WisdomTree International LargeCap Dividend Fund (DOL)
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DOL Forum Topics
- All Comments on DOL
- General Discussion on DOL
- International Dividend ETFs [view article]
- Fundamentally Weighted ETFs: Mixed Performance in '07 [view article]
- A List of Dividend ETFs [view article]
- Questioning a Large-Cap 'Flight To Quality': Small is Still Beautiful [view article]
- 26 Dividend Paying ETFs By Yield [view article]
- Interview: Luciano Siracusano, Director of Research for ETF Firm WisdomTree Asset Management [view article]
- Closed-End Yield Funds: BQY > OEF + DOL ? [view article]
Recent DOL Articles
- An Overview of Dividend ETFs
- Fundamentally Weighted ETFs: Mixed Performance in '07
- First Trust Global Dividend ETF: No New Territory
- A List of Dividend ETFs
- International Dividend ETFs
- Questioning a Large-Cap 'Flight To Quality': Small is Still Beautiful
- 26 Dividend Paying ETFs By Yield
- WisdomTree Joins With Firm On Low-Fee ETF Retirement Investing
- Interview: Luciano Siracusano, Director of Research for ETF Firm WisdomTree Asset Management
- Closed-End Yield Funds: BQY > OEF + DOL ?
- Full List of Articles »
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International Dividend ETFs [view article]
State Street has a new one - DWXIf nothing else it's interesting because it has a 25% cap on sector (financials, anyone?) and has 10% (capped) emerging market exposure. Reply
Editors
General Discussion on DOL
Is this a buy or a sell? ReplyFundamentally Weighted ETFs: Mixed Performance in '07 [view article]
I think it is time to see through the veil of what a cap-weighted index really is……a glorified momentum index. WAIT! That is comment is sacrilegious! Defend yourself!Okay, one only needs to look at the sector mix of an index to see the change in market weight caused by the momentum effect. As an example, In December of 2002 the E-Trade Russell 2000 Index Fund composition was approximately 70% small-cap value/ 30% small–cap growth. Three years later (December 2006) the index was approximately 20% small-cap value/ 80% small–cap growth. Imagine trying to beat the small-cap index as a small-cap value manager during those three years!
Let’s take it a step further; pretend you were a small-cap growth manager during this booming three year run. Your track record looks good as you capitalized on this momentum and you soundly beat the small-cap index. On the wings of good fortune you get hired by the institutions and investors. Then the enviable happens, the sector rotates back to small-cap value (and/or some other asset class) and your performance drops and you fall out of favor.
In this example its evident indexing small-cap stocks using a cap-weighted approach capitalizes on the change in momentum while fundamental indexing would have given a more accurate description of how the small-cap securities actually performed.
I don’t have enough data points to judge weather fundamental indexing is better or worse than cap-weighting indexing but I do believe the momentum effect may favor cap-weighting, albeit with more volatility. So the trade-off of risk-adjusted returns is open for debate. What is clear to me is that cap-weighting is nothing more than a momentum strategy masked in the guise of a passive strategy. I’m sure if this were a chat log I’d burn in flames! I applaud Rob Arnott’s work on fundamental indexing and appreciate anyone challenging the norms of convention wisdom.
Reply
Fundamentally Weighted ETFs: Mixed Performance in '07 [view article]
Yeah, goos stuff. I am a staunch Wisdomtree supporter and ETF owner. I experienced the brunt of the underperformance. For now, I am giving the beenfit of the doubt to the strategy. There needs to be a much larger sample than one year. The backtesting of the funds shows a much different story.That being said, last years underperfomance was very diappointing to me. I walked through my doubt and fear and actually accumulated more.
