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WisdomTree Trust

Semi-Annual Report

September 30, 2023

 

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

WisdomTree U.S. ESG Fund (RESP)

WisdomTree U.S. Growth & Momentum Fund (WGRO)

WisdomTree U.S. High Dividend Fund (DHS)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

WisdomTree U.S. LargeCap Fund (EPS)

WisdomTree U.S. MidCap Dividend Fund (DON)

WisdomTree U.S. MidCap Fund (EZM)

WisdomTree U.S. Multifactor Fund (USMF)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

WisdomTree U.S. Quality Growth Fund (QGRW)

WisdomTree U.S. SmallCap Dividend Fund (DES)

WisdomTree U.S. SmallCap Fund (EES)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

WisdomTree U.S. Total Dividend Fund (DTD)

WisdomTree U.S. Value Fund (WTV)


Table of Contents

 

Information about Performance and Shareholder Expense Examples (unaudited)

       1  

Performance Summary (unaudited)

       2  

Description of Terms and Indexes (unaudited)

       18  
Schedules of Investments (unaudited)     

WisdomTree U.S. AI Enhanced Value Fund

       21  

WisdomTree U.S. ESG Fund

       24  

WisdomTree U.S. Growth & Momentum Fund

       29  

WisdomTree U.S. High Dividend Fund

       31  

WisdomTree U.S. LargeCap Dividend Fund

       37  

WisdomTree U.S. LargeCap Fund

       42  

WisdomTree U.S. MidCap Dividend Fund

       49  

WisdomTree U.S. MidCap Fund

       55  

WisdomTree U.S. Multifactor Fund

       63  

WisdomTree U.S. Quality Dividend Growth Fund

       67  

WisdomTree U.S. Quality Growth Fund

       72  

WisdomTree U.S. SmallCap Dividend Fund

       74  

WisdomTree U.S. SmallCap Fund

       82  

WisdomTree U.S. SmallCap Quality Dividend Growth Fund

       93  

WisdomTree U.S. Total Dividend Fund

       98  

WisdomTree U.S. Value Fund

       108  

Statements of Assets and Liabilities (unaudited)

       111  

Statements of Operations (unaudited)

       115  

Statements of Changes in Net Assets (unaudited)

       119  

Financial Highlights (unaudited)

       125  

Notes to Financial Statements (unaudited)

       133  

Approval of Investment Advisory and Sub-Advisory Agreements (unaudited)

       143  

General Information (unaudited)

       146  

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


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/investments.

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 April 1, 2023 to September 30, 2023. 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 183/366 (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.

 

WisdomTree Trust      1  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    20.0%  

Industrials

    18.4%  

Health Care

    13.9%  

Materials

    9.3%  

Utilities

    9.2%  

Consumer Staples

    9.1%  

Energy

    6.0%  

Communication Services

    5.3%  

Information Technology

    4.3%  

Consumer Discretionary

    2.7%  

Real Estate

    0.7%  

Investment Company

    0.4%  

Other Assets less Liabilities‡

    0.7%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Comcast Corp., Class A

    3.5%  

Altria Group, Inc.

    3.4%  

Abbott Laboratories

    3.3%  

Williams Cos., Inc.

    3.3%  

Intercontinental Exchange, Inc.

    3.3%  

Keurig Dr Pepper, Inc.

    3.1%  

Fortive Corp.

    3.1%  

3M Co.

    3.0%  

NiSource, Inc.

    3.0%  

Citigroup, Inc.

    2.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. AI Enhanced Value Fund (the “Fund”) seeks income and capital appreciation by investing primarily in equity securities selected from a universe of U.S. equities that exhibit value characteristics based on the selection results of a proprietary, quantitative artificial intelligence (“AI”) model developed by the Fund’s sub-adviser, Voya Investment Management Co., LLC.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 984.80        0.38   $ 1.89  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       -1.52      11.86      8.56      2.84      6.79

Fund Market Price Returns1

       -1.46      11.92      8.51      2.83      6.79

Russell 1000® Value Index

       0.78      14.44      11.05      6.23      8.45
*

Returns of less than one year are cumulative.

 

1 

The Fund’s investment objective changed effective January 18, 2022. Prior to January 18, 2022, the Fund’s investment objective sought to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Dividend ex-Financials Index.

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.

 

2   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. ESG Fund (RESP)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    29.0%  

Health Care

    14.0%  

Financials

    13.0%  

Consumer Discretionary

    11.2%  

Communication Services

    9.3%  

Industrials

    9.1%  

Consumer Staples

    6.6%  

Materials

    2.7%  

Real Estate

    2.6%  

Utilities

    2.4%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    6.4%  

Microsoft Corp.

    5.5%  

Alphabet, Inc., Class A

    4.1%  

Amazon.com, Inc.

    2.9%  

NVIDIA Corp.

    2.7%  

Meta Platforms, Inc., Class A

    1.9%  

Visa, Inc., Class A

    1.2%  

JPMorgan Chase & Co.

    1.1%  

Mastercard, Inc., Class A

    1.0%  

Eli Lilly & Co.

    1.0%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. ESG Fund (the “Fund”) seeks capital appreciation. The Fund is actively managed using a model-based approach. The Fund seeks to achieve its investment objective by investing primarily in U.S. equity securities that exhibit certain characteristics believed to be indicative of positive future returns as well as incorporating favorable environmental, social, and governance (“ESG”) characteristics.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,032.10        0.28   $ 1.42  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       3.21      17.11      8.17      7.56      10.12

Fund Market Price Returns1

       3.31      17.15      8.09      7.57      10.11

MSCI USA Extended ESG Focus Index2

       4.64      20.42      8.88      9.82      N/A  

S&P 500® Index

       5.18      21.62      10.15      9.92      11.91
*

Returns of less than one year are cumulative.

 

1 

The Fund’s name, investment objective and strategies changed effective March 16, 2020. Prior to March 16, 2020, Fund performance reflects the investment objective of the Fund when it was known as the WisdomTree U.S. Total Market Fund (EXT) and tracked the performance, before fees and expenses, of the WisdomTree U.S. Total Market Index.

 

2 

The MSCI USA Extended ESG Focus Index began on March 27, 2018.

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.

 

WisdomTree Trust      3  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. Growth & Momentum Fund (WGRO)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    23.6%  

Consumer Discretionary

    23.3%  

Information Technology

    23.1%  

Financials

    11.4%  

Health Care

    8.2%  

Materials

    3.8%  

Energy

    2.5%  

Consumer Staples

    2.1%  

Communication Services

    2.0%  

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Grand Canyon Education, Inc.

    2.6%  

Booking Holdings, Inc.

    2.4%  

U.S. Foods Holding Corp.

