WCOM
WisdomTree Enhanced Commodity UCITS ETF - GBP Hedged Acc
Le fonds WisdomTree Enhanced Commodity UCITS ETF - GBP Hedged Acc (le « Fonds ») a pour objectif de répliquer le cours, avant frais et dépenses, de l'indice Optimised Roll Commodity Monthly GBP-Hedged Total Return (l'« Indice »). Le fonds vise également à surperformer l'indice Bloomberg Commodity Index TR sur le long terme. Le fonds investit dans des bons du Trésor américain et utilise des swaps sur le rendement total pour offrir la performance de l'indice. Les swaps sont collatéralisés quotidiennement et réinitialisés mensuellement.
Pourquoi investir?
- Obtenir une vaste exposition aux matières premières comme classe d'actifs.
- Possibilité de réduire la volatilité globale du portefeuille pendant les périodes où les matières premières sont négativement corrélées aux actions et aux obligations.
- Processus innovant de roulement dynamique conçu pour minimiser les coûts à long terme de la détention d'expositions aux matières premières.
Des Risques
- Risque de crédit : Les obligations bénéficiant d'une notation élevée ("investment grade") peuvent néanmoins faire l'objet de difficultés de crédit entraînant la perte d'une partie ou de la totalité des sommes investies.
- Le risque de taux d'intérêt : En général lorsque les taux d'intérêt augmentent, la valeur d'une obligation baisse. Ce risque augmente généralement en fonction de l'échéance de l'obligation.
- Risque de liquidité : Il peut être difficile pour le Fonds d'acheter ou de vendre certains placements dans certaines conditions de marché.
- Cette liste ne couvre pas tous les risques - d'autres risques sont indiqués dans le DICI et le Prospectus.
Overview
| Product Overview | |
|---|---|
| Utilisation des revenus | Accumulation |
| Fréquence des dividendes | s/o |
| Devise de base | EUR |
| Date de création | 14 Aug 2018 |
| Ticker boursier | WCOE |
| Nom de l'indice | WisdomTree Enhanced Commodity Total Return Index |
| TFE (%) | 0.35% |
| Taux swap annuel | 0.35% |
| Structure | |
|---|---|
| Méthode de duplication | Bons du Trésor américains avec superposition de swaps |
| Forme juridique | Irish Collective Asset-management Vehicle (ICAV) |
| Fonds parapluie | WisdomTree Issuer ICAV |
| Domicile | Irlande |
| Structure | Fonds négociable en bourse à capital variable |
| Fin de l'exercice financier | 31 décembre |
| Conforme à la directive OPCVM | Conforme |
| Further Legal and Tax Information | |
|---|---|
| ISA | Eligible |
| SIPP | Eligible |
| UCITS Eligible | Eligible |
| PEA Eligible | No |
| Key Service Providers | |
|---|---|
| Dépositaire | The Bank of New York Mellon SA/NV, Dublin Branch |
| Administrateur | BNY Mellon Fund Services (Ireland) Designated Activity Company |
| Gestionnaire de fonds | Assenagon Asset Management S.A |
| Auditeur | Deloitte Ireland LLP |
Listings & Codes
| Listings & Codes | ||||||||||||||||||||||||
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Benchmark Composition
Sector Breakdown
Fund Holdings
| Security | Weight |
|---|---|
| 1. "US Treasury Bill (BVN7R03)" | 9.87% |
| 2. "US Treasury Bill (BVBFK11)" | 9.76% |
| 3. "US Treasury Bill (BVPJDQ5)" | 9.76% |
| 4. "US Treasury Bill (BV3PBJ4)" | 9.75% |
| 5. "US Treasury Bill (BRT7WS2)" | 9.68% |
| 6. "US Treasury Bill (BSSBJ03)" | 7.80% |
| 7. "US Treasury Bill (BVMNBH7)" | 7.80% |
| 8. "CASH W-O" | 7.65% |
| 9. "US Treasury Bill (BT9R101)" | 7.50% |
| 10. "US Treasury Bill (BXM7C47)" | 7.46% |
| 11. "US Treasury Bill (BV2FL84)" | 7.35% |
| 12. "US Treasury Bill (BTMT074)" | 6.25% |
| 13. "US Treasury Bill (BTWQYX9)" | 5.55% |
| 14. "US Treasury Bill (BT3F9K7)" | 2.01% |
| 15. "EURO INCOME A/C" | 0.09% |
| 16. "STERLING POUND" | 0.03% |
| 17. "SWISS FRANC" | 0.02% |
| 18. "" | -8.59% |
Index Details
Indice Optimised Roll Commodity Total Return
L'Indice est libellé en dollars américains et a pour principal objectif de fournir une exposition diversifiée aux matières premières et conforme aux normes UCITS, couvrant quatre grands secteurs de matières premières : Énergie, Agriculture, Métaux industriels et Métaux précieux. L'Indice utilise des contrats à terme pour répliquer la performance de chaque composant du Bloomberg Commodity Index TR. L'Indice utilise une approche basée sur des règles pour chacun de ses composants et passe d'un contrat à terme à un autre pour chaque matière première de l'Indice. La sélection du nouveau contrat à terme ne se fait pas sur la base d'un calendrier prédéfini (par exemple, mensuel), mais sur la base du contrat à terme qui génère le rendement implicite maximum. L'Indice vise à maximiser les avantages potentiels du roulement sur les marchés en backwardation et à minimiser la perte résultant du ralentissement de la courbe sur les marchés en contango.
