Table of Contents

WisdomTree Trust

Annual Report

March 31, 2022

Table of Contents

Table of Contents

“WisdomTree” is a registered mark of WisdomTree Investments, Inc. and is licensed for use by the WisdomTree Trust.

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Market Environment Overview

(unaudited)

Developed international equity markets, as measured by the MSCI EAFE Index, were roughly flat for the 12-month fiscal period ending March 31, 2022 (the “period”), returning only 1.16% in U.S. dollar (“USD”) terms.

International currency market performance was mixed during the period, although the USD broadly strengthened relative to a basket of global currencies. The euro (“EUR”) steadily weakened against the USD during the period, as the European region generally saw slower economic growth than the U.S. Although not in Europe, this effect was even more pronounced in the Japanese yen (“JPY”), which was being suppressed by the Bank of Japan to stimulate economic growth while the rest of the global economy was overheating. The JPY weakened slightly for most of the period, though it sold off considerably in March 2022, the final month of the period. The British pound sterling fluctuated during the period but also weakened versus the USD, alongside the JPY and EUR.

Developed international equities increased their value for most of the period as the global economy continued its recovery from the COVID-19 pandemic that began in 2020. Vaccine accessibility established confidence in global markets as regional economies steadily began to reopen, promoting a revival in cyclical sectors that had been suppressed the prior year. The pace of economic growth improved during 2021, along with the inflation rates around the world, amid a global backdrop of accommodative policy. However, several headwinds in the first quarter of 2022 forced international equities to give up most of their gains from the previous nine months.

During the second quarter of 2021, markets gradually moved higher, with the MSCI EAFE Index returning 5.17% in USD terms. This was mainly due to the improved outlook for economic growth amid vaccine accessibility. The developed international economic region has significant concentration in cyclical sectors tied to overall levels of economic growth, so the improved economic outlook contributed positively to performance.

The third quarter of 2021 was more tempered than the previous quarter. The MSCI EAFE Index was flat during the quarter in USD terms, and early summertime optimism faded as new and potentially more infectious COVID-19 variants appeared and spread throughout the world. This ignited fear of renewed “lockdowns”, raised questions of vaccine efficacy, and threatened the ongoing economic recovery.

However, investors’ concerns quickly abated during the fourth quarter of 2021. Fears of systemic impacts from the downturn in the Chinese real estate markets briefly sent markets into negative territory, but they finished 2021 strong once their contagion concerns were allayed. Developed international markets ultimately finished the quarter in positive territory, returning 2.69% on a USD basis.

With 2021 in rearview, investors began 2022 with several concerns that led to risk-off sentiments in the first quarter of 2022. At the forefront were concerns about runaway inflation, and the expectation that global central banks would intervene with restrictive monetary policy actions to temper rising inflation. Interest rates around the world rose quickly as bonds sold-off, and the U.S. Federal Reserve raised its target federal funds rate for the first time since slashing it to 0% at the onset of the pandemic in 2020.

Inflationary and interest rate concerns temporarily took a backseat halfway through the first quarter of 2022, as geopolitical tensions between Russia and Ukraine escalated into war. Investor risk-on sentiment deteriorated, and equities declined for several weeks as markets assessed the developments and prospects for resolution.

As a result, international equities sold off in the first quarter of 2022, owing to the near certainty of several upcoming interest rate hikes amid a tightening cycle and geopolitical tensions between Russia and Ukraine. The MSCI EAFE Index fell nearly 6% in dollar terms, although it regained some ground from its -15% low on March 8, 2022.

Many of these risk factors are expected to continue and global financial market performance is likely to be dependent on developments in the war between Russia and Ukraine, economic data, and central bank activity.

Each WisdomTree Fund’s performance as set forth in “Management’s Discussion of Funds’ Performance” in the pages that follow should also be viewed in light of the foregoing market environment.

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Information about Performance and Shareholder Expense Examples (unaudited)

Performance

The performance tables on the following pages are provided for comparative purposes and represent the period noted. Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market price return is based on the market price per share of the Fund. The price used to calculate market price returns is the midpoint of the bid and ask price for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other exchange traded funds (“ETFs”), NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Fund shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Fund NAV returns are calculated using a Fund’s daily 4:00 p.m. eastern time NAV. Market price returns reflect the midpoint of the bid and ask price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance information visit www.wisdomtree.com.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore, index returns do not reflect deductions for fees or expenses and an index is not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or taxes that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results.

