WisdomTree Trust
Semi-Annual Report
September 30, 2021
WisdomTree Europe Hedged Equity Fund (HEDJ)
WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)
WisdomTree Germany Hedged Equity Fund (DXGE)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
WisdomTree Japan Hedged Equity Fund (DXJ)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
Information about Performance and Shareholder Expense Examples (unaudited) |
1 | |||
2 | ||||
8 | ||||
Schedules of Investments (unaudited) |
| |||
10 | ||||
13 | ||||
16 | ||||
WisdomTree International Hedged Quality Dividend Growth Fund |
18 | |||
26 | ||||
32 | ||||
41 | ||||
42 | ||||
43 | ||||
45 | ||||
48 | ||||
Approval of Investment Advisory and Sub-Advisory Agreements (unaudited) |
58 | |||
61 |
“WisdomTree” is a registered mark of 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.
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, 2021 to September 30, 2021. 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 183/365 (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.
WisdomTree Trust | 1 |
as of September 30, 2021 (unaudited)
WisdomTree Europe Hedged Equity Fund (HEDJ)
Sector Breakdown†
Sector | % of Net Assets | |||
Materials |
22.7% | |||
Industrials |
18.4% | |||
Consumer Staples |
18.4% | |||
Information Technology |
13.3% | |||
Consumer Discretionary |
11.6% | |||
Health Care |
9.1% | |||
Communication Services |
3.8% | |||
Financials |
1.2% | |||
Energy |
0.8% | |||
Utilities |
0.2% | |||
Other Assets less Liabilities‡ |
0.5% | |||
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. It does not include derivatives (if any). |
‡ |
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 | |||
Linde PLC |
6.7% | |||
ASML Holding N.V. |
6.6% | |||
Unilever PLC |
5.8% | |||
Koninklijke Ahold Delhaize N.V. |
4.0% | |||
LVMH Moet Hennessy Louis Vuitton SE |
3.7% | |||
L’Oreal S.A. |
3.7% | |||
Siemens AG, Registered Shares |
3.4% | |||
BASF SE |
3.4% | |||
Deutsche Telekom AG, Registered Shares |
3.2% | |||
Sanofi |
3.1% |
* |
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 Europe Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Hedged Equity Index (the “Index”). In seeking to track the Index, the Fund invests in European dividend-paying companies while at the same time hedging exposure to the fluctuations of the value of the euro relative to the U.S. dollar. 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, 2021)
Beginning Account Value |
Ending Account Value |
Annualized Expense Ratio |
Expenses Paid During the Period |
|||||||||||||
Actual |
$ | 1,000.00 | $ | 1,062.60 | 0.59 | % | $ | 3.05 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,022.11 | 0.59 | % | $ | 2.99 |
Performance
Average Annual Total Return | ||||||||||||||||||||
6-Month* | 1 Year | 3 Year | 5 Year | 10 Year | ||||||||||||||||
Fund NAV Returns |
6.26 | % | 25.70 | % | 8.61 | % | 9.67 | % | 10.40 | % | ||||||||||
Fund Market Price Returns |
6.03 | % | 25.72 | % | 8.68 | % | 9.67 | % | 10.59 | % | ||||||||||
WisdomTree DEFA International Hedged Equity/Europe Hedged Equity Spliced Index1 |
6.45 | % | 26.47 | % | 9.19 | % | 10.16 | % | 10.86 | % | ||||||||||
MSCI EAFE Local Currency/MSCI EMU Local Currency Spliced Index2 |
6.12 | % | 30.35 | % | 7.81 | % | 8.78 | % | 9.78 | % |
* |
Returns of less than one year are cumulative. |
1 |
WisdomTree DEFA International Hedged Equity Index prior to August 29, 2012; WisdomTree Europe Hedged Equity Index thereafter. |
2 |
MSCI EAFE Local Currency Index prior to August 29, 2012; MSCI EMU Local Currency Index thereafter. |
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, 2021 (unaudited)
WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)
Sector Breakdown†
Sector | % of Net Assets | |||
Industrials |
16.9% | |||
Utilities |
14.2% | |||
Real Estate |
13.4% | |||
Financials |
12.4% | |||
Information Technology |
9.6% | |||
Materials |
8.4% | |||
Communication Services |
6.7% | |||
Consumer Discretionary |
5.2% | |||
Consumer Staples |
5.1% | |||
Energy |
3.9% | |||
Health Care |
3.8% | |||
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. It does not include derivatives (if any). |
‡ |
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 | |||
ASM International N.V. |
4.0% | |||
Mediobanca Banca di Credito Finanziario SpA |
3.2% | |||
Covivio |
2.7% | |||
ASR Nederland N.V. |
2.5% | |||
A2A SpA |
2.4% | |||
Italgas SpA |
2.1% | |||
Proximus SADP |
2.0% | |||
METRO AG |
2.0% | |||
Enagas S.A. |
1.8% | |||
Valmet Oyj |
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 Europe Hedged SmallCap Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Hedged SmallCap Equity Index (the “Index”). In seeking to track the Index, the Fund invests in European small-cap dividend-paying companies while at the same time hedging exposure to fluctuations of the value of the euro relative to the U.S. dollar. 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, 2021)
Beginning Account Value |
Ending Account Value |
Annualized Expense Ratio |
Expenses Paid During the Period |
|||||||||||||
Actual |
$ | 1,000.00 | $ | 1,067.50 | 0.62 | % | $ | 3.21 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,021.96 | 0.62 | % | $ | 3.14 |
Performance
Average Annual Total Return | ||||||||||||||||||||
6-Month* | 1 Year | 3 Year | 5 Year | Since Inception1 |
||||||||||||||||
Fund NAV Returns |
6.75 | % | 33.42 | % | 8.65 | % | 10.77 | % | 8.79 | % | ||||||||||
Fund Market Price Returns |
6.85 | % | 33.96 | % | 8.83 | % | 10.82 | % | 8.66 | % | ||||||||||
WisdomTree Europe Hedged SmallCap Equity Index |
6.73 | % | 33.92 | % | 8.87 | % | 10.94 | % | 8.92 | % | ||||||||||
MSCI European Economic and Monetary Union (EMU) Small Cap Local Currency Index |
7.82 | % | 38.79 | % | 10.70 | % | 11.51 | % | 9.65 | % |
* |
Returns of less than one year are cumulative. |
1 |
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on March 4, 2015. |
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, 2021 (unaudited)
WisdomTree Germany Hedged Equity Fund (DXGE)
Sector Breakdown†
Sector | % of Net Assets | |||
Industrials |
19.0% | |||
Financials |
14.4% | |||
Consumer Discretionary |
13.7% | |||
Materials |
12.7% | |||
Health Care |
12.3% | |||
Information Technology |
9.3% | |||
Utilities |
7.5% | |||
Communication Services |
6.0% | |||
Consumer Staples |
3.3% | |||
Energy |
0.1% | |||
Real Estate |
0.1% | |||
Other Assets less Liabilities‡ |
1.6% | |||
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. It does not include derivatives (if any). |
‡ |
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 | |||
Siemens AG, Registered Shares |
6.4% | |||
BASF SE |
6.2% | |||
Deutsche Post AG, Registered Shares |
6.1% | |||
Deutsche Telekom AG, Registered Shares |
6.0% | |||
Allianz SE, Registered Shares |
5.9% | |||
SAP SE |
5.6% | |||
Bayer AG, Registered Shares |
5.1% | |||
Bayerische Motoren Werke AG |
4.5% | |||
E.ON SE |
4.4% | |||
Daimler AG, Registered Shares |
3.8% |
* |
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 Germany Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Germany Hedged Equity Index (the “Index”). In seeking to track the Index, the Fund invests in German dividend-paying companies with an exporter tilt while at the same time hedging exposure to fluctuations of the value of the euro relative to the U.S. dollar. 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, 2021)
Beginning Account Value |
Ending Account Value |
Annualized Expense Ratio |
Expenses Paid During the Period |
|||||||||||||
Actual |
$ | 1,000.00 | $ | 1,025.10 | 0.48 | % | $ | 2.44 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,022.66 | 0.48 | % | $ | 2.43 |
Performance
Average Annual Total Return | ||||||||||||||||||||
6-Month* | 1 Year | 3 Year | 5 Year | Since Inception1 |
||||||||||||||||
Fund NAV Returns |
2.51 | % | 25.87 | % | 8.33 | % | 8.96 | % | 8.17 | % | ||||||||||
Fund Market Price Returns |
2.27 | % | 25.88 | % | 8.42 | % | 8.94 | % | 8.04 | % | ||||||||||
WisdomTree Germany Hedged Equity Index |
2.54 | % | 26.56 | % | 8.69 | % | 9.26 | % | 8.39 | % | ||||||||||
MSCI Germany Local Currency Index |
1.66 | % | 17.86 | % | 6.04 | % | 6.60 | % | 6.35 | % |
* |
Returns of less than one year are cumulative. |
1 |
Total returns are calculated based on the commencement of Fund trading on the NASDAQ on October 17, 2013. |
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, 2021 (unaudited)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
Sector Breakdown†
Sector | % of Net Assets | |||
Health Care |
19.3% | |||
Materials |
18.8% | |||
Industrials |
14.1% | |||
Information Technology |
13.9% | |||
Consumer Discretionary |
11.8% | |||
Consumer Staples |
7.7% | |||
Communication Services |
4.6% | |||
Financials |
4.6% | |||
Real Estate |
2.4% | |||
Energy |
1.2% | |||
Utilities |
0.7% | |||
Investment Company |
0.1% | |||
Other Assets less Liabilities‡ |
0.8% | |||
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. It does not include derivatives (if any). |
‡ |
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 | |||
Rio Tinto PLC |
5.4% | |||
Unilever PLC |
5.3% | |||
LVMH Moet Hennessy Louis Vuitton SE |
4.8% | |||
BHP Group Ltd. |
4.4% | |||
SoftBank Corp. |
4.1% | |||
Roche Holding AG |
3.8% | |||
GlaxoSmithKline PLC |
3.7% | |||
SAP SE |
3.3% | |||
Linde PLC |
3.2% | |||
Novo Nordisk A/S, Class B |
3.1% |
* |
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 International Hedged Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Hedged Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in developed countries, excluding U.S. and Canada, while at the same time hedging exposure to fluctuations of the value of the applicable foreign currencies relative to the U.S. dollar. 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, 2021)
Beginning Account Value |
Ending Account Value |
Annualized Net Expense Ratio |
Expenses Paid During the Period |
|||||||||||||
Actual |
$ | 1,000.00 | $ | 1,072.90 | 0.58 | % | $ | 3.01 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,022.16 | 0.58 | % | $ | 2.94 |
Performance
Average Annual Total Return | ||||||||||||||||||||
6-Month* | 1 Year | 3 Year | 5 Year | Since Inception1 |
||||||||||||||||
Fund NAV Returns |
7.29 | % | 22.41 | % | 12.99 | % | 12.39 | % | 10.28 | % | ||||||||||
Fund Market Price Returns |
6.63 | % | 21.90 | % | 12.92 | % | 12.21 | % | 10.12 | % | ||||||||||
WisdomTree International Hedged Quality Dividend Growth Index |
7.65 | % | 23.11 | % | 13.64 | % | 13.11 | % | 10.96 | % | ||||||||||
MSCI EAFE Local Currency Index |
6.17 | % | 27.20 | % | 7.16 | % | 9.01 | % | 7.35 | % |
* |
Returns of less than one year are cumulative. |
1 |
Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 7, 2014. |
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, 2021 (unaudited)
WisdomTree Japan Hedged Equity Fund (DXJ)
Sector Breakdown†
Sector | % of Net Assets | |||
Industrials |
20.4% | |||
Consumer Discretionary |
17.8% | |||
Financials |
15.8% | |||
Information Technology |
12.9% | |||
Health Care |
10.1% | |||
Consumer Staples |
8.3% | |||
Materials |
7.9% | |||
Communication Services |
3.7% | |||
Energy |
2.0% | |||
Utilities |
0.1% | |||
Other Assets less Liabilities‡ |
1.0% | |||
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. It does not include derivatives (if any). |
‡ |
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 | |||
Toyota Motor Corp. |
5.5% | |||
Mitsubishi UFJ Financial Group, Inc. |
4.8% | |||
Sumitomo Mitsui Financial Group, Inc. |
3.3% | |||
Japan Tobacco, Inc. |
3.0% | |||
Mitsubishi Corp. |
2.8% | |||
Takeda Pharmaceutical Co., Ltd. |
2.7% | |||
Tokyo Electron Ltd. |
2.4% | |||
ITOCHU Corp. |
2.4% | |||
Canon, Inc. |
2.1% | |||
Mizuho Financial Group, Inc. |
2.1% |
* |
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 Japan Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged Equity Index (the “Index”). The Fund seeks to provide Japanese equity returns while mitigating or “hedging” against fluctuations between the value of the Japanese yen and the U.S. dollar. In seeking to track the Index, the Fund invests in Japanese dividend-paying companies with an exporter tilt while at the same time hedging exposure to fluctuations of the value of the Japanese yen relative to the U.S. dollar. 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, 2021)
Beginning Account Value |
Ending Account Value |
Annualized Expense Ratio |
Expenses Paid During the Period |
|||||||||||||
Actual |
$ | 1,000.00 | $ | 1,051.10 | 0.48 | % | $ | 2.47 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,022.66 | 0.48 | % | $ | 2.43 |
Performance
Average Annual Total Return | ||||||||||||||||||||
6-Month* | 1 Year | 3 Year | 5 Year | 10 Year | ||||||||||||||||
Fund NAV Returns |
5.11 | % | 33.53 | % | 5.46 | % | 11.02 | % | 10.56 | % | ||||||||||
Fund Market Price Returns |
3.63 | % | 31.78 | % | 5.27 | % | 10.70 | % | 10.65 | % | ||||||||||
WisdomTree Japan Hedged Equity Index |
5.28 | % | 33.81 | % | 5.89 | % | 11.62 | % | 11.15 | % | ||||||||||
MSCI Japan Local Currency Index |
5.29 | % | 29.06 | % | 6.91 | % | 11.50 | % | 12.43 | % |
* |
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, 2021 (unaudited)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
Sector Breakdown†
Sector | % of Net Assets | |||
Industrials |
26.7% | |||
Consumer Discretionary |
15.6% | |||
Materials |
14.3% | |||
Information Technology |
10.9% | |||
Financials |
10.9% | |||
Consumer Staples |
6.7% | |||
Health Care |
4.7% | |||
Communication Services |
3.3% | |||
Real Estate |
2.6% | |||
Utilities |
2.0% | |||
Energy |
1.3% | |||
Other Assets less Liabilities‡ |
1.0% | |||
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. It does not include derivatives (if any). |
‡ |
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 | |||
Nippon Yusen K.K. |
1.4% | |||
Sojitz Corp. |
0.8% | |||
Seven Bank Ltd. |
0.8% | |||
JTEKT Corp. |
0.6% | |||
Mebuki Financial Group, Inc. |
0.6% | |||
Electric Power Development Co., Ltd. |
0.6% | |||
Yokohama Rubber Co., Ltd. (The) |
0.6% | |||
AEON Financial Service Co., Ltd. |
0.6% | |||
Tokyo Tatemono Co., Ltd. |
0.6% | |||
Mitsui OSK Lines Ltd. |
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 Japan Hedged SmallCap Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged SmallCap Equity Index (the “Index”). In seeking to track the Index, the Fund invests in Japanese small-cap dividend-paying companies while at the same time hedging exposure to fluctuations of the value of the Japanese yen relative to the U.S. dollar. 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, 2021)
Beginning Account Value |
Ending Account Value |
Annualized Expense Ratio |
Expenses Paid During the Period |
|||||||||||||
Actual |
$ | 1,000.00 | $ | 1,032.60 | 0.58 | % | $ | 2.96 | ||||||||
Hypothetical (5% return before expenses) |
$ | 1,000.00 | $ | 1,022.16 | 0.58 | % | $ | 2.94 |
Performance
Average Annual Total Return | ||||||||||||||||||||
6-Month* | 1 Year | 3 Year | 5 Year | Since Inception1 |
||||||||||||||||
Fund NAV Returns |
3.26 | % | 19.67 | % | 2.56 | % | 10.39 | % | 10.14 | % | ||||||||||
Fund Market Price Returns |
2.14 | % | 18.38 | % | 2.40 | % | 10.15 | % | 9.93 | % | ||||||||||
WisdomTree Japan Hedged SmallCap Equity Index |
3.46 | % | 20.20 | % | 3.05 | % | 11.05 | % | 10.96 | % | ||||||||||
MSCI Japan Small Cap Local Currency Index |
3.47 | % | 21.02 | % | 4.00 | % | 9.96 | % | 10.56 | % |
* |
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 28, 2013. |
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 |
Description of Terms and Indexes (unaudited)
Below are descriptions of certain terms and of each Index referenced in this report:
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 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 European Economic and Monetary Union (EMU) Local Currency Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of the developed market countries within the EMU. The securities are priced in local currency terms with no conversion into U.S. dollars.
The MSCI European Economic and Monetary Union (EMU) Small Cap Local Currency Index is a free float-adjusted market capitalization weighted index that captures small cap representation across the 10 Developed Market countries in the EMU and is calculated in local currency.
The MSCI Germany Local Currency Index is a capitalization weighted index that measures the performance of the Germany equity market and provides local currency returns, which are not translated back to U.S. dollars.
The MSCI Japan Index is a capitalization weighted index that is comprised of stocks in Japan.
The MSCI Japan Local Currency Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan and calculated in local currency.
The MSCI Japan Small Cap Local Currency Index is a free float-adjusted market capitalization index that is designed to measure the performance of small cap stocks within Japan and calculated in local currency.
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.
The WisdomTree DEFA International Hedged Equity Index is a dividend weighted index designed to provide exposure to developed world, non-U.S. equity securities while at the same time neutralizing exposure to fluctuations between the value of the U.S. dollar and non-U.S. currencies reflected in the index. This index is based on the WisdomTree International Equity Index.
The WisdomTree Europe Hedged Equity Index is designed to provide exposure to European equities while at the same time neutralizing exposure to fluctuations between the Euro and the U.S. dollar.
The WisdomTree Europe Hedged SmallCap Equity Index is designed to provide exposure to the European equity markets while at the same time neutralizing exposure to fluctuations of the Euro movements relative to U.S. dollar.
The WisdomTree Germany Hedged Equity Index is designed to provide exposure to Germany equity markets while at the same time neutralizing exposure to fluctuations of the Euro movements relative to the U.S. dollar. In this sense, the Index “hedges” against fluctuations in the relative value of the Euro against the U.S. dollar.
The WisdomTree International Hedged Quality Dividend Growth Index is designed to provide exposure to the developed market companies while at the same time neutralizing exposure to fluctuations between the value of foreign currencies and the U.S. dollar.
The WisdomTree Japan Hedged Equity Index is designed to provide exposure to Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese Yen movements relative to the U.S. dollar.
8 | WisdomTree Trust |
Description of Terms and Indexes (unaudited) (concluded)
The WisdomTree Japan Hedged SmallCap Equity Index is designed to provide exposure to the small-capitalization segment of the Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese Yen movements relative to the U.S. dollar.
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.
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.
* * * * * *
Abbreviations used in the schedules of investments and related tables included in this report are as follows:
Currency abbreviations: | ||||||||||
AUD | Australian dollar | ILS | Israeli new shekel | |||||||
CHF | Swiss franc | JPY | Japanese yen | |||||||
DKK | Danish krone | NOK | Norwegian krone | |||||||
EUR | Euro | SEK | Swedish krona | |||||||
GBP | British pound | SGD | Singapore dollar | |||||||
HKD | Hong Kong dollar | USD | U.S. dollar | |||||||
Other abbreviations: | ||||||||||
CVA | Certificaten Van Aandelen (Certificate of Stock) | |||||||||
RSP | Risparmio Italian Savings Shares |
WisdomTree Trust | 9 |
Schedule of Investments (unaudited)
WisdomTree Europe Hedged Equity Fund (HEDJ)
September 30, 2021
Investments | Shares | Value | ||||||
COMMON STOCKS – 99.5% |
| |||||||
Austria – 0.2% |
| |||||||
Andritz AG |
86,465 | $ | 4,737,863 | |||||
Belgium – 3.2% |
| |||||||
Barco N.V. |
140,430 | 3,051,588 | ||||||
Bekaert S.A. |
57,908 | 2,414,707 | ||||||
Fagron |
18,537 | 363,070 | ||||||
Melexis N.V. |
41,326 | 4,406,319 | ||||||
Solvay S.A. |
281,172 | 35,079,291 | ||||||
UCB S.A. |
140,017 | 15,707,997 | ||||||
Umicore S.A. |
98,225 | 5,833,052 | ||||||
|
|
|||||||
Total Belgium |
|
66,856,024 | ||||||
Finland – 5.9% |
| |||||||
Cargotec Oyj, Class B |
123,753 | 6,313,504 | ||||||
Fiskars Oyj Abp |
64,669 | 1,434,507 | ||||||
Huhtamaki Oyj(a) |
176,108 | 7,959,914 | ||||||
Kemira Oyj |
324,614 | 5,011,136 | ||||||
Kone Oyj, Class B |
845,584 | 59,563,766 | ||||||
Konecranes Oyj* |
187,694 | 7,563,447 | ||||||
Metso Outotec Oyj |
217,760 | 1,997,280 | ||||||
Neles Oyj |
931,583 | 12,793,949 | ||||||
Revenio Group Oyj |
18,478 | 1,174,617 | ||||||
Valmet Oyj |
459,144 | 16,676,795 | ||||||
|
|
|||||||
Total Finland |
|
120,488,915 | ||||||
France – 24.5% |
| |||||||
Air Liquide S.A. |
269,438 | 43,273,707 | ||||||
Arkema S.A. |
36,739 | 4,875,257 | ||||||
BioMerieux(a) |
5,142 | 587,351 | ||||||
Cie Generale des Etablissements Michelin SCA(a) |
71,958 | 11,074,952 | ||||||
Danone S.A.(a) |
545,031 | 37,299,740 | ||||||
Dassault Systemes SE(a) |
122,545 | 6,457,100 | ||||||
Gaztransport Et Technigaz S.A. |
26,859 | 2,015,553 | ||||||
Hermes International(a) |
15,656 | 21,709,919 | ||||||
Imerys S.A. |
95,913 | 4,166,216 | ||||||
IPSOS |
15,311 | 698,253 | ||||||
Kering S.A. |
33,843 | 24,160,964 | ||||||
L’Oreal S.A. |
184,630 | 76,357,670 | ||||||
Legrand S.A. |
100,928 | 10,850,184 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
106,848 | 76,787,906 | ||||||
Pernod Ricard S.A. |
104,758 | 23,152,750 | ||||||
Publicis Groupe S.A. |
170,560 | 11,516,284 | ||||||
Remy Cointreau S.A.(a) |
6,176 | 1,198,911 | ||||||
Rubis SCA |
115,393 | 3,997,331 | ||||||
Sanofi |
661,609 | 63,703,396 | ||||||
Sartorius Stedim Biotech(a) |
2,378 | 1,333,069 | ||||||
Schneider Electric SE(a) |
380,548 | 63,465,095 | ||||||
SEB S.A. |
11,130 | 1,572,402 | ||||||
Societe BIC S.A.(a) |
48,520 | 2,862,222 | ||||||
Teleperformance |
9,842 | 3,879,312 | ||||||
Vicat S.A. |
48,479 | 2,163,112 | ||||||
Wendel SE(a) |
29,124 | 4,047,016 | ||||||
|
|
|||||||
Total France |
|
503,205,672 | ||||||
Germany – 26.0% |
| |||||||
BASF SE |
915,640 | 69,878,767 | ||||||
Bayer AG, Registered Shares |
979,942 | 53,383,756 | ||||||
Bayerische Motoren Werke AG |
377,103 | 36,169,722 | ||||||
Beiersdorf AG |
30,354 | 3,287,808 | ||||||
Brenntag SE |
78,184 | 7,301,462 | ||||||
Continental AG* |
96,809 | 10,635,134 | ||||||
Covestro AG(b) |
80,359 | 5,526,457 | ||||||
Daimler AG, Registered Shares |
318,057 | 28,279,925 | ||||||
Deutsche Telekom AG, Registered Shares |
3,250,914 | 65,541,983 | ||||||
Duerr AG |
34,021 | 1,467,534 | ||||||
Eckert & Ziegler Strahlen- und Medizintechnik AG |
4,233 | 547,491 | ||||||
Evonik Industries AG |
378,435 | 11,960,274 | ||||||
Fresenius Medical Care AG & Co. KGaA |
115,465 | 8,144,173 | ||||||
Fresenius SE & Co. KGaA |
206,078 | 9,919,974 | ||||||
GEA Group AG |
41,052 | 1,883,582 | ||||||
Hannover Rueck SE |
76,342 | 13,390,927 | ||||||
Hapag-Lloyd AG(b) |
50,872 | 11,137,186 | ||||||
HeidelbergCement AG |
38,319 | 2,876,867 | ||||||
Henkel AG & Co. KGaA |
87,131 | 7,528,094 | ||||||
Infineon Technologies AG |
221,369 | 9,114,138 | ||||||
Knorr-Bremse AG |
63,391 | 6,805,983 | ||||||
Krones AG |
6,282 | 615,568 | ||||||
LANXESS AG |
29,995 | 2,036,399 | ||||||
Merck KGaA |
19,278 | 4,192,521 | ||||||
SAP SE |
460,083 | 62,321,957 | ||||||
Siemens AG, Registered Shares |
430,473 | 70,803,417 | ||||||
Siemens Healthineers AG(b) |
320,525 | 20,869,322 | ||||||
Siltronic AG |
15,045 | 2,374,838 | ||||||
Software AG |
26,103 | 1,219,764 | ||||||
Symrise AG |
25,176 | 3,316,048 | ||||||
Vitesco Technologies Group AG, Class A* |
19,033 | 1,124,973 | ||||||
Wacker Chemie AG |
5,800 | 1,084,916 | ||||||
|
|
|||||||
Total Germany |
|
534,740,960 | ||||||
Ireland – 3.5% |
| |||||||
CRH PLC |
1,137,265 | 53,459,429 | ||||||
Glanbia PLC |
526,847 | 8,694,792 | ||||||
Kerry Group PLC, Class A(a) |
72,388 | 9,731,712 | ||||||
|
|
|||||||
Total Ireland |
|
71,885,933 | ||||||
Italy – 1.2% |
| |||||||
Carel Industries SpA(b) |
39,774 | 1,085,563 | ||||||
Davide Campari-Milano N.V.(a) |
282,322 | 3,985,260 | ||||||
Ferrari N.V.(a) |
80,098 | 16,797,512 | ||||||
Reply SpA |
16,309 | 3,012,870 | ||||||
|
|
|||||||
Total Italy |
|
24,881,205 | ||||||
Netherlands – 18.3% |
| |||||||
Akzo Nobel N.V. |
267,986 | 29,312,764 | ||||||
ASM International N.V. |
72,039 | 28,236,182 | ||||||
ASML Holding N.V. |
181,408 | 135,795,825 | ||||||
BE Semiconductor Industries N.V. |
92,603 | 7,368,745 | ||||||
Corbion N.V. |
32,917 | 1,593,109 | ||||||
EXOR N.V. |
87,994 | 7,436,429 |
See Notes to Financial Statements.
10 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree Europe Hedged Equity Fund (HEDJ)
September 30, 2021
Investments | Shares | Value | ||||||
IMCD N.V. |
26,927 | $ | 5,156,965 | |||||
Koninklijke Ahold Delhaize N.V. |
2,463,819 | 82,051,155 | ||||||
Koninklijke DSM N.V. |
177,882 | 35,613,508 | ||||||
Koninklijke Vopak N.V. |
181,630 | 7,157,003 | ||||||
SBM Offshore N.V. |
390,087 | 6,962,206 | ||||||
Wolters Kluwer N.V. |
277,929 | 29,498,450 | ||||||
|
|
|||||||
Total Netherlands |
|
376,182,341 | ||||||
Spain – 3.7% |
| |||||||
ACS Actividades de Construccion y Servicios S.A.(a) |
1,577,119 | 42,861,958 | ||||||
Cie Automotive S.A. |
305,381 | 7,708,406 | ||||||
Grifols S.A.(a) |
331,023 | 8,087,112 | ||||||
Prosegur Cash S.A.(b) |
5,182,620 | 4,180,452 | ||||||
Prosegur Cia de Seguridad S.A. |
1,894,607 | 5,643,090 | ||||||
Viscofan S.A. |
104,037 | 6,818,442 | ||||||
|
|
|||||||
Total Spain |
|
75,299,460 | ||||||
Switzerland – 0.5% |
| |||||||
STMicroelectronics N.V.(a) |
236,812 | 10,364,728 | ||||||
United Kingdom – 12.5% |
| |||||||
Linde PLC |
467,173 | 138,660,260 | ||||||
Unilever PLC |
2,191,682 | 118,480,625 | ||||||
|
|
|||||||
Total United Kingdom |
|
257,140,885 | ||||||
TOTAL COMMON STOCKS (Cost: $1,687,361,588) |
|
2,045,783,986 | ||||||
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6% |
| |||||||
United States – 1.6% |
| |||||||
State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(c) |
||||||||
(Cost: $32,724,682) | 32,724,682 | $ | 32,724,682 | |||||
TOTAL INVESTMENTS IN SECURITIES – 101.1% (Cost: $1,720,086,270) |
|
2,078,508,668 | ||||||
Other Assets less Liabilities – (1.1)% |
|
(23,006,838 | ) | |||||
|
|
|||||||
NET ASSETS – 100.0% |
|
$ | 2,055,501,830 |
* |
Non-income producing security. |
(a) |
Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $38,470,136 and the total market value of the collateral held by the Fund was $40,488,051. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $7,763,369. |
(b) |
This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers. |
(c) |
Rate shown represents annualized 7-day yield as of September 30, 2021. |
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 464,609,800 | EUR | 538,477,648 | USD | $ | — | $ | (8,601 | ) | ||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 534,481,525 | USD | 452,493,350 | EUR | 10,055,086 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 15,984,494 | USD | 13,620,250 | EUR | 199,026 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 516,304,827 | USD | 445,238,909 | EUR | 3,706 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 464,611,806 | EUR | 538,477,649 | USD | — | (6,278 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 534,481,525 | USD | 452,491,051 | EUR | 10,057,750 | — | |||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 516,304,827 | USD | 445,241,597 | EUR | 589 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 464,613,007 | EUR | 538,477,648 | USD | — | (4,884 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 534,481,525 | USD | 452,486,838 | EUR | 10,062,634 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 516,304,827 | USD | 445,230,462 | EUR | 13,501 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 464,612,607 | EUR | 538,477,648 | USD | — | (5,348 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 534,481,524 | USD | 452,489,901 | EUR | 10,059,082 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 516,304,827 | USD | 445,243,133 | EUR | — | (1,192 | ) | ||||||||||||||||||||
$ | 40,451,374 | $ | (26,303 | ) |
See Notes to Financial Statements.
WisdomTree Trust | 11 |
Schedule of Investments (unaudited) (concluded)
WisdomTree Europe Hedged Equity Fund (HEDJ)
September 30, 2021
FAIR VALUATION SUMMARY |
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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 |
$ | 2,045,783,986 | $ | — | $ | — | $ | 2,045,783,986 | ||||||||
Investment of Cash Collateral for Securities Loaned |
— | 32,724,682 | — | 32,724,682 | ||||||||||||
Total Investments in Securities |
$ | 2,045,783,986 | $ | 32,724,682 | $ | — | $ | 2,078,508,668 | ||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | 40,451,374 | $ | — | $ | 40,451,374 | ||||||||
Liabilities: |
|
|||||||||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | (26,303 | ) | $ | — | $ | (26,303 | ) | ||||||
Total – Net |
$ | 2,045,783,986 | $ | 73,149,753 | $ | — | $ | 2,118,933,739 |
1 |
Amount shown represents the unrealized appreciation (depreciation) on the financial instrument. |
See Notes to Financial Statements.
