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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-21864

 

WisdomTree Trust

(Exact name of Registrant as specified in charter)

 

380 Madison Avenue, 21^st Floor

New York, NY 10017

(Address of principal executive offices) (Zip code)

 

The Corporation Trust Company

1209 Orange Street

Wilmington, DE 19801

(Name and address of agent for service)

Registrant’s telephone number, including area code: (866)-909-9473

Date of fiscal year end: March 31

Date of reporting period: March 31, 2010

Form N-CSR is to be used by management investment companies to file reports with the Commission no later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A Registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A Registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 

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Item 1.

Report(s) to Stockholders.

The Trust’s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

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Domestic Dividend Funds

 

Annual Report

March 31, 2010

WisdomTree Total Dividend Fund (DTD)

WisdomTree Equity Income Fund (DHS)

WisdomTree LargeCap Dividend Fund (DLN)

WisdomTree Dividend ex-Financials Fund (DTN)

WisdomTree MidCap Dividend Fund (DON)

WisdomTree SmallCap Dividend Fund (DES)

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Management’s Discussion of Funds’ Performance (unaudited)		2
Performance Summaries (unaudited)		4
Shareholder Expense Examples (unaudited)		12
Schedules of Investments
WisdomTree Total Dividend Fund		14
WisdomTree Equity Income Fund		23
WisdomTree LargeCap Dividend Fund		28
WisdomTree Dividend ex-Financials Fund		33
WisdomTree MidCap Dividend Fund		35
WisdomTree SmallCap Dividend Fund		40
Statements of Assets and Liabilities		47
Statements of Operations		48
Statements of Changes in Net Assets		49
Financial Highlights		51
Notes to the Financial Statements		54
Report of Independent Registered Public Accounting Firm		60
Approval of Investment Advisory and Sub-Advisory Agreement (unaudited)		61
Frequency Distribution of Discounts & Premiums (unaudited)		62
Trustee and Officer Information (unaudited)		64
Supplemental Information (unaudited)		66
General Information (unaudited)		67

“WisdomTree” is a registered mark of WisdomTree Investments, Inc. and is licensed for use by the Trust.

 

1

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Table of Contents

Management’s Discussion of Funds’ Performance (unaudited)

Domestic Dividend Funds

 

The U.S equity market, measured by the Russell 3000 Index, S&P 500 Index, and Dow Jones Industrial Average, all popular benchmarks for the broad U.S. equity market, rallied between 47% and 53% for the 12 month period ended March 31, 2010 (the “period”). These 12-month gains in stock prices came close to erasing the significant declines in those same benchmarks that ranged from 36% to 38% for the 12 months ended March 31, 2009. The broad U.S. market averages are now showing cumulative losses of 5-7% over the prior 24-months.

In the depths of the bear market that occurred in March 2009, investors were panicking about the safety of major financial institutions and those fears spread throughout the entire economy. At the close of the Funds’ fiscal year end in March 2010, concerns about a meltdown of the financial system have largely been taken off the table, though significant worries about the health of the economy remain. The Federal Reserve, led by Chairman Benjamin Bernanke, instituted a series of emergency lending programs that restored confidence in the financial system, jump started bank lending, and lowered the interest rates for consumers and businesses. These extraordinary measures included, but were not limited to, “quantitative easing” policies to keep long-term bond and mortgage rates low and the lowering of the Federal Funds target interest rate to a historically low level — near zero. In addition to the easing monetary policies and the special Federal Reserve programs designed to restore confidence in the financial system, substantial fiscal policy support measures for the economy were enacted by newly elected President Barack Obama, who assumed office in January 2009. While the U.S. unemployment rate, a lagging economic indicator, remained stubbornly high at 9.7% in March 2010, consumer and investor confidence generally rose throughout the period.

 

TICKER		WISDOMTREE FUND		1 YEAR RETURN			CAPITALIZATION-WEIGHTED BENCHMARK INDEX		1 YEAR RETURN			1 YEAR RETURN FUND VS INDEX
DES		SmallCap Dividend Fund		83.27	%		Russell 2000 Index		62.76	%		20.51	%
DON		MidCap Dividend Fund		77.34	%		S&P MidCap 400 Index		64.07	%		13.27	%
DTN		Dividend ex-Financials Fund		66.66	%		Dow Jones U.S. Select Dividend Index		53.07	%		13.59	%
DHS		Equity Income Fund		58.47	%		Russell 1000 Value Index		53.56	%		4.91	%
DTD		Total Dividend Fund		50.83	%		Russell 3000 Index		52.44	%		-1.61	%
DLN		LargeCap Dividend Fund		46.53	%		S&P 500 Index		49.77	%		-3.24	%

As with the downturn, in which small cap stocks led the broader markets on the way down during the year ended March 31, 2009, small cap stocks led the markets higher during the year ended March 31, 2010. The perceived tendency of small cap stocks to outperform larger capitalization companies during the initial recovery phases of a bull market and their relative underperformance in recessions and bear markets is tied to many investors’ views that small cap stocks are more sensitive to the changing economic conditions than large capitalization stocks. This general tendency was played out during the period as many small cap stocks saw significant relative gains.

WisdomTree’s dividend weighted funds are designed to track indexes based on the dividend stream generated by the companies included in the underlying WisdomTree index. There are two primary factors that drive performance differential versus market cap-weighted benchmarks: aggregate exposure to a sector and stock selection within a sector, both of which are determined as part of WisdomTree’s rules-based index methodology. These exposures are not subjectively determined. Rather they are objectively determined at the index re-balancing dates based on the dividend stream.

Several market sectors enjoyed significant rebounds after the March 2009 lows. The best performing sector over the period was the financial sector. While this sector suffered significant downturns as the financial crisis unfolded, it recovered well as fears over the collapse of the system largely faded away. The WisdomTree dividend funds with the greatest exposure to the financial sector in the period — the WisdomTree Equity Income

 

2		WisdomTree Domestic Dividend Funds

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Management’s Discussion of Funds’ Performance

(unaudited) (concluded)

 

Fund (DHS), WisdomTree MidCap Dividend Fund (DON), and WisdomTree SmallCap Dividend Fund (DES) — therefore had better performance relative to funds with less financial sector exposure.

As investors started anticipating better economic times ahead, sectors most closely tied to cyclical growth also performed well. For example, the information technology and consumer discretionary sectors within the S&P 500 returned 70% and 58% during the period, respectively. Technology companies, which do not tend to pay a lot of dividends, were under-weighted in WisdomTree’s dividend weighted strategies, which created a drag on Fund returns.

Also, non-cyclical sectors, such as telecommunications and utilities, which are generally regarded as stable during economic downturns, didn’t fare as well during the recovery. Utilities and telecommunications were the two worst performing sectors during the period, returning 21% and 12%, respectively. These two sectors, which have historically had average dividend streams, received relatively more weight in WisdomTree’s large capitalization funds — the WisdomTree Total Dividend Fund (DTD), WisdomTree LargeCap Dividend Fund (DLN), and WisdomTree Equity Income Fund (DHS). The overweight to these sectors had a negative impact on the returns of these Funds.

The views expressed in this report reflect those of WisdomTree Asset Management only through the end of the period of the report as stated on the cover. The portfolio managers’ views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Past performance is no guarantee of future results.

Fund returns are shown at NAV. Please see Performance Summaries on the subsequent pages for more complete performance information. Please see page 11 for the list of index descriptions.

Fund performance assumes reinvestment of dividends and capital gain distributions. An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results. For the most recent month end performance information visit www.wisdomtree.com.

 

WisdomTree Domestic Dividend Funds		3

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Performance Summary (unaudited)

WisdomTree Total Dividend Fund (DTD)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
AT&T, Inc.		4.0%
Exxon Mobil Corp.		3.4%
Johnson & Johnson		2.4%
Chevron Corp.		2.3%
Procter & Gamble Co. (The)		2.3%
Verizon Communications, Inc.		2.2%
General Electric Co.		2.1%
Pfizer, Inc.		2.1%
Philip Morris International, Inc.		2.0%
Merck & Co., Inc.		2.0%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Total Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Dividend Index.

The WisdomTree Total Dividend Fund (Ticker Symbol: DTD) returned 50.83% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Financials, which had above average returns and had a notable contribution to positive Fund performance. Information Technology, a sector that outperformed, was a significant underweight during the period, which created a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.28%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Dividend Index			Russell 3000 Index
One Year		50.83	%		49.37	%		52.10	%		52.44	%
Three Year		-6.53	%		-6.72	%		-5.90	%		-3.99	%
Since Inception1		-1.23	%		-1.44	%		-0.82	%		0.62	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

4		WisdomTree Domestic Dividend Funds

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Performance Summary (unaudited)

WisdomTree Equity Income Fund (DHS)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
AT&T, Inc.		9.2%
Chevron Corp.		5.4%
Verizon Communications, Inc.		5.1%
Pfizer, Inc.		4.9%
Philip Morris International, Inc.		4.8%
Merck & Co., Inc.		4.7%
ConocoPhillips		3.1%
Altria Group, Inc.		3.0%
McDonald’s Corp.		2.6%
Bristol-Myers Squibb Co.		2.6%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Equity Income Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Equity Income Index.

The WisdomTree Equity Income Fund (Ticker Symbol: DHS) returned 58.47% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweight position to Financials, which had above average returns and had a notable contribution to positive Fund performance. Telecommunication Services stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Equity Income Index			Russell 1000 Value Index
One Year		58.47	%		56.73	%		59.55	%		53.56	%
Three Year		-11.52	%		-11.81	%		-11.23	%		-7.33	%
Since Inception1		-5.13	%		-5.39	%		-4.92	%		-1.48	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree Domestic Dividend Funds		5

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Performance Summary (unaudited)

WisdomTree LargeCap Dividend Fund (DLN)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
AT&T, Inc.		4.6%
Exxon Mobil Corp.		4.0%
Johnson & Johnson		2.8%
Chevron Corp.		2.7%
Procter & Gamble Co. (The)		2.7%
Verizon Communications, Inc.		2.6%
General Electric Co.		2.5%
Pfizer, Inc.		2.5%
Philip Morris International, Inc.		2.4%
Merck & Co., Inc.		2.4%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree LargeCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree LargeCap Dividend Index.

The WisdomTree LargeCap Dividend Fund (Ticker Symbol: DLN) returned 46.53% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Financials, which had above average returns and had a notable contribution to positive Fund performance. Information Technology, a sector that outperformed, was a significant underweight during the period, which created a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.28%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree LargeCap Dividend Index			S&P 500 Index
One Year		46.53	%		45.49	%		47.57	%		49.77	%
Three Year		-6.97	%		-7.18	%		-6.43	%		-4.17	%
Since Inception1		-1.62	%		-1.82	%		-1.21	%		0.37	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

6		WisdomTree Domestic Dividend Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree Dividend ex-Financials Fund (DTN)

(Formerly, WisdomTree Dividend Top 100 Fund)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Qwest Communications International, Inc.		3.3%
CenturyTel, Inc.		2.4%
Altria Group, Inc.		2.3%
Reynolds American, Inc.		2.2%
Progress Energy, Inc.		1.8%
Spectra Energy Corp.		1.7%
AT&T, Inc.		1.7%
Verizon Communications, Inc.		1.7%
Centerpoint Energy, Inc.		1.7%
E.I. Du Pont de Nemours & Co.		1.7%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Dividend ex-Financials Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Dividend ex-Financials Index. Effective May 7, 2009, the WisdomTree Dividend Top 100 Fund changed its investment objective and was renamed the WisdomTree Dividend ex-Financials Fund. The WisdomTree Dividend ex-Financials Index measures the performance of high dividend-yielding stocks outside the financial sector.

The WisdomTree Dividend ex-Financials Fund (Ticker Symbol: DTN) returned 66.66% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Health Care, which had below average returns. This underweighting had a notable contribution to positive Fund performance. Utilities stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			Spliced WisdomTree Index1			Dow Jones U.S. Select Dividend Index
One Year		66.66	%		65.34	%		67.88	%		53.07	%
Three Year		-6.67	%		-6.91	%		-6.18	%		-9.01	%
Since Inception2		-0.44	%		-0.65	%		-0.09	%		-3.11	%

1	WisdomTree Dividend Top 100 Index through May 7, 2009; WisdomTree Dividend ex-Financials Index thereafter.

 

2	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree Domestic Dividend Funds		7

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Table of Contents

Performance Summary (unaudited)

WisdomTree MidCap Dividend Fund (DON)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Windstream Corp.		1.8%
New York Community Bancorp, Inc.		1.7%
Pitney Bowes, Inc.		1.3%
Frontier Communications Corp.		1.3%
Kimco Realty Corp.		1.2%
Cincinnati Financial Corp.		1.2%
Macerich Co. (The)		1.1%
NiSource, Inc.		1.1%
Apollo Investment Corp.		1.0%
Pepco Holdings, Inc.		1.0%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree MidCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree MidCap Dividend Index.

The WisdomTree MidCap Dividend Fund (Ticker Symbol: DON) returned 77.34% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Financials & Consumer Discretionary, which had a notable contribution to positive Fund performance. Utilities stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree MidCap Dividend Index			S&P MidCap 400 Index
One Year		77.34	%		75.84	%		78.66	%		64.07	%
Three Year		-3.97	%		-4.16	%		-4.46	%		-0.83	%
Since Inception1		1.10	%		1.06	%		0.66	%		3.25	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

8		WisdomTree Domestic Dividend Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree SmallCap Dividend Fund (DES)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Ares Capital Corp.		2.1%
Vector Group Ltd.		1.3%
Zenith National Insurance Corp.		1.0%
Prospect Capital Corp.		1.0%
Potlatch Corp.		1.0%
BlackRock Kelso Capital Corp.		1.0%
Valhi, Inc.		0.8%
United Bankshares, Inc.		0.8%
Medical Properties Trust, Inc.		0.8%
Deluxe Corp.		0.7%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree SmallCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree SmallCap Dividend Index.

The WisdomTree SmallCap Dividend Fund (Ticker Symbol: DES) returned 83.27% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Financials, which had above average returns and had a notable contribution to positive Fund performance. Information Technology, a sector that outperformed, was a significant underweight during the period, which created a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree SmallCap Dividend Index			Russell 2000 Index
One Year		83.27	%		81.12	%		84.80	%		62.76	%
Three Year		-5.52	%		-5.65	%		-5.32	%		-3.99	%
Since Inception1		-0.38	%		-0.56	%		-0.37	%		0.85	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree Domestic Dividend Funds		9

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Table of Contents

 

		Cumulative Returns as of 3/31/10 (unaudited)
		Total Return NAV (%)									Market Price (%)
		1-Year			3-Year			Since Inception			1-Year			3-Year			Since Inception
WisdomTree Total Dividend Fund		50.83	%		-18.33	%		-4.58	%		49.37	%		-18.83	%		-5.33	%
Russell 3000 Index		52.44	%		-11.50	%		2.36	%		52.44	%		-11.50	%		2.36	%
WisdomTree Dividend Index		52.10	%		-16.68	%		-3.07	%		52.10	%		-16.68	%		-3.07	%
WisdomTree Equity Income Fund		58.47	%		-30.73	%		-18.10	%		56.73	%		-31.41	%		-18.94	%
Russell 1000 Value Index		53.56	%		-20.42	%		-5.49	%		53.56	%		-20.42	%		-5.49	%
WisdomTree Equity Income Index		59.55	%		-30.05	%		-17.41	%		59.55	%		-30.05	%		-17.41	%
WisdomTree LargeCap Dividend Fund		46.53	%		-19.49	%		-5.99	%		45.49	%		-20.03	%		-6.74	%
S&P 500 Index		49.77	%		-11.98	%		1.41	%		49.77	%		-11.98	%		1.41	%
WisdomTree LargeCap Dividend Index		47.57	%		-18.08	%		-4.50	%		47.57	%		-18.08	%		-4.50	%
WisdomTree Dividend ex-Financials Fund		66.66	%		-18.71	%		-1.65	%		65.34	%		-19.33	%		-2.43	%
Dow Jones US Select Dividend Index		53.07	%		-24.66	%		-11.28	%		53.07	%		-24.66	%		-11.28	%
Spliced WisdomTree Index		67.88	%		-17.41	%		-0.34	%		67.88	%		-17.41	%		-0.34	%
WisdomTree MidCap Dividend Fund		77.34	%		-11.43	%		4.25	%		75.84	%		-11.96	%		4.06	%
S&P MidCap 400 Index		64.07	%		-2.46	%		12.88	%		64.07	%		-2.46	%		12.88	%
WisdomTree MidCap Dividend Index		78.66	%		-12.78	%		2.53	%		78.66	%		-12.78	%		2.53	%
WisdomTree SmallCap Dividend Fund		83.27	%		-15.67	%		-1.44	%		81.12	%		-16.01	%		-2.11	%
Russell 2000 Index		62.76	%		-11.50	%		3.26	%		62.76	%		-11.50	%		3.26	%
WisdomTree SmallCap Dividend Index		84.80	%		-15.13	%		-1.40	%		84.80	%		-15.13	%		-1.40	%

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

Please see page 11 for the list of index descriptions.

 

10		WisdomTree Domestic Dividend Funds

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Table of Contents

Description of Terms and Indices (unaudited)

 

Below are descriptions of each index referenced in this Annual Report:

The WisdomTree Dividend Index defines the dividend-paying portion of the U.S. stock market.

The WisdomTree LargeCap Dividend Index measures the performance of the large-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree Dividend Index.

The WisdomTree MidCap Dividend Index measures the performance of the mid-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree Dividend Index.

The WisdomTree SmallCap Dividend Index measures the performance of the small-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree Dividend Index.

The WisdomTree Equity Income Index measures the performance of companies with high dividend yields, selected from the WisdomTree Dividend Index.

The WisdomTree Dividend ex-Financials Index measures the performance of high dividend-yielding stocks outside the financial sector.

The WisdomTree Dividend Top 100 Index measures the performance of the 100 highest dividend-yielding companies in the WisdomTree LargeCap Dividend Index.

The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies, based on total market capitalization.

The S&P 500 Index is a capitalization-weighted index of 500 stocks selected by Standard & Poor’s Index Committee, designed to represent the performance of the leading industries in the United States economy.

The S&P Midcap 400 Index is a capitalization-weighted index that measures the performance of the mid-capitalization range of the U.S. stock market, with stocks selected by the Standard & Poor’s Index Committee.

The Russell 2000 Index measures performance of the smallest 2,000 securities in the Russell 3000 Index.

The Russell 1000 Value Index is a measure of the large-capitalization value segment of the U.S. equity universe, selecting from the Russell 1000 Index.

The Dow Jones U.S. Select Dividend Index measures the performance of 100 U.S. dividend-paying companies.

Spliced WisdomTree Index — WisdomTree Dividend Top 100 through May 7, 2009; WisdomTree Dividend ex-Financials Index thereafter.

Index performance information assumes the reinvestment of gross dividends and excludes management fees, transaction costs and expenses. You cannot directly invest in an index.

 

WisdomTree Domestic Dividend Funds		11

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Table of Contents

Shareholder Expense Examples (unaudited)

 

As a shareholder of a WisdomTree Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The following example is intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2009 to March 31, 2010.

Actual expenses

The first line under each Fund in the table on the next page provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During Period 10/01/09 to 3/31/10” to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes

The second line under each Fund in the table on the next page provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line under each Fund in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

12		WisdomTree Domestic Dividend Funds

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Table of Contents

Shareholder Expense Examples (unaudited) (concluded)

 

		Beginning Account Value 10/01/09			Ending Account Value 3/31/10			Annualized Expense Ratio Based on the Period 10/01/09 to 3/31/10			Expenses Paid During the Period† 10/01/09 to 3/31/10
WisdomTree Total Dividend Fund
Actual		$	1,000.00		$	1,103.40		0.28	%		$	1.49
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.51		0.28	%		$	1.43
WisdomTree Equity Income Fund
Actual		$	1,000.00		$	1,065.50		0.38	%		$	1.98
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.01		0.38	%		$	1.94
WisdomTree LargeCap Dividend Fund
Actual		$	1,000.00		$	1,093.70		0.28	%		$	1.48
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.51		0.28	%		$	1.43
WisdomTree Dividend ex-Financials Fund
Actual		$	1,000.00		$	1,152.50		0.38	%		$	2.06
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.01		0.38	%		$	1.94
WisdomTree MidCap Dividend Fund
Actual		$	1,000.00		$	1,159.57		0.38	%		$	2.07
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.01		0.38	%		$	1.94
WisdomTree SmallCap Dividend Fund
Actual		$	1,000.00		$	1,148.20		0.38	%		$	2.06
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.01		0.38	%		$	1.94

†	Expenses are calculated using each Fund’s annualized expense ratio, multiplied by the average account value for the period, multiplied by 182/365 (to reflect the one-half year period).

 

WisdomTree Domestic Dividend Funds		13

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Table of Contents

Schedule of Investments

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.5%
Advertising – 0.1%
Harte-Hanks, Inc.		1,669		$	21,463
Omnicom Group, Inc.		2,774			107,659
Total Advertising					129,122
Aerospace/Defense – 2.8%
Boeing Co. (The)		13,063			948,504
General Dynamics Corp.		4,867			375,732
Goodrich Corp.		1,282			90,407
L-3 Communications Holdings, Inc.		1,241			113,713
Lockheed Martin Corp.		7,146			594,690
Northrop Grumman Corp.		5,628			369,028
Raytheon Co.		5,172			295,425
Rockwell Collins, Inc.		1,723			107,842
United Technologies Corp.		11,847			872,058
Total Aerospace/Defense					3,767,399
Agriculture – 4.3%
Altria Group, Inc.		82,452			1,691,915
Archer-Daniels-Midland Co.		6,779			195,913
Lorillard, Inc.		4,683			352,349
Philip Morris International, Inc.		52,006			2,712,633
Reynolds American, Inc.		11,303			610,136
Universal Corp.(a)		670			35,302
Vector Group Ltd.(a)		4,733			73,030
Total Agriculture					5,671,278
Apparel – 0.4%
Cherokee, Inc.(a)		1,314			23,652
Coach, Inc.		1,686			66,631
Columbia Sportswear Co.(a)		631			33,146
Jones Apparel Group, Inc.		1			19
NIKE, Inc. Class B		3,855			283,342
VF Corp.		2,126			170,399
Wolverine World Wide, Inc.		524			15,280
Total Apparel					592,469
Auto Manufacturers – 0.1%
PACCAR, Inc.		2,267			98,252
Auto Parts & Equipment – 0.2%
Cooper Tire & Rubber Co.		1,162			22,101
Johnson Controls, Inc.		7,182			236,934
Total Auto Parts & Equipment					259,035
Banks – 3.7%
1st Source Corp.		805			14,128
Arrow Financial Corp.		949			25,519
Associated Banc-Corp.		1,888			26,054
Bancfirst Corp.		621			26,026
BancorpSouth, Inc.		1,595			33,431
Bank of America Corp.		13,407			239,315
Bank of Hawaii Corp.(a)		941			42,298
Bank of New York Mellon Corp. (The)		9,316			287,678
BB&T Corp.		9,358			303,106
BOK Financial Corp.(a)		674			35,345

Investments		Shares		Value
Capital One Financial Corp.		1,390		$	57,560
Cathay General Bancorp(a)		1,195			13,922
Chemical Financial Corp.(a)		689			16,274
City Holding Co.		805			27,603
Comerica, Inc.		830			31,573
Commerce Bancshares, Inc.		1,266			52,083
Community Bank System, Inc.(a)		1,433			32,644
Community Trust Bancorp, Inc.		1,159			31,397
Cullen/Frost Bankers, Inc.		1,144			63,835
CVB Financial Corp.(a)		3,398			33,742
Fifth Third Bancorp		2,541			34,532
First Busey Corp.(a)		1,856			8,204
First Commonwealth Financial Corp.		3,603			24,176
First Financial Bancorp		3			53
First Financial Bankshares, Inc.		363			18,713
First Financial Corp.(a)		752			21,778
FirstMerit Corp.		1,430			30,845
FNB Corp.		5,620			45,578
Fulton Financial Corp.(a)		2			20
Glacier Bancorp, Inc.		2,128			32,409
Goldman Sachs Group, Inc. (The)		2,523			430,500
Hancock Holding Co.		428			17,895
Huntington Bancshares, Inc.		5,891			31,635
Iberiabank Corp.		469			28,145
International Bancshares Corp.		1,139			26,186
JPMorgan Chase & Co.		11,069			495,338
KeyCorp		4,208			32,612
M&T Bank Corp.(a)		3,008			238,775
MB Financial, Inc.		542			12,211
Morgan Stanley		5,286			154,827
National Penn Bancshares, Inc.(a)		2,013			13,890
NBT Bancorp, Inc.		1,317			30,094
Northern Trust Corp.		3,173			175,340
Old National Bancorp		1,855			22,167
Park National Corp.(a)		638			39,754
Penns Woods Bancorp, Inc.		925			31,034
PNC Financial Services Group, Inc.		2,136			127,519
Prosperity Bancshares, Inc.		534			21,894
Regions Financial Corp.(a)		6,107			47,940
S&T Bancorp, Inc.		571			11,934
S.Y. Bancorp, Inc.(a)		1,051			23,910
Sterling Bancshares, Inc.(a)		4,092			22,833
Suffolk Bancorp(a)		802			24,629
Synovus Financial Corp.(a)		4,459			14,670
TrustCo Bank Corp.(a)		1,930			11,908
Trustmark Corp.		1,245			30,415
U.S. Bancorp		10,164			263,044
UMB Financial Corp.(a)		697			28,298
Umpqua Holdings Corp.		1,665			22,078
United Bankshares, Inc.(a)		1,939			50,841
Valley National Bancorp(a)		4,644			71,378
Wells Fargo & Co.		21,055			655,232
WesBanco, Inc.		730			11,870

 

See Notes to Financial Statements.

 

14		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
Westamerica Bancorp.(a)		440		$	25,366
Total Banks					4,856,003
Beverages – 3.3%
Brown-Forman Corp. Class A		1,069			67,133
Brown-Forman Corp. Class B(a)		971			57,726
Coca-Cola Co. (The)		37,713			2,074,215
Coca-Cola Enterprises, Inc.		4,346			120,210
Dr. Pepper Snapple Group, Inc.		3,391			119,262
Molson Coors Brewing Co. Class B		1,994			83,868
PepsiCo, Inc.		28,264			1,869,946
Total Beverages					4,392,360
Building Materials – 0.1%
Eagle Materials, Inc.		410			10,881
Lennox International, Inc.		567			25,129
Martin Marietta Materials, Inc.(a)		505			42,193
Masco Corp.		4,906			76,141
Simpson Manufacturing Co., Inc.(a)		431			11,965
Total Building Materials					166,309
Chemicals – 2.6%
Air Products & Chemicals, Inc.		2,689			198,852
Airgas, Inc.		852			54,204
Albemarle Corp.		670			28,562
Arch Chemicals, Inc.		429			14,753
Ashland, Inc.		567			29,921
Cabot Corp.		1,000			30,400
Celanese Corp. Series A		395			12,581
Cytec Industries, Inc.		1			47
Dow Chemical Co. (The)		14,739			435,832
E.I. Du Pont de Nemours & Co.		26,137			973,342
Eastman Chemical Co.		1,317			83,867
Ecolab, Inc.		1,724			75,770
FMC Corp.		380			23,005
Huntsman Corp.		5,569			67,106
Innophos Holdings, Inc.		840			23,436
International Flavors & Fragrances, Inc.		1,126			53,676
Lubrizol Corp.		758			69,524
Monsanto Co.		4,097			292,608
Mosaic Co. (The)		915			55,604
Olin Corp.		2,425			47,578
PPG Industries, Inc.		3,435			224,649
Praxair, Inc.		3,647			302,701
RPM International, Inc.		2,843			60,670
Sensient Technologies Corp.		1,282			37,255
Sherwin-Williams Co. (The)		1,542			104,363
Sigma-Aldrich Corp.		659			35,362
Terra Industries, Inc.		728			33,313
Valhi, Inc.(a)		2,706			53,254
Valspar Corp.		1,414			41,685
Westlake Chemical Corp.		652			16,815
Total Chemicals					3,480,735
Coal – 0.1%
Arch Coal, Inc.		1,411			32,241

Investments		Shares		Value
Consol Energy, Inc.		864		$	36,858
Massey Energy Co.		265			13,857
Peabody Energy Corp.		1,287			58,816
Walter Energy, Inc.		169			15,594
Total Coal					157,366
Commercial Services – 1.3%
ABM Industries, Inc.		852			18,062
Automatic Data Processing, Inc.		9,242			410,992
Deluxe Corp.		1,872			36,354
Equifax, Inc.(a)		416			14,893
H&R Block, Inc.		5,595			99,591
Healthcare Services Group, Inc.		1,141			25,547
Hillenbrand, Inc.		1,443			31,732
Interactive Data Corp.		1,905			60,960
Landauer, Inc.(a)		288			18,783
Lender Processing Services, Inc.		504			19,026
Manpower, Inc.		762			43,525
Mastercard, Inc. Class A		182			46,228
McGrath Rentcorp		1,156			28,010
Moody’s Corp.(a)		2,209			65,718
Paychex, Inc.		8,266			253,766
Pharmaceutical Product Development, Inc.		2,154			51,157
R.R. Donnelley & Sons Co.		5,835			124,577
Robert Half International, Inc.(a)		1,637			49,814
Rollins, Inc.		1,585			34,363
SEI Investments Co.		912			20,037
Service Corp. International		3,524			32,350
Strayer Education, Inc.(a)		132			32,145
Total System Services, Inc.		1,912			29,942
Visa, Inc. Class A		1,588			144,556
Washington Post Co. (The) Class B		105			46,639
Weight Watchers International, Inc.(a)		1,154			29,462
Western Union Co. (The)		924			15,671
Total Commercial Services					1,783,900
Computers – 1.6%
Diebold, Inc.(a)		1,631			51,801
Hewlett-Packard Co.		8,555			454,698
International Business Machines Corp.		12,927			1,657,888
Jack Henry & Associates, Inc.		751			18,069
Total Computers					2,182,456
Cosmetics/Personal Care – 2.9%
Alberto-Culver Co.		677			17,704
Avon Products, Inc.		6,466			219,003
Colgate-Palmolive Co.		6,088			519,063
Estee Lauder Cos., Inc. (The) Class A		781			50,663
Procter & Gamble Co. (The)		47,950			3,033,797
Total Cosmetics/Personal Care					3,840,230
Distribution/Wholesale – 0.3%
Fastenal Co.(a)		1,581			75,872
Genuine Parts Co.		3,751			158,442
Owens & Minor, Inc.		517			23,984
Pool Corp.(a)		798			18,067

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		15

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Table of Contents

Schedule of Investments (continued)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
W.W. Grainger, Inc.		827		$	89,415
Watsco, Inc.		584			33,218
Total Distribution/Wholesale					398,998
Diversified Financial Services – 1.4%
American Express Co.		12,066			497,843
Ameriprise Financial, Inc.		2,755			124,967
BGC Partners, Inc. Class A		4,531			27,684
BlackRock, Inc.		407			88,628
Charles Schwab Corp. (The)		9,060			169,331
CME Group, Inc.		538			170,067
Discover Financial Services		1,923			28,653
Eaton Vance Corp.		1,527			51,216
Federated Investors, Inc. Class B(a)		2,114			55,767
Franklin Resources, Inc.		1,069			118,552
GFI Group, Inc.		3,761			21,739
Greenhill & Co., Inc.(a)		335			27,500
NYSE Euronext		7,043			208,543
Raymond James Financial, Inc.		1,239			33,131
Student Loan Corp. (The)		497			17,659
T. Rowe Price Group, Inc.		2,788			153,145
Waddell & Reed Financial, Inc. Class A(a)		1,375			49,555
Total Diversified Financial Services					1,843,980
Electric – 6.8%
Allegheny Energy, Inc.		2,775			63,825
ALLETE, Inc.		1,324			44,328
Alliant Energy Corp.		2,981			99,148
Ameren Corp.		7,331			191,193
American Electric Power Co., Inc.		12,573			429,745
Avista Corp.		1,379			28,559
Black Hills Corp.		1,603			48,651
Central Vermont Public Service Corp.		1,623			32,736
CH Energy Group, Inc.		767			31,324
Cleco Corp.		1,640			43,542
CMS Energy Corp.(a)		4,795			74,131
Consolidated Edison, Inc.		8,037			357,968
Constellation Energy Group, Inc.		3,353			117,724
Dominion Resources, Inc.		15,051			618,747
DPL, Inc.		2,654			72,162
DTE Energy Co.		4,411			196,731
Duke Energy Corp.		40,306			657,794
Edison International		6,438			219,986
Empire District Electric Co. (The)		1,974			35,571
Entergy Corp.		3,864			314,336
Exelon Corp.		15,697			687,686
FirstEnergy Corp.		8,105			316,824
FPL Group, Inc.		8,130			392,923
Great Plains Energy, Inc.(a)		3,526			65,478
Hawaiian Electric Industries, Inc.(a)		3,340			74,983
IDACORP, Inc.		1,351			46,772
Integrys Energy Group, Inc.(a)		2,771			131,290
ITC Holdings Corp.		710			39,050
MDU Resources Group, Inc.		3,102			66,941
MGE Energy, Inc.(a)		719			25,424

Investments		Shares		Value
Northeast Utilities		3,673		$	101,522
NorthWestern Corp.(a)		1,284			34,424
NSTAR		2,585			91,561
NV Energy, Inc.		5,218			64,338
OGE Energy Corp.(a)		2,137			83,215
Otter Tail Corp.		1,463			32,128
Pepco Holdings, Inc.		7,829			134,267
PG&E Corp.		7,786			330,282
Pinnacle West Capital Corp.		3,036			114,548
PNM Resources, Inc.		2,477			31,037
Portland General Electric Co.		2,430			46,923
PPL Corp.		9,037			250,415
Progress Energy, Inc.		9,325			367,032
Public Service Enterprise Group, Inc.		11,370			335,642
SCANA Corp.		3,168			119,085
Southern Co.		23,415			776,441
TECO Energy, Inc.		6,133			97,453
UIL Holdings Corp.		1,463			40,233
Unisource Energy Corp.		1,076			33,829
Unitil Corp.		1,400			32,550
Westar Energy, Inc.		3,453			77,002
Wisconsin Energy Corp.		1,821			89,976
Xcel Energy, Inc.		11,590			245,708
Total Electric					9,055,183
Electrical Components & Equipment – 0.6%
AMETEK, Inc.		425			17,621
Emerson Electric Co.		13,952			702,344
Hubbell, Inc. Class B		1,129			56,935
Molex, Inc.		1,356			28,286
Molex, Inc. Class A		2,299			40,577
Total Electrical Components & Equipment					845,763
Electronics – 0.2%
AVX Corp.		2,052			29,139
Brady Corp. Class A		759			23,620
Gentex Corp.(a)		2,339			45,423
Jabil Circuit, Inc.		2,837			45,931
National Instruments Corp.		853			28,448
PerkinElmer, Inc.		1,069			25,549
Total Electronics					198,110
Engineering & Construction – 0.1%
Fluor Corp.		1,282			59,626
Granite Construction, Inc.		390			11,786
KBR, Inc.		1,564			34,658
Total Engineering & Construction					106,070
Entertainment – 0.2%
Cinemark Holdings, Inc.		3,548			65,070
International Game Technology		2,333			43,044
National CineMedia, Inc.		1,477			25,493
Regal Entertainment Group Class A		3,800			66,766
Total Entertainment					200,373

 

See Notes to Financial Statements.

 

16		WisdomTree Domestic Dividend Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
Environmental Control – 0.4%
Mine Safety Appliances Co.		751		$	20,998
Nalco Holding Co.		510			12,408
Republic Services, Inc.		5,878			170,580
Waste Management, Inc.		10,177			350,394
Total Environmental Control					554,380
Food – 3.1%
B&G Foods, Inc. Class A		3,261			34,175
Campbell Soup Co.		6,340			224,119
ConAgra Foods, Inc.		8,832			221,418
Corn Products International, Inc.		1,104			38,265
Del Monte Foods Co.		2,321			33,887
Flowers Foods, Inc.(a)		1,725			42,676
General Mills, Inc.		5,108			361,595
H.J. Heinz Co.		6,939			316,488
Hershey Co. (The)		3,106			132,968
Hormel Foods Corp.(a)		1,778			74,694
J.M. Smucker Co. (The)		1,595			96,115
Kellogg Co.		6,099			325,870
Kraft Foods, Inc. Class A		36,198			1,094,627
Kroger Co. (The)		7,068			153,093
Lancaster Colony Corp.		533			31,426
Lance, Inc.(a)		561			12,976
McCormick & Co., Inc.		2,004			76,873
Ruddick Corp.(a)		535			16,927
Safeway, Inc.		4,542			112,914
Sara Lee Corp.		14,669			204,339
SUPERVALU, Inc.		3,525			58,797
Sysco Corp.		12,141			358,159
Tyson Foods, Inc. Class A		2,697			51,648
Weis Markets, Inc.		583			21,198
Total Food					4,095,247
Forest Products & Paper – 0.3%
Glatfelter		738			10,694
International Paper Co.		1,110			27,317
MeadWestvaco Corp.		3,254			83,140
Plum Creek Timber Co., Inc.(a)		3,931			152,955
Potlatch Corp.		1,284			44,991
Rayonier, Inc.		2,073			94,177
Weyerhaeuser Co.		534			24,174
Total Forest Products & Paper					437,448
Gas – 0.9%
AGL Resources, Inc.		1,906			73,667
Atmos Energy Corp.		2,244			64,111
Centerpoint Energy, Inc.		11,041			158,549
Chesapeake Utilities Corp.		775			23,095
Energen Corp.		548			25,498
Laclede Group, Inc. (The)		858			28,932
National Fuel Gas Co.		1,164			58,840
New Jersey Resources Corp.		740			27,794
Nicor, Inc.(a)		1,091			45,735
NiSource, Inc.		8,582			135,596

Investments		Shares		Value
Northwest Natural Gas Co.(a)		480		$	22,368
Piedmont Natural Gas Co., Inc.(a)		1,424			39,274
Sempra Energy		3,841			191,666
South Jersey Industries, Inc.		512			21,499
Southern Union Co.		1,966			49,877
Southwest Gas Corp.(a)		820			24,534
UGI Corp.		1,526			40,500
Vectren Corp.		2,430			60,070
WGL Holdings, Inc.		1,056			36,590
Total Gas					1,128,195
Hand/Machine Tools – 0.2%
Baldor Electric Co.		922			34,483
Kennametal, Inc.		858			24,127
Lincoln Electric Holdings, Inc.		682			37,053
Regal-Beloit Corp.		373			22,160
Snap-On, Inc.		1,138			49,321
Stanley Black & Decker, Inc.		1,775			101,902
Total Hand/Machine Tools					269,046
Healthcare-Products – 3.5%
Baxter International, Inc.		7,045			410,019
Beckman Coulter, Inc.		354			22,231
Becton Dickinson and Co.		2,585			203,517
C.R. Bard, Inc.		413			35,774
DENTSPLY International, Inc.		512			17,843
Hill-Rom Holdings, Inc.		786			21,387
Johnson & Johnson		48,352			3,152,550
Medtronic, Inc.		12,040			542,161
Meridian Bioscience, Inc.		1,156			23,548
STERIS Corp.		497			16,729
Stryker Corp.		1,836			105,056
Techne Corp.		356			22,674
Teleflex, Inc.		552			35,367
West Pharmaceutical Services, Inc.		311			13,047
Total Healthcare-Products					4,621,903
Healthcare-Services – 0.1%
Aetna, Inc.		707			24,823
Quest Diagnostics, Inc.		964			56,191
UnitedHealth Group, Inc.		800			26,136
Total Healthcare-Services					107,150
Holding Companies-Diversified – 0.0%
Compass Diversified Holdings		2,997			45,734
Home Builders – 0.1%
D.R. Horton, Inc.(a)		2,715			34,209
KB Home		784			13,132
Lennar Corp. Class A		1,047			18,019
MDC Holdings, Inc.(a)		1,108			38,348
Ryland Group, Inc.		562			12,611
Total Home Builders					116,319
Home Furnishings – 0.1%
Whirlpool Corp.		952			83,062

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		17

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
Household Products/Wares – 0.8%
American Greetings Corp. Class A		3		$	62
Avery Dennison Corp.(a)		1,487			54,142
Church & Dwight Co., Inc.		528			35,350
Clorox Co.		2,464			158,041
Fortune Brands, Inc.		1,719			83,389
Jarden Corp.		795			26,465
Kimberly-Clark Corp.		8,972			564,159
Scotts Miracle-Gro Co. (The) Class A		582			26,976
Tupperware Brands Corp.		901			43,446
Total Household Products/Wares					992,030
Housewares – 0.0%
Newell Rubbermaid, Inc.		2,610			39,672
Toro Co.(a)		360			17,701
Total Housewares					57,373
Insurance – 3.0%
Allstate Corp. (The)		8,658			279,740
American Family Life Assurance Co., Inc.		6,539			355,002
American Financial Group, Inc.		1,708			48,593
American National Insurance Co.(a)		505			57,338
AON Corp.		2,523			107,757
Arthur J. Gallagher & Co.		3,288			80,720
Assurant, Inc.		1,522			52,326
Baldwin & Lyons, Inc. Class B		909			21,898
Brown & Brown, Inc.		1,605			28,762
Chubb Corp.		5,432			281,649
Cincinnati Financial Corp.(a)		5,206			150,453
Donegal Group, Inc. Class A		1,412			20,488
Erie Indemnity Co. Class A		1,284			55,379
Fidelity National Financial, Inc. Class A		5,902			87,468
First American Corp.		1,684			56,987
Hanover Insurance Group, Inc. (The)(a)		544			23,724
Harleysville Group, Inc.(a)		851			28,730
Hartford Financial Services Group, Inc.		2,097			59,597
HCC Insurance Holdings, Inc.		1,516			41,842
Horace Mann Educators Corp.		3			45
Loews Corp.		1,741			64,904
Marsh & McLennan Cos., Inc.		11,057			270,012
Mercury General Corp.		1,753			76,641
Metlife, Inc.		9,598			415,977
Old Republic International Corp.		9,206			116,732
Principal Financial Group, Inc.		4,037			117,921
Protective Life Corp.		1,442			31,710
Prudential Financial, Inc.		3,770			228,085
Reinsurance Group of America, Inc.		308			16,176
RLI Corp.(a)		339			19,330
Safety Insurance Group, Inc.		765			28,817
Selective Insurance Group		1,485			24,651
StanCorp Financial Group, Inc.		752			35,818
State Auto Financial Corp.		1,276			22,904
Torchmark Corp.		790			42,273
Transatlantic Holdings, Inc.		611			32,261
Travelers Cos., Inc. (The)		8,259			445,490

Investments		Shares		Value
Unitrin, Inc.		1,484		$	41,626
Unum Group		3,549			87,909
W.R. Berkley Corp.		1,059			27,629
Zenith National Insurance Corp.		1,466			56,177
Total Insurance					4,041,541
Internet – 0.1%
Earthlink, Inc.		4,630			39,540
NutriSystem, Inc.(a)		3			54
United Online, Inc.		2,983			22,313
Total Internet					61,907
Investment Companies – 0.4%
Apollo Investment Corp.		11,556			147,108
Ares Capital Corp.		7,817			116,004
BlackRock Kelso Capital Corp.		5,704			56,812
Fifth Street Finance Corp.		2,359			27,388
Gladstone Capital Corp.(a)		2,659			31,376
Hercules Technology Growth Capital, Inc.(a)		3,535			37,436
Main Street Capital Corp.(a)		1,706			26,631
PennantPark Investment Corp.		2,800			29,008
Prospect Capital Corp.(a)		4,577			55,610
TICC Capital Corp.		4,690			30,907
Total Investment Companies					558,280
Iron/Steel – 0.4%
AK Steel Holding Corp.		521			11,910
Allegheny Technologies, Inc.(a)		1,153			62,251
Carpenter Technology Corp.		724			26,498
Cliffs Natural Resources, Inc.		496			35,191
Nucor Corp.(a)		6,135			278,406
Reliance Steel & Aluminum Co.		579			28,504
Steel Dynamics, Inc.		1,953			34,119
United States Steel Corp.		521			33,094
Total Iron/Steel					509,973
Leisure Time – 0.1%
Callaway Golf Co.		1,661			14,650
Harley-Davidson, Inc.		2,156			60,519
Polaris Industries, Inc.(a)		822			42,053
Total Leisure Time					117,222
Lodging – 0.1%
Choice Hotels International, Inc.(a)		1,159			40,345
Marriott International, Inc. Class A		2,777			87,531
Starwood Hotels & Resorts Worldwide, Inc.(a)		696			32,461
Wyndham Worldwide Corp.		1,048			26,965
Total Lodging					187,302
Machinery-Construction & Mining – 0.5%
Caterpillar, Inc.		10,441			656,217
Joy Global, Inc.		907			51,336
Total Machinery-Construction & Mining					707,553
Machinery-Diversified – 0.6%
Applied Industrial Technologies, Inc.		794			19,731
Briggs & Stratton Corp.		2			39
Cognex Corp.		1,140			21,078

 

See Notes to Financial Statements.

