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Trending ETFs

Name

As of 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$33.20

$88.5 M

11.38%

$3.78

0.44%

Vitals

YTD Return

8.9%

1 yr return

16.0%

3 Yr Avg Return

8.1%

5 Yr Avg Return

8.3%

Net Assets

$88.5 M

Holdings in Top 10

97.9%

52 WEEK LOW AND HIGH

$33.2
$29.56
$33.58

Expenses

OPERATING FEES

Expense Ratio 0.44%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$33.20

$88.5 M

11.38%

$3.78

0.44%

PUTW - Profile

Distributions

  • YTD Total Return 8.9%
  • 3 Yr Annualized Total Return 8.1%
  • 5 Yr Annualized Total Return 8.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.38%
DIVIDENDS
  • Dividend Yield 11.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    WisdomTree PutWrite Strategy Fund
  • Fund Family Name
    WisdomTree Trust
  • Inception Date
    Feb 24, 2016
  • Shares Outstanding
    3100000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Stavena

Fund Description

The Fund employs a “passive management” – or indexing – investment approach designed to track the performance of the Index. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return, and other characteristics of the Index as a whole. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in constituent securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such constituent securities.

The Index is provided by Volos Portfolio Solutions, Inc. (“Volos” or the “Index Provider”). The Index tracks the value of a cash-secured (i.e., collateralized) put option sales strategy, which consists of (1) selling (or “writing”) put options on the SPDR S&P 500® ETF Trust (“SPY”) (the “SPY Puts”) and (2) a cash collateral account that accrues interest at a theoretical three-month Treasury bill rate on a daily basis. SPY Puts are derivative instruments that typically rise in value when the price of SPY falls because SPY Puts are options to sell SPY at a designated strike price. All SPY Puts are exchange-listed standardized options. The Index’s put option sales strategy is designed to generate income when SPY exhibits neutral to positive performance with low volatility, as such performance is expected to decrease the hypothetical price of the sold SPY Puts. The Index selects SPY Puts that target a premium of 2.5% (i.e., the SPY Put costs approximately 2.5% of the official daily price of SPY). At any given time, the Index references two SPY Puts with expiration dates that are two weeks apart.

In seeking to track the price and yield performance, before fees and expenses, of the Index, the Fund sells SPY Puts and holds U.S. Treasury bills. By selling a SPY Put, the Fund receives a premium from the option buyer. The premium will increase the Fund’s return if the sold SPY Put has decreased in price on the Roll Date (as defined in the next paragraph) relative to the premium received by the Fund from writing the option. The SPY Put will decrease in price if SPY has positive performance because the put option is more valuable when SPY decreases in price and/or experiences high volatility. If, however, the price of the sold SPY Put increases compared to the price of the SPY Put when written by the Fund (e.g., in response to SPY decreasing in price and/or experiencing high volatility), the Fund pays the buyer the difference between the SPY Put price on the Roll Date and the SPY Put price when written by the Fund. The Fund’s sale of cash-secured SPY Puts serves to partially offset a decline in the price of SPY to the extent of the premiums received. However, if the price of SPY increases beyond the premiums received, Fund returns would not be expected to increase accordingly. The Fund’s potential return is limited to the amount of the option premiums it receives.

The SPY Puts bought by the Fund are selected to target a premium of 2.5% (i.e., the cash received by the Fund from the buyer of the SPY Put is approximately 2.5% of the official daily price of SPY). At any given time, the Fund holds two SPY Puts with different expiration dates two weeks apart. The Fund closes out the SPY Puts one week prior to their expiration dates, either the first Friday or third Friday of each month, and newly selected SPY Puts are sold by the Fund on the same day (the “Roll Date”) in a process known as “rolling”. Rolling refers to the practice of closing out one options position and opening another with a different expiration date and/or a different strike price. When a SPY Put is closed out by the Fund on the Roll Date, the Fund selects a new SPY Put with a target expiration date of either the first Friday or third Friday of the following month. Each new SPY Put will also have a strike price that is the higher of (i) the “at the money” strike price (i.e., a strike price that is closest to but greater than the current market price of SPY), or (ii) the strike price for a SPY Put that has a premium closest to 2.5%.

By following the Index’s put option sales strategy, as described above, the Fund expects to operate in a manner similar to, and subject to the same risks as, the Index. The number of SPY Puts sold by the Fund varies but is limited by the amount held by the Fund in Treasury bills. At each Roll Date, any settlement from the existing SPY Puts is paid from the Treasury bill investments and new SPY Puts are sold. The revenue from their sale is added to the Fund’s Treasury bill account.

