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PUTW

WisdomTree CBOE S&P 500 PutWrite Strategy Fund

The WisdomTree CBOE S&P 500 PutWrite Strategy Fund seeks to track the performance, before fees and expenses, of the CBOE S&P 500 PutWrite Index (PUT), a collateralized put write strategy on the S&P 500 Index. The strategy is designed to receive a premium from the option buyer by selling a sequence of one-month, at-the-money, S&P 500 Index puts (SPX puts). If, however, the value of the S&P 500 Index falls below the SPX Put’s strike price, the option finishes in-the-money and the Fund pays the buyer the difference between the strike price and the value of the S&P 500 Index. The Fund’s strategy of selling cash-secured SPX Puts serves to partially offset a decline in the value of the S&P 500 Index to the extent of the premiums received.

Why PUTW?

  • Gain access to an institutional option overlay strategy in a low cost* 40 Act vehicle.
  • Use to complement exposure to S&P 500 Index with potential for higher risk-adjusted returns.
  • Use to help lower portfolio beta and reduce downside risk.
* Ordinary brokerage commissions apply.

Fund Overview

As of 03/27/2017
Profile
As of 03/27/2017
Expense Ratio
Net Expense Ratio, amount charged to shareholder1 0.38%
Gross Expense Ratio 0.44%
CUSIP 97717X560
Total Assets (000) $51,852.84
Shares Outstanding 1,850,004
Distribution Yield 0.00 %
SEC 30-day Yield 0.02 %
Options Available* No
Inception Date 02/24/2016
Yields are historical, will fluctuate and are not guaranteed
*Options are not suitable for all investors.
Trading Information
Lead Market Marker Jane Street
NAV Symbol PUTW.NV
IOPV Symbol PUTW.IV
Shares Out. Symbol PUTW.SO
1The Net Expense Ratio reflects a contractual waiver of 0.06% through December 31, 2017.

Net Asset Value

Net Asset Value
As of 03/27/2017
NAV $28.03
Change ($0.01)
Change % -0.04%
Price
As of 03/27/2017 Quotes Delayed ~ 15 mins
Price $28.03
Change $0.02
Change % 0.07%
Volume 15,242

Total Returns

Month End Performance
(02/28/2017)
NAV Returns Market Price Returns
Cumulative
1 Month 1.12% 1.19%
3 Month 3.41% 3.40%
Since Inception* 14.54% 14.60%
Average Annual
1 Year 14.31% 14.37%
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Since Inception* 14.33% 14.39%
Quarter End Performance
(12/31/2016)
NAV Returns Market Price Returns
Cumulative
Since Inception* 11.12% 11.26%
Average Annual
1 Year N/A N/A
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Since Inception* N/A N/A


Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is available above.

 

WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns are calculated using the daily 4:00pm net asset value (NAV). Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

 

After Tax Returns

Month End Performance
(02/28/2017)
After Tax Held After Tax Sold
Cumulative
1 Month 1.12% 0.63%
3 Month 2.69% 2.19%
Since Inception* 13.74% 10.86%
Average Annual
1 Year 13.51% 8.38%
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Since Inception* 13.54% 10.71%
Quarter End Performance
(12/31/2016)
After Tax Held After Tax Sold
Cumulative
Since Inception* 10.34% 6.59%
Average Annual
1 Year N/A N/A
3 Year N/A N/A
5 Year N/A N/A
10 Year N/A N/A
Since Inception* N/A N/A


Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is available above.

 

WisdomTree shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns are calculated using the daily 4:00pm net asset value (NAV). Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

 

After-Tax Held Returns represent return on Fund shares after taxes on distributions and assumes Fund shares have not been sold. After-Tax Sold Returns represent returns on Fund shares after taxes on distributions and the sale of the Fund shares.

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's individual tax rates and may differ from those shown.

 

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.

 

Asset Classification

Asset Group
As of 03/27/2017
Asset Group Weight
Index Options 100.00 %
Equity Index 100.00 %
Cash 14.97 %
Cash 14.97 %
Government 85.03 %
Treasuries 85.03 %

Top Holdings

As of 03/27/2017
*Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date 12/23/2016
Record Date 12/28/2016
Payable Date 12/30/2016
Ordinary Income $0.00000
Short Term Capital Gains $0.00000
Long Term Capital Gains $0.00000
Return of Capital $0.00000
Total Distribution $0.00000
Ex-Dividend Date 12/05/2016
Record Date 12/07/2016
Payable Date 12/09/2016
Ordinary Income $0.00000
Short Term Capital Gains $0.24103
Long Term Capital Gains $0.37916
Return of Capital $0.00000
Total Distribution $0.62019

This information must be preceded or accompanied by a prospectus, click here to view or download prospectus. We advise you to consider the fund's objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the fund. Please read the prospectus carefully before you invest.

There are risks associated with investing, including possible loss of principal. The Fund will invest in derivatives, including S&P 500 Index put options (“SPX Puts”). Investments in derivative investments can be volatile, may be less liquid than securities and may be more sensitive to the effect of varied economic conditions. The value of the SPX Puts in which the Fund invests is partly based on the volatility used by market participants to price such options (i.e., implied volatility). The options values are partly based on the volatility used by dealers to price such options, so increases in the implied volatility of such options will cause the value of such options to increase, which will result in a corresponding increase in the liabilities of the Fund and a decrease the Fund’s NAV. Options may be subject to volatile swings in price influenced by changes in the value of the underlying instrument. The potential return to the Fund is limited to the amount of option premiums it receives; however, the Fund can potentially lose up to the entire strike price of each option it sells. Due to the investment strategy of the Fund, it may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

  • Weighted Average Coupon - The mean of the coupon rate of the underlying bonds in a portfolio.
  • Fund Distribution Yield - Fund Distribution Yield is calculated by annualizing the most recent Fund distribution and dividing by the current Fund NAV. The yield represents a single distribution from the Fund and does not represent the total returns of the Fund.
  • SEC 30–day Yield - The yield figure reflects the dividends and interest earned during the period, after the deduction of the fund's expenses. This is also referred to as the "standardized yield."
  • IOPV – IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund's NAV every fifteen seconds throughout the trading day.

WisdomTree Funds are distributed by Foreside Fund Services, LLC in the U.S. only.

The CBOE S&P 500 PutWrite Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and [CBOE], and has been licensed for use by WisdomTree. Standard & Poors ® and S&P ® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones ® is a registered trademark of Dow Jones Trademarks Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by WisdomTree. CBOE ® is a trademark of the Chicago Board Options Exchange, Incorporated, and has been licensed for use by SPDJI and WisdomTree. The WisdomTree CBOE S&P 500 PutWrite Strategy Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or the Chicago Board Options Exchange, Incorporated and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the CBOE S&P 500 PutWrite Index.

Neither WisdomTree Investments, Inc., nor its affiliates, nor Foreside Fund Services, LLC, or its affiliates provide tax advice. All references to tax matters or information provided on this site are for illustrative purposes only and should not be considered tax advice and cannot be used for the purpose of avoiding tax penalties. Investors seeking tax advice should consult an independent tax advisor.