WENGWisdomTree Strategic Metals UCITS ETF - GBP Hedged Acc
ISIN: IE0003XI1PW00.55%
Total expense ratio (TER)
As of 02/07/2026
7 January 2025
Inception Date
US$369,974,651
Fund AUM
As of 02/07/2026
GBP
Base currency
Overview
Product Description
The WisdomTree Strategic Metals UCITS ETF (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Energy Transition Metals Commodity UCITS Total Return Index (the "Index"). The Index is designed to track the performance of a diversified basket of commodity metals that are associated with energy transition themes, which include, but are not limited to, electric vehicles, transmission, charging, energy storage, solar, wind and hydrogen production. The share class seeks to deliver exposure to the index while at the same time neutralising exposure to fluctuations of the British Pound, by implementing a FX hedging methodology.
Why WENG?
- The energy transition - the electrification and decarbonisation of the energy system - has become a large driver of demand for metal commodities.
- The ETF offers exposure to a diversified basket of metal commodities that are involved in energy transition technologies, such as electric vehicles, transmission, charging, energy storage, solar, wind, and hydrogen production.
- The research for the selection and weighting of commodities in the Index and, subsequently, the ETF, is conducted by experts in the energy transition space, ensuring the portfolio basket remains focused and relevant.
- Forward looking, with weights assigned to metals in the basket factoring in both energy-transition related demand and market balance.
- Currency volatility is minimised through the use of currency forward contracts.
- The ETF is UCITS compliant.
Potential Risks
- Although the Index was created to select commodity metals with a relatively higher exposure to the energy transition theme, there is no guarantee this objective will be achieved.
- An investment in commodities may experience high volatility and should be considered as a longer term investment.
- The performance of commodity futures based indices may differ significantly from commodity spot prices.
- The returns payable on the Fund are dependent on payments received by the Fund from the swap counterparty under the terms of the relevant swap and therefore are subject to the credit risk of the swap counterparty.
- The return of the forward currency contracts, which are rolled on a monthly basis, are designed to minimise currency fluctuations but may not perfectly offset the actual fluctuations.
- This list does not cover all risks-further risks are disclosed in the KIID and Prospectus.
Articles and Research Papers
Nitesh Shah
What’s Hot: Oil prices begin pricing the peace
The expected US-Iran MoU has shifted oil market focus from supply disruption to supply recovery. While reopening the Strait of Hormuz could restore oil flows, uncertainties remain around security, insurance and sanctions relief. Iranian production recovery and the UAE's exit from OPEC could boost supply, while weak Asian demand raises the risk of a significant oil surplus emerging in 2027.
- Commodities
Nitesh Shah
What’s Hot: What falling oil Inventories could mean for energy markets
Global oil inventories are falling at a record pace as the Strait of Hormuz disruption removes around 13 million barrels per day of supply. While headline inventories remain high, usable stocks are being depleted rapidly. As inventories approach operational limits, the market's ability to absorb further shocks diminishes, increasing the risk of a sharp spike in oil prices.
- Commodities
- Broad Commodities
Aneeka Gupta
Beijing Without Breakthroughs: What the Trump–Xi Summit Means for Investors
The Trump–Xi Beijing summit delivered managed stability, not structural change. Technology, critical minerals and Taiwan remain unresolved. For investors, two themes stand out: Western supply chain diversification in strategic metals and rare earths, and durable agricultural commodity exposure driven by food security and climate risk, not diplomacy.
- Broad Commodities
- Commodities
- Equities
- US
Nitesh Shah, Aneeka Gupta
Two Shocks, One Direction: The Case for Agricultural Commodities in 2026
Agricultural commodities are re-rating in 2026 as two converging supply shocks — the Iran war's disruption to fertilizer flows through the Strait of Hormuz and a developing El Niño, compress production across grains, oilseeds, and softs simultaneously. 
