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WisdomTree Tweaks Seven Equity ETFs

June 21st, 2011

WisdomTree completed a number of previously announced changes to its ETF lineup this week, making minor changes to seven of the company’s equity funds. Four ETFs received new tickers as a result of the overhaul:

  • Global ex-U.S. Real Estate Fund (DRW): The investment objective of this fund, previously known as the International Real Estate Fund, was broadened to include emerging markets. DRW had focused almost exclusively on developed markets outside the U.S.

  • Global ex-U.S. Utility Fund (DBU): This ETF, previously known as the International Utilities Sector Fund, underwent a similar change. Emerging markets exposure was added to what had been a developed ex-U.S. product.
  • Commodity Country Equity Fund (CCXE): This fund previously traded as the International Basic Materials Sector Fund (DBN). The new ETF will implement a broader commodity-focused equity strategy; the underlying WisdomTree Commodity Country Equity Index is a fundamentally-weighted benchmark that measures the performance of dividend-paying stocks from “commodity countries.” Those countries include Australia, Brazil, Canada, Chile, New Zealand, Norway, Russia and South Africa, each of which receives a weighting of about 12.5% in the index [More Ideas For "Contango-Free" Commodity Access].
  • Global Natural Resources Fund (GNAT): This ETF was previously known as the International Energy Sector Fund (DKA); the new version will offer more diversified exposure to companies engaged in energy and natural resource-related activities globally. The new GNAT will also now include exposure to emerging markets.
  • Asia Pacific ex-Japan Fund (AXJL): This ETF replaces the Pacific ex-Japan Total Dividend Fund (DND), which had focused primarily on developed Asian economies. The new AXJL will similarly include stocks listed in countries such as Australia and Hong Kong, but will now include emerging markets as well. The underlying WisdomTree Asia Pacific ex-Japan Index includes exposure to China, Malaysia, Thailand, Indonesia, India, and the Philippines, along with a handful of developed Asian markets.
  • Australia Dividend Fund (AUSE): This ETF had previously been the Pacific ex-Japan Equity Income Fund (DNH). Though that ETF included exposure to New Zealand, Singapore, and Hong Kong, close to 90% of assets were in Australian stocks. The change made this week converts this fund to a pure play Australia ETF. There are now three ETFs offering exposure to Australian stocks; AUSE joins the large cap heavy EWA and small cap-focused KROO. The new ETF will be linked to a dividend-weighted benchmark; the underlying benchmark has a dividend yield in the neighborhood of 5.5%, and spreads assets relatively evenly across large caps, mid caps, and small cap stocks [Three ETFs To Invest In The World's Top Stock Market].
  • Global ex-U.S. Growth Fund (DNL): The only change to this ETF is the name; previously known as the World ex-U.S. Growth Fund, the ticker and underlying index will remain the same.

Upcoming Changes

WisdomTree has more changes in the works to a couple of other popular products. Effective later this month, the WisdomTree Dreyfus Euro Fund (NYSE:EU) will convert to the WisdomTree Dreyfus Euro Debt Fund. The revised fund will provide exposure to debt of issuers in the European Union denominated in euro, becoming the first pure play European bond ETF [Three International Bond ETFs For Europe's Bounceback].

The company will make similar tweaks to its New Zealand Dollar Fund (NYSE:BNZ). That ETF currently offers exposure to money market accounts denominated in New Zealand dollars. The ETF will be renamed the Australia & New Zealand Debt Fund, and will offer exposure to debt of issuers in Australia and New Zealand that is denominated in the local currencies. There are not currently any ETFs offering targeted exposure to Australian or New Zealand bonds; these countries receive minor allocations in some of the products in the International Government Bonds ETFdb Category.

According to an earlier press release from WisdomTree, the conversion of BNZ is expected to take place in late August.

Written By Michael Johnston From ETF Database   Disclosure: No positions at time of writing.

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NYSE:AUSE, NYSE:AXJL, NYSE:CCXE, NYSE:DBU, NYSE:DNL, NYSE:DRW, NYSE:GNAT


 

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