    2.1%  

Atkore, Inc.

    2.1%  

Intuitive Surgical, Inc.

    2.0%  

Howmet Aerospace, Inc.

    2.0%  

Madison Square Garden Sports Corp.

    2.0%  

Broadcom, Inc.

    2.0%  

Royal Caribbean Cruises Ltd.

    2.0%  

Insight Enterprises, Inc.

    1.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Growth & Momentum Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the O’Neil Growth Index (the “Index”), which is comprised of mid- and large-capitalization companies that provide exposure to high growth and momentum U.S. listed stocks. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,004.80        0.55   $ 2.76  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.25        0.55   $ 2.78  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      Since Inception1  

Fund NAV Returns

       0.48      13.44      -8.78

Fund Market Price Returns

       0.48      13.55      -8.74

O’Neil Growth Index

       0.78      14.13      -8.23

Russell 1000® Growth Index

       9.28      27.72      0.73

MSCI USA Momentum Index

       1.39      8.92      -6.34
*

Returns of less than one year are cumulative.

 

1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on June 24, 2021.

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.

 

4   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. High Dividend Fund (DHS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Energy

    21.9%  

Financials

    18.2%  

Utilities

    12.3%  

Health Care

    11.3%  

Consumer Staples

    11.1%  

Information Technology

    7.2%  

Real Estate

    4.9%  

Consumer Discretionary

    4.1%  

Communication Services

    3.7%  

Materials

    2.6%  

Industrials

    2.3%  

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Exxon Mobil Corp.

    6.2%  

Chevron Corp.

    5.3%  

AbbVie, Inc.

    5.1%  

Philip Morris International, Inc.

    4.4%  

Cisco Systems, Inc.

    4.2%  

Altria Group, Inc.

    3.7%  

Pfizer, Inc.

    3.6%  

AT&T, Inc.

    2.6%  

International Business Machines Corp.

    2.4%  

Pioneer Natural Resources Co.

    2.3%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. High Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in high dividend yielding companies in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 968.30        0.38   $ 1.87  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -3.17      7.32      12.03      5.56      7.95

Fund Market Price Returns

       -3.11      7.32      11.96      5.57      7.95

WisdomTree U.S. High Dividend Index

       -2.96      7.81      12.53      5.97      8.37

Russell 1000® Value Index

       0.78      14.44      11.05      6.23      8.45
*

Returns of less than one year are cumulative.

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.

 

WisdomTree Trust      5  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    18.4%  

Health Care

    16.1%  

Financials

    14.1%  

Consumer Staples

    12.1%  

Energy

    11.5%  

Industrials

    9.5%  

Consumer Discretionary

    5.1%  

Utilities

    4.9%  

Real Estate

    4.2%  

Communication Services

    2.3%  

Materials

    1.6%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    4.2%  

Microsoft Corp.

    4.2%  

Exxon Mobil Corp.

    4.1%  

Chevron Corp.

    2.6%  

AbbVie, Inc.

    2.4%  

JPMorgan Chase & Co.

    2.1%  

Merck & Co., Inc.

    1.7%  

Broadcom, Inc.

    1.7%  

Johnson & Johnson

    1.7%  

Cisco Systems, Inc.

    1.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. LargeCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. LargeCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,006.20        0.28   $ 1.40  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       0.62      14.31      10.90      7.99      10.07

Fund Market Price Returns

       0.67      14.28      10.82      8.00      10.07

WisdomTree U.S. LargeCap Dividend Index

       0.74      14.60      11.25      8.31      10.39

S&P 500® Index

       5.18      21.62      10.15      9.92      11.91

Russell 1000® Value Index

       0.78      14.44      11.05      6.23      8.45
*

Returns of less than one year are cumulative.

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.

 

6   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. LargeCap Fund (EPS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    21.7%  

Communication Services

    15.5%  

Financials

    14.6%  

Health Care

    12.6%  

Energy

    9.4%  

Consumer Discretionary

    7.3%  

Industrials

    6.8%  

Consumer Staples

    5.7%  

Materials

    2.5%  

Utilities

    2.1%  

Real Estate

    1.6%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Alphabet, Inc., Class A

    5.8%  

Apple, Inc.

    5.5%  

Meta Platforms, Inc., Class A

    5.2%  

Microsoft Corp.

    4.9%  

Exxon Mobil Corp.

    2.8%  

JPMorgan Chase & Co.

    1.8%  

Berkshire Hathaway, Inc., Class B

    1.6%  

Chevron Corp.

    1.5%  

Amazon.com, Inc.

    1.3%  

NVIDIA Corp.

    1.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. LargeCap Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. LargeCap Index (the “Index”). In seeking to track the Index, the Fund invests in earnings-generating large-cap companies in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,054.50        0.08   $ 0.41  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.60        0.08   $ 0.40  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       5.45      21.54      10.88      9.06      11.01

Fund Market Price Returns

       5.51      21.58      10.80      9.06      11.01

WisdomTree U.S. LargeCap Index

       5.47      21.69      10.95      9.18      11.23

S&P 500® Index

       5.18      21.62      10.15      9.92      11.91
*

Returns of less than one year are cumulative.

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.

 

WisdomTree Trust      7  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. MidCap Dividend Fund (DON)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    23.7%  

Industrials

    17.4%  

Consumer Discretionary

    11.3%  

Materials

    9.0%  

Energy

    8.6%  

Utilities

    8.5%  

Real Estate

    8.5%  

Information Technology

    5.0%  

Consumer Staples

    2.7%  

Health Care

    2.7%  

Communication Services

    2.4%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Chesapeake Energy Corp.

    1.2%  

Packaging Corp. of America

    1.2%  

Vistra Corp.

    1.0%  

Watsco, Inc.

    1.0%  

International Paper Co.

    1.0%  

Ares Management Corp., Class A

    1.0%  

Snap-on, Inc.

    0.9%  

Fidelity National Financial, Inc.

    0.9%  

Franklin Resources, Inc.

    0.8%  

Viatris, Inc.

    0.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. MidCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. MidCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying mid-cap companies in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,012.00        0.38   $ 1.91  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       1.20      11.84      15.20      4.85      8.67

Fund Market Price Returns

       1.21      11.87      15.15      4.85      8.65

WisdomTree U.S. MidCap Dividend Index

       1.36      12.37      15.73      5.22      9.05

S&P MidCap 400® Index

       0.45      15.51      12.05      6.06      8.94

Russell Midcap Value Index

       -0.77      11.05      10.98      5.18      7.92
*

Returns of less than one year are cumulative.

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.