| Index Details | |
|---|---|
| Index Name | WisdomTree Enhanced Commodity Total Return Index |
| Index Provider | WisdomTree |
| Bloomberg Ticker | WTENCMT |
| Leverage Factor | N/A |
| Documents and Links |
|---|
| Security | 22 juin 2026 |
|---|---|
| 1. Gold | 13.57% |
| 2. Brent Crude | 10.94% |
| 3. WTI Crude Oil | 8.99% |
| 4. Natural Gas | 6.78% |
| 5. Live Cattle | 6.66% |
| 6. Copper | 5.96% |
| 7. Soybean Oil | 5.10% |
| 8. Aluminium | 4.87% |
| 9. Gasoil | 4.67% |
| 10. Unleaded Gasoline | 4.24% |
| 11. Zinc | 4.01% |
| 12. Heating Oil | 3.50% |
| 13. Silver | 3.36% |
| 14. Chicago Wheat | 3.07% |
| 15. Nickel | 1.87% |
| 16. Kansas Wheat | 1.81% |
| 17. Coffee | 1.78% |
| 18. Soybeans | 1.73% |
| 19. Lean Hogs | 1.62% |
| 20. Corn | 1.58% |
| 21. Cotton | 1.12% |
| 22. Soybean Meal | 0.88% |
| 23. Sugar | 0.83% |
| 24. Cocoa | 0.68% |
| 25. Lead | 0.38% |
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 |
| Sustainability Characteristics | |
|---|---|
| MSCI ESG Fund Ratings (AAA-CCC) | A |
Collateral Details
Collateral Structure
Replicating Exposure to Commodities Through a Swap
The Fund aims to track the WisdomTree Enhanced Commodity Total Return 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
Other Documents
- WisdomTree Issuer Privacy Notice
- Index Methodology WisdomTree Enhanced Commodity 2025
- 2019 German tax reporting WisdomTree Issuer plc
- Benchmark Administration Governance
- Summary of Investor Rights - WisdomTree Issuer ICAV
DISCLAIMERS
Les produits pris en considération dans le présent document sont émis par WisdomTree Issuer ICAV (l’« Émetteur WT »). L’Émetteur WT est une société d’investissement à compartiments multiples, à capital variable et à responsabilité séparée entre ses fonds, structurée sous forme de Véhicule de gestion collective d’actifs de droit irlandais en vertu de la législation irlandaise et agréée par la Banque Centrale d’Irlande (« BCI »). L’Émetteur WT est structuré sous forme d’Organisme de placement collectif en valeurs mobilières (« OPCVM ») en vertu de la législation irlandaise et procédera à l’émission d’une catégorie d’actions distincte (« Actions ») représentative de chaque fonds.
Le Fonds est décrit dans un Document d’informations clés (DIC) ou Document d’informations clés pour l’investisseur (DICI) à l’intention des investisseurs britanniques, et dans le prospectus de l’Émetteur WT (« Prospectus WT »). Un exemplaire du Prospectus WT et du DIC / DICI est mis à disposition, pour l’Espace Économique Européen (l’«EEE »)/le Royaume-Uni uniquement, en anglais, sur le site www.wisdomtree.eu. Lorsque les réglementations nationales l’exigent, le DIC sera également disponible dans la langue locale de l’État membre de l’EEE concerné. Les investisseurs sont invités à lire le Prospectus WT avant d’investir et à consulter la section du Prospectus WT intitulée « Risk Factors » pour plus de détails sur les risques associés à un investissement dans les Actions.