12 | WisdomTree Trust |
Schedule of Investments (unaudited)
WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)
September 30, 2021
Investments | Shares | Value | ||||||
COMMON STOCKS – 99.6% |
| |||||||
Austria – 4.5% |
| |||||||
Andritz AG |
4,782 | $ | 262,030 | |||||
AT&S Austria Technologie & Systemtechnik AG |
1,730 | 66,064 | ||||||
CA Immobilien Anlagen AG |
11,618 | 491,461 | ||||||
Oesterreichische Post AG(a) |
9,529 | 404,197 | ||||||
Schoeller-Bleckmann Oilfield Equipment AG* |
2,601 | 105,204 | ||||||
Telekom Austria AG* |
11,411 | 98,657 | ||||||
UNIQA Insurance Group AG |
31,903 | 284,700 | ||||||
Vienna Insurance Group AG Wiener Versicherung Gruppe |
7,897 | 227,890 | ||||||
Voestalpine AG |
4,108 | 152,541 | ||||||
Wienerberger AG |
8,902 | 300,637 | ||||||
|
|
|||||||
Total Austria |
|
2,393,381 | ||||||
Belgium – 12.0% |
| |||||||
Aedifica S.A. |
3,597 | 449,390 | ||||||
Barco N.V. |
7,410 | 161,022 | ||||||
Bekaert S.A. |
3,162 | 131,852 | ||||||
Cofinimmo S.A. |
5,143 | 780,823 | ||||||
D’ieteren Group |
3,467 | 510,296 | ||||||
Elia Group S.A./N.V. |
3,802 | 454,733 | ||||||
Euronav N.V. |
84,627 | 804,440 | ||||||
Fagron |
1,668 | 32,670 | ||||||
Intervest Offices & Warehouses N.V. |
3,217 | 88,175 | ||||||
Melexis N.V. |
2,270 | 242,035 | ||||||
Orange Belgium S.A. |
5,775 | 129,977 | ||||||
Proximus SADP |
54,728 | 1,087,139 | ||||||
Recticel S.A. |
4,605 | 76,639 | ||||||
Telenet Group Holding N.V. |
15,590 | 595,522 | ||||||
Warehouses De Pauw CVA |
19,150 | 776,786 | ||||||
Xior Student Housing N.V. |
1,042 | 58,872 | ||||||
|
|
|||||||
Total Belgium |
|
6,380,371 | ||||||
Denmark – 0.2% |
| |||||||
Cementir Holding N.V. | 10,403 | 101,396 | ||||||
Finland – 12.1% |
| |||||||
Anora Group Oyj(a) |
3,328 | 38,647 | ||||||
Cargotec Oyj, Class B |
6,485 | 330,845 | ||||||
Huhtamaki Oyj |
9,418 | 425,685 | ||||||
Kamux Corp. |
2,155 | 31,993 | ||||||
Kemira Oyj |
16,959 | 261,800 | ||||||
Kojamo Oyj |
19,849 | 412,002 | ||||||
Konecranes Oyj* |
10,217 | 411,711 | ||||||
Lassila & Tikanoja Oyj |
2,795 | 44,119 | ||||||
Metsa Board Oyj |
43,305 | 406,275 | ||||||
Metso Outotec Oyj |
9,956 | 91,316 | ||||||
Neles Oyj |
50,217 | 689,658 | ||||||
Nokian Renkaat Oyj |
11,277 | 405,285 | ||||||
Oriola Oyj, Class B |
17,574 | 36,172 | ||||||
Orion Oyj, Class B |
17,293 | 686,429 | ||||||
Raisio Oyj, Class V |
16,362 | 64,379 | ||||||
Revenio Group Oyj |
966 | 61,407 | ||||||
Rovio Entertainment Oyj(a)(b) |
5,575 | 37,313 | ||||||
Sanoma Oyj |
7,592 | 119,135 | ||||||
Talenom Oyj |
2,100 | 34,024 | ||||||
Terveystalo Oyj(b) |
6,987 | 87,454 | ||||||
TietoEVRY Oyj |
9,280 | 279,631 | ||||||
Tokmanni Group Corp. |
4,057 | 99,021 | ||||||
Uponor Oyj |
10,128 | 252,129 | ||||||
Valmet Oyj |
24,555 | 891,874 | ||||||
Verkkokauppa.com Oyj |
7,682 | 70,334 | ||||||
YIT Oyj |
36,126 | 191,338 | ||||||
|
|
|||||||
Total Finland |
|
6,459,976 | ||||||
France – 11.6% |
| |||||||
ABC Arbitrage |
3,863 | 31,339 | ||||||
Albioma S.A. |
2,109 | 83,104 | ||||||
Chargeurs S.A. |
1,938 | 58,577 | ||||||
Cie Plastic Omnium S.A. |
10,659 | 273,995 | ||||||
Covivio |
16,965 | 1,431,757 | ||||||
Derichebourg S.A.* |
19,867 | 230,018 | ||||||
Gaztransport Et Technigaz S.A. |
4,147 | 311,199 | ||||||
Imerys S.A. |
14,114 | 613,076 | ||||||
IPSOS |
2,649 | 120,807 | ||||||
Kaufman & Broad S.A. |
3,557 | 148,612 | ||||||
Nexity S.A. |
13,502 | 644,703 | ||||||
Quadient S.A. |
3,101 | 74,753 | ||||||
Rubis SCA |
17,256 | 597,765 | ||||||
Societe BIC S.A. |
7,772 | 458,475 | ||||||
Trigano S.A. |
1,455 | 274,188 | ||||||
Vicat S.A. |
4,583 | 204,492 | ||||||
Wendel SE |
4,609 | 640,458 | ||||||
|
|
|||||||
Total France |
|
6,197,318 | ||||||
Germany – 15.4% |
| |||||||
1&1 AG |
1,684 | 53,359 | ||||||
alstria office REIT AG |
23,693 | 431,381 | ||||||
Aurubis AG |
4,077 | 308,923 | ||||||
Bechtle AG |
4,365 | 299,988 | ||||||
Bilfinger SE |
1,309 | 45,785 | ||||||
CANCOM SE |
1,557 | 92,426 | ||||||
CompuGroup Medical SE & Co. KgaA |
1,113 | 91,713 | ||||||
CropEnergies AG |
9,547 | 132,995 | ||||||
Dermapharm Holding SE |
4,289 | 414,559 | ||||||
DIC Asset AG |
15,208 | 268,962 | ||||||
Duerr AG |
6,136 | 264,683 | ||||||
Eckert & Ziegler Strahlen- und Medizintechnik AG |
607 | 78,509 | ||||||
Elmos Semiconductor SE |
1,553 | 79,013 | ||||||
Encavis AG(a) |
8,683 | 152,256 | ||||||
Freenet AG |
879 | 23,054 | ||||||
Fuchs Petrolub SE |
2,756 | 100,869 | ||||||
GEA Group AG |
7,337 | 336,642 | ||||||
Gerresheimer AG |
1,210 | 118,918 | ||||||
GFT Technologies SE |
2,374 | 78,551 | ||||||
GRENKE AG |
3,372 | 144,634 | ||||||
Hamborner REIT AG |
13,465 | 145,909 | ||||||
Hamburger Hafen und Logistik AG |
9,382 | 210,941 | ||||||
Hornbach Baumarkt AG |
2,620 | 118,421 |
See Notes to Financial Statements.
WisdomTree Trust | 13 |
Schedule of Investments (unaudited) (continued)
WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)
September 30, 2021
Investments | Shares | Value | ||||||
Hornbach Holding AG & Co. KGaA |
1,213 | $ | 157,731 | |||||
Indus Holding AG |
2,181 | 83,919 | ||||||
Jenoptik AG |
994 | 33,753 | ||||||
Krones AG |
1,333 | 130,620 | ||||||
LANXESS AG |
5,250 | 356,429 | ||||||
METRO AG |
80,439 | 1,047,846 | ||||||
MLP SE |
4,940 | 40,993 | ||||||
Nemetschek SE |
2,320 | 243,871 | ||||||
PATRIZIA AG* |
3,802 | 100,685 | ||||||
Rheinmetall AG |
4,525 | 444,607 | ||||||
Siltronic AG |
1,992 | 314,435 | ||||||
Software AG |
4,998 | 233,551 | ||||||
STRATEC SE |
324 | 45,961 | ||||||
Suedzucker AG |
9,277 | 149,124 | ||||||
TAG Immobilien AG |
13,174 | 386,586 | ||||||
VERBIO Vereinigte BioEnergie AG |
3,017 | 198,954 | ||||||
Wacker Chemie AG |
876 | 163,860 | ||||||
Wuestenrot & Wuerttembergische AG |
2,403 | 50,965 | ||||||
|
|
|||||||
Total Germany |
|
8,176,381 | ||||||
Ireland – 1.2% |
| |||||||
Glanbia PLC |
28,025 | 462,509 | ||||||
Hibernia REIT PLC |
85,799 | 116,142 | ||||||
Irish Continental Group PLC* |
7,219 | 36,101 | ||||||
|
|
|||||||
Total Ireland |
|
614,752 | ||||||
Italy – 20.0% |
| |||||||
A2A SpA |
614,369 | 1,264,197 | ||||||
ACEA SpA |
18,083 | 386,452 | ||||||
Alerion Cleanpower SpA(a) |
4,551 | 79,643 | ||||||
Anima Holding SpA(b) |
66,739 | 319,831 | ||||||
Ascopiave SpA |
20,145 | 81,131 | ||||||
Azimut Holding SpA |
27,225 | 749,685 | ||||||
Buzzi Unicem SpA |
4,877 | 111,603 | ||||||
Carel Industries SpA(b) |
2,074 | 56,606 | ||||||
Danieli & C. Officine Meccaniche SpA |
1,341 | 38,776 | ||||||
Danieli & C. Officine Meccaniche SpA, RSP |
2,240 | 42,835 | ||||||
Datalogic SpA |
5,037 | 102,100 | ||||||
Enav SpA*(b) |
107,240 | 503,109 | ||||||
ERG SpA |
16,013 | 476,947 | ||||||
Falck Renewables SpA |
11,765 | 91,696 | ||||||
Fiera Milano SpA*(a) |
16,105 | 67,007 | ||||||
Hera SpA |
149,887 | 614,244 | ||||||
Immobiliare Grande Distribuzione SIIQ SpA* |
26,080 | 118,484 | ||||||
Interpump Group SpA |
2,353 | 152,712 | ||||||
Iren SpA |
168,542 | 500,831 | ||||||
Italgas SpA |
174,534 | 1,120,610 | ||||||
La Doria SpA |
1,265 | 24,659 | ||||||
Mediobanca Banca di Credito Finanziario SpA* |
138,786 | 1,679,233 | ||||||
Piaggio & C. SpA |
53,553 | 185,327 | ||||||
Prysmian SpA |
7,974 | 280,201 | ||||||
RAI Way SpA(b) |
27,194 | 164,516 | ||||||
Reply SpA |
874 | 161,460 | ||||||
SOL SpA |
4,605 | 101,402 | ||||||
Telecom Italia SpA |
1,412,180 | 555,478 | ||||||
Telecom Italia SpA, RSP |
1,464,707 | 593,963 | ||||||
Zignago Vetro SpA |
2,806 | 55,544 | ||||||
|
|
|||||||
Total Italy |
|
10,680,282 | ||||||
Netherlands – 12.5% |
| |||||||
Aalberts N.V. |
8,266 | 477,653 | ||||||
ASM International N.V. |
5,387 | 2,111,472 | ||||||
ASR Nederland N.V. |
28,868 | 1,322,204 | ||||||
BE Semiconductor Industries N.V. |
6,396 | 508,952 | ||||||
Corbion N.V. |
2,304 | 111,508 | ||||||
Euronext N.V.(b) |
5,673 | 642,351 | ||||||
ForFarmers N.V. |
13,108 | 65,703 | ||||||
IMCD N.V. |
1,937 | 370,967 | ||||||
SBM Offshore N.V. |
28,963 | 516,927 | ||||||
TKH Group N.V., CVA |
6,627 | 371,422 | ||||||
Van Lanschot Kempen N.V. |
5,651 | 174,537 | ||||||
|
|
|||||||
Total Netherlands |
|
6,673,696 | ||||||
Portugal – 1.6% |
| |||||||
Altri, SGPS, S.A. |
51,494 | 319,581 | ||||||
Corticeira Amorim, SGPS, S.A. |
5,310 | 72,864 | ||||||
REN – Redes Energeticas Nacionais, SGPS, S.A. |
55,426 | 163,802 | ||||||
Sonae, SGPS, S.A. |
290,353 | 305,714 | ||||||
|
|
|||||||
Total Portugal |
|
861,961 | ||||||
Spain – 8.5% |
| |||||||
Acciona S.A. |
3,237 | 537,218 | ||||||
Almirall S.A. |
10,440 | 166,004 | ||||||
Cia de Distribucion Integral Logista Holdings S.A. |
16,004 | 337,756 | ||||||
Cie Automotive S.A. |
16,421 | 414,498 | ||||||
Ebro Foods S.A.(a) |
8,751 | 166,937 | ||||||
Enagas S.A. |
43,304 | 963,845 | ||||||
Ercros S.A.* |
8,171 | 33,476 | ||||||
Faes Farma S.A. |
40,256 | 157,693 | ||||||
Global Dominion Access S.A.(b) |
9,982 | 50,439 | ||||||
Grupo Catalana Occidente S.A. |
7,594 | 277,234 | ||||||
Inmobiliaria Colonial Socimi S.A. |
46,252 | 449,199 | ||||||
Miquel y Costas & Miquel S.A. |
4,053 | 79,477 | ||||||
Pharma Mar S.A.(a) |
327 | 28,226 | ||||||
Prosegur Cash S.A.(a)(b) |
159,185 | 128,403 | ||||||
Prosegur Cia de Seguridad S.A. |
57,766 | 172,056 | ||||||
Viscofan S.A. |
5,749 | 376,782 | ||||||
Zardoya Otis S.A. |
22,502 | 183,072 | ||||||
|
|
|||||||
Total Spain |
|
4,522,315 | ||||||
TOTAL COMMON STOCKS (Cost: $47,221,977) |
|
53,061,829 | ||||||
RIGHTS – 0.0% |
| |||||||
Austria – 0.0% |
| |||||||
CA Immobilien
Anlagen AG*† (Cost: $0) |
8,284 | 0 |
See Notes to Financial Statements.
14 | WisdomTree Trust |
Schedule of Investments (unaudited) (concluded)
WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)
September 30, 2021
Investments | Shares | Value | ||||||
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.7% |
| |||||||
United States – 1.7% |
| |||||||
State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(c) |
||||||||
(Cost: $905,426) | 905,426 | $ | 905,426 | |||||
TOTAL INVESTMENTS IN SECURITIES – 101.3% (Cost: $48,127,403) |
53,967,255 | |||||||
Other Assets less Liabilities – (1.3)% |
(671,631 | ) | ||||||
|
|
|||||||
NET ASSETS – 100.0% | $ | 53,295,624 |
* |
Non-income producing security. |
† |
Security is being fair valued using significant unobservable inputs by a pricing committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $0, which represents 0.0% of net assets. |
(a) |
Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $939,713 and the total market value of the collateral held by the Fund was $991,437. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $86,011. |
(b) |
This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers. |
(c) |
Rate shown represents annualized 7-day yield as of September 30, 2021. |
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 11,978,429 | EUR | 13,882,868 | USD | $ | — | $ | (222 | ) | ||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 13,882,868 | USD | 11,753,270 | EUR | 261,175 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 13,313,299 | USD | 11,480,812 | EUR | 96 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 11,978,482 | EUR | 13,882,869 | USD | — | (162 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 13,882,868 | USD | 11,753,210 | EUR | 261,245 | — | |||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 13,313,298 | USD | 11,480,881 | EUR | 15 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 11,978,512 | EUR | 13,882,868 | USD | — | (126 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 13,882,868 | USD | 11,753,100 | EUR | 261,372 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 13,313,299 | USD | 11,480,594 | EUR | 348 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 11,978,502 | EUR | 13,882,868 | USD | — | (138 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 13,882,869 | USD | 11,753,181 | EUR | 261,279 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 13,313,299 | USD | 11,480,921 | EUR | — | (31 | ) | ||||||||||||||||||||
Standard Chartered Bank |
10/4/2021 | 26,000 | USD | 22,440 | EUR | — | (6 | ) | ||||||||||||||||||||
$ | 1,045,530 | $ | (685 | ) |
FAIR VALUATION SUMMARY |
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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 |
$ | 53,061,829 | $ | — | $ | — | $ | 53,061,829 | ||||||||
Rights |
— | — | 0 | * | 0 | |||||||||||
Investment of Cash Collateral for Securities Loaned |
— | 905,426 | — | 905,426 | ||||||||||||
Total Investments in Securities |
$ | 53,061,829 | $ | 905,426 | $ | 0 | $ | 53,967,255 | ||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | 1,045,530 | $ | — | $ | 1,045,530 | ||||||||
Liabilities: |
|
|||||||||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | (685 | ) | $ | — | $ | (685 | ) | ||||||
Total – Net |
$ | 53,061,829 | $ | 1,950,271 | $ | 0 | $ | 55,012,100 |
* |
Security is being fair valued using significant unobservable inputs by the Pricing Committee. |
1 |
Amount shown represents the unrealized appreciation (depreciation) on the financial instrument. |
See Notes to Financial Statements.
WisdomTree Trust | 15 |
Schedule of Investments (unaudited)
WisdomTree Germany Hedged Equity Fund (DXGE)
September 30, 2021
Investments | Shares | Value | ||||||
COMMON STOCKS – 98.4% |
| |||||||
Germany – 98.4% |
| |||||||
Air Freight & Logistics – 6.1% |
| |||||||
Deutsche Post AG, Registered Shares |
30,610 | $ | 1,932,703 | |||||
Auto Components – 1.8% |
| |||||||
Continental AG* |
4,592 | 504,463 | ||||||
Vitesco Technologies Group AG, Class A* |
900 | 53,207 | ||||||
|
|
|||||||
Total Auto Components |
|
557,670 | ||||||
Automobiles – 11.7% |
| |||||||
Bayerische Motoren Werke AG |
14,803 | 1,419,826 | ||||||
Daimler AG, Registered Shares |
13,435 | 1,194,568 | ||||||
Volkswagen AG |
3,512 | 1,090,822 | ||||||
|
|
|||||||
Total Automobiles |
|
3,705,216 | ||||||
Capital Markets – 1.6% |
| |||||||
Deutsche Boerse AG |
3,026 | 492,731 | ||||||
Chemicals – 11.2% |
| |||||||
BASF SE |
25,841 | 1,972,104 | ||||||
Covestro AG(a) |
5,754 | 395,715 | ||||||
Evonik Industries AG |
18,407 | 581,745 | ||||||
Fuchs Petrolub SE |
1,116 | 40,845 | ||||||
LANXESS AG |
3,716 | 252,284 | ||||||
Symrise AG |
1,930 | 254,209 | ||||||
Wacker Chemie AG |
174 | 32,548 | ||||||
|
|
|||||||
Total Chemicals |
|
3,529,450 | ||||||
Construction Materials – 0.9% |
| |||||||
HeidelbergCement AG |
3,681 | 276,358 | ||||||
Diversified Financial Services – 0.1% |
| |||||||
GRENKE AG |
647 | 27,752 | ||||||
Diversified Telecommunication Services – 6.0% |
| |||||||
Deutsche Telekom AG, Registered Shares |
93,979 | 1,894,719 | ||||||
Electronic Equipment, Instruments & Components – 0.0% |
| |||||||
Jenoptik AG |
222 | 7,539 | ||||||
Food & Staples Retailing – 1.2% |
| |||||||
METRO AG |
29,407 | 383,073 | ||||||
Food Products – 0.1% |
| |||||||
Suedzucker AG |
1,838 | 29,545 | ||||||
Health Care Equipment & Supplies – 3.1% |
| |||||||
Carl Zeiss Meditec AG, Bearer Shares |
281 | 54,077 | ||||||
Eckert & Ziegler Strahlen- und Medizintechnik AG |
128 | 16,555 | ||||||
Siemens Healthineers AG(a) |
13,946 | 908,021 | ||||||
STRATEC SE |
66 | 9,363 | ||||||
|
|
|||||||
Total Health Care Equipment & Supplies |
|
988,016 | ||||||
Health Care Providers & Services – 2.9% |
| |||||||
Fresenius Medical Care AG & Co. KGaA |
5,790 | 408,390 | ||||||
Fresenius SE & Co. KGaA |
10,847 | 522,142 | ||||||
|
|
|||||||
Total Health Care Providers & Services |
|
930,532 | ||||||
Health Care Technology – 0.1% |
| |||||||
CompuGroup Medical SE & Co. KgaA |
203 | 16,728 | ||||||
Household Products – 1.2% |
| |||||||
Henkel AG & Co. KGaA |
4,380 | 378,431 | ||||||
Independent Power & Renewable Electricity Producers – 1.8% |
| |||||||
Encavis AG |
1,719 | 30,142 | ||||||
Uniper SE |
12,883 | 538,254 | ||||||
|
|
|||||||
Total Independent Power & Renewable Electricity Producers |
|
568,396 | ||||||
Industrial Conglomerates – 7.2% |
| |||||||
Rheinmetall AG |
2,709 | 266,175 | ||||||
Siemens AG, Registered Shares |
12,262 | 2,016,831 | ||||||
|
|
|||||||
Total Industrial Conglomerates |
|
2,283,006 | ||||||
Insurance – 12.8% |
| |||||||
Allianz SE, Registered Shares |
8,310 | 1,876,479 | ||||||
Hannover Rueck SE |
3,588 | 629,361 | ||||||
Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares |
4,077 | 1,119,362 | ||||||
Talanx AG |
9,750 | 416,735 | ||||||
|
|
|||||||
Total Insurance |
|
4,041,937 | ||||||
IT Services – 0.8% |
| |||||||
Bechtle AG |
3,276 | 225,145 | ||||||
CANCOM SE |
303 | 17,987 | ||||||
|
|
|||||||
Total IT Services |
|
243,132 | ||||||
Life Sciences Tools & Services – 0.1% |
| |||||||
Gerresheimer AG |
240 | 23,587 | ||||||
Machinery – 3.0% |
| |||||||
Duerr AG |
1,215 | 52,411 | ||||||
GEA Group AG |
5,568 | 255,476 | ||||||
KION Group AG |
35 | 3,280 | ||||||
Knorr-Bremse AG |
3,394 | 364,397 | ||||||
Krones AG |
264 | 25,869 | ||||||
Rational AG |
275 | 259,622 | ||||||
|
|
|||||||
Total Machinery |
|
961,055 | ||||||
Marine – 1.1% |
| |||||||
Hapag-Lloyd AG(a) |
1,583 | 346,559 | ||||||
Metals & Mining – 0.7% |
| |||||||
Aurubis AG |
2,854 | 216,254 | ||||||
Multi-Utilities – 5.7% |
| |||||||
E.ON SE |
113,248 | 1,387,037 | ||||||
RWE AG |
11,382 | 402,990 | ||||||
|
|
|||||||
Total Multi-Utilities |
|
1,790,027 | ||||||
Oil, Gas & Consumable Fuels – 0.1% |
| |||||||
CropEnergies AG |
1,896 | 26,412 | ||||||
Personal Products – 0.7% |
| |||||||
Beiersdorf AG |
2,200 | 238,294 | ||||||
Pharmaceuticals – 6.1% |
| |||||||
Bayer AG, Registered Shares |
29,457 | 1,604,712 | ||||||
Merck KGaA |
1,528 | 332,305 | ||||||
|
|
|||||||
Total Pharmaceuticals |
|
1,937,017 | ||||||
Real Estate Management & Development – 0.1% |
| |||||||
PATRIZIA AG* |
765 | 20,259 |
See Notes to Financial Statements.
16 | WisdomTree Trust |
Schedule of Investments (unaudited) (concluded)
WisdomTree Germany Hedged Equity Fund (DXGE)
September 30, 2021
Investments | Shares | Value | ||||||
Semiconductors & Semiconductor Equipment – 2.6% |
| |||||||
Infineon Technologies AG |
12,192 | $ | 501,965 | |||||
Siltronic AG |
1,942 | 306,543 | ||||||
|
|
|||||||
Total Semiconductors & Semiconductor Equipment |
|
808,508 | ||||||
Software – 5.9% |
| |||||||
Nemetschek SE |
459 | 48,249 | ||||||
SAP SE |
13,086 | 1,772,604 | ||||||
Software AG |
990 | 46,262 | ||||||
|
|
|||||||
Total Software |
|
1,867,115 | ||||||
Specialty Retail – 0.2% |
| |||||||
Hornbach Baumarkt AG |
521 | 23,549 | ||||||
Hornbach Holding AG & Co. KGaA |
244 | 31,728 | ||||||
|
|
|||||||
Total Specialty Retail |
|
55,277 | ||||||
Trading Companies & Distributors – 1.4% |
| |||||||
Brenntag SE |
4,772 | 445,648 | ||||||
Transportation Infrastructure – 0.1% |
| |||||||
Hamburger Hafen und Logistik AG | 1,865 | 41,932 | ||||||
TOTAL INVESTMENTS IN SECURITIES – 98.4% (Cost: $27,538,331) |
|
31,064,878 | ||||||
Other Assets less Liabilities – 1.6% |
|
507,493 | ||||||
|
|
|||||||
NET ASSETS – 100.0% |
|
$ | 31,572,371 |
* |
Non-income producing security. |
(a) |
This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers. |
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 7,056,756 | EUR | 8,178,703 | USD | $ | — | $ | (131 | ) | ||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 8,178,703 | USD | 6,924,110 | EUR | 153,864 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 7,951,315 | USD | 6,856,869 | EUR | 57 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 7,056,786 | EUR | 8,178,702 | USD | — | (95 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 8,178,703 | USD | 6,924,075 | EUR | 153,905 | — | |||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 7,951,313 | USD | 6,856,909 | EUR | 9 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 7,056,805 | EUR | 8,178,703 | USD | — | (74 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 8,178,703 | USD | 6,924,010 | EUR | 153,980 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 7,951,315 | USD | 6,856,739 | EUR | 208 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 7,056,799 | EUR | 8,178,703 | USD | — | (81 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 8,178,702 | USD | 6,924,056 | EUR | 153,925 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 7,951,315 | USD | 6,856,935 | EUR | — | (18 | ) | ||||||||||||||||||||
Royal Bank of Canada |
10/4/2021 | 13,000 | USD | 11,225 | EUR | — | (10 | ) | ||||||||||||||||||||
$ | 615,948 | $ | (409 | ) |
FAIR VALUATION SUMMARY |
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 in valuing the Fund’s investments (See Note 2 – Fair Value Measurement):
Quoted Prices in Markets |
Other Significant Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Total | |||||||||||||
Assets: |
||||||||||||||||
Investments in Securities |
||||||||||||||||
Common Stocks |
$ | 31,064,878 | $ | — | $ | — | $ | 31,064,878 | ||||||||
Total Investments in Securities |
$ | 31,064,878 | $ | — | $ | — | $ | 31,064,878 | ||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | 615,948 | $ | — | $ | 615,948 | ||||||||
Liabilities: |
||||||||||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | (409 | ) | $ | — | $ | (409 | ) | ||||||
Total – Net |
$ | 31,064,878 | $ | 615,539 | $ | — | $ | 31,680,417 |
1 |
Amount shown represents the unrealized appreciation (depreciation) on the financial instrument. |
See Notes to Financial Statements.
WisdomTree Trust | 17 |
Schedule of Investments (unaudited)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
Investments | Shares | Value | ||||||
COMMON STOCKS – 99.1% |
| |||||||
Australia – 9.6% |
| |||||||
ARB Corp., Ltd. |
7,970 | $ | 281,754 | |||||
Beach Energy Ltd.(a) |
868,705 | 938,126 | ||||||
BHP Group Ltd.(a) |
1,719,695 | 46,719,973 | ||||||
BlueScope Steel Ltd. |
114,811 | 1,700,142 | ||||||
Brambles Ltd. |
508,534 | 3,956,248 | ||||||
Breville Group Ltd.(a) |
19,439 | 408,475 | ||||||
Charter Hall Group |
148,305 | 1,837,248 | ||||||
Codan Ltd. |
21,658 | 199,782 | ||||||
CSL Ltd. |
40,207 | 8,521,374 | ||||||
Domino’s Pizza Enterprises Ltd. |
23,657 | 2,742,043 | ||||||
Elders Ltd. |
23,854 | 210,734 | ||||||
Evolution Mining Ltd. |
607,180 | 1,530,702 | ||||||
Goodman Group |
352,398 | 5,518,748 | ||||||
JB Hi-Fi Ltd. |
47,305 | 1,555,454 | ||||||
Mineral Resources Ltd. |
90,415 | 2,926,599 | ||||||
Netwealth Group Ltd. |
16,752 | 176,188 | ||||||
NIB Holdings Ltd. |
122,320 | 615,854 | ||||||
Northern Star Resources Ltd. |
83,481 | 512,571 | ||||||
Ramelius Resources Ltd. |
26,105 | 25,174 | ||||||
Rio Tinto Ltd. |
277,473 | 20,079,347 | ||||||
St Barbara Ltd. |
340,371 | 329,462 | ||||||
Technology One Ltd. |
80,965 | 664,391 | ||||||
|
|
|||||||
Total Australia |
|
101,450,389 | ||||||
Belgium – 0.1% |
| |||||||
Fagron |
12,848 | 251,644 | ||||||
Melexis N.V. |
8,949 | 954,173 | ||||||
|
|
|||||||
Total Belgium |
|
1,205,817 | ||||||
China – 1.9% |
| |||||||
China Overseas Grand Oceans Group Ltd. |
2,770,000 | 1,697,302 | ||||||
China Overseas Land & Investment Ltd. |
6,986,527 | 15,921,202 | ||||||
China Tobacco International HK Co., Ltd.(a) |
159,000 | 339,460 | ||||||
CSPC Pharmaceutical Group Ltd. |
1,711,481 | 2,053,430 | ||||||
|
|
|||||||
Total China |
|
20,011,394 | ||||||
Denmark – 5.4% |
| |||||||
Coloplast A/S, Class B |
36,320 | 5,697,554 | ||||||
DSV A/S |
9,494 | 2,279,501 | ||||||
H. Lundbeck A/S |
34,504 | 938,143 | ||||||
Novo Nordisk A/S, Class B |
333,407 | 32,290,505 | ||||||
Novozymes A/S, Class B |
36,108 | 2,476,196 | ||||||
Orsted A/S(b) |
55,769 | 7,377,804 | ||||||
Royal Unibrew A/S |
15,833 | 1,909,999 | ||||||
Vestas Wind Systems A/S |
99,052 | 3,975,295 | ||||||
|
|
|||||||
Total Denmark |
|
56,944,997 | ||||||
Finland – 2.3% |
| |||||||
Kone Oyj, Class B |
133,589 | 9,410,140 | ||||||
Neste Oyj |
177,497 | 10,073,626 | ||||||
Orion Oyj, Class B |
35,429 | 1,406,320 | ||||||
Tokmanni Group Corp. |
10,264 | 250,519 | ||||||
Uponor Oyj |
26,994 | 671,995 | ||||||
Valmet Oyj |
74,664 | 2,711,908 | ||||||
|
|
|||||||
Total Finland |
|
24,524,508 | ||||||
France – 6.5% |
| |||||||
BioMerieux |
2,453 | 280,197 | ||||||
Gaztransport Et Technigaz S.A. |
18,607 | 1,396,307 | ||||||
Hermes International |
7,830 | 10,857,733 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
70,133 | 50,402,125 | ||||||
Sartorius Stedim Biotech |
2,855 | 1,600,467 | ||||||
Trigano S.A. |
7,360 | 1,386,957 | ||||||
Verallia S.A.(b) |
58,878 | 2,033,452 | ||||||
|
|
|||||||
Total France |
|
67,957,238 | ||||||
Germany – 6.3% |
| |||||||
Bechtle AG |
15,473 | 1,063,393 | ||||||
CANCOM SE |
6,754 | 400,927 | ||||||
Carl Zeiss Meditec AG, Bearer Shares |
3,814 | 733,980 | ||||||
CompuGroup Medical SE & Co. KgaA |
1,196 | 98,552 | ||||||
Dermapharm Holding SE |
12,990 | 1,255,567 | ||||||
Eckert & Ziegler Strahlen- und Medizintechnik AG |
971 | 125,588 | ||||||
Fuchs Petrolub SE |
38,654 | 1,414,723 | ||||||
Infineon Technologies AG |
194,751 | 8,018,229 | ||||||
Knorr-Bremse AG |
33,281 | 3,573,219 | ||||||
Nemetschek SE |
6,887 | 723,939 | ||||||
SAP SE |
252,734 | 34,234,861 | ||||||
Siemens Healthineers AG(b) |
187,960 | 12,238,040 | ||||||
Softwareone Holding AG* |
14,422 | 317,706 | ||||||
Symrise AG |
12,873 | 1,695,563 | ||||||
|
|
|||||||
Total Germany |
|
65,894,287 | ||||||
Hong Kong – 2.1% |
| |||||||
Hong Kong Exchanges & Clearing Ltd. |
256,200 | 15,790,660 | ||||||
Techtronic Industries Co., Ltd. |
296,500 | 5,907,414 | ||||||
Vitasoy International Holdings Ltd.(a) |
126,000 | 320,477 | ||||||
|
|
|||||||
Total Hong Kong |
|
22,018,551 | ||||||
Israel – 0.2% |
| |||||||
Matrix IT Ltd. |
18,382 | 490,069 | ||||||
Maytronics Ltd. |
12,753 | 301,457 | ||||||
Strauss Group Ltd. |
28,560 | 835,779 | ||||||
|
|
|||||||
Total Israel |
|
1,627,305 | ||||||
Italy – 0.9% |
| |||||||
Davide Campari-Milano N.V. |
38,023 | 536,733 | ||||||
DiaSorin SpA |
5,041 | 1,059,495 | ||||||
Ferrari N.V. |
18,820 | 3,946,780 | ||||||
Interpump Group SpA |
18,472 | 1,198,855 | ||||||
Recordati Industria Chimica e Farmaceutica SpA(a) |
51,169 | 2,981,720 | ||||||
Zignago Vetro SpA |
9,970 | 197,355 | ||||||
|
|
|||||||
Total Italy |
|
9,920,938 | ||||||
Japan – 19.6% |
| |||||||
ABC-Mart, Inc. |
26,500 | 1,503,428 | ||||||
Advantest Corp. |
30,411 | 2,733,787 | ||||||
Ariake Japan Co., Ltd. |
7,900 | 498,463 | ||||||
Asahi Holdings, Inc. |
34,300 | 624,056 |
See Notes to Financial Statements.
