Mutual Fund Summary Prospectus (497k)
01 8월 2013 - 5:55AM
Edgar (US Regulatory)
WisdomTree Europe SmallCap Dividend Fund DFE
(NYSE Arca Ticker)
SUMMARY PROSPECTUS August 1, 2013
Before you
invest in the Fund, as defined below, you may want to review the Funds prospectus and statement of additional information (SAI), which contain more information about the Fund and the risks of investing in the Fund. The Funds
current prospectus and SAI are incorporated by reference into this summary prospectus. You can find the Funds prospectus and SAI, as well as other information about the Fund, online at www.wisdomtree.com/prospectus. You may also obtain this
information at no charge by calling
1-866-909-9473
or by sending an e-mail request to getinfo@wisdomtree.com.
Investment Objective
The WisdomTree Europe SmallCap Dividend Fund (the Fund) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe SmallCap Dividend Index (the
Index).
Fees and Expenses of the Fund
The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. The fees are expressed as a percentage of the Funds average net assets.
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Shareholder Fees
(fees paid
directly from your investment)
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None
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Annual Fund
Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
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Management
Fees
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0.58
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%
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Distribution
and/or Service (12b-1) Fees
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None
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Other
Expenses
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0.00
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%
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Total Annual Fund Operating Expenses
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0.58
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%
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Example
The following example is intended to help retail investors compare the cost of investing in the Fund with the cost of investing in other funds. It
illustrates the hypothetical expenses that such investors would incur over various periods if they were to invest $10,000 in the Fund for the time periods indicated and then redeem all of the shares at the end of those periods. This example assumes
that the Fund provides a return of 5% a year and that operating expenses remain the same. This example does not include the brokerage commissions that retail investors may pay to buy and sell shares of the Fund. Although your actual costs may be
higher or lower, based on these assumptions, your costs would be:
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1 Year
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3 Years
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5 Years
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10 Years
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$59
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$186
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$324
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$726
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Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs
and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. During the most recent fiscal year, the
Funds portfolio turnover rate was 48% of the average value of its portfolio, excluding the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Funds capital shares.
Principal Investment Strategies of the Fund
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
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WisdomTree Trust
Prospectus
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1
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other characteristics of the Index as a whole. Under normal circumstances, at least 95% of the Funds 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.
The Index is a fundamentally weighted index that is comprised of the small-capitalization segment of the European dividend-paying market. Constituent companies are selected from the WisdomTree Europe
Dividend Index. The Index is comprised of the companies that compose the bottom 25% of the market capitalization of the WisdomTree Europe Dividend Index after the 300 largest companies have been removed. As of June 30, 2013, the Index had a
market capitalization range from $118 million to $1.8 billion. Eligibility requirements for the WisdomTree Europe Dividend Index include: (i) incorporation and exchange listing in one of the following countries: Austria, Belgium, Denmark,
Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, or the United Kingdom (Europe); (ii) payment of at least $5 million in cash dividends on common shares in the annual cycle prior to
the annual Index rebalance; (iii) market capitalization of at least $100 million as of the Index rebalance; (iv) average daily trading volume of at least $100,000 for three months preceding the Index rebalance; (v) a calculated volume
factor (the average daily trading volume for three months preceding the Index rebalance divided by the weight of the security in the Index) that is greater than $200 million; and (vi) trading of at least 250,000 shares per month for each of the six
months preceding the Index rebalance. Securities are weighted in the Index based on dividends paid over the prior annual cycle. Companies that pay more total dollar amount of dividends are more heavily weighted. The maximum weight of any one sector
and any one country in the Index, at the time of the Indexs annual rebalance, is capped at 25%. In response to market conditions, sector and country weights may fluctuate above 25% between annual Index rebalance dates. In the event that a
company has a calculated volume factor that is less than $400 million as of the annual Index rebalance, its weight in the Index will be reduced such that its weight equals its weight prior to the adjustment multiplied by a fraction of its calculated
volume factor divided by $400 million.
WisdomTree Investments, Inc. (WisdomTree Investments), as index provider, currently uses
Standard & Poors Global Industry Classification Standards (S&P GICS) to define companies within a sector. The following sectors are included in the Index: consumer discretionary, consumer staples, energy, financials,
health care, industrials, information technology, materials, telecommunication services, and utilities. A sector is comprised of multiple industries. For example, the energy sector is comprised of companies in, among others, the natural gas, oil and
petroleum industries.
To the extent the Index concentrates (
i.e.
