WisdomTree Dynamic Currency Hedged International Equity Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$34.73
$283 M
2.30%
$0.80
0.40%
Vitals
YTD Return
10.9%
1 yr return
17.8%
3 Yr Avg Return
8.3%
5 Yr Avg Return
7.3%
Net Assets
$283 M
Holdings in Top 10
15.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.40%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 38.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$34.73
$283 M
2.30%
$0.80
0.40%
DDWM - Profile
Distributions
- YTD Total Return 10.9%
- 3 Yr Annualized Total Return 8.3%
- 5 Yr Annualized Total Return 7.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.26%
- Dividend Yield 2.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameWisdomTree Dynamic Currency Hedged International Equity Fund
-
Fund Family NameWisdomTree Trust
-
Inception DateJan 07, 2016
-
Shares Outstanding5750000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMarlene Walker-Smith
Fund Description
The Fund employs a “passive management” – or indexing – investment approach designed to track the performance of the Index. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in constituent securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such constituent securities.
The Index is a dividend weighted index designed to provide exposure to the equity securities of companies in the industrialized world, excluding Canada and the United States, that pay regular cash dividends on shares of common stock, while at the same time dynamically hedging currency exposure to fluctuations between the value of the applicable foreign currencies (i.e., Australian Dollar, Canadian Dollar, Swiss Franc, Danish Krone, Euro, Great Britain Pound Sterling, Hong Kong Dollar, Israeli New Shekel, Japanese Yen, Norwegian Krone, Swedish Krona, and Singapore Dollar) and the U.S. dollar. The Index consists of equity securities of dividend-paying companies. To be eligible for inclusion in the Index, a company must meet the following criteria as of the annual Index screening date: (i) conduct their Primary Business Activities in Europe, Japan, Australia, Hong Kong, Israel, or Singapore and have its shares listed for trading on one of the stock exchanges in Europe (i.e., Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, or the United Kingdom), the Tokyo Stock Exchange, or on exchanges in Australia, Hong Kong, Israel or Singapore; (ii) have paid at least $5 million in gross cash dividends on shares of its common stock in the prior annual cycle; (iii) have a market capitalization of at least $100 million; (iv) have a median daily dollar volume of at least $100,000 for the preceding three months; and (v) have trading of at least 250,000 shares per month for each of the preceding six months. The country in which a company conducts its Primary Business Activities is determined based on one or more of the following factors: country of organization or incorporation, country in which a company’s headquarters is located, the country to which a company has the greatest risk exposure, and the country from which a company generates the most significant portion of its revenue or to which it allocates the greatest resources.
Securities are weighted in the Index based on dividends paid over the prior annual cycle. Generally, companies that pay a greater total dollar amount of dividends are more heavily weighted. To derive a company’s initial Index weight, (i) multiply the U.S. dollar value of the company’s annual gross dividend per share by its common shares outstanding (the “Cash Dividend Factor”); (ii) calculate the Cash Dividend Factor for each company; (iii) add together all of the companies’ Cash Dividend Factors; and (iv) divide the company’s Cash Dividend Factor by the sum of all Cash Dividend Factors. The maximum weight in the Index of any one sector and any one country is capped at 25% (with the exception of the Real Estate Sector, which is capped at 15%); however, sector and country weights may fluctuate above their specified caps in response to market conditions and/or the application of volume factor adjustments. If a constituent security no longer meets applicable trading volume thresholds as of the annual Index screening date, the Index methodology provides for the application of a volume factor adjustment to reduce the weight of such constituent security in the Index and reallocates the excess weight pro rata among the remaining constituent securities.
The Index dynamically hedges currency fluctuations in the relative value of the applicable foreign currencies against the U.S. dollar, ranging from a 0% to 100% hedge. The Index determines and adjusts the hedge ratios applicable to such foreign currencies on a monthly basis using four quantitative signals: momentum, interest rate differentials, low volatility, and time-series momentum. Momentum is measured by the one-month average of each currency’s spot price versus the U.S. dollar. Interest rate differentials are measured by the difference in interest rates, as implied in one month FX forwards, between each currency and the U.S. dollar. Low volatility is used to hedge exposure to the top two-thirds of currencies with the highest 24-month return volatilities. Time-series momentum is based on a broad trend in the U.S. dollar. This approach is designed to seek to limit losses related to foreign currencies when such currencies depreciate against the U.S. dollar while allowing for participation in gains related to foreign currencies when such currencies appreciate against the U.S. dollar. In seeking to track the performance of the Index, the Fund also aims to benefit from such currency movements while reducing the volatility associated with currency returns.
The Index applies a published currency forward rate to each foreign currency represented in the Index to hedge against fluctuations in the relative value of the foreign currencies against the U.S. dollar pursuant to the applicable hedge ratios. The Fund uses forward currency contracts or futures contracts to the extent foreign currencies are hedged.