- Commodities
Fund Overview
| Product Overview | As of 02/07/2026 |
|---|---|
| ISIN | IE0003XI1PW0 |
| Asset Class | Commodities |
| Base Currency | GBP |
| Inception Date | 7 January 2025 |
| Currency Hedged | No |
| Dividend Frequency | N/A |
| Use of Income | Accumulating |
| Net Asset Value | As of 02/07/2026 |
|---|---|
| NAV | £13.701 |
| Daily Change | £0.003 |
| Daily return | 0.020% |
| Total AUM of fund | US$369,974,651 |
| Issuer AUM | US$16,793,484,483 |
Structure
| Structure | As of 02/07/2026 |
|---|---|
| Legal Form | Irish Collective Asset-management Vehicle (ICAV) |
| Structure | Open-ended Exchange Traded Fund |
| Replication Method | US TBills With Swap Overlay |
| Domicile | Ireland |
| Issuer | WisdomTree Issuer ICAV |
| Financial Year End | 31 December |
| UCITS Compliant | Eligible |
| Further Legal and Tax Information | As of 02/07/2026 |
|---|---|
| ISA | Eligible |
| SIPP | Eligible |
| UCITS Eligible | Yes |
| UK Reporting Status | No |
| PEA Eligible | No |
Key Service Providers
| Key Service Providers | As of 02/07/2026 |
|---|---|
| Custodian | The Bank of New York Mellon SA/NV, Dublin Branch |
| Administrator | BNY Mellon Fund Services (Ireland) Designated Activity Company |
| Auditor | Deloitte Ireland LLP |
| Fund Manager | Assenagon Asset Management S.A |
| Fees | As of 02/07/2026 |
|---|---|
| Total expense ratio (TER) | 0.55% |
| Annual Swap Rate | 0.24% |
Registered Countries
Benchmark Composition
As of 02/07/2026
| Name | Weight (%) |
|---|---|
| Copper (COMEX) | 21.5 |
| Aluminum | 19.75 |
| Nickel | 12.62 |
| Tin | 11.41 |
| Zinc | 11.14 |
| Silver | 11.07 |
| Lead | 6.96 |
| Platinum | 2.19 |
| Cobalt | 1.82 |
| Lithium | 1.54 |
| Remaining Portfolio | 0 |
*Holdings are subject to change without notice.
Sector Breakdown
As of 02/07/2026
| Name | Weight (%) |
|---|---|
Industrial Metals | 86.75 |
Precious Metals | 13.25 |
Industrial Metal | 0 |
*Sectors are subject to change without notice
Holdings
| Name | Weight (%) |
|---|---|
| US Treasury Bill (BT9R101) | 11.77% |
| US Treasury Bill (BVBFK11) | 11.09% |
| US Treasury Bill (BTWQYX9) | 11.05% |
| US Treasury Bill (BV3PBJ4) | 10.43% |
| US Treasury Bill (BVPJDQ5) | 10.04% |
| US Treasury Bill (BT3F9K7) | 8.87% |
| US Treasury Bill (BTMT074) | 8.22% |
| US Treasury Bill (BV2FL84) | 6.89% |
| US Treasury Bill (BRT7WS2) | 6.58% |
| US Treasury Bill (BVN7R03) | 6.34% |
| US Treasury Bill (BVMNBH7) | 5.98% |
| US Treasury Bill (BXM7C47) | 2.96% |
| CASH W-O | 0.03% |
| EURO INCOME A/C | 0.03% |
| STERLING POUND | 0.02% |
Listings & Codes
| Country | Exchange | Trading Currency | Exchange Ticker | Bloomberg Ticker | RIC | SEDOL | ISIN | WKN | Listing Date |
|---|---|---|---|---|---|---|---|---|---|
| LSE | GBP | WENG | WENG LN | WENG.L | BS9G9X0 | IE0003XI1PW0 | A40YEJ | 15/01/2025 |
Index Details
WisdomTree Energy Transition Metals Commodity UCITS Index TR
The Index is designed to track the performance of a diversified basket of metal commodities that are associated with the energy transition theme, which include, but are not limited to electric vehicles, transmission, charging, energy storage, solar, wind, and hydrogen production.
The Index was developed by WisdomTree, Inc. (“WT”), in collaboration with third party specialists in the energy transition space. The selection and weighting of index components is based on an intensity rating, created in collaboration with third party specialists, which measures the exposure and growth metrics for each commodity within the usage of energy transition technologies, as well as each commodity’s market balance.