, holds 25% or more of its total assets) in the securities of a
particular industry or group of industries, the Fund will concentrate its investments to approximately the same extent as its Index.
Principal Risks of Investing in the Fund
You can lose money on your investment in the Fund. The Fund is subject to the risks described below. Some or all of these risks may adversely affect the
Funds net asset value per share (NAV), trading price, yield, total return and/or ability to meet its objectives. For more information about the risks of investing in the Fund, see the section in the Funds prospectus titled
Additional Investment Objective, Strategy and Risk Information.
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Investment Risk.
As with all investments, an investment in the Fund is subject to investment risk. Investors in the Fund could lose money,
including the possible loss of the entire principal amount of an investment, over short or long periods of time.
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Market Risk.
The trading prices of equity securities and other instruments fluctuate in response to a variety of factors. The Funds NAV
and market price may fluctuate significantly in response to these and other factors. As a result, an investor could lose money over short or long periods of time.
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Shares of the Fund May Trade at Prices Other Than NAV.
As with all exchange-traded funds (ETFs), Fund shares may be bought and sold
in the secondary market at market prices. The trading prices of the Funds shares in the secondary market generally differ from the Funds daily NAV and there may be times when the market price of the shares is more than the NAV (premium)
or less than the NAV (discount). This risk is heightened in times of market volatility or periods of steep market declines.
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Currency Exchange Rate Risk.
The Fund may invest a relatively large percentage of its assets in investments denominated in non-U.S. currencies
or in securities that provide exposure to such currencies. Changes in currency exchange rates and the relative value of non-U.S. currencies will affect the value of the Funds investment and the value of your Fund shares. Currency exchange
rates can be very volatile and can change quickly and unpredictably. As a result, the value of an investment in the Fund may change quickly and without warning and you may lose money.
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Financial Sector Risk.
The Fund may invest in companies in the financial sector, and therefore the performance of the Fund could be negatively
impacted by events affecting this sector. This sector can be significantly affected by changes in interest rates, government regulation, the rate of defaults on corporate, consumer and government debt, the availability and cost of capital, and
fallout from the housing and sub-prime mortgage crisis.
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WisdomTree Trust
Prospectus
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2
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Foreign Securities Risk.
Investments in non-U.S. securities involve certain risks that may not be present with investments in U.S. securities.
For example, investments in non-U.S. securities may be subject to risk of loss due to foreign currency fluctuations or to political or economic instability. Investments in non-U.S. securities also may be subject to withholding or other taxes and may
be subject to additional trading, settlement, custodial, and operational risks. These and other factors can make investments in the Fund more volatile and potentially less liquid than other types of investments.
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Geographic Concentration in Europe.
Because the Fund invests primarily in the securities of companies in Europe, the Funds performance is
expected to be closely tied to social, political, and economic conditions within Europe and to be more volatile than the performance of more geographically diversified funds. Most developed countries in Western Europe are members of the European
Union (EU), and many are also members of the European Monetary Union (EMU), which requires compliance with restrictions on inflation rates, deficits, and debt levels. Unemployment in certain European nations is historically high. In addition, the
tight fiscal and monetary controls necessary to join the EMU can significantly affect every country in Europe. The Fund currently invests a significant portion of its assets in companies organized in Sweden and the United Kingdom.
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Industrial Investing.
The Fund may invest in companies in the industrial sector. The industrial sector can be significantly affected by, among
other things, worldwide economy growth, supply and demand for specific products and services, rapid technological developments, and government regulation.
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Investment Style Risk.
The Fund invests in the securities included in, or representative of, its Index regardless of their investment merit. The
Fund does not attempt to outperform its Index or take defensive positions in declining markets. As a result, the Funds performance may be adversely affected by a general decline in the market segments relating to its Index.
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Issuer-Specific Risk.
Issuer-specific events, including changes in the financial condition of an issuer, can have a negative impact on the value
of the Fund.
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Non-Correlation Risk.
As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons.
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Non-Diversification Risk.
Although the Fund intends to invest in a variety of securities and instruments, the Fund will be considered to be
non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. As a result, the Fund may be more exposed to the risks associated with and
developments affecting an individual issuer or a smaller number of issuers than a fund that invests more widely. This may increase the Funds volatility and cause the performance of a relatively smaller number of issuers to have a greater
impact on the Funds performance.
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Small-Capitalization Investing.
