WisdomTree Launches U.S. MidCap Quality Growth (QMID) and U.S. SmallCap Quality Growth (QSML) Funds
25 Enero 2024 - 7:30AM
Business Wire
WisdomTree, Inc. (NYSE: WT), a global financial innovator,
announced today the launch of the U.S. MidCap Quality Growth Fund
(QMID) and U.S. SmallCap Quality Growth Fund (QSML) on the NASDAQ.
QMID and QSML seek to track the price and yield performance, before
fees and expenses, of the WisdomTree U.S. MidCap Quality Growth
Index1 and WisdomTree U.S. SmallCap Quality Growth Index2,
respectively. Both funds have expense ratios of 0.38%.
QMID and QSML aim to identify stocks that have both quality and
growth characteristics to avoid having to make sacrifices on either
factor. Higher operating profitability (higher quality) has
outpaced lower quality over time. That outperformance has been most
pronounced in the smaller capitalization segments of the
market.
Among investors who allocate to quality, characterized by higher
efficiency and profitability, many often think large-cap3 companies
equal quality. However, high-profitability small-cap4 companies
have outperformed high-profitability large-caps over the long-run.
The performance spread5 between high-profitability and
low-profitability companies is even greater within small-cap
companies as opposed to large-cap companies.
According to Jeremy Schwartz, WisdomTree’s Global Chief
Investment Officer, “The recent divergent and rather large spreads
between major growth indexes makes it abundantly clear that having
the right index screens and rebalancing process are critical for
performance. Certain growth indexes removed the strongest
technology and growth names ahead of the 2023 mega-cap tech rally
due to momentum screens that ranked those stocks poorly at year-end
2022. Certain other small-cap growth indexes include as much as 40%
of speculative, unprofitable companies that appear particularly
vulnerable in today’s higher interest rate environment that makes
capital raising to fund operations more difficult. By employing a
process that focuses on large-, mid-, and small-cap stocks scoring
highly on a combined feature set of robust quality (profitability
ratios) and strong earnings and sales growth, we believe QMID and
QSML are not just sound long-term factor strategies but a great
combination for today’s macro landscape.”
QMID and QSML: What’s Under the Hood?
By screening for quality6 in addition to growth, the WisdomTree
U.S. MidCap and SmallCap Quality Growth Indexes seek exposure to
fast-growing companies with high quality scores, while filtering
out highly speculative names with weaker profitability measures.
QMID and QSML allow investors to:
- Gain core exposure to U.S. mid- and small- market
capitalization companies that display strong quality and growth
characteristics
- Avoid the mid- and small- cap “story stocks” with low, or
negative, profitability
Investors should carefully consider the investment
objectives, risks, charges and expenses of the Funds before
investing. To obtain a prospectus containing this and other
important information, please call 866.909.9473 or visit
WisdomTree.com/investments to view or download a prospectus.
Investors should read the prospectus carefully before
investing.
Important Risk Information
There are risks associated with investing, including possible
loss of principal. Growth stocks, as a group, may be out of favor
with the market and underperform value stocks or the overall equity
market. Growth stocks are generally more sensitive to market
movements than other types of stocks. Funds focusing their
investments on certain sectors and/or smaller companies increase
their vulnerability to any single economic or regulatory
development. This may result in greater share price volatility. The
Funds are non-diversified, as a result, changes in the market value
of a single security could cause greater fluctuations in the value
of Fund shares than would occur in a diversified fund. Each of the
Funds invests in the securities included in, or representative of,
its Index regardless of their investment merit. The Funds do not
attempt to outperform their respective Index or take defensive
positions in declining markets and each Index may not perform as
intended. Please read each Fund’s prospectus for specific details
regarding the Fund’s risk profile. QSML: 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
adverse economic developments as well as changes in interest rates,
government regulation, borrowing costs and earnings. The fund is
new and has limited operating history. QMID: The fund
invests primarily in the securities of mid-capitalization
companies. As a result, the Fund's performance may be adversely
affected if securities of these companies underperform securities
of other capitalization ranges or the market as a whole. Securities
of mid-capitalization companies are often less stable and more
vulnerable to market volatility and adverse economic developments
than securities of larger companies, but mid-capitalization
companies may also underperform the securities of
small-capitalization companies because medium capitalization
companies are more mature and are subject to slower growth during
economic expansion. The fund is new and has limited operating
history. The funds are new and have limited operating history. Past
performance is not indicative of future results.
About WisdomTree
WisdomTree is a global financial innovator, offering a
well-diversified suite of exchange-traded products (ETPs), models,
solutions and products leveraging blockchain-enabled technology. We
empower investors and consumers to shape their future and support
financial professionals to better serve their clients and grow
their businesses. WisdomTree is leveraging the latest financial
infrastructure to create products that provide access, transparency
and an enhanced user experience. Building on our heritage of
innovation, we are also developing and have launched
next-generation digital products, services and structures,
including digital or blockchain-enabled mutual funds and tokenized
assets, as well as our blockchain-native digital wallet, WisdomTree
Prime™.*
*The WisdomTree Prime digital wallet and digital asset services
are made available through WisdomTree Digital Movement, Inc. (NMLS
ID: 2372500), in select U.S. jurisdictions and may be limited where
prohibited by law. Visit www.wisdomtreeprime.com or the WisdomTree
Prime mobile app for more information. Foreside Fund Services, LLC,
(FFS) is not affiliated with WisdomTree, Inc. and its subsidiaries.
FFS does not provide digital wallet or digital asset services.
WisdomTree currently has approximately $99.7 billion in assets
under management globally.
For more information about WisdomTree and WisdomTree Prime™,
visit: https://www.wisdomtree.com.
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@WisdomTreeNews.
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subsidiaries worldwide.
1 WisdomTree U.S. MidCap Quality Growth Index: Market-cap
weighted index that consists of companies with quality and growth
characteristics. The top 60% of U.S. companies by market
capitalization, after the 500 largest companies have been removed,
are ranked on a composite score of two fundamental factors: growth
and quality, which are equally weighted. 2 WisdomTree U.S. SmallCap
Quality Growth Index: Market-cap weighted index that consists of
companies with quality and growth characteristics. The bottom 40%
of U.S. companies by market capitalization, after the 500 largest
companies have been removed, are ranked on a composite score of two
fundamental factors: growth and quality, which are equally
weighted. 3 Large-Capitalization (Large-Cap): Used by the
investment community to refer to companies with a market
capitalization value of more than $10 billion. An abbreviation of
the term “large market capitalization”. Calculated by multiplying
the number of a company’s shares outstanding by its stock price per
share. 4 Small-Capitalization (Small-Cap): New or relatively young
companies that typically have a market capitalization between $200
million to $2 billion. 5 Spread: Typically refers to a difference
between a measure of yield for one asset class and a measure of
yield for either a different subset of that asset class or a
different asset class entirely. 6 Quality Screen: The growth factor
is determined by a company's ranking based on a 40% weight in its
trailing 3-year earnings growth, a 40% weight in its trailing
3-year sales growth, and a 20% weight in its median analyst
earnings growth forecast. The quality factor is determined by a
company's ranking based on a 50% weight to each of its trailing
3-year average return on equity and trailing 3-year average return
on assets.
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Media Relations WisdomTree, Inc. Jessica Zaloom +1.917.267.3735
jzaloom@wisdomtree.com / wisdomtree@fullyvested.com
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