 

18		WisdomTree Domestic Dividend Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
Cummins, Inc.		1,907		$	118,139
Deere & Co.		5,010			297,895
Flowserve Corp.		378			41,682
Graco, Inc.(a)		999			31,968
IDEX Corp.		860			28,466
Nordson Corp.		436			29,613
Rockwell Automation, Inc.		2,236			126,021
Roper Industries, Inc.		373			21,574
Total Machinery-Diversified					736,206
Media – 1.6%
Cablevision Systems Corp. Class A		2,319			55,981
CBS Corp. Class A		2,267			31,602
CBS Corp. Class B		3,443			47,995
Comcast Corp. Class A		18,085			340,360
Comcast Corp. Special Class A		7,487			134,541
Courier Corp.		2,127			35,117
FactSet Research Systems, Inc.(a)		431			31,623
Gannett Co., Inc.(a)		1,926			31,818
John Wiley & Sons, Inc. Class A		423			18,307
McGraw-Hill Cos., Inc. (The)		4,733			168,731
News Corp. Class A		9,498			136,866
News Corp. Class B(a)		3,741			63,634
Scripps Networks Interactive, Inc. Class A		565			25,058
Time Warner, Inc.		16,834			526,399
Walt Disney Co. (The)		11,433			399,126
World Wrestling Entertainment, Inc. Class A		1,933			33,441
Total Media					2,080,599
Metal Fabricate/Hardware – 0.1%
Commercial Metals Co.(a)		1,961			29,533
Kaydon Corp.		419			15,754
Timken Co.		1,238			37,152
Worthington Industries, Inc.		1,944			33,612
Total Metal Fabricate/Hardware					116,051
Mining – 0.6%
Alcoa, Inc.		5,248			74,732
AMCOL International Corp.		498			13,546
Compass Minerals International, Inc.		385			30,889
Freeport-McMoRan Copper & Gold, Inc.		1,987			165,994
Kaiser Aluminum Corp.(a)		427			16,469
Newmont Mining Corp.		2,280			116,120
Southern Copper Corp.		10,869			344,221
Vulcan Materials Co.		1,596			75,395
Total Mining					837,366
Miscellaneous Manufacturing – 4.3%
3M Co.		10,097			843,806
Acuity Brands, Inc.		354			14,942
Aptargroup, Inc.		548			21,564
Barnes Group, Inc.		1,233			23,982
Brink’s Co. (The)		462			13,042
Carlisle Cos., Inc.(a)		934			35,585
CLARCOR, Inc.		722			24,902
Crane Co.		1,062			37,701

Investments		Shares		Value
Danaher Corp.		375		$	29,966
Donaldson Co., Inc.		537			24,229
Dover Corp.		2,843			132,910
Eaton Corp.		2,849			215,869
General Electric Co.		156,462			2,847,608
Harsco Corp.		1,175			37,530
Honeywell International, Inc.		13,192			597,202
Illinois Tool Works, Inc.		7,421			351,459
ITT Corp.		1,764			94,568
Koppers Holdings, Inc.		439			12,433
Leggett & Platt, Inc.(a)		4,730			102,357
NL Industries, Inc.		3,565			30,588
Pall Corp.		1,059			42,879
Parker Hannifin Corp.		1,674			108,375
Pentair, Inc.		1,265			45,059
SPX Corp.(a)		636			42,180
Textron, Inc.		997			21,166
Trinity Industries, Inc.(a)		841			16,786
Total Miscellaneous Manufacturing					5,768,688
Office Furnishings – 0.0%
HNI Corp.		789			21,011
Knoll, Inc.		2			23
Total Office Furnishings					21,034
Office/Business Equipment – 0.2%
Pitney Bowes, Inc.(a)		7,241			177,043
Xerox Corp.		10,499			102,365
Total Office/Business Equipment					279,408
Oil & Gas – 9.0%
Anadarko Petroleum Corp.		1,691			123,156
Apache Corp.		1,152			116,928
Chesapeake Energy Corp.		4,727			111,746
Chevron Corp.		40,759			3,090,755
Cimarex Energy Co.		421			24,999
ConocoPhillips		33,858			1,732,514
Devon Energy Corp.		2,495			160,753
Diamond Offshore Drilling, Inc.(a)		523			46,448
EOG Resources, Inc.		886			82,345
EQT Corp.		1,512			61,992
Exxon Mobil Corp.		67,111			4,495,095
Helmerich & Payne, Inc.		1			38
Hess Corp.		1,438			89,947
Holly Corp.(a)		787			21,965
Marathon Oil Corp.		12,684			401,322
Murphy Oil Corp.		2,135			119,966
Noble Energy, Inc.		977			71,321
Occidental Petroleum Corp.		7,869			665,245
Patterson-UTI Energy, Inc.		1,801			25,160
Pioneer Natural Resources Co.		2			113
Questar Corp.		1,412			60,998
Range Resources Corp.(a)		397			18,607
Sunoco, Inc.		1,803			53,567
Valero Energy Corp.		12,025			236,892

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		19

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
XTO Energy, Inc.		3,639		$	171,688
Total Oil & Gas					11,983,560
Oil & Gas Services – 0.4%
Baker Hughes, Inc.(a)		2,519			117,990
BJ Services Co.		1,636			35,011
Halliburton Co.		6,618			199,400
National Oilwell Varco, Inc.		2,395			97,189
RPC, Inc.		1,410			15,693
Smith International, Inc.		2,741			117,370
Total Oil & Gas Services					582,653
Packaging & Containers – 0.3%
Ball Corp.		639			34,110
Bemis Co., Inc.		1,892			54,338
Greif, Inc. Class A		3			165
Greif, Inc. Class B		901			46,699
Packaging Corp. of America(a)		1,665			40,976
Rock-Tenn Co. Class A		207			9,433
Sealed Air Corp.		2,219			46,776
Silgan Holdings, Inc.		505			30,416
Sonoco Products Co.		2,244			69,093
Temple-Inland, Inc.		1,512			30,890
Total Packaging & Containers					362,896
Pharmaceuticals – 7.6%
Abbott Laboratories		26,554			1,398,865
Allergan, Inc.		705			46,050
AmerisourceBergen Corp.		2,258			65,301
Bristol-Myers Squibb Co.		54,798			1,463,107
Cardinal Health, Inc.		4,649			167,503
Eli Lilly & Co.		36,242			1,312,685
McKesson Corp.		1,237			81,296
Mead Johnson Nutrition Co.		899			46,775
Merck & Co., Inc.		71,325			2,663,989
Perrigo Co.		401			23,547
Pfizer, Inc.		161,627			2,771,903
Total Pharmaceuticals					10,041,021
Pipelines – 0.5%
El Paso Corp.		2,181			23,642
Oneok, Inc.		2,481			113,258
Spectra Energy Corp.		18,349			413,403
Williams Cos., Inc. (The)		7,008			161,885
Total Pipelines					712,188
REITS – 4.6%
Acadia Realty Trust		1,223			21,843
Agree Realty Corp.		879			20,094
Alexandria Real Estate Equities, Inc.		577			39,005
AMB Property Corp.(a)		3,625			98,745
American Campus Communities, Inc.		1,588			43,924
Apartment Investment & Management Co. Class A		1,981			36,470
AvalonBay Communities, Inc.		2,003			172,959
BioMed Realty Trust, Inc.		1,878			31,062
Boston Properties, Inc.		2,285			172,380

Investments		Shares		Value
Brandywine Realty Trust		3,240		$	39,560
BRE Properties, Inc.		1,232			44,044
Camden Property Trust		1,581			65,817
CBL & Associates Properties, Inc.(a)		2,147			29,414
Cogdell Spencer, Inc.		3,640			26,936
Colonial Properties Trust		2,739			35,278
Corporate Office Properties Trust SBI MD(a)		1,410			56,583
Cousins Properties, Inc.		1,601			13,304
DCT Industrial Trust, Inc.		7,775			40,663
Digital Realty Trust, Inc.(a)		1,543			83,631
Douglas Emmett, Inc.		1,866			28,681
Duke Realty Corp.		7,421			92,020
EastGroup Properties, Inc.(a)		989			37,325
Education Realty Trust, Inc.		3,530			20,262
Entertainment Properties Trust(a)		1,894			77,900
Equity Lifestyle Properties, Inc.		446			24,031
Equity One, Inc.		2,833			53,515
Equity Residential		6,424			251,500
Essex Property Trust, Inc.		699			62,875
Extra Space Storage, Inc.		2,791			35,390
Federal Realty Investment Trust		1,268			92,323
First Potomac Realty Trust		1,595			23,973
Franklin Street Properties Corp.(a)		2,785			40,188
Getty Realty Corp.		1,171			27,401
Gladstone Commercial Corp.		1,746			25,230
Glimcher Realty Trust		7,974			40,428
Government Properties Income Trust		1,032			26,842
HCP, Inc.		9,730			321,090
Health Care REIT, Inc.		3,902			176,488
Healthcare Realty Trust, Inc.		2,294			53,427
Hersha Hospitality Trust		5,446			28,210
Highwoods Properties, Inc.		2,074			65,808
Home Properties, Inc.		1,165			54,522
HRPT Properties Trust		9,747			75,832
Inland Real Estate Corp.(a)		3,825			34,999
Investors Real Estate Trust		3,253			29,342
Kilroy Realty Corp.		938			28,928
Kimco Realty Corp.		11,352			177,545
Kite Realty Group Trust		2,601			12,303
Lexington Realty Trust(a)		6,341			41,280
Liberty Property Trust(a)		3,760			127,614
LTC Properties, Inc.		810			21,919
Macerich Co. (The)		4,331			165,921
Mack-Cali Realty Corp.		2,229			78,572
Medical Properties Trust, Inc.(a)		4,132			43,303
Mid-America Apartment Communities, Inc.(a)		786			40,707
Mission West Properties, Inc.		3,080			21,190
Monmouth Real Estate Investment Corp. Class A		2,964			24,927
National Health Investors, Inc.		983			38,101
National Retail Properties, Inc.		3,045			69,517
Nationwide Health Properties, Inc.(a)		3,052			107,278
Omega Healthcare Investors, Inc.		2,951			57,515
Parkway Properties, Inc.		873			16,395
Pennsylvania Real Estate Investment Trust(a)		2,709			33,781

 

See Notes to Financial Statements.

 

20		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
Post Properties, Inc.		1,337		$	29,441
ProLogis(a)		12,109			159,839
PS Business Parks, Inc.		587			31,346
Public Storage		2,544			234,023
Public Storage Class A		939			22,977
Realty Income Corp.(a)		3,446			105,758
Regency Centers Corp.		2,381			89,216
Saul Centers, Inc.		736			30,470
Senior Housing Properties Trust		4,899			108,513
Simon Property Group, Inc.		5,050			423,695
SL Green Realty Corp.		436			24,970
Sovran Self Storage, Inc.		1,042			36,324
Sun Communities, Inc.		1,282			32,306
Tanger Factory Outlet Centers(a)		848			36,600
Taubman Centers, Inc.(a)		1,323			52,814
UDR, Inc.		3,927			69,272
Universal Health Realty Income Trust		996			35,199
U-Store-It Trust		1			7
Ventas, Inc.		4,294			203,879
Vornado Realty Trust		3,740			283,118
Washington Real Estate Investment Trust(a)		2,023			61,803
Weingarten Realty Investors(a)		3,733			80,484
Winthrop Realty Trust		1,516			18,253
Total REITS					6,148,417
Retail – 6.4%
Abercrombie & Fitch Co. Class A		1,176			53,673
Advance Auto Parts, Inc.(a)		375			15,720
American Eagle Outfitters, Inc.		2,740			50,745
Barnes & Noble, Inc.(a)		1,635			35,349
Best Buy Co., Inc.		3,451			146,806
Bob Evans Farms, Inc.		555			17,155
Brinker International, Inc.		1,944			37,480
Buckle, Inc. (The)(a)		908			33,378
Burger King Holdings, Inc.		1,463			31,103
Cato Corp. (The) Class A		815			17,474
Costco Wholesale Corp.		3,023			180,503
Cracker Barrel Old Country Store, Inc.		515			23,886
CVS Caremark Corp.		8,163			298,439
Darden Restaurants, Inc.		2,467			109,880
Family Dollar Stores, Inc.		1,574			57,624
Foot Locker, Inc.		5,145			77,381
Gap, Inc. (The)		6,505			150,331
Guess ?, Inc.		801			37,631
Home Depot, Inc.		30,429			984,378
J.C. Penney Co., Inc.		4,175			134,310
Lowe’s Cos., Inc.		13,092			317,350
Ltd. Brands, Inc.		6,089			149,911
Macy’s, Inc.		3,130			68,140
McDonald’s Corp.		21,692			1,447,290
MSC Industrial Direct Co. Class A(a)		572			29,012
Nordstrom, Inc.		2,387			97,509
Nu Skin Enterprises, Inc. Class A(a)		921			26,801
PetSmart, Inc.		1,244			39,758

Investments		Shares		Value
RadioShack Corp.		1,319		$	29,849
Ross Stores, Inc.		811			43,364
Staples, Inc.		5,756			134,633
Target Corp.		6,204			326,330
Tiffany & Co.(a)		1,129			53,616
TJX Cos., Inc.		3,269			138,998
Walgreen Co.		8,236			305,473
Wal-Mart Stores, Inc.		45,699			2,540,864
Wendy’s/Arby’s Group, Inc. Class A		5,823			29,115
Williams-Sonoma, Inc.(a)		1,661			43,668
Yum! Brands, Inc.		6,353			243,511
Total Retail					8,558,438
Savings & Loans – 0.8%
Astoria Financial Corp.		2,790			40,455
Brookline Bancorp, Inc.		2,465			26,228
Capitol Federal Financial		2,573			96,385
Dime Community Bancshares		2,022			25,538
First Niagara Financial Group, Inc.		4,771			67,844
Hudson City Bancorp, Inc.		13,759			194,827
New York Community Bancorp, Inc.(a)		14,004			231,626
NewAlliance Bancshares, Inc.		1,317			16,621
Northwest Bancshares, Inc.		2,399			28,164
OceanFirst Financial Corp.		2,112			23,992
Oritani Financial Corp.		1,580			25,391
People’s United Financial, Inc.		6,914			108,135
Provident Financial Services, Inc.		2,276			27,084
Roma Financial Corp.		2,000			25,080
TFS Financial Corp.		4,101			54,748
Washington Federal, Inc.		1,091			22,169
Total Savings & Loans					1,014,287
Semiconductors – 2.7%
Altera Corp.		1,401			34,058
Analog Devices, Inc.		4,501			129,719
Applied Materials, Inc.		13,952			188,073
Intel Corp.		103,204			2,297,321
Intersil Corp. Class A		2,764			40,797
KLA-Tencor Corp.		1,599			49,441
Linear Technology Corp.		3,702			104,693
Maxim Integrated Products, Inc.		7,087			137,417
Microchip Technology, Inc.(a)		5,053			142,292
National Semiconductor Corp.		3,177			45,908
Texas Instruments, Inc.		13,743			336,291
Xilinx, Inc.		3,887			99,118
Total Semiconductors					3,605,128
Software – 2.6%
American Software, Inc. Class A		4,647			26,999
Broadridge Financial Solutions, Inc.		2,305			49,281
CA, Inc.		2,551			59,872
Dun & Bradstreet Corp.		418			31,108
Fidelity National Information Services, Inc.		2,095			49,107
Microsoft Corp.		88,650			2,594,786
Oracle Corp.		25,425			653,168

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		21

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Total Dividend Fund (DTD)

March 31, 2010

  

 

 

Investments		Shares		Value
Quality Systems, Inc.		1		$	61
Total Software					3,464,382
Telecommunications – 8.0%
Adtran, Inc.(a)		1,058			27,878
Alaska Communications Systems Group, Inc.(a)		3,696			30,011
AT&T, Inc.		202,801			5,240,378
CenturyTel, Inc.		13,593			482,008
Consolidated Communications Holdings, Inc.(a)		2,531			47,988
Corning, Inc.		9,904			200,160
Frontier Communications Corp.(a)		23,134			172,117
Harris Corp.		1,594			75,699
Iowa Telecommunications Services, Inc.		1,771			29,576
NTELOS Holdings Corp.		1,962			34,904
QUALCOMM, Inc.		14,650			615,153
Qwest Communications International, Inc.		75,698			395,144
Telephone & Data Systems, Inc. Special Shares		853			25,453
Verizon Communications, Inc.		94,740			2,938,835
Virgin Media, Inc.(a)		2,031			35,055
Windstream Corp.		22,286			242,695
Total Telecommunications					10,593,054
Textiles – 0.0%
Cintas Corp.(a)		1,331			37,388
Toys/Games/Hobbies – 0.2%
Hasbro, Inc.		2,083			79,737
Mattel, Inc.		8,075			183,626
Total Toys/Games/Hobbies					263,363
Transportation – 1.6%
Alexander & Baldwin, Inc.(a)		967			31,959
C.H. Robinson Worldwide, Inc.(a)		1,677			93,660
Con-way, Inc.		456			16,015
CSX Corp.		4,033			205,280
Expeditors International Washington, Inc.		1,461			53,940
FedEx Corp.		910			84,994
Horizon Lines, Inc. Class A		3,254			17,702
International Shipholding Corp.		702			20,632
JB Hunt Transport Services, Inc.		1,004			36,023
Norfolk Southern Corp.		5,397			301,638
Overseas Shipholding Group, Inc.(a)		733			28,756
Ryder System, Inc.		981			38,023
Tidewater, Inc.		643			30,395
Union Pacific Corp.		4,896			358,877
United Parcel Service, Inc. Class B		12,346			795,206
Total Transportation					2,113,100
Trucking & Leasing – 0.0%
GATX Corp.		878			25,155
Water – 0.2%
American States Water Co.		661			22,937
American Water Works Co., Inc.		3,544			77,117
Aqua America, Inc.		2,051			36,036
California Water Service Group		709			26,665
Connecticut Water Service, Inc.		1,319			30,693

Investments		Shares		Value
Middlesex Water Co.		1,756		$	29,940
SJW Corp.(a)		1,242			31,572
Total Water					254,960
TOTAL COMMON STOCKS (Cost: $124,791,784)					132,316,398
SHORT-TERM INVESTMENT – 1.0%
MONEY MARKET FUND – 1.0%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $1,291,883)		1,291,883			1,291,883
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 4.5%
MONEY MARKET FUND – 4.5%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $6,000,048)(d)		6,000,048			6,000,048
TOTAL INVESTMENTS IN SECURITIES – 105.0% (Cost: $132,083,715)					139,608,329
Liabilities in Excess of Other Assets – (5.0)%					(6,637,813	)
NET ASSETS – 100.0%				$	132,970,516

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $5,789,579 and the total market value of the collateral held by the Fund was $6,000,048.

 

See Notes to Financial Statements.

 

22		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments

WisdomTree Equity Income Fund (DHS)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.6%
Agriculture – 9.6%
Altria Group, Inc.		177,608		$	3,644,516
Lorillard, Inc.		10,358			779,336
Philip Morris International, Inc.		112,445			5,865,131
Reynolds American, Inc.		24,417			1,318,030
Universal Corp.(a)		1,156			60,910
Vector Group Ltd.(a)		9,489			146,415
Total Agriculture					11,814,338
Apparel – 0.3%
VF Corp.		4,487			359,633
Auto Parts & Equipment – 0.0%
Superior Industries International, Inc.(a)		1,277			20,534
Banks – 1.5%
1st Source Corp.		1,248			21,902
Arrow Financial Corp.		523			14,063
BancorpSouth, Inc.		3,785			79,334
Bank Mutual Corp.		2,213			14,384
Bank of Hawaii Corp.(a)		2,263			101,722
Capital City Bank Group, Inc.(a)		1,195			17,029
Chemical Financial Corp.(a)		1,489			35,170
City Holding Co.(a)		781			26,780
Community Bank System, Inc.(a)		1,859			42,348
Community Trust Bancorp, Inc.		947			25,654
Cullen/Frost Bankers, Inc.		2,532			141,286
CVB Financial Corp.(a)		5,364			53,264
FNB Corp.		9,901			80,297
Glacier Bancorp, Inc.		3,185			48,508
Hudson Valley Holding Corp.		628			15,198
Independent Bank Corp.(a)		886			21,849
Lakeland Financial Corp.		681			12,973
M&T Bank Corp.(a)		6,296			499,776
NBT Bancorp, Inc.		1,655			37,817
Park National Corp.(a)		1,155			71,968
Renasant Corp.		1,270			20,549
S&T Bancorp, Inc.		1,213			25,352
Sterling Bancshares, Inc.(a)		4,325			24,133
Tompkins Financial Corp.(a)		433			15,796
TrustCo Bank Corp.(a)		3,639			22,453
Trustmark Corp.		3,057			74,682
United Bankshares, Inc.(a)		3,203			83,983
Univest Corp. of Pennsylvania		940			17,569
Valley National Bancorp(a)		9,932			152,655
Washington Trust Bancorp, Inc.		1,134			21,138
WesBanco, Inc.		1,447			23,528
Total Banks					1,843,160
Chemicals – 2.6%
E.I. Du Pont de Nemours & Co.		57,573			2,144,019
Huntsman Corp.		10,760			129,658
Olin Corp.		4,322			84,798
PPG Industries, Inc.		7,613			497,890
Quaker Chemical Corp.		582			15,778

Investments		Shares		Value
RPM International, Inc.		6,669		$	142,316
Schulman A., Inc.		923			22,586
Valhi, Inc.(a)		4,983			98,065
Total Chemicals					3,135,110
Commercial Services – 0.9%
Advance America, Cash Advance Centers, Inc.		3,088			17,972
CDI Corp.		885			12,974
Deluxe Corp.		4,335			84,186
Electro Rent Corp.		1,203			15,796
Healthcare Services Group, Inc.		1,983			44,399
Hillenbrand, Inc.		2,989			65,728
Landauer, Inc.(a)		389			25,371
McGrath Rentcorp		1,109			26,871
Paychex, Inc.(a)		17,716			543,881
R.R. Donnelley & Sons Co.		12,720			271,572
Total Commercial Services					1,108,750
Computers – 0.1%
Diebold, Inc.(a)		3,024			96,042
Distribution/Wholesale – 0.3%
Genuine Parts Co.		8,148			344,171
Watsco, Inc.		1,319			75,025
Total Distribution/Wholesale					419,196
Diversified Financial Services – 0.5%
BGC Partners, Inc. Class A		5,144			31,430
Federated Investors, Inc. Class B(a)		4,817			127,072
GFI Group, Inc.(a)		6,057			35,009
NYSE Euronext		14,850			439,709
Westwood Holdings Group, Inc.		306			11,261
Total Diversified Financial Services					644,481
Electric – 15.2%
ALLETE, Inc.		2,250			75,330
Alliant Energy Corp.		6,633			220,614
Ameren Corp.		16,211			422,783
American Electric Power Co., Inc.		27,934			954,784
Avista Corp.		2,532			52,438
Black Hills Corp.		2,558			77,635
Central Vermont Public Service Corp.		419			8,451
CH Energy Group, Inc.(a)		1,006			41,085
Cleco Corp.		2,425			64,384
CMS Energy Corp.(a)		9,013			139,341
Consolidated Edison, Inc.		17,794			792,545
Dominion Resources, Inc.		33,046			1,358,521
DPL, Inc.		5,920			160,965
DTE Energy Co.		9,983			445,242
Duke Energy Corp.		89,108			1,454,243
Edison International		14,031			479,439
Empire District Electric Co. (The)		2,989			53,862
Entergy Corp.		8,404			683,665
Exelon Corp.		34,682			1,519,418
FirstEnergy Corp.		17,917			700,376
FPL Group, Inc.		17,900			865,107
Great Plains Energy, Inc.(a)		7,506			139,386

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		23

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Equity Income Fund (DHS)

March 31, 2010

  

 

 

Investments		Shares		Value
Hawaiian Electric Industries, Inc.(a)		6,625		$	148,731
IDACORP, Inc.		2,189			75,783
Integrys Energy Group, Inc.(a)		6,011			284,801
MGE Energy, Inc.(a)		1,153			40,770
Northeast Utilities		7,751			214,238
NorthWestern Corp.(a)		2,227			59,706
NSTAR		5,879			208,234
NV Energy, Inc.		10,059			124,027
OGE Energy Corp.(a)		4,666			181,694
Otter Tail Corp.(a)		2,212			48,576
Pepco Holdings, Inc.		18,045			309,472
PG&E Corp.		17,306			734,121
Pinnacle West Capital Corp.		6,982			263,431
PNM Resources, Inc.		4,317			54,092
Portland General Electric Co.		4,484			86,586
PPL Corp.		19,602			543,171
Progress Energy, Inc.		21,073			829,433
Public Service Enterprise Group, Inc.		25,222			744,553
SCANA Corp.		7,546			283,654
Southern Co.		51,625			1,711,885
TECO Energy, Inc.		13,046			207,301
UIL Holdings Corp.		2,283			62,782
Unisource Energy Corp.		1,570			49,361
Unitil Corp.		801			18,623
Westar Energy, Inc.		7,369			164,329
Xcel Energy, Inc.		25,618			543,102
Total Electric					18,702,070
Electrical Components & Equipment – 0.0%
Molex, Inc. Class A		3,266			57,645
Electronics – 0.0%
Methode Electronics, Inc.		1,466			14,513
Entertainment – 0.3%
Cinemark Holdings, Inc.		7,235			132,690
National CineMedia, Inc.		2,589			44,686
Regal Entertainment Group Class A		8,520			149,696
Total Entertainment					327,072
Environmental Control – 0.7%
Mine Safety Appliances Co.		1,565			43,757
U.S. Ecology, Inc.		966			15,553
Waste Management, Inc.		21,504			740,383
Total Environmental Control					799,693
Food – 4.2%
B&G Foods, Inc. Class A		4,115			43,125
ConAgra Foods, Inc.		19,484			488,464
H.J. Heinz Co.		15,764			718,996
Hershey Co. (The)		6,789			290,637
Ingles Markets, Inc. Class A		664			9,980
Kraft Foods, Inc. Class A		78,908			2,386,178
Sara Lee Corp.		31,260			435,452
Sysco Corp.		26,981			795,939
Weis Markets, Inc.(a)		1,036			37,669
Total Food					5,206,440

Investments		Shares		Value
Forest Products & Paper – 0.7%
MeadWestvaco Corp.		7,524		$	192,238
Plum Creek Timber Co., Inc.(a)		9,045			351,941
Potlatch Corp.		3,161			110,762
Rayonier, Inc.		4,673			212,294
Total Forest Products & Paper					867,235
Gas – 1.5%
AGL Resources, Inc.		4,460			172,379
Atmos Energy Corp.		5,203			148,650
Centerpoint Energy, Inc.		24,925			357,923
Chesapeake Utilities Corp.		327			9,745
Laclede Group, Inc. (The)		1,234			41,611
New Jersey Resources Corp.		1,654			62,124
Nicor, Inc.(a)		2,426			101,698
NiSource, Inc.		20,206			319,255
Northwest Natural Gas Co.(a)		1,172			54,615
Piedmont Natural Gas Co., Inc.(a)		3,633			100,198
South Jersey Industries, Inc.		1,258			52,823
Southwest Gas Corp.(a)		1,776			53,138
UGI Corp.		4,837			128,374
Vectren Corp.		5,477			135,391
WGL Holdings, Inc.		2,637			91,372
Total Gas					1,829,296
Hand/Machine Tools – 0.1%
Snap-On, Inc.		2,074			89,887
Holding Companies-Diversified – 0.1%
Compass Diversified Holdings		5,128			78,253
Home Builders - 0.1%
MDC Holdings, Inc.(a)		1,878			64,998
Household Products/Wares - 1.3%
Clorox Co.		5,526			354,438
Ennis, Inc.		1,228			19,979
Kimberly-Clark Corp.		19,633			1,234,523
Total Household Products/Wares					1,608,940
Insurance - 1.8%
Arthur J. Gallagher & Co.		7,116			174,698
Baldwin & Lyons, Inc. Class B		567			13,659
Cincinnati Financial Corp.(a)		12,063			348,621
EMC Insurance Group, Inc.		538			12,116
Erie Indemnity Co. Class A		2,903			125,206
Fidelity National Financial, Inc. Class A		12,257			181,649
Harleysville Group, Inc.(a)		1,353			45,677
Life Partners Holdings, Inc.		884			19,598
Marsh & McLennan Cos., Inc.		23,770			580,463
Mercury General Corp.		4,074			178,115
Old Republic International Corp.		19,343			245,269
Safety Insurance Group, Inc.		802			30,211
Selective Insurance Group		2,013			33,416
State Auto Financial Corp.		1,618			29,043
United Fire & Casualty Co.		1,090			19,609
Unitrin, Inc.		3,191			89,508

 

See Notes to Financial Statements.

 

24		WisdomTree Domestic Dividend Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Equity Income Fund (DHS)

March 31, 2010

  

 

 

Investments		Shares		Value
Universal Insurance Holdings, Inc.		4,860		$	24,592
Zenith National Insurance Corp.		3,012			115,420
Total Insurance					2,266,870
Internet – 0.1%
Earthlink, Inc.		8,775			74,938
United Online, Inc.		5,729			42,853
Total Internet					117,791
Investment Companies – 0.8%
Apollo Investment Corp.		24,223			308,359
Ares Capital Corp.(a)		15,975			237,069
BlackRock Kelso Capital Corp.		11,592			115,456
Fifth Street Finance Corp.		4,703			54,602
Hercules Technology Growth Capital, Inc.(a)		5,178			54,835
MVC Capital, Inc.		1,231			16,704
PennantPark Investment Corp.		3,663			37,949
Prospect Capital Corp.(a)		9,399			114,198
Total Investment Companies					939,172
Iron/Steel – 0.5%
Nucor Corp.(a)		12,602			571,879
Leisure Time – 0.1%
Polaris Industries, Inc.(a)		1,490			76,228
Machinery-Diversified – 0.0%
NACCO Industries, Inc. Class A		300			22,245
Media – 0.1%
Meredith Corp.		1,512			52,028
World Wrestling Entertainment, Inc. Class A(a)		2,989			51,710
Total Media					103,738
Metal Fabricate/Hardware – 0.1%
Worthington Industries, Inc.		3,726			64,423
Miscellaneous Manufacturing – 0.2%
Federal Signal Corp.(a)		2,353			21,201
Leggett & Platt, Inc.(a)		9,689			209,670
NL Industries, Inc.		4,293			36,834
Sturm Ruger & Co., Inc.(a)		875			10,491
Total Miscellaneous Manufacturing					278,196
Office Furnishings – 0.0%
HNI Corp.		2,021			53,819
Office/Business Equipment – 0.3%
Pitney Bowes, Inc.(a)		15,897			388,682
Oil & Gas – 8.9%
Chevron Corp.		87,852			6,661,817
ConocoPhillips		73,768			3,774,709
Valero Energy Corp.		24,719			486,964
Whiting USA Trust I		2,493			47,043
Total Oil & Gas					10,970,533
Packaging & Containers – 0.2%
Greif, Inc. Class B(a)		1,276			66,135
Sonoco Products Co.		4,429			136,369
Total Packaging & Containers					202,504

Investments		Shares		Value
Pharmaceuticals – 14.4%
Bristol-Myers Squibb Co.		117,961		$	3,149,559
Eli Lilly & Co.		78,054			2,827,116
Merck & Co., Inc.		153,684			5,740,097
Pfizer, Inc.		349,380			5,991,867
Total Pharmaceuticals					17,708,639
Pipelines – 0.9%
Oneok, Inc.		5,098			232,723
Spectra Energy Corp.		39,909			899,150
Total Pipelines					1,131,873
REITS – 8.7%
Acadia Realty Trust		2,122			37,899
Agree Realty Corp.		805			18,402
AMB Property Corp.(a)		8,253			224,812
American Campus Communities, Inc.		3,090			85,469
AvalonBay Communities, Inc.		4,509			389,352
Brandywine Realty Trust		5,859			71,538
BRE Properties, Inc.		3,265			116,724
Camden Property Trust		3,575			148,827
CapLease, Inc.		2,701			14,991
Cogdell Spencer, Inc.		3,558			26,329
Colonial Properties Trust		5,127			66,036
Corporate Office Properties Trust SBI MD(a)		3,085			123,801
DCT Industrial Trust, Inc.		15,001			78,455
Digital Realty Trust, Inc.(a)		3,444			186,665
Duke Realty Corp.		15,878			196,887
EastGroup Properties, Inc.(a)		1,733			65,403
Education Realty Trust, Inc.		2,787			15,997
Entertainment Properties Trust(a)		3,944			162,217
Equity One, Inc.		5,698			107,635
Equity Residential		14,137			553,464
Essex Property Trust, Inc.		1,731			155,703
Extra Space Storage, Inc.		4,677			59,304
Federal Realty Investment Trust		3,053			222,289
First Potomac Realty Trust		3,456			51,944
Franklin Street Properties Corp.(a)		5,510			79,509
Getty Realty Corp.(a)		2,505			58,617
Glimcher Realty Trust(a)		11,785			59,750
Government Properties Income Trust		1,769			46,012
HCP, Inc.		21,979			725,307
Health Care REIT, Inc.		9,037			408,744
Healthcare Realty Trust, Inc.		5,158			120,130
Highwoods Properties, Inc.		4,519			143,388
Home Properties, Inc.(a)		2,495			116,766
HRPT Properties Trust		21,174			164,734
Inland Real Estate Corp.(a)		7,489			68,524
Investors Real Estate Trust		6,623			59,739
Kilroy Realty Corp.		2,385			73,553
Kimco Realty Corp.		23,797			372,185
Kite Realty Group Trust		4,527			21,413
Lexington Realty Trust(a)		10,670			69,462
Liberty Property Trust(a)		8,107			275,152
LTC Properties, Inc.		1,486			40,211

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		25

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Equity Income Fund (DHS)

March 31, 2010

  

 

 

Investments		Shares		Value
Macerich Co. (The)		9,058		$	347,012
Mack-Cali Realty Corp.		5,104			179,916
Medical Properties Trust, Inc.(a)		9,148			95,871
Mid-America Apartment Communities, Inc.(a)		1,850			95,812
National Health Investors, Inc.		2,071			80,272
National Retail Properties, Inc.		7,257			165,677
Nationwide Health Properties, Inc.(a)		6,995			245,874
Omega Healthcare Investors, Inc.		6,808			132,688
Parkway Properties, Inc.		1,820			34,180
Pennsylvania Real Estate Investment Trust(a)		3,990			49,755
Post Properties, Inc.		3,104			68,350
ProLogis(a)		26,080			344,256
PS Business Parks, Inc.		1,038			55,429
Ramco-Gershenson Properties Trust		2,476			27,880
Realty Income Corp.(a)		8,285			254,267
Regency Centers Corp.		5,380			201,589
Saul Centers, Inc.		1,019			42,187
Senior Housing Properties Trust		10,528			233,195
Sovran Self Storage, Inc.		1,729			60,273
Sun Communities, Inc.		3,059			77,087
Tanger Factory Outlet Centers(a)		1,859			80,234
Taubman Centers, Inc.(a)		3,095			123,552
UDR, Inc.		8,609			151,863
Universal Health Realty Income Trust		1,129			39,899
Urstadt Biddle Properties, Inc. Class A		1,437			22,719
Ventas, Inc.		9,130			433,492
Vornado Realty Trust		8,394			635,426
Washington Real Estate Investment Trust		4,665			142,516
Weingarten Realty Investors(a)		7,632			164,546
Total REITS					10,669,156
Retail – 3.1%
Barnes & Noble, Inc.(a)		3,685			79,670
Cato Corp. (The) Class A		1,086			23,284
Christopher & Banks Corp.		1,352			10,816
Foot Locker, Inc.		11,426			171,847
Ltd. Brands, Inc.		12,700			312,674
McDonald’s Corp.		47,278			3,154,388
Total Retail					3,752,679
Savings & Loans – 1.4%
Astoria Financial Corp.(a)		5,160			74,820
Berkshire Hills Bancorp, Inc.		553			10,137
Brookline Bancorp, Inc.		2,700			28,728
Capitol Federal Financial		5,988			224,311
Dime Community Bancshares		2,040			25,765
First Niagara Financial Group, Inc.(a)		9,584			136,284
Flushing Financial Corp.		1,779			22,522
Hudson City Bancorp, Inc.		29,077			411,730
New York Community Bancorp, Inc.(a)		31,429			519,836
Northwest Bancshares, Inc.		4,127			48,451
People’s United Financial, Inc.		15,592			243,859
Provident Financial Services, Inc.		2,981			35,474
Total Savings & Loans					1,781,917

Investments		Shares		Value
Semiconductors - 0.6%
Intersil Corp. Class A		5,502		$	81,209
Maxim Integrated Products, Inc.		15,558			301,670
Microchip Technology, Inc.(a)		10,649			299,876
Total Semiconductors					682,755
Software – 0.0%
Bowne & Co., Inc.		1,538			17,164
Opnet Technologies, Inc.		740			11,929
Total Software					29,093
Telecommunications – 16.8%
Alaska Communications Systems Group, Inc.(a)		5,827			47,315
AT&T, Inc.		438,540			11,331,874
CenturyTel, Inc.		29,638			1,050,963
Consolidated Communications Holdings, Inc.(a)		3,480			65,981
Frontier Communications Corp.(a)		50,802			377,967
Iowa Telecommunications Services, Inc.		3,889			64,946
NTELOS Holdings Corp.		3,251			57,835
Qwest Communications International, Inc.		162,768			849,649
Verizon Communications, Inc.		203,712			6,319,146
Windstream Corp.		48,576			528,993
Total Telecommunications					20,694,669
Toys/Games/Hobbies – 0.3%
Mattel, Inc.		16,700			379,758
Transportation – 0.1%
Alexander & Baldwin, Inc.(a)		1,807			59,721
International Shipholding Corp.		596			17,516
Overseas Shipholding Group, Inc.		1,333			52,294
Total Transportation					129,531
Trucking & Leasing – 0.0%
GATX Corp.		2,030			58,160
Water – 0.2%
American Water Works Co., Inc.		7,894			171,773
Aqua America, Inc.		5,447			95,704
Middlesex Water Co.		689			11,748
Total Water					279,225
TOTAL COMMON STOCKS (Cost: $124,690,769)					122,440,821
SHORT-TERM INVESTMENT – 0.6%
MONEY MARKET FUND – 0.6%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $766,738)		766,738			766,738

 

See Notes to Financial Statements.

 

26		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Equity Income Fund (DHS)

March 31, 2010

  

 

 

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 8.4%
MONEY MARKET FUND – 8.4%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $10,348,083)(d)		10,348,083		$	10,348,083
TOTAL INVESTMENTS IN SECURITIES – 108.6% (Cost: $135,805,590)					133,555,642
Liabilities in Excess of Other Assets – (8.6)%					(10,648,742	)
NET ASSETS – 100.0%				$	122,906,900

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $10,045,550 and the total market value of the collateral held by the Fund was $10,348,083.

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		27

---

Table of Contents

Schedule of Investments

WisdomTree LargeCap Dividend Fund (DLN)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.6%
Advertising – 0.1%
Omnicom Group, Inc.		10,663		$	413,831
Aerospace/Defense – 3.3%
Boeing Co. (The)		47,461			3,446,143
General Dynamics Corp.		17,555			1,355,246
Goodrich Corp.		4,537			319,949
L-3 Communications Holdings, Inc.		3,943			361,297
Lockheed Martin Corp.		26,126			2,174,206
Northrop Grumman Corp.		20,249			1,327,727
Raytheon Co.		18,557			1,059,976
Rockwell Collins, Inc.(a)		5,661			354,322
United Technologies Corp.		43,134			3,175,094
Total Aerospace/Defense					13,573,960
Agriculture – 4.9%
Altria Group, Inc.		299,025			6,135,993
Archer-Daniels-Midland Co.		23,826			688,571
Lorillard, Inc.		17,489			1,315,872
Philip Morris International, Inc.		189,613			9,890,214
Reynolds American, Inc.		41,227			2,225,434
Total Agriculture					20,256,084
Airlines – 0.0%
Southwest Airlines Co.		2,462			32,548
Apparel – 0.4%
Coach, Inc.		5,193			205,227
NIKE, Inc. Class B		13,729			1,009,081
Polo Ralph Lauren Corp.		564			47,963
VF Corp.		7,597			608,900
Total Apparel					1,871,171
Auto Manufacturers – 0.1%
PACCAR, Inc.		8,363			362,452
Auto Parts & Equipment – 0.2%
Johnson Controls, Inc.		25,970			856,750
Banks – 3.2%
Bank of America Corp.		51,295			915,616
Bank of New York Mellon Corp. (The)		34,463			1,064,217
BB&T Corp.		34,332			1,112,013
Capital One Financial Corp.		5,305			219,680
Fifth Third Bancorp(a)		8,465			115,039
Goldman Sachs Group, Inc. (The)		9,319			1,590,101
JPMorgan Chase & Co.		41,316			1,848,891
KeyCorp		13,790			106,872
M&T Bank Corp.(a)		10,870			862,861
Morgan Stanley		20,987			614,709
Northern Trust Corp.		11,247			621,509
PNC Financial Services Group, Inc.		7,926			473,182
Regions Financial Corp.(a)		21,847			171,499
State Street Corp.		1,333			60,172
SunTrust Banks, Inc.		3,000			80,370
U.S. Bancorp		38,369			992,990

Investments		Shares		Value
Wells Fargo & Co.		75,609		$	2,352,952
Total Banks					13,202,673
Beverages – 3.9%
Brown-Forman Corp. Class A		2,429			152,541
Brown-Forman Corp. Class B(a)		4,295			255,338
Coca-Cola Co. (The)		139,792			7,688,560
Coca-Cola Enterprises, Inc.		16,484			455,947
Dr. Pepper Snapple Group, Inc.		10,907			383,599
Molson Coors Brewing Co. Class B		7,145			300,519
PepsiCo, Inc.		101,811			6,735,816
Total Beverages					15,972,320
Building Materials – 0.1%
Masco Corp.		18,610			288,827
Chemicals – 2.4%
Air Products & Chemicals, Inc.		9,888			731,218
Dow Chemical Co. (The)(a)		55,762			1,648,882
E.I. Du Pont de Nemours & Co.		96,679			3,600,326
Ecolab, Inc.		6,117			268,842
Lubrizol Corp.		2,286			209,672
Monsanto Co.		14,593			1,042,232
Mosaic Co. (The)		3,216			195,436
PPG Industries, Inc.		12,827			838,886
Praxair, Inc.		12,555			1,042,065
Sherwin-Williams Co. (The)		5,428			367,367
Sigma-Aldrich Corp.		3,389			181,854
Total Chemicals					10,126,780
Coal – 0.1%
Consol Energy, Inc.		3,678			156,903
Peabody Energy Corp.		3,581			163,652
Total Coal					320,555
Commercial Services – 0.9%
Automatic Data Processing, Inc.		33,211			1,476,893
H&R Block, Inc.(a)		20,018			356,320
Mastercard, Inc. Class A		596			151,384
Moody’s Corp.(a)		6,689			198,998
Paychex, Inc.(a)		29,617			909,242
Visa, Inc. Class A		5,638			513,227
Western Union Co. (The)		3,189			54,086
Total Commercial Services					3,660,150
Computers – 1.9%
Hewlett-Packard Co.		31,259			1,661,416
International Business Machines Corp.		47,277			6,063,275
Total Computers					7,724,691
Cosmetics/Personal Care – 3.3%
Avon Products, Inc.		23,455			794,421
Colgate-Palmolive Co.		22,017			1,877,169
Estee Lauder Cos., Inc. (The) Class A		2,627			170,414
Procter & Gamble Co. (The)		174,427			11,035,996
Total Cosmetics/Personal Care					13,878,000

 

See Notes to Financial Statements.

