As filed with the U.S. Securities and Exchange Commission on November 26, 2018
1933 Act File No. 333-132380
1940 Act File No. 811-21864
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]
Pre-Effective Amendment No. ___
Post-Effective Amendment No. 661 [X]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT
OF 1940 [X]
Amendment No. 663 [X]
(Check appropriate box or boxes.)
WISDOMTREE TRUST
(Exact Name of Registrant as Specified in Charter)
245 Park Avenue
35th Floor
New York, NY 10167
(Address of Principal Executive Offices) (Zip Code)
1-866-909-9473
(Registrants Telephone Number, including Area Code)
JONATHAN STEINBERG
WISDOMTREE TRUST
245 Park Avenue
35th Floor
New York, NY 10167
(Name and Address of Agent for Service)
Copies to:
W. John McGuire Morgan, Lewis & Bockius LLP 1111 Pennsylvania Avenue, NW Washington, DC 20004 |
Ryan Louvar WisdomTree Asset Management, Inc. 245 Park Avenue, 35th Floor New York, NY 10167 |
It is proposed that this filing will become effective (check appropriate box):
[X] Immediately upon filing pursuant to paragraph (b).
[ ] On (date) pursuant to paragraph (b)(1)(iii).
[ ] 60 days after filing pursuant to paragraph (a)(1).
[ ] On (date) pursuant to paragraph (a)(1).
[ ] 75 days after filing pursuant to paragraph (a)(2).
[ ] On (date) pursuant to paragraph (a)(2) of Rule 485.
If appropriate, check the following box:
[ ] This post-effective amendment designates a new effective date for a previously filed post-effective amendment.
EXPLANATORY NOTE
This Post-Effective Amendment No. 661 relates to the WisdomTree Yield Enhanced Global Aggregate Bond Fund (the Fund), a series of WisdomTree Trust (the Trust). The sole purpose of the filing is to file as an Exhibit to the Trusts Registration Statement, risk/return summary information in interactive data format for the Fund.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 661 to Registration Statement No. 333-132380 to be signed on its behalf by the undersigned, duly authorized, in the City of New York, State of New York, on this 26th day of November, 2018.
WISDOMTREE TRUST (Registrant) | ||
By: |
/s/ Jonathan Steinberg* | |
Jonathan Steinberg | ||
President (Principal Executive Officer) |
Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 661 to the Registration Statement has been signed below by the following persons in the capacity and on the dates indicated.
Signatures |
Title |
Date | ||
/s/ Jonathan Steinberg* Jonathan Steinberg |
President (Principal Executive Officer) and Trustee |
November 26, 2018 | ||
/s/ David Castano* David Castano |
Treasurer (Principal Financial and Accounting Officer) |
November 26, 2018 | ||
/s/ David Chrencik* David Chrencik |
Trustee |
November 26, 2018 | ||
/s/ Joel Goldberg* Joel Goldberg |
Trustee |
November 26, 2018 | ||
/s/ Toni Massaro* Toni Massaro |
Trustee |
November 26, 2018 | ||
/s/ Melinda Raso Kirstein* Melinda Raso Kirstein |
Trustee |
November 26, 2018 | ||
/s/ Victor Ugolyn* Victor Ugolyn |
Trustee |
November 26, 2018 |
*By: |
/s/ Ryan Louvar |
|||
Ryan Louvar |
||||
(Attorney-in-Fact) |
Exhibit Index
Exhibit No. |
||
EX-101.INS |
XBRL Instance Document | |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document | |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase | |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase | |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase | |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 485BPOS |
Document Period End Date | dei_DocumentPeriodEndDate | Nov. 08, 2018 |
Registrant Name | dei_EntityRegistrantName | WisdomTree Trust |
Central Index Key | dei_EntityCentralIndexKey | 0001350487 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Nov. 08, 2018 |
Document Effective Date | dei_DocumentEffectiveDate | Nov. 08, 2018 |
Prospectus Date | rr_ProspectusDate | Nov. 08, 2018 |
Entity Inv Company Type | dei_EntityInvCompanyType | N-1A |
WisdomTree Yield Enhanced Global Aggregate Bond Fund | ||||||||||||||||||||||||||||||
<b>WisdomTree Yield Enhanced Global Aggregate Bond Fund </b> | ||||||||||||||||||||||||||||||
<b>Investment Objective </b> | ||||||||||||||||||||||||||||||
The WisdomTree Yield Enhanced Global Aggregate Bond Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the Bloomberg Barclays Global Aggregate Enhanced Yield Index (USD Hedged) (the “Index”). | ||||||||||||||||||||||||||||||
<b>Fees and Expenses of the Fund </b> | ||||||||||||||||||||||||||||||
The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. The fees are expressed as a percentage of the Fund’s average net assets. | ||||||||||||||||||||||||||||||
<b>Shareholder Fees </b> (fees paid directly from your investment) | ||||||||||||||||||||||||||||||
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<b>Annual Fund Operating Expenses </b> (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
<b>Example </b> | ||||||||||||||||||||||||||||||