La synthèse des droits de l’investisseur associés à un placement dans le fonds est disponible en anglais sur le site Internet de WisdomTree Europe. WisdomTree Management Limited peut décider de résilier les accords portant sur la commercialisation de ses organismes de placement collectif. Dans ces circonstances, les actionnaires sujets de l’État membre de l’EEE concerné seront informés de cette décision et se verront offrir la possibilité de racheter leur participation dans le fonds, sans frais ni retenues durant une période minimum de 30 jours ouvrables à compter de la date de notification en question.
French Investors should note that, relative to the expectations of the Autorité des Marchés Financiers, this Fund presents disproportionate communication on the consideration of non-financial criteria in its investment policy.
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.
The Company is required to provide details of WisdomTree’s website to enable Shareholders to obtain further details of the Index (including its constituents). Neither the Company, the Manager nor the Investment Manager has any responsibility for the contents of such website and are not involved in any way in sponsoring, endorsing or otherwise involved in the establishment, maintenance or contents of the website.
The methodology of and rules governing the index (the "Index Methodology" and the "Index") are proprietary and shall not be reproduced or disseminated without the prior written consent of the “Index Sponsor” (as defined in the “Index Rules” available on http://www.wisdomtree.eu/home).None of the Index Sponsor, the index calculation agent (where such party is not also the Index Sponsor, the "Index Calculation Agent") nor, where applicable, the index Investment Advisor (the "Index Investment Advisor") guarantee that there will be no errors or omissions in computing or disseminating the Index. The Index Methodology is based on certain assumptions, certain pricing models and calculation methods adopted by the Index Sponsor, the Index Calculation Agent and, where applicable, the Index Investment Advisor, and may have certain inherent limitations. Information prepared on the basis of different models, calculation methods or assumptions may yield different results. You have no authority to use or reproduce the Index Methodology in any way, and neither the Index Sponsor nor any of its affiliates shall be liable for any loss whatsoever, whether arising directly or indirectly from the use of the Index or Index Methodology or otherwise in connection therewith. The Index Sponsor reserves the right to amend or adjust the Index Methodology from time to time in accordance with the rules governing the Index and accepts no liability for any such amendment or adjustment. Neither the Index Sponsor nor the Index Calculation Agent are under any obligation to continue the calculation, publication or dissemination of the Index and accept no liability for any suspension or interruption in the calculation thereof which is made in accordance with the rules governing the Index. None of the Index Sponsor, the Index Calculation Agent nor, where applicable, the Index Investment Advisor accept any liability in connection with the publication or use of the level of the Index at any given time. The Index Methodology embeds certain costs in the strategy which cover amongst other things, friction, replication and repo costs in running the Index. The levels of such costs (if any) may vary over time in accordance with market conditions as determined by the Index Sponsor acting in a commercially reasonable manner. The Index Sponsor and its affiliates may enter into derivative transactions or issue financial instruments (together, the "Products") linked to the Index. The Products are not in any way sponsored, endorsed, sold or promoted by the sponsor of any index component (or part thereof) which may comprise the Index (each a "Reference Index") that is not affiliated with BNP Paribas (each such sponsor, a "Reference Index Sponsor"). The Reference Index Sponsors make no representation whatsoever, whether express or implied, either as to the results to be obtained from the use of the relevant Reference Index and/or the levels at which the relevant Reference Index stands at any particular time on any particular date or otherwise. No Reference Index Sponsor shall be liable (whether in negligence or otherwise) to any person for any error in the relevant Reference Index and the relevant Reference Index Sponsor is under no obligation to advise any person of any error therein. None of the Reference Index Sponsors makes any representation whatsoever, whether express or implied, as to the advisability of purchasing or assuming any risk in connection with the Products. The Index Sponsor and its affiliates have no rights against or recourse to any Reference Index Sponsor should any Reference Index not be published or for any errors in the calculation thereof or on any other basis whatsoever in relation to any Reference Index, its production, or the level or constituents thereof. The Index Sponsor and its affiliates shall have no liability to any party for any act or failure to act by any Reference Index Sponsor in connection with the calculation, adjustment or maintenance of the relevant Reference Index and have no affiliation with or control over any Reference Index or the relevant Reference Index Sponsor or the computation, composition or dissemination of any Reference Index. Although the Index Calculation Agent will obtain information concerning each Reference Index from publicly available sources that it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Index Sponsor or any of its affiliates nor the Index Calculation Agent as to the accuracy, completeness and timeliness of information concerning any Reference Index. The Index Sponsor and/or its affiliates may act in a number of different capacities in relation to the Index and/or products linked to the Index, which may include, but not be limited to, acting as market-maker, hedging counterparty, issuer of components of the Index, Index Sponsor and/or Index Calculation Agent. Such activities could result in potential conflicts of interest that could influence the price or value of a Product.