The maximum weight of each commodity is capped at 20% at the rebalance. The Index is reconstituted on a semi-annual basis. Excess and total return versions of the Index are calculated and published.
| Index Details | |
|---|---|
| Index Name | WisdomTree Energy Transition Metals Commodity UCITS Index TR |
| Currency | USD |
| Index Provider | WisdomTree, Inc. |
| Bloomberg Ticker | WTETMUTR |
Documents and Links
Responsible Investing
SFDR Disclosure
The EU Sustainable Finance Disclosures Regulation (SFDR) took effect on 10 March 2021 as part of the EU Action Plan on Sustainable Finance. The SFDR lays down harmonised sustainability related disclosure rules for EU financial market participants and advisors and requires certain sustainability disclosures to be made for financial products which promote environmental or social characteristics (Article 8 SFDR) and funds which have a sustainable investment objective (Article 9 SFDR).
There are different SFDR product categorisations for these sustainability disclosure requirements:
+ Article 6 products: require disclosures relating to the manner in which sustainability risks are integrated into the decision-making process.
+ Article 8 products: promote, among other characteristics, environmental or social characteristics or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.
+ Article 9 products: have sustainable investment as their objective
Please refer to EU regulation guidelines for more details: https://www.esma.europa.eu/sections/sustainable-finance
SFDR categorisations | |
|---|---|
SFDR Disclosure | Article 8 |
ESG Characteristics
The fund tracks an index which designed to track the performance of a diversified basket of metals commodities that are associated with energy transition themes, which include, but are not limited to, electric vehicles, transmission, charging, energy storage, solar, wind and hydrogen production. Relevant commodities are selected based on the representativeness of the energy transition themes and liquidity criteria as described in the Index methodology.
Collateral Details
Collateral Structure
Replicating Exposure to Commodities Through a Swap
The Fund aims to track the WisdomTree Energy Transition Metals Commodity UCITS Index (the “Index”). The Fund gains indirect exposure to the constituents of the Index through the use of swaps on the Index. The Fund holds a portfolio of short-term US T-bills.
Structure Diagram
Counterparty Risk Management
Counterparty risk is primarily managed through the daily exchange of collateral between the Fund and its swap provider(s) (also referred to as the swap counterparty).
The value of the collateral required is based on a daily calculation of counterparty exposure using the prior day’s mark-to-market of the swaps and any unsettled cash flowing between the Fund and the swap provider.
Assets posted as collateral may only include cash (US Dollars only) or government bonds of US, UK, France or Germany, with a minimum rating of AA-/Aa3 (“eligible collateral assets”). When valuing the bonds posted as collateral, a haircut is applied to each bond's value based on the issuing country and the bond's maturity. Applying a haircut to the value of eligible collateral typically results in the collateral value exceeding the counterparty exposure and in any exposure being “over-collateralised”.
Documents
DISCLAIMERS
The products discussed in this document are issued by WisdomTree Issuer ICAV (“WT Issuer”). WT Issuer is an umbrella investment company with variable capital having segregated liability between its funds organised under the laws of Ireland as an Irish Collective Asset-management Vehicle and authorised by the Central Bank of Ireland (“CBI”). WT Issuer is organised as an Undertaking for Collective Investment in Transferable Securities (“UCITS”) under the laws of Ireland and shall issue a separate class of shares ("Shares”) representing each fund.
The Fund is described in a Key Information Document (KID) or Key Investor Information Document (KIID) for UK investors, and the prospectus of WT Issuer (“WT Prospectus”). A copy of the WT Prospectus and the KID / KIID is available, for EEA/UK only, in English at www.wisdomtree.com . Where required under national rules, the KID will also be available in the local language of the relevant EEA Member State. Investors should read the WT Prospectus before investing and should refer to the section of the WT Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the Shares.
The summary of investor rights associated with an investment in the fund is available in English on WisdomTree Europe’s website. WisdomTree Management Limited may decide to terminate the arrangements made for the marketing of its collective investment undertakings. In such circumstances, shareholders in the affected EEA Member State will be notified of this decision and will be provided with the opportunity to redeem their shareholding in the fund free of any charges or deductions for at least 30 working days from the date of such notification.
This product is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements. Please refer to the FCA website which details further information in relation to sustainability disclosure requirements.