 

8   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. MidCap Fund (EZM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    20.6%  

Consumer Discretionary

    18.4%  

Financials

    17.5%  

Information Technology

    9.7%  

Materials

    8.6%  

Energy

    8.5%  

Health Care

    5.5%  

Real Estate

    4.0%  

Consumer Staples

    2.8%  

Utilities

    2.0%  

Communication Services

    2.0%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Builders FirstSource, Inc.

    2.0%  

Ally Financial, Inc.

    0.9%  

Avis Budget Group, Inc.

    0.9%  

Cleveland-Cliffs, Inc.

    0.8%  

Penske Automotive Group, Inc.

    0.8%  

U.S. Steel Corp.

    0.8%  

Owens Corning

    0.8%  

PBF Energy, Inc., Class A

    0.8%  

AutoNation, Inc.

    0.8%  

Lithia Motors, Inc.

    0.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. MidCap Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. MidCap Index (the “Index”). In seeking to track the Index, the Fund invests in earnings-generating mid-cap companies in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,026.70        0.38   $ 1.93  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       2.67      17.16      15.76      5.83      8.35

Fund Market Price Returns

       2.60      17.23      15.69      5.79      8.33

WisdomTree U.S. MidCap Index

       2.88      17.65      16.20      6.20      8.70

S&P MidCap 400® Index

       0.45      15.51      12.05      6.06      8.94

Russell Midcap Value Index

       -0.77      11.05      10.98      5.18      7.92
*

Returns of less than one year are cumulative.

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.

 

WisdomTree Trust      9  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. Multifactor Fund (USMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    28.1%  

Health Care

    13.1%  

Financials

    12.5%  

Consumer Discretionary

    10.7%  

Communication Services

    8.8%  

Industrials

    8.7%  

Consumer Staples

    6.3%  

Energy

    4.5%  

Materials

    2.5%  

Real Estate

    2.4%  

Utilities

    2.3%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

VMware, Inc., Class A

    1.4%  

CCC Intelligent Solutions Holdings, Inc.

    1.4%  

International Business Machines Corp.

    1.3%  

Insight Enterprises, Inc.

    1.3%  

VeriSign, Inc.

    1.2%  

Jabil, Inc.

    1.2%  

Cisco Systems, Inc.

    1.2%  

Motorola Solutions, Inc.

    1.2%  

T-Mobile U.S., Inc.

    1.2%  

Gartner, Inc.

    1.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Multifactor Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Multifactor Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. companies with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,032.10        0.28   $ 1.42  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       3.21      14.28      8.76      6.27      8.93

Fund Market Price Returns

       3.23      14.26      8.71      6.26      8.90

WisdomTree U.S. Multifactor Index

       3.39      14.61      9.07      6.48      9.12

S&P 500® Index

       5.18      21.62      10.15      9.92      11.53

S&P 500® Equal Weight Index

       -1.11      13.64      11.45      7.97      9.22

Russell 3000 Index

       4.86      20.46      9.38      9.14      10.87
*

Returns of less than one year are cumulative.

 

1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on June 29, 2017.

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.

 

10   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    29.4%  

Consumer Staples

    16.4%  

Industrials

    14.5%  

Health Care

    13.7%  

Financials

    12.1%  

Consumer Discretionary

    9.2%  

Materials

    2.1%  

Real Estate

    1.1%  

Energy

    0.6%  

Utilities

    0.4%  

Communication Services

    0.3%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Microsoft Corp.

    8.6%  

Apple, Inc.

    5.7%  

Broadcom, Inc.

    3.5%  

Johnson & Johnson

    3.5%  

Procter & Gamble Co.

    2.8%  

Home Depot, Inc.

    2.5%  

Merck & Co., Inc.

    2.3%  

Cisco Systems, Inc.

    2.3%  

Coca-Cola Co.

    2.2%  

Walmart, Inc.

    2.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies with growth characteristics in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,027.40        0.28   $ 1.42  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       2.74      20.21      10.83      9.80      11.98

Fund Market Price Returns

       2.80      20.19      10.75      9.80      11.97

WisdomTree U.S. Quality Dividend Growth Index

       2.88      20.59      11.16      10.13      12.30

S&P 500® Index

       5.18      21.62      10.15      9.92      11.91

Russell 3000® Index

       4.86      20.46      9.38      9.14      11.28
*

Returns of less than one year are cumulative.

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.

 

WisdomTree Trust      11  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. Quality Growth Fund (QGRW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    45.2%  

Consumer Discretionary

    15.7%  

Communication Services

    12.9%  

Financials

    11.0%  

Health Care

    9.2%  

Industrials

    3.6%  

Materials

    1.2%  

Consumer Staples

    0.5%  

Real Estate

    0.5%  

Energy

    0.2%  

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    12.0%  

Microsoft Corp.

    10.8%  

Alphabet, Inc., Class A

    6.5%  

NVIDIA Corp.

    5.8%  

Amazon.com, Inc.

    5.1%  

Tesla, Inc.

    4.5%  

Meta Platforms, Inc., Class A

    3.8%  

Visa, Inc., Class A

    3.4%  

UnitedHealth Group, Inc.

    3.4%  

Mastercard, Inc., Class A

    2.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Quality Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Quality Growth Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. large-capitalization and mid-capitalization companies with the highest composite scores based on two fundamental factors: growth and quality, which are equally weighted. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,118.40        0.28   $ 1.48  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

   
        Cumulative Total Return  
        6-Month      Since Inception1  

Fund NAV Returns

       11.84      26.44

Fund Market Price Returns

       11.91      26.52

WisdomTree U.S. Quality Growth Index

       11.98      26.69

Russell 1000 Growth Index

       9.28      17.84
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on December 15, 2022.

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.

 

12   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. SmallCap Dividend Fund (DES)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    21.9%  

Industrials

    18.6%  

Consumer Discretionary

    14.3%  

Real Estate

    9.3%  

Materials

    8.4%  

Energy

    7.8%  

Consumer Staples

    6.0%  

Information Technology

    4.4%  

Utilities

    3.6%  

Communication Services

    3.1%  

Health Care

    2.4%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

CONSOL Energy, Inc.

    1.2%  

Arch Resources, Inc.

    1.0%  

EPR Properties

    0.9%  

Cogent Communications Holdings, Inc.

    0.9%  

Radian Group, Inc.

    0.9%  

MDC Holdings, Inc.

    0.8%  

Greif, Inc., Class A

    0.7%  

Sabra Health Care REIT, Inc.

    0.7%  

California Resources Corp.