Shareholder Expense Examples

Each Fund’s performance table is accompanied by a shareholder expense example. As a shareholder of a WisdomTree Fund, you incur two types of cost: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The examples are intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2021 to March 31, 2022. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 182/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

The first line in the shareholder expense example table shown on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during the period.

Hypothetical example for comparison purposes

The second line in the shareholder expense example table shown on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

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Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree Europe Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in the European equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 4.02% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in the Materials, Health Care and Information Technology sectors, due both to allocation and stock selection effects within the latter two and mainly stock selection within Materials. Positions in the Energy, Consumer Staples and Communication Services sectors detracted from performance for the Fund, mainly due to stock selection effects. When analyzing performance by country, exposures within Spain and France were the main detractors from performance largely attributable to stock selection. Germany and Netherlands were top performance contributors primarily due to stock selection effects.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree Europe SmallCap Dividend Fund (DFE)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree Europe SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the European equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 0.18% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Health Care, Consumer Discretionary and Information Technology, mainly due to stock selection within each sector. Positions in the Materials, Financials and Real Estate sectors detracted from performance for the Fund, due to stock selection effects in Materials and Financials, and allocation effects within Real Estate. When analyzing performance by country, exposures within Norway and Italy were the main detractors from performance, owing to poor stock selection. Germany and Switzerland were top performance contributors due to strong stock selection effects.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International AI Enhanced Value Fund (AIVI)

(formerly, WisdomTree International Dividend ex-Financials Fund (DOO))

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International AI Enhanced Value Fund (the “Fund”) seeks income and capital appreciation by investing primarily in equity securities selected from a universe of developed market equities, excluding the United States and Canada, that exhibit value characteristics based on the selection results of a proprietary, quantitative artificial intelligence (“AI”) model developed by Voya Investment Management Co., LLC, the Fund’s sub-adviser. Prior to January 18, 2022, Fund performance reflects the investment objective of the Fund when it was the WisdomTree International Dividend ex-Financials Fund and tracked the price and yield performance, before fees and expenses, of the WisdomTree International Dividend ex-Financials Index (the “Former Index”). In seeking to track the Former Index, the Fund invested in high-dividend-yielding companies in the developed world excluding the U.S. and Canada, and excluding the financials sector.

The Fund returned 0.30% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). Lower relative weight to the Consumer Discretionary sector and higher relative weight to the Industrials and the Utilities sectors benefited performance. Stock selection within these sectors as well as in Information Technology, Healthcare, and Communication Services benefited performance of the Fund as well. The Fund also benefited from overweight exposure to China and positive security selection within Chinese equities. Higher relative weight to high dividend paying companies also benefited the performance of the Fund.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International Equity Fund (DWM)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Equity Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 4.62% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Materials, Industrials and Consumer Discretionary, due to combination of allocation and stock selection effects within each of those sectors. Positions in the Consumer Staples, Real Estate and Utilities sectors detracted from performance for the Fund, due to combination of allocation and stock selection effects, though their overall impacts were modest. When analyzing performance by country, exposures within France and Spain were the largest detractors on performance, however, the overall impact was minimal. Japan and Australia were top performance contributors due to stock selection effects in Japan and allocation effects in Australia.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International High Dividend Fund (DTH)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International High Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in high-dividend-yielding companies in the developed world excluding U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 6.61% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Materials, Industrials and Communication Services, due to combination of allocation and stock selection effects within each of those sectors. Positions in the Health Care, Consumer Staples and Real Estate sectors negatively impacted performance, mainly due to stock selection. When analyzing performance by country, exposures within Switzerland and France were the largest detractors from performance, owing to stock selection effects. Japan and Australia were top performance contributors primarily due to stock selection effects in Japan and allocation effects in Australia.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International LargeCap Dividend Fund (DOL)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International LargeCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International LargeCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 7.27% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Materials, Industrials and Financials, owing primarily to stock selection effects within each of these sectors. Positions in the Real Estate, Utilities and Consumer Staples sectors detracted from performance, due to stock selection effects. When analyzing performance by country, exposures within Spain and Sweden were the largest detractors from performance though their impacts were negligible. Japan and United Kingdom were top performance contributors primarily due to stock selection effects.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International MidCap Dividend Fund (DIM)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International MidCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International MidCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying mid-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -0.13% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Industrials, Consumer Discretionary and Utilities, due to a combination of allocation and stock selection effects. Positions in the Financials, Health Care and Materials sectors detracted from performance, mainly due to poor stock selection effects. When analyzing performance by country, exposures within the United Kingdom and Switzerland were the largest detractors from performance, owing to weak stock selection effects. Japan and Germany were top performance contributors almost entirely due to stock selection.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International Multifactor Fund (DWMF)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International Multifactor Fund (the “Fund”) seeks capital appreciation by investing primarily in equity securities of developed countries, excluding the U.S. and Canada, with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation. The Fund seeks to manage its currency risk by dynamically hedging currency fluctuations in the relative value of the applicable international currencies against the U.S. dollar, ranging from a 0% to 100% hedge.