18 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
Investments | Shares | Value | ||||||
Astellas Pharma, Inc. |
363,300 | $ | 5,999,375 | |||||
Bandai Namco Holdings, Inc. |
44,000 | 3,312,570 | ||||||
Benefit One, Inc. |
18,800 | 889,662 | ||||||
Bridgestone Corp. |
261,600 | 12,440,507 | ||||||
Chugai Pharmaceutical Co., Ltd. |
181,400 | 6,670,708 | ||||||
Create SD Holdings Co., Ltd. |
1,200 | 40,385 | ||||||
CyberAgent, Inc. |
17,500 | 339,727 | ||||||
Daifuku Co., Ltd. |
16,200 | 1,527,439 | ||||||
Daikin Industries Ltd. |
21,900 | 4,801,022 | ||||||
Daiwabo Holdings Co., Ltd. |
22,300 | 360,158 | ||||||
Digital Arts, Inc. |
2,800 | 227,363 | ||||||
Dip Corp. |
9,200 | 351,261 | ||||||
Disco Corp. |
6,991 | 1,964,310 | ||||||
DTS Corp. |
7,100 | 163,795 | ||||||
Eisai Co., Ltd. |
39,875 | 3,000,587 | ||||||
Elecom Co., Ltd. |
14,800 | 237,835 | ||||||
en Japan, Inc. |
19,550 | 712,263 | ||||||
Fancl Corp. |
11,000 | 365,270 | ||||||
Fast Retailing Co., Ltd. |
6,581 | 4,864,897 | ||||||
Funai Soken Holdings, Inc. |
1,800 | 49,043 | ||||||
GungHo Online Entertainment, Inc. |
13,889 | 255,436 | ||||||
Hikari Tsushin, Inc. |
8,500 | 1,439,077 | ||||||
Horiba Ltd. |
8,700 | 611,320 | ||||||
Hoya Corp. |
27,700 | 4,338,405 | ||||||
IR Japan Holdings Ltd. |
300 | 33,260 | ||||||
Japan Lifeline Co., Ltd. |
600 | 7,378 | ||||||
Kakaku.com, Inc. |
44,191 | 1,435,737 | ||||||
Kao Corp. |
78,900 | 4,706,068 | ||||||
Keyence Corp. |
8,900 | 5,344,387 | ||||||
Kobe Bussan Co., Ltd. |
17,000 | 556,890 | ||||||
Koito Manufacturing Co., Ltd. |
11,700 | 706,771 | ||||||
Kose Corp. |
7,800 | 935,371 | ||||||
Kotobuki Spirits Co., Ltd. |
200 | 13,749 | ||||||
Kusuri no Aoki Holdings Co., Ltd.(a) |
500 | 34,461 | ||||||
Kyudenko Corp. |
36,100 | 1,200,367 | ||||||
Mani, Inc.(a) |
2,600 | 49,728 | ||||||
McDonald’s Holdings Co., Japan Ltd.(a) |
4,100 | 193,287 | ||||||
Meitec Corp. |
12,600 | 699,028 | ||||||
Milbon Co., Ltd. |
3,200 | 196,460 | ||||||
MINEBEA MITSUMI, Inc. |
48,900 | 1,255,206 | ||||||
Murata Manufacturing Co., Ltd. |
100,220 | 8,946,370 | ||||||
Nexon Co., Ltd. |
18,000 | 291,517 | ||||||
NGK Spark Plug Co., Ltd. |
58,000 | 910,742 | ||||||
Nifco, Inc. |
10,100 | 315,469 | ||||||
Nihon M&A Center, Inc. |
20,800 | 614,259 | ||||||
Nihon Unisys Ltd. |
27,000 | 705,400 | ||||||
Nippon Shinyaku Co., Ltd. |
2,700 | 225,050 | ||||||
Nissan Chemical Corp. |
30,268 | 1,774,167 | ||||||
Nitori Holdings Co., Ltd. |
4,501 | 891,930 | ||||||
Nojima Corp. |
1,800 | 46,510 | ||||||
Nomura Research Institute Ltd. |
66,100 | 2,452,646 | ||||||
NSD Co., Ltd. |
13,900 | 254,392 | ||||||
Obic Co., Ltd. |
9,100 | 1,742,926 | ||||||
OKUMA Corp. |
1,700 | 82,886 | ||||||
Olympus Corp. |
47,100 | 1,036,981 | ||||||
Oracle Corp. |
19,300 | 1,698,642 | ||||||
Otsuka Corp. |
40,400 | 2,078,387 | ||||||
Outsourcing, Inc. |
47,700 | 865,718 | ||||||
Pan Pacific International Holdings Corp. |
31,300 | 650,266 | ||||||
Pigeon Corp. |
21,400 | 498,678 | ||||||
Prestige International, Inc. |
6,000 | 41,138 | ||||||
Recruit Holdings Co., Ltd. |
106,300 | 6,508,999 | ||||||
Ryohin Keikaku Co., Ltd.(a) |
18,400 | 412,279 | ||||||
Sakai Moving Service Co., Ltd. |
2,600 | 113,251 | ||||||
Sanwa Holdings Corp. |
52,400 | 683,795 | ||||||
SCSK Corp. |
79,200 | 1,679,473 | ||||||
Seria Co., Ltd. |
16,100 | 564,203 | ||||||
SG Holdings Co., Ltd. |
43,600 | 1,242,644 | ||||||
Shimadzu Corp. |
22,700 | 999,960 | ||||||
Shionogi & Co., Ltd. |
43,600 | 2,990,942 | ||||||
SMS Co., Ltd. |
3,600 | 131,804 | ||||||
SoftBank Corp. |
3,205,200 | 43,506,838 | ||||||
Sony Group Corp. |
72,500 | 8,093,099 | ||||||
Starts Corp., Inc. |
24,300 | 580,412 | ||||||
Sumitomo Forestry Co., Ltd. |
26,500 | 509,218 | ||||||
Sundrug Co., Ltd. |
17,500 | 534,842 | ||||||
Sysmex Corp. |
16,736 | 2,089,469 | ||||||
Systena Corp. |
4,800 | 97,312 | ||||||
T-Gaia Corp. |
41,400 | 737,278 | ||||||
TechnoPro Holdings, Inc. |
22,800 | 691,714 | ||||||
Terumo Corp. |
30,600 | 1,449,438 | ||||||
Toei Animation Co., Ltd.(a) |
10,200 | 1,886,874 | ||||||
Tokuyama Corp. |
30,000 | 577,549 | ||||||
Tokyo Electron Ltd. |
35,958 | 16,007,473 | ||||||
Trend Micro, Inc. |
52,100 | 2,904,432 | ||||||
Unicharm Corp. |
29,800 | 1,321,803 | ||||||
USS Co., Ltd. |
97,100 | 1,664,820 | ||||||
Wacom Co., Ltd. |
5,100 | 32,636 | ||||||
Workman Co., Ltd. |
2,600 | 164,750 | ||||||
Yamaha Corp. |
22,100 | 1,396,415 | ||||||
Yaskawa Electric Corp. |
22,900 | 1,108,313 | ||||||
ZOZO, Inc. |
40,900 | 1,537,759 | ||||||
|
|
|||||||
Total Japan |
|
206,034,165 | ||||||
Netherlands – 4.6% |
| |||||||
ASM International N.V. |
15,869 | 6,219,964 | ||||||
ASML Holding N.V. |
39,965 | 29,916,432 | ||||||
BE Semiconductor Industries N.V. |
29,131 | 2,318,056 | ||||||
Euronext N.V.(b) |
21,600 | 2,445,755 | ||||||
IMCD N.V. |
4,488 | 859,526 | ||||||
Wolters Kluwer N.V. |
57,718 | 6,125,995 | ||||||
|
|
|||||||
Total Netherlands |
|
47,885,728 | ||||||
Norway – 0.1% |
| |||||||
Borregaard ASA |
38,456 | 936,151 | ||||||
Fjordkraft Holding ASA(b) |
4,377 | 24,339 | ||||||
|
|
|||||||
Total Norway |
|
960,490 | ||||||
Portugal – 0.2% |
| |||||||
Jeronimo Martins, SGPS, S.A. |
127,113 | 2,535,336 |
See Notes to Financial Statements.
WisdomTree Trust | 19 |
Schedule of Investments (unaudited) (continued)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
Investments | Shares | Value | ||||||
Singapore – 0.4% |
| |||||||
Sheng Siong Group Ltd. |
652,900 | $ | 711,765 | |||||
Singapore Exchange Ltd. |
444,400 | 3,266,877 | ||||||
|
|
|||||||
Total Singapore |
|
3,978,642 | ||||||
Spain – 0.5% |
| |||||||
Faes Farma S.A. |
433,719 | 1,698,986 | ||||||
Grifols S.A. |
64,731 | 1,581,422 | ||||||
Prosegur Cash S.A.(b) |
931,324 | 751,233 | ||||||
Prosegur Cia de Seguridad S.A. |
281,074 | 837,179 | ||||||
|
|
|||||||
Total Spain |
|
4,868,820 | ||||||
Sweden – 3.3% |
| |||||||
AddTech AB, Class B |
32,262 | 575,281 | ||||||
Atlas Copco AB, Class A |
146,884 | 8,935,385 | ||||||
Atlas Copco AB, Class B |
110,955 | 5,688,179 | ||||||
Axfood AB |
90,610 | 2,171,893 | ||||||
Beijer Ref AB |
48,054 | 957,944 | ||||||
BioGaia AB, Class B |
790 | 39,868 | ||||||
Elekta AB, Class B(a) |
41,176 | 462,848 | ||||||
Epiroc AB, Class B |
76,613 | 1,364,813 | ||||||
EQT AB |
71,935 | 3,009,437 | ||||||
Essity AB, Class B |
172,726 | 5,370,201 | ||||||
Evolution AB(b) |
20,100 | 3,066,275 | ||||||
Lagercrantz Group AB, Class B |
16,155 | 193,707 | ||||||
Lifco AB, Class B |
40,882 | 1,102,829 | ||||||
Lindab International AB |
702 | 17,894 | ||||||
Mycronic AB |
32,675 | 815,703 | ||||||
Sweco AB, Class B |
75,028 | 1,185,210 | ||||||
|
|
|||||||
Total Sweden |
|
34,957,467 | ||||||
Switzerland – 11.1% |
| |||||||
ALSO Holding AG, Registered Shares* |
1,578 | 456,729 | ||||||
Bucher Industries AG, Registered Shares |
2,499 | 1,194,784 | ||||||
Geberit AG, Registered Shares |
8,885 | 6,562,432 | ||||||
Givaudan S.A., Registered Shares |
1,951 | 8,913,718 | ||||||
Kardex Holding AG, Registered Shares |
2,539 | 719,907 | ||||||
Kuehne + Nagel International AG, Registered Shares |
34,246 | 11,725,543 | ||||||
Logitech International S.A., Registered Shares |
30,185 | 2,694,113 | ||||||
Partners Group Holding AG |
9,735 | 15,304,044 | ||||||
Roche Holding AG |
108,537 | 39,785,847 | ||||||
Roche Holding AG, Bearer Shares |
44,228 | 18,225,056 | ||||||
Schindler Holding AG, Participation Certificate |
7,241 | 1,949,873 | ||||||
SFS Group AG |
12,436 | 1,695,727 | ||||||
Sika AG, Registered Shares(a) |
15,072 | 4,795,379 | ||||||
STMicroelectronics N.V. |
50,549 | 2,212,416 | ||||||
Temenos AG, Registered Shares |
7,556 | 1,029,499 | ||||||
|
|
|||||||
Total Switzerland |
|
117,265,067 | ||||||
United Kingdom – 24.0% |
| |||||||
AJ Bell PLC |
82,487 | 443,773 | ||||||
Ashmore Group PLC |
478,551 | 2,197,737 | ||||||
Ashtead Group PLC |
82,781 | 6,301,940 | ||||||
Avon Protection PLC |
3,553 | 93,035 | ||||||
Berkeley Group Holdings PLC |
77,971 | 4,585,868 | ||||||
Bodycote PLC |
103,447 | 1,223,962 | ||||||
Bunzl PLC |
87,448 | 2,894,704 | ||||||
CMC Markets PLC(b) |
133,520 | 511,290 | ||||||
Cranswick PLC |
10,791 | 519,728 | ||||||
Croda International PLC |
25,051 | 2,885,952 | ||||||
FDM Group Holdings PLC(a) |
21,542 | 367,143 | ||||||
Ferrexpo PLC |
858,253 | 3,786,443 | ||||||
Fevertree Drinks PLC |
8,000 | 251,225 | ||||||
Fresnillo PLC |
105,530 | 1,111,865 | ||||||
Games Workshop Group PLC |
7,158 | 991,208 | ||||||
Gamma Communications PLC |
5,728 | 141,337 | ||||||
GlaxoSmithKline PLC |
2,046,823 | 38,737,037 | ||||||
Halma PLC |
35,367 | 1,355,268 | ||||||
Hargreaves Lansdown PLC |
227,659 | 4,394,191 | ||||||
Hilton Food Group PLC |
35,081 | 553,427 | ||||||
HomeServe PLC |
89,503 | 1,091,563 | ||||||
IMI PLC |
112,739 | 2,523,394 | ||||||
Intertek Group PLC |
35,469 | 2,380,232 | ||||||
Linde PLC |
112,251 | 33,316,893 | ||||||
Moneysupermarket.com Group PLC |
324,203 | 931,107 | ||||||
RELX PLC |
691,768 | 20,026,049 | ||||||
Rio Tinto PLC |
865,361 | 57,331,200 | ||||||
Rotork PLC |
182,635 | 858,941 | ||||||
RWS Holdings PLC |
43,918 | 370,994 | ||||||
Smith & Nephew PLC |
163,978 | 2,845,554 | ||||||
Spirax-Sarco Engineering PLC |
7,823 | 1,579,057 | ||||||
Spirent Communications PLC |
123,532 | 465,714 | ||||||
Unilever PLC |
1,030,579 | 55,652,742 | ||||||
|
|
|||||||
Total United Kingdom |
|
252,720,573 | ||||||
TOTAL COMMON STOCKS (Cost: $836,708,884) |
|
1,042,761,712 | ||||||
EXCHANGE-TRADED FUND – 0.1% |
| |||||||
United States – 0.1% |
| |||||||
WisdomTree International Quality Dividend Growth Fund(c) |
||||||||
(Cost: $882,631) | 30,722 | 1,169,894 | ||||||
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.5% |
| |||||||
United States – 0.5% |
| |||||||
State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(d) |
||||||||
(Cost: $5,433,597) | 5,433,597 | 5,433,597 | ||||||
TOTAL INVESTMENTS IN SECURITIES – 99.7% (Cost: $843,025,112) |
|
1,049,365,203 | ||||||
Other Assets less Liabilities – 0.3% |
|
3,606,448 | ||||||
|
|
|||||||
NET ASSETS – 100.0% |
|
$ | 1,052,971,651 |
* |
Non-income producing security. |
(a) |
Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $52,958,251 and the total market value of the collateral held by the Fund was $55,680,132. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $50,246,535. |
See Notes to Financial Statements.
20 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
(b) |
This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers. |
(c) |
Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information. |
(d) |
Rate shown represents annualized 7-day yield as of September 30, 2021. |
INVESTMENT IN AFFILIATES |
Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the six-month fiscal period ended September 30, 2021 were as follows:
Affiliate | Value at 3/31/2021 |
Purchases/ Additions |
Sales/ Reductions |
Realized Gain/ (Loss) |
Change
in Unrealized Appreciation/ Depreciation |
Value at 9/30/2021 |
Dividend Income |
|||||||||||||||||||||
WisdomTree International Quality Dividend Growth Fund |
$ | 1,615,390 | $ | — | $ | 481,935 | $ | 110,708 | $ | (74,269 | ) | $ | 1,169,894 | $ | 19,816 |
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 29,340,552 | CHF | 31,454,044 | USD | $ | — | $ | (687 | ) | ||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 97,462,870 | DKK | 15,191,061 | USD | — | (454 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 59,528,406 | EUR | 68,992,768 | USD | — | (1,102 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 43,335,501 | GBP | 58,432,723 | USD | — | (1,241 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 1,298,839 | ILS | 402,595 | USD | 4 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 5,539,088,319 | JPY | 49,644,262 | USD | 573 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 1,943,515 | NOK | 222,647 | USD | — | (5 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 84,625,516 | SEK | 9,673,357 | USD | — | (199 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 1,356,784 | SGD | 999,436 | USD | — | (39 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 30,638,102 | USD | 28,043,453 | CHF | 575,248 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 14,796,994 | USD | 93,170,812 | DKK | 275,349 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 67,203,044 | USD | 56,894,259 | EUR | 1,264,276 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 56,916,934 | USD | 41,352,481 | GBP | 1,159,261 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 1,568,607 | USD | 5,024,716 | ILS | 11,104 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 48,356,452 | USD | 5,311,042,315 | JPY | 755,511 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 867,483 | USD | 7,551,682 | NOK | 2,388 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 9,422,423 | USD | 81,379,385 | SEK | 120,316 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 3,894,040 | USD | 5,238,146 | SGD | 35,661 | — | |||||||||||||||||||||
Bank of America N.A. |
10/6/2021 | 40,133,194 | AUD | 28,991,015 | USD | — | (678 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/6/2021 | 82,620,816 | HKD | 10,613,555 | USD | — | (219 | ) | ||||||||||||||||||||
Bank of America N.A. |
10/6/2021 | 28,238,967 | USD | 38,630,598 | AUD | 334,035 | — | |||||||||||||||||||||
Bank of America N.A. |
10/6/2021 | 10,338,231 | USD | 80,399,037 | HKD | 10,301 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 24,740,114 | USD | 34,245,216 | AUD | 3 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 29,070,358 | USD | 27,098,428 | CHF | 233 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 14,388,144 | USD | 92,273,815 | DKK | — | (1,061 | ) | ||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 66,195,420 | USD | 57,084,062 | EUR | 475 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 55,210,097 | USD | 40,944,288 | GBP | 605 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 10,523,365 | USD | 81,912,947 | HKD | 61 | — | |||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 415,094 | USD | 1,338,960 | ILS | — | (16 | ) | ||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 205,727 | USD | 1,796,256 | NOK | — | (2 | ) | ||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 8,722,467 | USD | 76,292,968 | SEK | — | (3 | ) | ||||||||||||||||||||
Bank of America N.A. |
11/3/2021 | 985,185 | USD | 1,337,586 | SGD | — | (14 | ) | ||||||||||||||||||||
Bank of America N.A. |
11/4/2021 | 52,057,181 | USD | 5,807,176,357 | JPY | — | (1,073 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 372,028 | CHF | 402,331 | USD | — | (3,514 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 29,340,676 | CHF | 31,454,042 | USD | — | (552 | ) |
See Notes to Financial Statements.
WisdomTree Trust | 21 |
Schedule of Investments (unaudited) (continued)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,233,370 | DKK | 194,310 | USD | $ | — | $ | (2,076 | ) | ||||||||||||||||||
Citibank N.A. |
10/5/2021 | 97,462,748 | DKK | 15,191,061 | USD | — | (473 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 753,293 | EUR | 882,492 | USD | — | (9,447 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 59,528,664 | EUR | 68,992,769 | USD | — | (804 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 546,517 | GBP | 747,418 | USD | — | (10,521 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 43,336,883 | GBP | 58,432,723 | USD | 622 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 16,469 | ILS | 5,150 | USD | — | (45 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,298,829 | ILS | 402,595 | USD | 1 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 70,292,656 | JPY | 635,004 | USD | — | (4,997 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 5,539,063,273 | JPY | 49,644,260 | USD | 350 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 24,501 | NOK | 2,848 | USD | — | (41 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,943,513 | NOK | 222,645 | USD | — | (3 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,071,543 | SEK | 123,733 | USD | — | (1,250 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 84,626,329 | SEK | 9,673,357 | USD | — | (106 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 17,310 | SGD | 12,784 | USD | — | (34 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,356,822 | SGD | 999,437 | USD | — | (12 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 30,638,102 | USD | 28,043,331 | CHF | 575,379 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 523,728 | USD | 478,525 | CHF | 10,745 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 785,592 | USD | 721,220 | CHF | 12,437 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 523,728 | USD | 480,813 | CHF | 8,292 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 785,592 | USD | 721,754 | CHF | 11,865 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 14,796,994 | USD | 93,170,501 | DKK | 275,398 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 252,940 | USD | 1,584,169 | DKK | 6,031 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 252,940 | USD | 1,591,034 | DKK | 4,961 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 379,410 | USD | 2,386,551 | DKK | 7,441 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 379,410 | USD | 2,386,463 | DKK | 7,455 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 67,203,044 | USD | 56,893,970 | EUR | 1,264,611 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,148,770 | USD | 967,477 | EUR | 27,493 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,723,155 | USD | 1,457,524 | EUR | 33,928 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,148,770 | USD | 971,683 | EUR | 22,618 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,723,155 | USD | 1,457,438 | EUR | 34,028 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 56,916,934 | USD | 41,352,060 | GBP | 1,159,828 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 486,470 | USD | 352,841 | GBP | 10,717 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 972,939 | USD | 703,254 | GBP | 24,705 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 972,939 | USD | 702,683 | GBP | 25,476 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,459,409 | USD | 1,054,025 | GBP | 38,213 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,459,409 | USD | 1,055,290 | GBP | 36,507 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 6,703 | USD | 21,505 | ILS | 37 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 10,055 | USD | 32,223 | ILS | 67 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 6,703 | USD | 21,481 | ILS | 45 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 10,055 | USD | 32,239 | ILS | 62 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 48,356,452 | USD | 5,311,018,137 | JPY | 755,727 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 826,606 | USD | 90,882,767 | JPY | 12,057 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,239,909 | USD | 136,152,051 | JPY | 19,628 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 826,606 | USD | 90,768,034 | JPY | 13,085 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,239,909 | USD | 135,497,379 | JPY | 25,495 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 3,707 | USD | 32,039 | NOK | 37 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 5,561 | USD | 48,165 | NOK | 43 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 3,707 | USD | 32,107 | NOK | 29 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 5,561 | USD | 47,737 | NOK | 92 | — |
See Notes to Financial Statements.
22 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 9,422,423 | USD | 81,379,215 | SEK | $ | 120,335 | $ | — | |||||||||||||||||||
Citibank N.A. |
10/5/2021 | 161,067 | USD | 1,380,812 | SEK | 3,233 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 241,601 | USD | 2,080,488 | SEK | 3,790 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 161,067 | USD | 1,386,989 | SEK | 2,527 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 241,601 | USD | 2,071,311 | SEK | 4,839 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 16,641 | USD | 22,343 | SGD | 183 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 24,962 | USD | 33,519 | SGD | 272 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 16,641 | USD | 22,346 | SGD | 181 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 24,962 | USD | 33,476 | SGD | 304 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 511,699 | AUD | 370,827 | USD | — | (1,199 | ) | ||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 40,133,360 | AUD | 28,991,015 | USD | — | (558 | ) | ||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 1,056,846 | HKD | 135,759 | USD | 2 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 82,621,665 | HKD | 10,613,555 | USD | — | (110 | ) | ||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 28,238,967 | USD | 38,631,285 | AUD | 333,539 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 482,717 | USD | 651,552 | AUD | 12,067 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 482,717 | USD | 654,059 | AUD | 10,256 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 724,076 | USD | 981,089 | AUD | 15,383 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 724,076 | USD | 988,206 | AUD | 10,243 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 10,338,231 | USD | 80,397,342 | HKD | 10,519 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 176,722 | USD | 1,373,230 | HKD | 319 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 265,083 | USD | 2,061,759 | HKD | 233 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 176,722 | USD | 1,374,506 | HKD | 155 | — | |||||||||||||||||||||
Citibank N.A. |
10/6/2021 | 265,083 | USD | 2,062,611 | HKD | 123 | — | |||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 24,740,112 | USD | 34,245,356 | AUD | — | (100 | ) | ||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 29,070,359 | USD | 27,098,546 | CHF | 108 | — | |||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 14,388,144 | USD | 92,267,657 | DKK | — | (101 | ) | ||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 66,195,418 | USD | 57,084,405 | EUR | 76 | — | |||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 55,210,096 | USD | 40,944,834 | GBP | — | (132 | ) | ||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 10,523,363 | USD | 81,913,931 | HKD | — | (67 | ) | ||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 415,095 | USD | 1,338,964 | ILS | — | (17 | ) | ||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 205,725 | USD | 1,796,219 | NOK | 0 | ^ | — | ||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 8,722,465 | USD | 76,293,334 | SEK | — | (47 | ) | ||||||||||||||||||||
Citibank N.A. |
11/3/2021 | 985,183 | USD | 1,337,552 | SGD | 8 | — | |||||||||||||||||||||
Citibank N.A. |
11/4/2021 | 52,057,179 | USD | 5,807,165,723 | JPY | — | (980 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 29,340,836 | CHF | 31,454,044 | USD | — | (384 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 97,464,571 | DKK | 15,191,061 | USD | — | (189 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 59,528,817 | EUR | 68,992,768 | USD | — | (626 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 43,336,047 | GBP | 58,432,723 | USD | — | (504 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 1,298,839 | ILS | 402,595 | USD | 4 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 5,539,078,390 | JPY | 49,644,262 | USD | 484 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 1,943,529 | NOK | 222,647 | USD | — | (3 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 84,626,280 | SEK | 9,673,357 | USD | — | (112 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 1,356,821 | SGD | 999,436 | USD | — | (12 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 30,638,102 | USD | 28,043,331 | CHF | 575,379 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 261,864 | USD | 239,249 | CHF | 5,386 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 14,796,994 | USD | 93,169,450 | DKK | 275,562 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 126,470 | USD | 792,976 | DKK | 2,876 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 67,203,044 | USD | 56,893,441 | EUR | 1,265,225 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 574,385 | USD | 484,254 | EUR | 13,149 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 56,916,934 | USD | 41,352,691 | GBP | 1,158,977 | — |
See Notes to Financial Statements.
WisdomTree Trust | 23 |
Schedule of Investments (unaudited) (continued)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 3,352 | USD | 10,745 | ILS | $ | 21 | $ | — | |||||||||||||||||||
Goldman Sachs |
10/5/2021 | 48,356,452 | USD | 5,310,984,287 | JPY | 756,031 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 413,303 | USD | 45,453,576 | JPY | 5,919 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 1,854 | USD | 16,102 | NOK | 9 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 9,422,423 | USD | 81,379,828 | SEK | 120,265 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 80,534 | USD | 692,375 | SEK | 1,392 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 8,321 | USD | 11,184 | SGD | 83 | — | |||||||||||||||||||||
Goldman Sachs |
10/6/2021 | 40,133,638 | AUD | 28,991,015 | USD | — | (357 | ) | ||||||||||||||||||||
Goldman Sachs |
10/6/2021 | 82,621,569 | HKD | 10,613,555 | USD | — | (122 | ) | ||||||||||||||||||||
Goldman Sachs |
10/6/2021 | 28,238,967 | USD | 38,630,492 | AUD | 334,111 | — | |||||||||||||||||||||
Goldman Sachs |
10/6/2021 | 241,359 | USD | 327,363 | AUD | 4,887 | — | |||||||||||||||||||||
Goldman Sachs |
10/6/2021 | 10,338,231 | USD | 80,398,014 | HKD | 10,432 | — | |||||||||||||||||||||
Goldman Sachs |
10/6/2021 | 88,361 | USD | 687,032 | HKD | 106 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 24,740,114 | USD | 34,244,884 | AUD | 243 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 29,070,358 | USD | 27,098,545 | CHF | 108 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 14,388,144 | USD | 92,277,441 | DKK | — | (1,626 | ) | ||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 66,195,420 | USD | 57,082,979 | EUR | 1,731 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 55,210,097 | USD | 40,944,167 | GBP | 769 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 10,523,365 | USD | 81,913,168 | HKD | 33 | — | |||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 415,094 | USD | 1,338,940 | ILS | — | (10 | ) | ||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 205,727 | USD | 1,796,257 | NOK | — | (2 | ) | ||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 8,722,467 | USD | 76,293,352 | SEK | — | (47 | ) | ||||||||||||||||||||
Goldman Sachs |
11/3/2021 | 985,185 | USD | 1,337,583 | SGD | — | (12 | ) | ||||||||||||||||||||
Goldman Sachs |
11/4/2021 | 52,057,181 | USD | 5,807,155,534 | JPY | — | (887 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 29,341,024 | CHF | 31,454,044 | USD | — | (181 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 97,464,662 | DKK | 15,191,061 | USD | — | (175 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 59,528,766 | EUR | 68,992,768 | USD | — | (685 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 43,336,112 | GBP | 58,432,723 | USD | — | (418 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 1,298,832 | ILS | 402,595 | USD | 2 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 5,539,073,425 | JPY | 49,644,262 | USD | 439 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 1,943,541 | NOK | 222,647 | USD | — | (2 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 84,626,793 | SEK | 9,673,357 | USD | — | (53 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 1,356,823 | SGD | 999,436 | USD | — | (10 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 30,638,103 | USD | 28,043,025 | CHF | 575,708 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 14,796,992 | USD | 93,169,808 | DKK | 275,504 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 67,203,043 | USD | 56,893,825 | EUR | 1,264,779 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 56,916,933 | USD | 41,352,149 | GBP | 1,159,706 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 48,356,452 | USD | 5,311,013,301 | JPY | 755,771 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 9,422,421 | USD | 81,377,992 | SEK | 120,473 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/6/2021 | 40,133,916 | AUD | 28,991,015 | USD | — | (157 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/6/2021 | 82,622,047 | HKD | 10,613,555 | USD | — | (61 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/6/2021 | 28,238,965 | USD | 38,630,701 | AUD | 333,959 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/6/2021 | 10,338,232 | USD | 80,398,042 | HKD | 10,430 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 24,740,114 | USD | 34,245,501 | AUD | — | (202 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 29,070,358 | USD | 27,098,835 | CHF | — | (203 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 14,388,144 | USD | 92,270,319 | DKK | — | (516 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 66,195,420 | USD | 57,084,603 | EUR | — | (153 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 55,210,097 | USD | 40,944,227 | GBP | 687 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 10,523,365 | USD | 81,913,400 | HKD | 3 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 415,094 | USD | 1,338,933 | ILS | — | (8 | ) |
See Notes to Financial Statements.
24 | WisdomTree Trust |
Schedule of Investments (unaudited) (concluded)
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)
September 30, 2021
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 205,727 | USD | 1,796,289 | NOK | $ | — | $ | (6 | ) | ||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 8,722,467 | USD | 76,293,997 | SEK | — | (120 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/3/2021 | 985,185 | USD | 1,337,551 | SGD | 11 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/4/2021 | 52,057,181 | USD | 5,807,176,357 | JPY | — | (1,073 | ) | ||||||||||||||||||||
UBS AG |
10/5/2021 | 785,592 | USD | 719,056 | CHF | 14,757 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 379,410 | USD | 2,389,025 | DKK | 7,055 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 1,723,155 | USD | 1,458,825 | EUR | 32,420 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 1,459,409 | USD | 1,060,353 | GBP | 29,680 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 10,055 | USD | 32,210 | ILS | 71 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 1,239,909 | USD | 136,179,701 | JPY | 19,380 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 5,561 | USD | 48,411 | NOK | 15 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 241,601 | USD | 2,086,682 | SEK | 3,082 | — | |||||||||||||||||||||
UBS AG |
10/5/2021 | 24,962 | USD | 33,580 | SGD | 227 | — | |||||||||||||||||||||
UBS AG |
10/6/2021 | 724,076 | USD | 990,554 | AUD | 8,546 | — | |||||||||||||||||||||
UBS AG |
10/6/2021 | 265,083 | USD | 2,061,455 | HKD | 272 | — | |||||||||||||||||||||
$ | 18,645,763 | $ | (52,895 | ) |
^ |
Amount represents less than $1. |
FAIR VALUATION SUMMARY |
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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 |
$ | 1,042,761,712 | $ | — | $ | — | $ | 1,042,761,712 | ||||||||
Exchange-Traded Fund |
1,169,894 | — | — | 1,169,894 | ||||||||||||
Investment of Cash Collateral for Securities Loaned |
— | 5,433,597 | — | 5,433,597 | ||||||||||||
Total Investments in Securities |
$ | 1,043,931,606 | $ | 5,433,597 | $ | — | $ | 1,049,365,203 | ||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | 18,645,763 | $ | — | $ | 18,645,763 | ||||||||
Liabilities: |
|
|||||||||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | (52,895) | $ | — | $ | (52,895 | ) | |||||||
Total – Net |
$ | 1,043,931,606 | $ | 24,026,465 | $ | — | $ | 1,067,958,071 |
1 |
Amount shown represents the unrealized appreciation (depreciation) on the financial instrument. |
See Notes to Financial Statements.
WisdomTree Trust | 25 |
Schedule of Investments (unaudited)
WisdomTree Japan Hedged Equity Fund (DXJ)
September 30, 2021
Investments | Shares | Value | ||||||
COMMON STOCKS – 99.0% |
| |||||||
Japan – 99.0% |
| |||||||
Air Freight & Logistics – 0.0% |
| |||||||
Kintetsu World Express, Inc. |
23,200 | $ | 591,982 | |||||
Mitsui-Soko Holdings Co., Ltd. |
14,700 | 333,327 | ||||||
|
|
|||||||
Total Air Freight & Logistics | 925,309 | |||||||
Auto Components – 4.8% |
| |||||||
Aisin Corp. |
149,508 | 5,453,709 | ||||||
Bridgestone Corp. |
506,785 | 24,100,392 | ||||||
Daikyonishikawa Corp. |
84,100 | 492,201 | ||||||
Denso Corp. |
420,879 | 27,706,532 | ||||||
Eagle Industry Co., Ltd. |
63,700 | 709,078 | ||||||
Exedy Corp. |
43,600 | 669,387 | ||||||
FCC Co., Ltd. |
26,500 | 374,788 | ||||||
G-Tekt Corp. |
25,600 | 335,215 | ||||||
JTEKT Corp. |
310,878 | 2,724,971 | ||||||
Koito Manufacturing Co., Ltd. |
28,001 | 1,691,479 | ||||||
Musashi Seimitsu Industry Co., Ltd. |
27,000 | 474,058 | ||||||
NGK Spark Plug Co., Ltd. |
120,664 | 1,894,720 | ||||||
NHK Spring Co., Ltd. |
89,200 | 640,369 | ||||||
Nifco, Inc. |
45,390 | 1,417,738 | ||||||
NOK Corp. |
63,300 | 747,175 | ||||||
Pacific Industrial Co., Ltd. |
44,600 | 472,482 | ||||||
Shoei Co., Ltd. |
14,000 | 632,400 | ||||||
Stanley Electric Co., Ltd. |
38,907 | 984,749 | ||||||
Sumitomo Electric Industries Ltd. |
402,383 | 5,395,160 | ||||||
Sumitomo Riko Co., Ltd. |
57,400 | 394,585 | ||||||
Sumitomo Rubber Industries Ltd. |
151,291 | 1,930,884 | ||||||
Tokai Rika Co., Ltd. |
63,014 | 907,582 | ||||||
Topre Corp. |
42,700 | 508,611 | ||||||
Toyo Tire Corp. |
81,800 | 1,469,944 | ||||||
Toyoda Gosei Co., Ltd. |
46,400 | 934,446 | ||||||
Toyota Boshoku Corp. |
90,736 | 1,619,138 | ||||||
TPR Co., Ltd. |
37,394 | 504,061 | ||||||
TS Tech Co., Ltd. |
75,864 | 982,509 | ||||||
Yokohama Rubber Co., Ltd. (The) |
135,800 | 2,452,494 | ||||||
|
|
|||||||
Total Auto Components | 88,620,857 | |||||||
Automobiles – 8.8% |
| |||||||
Honda Motor Co., Ltd. |
1,059,847 | 32,818,924 | ||||||
Isuzu Motors Ltd. |
510,700 | 6,742,201 | ||||||
Subaru Corp. |
393,767 | 7,335,377 | ||||||
Suzuki Motor Corp. |
178,636 | 7,997,193 | ||||||
Toyota Motor Corp. |
5,679,350 | 101,803,271 | ||||||
Yamaha Motor Co., Ltd. |
199,400 | 5,575,873 | ||||||
|
|
|||||||
Total Automobiles | 162,272,839 | |||||||
Banks – 10.9% |
| |||||||
Mitsubishi UFJ Financial Group, Inc. |
15,040,122 | 88,683,811 | ||||||
Mizuho Financial Group, Inc. |
2,761,864 | 39,221,811 | ||||||
Sumitomo Mitsui Financial Group, Inc. |
1,720,800 | 60,827,562 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. |
376,900 | 13,028,934 | ||||||
|
|
|||||||
Total Banks | 201,762,118 | |||||||
Beverages – 1.6% |
| |||||||
Asahi Group Holdings Ltd. |
264,200 | 12,836,462 | ||||||
Kirin Holdings Co., Ltd. |
558,345 | 10,383,741 | ||||||
Suntory Beverage & Food Ltd. |
121,100 | 5,036,110 | ||||||
Takara Holdings, Inc. |
58,000 | 841,604 | ||||||
|
|
|||||||
Total Beverages | 29,097,917 | |||||||
Building Products – 1.9% |
| |||||||
AGC, Inc. |
157,247 | 8,145,979 | ||||||
Aica Kogyo Co., Ltd. |
53,900 | 1,852,624 | ||||||
Central Glass Co., Ltd. |
23,200 | 434,994 | ||||||
Daikin Industries Ltd. |
64,449 | 14,128,815 | ||||||
Lixil Corp. |
180,700 | 5,271,598 | ||||||
Nitto Boseki Co., Ltd. |
7,100 | 238,629 | ||||||
Noritz Corp. |
15,400 | 252,583 | ||||||
Okabe Co., Ltd. |
16,000 | 100,811 | ||||||
Sanwa Holdings Corp. |
181,031 | 2,362,367 | ||||||
TOTO Ltd. |
60,600 | 2,894,896 | ||||||
|
|
|||||||
Total Building Products | 35,683,296 | |||||||
Capital Markets – 1.0% |
| |||||||
Monex Group, Inc. |
119,200 | 624,979 | ||||||
Nomura Holdings, Inc. |
2,720,045 | 13,496,006 | ||||||
SBI Holdings, Inc.(a) |
180,500 | 4,466,596 | ||||||
Sparx Group Co., Ltd.(a) |
176,800 | 488,052 | ||||||
|
|
|||||||
Total Capital Markets | 19,075,633 | |||||||
Chemicals – 6.9% |
| |||||||
ADEKA Corp. |
96,700 | 2,191,838 | ||||||
Arakawa Chemical Industries Ltd. |
25,600 | 283,131 | ||||||
Asahi Kasei Corp. |
896,222 | 9,610,841 | ||||||
Chugoku Marine Paints Ltd. |
70,000 | 526,372 | ||||||
Daicel Corp. |
275,242 | 2,153,585 | ||||||
Dainichiseika Color & Chemicals Manufacturing Co., Ltd. |
17,100 | 421,772 | ||||||
Denka Co., Ltd. |
60,015 | 2,113,905 | ||||||
DIC Corp. |
59,453 | 1,686,478 | ||||||
Fujimi, Inc. |
22,000 | 1,275,734 | ||||||
Fujimori Kogyo Co., Ltd. |
12,900 | 562,478 | ||||||
Fuso Chemical Co., Ltd. |
11,000 | 499,843 | ||||||
JCU Corp. |
12,500 | 499,104 | ||||||
JSP Corp. |
25,400 | 369,248 | ||||||
JSR Corp. |
101,900 | 3,703,379 | ||||||
Kaneka Corp. |
42,400 | 1,784,163 | ||||||
Kansai Paint Co., Ltd. |
76,100 | 1,896,106 | ||||||
KH Neochem Co., Ltd. |
15,900 | 438,915 | ||||||
Kumiai Chemical Industry Co., Ltd. |
25,600 | 201,680 | ||||||
Kuraray Co., Ltd. |
278,837 | 2,694,029 | ||||||
Kureha Corp. |
16,700 | 1,139,028 | ||||||
Lintec Corp. |
67,947 | 1,557,163 | ||||||
Mitsubishi Chemical Holdings Corp. |
1,097,663 | 10,069,084 | ||||||
Mitsubishi Gas Chemical Co., Inc.(a) |
144,082 | 2,860,333 | ||||||
Mitsui Chemicals, Inc. |
133,515 | 4,505,346 | ||||||
Moriroku Holdings Co., Ltd. |
26,000 | 486,095 | ||||||
Nihon Parkerizing Co., Ltd. |
49,400 | 512,706 | ||||||
Nippon Kayaku Co., Ltd. |
104,400 | 1,158,388 |
See Notes to Financial Statements.