    0.7%  

Jackson Financial, Inc., Class A

    0.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,002.70        0.38   $ 1.90  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       0.27      12.88      13.33      1.85      6.10

Fund Market Price Returns

       0.29      12.82      13.27      1.84      6.08

WisdomTree U.S. SmallCap Dividend Index

       0.41      13.39      13.74      2.24      6.43

Russell 2000® Index

       -0.19      8.93      7.16      2.40      6.65

Russell 2000® Value Index

       0.13      7.84      13.32      2.59      6.19
*

Returns of less than one year are cumulative.

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.

 

WisdomTree Trust      13  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. SmallCap Fund (EES)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.6%  

Consumer Discretionary

    21.9%  

Industrials

    18.4%  

Information Technology

    7.5%  

Health Care

    7.2%  

Energy

    5.4%  

Materials

    5.3%  

Real Estate

    4.0%  

Communication Services

    3.6%  

Consumer Staples

    3.2%  

Utilities

    0.9%  

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Matson, Inc.

    1.1%  

MDC Holdings, Inc.

    1.0%  

Tri Pointe Homes, Inc.

    0.9%  

Genworth Financial, Inc., Class A

    0.8%  

Warrior Met Coal, Inc.

    0.8%  

Gulfport Energy Corp.

    0.8%  

M/I Homes, Inc.

    0.8%  

Century Communities, Inc.

    0.7%  

LCI Industries

    0.6%  

Par Pacific Holdings, Inc.

    0.6%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. SmallCap Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. SmallCap Index (the “Index”). In seeking to track the Index, the Fund invests in earnings-generating small-cap companies in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,007.20        0.38   $ 1.91  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       0.72      12.07      14.78      3.23      7.22

Fund Market Price Returns

       0.91      12.16      14.79      3.22      7.21

WisdomTree U.S. SmallCap Index

       1.02      12.63      15.26      3.56      7.49

Russell 2000® Index

       -0.19      8.93      7.16      2.40      6.65

Russell 2000® Value Index

       0.13      7.84      13.32      2.59      6.19
*

Returns of less than one year are cumulative.

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.

 

14   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    23.3%  

Industrials

    20.9%  

Consumer Discretionary

    20.3%  

Materials

    9.5%  

Energy

    6.4%  

Consumer Staples

    5.5%  

Information Technology

    3.6%  

Real Estate

    3.6%  

Health Care

    3.4%  

Communication Services

    1.7%  

Utilities

    1.7%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

CONSOL Energy, Inc.

    2.6%  

Arch Resources, Inc.

    2.1%  

Moelis & Co., Class A

    1.9%  

SL Green Realty Corp.

    1.7%  

Scotts Miracle-Gro Co.

    1.7%  

Artisan Partners Asset Management, Inc., Class A

    1.7%  

LCI Industries

    1.5%  

NewMarket Corp.

    1.4%  

Carter’s, Inc.

    1.3%  

Kontoor Brands, Inc.

    1.3%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. SmallCap Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. SmallCap Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies with growth characteristics in the U.S. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,006.60        0.38   $ 1.91  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.10        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       0.66      18.19      13.22      4.56      7.24

Fund Market Price Returns

       0.71      18.17      13.16      4.55      7.22

WisdomTree U.S. SmallCap Quality Dividend Growth Index

       0.84      18.54      13.64      4.91      7.55

Russell 2000® Index

       -0.19      8.93      7.16      2.40      6.65
*

Returns of less than one year are cumulative.

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.

 

WisdomTree Trust      15  


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. Total Dividend Fund (DTD)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    16.5%  

Financials

    15.7%  

Health Care

    14.3%  

Energy

    11.2%  

Consumer Staples

    11.0%  

Industrials

    10.4%  

Consumer Discretionary

    6.0%  

Utilities

    5.2%  

Real Estate

    4.5%  

Materials

    2.5%  

Communication Services

    2.4%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    3.7%  

Microsoft Corp.

    3.7%  

Exxon Mobil Corp.

    3.5%  

Chevron Corp.

    2.3%  

AbbVie, Inc.

    2.0%  

JPMorgan Chase & Co.

    1.8%  

Broadcom, Inc.

    1.5%  

Merck & Co., Inc.

    1.5%  

Johnson & Johnson

    1.5%  

Cisco Systems, Inc.

    1.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Total Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. equities from a broad range of dividend-paying companies. 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.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,006.00        0.28   $ 1.40  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.60        0.28   $ 1.42  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       0.60      13.82      11.43      7.43      9.76

Fund Market Price Returns

       0.61      13.86      11.36      7.42      9.76

WisdomTree U.S. Dividend Index

       0.77      14.35      11.82      7.76      10.09

Russell 3000® Index

       4.86      20.46      9.38      9.14      11.28

Russell 3000® Value Index

       0.75      14.05      11.19      5.98      8.29
*

Returns of less than one year are cumulative.

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.

 

16   WisdomTree Trust


Performance Summary

as of September 30, 2023 (unaudited)

WisdomTree U.S. Value Fund (WTV)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    15.5%  

Financials

    14.7%  

Industrials

    12.3%  

Information Technology

    11.8%  

Health Care

    11.4%  

Materials

    10.5%  

Energy

    10.3%  

Communication Services

    7.6%  

Real Estate

    2.7%  

Utilities

    1.6%  

Consumer Staples

    1.5%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Meta Platforms, Inc., Class A

    2.3%  

Chevron Corp.

    1.8%  

Builders FirstSource, Inc.

    1.7%  

Cardinal Health, Inc.

    1.7%  

HCA Healthcare, Inc.

    1.6%  

McKesson Corp.

    1.3%  

Marathon Petroleum Corp.

    1.3%  

Owens Corning

    1.3%  

Laboratory Corp. of America Holdings

    1.3%  

U.S. Steel Corp.

    1.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Value Fund (the “Fund”) is actively managed using a model-based approach seeking income and capital appreciation by investing primarily in U.S. equity securities that provide a high total shareholder yield with favorable relative quality characteristics.

Shareholder Expense Example (for the six-month period ended September 30, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,062.80        0.12   $ 0.62  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.40        0.12   $ 0.61  

Performance

 

   
        Average Annual Total Return  
        6-Month*      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       6.28      23.32      16.47      9.21      10.81

Fund Market Price Returns1

       6.26      23.32      16.38      9.19      10.81

Russell 1000® Value Index

       0.78      14.44      11.05      6.23      8.45
*

Returns of less than one year are cumulative.

 

1 

The Fund’s investment objective changed effective December 18, 2017. Prior to December 18, 2017, the Fund’s investment objective sought to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. LargeCap Value Index.

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.

 

WisdomTree Trust      17  


Description of Terms and Indexes (unaudited)

 

 

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

Correlation is a statistical measure of how two sets of returns move in relation to each other. Correlation coefficients range from -1 to 1. A correlation of 1 means the two subjects of analysis move in lockstep with each other. A correlation of -1 means the two subjects of analysis have moved in exactly the opposite direction.