The following example is intended to help retail investors compare the cost of investing in the Fund with the cost of investing in other funds. It illustrates the hypothetical expenses that such investors would incur over various periods if they were to invest $10,000 in the Fund for the time periods indicated and then redeem all of the shares at the end of those periods. This example assumes that the Fund provides a return of 5% a year and that operating expenses remain the same. This example does not include the brokerage commissions that retail investors may pay to buy and sell shares of the Fund. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
<b>Portfolio Turnover </b> | ||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in a substantial amount of distributions from the Fund to be taxed as ordinary income, which may limit the tax efficiency of the Fund. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. Because the Fund is newly organized, portfolio turnover information is not yet available. | ||||||||||||||||||||||||||||||
<b>Principal Investment Strategies of the Fund </b> | ||||||||||||||||||||||||||||||
The Fund employs a “passive management” – or indexing – investment approach designed to track the performance of the Index. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The Fund may invest in exchange-traded funds (“ETFs”) that invest in the foregoing securities (each, an “Underlying Fund”). Each Underlying Fund, which is expected to be advised by WisdomTree Asset Management or its affiliates, may constitute a substantial portion of the Fund’s assets. The Index is designed to broadly capture the global investment grade, fixed income securities market while seeking to (1) enhance yield within desired risk parameters and constraints, and (2) neutralize exposure to the fluctuations in the value of foreign currencies relative to U.S. dollars. The Index uses a rules-based approach to re-weight distinct subgroups of the Bloomberg Barclays Global Aggregate Index (the “Global Agg Universe”), with the aim of earning a higher yield while broadly maintaining the risk characteristics of the Global Agg Universe when hedged into U.S. dollars. The Global Agg Universe includes, but is not limited to, constituents from Europe, Asia Pacific, United States and Canada. The subgroups identified within the Global Agg Universe reflect the different risk dimensions of investment grade securities, such as currency denomination, sector (asset class) exposure (i.e., treasuries, agency, credit, or securitized), interest rate risk (i.e., duration) and credit risk (i.e., spread). Each subgroup is defined and constructed to encompass a distinct investable exposure offering unique characteristics. The Index re-weights these subgroups based on a two-step process. First, the Index allocates weights between sectors of each major currency bucket of the Global Agg Universe, while adhering to the risk dimensions specified below relative to the applicable currency bucket. Second, the Index allocates weights between each major currency bucket to enhance the net yield of the Global Agg Universe. Yield can typically be increased by shifting exposure along any of a number of these risk dimensions and re-weighting the subcomponents of the Global Agg Universe. Risk is quantified as tracking error of the Index against the market value weighted combination of the above components. Constituent securities in the Index include securities issued by sovereigns, other government-related entities and corporations, debt that is backed by both residential and commercial mortgages, and asset-backed securities. Each constituent security is publicly issued in global or regional financial markets, features a fixed rate coupon and has at least one year until final maturity. Securities with coupons linked to inflation and floating rate benchmarks are excluded from the Index as well as private placements and bonds with equity- like features, such as preferred and convertible securities. The duration range of the Index is expected to be within one year of the duration of the Global Agg Universe. Historically, such universe has had a duration range between approximately four and eight years. Duration is a measure used to determine the sensitivity of a portfolio to changes in interest rates with a longer duration portfolio being more sensitive to changes in interest rates. For example, the value of a fund with a portfolio duration of eight years would be expected to drop by 8% for every 1% increase in interest rates. The Fund may invest up to 20% of its assets in other fixed income securities and/or such other investments that the Adviser and/or Sub-Adviser believe will help the Fund track the performance of the Index. To the extent the Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of industries, the Fund will concentrate its investments to approximately the same extent as the Index. | ||||||||||||||||||||||||||||||
<b>Principal Risks of Investing in the Fund </b> | ||||||||||||||||||||||||||||||
You can lose money on your investment in the Fund. The Fund is subject to the risks described below. Some or all of these risks may adversely affect the Fund’s net asset value per share (“NAV”), trading price, yield, total return and/or ability to meet its objective. For more information about the risks of investing in the Fund, see the sections in the Fund’s Prospectus titled “Additional Principal Risk Information About the Fund” and “Additional Non-Principal Risk Information.”