26 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged Equity Fund (DXJ)
September 30, 2021
Investments | Shares | Value | ||||||
Nippon Paint Holdings Co., Ltd. |
139,500 | $ | 1,521,591 | |||||
Nippon Sanso Holdings Corp. |
137,553 | 3,470,416 | ||||||
Nippon Shokubai Co., Ltd. |
21,200 | 1,098,239 | ||||||
Nippon Soda Co., Ltd. |
24,400 | 792,740 | ||||||
Nissan Chemical Corp. |
66,753 | 3,912,746 | ||||||
Nitto Denko Corp. |
114,674 | 8,201,645 | ||||||
NOF Corp. |
46,000 | 2,605,602 | ||||||
Okamoto Industries, Inc. |
14,100 | 521,918 | ||||||
Osaka Soda Co., Ltd. |
25,600 | 622,017 | ||||||
Riken Technos Corp. |
45,500 | 231,221 | ||||||
Sakata INX Corp. |
37,000 | 389,980 | ||||||
Sanyo Chemical Industries Ltd. |
21,700 | 1,139,700 | ||||||
Shikoku Chemicals Corp. |
25,600 | 321,219 | ||||||
Shin-Etsu Chemical Co., Ltd. |
116,479 | 19,730,702 | ||||||
Shin-Etsu Polymer Co., Ltd. |
46,900 | 442,203 | ||||||
Sumitomo Bakelite Co., Ltd. |
16,600 | 772,162 | ||||||
Sumitomo Chemical Co., Ltd. |
1,048,085 | 5,495,225 | ||||||
Sumitomo Seika Chemicals Co., Ltd. |
12,800 | 416,437 | ||||||
T Hasegawa Co., Ltd. |
23,400 | 559,964 | ||||||
Taiyo Holdings Co., Ltd. |
40,052 | 1,022,704 | ||||||
Takasago International Corp. |
18,800 | 504,647 | ||||||
Tayca Corp. |
21,000 | 253,525 | ||||||
Teijin Ltd. |
128,900 | 1,841,511 | ||||||
Tokai Carbon Co., Ltd.(a) |
121,300 | 1,566,599 | ||||||
Tokuyama Corp. |
36,300 | 698,834 | ||||||
Tokyo Ohka Kogyo Co., Ltd. |
18,600 | 1,148,591 | ||||||
Toray Industries, Inc. |
778,118 | 4,994,740 | ||||||
Tosoh Corp. |
199,807 | 3,642,460 | ||||||
Toyo Ink SC Holdings Co., Ltd. |
54,700 | 1,032,473 | ||||||
Toyobo Co., Ltd. |
40,451 | 508,289 | ||||||
Ube Industries Ltd. |
99,500 | 1,960,125 | ||||||
Valqua Ltd. |
15,700 | 302,954 | ||||||
Zeon Corp. |
64,100 | 907,712 | ||||||
|
|
|||||||
Total Chemicals | 127,831,635 | |||||||
Commercial Services & Supplies – 0.1% |
| |||||||
Mitsubishi Pencil Co., Ltd. |
25,600 | 330,856 | ||||||
Pilot Corp. |
22,000 | 839,973 | ||||||
Sato Holdings Corp. |
26,000 | 635,698 | ||||||
|
|
|||||||
Total Commercial Services & Supplies | 1,806,527 | |||||||
Construction & Engineering – 0.7% |
| |||||||
JGC Holdings Corp. |
64,300 | 604,532 | ||||||
Kajima Corp. |
426,300 | 5,509,519 | ||||||
Obayashi Corp. |
483,600 | 4,026,569 | ||||||
Penta-Ocean Construction Co., Ltd. |
283,100 | 1,935,965 | ||||||
Taikisha Ltd. |
36,600 | 1,103,823 | ||||||
|
|
|||||||
Total Construction & Engineering | 13,180,408 | |||||||
Construction Materials – 0.1% |
| |||||||
Krosaki Harima Corp. |
11,800 | 515,573 | ||||||
Taiheiyo Cement Corp. |
55,600 | 1,159,091 | ||||||
|
|
|||||||
Total Construction Materials | 1,674,664 | |||||||
Consumer Finance – 0.2% |
| |||||||
Acom Co., Ltd.(a) |
355,400 | 1,305,973 | ||||||
AEON Financial Service Co., Ltd. |
197,100 | 2,527,897 | ||||||
|
|
|||||||
Total Consumer Finance | 3,833,870 | |||||||
Containers & Packaging – 0.0% |
| |||||||
Fuji Seal International, Inc. |
14,882 | 323,583 | ||||||
Toyo Seikan Group Holdings Ltd.(a) |
49,300 | 582,807 | ||||||
|
|
|||||||
Total Containers & Packaging | 906,390 | |||||||
Diversified Financial Services – 0.4% |
| |||||||
Mitsubishi HC Capital, Inc. |
1,388,990 | 7,319,974 | ||||||
Electrical Equipment – 1.7% |
| |||||||
Daihen Corp. |
15,800 | 698,839 | ||||||
Denyo Co., Ltd. |
23,000 | 443,200 | ||||||
Fuji Electric Co., Ltd. |
66,873 | 3,062,702 | ||||||
Furukawa Electric Co., Ltd. |
40,281 | 887,752 | ||||||
GS Yuasa Corp. |
48,984 | 1,115,997 | ||||||
Idec Corp. |
14,300 | 283,757 | ||||||
Mabuchi Motor Co., Ltd. |
39,800 | 1,384,038 | ||||||
Mitsubishi Electric Corp.(a) |
1,022,014 | 14,261,939 | ||||||
Nidec Corp. |
59,516 | 6,625,039 | ||||||
Nippon Carbon Co., Ltd. |
11,400 | 428,107 | ||||||
Nissin Electric Co., Ltd. |
53,700 | 659,368 | ||||||
Sanyo Denki Co., Ltd. |
5,700 | 363,737 | ||||||
Sinfonia Technology Co., Ltd. |
26,000 | 283,594 | ||||||
Toyo Tanso Co., Ltd. |
8,000 | 212,019 | ||||||
|
|
|||||||
Total Electrical Equipment | 30,710,088 | |||||||
Electronic Equipment, Instruments & Components – 3.9% |
| |||||||
Ai Holdings Corp. |
26,000 | 552,973 | ||||||
Alps Alpine Co., Ltd. |
55,400 | 604,770 | ||||||
Amano Corp. |
40,233 | 1,037,061 | ||||||
Anritsu Corp.(a) |
53,300 | 955,411 | ||||||
Canon Electronics, Inc. |
25,600 | 384,086 | ||||||
Dexerials Corp. |
51,200 | 1,011,381 | ||||||
ESPEC Corp. |
25,600 | 542,172 | ||||||
Hakuto Co., Ltd. |
25,619 | 419,731 | ||||||
Hamamatsu Photonics K.K. |
22,600 | 1,405,727 | ||||||
Hirose Electric Co., Ltd. |
11,260 | 1,880,115 | ||||||
Horiba Ltd. |
18,900 | 1,328,039 | ||||||
Ibiden Co., Ltd. |
23,201 | 1,289,233 | ||||||
Iriso Electronics Co., Ltd. |
5,000 | 204,795 | ||||||
Japan Aviation Electronics Industry Ltd. |
34,300 | 502,934 | ||||||
Kaga Electronics Co., Ltd. |
25,600 | 694,062 | ||||||
Keyence Corp. |
18,140 | 10,892,942 | ||||||
Kyosan Electric Manufacturing Co., Ltd. |
72,600 | 344,862 | ||||||
Macnica Fuji Electronics Holdings, Inc. |
50,900 | 1,191,582 | ||||||
Murata Manufacturing Co., Ltd. |
258,968 | 23,117,377 | ||||||
Nichicon Corp.(a) |
57,900 | 551,107 | ||||||
Nippon Electric Glass Co., Ltd. |
95,660 | 2,276,292 | ||||||
Nissha Co., Ltd.(a) |
25,600 | 410,931 | ||||||
Oki Electric Industry Co., Ltd. |
71,730 | 629,385 | ||||||
Omron Corp. |
62,900 | 6,257,585 | ||||||
Optex Group Co., Ltd. |
15,200 | 208,570 | ||||||
Restar Holdings Corp. |
26,000 | 433,897 | ||||||
Riken Keiki Co., Ltd. |
15,500 | 425,095 | ||||||
Ryoden Corp. |
26,000 | 407,797 | ||||||
Ryosan Co., Ltd. |
25,645 | 531,173 | ||||||
Sanshin Electronics Co., Ltd.(a) |
25,954 | 400,330 |
See Notes to Financial Statements.
WisdomTree Trust | 27 |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged Equity Fund (DXJ)
September 30, 2021
Investments | Shares | Value | ||||||
Shimadzu Corp. |
52,400 | $ | 2,308,277 | |||||
Siix Corp. |
30,200 | 325,887 | ||||||
Taiyo Yuden Co., Ltd. |
30,400 | 1,800,977 | ||||||
TDK Corp. |
97,704 | 3,542,126 | ||||||
Tokyo Electron Device Ltd.(a) |
10,800 | 714,354 | ||||||
V Technology Co., Ltd.(a) |
6,200 | 249,500 | ||||||
Yokogawa Electric Corp. |
105,538 | 1,853,004 | ||||||
|
|
|||||||
Total Electronic Equipment, Instruments & Components |
|
71,685,540 | ||||||
Entertainment – 2.6% |
| |||||||
Capcom Co., Ltd. |
57,200 | 1,591,808 | ||||||
GungHo Online Entertainment, Inc. |
17,249 | 317,230 | ||||||
Koei Tecmo Holdings Co., Ltd. |
53,122 | 2,532,906 | ||||||
Konami Holdings Corp. |
18,700 | 1,178,230 | ||||||
Nexon Co., Ltd. |
40,800 | 660,772 | ||||||
Nintendo Co., Ltd. |
79,200 | 38,551,217 | ||||||
Square Enix Holdings Co., Ltd. |
27,500 | 1,466,502 | ||||||
Toei Animation Co., Ltd.(a) |
10,800 | 1,997,867 | ||||||
|
|
|||||||
Total Entertainment | 48,296,532 | |||||||
Food & Staples Retailing – 1.2% |
| |||||||
Ministop Co., Ltd. |
25,600 | 330,856 | ||||||
Seven & I Holdings Co., Ltd. |
484,924 | 22,100,278 | ||||||
|
|
|||||||
Total Food & Staples Retailing | 22,431,134 | |||||||
Food Products – 1.1% |
| |||||||
Ajinomoto Co., Inc. |
159,813 | 4,735,306 | ||||||
Ariake Japan Co., Ltd. |
10,000 | 630,966 | ||||||
Fuji Oil Holdings, Inc. |
38,000 | 893,336 | ||||||
Kagome Co., Ltd. |
24,000 | 619,494 | ||||||
Kikkoman Corp.(a) |
30,100 | 2,452,243 | ||||||
Nippon Suisan Kaisha Ltd. |
101,600 | 592,799 | ||||||
Nisshin Seifun Group, Inc. |
124,000 | 2,068,241 | ||||||
Nissin Foods Holdings Co., Ltd. |
37,200 | 2,987,336 | ||||||
Riken Vitamin Co., Ltd. |
21,000 | 353,843 | ||||||
Sakata Seed Corp. |
11,839 | 372,439 | ||||||
Toyo Suisan Kaisha Ltd. |
48,700 | 2,162,747 | ||||||
Yakult Honsha Co., Ltd. |
41,987 | 2,129,925 | ||||||
|
|
|||||||
Total Food Products | 19,998,675 | |||||||
Health Care Equipment & Supplies – 1.3% |
| |||||||
Asahi Intecc Co., Ltd.(a) |
11,800 | 324,678 | ||||||
Hoya Corp. |
47,757 | 7,479,754 | ||||||
Jeol Ltd. |
10,400 | 765,261 | ||||||
Mani, Inc. |
20,100 | 384,436 | ||||||
Nakanishi, Inc. |
27,800 | 633,613 | ||||||
Nihon Kohden Corp. |
27,600 | 939,995 | ||||||
Nipro Corp. |
47,700 | 496,773 | ||||||
Olympus Corp. |
128,100 | 2,820,324 | ||||||
Sysmex Corp. |
40,060 | 5,001,441 | ||||||
Terumo Corp. |
98,512 | 4,666,242 | ||||||
|
|
|||||||
Total Health Care Equipment & Supplies | 23,512,517 | |||||||
Health Care Technology – 0.1% |
| |||||||
M3, Inc. |
25,100 | 1,797,887 | ||||||
Hotels, Restaurants & Leisure – 0.0% |
| |||||||
Saizeriya Co., Ltd. |
4,800 | 125,447 | ||||||
Household Durables – 2.3% |
| |||||||
Casio Computer Co., Ltd.(a) |
96,457 | 1,605,384 | ||||||
Fujitsu General Ltd.(a) |
25,600 | 638,996 | ||||||
Panasonic Corp. |
1,244,970 | 15,509,821 | ||||||
Rinnai Corp. |
13,100 | 1,439,444 | ||||||
Sekisui Chemical Co., Ltd. |
226,200 | 3,906,676 | ||||||
Sharp Corp. |
137,500 | 1,746,247 | ||||||
Sony Group Corp. |
139,900 | 15,616,890 | ||||||
Sumitomo Forestry Co., Ltd. |
59,000 | 1,133,731 | ||||||
Tamron Co., Ltd. |
23,100 | 552,371 | ||||||
Toa Corp. |
25,600 | 190,896 | ||||||
Zojirushi Corp. |
22,400 | 360,568 | ||||||
|
|
|||||||
Total Household Durables | 42,701,024 | |||||||
Household Products – 0.2% |
| |||||||
Lion Corp.(a) |
55,400 | 897,721 | ||||||
Pigeon Corp. |
33,700 | 785,301 | ||||||
Unicharm Corp.(a) |
67,200 | 2,980,711 | ||||||
|
|
|||||||
Total Household Products | 4,663,733 | |||||||
Independent Power & Renewable Electricity Producers – 0.1% |
| |||||||
Electric Power Development Co., Ltd. |
167,200 | 2,423,145 | ||||||
Industrial Conglomerates – 1.7% |
| |||||||
Hitachi Ltd. |
482,505 | 28,714,615 | ||||||
Nisshinbo Holdings, Inc.(a) |
136,624 | 1,038,379 | ||||||
Toshiba Corp. |
63,300 | 2,674,968 | ||||||
|
|
|||||||
Total Industrial Conglomerates | 32,427,962 | |||||||
Insurance – 3.2% |
| |||||||
Dai-ichi Life Holdings, Inc. |
872,800 | 19,345,144 | ||||||
Sompo Holdings, Inc. |
271,000 | 11,855,263 | ||||||
Tokio Marine Holdings, Inc. |
537,100 | 28,983,904 | ||||||
|
|
|||||||
Total Insurance | 60,184,311 | |||||||
Internet & Direct Marketing Retail – 0.1% |
| |||||||
Rakuten Group Inc. |
119,900 | 1,161,657 | ||||||
IT Services – 1.6% |
| |||||||
Fujitsu Ltd. |
90,532 | 16,479,542 | ||||||
NEC Corp. |
107,600 | 5,853,748 | ||||||
NTT Data Corp. |
372,000 | 7,218,284 | ||||||
|
|
|||||||
Total IT Services | 29,551,574 | |||||||
Leisure Products – 0.9% |
| |||||||
Bandai Namco Holdings, Inc. |
67,500 | 5,081,784 | ||||||
Mizuno Corp. |
26,000 | 624,513 | ||||||
Sega Sammy Holdings, Inc. |
147,600 | 2,107,343 | ||||||
Shimano, Inc. |
16,600 | 4,894,824 | ||||||
Tomy Co., Ltd. |
46,800 | 478,591 | ||||||
Yamaha Corp. |
46,607 | 2,944,919 | ||||||
|
|
|||||||
Total Leisure Products | 16,131,974 | |||||||
Machinery – 4.7% |
| |||||||
Aida Engineering Ltd. |
47,300 | 447,246 | ||||||
Amada Co., Ltd. |
301,593 | 3,146,352 |
See Notes to Financial Statements.
28 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged Equity Fund (DXJ)
September 30, 2021
Investments | Shares | Value | ||||||
Anest Iwata Corp. |
25,600 | $ | 214,299 | |||||
CKD Corp. |
22,000 | 471,647 | ||||||
Daifuku Co., Ltd. |
23,900 | 2,253,444 | ||||||
DMG Mori Co., Ltd. |
58,400 | 1,104,405 | ||||||
Ebara Corp. |
33,431 | 1,662,936 | ||||||
FANUC Corp. |
39,289 | 8,650,094 | ||||||
Fujitec Co., Ltd. |
55,000 | 1,287,071 | ||||||
Furukawa Co., Ltd. |
40,300 | 443,183 | ||||||
Glory Ltd. |
37,000 | 829,039 | ||||||
Harmonic Drive Systems, Inc.(a) |
4,400 | 212,951 | ||||||
Hitachi Construction Machinery Co., Ltd. |
47,400 | 1,348,824 | ||||||
Hitachi Zosen Corp. |
143,900 | 1,110,445 | ||||||
Hokuetsu Industries Co., Ltd. |
25,600 | 229,442 | ||||||
Hoshizaki Corp. |
16,069 | 1,466,121 | ||||||
Iseki & Co., Ltd.* |
25,600 | 383,398 | ||||||
Japan Steel Works Ltd. (The) |
28,600 | 747,714 | ||||||
Juki Corp. |
37,700 | 282,475 | ||||||
Kito Corp. |
26,000 | 421,313 | ||||||
Kitz Corp. |
66,000 | 466,717 | ||||||
Komatsu Ltd. |
422,106 | 10,195,614 | ||||||
Kubota Corp. |
425,202 | 9,104,258 | ||||||
Kurita Water Industries Ltd. |
42,400 | 2,052,073 | ||||||
Makita Corp. |
55,138 | 3,039,200 | ||||||
Meidensha Corp. |
21,900 | 485,794 | ||||||
MINEBEA MITSUMI, Inc. |
110,201 | 2,828,731 | ||||||
MISUMI Group, Inc. |
22,500 | 958,884 | ||||||
Mitsubishi Heavy Industries Ltd. |
216,719 | 5,873,702 | ||||||
Mitsubishi Logisnext Co., Ltd. |
40,000 | 415,505 | ||||||
Mitsuboshi Belting Ltd. |
25,600 | 479,305 | ||||||
Miura Co., Ltd. |
21,200 | 853,130 | ||||||
Nabtesco Corp. |
51,200 | 1,950,258 | ||||||
Nachi-Fujikoshi Corp. |
12,400 | 509,559 | ||||||
NGK Insulators Ltd. |
139,975 | 2,387,384 | ||||||
Nikkiso Co., Ltd. |
48,100 | 417,736 | ||||||
Nippon Thompson Co., Ltd. |
60,000 | 300,605 | ||||||
Nissei ASB Machine Co., Ltd.(a) |
6,300 | 217,387 | ||||||
Nitta Corp. |
26,000 | 640,125 | ||||||
NSK Ltd.(a) |
185,166 | 1,262,929 | ||||||
Obara Group, Inc.(a) |
14,400 | 503,339 | ||||||
Oiles Corp. |
25,600 | 377,891 | ||||||
OKUMA Corp. |
11,400 | 555,823 | ||||||
Organo Corp. |
8,000 | 492,583 | ||||||
OSG Corp. |
35,924 | 621,084 | ||||||
Shibaura Machine Co., Ltd. |
25,900 | 639,985 | ||||||
Shibuya Corp. |
16,200 | 447,197 | ||||||
Shinmaywa Industries Ltd. |
61,400 | 514,533 | ||||||
SMC Corp. |
8,751 | 5,496,483 | ||||||
Star Micronics Co., Ltd. |
34,900 | 487,020 | ||||||
Sumitomo Heavy Industries Ltd. |
41,737 | 1,100,144 | ||||||
Takeuchi Manufacturing Co., Ltd. |
19,400 | 453,637 | ||||||
THK Co., Ltd. |
21,979 | 487,547 | ||||||
Tsubakimoto Chain Co. |
23,500 | 734,013 | ||||||
Tsugami Corp. |
28,200 | 430,677 | ||||||
Union Tool Co. |
11,800 | 417,217 | ||||||
YAMABIKO Corp. |
10,500 | 116,787 | ||||||
Yaskawa Electric Corp. |
47,600 | 2,303,742 | ||||||
|
|
|||||||
Total Machinery | 87,330,997 | |||||||
Marine – 0.5% |
| |||||||
Iino Kaiun Kaisha Ltd. |
146,100 | 687,453 | ||||||
Nippon Yusen K.K.(a) |
98,400 | 7,452,207 | ||||||
NS United Kaiun Kaisha Ltd. |
22,800 | 840,887 | ||||||
|
|
|||||||
Total Marine | 8,980,547 | |||||||
Media – 0.3% |
| |||||||
Dentsu Group, Inc.(a) |
162,600 | 6,273,744 | ||||||
Metals & Mining – 0.6% |
| |||||||
Asahi Holdings, Inc. |
95,200 | 1,732,073 | ||||||
Daido Steel Co., Ltd. |
19,900 | 849,863 | ||||||
Daiki Aluminium Industry Co., Ltd. |
58,800 | 874,820 | ||||||
Dowa Holdings Co., Ltd. |
30,900 | 1,224,091 | ||||||
Kyoei Steel Ltd. |
43,300 | 537,878 | ||||||
Maruichi Steel Tube Ltd. |
48,700 | 1,133,096 | ||||||
Mitsubishi Materials Corp. |
48,800 | 958,724 | ||||||
Mitsui Mining & Smelting Co., Ltd. |
33,800 | 949,702 | ||||||
Nippon Yakin Kogyo Co., Ltd. |
7,510 | 178,840 | ||||||
Sumitomo Metal Mining Co., Ltd. |
82,300 | 2,998,427 | ||||||
UACJ Corp.* |
12,100 | 318,401 | ||||||
|
|
|||||||
Total Metals & Mining | 11,755,915 | |||||||
Multiline Retail – 0.1% |
| |||||||
Ryohin Keikaku Co., Ltd.(a) |
54,100 | 1,212,189 | ||||||
Oil, Gas & Consumable Fuels – 2.0% |
| |||||||
ENEOS Holdings, Inc. |
3,707,300 | 15,148,179 | ||||||
Idemitsu Kosan Co., Ltd. |
354,400 | 9,357,494 | ||||||
Inpex Corp. |
1,621,200 | 12,728,400 | ||||||
|
|
|||||||
Total Oil, Gas & Consumable Fuels | 37,234,073 | |||||||
Paper & Forest Products – 0.2% |
| |||||||
Hokuetsu Corp.(a) |
146,600 | 903,973 | ||||||
Oji Holdings Corp. |
580,200 | 2,938,051 | ||||||
|
|
|||||||
Total Paper & Forest Products | 3,842,024 | |||||||
Personal Products – 1.1% |
| |||||||
Kao Corp. |
239,980 | 14,313,842 | ||||||
Kose Corp. |
13,200 | 1,582,935 | ||||||
Mandom Corp. |
25,400 | 365,605 | ||||||
Rohto Pharmaceutical Co., Ltd. |
30,600 | 940,695 | ||||||
Shiseido Co., Ltd. |
58,422 | 3,946,463 | ||||||
|
|
|||||||
Total Personal Products | 21,149,540 | |||||||
Pharmaceuticals – 8.7% |
| |||||||
Astellas Pharma, Inc. |
995,604 | 16,440,962 | ||||||
Chugai Pharmaceutical Co., Ltd. |
629,800 | 23,159,932 | ||||||
Daiichi Sankyo Co., Ltd. |
564,963 | 15,086,778 | ||||||
Eisai Co., Ltd. |
153,577 | 11,556,644 | ||||||
Hisamitsu Pharmaceutical Co., Inc. |
30,900 | 1,175,626 | ||||||
Kyowa Kirin Co., Ltd. |
169,770 | 6,124,349 | ||||||
Nichi-iko Pharmaceutical Co., Ltd.(a) |
35,200 | 283,619 | ||||||
Ono Pharmaceutical Co., Ltd. |
200,800 | 4,594,599 |
See Notes to Financial Statements.
WisdomTree Trust | 29 |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged Equity Fund (DXJ)
September 30, 2021
Investments | Shares | Value | ||||||
Otsuka Holdings Co., Ltd. |
379,400 | $ | 16,277,731 | |||||
Santen Pharmaceutical Co., Ltd. |
104,300 | 1,473,241 | ||||||
Sawai Group Holdings Co., Ltd. |
33,600 | 1,565,942 | ||||||
Shionogi & Co., Ltd. |
123,777 | 8,491,052 | ||||||
Sumitomo Dainippon Pharma Co., Ltd. |
173,700 | 3,110,487 | ||||||
Takeda Pharmaceutical Co., Ltd. |
1,535,863 | 50,917,833 | ||||||
ZERIA Pharmaceutical Co., Ltd. |
25,600 | 472,421 | ||||||
|
|
|||||||
Total Pharmaceuticals | 160,731,216 | |||||||
Professional Services – 0.8% |
| |||||||
BeNext-Yumeshin Group Co. |
35,100 | 412,108 | ||||||
Outsourcing, Inc. |
62,400 | 1,132,512 | ||||||
Persol Holdings Co., Ltd. |
66,400 | 1,672,274 | ||||||
Recruit Holdings Co., Ltd. |
181,600 | 11,119,796 | ||||||
Weathernews, Inc. |
4,600 | 271,692 | ||||||
|
|
|||||||
Total Professional Services | 14,608,382 | |||||||
Road & Rail – 0.4% |
| |||||||
Hitachi Transport System Ltd. |
45,600 | 2,033,251 | ||||||
Nippon Express Co., Ltd. |
69,800 | 4,829,541 | ||||||
|
|
|||||||
Total Road & Rail | 6,862,792 | |||||||
Semiconductors & Semiconductor Equipment – 3.6% |
| |||||||
Advantest Corp. |
54,600 | 4,908,250 | ||||||
Disco Corp. |
10,500 | 2,950,258 | ||||||
Ferrotec Holdings Corp. |
17,900 | 511,772 | ||||||
Lasertec Corp. |
13,100 | 3,004,517 | ||||||
Optorun Co., Ltd. |
21,300 | 446,522 | ||||||
Rohm Co., Ltd. |
32,600 | 3,108,797 | ||||||
SCREEN Holdings Co., Ltd.(a) |
6,760 | 582,242 | ||||||
Shibaura Mechatronics Corp.(a) |
6,300 | 381,698 | ||||||
Shinko Electric Industries Co., Ltd.(a) |
37,559 | 1,258,980 | ||||||
SUMCO Corp. |
100,900 | 2,035,634 | ||||||
Tokyo Electron Ltd. |
101,253 | 45,074,941 | ||||||
Tokyo Seimitsu Co., Ltd. |
15,700 | 649,388 | ||||||
Ulvac, Inc. |
17,400 | 999,632 | ||||||
Yamaichi Electronics Co., Ltd. |
18,600 | 276,729 | ||||||
|
|
|||||||
Total Semiconductors & Semiconductor Equipment |
|
66,189,360 | ||||||
Software – 0.3% |
| |||||||
Trend Micro, Inc. |
104,608 | 5,831,609 | ||||||
Specialty Retail – 0.7% |
| |||||||
ABC-Mart, Inc. |
47,500 | 2,694,824 | ||||||
Fast Retailing Co., Ltd. |
12,400 | 9,166,498 | ||||||
IDOM, Inc. |
13,800 | 125,044 | ||||||
VT Holdings Co., Ltd. |
128,200 | 634,250 | ||||||
|
|
|||||||
Total Specialty Retail | 12,620,616 | |||||||
Technology Hardware, Storage & Peripherals – 3.6% |
| |||||||
Brother Industries Ltd. |
137,143 | 3,032,326 | ||||||
Canon, Inc.(a) |
1,608,697 | 39,512,742 | ||||||
Eizo Corp. |
13,600 | 521,085 | ||||||
FUJIFILM Holdings Corp. |
165,495 | 14,297,166 | ||||||
MCJ Co., Ltd. |
65,200 | 702,985 | ||||||
Seiko Epson Corp. |
394,900 | 7,995,331 | ||||||
Wacom Co., Ltd. |
38,800 | 248,292 | ||||||
|
|
|||||||
Total Technology Hardware, Storage & Peripherals |
|
66,309,927 | ||||||
Textiles, Apparel & Luxury Goods – 0.3% |
| |||||||
Asics Corp. |
52,692 | 1,209,921 | ||||||
Kurabo Industries Ltd. |
17,947 | 331,354 | ||||||
Onward Holdings Co., Ltd. |
381,000 | 1,236,137 | ||||||
Seiko Holdings Corp. |
56,300 | 1,141,895 | ||||||
Seiren Co., Ltd. |
25,610 | 482,705 | ||||||
Wacoal Holdings Corp. |
25,600 | 544,466 | ||||||
|
|
|||||||
Total Textiles, Apparel & Luxury Goods | 4,946,478 | |||||||
Tobacco – 3.0% |
| |||||||
Japan Tobacco, Inc. |
2,872,631 | 56,384,153 | ||||||
Trading Companies & Distributors – 7.9% |
| |||||||
Alconix Corp. |
26,000 | 377,504 | ||||||
Hanwa Co., Ltd. |
25,600 | 797,311 | ||||||
Inabata & Co., Ltd. |
59,286 | 920,308 | ||||||
ITOCHU Corp.(a) |
1,483,694 | 43,576,655 | ||||||
Marubeni Corp. |
1,445,278 | 12,088,133 | ||||||
Mitsubishi Corp. |
1,609,900 | 51,020,447 | ||||||
Nagase & Co., Ltd. |
110,800 | 1,878,858 | ||||||
Nippon Steel Trading Corp. |
25,600 | 1,160,977 | ||||||
Sanyo Trading Co., Ltd. |
25,800 | 271,238 | ||||||
Sojitz Corp. |
267,304 | 4,408,150 | ||||||
Sumitomo Corp. |
1,347,277 | 19,096,738 | ||||||
Toyota Tsusho Corp. |
233,010 | 9,930,205 | ||||||
|
|
|||||||
Total Trading Companies & Distributors |
|
145,526,524 | ||||||
Transportation Infrastructure – 0.0% |
| |||||||
Nissin Corp. |
25,600 | 379,727 | ||||||
Wireless Telecommunication Services – 0.8% |
| |||||||
SoftBank Group Corp. |
246,100 | 14,292,879 | ||||||
TOTAL COMMON STOCKS (Cost: $1,761,898,192) |
|
1,834,257,329 | ||||||
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.6% |
| |||||||
United States – 0.6% |
| |||||||
State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(b) |
||||||||
(Cost: $11,800,278) | 11,800,278 | 11,800,278 | ||||||
TOTAL INVESTMENTS IN SECURITIES – 99.6% (Cost: $1,773,698,470) |
|
1,846,057,607 | ||||||
Other Assets less Liabilities – 0.4% |
|
6,960,677 | ||||||
|
|
|||||||
NET ASSETS – 100.0% |
|
$ | 1,853,018,284 |
* |
Non-income producing security. |
(a) |
Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $25,833,872 and the total market value of the collateral held by the Fund was $27,167,971. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $15,367,693. |
(b) |
Rate shown represents annualized 7-day yield as of September 30, 2021. |
See Notes to Financial Statements.