 

28		WisdomTree Domestic Dividend Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Dividend Fund (DLN)

March 31, 2010

  

 

 

Investments		Shares		Value
Distribution/Wholesale – 0.3%
Fastenal Co.(a)		5,683		$	272,727
Genuine Parts Co.		13,718			579,449
W.W. Grainger, Inc.		2,902			313,764
Total Distribution/Wholesale					1,165,940
Diversified Financial Services – 1.4%
American Express Co.		44,393			1,831,655
Ameriprise Financial, Inc.		9,782			443,712
BlackRock, Inc.		1,466			319,236
Charles Schwab Corp. (The)		32,107			600,080
CME Group, Inc.		1,964			620,840
Discover Financial Services		6,836			101,856
Franklin Resources, Inc.		3,909			433,508
NYSE Euronext		25,016			740,724
T. Rowe Price Group, Inc.		10,507			577,150
Total Diversified Financial Services					5,668,761
Electric – 6.2%
Ameren Corp.		27,459			716,131
American Electric Power Co., Inc.		45,927			1,569,785
Consolidated Edison, Inc.		30,069			1,339,273
Constellation Energy Group, Inc.		12,594			442,175
Dominion Resources, Inc.		55,112			2,265,654
DTE Energy Co.		17,294			771,312
Duke Energy Corp.		150,641			2,458,461
Edison International		23,581			805,763
Entergy Corp.		14,232			1,157,773
Exelon Corp.		57,883			2,535,854
FirstEnergy Corp.		29,797			1,164,765
FPL Group, Inc.		29,459			1,423,754
PG&E Corp.(a)		28,693			1,217,157
PPL Corp.		33,183			919,501
Progress Energy, Inc.		34,708			1,366,107
Public Service Enterprise Group, Inc.		41,526			1,225,848
Southern Co.		86,206			2,858,591
Wisconsin Energy Corp.		6,763			334,160
Xcel Energy, Inc.(a)		43,241			916,709
Total Electric					25,488,773
Electrical Components & Equipment – 0.6%
Emerson Electric Co.		50,410			2,537,639
Electronics – 0.0%
Amphenol Corp. Class A		871			36,748
Engineering & Construction – 0.0%
Fluor Corp.		4,226			196,551
Entertainment – 0.0%
International Game Technology		7,330			135,239
Environmental Control – 0.4%
Republic Services, Inc.		21,873			634,754
Waste Management, Inc.		35,613			1,226,156
Total Environmental Control					1,860,910
Food – 3.3%
Campbell Soup Co.		24,182			854,834

Investments		Shares		Value
ConAgra Foods, Inc.		32,450		$	813,522
General Mills, Inc.		18,639			1,319,455
H.J. Heinz Co.(a)		26,653			1,215,643
Hershey Co. (The)		11,400			488,034
Hormel Foods Corp.(a)		5,925			248,909
J.M. Smucker Co. (The)		6,182			372,527
Kellogg Co.		22,400			1,196,832
Kraft Foods, Inc. Class A		131,937			3,989,775
Kroger Co. (The)		24,709			535,197
Safeway, Inc.		15,562			386,871
Sara Lee Corp.		52,270			728,121
Sysco Corp.		45,601			1,345,230
Total Food					13,494,950
Forest Products & Paper – 0.2%
International Paper Co.		4,748			116,848
Plum Creek Timber Co., Inc.(a)		15,276			594,389
Weyerhaeuser Co.		2,611			118,200
Total Forest Products & Paper					829,437
Gas – 0.3%
Centerpoint Energy, Inc.		42,019			603,393
Sempra Energy		14,392			718,161
Total Gas					1,321,554
Healthcare-Products – 3.9%
Baxter International, Inc.		25,580			1,488,756
Becton Dickinson and Co.		9,425			742,030
C.R. Bard, Inc.		1,595			138,159
DENTSPLY International, Inc.		2,044			71,234
Johnson & Johnson		175,821			11,463,529
Medtronic, Inc.		43,463			1,957,139
Stryker Corp.		6,327			362,031
Total Healthcare-Products					16,222,878
Healthcare-Services – 0.1%
Aetna, Inc.		1,177			41,324
CIGNA Corp.		591			21,619
Quest Diagnostics, Inc.		2,426			141,411
UnitedHealth Group, Inc.		2,095			68,444
Total Healthcare-Services					272,798
Home Furnishings – 0.1%
Whirlpool Corp.		3,282			286,355
Household Products/Wares – 0.7%
Clorox Co.		9,360			600,350
Fortune Brands, Inc.		6,355			308,281
Kimberly-Clark Corp.		32,718			2,057,308
Total Household Products/Wares					2,965,939
Insurance – 2.4%
Allstate Corp. (The)		32,342			1,044,970
American Family Life Assurance Co., Inc.		23,972			1,301,440
AON Corp.		8,935			381,614
Chubb Corp.		21,115			1,094,813
Hartford Financial Services Group, Inc.		6,323			179,700
Lincoln National Corp.		1,039			31,897

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		29

---

Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Dividend Fund (DLN)

March 31, 2010

  

 

 

Investments		Shares		Value
Loews Corp.		5,842		$	217,790
Marsh & McLennan Cos., Inc.		39,599			967,007
Metlife, Inc.		35,501			1,538,613
Principal Financial Group, Inc.		13,664			399,125
Prudential Financial, Inc.		13,260			802,230
Travelers Cos., Inc. (The)		31,117			1,678,451
Unum Group		11,744			290,899
Total Insurance					9,928,549
Iron/Steel – 0.3%
Cliffs Natural Resources, Inc.		2,004			142,184
Nucor Corp.(a)		21,076			956,429
United States Steel Corp.(a)		1,150			73,048
Total Iron/Steel					1,171,661
Leisure Time – 0.1%
Harley-Davidson, Inc.		9,289			260,742
Lodging – 0.1%
Marriott International, Inc. Class A		9,417			296,824
Starwood Hotels & Resorts Worldwide, Inc.(a)		2,015			93,979
Total Lodging					390,803
Machinery-Construction & Mining – 0.6%
Caterpillar, Inc.		38,455			2,416,897
Joy Global, Inc.		3,343			189,214
Total Machinery-Construction & Mining					2,606,111
Machinery-Diversified – 0.5%
Cummins, Inc.(a)		6,496			402,427
Deere & Co.		18,258			1,085,621
Flowserve Corp.		1,223			134,860
Rockwell Automation, Inc.		7,494			422,362
Roper Industries, Inc.		1,128			65,243
Total Machinery-Diversified					2,110,513
Media – 1.7%
Cablevision Systems Corp. Class A		7,568			182,692
CBS Corp. Class A		1,609			22,429
CBS Corp. Class B		21,775			303,543
Comcast Corp. Class A		65,787			1,238,111
Comcast Corp. Special Class A		26,338			473,294
McGraw-Hill Cos., Inc. (The)		17,414			620,809
News Corp. Class A		34,694			499,941
News Corp. Class B(a)		13,279			225,876
Scripps Networks Interactive, Inc. Class A		1,888			83,733
Time Warner, Inc.		61,791			1,932,205
Walt Disney Co. (The)		42,278			1,475,925
Total Media					7,058,558
Metal Fabricate/Hardware – 0.0%
Precision Castparts Corp.		442			56,006
Mining – 0.7%
Alcoa, Inc.		18,475			263,084
Freeport-McMoRan Copper & Gold, Inc.		6,973			582,524
Newmont Mining Corp.		7,899			402,296
Southern Copper Corp.		41,076			1,300,877

Investments		Shares		Value
Vulcan Materials Co.(a)		5,356		$	253,018
Total Mining					2,801,799
Miscellaneous Manufacturing – 4.6%
3M Co.		37,084			3,099,110
Danaher Corp.		1,045			83,506
Dover Corp.		9,759			456,233
Eaton Corp.		10,935			828,545
General Electric Co.		572,440			10,418,408
Honeywell International, Inc.		48,973			2,217,008
Illinois Tool Works, Inc.		27,095			1,283,219
ITT Corp.		6,142			329,273
Parker Hannifin Corp.		6,440			416,925
Textron, Inc.(a)		4,217			89,527
Total Miscellaneous Manufacturing					19,221,754
Office/Business Equipment – 0.1%
Xerox Corp.		36,396			354,861
Oil & Gas – 10.4%
Anadarko Petroleum Corp.		5,984			435,815
Apache Corp.		4,155			421,733
Chesapeake Energy Corp.		17,221			407,104
Chevron Corp.		148,149			11,234,139
ConocoPhillips		124,802			6,386,118
Devon Energy Corp.		8,661			558,028
Diamond Offshore Drilling, Inc.(a)		1,496			132,860
EOG Resources, Inc.		3,097			287,835
EQT Corp.		5,548			227,468
Exxon Mobil Corp.		244,067			16,347,608
Hess Corp.		4,766			298,113
Marathon Oil Corp.		46,475			1,470,469
Murphy Oil Corp.		7,288			409,513
Noble Energy, Inc.		3,972			289,956
Occidental Petroleum Corp.		28,466			2,406,516
Pioneer Natural Resources Co.		945			53,222
Questar Corp.		4,612			199,238
Range Resources Corp.(a)		1,141			53,479
Valero Energy Corp.		41,372			815,028
XTO Energy, Inc.		12,856			606,546
Total Oil & Gas					43,040,788
Oil & Gas Services – 0.5%
Baker Hughes, Inc.(a)		9,271			434,254
BJ Services Co.		6,177			132,188
Halliburton Co.		23,496			707,934
National Oilwell Varco, Inc.		7,422			301,185
Smith International, Inc.		9,001			385,423
Total Oil & Gas Services					1,960,984
Pharmaceuticals - 8.8%
Abbott Laboratories		96,465			5,081,776
Allergan, Inc.		2,167			141,549
AmerisourceBergen Corp.		7,313			211,492
Bristol-Myers Squibb Co.		199,683			5,331,536
Cardinal Health, Inc.		15,972			575,471
Eli Lilly & Co.		131,176			4,751,195

 

See Notes to Financial Statements.

 

30		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Dividend Fund (DLN)

March 31, 2010

  

 

 

Investments		Shares		Value
McKesson Corp.		4,356		$	286,276
Mead Johnson Nutrition Co.		2,875			149,586
Merck & Co., Inc.		259,826			9,704,501
Pfizer, Inc.		590,808			10,132,357
Total Pharmaceuticals					36,365,739
Pipelines – 0.5%
El Paso Corp.		8,135			88,183
Spectra Energy Corp.		65,802			1,482,519
Williams Cos., Inc. (The)		26,085			602,564
Total Pipelines					2,173,266
REITS – 2.2%
AvalonBay Communities, Inc.		7,617			657,728
Boston Properties, Inc.		8,713			657,309
Equity Residential(a)		24,371			954,125
HCP, Inc.		35,699			1,178,067
Health Care REIT, Inc.		15,239			689,260
ProLogis(a)		43,524			574,517
Public Storage		9,740			895,982
Public Storage Class A		1,615			39,519
Simon Property Group, Inc.		18,451			1,548,039
Ventas, Inc.		15,530			737,364
Vornado Realty Trust		14,090			1,066,613
Total REITS					8,998,523
Retail – 6.8%
Best Buy Co., Inc.		11,911			506,694
Costco Wholesale Corp.		11,027			658,422
CVS Caremark Corp.		28,809			1,053,257
Gap, Inc. (The)		23,204			536,244
Home Depot, Inc.		111,409			3,604,081
J.C. Penney Co., Inc.(a)		14,339			461,286
Lowe’s Cos., Inc.		46,386			1,124,397
Ltd. Brands, Inc.		22,714			559,219
Macy’s, Inc.		9,734			211,909
McDonald’s Corp.		79,450			5,300,904
Nordstrom, Inc.		7,663			313,034
Ross Stores, Inc.		2,448			130,895
Staples, Inc.		20,445			478,208
Target Corp.		22,518			1,184,447
Tiffany & Co.(a)		3,921			186,208
TJX Cos., Inc.		11,656			495,613
Walgreen Co.		30,775			1,141,445
Wal-Mart Stores, Inc.		166,514			9,258,178
Yum! Brands, Inc.		23,494			900,525
Total Retail					28,104,966
Savings & Loans – 0.3%
Hudson City Bancorp, Inc.		49,626			702,704
People’s United Financial, Inc.		26,059			407,563
Total Savings & Loans					1,110,267

Investments		Shares		Value
Semiconductors – 3.1%
Altera Corp.		5,323		$	129,402
Analog Devices, Inc.		16,240			468,037
Applied Materials, Inc.		47,876			645,368
Intel Corp.		370,415			8,245,438
KLA-Tencor Corp.		5,597			173,059
Linear Technology Corp.		13,975			395,213
Maxim Integrated Products, Inc.(a)		26,158			507,204
Microchip Technology, Inc.(a)		19,247			541,996
Texas Instruments, Inc.		50,114			1,226,290
Xilinx, Inc.		14,923			380,536
Total Semiconductors					12,712,543
Software – 2.9%
CA, Inc.		7,728			181,376
Fidelity National Information Services, Inc.		6,313			147,977
Microsoft Corp.		319,313			9,346,291
Oracle Corp.		86,342			2,218,126
Total Software					11,893,770
Telecommunications – 8.8%
AT&T, Inc.		739,365			19,105,192
CenturyTel, Inc.		49,194			1,744,419
Corning, Inc.		36,643			740,555
Harris Corp.		5,284			250,937
QUALCOMM, Inc.		52,926			2,222,363
Qwest Communications International, Inc.		270,252			1,410,715
Verizon Communications, Inc.		344,396			10,683,164
Virgin Media, Inc.(a)		6,193			106,891
Total Telecommunications					36,264,236
Toys/Games/Hobbies – 0.2%
Mattel, Inc.		29,742			676,333
Transportation – 1.7%
C.H. Robinson Worldwide, Inc.(a)		5,864			327,505
CSX Corp.		14,742			750,368
Expeditors International Washington, Inc.		4,783			176,588
FedEx Corp.		3,276			305,979
Norfolk Southern Corp.		19,671			1,099,412
Union Pacific Corp.		17,941			1,315,075
United Parcel Service, Inc. Class B		45,576			2,935,550
Total Transportation					6,910,477
TOTAL COMMON STOCKS (Cost: $395,108,335)					411,198,513
SHORT-TERM INVESTMENT – 0.8%
MONEY MARKET FUND – 0.8%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $3,420,176)		3,420,176			3,420,176

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		31

---

Table of Contents

Schedule of Investments (concluded)

WisdomTree LargeCap Dividend Fund (DLN)

March 31, 2010

  

 

 

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.1%
MONEY MARKET FUND – 3.1%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $12,882,104)(d)		12,882,104		$	12,882,104
TOTAL INVESTMENTS IN SECURITIES – 103.5% (Cost: $411,410,615)					427,500,793
Liabilities in Excess of Other Assets – (3.5)%					(14,691,862	)
NET ASSETS – 100.0%				$	412,808,931

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $12,550,830 and the total market value of the collateral held by the Fund was $12,882,104.

 

See Notes to Financial Statements.

 

32		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments

WisdomTree Dividend ex-Financials Fund (DTN)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.6%
Aerospace/Defense – 3.5%
Boeing Co. (The)		33,960		$	2,465,836
Lockheed Martin Corp.		24,600			2,047,212
Northrop Grumman Corp.		32,008			2,098,764
Total Aerospace/Defense					6,611,812
Agriculture – 7.6%
Altria Group, Inc.		210,630			4,322,128
Lorillard, Inc.		38,044			2,862,430
Philip Morris International, Inc.		56,951			2,970,564
Reynolds American, Inc.		78,070			4,214,219
Total Agriculture					14,369,341
Apparel – 1.1%
VF Corp.		25,855			2,072,278
Chemicals – 5.8%
Air Products & Chemicals, Inc.		15,087			1,115,684
Dow Chemical Co. (The)(a)		47,987			1,418,976
E.I. Du Pont de Nemours & Co.		85,466			3,182,754
Lubrizol Corp.		13,398			1,228,864
Monsanto Co.		9,205			657,421
PPG Industries, Inc.		35,667			2,332,622
Praxair, Inc.		13,787			1,144,321
Total Chemicals					11,080,642
Commercial Services – 2.9%
Automatic Data Processing, Inc.		42,088			1,871,653
H&R Block, Inc.		83,596			1,488,009
Paychex, Inc.(a)		72,662			2,230,724
Total Commercial Services					5,590,386
Distribution/Wholesale – 1.5%
Genuine Parts Co.		66,804			2,821,801
Electric – 14.2%
Ameren Corp.		121,672			3,173,206
American Electric Power Co., Inc.		83,459			2,852,629
Consolidated Edison, Inc.		69,068			3,076,289
DTE Energy Co.		70,829			3,158,973
Duke Energy Corp.		188,665			3,079,013
FirstEnergy Corp.		62,124			2,428,427
Progress Energy, Inc.		88,087			3,467,104
Southern Co.		92,730			3,074,927
Xcel Energy, Inc.(a)		127,081			2,694,117
Total Electric					27,004,685
Electrical Components & Equipment – 1.2%
Emerson Electric Co.		44,494			2,239,828
Environmental Control – 2.0%
Republic Services, Inc.		55,822			1,619,954
Waste Management, Inc.		61,393			2,113,761
Total Environmental Control					3,733,715
Food – 6.4%
ConAgra Foods, Inc.		93,569			2,345,775
H.J. Heinz Co.		53,430			2,436,942

Investments		Shares		Value
Kraft Foods, Inc. Class A		91,956		$	2,780,749
Sara Lee Corp.		175,345			2,442,556
Sysco Corp.		76,623			2,260,379
Total Food					12,266,401
Gas – 1.7%
Centerpoint Energy, Inc.		225,755			3,241,842
Healthcare-Products – 2.8%
Baxter International, Inc.		20,983			1,221,210
Becton Dickinson and Co.		14,860			1,169,928
Johnson & Johnson		27,560			1,796,912
Medtronic, Inc.		25,487			1,147,680
Total Healthcare-Products					5,335,730
Household Products/Wares – 1.1%
Kimberly-Clark Corp.		32,788			2,061,709
Iron/Steel – 1.0%
Nucor Corp.(a)		43,654			1,981,018
Machinery-Construction & Mining – 1.0%
Caterpillar, Inc.		29,356			1,845,025
Media – 1.7%
McGraw-Hill Cos., Inc. (The)		49,735			1,773,053
Time Warner, Inc.		46,771			1,462,529
Total Media					3,235,582
Mining – 1.2%
Southern Copper Corp.		37,211			1,178,473
Vulcan Materials Co.(a)		24,405			1,152,892
Total Mining					2,331,365
Miscellaneous Manufacturing – 2.2%
Eaton Corp.		28,545			2,162,854
Honeywell International, Inc.		45,525			2,060,917
Total Miscellaneous Manufacturing					4,223,771
Office/Business Equipment – 0.8%
Xerox Corp.		151,921			1,481,230
Oil & Gas – 6.2%
Chevron Corp.		25,786			1,955,352
ConocoPhillips		44,053			2,254,192
Exxon Mobil Corp.		18,654			1,249,445
Marathon Oil Corp.		54,051			1,710,174
Murphy Oil Corp.		18,728			1,052,326
Occidental Petroleum Corp.		12,029			1,016,932
Valero Energy Corp.		128,374			2,528,968
Total Oil & Gas					11,767,389
Oil & Gas Services – 0.8%
Smith International, Inc.		37,172			1,591,705
Pharmaceuticals – 7.0%
Abbott Laboratories		31,342			1,651,097
Bristol-Myers Squibb Co.		109,326			2,919,004
Cardinal Health, Inc.		38,213			1,376,814
Eli Lilly & Co.		85,472			3,095,796
Merck & Co., Inc.		65,054			2,429,767

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		33

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Dividend ex-Financials Fund (DTN)

March 31, 2010

  

 

 

Investments		Shares		Value
Pfizer, Inc.		111,812		$	1,917,576
Total Pharmaceuticals					13,390,054
Pipelines – 2.5%
Spectra Energy Corp.		147,169			3,315,717
Williams Cos., Inc. (The)		62,827			1,451,304
Total Pipelines					4,767,021
Retail – 4.7%
Home Depot, Inc.		66,107			2,138,561
J.C. Penney Co., Inc.(a)		59,383			1,910,351
Ltd. Brands, Inc.		111,192			2,737,547
McDonald’s Corp.		31,848			2,124,899
Total Retail					8,911,358
Semiconductors – 6.6%
Analog Devices, Inc.		50,622			1,458,926
Intel Corp.		96,858			2,156,059
Linear Technology Corp.		63,998			1,809,863
Maxim Integrated Products, Inc.(a)		130,543			2,531,229
Microchip Technology, Inc.(a)		103,796			2,922,895
Xilinx, Inc.		65,007			1,657,679
Total Semiconductors					12,536,651
Telecommunications – 9.7%
AT&T, Inc.		127,098			3,284,212
CenturyTel, Inc.		128,722			4,564,482
Harris Corp.		25,174			1,195,513
Qwest Communications International, Inc.		1,186,304			6,192,507
Verizon Communications, Inc.		105,226			3,264,111
Total Telecommunications					18,500,825
Toys/Games/Hobbies – 1.3%
Mattel, Inc.		111,107			2,526,573
Transportation – 1.1%
United Parcel Service, Inc. Class B		31,112			2,003,924
TOTAL COMMON STOCKS (Cost: $174,360,305)					189,523,661
SHORT-TERM INVESTMENT – 0.9%
MONEY MARKET FUND – 0.9%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $1,630,130)		1,630,130			1,630,130

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.1%
MONEY MARKET FUND – 7.1%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $13,501,109)(d)		13,501,109		$	13,501,109
TOTAL INVESTMENTS IN SECURITIES – 107.6% (Cost: $189,491,544)					204,654,900
Liabilities in Excess of Other Assets – (7.6)%					(14,378,079	)
NET ASSETS – 100.0%				$	190,276,821

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $13,190,115 and the total market value of the collateral held by the Fund was $13,501,109.

 

See Notes to Financial Statements.

 

34		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments

WisdomTree MidCap Dividend Fund (DON)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.3%
Apparel – 0.2%
Jones Apparel Group, Inc.		4,995		$	95,005
Wolverine World Wide, Inc.		4,994			145,625
Total Apparel					240,630
Banks – 4.1%
Associated Banc-Corp.		12,561			173,342
BancorpSouth, Inc.		15,615			327,290
Bank of Hawaii Corp.(a)		9,321			418,979
BOK Financial Corp.(a)		6,896			361,626
City National Corp.		2,745			148,148
Comerica, Inc.		5,606			213,252
Commerce Bancshares, Inc.		10,105			415,720
Cullen/Frost Bankers, Inc.(a)		10,417			581,269
East West Bancorp, Inc.		1,170			20,381
First Citizens BancShares, Inc. Class A		320			63,603
FirstMerit Corp.		13,928			300,427
Fulton Financial Corp.		12,910			131,553
Hancock Holding Co.		4,194			175,351
Huntington Bancshares, Inc.		40,403			216,964
Marshall & Ilsley Corp.		18,791			151,268
Prosperity Bancshares, Inc.		3,641			149,281
TCF Financial Corp.(a)		10,227			163,018
UMB Financial Corp.(a)		3,847			156,188
Valley National Bancorp(a)		40,698			625,528
Westamerica Bancorp.(a)		3,766			217,110
Zions Bancorp.(a)		2,074			45,255
Total Banks					5,055,553
Building Materials – 0.4%
Lennox International, Inc.		3,982			176,482
Martin Marietta Materials, Inc.(a)		3,977			332,279
Total Building Materials					508,761
Chemicals – 4.0%
Airgas, Inc.		6,236			396,734
Albemarle Corp.		6,359			271,084
Ashland, Inc.		2,744			144,801
Cabot Corp.		9,142			277,917
Celanese Corp. Series A		3,639			115,902
CF Industries Holdings, Inc.		1,081			98,566
Cytec Industries, Inc.		511			23,884
Eastman Chemical Co.		10,885			693,157
FMC Corp.		3,191			193,183
Huntsman Corp.		43,903			529,031
International Flavors & Fragrances, Inc.		9,636			459,348
NewMarket Corp.		971			100,003
Olin Corp.		17,658			346,450
RPM International, Inc.		26,613			567,922
Terra Industries, Inc.		6,125			280,280
Valspar Corp.		10,943			322,600
Westlake Chemical Corp.		2,960			76,338
Total Chemicals					4,897,200

Investments		Shares		Value
Coal – 0.5%
Arch Coal, Inc.		13,793		$	315,170
Massey Energy Co.		2,684			140,346
Walter Energy, Inc.		1,536			141,727
Total Coal					597,243
Commercial Services – 3.9%
Aaron’s, Inc.(a)		572			19,070
DeVry, Inc.		1,167			76,088
Equifax, Inc.(a)		3,295			117,961
Global Payments, Inc.		617			28,104
Interactive Data Corp.		14,982			479,424
Lender Processing Services, Inc.		4,542			171,461
Manpower, Inc.		5,326			304,221
Pharmaceutical Product Development, Inc.		16,042			380,998
R.R. Donnelley & Sons Co.		49,178			1,049,950
Robert Half International, Inc.(a)		13,661			415,704
Rollins, Inc.		7,427			161,017
SEI Investments Co.		8,773			192,743
Service Corp. International		26,292			241,361
Strayer Education, Inc.(a)		978			238,163
Total System Services, Inc.		15,676			245,486
Towers Watson & Co. Class A		1,344			63,840
Washington Post Co. (The) Class B		784			348,237
Weight Watchers International, Inc.(a)		9,371			239,242
Total Commercial Services					4,773,070
Computers – 0.5%
Diebold, Inc.(a)		12,638			401,383
Jack Henry & Associates, Inc.		6,129			147,463
Syntel, Inc.(a)		1,336			51,396
Total Computers					600,242
Cosmetics/Personal Care – 0.1%
Alberto-Culver Co.		5,128			134,097
Distribution/Wholesale – 0.4%
Owens & Minor, Inc.		4,607			213,719
Watsco, Inc.		5,326			302,943
Total Distribution/Wholesale					516,662
Diversified Financial Services – 1.6%
Eaton Vance Corp.		12,493			419,015
Federated Investors, Inc. Class B(a)		18,753			494,704
Greenhill & Co., Inc.		3,127			256,695
Janus Capital Group, Inc.		2,680			38,297
Legg Mason, Inc.		3,625			103,929
Raymond James Financial, Inc.(a)		11,404			304,943
Waddell & Reed Financial, Inc. Class A(a)		10,841			390,710
Total Diversified Financial Services					2,008,293
Electric – 12.1%
Allegheny Energy, Inc.		21,540			495,420
Alliant Energy Corp.		27,184			904,140
Cleco Corp.		10,021			266,057
CMS Energy Corp.(a)		36,893			570,366
DPL, Inc.		24,442			664,578

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		35

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Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Dividend Fund (DON)

March 31, 2010

  

 

 

Investments		Shares		Value
Great Plains Energy, Inc.		28,418		$	527,722
Hawaiian Electric Industries, Inc.(a)		27,645			620,630
IDACORP, Inc.		9,006			311,788
Integrys Energy Group, Inc.(a)		24,618			1,166,401
ITC Holdings Corp.		6,323			347,765
MDU Resources Group, Inc.		25,372			547,528
Northeast Utilities		31,921			882,296
NSTAR		24,053			851,957
NV Energy, Inc.		41,650			513,544
OGE Energy Corp.(a)		18,955			738,108
Ormat Technologies, Inc.		1,369			38,524
Pepco Holdings, Inc.		70,058			1,201,495
Pinnacle West Capital Corp.		28,527			1,076,324
Portland General Electric Co.		18,372			354,763
SCANA Corp.		30,673			1,152,998
TECO Energy, Inc.(a)		52,563			835,226
Westar Energy, Inc.		29,710			662,533
Total Electric					14,730,163
Electrical Components & Equipment – 0.9%
AMETEK, Inc.		3,287			136,279
Hubbell, Inc. Class B		7,889			397,842
Molex, Inc.(a)		14,144			295,044
Molex, Inc. Class A		12,718			224,473
Total Electrical Components & Equipment					1,053,638
Electronics – 1.2%
AVX Corp.		10,869			154,340
Brady Corp. Class A		5,727			178,224
Gentex Corp.(a)		17,321			336,374
Jabil Circuit, Inc.		20,676			334,744
National Instruments Corp.		6,273			209,205
PerkinElmer, Inc.		7,995			191,080
Woodward Governor Co.		3,206			102,528
Total Electronics					1,506,495
Engineering & Construction – 0.2%
KBR, Inc.		8,714			193,102
Entertainment – 0.9%
Cinemark Holdings, Inc.		29,246			536,372
Regal Entertainment Group Class A		34,515			606,428
Total Entertainment					1,142,800
Environmental Control – 0.1%
Nalco Holding Co.		3,966			96,493
Food – 2.2%
Corn Products International, Inc.		7,309			253,330
Del Monte Foods Co.		17,955			262,143
Flowers Foods, Inc.(a)		13,574			335,821
Lancaster Colony Corp.(a)		3,517			207,362
McCormick & Co., Inc.		17,096			655,803
Seaboard Corp.		13			16,888
SUPERVALU, Inc.		29,722			495,763
Tootsie Roll Industries, Inc.(a)		2,161			58,412
Tyson Foods, Inc. Class A		19,868			380,472
Total Food					2,665,994

Investments		Shares		Value
Forest Products & Paper – 1.3%
MeadWestvaco Corp.		28,470		$	727,409
Rayonier, Inc.		18,996			862,988
Total Forest Products & Paper					1,590,397
Gas – 5.1%
AGL Resources, Inc.		17,966			694,386
Atmos Energy Corp.		20,975			599,256
Energen Corp.		3,876			180,350
National Fuel Gas Co.		10,818			546,850
New Jersey Resources Corp.		6,827			256,422
Nicor, Inc.(a)		9,776			409,810
NiSource, Inc.		81,901			1,294,036
Piedmont Natural Gas Co., Inc.(a)		14,908			411,163
Southern Union Co.		16,914			429,108
UGI Corp.		17,757			471,271
Vectren Corp.(a)		22,075			545,694
WGL Holdings, Inc.		10,859			376,264
Total Gas					6,214,610
Hand/Machine Tools – 1.4%
Kennametal, Inc.(a)		7,314			205,670
Lincoln Electric Holdings, Inc.		4,310			234,162
Regal-Beloit Corp.		2,304			136,881
Snap-On, Inc.		8,524			369,430
Stanley Black & Decker, Inc.		13,507			775,437
Total Hand/Machine Tools					1,721,580
Healthcare-Products – 0.9%
Beckman Coulter, Inc.		3,811			239,331
Cooper Cos., Inc. (The)(a)		345			13,414
Hill-Rom Holdings, Inc.		5,600			152,376
STERIS Corp.		4,677			157,428
Techne Corp.		2,799			178,268
Teleflex, Inc.		5,072			324,963
Total Healthcare-Products					1,065,780
Healthcare-Services – 0.1%
Universal Health Services, Inc. Class B		2,908			102,042
Home Builders – 0.7%
D.R. Horton, Inc.(a)		23,057			290,518
Lennar Corp. Class A		9,808			168,796
Lennar Corp. Class B		2,541			35,447
MDC Holdings, Inc.		7,733			267,639
Thor Industries, Inc.		2,643			79,845
Total Home Builders					842,245
Household Products/Wares – 1.1%
Avery Dennison Corp.(a)		12,357			449,918
Church & Dwight Co., Inc.		3,329			222,877
Jarden Corp.		4,601			153,167
Scotts Miracle-Gro Co. (The) Class A		4,178			193,650
Tupperware Brands Corp.		6,890			332,236
Total Household Products/Wares					1,351,848

 

See Notes to Financial Statements.

 

36		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Dividend Fund (DON)

March 31, 2010

  

 

 

Investments		Shares		Value
Housewares – 0.3%
Newell Rubbermaid, Inc.		18,398		$	279,650
Toro Co.(a)		2,488			122,335
Total Housewares					401,985
Insurance – 7.6%
American Financial Group, Inc.		13,025			370,561
American National Insurance Co.(a)		3,553			403,408
Arthur J. Gallagher & Co.		29,518			724,667
Assurant, Inc.		11,703			402,349
Brown & Brown, Inc.		12,077			216,420
Cincinnati Financial Corp.		49,533			1,431,504
Erie Indemnity Co. Class A		11,638			501,947
Fidelity National Financial, Inc. Class A		50,622			750,218
First American Corp.		12,343			417,687
Hanover Insurance Group, Inc. (The)(a)		4,296			187,348
HCC Insurance Holdings, Inc.		11,068			305,477
Mercury General Corp.		16,603			725,883
Old Republic International Corp.		80,027			1,014,742
Protective Life Corp.		11,828			260,098
Reinsurance Group of America, Inc.		2,755			144,693
StanCorp Financial Group, Inc.		4,896			233,196
Torchmark Corp.		5,693			304,632
Transatlantic Holdings, Inc.		5,142			271,498
Unitrin, Inc.		11,674			327,456
W.R. Berkley Corp.(a)		8,077			210,729
Wesco Financial Corp.		161			62,065
Total Insurance					9,266,578
Investment Companies – 1.0%
Apollo Investment Corp.(a)		97,668			1,243,314
Iron/Steel – 0.9%
AK Steel Holding Corp.		5,288			120,884
Allegheny Technologies, Inc.(a)		8,762			473,060
Reliance Steel & Aluminum Co.		3,428			168,760
Steel Dynamics, Inc.		18,572			324,453
Total Iron/Steel					1,087,157
Leisure Time – 0.2%
Polaris Industries, Inc.(a)		5,823			297,905
Lodging – 0.3%
Choice Hotels International, Inc.(a)		6,820			237,404
Wyndham Worldwide Corp.		6,655			171,233
Total Lodging					408,637
Machinery-Construction & Mining – 0.0%
Bucyrus International, Inc.		743			49,031
Machinery-Diversified – 0.5%
Gardner Denver, Inc.		1,211			53,332
Graco, Inc.		7,785			249,120
IDEX Corp.		6,127			202,804
Nordson Corp.		2,221			150,850
Wabtec Corp.		237			9,983
Total Machinery-Diversified					666,089

Investments		Shares		Value
Media – 0.5%
FactSet Research Systems, Inc.(a)		2,859		$	209,765
Gannett Co., Inc.(a)		14,017			231,561
John Wiley & Sons, Inc. Class A		3,156			136,591
Total Media					577,917
Metal Fabricate/Hardware – 0.4%
Commercial Metals Co.(a)		16,071			242,029
Timken Co.		7,360			220,874
Valmont Industries, Inc.		960			79,517
Total Metal Fabricate/Hardware					542,420
Mining – 0.3%
Compass Minerals International, Inc.		3,477			278,960
Royal Gold, Inc.		1,444			66,727
Total Mining					345,687
Miscellaneous Manufacturing – 3.0%
A.O. Smith Corp.		2,142			112,605
Acuity Brands, Inc.		3,197			134,945
Aptargroup, Inc.		5,646			222,170
Carlisle Cos., Inc.		5,792			220,675
CLARCOR, Inc.		2,951			101,780
Crane Co.		7,541			267,706
Donaldson Co., Inc.		4,126			186,165
Harsco Corp.		10,402			332,240
Leggett & Platt, Inc.		39,462			853,958
Pall Corp.		9,673			391,660
Pentair, Inc.		11,086			394,883
SPX Corp.		4,491			297,843
Trinity Industries, Inc.(a)		6,922			138,163
Total Miscellaneous Manufacturing					3,654,793
Office/Business Equipment – 1.3%
Pitney Bowes, Inc.(a)		65,045			1,590,350
Oil & Gas – 0.8%
Cabot Oil & Gas Corp.		1,478			54,390
Cimarex Energy Co.		1,999			118,701
EXCO Resources, Inc.		4,796			88,150
Helmerich & Payne, Inc.		2,671			101,712
Patterson-UTI Energy, Inc.		10,199			142,480
St. Mary Land & Exploration Co.		890			30,981
Sunoco, Inc.		13,532			402,036
Total Oil & Gas					938,450
Oil & Gas Services – 0.1%
CARBO Ceramics, Inc.(a)		1,290			80,419
Packaging & Containers – 2.3%
Ball Corp.		3,586			191,421
Bemis Co., Inc.		16,059			461,214
Greif, Inc. Class A		3,499			192,165
Greif, Inc. Class B(a)		5,586			289,522
Packaging Corp. of America(a)		13,400			329,774
Rock-Tenn Co. Class A		2,236			101,895
Sealed Air Corp.		17,546			369,870
Silgan Holdings, Inc.		2,609			157,140

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		37

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Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Dividend Fund (DON)

March 31, 2010

  

 

 

Investments		Shares		Value
Sonoco Products Co.		18,299		$	563,426
Temple-Inland, Inc.		9,705			198,273
Total Packaging & Containers					2,854,700
Pharmaceuticals – 0.2%
Medicis Pharmaceutical Corp. Class A		1,728			43,476
Omnicare, Inc.		2,181			61,700
Perrigo Co.		2,973			174,575
Total Pharmaceuticals					279,751
Pipelines – 0.8%
Oneok, Inc.		20,653			942,809
Real Estate – 0.0%
Jones Lang LaSalle, Inc.		701			51,096
REITS – 19.4%
Alexandria Real Estate Equities, Inc.		4,987			337,121
AMB Property Corp.(a)		32,241			878,245
American Campus Communities, Inc.		12,396			342,873
Apartment Investment & Management Co. Class A		15,606			287,306
BioMed Realty Trust, Inc.		13,520			223,621
BRE Properties, Inc.		12,663			452,702
Camden Property Trust		14,541			605,342
Corporate Office Properties Trust SBI MD(a)		12,440			499,217
Developers Diversified Realty Corp.		8,463			102,995
Digital Realty Trust, Inc.(a)		14,260			772,892
Douglas Emmett, Inc.		17,440			268,053
Duke Realty Corp.		64,554			800,470
Entertainment Properties Trust(a)		15,854			652,075
Equity Lifestyle Properties, Inc.		3,618			194,938
Equity One, Inc.(a)		23,214			438,513
Essex Property Trust, Inc.		7,068			635,767
Federal Realty Investment Trust		12,249			891,850
Healthcare Realty Trust, Inc.		21,080			490,953
Highwoods Properties, Inc.		18,201			577,518
Home Properties, Inc.(a)		10,049			470,293
HRPT Properties Trust		85,758			667,197
Kilroy Realty Corp.		9,807			302,448
Kimco Realty Corp.(a)		93,427			1,461,198
Liberty Property Trust(a)		32,664			1,108,616
Macerich Co. (The)(a)		35,048			1,342,689
Mack-Cali Realty Corp.		20,581			725,480
Mid-America Apartment Communities, Inc.(a)		7,447			385,680
National Retail Properties, Inc.(a)		29,515			673,827
Nationwide Health Properties, Inc.(a)		28,655			1,007,223
Omega Healthcare Investors, Inc.(a)		27,248			531,064
Realty Income Corp.(a)		32,644			1,001,844
Regency Centers Corp.		22,049			826,176
Senior Housing Properties Trust		41,105			910,476
SL Green Realty Corp.		3,208			183,722
Tanger Factory Outlet Centers(a)		7,647			330,045
Taubman Centers, Inc.(a)		12,660			505,387
UDR, Inc.		35,180			620,575
Washington Real Estate Investment Trust(a)		18,797			574,248

Investments		Shares		Value
Weingarten Realty Investors(a)		30,730		$	662,539
Total REITS					23,743,178
Retail – 4.6%
Abercrombie & Fitch Co. Class A		8,718			397,890
Advance Auto Parts, Inc.(a)		2,770			116,118
American Eagle Outfitters, Inc.		25,167			466,093
Barnes & Noble, Inc.(a)		15,346			331,780
Brinker International, Inc.		15,135			291,803
Burger King Holdings, Inc.		9,011			191,574
Casey’s General Stores, Inc.		2,840			89,176
Darden Restaurants, Inc.		19,962			889,107
Family Dollar Stores, Inc.		13,248			485,009
Foot Locker, Inc.		46,047			692,547
Guess ?, Inc.		5,420			254,632
MSC Industrial Direct Co. Class A(a)		3,749			190,149
Nu Skin Enterprises, Inc. Class A(a)		5,247			152,688
PetSmart, Inc.		8,881			283,837
Phillips-Van Heusen Corp.		931			53,402
RadioShack Corp.		7,952			179,954
Wendy’s/Arby’s Group, Inc. Class A		31,954			159,770
Williams-Sonoma, Inc.(a)		11,526			303,019
World Fuel Services Corp.(a)		1,705			45,421
Total Retail					5,573,969
Savings & Loans – 3.4%
Capitol Federal Financial(a)		23,918			895,968
First Niagara Financial Group, Inc.(a)		38,397			546,005
New York Community Bancorp, Inc.(a)		123,562			2,043,716
TFS Financial Corp.		35,777			477,623
Washington Federal, Inc.		6,221			126,411
Total Savings & Loans					4,089,723
Semiconductors – 0.5%
Intersil Corp. Class A		20,553			303,362
National Semiconductor Corp.		25,144			363,331
Total Semiconductors					666,693
Software – 0.8%
Broadridge Financial Solutions, Inc.		16,851			360,274
Dun & Bradstreet Corp.		4,243			315,764
Quality Systems, Inc.(a)		2,776			170,558
Solera Holdings, Inc.		2,312			89,359
Total Software					935,955
Telecommunications – 3.2%
Frontier Communications Corp.(a)		207,029			1,540,296
Telephone & Data Systems, Inc.		3,221			109,031
Telephone & Data Systems, Inc. Special Shares		3,621			108,050
Windstream Corp.		196,419			2,139,003
Total Telecommunications					3,896,380
Textiles – 0.3%
Cintas Corp.(a)		11,976			336,406
Toys/Games/Hobbies – 0.6%
Hasbro, Inc.		17,498			669,823

 

See Notes to Financial Statements.

 

38		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments (concluded)

WisdomTree MidCap Dividend Fund (DON)

March 31, 2010

  

 

 

Investments		Shares		Value
Transportation – 1.0%
Con-way, Inc.		2,835		$	99,565
Heartland Express, Inc.		2,386			39,369
JB Hunt Transport Services, Inc.		8,298			297,732
Knight Transportation, Inc.		4,620			97,436
Landstar System, Inc.		1,158			48,613
Ryder System, Inc.		6,471			250,816
Tidewater, Inc.		5,494			259,702
Werner Enterprises, Inc.(a)		3,537			81,952
Total Transportation					1,175,185
Trucking & Leasing – 0.2%
GATX Corp.		8,597			246,304
Water – 0.9%
American Water Works Co., Inc.		32,425			705,568
Aqua America, Inc.(a)		22,525			395,764
Total Water					1,101,332
TOTAL COMMON STOCKS (Cost: $111,590,728)					121,322,974
SHORT-TERM INVESTMENT – 1.1%
MONEY MARKET FUND – 1.1%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $1,395,858)		1,395,858			1,395,858
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 22.2%
MONEY MARKET FUND – 22.2%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $27,073,218)(d)		27,073,218			27,073,218
TOTAL INVESTMENTS IN SECURITIES – 122.6% (Cost: $140,059,804)					149,792,050
Liabilities in Excess of Cash and Other Assets – (22.6)%					(27,671,524	)
NET ASSETS – 100.0%				$	122,120,526

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $26,389,890 and the total market value of the collateral held by the Fund was $27,073,218.

