WDAF/WDAPWisdomTree Asia Defence UCITS ETF - USD Acc
ISIN: IE000017NMH70.50%
Total expense ratio (TER)
As of 30/10/2026
24 March 2026
Inception Date
US$2,583,826
Fund AUM
As of 30/10/2026
USD
Base currency
Overview
Product Description
The WisdomTree Asia Defence UCITS ETF (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Asia Defence UCITS Index (the "Index").
Why WDAF/WDAP?
- Gain pure-play access to the Asia defence theme through a diversified basket of Asia Pacific ex-China companies directly involved in defence, concentrating on firms with material defence revenues and avoiding diluted conglomerate exposure.
- Capture policy-driven growth, with defence spending supported by national strategies and long-term security commitments that underpin multi-year procurement cycles and the region’s defence industrial base.
- The research for the selection and weighting of companies in the Index is conducted by WisdomTree with significant expertise in constructing thematic indices, ensuring the portfolio basket remains focused and relevant.
- The ETF is physically backed and UCITS compliant.
Potential Risks
- Although the Index was created to select companies with a high exposure to the Asia defence theme, there is no guarantee this objective will be achieved.
- An investment in equities may experience high volatility and should be considered as a longer-term investment.
- Higher growth companies such as those that play a part in megatrends tend to trade at higher valuations. The investor should consider the risk that comes with higher valuations as part of any investment decision.
- Investment risk may be concentrated in specific sectors, countries, companies or currencies.
- This list does not cover all risks - further risks are disclosed in the relevant key information document (KID/KIID) and Prospectus.
Articles and Research Papers
Aneeka Gupta
Asia defence: investing in the region’s growing capabilities
- Asia Defence
Aneeka Gupta, Mobeen Tahir, Pierre Debru
Geopolitics: when security matters more than efficiency
- EU Defence
- Asia Defence
- Global Defence
- Energy Transition Metals
- Europe Infrastructure
Baoqi Zhu
Japan's defence sector reaches an inflection point
Japan's defence story is gathering pace. Spending reached its target two years early. A decisive election result has firmed up political support, and new taxes now give defence its own funding stream. Export reform has also opened overseas markets, with Australia's frigate order an early win. We explain why 2026 could mark an inflection point for Japanese defence equities.
- Asia Defence
- Megatrends
Baoqi Zhu
Asia’s defence shift: from geopolitics to investment opportunity
This blog explores how rising geopolitical tensions and strategic autonomy are reshaping Asia’s defence landscape. As governments expand spending and build domestic industrial capacity, the region’s defence sector is becoming a multi-year investment theme. It also outlines how investors can gain targeted exposure through the WisdomTree Asia Defence UCITS ETF.
- Asia Defence
- Megatrends
Fund Overview
Product Overview | As of 30/10/2026 |
|---|---|
| ISIN | IE000017NMH7 |
| Asset Class | Equities |
| Base Currency | USD |
| Inception Date | 24 March 2026 |
| Dividend Frequency | N/A |
| Use of Income | Accumulating |
Net Asset Value | As of 30/10/2026 |
|---|---|
| NAV | US$18.456 |
| Daily Change | -US$0.436 |
| Daily return | -2.308% |
| Total AUM of fund | US$2,583,826 |
| Issuer AUM | US$19,324,343,209 |
Structure
Structure | As of 30/10/2026 |
|---|---|
| Legal Form | Irish Collective Asset-management Vehicle (ICAV) |
| Structure | Open-ended Exchange Traded Fund |
| Replication Method | Physical, Fully Replicated |
| Domicile | Ireland |
| Issuer | WisdomTree Issuer ICAV |
| Financial Year End | 31 December |
Further Legal and Tax Information | As of 30/10/2026 |
|---|---|
| ISA | Eligible |
| SIPP | Eligible |
| UCITS Eligible | Yes |
| UK Reporting Status | Yes |
| PEA Eligible | No |
| UCITS Compliant | Yes |
Key Service Providers
Key Service Providers | As of 30/10/2026 |
|---|---|
| Custodian | The Bank of New York Mellon SA/NV, Dublin Branch |
| Administrator | BNY Mellon Fund Services (Ireland) Designated Activity Company |
| Auditor | Deloitte Ireland LLP |
| Fund Manager | Irish Life Investment Managers |
Fees | As of 30/10/2026 |
|---|---|
| Total expense ratio (TER) | 0.50% |
Registered Countries
Market Capitalisation
Market Capitalisation | As of 30/10/2026 |
|---|---|
| Total Market Capitalisation ($ Trillion) | 0.36 |
| Fund MarketCap Breakdown | |
| Large Cap (> $10 Billion) | 48.04% |
| Mid Cap (≥ $2 Billion and ≤ $10 Billion) | 32.15% |
| Small Cap (< $2 Billion) | 19.81% |
Fund characteristics | As of 30/10/2026 |
|---|---|
| *Dividend Yield | 0.88% |
| Price/Earnings | 27.45 |
| Estimated Price/Earnings | 22.85 |
| Price/Book | 4.53 |
| Price/Sales | 2.31 |
| Price/Cash Flow | 30.68 |
| Gross Buyback Yield | 0.08% |
| Net Buyback Yield | -0.95% |
*Calculated using dividend income received. In the case of accumulating share classes, dividend income is accumulated by the fund. In the case of distributing share classes, dividend income is distributed to investors.
