WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
ALTAR
Score™
7.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.9x P/Sales
ratio
1.3x
P/BV
ratio
1.9x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WisdomTree Emerging Markets ex-State-Owned Enterprises Fund is an exchange-traded fund incorporated in the USA. The Fund invests in emerging markets stocks where government ownership does not exceed 20% of outstanding shares.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor WisdomTree Asset Management In
Website www.wisdomtree.com
Inception date Dec 10, 2014
Assets (mns) $1,104
Currency USD
Expense ratio 32 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian WisdomTree Asset Management Inc
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 547
Wgt avg mkt cap (mns) $132,781
Large cap (>$10bn) 71.3%
Mid cap ($2-10bn) 26.0%
Small cap (<$2bn) 2.4%
Developed mkts 8.5%
Emerging mkts 91.4%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 8.7 %
ALIBABA GROUP HOLDING LTD. SPONSOR 8.5 %
SAMSUNG ELECTRONICS CO LTD 4.4 %
TAIWAN SEMICONDUCTOR MANUFAC 4.3 %
NASPERS LTD-N SHS 1.8 %
PING AN INSURANCE GROUP CO-H 1.5 %
RELIANCE INDS-SPONS GDR 144A 1.5 %
OIL COMPANY LUKOIL PJSC SPONSORED 1.4 %
MEITUAN DIANPING 1.4 %
JD.COM INC-ADR 1.1 %
Total 34.6 %

TOP COUNTRY EXPOSURE
CHINA 36.9 %
TAIWAN 12.8 %
SOUTH KOREA 12.1 %
INDIA 9.6 %
SOUTH AFRICA 4.4 %
BRAZIL 4.3 %
RUSSIA 3.7 %
MALAYSIA 2.5 %
HONG KONG 2.0 %
THAILAND 2.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.3% 4.7% 3.5% -- 4.1%

Market Correlations
versus... Beta R-squared
S&P500 0.95 70%
MSCI EAFE 1.09 79%
MSCI Emg. Mkts. 0.95 92%

Technical Indicators
Recent close $27.68
30d moving avg. $26.45
Annualized volatility 19.3%
Short interest (ETF) 0.8%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 329
Turnover 0.8%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $27,085

