Intrinsic value of WisdomTree Investments - WETF

Previous Close

$7.89

  Intrinsic Value

$21.88

stock screener

  Rating & Target

str. buy

+177%

Previous close

$7.89

 
Intrinsic value

$21.88

 
Up/down potential

+177%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as WETF.

We calculate the intrinsic value of WETF stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  33.00
  30.20
  27.68
  25.41
  23.37
  21.53
  19.88
  18.39
  17.05
  15.85
  14.76
  13.79
  12.91
  12.12
  11.41
  10.76
  10.19
  9.67
  9.20
  8.78
  8.40
  8.06
  7.76
  7.48
  7.23
  7.01
  6.81
  6.63
  6.47
  6.32
Revenue, $m
  316
  411
  525
  658
  812
  987
  1,183
  1,401
  1,640
  1,900
  2,180
  2,481
  2,801
  3,140
  3,498
  3,875
  4,270
  4,682
  5,113
  5,562
  6,030
  6,516
  7,022
  7,547
  8,093
  8,660
  9,250
  9,863
  10,501
  11,164
Variable operating expenses, $m
  235
  306
  390
  489
  603
  733
  878
  1,040
  1,217
  1,409
  1,616
  1,838
  2,076
  2,327
  2,593
  2,872
  3,164
  3,470
  3,790
  4,123
  4,469
  4,829
  5,204
  5,593
  5,998
  6,419
  6,856
  7,310
  7,783
  8,274
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  235
  306
  390
  489
  603
  733
  878
  1,040
  1,217
  1,409
  1,616
  1,838
  2,076
  2,327
  2,593
  2,872
  3,164
  3,470
  3,790
  4,123
  4,469
  4,829
  5,204
  5,593
  5,998
  6,419
  6,856
  7,310
  7,783
  8,274
Operating income, $m
  80
  105
  134
  169
  209
  254
  305
  361
  423
  490
  564
  642
  725
  813
  906
  1,003
  1,105
  1,212
  1,324
  1,440
  1,561
  1,687
  1,818
  1,954
  2,095
  2,242
  2,394
  2,553
  2,718
  2,890
EBITDA, $m
  83
  108
  138
  173
  214
  260
  311
  369
  431
  500
  574
  653
  737
  826
  921
  1,020
  1,124
  1,232
  1,346
  1,464
  1,587
  1,715
  1,848
  1,986
  2,130
  2,279
  2,434
  2,595
  2,763
  2,938
Interest expense (income), $m
  0
  0
  1
  2
  4
  6
  8
  11
  13
  16
  20
  23
  27
  31
  36
  41
  45
  51
  56
  62
  68
  74
  81
  88
  95
  102
  110
  117
  126
  134
  143
Earnings before tax, $m
  80
  104
  132
  165
  203
  246
  294
  348
  407
  471
  541
  615
  694
  777
  865
  958
  1,054
  1,156
  1,262
  1,372
  1,487
  1,606
  1,730
  1,859
  1,993
  2,132
  2,277
  2,427
  2,584
  2,747
Tax expense, $m
  22
  28
  36
  45
  55
  66
  79
  94
  110
  127
  146
  166
  187
  210
  234
  259
  285
  312
  341
  370
  401
  434
  467
  502
  538
  576
  615
  655
  698
  742
Net income, $m
  59
  76
  96
  120
  148
  180
  215
  254
  297
  344
  395
  449
  506
  567
  631
  699
  770
  844
  921
  1,001
  1,085
  1,172
  1,263
  1,357
  1,455
  1,556
  1,662
  1,772
  1,886
  2,005