Factors generally are attributes that are based on fundamentals or share price behavior.

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.

Momentum is generally characterized by assets with recent price increase trends over time. This term is also associated with the momentum factor which associates these stock characteristics with excess return vs. the market over time.

The MSCI USA Extended ESG Focus Index is designed to maximize exposure to positive environmental, social and governance (ESG) factors while exhibiting risk and return characteristics similar to those of the MSCI USA Index, its parent index.

The MSCI USA Momentum Index is designed to reflect the performance of an equity momentum strategy by emphasizing stocks with high price momentum, while maintaining reasonably high trading liquidity, investment capacity and moderate index turnover.

The NASDAQ U.S. Dividend AchieversTM Select Index is a capitalization-weighted index that measures the performance of U.S. common stocks that have a history of increasing dividends for at least ten consecutive years.

The O’Neil Growth Index is comprised of mid- and large-cap companies that provide exposure to high growth and momentum U.S. exchange-listed companies.

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.

Quintiles refers to separating a universe of companies into five groups of equal size on the basis of dividend yield, price-to-earnings, or return-on-equity, as applicable.

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 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”).

The Russell 1000® Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® companies with higher price-to-book ratios and higher forcasted growth values. The Russell 1000® Growth Index is constructed to provide a comprehensive and unbiased barometer for the large-cap growth segment.

The Russell 1000® Index represents the top 1,000 companies by market capitalization in

the United States.

The Russell 1000® Value Index is a capitalization-weighted index that is comprised of the large-capitalization value segment of the U.S. equity universe, selecting from the Russell 1000 Index.

The Russell 2000® Index is a capitalization-weighted index that is comprised of the

smallest 2,000 securities in the Russell 3000 Index, based on total market capitalization.

The Russell 2000® Value Index is a capitalization-weighted index that is comprised of the small-capitalization value segment of the U.S. equity universe, selecting from the Russell 2000 Index.

 

18   WisdomTree Trust


Description of Terms and Indexes (unaudited) (continued)

 

The Russell 3000® Index is a capitalization-weighted index that is comprised of the 3,000 largest U.S. companies, based on total market capitalization.

The Russell 3000® Value Index is a capitalization-weighted index that measures the performance of the value segment of the broad U.S. equity market, selecting from the Russell 3000 Index.

The Russell MidCap® Index is a market capitalization-weighted index that is comprised of the smallest 800 stocks of the Russell 1000 Index.

The Russell MidCap® Value Index is a capitalization-weighted index that measures the midcap value segment of the U.S. equity universe, selecting from the Russell MidCap Index.

The S&P 500® Equal Weight Index is the equal-weight version of the widely used S&P 500® Index. The index includes the same constituents as the capitalization-weighted S&P 500 Index, but each company is allocated a fixed weight — or 0.2% of the index total at each quarterly rebalance.

The S&P 500® Index is a capitalization-weighted index of 500 stocks selected by the Standard & Poor’s Index Committee, designed to represent the performance of the leading industries in the United States economy.

The S&P MidCap 400® Index is a capitalization-weighted index that is comprised of the mid-capitalization range of the U.S. stock market, with stocks selected by the Standard & Poor’s Index Committee.

Shareholder Yield generally refers to a data point that references a combination of dividend yield and buyback yield.

Value is generally characterized by lower price levels relative to fundamentals, such as earnings or dividends. Prices are lower because investors are less certain of the performance of these fundamentals in the future. This term is also related to the value factor, which associates these stock characteristics with excess returns vs. the market over time.

Volatility is a statistical measure of the dispersion of returns for a given security or market index around a particular average level. If the price stays relatively stable, the security has low volatility. A highly volatile security hits new highs and lows quickly, moves erratically, and has rapid increases and dramatic falls.

The WisdomTree U.S. Dividend Index defines the dividend-paying portion of the U.S. stock market.

The WisdomTree U.S. High Dividend Index is comprised of companies with high dividend yields, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. LargeCap Dividend Index is comprised of the large-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. LargeCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the large-capitalization segment of the U.S. stock market.

The WisdomTree U.S. MidCap Dividend Index is comprised of the mid-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. MidCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the mid-capitalization segment of the U.S. stock market.

The WisdomTree U.S. Multifactor Index is comprised of 200 U.S. companies with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation.

 

WisdomTree Trust      19  


Description of Terms and Indexes (unaudited) (concluded)

 

 

The WisdomTree U.S. Quality Growth Index is a market-cap weighted index that consists of companies with quality and growth characteristics. The top 500 U.S. companies by market capitalization are ranked on a composite score of two fundamental factors: growth and quality, which are equally weighted.

The WisdomTree U.S. Quality Dividend Growth Index is comprised of dividend-paying stocks with growth characteristics.

The WisdomTree U.S. SmallCap Dividend Index is comprised of the small-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. SmallCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the small-capitalization segment of the U.S. stock market.

The WisdomTree U.S. SmallCap Quality Dividend Growth Index is comprised of the small-capitalization segment of dividend-paying stocks with growth characteristics.

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

The Dow Jones U.S. Select Dividend Index is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC, and has been licensed for use.

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, 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.

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.

The O’Neil Growth Index is calculated, distributed and marketed by O’Neil Global Advisors, Inc. (OGA), a licensed trademark of OGA, and has been licensed for use.

WisdomTree, 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 is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree 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 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.

 

20   WisdomTree Trust


Schedule of Investments (unaudited)

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

September 30, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.9%      
United States – 95.3%      
Aerospace & Defense – 3.0%      

HEICO Corp.

     6,186      $ 1,001,699  

HEICO Corp., Class A

     7,278        940,463  

L3Harris Technologies, Inc.

     5,400        940,248  

RTX Corp.

     11,177        804,409  

Textron, Inc.

     90,555        7,075,968  
     

 

 

 
Total Aerospace & Defense               10,762,787  
Automobile Components – 0.3%      

Gentex Corp.

     29,440        957,978  
Banks – 6.6%      

Bank of America Corp.

     239,769        6,564,875  

Citigroup, Inc.

     256,974        10,569,341  

U.S. Bancorp

     47,347        1,565,292  

Wells Fargo & Co.

     128,139        5,235,759  
     

 

 

 
Total Banks               23,935,267  
Beverages – 3.4%      

Brown-Forman Corp., Class B

     14,540        838,813  

Keurig Dr Pepper, Inc.

     361,683        11,418,332  
     

 

 

 
Total Beverages               12,257,145  
Capital Markets – 8.5%      

Bank of New York Mellon Corp.

     21,429        913,947  

CME Group, Inc.