The methodology of and rules governing the index (the "Index Methodology" and the "Index") are proprietary and shall not be reproduced or disseminated without the prior written consent of the “Index Sponsor” (as defined in the “Index Rules” available on http://www. Wisdomtree. Eu/home). None of the Index Sponsor, the index calculation agent (where such party is not also the Index Sponsor, the "Index Calculation Agent") nor, where applicable, the index Investment Advisor (the "Index Investment Advisor") guarantee that there will be no errors or omissions in computing or disseminating the Index. The Index Methodology is based on certain assumptions, certain pricing models and calculation methods adopted by the Index Sponsor, the Index Calculation Agent and, where applicable, the Index Investment Advisor, and may have certain inherent limitations. Information prepared on the basis of different models, calculation methods or assumptions may yield different results. You have no authority to use or reproduce the Index Methodology in any way, and neither the Index Sponsor nor any of its affiliates shall be liable for any loss whatsoever, whether arising directly or indirectly from the use of the Index or Index Methodology or otherwise in connection therewith. The Index Sponsor reserves the right to amend or adjust the Index Methodology from time to time in accordance with the rules governing the Index and accepts no liability for any such amendment or adjustment. Neither the Index Sponsor nor the Index Calculation Agent are under any obligation to continue the calculation, publication or dissemination of the Index and accept no liability for any suspension or interruption in the calculation thereof which is made in accordance with the rules governing the Index. None of the Index Sponsor, the Index Calculation Agent nor, where applicable, the Index Investment Advisor accept any liability in connection with the publication or use of the level of the Index at any given time. The Index Methodology embeds certain costs in the strategy which cover amongst other things, friction, replication and repo costs in running the Index. The levels of such costs (if any) may vary over time in accordance with market conditions as determined by the Index Sponsor acting in a commercially reasonable manner. The Index Sponsor and its affiliates may enter into derivative transactions or issue financial instruments (together, the "Products") linked to the Index. The Products are not in any way sponsored, endorsed, sold or promoted by the sponsor of any index component (or part thereof) which may comprise the Index (each a "Reference Index") that is not affiliated with BNP Paribas (each such sponsor, a "Reference Index Sponsor"). The Reference Index Sponsors make no representation whatsoever, whether express or implied, either as to the results to be obtained from the use of the relevant Reference Index and/or the levels at which the relevant Reference Index stands at any particular time on any particular date or otherwise. No Reference Index Sponsor shall be liable (whether in negligence or otherwise) to any person for any error in the relevant Reference Index and the relevant Reference Index Sponsor is under no obligation to advise any person of any error therein. None of the Reference Index Sponsors makes any representation whatsoever, whether express or implied, as to the advisability of purchasing or assuming any risk in connection with the Products. The Index Sponsor and its affiliates have no rights against or recourse to any Reference Index Sponsor should any Reference Index not be published or for any errors in the calculation thereof or on any other basis whatsoever in relation to any Reference Index, its production, or the level or constituents thereof. The Index Sponsor and its affiliates shall have no liability to any party for any act or failure to act by any Reference Index Sponsor in connection with the calculation, adjustment or maintenance of the relevant Reference Index and have no affiliation with or control over any Reference Index or the relevant Reference Index Sponsor or the computation, composition or dissemination of any Reference Index. Although the Index Calculation Agent will obtain information concerning each Reference Index from publicly available sources that it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Index Sponsor or any of its affiliates nor the Index Calculation Agent as to the accuracy, completeness and timeliness of information concerning any Reference Index. The Index Sponsor and/or its affiliates may act in a number of different capacities in relation to the Index and/or products linked to the Index, which may include, but not be limited to, acting as market-maker, hedging counterparty, issuer of components of the Index, Index Sponsor and/or Index Calculation Agent. Such activities could result in potential conflicts of interest that could influence the price or value of a Product.