The Fund invests primarily in the securities of small-capitalization companies. As a result, the Fund may be
more volatile than funds that invest in larger, more established companies. The securities of small-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes than larger capitalization
stocks or the stock market as a whole. Small-capitalization companies may be particularly sensitive to changes in interest rates, government regulation, borrowing costs and earnings.
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Fund Performance
Historical Fund
performance, which varies over time, can provide an indication of the risks of investing in the Fund. The bar chart that follows shows the annual total returns of the Fund for each full calendar year since the Fund commenced operations. The table
that follows the bar chart shows the Funds average annual total returns, both before and after taxes. This table also shows how the Funds performance compares to the Index and that of a relevant broad-based securities index. Index
returns do not reflect deductions for fees, expenses or taxes. All returns assume reinvestment of dividends and distributions. The Funds past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in
the future.
The Funds year-to-date total return as of June 30, 2013 was 8.56%.
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WisdomTree Trust
Prospectus
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3
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Best and Worst Quarter Returns (for the periods reflected in the bar chart above)
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Return
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Quarter/Year
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Highest
Return
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31.20
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%
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2Q/2009
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Lowest
Return
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(31.16
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)%
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4Q/2008
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After-tax returns are calculated using the highest historical individual federal marginal income tax rates and do not
reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown and are not relevant if you hold your Fund shares through tax-deferred arrangements, such as 401(k) plans or
individual retirement accounts. In some cases the return after taxes may exceed the return before taxes due to an assumed tax benefit from any losses on a sale of Fund shares at the end of the measurement period.
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WisdomTree Europe SmallCap
Dividend Fund
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1 Year
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5 Years
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Since Inception
(6/16/2006)
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Return Before
Taxes Based on NAV
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27.96
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%
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(2.75
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)%
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1.88
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%
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Return After
Taxes on Distributions
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26.08
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%
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(4.58
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)%
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0.02
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%
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Return After
Taxes on Distributions and Sale of Fund Shares
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17.99
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%
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(3.48
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)%
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0.44
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%
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MSCI Europe
Small Cap Index (Reflects no deduction for fees, expenses or taxes)
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28.97
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%
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(1.26
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)%
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3.81
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%
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WisdomTree
Europe SmallCap Dividend Index (Reflects no deduction for fees, expenses or taxes)
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28.68
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%
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(2.42
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)%
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2.20
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%
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Management
Investment Adviser and Sub-Adviser
WisdomTree Asset Management, Inc. serves as investment
adviser to the Fund. Mellon Capital Management Corporation serves as sub-adviser to the Fund.
Portfolio Managers
Karen Q. Wong, CFA, a Managing Director, Equity Index Strategies, has been a portfolio manager of the Fund since February 2008.
Richard A. Brown, CFA, a Director, Equity Portfolio Management, has been a portfolio manager of the Fund since February 2008.
Thomas J. Durante, CFA, a Director, Senior Portfolio Manager, Equity, has been a portfolio manager of the Fund since February 2008.
Buying and Selling Fund Shares
The Fund
is an ETF. This means that shares of the Fund are listed on a national securities exchange, such as NYSE Arca, and trade at market prices. Most investors will buy and sell shares of the Fund through brokers. Because Fund shares trade at market
prices rather than NAV, shares may trade at a price greater than NAV (premium) or less than NAV (discount).
The Fund issues and redeems shares
at NAV only in large blocks of shares (Creation Units), which only certain institutions or large investors (typically market makers or other broker-dealers) may purchase or redeem. Currently, Creation Units generally consist of 50,000
shares, though this may change from time to time. Creation Units are not expected to consist of less than 50,000 shares. The Fund generally issues and redeems Creation Units in exchange for a portfolio of securities closely approximating the
holdings of the Fund and/or a designated amount of U.S. cash.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank) (an Intermediary),
WisdomTree Asset Management or its affiliates may pay Intermediaries for certain activities related to the Fund, including participation in activities that are designed to make Intermediaries more knowledgeable about exchange traded products,
including the Fund, or for other activities, such as marketing, educational training or other initiatives related to the sale or promotion of Fund shares. These payments may create a conflict of interest by influencing the Intermediary and your
salesperson to recommend the Fund over another investment. Any such arrangements do not result in increased Fund expenses. Ask your salesperson or visit the Intermediarys website for more information.
Tax Information
The Fund intends to
make distributions that may be taxed as ordinary income, qualified dividend income, or capital gains.
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WisdomTree Trust
Prospectus
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4
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WIS-SUM-DFE-08/13
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