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		39

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Table of Contents

Schedule of Investments

WisdomTree SmallCap Dividend Fund (DES)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.5%
Advertising – 0.3%
Harte-Hanks, Inc.		30,324		$	389,967
Marchex, Inc. Class B		7,149			36,531
Total Advertising					426,498
Aerospace/Defense – 0.6%
Cubic Corp.		2,092			75,312
Curtiss-Wright Corp.		8,093			281,636
Ducommun, Inc.		2,902			60,971
HEICO Corp.		509			26,244
HEICO Corp. Class A		976			38,728
Kaman Corp.		9,998			250,050
National Presto Industries, Inc.		1,125			133,774
Triumph Group, Inc.		898			62,941
Total Aerospace/Defense					929,656
Agriculture – 2.0%
Andersons, Inc. (The)		4,002			133,987
Griffin Land & Nurseries, Inc.		1,171			34,018
Universal Corp.(a)		17,217			907,164
Vector Group Ltd.(a)		131,085			2,022,641
Total Agriculture					3,097,810
Airlines – 0.1%
Skywest, Inc.		8,584			122,580
Apparel – 0.7%
Cherokee, Inc.(a)		18,280			329,040
Columbia Sportswear Co.(a)		10,524			552,826
Oxford Industries, Inc.		4,367			88,781
Weyco Group, Inc.		4,730			111,249
Total Apparel					1,081,896
Auto Parts & Equipment – 0.5%
Cooper Tire & Rubber Co.		21,824			415,093
Spartan Motors, Inc.		10,344			57,926
Superior Industries International, Inc.		17,603			283,056
Titan International, Inc.(a)		1,114			9,725
Total Auto Parts & Equipment					765,800
Banks – 14.2%
1st Source Corp.		16,358			287,083
Alliance Financial Corp.(a)		2,955			87,113
American National Bankshares, Inc.(a)		4,431			89,285
Arrow Financial Corp.		7,317			196,754
Bancfirst Corp.		6,215			260,471
Bancorp Rhode Island, Inc.		2,017			55,165
Bank Mutual Corp.		30,572			198,718
Bank of Kentucky Financial Corp.(a)		2,540			50,648
Bank of Marin Bancorp		1,531			50,646
Bank of the Ozarks, Inc.		5,526			194,460
Boston Private Financial Holdings, Inc.		8,409			61,974
Bridge Bancorp, Inc.(a)		3,991			93,389
Bryn Mawr Bank Corp.		5,396			97,937
Camden National Corp.		3,975			127,637
Capital City Bank Group, Inc.(a)		16,327			232,660

Investments		Shares		Value
CapitalSource, Inc.		56,738		$	317,165
Cardinal Financial Corp.		2,400			25,632
Cass Information Systems, Inc.(a)		2,839			88,435
Cathay General Bancorp(a)		5,294			61,675
Center Bancorp, Inc.(a)		2,862			23,783
Centerstate Banks, Inc.		1,718			21,046
Century Bancorp, Inc. Class A(a)		1,461			28,051
Chemical Financial Corp.(a)		19,739			466,235
Citizens Holding Co.(a)		2,816			69,499
City Holding Co.(a)		11,472			393,375
CNB Financial Corp.(a)		6,044			93,319
CoBiz Financial, Inc.(a)		5,434			33,854
Columbia Banking System, Inc.(a)		1,327			26,951
Community Bank System, Inc.(a)		24,719			563,099
Community Trust Bancorp, Inc.		12,915			349,867
CVB Financial Corp.(a)		73,412			728,981
Financial Institutions, Inc.		6,497			94,986
First Bancorp		6,377			86,217
First Bancorp, Inc.(a)		8,144			129,815
First Busey Corp.(a)		41,117			181,737
First Commonwealth Financial Corp.		37,244			249,907
First Community Bancshares, Inc.		10,214			126,347
First Financial Bancorp		23,512			418,278
First Financial Bankshares, Inc.(a)		8,835			455,444
First Financial Corp.(a)		6,304			182,564
First Merchants Corp.(a)		21,088			146,773
First Midwest Bancorp, Inc.		3,533			47,872
FNB Corp.		133,820			1,085,280
German American Bancorp, Inc.		6,353			96,121
Glacier Bancorp, Inc.		40,666			619,343
Great Southern Bancorp, Inc.(a)		7,781			174,606
Heartland Financial USA, Inc.(a)		7,391			118,034
Home Bancshares, Inc.		4,221			111,603
Hudson Valley Holding Corp.		7,709			186,558
Iberiabank Corp.		8,636			518,246
Independent Bank Corp.(a)		11,932			294,243
International Bancshares Corp.		22,110			508,309
Lakeland Bancorp, Inc.(a)		13,207			116,882
Lakeland Financial Corp.		9,354			178,194
MainSource Financial Group, Inc.		2,927			19,699
MB Financial, Inc.		1,985			44,722
Merchants Bancshares, Inc.		4,679			101,581
National Penn Bancshares, Inc.(a)		15,112			104,273
NBT Bancorp, Inc.(a)		22,573			515,793
Northrim BanCorp, Inc.		2,462			42,051
Old National Bancorp		33,739			403,181
Pacific Continental Corp.		1,119			11,750
PacWest Bancorp		1,234			28,160
Park National Corp.(a)		15,142			943,498
Peapack Gladstone Financial Corp.(a)		2,440			38,332
Penns Woods Bancorp, Inc.(a)		3,741			125,511
Porter Bancorp, Inc.		7,506			98,329
PrivateBancorp, Inc.		5,170			70,829
Renasant Corp.(a)		17,776			287,616

 

See Notes to Financial Statements.

 

40		WisdomTree Domestic Dividend Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Dividend Fund (DES)

March 31, 2010

  

 

 

Investments		Shares		Value
Republic Bancorp, Inc. Class A		8,354		$	157,389
S&T Bancorp, Inc.		16,732			349,699
S.Y. Bancorp, Inc.(a)		6,989			159,000
Sandy Spring Bancorp, Inc.		1,404			21,060
SCBT Financial Corp.		5,434			201,275
Shore Bancshares, Inc.		6,382			90,944
Simmons First National Corp. Class A(a)		7,937			218,823
Southside Bancshares, Inc.		6,868			148,143
Southwest Bancorp, Inc.		3,797			31,401
State Bancorp, Inc.		7,200			56,664
StellarOne Corp.(a)		6,517			87,132
Sterling Bancorp(a)		16,789			168,729
Sterling Bancshares, Inc.(a)		57,675			321,827
Suffolk Bancorp(a)		4,886			150,049
Susquehanna Bancshares, Inc.		9,998			98,080
Synovus Financial Corp.(a)		165,487			544,452
Tompkins Financial Corp.(a)		5,967			217,676
Tower Bancorp, Inc.		5,640			150,983
TowneBank(a)		10,857			151,564
Trico Bancshares(a)		8,155			162,285
TrustCo Bank Corp.(a)		50,480			311,462
Trustmark Corp.		39,985			976,834
Umpqua Holdings Corp.		23,063			305,815
Union First Market Bankshares Corp.		6,143			92,759
United Bankshares, Inc.(a)		44,824			1,175,285
Univest Corp. of Pennsylvania		12,504			233,700
Washington Banking Co.		2,329			29,322
Washington Trust Bancorp, Inc.(a)		14,980			279,227
Webster Financial Corp.(a)		4,146			72,514
WesBanco, Inc.		20,555			334,224
Whitney Holding Corp.		7,143			98,502
Wilmington Trust Corp.		3,752			62,171
Wilshire Bancorp, Inc.(a)		13,107			144,570
Wintrust Financial Corp.		2,552			94,960
Total Banks					22,036,111
Beverages – 0.2%
Coca-Cola Bottling Co. Consolidated		2,166			127,057
Farmer Bros Co.		6,651			124,640
Total Beverages					251,697
Building Materials – 0.9%
AAON, Inc.		5,331			120,587
Apogee Enterprises, Inc.		10,554			166,859
Comfort Systems USA, Inc.		10,228			127,748
Eagle Materials, Inc.		11,078			294,010
LSI Industries, Inc.		10,027			68,384
Quanex Building Products Corp.		4,406			72,831
Simpson Manufacturing Co., Inc.(a)		12,628			350,553
Texas Industries, Inc.(a)		3,962			135,382
Universal Forest Products, Inc.		3,386			130,429
Total Building Materials					1,466,783

Investments		Shares		Value
Chemicals – 2.5%
Aceto Corp.		15,967		$	96,441
American Vanguard Corp.		1,621			13,211
Arch Chemicals, Inc.		11,893			409,000
Balchem Corp.		1,604			39,539
H.B. Fuller Co.		9,868			229,036
Hawkins, Inc.(a)		4,464			108,029
Innophos Holdings, Inc.		10,858			302,938
KMG Chemicals, Inc.		893			15,699
Minerals Technologies, Inc.		1,148			59,512
Quaker Chemical Corp.		8,536			231,411
Schulman A., Inc.		13,207			323,175
Sensient Technologies Corp.		23,916			694,999
Stepan Co.		2,415			134,975
Valhi, Inc.(a)		60,543			1,191,486
Zep, Inc.		3,453			75,552
Total Chemicals					3,925,003
Commercial Services – 4.5%
ABM Industries, Inc.		22,130			469,156
Administaff, Inc.(a)		9,150			195,261
Advance America, Cash Advance Centers, Inc.		43,910			255,556
Arbitron, Inc.(a)		7,785			207,548
Barrett Business Services, Inc.(a)		4,669			63,312
CDI Corp.		12,713			186,373
Chemed Corp.		3,777			205,393
Corporate Executive Board Co. (The)		10,440			277,600
Deluxe Corp.		57,019			1,107,309
Diamond Management & Technology Consultants, Inc.		18,748			147,172
Electro Rent Corp.		20,488			269,007
Great Lakes Dredge & Dock Corp.		10,607			55,687
Healthcare Services Group, Inc.(a)		27,818			622,845
Heartland Payment Systems, Inc.		2,180			40,548
Heidrick & Struggles International, Inc.(a)		5,197			145,672
Hillenbrand, Inc.		40,976			901,062
Landauer, Inc.(a)		5,504			358,971
MAXIMUS, Inc.		2,975			181,267
McGrath Rentcorp		16,259			393,955
Monro Muffler, Inc.		2,804			100,271
Multi-Color Corp.		3,656			43,799
National Research Corp.		3,255			82,417
Sotheby’s(a)		9,833			305,708
Stewart Enterprises, Inc. Class A		37,292			233,075
Viad Corp.		2,710			55,690
Total Commercial Services					6,904,654
Computers – 0.2%
iGate Corp.		9,852			95,860
MTS Systems Corp.		5,927			172,061
Total Computers					267,921
Cosmetics/Personal Care – 0.1%
Inter Parfums, Inc.		5,777			85,615

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		41

---

Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Dividend Fund (DES)

March 31, 2010

  

 

 

Investments		Shares		Value
Distribution/Wholesale – 0.4%
Houston Wire & Cable Co.		8,467		$	98,048
Pool Corp.(a)		23,276			526,968
Total Distribution/Wholesale					625,016
Diversified Financial Services – 1.8%
BGC Partners, Inc. Class A		68,540			418,779
Calamos Asset Management, Inc. Class A		6,641			95,232
Cohen & Steers, Inc.(a)		7,015			175,094
Duff & Phelps Corp. Class A		4,888			81,825
Evercore Partners, Inc. Class A		5,078			152,340
GAMCO Investors, Inc. Class A(a)		400			18,200
GFI Group, Inc.		85,273			492,878
JMP Group, Inc.		1,525			12,963
MarketAxess Holdings, Inc.		10,897			171,410
Nelnet, Inc. Class A		10,244			190,129
Oppenheimer Holdings, Inc. Class A		3,093			78,902
Sanders Morris Harris Group, Inc.		16,580			102,630
Student Loan Corp. (The)		10,723			380,988
SWS Group, Inc.		14,207			163,807
US Global Investors, Inc. Class A		3,899			38,561
Westwood Holdings Group, Inc.		4,600			169,280
Total Diversified Financial Services					2,743,018
Electric – 5.7%
ALLETE, Inc.		30,518			1,021,742
Avista Corp.		35,421			733,569
Black Hills Corp.		34,738			1,054,298
Central Vermont Public Service Corp.		8,893			179,372
CH Energy Group, Inc.		13,783			562,898
Empire District Electric Co. (The)		41,343			745,001
MGE Energy, Inc.(a)		15,778			557,910
NorthWestern Corp.(a)		30,590			820,118
Otter Tail Corp.(a)		29,380			645,185
PNM Resources, Inc.		56,928			713,308
UIL Holdings Corp.		31,294			860,585
Unisource Energy Corp.		21,574			678,286
Unitil Corp.		10,779			250,612
Total Electric					8,822,884
Electrical Components & Equipment – 0.2%
Belden, Inc.		7,165			196,751
Encore Wire Corp.		1,269			26,395
Graham Corp.		608			10,938
Insteel Industries, Inc.(a)		2,489			26,607
Total Electrical Components & Equipment					260,691
Electronics – 0.8%
American Science & Engineering, Inc.		1,674			125,416
Analogic Corp.(a)		2,326			99,390
Badger Meter, Inc.(a)		3,004			115,684
Bel Fuse, Inc. Class B		2,238			45,096
CTS Corp.(a)		7,768			73,175
Daktronics, Inc.		7,112			54,193
Methode Electronics, Inc.		20,758			205,504
Park Electrochemical Corp.		5,552			159,564

Investments		Shares		Value
Technitrol, Inc.		16,088		$	84,945
Watts Water Technologies, Inc. Class A		6,706			208,288
Total Electronics					1,171,255
Engineering & Construction – 0.2%
Granite Construction, Inc.		10,345			312,626
VSE Corp.		394			16,217
Total Engineering & Construction					328,843
Entertainment – 0.6%
Churchill Downs, Inc.		3,160			118,500
Dover Downs Gaming & Entertainment, Inc.		14,409			57,059
International Speedway Corp. Class A		2,279			58,730
National CineMedia, Inc.		30,341			523,686
Speedway Motorsports, Inc.		15,347			239,567
Total Entertainment					997,542
Environmental Control – 0.6%
EnergySolutions, Inc.		17,131			110,152
Met-Pro Corp.		6,113			59,908
Mine Safety Appliances Co.(a)		21,648			605,278
U.S. Ecology, Inc.		13,337			214,726
Total Environmental Control					990,064
Food – 2.0%
Arden Group, Inc. Class A		565			60,048
B&G Foods, Inc. Class A		57,819			605,943
Calavo Growers, Inc.(a)		7,561			137,913
Diamond Foods, Inc.(a)		1,517			63,775
Imperial Sugar Co.		1,174			18,209
Ingles Markets, Inc. Class A		9,110			136,923
J&J Snack Foods Corp.		3,127			135,931
Lance, Inc.		13,792			319,009
Nash Finch Co.		4,252			143,080
Ruddick Corp.(a)		15,652			495,229
Sanderson Farms, Inc.(a)		4,844			259,687
Spartan Stores, Inc.		5,339			76,988
Village Super Market, Inc. Class A		3,915			109,737
Weis Markets, Inc.(a)		14,915			542,309
Total Food					3,104,781
Forest Products & Paper – 1.4%
Deltic Timber Corp.		1,337			58,895
Glatfelter		23,269			337,168
Neenah Paper, Inc.		7,591			120,241
Potlatch Corp.(a)		43,129			1,511,240
Schweitzer-Mauduit International, Inc.		2,630			125,083
Total Forest Products & Paper					2,152,627
Gas – 1.9%
Chesapeake Utilities Corp.		4,559			135,858
Laclede Group, Inc. (The)		17,175			579,141
Northwest Natural Gas Co.(a)		16,398			764,147
South Jersey Industries, Inc.		17,258			724,664
Southwest Gas Corp.		24,784			741,537
Total Gas					2,945,347

 

See Notes to Financial Statements.

 

42		WisdomTree Domestic Dividend Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Dividend Fund (DES)

March 31, 2010

  

 

 

Investments		Shares		Value
Hand/Machine Tools – 0.6%
Baldor Electric Co.		19,117		$	714,976
Franklin Electric Co., Inc.		6,761			202,762
Total Hand/Machine Tools					917,738
Healthcare-Products – 0.6%
Atrion Corp.		330			47,203
Invacare Corp.		1,043			27,681
Meridian Bioscience, Inc.		21,531			438,587
Utah Medical Products, Inc.		1,884			52,997
West Pharmaceutical Services, Inc.		9,053			379,773
Young Innovations, Inc.		845			23,795
Total Healthcare-Products					970,036
Healthcare-Services – 0.2%
America Service Group, Inc.		2,120			34,111
Ensign Group, Inc. (The)		4,126			71,503
National Healthcare Corp.		6,821			241,327
Total Healthcare-Services					346,941
Holding Companies-Diversified – 0.7%
Compass Diversified Holdings		69,430			1,059,502
Primoris Services Corp.(a)		6,611			51,169
Total Holding Companies-Diversified					1,110,671
Home Builders – 0.4%
KB Home		28,259			473,338
Ryland Group, Inc.		4,863			109,126
Skyline Corp.		5,871			109,201
Total Home Builders					691,665
Home Furnishings – 0.3%
American Woodmark Corp.(a)		4,205			81,535
Ethan Allen Interiors, Inc.		7,561			155,984
Hooker Furniture Corp.		5,515			88,681
Kimball International, Inc. Class B		11,178			77,687
Total Home Furnishings					403,887
Household Products/Wares – 0.7%
American Greetings Corp. Class A		13,125			273,525
Blyth, Inc.		1,048			32,750
CSS Industries, Inc.		5,268			105,887
Ennis, Inc.		18,220			296,439
Oil-Dri Corp. of America		3,360			64,949
Standard Register Co. (The)		15,267			81,679
WD-40 Co.		8,669			284,603
Total Household Products/Wares					1,139,832
Insurance – 4.9%
American Equity Investment Life Holding Co.		11,147			118,716
American Physicians Capital, Inc.		2,111			67,446
Amtrust Financial Services, Inc.		19,918			277,856
Baldwin & Lyons, Inc. Class B		8,241			198,526
Delphi Financial Group, Inc. Class A		14,765			371,487
Donegal Group, Inc. Class A		10,028			145,506
EMC Insurance Group, Inc.		7,452			167,819
Employers Holdings, Inc.		12,307			182,759
FBL Financial Group, Inc. Class A		6,693			163,845

Investments		Shares		Value
First Mercury Financial Corp.		2,029		$	26,438
Harleysville Group, Inc.(a)		18,601			627,970
Horace Mann Educators Corp.		10,898			164,124
Infinity Property & Casualty Corp.		2,749			124,915
Life Partners Holdings, Inc.		12,023			266,550
Meadowbrook Insurance Group, Inc.		15,553			122,869
Mercer Insurance Group, Inc.		1,763			31,734
National Interstate Corp.(a)		5,197			107,630
National Western Life Insurance Co. Class A		120			22,122
NYMAGIC, Inc.		2,071			43,967
Presidential Life Corp.		12,262			122,252
Radian Group, Inc.(a)		2,166			33,876
RLI Corp.(a)		7,625			434,778
Safety Insurance Group, Inc.		11,005			414,558
Selective Insurance Group		27,978			464,435
State Auto Financial Corp.		22,011			395,097
Stewart Information Services Corp.		2,846			39,275
Tower Group, Inc.		9,137			202,567
United Fire & Casualty Co.		14,977			269,436
Universal Insurance Holdings, Inc.		67,063			339,339
Zenith National Insurance Corp.		42,278			1,620,093
Total Insurance					7,567,985
Internet – 1.2%
Earthlink, Inc.		122,781			1,048,550
Keynote Systems, Inc.		4,375			49,831
NutriSystem, Inc.(a)		11,905			212,028
United Online, Inc.		78,909			590,239
Total Internet					1,900,648
Investment Companies – 7.0%
Ares Capital Corp.(a)		215,548			3,198,733
BlackRock Kelso Capital Corp.		148,237			1,476,441
Capital Southwest Corp.		625			56,800
Fifth Street Finance Corp.(a)		64,775			752,038
Gladstone Capital Corp.(a)		37,740			445,332
Gladstone Investment Corp.(a)		37,491			224,196
Hercules Technology Growth Capital, Inc.(a)		71,073			752,663
Kohlberg Capital Corp.(a)		69,392			392,759
Main Street Capital Corp.(a)		16,579			258,798
Medallion Financial Corp.		27,943			222,426
MVC Capital, Inc.		17,825			241,885
NGP Capital Resources Co.		26,510			225,865
PennantPark Investment Corp.		48,825			505,827
Prospect Capital Corp.(a)		124,674			1,514,789
TICC Capital Corp.		47,273			311,529
Triangle Capital Corp.(a)		22,505			315,970
Total Investment Companies					10,896,051
Iron/Steel – 0.5%
Carpenter Technology Corp.		20,859			763,440
Schnitzer Steel Industries, Inc. Class A		508			26,685
Total Iron/Steel					790,125

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		43

---

Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Dividend Fund (DES)

March 31, 2010

  

 

 

Investments		Shares		Value
Leisure Time – 0.2%
Ambassadors Group, Inc.		6,173		$	68,212
Brunswick Corp.		6,690			106,839
Callaway Golf Co.		6,412			56,554
Total Leisure Time					231,605
Lodging – 0.4%
Ameristar Casinos, Inc.(a)		25,311			461,166
Marcus Corp.		9,493			123,314
Total Lodging					584,480
Machinery-Diversified – 1.6%
Alamo Group, Inc.		2,947			58,910
Albany International Corp. Class A		11,020			237,261
Applied Industrial Technologies, Inc.		19,370			481,344
Briggs & Stratton Corp.		20,104			392,028
Cascade Corp.		337			10,855
Cognex Corp.		7,928			146,589
Gorman-Rupp Co. (The)		4,102			104,355
Lindsay Corp.		1,786			73,958
Manitowoc Co., Inc. (The)		17,746			230,698
NACCO Industries, Inc. Class A		4,659			345,465
Robbins & Myers, Inc.		3,695			88,015
Tennant Co.		6,643			181,952
Twin Disc, Inc.		5,167			63,141
Total Machinery-Diversified					2,414,571
Media – 1.3%
Courier Corp.		12,751			210,519
Meredith Corp.		17,714			609,539
Primedia, Inc.		52,311			179,950
Scholastic Corp.		6,212			173,936
Value Line, Inc.		5,466			126,210
World Wrestling Entertainment, Inc. Class A		39,825			688,972
Total Media					1,989,126
Metal Fabricate/Hardware – 1.4%
Ampco-Pittsburgh Corp.		4,267			105,907
CIRCOR International, Inc.		1,700			56,457
Dynamic Materials Corp.		1,743			27,226
Haynes International, Inc.		5,535			196,659
Kaydon Corp.(a)		11,237			422,511
Lawson Products, Inc.		2,114			32,704
Mueller Industries, Inc.		10,227			273,981
Mueller Water Products, Inc. Class A		34,659			165,670
Olympic Steel, Inc.		502			16,390
Sun Hydraulics Corp.		3,717			96,568
Worthington Industries, Inc.		44,522			769,785
Total Metal Fabricate/Hardware					2,163,858
Mining – 0.4%
AMCOL International Corp.		12,970			352,784
Kaiser Aluminum Corp.		8,169			315,078
Total Mining					667,862

Investments		Shares		Value
Miscellaneous Manufacturing – 2.0%
Actuant Corp. Class A		2,497		$	48,816
Ameron International Corp.		3,000			188,670
Barnes Group, Inc.		18,265			355,254
Brink’s Co. (The)		12,848			362,699
ESCO Technologies, Inc.		3,803			120,973
Federal Signal Corp.(a)		32,333			291,320
FreightCar America, Inc.		2,399			57,960
John Bean Technologies Corp.		7,907			138,689
Koppers Holdings, Inc.		10,785			305,431
Matthews International Corp. Class A		4,168			147,964
Myers Industries, Inc.		15,831			165,909
NL Industries, Inc.		57,827			496,156
Raven Industries, Inc.		5,187			152,965
Standex International Corp.		2,062			53,138
Sturm Ruger & Co., Inc.(a)		11,806			141,554
Tredegar Corp.		6,326			108,048
Total Miscellaneous Manufacturing					3,135,546
Office Furnishings – 0.7%
Herman Miller, Inc.		5,168			93,334
HNI Corp.		23,042			613,608
Interface, Inc. Class A		1,443			16,710
Knoll, Inc.		6,547			73,654
Steelcase, Inc. Class A		34,436			222,801
Total Office Furnishings					1,020,107
Oil & Gas – 1.4%
Alon USA Energy, Inc.		18,118			131,355
Berry Petroleum Co. Class A		7,212			203,090
Delek US Holdings, Inc.		21,924			159,607
Holly Corp.(a)		20,402			569,420
Houston American Energy Corp.(a)		1,625			29,494
Panhandle Oil and Gas, Inc. Class A		1,583			37,406
Penn Virginia Corp.		7,973			195,338
W&T Offshore, Inc.(a)		12,827			107,747
Whiting USA Trust I		35,178			663,809
Total Oil & Gas					2,097,266
Oil & Gas Services – 0.4%
Gulf Island Fabrication, Inc.		436			9,483
Lufkin Industries, Inc.		3,587			283,911
RPC, Inc.		24,202			269,368
Total Oil & Gas Services					562,762
Real Estate – 0.0%
Consolidated-Tomoka Land Co.		533			16,795
REITS – 16.1%
Acadia Realty Trust		28,695			512,493
Agree Realty Corp.		11,696			267,371
Associated Estates Realty Corp.		18,057			249,006
Brandywine Realty Trust		79,427			969,804
CapLease, Inc.		39,430			218,836
CBL & Associates Properties, Inc.(a)		47,543			651,339
Cogdell Spencer, Inc.		51,151			378,517
Colonial Properties Trust		56,756			731,017

 

See Notes to Financial Statements.

 

44		WisdomTree Domestic Dividend Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Dividend Fund (DES)

March 31, 2010

  

 

 

Investments		Shares		Value
Cousins Properties, Inc.		26,671		$	221,636
DCT Industrial Trust, Inc.		204,670			1,070,424
EastGroup Properties, Inc.(a)		23,673			893,419
Education Realty Trust, Inc.		39,381			226,047
Extra Space Storage, Inc.		65,215			826,926
First Potomac Realty Trust		32,801			492,999
Franklin Street Properties Corp.(a)		70,963			1,023,996
Getty Realty Corp.(a)		34,435			805,779
Gladstone Commercial Corp.		16,418			237,240
Glimcher Realty Trust		171,340			868,694
Government Properties Income Trust		24,051			625,566
Hersha Hospitality Trust		71,398			369,842
Inland Real Estate Corp.(a)		103,860			950,319
Investors Real Estate Trust		90,498			816,292
Kite Realty Group Trust		60,924			288,171
LaSalle Hotel Properties		2,195			51,143
Lexington Realty Trust(a)		141,847			923,424
LTC Properties, Inc.		21,732			588,068
Medical Properties Trust, Inc.(a)		111,443			1,167,923
Mission West Properties, Inc.		30,672			211,023
Monmouth Real Estate Investment Corp. Class A		37,165			312,558
National Health Investors, Inc.		27,909			1,081,753
Parkway Properties, Inc.		23,465			440,673
Pennsylvania Real Estate Investment Trust(a)		55,771			695,464
Post Properties, Inc.		33,141			729,765
PS Business Parks, Inc.		14,226			759,668
Ramco-Gershenson Properties Trust		33,843			381,072
Saul Centers, Inc.		14,178			586,969
Sovran Self Storage, Inc.		23,373			814,783
Sun Communities, Inc.		40,549			1,021,835
Universal Health Realty Income Trust		15,261			539,324
Urstadt Biddle Properties, Inc.		7,739			110,049
Urstadt Biddle Properties, Inc. Class A(a)		19,017			300,659
U-Store-It Trust		21,250			153,000
Winthrop Realty Trust		24,509			295,088
Total REITS					24,859,974
Retail – 3.2%
bebe Stores, Inc.		23,101			205,599
Big 5 Sporting Goods Corp.		4,024			61,245
Bob Evans Farms, Inc.		12,974			401,026
Books-A-Million, Inc.		7,662			55,473
Brown Shoe Co., Inc.		19,810			306,659
Buckle, Inc. (The)(a)		22,068			811,220
Cash America International, Inc.		2,074			81,881
Cato Corp. (The) Class A		15,645			335,429
Christopher & Banks Corp.		20,164			161,312
CKE Restaurants, Inc.		26,037			288,230
Cracker Barrel Old Country Store, Inc.		7,900			366,402
Dillard’s, Inc. Class A		9,975			235,410
Finish Line, Inc. (The) Class A		10,862			177,268
Fred’s, Inc. Class A		8,510			101,950
Frisch’s Restaurants, Inc.		1,766			39,029
Men’s Wearhouse, Inc. (The)		11,408			273,107

Investments		Shares		Value
PEP Boys-Manny, Moe & Jack		13,123		$	131,886
PetMed Express, Inc.(a)		8,539			189,310
Pricesmart, Inc.		12,498			290,578
Regis Corp.		9,867			184,315
Sport Supply Group, Inc.		1,699			22,835
Stage Stores, Inc.		10,447			160,779
Total Retail					4,880,943
Savings & Loans – 4.1%
Abington Bancorp, Inc.		10,640			84,056
Astoria Financial Corp.(a)		70,842			1,027,209
BankFinancial Corp.		9,981			91,526
Berkshire Hills Bancorp, Inc.		7,590			139,125
Brookline Bancorp, Inc.		35,765			380,539
Brooklyn Federal Bancorp, Inc.(a)		9,304			78,154
Clifton Savings Bancorp, Inc.(a)		9,500			88,065
Danvers Bancorp, Inc.		2,215			30,633
Dime Community Bancshares		28,596			361,167
ESB Financial Corp.(a)		6,128			78,990
ESSA Bancorp, Inc.		3,996			50,110
First Financial Holdings, Inc.		4,148			62,469
First Financial Northwest, Inc.		16,289			111,254
Flushing Financial Corp.		24,338			308,119
Home Federal Bancorp, Inc.		4,598			66,717
Kearny Financial Corp.		23,082			240,745
NewAlliance Bancshares, Inc.(a)		41,653			525,661
Northfield Bancorp, Inc.		8,802			127,453
Northwest Bancshares, Inc.		62,897			738,411
OceanFirst Financial Corp.(a)		22,557			256,247
Oritani Financial Corp.		13,929			223,839
Provident Financial Services, Inc.		41,688			496,087
Provident New York Bancorp		19,210			182,111
Rockville Financial, Inc.		6,200			75,578
Roma Financial Corp.		13,446			168,613
United Financial Bancorp, Inc.		5,662			79,155
ViewPoint Financial Group		6,209			100,648
Westfield Financial, Inc.		12,577			115,583
WSFS Financial Corp.		2,263			88,257
Total Savings & Loans					6,376,521
Semiconductors – 0.2%
Cohu, Inc.		7,083			97,533
Micrel, Inc.		18,437			196,538
Power Integrations, Inc.		1,289			53,107
Richardson Electronics Ltd.		3,251			25,846
Total Semiconductors					373,024
Software – 1.0%
American Software, Inc. Class A		21,994			127,785
Blackbaud, Inc.		13,061			329,007
Bowne & Co., Inc.		20,766			231,749
Computer Programs & Systems, Inc.		5,881			229,829
Fair Isaac Corp.		3,213			81,417
Opnet Technologies, Inc.		10,047			161,958
Pegasystems, Inc.		2,344			86,728

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		45

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Table of Contents

Schedule of Investments (concluded)

WisdomTree SmallCap Dividend Fund (DES)

March 31, 2010

  

 

 

Investments		Shares		Value
QAD, Inc.*		8,614		$	45,224
Renaissance Learning, Inc.		13,014			211,217
Schawk, Inc.		1,372			24,874
Total Software					1,529,788
Telecommunications – 2.9%
Adtran, Inc.(a)		17,305			455,987
Alaska Communications Systems Group, Inc.(a)		78,856			640,311
Applied Signal Technology, Inc.		5,668			110,979
Atlantic Tele-Network, Inc.		3,914			175,856
Black Box Corp.		2,468			75,916
Consolidated Communications Holdings, Inc.(a)		47,972			909,549
HickoryTech Corp.		12,644			111,646
Iowa Telecommunications Services, Inc.		52,670			879,589
NTELOS Holdings Corp.		44,654			794,395
Plantronics, Inc.		6,599			206,417
Preformed Line Products Co.		1,603			61,154
Shenandoah Telecommunications Co.(a)		6,521			122,595
Total Telecommunications					4,544,394
Textiles – 0.1%
G&K Services, Inc. Class A		3,644			94,307
Unifirst Corp.		777			40,015
Total Textiles					134,322
Transportation – 1.6%
Alexander & Baldwin, Inc.(a)		25,500			842,775
Arkansas Best Corp.		8,144			243,343
Forward Air Corp.		5,554			146,070
Horizon Lines, Inc. Class A		41,267			224,493
International Shipholding Corp.		8,780			258,044
Overseas Shipholding Group, Inc.		17,726			695,391
Total Transportation					2,410,116
Trucking & Leasing – 0.0%
TAL International Group, Inc.		1,481			29,590
Water – 1.0%
American States Water Co.		9,336			323,959
Artesian Resources Corp. Class A		4,673			82,525
California Water Service Group(a)		11,222			422,059
Connecticut Water Service, Inc.		5,180			120,539
Middlesex Water Co.		9,540			162,657
SJW Corp.(a)		9,343			237,499
Southwest Water Co.		14,014			146,306
York Water Co.		7,398			101,723
Total Water					1,597,267
TOTAL COMMON STOCKS (Cost: $136,178,070)					153,859,588

Investments		Shares		Value
SHORT-TERM INVESTMENT – 1.1%
MONEY MARKET FUND – 1.1%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $1,741,818)		1,741,818		$	1,741,818
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 22.2%
MONEY MARKET FUND – 22.2%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $34,378,277)(d)		34,378,277			34,378,277
TOTAL INVESTMENTS IN SECURITIES – 122.8% (Cost: $172,298,165)					189,979,683
Liabilities in Excess of Other Assets – (22.8)%					(35,255,576	)
NET ASSETS – 100.0%				$	154,724,107

 

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $33,272,534 and the total market value of the collateral held by the Fund was $34,378,277.

 

See Notes to Financial Statements.

 

46		WisdomTree Domestic Dividend Funds

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Table of Contents

Statements of Assets and Liabilities

WisdomTree Domestic Dividend Funds

March 31, 2010

  

 

 

		WisdomTree Total Dividend Fund				WisdomTree Equity Income Fund				WisdomTree LargeCap Dividend Fund				WisdomTree Dividend ex- Financials Fund1				WisdomTree MidCap Dividend Fund				WisdomTree SmallCap Dividend Fund
ASSETS:
Investments, at cost		$	132,083,715			$	135,805,590			$	411,410,615			$	189,491,544			$	140,059,804			$	172,298,165
Investments in securities, at value (including securities on loan)2			139,608,329				133,555,642				427,500,793				204,654,900				149,792,050				189,979,683
Cash			—				—				—				—				1,387				—
Receivables:
Capital shares sold			2,153,465				—				—				—				—				—
Dividends and interest			310,988				458,768				924,818				639,333				343,613				566,272
Investment securities sold			—				577,284				—				—				—				—
Total Assets			142,072,782				134,591,694				428,425,611				205,294,233				150,137,050				190,545,955
LIABILITIES:
Due to custodian			435				—				1,578				—				—				—
Payables:
Collateral for securities on loan (Note 2)			6,000,048				10,348,083				12,882,104				13,501,109				27,073,218				34,378,277
Investment securities purchased			2,152,078				—				—				—				—				—
Distribution			918,385				1,296,750				2,635,102				1,455,773				903,809				1,393,862
Advisory fees (Note 3)			30,835				39,504				96,381				59,837				39,045				49,140
Service fees (Note 2)			485				457				1,515				693				452				569
Total Liabilities			9,102,266				11,684,794				15,616,680				15,017,412				28,016,524				35,821,848
NET ASSETS		$	132,970,516			$	122,906,900			$	412,808,931			$	190,276,821			$	122,120,526			$	154,724,107
NET ASSETS:
Paid-in capital		$	155,453,729			$	196,485,221			$	488,836,219			$	258,116,050			$	145,299,455			$	191,436,026
Undistributed net investment income			128,223				223,296				356,417				310,225				194,523				269,407
Accumulated net realized loss on investments			(30,136,050	)			(71,551,669	)			(92,473,883	)			(83,312,810	)			(33,105,698	)			(54,662,844	)
Net unrealized appreciation (depreciation) on investments			7,524,614				(2,249,948	)			16,090,178				15,163,356				9,732,246				17,681,518
NET ASSETS		$	132,970,516			$	122,906,900			$	412,808,931			$	190,276,821			$	122,120,526			$	154,724,107
Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)			3,100,000				3,500,000				9,700,000				4,450,000				2,650,000				3,650,000
Net asset value per share		$	42.89			$	35.12			$	42.56			$	42.76			$	46.08			$	42.39

 

1	This information reflects the investment objective and strategy of the WisdomTree Dividend Top 100 Fund through May 7, 2009 and the investment objective and strategy of the WisdomTree Dividend ex-Financials Fund thereafter.

 

2	Market values of securities on loan were as follows: $5,789,579, $10,045,550, $12,550,830, $13,190,115, $26,389,890 and $33,272,534, respectively (Note 2).

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		47

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Table of Contents

Statements of Operations

WisdomTree Domestic Dividend Funds

For the Year Ended March 31, 2010

  

 

 

		WisdomTree Total Dividend Fund				WisdomTree Equity Income Fund				WisdomTree LargeCap Dividend Fund				WisdomTree Dividend ex- Financials Fund1				WisdomTree MidCap Dividend Fund				WisdomTree SmallCap Dividend Fund
INVESTMENT INCOME:
Dividends		$	3,812,514			$	5,283,790			$	11,875,811			$	6,928,333			$	3,705,468			$	5,389,917
Interest			147				133				435				167				118				144
Securities lending income (Note 2)			12,503				18,181				19,137				11,895				42,827				105,051
Total investment income			3,825,164				5,302,104				11,895,383				6,940,395				3,748,413				5,495,112
EXPENSES:
Advisory fees (Note 3)			325,223				491,464				1,048,840				560,108				382,687				454,709
Service fees (Note 2)			5,111				5,691				16,482				6,486				4,431				5,265
Total expenses			330,334				497,155				1,065,322				566,594				387,118				459,974
Net investment income			3,494,830				4,804,949				10,830,061				6,373,801				3,361,295				5,035,138
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions			(11,106,166	)			(18,504,318	)			(34,914,696	)			(26,165,549	)			(7,506,687	)			(10,995,591	)
In-kind redemptions			3,398,690				10,220,290				14,938,267				14,082,552				12,198,654				17,117,359
Net realized gain (loss)			(7,707,476	)			(8,284,028	)			(19,976,429	)			(12,082,997	)			4,691,967				6,121,768
Net change in unrealized appreciation (depreciation)			48,824,215				59,598,462				146,328,209				73,563,002				45,170,197				53,786,910
Net realized and unrealized gain on investments			41,116,739				51,314,434				126,351,780				61,480,005				49,862,164				59,908,678
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$	44,611,569			$	56,119,383			$	137,181,841			$	67,853,806			$	53,223,459			$	64,943,816

 

1	This information reflects the investment objective and strategy of the WisdomTree Dividend Top 100 Fund through May 7, 2009 and the investment objective and strategy of the WisdomTree Dividend ex-Financials Fund thereafter.

 

See Notes to Financial Statements.

 

48		WisdomTree Domestic Dividend Funds

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Table of Contents

Statements of Changes in Net Assets

WisdomTree Domestic Dividend Funds

  

 

 

		WisdomTree Total Dividend Fund								WisdomTree Equity Income Fund								WisdomTree LargeCap Dividend Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	3,494,830			$	3,338,965			$	4,804,949			$	6,708,782			$	10,830,061			$	11,016,858
Net realized loss on investments			(7,707,476	)			(18,715,895	)			(8,284,028	)			(56,740,057	)			(19,976,429	)			(62,291,410	)
Net change in unrealized appreciation (depreciation) on investments			48,824,215				(29,166,740	)			59,598,462				(29,209,022	)			146,328,209				(97,231,533	)
Net increase (decrease) in net assets resulting from operations			44,611,569				(44,543,670	)			56,119,383				(79,240,297	)			137,181,841				(148,506,085	)
DIVIDENDS:
Net investment income			(3,446,970	)			(3,313,229	)			(4,721,943	)			(6,721,777	)			(10,722,974	)			(10,899,807	)
Total dividends			(3,446,970	)			(3,313,229	)			(4,721,943	)			(6,721,777	)			(10,722,974	)			(10,899,807	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			19,294,993				46,420,476				46,679,655				71,553,240				73,698,313				182,938,258
Cost of shares redeemed			(12,332,769	)			(1,790,616	)			(76,261,688	)			(23,158,766	)			(81,483,288	)			(37,775,980	)
Net increase (decrease) in net assets resulting from capital share transactions			6,962,224				44,629,860				(29,582,033	)			48,394,474				(7,784,975	)			145,162,278
Net Increase (Decrease) in Net Assets			48,126,823				(3,227,039	)			21,815,407				(37,567,600	)			118,673,892				(14,243,614	)
NET ASSETS:
Beginning of year		$	84,843,693			$	88,070,732			$	101,091,493			$	138,659,093			$	294,135,039			$	308,378,653
End of year		$	132,970,516			$	84,843,693			$	122,906,900			$	101,091,493			$	412,808,931			$	294,135,039
Undistributed net investment income included in net assets at end of year		$	128,223			$	82,946			$	223,296			$	146,102			$	356,417			$	249,330
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			2,900,000				1,700,000				4,400,000				2,900,000				9,850,000				5,850,000
Shares created			500,000				1,250,000				1,400,000				2,100,000				1,900,000				5,000,000
Shares redeemed			(300,000	)			(50,000	)			(2,300,000	)			(600,000	)			(2,050,000	)			(1,000,000	)
Shares outstanding, end of year			3,100,000				2,900,000				3,500,000				4,400,000				9,700,000				9,850,000

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		49

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Table of Contents

Statements of Changes in Net Assets

WisdomTree Domestic Dividend Funds

  

 

 

		WisdomTree Dividend ex-Financials Fund								WisdomTree MidCap Dividend Fund								WisdomTree SmallCap Dividend Fund
		For the Year Ended March 31, 20101				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	6,373,801			$	6,320,448			$	3,361,295			$	3,242,405			$	5,035,138			$	4,209,422
Net realized gain (loss) on investments			(12,082,997	)			(58,047,091	)			4,691,967				(23,657,089	)			6,121,768				(39,689,366	)
Net change in unrealized appreciation (depreciation) on investments			73,563,002				(23,355,640	)			45,170,197				(17,789,217	)			53,786,910				(15,137,758	)
Net increase (decrease) in net assets resulting from operations			67,853,806				(75,082,283	)			53,223,459				(38,203,901	)			64,943,816				(50,617,702	)
DIVIDENDS:
Net investment income			(6,252,514	)			(6,316,346	)			(3,242,404	)			(3,290,596	)			(4,954,523	)			(4,219,124	)
Total dividends			(6,252,514	)			(6,316,346	)			(3,242,404	)			(3,290,596	)			(4,954,523	)			(4,219,124	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			97,666,183				119,876,634				60,079,949				66,272,249				71,158,842				47,165,978
Cost of shares redeemed			(73,267,291	)			(100,406,482	)			(53,595,618	)			(50,320,867	)			(49,793,228	)			—
Net increase in net assets resulting from capital share transactions			24,398,892				19,470,152				6,484,331				15,951,382				21,365,614				47,165,978
Net Increase (Decrease) in Net Assets			86,000,184				(61,928,477	)			56,465,386				(25,543,115	)			81,354,907				(7,670,848	)
NET ASSETS:
Beginning of year		$	104,276,637			$	166,205,114			$	65,655,140			$	91,198,255			$	73,369,200			$	81,040,048
End of year		$	190,276,821			$	104,276,637			$	122,120,526			$	65,655,140			$	154,724,107			$	73,369,200
Undistributed net investment income included in net assets at end of year		$	310,225			$	188,938			$	194,523			$	75,632			$	269,407			$	239,538
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			3,900,000				3,250,000				2,450,000				1,900,000				3,050,000				1,750,000
Shares created			2,400,000				2,900,000				1,600,000				1,700,000				1,950,000				1,300,000
Shares redeemed			(1,850,000	)			(2,250,000	)			(1,400,000	)			(1,150,000	)			(1,350,000	)			—
Shares outstanding, end of year			4,450,000				3,900,000				2,650,000				2,450,000				3,650,000				3,050,000

 

1	This information reflects the investment objective and strategy of the WisdomTree Dividend Top 100 Fund through May 7, 2009 and the investment objective and strategy of the WisdomTree Dividend ex-Financials Fund thereafter.