The Fund is managed in a way that seeks, under normal circumstances, to provide monthly distributions at a relatively stable level.

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PUTW - Performance

Return Ranking - Trailing

Period PUTW Return Category Return Low Category Return High Rank in Category (%)
YTD 8.9% -2.8% 240.8% 35.18%
1 Yr 16.0% -4.3% 140.6% 32.61%
3 Yr 8.1%* -8.3% 18.3% 78.85%
5 Yr 8.3%* -5.0% 17.3% 61.86%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period PUTW Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -34.1% 904.0% 69.37%
2022 -13.0% -28.6% 438.4% 45.09%
2021 20.9% -93.5% 8.2% 68.97%
2020 0.2% -38.9% 19.8% 54.26%
2019 11.9% -10.9% 12.8% N/A

Total Return Ranking - Trailing

Period PUTW Return Category Return Low Category Return High Rank in Category (%)
YTD 8.9% -2.7% 244.0% 32.41%
1 Yr 16.0% -4.3% 140.6% 30.87%
3 Yr 8.1%* -8.3% 18.3% 76.28%
5 Yr 8.3%* -5.4% 17.3% 61.02%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period PUTW Return Category Return Low Category Return High Rank in Category (%)
2023 15.5% -34.1% 904.0% 69.37%
2022 -10.1% -5.9% 438.4% 45.66%
2021 20.9% -81.2% 8.2% 79.31%
2020 1.7% -29.0% 19.8% 69.77%
2019 13.6% -10.9% 12.8% N/A

PUTW - Holdings

Concentration Analysis

PUTW Category Low Category High PUTW % Rank
Net Assets 88.5 M 25 17.4 B 41.95%
Number of Holdings 5 2 508 97.33%
Net Assets in Top 10 86.7 M -6.66 M 5.12 B 30.53%
Weighting of Top 10 97.94% 11.3% 100.0% N/A

Top 10 Holdings

  1. United States Cash Management Bill - Reopening 53.64%
  2. United States Treasury Bill 41.53%
  3. WisdomTree Floating Rate Treasury Fund 4.31%
  4. SPDR S+P 500 ETF TRUST -0.53%
  5. SPDR S+P 500 ETF TRUST -1.02%

Asset Allocation

Weighting Return Low Return High PUTW % Rank
Bonds
95.18% 0.00% 97.96% 13.36%
Stocks
4.31% -3.92% 100.76% 97.33%
Cash
2.06% -0.76% 100.29% 2.29%
Preferred Stocks
0.00% 0.00% 3.08% 72.14%
Convertible Bonds
0.00% 0.00% 20.91% 73.28%
Other
-1.55% 0.00% 45.92% 78.24%

Stock Sector Breakdown

Weighting Return Low Return High PUTW % Rank
Utilities
0.00% 0.00% 13.35% N/A
Technology
0.00% 0.00% 44.43% N/A
Real Estate
0.00% 0.00% 9.74% N/A
Industrials
0.00% 1.41% 43.91% N/A
Healthcare
0.00% 0.00% 25.91% N/A
Financial Services
0.00% 0.00% 29.60% N/A
Energy
0.00% 0.00% 69.54% N/A
Communication Services
0.00% 0.00% 21.22% N/A
Consumer Defense
0.00% 0.00% 22.87% N/A
Consumer Cyclical
0.00% 0.00% 19.02% N/A
Basic Materials
0.00% 0.00% 60.58% N/A

Stock Geographic Breakdown

Weighting Return Low Return High PUTW % Rank
US
4.31% -3.89% 100.00% 94.27%
Non US
0.00% -2.17% 99.33% 95.42%

Bond Sector Breakdown

Weighting Return Low Return High PUTW % Rank
Government
5.34% 0.00% 99.91% 12.60%
Cash & Equivalents
0.00% 0.09% 100.00% 82.44%
Securitized
0.00% 0.00% 22.63% 71.37%
Corporate
0.00% 0.00% 91.57% 74.43%
Municipal
0.00% 0.00% 97.57% 71.37%
Derivative
-1.55% 0.00% 0.13% 73.28%

Bond Geographic Breakdown

Weighting Return Low Return High PUTW % Rank
US
95.18% 0.00% 97.96% 13.36%
Non US
0.00% 0.00% 16.94% 72.14%