30 | WisdomTree Trust |
Schedule of Investments (unaudited) (concluded)
WisdomTree Japan Hedged Equity Fund (DXJ)
September 30, 2021
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 49,128,585,822 | JPY | 440,316,573 | USD | $ | 5,081 | $ | — | |||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 437,295,533 | USD | 48,028,649,414 | JPY | 6,832,209 | — | |||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 27,189,360 | USD | 2,980,568,335 | JPY | 475,609 | — | |||||||||||||||||||||
Bank of America N.A. |
11/4/2021 | 466,350,649 | USD | 52,023,187,028 | JPY | — | (9,615 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 5,314,463,614 | JPY | 48,336,639 | USD | — | (705,034 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,333,041,150 | JPY | 12,084,160 | USD | — | (136,597 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 49,128,365,664 | JPY | 440,316,573 | USD | 3,108 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 437,295,533 | USD | 48,028,430,766 | JPY | 6,834,169 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 30,210,400 | USD | 3,317,346,624 | JPY | 478,228 | — | |||||||||||||||||||||
Citibank N.A. |
11/4/2021 | 466,350,649 | USD | 52,023,093,758 | JPY | — | (8,779 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 1,319,457,346 | JPY | 12,084,160 | USD | — | (258,344 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 49,128,497,759 | JPY | 440,316,573 | USD | 4,292 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 437,295,533 | USD | 48,028,124,659 | JPY | 6,836,912 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 21,147,280 | USD | 2,346,927,249 | JPY | 112,624 | — | |||||||||||||||||||||
Goldman Sachs |
11/4/2021 | 466,350,649 | USD | 52,023,000,488 | JPY | — | (7,943 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/1/2021 | 59,992,987 | JPY | 537,957 | USD | — | (265 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 334,418,856 | JPY | 3,021,040 | USD | — | (23,765 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 49,128,453,727 | JPY | 440,316,573 | USD | 3,897 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 437,295,532 | USD | 48,028,386,927 | JPY | 6,834,561 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/4/2021 | 466,350,649 | USD | 52,023,187,028 | JPY | — | (9,615 | ) | ||||||||||||||||||||
UBS AG |
10/5/2021 | 9,063,120 | USD | 998,095,122 | JPY | 117,556 | — | |||||||||||||||||||||
$ | 28,538,246 | $ | (1,159,957 | ) |
FAIR VALUATION SUMMARY |
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 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 |
$ | 1,834,257,329 | $ | — | $ | — | $ | 1,834,257,329 | ||||||||
Investment of Cash Collateral for Securities Loaned |
— | 11,800,278 | — | 11,800,278 | ||||||||||||
Total Investments in Securities |
$ | 1,834,257,329 | $ | 11,800,278 | $ | — | $ | 1,846,057,607 | ||||||||
Financial Derivative Instruments | ||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | 28,538,246 | $ | — | $ | 28,538,246 | ||||||||
Liabilities: |
|
|||||||||||||||
Financial Derivative Instruments | ||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | (1,159,957 | ) | $ | — | $ | (1,159,957 | ) | ||||||
Total – Net |
$ | 1,834,257,329 | $ | 39,178,567 | $ | — | $ | 1,873,435,896 |
1 |
Amount shown represents the unrealized appreciation (depreciation) on the financial instrument. |
See Notes to Financial Statements.
WisdomTree Trust | 31 |
Schedule of Investments (unaudited)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
COMMON STOCKS – 99.0% | ||||||||
Japan – 99.0% | ||||||||
Air Freight & Logistics – 0.4% | ||||||||
Kintetsu World Express, Inc. |
2,200 | $ | 56,136 | |||||
Konoike Transport Co., Ltd. |
2,200 | 25,278 | ||||||
Maruwa Unyu Kikan Co., Ltd.(a) |
1,300 | 18,712 | ||||||
Mitsui-Soko Holdings Co., Ltd. |
1,800 | 40,816 | ||||||
SBS Holdings, Inc. |
1,100 | 41,654 | ||||||
|
|
|||||||
Total Air Freight & Logistics |
|
182,596 | ||||||
Auto Components – 5.3% | ||||||||
Daido Metal Co., Ltd. |
7,600 | 42,027 | ||||||
Daikyonishikawa Corp. |
8,100 | 47,406 | ||||||
Eagle Industry Co., Ltd. |
6,300 | 70,129 | ||||||
Exedy Corp. |
5,200 | 79,835 | ||||||
FCC Co., Ltd. |
3,000 | 42,429 | ||||||
Futaba Industrial Co., Ltd. |
4,700 | 20,135 | ||||||
G-Tekt Corp. |
3,898 | 51,042 | ||||||
JTEKT Corp. |
33,200 | 291,011 | ||||||
Musashi Seimitsu Industry Co., Ltd. |
2,100 | 36,871 | ||||||
NHK Spring Co., Ltd. |
8,000 | 57,432 | ||||||
Nifco, Inc. |
5,200 | 162,420 | ||||||
Nihon Tokushu Toryo Co., Ltd. |
2,700 | 25,336 | ||||||
NOK Corp. |
7,300 | 86,167 | ||||||
Pacific Industrial Co., Ltd. |
3,700 | 39,197 | ||||||
Riken Corp. |
1,300 | 33,078 | ||||||
Shoei Co., Ltd. |
1,500 | 67,757 | ||||||
Sumitomo Riko Co., Ltd. |
5,900 | 40,558 | ||||||
Sumitomo Rubber Industries Ltd. |
17,200 | 219,519 | ||||||
Tokai Rika Co., Ltd. |
6,925 | 99,740 | ||||||
Topre Corp. |
3,600 | 42,881 | ||||||
Toyo Tire Corp.(a) |
9,000 | 161,730 | ||||||
Toyoda Gosei Co., Ltd. |
5,100 | 102,709 | ||||||
Toyota Boshoku Corp. |
10,100 | 180,230 | ||||||
TPR Co., Ltd. |
3,006 | 40,520 | ||||||
TS Tech Co., Ltd. |
8,000 | 103,607 | ||||||
Yokohama Rubber Co., Ltd. (The) |
15,300 | 276,312 | ||||||
|
|
|||||||
Total Auto Components |
|
2,420,078 | ||||||
Automobiles – 0.1% | ||||||||
Nissan Shatai Co., Ltd. |
4,900 | 35,177 | ||||||
Banks – 6.5% | ||||||||
77 Bank Ltd. (The) |
5,500 | 62,899 | ||||||
Aichi Bank Ltd. (The) |
1,000 | 32,534 | ||||||
Akita Bank Ltd. (The) |
2,700 | 35,282 | ||||||
Aomori Bank Ltd. (The) |
1,100 | 21,187 | ||||||
Awa Bank Ltd. (The) |
1,900 | 37,293 | ||||||
Bank of Iwate Ltd. (The) |
1,200 | 18,499 | ||||||
Bank of Nagoya Ltd. (The)(a) |
1,200 | 28,533 | ||||||
Bank of Okinawa Ltd. (The)* |
1,240 | 31,018 | ||||||
Bank of Saga Ltd. (The) |
3,300 | 43,507 | ||||||
Bank of the Ryukyus Ltd. |
3,000 | 21,134 | ||||||
Chugoku Bank Ltd. (The) |
9,300 | 71,933 | ||||||
Chukyo Bank Ltd. (The) |
1,100 | 13,723 | ||||||
Daishi Hokuetsu Financial Group, Inc. |
5,700 | 130,016 | ||||||
Ehime Bank Ltd. (The) |
1,700 | 12,022 | ||||||
FIDEA Holdings Co., Ltd.(a) |
2,900 | 33,009 | ||||||
Fukui Bank Ltd. (The) |
1,300 | 18,316 | ||||||
Gunma Bank Ltd. (The) |
34,300 | 110,977 | ||||||
Hachijuni Bank Ltd. (The) |
37,300 | 133,387 | ||||||
Hokkoku Bank Ltd. (The)* |
1,200 | 23,382 | ||||||
Hokuhoku Financial Group, Inc. |
11,300 | 86,795 | ||||||
Hyakugo Bank Ltd. (The) |
15,300 | 44,704 | ||||||
Hyakujushi Bank Ltd. (The) |
3,000 | 41,999 | ||||||
Iyo Bank Ltd. (The) |
21,300 | 109,960 | ||||||
Jimoto Holdings, Inc.(a) |
2,340 | 14,366 | ||||||
Juroku Bank Ltd. (The) |
3,200 | 62,695 | ||||||
Keiyo Bank Ltd. (The) |
9,100 | 36,702 | ||||||
Kiyo Bank Ltd. (The) |
3,798 | 54,021 | ||||||
Kyushu Financial Group, Inc. |
23,200 | 83,589 | ||||||
Mebuki Financial Group, Inc. |
127,100 | 280,229 | ||||||
Miyazaki Bank Ltd. (The) |
1,800 | 33,782 | ||||||
Musashino Bank Ltd. (The)(a) |
3,900 | 64,350 | ||||||
Nanto Bank Ltd. (The) |
3,100 | 55,790 | ||||||
Nishi-Nippon Financial Holdings, Inc. |
15,900 | 102,176 | ||||||
North Pacific Bank Ltd.(a) |
40,300 | 92,104 | ||||||
Ogaki Kyoritsu Bank Ltd. (The) |
2,300 | 40,857 | ||||||
Oita Bank Ltd. (The) |
1,300 | 21,986 | ||||||
San ju San Financial Group, Inc. |
3,100 | 39,342 | ||||||
San-In Godo Bank Ltd. (The) |
11,100 | 56,109 | ||||||
Senshu Ikeda Holdings, Inc. |
30,800 | 45,548 | ||||||
Seven Bank Ltd.(a) |
168,900 | 376,931 | ||||||
Shiga Bank Ltd. (The) |
2,000 | 34,165 | ||||||
Shikoku Bank Ltd. (The) |
4,200 | 27,818 | ||||||
Suruga Bank Ltd.(a) |
8,100 | 30,200 | ||||||
Tochigi Bank Ltd. (The) |
10,100 | 16,656 | ||||||
Toho Bank Ltd. (The) |
12,900 | 24,742 | ||||||
Tokyo Kiraboshi Financial Group, Inc.(a) |
3,200 | 44,168 | ||||||
TOMONY Holdings, Inc. |
9,300 | 27,590 | ||||||
Towa Bank Ltd. (The) |
3,900 | 18,980 | ||||||
Yamagata Bank Ltd. (The) |
1,300 | 9,997 | ||||||
Yamaguchi Financial Group, Inc. |
19,900 | 118,785 | ||||||
Yamanashi Chuo Bank Ltd. (The) |
2,800 | 21,256 | ||||||
|
|
|||||||
Total Banks |
|
2,997,043 | ||||||
Beverages – 0.4% | ||||||||
Sapporo Holdings Ltd. |
3,700 | 85,391 | ||||||
Takara Holdings, Inc. |
7,900 | 114,632 | ||||||
|
|
|||||||
Total Beverages |
|
200,023 | ||||||
Building Products – 2.2% | ||||||||
Aica Kogyo Co., Ltd. |
4,800 | 164,983 | ||||||
Bunka Shutter Co., Ltd.(a) |
5,300 | 53,724 | ||||||
Central Glass Co., Ltd. |
2,300 | 43,124 | ||||||
Kondotec, Inc. |
2,300 | 20,511 | ||||||
Nichias Corp. |
5,200 | 127,606 | ||||||
Nichiha Corp. |
1,000 | 28,680 | ||||||
Nihon Flush Co., Ltd.(a) |
1,300 | 13,399 | ||||||
Nippon Aqua Co., Ltd. |
3,300 | 18,190 | ||||||
Nitto Boseki Co., Ltd. |
800 | 26,888 |
See Notes to Financial Statements.
32 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
Noritz Corp. |
2,000 | $ | 32,803 | |||||
Okabe Co., Ltd. |
4,100 | 25,833 | ||||||
Sanwa Holdings Corp. |
16,200 | 211,402 | ||||||
Shin Nippon Air Technologies Co., Ltd.(a) |
1,700 | 37,360 | ||||||
Sinko Industries Ltd. |
2,800 | 53,603 | ||||||
Takara Standard Co., Ltd. |
3,117 | 45,564 | ||||||
Takasago Thermal Engineering Co., Ltd. |
5,100 | 97,132 | ||||||
|
|
|||||||
Total Building Products |
|
1,000,802 | ||||||
Capital Markets – 1.7% | ||||||||
GMO Financial Holdings, Inc.(a) |
16,800 | 128,588 | ||||||
Ichiyoshi Securities Co., Ltd.(a) |
7,800 | 48,097 | ||||||
IwaiCosmo Holdings, Inc. |
5,000 | 62,290 | ||||||
Kyokuto Securities Co., Ltd.(a) |
4,100 | 29,875 | ||||||
Marusan Securities Co., Ltd.(a) |
7,100 | 40,662 | ||||||
Matsui Securities Co., Ltd. |
25,800 | 188,225 | ||||||
Mito Securities Co., Ltd. |
8,700 | 23,704 | ||||||
Monex Group, Inc. |
12,165 | 63,783 | ||||||
Morningstar Japan K.K. |
8,299 | 38,975 | ||||||
Okasan Securities Group, Inc.(a) |
10,700 | 39,031 | ||||||
Sparx Group Co., Ltd.(a) |
18,300 | 50,517 | ||||||
Tokai Tokyo Financial Holdings, Inc. |
19,600 | 71,496 | ||||||
|
|
|||||||
Total Capital Markets |
|
785,243 | ||||||
Chemicals – 9.5% | ||||||||
ADEKA Corp. |
11,300 | 256,130 | ||||||
Arakawa Chemical Industries Ltd.(a) |
2,300 | 25,438 | ||||||
Asahi Yukizai Corp. |
2,700 | 35,814 | ||||||
C.I. Takiron Corp. |
11,800 | 67,262 | ||||||
Chugoku Marine Paints Ltd. |
8,100 | 60,909 | ||||||
Daicel Corp. |
31,300 | 244,902 | ||||||
Dainichiseika Color & Chemicals Manufacturing Co., Ltd. |
1,200 | 29,598 | ||||||
Denka Co., Ltd. |
7,000 | 246,561 | ||||||
DIC Corp. |
6,700 | 190,056 | ||||||
Fujimi, Inc. |
2,400 | 139,171 | ||||||
Fujimori Kogyo Co., Ltd. |
1,000 | 43,603 | ||||||
Fuso Chemical Co., Ltd. |
1,500 | 68,160 | ||||||
Hokko Chemical Industry Co., Ltd. |
2,100 | 21,438 | ||||||
JCU Corp. |
900 | 35,935 | ||||||
JSP Corp. |
2,117 | 30,775 | ||||||
Kaneka Corp. |
4,848 | 204,001 | ||||||
KH Neochem Co., Ltd. |
2,000 | 55,210 | ||||||
Koatsu Gas Kogyo Co., Ltd. |
3,700 | 25,335 | ||||||
Konishi Co., Ltd.(a) |
2,000 | 32,104 | ||||||
Kumiai Chemical Industry Co., Ltd. |
3,694 | 29,102 | ||||||
Kureha Corp. |
1,800 | 122,769 | ||||||
Lintec Corp. |
7,900 | 181,047 | ||||||
Moriroku Holdings Co., Ltd. |
1,200 | 22,435 | ||||||
Nihon Nohyaku Co., Ltd. |
6,800 | 33,581 | ||||||
Nihon Parkerizing Co., Ltd. |
7,100 | 73,689 | ||||||
Nippon Kayaku Co., Ltd. |
12,100 | 134,258 | ||||||
Nippon Pillar Packing Co., Ltd.(a) |
2,300 | 55,575 | ||||||
Nippon Shokubai Co., Ltd. |
2,500 | 129,509 | ||||||
Nippon Soda Co., Ltd. |
2,600 | 84,472 | ||||||
Okamoto Industries, Inc. |
900 | 33,314 | ||||||
Osaka Organic Chemical Industry Ltd.(a) |
1,100 | 37,611 | ||||||
Osaka Soda Co., Ltd. |
2,177 | 52,896 | ||||||
Sakata INX Corp. |
4,200 | 44,268 | ||||||
Sanyo Chemical Industries Ltd. |
2,200 | 115,546 | ||||||
Sekisui Kasei Co., Ltd. |
4,200 | 22,360 | ||||||
Shikoku Chemicals Corp. |
2,900 | 36,388 | ||||||
Shin-Etsu Polymer Co., Ltd. |
5,200 | 49,029 | ||||||
Sumitomo Bakelite Co., Ltd. |
2,000 | 93,032 | ||||||
Sumitomo Seika Chemicals Co., Ltd. |
1,200 | 39,041 | ||||||
T Hasegawa Co., Ltd. |
2,700 | 64,611 | ||||||
Taiyo Holdings Co., Ltd. |
4,200 | 107,244 | ||||||
Takasago International Corp. |
1,100 | 29,527 | ||||||
Tayca Corp. |
1,300 | 15,694 | ||||||
Tokai Carbon Co., Ltd. |
14,700 | 189,852 | ||||||
Tokuyama Corp. |
4,100 | 78,932 | ||||||
Tokyo Ohka Kogyo Co., Ltd. |
1,800 | 111,154 | ||||||
Toyo Ink SC Holdings Co., Ltd. |
6,000 | 113,251 | ||||||
Toyobo Co., Ltd. |
4,900 | 61,571 | ||||||
Ube Industries Ltd.(a) |
11,080 | 218,273 | ||||||
Valqua Ltd. |
2,300 | 44,382 | ||||||
Zeon Corp. |
8,100 | 114,703 | ||||||
|
|
|||||||
Total Chemicals |
|
4,351,518 | ||||||
Commercial Services & Supplies – 1.7% | ||||||||
Aeon Delight Co., Ltd. |
2,200 | 70,096 | ||||||
CTS Co., Ltd.(a) |
2,000 | 14,448 | ||||||
Daiseki Co., Ltd. |
2,040 | 89,316 | ||||||
Japan Elevator Service Holdings Co., Ltd. |
900 | 20,779 | ||||||
Kokuyo Co., Ltd. |
5,800 | 98,508 | ||||||
Matsuda Sangyo Co., Ltd. |
1,300 | 33,929 | ||||||
Mitsubishi Pencil Co., Ltd. |
2,800 | 36,187 | ||||||
Nippon Air Conditioning Services Co., Ltd. |
4,900 | 34,957 | ||||||
Nippon Kanzai Co., Ltd.(a) |
1,900 | 43,866 | ||||||
Nippon Parking Development Co., Ltd. |
23,300 | 33,204 | ||||||
Okamura Corp. |
7,200 | 105,636 | ||||||
Pilot Corp. |
1,200 | 45,817 | ||||||
Sato Holdings Corp. |
2,100 | 51,345 | ||||||
Studio Alice Co., Ltd. |
1,200 | 26,307 | ||||||
Takara & Co. Ltd.(a) |
1,000 | 16,168 | ||||||
Toppan Forms Co., Ltd. |
5,400 | 49,705 | ||||||
|
|
|||||||
Total Commercial Services & Supplies |
|
770,268 | ||||||
Construction & Engineering – 6.5% | ||||||||
Asanuma Corp. |
1,100 | 45,351 | ||||||
Dai-Dan Co., Ltd. |
2,000 | 47,555 | ||||||
Daiho Corp. |
900 | 30,813 | ||||||
Fudo Tetra Corp.(a) |
2,100 | 33,935 | ||||||
Hazama Ando Corp. |
14,800 | 106,515 | ||||||
JDC Corp. |
10,200 | 55,491 | ||||||
JGC Holdings Corp. |
5,900 | 55,470 | ||||||
Kandenko Co., Ltd. |
16,100 | 134,197 | ||||||
Kumagai Gumi Co., Ltd. |
3,800 | 98,870 | ||||||
Kyudenko Corp. |
3,900 | 129,680 | ||||||
Maeda Corp.*(a) |
7,300 | 58,819 |
See Notes to Financial Statements.
WisdomTree Trust | 33 |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
Maeda Road Construction Co., Ltd.* |
8,100 | $ | 148,803 | |||||
Meisei Industrial Co., Ltd. |
4,000 | 26,744 | ||||||
Mirait Holdings Corp. |
4,244 | 84,595 | ||||||
Nippon Densetsu Kogyo Co., Ltd. |
1,800 | 30,588 | ||||||
Nippon Koei Co., Ltd. |
1,000 | 32,221 | ||||||
Nishimatsu Construction Co., Ltd.(a) |
4,800 | 149,496 | ||||||
Nittoc Construction Co., Ltd. |
6,300 | 40,428 | ||||||
Okumura Corp. |
3,800 | 102,173 | ||||||
Oriental Shiraishi Corp.* |
15,300 | 36,613 | ||||||
Penta-Ocean Construction Co., Ltd. |
24,800 | 169,594 | ||||||
Raito Kogyo Co., Ltd. |
3,800 | 67,434 | ||||||
Raiznext Corp. |
5,300 | 57,240 | ||||||
Sanki Engineering Co., Ltd. |
12,200 | 162,156 | ||||||
Seikitokyu Kogyo Co., Ltd. |
6,100 | 46,252 | ||||||
Shinnihon Corp. |
2,200 | 16,878 | ||||||
SHO-BOND Holdings Co., Ltd. |
2,000 | 88,909 | ||||||
Sumitomo Densetsu Co., Ltd.(a) |
2,700 | 56,408 | ||||||
Sumitomo Mitsui Construction Co., Ltd. |
17,340 | 77,861 | ||||||
Taihei Dengyo Kaisha Ltd. |
1,300 | 32,997 | ||||||
Taikisha Ltd. |
3,000 | 90,477 | ||||||
Takamatsu Construction Group Co., Ltd. |
2,800 | 50,717 | ||||||
Tekken Corp. |
1,100 | 17,963 | ||||||
Toa Corp.(a) |
1,700 | 37,558 | ||||||
Toa Road Corp. |
800 | 33,197 | ||||||
Tobishima Corp. |
3,000 | 29,980 | ||||||
Toda Corp. |
22,200 | 156,589 | ||||||
Tokyu Construction Co., Ltd.(a) |
11,900 | 83,937 | ||||||
Totetsu Kogyo Co., Ltd. |
2,800 | 61,960 | ||||||
Toyo Construction Co., Ltd. |
7,100 | 37,417 | ||||||
Wakachiku Construction Co., Ltd.(a) |
1,200 | 22,220 | ||||||
Yahagi Construction Co., Ltd. |
4,700 | 33,868 | ||||||
Yokogawa Bridge Holdings Corp. |
2,200 | 48,111 | ||||||
Yurtec Corp.(a) |
4,700 | 30,835 | ||||||
|
|
|||||||
Total Construction & Engineering |
|
2,958,915 | ||||||
Construction Materials – 0.6% | ||||||||
Asia Pile Holdings Corp. |
7,700 | 33,264 | ||||||
Krosaki Harima Corp. |
1,000 | 43,693 | ||||||
Shinagawa Refractories Co., Ltd. |
1,800 | 63,724 | ||||||
Sumitomo Osaka Cement Co., Ltd. |
3,000 | 84,024 | ||||||
Vertex Corp. |
1,300 | 38,216 | ||||||
|
|
|||||||
Total Construction Materials |
|
262,921 | ||||||
Consumer Finance – 1.5% | ||||||||
AEON Financial Service Co., Ltd. |
20,900 | 268,052 | ||||||
Credit Saison Co., Ltd. |
15,000 | 198,431 | ||||||
Jaccs Co., Ltd.(a) |
3,800 | 104,047 | ||||||
Orient Corp. |
94,100 | 140,001 | ||||||
|
|
|||||||
Total Consumer Finance |
|
710,531 | ||||||
Containers & Packaging – 0.9% | ||||||||
Fuji Seal International, Inc. |
2,200 | 47,835 | ||||||
Hokkan Holdings Ltd. |
1,900 | 24,607 | ||||||
Kohsoku Corp. |
1,300 | 17,535 | ||||||
Pack Corp. (The) |
900 | 25,046 | ||||||
Rengo Co., Ltd. |
23,081 | 181,421 | ||||||
Tomoku Co., Ltd.(a) |
1,800 | 31,297 | ||||||
Toyo Seikan Group Holdings Ltd.(a) |
6,100 | 72,112 | ||||||
|
|
|||||||
Total Containers & Packaging |
|
399,853 | ||||||
Distributors – 0.2% | ||||||||
Arata Corp. |
800 | 31,656 | ||||||
Doshisha Co., Ltd. |
2,900 | 45,667 | ||||||
Happinet Corp. |
2,300 | 31,024 | ||||||
|
|
|||||||
Total Distributors |
|
108,347 | ||||||
Diversified Consumer Services – 0.5% | ||||||||
Asante, Inc. |
1,300 | 20,763 | ||||||
Benesse Holdings, Inc. |
4,500 | 101,918 | ||||||
Japan Best Rescue System Co., Ltd. |
2,000 | 22,621 | ||||||
Riso Kyoiku Co., Ltd. |
8,100 | 31,943 | ||||||
Sprix Ltd. |
1,200 | 11,121 | ||||||
Tokyo Individualized Educational Institute, Inc. |
6,000 | 35,922 | ||||||
|
|
|||||||
Total Diversified Consumer Services |
|
224,288 | ||||||
Diversified Financial Services – 1.0% | ||||||||
eGuarantee, Inc. |
700 | 15,603 | ||||||
Fuyo General Lease Co., Ltd. |
2,200 | 152,418 | ||||||
Japan Investment Adviser Co., Ltd.(a) |
1,800 | 21,989 | ||||||
Japan Securities Finance Co., Ltd.(a) |
9,200 | 71,571 | ||||||
Mizuho Leasing Co., Ltd.(a) |
3,100 | 101,134 | ||||||
NEC Capital Solutions Ltd. |
1,800 | 34,266 | ||||||
Ricoh Leasing Co., Ltd. |
2,100 | 69,921 | ||||||
|
|
|||||||
Total Diversified Financial Services |
|
466,902 | ||||||
Diversified Telecommunication Services – 0.3% | ||||||||
ARTERIA Networks Corp. |
5,100 | 75,466 | ||||||
Asahi Net, Inc. |
2,000 | 13,784 | ||||||
Internet Initiative Japan, Inc.(a) |
2,000 | 69,819 | ||||||
|
|
|||||||
Total Diversified Telecommunication Services |
|
159,069 | ||||||
Electric Utilities – 0.7% | ||||||||
Hokkaido Electric Power Co., Inc. |
10,200 | 48,909 | ||||||
Hokuriku Electric Power Co. |
12,700 | 68,637 | ||||||
Okinawa Electric Power Co., Inc. (The) |
6,983 | 90,186 | ||||||
Shikoku Electric Power Co., Inc. |
18,200 | 126,580 | ||||||
|
|
|||||||
Total Electric Utilities |
|
334,312 | ||||||
Electrical Equipment – 1.3% | ||||||||
Daihen Corp. |
1,400 | 61,923 | ||||||
Denyo Co., Ltd. |
1,200 | 23,123 | ||||||
Furukawa Electric Co., Ltd. |
3,726 | 82,117 | ||||||
GS Yuasa Corp. |
3,700 | 84,297 | ||||||
Idec Corp. |
1,800 | 35,718 | ||||||
Mabuchi Motor Co., Ltd. |
3,200 | 111,279 | ||||||
Nippon Carbon Co., Ltd. |
1,000 | 37,553 | ||||||
Nissin Electric Co., Ltd. |
4,900 | 60,166 | ||||||
Nitto Kogyo Corp. |
3,000 | 47,215 | ||||||
Sanyo Denki Co., Ltd. |
300 | 19,144 | ||||||
Tatsuta Electric Wire and Cable Co., Ltd. |
5,900 | 28,396 | ||||||
|
|
|||||||
Total Electrical Equipment |
|
590,931 |
See Notes to Financial Statements.
34 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
Electronic Equipment, Instruments & Components – 5.4% |
| |||||||
Ai Holdings Corp. |
2,800 | $ | 59,551 | |||||
Alps Alpine Co., Ltd. |
5,800 | 63,315 | ||||||
Amano Corp. |
5,000 | 128,882 | ||||||
Canon Electronics, Inc. |
3,700 | 55,512 | ||||||
Canon Marketing Japan, Inc. |
9,900 | 231,052 | ||||||
CONEXIO Corp. |
3,900 | 54,563 | ||||||
Daiwabo Holdings Co., Ltd. |
6,900 | 111,439 | ||||||
Dexerials Corp. |
5,900 | 116,546 | ||||||
Elematec Corp. |
2,858 | 29,201 | ||||||
ESPEC Corp.(a) |
2,000 | 42,357 | ||||||
Hakuto Co., Ltd. |
3,000 | 49,151 | ||||||
Horiba Ltd. |
1,900 | 133,507 | ||||||
Innotech Corp. |
2,900 | 35,920 | ||||||
Iriso Electronics Co., Ltd. |
700 | 28,671 | ||||||
Japan Aviation Electronics Industry Ltd. |
3,900 | 57,185 | ||||||
Kaga Electronics Co., Ltd. |
3,100 | 84,047 | ||||||
Kyosan Electric Manufacturing Co., Ltd. |
6,700 | 31,826 | ||||||
Macnica Fuji Electronics Holdings, Inc. |
5,200 | 121,733 | ||||||
Meiko Electronics Co., Ltd. |
1,000 | 27,112 | ||||||
Nichicon Corp. |
4,800 | 45,688 | ||||||
Nippon Ceramic Co., Ltd. |
1,700 | 46,852 | ||||||
Nippon Electric Glass Co., Ltd. |
10,300 | 245,095 | ||||||
Nippon Signal Co., Ltd. |
4,300 | 38,578 | ||||||
Nissha Co., Ltd.(a) |
3,000 | 48,156 | ||||||
Nohmi Bosai Ltd. |
2,866 | 53,172 | ||||||
Oki Electric Industry Co., Ltd. |
9,300 | 81,602 | ||||||
Optex Group Co., Ltd. |
1,900 | 26,071 | ||||||
Osaki Electric Co., Ltd. |
4,800 | 23,876 | ||||||
Restar Holdings Corp. |
3,700 | 61,747 | ||||||
Riken Keiki Co., Ltd. |
1,100 | 30,168 | ||||||
Ryoden Corp. |
2,300 | 36,074 | ||||||
Ryosan Co., Ltd. |
1,800 | 37,282 | ||||||
Sanshin Electronics Co., Ltd.(a) |
2,100 | 32,392 | ||||||
Siix Corp. |
2,200 | 23,740 | ||||||
Tachibana Eletech Co., Ltd. |
2,100 | 28,872 | ||||||
Tokyo Electron Device Ltd.(a) |
1,000 | 66,144 | ||||||
Tsuzuki Denki Co., Ltd.(a) |
2,300 | 36,734 | ||||||
V Technology Co., Ltd.(a) |
700 | 28,169 | ||||||
|
|
|||||||
Total Electronic Equipment, Instruments & Components |
|
2,451,982 | ||||||
Energy Equipment & Services – 0.1% | ||||||||
Toyo Kanetsu K.K. |
1,300 | 30,655 | ||||||
Entertainment – 1.2% | ||||||||
Akatsuki, Inc. |
500 | 14,385 | ||||||
Avex, Inc. |
4,700 | 63,018 | ||||||
COLOPL, Inc. |
4,700 | 33,910 | ||||||
Daiichikosho Co., Ltd. |
3,900 | 145,059 | ||||||
GungHo Online Entertainment, Inc. |
2,100 | 38,622 | ||||||
Marvelous, Inc. |
4,900 | 31,093 | ||||||
Toei Animation Co., Ltd.(a) |
1,300 | 240,484 | ||||||
|
|
|||||||
Total Entertainment |
|
566,571 | ||||||
Food & Staples Retailing – 2.5% | ||||||||
Aeon Hokkaido Corp. |
2,900 | 32,307 | ||||||
Ain Holdings, Inc. |
700 | 43,791 | ||||||
Arcs Co., Ltd. |
2,900 | 58,949 | ||||||
Axial Retailing, Inc. |
1,100 | 37,414 | ||||||
Belc Co., Ltd. |
900 | 47,269 | ||||||
Cawachi Ltd. |
1,100 | 22,330 | ||||||
cocokara fine, Inc.(a) |
900 | 67,193 | ||||||
Create SD Holdings Co., Ltd. |
2,300 | 77,405 | ||||||
G-7 Holdings, Inc. |
3,800 | 69,921 | ||||||
Heiwado Co., Ltd.(a) |
2,000 | 39,059 | ||||||
Inageya Co., Ltd.(a) |
1,300 | 16,009 | ||||||
JM Holdings Co., Ltd. |
1,200 | 22,467 | ||||||
Kato Sangyo Co., Ltd. |
2,100 | 62,487 | ||||||
Kusuri no Aoki Holdings Co., Ltd.(a) |
200 | 13,785 | ||||||
Life Corp. |
2,100 | 84,508 | ||||||
Maxvalu Tokai Co., Ltd. |
1,700 | 39,554 | ||||||
Mitsubishi Shokuhin Co., Ltd. |
2,100 | 54,940 | ||||||
Nihon Chouzai Co., Ltd. |
1,700 | 26,100 | ||||||
Okuwa Co., Ltd. |
2,700 | 28,700 | ||||||
Qol Holdings Co., Ltd. |
2,300 | 31,374 | ||||||
Retail Partners Co., Ltd.(a) |
1,600 | 17,810 | ||||||
San-A Co., Ltd. |
900 | 32,265 | ||||||
United Super Markets Holdings, Inc. |
4,000 | 39,471 | ||||||
Valor Holdings Co., Ltd. |
3,700 | 80,185 | ||||||
Yaoko Co., Ltd. |
1,100 | 67,829 | ||||||
Yokohama Reito Co., Ltd.(a) |
4,300 | 34,184 | ||||||
|
|
|||||||
Total Food & Staples Retailing |
|
1,147,306 | ||||||
Food Products – 3.0% | ||||||||
Ariake Japan Co., Ltd. |
800 | 50,477 | ||||||
DyDo Group Holdings, Inc. |
300 | 15,326 | ||||||
Feed One Co., Ltd. |
3,900 | 26,355 | ||||||
Fuji Oil Holdings, Inc. |
4,751 | 111,691 | ||||||
Fujicco Co., Ltd. |
1,200 | 20,822 | ||||||
Hokuto Corp. |
3,000 | 52,888 | ||||||
Itoham Yonekyu Holdings, Inc. |
21,300 | 139,741 | ||||||
J-Oil Mills, Inc. |
2,000 | 33,018 | ||||||
Kakiyasu Honten Co., Ltd. |
1,000 | 24,342 | ||||||
Kameda Seika Co., Ltd.(a) |
800 | 31,871 | ||||||
Kotobuki Spirits Co., Ltd. |
700 | 48,120 | ||||||
Kyokuyo Co., Ltd. |
1,200 | 32,480 | ||||||
Marudai Food Co., Ltd.(a) |
1,700 | 26,511 | ||||||
Maruha Nichiro Corp. |
2,000 | 47,609 | ||||||
Megmilk Snow Brand Co., Ltd. |
2,600 | 53,503 | ||||||
Mitsui DM Sugar Holdings Co., Ltd. |
1,700 | 30,778 | ||||||
Morinaga & Co., Ltd. |
2,100 | 77,638 | ||||||
Morinaga Milk Industry Co., Ltd. |
1,900 | 119,202 | ||||||
Nippn Corp. |
3,300 | 48,239 | ||||||
Nippon Suisan Kaisha Ltd. |
13,900 | 81,102 | ||||||
Nisshin Oillio Group Ltd. (The) |
1,900 | 51,768 | ||||||
Prima Meat Packers Ltd. |
3,000 | 76,308 | ||||||
Riken Vitamin Co., Ltd.(a) |
2,700 | 45,494 | ||||||
S Foods, Inc. |
1,100 | 30,415 | ||||||
Sakata Seed Corp. |
900 | 28,313 | ||||||
Showa Sangyo Co., Ltd.(a) |
2,100 | 52,587 | ||||||
|
|
|||||||
Total Food Products |
|
1,356,598 |
See Notes to Financial Statements.