 

See Notes to Financial Statements.

 

50		WisdomTree Domestic Dividend Funds

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Table of Contents

Financial Highlights

WisdomTree Domestic Dividend Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Total Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	29.26			$	51.81			$	57.87			$	50.32
Investment operations:
Net investment income1			1.14				1.54				1.68				1.18
Net realized and unrealized gain (loss)			13.61				(22.56	)			(6.04	)			7.28
Total from investment operations			14.75				(21.02	)			(4.36	)			8.46
Dividends and distributions to shareholders:
Net investment income			(1.12	)			(1.53	)			(1.68	)			(0.91	)
Capital gains			—				—				(0.02	)			—
Total dividends and distributions to shareholders			(1.12	)			(1.53	)			(1.70	)			(0.91	)
Net asset value, end of period		$	42.89			$	29.26			$	51.81			$	57.87
TOTAL RETURN2			50.83	%			(41.29	)%			(7.77	)%			16.84	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	132,971			$	84,844			$	88,071			$	89,698
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.28	%			0.28	%			0.28	%			0.28	%3
Expenses, prior to expense reimbursements/waivers			0.28	%			0.28	%			0.28	%			0.31	%3
Net investment income			3.01	%			3.91	%			2.89	%			2.76	%3
Portfolio turnover rate4			16	%			23	%			10	%			12	%

 

WisdomTree Equity Income Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	22.98			$	47.81			$	57.99			$	50.01
Investment operations:
Net investment income1			1.17				1.95				2.22				1.56
Net realized and unrealized gain (loss)			12.16				(24.80	)			(10.19	)			7.54
Total from investment operations			13.33				(22.85	)			(7.97	)			9.10
Dividends to shareholders:
Net investment income			(1.19	)			(1.98	)			(2.21	)			(1.12	)
Total dividends to shareholders			(1.19	)			(1.98	)			(2.21	)			(1.12	)
Net asset value, end of period		$	35.12			$	22.98			$	47.81			$	57.99
TOTAL RETURN2			58.47	%			(49.06	)%			(14.18	)%			18.23	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	122,907			$	101,091			$	138,659			$	205,874
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.38	%3
Expenses, prior to expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.40	%3
Net investment income			3.72	%			5.59	%			3.88	%			3.68	%3
Portfolio turnover rate4			25	%			45	%			19	%			11	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		51

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Table of Contents

Financial Highlights

WisdomTree Domestic Dividend Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree LargeCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	29.86			$	52.71			$	57.97			$	50.34
Investment operations:
Net investment income1			1.10				1.51				1.60				1.11
Net realized and unrealized gain (loss)			12.69				(22.91	)			(5.21	)			7.32
Total from investment operations			13.79				(21.40	)			(3.61	)			8.43
Dividends to shareholders:
Net investment income			(1.09	)			(1.45	)			(1.65	)			(0.80	)
Total dividends to shareholders			(1.09	)			(1.45	)			(1.65	)			(0.80	)
Net asset value, end of period		$	42.56			$	29.86			$	52.71			$	57.97
TOTAL RETURN2			46.53	%			(41.25	)%			(6.47	)%			16.77	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	412,809			$	294,135			$	308,379			$	333,339
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.28	%			0.28	%			0.28	%			0.28	%3
Expenses, prior to expense reimbursements/waivers			0.28	%			0.28	%			0.28	%			0.29	%3
Net investment income			2.89	%			3.78	%			2.74	%			2.65	%3
Portfolio turnover rate4			17	%			25	%			8	%			13	%

 

WisdomTree Dividend ex-Financials Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	26.74			$	51.14			$	59.69			$	50.12
Investment operations:
Net investment income1			1.60				1.81				2.10				1.40
Net realized and unrealized gain (loss)			16.01				(24.34	)			(8.56	)			9.09
Total from investment operations			17.61				(22.53	)			(6.46	)			10.49
Dividends to shareholders:
Net investment income			(1.59	)			(1.87	)			(2.09	)			(0.92	)
Total dividends to shareholders			(1.59	)			(1.87	)			(2.09	)			(0.92	)
Net asset value, end of period		$	42.76			$	26.74			$	51.14			$	59.69
TOTAL RETURN2			66.66	%			(45.10	)%			(11.15	)%			20.99	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	190,277			$	104,277			$	166,205			$	188,009
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.38	%3
Expenses, prior to expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.40	%3
Net investment income			4.32	%			4.57	%			3.57	%			3.29	%3
Portfolio turnover rate4			57	%			53	%			16	%			21	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

52		WisdomTree Domestic Dividend Funds

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Table of Contents

Financial Highlights

WisdomTree Domestic Dividend Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree MidCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	26.80			$	48.00			$	58.02			$	50.21
Investment operations:
Net investment income1			1.29				1.63				1.88				1.45
Net realized and unrealized gain (loss)			19.22				(21.16	)			(10.12	)			7.41
Total from investment operations			20.51				(19.53	)			(8.24	)			8.86
Dividends and distributions to shareholders:
Net investment income			(1.23	)			(1.67	)			(1.78	)			(1.04	)
Capital gains			—				—				—				(0.01	)
Total dividends and distributions to shareholders			(1.23	)			(1.67	)			(1.78	)			(1.05	)
Net asset value, end of period		$	46.08			$	26.80			$	48.00			$	58.02
TOTAL RETURN2			77.34	%			(41.61	)%			(14.47	)%			17.71	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	122,121			$	65,655			$	91,198			$	78,333
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.38	%3
Expenses, prior to expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.43	%3
Net investment income			3.34	%			4.31	%			3.38	%			3.47	%3
Portfolio turnover rate4			11	%			43	%			30	%			12	%

 

WisdomTree SmallCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	24.06			$	46.31			$	57.41			$	50.24
Investment operations:
Net investment income1			1.49				1.85				2.13				1.79
Net realized and unrealized gain (loss)			18.28				(22.26	)			(11.10	)			6.65
Total from investment operations			19.77				(20.41	)			(8.97	)			8.44
Dividends to shareholders:
Net investment income			(1.44	)			(1.84	)			(2.13	)			(1.27	)
Total dividends to shareholders			(1.44	)			(1.84	)			(2.13	)			(1.27	)
Net asset value, end of period		$	42.39			$	24.06			$	46.31			$	57.41
TOTAL RETURN2			83.27	%			(45.27	)%			(15.93	)%			16.88	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	154,724			$	73,369			$	81,040			$	111,948
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.38	%3
Expenses, prior to expense reimbursements/waivers			0.38	%			0.38	%			0.38	%			0.42	%3
Net investment income			4.21	%			5.15	%			3.97	%			4.25	%3
Portfolio turnover rate4			16	%			65	%			34	%			16	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree Domestic Dividend Funds		53

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Table of Contents

Notes to Financial Statements

March 31, 2010

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust pursuant to a Trust Instrument dated December 15, 2005. As of March 31, 2010, the Trust offered 42 investment funds (each a “Fund”, collectively, the “Funds”). The Funds, described herein, commenced operations on June 16, 2006.

These financial statements relate only to the WisdomTree Total Dividend Fund (“Total Dividend Fund”), WisdomTree Equity Income Fund (“Equity Income Fund”), WisdomTree LargeCap Dividend Fund (“LargeCap Dividend Fund”), WisdomTree Dividend ex-Financials Fund (“Dividend ex-Financials Fund”), WisdomTree MidCap Dividend Fund (“MidCap Dividend Fund”) and WisdomTree SmallCap Dividend Fund (“SmallCap Dividend Fund”), together the “Domestic Dividend Funds.”

Each Fund seeks investment returns that closely correspond to the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“Wisdom Tree Investments”). Each Fund described herein is considered to be non-diversified.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) has become the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The Codification has superseded all existing non-SEC accounting and reporting standards.

Guarantees — In the normal course of business the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.

Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Investment Valuation — The Net Asset Value (“NAV”) of each Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. New York time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Securities traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the highest bid and lowest ask prices. Securities for which market quotations are not readily available are valued at fair value as determined by management and in accordance with procedures approved by the Board of Trustees. Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.

In certain instances, such as when reliable market valuations are not readily available or are not deemed to reflect current market values, a Fund’s investments will be valued in accordance with the Fund’s pricing policy and procedures. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV calculation time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). Price movements in U.S. markets that are deemed to affect the value of foreign securities, or reflect changes to the value of such securities, also may cause securities to be “fair valued.” When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities. Transactions in Fund shares will be priced at NAV only if you purchase or redeem shares directly from a Fund in Creation Units, which are typically in blocks of 50,000 shares or more. Fund shares are purchased and sold on national securities exchanges at market prices, which may be higher or lower than NAV. Each Fund may invest in money market funds, which are valued at NAV.

Fair Value Measurement — GAAP provides guidance on fair value measurements. This standard defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosure about fair value measurements.

 

54		WisdomTree Domestic Dividend Funds

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Table of Contents

Notes to Financial Statements (continued)

 

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which a Fund’s net asset value is computed and that may materially affect the value of the Fund’s investments).

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

The following is a summary of the inputs used as of March 31, 2010 in valuing the Fund’s assets carried at fair value:

 

Total Dividend Fund		Level 1			Level 2			Level 3
Investment in Securities
Common Stocks		$	132,316,398		$	—		$	—
Money Market Fund			—			7,291,931			—
Total		$	132,316,398		$	7,291,931		$	—

 

Equity Income Fund		Level 1			Level 2			Level 3
Investment in Securities
Common Stocks		$	122,440,821		$	—		$	—
Money Market Fund			—			11,114,821			—
Total		$	122,440,821		$	11,114,821		$	—

 

LargeCap Dividend Fund		Level 1			Level 2			Level 3
Investment in Securities
Common Stocks		$	411,198,513		$	—		$	—
Money Market Fund			—			16,302,280			—
Total		$	411,198,513		$	16,302,280		$	—

 

Dividend ex-Financials Fund		Level 1			Level 2			Level 3
Investment in Securities
Common Stocks		$	189,523,661		$	—		$	—
Money Market Fund			—			15,131,239			—
Total		$	189,523,661		$	15,131,239		$	—

 

MidCap Dividend Fund		Level 1			Level 2			Level 3
Investment in Securities
Common Stocks		$	121,322,974		$	—		$	—
Money Market Fund			—			28,469,076			—
Total		$	121,322,974		$	28,469,076		$	—

 

SmallCap Dividend Fund		Level 1			Level 2			Level 3
Investment in Securities
Common Stocks		$	153,859,588		$	—		$	—
Money Market Fund			—			36,120,095			—
Total		$	153,859,588		$	36,120,095		$	—

 

WisdomTree Domestic Dividend Funds		55

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Table of Contents

Notes to Financial Statements (continued)

 

In January 2010, FASB issued Accounting Standards Update (“ASU”) No. 2010-06 “Improving Disclosures about Fair Value Measurements.” ASU 2010-06 will require reporting entities to make new disclosures about amounts and reasons for significant transfers in and out of Level 1 and Level 2 fair value measurements as well as inputs and valuation techniques used to measure fair value for both recurring and nonrecurring fair value measurements that fall in either Level 2 or Level 3, and information on purchases, sales, issuances and settlements on a gross basis in the reconciliation of activity in Level 3 fair value measurements. The new and revised disclosures are required to be implemented for fiscal years beginning after December 15, 2009, except for the disclosures surrounding purchases, sales, issuances and settlements on a gross basis in the reconciliation of Level 3 fair value measurements, which are effective for fiscal years beginning after December 15, 2010. Management is currently evaluating the impact the adoption of ASU No. 2010-06 may have on the Fund’s financial statement disclosures.

Derivative and Hedging Disclosure — GAAP requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The application of this disclosure is effective for fiscal years beginning November 15, 2008 and interim periods within those fiscal years. The Funds did not invest in derivative instruments for the fiscal year ended March 31, 2010.

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income is recognized on the ex-dividend date. Interest income is accrued daily. The value of additional securities received as dividend payments is recorded as income and as an increase to the cost basis of such securities.

Expenses/Reimbursements — WisdomTree Asset Management (“WTAM”) has agreed to pay all expenses of the Funds, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s chief compliance officer; (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Pursuant to a separate contractual arrangement, WTAM has arranged for the provision of chief compliance officer (“CCO”) services to the Funds and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees, in exchange for a service fee paid by each Fund of up to 0.0044% of each Fund’s average daily net assets. Trustees fees, which are included in Service Fees on the Statements of Operations, of $361,436 were paid on behalf of the Funds to the Independent Trustees for the fiscal year ended March 31, 2010.

Security Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Fund’s policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high grade debt obligations, equivalent to at least 100% of the market value of securities is maintained at all times. The collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash or U.S. government securities held as collateral, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. The Funds retain all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults.

The securities lending income earned by the Funds is disclosed on the Statements of Operations.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments in which a Fund may invest include short-term obligations issued by the U.S. Government, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends, if any, to investors at least annually. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any,

 

56		WisdomTree Domestic Dividend Funds

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Table of Contents

Notes to Financial Statements (continued)

 

are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profit for tax purposes, are reported as a tax return of capital.

3. ADVISER FEES AND TRANSACTIONS

As investment adviser, WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM also arranges for sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services necessary for the Funds to operate. Under the Investment Advisory Agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except compensation and expenses of the Independent Trustees, counsel to the Independent Trustees and the Trust’s CCO, interest expenses and taxes, brokerage expenses and other expenses connected with the execution of portfolio transactions, any distribution fees or expenses, legal fees or expenses and extraordinary expenses.

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee of up to 0.0044%. As of October 1, 2009, WTAM provides CCO services to the Trust. The fees paid to WTAM for providing advisory services are listed below.

 

Fund		Fee Rate
Total Dividend Fund		0.28	%
Equity Income Fund		0.38	%
LargeCap Dividend Fund		0.28	%
Dividend ex-Financials Fund		0.38	%
MidCap Dividend Fund		0.38	%
SmallCap Dividend Fund		0.38	%

Each Fund may purchase shares of an affiliated exchange traded fund(s) in secondary market transactions. For the fiscal year ended March 31, 2010, there were no transactions in affiliated ETFs.

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2010, there was an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of equity securities constituting a portfolio sampling representation of the securities included in the relevant Fund’s underlying index and an amount of cash. Investors purchasing and redeeming Creation Units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding in-kind purchases and redemptions and short-term investments) for the fiscal year ended March 31, 2010 were as follows:

 

Fund		Purchases			Sales
Total Dividend Fund		$	26,726,298		$	18,752,233
Equity Income Fund			69,616,793			32,156,698
LargeCap Dividend Fund			86,152,923			64,318,289
Dividend ex-Financials Fund			127,740,179			82,487,307
MidCap Dividend Fund			45,352,101			11,127,806
SmallCap Dividend Fund			65,868,452			19,412,387

 

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Notes to Financial Statements (continued)

 

For the fiscal year ended March 31, 2010, the cost of in-kind purchases and the proceeds from in-kind redemptions were as follows:

 

Fund		Purchases			Sales
Total Dividend Fund		$	10,972,873		$	12,059,745
Equity Income Fund			8,493,702			74,813,247
LargeCap Dividend Fund			50,687,820			80,408,996
Dividend ex-Financials Fund			52,318,871			72,627,405
MidCap Dividend Fund			23,778,318			51,308,544
SmallCap Dividend Fund			24,553,994			48,995,908

Gains and losses on in-kind redemptions are not recognized at the Fund level for tax purposes.

6. FEDERAL INCOME TAXES

At March 31, 2010, the cost of investments (including securities on loan) for Federal income tax purposes was as follows:

 

Fund		Tax Cost			Gross Unrealized Appreciation			Gross Unrealized Depreciation				Net Unrealized Appreciation (Depreciation)
Total Dividend Fund		$	135,155,428		$	10,743,189		$	(6,290,288	)		$	4,452,901
Equity Income Fund*			138,570,030			6,692,112			(11,706,500	)			(5,014,388	)
LargeCap Dividend Fund			421,855,968			26,475,807			(20,830,982	)			5,644,825
Dividend ex-Financials Fund			192,012,157			17,252,525			(4,609,782	)			12,642,743
MidCap Dividend Fund			142,902,194			11,711,738			(4,821,882	)			6,889,856
SmallCap Dividend Fund*			176,074,541			20,286,892			(6,381,750	)			13,905,142

At March 31, 2010, the components of accumulated earnings/loss on a tax-basis were as follows:

 

Fund		Undistributed Ordinary Income and Other Ordinary  Losses			Undistributed Capital and Other Gains/(Losses)				Net Unrealized Appreciation (Depreciation)				Total Accumulated Earnings/(Losses)
Total Dividend Fund		$	128,223		$	(27,064,337	)		$	4,452,901			$	(22,483,213	)
Equity Income Fund			223,296			(68,779,688	)			(5,014,388	)			(73,570,780	)
LargeCap Dividend Fund			356,417			(82,028,530	)			5,644,825				(76,027,288	)
Dividend ex-Financials Fund			310,225			(80,792,197	)			12,642,743				(67,839,229	)
MidCap Dividend Fund			194,523			(30,263,308	)			6,889,856				(23,178,929	)
SmallCap Dividend Fund			269,407			(50,886,336	)			13,905,142				(36,711,787	)

The tax character of distributions paid during the years ended March 31, 2010 and March 31, 2009, was as follows:

 

		Year Ended March 31, 2010			Year Ended March 31, 2009
Fund		Distributions Paid from Ordinary Income**			Distributions Paid from Ordinary Income*
Total Dividend Fund		$	3,446,970		$	3,313,229
Equity Income Fund			4,721,943			6,721,777
LargeCap Dividend Fund			10,722,974			10,899,807
Dividend ex-Financials Fund			6,252,514			6,316,346
MidCap Dividend Fund			3,242,404			3,290,596
SmallCap Dividend Fund			4,954,523			4,219,124

*

The difference between book-basis and tax basis components of accumulated earnings/loss is attributable to tax refund receivable.

**

Includes short-term capital gains.

 

58		WisdomTree Domestic Dividend Funds

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Notes to Financial Statements (concluded)

 

At March 31, 2010, for Federal income tax purposes, the Funds have capital loss carryforwards available to offset future capital gains through the years indicated. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

Fund		Capital Loss Available Through 2015			Capital Loss Available Through 2016			Capital Loss Available Through 2017			Capital Loss Available Through 2018			Capital Loss Available Total
Total Dividend Fund		$	—		$	410,492		$	4,674,701		$	11,073,078		$	16,158,271
Equity Income Fund			4,934			1,261,567			9,481,659			36,880,803			47,628,963
LargeCap Dividend Fund			5,452			3,165,417			12,904,697			32,859,591			48,935,157
Dividend ex-Financials Fund			16,309			1,204,674			9,972,192			68,035,975			79,229,150
MidCap Dividend Fund			—			517,017			7,127,052			16,904,294			24,548,363
SmallCap Dividend Fund			44,705			774,464			10,100,965			32,761,958			43,682,092

Capital losses incurred after October 31 (“post-October capital losses”) and within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year.

During the year ended March 31, 2010, the following Funds incurred and will elect to defer net post-October losses as follows:

 

Fund		Post-October Capital Losses
Total Dividend Fund		$	(10,906,066	)
Equity Income Fund			(21,150,725	)
LargeCap Dividend Fund			(33,093,373	)
Dividend ex-Financials Fund			(1,563,047	)
MidCap Dividend Fund			(5,714,945	)
SmallCap Dividend Fund			(7,204,244	)

At March 31, 2010, the effect of permanent book/tax reclassifications resulted in increases (decreases) to the components of net assets as follows:

 

Fund		Undistributed Net Investment Income/(Loss)				Accumulated Net Realized Gain/(Loss)				Paid-in Capital
Total Dividend Fund		$	(2,583	)		$	(2,338,797	)		$	2,341,380
Equity Income Fund			(5,812	)			(4,825,609	)			4,831,421
LargeCap Dividend Fund			—				(7,512,866	)			7,512,866
Dividend ex-Financials Fund			—				(12,576,193	)			12,576,193
MidCap Dividend Fund			—				(10,961,560	)			10,961,560
SmallCap Dividend Fund			(50,746	)			(15,434,299	)			15,485,045

These differences are primarily due to redemptions-in-kind and the tax treatment of income earned from investments in partnerships.

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign taxes are provided for based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued and applied to net investment income, net realized capital gains and net unrealized appreciation, as applicable, as the income is earned or capital gains are recorded. As of and during the fiscal year ended March 31, 2010, the Funds did not have any liabilities for unrecognized tax benefits. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with U.S. Internal Revenue Service, New York, and various states. Generally, each of the tax years in the four year period ended March 31, 2010, remains subject to examination by taxing authorities.

7. SUBSEQUENT EVENT

In accordance with GAAP provisions, management of the Funds has evaluated the possibility of subsequent events existing in the Funds’ financial statements through the date the financial statements were issued. Management has determined that there are no material events that would require disclosure in the Funds’ financial statements.

 

WisdomTree Domestic Dividend Funds		59

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Report of Independent Registered Public Accounting Firm

 

The Board of Trustees and Shareholders of WisdomTree Trust:

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of WisdomTree Total Dividend Fund, WisdomTree Equity Income Fund, WisdomTree LargeCap Dividend Fund, WisdomTree Dividend ex-Financials Fund, WisdomTree MidCap Dividend Fund and WisdomTree SmallCap Dividend Fund (six of the investment funds constituting the WisdomTree Trust (the “Trust”)) as of March 31, 2010, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Trust’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Trust’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of March 31, 2010, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of WisdomTree Total Dividend Fund, WisdomTree Equity Income Fund, WisdomTree LargeCap Dividend Fund, WisdomTree Dividend ex-Financials Fund, WisdomTree MidCap Dividend Fund and WisdomTree SmallCap Dividend Fund of WisdomTree Trust at March 31, 2010, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the indicated periods, in conformity with U.S. generally accepted accounting principles.

New York, New York

May 26, 2010

 

60		WisdomTree Domestic Dividend Funds

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Approval of Investment Advisory and Sub-Advisory Agreement (unaudited)

 

Approval of Investment Advisory Agreement. The Trust and the Investment Adviser have entered into an investment advisory agreement covering each Fund discussed herein. At a meeting held on March 19, 2010, the Board of Trustees re-approved the Investment Advisory Agreement for each Fund. The Board reviewed and analyzed the factors it deemed relevant, including: (i) the nature, quality and extent of the services to be provided to the Funds by WTAM; (ii) the performance of the Funds; (iii) the costs of services to be provided and the profits to be realized by WTAM from its relationship with the Funds; (iv) the extent to which economies of scale would be realized as the Funds grow; (v) whether the fee levels reflect these economies of scale for the benefit of investors; and (vi) the fees charged by the Investment Adviser for non-registered funds.

The Board also considered the nature and quality of the services to be provided by WTAM to the Funds, recognizing WTAM’s operational capabilities and resources. The Board also noted the extensive responsibilities that WTAM has as investment adviser to the Funds, including the selection of the Funds’ Sub-Adviser and oversight of the Sub-Adviser’s compliance with Fund policies and objectives, oversight of general Fund compliance with federal and state laws, and the implementation of Board directives as they relate to the Funds.

The Board gave substantial consideration to the fees payable under the Advisory Agreement. In this connection, the Board evaluated WTAM’s anticipated costs and profitability in serving as investment adviser to the Funds, including the costs associated with the personnel, systems and equipment necessary to manage the Funds and the costs associated with compensating the Sub-Adviser. The Board also examined the fees to be paid by each Fund in light of fees paid to other investment managers by comparable funds and the method of computing each Fund’s fee. After comparing the fees with those of comparable funds and in light of the quality and extent of services to be provided and the costs anticipated to be incurred by WTAM, the Board concluded that the level of the fees paid to WTAM with respect to each Fund is fair and reasonable. The Board also re-approved the Sub-Advisory Agreement between WTAM and Mellon Capital Management (“MCM”), on behalf of each Fund, using essentially the same criteria it used in connection with the Advisory Agreement. The Board considered MCM’s operational capabilities and resources and MCM’s experience in serving as an adviser to ETFs, noting that MCM and Dreyfus currently provides investment advisory and management services to other ETFs. The Board considered the investment performance of the Funds, and the expertise and performance of the MCM personnel. The Board also noted that Bank of New York Mellon Corporation, an affiliate of MCM, serves as the Funds’ administrator, accountant, custodian, transfer agent and securities lending agent and receives compensation for acting in these capacities and is responsible for, among other things, coordinating the Funds’ audits, financial statements and tax returns, managing expenses and budgeting for the Funds, processing trades on behalf of each Fund and custodying Fund assets. As such, the Board concluded that the benefits accruing to MCM and its affiliates by virtue of their relationship to the Trust are reasonable and fair in comparison with the anticipated costs of providing the relevant services. The Board noted that WTAM, not the Funds, pays the fees to MCM under the Sub-Advisory Agreement for each Fund.

Based on these considerations and the overall high quality of the personnel, operations, financial condition, investment advisory capabilities, methodologies, and performance of WTAM and MCM, the Board determined that the re-approval of the Advisory Agreements and the Sub-Advisory Agreements was in the best interests of each Fund. After full consideration of these and other factors, the Board, including a majority of the Independent Trustees, with the assistance of independent counsel, approved the Advisory Agreements and Sub-Advisory Agreements.

 

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Frequency Distribution of Discounts & Premiums (unaudited)

 

The chart below presents information about differences between the per share net asset value (“NAV”) of each Fund and the market trading price of shares of each Fund. For these purposes, the “market price” is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. The term “premium” is sometimes used to describe a market price in excess of NAV and the term “discount” is sometimes used to describe a market price below NAV. The chart presents information about the size and frequency of premiums or discounts. As with other exchange traded funds, the market price of Fund shares is typically slightly higher or lower than the Fund’s per share NAV. Factors that contribute to the differences between market price and NAV include the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Differences between the closing times of the U.S. and non-U.S. markets may contribute to differences between the NAV and market price of Funds that invest in non-U.S. securities. Many non-U.S. markets close prior to the close of the U.S. securities exchanges. Developments after the close of such markets as a result of ongoing price discovery may be reflected in a Fund’s market price but not in it’s NAV (or vice versa).

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree Total Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		418		41.17	%		542		53.40	%
		25 – 49.9		23		2.27	%		12		1.18	%
		50 – 74.9		6		0.59	%		5		0.49	%
		75 – 99.9		3		0.30	%		0		0.00	%
		100 – 124.9		1		0.10	%		1		0.10	%
		125 – 174.9		1		0.10	%		0		0.00	%
		175 – 199.9		2		0.20	%		0		0.00	%
		200 – 249.9		0		0.00	%		0		0.00	%
		>250		1		0.10	%		0		0.00	%
		Total		455		44.83	%		560		55.17	%
WisdomTree Equity Income Fund
June 16, 2006 – March 31, 2010		0 – 24.9		383		37.72	%		566		55.76	%
		25 – 49.9		29		2.86	%		13		1.28	%
		50 – 74.9		5		0.49	%		5		0.49	%
		75 – 99.9		2		0.20	%		1		0.10	%
		100 – 124.9		2		0.20	%		1		0.10	%
		125 – 174.9		3		0.30	%		1		0.10	%
		175 – 199.9		0		0.00	%		0		0.00	%
		200 – 249.9		0		0.00	%		1		0.10	%
		>250		2		0.20	%		1		0.10	%
		Total		426		41.97	%		589		58.03	%
WisdomTree LargeCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		505		49.75	%		417		41.08	%
		25 – 49.9		42		4.14	%		17		1.67	%
		50 – 74.9		18		1.77	%		2		0.20	%
		75 – 99.9		2		0.20	%		0		0.00	%
		100 – 124.9		2		0.20	%		0		0.00	%
		125 – 174.9		1		0.10	%		1		0.10	%
		175 – 199.9		1		0.10	%		0		0.00	%
		200 – 249.9		0		0.00	%		0		0.00	%
		>250		5		0.49	%		2		0.20	%
		Total		576		56.75	%		439		43.25	%

 

62		WisdomTree Domestic Dividend Funds

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Frequency Distribution of Discounts & Premiums (unaudited)(concluded)

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree Dividend ex-Financials Fund
June 16, 2006 – March 31, 2010		0 – 24.9		465		45.81	%		460		45.31	%
		25 – 49.9		47		4.63	%		18		1.77	%
		50 – 74.9		4		0.39	%		2		0.20	%
		75 – 99.9		3		0.30	%		2		0.20	%
		100 – 124.9		2		0.20	%		1		0.10	%
		125 – 174.9		1		0.10	%		1		0.10	%
		175 – 199.9		1		0.10	%		0		0.00	%
		200 – 249.9		4		0.39	%		1		0.10	%
		>250		2		0.20	%		1		0.10	%
		Total		529		52.12	%		486		47.88	%
WisdomTree MidCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		468		46.10	%		476		46.90	%
		25 – 49.9		20		1.97	%		18		1.77	%
		50 – 74.9		8		0.79	%		4		0.39	%
		75 – 99.9		2		0.20	%		4		0.39	%
		100 – 124.9		2		0.20	%		3		0.30	%
		125 – 174.9		2		0.20	%		1		0.10	%
		175 – 199.9		2		0.20	%		0		0.00	%
		200 – 249.9		4		0.39	%		0		0.00	%
		>250		1		0.10	%		0		0.00	%
		Total		509		50.15	%		506		49.85	%
WisdomTree SmallCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		434		42.75	%		444		43.73	%
		25 – 49.9		50		4.92	%		48		4.73	%
		50 – 74.9		12		1.18	%		6		0.59	%
		75 – 99.9		2		0.20	%		2		0.20	%
		100 – 124.9		3		0.30	%		2		0.20	%
		125 – 174.9		3		0.30	%		2		0.20	%
		175 – 199.9		0		0.00	%		0		0.00	%
		200 – 249.9		1		0.10	%		1		0.10	%
		>250		3		0.30	%		2		0.20	%
		Total		508		50.05	%		507		49.95	%

*	Basis point (bps), is a unit that is equal to 1/100th of 1%.

 

WisdomTree Domestic Dividend Funds		63

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Trustee and Officer Information (unaudited)

 

The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by WisdomTree Asset Management and other service providers. The Board of Trustees elects the officers of the Trust who are responsible for administering the Trust’s day-to-day operations. Each Trustee serves until his or her successor is duly elected or appointed and qualified.

The address of each Trustee and Officer is c/o WisdomTree Asset Management, Inc., 380 Madison Avenue, 21st Floor, New York, NY 10017.

Interested Trustee and Officers

 

Name (year of birth)		Position		Term of Office and Length of Time Served		Principal Occupation(s) During the Past 5 Years		Number of Portfolios in Fund Complex Overseen by Trustee/ Officer+		Other Directorships Held by Trustee/ Officer
Jonathan Steinberg (1964)		Trustee, President*		Trustee and Officer since 2005		President, WisdomTree Trust since 2005; Chief Executive Officer of WisdomTree Investments, Inc. and Director of WisdomTree Investments, Inc. since 1989.		42		None.
Amit Muni (1969)		Treasurer,* Assistant Secretary*		Officer since 2008		Chief Financial Officer and Assistant Secretary of WisdomTree Investments, Inc. since March 2008; International Securities Exchange Holdings, Inc. (ISE), Controller and Chief Accounting Officer from 2003 to 2008.		42		None.
Richard Morris (1967)		Secretary,* Chief Legal Officer*		Officer since 2005		General Counsel of WisdomTree Asset Management since 2009; Deputy Counsel of WisdomTree Investments, Inc. since 2005; Senior Counsel at Barclays Global Investors, N.A. from 2002 to 2005.		42		None.

 

+	As of March 31, 2010.

 

*	Elected by and serves at the pleasure of the Board of Trustees.

 

64		WisdomTree Domestic Dividend Funds

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Trustee and Officer Information (unaudited) (concluded)

 

Independent Trustees

 

Name (year of birth)		Position		Term of Office and Length of Time Served		Principal Occupation(s) During the Past 5 Years		Number of Portfolios in Fund Complex Overseen by Trustee+		Other Directorships Held by Trustee
Gregory Barton (1961)*		Trustee		Trustee since 2006		Executive Vice President of Business and Legal Affairs, General Counsel and Secretary of TheStreet.com, 2009 to present; General Counsel of Martha Stewart Living Omnimedia, Inc. from 2007 to 2008; Executive Vice President of Licensing and Legal Affairs, General Counsel and Secretary of Ziff Davis Media Inc. from 2004 to 2007; Executive Vice President of Legal Affairs, General Counsel and Secretary of Ziff Davis Media Inc. from 2002 to 2004; President from 2001 to 2002, Chief Financial Officer from 2000 to 2002, Vice President of Business Development from 1999 to 2001 and General Counsel and Secretary from 1998 to 2002 of WisdomTree Investments, Inc.		42		None.
Toni Massaro (1955)**		Trustee		Trustee since 2006		Dean Emerita at University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009; Dean at the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.		42		None.
Victor Ugolyn (1947)		Trustee, Chairman of the Board of Trustees		Trustee since 2006		Private Investor - 2005 to Present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds 1991 to 2004.		42		Trustee on Board of Trustees of Naismith Memorial Basketball Hall of Fame; Member of the Board of Overseers of Stanford University’s Hoover Institution.

 

+	As of March 31, 2010.

 

*	Chair of the Audit Committee.

 

**	Chair of the Governance and Nominating Committee.

 

WisdomTree Domestic Dividend Funds		65

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Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds fiscal year ended March 31, 2010, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported on Form 1099-DIV in January 2011.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2010, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

Fund		Qualified Dividend Income
Total Dividend Fund		$	3,379,547
Equity Income Fund			4,515,370
LargeCap Dividend Fund			10,722,974
Dividend ex-Financials Fund			6,237,772
MidCap Dividend Fund			2,453,253
SmallCap Dividend Fund			3,049,931

The following represents the percentage of dividends paid during the fiscal year ended March 31, 2010 that qualify for the 70% dividends received deduction for corporate shareholders:

 

Fund		Dividends- Received Deduction
Total Dividend Fund		98.04	%
Equity Income Fund		95.64
LargeCap Dividend Fund		100.00
Dividend ex-Financials Fund		99.83
MidCap Dividend Fund		75.68
SmallCap Dividend Fund		61.65

 

66		WisdomTree Domestic Dividend Funds

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General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained by calling 866-909-9473; or writing to: WisdomTree Trust, c/o ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the Securities and Exchange Commission (“SEC”) no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 866-909-9473 or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Copies of the filings are available, without charge, upon request on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE. You can also obtain copies of Form N-Q by (i) visiting the SEC’s Public Reference Room in Washington, DC (information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330). (ii) sending your request and a duplicating fee to the SEC’s Public Reference Room, Washington, DC 20549-0102 or (iii) sending your request electronically to publicinfosec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.

The Fund’s Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

 

WisdomTree Domestic Dividend Funds		67

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The WisdomTree Family of Funds

 

The following is a list of WisdomTree Funds being offered, along with their respective ticker symbols as of March 31, 2010:

 

WisdomTree Domestic Dividend Funds   WisdomTree Total Dividend Fund (DTD)   WisdomTree Equity Income Fund (DHS)   WisdomTree LargeCap Dividend Fund (DLN)   WisdomTree Dividend ex-Financials Fund (DTN)   WisdomTree MidCap Dividend Fund (DON)   WisdomTree SmallCap Dividend Fund (DES)   WisdomTree International Dividend Funds   WisdomTree DEFA Fund (DWM)   WisdomTree DEFA Equity Income Fund (DTH)   WisdomTree Global Equity Income Fund (DEW)   WisdomTree Europe SmallCap Dividend Fund (DFE)   WisdomTree Japan Total Dividend Fund (DXJ)   WisdomTree World ex-U.S. Growth Fund (DNL)   WisdomTree Japan SmallCap Dividend Fund (DFJ)   WisdomTree Pacific ex-Japan Total Dividend Fund (DND)   WisdomTree Pacific ex-Japan Equity Income Fund (DNH)   WisdomTree International LargeCap Dividend Fund (DOL)   WisdomTree International Dividend ex-Financials Fund (DOO)   WisdomTree International MidCap Dividend Fund (DIM)   WisdomTree International SmallCap Dividend Fund (DLS)   WisdomTree Emerging Markets Equity Income Fund (DEM)   WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)   WisdomTree Middle East Dividend Fund (GULF)   WisdomTree International Hedged Equity Fund (HEDJ)		WisdomTree International Dividend Sector Funds   WisdomTree International Basic Materials Sector Fund (DBN)   WisdomTree International Energy Sector Fund (DKA)   WisdomTree International Utilities Sector Fund (DBU)   WisdomTree International Real Estate Fund (DRW)   WisdomTree Domestic and International Earnings Funds   WisdomTree Total Earnings Fund (EXT)   WisdomTree Earnings 500 Fund (EPS)   WisdomTree MidCap Earnings Fund (EZM)   WisdomTree SmallCap Earnings Fund (EES)   WisdomTree LargerCap Value Fund (EZY)   WisdomTree LargeCap Growth Fund (ROI)   WisdomTree India Earnings Fund (EPI)   WisdomTree Currency Income Funds   WisdomTree Dreyfus Brazilian Real Fund (BZF)   WisdomTree Dreyfus Chinese Yuan Fund (CYB)   WisdomTree Dreyfus Emerging Currency Fund (CEW)   WisdomTree Dreyfus Euro Fund (EU)   WisdomTree Dreyfus Indian Rupee Fund (ICN)   WisdomTree Dreyfus Japanese Yen Fund (JYF)   WisdomTree Dreyfus New Zealand Dollar Fund (BNZ)   WisdomTree Dreyfus South African Rand Fund (SZR)

The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission (“SEC”) as series of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the investment adviser to the WisdomTree Trust. None of the WisdomTree entities are affiliated with ALPS Distributors, Inc., the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee future results. Indexes are unmanaged and you can not invest directly in an index.

There are risks associated with investing including possible loss of principal. In addition to the normal risks of investing, foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country increase the impact of events and developments associated with the region which can adversely affect performance. Funds focusing on a single country, sector and/or smaller companies generally experience greater price volatility. Investments in emerging frontier markets are generally less liquid and less efficient than developed markets. Investments in currency involve additional special risks, such as credit risk, interest rate fluctuations, derivative investment risk and the effect of varied economic conditions. Derivatives can be volatile and may be less liquid than other securities. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting issuers. Unlike typical exchange-traded funds, there are no indexes that the currency funds attempt to track or replicate. Thus, the ability of the currency Funds to achieve their objectives will depend on the effectiveness of the portfolio manager. Please read the Funds’ prospectus for specific details regarding each Fund’s risk profile. Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only in large amounts of 50,000 shares or more.

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380 Madison Avenue, 21st Floor

New York, NY 10017

1.866.909. WISE (9473)

www.wisdomtree.com

 

WisdomTree Domestic Dividend ETFs

WisdomTree Total Dividend Fund

WisdomTree Equity Income Fund

WisdomTree LargeCap Dividend Fund

WisdomTree Dividend ex-Financials Fund

WisdomTree MidCap Dividend Fund

WisdomTree SmallCap Dividend Fund

WisdomTree Fund shares are distributed by ALPS Distributors, Inc.

WIS002526 (05/2011)

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Domestic and International Earnings Funds

 

Annual Report

March 31, 2010

WisdomTree Total Earnings Fund (EXT)

WisdomTree Earnings 500 Fund (EPS)

WisdomTree MidCap Earnings Fund (EZM)

WisdomTree SmallCap Earnings Fund (EES)

WisdomTree LargeCap Value Fund (EZY)

WisdomTree LargeCap Growth Fund (ROI)

WisdomTree India Earnings Fund (EPI)

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Table of Contents

 

Management’s Discussion of Funds’ Performance (unaudited)		2
Performance Summaries (unaudited)		4
Shareholder Expense Examples (unaudited)		13
Schedules of Investments
WisdomTree Total Earnings Fund		15
WisdomTree Earnings 500 Fund		27
WisdomTree MidCap Earnings Fund		34
WisdomTree SmallCap Earnings Fund		41
WisdomTree LargeCap Value Fund		50
WisdomTree LargeCap Growth Fund		55
WisdomTree India Earnings Fund (consolidated)		59
Statements of Assets and Liabilities		62
Statements of Operations		63
Statements of Changes in Net Assets		64
Financial Highlights		67
Notes to Financial Statements		72
Report of Independent Registered Public Accounting Firm		79
Approval of Investment Advisory and Sub-Advisory Agreement (unaudited)		80
Frequency Distribution of Discounts & Premiums (unaudited)		81
Trustee and Officers Information (unaudited)		83
Supplemental Information (unaudited)		85
General Information (unaudited)		86

“WisdomTree” is a registered mark of WisdomTree Investments, Inc. and is licensed for use by the Trust.

 

1

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Table of Contents

Management’s Discussion of Funds’ Performance (unaudited)

Domestic and International Earnings Funds

 

The U.S. equity market, measured by the Russell 3000 Index, S&P 500 Index, and Dow Jones Industrial Average, all popular benchmarks for the broad U.S. equity markets, rallied between 47% and 53% for the 12 month period ended March 31, 2010 (the “period”). These 12-month gains in stock prices came close to erasing the significant declines in those same benchmarks that ranged from 36% to 38% for the 12 months ended March 31, 2009. The broad market averages are now showing cumulative losses of 5-7% over the prior 24-months.

In the depths of the bear market that occurred in March 2009, investors were panicking about the safety of major financial institutions and those fears spread throughout the entire economy. At the close of the Funds’ fiscal year end in March 2010, the concerns about a financial meltdown have largely been largely taken off the table, though significant worries about the health of the economy remain. The Federal Reserve, led by Chairman Benjamin Bernanke, instituted a series of emergency lending programs that have restored confidence in the financial system, jump started bank lending, and lowered the interest rates for consumers and businesses. These extraordinary measures included, but were not limited to, “quantitative easing” policies to keep long-term bond and mortgage rates low and the lowering of the Federal Funds target interest rate to a historically low level — near zero. In addition to the easy monetary policies and all the special Federal Reserve programs designed to restore confidence in the financial system, substantial fiscal policy support measures for the economy were enacted by newly elected President Barack Obama, who assumed office in January 2009. While the U.S. unemployment rate, a lagging economic indicator, remained stubbornly high at 9.7% in March 2010, consumer and investor confidence generally rose throughout the period.