WisdomTree, Inc. (“WisdomTree”), the Index Provider and parent company of WisdomTree Asset Management, Inc. (“WisdomTree Asset Management” or the “Adviser”), currently uses the Global Industry Classification Standard (GICS®), a widely recognized industry classification methodology developed by MSCI, Inc. and Standard & Poor’s Financial Services LLC, to identify the extent of the Index’s exposure to a sector or industry. A GICS sector typically is comprised of multiple industries. Because the Fund seeks to track the Index it is expected to have the same sector and industry exposure as the Index. While the Index’s and the Fund’s sector exposure may vary from time to time, as of September 30, 2024, the Index had significant exposure (e.g., approximately 15% or more of the Index’s total weight) to the Financials and Industrials Sectors.
To the extent the Index’s constituents are concentrated (i.e., holds more than 25% of constituents) in the securities of companies assigned to a particular industry or group of industries, the Fund will seek to concentrate its investments in such industry or group of industries to approximately the same extent as the Index.
As of September 30, 2024, the equity securities of companies with Primary Business Activities in Japan and Europe, particularly the United Kingdom, comprised a significant portion (e.g., approximately 15% or more of the Index’s total weight) of the Index, although the Index’s geographic exposure may change from time to time. As a result, the Fund can be expected to also have significant exposure to these countries and/or regions.
DDWM - Performance
Return Ranking - Trailing
Period | DDWM Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.9% | -2.3% | 17.0% | 14.10% |
1 Yr | 17.8% | 0.8% | 28.3% | 41.31% |
3 Yr | 8.3%* | -3.1% | 77.6% | 3.30% |
5 Yr | 7.3%* | 0.5% | 45.8% | 30.25% |
10 Yr | N/A* | 0.0% | 22.9% | 67.66% |
* Annualized
Return Ranking - Calendar
Period | DDWM Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.0% | 1.0% | 26.9% | 80.00% |
2022 | -5.1% | -27.8% | 166.1% | 6.15% |
2021 | 10.6% | -66.6% | 64.4% | 18.09% |
2020 | -8.1% | -17.0% | 17.3% | 91.75% |
2019 | 16.9% | 4.4% | 31.6% | 27.92% |
Total Return Ranking - Trailing
Period | DDWM Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.9% | -2.3% | 17.0% | 14.10% |
1 Yr | 17.8% | 0.8% | 28.3% | 41.31% |
3 Yr | 8.3%* | -3.1% | 77.6% | 3.30% |
5 Yr | 7.3%* | 0.5% | 45.8% | 30.25% |
10 Yr | N/A* | 0.0% | 22.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DDWM Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.2% | 5.4% | 31.0% | 75.16% |
2022 | -0.8% | -19.9% | 344.3% | 2.91% |
2021 | 14.8% | -0.2% | 75.3% | 20.39% |
2020 | -4.6% | -11.8% | 18.9% | 89.35% |
2019 | 21.4% | 11.2% | 32.1% | 17.67% |
DDWM - Holdings
Concentration Analysis
DDWM | Category Low | Category High | DDWM % Rank | |
---|---|---|---|---|
Net Assets | 283 M | 3.42 M | 46.7 B | 71.38% |
Number of Holdings | 1107 | 2 | 2513 | 1.29% |
Net Assets in Top 10 | 43.9 M | 628 K | 13.8 B | 79.42% |
Weighting of Top 10 | 15.54% | 6.2% | 100.0% | 90.32% |
Top 10 Holdings
- State Street Navigator Securities Lending Government Money Market Portfolio 3.97%
- HSBC Holdings PLC 1.82%
- Novartis AG 1.69%
- Nestle SA 1.45%
- TotalEnergies SE 1.45%
- Shell PLC 1.07%
- Industria de Diseno Textil SA 1.04%
- AstraZeneca PLC 1.03%
- Toyota Motor Corp 1.01%
- Allianz SE 1.00%
Asset Allocation
Weighting | Return Low | Return High | DDWM % Rank | |
---|---|---|---|---|
Stocks | 98.43% | 7.74% | 104.54% | 32.80% |
Cash | 3.97% | 0.00% | 13.78% | 18.33% |
Other | 0.96% | -0.05% | 43.33% | 14.15% |
Preferred Stocks | 0.00% | 0.00% | 4.41% | 66.88% |
Convertible Bonds | 0.00% | 0.00% | 0.15% | 31.83% |
Bonds | 0.00% | 0.00% | 81.81% | 35.37% |
DDWM - Expenses
Operational Fees
DDWM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.40% | 0.01% | 5.99% | 91.96% |
Management Fee | 0.40% | 0.00% | 1.25% | 9.35% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.03% | 0.47% | N/A |
Sales Fees
DDWM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