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  253
  329
  421
  527
  651
  791
  948
  1,122
  1,314
  1,522
  1,747
  1,988
  2,244
  2,516
  2,803
  3,105
  3,421
  3,752
  4,097
  4,457
  4,832
  5,221
  5,626
  6,047
  6,485
  6,939
  7,412
  7,903
  8,414
  8,946
Adjusted assets (=assets-cash), $m
  253
  329
  421
  527
  651
  791
  948
  1,122
  1,314
  1,522
  1,747
  1,988
  2,244
  2,516
  2,803
  3,105
  3,421
  3,752
  4,097
  4,457
  4,832
  5,221
  5,626
  6,047
  6,485
  6,939
  7,412
  7,903
  8,414
  8,946
Revenue / Adjusted assets
  1.249
  1.249
  1.247
  1.249
  1.247
  1.248
  1.248
  1.249
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
  1.248
Average production assets, $m
  23
  30
  39
  49
  60
  73
  88
  104
  121
  141
  161
  184
  207
  232
  259
  287
  316
  347
  378
  412
  446
  482
  520
  558
  599
  641
  684
  730
  777
  826
Working capital, $m
  -31
  -41
  -52
  -65
  -80
  -98
  -117
  -139
  -162
  -188
  -216
  -246
  -277
  -311
  -346
  -384
  -423
  -464
  -506
  -551
  -597
  -645
  -695
  -747
  -801
  -857
  -916
  -976
  -1,040
  -1,105
Total debt, $m
  21
  46
  75
  110
  149
  195
  245
  301
  363
  430
  502
  580
  662
  750
  842
  940
  1,041
  1,148
  1,259
  1,375
  1,496
  1,621
  1,752
  1,887
  2,028
  2,174
  2,326
  2,485
  2,649
  2,820
Total liabilities, $m
  81
  106
  135
  170
  210
  255
  305
  361
  423
  490
  562
  640
  723
  810
  903
  1,000
  1,102
  1,208
  1,319
  1,435
  1,556
  1,681
  1,812
  1,947
  2,088
  2,234
  2,387
  2,545
  2,709
  2,881
Total equity, $m
  172
  223
  285
  358
  441
  536
  643
  761
  891
  1,032
  1,184
  1,348
  1,522
  1,706
  1,900
  2,105
  2,320
  2,544
  2,778
  3,022
  3,276
  3,540
  3,815
  4,100
  4,397
  4,705
  5,025
  5,358
  5,705
  6,065
Total liabilities and equity, $m
  253
  329
  420
  528
  651
  791
  948
  1,122
  1,314
  1,522
  1,746
  1,988
  2,245
  2,516
  2,803
  3,105
  3,422
  3,752
  4,097
  4,457
  4,832
  5,221
  5,627
  6,047
  6,485
  6,939
  7,412
  7,903
  8,414
  8,946
Debt-to-equity ratio
  0.120
  0.210
  0.260
  0.310
  0.340
  0.360
  0.380
  0.400
  0.410
  0.420
  0.420
  0.430
  0.440
  0.440
  0.440
  0.450
  0.450
  0.450
  0.450
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.470
Adjusted equity ratio
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  59
  76
  96
  120
  148
  180
  215
  254
  297
  344
  395
  449
  506
  567
  631
  699
  770
  844
  921
  1,001
  1,085
  1,172
  1,263
  1,357
  1,455
  1,556
  1,662
  1,772
  1,886
  2,005
Depreciation, amort., depletion, $m
  3
  3
  4
  4
  5
  6
  6
  7
  8
  10
  9
  11
  12
  14
  15
  17
  18
  20
  22
  24
  26
  28
  30
  32
  35
  37
  40
  42
  45
  48
Funds from operations, $m
  61
  79
  100
  125
  153
  185
  221
  261
  305
  353
  404
  460
  518
  581
  647
  716
  788
  864
  943
  1,025
  1,111
  1,200
  1,293
  1,390
  1,490
  1,594
  1,702
  1,814
  1,931
  2,053
Change in working capital, $m
  -8
  -9
  -11
  -13
  -15
  -17
  -19
  -22
  -24
  -26
  -28
  -30
  -32
  -34
  -35
  -37
  -39
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -66
Cash from operations, $m
  69
  88
  111
  138
  168
  203
  241
  283
  329
  379
  432
  489
  550
  614
  682
  753
  827
  905
  986
  1,070
  1,157
  1,249
  1,343
  1,442
  1,544
  1,650
  1,760
  1,875
  1,995
  2,119
Maintenance CAPEX, $m
  -1
  -1
  -2
  -2
  -3
  -3
  -4
  -5
  -6
  -7
  -8
  -9
  -11
  -12
  -14
  -15
  -17
  -18
  -20
  -22
  -24
  -26
  -28
  -30
  -32
  -35
  -37
  -40
  -42
  -45
New CAPEX, $m
  -6
  -7
  -8
  -10
  -11
  -13
  -15
  -16
  -18
  -19
  -21
  -22
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -37
  -39
  -40
  -42
  -44
  -45
  -47
  -49
Cash from investing activities, $m
  -7
  -8
  -10
  -12
  -14
  -16
  -19
  -21
  -24
  -26
  -29
  -31
  -35
  -37
  -41
  -43
  -46
  -49
  -52
  -55
  -59
  -62
  -65
  -69
  -72
  -77
  -81
  -85
  -89
  -94
Free cash flow, $m
  62
  80
  101
  126
  154
  186
  222
  262
  305
  353
  403
  458
  516
  577
  642
  710
  781
  856
  934
  1,015
  1,099
  1,187
  1,278
  1,372
  1,471
  1,573
  1,679
  1,790
  1,905
  2,025
Issuance/(repayment) of debt, $m
  20
  25
  29
  34
  40
  45
  51
  56
  62
  67
  72
  78
  83
  88
  92
  97
  102
  107
  111
  116
  121
  125
  130
  136
  141
  146
  152
  158
  165
  171
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  20
  25
  29
  34
  40
  45
  51
  56
  62
  67
  72
  78
  83
  88
  92
  97
  102
  107
  111
  116
  121
  125
  130
  136
  141
  146
  152
  158
  165
  171
Total cash flow (excl. dividends), $m
  83
  105
  130
  160
  194
  231
  273
  318
  367
  420
  476
  535
  598
  665
  734
  807
  883
  962
  1,045
  1,130
  1,220
  1,312
  1,408
  1,508
  1,612
  1,719
  1,832
  1,948
  2,069
  2,196
Retained Cash Flow (-), $m
  -43
  -52
  -62
  -72
  -84
  -95
  -107
  -118
  -130
  -141
  -152
  -163
  -174
  -184
  -195
  -205
  -214
  -224
  -234
  -244
  -254
  -264
  -275
  -285
  -297
  -308
  -320
  -333
  -346
  -360
Prev. year cash balance distribution, $m
  64
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  104
  53
  69
  88
  110
  136
  166
  200
  237
  278
  323
  372
  424
  480
  540
  603
  669
  738
  811
  887
  966
  1,048
  1,134
  1,223
  1,315
  1,411
  1,511
  1,615
  1,723
  1,835
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  100
  48
  60
  72
  85
  99
  112
  125
  136
  146
  153
  159
  161
  161
  158
  153
  145
  136
  125
  113
  100
  87
  74
  62
  51
  41
  32
  25
  19
  14
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