PUTW - Expenses

Operational Fees

PUTW Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.44% 0.20% 6.78% 98.77%
Management Fee 0.44% 0.20% 1.75% 8.21%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

PUTW Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PUTW Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PUTW Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 456.80% 69.64%

PUTW - Distributions

Dividend Yield Analysis

PUTW Category Low Category High PUTW % Rank
Dividend Yield 11.38% 0.00% 3.76% 74.72%

Dividend Distribution Analysis

PUTW Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Annually

Net Income Ratio Analysis

PUTW Category Low Category High PUTW % Rank
Net Income Ratio -0.38% -2.54% 14.24% 36.07%

Capital Gain Distribution Analysis

PUTW Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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PUTW - Fund Manager Analysis

Managers

James Stavena


Start Date

Tenure

Tenure Rank

Feb 24, 2016

6.27

6.3%

James is a member of Newton’s asset allocation portfolio management team. Since joining in 1998, James has been the lead portfolio manager for the Dynamic US Equity (DUSE) strategy. In his current role, James also manages a team of portfolio managers responsible for the implementation of global multi-asset, custom rules-based, and options-based strategies. James is a key contributor to the development, refinement and risk management of all asset allocation investment strategies and signals. Drawing from his extensive experience, he focuses on the use of derivatives in quantitative investment strategies, as well as 1940 Act and UCITS III implementations of multi-asset strategies. James joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, was a portfolio manager and senior portfolio manager at Mellon Investments Corporation and Mellon Capital (both BNY Mellon group companies). Earlier in his career, James was a currency options trader with both Credit Suisse First Boston and HSBC in New York and London, respectively. James has an MBA from Rice University.

Vassilis Dagioglu


Start Date

Tenure

Tenure Rank

Feb 24, 2016

6.27

6.3%

Vassilis is the head of portfolio management for multi-asset solutions. In his current role, he oversees the portfolio management team responsible for global multi-asset strategies including Dynamic Total Return, Dynamic Equity, Dynamic Growth, Active Commodities and SmartPath Target Date Funds. Vassilis and his team leverage their long experience in designing and implementing systematic multi-asset products and tailored solutions to help clients achieve a variety of investment objectives. Vassilis joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Vassilis was the head of portfolio management for multi-asset solutions, a senior portfolio manager and portfolio manager at Mellon Investments Corporation and Mellon Capital (both BNY Mellon group companies). Prior to joining BNY Mellon, Vassilis designed and implemented financial information systems and consulted on enterprise-information application development at IBM Global Services and Sybase. Vassilis has a BS in Computer Science from the University of Athens and an MBA in Finance from the University of California at Berkeley.

Torrey Zaches


Start Date

Tenure

Tenure Rank

Sep 01, 2021

0.75

0.8%

Torrey is a member of Newton’s asset allocation portfolio management team. In his current role, Torrey is responsible for overseeing a team of portfolio managers covering multi-asset strategies, with a focus on global total return and tail-risk hedging portfolios. Torrey is responsible for the implementation of these strategies, including strategy refinements, risk management and portfolio management efficiencies. Torrey joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Torrey was a portfolio manager and senior portfolio manager at Mellon Investments Corporation and Mellon Capitol (both BNY Mellon group companies). Prior to joining BNY Mellon, Torrey worked at Mercer Global Advisors providing global asset allocation investment solutions to small businesses and high net worth clients. Torrey has a BA in Economics from the University of California at Santa Barbara and an MBA from the University of Southern California. He received his CFA designation in 1997 and is a member of the CFA Institute.

Dimitri Curtil


Start Date

Tenure

Tenure Rank

Sep 01, 2021

0.75

0.8%

Dimitri is Newton’s global head of multi-asset solutions. In addition to overseeing the team of portfolio managers and researchers responsible for the firm’s systematic multi-asset strategies, Dimitri also leads the development and enhancement of the research underpinning the firm’s multi-asset strategies. Dimitri’s specific areas of research include absolute return and total return strategies as well as risk parity, alternative risk premia and tail-risk hedging solutions. Dimitri joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Dimitri was chief investment officer and head of multi-asset strategies, head of asset allocation research, a senior research analyst and research analyst at Mellon Investments Corporation and Mellon Capital (both BNY Mellon group companies). Prior to joining BNY Mellon, he worked as a computational systems engineer at Lawrence Berkeley National Lab. Dimitri has an MS in Computer Science from Imperial College in London and an MSc in Mechanical Engineering from Zurich Federal Institute of Technology.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67