 

TICKER		WISDOMTREE FUND		1 YEAR RETURN			CAPITALIZATION-WEIGHTED BENCHMARK INDEX		1 YEAR RETURN			1 YEAR RETURN FUND vs INDEX
EPI		WisdomTree India Earnings Fund		112.11	%		MSCI India Index		115.88	%		-3.77	%
EES		WisdomTree SmallCap Earnings Fund		91.88	%		Russell 2000 Index		62.76	%		29.12	%
EZM		WisdomTree MidCap Earnings Fund		82.49	%		S&P MidCap 400 Index		64.07	%		18.42	%
EZY		WisdomTree LargeCap Value Fund		55.57	%		Russell 1000 Value Index		53.56	%		2.01	%
EXT		WisdomTree Total Earnings Fund		53.82	%		Russell 3000 Index		52.44	%		1.38	%
EPS		WisdomTree Earnings 500 Fund		49.49	%		S&P 500 Index		49.77	%		-0.28	%
ROI		WisdomTree LargeCap Growth Fund		37.46	%		Russell 1000 Growth Index		49.75	%		-12.29	%

As with the downturn, in which small cap stocks led the broader markets on the way down during the year ended March 31, 2009, small cap stocks led the markets higher during the year ended March 31, 2010. The perceived tendency of small cap stocks to outperform larger capitalization companies during the initial recovery phases of a bull market and their relative underperformance in recessions and bear markets is tied to many investors’ views that small cap stocks are more sensitive to the changing economic conditions than large capitalization stocks. This general tendency was played out during the period as many small cap stocks saw significant relative gains.

The WisdomTree Total Earnings Fund (EXT) performed better than its corresponding cap-weighted index over the period. However, this was not as significant as the relative outperformance of the WisdomTree mid- and small-cap earnings Funds against their corresponding capitalization-weighted indexes.

WisdomTree’s earnings weighted funds are designed to track indexes based on the earnings stream generated by companies included in the underlying WisdomTree index. There are two primary factors that drive performance differential versus market cap-weighted benchmarks: aggregate exposure to a sector and stock selection within a sector, both of which are determined as part of WisdomTree’s rules-based index methodology. These exposures are not subjectively determined. Rather they are objectively determined at the re-balancing dates based on the earnings stream.

 

2		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Management’s Discussion of Funds’ Performance (unaudited) (concluded)

 

For the Total Earnings Fund (EXT) and the Earnings 500 Fund (EPS) better stock selection in the materials and health care sectors impacted returns positively, while higher exposure to the energy sector, which under-performed the market, was a negative factor.

In the SmallCap Earnings Fund (EES) three sectors with significant positive performance were given above average weight as a result of our rules-based index methodology: consumer discretionary, energy, and materials sectors. These sectors helped drive the significant performance differential of EES over its cap-weighted benchmark.

Internationally, India is the only region of the world where WisdomTree sets portfolio weights based on earnings. This is because the tax regulations in India act as a disincentive to dividend payments. During the period, emerging markets led the global economy and financial markets higher, and India was one of the best performing countries in the world. The WisdomTree India Earnings Fund (EPI) was up over 110%, led by sectors such as the consumer discretionary sector.

The views expressed in this report reflect those of WisdomTree Asset Management only through the end of the period of the report as stated on the cover. The portfolio managers’ views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Past performance is no guarantee of future results.

Fund returns are shown at NAV. Please see Performance Summaries on the subsequent pages for more complete performance information. Please see page 12 for the list of index descriptions.

Fund performance assumes reinvestment of dividends and capital gain distributions. An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results. For the most recent month end performance information visit www.wisdomtree.com.

 

WisdomTree Domestic and International Earnings Funds		3

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Performance Summary (unaudited)

WisdomTree Total Earnings Fund (EXT)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Exxon Mobil Corp.		3.5%
Wal-Mart Stores, Inc.		2.5%
Microsoft Corp.		2.3%
General Electric Co.		2.1%
Johnson & Johnson		2.0%
Berkshire Hathaway, Inc. Class B		1.9%
International Business Machines Corp.		1.7%
Chevron Corp.		1.7%
Procter & Gamble Co. (The)		1.7%
Pfizer, Inc.		1.5%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree Total Earnings Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree Earnings Index.

The WisdomTree Total Earnings Fund (Ticker Symbol: EXT) returned 53.82% at net asset value (“NAV”) for the fiscal year ending March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Materials, which had above average returns and had a notable contribution to positive Fund performance. Energy stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.28%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Earnings Index			Russell 3000 Index
One Year		53.82	%		52.96	%		54.37	%		52.44	%
Three Year		-3.40	%		-3.53	%		-3.22	%		-3.99	%
Since Inception1		-3.85	%		-3.99	%		-3.68	%		-4.52	%

1	Total returns are calculated based on the commencement of Fund trading on February 23, 2007.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

4		WisdomTree Domestic and International Earnings Funds

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Performance Summary (unaudited)

WisdomTree Earnings 500 Fund (EPS)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Exxon Mobil Corp.		4.0%
Wal-Mart Stores, Inc.		2.8%
Microsoft Corp.		2.6%
General Electric Co.		2.3%
Johnson & Johnson		2.3%
Berkshire Hathaway, Inc. Class B		2.2%
International Business Machines Corp.		2.0%
Chevron Corp.		1.9%
Procter & Gamble Co. (The)		1.9%
Pfizer, Inc.		1.7%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree Earnings 500 Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree Earnings 500 Index.

The WisdomTree Earnings 500 Fund (Ticker Symbol: EPS) returned 49.49% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Health Care, which had below average returns. This underweighting had a notable contribution to positive Fund performance. Energy stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.28%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Earnings 500 Index			S&P 500 Index
One Year		49.49	%		48.95	%		50.18	%		49.77	%
Three Year		-3.97	%		-4.11	%		-3.66	%		-4.17	%
Since Inception1		-4.37	%		-4.49	%		-4.06	%		-4.63	%

1	Total returns are calculated based on the commencement of Fund trading on February 23, 2007.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree Domestic and International Earnings Funds		5

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Performance Summary (unaudited)

WisdomTree MidCap Earnings Fund (EZM)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
OSI Pharmaceuticals, Inc.		1.7%
Huntsman Corp.		1.3%
Tidewater, Inc.		0.7%
Omnicare, Inc.		0.7%
Universal Health Services, Inc. Class B		0.6%
Kinetic Concepts, Inc.		0.6%
Patriot Coal Corp.		0.6%
Cubist Pharmaceuticals, Inc.		0.6%
Southern Union Co.		0.6%
StanCorp Financial Group, Inc.		0.6%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree MidCap Earnings Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree MidCap Earnings Index.

The WisdomTree MidCap Earnings Fund (Ticker Symbol: EZM) returned 82.49% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Midcap companies generally performed well throughout the period and every sector contributed positively to returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree MidCap Earnings Index			S&P MidCap 400 Index
One Year		82.49	%		81.91	%		83.85	%		64.07	%
Three Year		0.31	%		0.19	%		0.36	%		-0.83	%
Since Inception1		-0.47	%		-0.51	%		-0.40	%		-1.47	%

1	Total returns are calculated based on the commencement of Fund trading on February 23, 2007.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

6		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree SmallCap Earnings Fund (EES)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
MBIA, Inc.		2.2%
First Financial Bancorp		1.5%
Innophos Holdings, Inc.		0.8%
Deluxe Corp.		0.8%
Amtrust Financial Services, Inc.		0.8%
Buckeye Technologies, Inc.		0.7%
Sun Healthcare Group, Inc.		0.7%
Cincinnati Bell, Inc.		0.7%
Domino’s Pizza, Inc.		0.6%
BlackRock Kelso Capital Corp.		0.6%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree SmallCap Earnings Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree SmallCap Earnings Index.

The WisdomTree SmallCap Earnings Fund (Ticker Symbol: EES) returned 91.88% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). Every sector contributed positively to returns. Overweight positions in Energy and Materials resulted in significant contributions to positive Fund performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree SmallCap Earnings Index			Russell 2000 Index
One Year		91.88	%		90.93	%		92.79	%		62.76	%
Three Year		-1.51	%		-1.54	%		-1.64	%		-3.99	%
Since Inception1		-2.73	%		-2.80	%		-2.83	%		-4.80	%

1	Total returns are calculated based on the commencement of Fund trading on February 23, 2007.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

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Table of Contents

Performance Summary (unaudited)

WisdomTree LargeCap Value Fund (EZY)

(Formerly, WisdomTree Low P/E Fund)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Chevron Corp.		9.3%
ConocoPhillips		7.5%
Time Warner, Inc.		6.8%
Hewlett-Packard Co.		5.2%
Wal-Mart Stores, Inc.		5.1%
Verizon Communications, Inc.		2.9%
UnitedHealth Group, Inc.		2.3%
Marathon Oil Corp.		2.2%
Home Depot, Inc.		1.7%
WellPoint, Inc.		1.6%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree LargeCap Value Fund seeks investment results that correspond to the price and yield performance before fees and expenses, of the WisdomTree LargeCap Value Index. The LargeCap Value Index is a fundamentally weighted index that measures the performance of large-cap value companies. The Index consists of U.S. companies that have positive cumulative earnings over the past four fiscal quarters and that meet WisdomTree’s market capitalization, liquidity, and other requirements as of the Index measurement date. Effective June 19, 2009, the WisdomTree Low P/E Fund changed its investment objective and was renamed the WisdomTree LargeCap Value Fund.

The WisdomTree LargeCap Value Fund (Ticker Symbol: EZY) returned 55.57% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Health Care, which had below average returns. This underweighting had a notable contribution to positive Fund performance. An underweight position in Financials, which outperformed, contributed to a drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			Spliced Wisdom Tree Index1			Russell 1000 Value Index
One Year		55.57	%		54.94	%		56.49	%		53.56	%
Three Year		-6.94	%		-7.04	%		-6.66	%		-7.33	%
Since Inception2		-7.24	%		-7.31	%		-6.98	%		-7.49	%

1	WisdomTree Low P/E Index through June 19, 2009; WisdomTree LargeCap Value Index thereafter.

 

2	Total returns are calculated based on the commencement of Fund trading on February 23, 2007.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

8		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree LargeCap Growth Fund (ROI)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

 

#	Amount represents less than 0.05%.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Exxon Mobil Corp.		14.3%
Chevron Corp.		9.5%
Wal-Mart Stores, Inc.		5.3%
Occidental Petroleum Corp.		3.7%
Apple, Inc.		3.4%
Oracle Corp.		2.9%
Abbott Laboratories		2.3%
Google, Inc. Class A		2.3%
Amgen, Inc.		2.2%
Anadarko Petroleum Corp.		2.1%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree LargeCap Growth Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree LargeCap Growth Index.

The WisdomTree LargeCap Growth Fund (Ticker Symbol: ROI) returned 37.46% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Health Care, which had below average returns. This underweighting had a notable contribution to positive Fund performance. Energy stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.38%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree LargeCap Growth Index			Russell 1000 Growth Index
One Year		37.46	%		36.94	%		38.39	%		49.75	%
Since Inception1		30.66	%		30.37	%		31.37	%		40.17	%

1	Total returns are calculated based on the commencement of Fund trading on December 4, 2008.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree Domestic and International Earnings Funds		9

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Table of Contents

Performance Summary (unaudited)

WisdomTree India Earnings Fund (EPI)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Reliance Industries Ltd.		10.9%
Infosys Technologies Ltd.		8.1%
Oil & Natural Gas Corp., Ltd.		6.3%
State Bank of India Ltd.		3.2%
ICICI Bank Ltd.		2.8%
Bharti Airtel Ltd.		2.8%
Housing Development Finance Corp.		2.6%
Tata Consultancy Services Ltd.		2.4%
Sesa Goa Ltd.		2.2%
Tata Steel Ltd.		2.2%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree India Earnings Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree India Earnings Index.

The WisdomTree India Earnings Fund (Ticker Symbol: EPI) returned 112.11% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). Consumer Staples and Industrials had notable contributions to positive Fund performance. Telecommunications Services and Energy created a drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual net expense ratio of the Fund is 0.88%. Fund expenses are capped by contract at 0.88%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree India Earnings Index			MSCI India Index
One Year		112.11	%		112.54	%		115.36	%		115.88	%
Since Inception1		-2.77	%		-2.95	%		-1.03	%		-4.11	%

1	Total returns are calculated based on the commencement of Fund trading on February 22, 2008.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

10		WisdomTree Domestic and International Earnings Funds

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Table of Contents

 

		Cumulative Returns as of 3/31/10 (unaudited)
		Total Return NAV (%)									Market Price (%)
		1-Year			3-Year			Since Inception			1-Year			3-Year			Since Inception
WisdomTree Total Earnings Fund		53.82	%		-9.85	%		-11.46	%		52.96	%		-10.23	%		-11.85	%
Russell 3000 Index		52.44	%		-11.50	%		-13.35	%		52.44	%		-11.50	%		-13.35	%
WT Earnings Index		54.37	%		-9.36	%		-10.97	%		54.37	%		-9.36	%		-10.97	%
WisdomTree Earnings 500 Fund		49.49	%		-11.45	%		-12.92	%		48.95	%		-11.82	%		-13.26	%
S&P 500 Index		49.77	%		-11.98	%		-13.68	%		49.77	%		-11.98	%		-13.68	%
WT Earnings 500 Index		50.18	%		-10.59	%		-12.05	%		50.18	%		-10.59	%		-12.05	%
WisdomTree MidCap Earnings Fund		82.49	%		0.94	%		-1.45	%		81.91	%		0.58	%		-1.58	%
S&P MidCap 400 Index		64.07	%		-2.46	%		-4.49	%		64.07	%		-2.46	%		-4.49	%
WT MidCap Earnings Index		83.85	%		1.07	%		-1.24	%		83.85	%		1.07	%		-1.24	%
WisdomTree SmallCap Earnings Fund		91.88	%		-4.47	%		-8.21	%		90.93	%		-4.54	%		-8.42	%
Russell 2000 Index		62.76	%		-11.50	%		-14.14	%		62.76	%		-11.50	%		-14.14	%
WT SmallCap Earnings Index		92.79	%		-4.85	%		-8.52	%		92.79	%		-4.85	%		-8.52	%
WisdomTree LargeCap Value Fund		55.57	%		-19.41	%		-20.77	%		54.94	%		-19.66	%		-20.95	%
Russell 1000 Value Index		53.56	%		-20.42	%		-21.45	%		53.56	%		-20.42	%		-21.45	%
Spliced WisdomTree Index		56.49	%		-18.67	%		-20.11	%		56.49	%		-18.67	%		-20.11	%
WisdomTree LargeCap Growth Fund		37.46	%		n/a			42.36	%		36.94	%		n/a			41.93	%
Russell 1000 Growth Index		49.75	%		n/a			56.19	%		49.75	%		n/a			56.19	%
WisdomTree LargeCap Growth Index		38.39	%		n/a			43.38	%		38.39	%		n/a			43.38	%
WisdomTree India Earnings Fund		112.11	%		n/a			-5.74	%		112.54	%		n/a			-6.12	%
MSCI India Index		115.88	%		n/a			-8.46	%		115.88	%		n/a			-8.46	%
WT India Earnings Index		115.36	%		n/a			-2.15	%		115.36	%		n/a			-2.15	%

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

Please see page 12 for the list of index descriptions.

 

WisdomTree Domestic and International Earnings Funds		11

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Table of Contents

Description of Terms and Indices (unaudited)

 

Below are descriptions of each index referenced in this Annual Report:

The WisdomTree Earnings Index measures the performance of earnings-generating companies within the broad U.S. stock market.

The WisdomTree Earnings 500 Index measures the performance of earnings-generating companies within the large-cap segment of the U.S. stock market.

The WisdomTree MidCap Earnings Index measures the performance of earnings-generating companies within the mid-capitalization segment of the U.S. stock market.

The WisdomTree SmallCap Earnings Index measures the performance of earnings-generating companies within the small-capitalization segment of the U.S. stock market.

The WisdomTree LargeCap Value Index is a fundamentally weighted index that measures the stock performance of value companies in the US.

The WisdomTree Low P/E Index measures the performance of companies with the lowest price-to-earnings ratios (P/E ratios) in the WisdomTree Earnings Index.

The WisdomTree LargeCap Growth Index is a fundamentally weighted index that measures the performance of large cap growth companies.

The WisdomTree India Earnings Index is a fundamentally weighted index that measures the performance of companies incorporated and traded in India that are profitable and that are eligible to be purchased by foreign investors as of the index measurement date.

The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies, based on total market capitalization.

The S&P 500 Index is a capitalization-weighted index of 500 stocks selected by Standard & Poor’s Index Committee, designed to represent the performance of the leading industries in the United States economy.

The Russell 1000 Value Index is a measure of the large-capitalization value segment of the U.S. equity universe, selecting from the Russell 1000 Index.

The S&P Midcap 400 Index is a capitalization-weighted index that measures the performance of the mid-capitalization range of the U.S. stock market, with stocks selected by the Standard & Poor’s Index Committee.

The Russell 2000 Index measures performance of the smallest 2,000 securities in the Russell 3000 Index.

The MSCI India Index is a free float-adjusted market capitalization index that is designed to measure the performance of stocks in India.

Spliced WisdomTree Index — WisdomTree Low P/E Index through June 19, 2009; WisdomTree LargeCap Value Index thereafter.

Index performance information assumes the reinvestment of gross dividends and excludes management fees, transaction costs and expenses. Performance information for the MSCI India Index assumes reinvestment of net dividends and excludes management fees, transaction costs and expenses. You cannot directly invest in an index.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

 

12		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Shareholder Expense Examples (unaudited)

 

As a shareholder of a WisdomTree Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The following example is intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2009 to March 31, 2010.

Actual expenses

The first line under each Fund in the table on the next page provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During Period 10/01/09 to 3/31/10” to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes

The second line under each Fund in the table on the next page provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line under each Fund in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

WisdomTree Domestic and International Earnings Funds		13

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Table of Contents

Shareholder Expense Examples (unaudited) (concluded)

 

		Beginning Account Value 10/01/09			Ending Account Value 3/31/10			Annualized Expense Ratio Based on the Period 10/01/09 to 3/31/10			Expenses Paid During the Period† 10/01/09 to 3/31/10
WisdomTree Total Earnings Fund
Actual		$	1,000.00		$	1,120.70		0.28	%		$	1.48
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.54		0.28	%		$	1.41
WisdomTree Earnings 500 Fund
Actual		$	1,000.00		$	1,115.93		0.28	%		$	1.48
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.54		0.28	%		$	1.41
WisdomTree MidCap Earnings Fund
Actual		$	1,000.00		$	1,170.69		0.38	%		$	2.06
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.04		0.38	%		$	1.92
WisdomTree SmallCap Earnings Fund
Actual		$	1,000.00		$	1,108.29		0.38	%		$	2.00
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.04		0.38	%		$	1.92
WisdomTree LargeCap Value Fund
Actual		$	1,000.00		$	1,134.15		0.38	%		$	2.02
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.04		0.38	%		$	1.92
WisdomTree LargeCap Growth Fund
Actual		$	1,000.00		$	1,102.88		0.38	%		$	1.99
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.04		0.38	%		$	1.92
WisdomTree India Earnings Fund
Actual		$	1,000.00		$	1,117.02		0.88	%		$	4.64
Hypothetical (5% return before expenses)		$	1,000.00		$	1,020.54		0.88	%		$	4.43

†	Expenses are calculated using each Fund’s annualized expense ratio, multiplied by the average account value for the period, multiplied by 182/365 (to reflect one-half year period).

 

14		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.7%
Aerospace & Defense – 2.9%
AAR Corp.*		270		$	6,701
Alliant Techsystems, Inc.*		203			16,504
Ceradyne, Inc.*		234			5,309
Cubic Corp.		234			8,424
Curtiss-Wright Corp.		177			6,160
DynCorp International, Inc. Class A*		893			10,261
Esterline Technologies Corp.*		136			6,723
General Dynamics Corp.		2,450			189,140
Goodrich Corp.		602			42,453
HEICO Corp.		229			11,807
Hexcel Corp.*		641			9,256
Honeywell International, Inc.		3,313			149,980
ITT Corp.		670			35,919
L-3 Communications Holdings, Inc.		818			74,953
Lockheed Martin Corp.		1,944			161,780
Moog, Inc. Class A*		183			6,482
Northrop Grumman Corp.		1,058			69,373
Orbital Sciences Corp.*		227			4,315
Precision Castparts Corp.		671			85,022
Raytheon Co.		2,217			126,635
Rockwell Collins, Inc.		755			47,255
Spirit Aerosystems Holdings, Inc. Class A*		684			15,992
Stanley, Inc.*		344			9,732
Teledyne Technologies, Inc.*		136			5,613
TransDigm Group, Inc.		392			20,792
Triumph Group, Inc.		116			8,130
United Technologies Corp.		3,540			260,579
Total Aerospace & Defense					1,395,290
Air Freight & Logistics – 0.4%
Atlas Air Worldwide Holdings, Inc.*		166			8,806
C.H. Robinson Worldwide, Inc.(a)		529			29,545
Expeditors International Washington, Inc.		624			23,038
Forward Air Corp.		111			2,919
HUB Group, Inc. Class A*		139			3,889
United Parcel Service, Inc. Class B		2,082			134,102
Total Air Freight & Logistics					202,299
Airlines – 0.1%
Allegiant Travel Co.*		189			10,935
Hawaiian Holdings, Inc.*		1,231			9,072
Republic Airways Holdings, Inc.*		454			2,688
Skywest, Inc.		342			4,884
Total Airlines					27,579
Automobiles – 0.0%
Harley-Davidson, Inc.		755			21,193
Beverages – 2.6%
Brown-Forman Corp. Class B(a)		703			41,793
Coca-Cola Bottling Co. Consolidated		163			9,562
Coca-Cola Co. (The)		8,947			492,085
Coca-Cola Enterprises, Inc.		2,450			67,767
Constellation Brands, Inc. Class A*		550			9,042

Investments		Shares		Value
Dr. Pepper Snapple Group, Inc.		1,554		$	54,654
Hansen Natural Corp.*		271			11,756
Molson Coors Brewing Co. Class B		842			35,414
PepsiCo, Inc.		7,617			503,941
Total Beverages					1,226,014
Biotechnology – 2.0%
Alkermes, Inc.*		1,027			13,320
Amgen, Inc.*		6,965			416,229
Biogen Idec, Inc.*		1,439			82,541
Celgene Corp.*		625			38,725
Cephalon, Inc.*		373			25,282
Cubist Pharmaceuticals, Inc.*		1,024			23,081
Emergent Biosolutions, Inc.*		143			2,401
Genzyme Corp.*		822			42,604
Gilead Sciences, Inc.*		4,598			209,117
Immunomedics, Inc.*(a)		2,853			9,472
Martek Biosciences Corp.*		487			10,962
Myriad Genetics, Inc.*		509			12,242
OSI Pharmaceuticals, Inc.*		1,057			62,944
PDL BioPharma, Inc.		2,860			17,761
Total Biotechnology					966,681
Building Products – 0.0%
Ameron International Corp.		63			3,962
Apogee Enterprises, Inc.		340			5,376
Armstrong World Industries, Inc.*		1			36
Simpson Manufacturing Co., Inc.(a)		138			3,831
Total Building Products					13,205
Capital Markets – 2.4%
Ameriprise Financial, Inc.		297			13,472
BlackRock Kelso Capital Corp.		1,378			13,725
BlackRock, Inc.		232			50,520
Broadpoint Gleacher Securities, Inc.*		1,801			7,204
Charles Schwab Corp. (The)		4,274			79,881
Eaton Vance Corp.		435			14,590
Federated Investors, Inc. Class B(a)		481			12,689
Franklin Resources, Inc.		773			85,726
GAMCO Investors, Inc. Class A		133			6,052
GFI Group, Inc.		1,261			7,289
Goldman Sachs Group, Inc. (The)		2,540			433,400
Greenhill & Co., Inc.		72			5,910
Investment Technology Group, Inc.*		250			4,172
Knight Capital Group, Inc. Class A*		1,195			18,224
Northern Trust Corp.		1,418			78,359
optionsXpress Holdings, Inc.		372			6,060
Prospect Capital Corp.(a)		304			3,694
Raymond James Financial, Inc.		548			14,654
Riskmetrics Group, Inc.*		579			13,091
SEI Investments Co.		520			11,424
State Street Corp.		3,108			140,295
Stifel Financial Corp.*		74			3,977
T. Rowe Price Group, Inc.		622			34,166
TD Ameritrade Holding Corp.*(a)		3,067			58,457

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		15

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Waddell & Reed Financial, Inc. Class A(a)		158		$	5,694
Total Capital Markets					1,122,725
Chemicals – 1.7%
Air Products & Chemicals, Inc.		576			42,595
Airgas, Inc.		440			27,993
Albemarle Corp.		271			11,553
Arch Chemicals, Inc.		140			4,815
Ashland, Inc.		1			53
Balchem Corp.		411			10,131
Celanese Corp. Series A		824			26,244
CF Industries Holdings, Inc.		439			40,028
Eastman Chemical Co.		155			9,870
Ecolab, Inc.		520			22,854
FMC Corp.		272			16,467
H.B. Fuller Co.		317			7,357
Huntsman Corp.		4,064			48,971
Innophos Holdings, Inc.		479			13,364
International Flavors & Fragrances, Inc.		316			15,064
Intrepid Potash, Inc.*(a)		302			9,160
Koppers Holdings, Inc.		186			5,267
Lubrizol Corp.		322			29,534
Monsanto Co.		2,034			145,268
Mosaic Co. (The)		1,123			68,245
NewMarket Corp.		131			13,492
Olin Corp.		430			8,437
PPG Industries, Inc.		279			18,246
Praxair, Inc.		1,080			89,640
RPM International, Inc.		776			16,560
Scotts Miracle-Gro Co. (The) Class A		316			14,647
Sensient Technologies Corp.		188			5,463
Sigma-Aldrich Corp.		547			29,352
Stepan Co.		139			7,769
Terra Industries, Inc.		778			35,601
Valspar Corp.		362			10,672
W.R. Grace & Co.*		1			28
Total Chemicals					804,740
Commercial Banks – 2.2%
Associated Banc-Corp.		507			6,997
Bancfirst Corp.		71			2,976
BancorpSouth, Inc.		321			6,728
Bank of Hawaii Corp.(a)		211			9,484
Bank of the Ozarks, Inc.		338			11,894
BB&T Corp.		2,626			85,056
BOK Financial Corp.		387			20,294
Camden National Corp.		279			8,959
City National Corp.		158			8,527
Commerce Bancshares, Inc.		439			18,061
Community Bank System, Inc.		159			3,622
Community Trust Bancorp, Inc.		390			10,565
Cullen/Frost Bankers, Inc.		204			11,383
CVB Financial Corp.(a)		413			4,101
First Citizens BancShares, Inc. Class A		42			8,348
First Financial Bancorp		1,371			24,390

Investments		Shares		Value
First Financial Bankshares, Inc.		86		$	4,433
FirstMerit Corp.		322			6,946
FNB Corp.		361			2,928
Fulton Financial Corp.		709			7,225
Glacier Bancorp, Inc.		247			3,762
Hancock Holding Co.		114			4,766
International Bancshares Corp.		873			20,070
M&T Bank Corp.		362			28,736
NBT Bancorp, Inc.		154			3,519
Old National Bancorp		298			3,561
Park National Corp.(a)		69			4,299
PNC Financial Services Group, Inc.		990			59,103
Prosperity Bancshares, Inc.		166			6,806
Republic Bancorp, Inc. Class A		476			8,968
S&T Bancorp, Inc.		117			2,445
Simmons First National Corp. Class A(a)		341			9,401
Susquehanna Bancshares, Inc.		318			3,120
SVB Financial Group*		206			9,612
TCF Financial Corp.(a)		635			10,122
Tompkins Financial Corp.		241			8,792
Trustmark Corp.		248			6,059
U.S. Bancorp		5,131			132,790
UMB Financial Corp.		116			4,710
United Bankshares, Inc.(a)		160			4,195
Valley National Bancorp(a)		347			5,333
Wells Fargo & Co.		13,490			419,809
Westamerica Bancorp.(a)		91			5,246
Total Commercial Banks					1,028,141
Commercial Services & Supplies – 0.7%
ABM Industries, Inc.		208			4,410
Cintas Corp.(a)		550			15,450
Clean Harbors, Inc.*		72			4,000
Consolidated Graphics, Inc.*		166			6,874
Copart, Inc.*		273			9,719
Cornell Cos., Inc.*		435			7,965
Corrections Corp. of America*		419			8,321
Covanta Holding Corp.*		350			5,831
Deluxe Corp.		1,071			20,799
Ennis, Inc.		619			10,071
Geo Group, Inc. (The)*		183			3,627
Herman Miller, Inc.		482			8,705
HNI Corp.		277			7,377
Iron Mountain, Inc.		646			17,700
Knoll, Inc.		505			5,681
M&F Worldwide Corp.*		232			7,099
McGrath Rentcorp		409			9,910
Mine Safety Appliances Co.		154			4,306
Mobile Mini, Inc.*		600			9,294
Pitney Bowes, Inc.		1,118			27,335
Republic Services, Inc.		818			23,738
Rollins, Inc.		271			5,875
Stericycle, Inc.*		296			16,132
SYKES Enterprises, Inc.*		246			5,619

 

See Notes to Financial Statements.

 

16		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Tetra Tech, Inc.*		184		$	4,239
United Stationers, Inc.*		163			9,593
Waste Connections, Inc.*		201			6,826
Waste Management, Inc.		2,215			76,262
Total Commercial Services & Supplies					342,758
Communications Equipment – 1.8%
Adtran, Inc.		327			8,616
Arris Group, Inc.*		503			6,041
Black Box Corp.		113			3,476
Cisco Systems, Inc.*		20,198			525,754
Comtech Telecommunications Corp.*		109			3,487
F5 Networks, Inc.*		211			12,979
Harris Corp.		749			35,570
Juniper Networks, Inc.*		827			25,372
Polycom, Inc.*		348			10,642
QUALCOMM, Inc.		5,145			216,038
Tekelec*		292			5,303
Tellabs, Inc.		1,675			12,680
Total Communications Equipment					865,958
Computers & Peripherals – 4.9%
Apple, Inc.*		2,423			569,235
Dell, Inc.*		8,787			131,893
Diebold, Inc.(a)		224			7,114
EMC Corp.*		4,664			84,139
Hewlett-Packard Co.		11,425			607,239
International Business Machines Corp.		6,506			834,394
Lexmark International, Inc. Class A*		163			5,881
NetApp, Inc.*		713			23,215
QLogic Corp.*(a)		524			10,637
Synaptics, Inc.*(a)		339			9,360
Teradata Corp.*		777			22,448
Western Digital Corp.*		1,073			41,836
Total Computers & Peripherals					2,347,391
Construction & Engineering – 0.5%
Aecom Technology Corp.*		594			16,852
EMCOR Group, Inc.*(a)		389			9,581
Fluor Corp.		1,326			61,672
Granite Construction, Inc.		137			4,140
Jacobs Engineering Group, Inc.*		850			38,412
KBR, Inc.		1,400			31,024
MasTec, Inc.*		394			4,968
Quanta Services, Inc.*		828			15,864
Tutor Perini Corp.*		759			16,508
URS Corp.*		455			22,573
Total Construction & Engineering					221,594
Construction Materials – 0.0%
Martin Marietta Materials, Inc.(a)		91			7,603
Texas Industries, Inc.		92			3,143
Vulcan Materials Co.		157			7,417
Total Construction Materials					18,163
Consumer Finance – 0.2%
Advance America, Cash Advance Centers, Inc.		1,510			8,788

Investments		Shares		Value
American Express Co.		1,242		$	51,245
Cash America International, Inc.		177			6,988
Credit Acceptance Corp.*(a)		251			10,351
Dollar Financial Corp.*		317			7,627
Ezcorp, Inc. Class A*		205			4,223
First Cash Financial Services, Inc.*		418			9,016
Nelnet, Inc. Class A		517			9,596
Student Loan Corp. (The)		140			4,974
World Acceptance Corp.*(a)		159			5,737
Total Consumer Finance					118,545
Containers & Packaging – 0.4%
AEP Industries, Inc.*		228			5,933
Aptargroup, Inc.		205			8,067
Ball Corp.		505			26,957
Bemis Co., Inc.		297			8,530
Boise, Inc.*		1,738			10,654
Crown Holdings, Inc.*		324			8,735
Greif, Inc. Class A		70			3,844
Packaging Corp. of America		898			22,100
Pactiv Corp.*		666			16,770
Rock-Tenn Co. Class A		326			14,856
Sealed Air Corp.		965			20,342
Silgan Holdings, Inc.		276			16,623
Sonoco Products Co.		252			7,759
Temple-Inland, Inc.		551			11,257
Total Containers & Packaging					182,427
Distributors – 0.1%
Core-Mark Holding Co., Inc.*		296			9,061
Genuine Parts Co.		773			32,651
LKQ Corp.*		526			10,678
Total Distributors					52,390
Diversified Consumer Services – 0.5%
Apollo Group, Inc. Class A*		899			55,100
Brink’s Home Security Holdings, Inc.*		275			11,701
Career Education Corp.*		232			7,340
Corinthian Colleges, Inc.*		646			11,363
DeVry, Inc.		294			19,169
H&R Block, Inc.		2,061			36,686
Hillenbrand, Inc.		462			10,159
ITT Educational Services, Inc.*		235			26,433
Matthews International Corp. Class A		112			3,976
Pre-Paid Legal Services, Inc.*(a)		88			3,331
Regis Corp.		322			6,015
Service Corp. International		2,103			19,306
Strayer Education, Inc.(a)		23			5,601
Weight Watchers International, Inc.		617			15,752
Total Diversified Consumer Services					231,932
Diversified Financial Services – 2.0%
Bank of America Corp.		21,348			381,062
CME Group, Inc.		224			70,808
Interactive Brokers Group, Inc. Class A*		520			8,398
IntercontinentalExchange, Inc.*		254			28,494

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		17

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
JPMorgan Chase & Co.		8,726		$	390,488
Moody’s Corp.(a)		1,301			38,705
MSCI, Inc. Class A*		274			9,891
NASDAQ OMX Group (The)*		1,264			26,696
Portfolio Recovery Associates, Inc.*		224			12,291
Total Diversified Financial Services					966,833
Diversified Telecommunication Services – 2.3%
AboveNet, Inc.*(a)		155			7,863
Alaska Communications Systems Group, Inc.(a)		600			4,872
AT&T, Inc.		23,808			615,199
CenturyTel, Inc.		847			30,035
Cincinnati Bell, Inc.*		5,034			17,166
Frontier Communications Corp.(a)		1,050			7,812
Qwest Communications International, Inc.		4,802			25,066
Verizon Communications, Inc.		10,769			334,054
Windstream Corp.		3,100			33,759
Total Diversified Telecommunication Services					1,075,826
Electric Utilities – 2.2%
Allegheny Energy, Inc.		990			22,770
ALLETE, Inc.		158			5,290
American Electric Power Co., Inc.		2,353			80,426
Cleco Corp.		234			6,213
DPL, Inc.		727			19,767
Duke Energy Corp.		5,588			91,196
Edison International		1,530			52,280
El Paso Electric Co.*		185			3,811
Entergy Corp.		1,049			85,336
Exelon Corp.		3,915			171,516
FirstEnergy Corp.		1,162			45,423
FPL Group, Inc.		2,335			112,851
Great Plains Energy, Inc.		849			15,766
Hawaiian Electric Industries, Inc.		294			6,600
IDACORP, Inc.		183			6,335
ITC Holdings Corp.		318			17,490
MGE Energy, Inc.		115			4,066
Northeast Utilities		891			24,627
NV Energy, Inc.		911			11,233
Pepco Holdings, Inc.		733			12,571
Portland General Electric Co.		252			4,866
PPL Corp.		1,193			33,058
Progress Energy, Inc.		1,468			57,780
Southern Co.		3,663			121,465
UIL Holdings Corp.		117			3,218
Unisource Energy Corp.		292			9,180
Westar Energy, Inc.		419			9,344
Total Electric Utilities					1,034,478
Electrical Equipment – 0.8%
A.O. Smith Corp.		161			8,464
Acuity Brands, Inc.		208			8,780
AMETEK, Inc.		372			15,423
AZZ, Inc.		269			9,105
Baldor Electric Co.		297			11,108

Investments		Shares		Value
Brady Corp. Class A		281		$	8,745
Emerson Electric Co.		3,223			162,246
EnerSys*		1			25
First Solar, Inc.*(a)		389			47,711
General Cable Corp.*		280			7,560
GT Solar International, Inc.*(a)		1,603			8,384
Hubbell, Inc. Class B		299			15,078
II-VI, Inc.*		202			6,836
Powell Industries, Inc.*		273			8,881
Regal-Beloit Corp.		188			11,169
Rockwell Automation, Inc.		251			14,146
Roper Industries, Inc.		297			17,178
SunPower Corp. Class A*(a)		112			2,117
Thomas & Betts Corp.*		98			3,845
Woodward Governor Co.		293			9,370
Total Electrical Equipment					376,171
Electronic Equipment, Instruments & Components – 0.7%
Amphenol Corp. Class A		599			25,272
Anixter International, Inc.*		110			5,153
Arrow Electronics, Inc.*		302			9,099
Avnet, Inc.*		442			13,260
AVX Corp.		848			12,042
Benchmark Electronics, Inc.*		369			7,653
Checkpoint Systems, Inc.*		327			7,233
Corning, Inc.		6,385			129,041
Dolby Laboratories, Inc. Class A*		501			29,394
FLIR Systems, Inc.*		686			19,345
Ingram Micro, Inc. Class A*		959			16,830
MTS Systems Corp.		135			3,919
Multi-Fineline Electronix, Inc.*		326			8,398
National Instruments Corp.		251			8,371
Plexus Corp.*		280			10,088
Rofin-Sinar Technologies, Inc.*		184			4,162
Scansource, Inc.*		204			5,871
SYNNEX Corp.*		1			30
Tech Data Corp.*		322			13,492
Trimble Navigation Ltd.*		364			10,454
Total Electronic Equipment, Instruments & Components					339,107
Energy Equipment & Services – 1.9%
Atwood Oceanics, Inc.*		663			22,960
Baker Hughes, Inc.(a)		1,531			71,712
BJ Services Co.		689			14,745
Bristow Group, Inc.*		166			6,263
Cal Dive International, Inc.*		1,916			14,044
Cameron International Corp.*		1,192			51,089
CARBO Ceramics, Inc.		111			6,920
Diamond Offshore Drilling, Inc.(a)		1,150			102,131
Dresser-Rand Group, Inc.*		740			23,251
Dril-Quip, Inc.*		133			8,092
FMC Technologies, Inc.*		503			32,509
Gulfmark Offshore, Inc. Class A*		226			6,000

 

See Notes to Financial Statements.

 

18		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Halliburton Co.		4,627		$	139,412
Helmerich & Payne, Inc.		602			22,924
Hornbeck Offshore Services, Inc.*(a)		301			5,590
Lufkin Industries, Inc.		115			9,102
National Oilwell Varco, Inc.		3,245			131,682
Oceaneering International, Inc.*		209			13,269
Oil States International, Inc.*		396			17,955
Parker Drilling Co.*		1,486			7,326
Patterson-UTI Energy, Inc.		458			6,398
Pride International, Inc.*(a)		1,507			45,376
Rowan Cos., Inc.*(a)		1,148			33,418
RPC, Inc.		573			6,377
SEACOR Holdings, Inc.*		209			16,858
Smith International, Inc.		988			42,306
Superior Energy Services, Inc.*		411			8,639
Tidewater, Inc.		597			28,220
Willbros Group, Inc.*		552			6,630
Total Energy Equipment & Services					901,198
Food & Staples Retailing – 4.6%
BJ’s Wholesale Club, Inc.*(a)		200			7,398
Casey’s General Stores, Inc.		212			6,657
Costco Wholesale Corp.		1,602			95,655
CVS Caremark Corp.		9,629			352,036
Ingles Markets, Inc. Class A		202			3,036
Kroger Co. (The)		4,884			105,787
Pantry, Inc. (The)*		693			8,656
Pricesmart, Inc.		459			10,672
Ruddick Corp.		178			5,632
Safeway, Inc.		3,015			74,953
Spartan Stores, Inc.		661			9,532
SUPERVALU, Inc.		1,831			30,541
Sysco Corp.		3,044			89,798
United Natural Foods, Inc.*		159			4,473
Walgreen Co.		4,283			158,856
Wal-Mart Stores, Inc.		21,658			1,204,185
Whole Foods Market, Inc.*		527			19,051
Total Food & Staples Retailing					2,186,918
Food Products – 2.1%
American Dairy, Inc.*(a)		432			8,273
American Italian Pasta Co. Class A*		276			10,728
Archer-Daniels-Midland Co.		2,815			81,353
Cal-Maine Foods, Inc.		272			9,218
Campbell Soup Co.		1,666			58,893
Chiquita Brands International, Inc.*(a)		235			3,697
ConAgra Foods, Inc.		2,423			60,745
Corn Products International, Inc.		389			13,483
Darling International, Inc.*		777			6,962
Dean Foods Co.*		1,149			18,028
Del Monte Foods Co.		1,483			21,652
Flowers Foods, Inc.(a)		249			6,160
General Mills, Inc.		1,463			103,566
H.J. Heinz Co.		1,464			66,773
Hershey Co. (The)		852			36,474

Investments		Shares		Value
Hormel Foods Corp.(a)		709		$	29,785
J.M. Smucker Co. (The)		543			32,721
Kellogg Co.		1,650			88,159
Kraft Foods, Inc. Class A		6,387			193,143
Lancaster Colony Corp.		119			7,016
McCormick & Co., Inc.		623			23,898
Mead Johnson Nutrition Co.		801			41,676
Ralcorp Holdings, Inc.*		343			23,249
Sara Lee Corp.		1,946			27,108
Seneca Foods Corp. Class A*		390			11,357
Tyson Foods, Inc. Class A		503			9,632
Total Food Products					993,749
Gas Utilities – 0.4%
AGL Resources, Inc.		547			21,142
Atmos Energy Corp.		385			10,999
Energen Corp.		458			21,311
EQT Corp.		182			7,462
Laclede Group, Inc. (The)		90			3,035
National Fuel Gas Co.		163			8,240
New Jersey Resources Corp.		181			6,798
Nicor, Inc.		182			7,629
Northwest Natural Gas Co.		98			4,567
Oneok, Inc.		526			24,012
Piedmont Natural Gas Co., Inc.		225			6,205
Questar Corp.		820			35,424
South Jersey Industries, Inc.		134			5,627
Southwest Gas Corp.		177			5,296
UGI Corp.		778			20,648
WGL Holdings, Inc.		189			6,549
Total Gas Utilities					194,944
Health Care Equipment & Supplies – 2.2%
Align Technology, Inc.*		507			9,805
American Medical Systems Holdings, Inc.*		483			8,974
Baxter International, Inc.		3,018			175,648
Beckman Coulter, Inc.		179			11,241
Becton Dickinson and Co.		1,279			100,696
C.R. Bard, Inc.		497			43,050
Conmed Corp.*		138			3,286
Cooper Cos., Inc. (The)		235			9,137
Cyberonics, Inc.*		453			8,679
DENTSPLY International, Inc.		689			24,012
Edwards Lifesciences Corp.*		132			13,052
Gen-Probe, Inc.*		120			6,000
Greatbatch, Inc.*		483			10,235
Haemonetics Corp.*		67			3,829
Hill-Rom Holdings, Inc.		208			5,660
Hospira, Inc.*		731			41,411
IDEXX Laboratories, Inc.*(a)		180			10,359
Immucor, Inc.*		183			4,097
Intuitive Surgical, Inc.*		46			16,014
Kinetic Concepts, Inc.*		409			19,554
Medtronic, Inc.		4,783			215,378
ResMed, Inc.*		327			20,814

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		19

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
St. Jude Medical, Inc.*		910		$	37,356
STERIS Corp.		229			7,708
Stryker Corp.		1,712			97,961
SurModics, Inc.*(a)		366			7,664
Symmetry Medical, Inc.*		1,173			11,777
Teleflex, Inc.		250			16,017
Varian Medical Systems, Inc.*(a)		619			34,249
West Pharmaceutical Services, Inc.		112			4,698
Zimmer Holdings, Inc.*		963			57,010
Total Health Care Equipment & Supplies					1,035,371
Health Care Providers & Services – 4.0%
Aetna, Inc.		2,881			101,152
Amedisys, Inc.*(a)		320			17,670
AMERIGROUP Corp.*		292			9,706
AmerisourceBergen Corp.		1,645			47,573
Amsurg Corp.*		155			3,346
Cardinal Health, Inc.		2,303			82,977
Catalyst Health Solutions, Inc.*		165			6,828
Centene Corp.*		249			5,986
Chemed Corp.		113			6,145
CIGNA Corp.		1,761			64,417
Community Health Systems, Inc.*		611			22,564
Coventry Health Care, Inc.*		982			24,275
DaVita, Inc.*		552			34,997
Emergency Medical Services Corp. Class A*		138			7,804
Ensign Group, Inc. (The)		615			10,658
Express Scripts, Inc.*		827			84,156
Five Star Quality Care, Inc.*		2,715			8,281
Gentiva Health Services, Inc.*		178			5,034
Hanger Orthopedic Group, Inc.*		647			11,762
Health Management Associates, Inc. Class A*		1,851			15,919
Health Net, Inc.*		461			11,465
Healthsouth Corp.*		480			8,976
Healthspring, Inc.*		853			15,013
Healthways, Inc.*		301			4,837
Henry Schein, Inc.*		485			28,566
Humana, Inc.*		1,805			84,420
inVentiv Health, Inc.*		272			6,109
Kindred Healthcare, Inc.*		269			4,855
Laboratory Corp. of America Holdings*(a)		559			42,322
Landauer, Inc.		154			10,044
LHC Group, Inc.*		258			8,651
LifePoint Hospitals, Inc.*		315			11,586
Lincare Holdings, Inc.*		366			16,426
Magellan Health Services, Inc.*		143			6,218
McKesson Corp.		1,556			102,260
Medco Health Solutions, Inc.*		1,599			103,231
Mednax, Inc.*		204			11,871
Molina Healthcare, Inc.*		207			5,210
National Healthcare Corp.		247			8,739
Odyssey HealthCare, Inc.*		594			10,757
Omnicare, Inc.		940			26,593
Owens & Minor, Inc.		140			6,495

Investments		Shares		Value
Patterson Cos., Inc.		478		$	14,842
PSS World Medical, Inc.*		186			4,373
Psychiatric Solutions, Inc.*		621			18,506
Quest Diagnostics, Inc.		963			56,133
Skilled Healthcare Group, Inc. Class A*		1,210			7,466
Sun Healthcare Group, Inc.*		1,279			12,202
Tenet Healthcare Corp.*		2,835			16,216
Triple-S Management Corp. Class B*		551			9,780
UnitedHealth Group, Inc.		10,109			330,261
Universal American Corp.*		1,346			20,728
Universal Health Services, Inc. Class B		778			27,300
VCA Antech, Inc.*(a)		317			8,886
WellPoint, Inc.*		4,185			269,430
Total Health Care Providers & Services					1,902,017
Health Care Technology – 0.0%
Cerner Corp.*		202			17,182
Eclipsys Corp.*		254			5,050
Total Health Care Technology					22,232
Hotels, Restaurants & Leisure – 1.7%
Ameristar Casinos, Inc.(a)		394			7,179
Bally Technologies, Inc.*		254			10,297
Bob Evans Farms, Inc.		166			5,131
Brinker International, Inc.		643			12,397
Burger King Holdings, Inc.		890			18,921
CEC Entertainment, Inc.*		142			5,409
Cheesecake Factory (The)*		390			10,553
Chipotle Mexican Grill, Inc.*		67			7,549
Choice Hotels International, Inc.(a)		185			6,440
CKE Restaurants, Inc.		1,097			12,144
Cracker Barrel Old Country Store, Inc.		159			7,374
Darden Restaurants, Inc.		936			41,690
Domino’s Pizza, Inc.*		662			9,030
Einstein Noah Restaurant Group, Inc.*		1,027			12,478
International Game Technology		709			13,081
International Speedway Corp. Class A		204			5,257
Interval Leisure Group, Inc.*		738			10,745
Jack In The Box, Inc.*		642			15,119
Life Time Fitness, Inc.*(a)		339			9,526
McDonald’s Corp.		5,541			369,696
Panera Bread Co. Class A*		68			5,201
Papa John’s International, Inc.*		384			9,873
Penn National Gaming, Inc.*		273			7,589
Sonic Corp.*		271			2,995
Speedway Motorsports, Inc.		776			12,113
Starbucks Corp.		1,326			32,182
Starwood Hotels & Resorts Worldwide, Inc.(a)		304			14,179
Texas Roadhouse, Inc.*		826			11,473
Vail Resorts, Inc.*		201			8,058
WMS Industries, Inc.*(a)		143			5,997
Wyndham Worldwide Corp.		801			20,610
Yum! Brands, Inc.		2,312			88,619
Total Hotels, Restaurants & Leisure					808,905

 

See Notes to Financial Statements.