The Fund returned 3.03% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Industrials, Health Care, and Communication Services, primarily due to selection effects within these sectors. Information Technology, Energy, and Materials detracted from performance due to a combination of allocation and selection effects. When analyzing performance by market capitalization, the Fund’s exposure to Large Cap securities was additive during the fiscal year, while its position in Mid Caps detracted from performance. The Fund’s use of foreign currency contracts contributed positively to Fund performance as the U.S. dollar strengthened overall against various international currencies, which served as a tailwind to the Fund’s dynamic currency hedge strategy.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International Quality Dividend Growth Fund (IQDG)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 2.46% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Materials, Health Care and Information Technology, mainly due to stock selection effects within each of these sectors. Positions in the Financials, Energy and Consumer Staples sectors detracted from performance for the Fund, mainly due to stock selection effects, especially within Financials. When analyzing performance by country, exposures within Spain and Australia were the largest detractors, due to poor stock selection. The United Kingdom and Germany were top performance contributors primarily due to allocation and stock selection effects.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree International SmallCap Dividend Fund (DLS)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree International SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -0.79% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Consumer Discretionary, Utilities and Information Technology, due to stock selection effects within each of those sectors. Positions in the Materials, Financials and Industrials sectors detracted from performance, due to stock selection effects. When analyzing performance by country, exposures within Italy and Australia were the largest detractors from performance, owing to stock selection effects. Japan and Israel were top performance contributors due to positive stock selection in the former and strong allocation effects in the latter.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

Table of Contents

Management’s Discussion of Funds’ Performance

as of March 31, 2022 (unaudited)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

Sector Breakdown†

Top Ten Holdings*

The WisdomTree Japan SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the Japanese equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -10.62% at net asset value (“NAV”) for the fiscal year ended March 31, 2022 (for more complete performance information please see the table below). The Fund benefited from its positions in Materials, Information Technology and Consumer Staples, due to stock selection effects within each of those sectors. Positions in the Real Estate, Consumer Discretionary and Industrials sectors detracted from performance due to stock selection effects in Consumer Discretionary and Industrials and allocation effects within Real Estate. When analyzing performance by dividend yield attribution, only the 3^rd quintile of companies detracted from performance as a result of poor stock selection. The companies within the 1^st quintile and the Fund’s lack of exposure to those with zero dividend yield were top performance contributors due to overweighting the former and underweighting the latter.

Shareholder Expense Example (for the six-month period ended March 31, 2022)

Performance

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

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Description of Terms and Indexes (unaudited)

Below are descriptions of certain terms and of each Index referenced in this report:

Allocation Effect measures an investment manager’s ability to effectively allocate a portfolio’s assets to various segments. A segment refers to assets or securities that are grouped within a certain classification such as sectors, industries, or countries. The allocation effect determines whether the overweighting or underweighting of segments relative to a benchmark contributes positively or negatively to the overall portfolio return. Positive allocation occurs when the portfolio is overweighted in a segment that outperforms the benchmark and underweighted in a segment that underperforms the benchmark. Negative allocation occurs when the portfolio is overweighted in a segment that underperforms the benchmark and underweighted in a segment that outperforms the benchmark.

Growth is generally characterized by higher price levels relative to fundamentals, such as dividends or earnings. Price levels are higher because investors are willing to pay more due to their expectations of future improvements in these fundamentals.

The MSCI EAFE Index is a market cap-weighted index composed of companies representative of the developed market structure of developed countries in Europe, Australasia and Japan.

The MSCI EAFE Local Currency Index is a free float-adjusted market capitalization weighted index that is designed to measure developed market equity performance, excluding the U.S. and Canada, calculated in local currency.

The MSCI EAFE Mid Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of mid-capitalization equities in the developed markets, excluding the U.S. and Canada.

The MSCI EAFE Mid Cap Value Index captures mid cap securities exhibiting overall value style characteristics across Developed Markets countries, excluding the US and Canada.

The MSCI EAFE Small Cap Index is a free float-adjusted market capitalization equity index that is designed to measure the performance of small-cap stocks within the developed equity market, excluding the U.S. and Canada.