WisdomTree Investments, Inc. is an asset management company that focuses on exchange-traded funds (ETFs). The Company's family of ETFs includes funds that track its own indexes, funds that track third party indexes and actively managed funds. It operates as an exchange traded products sponsor and asset manager providing investment advisory services in the United States, Europe, Canada and Japan. These activities are reported in its U.S. Business segment that comprises its the United States business and Japan sales office, which primarily engages in selling its United States listed ETFs to Japanese institutions, and International Business segment, that comprises its European business and Canadian business. Its United States listed products include International Hedged Equity ETFs, Equity ETFs, Fixed Income ETFs, Currency ETFs, Alternative Strategy ETFs and Commodity ETFs. Its portfolio of Non-the United States listed products include WisdomTree UCITS ETFs, Boost ETPs and Canadian ETFs.

FINANCIAL RATIOS  of  WisdomTree Investments (WETF)

Valuation Ratios
P/E Ratio 41.4
Price to Sales 4.9
Price to Book 5.4
Price to Tangible Book
Price to Cash Flow 19.6
Price to Free Cash Flow 19.9
Growth Rates
Sales Growth Rate -26.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -66.7%
Cap. Spend. - 3 Yr. Gr. Rate -30.1%
Financial Strength
Quick Ratio NaN
Current Ratio 1.4
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 9.6%
Ret/ On Assets - 3 Yr. Avg. 24.8%
Return On Total Capital 11.9%
Ret/ On T. Cap. - 3 Yr. Avg. 30.6%
Return On Equity 11.9%
Return On Equity - 3 Yr. Avg. 30.6%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 26%
EBITDA Margin - 3 Yr. Avg. 37.6%
Operating Margin 25.1%
Oper. Margin - 3 Yr. Avg. 37.1%
Pre-Tax Margin 25.6%
Pre-Tax Margin - 3 Yr. Avg. 37.2%
Net Profit Margin 11.9%
Net Profit Margin - 3 Yr. Avg. 23.9%
Effective Tax Rate 53.6%
Eff/ Tax Rate - 3 Yr. Avg. 37.6%
Payout Ratio 169.2%

WETF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WETF stock intrinsic value calculation we used $237.399 million for the last fiscal year's total revenue generated by WisdomTree Investments. The default revenue input number comes from 0001 income statement of WisdomTree Investments. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WETF stock valuation model: a) initial revenue growth rate of 33% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for WETF is calculated based on our internal credit rating of WisdomTree Investments, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of WisdomTree Investments.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WETF stock the variable cost ratio is equal to 74.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for WETF stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for WisdomTree Investments.