Holdings
As of 30/10/2026
Name | Weight (%) |
|---|---|
| HINDUSTAN AERONAUTICS INR5 | 8.95 |
| BHARAT ELECTRONICS LTD INR1 | 8.39 |
| Korea Aerospace Industries Ltd | 6.7 |
| Hanwha Techwin Co Ltd | 5.95 |
| Hyundai Rotem Co Ltd | 5.63 |
| Singapore Technologies Engineering Ltd | 4.75 |
| Hanwha Systems Co Ltd | 4.7 |
| Mitsubishi Heavy Industries Ltd | 4.34 |
| Kawasaki Heavy Industries Ltd | 4.27 |
| IHI Corp | 4.15 |
| Remaining Portfolio | 42.18 |
*Holdings are subject to change without notice.
Sector Breakdown
As of 30/10/2026
Name | Weight (%) |
|---|---|
Industrials | 85.8 |
Information Technology | 7.76 |
Materials | 3.79 |
Consumer Discretionary | 2.65 |
*Sectors are subject to change without notice
Country Allocation
Country | Weight (%) |
|---|---|
| India | 36.06% |
| South Korea | 30.54% |
| Japan | 15.68% |
| Australia | 10.24% |
| Singapore | 4.75% |
| Taiwan | 2.74% |
Listings & Codes
Country | Exchange | Trading Currency | Exchange Ticker | Bloomberg Ticker | RIC | SEDOL | ISIN | WKN | Listing Date |
|---|---|---|---|---|---|---|---|---|---|
| LSE | USD | WDAF | WDAF LN | WDAF.L | BVCKC20 | IE000017NMH7 | A41U4N | 01/04/2026 | |
| LSE | GBx | WDAP | WDAP LN | WDAP.L | BVCKC53 | IE000017NMH7 | A41U4N | 01/04/2026 | |
| Borsa Italiana | EUR | WDAF | WDAF IM | WDAF.MI | BVMT960 | IE000017NMH7 | A41U4N | 31/03/2026 | |
| Xetra | EUR | WDAF | WDAF GY | WDAFG.DE | BVMT971 | IE000017NMH7 | A41U4N | 31/03/2026 | |
| Euronext (FR) | EUR | WDAF | WDAF FP | WDAF.PA | BVK3C09 | IE000017NMH7 | A41U4N | 31/03/2026 | |
| SIX | USD | WDAF | WDAF SW | WDAF.S | BVMT982 | IE000017NMH7 | A41U4N | 31/03/2026 |
Index Details
WisdomTree Asia Defence UCITS Index (NTR)
The Index is designed to track the performance of Asia Pacific (ex-China) companies involved in the defence sector.
The Index was developed by WisdomTree, Inc. (“WT”). Companies must conduct their primary business activities in one of the developed or emerging Asia Pacific (ex-China) countries. The selection of companies within the Index is based on their revenue exposure to the defence sector. The Index further seeks to exclude companies that are involved in certain controversial weapons such as anti-personnel mines, cluster munitions, chemical and biological weapons, depleted uranium weapons and white phosphorus weapons and those that support nuclear weapons programmes to states outside the Treaty on the Non-Proliferation of Nuclear Weapons (commonly known as the Non-Proliferation Treaty or “NPT”).
A minimum of 20 stocks that meet the revenue exposure criteria as well as additional requirements such as minimum market capitalization and liquidity, are selected for inclusion. Each selected stock is assigned an exposure score based on the revenue exposure to the defence sector (the “Exposure Score”). The selected companies in the Index are weighted by market capitalization adjusted by the Exposure Score, subject to certain caps and criteria outlined in the Index methodology.
The Index is rebalanced on a quarterly basis.
Index Details | |
|---|---|
| Index Name | WisdomTree Asia Defence UCITS Index (NTR) |
| Currency | USD |
| Index Provider | WisdomTree, Inc. |
| Bloomberg Ticker | WTADEFUN |
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 6 |
ESG Characteristics
WTI will exclude the companies that are involved in certain controversial weapons such as cluster munitions, antipersonnel landmines, biological and chemical weapons, depleted uranium weapons and white phosphorus weapons and those that support nuclear weapons programmes to states outside the Treaty on the Non-Proliferation of Nuclear Weapons (commonly known as the Non-Proliferation Treaty or “NPT”). Visit our ESG Hub to learn more about WisdomTree's ESG approach.
Documents
Product
Dealing Calendar
KID
KIID
Index
Prospectus
Reports and Regulatory
Other Links and Documents
DISCLAIMERS
Certain funds referred to in this document are issued by WisdomTree Issuer ICAV (“WT Issuer”). WT Issuer is an open-ended, umbrella-type Irish Collective Asset-management Vehicle with segregated liability between sub-funds and is authorised by the Central Bank of Ireland (“CBI”) as an Undertaking for Collective Investment in Transferable Securities (“UCITS”) under Irish law. Each fund is represented by a separate class of shares (the “Shares”) issued by WT Issuer.
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.eu. 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.