EZY Fund Description

The WisdomTree LargeCap Value ETF tracks an index of 300 value-oriented stocks chosen from the 1,000 largest US firms. The index selects and weights stocks using fundamental factors.

EZY ETF.com Insight

EZY focuses on earnings in the US large-cap value space, which creates some strange side-effects, and comes at a steep all-in cost. In addition to the typical value selection metrics (P/E,Holding and transaction costs are high P/B, price-to-sales), EZY's index also looks at cumulative earnings over the past year. While this fundamental overlay may sound innocuous, it gives the fund attributes uncharacteristic of the segment, such as a midcap tilt, several industry tilts (including a large stake in consumer cyclicals), and a pint-sized yield. Holding and transaction costs are high. The fund charges 38 bps and trades thinly. Median volume is under $50k a day, so market orders could get punished. Investors simply haven't shown much interest in the fund. In fact, we see some closure risk based on the weak liquidity and low AUM. (Insight updated 10/09/2014)

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 10/16/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
EZY -8.86% -7.44% 0.20% 8.00% 15.70% 12.46% --
EZY (NAV) -8.74% -7.46% -0.11% 7.70% 15.68% 12.47% --
WisdomTree Large Cap Value Index -8.72% -7.38% -- 8.10% 16.07% 12.93% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EZY Top 10 Countries

EZY Top 10 Sectors

EZY Top 10 Holdings View All

EZY Summary Data

WisdomTree

A company that produces and manages ETFs.

02/23/07

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.38%

The net total annual fee a fund holder pays to the issuer.

$25.74 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$61.14 K

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.10%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

EZY Portfolio Data

$67.35 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

15.17

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.78

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.28%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/19/14

The date on which a security's price excludes an upcoming dividend.

1,323

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

EZY Index Data

WisdomTree Large Cap
Value Index

This is the benchmark an ETF is desigend to track or replicate.

Fundamental

A set of rules that the underlying index provider follows to weight its constituent securities.

Fundamental

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI USA Large Value

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to EZY

IWD, VTV, IVE, PWV, MGV

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

EZY ETF.com Efficiency Insight

At 38 bps, EZY's expense ratio is more than 5 times the cost of its cheapest plain vanilla competitor, possibly explaining why investors haven't been enamored with the fund. EZY's asset base of around $25 million and other factors put it at elevated risk of closure. Still, the fund maintains tax efficiency, having avoided capital gains payouts over the past three years. (Insight updated 10/09/2014)

Total Return - 10/16/2014
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 10/16/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
EZY -8.86% -7.44% 0.20% 8.00% 15.70% 12.46% --
EZY (NAV) -8.74% -7.46% -0.11% 7.70% 15.68% 12.47% --
WisdomTree Large Cap Value Index -8.72% -7.38% -- 8.10% 16.07% 12.93% --
MSCI USA Large Value -6.85% -6.55% 1.84% 9.04% 16.64% 11.62% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EZY Portfolio Management

0.38%

The net annual fee a fund holder pays to the issuer.

-0.43%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.36%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.50%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

EZY Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

EZY Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

70% / 30%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Medium

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

EZY ETF.com Tradability Insight

Liquid is no way to describe EZY. The fund trades less than $50K on most days—a level prohibitive to traders and larger retail investors. Its average spread of 0.10% is reasonable, but its low volume suggests a shallow order book. Still, its low creation costs and excellent underlying volume indicate that those trading in size should see lower relative costs. (Insight updated 10/09/2014)



Average Spread
Premium/Discount
Volume

EZY ETF.com/ Block LiquidityAs of 10/17/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of EZY. EZY is rated a 5 out of 5.

EZY Tradability

1,006

It is the daily number of shares traded, averaged over the past 45 trading days.

$61.14 K

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

670

Median number of shares traded over the past 45 trading days.

$42.07 K

Median dollar value of shares traded over the past 45 trading days.

0.10%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.06

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

-0.01%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

2.35% / -1.90%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

0.01

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.07%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.02%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

--

The total number of net outstanding options contracts for an ETF.

$57.21

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

EZY ETF.com Fit Insight

EZY's selection and weighting methodology overlays a cumulative earnings screen on top of more typical value metrics. This produces severe sector biases, toward consumer cyclicals and away healthcare and telecom. The heavy cyclicals bias is particularly odd in a value fund. The fund also leans toward smaller firms and lower yielding issues, which leads to higher market risk. (Insight updated 10/09/2014)

EZY Sector/Industry BreakdownView All

EZY Segment Benchmark
22.56% 29.42%

11.16% 17.54%

2.40% 13.30%

13.77% 9.86%

12.09% 8.80%

11.78% 8.29%

13.18% 6.09%

2.74% 5.26%

5.05% 1.29%

EZY Geographic Exposure

EZY Segment Benchmark
99.88% 100.00%

0.12% --

EZY Segment Benchmark
99.88% 100.00%

0.12% --

100.00% / 0% 100.00% / 0%

EZY Performance Statistics

0.89

The degree to which the fund and its segment benchmark move up and down in unison.

1.13

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

1.01

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.22

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.28%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI USA Large Value

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

EZY Benchmark Comparison

EZY
1323 Holdings
Segment Benchmark
145 Constituents
Shared Holdings
137 (Count)
 
25.55% (Weight)
EZYSegment Benchmark
$147.16 B$67.35 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

99%75%
1%22%
0%2%
0%0%
16.1215.17

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.101.78

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

2.71%1.51%

The weighted average of the current yield on the portfolio’s holdings.

1451323

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.