WisdomTree Trust | 35 |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
Gas Utilities – 0.4% | ||||||||
Nippon Gas Co., Ltd. |
6,200 | $ | 85,519 | |||||
Saibu Gas Holdings Co., Ltd. |
2,200 | 48,821 | ||||||
Shizuoka Gas Co., Ltd.(a) |
3,300 | 39,928 | ||||||
|
|
|||||||
Total Gas Utilities |
|
174,268 | ||||||
Health Care Equipment & Supplies – 1.3% | ||||||||
Daiken Medical Co., Ltd. |
2,800 | 15,459 | ||||||
Eiken Chemical Co., Ltd. |
1,300 | 24,526 | ||||||
Hogy Medical Co., Ltd. |
1,300 | 37,226 | ||||||
Japan Lifeline Co., Ltd. |
4,200 | 51,646 | ||||||
Jeol Ltd. |
1,100 | 80,941 | ||||||
Mani, Inc. |
1,900 | 36,340 | ||||||
Menicon Co., Ltd. |
800 | 31,190 | ||||||
Nagaileben Co., Ltd. |
2,000 | 47,000 | ||||||
Nakanishi, Inc. |
3,100 | 70,655 | ||||||
Nihon Kohden Corp. |
3,000 | 102,173 | ||||||
Nipro Corp. |
3,123 | 32,524 | ||||||
Paramount Bed Holdings Co., Ltd. |
3,206 | 64,106 | ||||||
Taiko Pharmaceutical Co., Ltd.(a) |
1,300 | 10,649 | ||||||
|
|
|||||||
Total Health Care Equipment & Supplies |
|
604,435 | ||||||
Health Care Providers & Services – 1.3% | ||||||||
As One Corp. |
800 | 117,159 | ||||||
BML, Inc. |
1,300 | 49,402 | ||||||
France Bed Holdings Co., Ltd. |
3,300 | 27,388 | ||||||
H.U. Group Holdings, Inc.(a) |
3,800 | 103,365 | ||||||
Ship Healthcare Holdings, Inc. |
4,818 | 124,536 | ||||||
Solasto Corp. |
3,000 | 40,547 | ||||||
Toho Holdings Co., Ltd. |
3,300 | 53,947 | ||||||
Tokai Corp. |
1,200 | 23,597 | ||||||
Vital KSK Holdings, Inc.(a) |
4,700 | 33,573 | ||||||
WIN-Partners Co., Ltd. |
2,200 | 19,343 | ||||||
|
|
|||||||
Total Health Care Providers & Services |
|
592,857 | ||||||
Hotels, Restaurants & Leisure – 1.4% | ||||||||
Doutor Nichires Holdings Co., Ltd. |
1,200 | 19,004 | ||||||
Food & Life Cos Ltd. |
1,300 | 60,121 | ||||||
Fuji Kyuko Co., Ltd. |
500 | 21,533 | ||||||
Hiday Hidaka Corp.(a) |
2,022 | 31,968 | ||||||
Ichibanya Co., Ltd. |
1,300 | 53,130 | ||||||
KFC Holdings Japan Ltd. |
1,700 | 45,024 | ||||||
KOMEDA Holdings Co., Ltd. |
3,100 | 61,653 | ||||||
Koshidaka Holdings Co., Ltd.(a) |
6,200 | 37,675 | ||||||
Kyoritsu Maintenance Co., Ltd.(a) |
1,000 | 39,122 | ||||||
MOS Food Services, Inc.(a) |
1,000 | 29,352 | ||||||
Ohsho Food Service Corp. |
1,000 | 54,851 | ||||||
Resorttrust, Inc. |
3,800 | 75,063 | ||||||
Rock Field Co., Ltd.(a) |
1,700 | 26,237 | ||||||
Saizeriya Co., Ltd. |
1,200 | 31,362 | ||||||
St. Marc Holdings Co., Ltd. |
2,200 | 32,238 | ||||||
Tokyotokeiba Co., Ltd. |
1,000 | 39,435 | ||||||
|
|
|||||||
Total Hotels, Restaurants & Leisure |
|
657,768 | ||||||
Household Durables – 1.7% | ||||||||
ES-Con Japan Ltd.(a) |
6,800 | 49,305 | ||||||
FJ Next Co., Ltd.(a) |
3,700 | 34,621 | ||||||
Foster Electric Co., Ltd.(a) |
1,800 | 14,971 | ||||||
Fuji Corp., Ltd.(a) |
5,700 | 37,242 | ||||||
Hinokiya Group Co., Ltd. |
2,000 | 41,766 | ||||||
Hoosiers Holdings(a) |
7,800 | 47,398 | ||||||
Ki-Star Real Estate Co., Ltd. |
1,000 | 50,997 | ||||||
LEC, Inc.(a) |
2,300 | 22,366 | ||||||
Pressance Corp.(a) |
3,017 | 49,754 | ||||||
Sanei Architecture Planning Co., Ltd. |
1,300 | 23,524 | ||||||
Sangetsu Corp. |
4,900 | 66,709 | ||||||
Sumitomo Forestry Co., Ltd. |
6,800 | 130,667 | ||||||
Tama Home Co., Ltd.(a) |
3,000 | 72,973 | ||||||
Tamron Co., Ltd. |
2,800 | 66,954 | ||||||
Toa Corp. |
3,200 | 23,862 | ||||||
Zojirushi Corp.(a) |
2,200 | 35,413 | ||||||
|
|
|||||||
Total Household Durables |
|
768,522 | ||||||
Household Products – 0.2% | ||||||||
Earth Corp. |
1,000 | 61,035 | ||||||
ST Corp. |
1,300 | 20,728 | ||||||
|
|
|||||||
Total Household Products |
|
81,763 | ||||||
Independent Power & Renewable Electricity Producers – 0.9% |
| |||||||
Electric Power Development Co., Ltd. |
19,200 | 278,256 | ||||||
eRex Co., Ltd. |
1,300 | 28,988 | ||||||
West Holdings Corp. |
1,900 | 84,719 | ||||||
|
|
|||||||
Total Independent Power & Renewable Electricity Producers |
|
391,963 | ||||||
Industrial Conglomerates – 0.3% | ||||||||
Nisshinbo Holdings, Inc.(a) |
12,400 | 94,244 | ||||||
TOKAI Holdings Corp. |
8,300 | 66,727 | ||||||
|
|
|||||||
Total Industrial Conglomerates |
|
160,971 | ||||||
Interactive Media & Services – 0.3% | ||||||||
Dip Corp. |
3,100 | 118,360 | ||||||
MTI Ltd.(a) |
2,300 | 15,790 | ||||||
|
|
|||||||
Total Interactive Media & Services |
|
134,150 | ||||||
Internet & Direct Marketing Retail – 0.2% | ||||||||
ASKUL Corp. |
3,100 | 45,566 | ||||||
Belluna Co., Ltd. |
3,700 | 28,320 | ||||||
|
|
|||||||
Total Internet & Direct Marketing Retail |
|
73,886 | ||||||
IT Services – 2.9% | ||||||||
Bell System24 Holdings, Inc. |
3,100 | 46,399 | ||||||
Comture Corp. |
800 | 22,299 | ||||||
Digital Garage, Inc. |
800 | 36,782 | ||||||
DTS Corp. |
3,000 | 69,209 | ||||||
Future Corp. |
2,100 | 52,437 | ||||||
GMO Internet, Inc. |
2,100 | 53,942 | ||||||
ID Holdings Corp. |
2,250 | 18,674 | ||||||
Ines Corp. |
2,000 | 27,497 | ||||||
Infocom Corp.(a) |
1,700 | 36,385 | ||||||
Infomart Corp. |
2,300 | 20,923 | ||||||
Information Services International-Dentsu Ltd. |
2,700 | 101,999 | ||||||
Itfor, Inc. |
2,900 | 22,457 | ||||||
JBCC Holdings, Inc. |
2,000 | 28,824 |
See Notes to Financial Statements.
36 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
Kanematsu Electronics Ltd. |
2,700 | $ | 94,376 | |||||
Mitsubishi Research Institute, Inc. |
1,200 | 47,376 | ||||||
NEC Networks & System Integration Corp. |
6,800 | 128,717 | ||||||
NS Solutions Corp. |
3,800 | 129,249 | ||||||
NSD Co., Ltd. |
4,900 | 89,678 | ||||||
Relia, Inc. |
5,200 | 54,715 | ||||||
SB Technology Corp. |
800 | 21,797 | ||||||
TDC Soft, Inc.(a) |
2,100 | 25,277 | ||||||
TechMatrix Corp. |
1,300 | 23,524 | ||||||
TKC Corp. |
2,900 | 91,360 | ||||||
Transcosmos, Inc. |
1,700 | 55,841 | ||||||
Uchida Yoko Co., Ltd. |
200 | 9,805 | ||||||
|
|
|||||||
Total IT Services |
|
1,309,542 | ||||||
Leisure Products – 1.2% | ||||||||
Furyu Corp. |
3,200 | 51,108 | ||||||
GLOBERIDE, Inc. |
1,000 | 35,268 | ||||||
Heiwa Corp. |
9,900 | 185,977 | ||||||
Mizuno Corp. |
1,700 | 40,834 | ||||||
Sankyo Co., Ltd. |
7,800 | 194,624 | ||||||
Tomy Co., Ltd. |
4,700 | 48,064 | ||||||
|
|
|||||||
Total Leisure Products |
|
555,875 | ||||||
Machinery – 4.6% | ||||||||
Aichi Corp. |
4,200 | 28,759 | ||||||
Aida Engineering Ltd. |
4,200 | 39,713 | ||||||
Alinco, Inc. |
3,100 | 28,367 | ||||||
CKD Corp. |
1,100 | 23,582 | ||||||
DMG Mori Co., Ltd. |
5,800 | 109,684 | ||||||
Ebara Corp. |
3,000 | 149,227 | ||||||
Fujitec Co., Ltd. |
4,900 | 114,666 | ||||||
Furukawa Co., Ltd. |
3,800 | 41,789 | ||||||
Giken Ltd. |
1,200 | 53,291 | ||||||
Glory Ltd. |
2,800 | 62,738 | ||||||
Hitachi Zosen Corp. |
11,335 | 87,470 | ||||||
Japan Steel Works Ltd. (The) |
2,103 | 54,981 | ||||||
Juki Corp. |
3,200 | 23,977 | ||||||
Kitz Corp. |
4,300 | 30,407 | ||||||
Kyokuto Kaihatsu Kogyo Co., Ltd. |
2,100 | 30,848 | ||||||
Meidensha Corp. |
2,200 | 48,801 | ||||||
METAWATER Co., Ltd. |
2,100 | 35,535 | ||||||
Mitsubishi Logisnext Co., Ltd. |
2,800 | 29,085 | ||||||
Mitsuboshi Belting Ltd. |
2,000 | 37,446 | ||||||
Morita Holdings Corp. |
2,200 | 29,991 | ||||||
Nachi-Fujikoshi Corp. |
1,000 | 41,093 | ||||||
Nikkiso Co., Ltd. |
2,700 | 23,449 | ||||||
Nikko Co., Ltd.(a) |
4,300 | 25,667 | ||||||
Nissei ASB Machine Co., Ltd. |
300 | 10,352 | ||||||
Nitta Corp. |
900 | 22,158 | ||||||
Noritake Co., Ltd. |
1,000 | 44,992 | ||||||
Obara Group, Inc.(a) |
900 | 31,459 | ||||||
Oiles Corp. |
2,000 | 29,523 | ||||||
OKUMA Corp. |
900 | 43,881 | ||||||
Organo Corp. |
700 | 43,101 | ||||||
OSG Corp. |
3,700 | 63,969 | ||||||
Sansei Technologies, Inc. |
3,700 | 28,154 | ||||||
Shibaura Machine Co., Ltd. |
2,800 | 69,188 | ||||||
Shibuya Corp. |
900 | 24,844 | ||||||
Shinmaywa Industries Ltd. |
5,300 | 44,414 | ||||||
Shinwa Co., Ltd. |
1,900 | 41,482 | ||||||
Sodick Co., Ltd.(a) |
3,700 | 30,343 | ||||||
Star Micronics Co., Ltd. |
3,100 | 43,260 | ||||||
Sumitomo Heavy Industries Ltd. |
3,800 | 100,164 | ||||||
Takeuchi Manufacturing Co., Ltd. |
1,700 | 39,752 | ||||||
Takuma Co., Ltd. |
2,800 | 39,274 | ||||||
Technoflex Corp. |
1,700 | 15,419 | ||||||
Teikoku Electric Manufacturing Co., Ltd. |
2,700 | 34,242 | ||||||
Tocalo Co., Ltd. |
2,700 | 32,935 | ||||||
Tsubakimoto Chain Co. |
2,200 | 68,716 | ||||||
Tsugami Corp. |
1,700 | 25,963 | ||||||
Union Tool Co. |
800 | 28,286 | ||||||
YAMABIKO Corp. |
2,000 | 22,245 | ||||||
|
|
|||||||
Total Machinery |
|
2,128,682 | ||||||
Marine – 2.2% | ||||||||
Iino Kaiun Kaisha Ltd.(a) |
10,900 | 51,288 | ||||||
Mitsui OSK Lines Ltd.(a) |
3,800 | 257,477 | ||||||
Nippon Yusen K.K.(a) |
8,400 | 636,164 | ||||||
NS United Kaiun Kaisha Ltd.(a) |
2,000 | 73,762 | ||||||
|
|
|||||||
Total Marine |
|
1,018,691 | ||||||
Media – 1.1% | ||||||||
FAN Communications, Inc. |
8,900 | 36,134 | ||||||
Gakken Holdings Co., Ltd. |
1,300 | 14,226 | ||||||
Intage Holdings, Inc. |
4,700 | 68,957 | ||||||
Kadokawa Corp. |
2,200 | 122,447 | ||||||
Proto Corp. |
1,900 | 26,191 | ||||||
SKY Perfect JSAT Holdings, Inc. |
24,300 | 93,432 | ||||||
Tow Co., Ltd. |
8,700 | 26,979 | ||||||
Tv Tokyo Holdings Corp. |
1,100 | 21,956 | ||||||
ValueCommerce Co., Ltd. |
1,000 | 42,796 | ||||||
Wowow, Inc. |
2,300 | 50,236 | ||||||
Zenrin Co., Ltd. |
2,100 | 20,290 | ||||||
|
|
|||||||
Total Media |
|
523,644 | ||||||
Metals & Mining – 2.7% | ||||||||
Asahi Holdings, Inc. |
10,700 | 194,676 | ||||||
Daido Steel Co., Ltd. |
1,900 | 81,143 | ||||||
Daiki Aluminium Industry Co., Ltd.(a) |
5,700 | 84,804 | ||||||
Dowa Holdings Co., Ltd. |
3,900 | 154,497 | ||||||
Godo Steel Ltd. |
4,100 | 55,120 | ||||||
Kurimoto Ltd. |
1,900 | 27,944 | ||||||
Kyoei Steel Ltd. |
6,100 | 75,775 | ||||||
Maruichi Steel Tube Ltd. |
6,000 | 139,601 | ||||||
Mitsubishi Materials Corp. |
5,700 | 111,982 | ||||||
Mitsui Mining & Smelting Co., Ltd. |
3,100 | 87,103 | ||||||
Toho Titanium Co., Ltd. |
3,300 | 35,581 | ||||||
Tokyo Steel Manufacturing Co., Ltd.(a) |
11,800 | 122,045 | ||||||
Tokyo Tekko Co., Ltd.(a) |
1,200 | 17,165 | ||||||
UACJ Corp.* |
1,153 | 30,340 | ||||||
|
|
|||||||
Total Metals & Mining |
|
1,217,776 |
See Notes to Financial Statements.
WisdomTree Trust | 37 |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
Multiline Retail – 0.5% | ||||||||
Izumi Co., Ltd. |
3,200 | $ | 106,977 | |||||
MrMax Holdings Ltd.(a) |
2,300 | 14,079 | ||||||
Takashimaya Co., Ltd.(a) |
10,700 | 119,971 | ||||||
|
|
|||||||
Total Multiline Retail |
|
241,027 | ||||||
Oil, Gas & Consumable Fuels – 1.3% | ||||||||
Cosmo Energy Holdings Co., Ltd. |
9,100 | 207,243 | ||||||
Itochu Enex Co., Ltd.(a) |
12,200 | 110,109 | ||||||
Iwatani Corp. |
2,500 | 147,210 | ||||||
Sala Corp. |
5,700 | 32,951 | ||||||
San-Ai Oil Co., Ltd. |
4,000 | 53,273 | ||||||
Sinanen Holdings Co., Ltd. |
1,000 | 32,624 | ||||||
|
|
|||||||
Total Oil, Gas & Consumable Fuels |
|
583,410 | ||||||
Paper & Forest Products – 0.7% | ||||||||
Daiken Corp. |
2,000 | 42,124 | ||||||
Daio Paper Corp. |
4,800 | 90,214 | ||||||
Hokuetsu Corp.(a) |
14,700 | 90,644 | ||||||
Nippon Paper Industries Co., Ltd.(a) |
7,900 | 84,257 | ||||||
|
|
|||||||
Total Paper & Forest Products |
|
307,239 | ||||||
Personal Products – 0.6% | ||||||||
Kitanotatsujin Corp.(a) |
3,900 | 16,358 | ||||||
Mandom Corp. |
3,000 | 43,182 | ||||||
Milbon Co., Ltd. |
700 | 42,976 | ||||||
Noevir Holdings Co., Ltd. |
3,000 | 143,312 | ||||||
Shinnihonseiyaku Co., Ltd.(a) |
900 | 15,221 | ||||||
|
|
|||||||
Total Personal Products |
|
261,049 | ||||||
Pharmaceuticals – 2.1% | ||||||||
Fuji Pharma Co., Ltd. |
2,200 | 23,070 | ||||||
Kaken Pharmaceutical Co., Ltd. |
5,100 | 210,033 | ||||||
KYORIN Holdings, Inc. |
7,900 | 126,103 | ||||||
Mochida Pharmaceutical Co., Ltd. |
1,800 | 55,174 | ||||||
Nichi-iko Pharmaceutical Co., Ltd.(a) |
4,200 | 33,841 | ||||||
Sawai Group Holdings Co., Ltd. |
3,700 | 172,440 | ||||||
Seikagaku Corp. |
3,300 | 31,410 | ||||||
Towa Pharmaceutical Co., Ltd. |
2,700 | 76,711 | ||||||
Tsumura & Co. |
5,100 | 163,639 | ||||||
ZERIA Pharmaceutical Co., Ltd.(a) |
3,100 | 57,207 | ||||||
|
|
|||||||
Total Pharmaceuticals |
|
949,628 | ||||||
Professional Services – 2.4% | ||||||||
Altech Corp. |
2,650 | 48,974 | ||||||
BayCurrent Consulting, Inc. |
200 | 101,815 | ||||||
BeNext-Yumeshin Group Co. |
6,235 | 73,205 | ||||||
en Japan, Inc. |
2,800 | 102,012 | ||||||
Forum Engineering, Inc.(a) |
3,200 | 26,902 | ||||||
FULLCAST Holdings Co., Ltd. |
1,700 | 34,693 | ||||||
Funai Soken Holdings, Inc. |
1,840 | 50,133 | ||||||
IR Japan Holdings Ltd. |
300 | 33,260 | ||||||
JAC Recruitment Co., Ltd. |
4,000 | 78,692 | ||||||
Meitec Corp. |
2,300 | 127,600 | ||||||
Nexyz Group Corp. |
1,800 | 15,003 | ||||||
Nisso Corp. |
2,300 | 14,966 | ||||||
Nomura Co., Ltd. |
8,800 | 79,660 | ||||||
Outsourcing, Inc. |
4,300 | 78,042 | ||||||
SMS Co., Ltd. |
900 | 32,951 | ||||||
Tanseisha Co., Ltd.(a) |
4,900 | 38,866 | ||||||
TechnoPro Holdings, Inc. |
3,900 | 118,320 | ||||||
Weathernews, Inc. |
700 | 41,344 | ||||||
|
|
|||||||
Total Professional Services |
|
1,096,438 | ||||||
Real Estate Management & Development – 2.6% | ||||||||
Aoyama Zaisan Networks Co., Ltd. |
2,900 | 26,745 | ||||||
Daibiru Corp.(a) |
4,100 | 60,705 | ||||||
Goldcrest Co., Ltd. |
4,200 | 63,729 | ||||||
Heiwa Real Estate Co., Ltd. |
2,800 | 97,244 | ||||||
Ichigo, Inc. |
25,000 | 82,904 | ||||||
Katitas Co., Ltd. |
2,200 | 78,181 | ||||||
Keihanshin Building Co., Ltd. |
3,100 | 39,231 | ||||||
Nippon Commercial Development Co., Ltd.(a) |
2,300 | 35,951 | ||||||
Raysum Co., Ltd.(a) |
4,800 | 32,911 | ||||||
SAMTY Co., Ltd. |
4,200 | 88,423 | ||||||
Shinoken Group Co., Ltd. |
5,000 | 52,117 | ||||||
Star Mica Holdings Co., Ltd. |
1,100 | 15,212 | ||||||
Starts Corp., Inc. |
3,900 | 93,153 | ||||||
Sun Frontier Fudousan Co., Ltd. |
5,200 | 52,198 | ||||||
Takara Leben Co., Ltd. |
15,700 | 45,450 | ||||||
TOC Co., Ltd. |
4,000 | 23,661 | ||||||
Tokyo Tatemono Co., Ltd. |
16,500 | 262,344 | ||||||
Tosei Corp. |
4,000 | 43,236 | ||||||
|
|
|||||||
Total Real Estate Management & Development |
|
1,193,395 | ||||||
Road & Rail – 1.4% | ||||||||
Fukuyama Transporting Co., Ltd. |
1,000 | 43,737 | ||||||
Hamakyorex Co., Ltd. |
1,100 | 33,274 | ||||||
Ichinen Holdings Co., Ltd. |
1,900 | 22,376 | ||||||
Maruzen Showa Unyu Co., Ltd. |
1,100 | 35,393 | ||||||
Nikkon Holdings Co., Ltd. |
3,700 | 76,769 | ||||||
Nishi-Nippon Railroad Co., Ltd.(a) |
1,800 | 45,849 | ||||||
Sakai Moving Service Co., Ltd. |
300 | 13,068 | ||||||
Sankyu, Inc. |
2,700 | 125,351 | ||||||
Seino Holdings Co., Ltd. |
14,200 | 172,958 | ||||||
Senko Group Holdings Co., Ltd.(a) |
9,900 | 91,125 | ||||||
|
|
|||||||
Total Road & Rail |
|
659,900 | ||||||
Semiconductors & Semiconductor Equipment – 1.4% |
|
|||||||
Ferrotec Holdings Corp. |
2,000 | 57,181 | ||||||
Japan Material Co., Ltd.(a) |
3,200 | 37,428 | ||||||
Mimasu Semiconductor Industry Co., Ltd. |
1,300 | 28,604 | ||||||
Optorun Co., Ltd. |
2,800 | 58,698 | ||||||
Rorze Corp. |
300 | 21,618 | ||||||
SCREEN Holdings Co., Ltd. |
700 | 60,291 | ||||||
Shibaura Mechatronics Corp.(a) |
400 | 24,235 | ||||||
Shinko Electric Industries Co., Ltd.(a) |
3,700 | 124,024 | ||||||
Tokyo Seimitsu Co., Ltd. |
1,900 | 78,589 | ||||||
Ulvac, Inc. |
2,100 | 120,645 | ||||||
Yamaichi Electronics Co., Ltd. |
2,300 | 34,219 | ||||||
|
|
|||||||
Total Semiconductors & Semiconductor Equipment |
|
645,532 |
See Notes to Financial Statements.
38 | WisdomTree Trust |
Schedule of Investments (unaudited) (continued)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
Investments | Shares | Value | ||||||
Software – 0.8% |
|
|||||||
Broadleaf Co., Ltd. |
4,900 | $ | 25,208 | |||||
Computer Engineering & Consulting Ltd. |
2,100 | 24,863 | ||||||
Cresco Ltd. |
1,900 | 34,518 | ||||||
Cybernet Systems Co., Ltd. |
2,800 | 16,212 | ||||||
Digital Arts, Inc. |
200 | 16,240 | ||||||
Fuji Soft, Inc. |
700 | 36,827 | ||||||
Fukui Computer Holdings, Inc. |
800 | 31,046 | ||||||
Miroku Jyoho Service Co., Ltd. |
1,200 | 18,284 | ||||||
SRA Holdings |
2,200 | 58,029 | ||||||
Systena Corp. |
3,900 | 79,066 | ||||||
UNITED, Inc. |
1,300 | 19,341 | ||||||
|
|
|||||||
Total Software |
|
359,634 | ||||||
Specialty Retail – 2.9% |
|
|||||||
Adastria Co., Ltd. |
2,222 | 40,925 | ||||||
Alleanza Holdings Co., Ltd.(a) |
2,000 | 25,472 | ||||||
Alpen Co., Ltd. |
1,700 | 47,385 | ||||||
Arcland Sakamoto Co., Ltd.(a) |
1,300 | 20,343 | ||||||
Autobacs Seven Co., Ltd.(a) |
7,300 | 97,290 | ||||||
Bic Camera, Inc. |
6,900 | 65,862 | ||||||
Chiyoda Co., Ltd. |
5,900 | 45,000 | ||||||
DCM Holdings Co., Ltd. |
9,900 | 96,094 | ||||||
EDION Corp.(a) |
10,200 | 96,355 | ||||||
Geo Holdings Corp. |
2,000 | 22,604 | ||||||
Honeys Holdings Co., Ltd. |
2,800 | 27,780 | ||||||
Joshin Denki Co., Ltd. |
1,100 | 24,923 | ||||||
Joyful Honda Co., Ltd. |
6,200 | 86,242 | ||||||
Keiyo Co., Ltd.(a) |
3,300 | 23,987 | ||||||
Kohnan Shoji Co., Ltd. |
1,800 | 59,529 | ||||||
Kojima Co., Ltd.(a) |
3,700 | 22,417 | ||||||
Komeri Co., Ltd. |
2,300 | 55,719 | ||||||
Nafco Co., Ltd.(a) |
1,900 | 31,657 | ||||||
Nojima Corp. |
2,100 | 54,262 | ||||||
PAL GROUP Holdings Co., Ltd. |
4,300 | 71,837 | ||||||
PC Depot Corp.(a) |
3,700 | 15,553 | ||||||
T-Gaia Corp. |
4,700 | 83,701 | ||||||
VT Holdings Co., Ltd.(a) |
13,254 | 65,572 | ||||||
World Co., Ltd.*(a) |
3,100 | 41,620 | ||||||
Xebio Holdings Co., Ltd. |
4,900 | 49,889 | ||||||
Yellow Hat Ltd. |
3,000 | 52,539 | ||||||
|
|
|||||||
Total Specialty Retail |
|
1,324,557 | ||||||
Technology Hardware, Storage & Peripherals – 0.5% |
|
|||||||
Eizo Corp. |
1,200 | 45,978 | ||||||
Elecom Co., Ltd. |
3,800 | 61,066 | ||||||
MCJ Co., Ltd. |
7,800 | 84,100 | ||||||
Wacom Co., Ltd. |
5,100 | 32,636 | ||||||
|
|
|||||||
Total Technology Hardware, Storage & Peripherals |
|
223,780 | ||||||
Textiles, Apparel & Luxury Goods – 1.6% | ||||||||
Asics Corp. |
5,000 | 114,811 | ||||||
Baroque Japan Ltd. |
5,300 | 42,419 | ||||||
Fujibo Holdings, Inc. |
1,000 | 38,091 | ||||||
Gunze Ltd. |
1,200 | 47,000 | ||||||
Japan Wool Textile Co., Ltd. (The) |
7,300 | 66,539 | ||||||
Kurabo Industries Ltd. |
1,800 | 33,233 | ||||||
Onward Holdings Co., Ltd. |
37,839 | 122,767 | ||||||
Seiko Holdings Corp. |
5,000 | 101,411 | ||||||
Seiren Co., Ltd.(a) |
3,100 | 58,430 | ||||||
Wacoal Holdings Corp. |
2,800 | 59,551 | ||||||
Yondoshi Holdings, Inc. |
2,300 | 37,765 | ||||||
|
|
|||||||
Total Textiles, Apparel & Luxury Goods |
|
722,017 | ||||||
Thrifts & Mortgage Finance – 0.1% | ||||||||
Aruhi Corp. |
2,000 | 23,410 | ||||||
Trading Companies & Distributors – 3.2% | ||||||||
Advan Group Co., Ltd. |
2,000 | 17,549 | ||||||
Alconix Corp. |
2,000 | 29,039 | ||||||
Chori Co., Ltd. |
1,300 | 22,242 | ||||||
Gecoss Corp. |
4,000 | 31,620 | ||||||
Hanwa Co., Ltd. |
1,900 | 59,176 | ||||||
Inaba Denki Sangyo Co., Ltd. |
3,200 | 78,297 | ||||||
Inabata & Co., Ltd. |
4,300 | 66,750 | ||||||
Kamei Corp. |
2,200 | 24,825 | ||||||
Kanamoto Co., Ltd. |
2,200 | 51,739 | ||||||
Kanematsu Corp. |
10,000 | 124,670 | ||||||
Nagase & Co., Ltd. |
9,900 | 167,876 | ||||||
Nichiden Corp. |
1,200 | 25,597 | ||||||
Nippon Steel Trading Corp. |
2,096 | 95,055 | ||||||
Nishio Rent All Co., Ltd. |
1,800 | 47,559 | ||||||
Onoken Co., Ltd.(a) |
2,700 | 40,388 | ||||||
Sanyo Trading Co., Ltd. |
2,700 | 28,385 | ||||||
Sojitz Corp. |
23,200 | 382,595 | ||||||
Trusco Nakayama Corp. |
1,200 | 31,254 | ||||||
Wakita & Co., Ltd. |
3,300 | 32,120 | ||||||
Yamazen Corp. |
3,700 | 35,715 | ||||||
Yuasa Trading Co., Ltd. |
2,000 | 54,313 | ||||||
|
|
|||||||
Total Trading Companies & Distributors |
|
1,446,764 | ||||||
Transportation Infrastructure – 0.5% | ||||||||
Kamigumi Co., Ltd. |
4,900 | 103,423 | ||||||
Mitsubishi Logistics Corp. |
2,900 | 86,292 | ||||||
Nissin Corp. |
1,300 | 19,283 | ||||||
|
|
|||||||
Total Transportation Infrastructure |
|
208,998 | ||||||
Wireless Telecommunication Services – 0.2% |
|
|||||||
Okinawa Cellular Telephone Co. |
2,300 | 112,346 | ||||||
TOTAL COMMON STOCKS (Cost: $45,011,372) |
45,265,846 | |||||||
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.2% |
| |||||||
United States – 7.2% | ||||||||
State Street Navigator Securities Lending Government Money Market Portfolio, 0.03%(b) |
||||||||
(Cost: $3,297,773) | 3,297,773 | 3,297,773 | ||||||
TOTAL INVESTMENTS IN SECURITIES – 106.2% (Cost: $48,309,145) |
48,563,619 | |||||||
Other Assets less Liabilities – (6.2)% |
(2,856,213 | ) | ||||||
|
|
|||||||
NET ASSETS – 100.0% | $ | 45,707,406 |
See Notes to Financial Statements.
WisdomTree Trust | 39 |
Schedule of Investments (unaudited) (concluded)
WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
September 30, 2021
* |
Non-income producing security. |
(a) |
Security, or portion thereof, was on loan at September 30, 2021 (See Note 2). At September 30, 2021, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,239,562 and the total market value of the collateral held by the Fund was $5,522,764. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,224,991. |
(b) |
Rate shown represents annualized 7-day yield as of September 30, 2021. |
FINANCIAL DERIVATIVE INSTRUMENTS | ||||||||||||||||||||||||||||
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER) | ||||||||||||||||||||||||||||
Counterparty | Settlement Date |
Amount and Description of Currency to be Purchased |
Amount and Description of Currency to be Sold |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 1,237,492,455 | JPY | 11,091,067 | USD | $ | 128 | $ | — | |||||||||||||||||||
Bank of America N.A. |
10/5/2021 | 7,763,747 | USD | 852,700,873 | JPY | 121,299 | — | |||||||||||||||||||||
Bank of America N.A. |
11/4/2021 | 11,486,946 | USD | 1,281,412,476 | JPY | — | (237 | ) | ||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 1,237,486,686 | JPY | 11,091,065 | USD | 78 | — | |||||||||||||||||||||
Citibank N.A. |
10/5/2021 | 7,763,747 | USD | 852,696,991 | JPY | 121,334 | — | |||||||||||||||||||||
Citibank N.A. |
11/4/2021 | 11,486,944 | USD | 1,281,409,956 | JPY | — | (216 | ) | ||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 1,237,490,236 | JPY | 11,091,067 | USD | 108 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 7,763,747 | USD | 852,691,556 | JPY | 121,383 | — | |||||||||||||||||||||
Goldman Sachs |
10/5/2021 | 13,309,280 | USD | 1,453,226,973 | JPY | 284,535 | — | |||||||||||||||||||||
Goldman Sachs |
11/4/2021 | 11,486,946 | USD | 1,281,407,881 | JPY | — | (196 | ) | ||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 1,237,489,127 | JPY | 11,091,067 | USD | 98 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
10/5/2021 | 7,763,745 | USD | 852,695,995 | JPY | 121,341 | — | |||||||||||||||||||||
JP Morgan Chase Bank N.A. |
11/4/2021 | 11,486,946 | USD | 1,281,412,476 | JPY | — | (237 | ) | ||||||||||||||||||||
$ | 770,304 | $ | (886 | ) |
FAIR VALUATION SUMMARY |
The following is a summary of the fair valuations according to the inputs used as of September 30, 2021 in valuing the Fund’s investments (See Note 2 – Fair Value Measurement):
Quoted Prices in Markets |
Other Significant Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Total | |||||||||||||
Assets: |
|
|||||||||||||||
Investments in Securities |
||||||||||||||||
Common Stocks |
||||||||||||||||
Banks |
$ | 2,879,948 | $ | 117,095 | $ | — | $ | 2,997,043 | ||||||||
Construction & Engineering |
2,751,293 | 207,622 | — | 2,958,915 | ||||||||||||
Food & Staples Retailing |
1,080,113 | 67,193 | — | 1,147,306 | ||||||||||||
Other |
38,162,582 | — | — | 38,162,582 | ||||||||||||
Investment of Cash Collateral for Securities Loaned |
— | 3,297,773 | — | 3,297,773 | ||||||||||||
Total Investments in Securities |
$ | 44,873,936 | $ | 3,689,683 | $ | — | $ | 48,563,619 | ||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | 770,304 | $ | — | $ | 770,304 | ||||||||
Liabilities: |
||||||||||||||||
Financial Derivative Instruments |
||||||||||||||||
Foreign Currency Contracts1 |
$ | — | $ | (886 | ) | $ | — | $ | (886 | ) | ||||||
Total – Net |
$ | 44,873,936 | $ | 4,459,101 | $ | — | $ | 49,333,037 |
1 |
Amount shown represents the unrealized appreciation (depreciation) on the financial instrument. |
See Notes to Financial Statements.