     17,378        3,479,423  

FactSet Research Systems, Inc.

     6,884        3,010,098  

Intercontinental Exchange, Inc.

     108,671        11,955,983  

Janus Henderson Group PLC

     35,004        903,803  

Nasdaq, Inc.

     199,404        9,689,040  

Virtu Financial, Inc., Class A

     56,650        978,346  
     

 

 

 
Total Capital Markets               30,930,640  
Chemicals – 6.5%      

Ashland, Inc.

     11,928        974,279  

Dow, Inc.

     168,642        8,695,182  

Eastman Chemical Co.

     11,475        880,362  

Element Solutions, Inc.

     353,387        6,929,919  

Huntsman Corp.

     218,801        5,338,744  

PPG Industries, Inc.

     6,783        880,433  
     

 

 

 
Total Chemicals               23,698,919  
Communications Equipment – 0.3%      

Juniper Networks, Inc.

     34,509        959,005  
Construction & Engineering – 1.2%      

MDU Resources Group, Inc.

     232,074        4,544,009  
Consumer Finance – 0.4%      

Ally Financial, Inc.

     48,615        1,297,048  
Containers & Packaging – 2.8%      

Amcor PLC

     961,667        8,808,869  

International Paper Co.

     43,342        1,537,341  
     

 

 

 
Total Containers & Packaging               10,346,210  
Distributors – 2.1%      

LKQ Corp.

     157,139        7,779,952  
Electric Utilities – 3.9%      

Avangrid, Inc.

     143,501      4,329,425  

OGE Energy Corp.

     28,239        941,206  

PPL Corp.

     385,846        9,090,532  
     

 

 

 
Total Electric Utilities               14,361,163  
Electronic Equipment, Instruments & Components – 1.0%

 

Corning, Inc.

     122,124        3,721,118  
Entertainment – 0.5%      

Electronic Arts, Inc.

     8,014        964,885  

Playtika Holding Corp.*

     98,517        948,719  
     

 

 

 
Total Entertainment               1,913,604  
Food Products – 2.0%      

Conagra Brands, Inc.

     32,180        882,376  

Flowers Foods, Inc.

     88,171        1,955,633  

Hormel Foods Corp.

     24,917        947,593  

Kraft Heinz Co.

     29,059        977,545  

Pilgrim’s Pride Corp.*(a)

     39,764        907,812  

Tyson Foods, Inc., Class A

     35,493        1,792,041  
     

 

 

 
Total Food Products               7,463,000  
Gas Utilities – 0.9%      

National Fuel Gas Co.

     25,561        1,326,872  

UGI Corp.

     88,806        2,042,538  
     

 

 

 
Total Gas Utilities               3,369,410  
Ground Transportation – 0.6%      

CSX Corp.

     44,574        1,370,651  

Schneider National, Inc., Class B

     33,589        930,079  
     

 

 

 
Total Ground Transportation               2,300,730  
Health Care Equipment & Supplies – 7.5%      

Abbott Laboratories

     125,031        12,109,252  

Globus Medical, Inc., Class A*

     36,484        1,811,431  

Hologic, Inc.*

     33,418        2,319,209  

Integra LifeSciences Holdings Corp.*

     39,573        1,511,293  

Medtronic PLC

     122,699        9,614,694  
     

 

 

 
Total Health Care Equipment & Supplies               27,365,879  
Health Care Providers & Services – 0.4%      

Premier, Inc., Class A

     62,524        1,344,266  
Hotels, Restaurants & Leisure – 0.3%      

Wendy’s Co.

     48,587        991,661  
Industrial Conglomerates – 3.3%      

3M Co.

     118,748        11,117,188  

Honeywell International, Inc.

     5,117        945,314  
     

 

 

 
Total Industrial Conglomerates               12,062,502  
Industrial REITs – 0.2%      

First Industrial Realty Trust, Inc.

     19,104        909,159  
Insurance – 3.7%      

American International Group, Inc.

     172,166        10,433,260  

Fidelity National Financial, Inc.

     25,914        1,070,248  

Old Republic International Corp.

     35,157        947,130  

Reinsurance Group of America, Inc.

     7,017        1,018,798  
     

 

 

 
Total Insurance               13,469,436  

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Schedule of Investments (unaudited) (continued)

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

September 30, 2023

 

 

 

Investments    Shares      Value  
IT Services – 0.6%      

DXC Technology Co.*

     64,177      $ 1,336,807  

GoDaddy, Inc., Class A*

     13,261        987,679  
     

 

 

 
Total IT Services               2,324,486  
Life Sciences Tools & Services – 3.0%      

Agilent Technologies, Inc.

     77,527        8,669,069  

Bio-Techne Corp.

     32,927        2,241,341  
     

 

 

 
Total Life Sciences Tools & Services               10,910,410  
Machinery – 6.8%      

Donaldson Co., Inc.

     15,566        928,356  

Dover Corp.

     6,710        936,112  

Fortive Corp.

     153,308        11,369,322  

Gates Industrial Corp. PLC*

     109,621        1,272,700  

Otis Worldwide Corp.

     127,778        10,261,851  
     

 

 

 
Total Machinery               24,768,341  
Media – 4.8%      

Charter Communications, Inc., Class A*(a)

     2,655        1,167,722  

Comcast Corp., Class A

     287,882        12,764,688  

Fox Corp., Class A

     29,596        923,395  

Sirius XM Holdings, Inc.(a)

     583,852        2,639,011  
     

 

 

 
Total Media               17,494,816  
Mortgage Real Estate Investment Trusts (REITs) – 1.0%

 

AGNC Investment Corp.

     379,715        3,584,510  
Multi-Utilities – 3.9%      

CenterPoint Energy, Inc.

     34,476        925,681  

CMS Energy Corp.

     17,113        908,871  

Dominion Energy, Inc.

     31,695        1,415,816  

NiSource, Inc.

     439,293        10,841,751  
     

 

 

 
Total Multi-Utilities               14,092,119  
Oil, Gas & Consumable Fuels – 6.0%      

Exxon Mobil Corp.

     19,717        2,318,325  

Kinder Morgan, Inc.

     382,975        6,349,725  

Occidental Petroleum Corp.

     18,376        1,192,235  

Williams Cos., Inc.

     358,404        12,074,631  
     

 

 

 
Total Oil, Gas & Consumable Fuels               21,934,916  
Pharmaceuticals – 0.8%      

Pfizer, Inc.

     88,233        2,926,689  
Professional Services – 1.7%      

Dun & Bradstreet Holdings, Inc.

     158,455        1,582,965  

Genpact Ltd.

     106,895        3,869,599  

Paychex, Inc.