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the WisdomTree Emerging Markets ex-State-Owned Enterprises Fund ETF based on the alternatives' overlap in portfolio holdings with XSOE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XSOE Expense: 32 bp ALTAR Score™: 7.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XSOE
Ticker Fund
Name
Overlap1
vs XSOE
(%)
Expense
ratio
(bp)
Savings
vs XSOE
(bp)
ALTAR
Score™
(%)
ALTAR
vs XSOE
(%)
EEMA iShares MSCI Emerging Markets Asia ETF 61.9 50 -18 8.8 +1.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 60.4 65 -33 8.9 +1.7
EEM iShares MSCI Emerging Markets ETF 59.8 68 -36 8.7 +1.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 59.2 30 2 9.2 +2.0
JHEM John Hancock Multifactor Emerging Markets ETF 58.3 55 -23 9.3 +2.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 56.7 68 -36 8.4 +1.2
FLAX Franklin FTSE Asia Ex Japan ETF 56.7 19 13 8.9 +1.7
SCHE Schwab Emerging Markets Equity ETF 55.4 13 19 9.1 +1.9
IEMG iShares Core MSCI Emerging Markets ETF 54.6 14 18 9.2 +2.0
DVEM WisdomTree Emerging Markets Dividend Fund 52.8 32 0 9.5 +2.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 51.6 14 18 9.9 +2.8
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 51.0 45 -13 9.0 +1.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 50.0 20 12 8.0 +0.8
SPEM SPDR Portfolio Emerging Markets ETF 49.0 11 21 9.0 +1.8
GMF SPDR S&P Emerging Asia Pacific ETF 48.3 49 -17 8.4 +1.2
VWO Vanguard FTSE Emerging Markets ETF 48.1 10 22 9.3 +2.1
ESGE iShares ESG MSCI EM ETF 47.1 25 7 10.2 +3.0
BKF iShares MSCI BRIC ETF 43.4 69 -37 8.9 +1.7
EMXC iShares MSCI Emerging Markets ex China ETF 40.3 49 -17 8.9 +1.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 39.4 49 -17 8.8 +1.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 38.9 32 0 7.2 +0.1
AVEM Avantis Emerging Markets Equity ETF 37.9 33 -1 10.0 +2.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 37.1 49 -17 9.5 +2.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 37.1 30 2 9.7 +2.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 36.3 59 -27 11.7 +4.5
GXC SPDR S&P China ETF 35.4 59 -27 9.2 +2.0
WCHN WisdomTree ICBCCS S&P China 500 Fund 35.3 55 -23 9.3 +2.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 35.2 95 -63 10.7 +3.5
NUEM Nuveen ESG Emerging Markets Equity ETF 35.2 45 -13 8.1 +0.9
MCHI iShares MSCI China ETF 34.5 59 -27 9.3 +2.2
EMCG WisdomTree Emerging Markets Consumer Growth Fund 34.2 32 0 8.0 +0.8
KALL KraneShares FTSE Emerging Markets Plus ETF 34.0 49 -17 9.4 +2.2
FLCH Franklin FTSE China ETF 33.6 19 13 9.6 +2.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 32.9 32 0 9.9 +2.7
CN Xtrackers MSCI All China Equity ETF 31.8 50 -18 9.7 +2.5
PXH Invesco FTSE RAFI Emerging Markets ETF 30.5 50 -18 14.5 +7.3
ISEM Invesco Strategic Emerging Markets ETF 29.9 35 -3 11.1 +3.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 28.5 40 -8 8.0 +0.8
CHIL Global X MSCI China Large-Cap 50 ETF 28.1 29 3 9.8 +2.6
EEMO Invesco S&P Emerging Markets Momentum ETF 27.6 30 2 7.5 +0.3
AIA iShares Asia 50 ETF 27.4 50 -18 9.3 +2.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 26.2 39 -7 13.9 +6.7
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 25.9 64 -32 5.7 -1.5
FDNI First Trust Dow Jones International Internet ETF 25.3 65 -33 2.9 -4.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 24.9 86 -54 2.4 -4.8
AXJL WisdomTree Asia Pacific ex-Japan Fund 24.3 48 -16 10.1 +2.9
KWEB KraneShares CSI China Internet ETF 23.9 76 -44 3.6 -3.6
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 23.8 50 -18 10.4 +3.2
EMMF WisdomTree Emerging Markets Multifactor Fund 23.6 48 -16 10.2 +3.1
BICK First Trust BICK Index Fund 22.4 64 -32 4.8 -2.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 22.2 45 -13 9.4 +2.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 21.7 45 -13 10.2 +3.0
XCEM Columbia EM Core ex-China ETF 20.9 16 16 8.2 +1.0
ROAM Hartford Multifactor Emerging Markets ETF 20.8 44 -12 15.7 +8.6
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 20.2 25 7 8.8 +1.6
RNEM Emerging Markets Equity Select ETF 20.1 75 -43 11.1 +3.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 19.7 16 16 7.5 +0.3
ECON Columbia Emerging Markets Consumer ETF 19.5 59 -27 5.1 -2.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 19.5 45 -13 10.3 +3.1
TTTN UP Fintech China-U.S. Internet Titans ETF 19.4 59 -27 5.1 -2.1
FRDM Freedom 100 Emerging Markets ETF 16.9 49 -17 8.0 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 16.5 40 -8 7.9 +0.7
VSGX Vanguard ESG International Stock ETF 16.3 17 15 7.8 +0.6
ACWX iShares MSCI ACWI ex U.S. ETF 15.9 32 0 8.0 +0.8
FNI First Trust Chindia ETF 15.6 59 -27 3.7 -3.5
PIE Invesco DWA Emerging Markets Momentum ETF 15.4 90 -58 5.9 -1.3
CHIQ Global X China Consumer ETF 15.4 65 -33 9.8 +2.6
VIGI Vanguard International Dividend Appreciation ETF 15.4 25 7 6.2 -1.0
IXUS ishares Core MSCI Total International Stock ETF 15.0 9 23 8.1 +0.9
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 14.9 18 14 6.5 -0.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 14.8 80 -48 1.9 -5.3
VEU Vanguard FTSE All-World ex-US Index Fund 14.6 8 24 8.2 +1.0
JOYY Infusive Compounding Global Equities ETF 14.5 50 -18 4.0 -3.2
VXUS Vanguard Total International Stock Index Fund 14.2 8 24 8.2 +1.1
EELV Invesco S&P Emerging Markets Low Volatility ETF 14.0 29 3 10.3 +3.1
CWI SPDR MSCI ACWI ex-US ETF 13.8 30 2 8.0 +0.8
PGJ Invesco Golden Dragon China ETF 13.8 70 -38 3.6 -3.5
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.8 45 -13 14.1 +6.9
FXI iShares China Large-Cap ETF 13.4 74 -42 13.9 +6.7
OGIG O'Shares Global Internet Giants ETF 13.2 48 -16 0.5 -6.7
CQQQ Invesco China Technology ETF 13.0 70 -38 4.5 -2.7
DINT Davis Select International ETF 12.8 75 -43 6.2 -0.9
EWT iShares MSCI Taiwan ETF 12.6 59 -27 6.7 -0.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 12.5 60 -28 9.0 +1.8
DOGS Arrow Dogs of the World ETF 12.5 134 -102 11.7 +4.5
FLTW Franklin FTSE Taiwan ETF 12.4 19 13 7.0 -0.2
GBUY Goldman Sachs Motif New Age Consumer ETF 12.3 50 -18 2.3 -4.9
GENY Principal Millennials Index ETF 12.1 45 -13 4.4 -2.8
EWY iShares MSCI South Korea ETF 12.0 59 -27 9.7 +2.5
FLKR Franklin FTSE South Korea ETF 11.9 9 23 10.2 +3.1
DEM WisdomTree Emerging Markets High Dividend Fund 11.9 63 -31 14.8 +7.6
SOCL Global X Social Media ETF 11.9 65 -33 2.3 -4.9
AIQ Global X Future Analytics Tech ETF 11.4 68 -36 4.2 -3.0
CHIC Global X Nasdaq China Technology ETF 11.0 65 -33 4.5 -2.7
PNQI Invesco NASDAQ Internet ETF 10.8 62 -30 1.3 -5.9
BUYZ Franklin Disruptive Commerce ETF 10.6 50 -18 -0.1 -7.3
ONLN ProShares Online Retail ETF 10.6 58 -26 1.7 -5.5
DWLD Davis Select Worldwide ETF 10.5 64 -32 7.0 -0.2
VYMI Vanguard International High Dividend Yield ETF 10.0 32 0 10.8 +3.7
GIGE SoFi Gig Economy ETF 9.4 59 -27 -0.4 -7.6

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.9 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 CATEGORY
AVERAGE
1.45
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.