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Wisdomtree Trust Form N-CSR Filed 2019-09-03

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Wisdomtree Trust Form N-CSR Filed 2019-09-03 SECURITIES AND EXCHANGE COMMISSION FORM N-CSR Certified annual shareholder report of registered management investment companies filed on Form N-CSR Filing Date: 2019-09-03 | Period of Report: 2019-06-30 SEC Accession No. 0001193125-19-236194 (HTML Version on secdatabase.com) FILER WisdomTree Trust Mailing Address Business Address 245 PARK AVENUE 245 PARK AVENUE CIK:1350487| IRS No.: 000000000 | State of Incorp.:DE | Fiscal Year End: 0331 35TH FLOOR 35TH FLOOR Type: N-CSR | Act: 40 | File No.: 811-21864 | Film No.: 191071491 NEW YORK NY 10167 NEW YORK NY 10167 212.801.2080 Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-21864 WisdomTree Trust (Exact name of registrant as specified in charter) 245 Park Avenue, 35th Floor New York, NY 10167 (Address of principal executive offices) (Zip code) The Corporation Trust Company 1209 Orange Street Wilmington, DE 19801 (Name and address of agent for service) Registrants telephone number, including area code: (866) 909-9473 Date of fiscal year end: June 30 Date of reporting period: June 30, 2019 Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (OMB) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507. Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents Item 1. Reports to Stockholders. The Reports to Shareholders are attached hereto. Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents WisdomTree Trust Annual Report June 30, 2019 International Equity ETFs: WisdomTree Dynamic Currency Hedged International Equity Fund (DDWM) WisdomTree Dynamic Currency Hedged International Quality Dividend Growth Fund (DHDG) WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (DDLS) WisdomTree Emerging Markets Dividend Fund (DVEM) WisdomTree Europe Multifactor Fund (EUMF) (formerly, WisdomTree Dynamic Currency Hedged Europe Equity Fund (DDEZ)) WisdomTree Global ex-Mexico Equity Fund (XMX) WisdomTree ICBCCS S&P China 500 Fund (WCHN) WisdomTree Japan Multifactor Fund (JAMF) (formerly, WisdomTree Dynamic Currency Hedged Japan Equity Fund (DDJP)) Fixed Income ETFs: WisdomTree Fundamental U.S. Corporate Bond Fund (WFIG) WisdomTree Fundamental U.S. High Yield Corporate Bond Fund (WFHY) WisdomTree Fundamental U.S. Short-Term Corporate Bond Fund (SFIG) WisdomTree Fundamental U.S. Short-Term High Yield Corporate Bond Fund (SFHY) Alternative ETFs: WisdomTree Dynamic Bearish U.S. Equity Fund (DYB) WisdomTree Dynamic Long/Short U.S. Equity Fund (DYLS) Asset Allocation ETFs: WisdomTree 90/60 U.S. Balanced Fund (NTSX) WisdomTree Balanced Income Fund (WBAL) IMPORTANT NOTE: Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the WisdomTree Funds annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, annual and semi-annual shareholder reports will be available on the WisdomTree Funds website (www.wisdomtree.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank). You may elect to receive all future reports in paper free of charge. Please contact your financial intermediary to request to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account. Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents Table of Contents Market Environment Overview (unaudited) 1 Information about Performance and Shareholder Expense Examples (unaudited) 5 Managements Discussion of Funds Performance (unaudited) 6 Description of Indexes (unaudited) 22 Schedules of Investments WisdomTree Dynamic Currency Hedged International Equity Fund 26 WisdomTree Dynamic Currency Hedged International Quality Dividend Growth Fund 39 WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund 43 WisdomTree Emerging Markets Dividend Fund 57 WisdomTree Europe Multifactor Fund 67 WisdomTree Global ex-Mexico Equity Fund 71 WisdomTree ICBCCS S&P China 500 Fund 78 WisdomTree Japan Multifactor Fund 85 WisdomTree Fundamental U.S. Corporate Bond Fund 89 WisdomTree Fundamental U.S. High Yield Corporate Bond Fund 92 WisdomTree Fundamental U.S. Short-Term Corporate Bond Fund 96 WisdomTree Fundamental U.S. Short-Term High Yield Corporate Bond Fund 99 WisdomTree Dynamic Bearish U.S. Equity Fund 102 WisdomTree Dynamic Long/Short U.S. Equity Fund 105 WisdomTree 90/60 U.S. Balanced Fund 108 WisdomTree Balanced Income Fund 115 Statements of Assets and Liabilities 116 Statements of Operations 120 Statements of Changes in Net Assets 124 Financial Highlights 130 Notes to Financial Statements 138 Report of Independent Registered Public Accounting Firm 158 Approval of Investment Advisory and Sub-Advisory Agreements (unaudited) 160 Trustees and Officers Information (unaudited) 163 Supplemental Information (unaudited) 165 General Information (unaudited) 167 WisdomTree is a registered mark of WisdomTree Investments, Inc. and is licensed for use by the WisdomTree Trust. Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents Market Environment Overview (unaudited) U.S. Market The U.S. equity market, as measured by the S&P 500® Index, returned +10.42% for the twelve month fiscal period that ended June 30, 2019 (the period). U.S. equities experienced positive returns through September 2018, driven by robust corporate profits and economic growth, the benefit of U.S. corporate tax reform, gradual monetary policy normalization, as well as positive consumer and business survey data. The positive trend in U.S. equities reversed in the fourth quarter of 2018 with the S&P 500® Index experiencing a market correction of -13.52%, resulting in the first calendar year loss for the index since the 2008 financial crisis. Key drivers of negative returns and heightened volatility in the fourth quarter of 2018 were concerns about the sustainability of U.S. corporate earnings growth, U.S. credit quality, as well as fears of slowing global trade and economic growth. In the last six months of 2018, the U.S. Federal Reserve (the Fed) raised the benchmark rate two times, equating to a cumulative increase of 0.50%. Meanwhile, the Consumer Price Index decreased from its 2018 peak and U.S. inflation expectations, as measured by the difference between the nominal and real 10-year U.S. Treasury yields, fell below the +2.0% threshold, a signal from the market that the additional Fed rate hikes in late 2018 may not have been warranted. In the first quarter of 2019 the U.S. equity market, as measured by the S&P 500® Index, rebounded sharply to return +13.65%. Indicators of economic growth signaled a mix of moderating growth and continued strength. Purchasing Managers Index survey data decreased, although the level remained consistent with the average it had been across periods of economic expansion. Meanwhile, payroll wage and unemployment data exceeded expectations. The delayed release of fourth-quarter and full-year 2018 gross domestic product (GDP) fueled positive equity market returns 2018 real GDP growth of +2.9% was stronger than anticipated and marked a rate of expansion that had only been reached two other times since 2005. The Fed also paused its multi-year rate hike program for the time being and stressed that further rate actions would be data dependent. Easing monetary policy and more constructive U.S.-China trade negotiations drove positive sentiment in U.S. equity markets. The second quarter of 2019 was characterized by a continued relief rally in U.S. stocks through
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