     7,872        907,878  
     

 

 

 
Total Professional Services               6,360,442  
Software – 0.5%      

Dolby Laboratories, Inc., Class A

     11,384        902,296  

Dropbox, Inc., Class A*

     34,600        942,158  
     

 

 

 
Total Software               1,844,454  
Specialized REITs – 0.5%      

National Storage Affiliates Trust

     29,397        933,061  

SBA Communications Corp.

     4,526        905,969  
     

 

 

 
Total Specialized REITs               1,839,030  
Technology Hardware, Storage & Peripherals – 1.9%

 

Hewlett Packard Enterprise Co.

     392,834      6,823,527  
Tobacco – 3.7%      

Altria Group, Inc.

     296,270        12,458,153  

Philip Morris International, Inc.

     10,010        926,726  
     

 

 

 
Total Tobacco               13,384,879  
Trading Companies & Distributors – 0.3%      

Fastenal Co.

     20,039        1,094,931  
Water Utilities – 0.4%      

Essential Utilities, Inc.

     46,904        1,610,214  
Total United States               347,734,652  
Netherlands – 2.2%      
Life Sciences Tools & Services – 2.2%      

QIAGEN NV*

     198,113        8,023,577  
United Kingdom – 1.4%      
Machinery – 1.4%      

CNH Industrial NV(a)

     429,653        5,198,801  

TOTAL COMMON STOCKS

(Cost: $392,676,092)

              360,957,030  
EXCHANGE-TRADED FUND – 0.4%      
United States – 0.4%      
iShares Russell 1000 Value ETF
(Cost: $1,618,245)
     10,238        1,554,333  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.8%

 

United States – 0.8%      

State Street Navigator Securities Lending Government Money Market Portfolio, 5.36%(b)

     
(Cost: $2,773,297)      2,773,297        2,773,297  

TOTAL INVESTMENTS IN SECURITIES – 100.1%

(Cost: $397,067,634)

        365,284,660  

Other Assets less Liabilities – (0.1)%

        (423,081
     

 

 

 
NET ASSETS – 100.0%             $ 364,861,579  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at September 30, 2023 (See Note 2). At September 30, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $9,108,269 and the total market value of the collateral held by the Fund was $9,513,620. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $6,740,323.

 

(b) 

Rate shown represents annualized 7-day yield as of September 30, 2023.

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Schedule of Investments (unaudited) (concluded)

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

September 30, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of September 30, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 360,957,030      $      $      $ 360,957,030  

Exchange-Traded Fund

     1,554,333                      1,554,333  

Investment of Cash Collateral for Securities Loaned

            2,773,297               2,773,297  

Total Investments in Securities

   $ 362,511,363      $ 2,773,297      $      $ 365,284,660  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Schedule of Investments (unaudited)

WisdomTree U.S. ESG Fund (RESP)

September 30, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%

 

United States – 99.9%

 

Aerospace & Defense – 0.2%

 

Parsons Corp.*

     1,993      $ 108,320  
Air Freight & Logistics – 0.5%      

Expeditors International of Washington, Inc.

     868        99,499  

FedEx Corp.

     870        230,480  
     

 

 

 
Total Air Freight & Logistics

 

     329,979  
Automobile Components – 0.6%

 

BorgWarner, Inc.

     3,212        129,669  

Gentex Corp.

     4,037        131,364  

Lear Corp.

     1,046        140,373  
     

 

 

 
Total Automobile Components

 

     401,406  
Automobiles – 0.2%

 

Thor Industries, Inc.

     1,282        121,957  
Banks – 3.0%      

Bank of America Corp.

     15,541        425,513  

Citizens Financial Group, Inc.

     5,361        143,675  

Comerica, Inc.

     3,353        139,317  

Fifth Third Bancorp

     5,467        138,479  

First Citizens BancShares, Inc., Class A

     40        55,204  

Huntington Bancshares, Inc.

     19,083        198,463  

JPMorgan Chase & Co.

     4,950        717,849  

KeyCorp

     10,812        116,337  

New York Community Bancorp, Inc.

     1,889        21,421  
     

 

 

 
Total Banks

 

     1,956,258  
Beverages – 1.3%

 

Brown-Forman Corp., Class B

     2,847        164,243  

Coca-Cola Consolidated, Inc.

     35        22,271  

Keurig Dr Pepper, Inc.

     4,901        154,725  

Molson Coors Beverage Co., Class B

     2,186        139,008  

PepsiCo, Inc.

     2,225        377,004  
     

 

 

 
Total Beverages

 

     857,251  
Biotechnology – 2.7%

 

AbbVie, Inc.

     2,795        416,623  

Amgen, Inc.

     1,078        289,723  

Biogen, Inc.*

     647        166,285  

Exelixis, Inc.*

     2,609        57,007  

Gilead Sciences, Inc.

     3,048        228,417  

Halozyme Therapeutics, Inc.*

     1,497        57,185  

Incyte Corp.*

     697        40,266  

Neurocrine Biosciences, Inc.*

     118        13,275  

Regeneron Pharmaceuticals, Inc.*

     278        228,783  

United Therapeutics Corp.*

     222        50,143  

Vertex Pharmaceuticals, Inc.*

     542        188,475  
     

 

 

 
Total Biotechnology

 

     1,736,182  
Broadline Retail – 3.0%

 

Amazon.com, Inc.*

     14,885        1,892,181  

Dillard’s, Inc., Class A

     131        43,336  
     

 

 

 
Total Broadline Retail

 

     1,935,517  
Building Products – 1.5%

 

Advanced Drainage Systems, Inc.

     1,099      125,099  

Builders FirstSource, Inc.*

     166        20,665  

Carrier Global Corp.

     4,298        237,250  

Fortune Brands Innovations, Inc.

     1,716        106,667  

Masco Corp.

     2,327        124,378  

Owens Corning

     1,571        214,300  

Simpson Manufacturing Co., Inc.

     310        46,441  

UFP Industries, Inc.

     873        89,395  
     

 

 

 
Total Building Products

 

     964,195  
Capital Markets – 2.5%

 

Ameriprise Financial, Inc.

     485        159,895  

Bank of New York Mellon Corp.

     3,871        165,098  

Cboe Global Markets, Inc.

     549        85,759  

CME Group, Inc.

     942        188,607  

FactSet Research Systems, Inc.

     339        148,231  

Goldman Sachs Group, Inc.

     780        252,385  

Interactive Brokers Group, Inc., Class A

     460        39,818  

LPL Financial Holdings, Inc.

     634        150,670  

Nasdaq, Inc.

     3,641        176,916  

State Street Corp.