| ||||||||||||||||||||||||||||||
<b>Fund Performance </b> | ||||||||||||||||||||||||||||||
The Fund is new and therefore does not have a performance history. Updated performance information for the Fund will be available online on the Fund’s website at www.wisdomtree.com. |
Label | Element | Value | ||||||
---|---|---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||||
Registrant Name | dei_EntityRegistrantName | WisdomTree Trust | ||||||
Prospectus Date | rr_ProspectusDate | Nov. 08, 2018 | ||||||
WisdomTree Yield Enhanced Global Aggregate Bond Fund | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Risk/Return [Heading] | rr_RiskReturnHeading | <b>WisdomTree Yield Enhanced Global Aggregate Bond Fund </b> | ||||||
Objective [Heading] | rr_ObjectiveHeading | <b>Investment Objective </b> | ||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The WisdomTree Yield Enhanced Global Aggregate Bond Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the Bloomberg Barclays Global Aggregate Enhanced Yield Index (USD Hedged) (the “Index”). | ||||||
Expense [Heading] | rr_ExpenseHeading | <b>Fees and Expenses of the Fund </b> | ||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. The fees are expressed as a percentage of the Fund’s average net assets. | ||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | <b>Shareholder Fees </b> (fees paid directly from your investment) | ||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | <b>Annual Fund Operating Expenses </b> (expenses that you pay each year as a percentage of the value of your investment) | ||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | December 31, 2021 | ||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | <b>Portfolio Turnover </b> | ||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in a substantial amount of distributions from the Fund to be taxed as ordinary income, which may limit the tax efficiency of the Fund. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. Because the Fund is newly organized, portfolio turnover information is not yet available. | ||||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | This example does not include the brokerage commissions that retail investors may pay to buy and sell shares of the Fund. | ||||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | "Other Expenses" and "Acquired Fund Fees and Expenses" are based on estimated amounts for the current fiscal year. | ||||||
Acquired Fund Fees and Expenses, Based on Estimates [Text] | rr_AcquiredFundFeesAndExpensesBasedOnEstimates | “Acquired Fund Fees and Expenses” are based on estimated amounts for the current fiscal year. | ||||||
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | The Total Annual Fund Operating Expenses in this fee table may not correlate to the expense ratios in the Fund’s financial highlights and financial statements because the financial highlights and financial statements reflect only the operating expenses of the Fund and do not include Acquired Fund Fees and Expenses, which are fees and expenses incurred indirectly by the Fund through its investments in certain underlying investment companies. | ||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | <b>Example </b> | ||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | The following example is intended to help retail investors compare the cost of investing in the Fund with the cost of investing in other funds. It illustrates the hypothetical expenses that such investors would incur over various periods if they were to invest $10,000 in the Fund for the time periods indicated and then redeem all of the shares at the end of those periods. This example assumes that the Fund provides a return of 5% a year and that operating expenses remain the same. This example does not include the brokerage commissions that retail investors may pay to buy and sell shares of the Fund. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||
Strategy [Heading] | rr_StrategyHeading | <b>Principal Investment Strategies of the Fund </b> | ||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund employs a “passive management” – or indexing – investment approach designed to track the performance of the Index. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of the securities in the Index whose risk, return and other characteristics resemble the risk, return and other characteristics of the Index as a whole. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The Fund may invest in exchange-traded funds (“ETFs”) that invest in the foregoing securities (each, an “Underlying Fund”). Each Underlying Fund, which is expected to be advised by WisdomTree Asset Management or its affiliates, may constitute a substantial portion of the Fund’s assets. The Index is designed to broadly capture the global investment grade, fixed income securities market while seeking to (1) enhance yield within desired risk parameters and constraints, and (2) neutralize exposure to the fluctuations in the value of foreign currencies relative to U.S. dollars. The Index uses a rules-based approach to re-weight distinct subgroups of the Bloomberg Barclays Global Aggregate Index (the “Global Agg Universe”), with the aim of earning a higher yield while broadly maintaining the risk characteristics of the Global Agg Universe when hedged into U.S. dollars. The Global Agg Universe includes, but is not limited to, constituents from Europe, Asia Pacific, United States and Canada. The subgroups identified within the Global Agg Universe reflect the different risk dimensions of investment grade securities, such as currency denomination, sector (asset class) exposure (i.e., treasuries, agency, credit, or securitized), interest rate risk (i.e., duration) and credit risk (i.e., spread). Each subgroup is defined and constructed to encompass a distinct investable exposure offering unique characteristics. The Index re-weights these subgroups based on a two-step process. First, the Index allocates weights between sectors of each major currency bucket of the Global Agg Universe, while adhering to the risk dimensions specified below relative to the applicable currency bucket. Second, the Index allocates weights between each major currency bucket to enhance the net yield of the Global Agg Universe. Yield can typically be increased by shifting exposure along any of a number of these risk dimensions and re-weighting the subcomponents of the Global Agg Universe. Risk is quantified as tracking error of the Index against the market value weighted combination of the above components. Constituent securities in the Index include securities issued by sovereigns, other government-related entities and corporations, debt that is backed by both residential and commercial mortgages, and asset-backed securities. Each constituent security is publicly issued in global or regional financial markets, features a fixed rate coupon and has at least one year until final maturity. Securities with coupons linked to inflation and floating rate benchmarks are excluded from the Index as well as private placements and bonds with equity- like features, such as preferred and convertible securities. The duration range of the Index is expected to be within one year of the duration of the Global Agg Universe. Historically, such universe has had a duration range between approximately four and eight years. Duration is a measure used to determine the sensitivity of a portfolio to changes in interest rates with a longer duration portfolio being more sensitive to changes in interest rates. For example, the value of a fund with a portfolio duration of eight years would be expected to drop by 8% for every 1% increase in interest rates. The Fund may invest up to 20% of its assets in other fixed income securities and/or such other investments that the Adviser and/or Sub-Adviser believe will help the Fund track the performance of the Index. To the extent the Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of industries, the Fund will concentrate its investments to approximately the same extent as the Index. |
||||||
Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | To the extent the Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of industries, the Fund will concentrate its investments to approximately the same extent as the Index. | ||||||
Risk [Heading] | rr_RiskHeading | <b>Principal Risks of Investing in the Fund </b> | ||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | You can lose money on your investment in the Fund. The Fund is subject to the risks described below. Some or all of these risks may adversely affect the Fund’s net asset value per share (“NAV”), trading price, yield, total return and/or ability to meet its objective. For more information about the risks of investing in the Fund, see the sections in the Fund’s Prospectus titled “Additional Principal Risk Information About the Fund” and “Additional Non-Principal Risk Information.”
|
||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | You can lose money on your investment in the Fund. | ||||||
Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus | <ul type="square"><li><b>Non-Diversification Risk.</b> The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. To the extent the Fund invests a significant percentage of its assets in a limited number of issuers, the Fund is subject to the risks of investing in those few issuers, and may be more susceptible to a single adverse economic or regulatory occurrence. As a result, changes in the market value of a single security could cause greater fluctuations in the value of Fund shares than would occur in a diversified fund.</li></ul> | ||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | <b>Fund Performance </b> | ||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The Fund is new and therefore does not have a performance history. Updated performance information for the Fund will be available online on the Fund’s website at www.wisdomtree.com. | ||||||
Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | The Fund is new and therefore does not have a performance history. | ||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.wisdomtree.com | ||||||
WisdomTree Yield Enhanced Global Aggregate Bond Fund | WisdomTree Yield Enhanced Global Aggregate Bond Fund | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Shareholder Fees (fees paid directly from your investment) | rr_ShareholderFeeOther | none | ||||||
Management Fees | rr_ManagementFeesOverAssets | 0.20% | ||||||
Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||
Other Expenses | rr_OtherExpensesOverAssets | none | [1] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.08% | [1] | |||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.28% | [2] | |||||
Fee Waivers | rr_FeeWaiverOrReimbursementOverAssets | (0.08%) | [3] | |||||
Total Annual Fund Operating Expenses After Fee Waivers | rr_NetExpensesOverAssets | 0.20% | [3] | |||||
1 Year | rr_ExpenseExampleYear01 | $ 20 | ||||||
3 Years | rr_ExpenseExampleYear03 | $ 64 | ||||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | WisdomTree Trust |
Prospectus Date | rr_ProspectusDate | Nov. 08, 2018 |
Document Creation Date | dei_DocumentCreationDate | Nov. 08, 2018 |
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