The MSCI EAFE Small Cap Value Index captures small cap securities exhibiting overall value style characteristics across Developed Markets countries, excluding the US and Canada.

The MSCI EAFE Value Index is a free float-adjusted market capitalization index that is designed to measure the performance of the “value” stocks within the developed equity market, excluding the U.S. and Canada.

The MSCI Europe Index is a free float-adjusted market capitalization index that is designed to measure the performance of large- and mid-cap stocks within developed market European countries.

The MSCI Europe Small Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of “small” stocks within developed market European countries.

The MSCI Japan Small Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of small cap stocks within Japan.

The MSCI Japan Index is a free float-adjusted market capitalization index that is designed to measure the performance of the Japanese equity market.

Quality is generally characterized by higher efficiency and profitability. Typical measures include earnings, return-on-equity, return on assets, operating profitability as well as others. This term is also related to the quality factor, which associates these stock characteristics with excess returns vs. the market over time.

Return-on-Equity (ROE) measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.

Risk-on and Risk-off refers to investors’ appetites for risk which rise and fall over time. During periods when risk is perceived as low, the risk-on risk-off theory states that

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Description of Terms and Indexes (unaudited) (continued)

investors tend to engage in higher-risk investments (i.e., “Risk-on”). When risk is perceived to be high, investors have the tendency to gravitate toward lower-risk investments (i.e., “Risk-off”).

Selection Effect measures an investment manager’s ability to select securities within a given segment relative to a benchmark. The over or underperformance of the portfolio is weighted by the benchmark weight, therefore, selection is not affected by the investment manager’s allocation to the segment. The weight of the segment in the portfolio determines the size of the effect—the larger the segment, the larger the effect is, positive or negative. A positive selection effect occurs when the portfolio return is greater than the benchmark return. Thus, the investment manager made good decisions in selecting securities that, as a whole, outperformed similar securities in the benchmark. A negative selection effect occurs when the portfolio return is less than the benchmark return. Thus, the investment manager made poor decisions in selecting securities that, as a whole, underperformed similar securities in the benchmark.

The WisdomTree Europe Quality Dividend Growth Index is a fundamentally weighted index that measures the performance of dividend-paying common stocks with growth characteristics selected from the WisdomTree International Equity Index.

The WisdomTree Europe SmallCap Dividend Index is a fundamentally weighted index that measures the performance of the small-capitalization segment of the European dividend-paying market.

The WisdomTree International Dividend ex-Financials Index measures the performance of high dividend-yielding international stocks outside the financial sector.

The WisdomTree International Equity Index is a fundamentally weighted Index that measures the performance of dividend-paying companies in the industrialized world, excluding Canada and the United States.

The WisdomTree International High Dividend Index is comprised of companies with high dividend yields selected from the WisdomTree International Equity Index.

The WisdomTree International LargeCap Dividend Index is comprised of the large-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International MidCap Dividend Index is comprised of the mid-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International Quality Dividend Growth Index is a fundamentally weighted index designed to provide exposure to dividend paying developed market companies.

The WisdomTree International SmallCap Dividend Index is comprised of the small-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree Japan SmallCap Dividend Index is comprised of dividend-paying small-capitalization companies in Japan.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The McGraw-Hill Companies, Inc. and is licensed for use by WisdomTree Investments, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

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Description of Terms and Indexes (unaudited) (concluded)

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

WisdomTree Investments, Inc. and WisdomTree Asset Management, Inc. (together, “WisdomTree”) and the Funds make no representation or warranty, express or implied, to the owners of shares of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of the underlying Indexes to track the performance of their underlying securities. WisdomTree Investments is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree Investments has no obligation to take the needs of the Funds or the owners of shares of the Funds into consideration in determining, composing, or calculating the underlying WisdomTree Indexes of the applicable Funds. WisdomTree Investments is not responsible for, and has not participated in, the determination of the timing of, prices of, or quantities of shares of the Funds to be issued or in the determination or calculation of the equation by which the shares of the Funds are redeemable. WisdomTree and the Funds do not guarantee the accuracy, completeness, or performance of the underlying Indexes or the data included therein and shall have no liability in connection with the underlying Indexes or their calculation.

Index performance information assumes the reinvestment of dividends and excludes management fees, transaction costs and expenses. You cannot directly invest in an index.

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Abbreviations used in the schedules of investments and related tables included in this report are as follows:

Table of Contents

Schedule of Investments

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2022