DDWM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DDWM Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 38.00% | 2.00% | 158.16% | 42.65% |
DDWM - Distributions
Dividend Yield Analysis
DDWM | Category Low | Category High | DDWM % Rank | |
---|---|---|---|---|
Dividend Yield | 2.30% | 0.00% | 13.19% | 37.42% |
Dividend Distribution Analysis
DDWM | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
DDWM | Category Low | Category High | DDWM % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.26% | 0.18% | 7.85% | 16.39% |
Capital Gain Distribution Analysis
DDWM | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 25, 2024 | $0.200 | OrdinaryDividend |
Jun 25, 2024 | $0.545 | OrdinaryDividend |
Mar 22, 2024 | $0.195 | OrdinaryDividend |
Dec 22, 2023 | $0.255 | OrdinaryDividend |
Sep 25, 2023 | $0.330 | OrdinaryDividend |
Jun 26, 2023 | $0.575 | OrdinaryDividend |
Mar 27, 2023 | $0.275 | OrdinaryDividend |
Dec 23, 2022 | $0.171 | OrdinaryDividend |
Sep 26, 2022 | $0.270 | OrdinaryDividend |
Jun 24, 2022 | $0.620 | OrdinaryDividend |
Mar 25, 2022 | $0.190 | OrdinaryDividend |
Dec 27, 2021 | $0.232 | OrdinaryDividend |
Sep 24, 2021 | $0.480 | OrdinaryDividend |
Jun 24, 2021 | $0.375 | OrdinaryDividend |
Mar 25, 2021 | $0.062 | OrdinaryDividend |
Dec 21, 2020 | $0.313 | OrdinaryDividend |
Sep 22, 2020 | $0.325 | OrdinaryDividend |
Jun 23, 2020 | $0.280 | OrdinaryDividend |
Mar 24, 2020 | $0.062 | OrdinaryDividend |
Dec 23, 2019 | $0.270 | OrdinaryDividend |
Sep 24, 2019 | $0.190 | OrdinaryDividend |
Jun 24, 2019 | $0.465 | OrdinaryDividend |
Mar 26, 2019 | $0.175 | OrdinaryDividend |
Dec 24, 2018 | $0.197 | OrdinaryDividend |
Sep 25, 2018 | $0.148 | OrdinaryDividend |
Jun 25, 2018 | $0.794 | OrdinaryDividend |
Dec 26, 2017 | $0.129 | OrdinaryDividend |
Sep 26, 2017 | $0.090 | OrdinaryDividend |
Jun 26, 2017 | $0.375 | OrdinaryDividend |
Mar 27, 2017 | $0.215 | OrdinaryDividend |
Dec 28, 2016 | $0.019 | CapitalGainShortTerm |
Dec 23, 2016 | $0.070 | OrdinaryDividend |
Dec 05, 2016 | $0.034 | CapitalGainShortTerm |
Dec 05, 2016 | $0.407 | CapitalGainLongTerm |
Sep 26, 2016 | $0.165 | OrdinaryDividend |
Jun 20, 2016 | $0.275 | OrdinaryDividend |
Mar 21, 2016 | $0.088 | OrdinaryDividend |
DDWM - Fund Manager Analysis
Managers
Marlene Walker-Smith
Start Date
Tenure
Tenure Rank
Oct 31, 2020
1.58
1.6%
Marlene is head of equity index portfolio management. She leads the team of equity index portfolio managers managing US and non-US equity index portfolios and is responsible for the refinement and implementation of the entire equity index portfolio management process. Previously, Marlene served as a senior portfolio manager within the equity index team and prior to joining the equity index team was an equity trader for the firm. Prior to joining the firm in 1995, Marlene was a trader for Banc One Investment Advisors Corporation and a brokerage services manager for Mid Atlantic Capital Corporation. Marlene has been in the investment industry since 1990. Marlene earned an MBA in finance from the University of Pittsburgh and a BA in history and Russian from Washington & Jefferson College.
Michael Stoll
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Mr. Stoll is a vice president and senior portfolio manager at Mellon. He has been employed by Mellon or a predecessor company since 2005.
David France
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Mr. France is a vice president and senior portfolio manager at Mellon. He has been employed by Mellon or a predecessor company since 2009.
Todd Frysinger
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Mr. Frysinger is a vice president and senior portfolio manager at Mellon. He has been employed by Mellon or a predecessor company since 2007.
Vlasta Sheremeta
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Ms. Sheremeta is a vice president and senior portfolio manager at Mellon. She has been employed by Mellon or a predecessor company since 2011.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 29.68 | 7.75 | 0.54 |