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Trending ETFs

WisdomTree U.S. High Yield Corporate Bond Fund

ETF
WFHY
Payout Change
Pending
Price as of:
$45.37 +0.27 +0.6%
primary theme
High Yield Bond
WFHY (ETF)

WisdomTree U.S. High Yield Corporate Bond Fund

Payout Change
Pending
Price as of:
$45.37 +0.27 +0.6%
primary theme
High Yield Bond
WFHY (ETF)

WisdomTree U.S. High Yield Corporate Bond Fund

Payout Change
Pending
Price as of:
$45.37 +0.27 +0.6%
primary theme
High Yield Bond

Name

As of 03/27/2024

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

$45.37

$225 M

6.08%

$2.76

0.38%

Vitals

YTD Return

1.4%

1 yr return

11.7%

3 Yr Avg Return

0.9%

5 Yr Avg Return

3.1%

Net Assets

$225 M

Holdings in Top 10

10.4%

52 WEEK LOW AND HIGH

$45.1
$42.17
$45.77

Expenses

OPERATING FEES

Expense Ratio 0.38%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 21.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 03/27/2024

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

$45.37

$225 M

6.08%

$2.76

0.38%

WFHY - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 3.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.51%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    WisdomTree U.S. High Yield Corporate Bond Fund
  • Fund Family Name
    WisdomTree Trust
  • Inception Date
    Apr 27, 2016
  • Shares Outstanding
    3900000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Randall Parrish

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 component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities.

WisdomTree, Inc., the Index Provider and parent company of the Fund’s investment adviser, WisdomTree Asset Management, Inc. (“WisdomTree Asset Management” or the “Adviser”), designed the Index to capture the performance of selected issuers in the U.S. non-investment-grade corporate bond (“junk bonds”) market that are deemed to have favorable fundamental and income characteristics. The Index employs a multi-step process, which screens based on fundamentals to identify bonds with favorable characteristics and then tilts to those individual securities which offer favorable income characteristics. The goal is to improve the risk-adjusted performance of traditional market capitalization-weighted approaches of high-yield corporate bond indices.

The Index is comprised of corporate bonds of public issuers domiciled in the United States. To be eligible for inclusion in the Index, bonds must meet the following criteria: (i) pay fixed-rate coupons; (ii) have at least $500 million in par amount outstanding; (iii) have a remaining maturity of at least one year; and (iv) rated non-investment grade by Moody’s or Standard & Poor’s. In addition, the issuer cannot have defaulted or be in distress. For the purposes of the Index, bonds issued under Regulation S are excluded from eligibility. All bonds are denominated in U.S. dollars.

The Index utilizes a “screen and tilt” rules-based approach to isolate bonds that have favorable fundamentals and tilts to those bonds with favorable income and valuation characteristics. Once the Index universe is defined from the eligibility criteria, individual bonds are assigned a factor score based on rules-based fundamental metrics, such as distinguishing cash flow characteristics and discards the securities with poor cash flow performance. Remaining bonds are ranked within one of five sectors (i.e., industrial, financial, utility, consumer, or energy) based on their liquidity scores and then screened so that the bonds receiving the lowest 5% of liquidity scores in each sector are removed from the Index. Each remaining bond is then assigned an income tilt score reflecting, among other factors, the bond's probability of default and recovery relative to the other remaining bonds in its sector and the yield spread between the bond and U.S. Treasuries. Income tilt scores are then used to determine a bond’s weight in the Index, with bonds receiving higher income tilt scores being more heavily weighted. Issuer exposure is capped at 2%, with excess exposure distributed to the remaining bonds on a pro-rata basis. The Index is rebalanced semi-annually.

The Fund may invest up to 20% of its assets in other securities, including repurchase agreements, and/or derivatives. Derivative investments may include interest rate futures, swaps and forward contracts. The Fund’s use of derivatives will be underpinned by investments in cash or other liquid assets.

To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of companies assigned to a particular industry or group of industries, the Fund will concentrate its investments in such industry to approximately the same extent as the Index.

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WFHY - Performance

Return Ranking - Trailing

Period WFHY Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -4.9% 8.2% 48.67%
1 Yr 11.7% -4.3% 26.0% 44.13%
3 Yr 0.9%* -15.6% 20.6% 76.14%
5 Yr 3.1%* -11.2% 37.3% 66.84%
10 Yr N/A* -4.7% 19.5% 7.98%

* Annualized

Return Ranking - Calendar

Period WFHY Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -4.7% 14.3% 88.51%
2022 -16.3% -33.4% 3.6% 65.05%
2021 -0.1% -8.4% 14.9% 53.51%
2020 0.7% -13.9% 302.7% 30.76%
2019 9.7% -4.4% 13.3% 11.72%

