XSOE
WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF – Acc
The Fund seeks to track the price and yield performance, before fees and expenses of the WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened Index. Learn more about the Index that XSOE is designed to track.
Why Invest?
- Gain diversified exposure to non-state-owned emerging market equity which meet WisdomTree’s ESG (environmental, social and governance) criteria
- Use to complement emerging market exposure while neutralising companies potentially influenced by government decisions
- The ETF is physically backed and UCITS compliant
Potential Risks
- Although the Index was created to select companies with a relatively low government ownership exposure, there is no guarantee this objective will be achieved
- An investment in equities may experience high volatility and should be considered as a longer term investment
- Investment risk may be concentrated in specific sectors, countries, companies or currencies
- This list does not cover all risks-further risks are disclosed in the KIID and Prospectus
Overview
Fund Overview | |
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Asset Class | Equities |
Use of Income | Accumulating |
Base Currency | USD |
Dividend Frequency | N/A |
Inception Date | 23 Aug 2021 |
Exchange Ticker | XSOE |
Index Name | WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened Index |
TER | 0.32% |
Structure | |
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Legal Form | Irish Collective Asset-management Vehicle (ICAV) |
Fund Umbrella | WisdomTree Issuer ICAV |
Domicile | Ireland |
Structure | Open-ended Exchange Traded Fund |
Replication Method | Physical (optimised) |
Financial Year End | 31 December |
UCITS Compliant | Compliant |
Further Legal and Tax Information | |
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ISA | Eligible |
SIPP | Eligible |
UCITS Eligible | Eligible |
UK Reporting Status | Yes |
Key Service Providers | |
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Custodian | State Street Custodial Services (Ireland) Limited |
Administrator | State Street Fund Services (Ireland) Limited |
Fund Manager | Irish Life Investment Managers |
Auditor | Ernst & Young Ireland |
Market Capitalization | As of 28 juin 2024 |
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Total Market Capitalization ($ Trillion) | 9.59 |
Fund MarketCap Breakdown | |
Large Cap (> $10 Billion) | 73.32% |
Mid Cap (≥ $2 Billion and ≤ $10 Billion) | 25.96% |
Small Cap (< $2 Billion) | 0.72% |
Fund Characteristics | As of 28 juin 2024 |
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*Dividend Yield | 1.95 |
Price/Earnings | 20.89 |
Estimated Price/Earnings | 15.63 |
Price/Book | 2.20 |
Price/Sales | 1.60 |
Price/Cash Flow | 9.76 |
Gross Buyback Yield | 0.50 |
Net Buyback Yield | 0.15 |
Listings & Codes
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Holdings
Sector Breakdown
Country Allocation
Country | Weight |
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1. India | 23.62% |
2. China | 21.78% |
3. Taiwan | 20.39% |
4. South Korea | 12.17% |
5. Saudi Arabia | 4.11% |
6. Brazil | 3.52% |
7. South Africa | 2.46% |
8. Mexico | 2.42% |
9. Indonesia | 1.89% |
10. Thailand | 1.48% |
11. United States | 1.21% |
12. Malaysia | 1.15% |
13. Poland | 1.02% |
14. Turkey | 1.01% |
15. Philippines | 0.60% |
16. Hong Kong | 0.42% |
17. Chile | 0.29% |
18. Hungary | 0.27% |
19. Czech Republic | 0.14% |
20. Argentina | 0.06% |
21. Russia | 0.00% |
22. Kazakhstan | 0.00% |
23. United Kingdom | 0.00% |
Index Details
The Index is designed to track the performance of emerging markets stocks that are not state-owned enterprises, which is defined as government ownership of more than 20% of outstanding shares of companies. The Index also excludes companies which do not meet WisdomTree’s ESG (environmental, social and governance) criteria.
The Index employs a modified float-adjusted market capitalization weighting process to target the weights of countries in the universe prior to the removal of state-owned enterprises while also limiting sector deviations to 3% of the starting universe.
Index Details | |
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Index Name | WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened Index |
Currency | USD |
Index Provider | WisdomTree, Inc |
Bloomberg Ticker | EMXSOEUT |
Leverage Factor | N/A |
Documents and Links |
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Responsible Investing
SFDR Disclosure
The EU Sustainable Finance Disclosures Regulation (SFDR) took effect on 10 March 2021 as part of the EU Action Plan on Sustainable Finance. The SFDR lays down harmonised sustainability related disclosure rules for EU financial market participants and advisors and requires certain sustainability disclosures to be made for financial products which promote environmental or social characteristics (Article 8 SFDR) and funds which have a sustainable investment objective (Article 9 SFDR).
There are different SFDR product categorisations for these sustainability disclosure requirements:
+ Article 6 products: require disclosures relating to the manner in which sustainability risks are integrated into the decision-making process.
+ Article 8 products: promote, among other characteristics, environmental or social characteristics or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.
+ Article 9 products: have sustainable investment as their objective
Please refer to EU regulation guidelines for more details: https://www.esma.europa.eu/sections/sustainable-finance
SFDR categorisations | |
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SFDR Disclosure | Article 8 |
ESG Characteristics
The fund tracks an index which seeks to exclude from the eligible investment universe companies that (i) violate, certain commonly accepted international norms and standards, such as United Nations and the Organisation for Economic Co-operation and Development (OECD) guidelines, (ii) are involved in controversial weapons such as anti-personnel mines and cluster munitions, (iii) are significantly involved in the tobacco industry, (iv) are significantly involved in thermal coal activity, such as coal mining and exploration and coal-based power generation, (v) are significantly involved in unconventional oil and gas exploration/production, such as oil sands, Arctic oil and gas or shale energy, (vi) do not meet such other ESG criteria such as significant involvement in small arms, as detailed in the Index methodology. Visit our ESG Hub to learn more about Wisdom Tree's ESG approach.
WisdomTree believes the risk that state owned enterprises (SOE) have on a portfolio is often overlooked, especially in emerging markets (EM). Non-SOEs offer an explicit tilt away from companies with poor corporate governance that tend to prevail in SOEs. The WisdomTree Emerging Markets ex-State-Owned Enterprise ESG Screened Strategy provides a unique opportunity for investors to tap into the long term growth opportunity within Emerging Markets by offering a targeted exposure to companies with less than a 20% ownership by a government entity.
View our XSOE investment case for more information
Visit our ESG Hub to learn more about WisdomTree's ESG approach.
MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics and Ratings (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 31,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted to, nor received approval from, the US SEC or any other regulatory body. None of the Information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information.
Sustainability Characteristics | |
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MSCI ESG Fund Ratings (AAA-CCC) | A |
Documents
DISCLAIMERS
The products discussed in this document are issued by WisdomTree Issuer ICAV (“WT Issuer”). WT Issuer is an umbrella investment company with variable capital having segregated liability between its funds organised under the laws of Ireland as an Irish Collective Asset-management Vehicle and authorised by the Central Bank of Ireland (“CBI”). WT Issuer is organised as an Undertaking for Collective Investment in Transferable Securities (“UCITS”) under the laws of Ireland and shall issue a separate class of shares ("Shares”) representing each fund. Investors should read the prospectus of WT Issuer (“WT Prospectus”) before investing and should refer to the section of the WT Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the Shares.
French Investors should note that, relative to the expectations of the Autorité des Marchés Financiers, the name of the Fund is disproportionate to the consideration of non-financial criteria in its investment policy