Corporate tax rate of 27% is the nominal tax rate for WisdomTree Investments. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WETF stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WETF are equal to 7.4%.

Life of production assets of 17.2 years is the average useful life of capital assets used in WisdomTree Investments operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WETF is equal to -9.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $192.951 million for WisdomTree Investments - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 136.393 million for WisdomTree Investments is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of WisdomTree Investments at the current share price and the inputted number of shares is $1.1 billion.

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COMPANY NEWS

▶ WisdomTree ETFs Declare Distributions   [Aug-21-18 08:30AM  GlobeNewswire]
▶ WisdomTree Launches Two Active Multifactor ETFs   [Aug-15-18 04:46PM  Zacks]
▶ A New Spin On The Old 60/40 Split   [Aug-06-18 01:07PM  Benzinga]
▶ [$$] Quiet Life for Japan   [Aug-01-18 08:42AM  Financial Times]
▶ WisdomTree ETFs Declare Distributions   [08:30AM  GlobeNewswire]
▶ How WisdomTree ETFs Are Shaking Up Fixed Income   [Jul-11-18 07:31PM  Bloomberg Video]
▶ WisdomTree Expands Offering on Schwab ETF OneSource   [Jul-10-18 03:55PM  GlobeNewswire]
▶ [$$] Cocos and the evolution of an asset class   [Jun-27-18 05:45AM  Financial Times]
▶ WisdomTree ETFs Declare Distributions   [Jun-25-18 08:30AM  GlobeNewswire]
▶ WisdomTree ETFs Declare Distributions   [May-22-18 08:30AM  GlobeNewswire]
▶ A Play On The Growing ETF Industry   [May-02-18 12:29PM  Benzinga]
▶ [$$] In Case You Missed It: Inflation   [Apr-12-18 08:17AM  Financial Times]
▶ [$$] Movers & shakers: April 2   [Apr-01-18 10:30PM  Financial Times]
▶ WisdomTree ETFs Declare Distributions   [Mar-20-18 08:30AM  GlobeNewswire]
▶ [$$] Land scandal sours Shinzo Abes pitch to investors   [Mar-13-18 05:00AM  Financial Times]
▶ A Europe ETF Right For The Times   [Feb-26-18 01:27PM  Benzinga]
▶ WisdomTree ETFs Declare Distributions   [Feb-20-18 08:30AM  GlobeNewswire]
▶ WisdomTree Announces Changes to ETF Family   [Feb-16-18 04:30PM  GlobeNewswire]
▶ Mirae to buy Global X, sponsor of popular robotics ETF   [Feb-14-18 12:32PM  MarketWatch]
▶ WisdomTree Keeps Seeing Bottom-Line Struggles   [Feb-02-18 09:50AM  Motley Fool]
▶ WisdomTree ETFs Declare Distributions   [Jan-23-18 08:46AM  GlobeNewswire]
▶ WisdomTree Expands Offering on Schwab ETF OneSource   [Jan-03-18 10:15AM  GlobeNewswire]
▶ WisdomTree ETFs Declare Distributions   [Dec-26-17 08:30AM  GlobeNewswire]
▶ WisdomTree Introduces New China, Income ETFs   [Dec-24-17 09:15AM  Benzinga]
▶ 9 Small-Cap Stocks to Buy for 2018   [Dec-19-17 03:03PM  InvestorPlace]
▶ How to Hedge ETF Currency Risk   [Dec-05-17 12:03PM  Bloomberg]
▶ PEP: Proper European Positioning For 2018   [Nov-30-17 09:48AM  Benzinga]
▶ WisdomTree ETFs Declare Distributions   [Nov-21-17 08:30AM  GlobeNewswire]
▶ WisdomTree: Stop Trying So Hard!   [Nov-14-17 11:54AM  Barrons.com]

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