WisdomTree Strategic Corporate
ALTAR
Score™
2.5% info Median Credit
S&P/Moody's
BBB/Baa2
 
Yield to
Maturity
3.6% Current
Yield
4.7%
Macaulay
Duration
6.3 yrs Modified
Duration
6.2%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
WisdomTree Global Corporate Bond Fund is an exchange-traded fund incorporated in the USA. The fund seeks to provide a high level of total return consisting of both income and capital appreciation through investments in the debt of global corporate issuers.

FUND BASICS
Category Corporate
Fund Sponsor WisdomTree Asset Mgmt
Website www.wisdomtree.com
Inception date Jan 31, 2013
Assets (mns) $8
Currency USD
Expense ratio 50 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian State Street Bank & Trust Co
Weighting Proprietary
Index replication Not Applicable

ISSUER TYPE BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents 72
No of distinct issuers 67
Inflation protected 0%
Variable/Fixed coupon 14% /86%
Non-standard maturity (callable, etc.) 25%

TOP TEN HOLDINGS
COOPERATIEVE CENTRALE 5.3% 8/04/45 3.7 %
ROCK-TENN COMPANY 4.5% 3/01/19 3.6 %
BANK OF AMERICA CORPO 3.3% 1/11/23 3.4 %
BARCLAYS BANK PLC 7.6% 11/21/22 3.0 %
ROYAL BANK OF SCOTLAN 6.1% 12/15/22 3.0 %
GOLDMAN SACHS GROUP, 5.8% 1/24/22 2.9 %
INTESA SANPAOLO S.P.A 5.0% 6/26/24 2.8 %
NUMERICABLE-SFR SA 6.0% 5/15/22 2.8 %
GENERAL ELECTRIC CAPI 6.9% 1/10/39 2.7 %
CATERPILLAR INC. 3.9% 5/27/21 2.6 %
   
TOTAL 30.4 %

TOP ISSUERS
COOPERATIEVE CENTRALE RAIFFEISEN-B...3.7%
ROCK-TENN COMPANY3.6%
BANK OF AMERICA CORPORATION3.4%
BARCLAYS BANK PLC3.0%
ROYAL BANK OF SCOTLAND PLC3.0%

TOP COUNTRY EXPOSURE
UNITED STATES 62.6 %
BRITAIN 12.3 %
NETHERLANDS 4.5 %
FRANCE 3.7 %
ITALY 2.8 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
3.3% 5.3% -- -- 3.9%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond 0.90 45%
S&P500 0.18 23%
MSCI EAFE 0.20 36%
MSCI Emg. Mkts. 0.15 39%

Technical Indicators
Recent close $75.27
Tracking Error 0.00
Avg. Premium/Discount 0.00%
Annualized volatility n/a %
Relative strength (RSI) 60
Liquidity measures
Avg. volume (thou.) 75
Avg. daily value traded (mns) $6
Turnover 75.0%
Bid/Ask (% of price) 0.73

Distributions


Yield Comparison

*Fund Category: CORPORATE

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
CRDT 6.3 yrs Category
Avg.*
4.5 yrs
 

Modified Duration info
 
CRDT 6.2% Category
Avg.*
4.4%

RATE SENSITIVITY ANALYSIS info
Change
in YTM
New
YTM
Est. Price
Change
Est. New
Price
+300 bp 6.63% -13.6% $65.02
+200 bp 5.63% -10.2% $67.62
+150 bp 5.13% -8.0% $69.23
+100 bp 4.63% -5.6% $71.04
+75 bp 4.38% -4.3% $72.02
+50 bp 4.13% -2.9% $73.05
+25 bp 3.88% -1.5% $74.14
0 bp 3.63% 0% $75.27
-25 bp 3.38% 1.6% $76.45
-50 bp 3.13% 3.2% $77.69
-75 bp 2.88% 4.9% $78.97
-100 bp 2.63% 6.7% $80.31
-150 bp 2.13% 10.4% $83.13
-200 bp 1.63% 14.5% $86.16
-300 bp 0.63% 23.3% $92.82

*Fund Category: CORPORATE

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 363 bp
Less: Annual "default factor" info 68 bp
Less: Expense ratio 50 bp
Equals: ALTAR Score 2.45 %
 

Average ALTAR Score™ by Category
Aggregate 1.6%
Corporate 1.9%
Emerging Market 3.9%
Government 1.4%
Inflation Protected 1.4%
Mortgage 2.8%
Municipals 2.4%
 
*Note: The WisdomTree Strategic Corporate is classified as a Corporate fund.

 

Our estimate of the impact of potential defaults on investor returns, based on historical default and recovery rates for bonds of similar credit rating and maturities.
See RATING tab for calculations of ALTAR Score™
Estimate of fund sensitivity to interest rate changes based on modified duration and convexity adjustment applied to underlying bonds. Note: Less meaningful for inflation-indexed bonds.
Adds expected inflation to real YTM for inflation-linked bonds so that all instruments are compared on a nominal basis
Weighted-average term to maturity of the cash flows from a bond. All else being equal, bonds of longer duration are more sensitive to changes in interest rates than bonds of shorter duration.
Approximation of the change in bond prices given a 100 basis point shift in interest rates. A better estimate, particularly for larger moves in interest rates, is provided by the Rate Sensitivity Analysis below.