I am a holder of DHS, EZY, DPN, DND, DGS and the WSDT tree stock itself. My positions are long term, I am a buy and hold investor. Reply
A List of Dividend ETFs [view article]
The list you provided is a good start for research, but it's missing the dividend yield. ReplyEditors
International Dividend ETFs [view article]
This list doesn't include ADRs, REITs and CANROYs -- just the ETFs. ReplyQuestioning a Large-Cap 'Flight To Quality': Small is Still Beautiful [view article]
If you are nimble enough to pick the right companies it's certain a small company has more potential. There is an advantage for the large caps usually having less downside risk, again if the choice and timing are right. Large caps often trade sideways for four or five years followed by a spurt that can be a very substantial gain. Many people think companies like IBM and GE fit that description and will deliver exceptional gains over the next two to three years. Vic ReplyFinance
International Dividend ETFs [view article]
Yes, I covered the wisdom trees in addition to several not listed here in various posts recently. Check out the section for top posts and you'll see other high yielding ADRs, ETFs, CANROYs and REITs (enough acronyms already!). But many exceed 10%/annum. Reply26 Dividend Paying ETFs By Yield [view article]
The ETFs are market weighted or fundamental weighted. The average yield of the stocks comprising it is meaningless in the context of the ETF itself. Replycom
26 Dividend Paying ETFs By Yield [view article]
Where did you find yield for DND as 6.14 ? I see it foir much less on other sites? ReplyJackson
International Dividend ETFs [view article]
Have we missed out any ETFs here? Or any Seeking Alpha articles that are important to understanding them? If so, please leave a comment and let us know! ReplySiracusano
Interview: Luciano Siracusano, Director of Research for ETF Firm WisdomTree Asset Management [view article]
Niki -- I started working on an answer for you but the clock ran out on me.To the Seeking Alpha Community:
I made a few additional posts below, that I actually posted earlier in the day. Thanks to all of your for questions. Sorry I could not get to answer all of them. They were great. I hope to interact with you again in the future.
Best,
Luciano Reply
Siracusano
Interview: Luciano Siracusano, Director of Research for ETF Firm WisdomTree Asset Management [view article]
Richard, this link takes you to a summary of the selection requirements for WisdomTree’s dividend indexes. I believe you can find the answer to your questions here, as some of these thresholds vary depending on whether it is a domestic index or one covering non-U.S. securities in other developed equity markets.www.wisdomtreeindexes.... Reply
Siracusano
Interview: Luciano Siracusano, Director of Research for ETF Firm WisdomTree Asset Management [view article]
Richard,The WisdomTree Indexes were created by WisdomTree Investments after years of extensive research. As Director of Research, I work with a team of professionals to oversee the operation of the indexes. WisdomTree Asset Management, a registered investment adviser, oversees the operations of each ETF, including the portfolio management and the operation of the other service providers to the Funds. BNY Investment Advisors serves as the sub-advisor with respect to the day-to-day portfolio management and operations of each WisdomTree ETF. As sub-adviser, BNYIA is responsible for executing portfolio transactions. The WisdomTree indexes are calculated, maintained and disseminated by an independent index calculation agent. WisdomTree has been fortunate to attract seasoned management from within the ETF industry to help manage its ETF business. More information on WisdomTree’s role as investment adviser and BNY Investment Advisors role as sub-adviser can be found in the WisdomTree ETFs’ Statement of Additional Information or “SAI”. The SAI can be found on wisdomtree.com in the “Library” section. Reply
Siracusano
Interview: Luciano Siracusano, Director of Research for ETF Firm WisdomTree Asset Management [view article]
Richard,Since we have so many different indexes, measuring different regions and market capitalizations, I really am not able to generalize on how the returns of the WisdomTree indexes compare to specific indexes. So the best thing I can do is point you to information about the performance of our indexes available at wisdomtreeindexes.com. The FTSE/RAFI indexes you mentioned select, rank and weight stocks by a variety of fundamental metrics. Philosophically, we support that approach. However, we believe our approach is more transparent (our complete methodology is fully disclosed at wisdomtreeindexes.com) and easier to understand (since we focus on a single factor: dividends). We believe you are absolutely right in focusing on relatively low fees as one of the reasons for the success of traditional ETFs. This is an important area often overlooked by some investors. Expense ratios for WisdomTree ETFs are disclosed at wisdomtree.com. We invite you to draw your own conclusions as to whether the WisdomTree ETFs offer a meaningful advantage in terms of fees. If you wish to calculate “spreads,” you will need to do the math, depending on which cap-weighted ETF you choose to compare to. Reply