 

20		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Household Durables – 0.2%
Blyth, Inc.		117		$	3,656
Jarden Corp.		132			4,394
Leggett & Platt, Inc.		419			9,067
National Presto Industries, Inc.		91			10,821
Newell Rubbermaid, Inc.		1,302			19,791
NVR, Inc.*		26			18,889
Stanley Black & Decker, Inc.		363			20,840
Tempur-Pedic International, Inc.*(a)		224			6,756
Tupperware Brands Corp.		164			7,908
Whirlpool Corp.		188			16,403
Total Household Durables					118,525
Household Products – 2.5%
Central Garden and Pet Co. Class A*		896			8,207
Church & Dwight Co., Inc.		338			22,629
Clorox Co.		707			45,347
Colgate-Palmolive Co.		2,036			173,590
Energizer Holdings, Inc.*		315			19,770
Kimberly-Clark Corp.		2,107			132,488
Procter & Gamble Co. (The)		12,526			792,520
WD-40 Co.		281			9,225
Total Household Products					1,203,776
Independent Power Producers & Energy Traders – 0.2%
AES Corp. (The)*		1,369			15,059
Calpine Corp.*		1,348			16,028
NRG Energy, Inc.*		3,639			76,055
Ormat Technologies, Inc.		114			3,208
Total Independent Power Producers & Energy Traders					110,350
Industrial Conglomerates – 2.5%
3M Co.		2,174			181,681
Carlisle Cos., Inc.		118			4,496
General Electric Co.		55,033			1,001,601
Seaboard Corp.		5			6,495
Total Industrial Conglomerates					1,194,273
Insurance – 6.5%
Alleghany Corp.*		44			12,795
Allstate Corp. (The)		1,856			59,967
American Family Life Assurance Co., Inc.		3,817			207,225
American Financial Group, Inc.		1,602			45,577
American Physicians Capital, Inc.		94			3,003
AMERISAFE, Inc.*		162			2,652
Amtrust Financial Services, Inc.		646			9,012
AON Corp.		842			35,962
Arthur J. Gallagher & Co.		272			6,678
Assurant, Inc.		1,349			46,379
Berkshire Hathaway, Inc. Class B*		11,300			918,351
Brown & Brown, Inc.		868			15,555
Chubb Corp.		3,631			188,267
Cincinnati Financial Corp.		987			28,524
CNA Financial Corp.*		1,917			51,222

Investments		Shares		Value
CNA Surety Corp.*		921		$	16,385
Delphi Financial Group, Inc. Class A		761			19,147
Employers Holdings, Inc.		371			5,509
Erie Indemnity Co. Class A		202			8,712
FBL Financial Group, Inc. Class A		482			11,799
Fidelity National Financial, Inc. Class A		819			12,138
First American Corp.		142			4,805
First Mercury Financial Corp.		663			8,639
FPIC Insurance Group, Inc.*		103			2,792
Hanover Insurance Group, Inc. (The)(a)		371			16,179
Harleysville Group, Inc.		161			5,435
HCC Insurance Holdings, Inc.		1,010			27,876
Horace Mann Educators Corp.		274			4,126
Infinity Property & Casualty Corp.		316			14,359
Lincoln National Corp.		1,399			42,949
Loews Corp.		368			13,719
Markel Corp.*		68			25,477
Marsh & McLennan Cos., Inc.		189			4,615
MBIA, Inc.*(a)		5,452			34,184
Mercury General Corp.		184			8,045
Metlife, Inc.		2,124			92,054
National Interstate Corp.		503			10,417
National Western Life Insurance Co. Class A		51			9,402
Navigators Group, Inc.*		270			10,619
Principal Financial Group, Inc.		2,336			68,235
ProAssurance Corp.*		338			19,787
Progressive Corp. (The)		4,553			86,917
Protective Life Corp.		530			11,655
Prudential Financial, Inc.		4,404			266,442
Reinsurance Group of America, Inc.		735			38,602
RLI Corp.		255			14,540
Safety Insurance Group, Inc.		109			4,106
Selective Insurance Group		141			2,341
StanCorp Financial Group, Inc.		501			23,863
Torchmark Corp.		894			47,838
Tower Group, Inc.		165			3,658
Transatlantic Holdings, Inc.		825			43,560
Travelers Cos., Inc. (The)		5,604			302,280
Unitrin, Inc.		417			11,697
Universal Insurance Holdings, Inc.		1,254			6,345
Unum Group		3,384			83,822
W.R. Berkley Corp.		1,165			30,395
Wesco Financial Corp.		4			1,542
Zenith National Insurance Corp.		139			5,326
Total Insurance					3,113,502
Internet & Catalog Retail – 0.3%
Amazon.com, Inc.*		481			65,286
NetFlix, Inc.*(a)		154			11,356
priceline.com, Inc.*		178			45,390
Total Internet & Catalog Retail					122,032
Internet Software & Services – 1.4%
Akamai Technologies, Inc.*(a)		442			13,883
Digital River, Inc.*		177			5,363

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		21

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Earthlink, Inc.		2,243		$	19,155
eBay, Inc.*		4,969			133,915
Equinix, Inc.*		142			13,822
Google, Inc. Class A*		690			391,237
j2 Global Communications, Inc.*(a)		668			15,631
Limelight Networks, Inc.*		2,413			8,832
Sohu.com, Inc.*		279			15,234
ValueClick, Inc.*		461			4,675
VeriSign, Inc.*		691			17,973
WebMD Health Corp.*		1			46
Yahoo!, Inc.*		1,829			30,233
Total Internet Software & Services					669,999
IT Services – 2.1%
Acxiom Corp.		690			12,379
Alliance Data Systems Corp.*(a)		246			15,742
Automatic Data Processing, Inc.		2,555			113,621
Broadridge Financial Solutions, Inc.		694			14,838
CACI International, Inc. Class A*		116			5,667
Cognizant Technology Solutions Corp. Class A*		1,032			52,611
Computer Sciences Corp.*		1,163			63,372
CSG Systems International, Inc.*		229			4,800
DST Systems, Inc.*		486			20,145
Euronet Worldwide, Inc.*		274			5,050
Fidelity National Information Services, Inc.		799			18,729
Fiserv, Inc.*		799			40,557
Gartner, Inc.*		340			7,562
Global Payments, Inc.		258			11,752
Hewitt Associates, Inc. Class A*		500			19,890
Lender Processing Services, Inc.		488			18,422
Mantech International Corp. Class A*		109			5,322
Mastercard, Inc. Class A		487			123,698
MAXIMUS, Inc.		109			6,641
MoneyGram International, Inc.*		4,121			15,701
NeuStar, Inc. Class A*		277			6,980
Paychex, Inc.		1,415			43,440
SAIC, Inc.*		2,060			36,462
Sapient Corp.		1,162			10,621
SRA International, Inc. Class A*		246			5,114
Syntel, Inc.(a)		186			7,155
TeleTech Holdings, Inc.*		396			6,764
Total System Services, Inc.		1,278			20,013
Visa, Inc. Class A		2,307			210,006
Western Union Co. (The)		3,916			66,415
Wright Express Corp.*		530			15,964
Total IT Services					1,005,433
Leisure Equipment & Products – 0.2%
Hasbro, Inc.		804			30,777
Mattel, Inc.		1,464			33,291
Polaris Industries, Inc.(a)		205			10,488
Pool Corp.		229			5,185
Total Leisure Equipment & Products					79,741
Life Sciences Tools & Services – 0.5%
Bio-Rad Laboratories, Inc. Class A*		68			7,039

Investments		Shares		Value
Bruker Corp.*		716		$	10,489
Charles River Laboratories International, Inc.*(a)		293			11,518
Covance, Inc.*		184			11,296
Dionex Corp.*		41			3,066
Illumina, Inc.*(a)		156			6,068
Mettler-Toledo International, Inc.*		136			14,851
Millipore Corp.*		232			24,499
Parexel International Corp.*		345			8,042
PerkinElmer, Inc.		459			10,970
Pharmaceutical Product Development, Inc.		688			16,340
Techne Corp.		203			12,929
Thermo Fisher Scientific, Inc.*		1,392			71,605
Varian, Inc.*		89			4,609
Waters Corp.*		482			32,554
Total Life Sciences Tools & Services					245,875
Machinery – 1.7%
Actuant Corp. Class A		362			7,077
AGCO Corp.*		387			13,882
Astec Industries, Inc.*		120			3,475
Barnes Group, Inc.		407			7,916
Bucyrus International, Inc.		478			31,543
Caterpillar, Inc.		1,188			74,666
Chart Industries, Inc.*		341			6,820
CIRCOR International, Inc.		158			5,247
CLARCOR, Inc.		159			5,484
Crane Co.		163			5,787
Cummins, Inc.		206			12,762
Danaher Corp.		1,255			100,287
Deere & Co.		1,257			74,741
Donaldson Co., Inc.		248			11,190
Dover Corp.		1,078			50,397
Eaton Corp.		392			29,702
EnPro Industries, Inc.*		226			6,572
ESCO Technologies, Inc.		90			2,863
Federal Signal Corp.		391			3,523
Flowserve Corp.		346			38,153
Graco, Inc.		298			9,536
Harsco Corp.		178			5,685
IDEX Corp.		339			11,221
Illinois Tool Works, Inc.		1,324			62,705
John Bean Technologies Corp.		547			9,594
Joy Global, Inc.		589			33,337
Kaydon Corp.		133			5,001
Middleby Corp.*		120			6,911
Mueller Industries, Inc.		231			6,189
Nordson Corp.		184			12,497
PACCAR, Inc.		364			15,776
Pall Corp.		320			12,957
Parker Hannifin Corp.		414			26,802
Pentair, Inc.		294			10,472
Robbins & Myers, Inc.		250			5,955
Snap-On, Inc.		255			11,052
SPX Corp.		295			19,564

 

See Notes to Financial Statements.

 

22		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Toro Co.(a)		185		$	9,096
Trinity Industries, Inc.(a)		414			8,263
Valmont Industries, Inc.		109			9,028
WABCO Holdings, Inc.*		1			30
Wabtec Corp.		158			6,655
Watts Water Technologies, Inc. Class A		161			5,001
Total Machinery					795,414
Marine – 0.1%
Alexander & Baldwin, Inc.(a)		166			5,486
American Commercial Lines, Inc.*		157			3,941
International Shipholding Corp.		303			8,905
Kirby Corp.*		251			9,576
Total Marine					27,908
Media – 2.4%
Belo Corp. Class A		1			7
Cablevision Systems Corp. Class A		432			10,428
CBS Corp. Class B		1,300			18,122
Comcast Corp. Class A		15,027			282,808
DIRECTV Class A*		3,244			109,680
Discovery Communications, Inc. Class C*		1,533			45,085
DISH Network Corp. Class A		3,567			74,265
DreamWorks Animation SKG, Inc. Class A*		364			14,338
Harte-Hanks, Inc.		596			7,664
Interactive Data Corp.		623			19,936
Interpublic Group of Cos., Inc.*		1,345			11,190
John Wiley & Sons, Inc. Class A		202			8,742
Madison Square Garden, Inc. Class A*		105			2,282
McGraw-Hill Cos., Inc. (The)		1,369			48,805
Meredith Corp.		338			11,631
Morningstar, Inc.*		157			7,550
Omnicom Group, Inc.		1,783			69,198
Regal Entertainment Group Class A		363			6,378
Scholastic Corp.		211			5,908
Scripps Networks Interactive, Inc. Class A		648			28,739
Viacom, Inc. Class B*		2,860			98,327
Walt Disney Co. (The)		7,604			265,456
Washington Post Co. (The) Class B		20			8,884
World Wrestling Entertainment, Inc. Class A		294			5,086
Total Media					1,160,509
Metals & Mining – 0.4%
AMCOL International Corp.		137			3,726
Cliffs Natural Resources, Inc.		276			19,582
Compass Minerals International, Inc.		248			19,897
Haynes International, Inc.		180			6,396
Newmont Mining Corp.		1,258			64,070
Reliance Steel & Aluminum Co.		249			12,258
Southern Copper Corp.		1,170			37,054
Walter Energy, Inc.		346			31,926
Total Metals & Mining					194,909
Multiline Retail – 0.8%
Big Lots, Inc.*		488			17,773
Dollar Tree, Inc.*		497			29,432

Investments		Shares		Value
Family Dollar Stores, Inc.		911		$	33,352
J.C. Penney Co., Inc.		253			8,139
Kohl’s Corp.*		1,401			76,747
Nordstrom, Inc.		800			32,680
Target Corp.		3,686			193,883
Total Multiline Retail					392,006
Multi-Utilities – 1.5%
Alliant Energy Corp.		250			8,315
Ameren Corp.		1,307			34,087
Avista Corp.		231			4,784
Centerpoint Energy, Inc.		1,762			25,302
CH Energy Group, Inc.		212			8,658
CMS Energy Corp.(a)		1,172			18,119
Consolidated Edison, Inc.		896			39,908
Dominion Resources, Inc.		3,249			133,566
DTE Energy Co.		894			39,872
Integrys Energy Group, Inc.(a)		223			10,566
NiSource, Inc.		1,027			16,227
NorthWestern Corp.		182			4,880
NSTAR		550			19,481
OGE Energy Corp.		440			17,134
PG&E Corp.		1,692			71,775
Public Service Enterprise Group, Inc.		3,591			106,006
SCANA Corp.		670			25,185
Sempra Energy		1,538			76,746
TECO Energy, Inc.		690			10,964
Vectren Corp.		274			6,773
Wisconsin Energy Corp.		276			13,637
Xcel Energy, Inc.		2,083			44,160
Total Multi-Utilities					736,145
Office Electronics – 0.1%
Xerox Corp.		4,140			40,365
Zebra Technologies Corp. Class A*		293			8,673
Total Office Electronics					49,038
Oil, Gas & Consumable Fuels – 7.3%
Arch Coal, Inc.		393			8,980
Arena Resources, Inc.*		154			5,144
Berry Petroleum Co. Class A		1			28
Bill Barrett Corp.*		235			7,217
Cabot Oil & Gas Corp.		143			5,262
Chevron Corp.		10,587			802,812
CNX Gas Corp.*		661			25,151
Concho Resources, Inc.*		205			10,324
Consol Energy, Inc.		1,014			43,257
Contango Oil & Gas Co.*		74			3,785
CVR Energy, Inc.*		1,231			10,771
EOG Resources, Inc.		546			50,745
Exxon Mobil Corp.		25,162			1,685,351
Frontier Oil Corp.		1,055			14,242
Hess Corp.		294			18,390
Holly Corp.		324			9,043
Marathon Oil Corp.		3,772			119,346

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		23

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Massey Energy Co.		256		$	13,386
Murphy Oil Corp.		799			44,896
Noble Energy, Inc.		163			11,899
Occidental Petroleum Corp.		2,564			216,761
Patriot Coal Corp.*		922			18,864
Peabody Energy Corp.		1,126			51,458
Range Resources Corp.		110			5,156
Southern Union Co.		694			17,607
Spectra Energy Corp.		3,215			72,434
Tesoro Corp.		573			7,965
Western Refining, Inc.*(a)		526			2,893
Williams Cos., Inc. (The)		1,350			31,185
World Fuel Services Corp.(a)		482			12,840
XTO Energy, Inc.		3,176			149,844
Total Oil, Gas & Consumable Fuels					3,477,036
Paper & Forest Products – 0.2%
Buckeye Technologies, Inc.*		988			12,923
Clearwater Paper Corp.*		211			10,392
Glatfelter		755			10,940
International Paper Co.		1,533			37,727
KapStone Paper and Packaging Corp.*		1,033			12,262
Verso Paper Corp.*		4,067			12,363
Total Paper & Forest Products					96,607
Personal Products – 0.3%
Alberto-Culver Co.		278			7,270
American Oriental Bioengineering, Inc.*(a)		2,193			8,947
Avon Products, Inc.		1,510			51,144
Estee Lauder Cos., Inc. (The) Class A		508			32,954
NBTY, Inc.*		279			13,386
Nu Skin Enterprises, Inc. Class A		276			8,032
Total Personal Products					121,733
Pharmaceuticals – 6.4%
Abbott Laboratories		8,219			432,977
Allergan, Inc.		818			53,432
Bristol-Myers Squibb Co.		9,546			254,878
Endo Pharmaceuticals Holdings, Inc.*		847			20,065
Forest Laboratories, Inc.*		1,857			58,236
Johnson & Johnson		14,702			958,570
Merck & Co., Inc.		13,442			502,059
Mylan, Inc.(a)		490			11,128
Par Pharmaceutical Cos., Inc.*		364			9,027
Perrigo Co.		456			26,776
Pfizer, Inc.		41,598			713,406
Questcor Pharmaceuticals, Inc.*		822			6,765
Watson Pharmaceuticals, Inc.*		566			23,642
Total Pharmaceuticals					3,070,961
Professional Services – 0.2%
Administaff, Inc.		177			3,777
Corporate Executive Board Co. (The)		200			5,318
Dun & Bradstreet Corp.		294			21,880
Equifax, Inc.(a)		477			17,077
FTI Consulting, Inc.*		160			6,291

Investments		Shares		Value
IHS, Inc. Class A*		296		$	15,827
Manpower, Inc.		154			8,796
Robert Half International, Inc.(a)		254			7,729
Towers Watson & Co. Class A		158			7,505
Total Professional Services					94,200
Real Estate Investment Trusts (REITs) – 0.9%
Alexander’s, Inc.*		49			14,657
Alexandria Real Estate Equities, Inc.		88			5,949
BioMed Realty Trust, Inc.		341			5,640
Boston Properties, Inc.		87			6,563
BRE Properties, Inc.		112			4,004
Cogdell Spencer, Inc.		1,577			11,670
DiamondRock Hospitality Co.*		623			6,299
Digital Realty Trust, Inc.(a)		186			10,081
Equity Lifestyle Properties, Inc.		182			9,806
Equity One, Inc.		234			4,420
Essex Property Trust, Inc.		110			9,894
Extra Space Storage, Inc.		776			9,840
Federal Realty Investment Trust		90			6,553
Getty Realty Corp.		394			9,220
HCP, Inc.		321			10,593
Health Care REIT, Inc.		179			8,096
Hospitality Properties Trust		865			20,717
HRPT Properties Trust		1,399			10,884
Liberty Property Trust(a)		248			8,417
LTC Properties, Inc.		325			8,794
Macerich Co. (The)		521			19,959
Mack-Cali Realty Corp.		178			6,274
Medical Properties Trust, Inc.		937			9,820
National Health Investors, Inc.		135			5,233
National Retail Properties, Inc.		315			7,191
Nationwide Health Properties, Inc.		225			7,909
Omega Healthcare Investors, Inc.		297			5,789
Plum Creek Timber Co., Inc.(a)		691			26,887
Potlatch Corp.		138			4,836
Public Storage		648			59,610
Rayonier, Inc.		525			23,851
Realty Income Corp.(a)		206			6,322
Senior Housing Properties Trust		350			7,752
Simon Property Group, Inc.		348			29,197
Ventas, Inc.		275			13,057
Weingarten Realty Investors(a)		255			5,498
Total Real Estate Investment Trusts (REITs)					421,282
Real Estate Management & Development – 0.0%
Forestar Group, Inc.*		414			7,816
Road & Rail – 0.8%
CSX Corp.		1,923			97,881
Genesee & Wyoming, Inc. Class A*		114			3,890
Heartland Express, Inc.		226			3,729
JB Hunt Transport Services, Inc.		344			12,343
Kansas City Southern*		131			4,738
Knight Transportation, Inc.		184			3,881
Landstar System, Inc.		142			5,961

 

See Notes to Financial Statements.

 

24		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Norfolk Southern Corp.		1,644		$	91,883
Old Dominion Freight Line, Inc.*		161			5,376
Union Pacific Corp.		2,335			171,155
Werner Enterprises, Inc.		188			4,356
Total Road & Rail					405,193
Semiconductors & Semiconductor Equipment – 0.9%
Altera Corp.		848			20,615
Amkor Technology, Inc.*(a)		1,509			10,669
Analog Devices, Inc.		761			21,932
Cymer, Inc.*		229			8,542
Hittite Microwave Corp.*		211			9,278
Intel Corp.		9,925			220,930
Linear Technology Corp.		762			21,549
Microchip Technology, Inc.(a)		373			10,504
PMC – Sierra, Inc.*		1			9
Sigma Designs, Inc.*(a)		501			5,877
Skyworks Solutions, Inc.*		416			6,489
Tessera Technologies, Inc.*		362			7,341
Texas Instruments, Inc.		2,944			72,040
Xilinx, Inc.		987			25,168
Total Semiconductors & Semiconductor Equipment					440,943
Software – 4.3%
Activision Blizzard, Inc.		2,529			30,500
Adobe Systems, Inc.*		1,371			48,492
Ansys, Inc.*		204			8,800
BMC Software, Inc.*		799			30,362
CA, Inc.		2,608			61,210
Citrix Systems, Inc.*		346			16,425
Compuware Corp.*		1,102			9,257
FactSet Research Systems, Inc.(a)		156			11,446
Fair Isaac Corp.		298			7,551
Informatica Corp.*		274			7,360
Intuit, Inc.*		1,211			41,586
Jack Henry & Associates, Inc.		294			7,074
McAfee, Inc.*		211			8,467
MICROS Systems, Inc.*		345			11,344
Microsoft Corp.		38,163			1,117,031
MicroStrategy, Inc. Class A*		98			8,337
Net 1 UEPS Technologies, Inc.*		409			7,521
Oracle Corp.		19,394			498,232
Parametric Technology Corp.*		409			7,382
Progress Software Corp.*		184			5,783
Quest Software, Inc.*		525			9,340
Red Hat, Inc.*		366			10,713
S1 Corp.*		1,464			8,637
Salesforce.com, Inc.*		138			10,274
Sybase, Inc.*		348			16,224
Synopsys, Inc.*		910			20,357
TeleCommunication Systems, Inc. Class A*		1,033			7,572
TIBCO Software, Inc.*		617			6,657
Tyler Technologies, Inc.*		474			8,883

Investments		Shares		Value
VMware, Inc. Class A*		500		$	26,650
Total Software					2,069,467
Specialty Retail – 2.8%
Aaron’s, Inc.		177			5,901
Advance Auto Parts, Inc.(a)		557			23,349
Aeropostale, Inc.*		580			16,721
American Eagle Outfitters, Inc.		638			11,816
AutoNation, Inc.*(a)		1,093			19,761
AutoZone, Inc.*		342			59,197
Barnes & Noble, Inc.		320			6,918
Bed Bath & Beyond, Inc.*(a)		1,058			46,298
Best Buy Co., Inc.		2,221			94,481
Buckle, Inc. (The)(a)		248			9,116
Cabela’s, Inc.*(a)		550			9,620
CarMax, Inc.*(a)		596			14,972
Cato Corp. (The) Class A		455			9,755
Childrens Place Retail Stores, Inc. (The)*		301			13,410
Collective Brands, Inc.*		317			7,209
Dick’s Sporting Goods, Inc.*		457			11,932
Dress Barn, Inc.*		390			10,202
GameStop Corp. Class A*		1,445			31,660
Gap, Inc. (The)		3,840			88,742
Group 1 Automotive, Inc.*		324			10,323
Guess ?, Inc.		415			19,497
Gymboree Corp.*		200			10,326
Home Depot, Inc.		6,964			225,285
J Crew Group, Inc.*(a)		157			7,206
JOS A Bank Clothiers, Inc.*		120			6,558
Lowe’s Cos., Inc.		6,091			147,646
Ltd. Brands, Inc.		1,049			25,826
Men’s Wearhouse, Inc. (The)		278			6,655
O’Reilly Automotive, Inc.*		663			27,654
PetSmart, Inc.		463			14,798
RadioShack Corp.		870			19,688
Rent-A-Center, Inc.*		847			20,032
Ross Stores, Inc.		795			42,509
Sally Beauty Holdings, Inc.*		785			7,002
Sherwin-Williams Co. (The)		589			39,864
Staples, Inc.		2,609			61,025
Systemax, Inc.		364			7,913
Tiffany & Co.		304			14,437
TJX Cos., Inc.		2,399			102,006
Tractor Supply Co.		116			6,734
Urban Outfitters, Inc.*		432			16,429
Total Specialty Retail					1,330,473
Textiles, Apparel & Luxury Goods – 0.8%
Carter’s, Inc.*		228			6,874
Coach, Inc.		1,442			56,988
Columbia Sportswear Co.(a)		160			8,405
Deckers Outdoor Corp.*		65			8,970
Fossil, Inc.*		202			7,623
Hanesbrands, Inc.*		209			5,814
Iconix Brand Group, Inc.*		369			5,668

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		25

---

Table of Contents

Schedule of Investments (concluded)

WisdomTree Total Earnings Fund (EXT)

March 31, 2010

  

 

 

Investments		Shares		Value
Maidenform Brands, Inc.*		552		$	12,061
NIKE, Inc. Class B		2,288			168,168
Phillips-Van Heusen Corp.		141			8,088
Polo Ralph Lauren Corp.		419			35,632
Timberland Co. (The) Class A*		275			5,868
Under Armour, Inc. Class A*(a)		132			3,882
Unifirst Corp.		121			6,232
VF Corp.		479			38,392
Warnaco Group, Inc. (The)*		211			10,067
Wolverine World Wide, Inc.		223			6,503
Total Textiles, Apparel & Luxury Goods					395,235
Thrifts & Mortgage Finance – 0.3%
Astoria Financial Corp.		249			3,611
Capitol Federal Financial		96			3,596
Dime Community Bancshares		807			10,192
First Niagara Financial Group, Inc.		319			4,536
Flushing Financial Corp.		841			10,647
Hudson City Bancorp, Inc.		3,018			42,735
New York Community Bancorp, Inc.(a)		1,921			31,773
NewAlliance Bancshares, Inc.		758			9,566
Northwest Bancshares, Inc.		392			4,602
People’s United Financial, Inc.		541			8,461
TFS Financial Corp.		299			3,992
Washington Federal, Inc.		211			4,288
Total Thrifts & Mortgage Finance					137,999
Tobacco – 2.2%
Alliance One International, Inc.*		2,012			10,241
Altria Group, Inc.		12,777			262,184
Lorillard, Inc.		980			73,735
Philip Morris International, Inc.		10,771			561,815
Reynolds American, Inc.		1,806			97,488
Universal Corp.		365			19,232
Vector Group Ltd.		302			4,660
Total Tobacco					1,029,355
Trading Companies & Distributors – 0.3%
Applied Industrial Technologies, Inc.		269			6,685
Beacon Roofing Supply, Inc.*		553			10,579
Fastenal Co.(a)		367			17,612
GATX Corp.		321			9,196
H&E Equipment Services, Inc.*		481			5,185
Interline Brands, Inc.*		294			5,627
MSC Industrial Direct Co. Class A		269			13,644
TAL International Group, Inc.		250			4,995
W.W. Grainger, Inc.		366			39,572
Watsco, Inc.		109			6,200
WESCO International, Inc.*		569			19,750
Total Trading Companies & Distributors					139,045
Water Utilities – 0.1%
American States Water Co.		256			8,883
American Water Works Co., Inc.		712			15,493
Aqua America, Inc.		273			4,797
Total Water Utilities					29,173

Investments		Shares		Value
Wireless Telecommunication Services – 0.2%
American Tower Corp. Class A*		556		$	23,691
MetroPCS Communications, Inc.*(a)		1,691			11,972
NII Holdings, Inc.*		866			36,077
Syniverse Holdings, Inc.*		459			8,937
Telephone & Data Systems, Inc.		796			26,945
USA Mobility, Inc.		876			11,099
Total Wireless Telecommunication Services					118,721
TOTAL COMMON STOCKS (Cost: $48,008,799)					47,631,448
SHORT-TERM INVESTMENT – 1.0%
MONEY MARKET FUND – 1.0%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $478,182)		478,182			478,182
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.7%
MONEY MARKET FUND – 2.7%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $1,285,010)(d)		1,285,010			1,285,010
TOTAL INVESTMENTS IN SECURITIES – 103.4% (Cost: $49,771,991)					49,394,640
Liabilities in Excess of Other Assets – (3.4)%					(1,605,657	)
NET ASSETS – 100.0%				$	47,788,983

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $1,251,514 and the total market value of the collateral held by the Fund was $1,285,010.

 

See Notes to Financial Statements.

 

26		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments

WisdomTree Earnings 500 Fund (EPS)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.7%
Aerospace & Defense – 3.0%
Alliant Techsystems, Inc.*		332		$	26,992
General Dynamics Corp.		4,462			344,467
Goodrich Corp.		1,250			88,150
Honeywell International, Inc.		6,231			282,077
ITT Corp.		1,171			62,777
L-3 Communications Holdings, Inc.		1,482			135,796
Lockheed Martin Corp.		3,528			293,600
Northrop Grumman Corp.		1,986			130,222
Precision Castparts Corp.		1,265			160,288
Raytheon Co.		4,034			230,422
Rockwell Collins, Inc.		1,427			89,316
United Technologies Corp.		6,523			480,158
Total Aerospace & Defense					2,324,265
Air Freight & Logistics – 0.4%
C.H. Robinson Worldwide, Inc.(a)		909			50,768
Expeditors International Washington, Inc.		1,068			39,431
United Parcel Service, Inc. Class B		3,762			242,310
Total Air Freight & Logistics					332,509
Automobiles – 0.0%
Harley-Davidson, Inc.		1,443			40,505
Beverages – 2.8%
Brown-Forman Corp. Class B(a)		1,240			73,718
Coca-Cola Co. (The)		16,402			902,110
Coca-Cola Enterprises, Inc.		4,479			123,889
Constellation Brands, Inc. Class A*		744			12,231
Dr. Pepper Snapple Group, Inc.		2,706			95,170
Hansen Natural Corp.*		555			24,076
Molson Coors Brewing Co. Class B		1,513			63,637
PepsiCo, Inc.		13,678			904,937
Total Beverages					2,199,768
Biotechnology – 1.9%
Alexion Pharmaceuticals, Inc.*		222			12,070
Amgen, Inc.*		12,513			747,777
Biogen Idec, Inc.*		2,603			149,308
Celgene Corp.*		1,059			65,616
Cephalon, Inc.*		659			44,667
Genzyme Corp.*		1,465			75,931
Gilead Sciences, Inc.*		8,279			376,529
Total Biotechnology					1,471,898
Capital Markets – 2.4%
Ameriprise Financial, Inc.		645			29,257
BlackRock, Inc.		441			96,032
Charles Schwab Corp. (The)		7,687			143,670
Eaton Vance Corp.		633			21,231
Franklin Resources, Inc.		1,433			158,920
Goldman Sachs Group, Inc. (The)		4,692			800,596
Northern Trust Corp.		2,498			138,039
Raymond James Financial, Inc.		972			25,991
SEI Investments Co.		1,483			32,582
State Street Corp.		5,616			253,506

Investments		Shares		Value
T. Rowe Price Group, Inc.		1,136		$	62,401
TD Ameritrade Holding Corp.*(a)		5,233			99,741
Total Capital Markets					1,861,966
Chemicals – 1.5%
Air Products & Chemicals, Inc.		1,094			80,901
Airgas, Inc.		718			45,679
Albemarle Corp.		458			19,525
Celanese Corp. Series A		1,471			46,851
CF Industries Holdings, Inc.		836			76,227
Eastman Chemical Co.		256			16,302
Ecolab, Inc.		1,126			49,488
FMC Corp.		489			29,604
International Flavors & Fragrances, Inc.(a)		572			27,267
Lubrizol Corp.		606			55,582
Monsanto Co.		3,751			267,897
Mosaic Co. (The)		2,325			141,290
PPG Industries, Inc.		558			36,493
Praxair, Inc.		1,946			161,518
Sigma-Aldrich Corp.(a)		935			50,172
Terra Industries, Inc.		1,580			72,301
Total Chemicals					1,177,097
Commercial Banks – 1.8%
BB&T Corp.		4,433			143,585
BOK Financial Corp.		582			30,520
Commerce Bancshares, Inc.		604			24,849
Cullen/Frost Bankers, Inc.		538			30,020
M&T Bank Corp.(a)		670			53,185
PNC Financial Services Group, Inc.		1,862			111,161
U.S. Bancorp		9,542			246,947
Wells Fargo & Co.		24,628			766,423
Total Commercial Banks					1,406,690
Commercial Services & Supplies – 0.4%
Cintas Corp.(a)		1,111			31,208
Corrections Corp. of America*		886			17,596
Iron Mountain, Inc.		1,017			27,866
Pitney Bowes, Inc.(a)		2,194			53,643
Republic Services, Inc.		1,282			37,204
Stericycle, Inc.*		451			24,579
Waste Management, Inc.		4,056			139,648
Total Commercial Services & Supplies					331,744
Communications Equipment – 1.9%
3Com Corp.*		632			4,860
Cisco Systems, Inc.*		36,733			956,160
F5 Networks, Inc.*		268			16,485
Harris Corp.		1,301			61,784
Juniper Networks, Inc.*		1,417			43,474
QUALCOMM, Inc.		9,209			386,686
Total Communications Equipment					1,469,449
Computers & Peripherals – 5.5%
Apple, Inc.*		4,403			1,034,397
Dell, Inc.*		16,161			242,577
EMC Corp.*		8,553			154,296

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		27

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Earnings 500 Fund (EPS)

March 31, 2010

  

 

 

Investments		Shares		Value
Hewlett-Packard Co.		20,764		$	1,103,606
International Business Machines Corp.		11,936			1,530,792
NetApp, Inc.*		1,261			41,058
Teradata Corp.*		1,143			33,021
Western Digital Corp.*		2,212			86,246
Total Computers & Peripherals					4,225,993
Construction & Engineering – 0.4%
Aecom Technology Corp.*		1,027			29,136
Fluor Corp.		2,384			110,880
Jacobs Engineering Group, Inc.*		1,492			67,424
KBR, Inc.		2,439			54,048
Quanta Services, Inc.*		1,176			22,532
URS Corp.*		804			39,886
Total Construction & Engineering					323,906
Construction Materials – 0.0%
Martin Marietta Materials, Inc.(a)		218			18,214
Vulcan Materials Co.		29			1,370
Total Construction Materials					19,584
Consumer Finance – 0.1%
American Express Co.		2,777			114,579
Containers & Packaging – 0.2%
Ball Corp.		806			43,024
Bemis Co., Inc.		811			23,292
Crown Holdings, Inc.*		799			21,541
Pactiv Corp.*		1,054			26,540
Sealed Air Corp.(a)		1,546			32,590
Sonoco Products Co.		499			15,364
Total Containers & Packaging					162,351
Distributors – 0.1%
Genuine Parts Co.		1,330			56,179
Diversified Consumer Services – 0.3%
Apollo Group, Inc. Class A*		1,590			97,451
DeVry, Inc.		564			36,773
H&R Block, Inc.		3,655			65,059
ITT Educational Services, Inc.*		418			47,017
Total Diversified Consumer Services					246,300
Diversified Financial Services – 2.2%
Bank of America Corp.		39,205			699,809
CME Group, Inc.		393			124,231
IntercontinentalExchange, Inc.*		410			45,994
JPMorgan Chase & Co.		15,793			706,737
Moody’s Corp.(a)		2,167			64,468
MSCI, Inc. Class A*		306			11,047
NASDAQ OMX Group (The)*		2,312			48,829
Total Diversified Financial Services					1,701,115
Diversified Telecommunication Services – 2.5%
AT&T, Inc.		43,792			1,131,585
CenturyTel, Inc.		1,676			59,431
Qwest Communications International, Inc.		9,752			50,905
Verizon Communications, Inc.		19,528			605,759

Investments		Shares		Value
Windstream Corp.		4,821		$	52,501
Total Diversified Telecommunication Services					1,900,181
Electric Utilities – 2.2%
Allegheny Energy, Inc.		1,730			39,790
American Electric Power Co., Inc.		4,360			149,025
DPL, Inc.		1,242			33,770
Duke Energy Corp.		10,203			166,513
Edison International		2,725			93,113
Entergy Corp.		1,896			154,239
Exelon Corp.		7,249			317,579
FirstEnergy Corp.		2,128			83,183
FPL Group, Inc.		4,208			203,373
Northeast Utilities		1,326			36,651
Pepco Holdings, Inc.		1,663			28,520
Pinnacle West Capital Corp.		104			3,924
PPL Corp.		2,001			55,448
Progress Energy, Inc.		2,705			106,469
Southern Co.		6,643			220,282
Total Electric Utilities					1,691,879
Electrical Equipment – 0.6%
AMETEK, Inc.		669			27,737
Emerson Electric Co.		5,845			294,237
First Solar, Inc.*(a)		680			83,402
Rockwell Automation, Inc.		480			27,053
Roper Industries, Inc.		645			37,307
Total Electrical Equipment					469,736
Electronic Equipment, Instruments & Components – 0.5%
Amphenol Corp. Class A		1,138			48,012
Arrow Electronics, Inc.*		526			15,849
Avnet, Inc.*		770			23,100
Corning, Inc.		12,536			253,353
Dolby Laboratories, Inc. Class A*		796			46,701
FLIR Systems, Inc.*		1,151			32,458
Total Electronic Equipment, Instruments & Components					419,473
Energy Equipment & Services – 1.7%
Baker Hughes, Inc.(a)		2,897			135,696
BJ Services Co.		1,402			30,003
Cameron International Corp.*		2,079			89,106
Diamond Offshore Drilling, Inc.(a)		2,088			185,435
FMC Technologies, Inc.*		915			59,136
Halliburton Co.		8,349			251,555
Helmerich & Payne, Inc.		1,339			50,989
National Oilwell Varco, Inc.		5,990			243,074
Oceaneering International, Inc.*		492			31,237
Pride International, Inc.*(a)		2,568			77,323
Rowan Cos., Inc.*(a)		2,168			63,111
Smith International, Inc.		1,848			79,131
Total Energy Equipment & Services					1,295,796
Food & Staples Retailing – 5.0%
Costco Wholesale Corp.		2,831			169,039

 

See Notes to Financial Statements.