     2,701        180,859  

Tradeweb Markets, Inc., Class A

     974        78,115  
     

 

 

 
Total Capital Markets

 

     1,626,353  
Chemicals – 0.8%

 

Albemarle Corp.

     964        163,919  

CF Industries Holdings, Inc.

     2,457        210,663  

Mosaic Co.

     4,202        149,591  
     

 

 

 
Total Chemicals

 

     524,173  
Commercial Services & Supplies – 1.1%

 

Clean Harbors, Inc.*

     849        142,089  

MSA Safety, Inc.

     968        152,605  

Republic Services, Inc.

     1,352        192,674  

Waste Management, Inc.

     1,521        231,861  
     

 

 

 
Total Commercial Services & Supplies

 

     719,229  
Communications Equipment – 1.6%

 

Arista Networks, Inc.*

     873        160,571  

Cisco Systems, Inc.

     9,463        508,731  

Juniper Networks, Inc.

     4,658        129,446  

Motorola Solutions, Inc.

     800        217,792  
     

 

 

 
Total Communications Equipment

 

     1,016,540  
Construction & Engineering – 0.4%      

Comfort Systems USA, Inc.

     503        85,716  

EMCOR Group, Inc.

     786        165,367  
     

 

 

 
Total Construction & Engineering

 

     251,083  
Consumer Finance – 0.4%

 

American Express Co.

     1,919        286,296  
Consumer Staples Distribution & Retail – 0.6%      

Sysco Corp.

     1,561        103,104  

Target Corp.

     1,684        186,200  

U.S. Foods Holding Corp.*

     2,455        97,463  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     386,767  

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Schedule of Investments (unaudited) (continued)

WisdomTree U.S. ESG Fund (RESP)

September 30, 2023

 

 

 

<
Investments    Shares      Value  
Containers & Packaging – 1.1%

 

Berry Global Group, Inc.

     2,868      $ 177,558  

International Paper Co.

     6,372        226,015  

Packaging Corp. of America

     650        99,807  

Sonoco Products Co.

     3,528        191,747  
     

 

 

 
Total Containers & Packaging

 

     695,127  
Diversified Consumer Services – 0.4%

 

ADT, Inc.

     9,208        55,248  

H&R Block, Inc.

     2,597        111,827  

Service Corp. International

     1,384        79,082  
     

 

 

 
Total Diversified Consumer Services

 

     246,157  
Diversified REITs – 0.2%

 

WP Carey, Inc.

     2,116        114,433  
Diversified Telecommunication Services – 1.0%      

AT&T, Inc.

     19,970        299,949  

Verizon Communications, Inc.

     10,926        354,112  
     

 

 

 
Total Diversified Telecommunication Services

 

     654,061  
Electric Utilities – 1.2%

 

Avangrid, Inc.

     4,088        123,335  

Edison International

     2,602        164,680  

Eversource Energy

     2,311        134,385  

Exelon Corp.

     5,081        192,011  

PG&E Corp.*

     9,779        157,735  
     

 

 

 
Total Electric Utilities

 

     772,146  
Electrical Equipment – 0.3%

 

Atkore, Inc.*

     624        93,095  

Hubbell, Inc.

     410        128,498  
     

 

 

 
Total Electrical Equipment

 

     221,593  
Electronic Equipment, Instruments & Components – 1.1%

 

Arrow Electronics, Inc.*

     934        116,974  

Insight Enterprises, Inc.*

     813        118,292  

Jabil, Inc.

     1,779        225,737  

Keysight Technologies, Inc.*

     1,455        192,511  

National Instruments Corp.

     1,214        72,379  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     725,893  
Entertainment – 0.5%

 

Electronic Arts, Inc.

     925        111,370  

Endeavor Group Holdings, Inc., Class A

     6,258        124,534  

Warner Music Group Corp., Class A

     3,683        115,646  
     

 

 

 
Total Entertainment

 

     351,550  
Financial Services – 3.3%

 

Fiserv, Inc.*

     1,842        208,072  

Mastercard, Inc., Class A

     1,706        675,423  

PayPal Holdings, Inc.*

     3,939        230,274  

Visa, Inc., Class A

     3,354        771,454  

Voya Financial, Inc.

     2,749        182,671  

WEX, Inc.*

     536        100,816  
     

 

 

 
Total Financial Services

 

     2,168,710  
Food Products – 2.8%

 

Archer-Daniels-Midland Co.

     2,151        162,229  

Campbell Soup Co.

     3,883      159,514  

Conagra Brands, Inc.

     5,836        160,023  

General Mills, Inc.

     2,828        180,964  

Hershey Co.

     895        179,072  

Hormel Foods Corp.

     2,914        110,819  

J M Smucker Co.

     707        86,897  

Kellogg Co.

     2,951        175,614  

Kraft Heinz Co.

     3,525        118,581  

Lamb Weston Holdings, Inc.

     753        69,622  

McCormick & Co., Inc., Non-Voting Shares

     1,579        119,436  

Mondelez International, Inc., Class A

     3,178        220,553  

Pilgrim’s Pride Corp.*

     3,498        79,859  
     

 

 

 
Total Food Products

 

     1,823,183  
Gas Utilities – 0.1%

 

Atmos Energy Corp.

     339        35,910  
Ground Transportation – 0.3%      

Landstar System, Inc.

     367        64,937  

XPO, Inc.*

     1,594        119,008  
     

 

 

 
Total Ground Transportation

 

     183,945  
Health Care Equipment & Supplies – 2.2%

 

Abbott Laboratories

     2,970        287,644  

Baxter International, Inc.

     4,395        165,867  

Becton Dickinson & Co.

     837        216,390  

Boston Scientific Corp.*

     4,386        231,581  

Edwards Lifesciences Corp.*

     2,570        178,050  

Hologic, Inc.*

     1,079        74,883  

Stryker Corp.

     578        157,950  

Zimmer Biomet Holdings, Inc.

     1,114        125,013  
     

 

 

 
Total Health Care Equipment & Supplies

 

     1,437,378  
Health Care Providers & Services – 4.6%

 

Cardinal Health, Inc.

     1,610        139,780  

Cencora, Inc.

     934        168,092  

Centene Corp.*

     2,075        142,926  

Chemed Corp.

     73        37,938  

Cigna Group

     840        240,299  

CVS Health Corp.

     3,778        263,780  

DaVita, Inc.*

     1,102        104,172  

Elevance Health, Inc.

     520        226,418  

Encompass Health Corp.

     706        47,415  

HCA Healthcare, Inc.

     502        123,482  

Henry Schein, Inc.*

     1,477        109,667  

Humana, Inc.

     454        220,880  

Laboratory Corp. of America Holdings

     438        88,060  

McKesson Corp.

     392        170,461