40 | WisdomTree Trust |
Statements of Assets and Liabilities (unaudited)
WisdomTree Trust
September 30, 2021
WisdomTree Europe Hedged Equity Fund |
WisdomTree Europe Hedged SmallCap Equity Fund |
WisdomTree Germany Hedged Equity Fund |
WisdomTree International Hedged Quality Dividend Growth Fund |
WisdomTree Japan Hedged Equity Fund |
WisdomTree Japan Hedged SmallCap Equity Fund |
|||||||||||||||||||
ASSETS: |
| |||||||||||||||||||||||
Investments, at cost |
$ | 1,720,086,270 | $ | 48,127,403 | $ | 27,538,331 | $ | 842,142,481 | $ | 1,773,698,470 | $ | 48,309,145 | ||||||||||||
Investment in affiliates, at cost (Note 3) |
— | — | — | 882,631 | — | — | ||||||||||||||||||
Foreign currency, at cost |
1,912,521 | 14,315 | 29,744 | 163,202 | 751,619 | 43,548 | ||||||||||||||||||
Investments in securities, at value1,2 (Note 2) |
2,078,508,668 | 53,967,255 | 31,064,878 | 1,048,195,309 | 1,846,057,607 | 48,563,619 | ||||||||||||||||||
Investment in affiliates, at value (Note 3) |
— | — | — | 1,169,894 | — | — | ||||||||||||||||||
Cash |
927,472 | 1,483 | 1,276 | 554,730 | 2,501,942 | 47,446 | ||||||||||||||||||
Foreign currency, at value |
1,873,396 | 14,234 | 29,014 | 163,212 | 746,943 | 43,510 | ||||||||||||||||||
Unrealized appreciation on foreign currency contracts |
40,451,374 | 1,045,530 | 615,948 | 18,645,763 | 28,538,246 | 770,304 | ||||||||||||||||||
Receivables: |
| |||||||||||||||||||||||
Dividends |
415,185 | 22,521 | — | 3,008,240 | 16,828,467 | 407,458 | ||||||||||||||||||
Securities lending income |
10,788 | 1,194 | — | 11,166 | 6,941 | 1,231 | ||||||||||||||||||
Foreign tax reclaims |
4,441,987 | 150,040 | 420,554 | 2,549,574 | — | — | ||||||||||||||||||
Total Assets |
2,126,628,870 | 55,202,257 | 32,131,670 | 1,074,297,888 | 1,894,680,146 | 49,833,568 | ||||||||||||||||||
LIABILITIES: |
| |||||||||||||||||||||||
Unrealized depreciation on foreign currency contracts |
26,303 | 685 | 409 | 52,895 | 1,159,957 | 886 | ||||||||||||||||||
Payables: |
| |||||||||||||||||||||||
Cash collateral received for securities loaned (Note 2) |
32,724,682 | 905,426 | — | 5,433,597 | 11,800,278 | 3,297,773 | ||||||||||||||||||
Investment securities purchased |
37,361,945 | 974,204 | 546,091 | 15,318,834 | 27,976,043 | 810,110 | ||||||||||||||||||
Advisory fees (Note 3) |
1,006,475 | 26,120 | 12,682 | 516,989 | 718,994 | 17,263 | ||||||||||||||||||
Service fees (Note 2) |
7,635 | 198 | 117 | 3,922 | 6,590 | 130 | ||||||||||||||||||
Total Liabilities |
71,127,040 | 1,906,633 | 559,299 | 21,326,237 | 41,661,862 | 4,126,162 | ||||||||||||||||||
NET ASSETS |
$ | 2,055,501,830 | $ | 53,295,624 | $ | 31,572,371 | $ | 1,052,971,651 | $ | 1,853,018,284 | $ | 45,707,406 | ||||||||||||
NET ASSETS: |
| |||||||||||||||||||||||
Paid-in capital |
$ | 3,861,220,461 | $ | 72,392,895 | $ | 61,662,514 | $ | 877,501,818 | $ | 3,492,375,096 | $ | 68,562,034 | ||||||||||||
Total distributable earnings (loss) |
(1,805,718,631 | ) | (19,097,271 | ) | (30,090,143 | ) | 175,469,833 | (1,639,356,812 | ) | (22,854,628 | ) | |||||||||||||
NET ASSETS |
$ | 2,055,501,830 | $ | 53,295,624 | $ | 31,572,371 | $ | 1,052,971,651 | $ | 1,853,018,284 | $ | 45,707,406 | ||||||||||||
Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized) |
27,000,000 | 1,500,000 | 900,000 | 24,300,000 | 29,150,000 | 1,000,000 | ||||||||||||||||||
Net asset value per share |
$ | 76.13 | $ | 35.53 | $ | 35.08 | $ | 43.33 | $ | 63.57 | $ | 45.71 | ||||||||||||
1 Includes market value of securities out on loan of: |
$ | 38,470,136 | $ | 939,713 | — | $ | 52,958,251 | $ | 25,833,872 | $ | 5,239,562 | |||||||||||||
2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information). |
|
See Notes to Financial Statements.
WisdomTree Trust | 41 |
Statements of Operations (unaudited)
WisdomTree Trust
For the Six Months Ended September 30, 2021
WisdomTree Europe Hedged Equity Fund |
WisdomTree Europe Hedged SmallCap Equity Fund |
WisdomTree Germany Hedged Equity Fund |
WisdomTree International Hedged Quality Dividend Growth Fund |
WisdomTree Japan Hedged Equity Fund |
WisdomTree Japan Hedged SmallCap Equity Fund |
|||||||||||||||||||
INVESTMENT INCOME: |
| |||||||||||||||||||||||
Dividends1 |
$ | 27,415,693 | $ | 759,259 | $ | 696,251 | $ | 19,629,361 | $ | 22,631,473 | $ | 488,211 | ||||||||||||
Dividends from affiliates (Note 3) |
— | — | — | 19,816 | — | — | ||||||||||||||||||
Non-cash dividends |
3,206,159 | 52,379 | — | 17,804 | — | — | ||||||||||||||||||
Other income (Note 6) |
91,988 | 57,309 | — | — | — | — | ||||||||||||||||||
Securities lending income, net (Note 2) |
260,950 | 12,894 | — | 42,577 | 93,093 | 4,132 | ||||||||||||||||||
Total investment income |
30,974,790 | 881,841 | 696,251 | 19,709,558 | 22,724,566 | 492,343 | ||||||||||||||||||
EXPENSES: |
| |||||||||||||||||||||||
Advisory fees (Note 3) |
5,906,364 | 132,075 | 77,377 | 2,931,956 | 4,306,986 | 91,812 | ||||||||||||||||||
Service fees (Note 2) |
44,806 | 1,002 | 710 | 22,242 | 39,481 | 697 | ||||||||||||||||||
Other fees (Note 6) |
26,950 | 17,358 | — | — | — | — | ||||||||||||||||||
Total expenses |
5,978,120 | 150,435 | 78,087 | 2,954,198 | 4,346,467 | 92,509 | ||||||||||||||||||
Expense waivers (Note 3) |
— | — | — | (1,861 | ) | — | — | |||||||||||||||||
Net expenses |
5,978,120 | 150,435 | 78,087 | 2,952,337 | 4,346,467 | 92,509 | ||||||||||||||||||
Net investment income |
24,996,670 | 731,406 | 618,164 | 16,757,221 | 18,378,099 | 399,834 | ||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: |
| |||||||||||||||||||||||
Net realized gain (loss) from: |
| |||||||||||||||||||||||
Investment transactions |
(4,018,119 | ) | 125,919 | (201,826 | ) | (836,685 | ) | (9,159,679 | ) | (451,599 | ) | |||||||||||||
Investment transactions in affiliates (Note 3) |
— | — | — | 110,708 | — | — | ||||||||||||||||||
In-kind redemptions |
9,102,936 | — | — | — | 59,617,475 | — | ||||||||||||||||||
Foreign currency contracts |
57,115,781 | 1,182,199 | 899,198 | 26,159,208 | 51,087,116 | 900,317 | ||||||||||||||||||
Foreign currency related transactions |
(228,433 | ) | (7,078 | ) | (4,014 | ) | (374,510 | ) | 185,640 | 1,706 | ||||||||||||||
Net realized gain |
61,972,165 | 1,301,040 | 693,358 | 25,058,721 | 101,730,552 | 450,424 | ||||||||||||||||||
Net increase (decrease) in unrealized appreciation/depreciation: |
| |||||||||||||||||||||||
Investment transactions |
50,798,147 | 597,719 | (177,748 | ) | 27,510,279 | (443,625 | ) | 236,779 | ||||||||||||||||
Investment transactions in affiliates (Note 3) |
— | — | — | (74,269 | ) | — | — | |||||||||||||||||
Foreign currency contracts |
(18,901,684 | ) | (118,641 | ) | (325,115 | ) | (4,524,868 | ) | (29,526,008 | ) | (297,332 | ) | ||||||||||||
Translation of assets and liabilities denominated in foreign currencies |
(182,889 | ) | (5,568 | ) | (11,105 | ) | 57,697 | 74,352 | 2,389 | |||||||||||||||
Net increase (decrease) in unrealized appreciation/depreciation |
31,713,574 | 473,510 | (513,968 | ) | 22,968,839 | (29,895,281 | ) | (58,164 | ) | |||||||||||||||
Net realized and unrealized gain on investments |
93,685,739 | 1,774,550 | 179,390 | 48,027,560 | 71,835,271 | 392,260 | ||||||||||||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 118,682,409 | $ | 2,505,956 | $ | 797,554 | $ | 64,784,781 | $ | 90,213,370 | $ | 792,094 | ||||||||||||
1 Net of foreign withholding tax of: |
$ | 3,889,519 | $ | 144,755 | $ | 109,756 | $ | 733,245 | $ | 2,516,610 | $ | 54,275 |
See Notes to Financial Statements.
42 | WisdomTree Trust |
Statements of Changes in Net Assets
WisdomTree Trust
WisdomTree Europe Hedged Equity Fund |
WisdomTree Europe Hedged SmallCap Equity Fund |
WisdomTree Germany Hedged Equity Fund |
||||||||||||||||||||||
For the Six Months
Ended |
For the Year Ended March 31, 2021 |
For the Six
Months Ended |
For
the Year Ended March 31, 2021 |
For the Six
Months Ended |
For
the Year Ended March 31, 2021 |
|||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS: |
| |||||||||||||||||||||||
Net investment income |
$ | 24,996,670 | $ | 54,377,375 | $ | 731,406 | $ | 1,365,252 | $ | 618,164 | $ | 1,037,775 | ||||||||||||
Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions |
61,972,165 | (582,339,314 | ) | 1,301,040 | (14,664,028 | ) | 693,358 | (5,635,798 | ) | |||||||||||||||
Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies |
31,713,574 | 1,251,892,332 | 473,510 | 29,161,949 | (513,968 | ) | 19,346,445 | |||||||||||||||||
Net increase in net assets resulting from operations |
118,682,409 | 723,930,393 | 2,505,956 | 15,863,173 | 797,554 | 14,748,422 | ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS: |
| |||||||||||||||||||||||
Distributable earnings |
(30,069,750 | ) | (53,199,944 | ) | (826,500 | ) | (1,413,257 | ) | (684,000 | ) | (1,043,996 | ) | ||||||||||||
CAPITAL SHARE TRANSACTIONS: |
| |||||||||||||||||||||||
Net proceeds from sale of shares |
55,365,070 | 42,516,333 | 14,263,171 | — | — | — | ||||||||||||||||||
Cost of shares redeemed |
(26,143,851 | ) | (975,850,079 | ) | — | (26,293,657 | ) | — | (11,867,822 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from capital share transactions |
29,221,219 | (933,333,746 | ) | 14,263,171 | (26,293,657 | ) | — | (11,867,822 | ) | |||||||||||||||
Net Increase (Decrease) in Net Assets |
117,833,878 | (262,603,297 | ) | 15,942,627 | (11,843,741 | ) | 113,554 | 1,836,604 | ||||||||||||||||
NET ASSETS: |
| |||||||||||||||||||||||
Beginning of period |
$ | 1,937,667,952 | $ | 2,200,271,249 | $ | 37,352,997 | $ | 49,196,738 | $ | 31,458,817 | $ | 29,622,213 | ||||||||||||
End of period |
$ | 2,055,501,830 | $ | 1,937,667,952 | $ | 53,295,624 | $ | 37,352,997 | $ | 31,572,371 | $ | 31,458,817 | ||||||||||||
SHARES CREATED AND REDEEMED: |
| |||||||||||||||||||||||
Shares outstanding, beginning of period |
26,650,000 | 42,450,000 | 1,100,000 | 2,100,000 | 900,000 | 1,300,000 | ||||||||||||||||||
Shares created |
700,000 | 650,000 | 400,000 | — | — | — | ||||||||||||||||||
Shares redeemed |
(350,000 | ) | (16,450,000 | ) | — | (1,000,000 | ) | — | (400,000 | ) | ||||||||||||||
Shares outstanding, end of period |
27,000,000 | 26,650,000 | 1,500,000 | 1,100,000 | 900,000 | 900,000 |
See Notes to Financial Statements.
WisdomTree Trust | 43 |
Statements of Changes in Net Assets (concluded)
WisdomTree Trust
WisdomTree International Hedged Quality Dividend Growth Fund |
WisdomTree Japan Hedged Equity Fund |
WisdomTree Japan Hedged SmallCap Equity Fund |
||||||||||||||||||||||
For the Six Months Ended (unaudited) |
For the Year Ended March 31, 2021 |
For the Six Months Ended (unaudited) |
For the Year Ended March 31, 2021 |
For the Six Months Ended (unaudited) |
For
the Year Ended March 31, 2021 |
|||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS: |
| |||||||||||||||||||||||
Net investment income |
$ | 16,757,221 | $ | 18,842,679 | $ | 18,378,099 | $ | 32,351,041 | $ | 399,834 | $ | 545,208 | ||||||||||||
Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions |
25,058,721 | (8,931,167 | ) | 101,730,552 | (47,209,430 | ) | 450,424 | (3,219,356 | ) | |||||||||||||||
Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies |
22,968,839 | 231,873,633 | (29,895,281 | ) | 630,004,213 | (58,164 | ) | 12,647,009 | ||||||||||||||||
Net increase from payment by affiliate |
— | 1,756,103 | — | 22,753 | — | — | ||||||||||||||||||
Net increase in net assets resulting from operations |
64,784,781 | 243,541,248 | 90,213,370 | 615,168,577 | 792,094 | 9,972,861 | ||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS: |
| |||||||||||||||||||||||
Distributable earnings |
(20,186,750 | ) | (20,307,783 | ) | (16,457,510 | ) | (43,598,753 | ) | (342,171 | ) | (1,037,117 | ) | ||||||||||||
CAPITAL SHARE TRANSACTIONS: |
| |||||||||||||||||||||||
Net proceeds from sale of shares |
108,882,564 | 167,467,543 | 380,219,670 | 234,513,759 | 13,925,653 | — | ||||||||||||||||||
Cost of shares redeemed |
— | (83,555,794 | ) | (275,715,977 | ) | (841,125,421 | ) | — | (21,653,342 | ) | ||||||||||||||
Net increase (decrease) in net assets resulting from capital share transactions |
108,882,564 | 83,911,749 | 104,503,693 | (606,611,662 | ) | 13,925,653 | (21,653,342 | ) | ||||||||||||||||
Net Increase (Decrease) in Net Assets |
153,480,595 | 307,145,214 | 178,259,553 | (35,041,838 | ) | 14,375,576 | (12,717,598 | ) | ||||||||||||||||
NET ASSETS: |
| |||||||||||||||||||||||
Beginning of period |
$ | 899,491,056 | $ | 592,345,842 | $ | 1,674,758,731 | $ | 1,709,800,569 | $ | 31,331,830 | $ | 44,049,428 | ||||||||||||
End of period |
$ | 1,052,971,651 | $ | 899,491,056 | $ | 1,853,018,284 | $ | 1,674,758,731 | $ | 45,707,406 | $ | 31,331,830 | ||||||||||||
SHARES CREATED AND REDEEMED: |
| |||||||||||||||||||||||
Shares outstanding, beginning of period |
21,850,000 | 19,350,000 | 27,450,000 | 40,100,000 | 700,000 | 1,300,000 | ||||||||||||||||||
Shares created |
2,450,000 | 4,750,000 | 6,200,000 | 4,200,000 | 300,000 | — | ||||||||||||||||||
Shares redeemed |
— | (2,250,000 | ) | (4,500,000 | ) | (16,850,000 | ) | — | (600,000 | ) | ||||||||||||||
Shares outstanding, end of period |
24,300,000 | 21,850,000 | 29,150,000 | 27,450,000 | 1,000,000 | 700,000 |
See Notes to Financial Statements.
44 | WisdomTree Trust |
WisdomTree Trust
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Europe Hedged Equity Fund |
For the Six Months Ended (unaudited) |
For the Year Ended March 31, 2021 |
For the Year Ended March 31, 2020 |
For the Year Ended March 31, 2019 |
For the Year Ended March 31, 2018 |
For the Year Ended March 31, 2017 |
||||||||||||||||||
Net asset value, beginning of period |
$ | 72.71 | $ | 51.83 | $ | 63.90 | $ | 62.67 | $ | 62.80 | $ | 52.04 | ||||||||||||
Investment operations: |
| |||||||||||||||||||||||
Net investment income1 |
0.95 | 1.76 | 1.52 | 1.79 | 1.23 | 1.70 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
3.61 | 20.86 | (12.21 | ) | 0.90 | 0.08 | 10.59 | |||||||||||||||||
Total from investment operations |
4.56 | 22.62 | (10.69 | ) | 2.69 | 1.31 | 12.29 | |||||||||||||||||
Dividends and distributions to shareholders: |
| |||||||||||||||||||||||
Net investment income |
(1.14 | ) | (1.74 | ) | (1.38 | ) | (1.29 | ) | (1.44 | ) | (1.53 | ) | ||||||||||||
Tax return of capital |
— | — | — | (0.17 | ) | — | — | |||||||||||||||||
Total dividends and distributions to shareholders |
(1.14 | ) | (1.74 | ) | (1.38 | ) | (1.46 | ) | (1.44 | ) | (1.53 | ) | ||||||||||||
Net asset value, end of period |
$ | 76.13 | $ | 72.71 | $ | 51.83 | $ | 63.90 | $ | 62.67 | $ | 62.80 | ||||||||||||
TOTAL RETURN2 |
6.26 | % | 44.22 | % | (17.15 | )% | 4.33 | % | 2.03 | % | 24.20 | % | ||||||||||||
RATIOS/SUPPLEMENTAL DATA: |
| |||||||||||||||||||||||
Net assets, end of period (000’s omitted) |
$ | 2,055,502 | $ | 1,937,668 | $ | 2,200,271 | $ | 3,744,358 | $ | 6,332,946 | $ | 9,300,174 | ||||||||||||
Ratios to average net assets of: |
| |||||||||||||||||||||||
Expenses |
0.59 | %3,5 | 0.58 | % | 0.58 | % | 0.58 | % | 0.58 | % | 0.58 | % | ||||||||||||
Net investment income |
2.45 | %3 | 2.81 | % | 2.29 | % | 2.86 | % | 1.91 | % | 3.13 | % | ||||||||||||
Portfolio turnover rate4 |
4 | % | 55 | % | 26 | % | 18 | % | 20 | % | 24 | % |
WisdomTree Europe Hedged SmallCap Equity Fund |
For the Six Months Ended (unaudited) |
For the Year Ended March 31, 2021 |
For the Year Ended March 31, 2020 |
For the Year Ended March 31, 2019 |
For the Year Ended March 31, 2018 |
For the Year Ended March 31, 2017 |
||||||||||||||||||
Net asset value, beginning of period |
$ | 33.96 | $ | 23.43 | $ | 30.17 | $ | 30.62 | $ | 28.29 | $ | 23.90 | ||||||||||||
Investment operations: |
| |||||||||||||||||||||||
Net investment income1 |
0.58 | 1.02 | 1.22 | 1.06 | 0.74 | 0.81 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
1.71 | 10.56 | (6.92 | ) | (0.89 | ) | 2.05 | 4.25 | ||||||||||||||||
Total from investment operations |
2.29 | 11.58 | (5.70 | ) | 0.17 | 2.79 | 5.06 | |||||||||||||||||
Dividends and distributions to shareholders: |
| |||||||||||||||||||||||
Net investment income |
(0.72 | ) | (1.05 | ) | (1.04 | ) | (0.62 | ) | (0.45 | ) | (0.67 | ) | ||||||||||||
Tax return of capital |
— | — | — | — | (0.01 | ) | — | |||||||||||||||||
Total dividends and distributions to shareholders |
(0.72 | ) | (1.05 | ) | (1.04 | ) | (0.62 | ) | (0.46 | ) | (0.67 | ) | ||||||||||||
Net asset value, end of period |
$ | 35.53 | $ | 33.96 | $ | 23.43 | $ | 30.17 | $ | 30.62 | $ | 28.29 | ||||||||||||
TOTAL RETURN2 |
6.75 | % | 50.50 | % | (19.62 | )% | 0.54 | % | 9.88 | % | 21.62 | % | ||||||||||||
RATIOS/SUPPLEMENTAL DATA: |
| |||||||||||||||||||||||
Net assets, end of period (000’s omitted) |
$ | 53,296 | $ | 37,353 | $ | 49,197 | $ | 120,671 | $ | 154,624 | $ | 155,594 | ||||||||||||
Ratios to average net assets of: |
| |||||||||||||||||||||||
Expenses |
0.62 | %3,5 | 0.58 | % | 0.58 | % | 0.58 | % | 0.58 | % | 0.58 | % | ||||||||||||
Net investment income |
3.21 | %3 | 3.59 | % | 3.99 | % | 3.55 | % | 2.43 | % | 3.27 | % | ||||||||||||
Portfolio turnover rate4 |
7 | % | 77 | % | 49 | % | 37 | % | 37 | % | 41 | % |
1 |
Based on average shares outstanding. |
2 |
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. |
3 |
Annualized. |
4 |
Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation. |
5 |
Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58%. |
See Notes to Financial Statements.
WisdomTree Trust | 45 |
Financial Highlights (continued)
WisdomTree Trust
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Germany Hedged Equity Fund |
For the Six Months Ended (unaudited) |
For the Year Ended March 31, 2021 |
For the Year Ended March 31, 2020 |
For the Year Ended March 31, 2019 |
For the Year Ended March 31, 2018 |
For the Year Ended March 31, 2017 |
||||||||||||||||||
Net asset value, beginning of period |
$ | 34.95 | $ | 22.79 | $ | 28.63 | $ | 30.95 | $ | 30.40 | $ | 25.54 | ||||||||||||
Investment operations: |
| |||||||||||||||||||||||
Net investment income1 |
0.69 | 0.98 | 0.88 | 1.10 | 0.87 | 0.84 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
0.20 | 12.16 | (5.87 | ) | (2.64 | ) | 0.54 | 4.99 | ||||||||||||||||
Total from investment operations |
0.89 | 13.14 | (4.99 | ) | (1.54 | ) | 1.41 | 5.83 | ||||||||||||||||
Dividends and distributions to shareholders: |
| |||||||||||||||||||||||
Net investment income |
(0.76 | ) | (0.98 | ) | (0.85 | ) | (0.59 | ) | (0.64 | ) | (0.97 | ) | ||||||||||||
Tax return of capital |
— | — | — | (0.19 | ) | (0.22 | ) | — | ||||||||||||||||
Total dividends and distributions to shareholders |
(0.76 | ) | (0.98 | ) | (0.85 | ) | (0.78 | ) | (0.86 | ) | (0.97 | ) | ||||||||||||
Net asset value, end of period |
$ | 35.08 | $ | 34.95 | $ | 22.79 | $ | 28.63 | $ | 30.95 | $ | 30.40 | ||||||||||||
TOTAL RETURN2 |
2.51 | % | 58.59 | % | (18.06 | )% | (5.07 | )% | 4.63 | % | 23.62 | % | ||||||||||||
RATIOS/SUPPLEMENTAL DATA: |
| |||||||||||||||||||||||
Net assets, end of period (000’s omitted) |
$ | 31,572 | $ | 31,459 | $ | 29,622 | $ | 51,541 | $ | 91,302 | $ | 124,648 | ||||||||||||
Ratios to average net assets of: |
| |||||||||||||||||||||||
Expenses |
0.48 | %3 | 0.48 | % | 0.48 | % | 0.48 | % | 0.48 | % | 0.48 | % | ||||||||||||
Net investment income |
3.83 | %3 | 3.38 | % | 2.95 | % | 3.66 | % | 2.78 | % | 3.14 | % | ||||||||||||
Portfolio turnover rate4 |
5 | % | 46 | % | 41 | % | 16 | % | 20 | % | 28 | % |
WisdomTree International Hedged
Quality Dividend Growth Fund |
For the Six Months Ended (unaudited) |
For
the Year Ended March 31, 2021 |
For
the Year Ended March 31, 2020 |
For
the Year Ended March 31, 2019 |
For
the Year Ended March 31, 2018 |
For
the Year Ended March 31, 2017 |
||||||||||||||||||
Net asset value, beginning of period |
$ | 41.17 | $ | 30.61 | $ | 32.14 | $ | 30.78 | $ | 28.39 | $ | 25.73 | ||||||||||||
Investment operations: |
| |||||||||||||||||||||||
Net investment income1 |
0.73 | 0.88 | 0.78 | 0.64 | 0.58 | 0.56 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
2.29 | 10.54 | (1.59 | ) | 0.83 | 1.99 | 2.80 | |||||||||||||||||
Net increase from payment by affiliate |
— | 0.08 | — | — | — | — | ||||||||||||||||||
Total from investment operations |
3.02 | 11.50 | (0.81 | ) | 1.47 | 2.57 | 3.36 | |||||||||||||||||
Dividends to shareholders: |
| |||||||||||||||||||||||
Net investment income |
(0.86 | ) | (0.94 | ) | (0.72 | ) | (0.11 | ) | (0.18 | ) | (0.70 | ) | ||||||||||||
Net asset value, end of period |
$ | 43.33 | $ | 41.17 | $ | 30.61 | $ | 32.14 | $ | 30.78 | $ | 28.39 | ||||||||||||
TOTAL RETURN2 |
7.29 | % | 37.85 | %5 | (2.70 | )% | 4.78 | % | 9.05 | % | 13.26 | % | ||||||||||||
RATIOS/SUPPLEMENTAL DATA: |
| |||||||||||||||||||||||
Net assets, end of period (000’s omitted) |
$ | 1,052,972 | $ | 899,491 | $ | 592,346 | $ | 438,708 | $ | 543,192 | $ | 479,727 | ||||||||||||
Ratios to average net assets of: |
| |||||||||||||||||||||||
Expenses |
0.58 | %3,6,7 | 0.58 | %6,7 | 0.58 | %6,7 | 0.58 | % | 0.58 | % | 0.58 | % | ||||||||||||
Net investment income |
3.31 | %3,6 | 2.37 | %6 | 2.32 | %6 | 2.07 | % | 1.89 | % | 2.14 | % | ||||||||||||
Portfolio turnover rate4 |
2 | % | 67 | % | 61 | % | 56 | % | 42 | % | 53 | % |
1 |
Based on average shares outstanding. |
2 |
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. For the periods in which the investment advisor waived advisory fees for the WisdomTree International Hedged Quality Dividend Growth Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3). |
3 |
Annualized. |
4 |
Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation. |
5 |
Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been 0.27% lower. |
6 |
The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests. |
7 |
The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged. |
See Notes to Financial Statements.
46 | WisdomTree Trust |
Financial Highlights (concluded)
WisdomTree Trust
Selected data for a share of beneficial interest outstanding throughout the period is presented below:
WisdomTree Japan Hedged Equity Fund |
For the Six Months Ended (unaudited) |
For the Year Ended March 31, 2021 |
For the Year Ended March 31, 2020 |
For the Year Ended March 31, 2019 |
For the Year Ended March 31, 2018 |
For the Year Ended March 31, 2017 |
||||||||||||||||||
Net asset value, beginning of period |
$ | 61.01 | $ | 42.64 | $ | 50.42 | $ | 55.76 | $ | 50.40 | $ | 43.85 | ||||||||||||
Investment operations: |
| |||||||||||||||||||||||
Net investment income1 |
0.63 | 1.02 | 1.05 | 1.06 | 0.92 | 0.86 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
2.47 | 18.73 | (7.52 | ) | (5.03 | ) | 5.81 | 6.67 | ||||||||||||||||
Net increase from payment by affiliate |
— | 0.00 | 2 | — | — | — | — | |||||||||||||||||
Total from investment operations |
3.10 | 19.75 | (6.47 | ) | (3.97 | ) | 6.73 | 7.53 | ||||||||||||||||
Dividends to shareholders: |
| |||||||||||||||||||||||
Net investment income |
(0.54 | ) | (1.38 | ) | (1.31 | ) | (1.37 | ) | (1.37 | ) | (0.98 | ) | ||||||||||||
Net asset value, end of period |
$ | 63.57 | $ | 61.01 | $ | 42.64 | $ | 50.42 | $ | 55.76 | $ | 50.40 | ||||||||||||
TOTAL RETURN3 |
5.11 | % | 46.97 | %4 | (13.26 | )% | (7.20 | )% | 13.45 | % | 17.45 | % | ||||||||||||
RATIOS/SUPPLEMENTAL DATA: |
| |||||||||||||||||||||||
Net assets, end of period (000’s omitted) |
$ | 1,853,018 | $ | 1,674,759 | $ | 1,709,801 | $ | 3,254,417 | $ | 6,607,000 | $ | 8,411,670 | ||||||||||||
Ratios to average net assets of: |
| |||||||||||||||||||||||
Expenses |
0.48 | %5 | 0.48 | % | 0.48 | % | 0.48 | % | 0.48 | % | 0.48 | % | ||||||||||||
Net investment income |
2.05 | %5 | 2.03 | % | 2.08 | % | 1.96 | % | 1.67 | % | 1.91 | % | ||||||||||||
Portfolio turnover rate6 |
3 | % | 25 | % | 20 | % | 23 | % | 18 | % | 37 | % |
WisdomTree Japan Hedged SmallCap Equity Fund |
For the Six Months Ended (unaudited) |
For
the Year Ended March 31, 2021 |
For
the Year Ended March 31, 2020 |
For
the Year Ended March 31, 2019 |
For
the Year Ended March 31, 2018 |
For
the Year Ended March 31, 2017 |
||||||||||||||||||
Net asset value, beginning of period |
$ | 44.76 | $ | 33.88 | $ | 39.57 | $ | 44.13 | $ | 37.28 | $ | 31.24 | ||||||||||||
Investment operations: |
| |||||||||||||||||||||||
Net investment income1 |
0.56 | 0.64 | 0.75 | 0.51 | 0.64 | 0.70 | ||||||||||||||||||
Net realized and unrealized gain (loss) |
0.87 | 11.45 | (5.52 | ) | (4.31 | ) | 6.91 | 5.94 | ||||||||||||||||
Total from investment operations |
1.43 | 12.09 | (4.77 | ) | (3.80 | ) | 7.55 | 6.64 | ||||||||||||||||
Dividends to shareholders: |
| |||||||||||||||||||||||
Net investment income |
(0.48 | ) | (1.21 | ) | (0.92 | ) | (0.76 | ) | (0.70 | ) | (0.60 | ) | ||||||||||||
Net asset value, end of period |
$ | 45.71 | $ | 44.76 | $ | 33.88 | $ | 39.57 | $ | 44.13 | $ | 37.28 | ||||||||||||
TOTAL RETURN3 |
3.26 | % | 36.31 | % | (12.41 | )% | (8.77 | )% | 20.42 | % | 21.64 | % | ||||||||||||
RATIOS/SUPPLEMENTAL DATA: |
| |||||||||||||||||||||||
Net assets, end of period (000’s omitted) |
$ | 45,707 | $ | 31,332 | $ | 44,049 | $ | 83,097 | $ | 207,434 | $ | 115,561 | ||||||||||||
Ratios to average net assets of: |
| |||||||||||||||||||||||
Expenses |
0.58 | %5 | 0.58 | % | 0.58 | % | 0.58 | % | 0.58 | % | 0.58 | % | ||||||||||||
Net investment income |
2.53 | %5 | 1.67 | % | 1.90 | % | 1.20 | % | 1.51 | % | 2.11 | % | ||||||||||||
Portfolio turnover rate6 |
3 | % | 41 | % | 36 | % | 38 | % | 30 | % | 48 | % |
1 |
Based on average shares outstanding. |
2 |
Amount represents less than $0.005. |
3 |
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. |
4 |
Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been unchanged . |
5 |
Annualized. |
6 |
Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation. |
See Notes to Financial Statements.
WisdomTree Trust | 47 |
Notes to Financial Statements (unaudited)
WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust on December 15, 2005 and is authorized to have multiple series of portfolios (each a “Fund”, collectively, the “Funds”). These notes relate only to the Funds listed below. In accordance with Accounting Standards Codification Topic 946, Financial Services-Investment Companies, each Fund listed below qualifies as an investment company and is applying the accounting and reporting guidance for investment companies.
Fund | Commencement of Operations |
|||
WisdomTree Europe Hedged Equity Fund (“Europe Hedged Equity Fund”) |
December 31, 2009 | |||
WisdomTree Europe Hedged SmallCap Equity Fund (“Europe Hedged SmallCap Equity Fund”) |
March 4, 2015 | |||
WisdomTree Germany Hedged Equity Fund (“Germany Hedged Equity Fund”) |
October 17, 2013 | |||
WisdomTree International Hedged Quality Dividend Growth Fund (“International Hedged Quality Dividend Growth Fund”) |
May 7, 2014 | |||
WisdomTree Japan Hedged Equity Fund (“Japan Hedged Equity Fund”) |
June 16, 2006 | |||
WisdomTree Japan Hedged SmallCap Equity Fund (“Japan Hedged SmallCap Equity Fund”) |
June 28, 2013 |
Each Fund seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“WisdomTree Investments”). WisdomTree Investments is the parent company of WisdomTree Asset Management, Inc. (“WTAM”), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree Investments and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.
In the normal course of business, the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and believes such exposure to be remote.
2. SIGNIFICANT ACCOUNTING POLICIES
The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants.
The following is a summary of significant accounting policies followed by the Funds:
Use of Estimates — The preparation of financial statements in conformity with GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.
Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g., broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts that settle within two business days after the trade date (“Spot Contracts”) and foreign currency contracts having a settlement period greater than two business days after the trade date (“Forward Contracts”) are valued daily using WM/Reuters closing spot and forward rates, respectively, as of 4:00 p.m. London time for all Funds except for Forward Contracts in certain Asian currencies (Chinese renminbi, Chinese yuan, Hong Kong dollar, Indian rupee, Indonesian rupiah, Malaysian ringgit, Philippine peso,
48 | WisdomTree Trust |
Notes to Financial Statements (unaudited) (continued)
Singapore dollar, South Korean won, New Taiwan dollar, and the Thai baht) which are valued daily using WM/Reuters closing forward rates as of 2:00 p.m. Singapore time.
In certain instances, such as when reliable market valuations are not readily available, a Fund’s investments, which include derivatives, will be fair valued in accordance with the Fund’s pricing policy. The Board of Trustees has established a pricing committee (the “Pricing Committee”) which is comprised of senior representatives of WTAM and which reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from the exchange or system on which it is principally traded, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Pricing Committee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.
Fair Value Measurement — In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Pricing Committee will perform other procedures (consistent with GAAP) to value an investment when a market quote is not available. ASC 820 established a three-tier hierarchy of inputs to be used when determining fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk — for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 – quoted prices in active markets for identical securities
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates,
prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)
The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.
Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended (either due to events affecting the issuer of the security specifically or events affecting the primary trading exchange more broadly) or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation or market activity; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets in which the security is traded but before the time as of which a Fund’s NAV is computed and that may materially affect the value of the Fund’s investments).
The valuation techniques and significant inputs used in determining the fair market value measurements for Level 2 and Level 3 positions are as follows:
Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent pricing service providers’ internal pricing models may use inputs that are observable such as issuer details (e.g., credit rating, debt ranking, coupon date, maturity date, etc.), interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate. Over-the-counter financial derivative instruments derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These instruments are normally valued on the basis of broker-dealer quotations or prices obtained from independent pricing service providers. Depending on the product and the terms of the
WisdomTree Trust | 49 |
Notes to Financial Statements (unaudited) (continued)
transaction, the value of the financial derivative instruments can be estimated by an independent pricing service provider using a series of techniques including simulation pricing models. The pricing models may use inputs that are observed from actively quoted markets such as issuer details, indices, credit risks/spreads, interest rates, yield curves, default and exchange rates. Derivative contracts that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate.
Determination of a fair value by the Pricing Committee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Pricing Committee may employ a market-based valuation approach which may use, among other potential considerations, related or comparable securities, recent transactions, market multiples, and other relevant information to determine fair value. The Pricing Committee may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value.
The summary of fair valuations according to the inputs used in valuing each Fund’s assets as of the measurement date is included in a “Fair Valuation Summary” supplementary table in each applicable Fund’s Schedule of Investments.
During the six months ended September 30, 2021, there were no significant transfers into or out of Level 3 of the fair value hierarchy.
Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts as well as gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts during the fiscal period ended September 30, 2021 and open positions in such derivatives as of September 30, 2021 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. The Funds’ derivative agreements may also contain credit-risk related contingent features which include, but are not limited to, a percentage decline in the Funds’ NAV over a specified time period. If an event occurred at September 30, 2021 that triggered a contingent feature, the counterparty to the agreement may require the Funds to post additional collateral or terminate the derivative positions and demand payment. Any collateral posted with respect to the derivative positions would be used to offset or reduce the payment. The maximum exposure to derivatives agreements with credit-risk related contingent features would be the total value of derivatives in net liability positions for each Fund, as disclosed in the table included in Note 2 — Master Netting Arrangements. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of September 30, 2021, if any, is reflected as a footnote within each Fund’s Schedule of Investments.
As of September 30, 2021, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:
Asset Derivatives | Liability Derivatives | |||||||||||
Fund | Balance Sheet Location | Value | Balance Sheet Location | Value | ||||||||
Europe Hedged Equity Fund |
| |||||||||||
Foreign currency risk |
Unrealized appreciation on foreign currency contracts |
$ | 40,451,374 | Unrealized depreciation on foreign currency contracts |
$ | 26,303 | ||||||
Europe Hedged SmallCap Equity Fund |
| |||||||||||
Foreign currency risk |
Unrealized
appreciation on foreign currency contracts |
1,045,530 | Unrealized
depreciation on foreign currency contracts |
685 | ||||||||
Germany Hedged Equity Fund |
| |||||||||||
Foreign currency risk |
Unrealized
appreciation on foreign currency contracts |
615,948 | Unrealized
depreciation on foreign currency contracts |
409 | ||||||||
International Hedged Quality Dividend Growth Fund |
| |||||||||||
Foreign currency risk |
Unrealized
appreciation on foreign currency contracts |
18,645,763 | Unrealized
depreciation on foreign currency contracts |
52,895 | ||||||||
Japan Hedged Equity Fund |
| |||||||||||
Foreign currency risk |
Unrealized
appreciation on foreign currency contracts |
28,538,246 | Unrealized
depreciation on foreign currency contracts |
1,159,957 | ||||||||
Japan Hedged SmallCap Equity Fund |
| |||||||||||
Foreign currency risk |
Unrealized
appreciation on foreign currency contracts |
770,304 | Unrealized
depreciation on foreign currency contracts |
886 |
50 | WisdomTree Trust |
Notes to Financial Statements (unaudited) (continued)
For the six months ended September 30, 2021, the effects of derivative instruments on each applicable Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:
Fund | Amount of Realized Gain or (Loss) on Derivatives Recognized1 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized2 |
||||||
Europe Hedged Equity Fund |
| |||||||
Foreign currency risk |
$ | 57,115,781 | $ | (18,901,684 | ) | |||
Europe Hedged SmallCap Equity Fund |
| |||||||
Foreign currency risk |
1,182,199 | (118,641 | ) | |||||
Germany Hedged Equity Fund |
| |||||||
Foreign currency risk |
899,198 | (325,115 | ) | |||||
International Hedged Quality Dividend Growth Fund |
| |||||||
Foreign currency risk |
26,159,208 | (4,524,868 | ) | |||||
Japan Hedged Equity Fund |
| |||||||
Foreign currency risk |
51,087,116 | (29,526,008 | ) | |||||
Japan Hedged SmallCap Equity Fund |
| |||||||
Foreign currency risk |
900,317 | (297,332 | ) |
1 |
Realized gains (losses) on derivatives are located on the Statements of Operations as follows: |
Foreign currency risk |
Net realized gain (loss) from foreign currency contracts |
2 |
Change in unrealized appreciation (depreciation) is located on the Statements of Operations as follows: |
Foreign currency risk |
Net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts |
During the six months ended September 30, 2021, the volume of derivative activity (based on the average of month-end balances) for each Fund was as follows:
Average Notional | ||||||||
Fund | Foreign currency contracts (to deliver USD) |
Foreign currency contracts (to receive USD) |
||||||
Europe Hedged Equity Fund |
| |||||||
Foreign currency risk |
$ | 2,002,839,103 | $ | 4,023,608,828 | ||||
Europe Hedged SmallCap Equity Fund |
| |||||||
Foreign currency risk |
44,753,221 | 89,963,947 | ||||||
Germany Hedged Equity Fund |
| |||||||
Foreign currency risk |
31,621,557 | 63,615,247 | ||||||
International Hedged Quality Dividend Growth Fund |
| |||||||
Foreign currency risk |
989,860,282 | 1,989,443,289 | ||||||
Japan Hedged Equity Fund |
| |||||||
Foreign currency risk |
1,818,185,211 | 3,604,435,006 | ||||||
Japan Hedged SmallCap Equity Fund |
| |||||||
Foreign currency risk |
32,552,769 | 65,476,494 |
Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (net of foreign taxes withheld, if any) is recognized on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. Non-cash dividend income is recognized at the fair value of securities received on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as of date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. Income earned from securities lending activities (i.e., securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily.
Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using
WisdomTree Trust | 51 |
Notes to Financial Statements (unaudited) (continued)
exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of “net realized gain (loss) from investment transactions” and “net increase (decrease) in unrealized appreciation/depreciation from investment transactions”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in “net realized gain (loss) from foreign currency contracts” and “net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in “net realized gain (loss) from foreign currency related transactions” and/or “net increase (decrease) in unrealized appreciation/depreciation from translation of assets and liabilities denominated in foreign currencies” in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.
Expenses — Under the investment advisory agreement for each Fund, except for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (“CCO”); (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.
Under the investment advisory agreement for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges, taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable to WTAM.
Acquired fund fees and expenses (“AFFEs”) (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) are not operating expenses of the Funds and are not paid by WTAM.
Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees. WTAM receives a fee, as shown on the Statements of Operations under “Service fees”, of up to 0.0044% per annum of each Fund’s average daily net assets for providing such services and paying such expenses. WTAM provides CCO services to the Trust.
Foreign Currency Contracts — The Funds may enter into foreign currency contracts to facilitate local securities settlements or to protect against currency exposure. The Funds may not enter into such contracts for speculative purposes. During the fiscal period ended September 30, 2021, the Funds utilized foreign currency contracts primarily to offset exposure to foreign currencies consistent with each Fund’s investment objective. A foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A foreign currency contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades. However, if a Fund is in an unrealized loss position on a foreign currency contract, it may be required to pledge collateral (or additional collateral) to the counterparty. If a Fund is in an unrealized gain position on a foreign currency contract, it may receive collateral from the counterparty. In the event of a default or inability of counterparties to meet the terms of their contracts, the non-defaulting party generally has the right to liquidate the collateral and apply the proceeds in satisfaction of the contract terms.
Risks may arise upon entering into foreign currency contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar or each other.
Fluctuations in the value of open foreign currency contracts are recorded for book purposes as unrealized gains or losses on foreign currency contracts by the Funds and are included in “net increase (decrease) in unrealized appreciation/depreciation from foreign currency
52 | WisdomTree Trust |
Notes to Financial Statements (unaudited) (continued)
contracts” on the Statements of Operations. Realized gains and losses on foreign currency contracts include net gains or losses recognized by the Funds on contracts which have settled are included in “net realized gain (loss) from foreign currency contracts” on the Statements of Operations.
Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or securities issued or guaranteed by the U.S. government or its agencies, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower (net of any fee rebates paid to the borrower). The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The net securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend income earned on the securities loaned is accounted for in the same manner as other dividend income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.
Master Netting Arrangements — Codification Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.
In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund enters into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives (“OTC”), such as foreign currency contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.
Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g., foreign currency contracts, options and certain swaps). Generally, for transactions traded under an ISDA Master Agreement, the collateral requirements are calculated by netting the marked to market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by a Fund and the counterparty. Generally, the amount of collateral due from or to a counterparty must exceed a minimum transfer amount threshold before a transfer is required to be made. To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.
The Funds’ securities lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the
WisdomTree Trust | 53 |
Notes to Financial Statements (unaudited) (continued)
market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower.
For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of September 30, 2021, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:
Assets | Liabilities | |||||||||||||||||||||||||||||||
Gross Amounts Assets and |
Gross Amounts Not Offset in the Statements of Assets and Liabilities |
Gross Amounts Assets and |
Gross Amounts Not Offset in the Statements of Assets and Liabilities |
|||||||||||||||||||||||||||||
Fund | Financial Instruments |
Collateral Received |
Net Amount | Financial Instruments |
Collateral Posted |
Net Amount | ||||||||||||||||||||||||||
Europe Hedged Equity Fund |
| |||||||||||||||||||||||||||||||
Securities Lending |
$ | 38,470,136 | $ | — | $ | (38,470,136 | )1 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Foreign Currency Contracts |
40,451,374 | (26,303 | ) | — | 40,425,071 | 26,303 | (26,303 | ) | — | — | ||||||||||||||||||||||
Europe Hedged SmallCap Equity Fund |
||||||||||||||||||||||||||||||||
Securities Lending |
939,713 | — | (939,713 | )1 | — | — | — | — | — | |||||||||||||||||||||||
Foreign Currency Contracts |
1,045,530 | (679 | ) | — | 1,044,851 | 685 | (679 | ) | — | 6 | ||||||||||||||||||||||
Germany Hedged Equity Fund |
||||||||||||||||||||||||||||||||
Foreign Currency Contracts |
615,948 | (399 | ) | — | 615,549 | 409 | (399 | ) | — | 10 | ||||||||||||||||||||||
International Hedged Quality Dividend Growth Fund |
||||||||||||||||||||||||||||||||
Securities Lending |
52,958,251 | — | (52,958,251 | )1 | — | — | — | — | — | |||||||||||||||||||||||
Foreign Currency Contracts |
18,645,763 | (52,895 | ) | — | 18,592,868 | 52,895 | (52,895 | ) | — | — | ||||||||||||||||||||||
Japan Hedged Equity Fund |
| |||||||||||||||||||||||||||||||
Securities Lending |
25,833,872 | — | (25,833,872 | )1 | — | — | — | — | — | |||||||||||||||||||||||
Foreign Currency Contracts |
28,538,246 | (1,159,957 | ) | — | 27,378,289 | 1,159,957 | (1,159,957 | ) | — | — | ||||||||||||||||||||||
Japan Hedged SmallCap Equity Fund |
||||||||||||||||||||||||||||||||
Securities Lending |
5,239,562 | — | (5,239,562 | )1 | — | — | — | — | — | |||||||||||||||||||||||
Foreign Currency Contracts |
770,304 | (886 | ) | — | 769,418 | 886 | (886 | ) | — | — |
1 |
The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero. |
Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.
Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded to RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The
54 | WisdomTree Trust |
Notes to Financial Statements (unaudited) (continued)
amount of dividends and distributions from net investment income and net realized capital gains is determined in accordance with the requirements of the Code and the U.S. Treasury regulations. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.
3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES
WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (“Mellon”) to provide sub-advisory services to the Funds. Mellon is compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.
Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.
WTAM expects to receive annual advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:
Fund |
Advisory Fee Rate |
|||
Europe Hedged Equity Fund |
0.58 | % | ||
Europe Hedged SmallCap Equity Fund |
0.58 | % | ||
Germany Hedged Equity Fund |
0.48 | % | ||
International Hedged Quality Dividend Growth Fund |
0.58 | % | ||
Japan Hedged Equity Fund |
0.48 | % | ||
Japan Hedged SmallCap Equity Fund |
0.58 | % |
Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Transactions in shares of affiliated ETFs for the fiscal period ended September 30, 2021, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM voluntarily waives a portion of the advisory fees, that it would otherwise charge, in an amount equal to the indirect AFFE (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) attributable to each Fund’s investment in affiliated ETFs. The dollar amount of advisory fees waived during the period for the Funds, if any, are included in the Statement of Operations in “Expense waivers”.
WTAM and/or WisdomTree Investments (collectively herein, “WT”) may from time to time own shares of a Fund. As of and for the six months ended September 30, 2021, WT held shares of and received distributions from the following Funds, which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:
At September 30, 2021 | For the six months ended September 30, 2021 |
|||||||||||||||
Fund | Fund Shares held by WT |
Market Value of Fund Shares held by WT |
Dividends and Distributions paid to WT on Fund Shares held by WT |
|||||||||||||
International Hedged Quality Dividend Growth Fund |
— | $ | — | $ | 15 | |||||||||||
Japan Hedged Equity Fund |
21 | 1,326 | 21 |
4. CAPITAL SHARE TRANSACTIONS
As of September 30, 2021, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof. Except when aggregated in creation units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities and/or an amount of cash. Investors purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.
WisdomTree Trust | 55 |
Notes to Financial Statements (unaudited) (continued)
5. INVESTMENT PORTFOLIO TRANSACTIONS
Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the six months ended September 30, 2021 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.
In-kind Capital Share Transactions | ||||||||||||||||
Fund | Purchases | Sales | Purchases | Sales | ||||||||||||
Europe Hedged Equity Fund |
$ | 116,292,267 | $ | 82,559,524 | $ | 50,884,092 | $ | 26,697,259 | ||||||||
Europe Hedged SmallCap Equity Fund |
4,044,244 | 2,958,298 | 14,160,536 | — | ||||||||||||
Germany Hedged Equity Fund |
1,975,777 | 1,551,729 | — | — | ||||||||||||
International Hedged Quality Dividend Growth Fund |
64,316,000 | 21,941,660 | 86,571,065 | — | ||||||||||||
Japan Hedged Equity Fund |
93,858,923 | 55,815,907 | 360,925,811 | 262,203,415 | ||||||||||||
Japan Hedged SmallCap Equity Fund |
1,905,124 | 919,556 | 13,732,739 | — |
6. FEDERAL INCOME TAXES
At September 30, 2021, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:
Investments in Long Securities | Investments in Financial Derivatives1 | |||||||||||||||||||||||||||||||||||
Fund | Tax Cost | Gross Unrealized Appreciation |
Gross Unrealized Depreciation |
Net Unrealized Appreciation |
Gross Unrealized Appreciation |
Gross Unrealized Depreciation |
Net (Depreciation) |
Total Net (Depreciation) |
||||||||||||||||||||||||||||
Europe Hedged Equity Fund |
$ | 1,732,980,150 | $ | 476,896,513 | $ | (131,367,995 | ) | $ | 345,528,518 | $ | — | $ | — | $ | — | $ | 345,528,518 | |||||||||||||||||||
Europe Hedged SmallCap Equity Fund |
48,417,363 | 7,607,559 | (2,057,667 | ) | 5,549,892 | — | (6 | ) | (6 | ) | 5,549,886 | |||||||||||||||||||||||||
Germany Hedged Equity Fund |
27,754,815 | 5,647,967 | (2,337,904 | ) | 3,310,063 | — | (10 | ) | (10 | ) | 3,310,053 | |||||||||||||||||||||||||
International Hedged Quality Dividend Growth Fund |
845,041,471 | 221,943,650 | (17,619,918 | ) | 204,323,732 | 1,217,551 | (7,383 | ) | 1,210,168 | 205,533,900 | ||||||||||||||||||||||||||
Japan Hedged Equity Fund |
1,781,210,781 | 238,402,574 | (173,555,748 | ) | 64,846,826 | — | (265 | ) | (265 | ) | 64,846,561 | |||||||||||||||||||||||||
Japan Hedged SmallCap Equity Fund |
48,367,928 | 3,629,814 | (3,434,123 | ) | 195,691 | — | — | — | 195,691 |
1 |
Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments. |
GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign withholding taxes, as applicable, are accrued based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Foreign withholding taxes are accrued and applied to foreign income, net realized capital gains and net unrealized appreciation, as applicable, as the foreign income is earned or capital gains and unrealized appreciation are recorded. The dollar amount of applicable foreign withholding taxes on foreign income is included net in the Statements of Operations in “Dividend Income”, the foreign capital gains tax applicable on the disposal of securities is included in the Statements of Operations in “Net realized gain (loss) from investment transactions” and the dollar amount of deferred foreign capital gains tax applicable on the unrealized appreciation on securities held is included in the Statements of Operations in “Net increase (decrease) in unrealized appreciation/depreciation from investment transactions”. The Funds record a foreign tax reclaim receivable on the ex-dividend date if the tax reclaim is “more likely than not” to be sustained assuming examination by tax authorities. This determination is based on, among other things, a jurisdiction’s legal obligation to pay reclaims as well as payment history and market convention. Foreign tax reclaims that have been recorded but not yet received are shown on the Statements of Liabilities in “Receivables: Foreign tax reclaims”.
As a result of several European Court of Justice (“ECJ”) court cases in certain countries across the European Union (“EU”), certain Funds have filed additional tax reclaims for previously withheld taxes on dividends earned in those countries (“ECJ tax reclaims”). These additional filings are subject to various administrative proceedings by the local jurisdictions’ tax authorities within the EU, as
56 | WisdomTree Trust |
Notes to Financial Statements (unaudited) (concluded)
well as a number of related judicial proceedings. Income recognized, if any, for ECJ tax reclaims is reflected as “Other income” in the Statements of Operations and the cost to file these additional ECJ tax reclaims is reflected as “Other fees” in the Statements of Operations. When the ECJ tax reclaim is not “more likely than not” to be sustained assuming examination by tax authorities due to the uncertainty that exists as to the ultimate resolution of these proceedings, the likelihood of receipt of these ECJ tax reclaims, and the potential timing of payment, no amounts are reflected in the financial statements. For U.S. income tax purposes, ECJ tax reclaims received by the Funds, if any, reduce the amounts of foreign taxes Fund shareholders can use as tax credits in their individual income tax returns. In the event that ECJ tax reclaims received by a Fund during the fiscal year exceed foreign withholding taxes paid, and a Fund previously passed foreign tax credits on to its shareholders, a Fund must either amend historic tax reporting to shareholders or enter into a closing agreement with the Internal Revenue Service in order to pay the associated tax liability on behalf of the respective Fund’s shareholders. During the fiscal period ended September 30, 2021, the ECJ tax reclaims received by the Funds did not exceed the foreign withholding taxes of the respective Funds.
7. ADDITIONAL INFORMATION
The respiratory disease caused by a novel coronavirus (“COVID-19”) has spread globally for over a year, resulting in a global pandemic and major disruption to global markets and economies. In an organized attempt to contain and mitigate the effects of COVID-19, governments and businesses world-wide took aggressive measures, including businesses canceling dividends to preserve cash, governments closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations. COVID-19 has resulted in the disruption of and delays in the delivery of healthcare services and processes, the cancellation of organized events and educational institutions, the disruption of production and supply chains, a decline in consumer demand for certain goods and services, and general concern and uncertainty, all of which have contributed to increased volatility in global markets. In recent months, however, the rapid COVID-19 vaccination rollout in the United States and certain other developed countries, coupled with the passage of stimulus programs in the U.S. and abroad, have resulted in a reversal of many of these trends including the re-opening of businesses, a reduction in quarantine requirements, increased consumer demand, and the resumption of certain in-person schooling, travel and events. Despite these positive trends, the prevalence of new COVID-19 variants, a failure to achieve herd immunity, or other unforeseen circumstances may result in the continued spread of the virus throughout unvaccinated populations or a resurgence in infections among vaccinated populations. As a result, it remains unclear if recent positive trends will continue in developed markets and whether such trends will spread world-wide to countries with limited access to vaccines that are still experiencing rising COVID-19 cases, hospitalizations and deaths.
The effects of COVID-19 have affected and are likely to continue to affect certain sectors and industries more dramatically than others, and the effects borne by some will negatively affect the value of the issuers in those sectors and industries, which may adversely affect the value of a Fund’s investments in those sectors or industries. It is also true that the speed at which global economies recover, or fail to recover, from the COVID-19 pandemic will affect certain sectors, industries, and issuers more dramatically than others, which in turn may adversely affect certain Fund investments.
COVID-19, and other epidemics and pandemics that may arise in the future, could adversely affect the economies of many nations, the global economy, individual companies and capital markets in ways that cannot be foreseen at the present time. In addition, the impact of infectious diseases in developing or emerging market countries may be greater due to limited health care resources, including access to COVID-19 vaccinations and treatments. Political, economic and social stresses caused by COVID-19 also may exacerbate other pre-existing political, social and economic risks in certain countries. The duration of COVID-19 and its effects cannot be determined fully at this time, but the effects could be present for an extended period of time. It is impossible to predict the effects on the Funds of these or similar events and market conditions in the future. However, it is possible that these or similar events and market conditions could have a significant and adverse effect on the NAV and/or risk profile of a Fund.
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Approval of Investment Advisory and Sub-Advisory Agreements (unaudited)
Consideration of the Approval and Renewal of Investment Advisory and Sub-Advisory Agreements
At a meeting of the Board of Trustees (the “Board” or the “Trustees”) of the WisdomTree Trust (the “Trust”) held on September 27-28, 2021 (the “Meeting”), the Trustees, including those Trustees who are not “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the Trust (the “Independent Trustees”), considered the renewal of (i) the Investment Advisory Agreements between WisdomTree Asset Management, Inc. (“WTAM”) and the Trust, on behalf of its series included in this report (each, a “Fund,” and, collectively, the “Funds”), pursuant to which WTAM provides the Funds with investment advisory services (the “Advisory Agreements”), and (ii) the Sub-Advisory Agreement (the “Sub-Advisory Agreement” and, the Advisory Agreements together with the Sub-Advisory Agreement (the “Agreements”)), pursuant to which Mellon Investments Corporation (the “Sub-Adviser”) coordinates the investment and reinvestment of the assets of the Funds included in this report.
The Trustees requested, and WTAM provided, such information as the Trustees, with advice from counsel to the Trust and independent legal counsel, deemed reasonably necessary to evaluate the Agreements. At a meeting of a committee of Independent Trustees (the “Contracts Review Committee”) held on August 9, 2021, representatives from WTAM presented detailed information to the Trustees relating to the continuance of the Agreements, and the Trustees, including the Independent Trustees, reviewed and discussed such information. Further information was presented at the Board’s request at the Meeting.
The Independent Trustees were assisted in their review by independent legal counsel and met with counsel in executive session separate from WTAM representatives and the Sub-Advisers. In considering the approval and renewal of the Agreements, the Board considered all factors that it believed to be relevant, including those discussed below. The Board did not identify any one factor as dispositive, and each Trustee may have attributed different weights to the factors considered. Each Fund was considered separately.
Analysis of Nature, Extent, and Quality of Services Provided to the Funds. The Board considered information provided to them at the Meeting and in previous presentations throughout the year from WTAM representatives regarding the nature, extent, and quality of the services provided to the Funds, recognizing WTAM’s and the Sub-Advisers’ operational capabilities and resources. The Board also discussed the role of WisdomTree Investments, Inc. (“WTI”), the parent of WTAM, as index provider to certain Funds, which comprise the substantial majority of assets in the WisdomTree fund complex. The Board noted that the strategies represented by those Funds tracking affiliated WTI indexes are unique, based on WTI’s intellectual property and are only available for use by applicable Funds through WTAM. The Board noted WTAM’s belief that shareholders have invested in such Funds on the strength of WTI’s intellectual property and WTAM’s industry standing and reputation and with the expectation that WTAM will have a continuing role in providing advisory services to the Funds based on the WTI indexes. The Board also noted the extensive responsibilities that WTAM has as investment adviser to the Funds, including: the selection of, and supervisory responsibilities and activities over, the Sub-Advisers, including oversight of the Sub-Advisers’ adherence to each Fund’s investment strategy and restrictions, monitoring of the Sub-Advisers’ buying and selling of securities and derivatives transactions, review of Sub-Adviser performance, review of proxies voted by the Sub-Advisers and oversight of, and the provision of consultation to, the Sub-Advisers with respect to the creation of custom creation or redemption baskets for authorized participants; oversight of the daily valuation of the Funds’ portfolio holdings; oversight of general Fund compliance with federal and state laws; and implementation of Board directives as they relate to the Funds. The Board also considered research support available to, and management capabilities of, the Funds’ management personnel and that WTAM provides oversight of day-to-day Fund operations, including fund accounting, tax matters, administration and legal assistance in meeting disclosure and regulatory requirements. Based on management’s representations, the Board expected that there would be no reduction in the scope of services required by or provided by WTAM and the Sub-Advisers under the relevant Agreements. The Board noted that WTAM has continued to commit significant resources toward the fund complex and has made substantial investments to improve the services offered by WTAM, which benefit Fund shareholders.
Based on review of this information and the other factors considered at the Meeting, the Board concluded that the nature, extent and quality of services provided by WTAM and the Sub-Advisers under the Advisory Agreements and Sub-Advisory Agreements, respectively, are adequate and appropriate and supported the Board’s approval of the approval and renewal of the Agreements.
Comparative Analysis of the Funds’ Performance and Management Fee and Expense Ratio. The Board reviewed reports prepared by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data, which included information (1) measuring each index Fund’s performance by how well it tracked the relevant benchmark index, (2) comparing, with respect to the actively-managed Funds, each Fund’s performance with the performance of a group of comparable funds (the “Performance Group”) for various periods ended May 31, 2021, and (3) comparing each Fund’s actual management fees and total expenses with those of a group of comparable funds (the “Expense Group”) and, with respect to total expenses, with a broader group of funds (the “Expense Universe”), the information for which was derived in part from fund financial statements available to Broadridge as of the date of its analysis. The Contracts Review Committee and the Independent Trustees previously had reviewed and discussed the methodology Broadridge used to select the Performance Groups, Expense Groups and Expense Universes. The
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Approval of Investment Advisory and Sub-Advisory Agreements (unaudited) (continued)
Board noted that the Performance Groups, Expense Groups and Expense Universes included only pure-index and index-based exchange traded funds (“ETFs”) as comparison funds, except that the Performance Groups, Expense Groups and Expense Universes for the actively-managed Funds included only actively-managed ETFs as comparison funds. The Board also noted that due to the special characteristics of certain Funds, there are limitations in providing comparable funds in the Performance Groups, Expense Groups and Expense Universes, and the information in the Broadridge reports may or may not provide meaningful direct comparisons to the Funds.
The Board discussed the index Funds’ performance, noting that the substantial majority of index Funds seek to track their own WisdomTree benchmark index. During the prior year, the Board received periodic reports on the Funds’ performance in comparison to their relevant benchmark indexes. The Board also discussed the performance of the actively-managed Funds and noted that total return performance of the Funds was variously above, at and below the relevant Performance Group medians for the time periods measured. In response to questions from the Independent Trustees, WTAM representatives discussed the relative performance of the Funds and the factors affecting such performance. On that basis, the Board determined to continue to monitor carefully disparities in performance — both positive and negative — but did not believe that the disparities in the past reflected any characteristics requiring immediate action by WTAM or a Sub-Adviser.
The Board also reviewed the range of actual management fees and total expenses of the Expense Group funds and, with respect to total expenses, Expense Universe funds, and discussed the results of the comparisons. With respect to comparisons of actual management fees, the Board noted the Funds’ unitary fee structure and that the Expense Groups and Expense Universes generally included both ETFs with and without a unitary fee structure. The Board also noted that certain comparison funds in certain Expense Groups and Expense Universes benefited from waivers of all or a portion of their management fees and reimbursement of certain operating expenses. The Board noted that the total expenses of many of the Funds were within five basis points of the median or average total expenses of the funds in the Funds’ respective Expense Groups. In those specific instances where a Fund’s total expenses departed more significantly from comparative funds, the Independent Trustees sought explanations from WTAM, which generally attributed the disparities to the limitations within peer data and/or the unique attributes of a Fund.
The Board considered the fees to the Sub-Advisers in relation to the fees paid to WTAM by the Funds and the respective services provided by the Sub-Advisers and WTAM. The Board also noted that the Sub-Advisers’ fees are paid by WTAM (out of its fee paid by the relevant Funds) and not the Funds. The Board considered the meaningful differences in the services that WTAM provides to the Funds as compared to the Sub-Advisers, including that the role of a Sub-Adviser in making investment recommendations with respect to a Fund tracking an index is a rules-based function, with oversight by WTAM in seeking to ensure compliance with such rules. The Board also considered the role of a Sub-Adviser in making investment recommendations with respect to a Fund that is model-based, with oversight by WTAM in seeking to ensure consistency with such quantitative models. The Board also considered the entrepreneurial and expense risk borne by WTAM that is associated with the Funds’ unitary fee structure, which frequently includes minimum fees (such as those to a Sub-Adviser), regardless of whether the asset size of a Fund has grown to a sufficient size.
Based on this review and the other factors considered at the Meeting, the Board concluded that, with respect to each Fund, the Fund’s performance, the fees paid to WTAM and the relevant Sub-Adviser and the Fund’s total expenses supported the Board’s approval and renewal of the relevant Agreements.
Analysis of Profitability and Economies of Scale. WTAM representatives reviewed the expenses allocated and profit received by WTAM and the resulting profitability percentage for managing each Fund and the aggregate profitability percentage to WTAM for managing the WisdomTree fund complex, and the method used to determine the expenses and profit.
The Board considered the profitability analysis (1) as part of its evaluation of whether the fees under the Agreements bear a reasonable relationship to the mix of services provided by WTAM and the Sub-Advisers, including the nature, extent and quality of such services, and (2) in light of the relevant circumstances for each Fund and the extent to which economies of scale would be realized if the Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund shareholders. WTAM representatives noted that a discussion of economies of scale is predicated on a Fund having achieved a substantial size and that, if a Fund’s assets had been decreasing, the possibility that WTAM may have realized material economies of scale would be less. WTAM representatives also noted that, as a result of shared and allocated costs among the WisdomTree funds, the extent of economies of scale could depend substantially on the level of assets in the fund complex as a whole and the relative size and asset size changes among the Funds. The Board noted that, in the past, certain Funds had grown rapidly over a relatively short period of time after longer periods of slow or no growth, during which there were years of losses for WTAM in managing such Funds that had only recently turned profitable and years of substantial cumulative losses to WTAM in managing the fund complex as a whole. WTAM representatives stated that there has been significant volatility in the assets of individual Funds and in the fund complex as a whole over time (including volatility in profitability) and that it was not clear that current asset levels will be maintained. WTAM representatives noted that assets in certain Funds have diminished at times at a rapid rate (including during the last year) and could continue to do so. WTAM representatives also noted that economies of scale currently are shared with the Funds by way of the unitary fee structure of the Trust, as well as through additional investment in the WisdomTree business. The Board noted that the
WisdomTree Trust | 59 |
Approval of Investment Advisory and Sub-Advisory Agreements (unaudited) (concluded)
Contracts Review Committee had focused on the issue of economies of scale during its meetings. The Board also noted that it would continue to monitor the sharing of economies of scale, focusing in particular on Funds that have experienced significant asset growth, to determine the appropriateness of adding breakpoints in the future. The Board also considered potential benefits to WTAM and the Sub-Advisers from acting as investment adviser and sub-advisers, respectively, and noted that there were no soft dollar arrangements in effect for trading the Funds’ investments. Based on this review, the Board concluded that the profitability results were consistent with the services rendered and service levels provided by WTAM and the entrepreneurial risk WTAM has undertaken over time.
* * * * * *
At the conclusion of these discussions, the Board agreed that it had been furnished with sufficient information to make an informed business decision with respect to the approval to renew the Agreements. In evaluating the Agreements, the Board considered the conclusions and determinations discussed above and also relied on its previous knowledge, gained through meetings and other interactions with WTAM and the Sub-Advisers, of the Funds and the services provided to the Funds by WTAM and the Sub-Advisers. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the Funds and the investment advisory and other services provided under the Agreements. In light of the foregoing, the Board, including a majority of the Independent Trustees, determined to approve the renewal of the Agreements.
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General Information (unaudited)
Proxy Voting Policies, Procedures and Record
A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.
The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent
12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.
Shareholder Reports and Quarterly Portfolio Disclosure
The Funds file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an exhibit to their reports on Form N-PORT. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: [email protected].
Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.
The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.
Frequency Distribution of Discounts & Premiums
Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com.
WisdomTree Trust | 61 |
The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.
There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.
Indexes are unmanaged and you cannot invest directly in an index.
Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.
This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.
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WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S. only.
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