Valuing companies based on dividends is well-documented and understood. In practice, though, this theory has been stressed over the last decade. Matt Wagner illustrates the impact on fundamentals from an approach that combines dividends and profitability.
After 24 months of live performance, the WisdomTree U.S. Multifactor Fund (USMF) has met the objectives that were set out when it was launched and has the potential to generate higher absolute returns over the long run. Alejandro Saltiel examines how this factor strategy performed over the last two years.
Through the first six months of the year, emerging markets have lagged most developed markets, despite entering the year poised for a rally and then falling during May’s sell-off. In light of this volatility, we believe a dividend-weighted approach to emerging market small-cap equities strikes an intriguing balance between return potential and volatility mitigation.
Due to the strong performance of quality strategies—and the resilience of the factor during times of market volatility—capital has flowed into quality-focused funds this year. A lot of factor discussions are U.S.-centric, but quality has had a significant performance advantage in developed international markets. Matt Wagner discusses our International Hedged Quality Dividend Growth strategy.
Jeremy J Siegel
Senior Investment Strategy Advisor
CEO of WisdomTree
Jeremy Schwartz, CFA
Executive Vice President, Global Head of Research
Christopher Gannatti, CFA
Head of Research, Europe
Christopher Gannatti began at WisdomTree as a Research Analyst in December 2010, working directly with Jeremy Schwartz, CFA®, Director of Research. In January of 2014, he was promoted to Associate Director of Research where he was responsible to lead different groups of analysts and strategists within the broader Research team at WisdomTree. In February of 2018, Christopher was promoted to Head of Research, Europe, where he will be based out of WisdomTree’s London office and will be responsible for the full WisdomTree research effort within the European market, as well as supporting the UCITs platform globally. Christopher came to WisdomTree from Lord Abbett, where he worked for four and a half years as a Regional Consultant. He received his MBA in Quantitative Finance, Accounting, and Economics from NYU’s Stern School of Business in 2010, and he received his bachelor’s degree from Colgate University in Economics in 2006. Christopher is a holder of the Chartered Financial Analyst designation.
Head of Fixed Income Strategy
Tripp Zimmerman, CFA
Head of Fixed Income & Currency
Associate Director, Asset Allocation and Modern Alpha
Head of Capital Markets
Associate Director of Capital Markets
Head of Europe
Joseph Tenaglia, CFA
Associate Director, Asset Allocation
Jianing Wu joined WisdomTree as a Research Analyst in October 2018. She is responsible for analyzing market trends and helping support WisdomTree’s research efforts. Previously, Jianing completed internships and projects at Geode Capital, Starwint Capital, and Invesco Great Wall Fund Management with a focus in quantitative research. Jianing received her M.S in Finance from the Massachusetts Institute of Technology. She graduated with honors from Boston College with degrees in Mathematics and Philosophy.
Jeff Weniger, CFA
Director, Asset Allocation
Alejandro Saltiel, CFA
Associate Director of Modern Alpha
Alejandro Saltiel joined WisdomTree as a Quantitative Research Analyst in May 2017. He is responsible for quantitative research on WisdomTree’s products and global equity markets. Prior to joining WisdomTree, Alejandro worked at HSBC Asset Management’s Mexico City office as Portfolio Manager for multi-asset mutual funds. He started his career working at a boutique hedge fund that specialized on trading options on sector-levered ETFs. Alejandro received his Master’s in Financial Engineering degree from Columbia University in 2017 and a Bachelor’s in Engineering degree from the Instituto Tecnológico Autónomo de México (ITAM) in 2010. He is a holder of the Chartered Financial Analyst designation.
Matt Wagner, CFA
Modern Alpha Analyst
Matt Wagner joined WisdomTree in May 2017 as a member of the Research team. He is responsible for research on WisdomTree’s products and communicating the firm’s views on the markets. Matt started his career at Morgan Stanley, working as an analyst in Treasury Capital Markets from 2015 to 2017 where he focused on unsecured funding planning, execution and risk management. Matt graduated from Boston College in 2015 with a B.A. in International Studies with a concentration in Economics. Matt is a holder of the Chartered Financial Analyst designation.
Investment Strategy Analyst
Brian Manby joined WisdomTree in October 2018 as an Investment Strategy Analyst. He is responsible for assisting in the creation and analysis of WisdomTree’s model portfolios, as well as helping support the firm’s research efforts. Prior to joining WisdomTree, he worked for FactSet Research Systems, Inc. as a Senior Consultant, where he assisted clients in the creation, maintenance and support of FactSet products in the investment management workflow. Brian received a B.A. as a dual major in Economics and Political Science from the University of Connecticut in 2016, and is pursuing the Chartered Financial Analyst designation.
Kara Marciscano, CFA
With the U.S. equity markets enjoying a tremendous positive run over the last six to seven years, with few drawdowns passing the 10% threshold, some investors are looking for alternative investment solutions designed to hedge market risk.
WisdomTree believes that weighting by market capitalization may not always be the best approach to indexing. Instead, we believe a disciplined strategy of anchoring allocations back to a measure of relative value, based on fundamentals such as dividends or earnings, can add value over time.
At WisdomTree, we continue to believe one of the most important themes impacting the global markets has been the strengthening U.S. dollar—and this is a trend we expect to continue for some time.
Each year, we monitor the global Dividend Stream® for growth so that we can refresh the weights of the underlying constituent companies in various WisdomTree Indexes. This year, we incorporated a new global Index methodology covering three new Indexes. Jeremy Schwartz introduces this new approach.