Total Return Ranking - Trailing

Period WFHY Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -4.9% 8.2% 48.67%
1 Yr 11.7% -4.3% 26.0% 44.13%
3 Yr 0.9%* -15.6% 20.6% 76.14%
5 Yr 3.1%* -11.2% 37.3% 66.84%
10 Yr N/A* -4.7% 19.5% N/A

* Annualized

Total Return Ranking - Calendar

Period WFHY Return Category Return Low Category Return High Rank in Category (%)
2023 10.1% -4.7% 18.7% 84.32%
2022 -11.8% -33.4% 47.8% 75.08%
2021 4.1% -8.4% 24.8% 69.66%
2020 6.0% -9.6% 325.6% 37.82%
2019 15.6% -3.8% 21.5% 13.45%

WFHY - Holdings

Concentration Analysis

WFHY Category Low Category High WFHY % Rank
Net Assets 225 M 1.85 M 22.6 B 69.28%
Number of Holdings 486 2 2736 32.10%
Net Assets in Top 10 24.2 M -492 M 4.45 B 75.46%
Weighting of Top 10 10.39% 4.2% 149.6% 73.30%

Top 10 Holdings

  1. State Street Navigator Securities Lending Government Money Market Portfolio 4.33%
  2. Crescent Energy Finance LLC 0.72%
  3. NGL Energy Operating LLC / NGL Energy Finance Corp 0.72%
  4. Organon Co / Organon Foreign Debt Co-Issuer BV 0.70%
  5. Nationstar Mortgage Holdings Inc 0.69%
  6. DISH DBS Corp 0.67%
  7. Tenet Healthcare Corp 0.66%
  8. Genesis Energy LP / Genesis Energy Finance Corp 0.65%
  9. Sirius XM Radio Inc 0.63%
  10. DaVita Inc 0.62%

Asset Allocation

Weighting Return Low Return High WFHY % Rank
Bonds
97.37% -3.13% 154.38% 19.05%
Cash
4.33% -52.00% 49.49% 39.20%
Convertible Bonds
1.21% 0.00% 17.89% 44.44%
Stocks
0.00% 0.00% 99.61% 78.34%
Preferred Stocks
0.00% 0.00% 8.06% 52.78%
Other
0.00% -63.70% 102.57% 52.01%

Bond Sector Breakdown

Weighting Return Low Return High WFHY % Rank
Corporate
100.00% 0.00% 129.69% 0.46%
Cash & Equivalents
4.33% 0.00% 49.49% 33.80%
Derivative
0.00% -15.04% 42.26% 41.67%
Securitized
0.00% 0.00% 97.24% 57.19%
Municipal
0.00% 0.00% 4.66% 23.96%
Government
0.00% 0.00% 99.07% 44.98%

Bond Geographic Breakdown

Weighting Return Low Return High WFHY % Rank
US
97.37% -3.13% 129.21% 12.81%
Non US
0.00% 0.00% 97.33% 51.23%

WFHY - Expenses

Operational Fees

WFHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.38% 0.04% 31.61% 95.83%
Management Fee 0.38% 0.00% 1.84% 11.08%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

WFHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

WFHY 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.

WFHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 21.00% 1.00% 255.00% 2.55%

WFHY - Distributions

Dividend Yield Analysis

WFHY Category Low Category High WFHY % Rank
Dividend Yield 6.08% 0.00% 35.52% 20.86%

Dividend Distribution Analysis

WFHY Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

WFHY Category Low Category High WFHY % Rank
Net Income Ratio 4.51% -2.39% 14.30% 43.49%

Capital Gain Distribution Analysis

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

Distributions History

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WFHY - Fund Manager Analysis

Managers

Randall Parrish


Start Date

Tenure

Tenure Rank

Apr 27, 2016

6.1

6.1%

Randall Parrish is head of credit and a senior high yield portfolio manager at Voya Investment Management. As head of credit, Randy oversees the high yield, investment grade and emerging market teams. Previously, Randy was head of high yield and served as a portfolio manager and analyst on the high yield team since joining Voya in 2001. Prior to joining the firm, he was a corporate banker in leveraged finance with SunTrust Bank and predecessors to Bank of America. Randy received a BBA in business administration from the University of Georgia and holds the Chartered Financial Analyst® designation.

Rick Cumberledge


Start Date

Tenure

Tenure Rank

Apr 27, 2016

6.1

6.1%

Rick Cumberledge, CFA Head of High Yield Rick Cumberledge is head of high yield and a senior high yield portfolio manager at Voya Investment Management. Prior to joining the firm, Rick spent nearly six years working at Federated Investors as a senior high yield credit analyst. His previous experience includes positions with American Capital Strategies, Bank of America and Allied Capital. Rick has a BA in business administration from Westminster College and an MSc in finance from the George Washington University. He holds the Chartered Financial Analyst® designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17