 

28		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Earnings 500 Fund (EPS)

March 31, 2010

  

 

 

Investments		Shares		Value
CVS Caremark Corp.		17,333		$	633,694
Kroger Co. (The)		8,818			190,998
Safeway, Inc.		5,467			135,910
SUPERVALU, Inc.		3,538			59,014
Sysco Corp.		5,475			161,512
Walgreen Co.		7,952			294,940
Wal-Mart Stores, Inc.		39,220			2,180,632
Whole Foods Market, Inc.*		675			24,401
Total Food & Staples Retailing					3,850,140
Food Products – 2.1%
Archer-Daniels-Midland Co.		5,231			151,176
Campbell Soup Co.		3,036			107,323
ConAgra Foods, Inc.		4,402			110,358
Dean Foods Co.*		2,125			33,341
General Mills, Inc.		2,649			187,523
H.J. Heinz Co.		2,718			123,968
Hershey Co. (The)		1,559			66,741
Hormel Foods Corp.(a)		1,249			52,471
J.M. Smucker Co. (The)		950			57,247
Kellogg Co.		2,998			160,183
Kraft Foods, Inc. Class A		11,609			351,056
McCormick & Co., Inc.		1,051			40,316
Mead Johnson Nutrition Co.		1,315			68,420
Ralcorp Holdings, Inc.*		604			40,939
Sara Lee Corp.		3,752			52,265
Tyson Foods, Inc. Class A		282			5,400
Total Food Products					1,608,727
Gas Utilities – 0.2%
Energen Corp.		799			37,178
EQT Corp.		508			20,828
National Fuel Gas Co.		279			14,104
Oneok, Inc.		976			44,554
Questar Corp.		1,322			57,110
Total Gas Utilities					173,774
Health Care Equipment & Supplies – 2.2%
Baxter International, Inc.		5,638			328,132
Beckman Coulter, Inc.		266			16,705
Becton Dickinson and Co.		2,441			192,180
C.R. Bard, Inc.		985			85,321
DENTSPLY International, Inc.		1,137			39,624
Edwards Lifesciences Corp.*		295			29,170
Hospira, Inc.*		1,314			74,438
IDEXX Laboratories, Inc.*(a)		317			18,243
Intuitive Surgical, Inc.*		111			38,642
Inverness Medical Innovations, Inc.*		76			2,960
Medtronic, Inc.		8,678			390,770
ResMed, Inc.*		458			29,152
St. Jude Medical, Inc.*		1,700			69,785
Stryker Corp.		3,273			187,281
Varian Medical Systems, Inc.*(a)		1,071			59,258
Zimmer Holdings, Inc.*		1,818			107,626
Total Health Care Equipment & Supplies					1,669,287

Investments		Shares		Value
Health Care Providers & Services – 3.5%
Aetna, Inc.		5,622		$	197,388
AmerisourceBergen Corp.		2,926			84,620
Cardinal Health, Inc.		4,167			150,137
CIGNA Corp.		3,313			121,190
Community Health Systems, Inc.*		975			36,007
Coventry Health Care, Inc.*		1,778			43,952
DaVita, Inc.*		1,001			63,463
Express Scripts, Inc.*		1,471			149,689
Henry Schein, Inc.*		831			48,946
Humana, Inc.*		3,252			152,096
Laboratory Corp. of America Holdings*(a)		995			75,331
McKesson Corp.		2,820			185,330
Medco Health Solutions, Inc.*		2,873			185,481
Patterson Cos., Inc.		1,069			33,193
Quest Diagnostics, Inc.		1,732			100,958
UnitedHealth Group, Inc.		18,265			596,718
WellPoint, Inc.*		7,253			466,948
Total Health Care Providers & Services					2,691,447
Health Care Technology – 0.0%
Cerner Corp.*(a)		368			31,302
Hotels, Restaurants & Leisure – 1.4%
Darden Restaurants, Inc.		1,703			75,851
International Game Technology		1,276			23,542
McDonald’s Corp.		10,118			675,073
Starbucks Corp.*		2,534			61,500
Starwood Hotels & Resorts Worldwide, Inc.(a)		636			29,663
Wyndham Worldwide Corp.		1,390			35,765
Yum! Brands, Inc.		4,166			159,683
Total Hotels, Restaurants & Leisure					1,061,077
Household Durables – 0.2%
Fortune Brands, Inc.		166			8,053
Leggett & Platt, Inc.		379			8,201
Newell Rubbermaid, Inc.		2,398			36,450
NVR, Inc.*		25			18,162
Stanley Black & Decker, Inc.		775			44,493
Tupperware Brands Corp.		566			27,292
Whirlpool Corp.		375			32,719
Total Household Durables					175,370
Household Products – 2.8%
Church & Dwight Co., Inc.		562			37,626
Clorox Co.		1,318			84,536
Colgate-Palmolive Co.		3,716			316,826
Energizer Holdings, Inc.*		717			44,999
Kimberly-Clark Corp.		3,959			248,942
Procter & Gamble Co. (The)		23,088			1,460,778
Total Household Products					2,193,707
Independent Power Producers & Energy Traders – 0.3%
AES Corp. (The)*		2,877			31,647
Calpine Corp.*		2,400			28,536

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		29

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Earnings 500 Fund (EPS)

March 31, 2010

  

 

 

Investments		Shares		Value
NRG Energy, Inc.*		6,602		$	137,982
Total Independent Power Producers & Energy Traders					198,165
Industrial Conglomerates – 2.8%
3M Co.		4,033			337,038
General Electric Co.		99,434			1,809,699
Total Industrial Conglomerates					2,146,737
Insurance – 6.6%
Allstate Corp. (The)		3,645			117,770
American Family Life Assurance Co., Inc.		6,999			379,976
American Financial Group, Inc.		3,215			91,467
American National Insurance Co.		35			3,974
AON Corp.		1,547			66,072
Assurant, Inc.		2,699			92,792
Berkshire Hathaway, Inc. Class B*		20,684			1,680,989
Chubb Corp.		6,679			346,306
Cincinnati Financial Corp.		1,303			37,657
CNA Financial Corp.*		3,670			98,062
Fidelity National Financial, Inc. Class A		1,490			22,082
First American Corp.		517			17,495
HCC Insurance Holdings, Inc.		1,897			52,357
Lincoln National Corp.		2,716			83,381
Loews Corp.		1,022			38,100
Markel Corp.*		121			45,334
Marsh & McLennan Cos., Inc.		670			16,361
Metlife, Inc.		4,198			181,941
Principal Financial Group, Inc.		4,069			118,856
Progressive Corp. (The)		8,289			158,237
Prudential Financial, Inc.		7,614			460,647
Reinsurance Group of America, Inc.		1,393			73,160
Torchmark Corp.		1,788			95,676
Transatlantic Holdings, Inc.		1,639			86,539
Travelers Cos., Inc. (The)		10,129			546,358
Unum Group		6,271			155,333
W.R. Berkley Corp.		2,224			58,024
Total Insurance					5,124,946
Internet & Catalog Retail – 0.3%
Amazon.com, Inc.*		879			119,307
NetFlix, Inc.*(a)		271			19,983
priceline.com, Inc.*		301			76,755
Total Internet & Catalog Retail					216,045
Internet Software & Services – 1.4%
Akamai Technologies, Inc.*(a)		835			26,227
eBay, Inc.*		9,321			251,201
Equinix, Inc.*		222			21,609
Google, Inc. Class A*		1,247			707,061
VeriSign, Inc.*		1,173			30,510
Yahoo!, Inc.*		3,033			50,136
Total Internet Software & Services					1,086,744
IT Services – 2.0%
Alliance Data Systems Corp.*(a)		404			25,852
Automatic Data Processing, Inc.		4,544			202,072

Investments		Shares		Value
Broadridge Financial Solutions, Inc.		1,398		$	29,889
Cognizant Technology Solutions Corp. Class A*		1,739			88,654
Computer Sciences Corp.*		2,019			110,015
Fidelity National Information Services, Inc.		1,445			33,871
Fiserv, Inc.*		1,436			72,891
Global Payments, Inc.		419			19,086
Hewitt Associates, Inc. Class A*		860			34,211
Lender Processing Services, Inc.		883			33,333
Mastercard, Inc. Class A		829			210,566
Paychex, Inc.		2,404			73,803
SAIC, Inc.*		3,652			64,640
Total System Services, Inc.		1,928			30,193
Visa, Inc. Class A		4,007			364,757
Western Union Co. (The)		7,142			121,128
Total IT Services					1,514,961
Leisure Equipment & Products – 0.1%
Hasbro, Inc.		1,376			52,673
Mattel, Inc.		2,857			64,968
Total Leisure Equipment & Products					117,641
Life Sciences Tools & Services – 0.4%
Covance, Inc.*		469			28,792
Illumina, Inc.*(a)		469			18,244
Mettler-Toledo International, Inc.*		217			23,696
Millipore Corp.*		315			33,264
Thermo Fisher Scientific, Inc.*		2,536			130,452
Waters Corp.*		760			51,331
Total Life Sciences Tools & Services					285,779
Machinery – 1.5%
AGCO Corp.*		901			32,319
Bucyrus International, Inc.		806			53,188
Caterpillar, Inc.		2,493			156,685
Cummins, Inc.		484			29,984
Danaher Corp.		2,234			178,519
Deere & Co.		2,390			142,109
Donaldson Co., Inc.		410			18,499
Dover Corp.		1,558			72,836
Eaton Corp.		788			59,707
Flowserve Corp.		654			72,117
Illinois Tool Works, Inc.		2,503			118,542
Joy Global, Inc.		1,103			62,430
PACCAR, Inc.		734			31,811
Pall Corp.		808			32,716
Parker Hannifin Corp.		805			52,116
Pentair, Inc.		410			14,604
Total Machinery					1,128,182
Media – 2.6%
Cablevision Systems Corp. Class A		901			21,750
CBS Corp. Class B		2,288			31,895
Comcast Corp. Class A		27,587			519,187
DIRECTV Class A*		5,852			197,856
Discovery Communications, Inc. Class C*		2,734			80,407
DISH Network Corp. Class A		6,706			139,619

 

See Notes to Financial Statements.

 

30		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Earnings 500 Fund (EPS)

March 31, 2010

  

 

 

Investments		Shares		Value
DreamWorks Animation SKG, Inc. Class A*		581		$	22,886
Interpublic Group of Cos., Inc.*		3,365			27,997
Madison Square Garden, Inc. Class A*		225			4,889
McGraw-Hill Cos., Inc. (The)		2,646			94,330
Omnicom Group, Inc.		3,261			126,559
Scripps Networks Interactive, Inc. Class A		1,086			48,164
Viacom, Inc. Class B*		5,383			185,068
Walt Disney Co. (The)		14,060			490,835
Washington Post Co. (The) Class B		30			13,325
Total Media					2,004,767
Metals & Mining – 0.4%
Cliffs Natural Resources, Inc.		542			38,455
Newmont Mining Corp.		2,279			116,070
Reliance Steel & Aluminum Co.(a)		414			20,381
Southern Copper Corp.		2,478			78,478
Walter Energy, Inc.		697			64,312
Total Metals & Mining					317,696
Multiline Retail – 0.9%
Dollar Tree, Inc.*		821			48,620
Family Dollar Stores, Inc.		1,542			56,453
J.C. Penney Co., Inc.		561			18,047
Kohl’s Corp.*		2,471			135,361
Nordstrom, Inc.		1,372			56,046
Target Corp.		6,680			351,368
Total Multiline Retail					665,895
Multi-Utilities – 1.6%
Alliant Energy Corp.		372			12,373
Ameren Corp.		2,466			64,313
Centerpoint Energy, Inc.		2,962			42,534
CMS Energy Corp.(a)		1,882			29,096
Consolidated Edison, Inc.		1,590			70,819
Dominion Resources, Inc.		5,930			243,782
DTE Energy Co.		1,430			63,778
Integrys Energy Group, Inc.(a)		410			19,426
NiSource, Inc.		1,628			25,722
NSTAR		838			29,682
OGE Energy Corp.		940			36,604
PG&E Corp.		3,084			130,823
Public Service Enterprise Group, Inc.		6,485			191,437
SCANA Corp.		1,259			47,326
Sempra Energy		2,792			139,321
TECO Energy, Inc.		1,478			23,485
Wisconsin Energy Corp.		446			22,037
Xcel Energy, Inc.		3,821			81,005
Total Multi-Utilities					1,273,563
Office Electronics – 0.1%
Xerox Corp.		8,924			87,009
Oil, Gas & Consumable Fuels – 8.0%
Alpha Natural Resources, Inc.*		142			7,084
Arch Coal, Inc.		649			14,830
Cabot Oil & Gas Corp.		457			16,818
Chevron Corp.		19,458			1,475,500

Investments		Shares		Value
CNX Gas Corp.*		944		$	35,919
Concho Resources, Inc.*		338			17,022
Consol Energy, Inc.		1,781			75,977
Continental Resources, Inc.*		78			3,319
EOG Resources, Inc.		1,088			101,119
Exxon Mobil Corp.		46,009			3,081,683
Hess Corp.		770			48,164
Marathon Oil Corp.		7,291			230,687
Massey Energy Co.		425			22,223
Murphy Oil Corp.		1,555			87,375
Noble Energy, Inc.		426			31,098
Occidental Petroleum Corp.		4,716			398,691
Peabody Energy Corp.		2,059			94,096
Range Resources Corp.		197			9,233
Spectra Energy Corp.		5,867			132,184
Williams Cos., Inc. (The)		2,779			64,195
XTO Energy, Inc.		5,799			273,597
Total Oil, Gas & Consumable Fuels					6,220,814
Paper & Forest Products – 0.1%
International Paper Co.		3,002			73,879
Personal Products – 0.2%
Avon Products, Inc.		2,651			89,790
Estee Lauder Cos., Inc. (The) Class A		914			59,291
Total Personal Products					149,081
Pharmaceuticals – 7.2%
Abbott Laboratories		15,173			799,314
Allergan, Inc.		1,351			88,247
Bristol-Myers Squibb Co.		17,444			465,755
Forest Laboratories, Inc.*		3,437			107,784
Johnson & Johnson		27,029			1,762,291
Merck & Co., Inc.		24,818			926,952
Mylan, Inc.(a)		908			20,621
Perrigo Co.		658			38,638
Pfizer, Inc.		76,580			1,313,347
Watson Pharmaceuticals, Inc.*		911			38,052
Total Pharmaceuticals					5,561,001
Professional Services – 0.2%
Dun & Bradstreet Corp.		483			35,945
Equifax, Inc.(a)		1,070			38,306
IHS, Inc. Class A*		354			18,928
Manpower, Inc.		232			13,252
Robert Half International, Inc.(a)		391			11,898
Total Professional Services					118,329
Real Estate Investment Trusts (REITs) – 0.5%
AvalonBay Communities, Inc.		123			10,621
Boston Properties, Inc.		197			14,862
Digital Realty Trust, Inc.(a)		144			7,805
Federal Realty Investment Trust		264			19,222
HCP, Inc.		518			17,094
Health Care REIT, Inc.		432			19,539
Liberty Property Trust(a)		594			20,160
Nationwide Health Properties, Inc.		504			17,715

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		31

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Earnings 500 Fund (EPS)

March 31, 2010

  

 

 

Investments		Shares		Value
Plum Creek Timber Co., Inc.		1,203		$	46,809
Public Storage		1,130			103,949
Rayonier, Inc.(a)		881			40,024
Simon Property Group, Inc.		637			53,444
Ventas, Inc.		640			30,387
Total Real Estate Investment Trusts (REITs)					401,631
Road & Rail – 0.9%
CSX Corp.		3,453			175,758
JB Hunt Transport Services, Inc.		631			22,640
Norfolk Southern Corp.		2,993			167,279
Union Pacific Corp.		4,261			312,331
Total Road & Rail					678,008
Semiconductors & Semiconductor Equipment – 1.0%
Altera Corp.		1,618			39,334
Analog Devices, Inc.		1,244			35,852
Cree, Inc.*		125			8,778
Intel Corp.		18,259			406,445
Linear Technology Corp.		1,351			38,206
Microchip Technology, Inc.(a)		912			25,682
National Semiconductor Corp.		272			3,930
Texas Instruments, Inc.		5,623			137,595
Xilinx, Inc.		1,966			50,133
Total Semiconductors & Semiconductor Equipment					745,955
Software – 4.6%
Activision Blizzard, Inc.		4,362			52,606
Adobe Systems, Inc.*		2,706			95,711
Ansys, Inc.*		406			17,515
Autodesk, Inc.*		108			3,177
BMC Software, Inc.*		1,354			51,452
CA, Inc.		4,671			109,628
Citrix Systems, Inc.*		580			27,533
FactSet Research Systems, Inc.(a)		318			23,332
Intuit, Inc.*		2,126			73,007
McAfee, Inc.*		600			24,078
Microsoft Corp.		69,442			2,032,567
Oracle Corp.		35,393			909,246
Red Hat, Inc.*		447			13,084
Salesforce.com, Inc.*		164			12,210
Sybase, Inc.*		537			25,035
Synopsys, Inc.*		1,390			31,094
VMware, Inc. Class A*		913			48,663
Total Software					3,549,938
Specialty Retail – 2.6%
Abercrombie & Fitch Co. Class A		120			5,477
Advance Auto Parts, Inc.(a)		947			39,698
American Eagle Outfitters, Inc.		1,298			24,039
AutoNation, Inc.*(a)		1,883			34,045
AutoZone, Inc.*		611			105,758
Bed Bath & Beyond, Inc.*(a)		1,787			78,199
Best Buy Co., Inc.		3,976			169,139
CarMax, Inc.*(a)		919			23,085

Investments		Shares		Value
GameStop Corp. Class A*		2,546		$	55,783
Gap, Inc. (The)		6,829			157,818
Guess ?, Inc.		681			31,993
Home Depot, Inc.		12,525			405,184
Lowe’s Cos., Inc.		10,957			265,598
Ltd. Brands, Inc.		2,007			49,412
O’Reilly Automotive, Inc.*		1,097			45,756
PetSmart, Inc.		1,088			34,773
Ross Stores, Inc.		1,322			70,687
Sherwin-Williams Co. (The)		1,012			68,492
Staples, Inc.		4,595			107,477
Tiffany & Co.		607			28,827
TJX Cos., Inc.		4,254			180,880
Urban Outfitters, Inc.*		862			32,782
Total Specialty Retail					2,014,902
Textiles, Apparel & Luxury Goods – 0.7%
Coach, Inc.		2,573			101,685
NIKE, Inc. Class B		4,084			300,174
Polo Ralph Lauren Corp.(a)		783			66,586
VF Corp.		974			78,066
Total Textiles, Apparel & Luxury Goods					546,511
Thrifts & Mortgage Finance – 0.2%
Hudson City Bancorp, Inc.		5,795			82,057
New York Community Bancorp, Inc.		3,572			59,081
People’s United Financial, Inc.		865			13,528
TFS Financial Corp.		316			4,219
Total Thrifts & Mortgage Finance					158,885
Tobacco – 2.3%
Altria Group, Inc.		23,430			480,784
Lorillard, Inc.		1,746			131,369
Philip Morris International, Inc.		19,722			1,028,699
Reynolds American, Inc.		3,304			178,350
Total Tobacco					1,819,202
Trading Companies & Distributors – 0.2%
Fastenal Co.(a)		765			36,712
MSC Industrial Direct Co. Class A		387			19,629
W.W. Grainger, Inc.		621			67,143
Total Trading Companies & Distributors					123,484
Water Utilities – 0.0%
American Water Works Co., Inc.		1,280			27,853
Wireless Telecommunication Services – 0.2%
American Tower Corp. Class A*		914			38,946
NII Holdings, Inc.*		1,589			66,198
Telephone & Data Systems, Inc.		1,291			43,700
United States Cellular Corp.*		79			3,269
Total Wireless Telecommunication Services					152,113
TOTAL COMMON STOCKS (Cost: $78,987,341)					77,207,510

 

See Notes to Financial Statements.

 

32		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Earnings 500 Fund (EPS)

March 31, 2010

  

 

 

Investments		Shares		Value
SHORT-TERM INVESTMENT – 0.6%
MONEY MARKET FUND – 0.6%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $449,940)		449,940		$	449,940
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.9%
MONEY MARKET FUND – 1.9%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $1,505,012)(d)		1,505,012			1,505,012
TOTAL INVESTMENTS IN SECURITIES – 102.2% (Cost: $80,942,293)					79,162,462
Liabilities in Excess of Other Assets – (2.2)%					(1,740,196	)
NET ASSETS – 100.0%				$	77,422,266

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $1,466,932 and the total market value of the collateral held by the Fund was $1,505,012.

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		33

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Table of Contents

Schedule of Investments

WisdomTree MidCap Earnings Fund (EZM)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.7%
Aerospace & Defense – 2.5%
Cubic Corp.		1,348		$	48,528
Curtiss-Wright Corp.		2,941			102,347
DigitalGlobe, Inc.*		2,264			63,279
DynCorp International, Inc. Class A*		6,704			77,029
Esterline Technologies Corp.*		2,840			140,381
HEICO Corp.		1,316			67,853
Hexcel Corp.*		6,889			99,477
Moog, Inc. Class A*		2,846			100,805
Spirit Aerosystems Holdings, Inc. Class A*		9,951			232,655
Teledyne Technologies, Inc.*		2,177			89,845
TransDigm Group, Inc.		3,933			208,606
Triumph Group, Inc.		2,088			146,348
Total Aerospace & Defense					1,377,153
Air Freight & Logistics – 0.1%
HUB Group, Inc. Class A*		1,644			45,999
Airlines – 0.4%
Allegiant Travel Co.*(a)		2,118			122,548
Skywest, Inc.		6,022			85,994
Total Airlines					208,542
Auto Components – 0.1%
Fuel Systems Solutions, Inc.*(a)		761			24,322
Gentex Corp.		2,863			55,599
Total Auto Components					79,921
Automobiles – 0.1%
Thor Industries, Inc.		1,127			34,047
Biotechnology – 3.4%
Alkermes, Inc.*		10,558			136,937
BioMarin Pharmaceutical, Inc.*		1,551			36,247
Cubist Pharmaceuticals, Inc.*(a)		14,276			321,781
Myriad Genetics, Inc.*		6,723			161,688
OSI Pharmaceuticals, Inc.*(a)		15,399			917,011
PDL BioPharma, Inc.		41,643			258,603
Total Biotechnology					1,832,267
Building Products – 0.3%
Armstrong World Industries, Inc.*		1,635			59,367
Lennox International, Inc.		1,789			79,288
Simpson Manufacturing Co., Inc.(a)		868			24,096
Total Building Products					162,751
Capital Markets – 1.8%
Ares Capital Corp.		2,206			32,737
Federated Investors, Inc. Class B(a)		8,811			232,434
GAMCO Investors, Inc. Class A		1,060			48,230
Greenhill & Co., Inc.		956			78,478
Investment Technology Group, Inc.*		4,812			80,312
Knight Capital Group, Inc. Class A*		12,550			191,388
optionsXpress Holdings, Inc.(a)		5,078			82,721
Riskmetrics Group, Inc.*		2,346			53,043
Stifel Financial Corp.*		1,378			74,067

Investments		Shares		Value
Waddell & Reed Financial, Inc. Class A(a)		3,098		$	111,652
Total Capital Markets					985,062
Chemicals – 3.3%
Ashland, Inc.		221			11,662
H.B. Fuller Co.		2,199			51,039
Huntsman Corp.		57,157			688,742
Intrepid Potash, Inc.*(a)		2,937			89,079
NewMarket Corp.		1,374			141,508
Olin Corp.		6,980			136,948
RPM International, Inc.		8,269			176,461
Scotts Miracle-Gro Co. (The) Class A		4,442			205,887
Sensient Technologies Corp.		4,023			116,908
Valspar Corp.		6,094			179,651
W.R. Grace & Co.*		619			17,183
Total Chemicals					1,815,068
Commercial Banks – 3.3%
Associated Banc-Corp.		3,129			43,180
BancorpSouth, Inc.		4,782			100,231
Bank of Hawaii Corp.(a)		3,333			149,818
City National Corp.		528			28,496
CVB Financial Corp.(a)		6,700			66,531
First Citizens BancShares, Inc. Class A		225			44,721
First Financial Bankshares, Inc.		1,145			59,025
FirstMerit Corp.		5,356			115,529
Fulton Financial Corp.		2,266			23,090
Glacier Bancorp, Inc.		3,721			56,671
Hancock Holding Co.		1,355			56,653
Iberiabank Corp.		232			13,922
International Bancshares Corp.		8,611			197,967
Old National Bancorp		2,487			29,720
Park National Corp.(a)		1,190			74,149
Prosperity Bancshares, Inc.		3,053			125,173
Signature Bank*(a)		1,560			57,798
SVB Financial Group*		880			41,061
TCF Financial Corp.(a)		6,452			102,845
Trustmark Corp.		4,430			108,225
UMB Financial Corp.		2,574			104,504
Valley National Bancorp(a)		6,696			102,917
Westamerica Bancorp.(a)		1,860			107,229
Total Commercial Banks					1,809,455
Commercial Services & Supplies – 2.2%
ABM Industries, Inc.		2,946			62,455
Brink’s Co. (The)		2,114			59,678
Clean Harbors, Inc.*		795			44,170
Copart, Inc.*		4,547			161,873
Covanta Holding Corp.*		6,034			100,526
Geo Group, Inc. (The)*		3,768			74,682
Healthcare Services Group, Inc.		1,695			37,951
Herman Miller, Inc.		2,494			45,042
HNI Corp.		1,147			30,545
Mine Safety Appliances Co.		1,051			29,386
RINO International Corp.*(a)		1,535			36,426

 

See Notes to Financial Statements.

 

34		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Earnings Fund (EZM)

March 31, 2010

  

 

 

Investments		Shares		Value
Rollins, Inc.		4,511		$	97,798
SYKES Enterprises, Inc.*		2,527			57,717
Tetra Tech, Inc.*		3,772			86,907
United Stationers, Inc.*		1,809			106,460
Waste Connections, Inc.*		4,115			139,745
Total Commercial Services & Supplies					1,171,361
Communications Equipment – 1.2%
Adtran, Inc.		3,995			105,268
Arris Group, Inc.*		3,164			38,000
Blue Coat Systems, Inc.*		416			12,913
Comtech Telecommunications Corp.*		1,659			53,072
Emulex Corp.*		294			3,904
InterDigital, Inc.*		1,992			55,497
Polycom, Inc.*		3,232			98,835
Riverbed Technology, Inc.*		1,528			43,395
Tekelec*		5,064			91,962
Tellabs, Inc.		13,928			105,435
Viasat, Inc.*(a)		1,484			51,361
Total Communications Equipment					659,642
Computers & Peripherals – 0.8%
Diebold, Inc.(a)		3,274			103,982
Lexmark International, Inc. Class A*		4,117			148,541
QLogic Corp.*(a)		5,064			102,799
Synaptics, Inc.*(a)		2,524			69,688
Total Computers & Peripherals					425,010
Construction & Engineering – 1.1%
EMCOR Group, Inc.*		7,498			184,676
Granite Construction, Inc.		2,435			73,586
Insituform Technologies, Inc. Class A*		1,032			27,461
MasTec, Inc.*		6,237			78,649
Shaw Group, Inc. (The)*		858			29,532
Tutor Perini Corp.*		9,411			204,689
Total Construction & Engineering					598,593
Construction Materials – 0.1%
Eagle Materials, Inc.		1,827			48,489
Texas Industries, Inc.		300			10,251
Total Construction Materials					58,740
Consumer Finance – 0.9%
AmeriCredit Corp.*		1,172			27,847
Cash America International, Inc.		2,768			109,281
Credit Acceptance Corp.*		3,644			150,278
Nelnet, Inc. Class A		7,445			138,179
Student Loan Corp. (The)		2,607			92,627
Total Consumer Finance					518,212
Containers & Packaging – 2.1%
Aptargroup, Inc.		3,903			153,583
Greif, Inc. Class A		2,066			113,465
Packaging Corp. of America		11,976			294,729
Rock-Tenn Co. Class A		4,699			214,133
Silgan Holdings, Inc.		3,118			187,797

Investments		Shares		Value
Temple-Inland, Inc.		7,553		$	154,308
Total Containers & Packaging					1,118,015
Distributors – 0.2%
LKQ Corp.*		6,281			127,504
Diversified Consumer Services – 2.7%
Bridgepoint Education, Inc.*		2,663			65,457
Brink’s Home Security Holdings, Inc.*		2,295			97,652
Capella Education Co.*		580			53,847
Career Education Corp.*(a)		4,705			148,866
Coinstar, Inc.*(a)		1,104			35,880
Corinthian Colleges, Inc.*(a)		8,609			151,432
Grand Canyon Education, Inc.*		1,280			33,459
Hillenbrand, Inc.		6,259			137,636
Matthews International Corp. Class A		1,844			65,462
Regis Corp.		5,196			97,061
Service Corp. International		23,642			217,034
Strayer Education, Inc.(a)		528			128,579
Weight Watchers International, Inc.(a)		8,578			218,996
Total Diversified Consumer Services					1,451,361
Diversified Telecommunication Services – 0.5%
AboveNet, Inc.*(a)		1,716			87,053
Frontier Communications Corp.(a)		17,411			129,538
tw telecom, inc.*		1,824			33,105
Total Diversified Telecommunication Services					249,696
Electric Utilities – 2.6%
ALLETE, Inc.		1,727			57,820
Cleco Corp.		4,103			108,935
El Paso Electric Co.*		3,648			75,149
Great Plains Energy, Inc.		8,701			161,578
Hawaiian Electric Industries, Inc.(a)		2,439			54,756
IDACORP, Inc.		3,283			113,657
ITC Holdings Corp.		2,774			152,570
MGE Energy, Inc.(a)		1,362			48,160
NV Energy, Inc.		14,791			182,373
PNM Resources, Inc.		1,185			14,848
Portland General Electric Co.		4,598			88,787
UIL Holdings Corp.		1,936			53,240
Unisource Energy Corp.		3,793			119,252
Westar Energy, Inc.		7,320			163,236
Total Electric Utilities					1,394,361
Electrical Equipment – 2.2%
A.O. Smith Corp.		1,078			56,670
Acuity Brands, Inc.		2,624			110,759
Baldor Electric Co.		2,960			110,704
Brady Corp. Class A		2,185			67,997
EnerSys*		2,868			70,725
General Cable Corp.*(a)		5,020			135,540
GrafTech International Ltd.*		1,231			16,828
Hubbell, Inc. Class B		3,834			193,349
II-VI, Inc.*		1,056			35,735
Regal-Beloit Corp.		1,820			108,126

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		35

---

Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Earnings Fund (EZM)

March 31, 2010

  

 

 

Investments		Shares		Value
SunPower Corp. Class A*(a)		2,911		$	55,018
Thomas & Betts Corp.*		2,886			113,247
Woodward Governor Co.		4,198			134,252
Total Electrical Equipment					1,208,950
Electronic Equipment, Instruments & Components – 1.8%
Anixter International, Inc.*		1,566			73,367
AVX Corp.		7,154			101,587
Benchmark Electronics, Inc.*		3,244			67,281
Ingram Micro, Inc. Class A*		12,823			225,044
National Instruments Corp.		1,403			46,790
Plexus Corp.*		2,146			77,320
SYNNEX Corp.*(a)		3,688			109,017
Tech Data Corp.*		4,217			176,692
Trimble Navigation Ltd.*		3,170			91,043
Total Electronic Equipment, Instruments & Components					968,141
Energy Equipment & Services – 3.7%
Atwood Oceanics, Inc.*		8,053			278,875
Bristow Group, Inc.*		2,179			82,214
CARBO Ceramics, Inc.		1,069			66,641
Dresser-Rand Group, Inc.*		8,923			280,361
Dril-Quip, Inc.*		2,202			133,970
Lufkin Industries, Inc.		820			64,903
Oil States International, Inc.*		5,837			264,650
Patterson-UTI Energy, Inc.		5,737			80,146
RPC, Inc.		622			6,923
SEACOR Holdings, Inc.*		2,200			177,452
Superior Energy Services, Inc.*		6,150			129,273
Tetra Technologies, Inc.*		1,007			12,305
Tidewater, Inc.		8,607			406,853
Total Energy Equipment & Services					1,984,566
Food & Staples Retailing – 1.0%
BJ’s Wholesale Club, Inc.*(a)		4,523			167,306
Casey’s General Stores, Inc.		4,081			128,143
Ruddick Corp.(a)		3,825			121,023
United Natural Foods, Inc.*		2,609			73,391
Weis Markets, Inc.(a)		2,185			79,447
Total Food & Staples Retailing					569,310
Food Products – 2.0%
Corn Products International, Inc.		5,210			180,579
Del Monte Foods Co.		20,052			292,759
Flowers Foods, Inc.(a)		6,107			151,087
Green Mountain Coffee Roasters, Inc.*		780			75,520
Lancaster Colony Corp.		2,589			152,647
Lance, Inc.(a)		1,453			33,608
Sanderson Farms, Inc.(a)		290			15,547
Tootsie Roll Industries, Inc.		2,436			65,845
TreeHouse Foods, Inc.*		2,338			102,568
Total Food Products					1,070,160

Investments		Shares		Value
Gas Utilities – 2.7%
AGL Resources, Inc.		6,555		$	253,351
Atmos Energy Corp.		7,407			211,618
New Jersey Resources Corp.		3,438			129,131
Nicor, Inc.(a)		2,911			122,029
Northwest Natural Gas Co.		1,761			82,063
Piedmont Natural Gas Co., Inc.		4,570			126,041
South Jersey Industries, Inc.		1,540			64,664
Southwest Gas Corp.(a)		2,194			65,644
UGI Corp.		11,352			301,282
WGL Holdings, Inc.		3,235			112,093
Total Gas Utilities					1,467,916
Health Care Equipment & Supplies – 3.1%
Align Technology, Inc.*		4,453			86,121
American Medical Systems Holdings, Inc.*		4,439			82,477
Cooper Cos., Inc. (The)(a)		3,096			120,372
ev3, Inc.*		1,351			21,427
Gen-Probe, Inc.*(a)		2,217			110,850
Haemonetics Corp.*		1,398			79,896
Hill-Rom Holdings, Inc.		2,536			69,005
Immucor, Inc.*		4,738			106,084
Integra LifeSciences Holdings Corp.*		1,935			84,811
Invacare Corp.		2,021			53,637
Kinetic Concepts, Inc.*		6,820			326,064
Masimo Corp.(a)		1,587			42,135
Meridian Bioscience, Inc.		1,739			35,423
NuVasive, Inc.*(a)		315			14,238
Sirona Dental Systems, Inc.*		750			28,523
STERIS Corp.		4,514			151,941
Teleflex, Inc.		2,566			164,404
Thoratec Corp.*(a)		1,060			35,457
West Pharmaceutical Services, Inc.		1,833			76,894
Total Health Care Equipment & Supplies					1,689,759
Health Care Providers & Services – 7.2%
Amedisys, Inc.*(a)		3,237			178,747
AMERIGROUP Corp.*		6,442			214,132
Catalyst Health Solutions, Inc.*		2,093			86,608
Centene Corp.*		5,028			120,873
Chemed Corp.		1,830			99,515
Emergency Medical Services Corp. Class A*		2,392			135,268
Health Management Associates, Inc. Class A*		22,634			194,652
Health Net, Inc.*		6,894			171,454
Healthsouth Corp.*		4,766			89,124
Healthspring, Inc.*		8,180			143,968
HMS Holdings Corp.*		679			34,622
LifePoint Hospitals, Inc.*		4,686			172,351
Lincare Holdings, Inc.*(a)		4,828			216,681
Magellan Health Services, Inc.*		2,658			115,570
Mednax, Inc.*		3,289			191,387
Omnicare, Inc.		14,273			403,783
Owens & Minor, Inc.		3,135			145,433

 

See Notes to Financial Statements.

 

36		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Earnings Fund (EZM)

March 31, 2010

  

 

 

Investments		Shares		Value
PSS World Medical, Inc.*		3,628		$	85,294
Psychiatric Solutions, Inc.*		6,348			189,170
Tenet Healthcare Corp.*		43,058			246,292
Universal American Corp.*		12,132			186,833
Universal Health Services, Inc. Class B		9,534			334,548
VCA Antech, Inc.*(a)		6,314			176,982
Total Health Care Providers & Services					3,933,287
Health Care Technology – 0.3%
Allscripts-Misys Healthcare Solutions, Inc.*		1,992			38,963
athenahealth, Inc.*(a)		728			26,616
Eclipsys Corp.*		477			9,483
MedAssets, Inc.*		863			18,123
Quality Systems, Inc.(a)		852			52,347
Total Health Care Technology					145,532
Hotels, Restaurants & Leisure – 3.3%
Ameristar Casinos, Inc.(a)		4,432			80,751
Bally Technologies, Inc.*		3,462			140,349
Bob Evans Farms, Inc.		2,348			72,577
Brinker International, Inc.		7,448			143,597
Burger King Holdings, Inc.		12,097			257,182
Cheesecake Factory (The)*		2,727			73,793
Chipotle Mexican Grill, Inc.*		1,449			163,259
Choice Hotels International, Inc.(a)		3,345			116,439
Cracker Barrel Old Country Store, Inc.		2,120			98,326
Gaylord Entertainment Co.*(a)		375			10,984
International Speedway Corp. Class A		3,527			90,891
Jack In The Box, Inc.*		5,583			131,480
Life Time Fitness, Inc.*(a)		2,937			82,530
Panera Bread Co. Class A*		1,484			113,511
Penn National Gaming, Inc.*		1,397			38,836
Vail Resorts, Inc.*		1,515			60,736
Wendy’s/Arby’s Group, Inc. Class A		2,980			14,900
WMS Industries, Inc.*(a)		2,737			114,790
Total Hotels, Restaurants & Leisure					1,804,931
Household Durables – 0.3%
Jarden Corp.		2,130			70,908
Tempur-Pedic International, Inc.*(a)		2,820			85,051
Total Household Durables					155,959
Independent Power Producers & Energy Traders – 0.1%
Ormat Technologies, Inc.		1,920			54,029
Industrial Conglomerates – 0.5%
Carlisle Cos., Inc.		3,165			120,587
Otter Tail Corp.(a)		1,169			25,671
Seaboard Corp.		79			102,629
Total Industrial Conglomerates					248,887
Insurance – 5.0%
Alleghany Corp.*		472			137,194
Arthur J. Gallagher & Co.		6,201			152,235
Brown & Brown, Inc.		10,259			183,841
Delphi Financial Group, Inc. Class A		8,874			223,270

Investments		Shares		Value
Erie Indemnity Co. Class A		2,679		$	115,545
Hanover Insurance Group, Inc. (The)(a)		5,074			221,277
Harleysville Group, Inc.		3,080			103,981
Mercury General Corp.		3,356			146,724
Navigators Group, Inc.*		2,026			79,683
ProAssurance Corp.*		4,769			279,177
Protective Life Corp.		7,400			162,726
RLI Corp.(a)		2,255			128,580
Selective Insurance Group		3,579			59,412
StanCorp Financial Group, Inc.		6,483			308,785
Tower Group, Inc.		4,845			107,414
Unitrin, Inc.		6,523			182,970
Wesco Financial Corp.		206			79,413
Zenith National Insurance Corp.		1,001			38,358
Total Insurance					2,710,585
Internet & Catalog Retail - 0.0%
Blue Nile, Inc.*		208			11,444
Internet Software & Services – 1.3%
Digital River, Inc.*		2,444			74,053
Earthlink, Inc.		23,606			201,595
j2 Global Communications, Inc.*(a)		4,562			106,751
MercadoLibre, Inc.*		694			33,458
Monster Worldwide, Inc.*(a)		3,564			59,198
Rackspace Hosting, Inc.*		1,475			27,627
Sohu.com, Inc.*		3,618			197,543
ValueClick, Inc.*		681			6,905
WebMD Health Corp.*(a)		551			25,555
Total Internet Software & Services					732,685
IT Services – 2.7%
Acxiom Corp.		3,599			64,566
CACI International, Inc. Class A*		2,358			115,188
Cybersource Corp.*		972			17,146
DST Systems, Inc.		6,634			274,979
Euronet Worldwide, Inc.*		2,131			39,274
Gartner, Inc.*		6,106			135,798
Mantech International Corp. Class A*		2,758			134,673
MAXIMUS, Inc.		1,253			76,345
NeuStar, Inc. Class A*		1,706			42,991
Sapient Corp.		6,386			58,368
SRA International, Inc. Class A*		3,830			79,626
Syntel, Inc.(a)		3,299			126,913
TeleTech Holdings, Inc.*		4,166			71,155
Wright Express Corp.*		6,931			208,762
Total IT Services					1,445,784
Leisure Equipment & Products – 0.3%
Polaris Industries, Inc.(a)		2,658			135,983
Pool Corp.(a)		1,220			27,621
Total Leisure Equipment & Products					163,604
Life Sciences Tools & Services – 1.8%
Bio-Rad Laboratories, Inc. Class A*		1,513			156,626
Bruker Corp.*		6,114			89,570
Charles River Laboratories International, Inc.*(a)		4,312			169,505

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		37

---

Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Earnings Fund (EZM)

March 31, 2010

  

 

 

Investments		Shares		Value
Dionex Corp.*		866		$	64,759
PerkinElmer, Inc.		4,412			105,447
Pharmaceutical Product Development, Inc.		8,845			210,069
Techne Corp.		1,745			111,139
Varian, Inc.*		915			47,378
Total Life Sciences Tools & Services					954,493
Machinery – 3.6%
Actuant Corp. Class A		2,546			49,774
Barnes Group, Inc.		1,470			28,591
CLARCOR, Inc.		2,505			86,397
Crane Co.		2,340			83,070
ESCO Technologies, Inc.		1,508			47,969
Graco, Inc.		1,513			48,416
Harsco Corp.		2,575			82,245
IDEX Corp.		3,805			125,945
Kaydon Corp.		1,376			51,738
Lincoln Electric Holdings, Inc.		665			36,129
Middleby Corp.*		1,535			88,401
Mueller Industries, Inc.		1,669			44,713
Nordson Corp.		1,467			99,639
Snap-On, Inc.		3,514			152,297
SPX Corp.		4,337			287,630
Toro Co.(a)		1,762			86,638
Trinity Industries, Inc.(a)		7,762			154,930
Valmont Industries, Inc.		2,103			174,191
WABCO Holdings, Inc.*		365			10,921
Wabtec Corp.		3,424			144,219
Watts Water Technologies, Inc. Class A		1,533			47,615
Total Machinery					1,931,468
Marine – 0.3%
Alexander & Baldwin, Inc.(a)		408			13,484
Kirby Corp.*(a)		4,356			166,182
Total Marine					179,666
Media – 1.6%
Gannett Co., Inc.(a)		3,792			62,644
Interactive Data Corp.		6,919			221,408
John Wiley & Sons, Inc. Class A		3,147			136,202
Meredith Corp.		3,132			107,772
Morningstar, Inc.*		2,051			98,633
Regal Entertainment Group Class A		7,637			134,182
Scholastic Corp.		1,822			51,016
World Wrestling Entertainment, Inc. Class A(a)		3,993			69,079
Total Media					880,936
Metals & Mining – 0.8%
AMCOL International Corp.		876			23,827
Commercial Metals Co.		1,794			27,018
Compass Minerals International, Inc.(a)		3,100			248,713
Royal Gold, Inc.		424			19,593
Titanium Metals Corp.*(a)		7,005			116,213
Total Metals & Mining					435,364

Investments		Shares		Value
Multiline Retail – 0.5%
99 Cents Only Stores*		3,496		$	56,985
Big Lots, Inc.*		6,236			227,115
Total Multiline Retail					284,100
Multi-Utilities – 0.5%
Avista Corp.		3,946			81,722
NorthWestern Corp.		2,240			60,054
Vectren Corp.		5,070			125,330
Total Multi-Utilities					267,106
Office Electronics – 0.1%
Zebra Technologies Corp. Class A*		2,269			67,162
Oil, Gas & Consumable Fuels – 2.3%
Arena Resources, Inc.*		1,258			42,017
Berry Petroleum Co. Class A		1,355			38,157
Bill Barrett Corp.*		1,764			54,172
Enbridge Energy Management LLC*		308			15,723
Frontier Oil Corp.		1,701			22,964
Holly Corp.		5,104			142,453
Patriot Coal Corp.*		15,764			322,531
Southern Union Co.		12,227			310,199
Tesoro Corp.		12,051			167,509
World Fuel Services Corp.(a)		4,980			132,667
Total Oil, Gas & Consumable Fuels					1,248,392
Paper & Forest Products – 0.0%
Schweitzer-Mauduit International, Inc.		243			11,557
Personal Products – 0.8%
Alberto-Culver Co.		4,819			126,017
NBTY, Inc.*		3,987			191,296
Nu Skin Enterprises, Inc. Class A		3,276			95,332
Revlon, Inc. Class A*(a)		1,590			23,611
Total Personal Products					436,256
Pharmaceuticals – 0.6%
Endo Pharmaceuticals Holdings, Inc.*		10,093			239,103
Par Pharmaceutical Cos., Inc.*		2,641			65,497
Total Pharmaceuticals					304,600
Professional Services – 0.5%
CoStar Group, Inc.*		643			26,697
FTI Consulting, Inc.*		3,441			135,300
Towers Watson & Co. Class A		2,547			120,983
Total Professional Services					282,980
Real Estate Investment Trusts (REITs) – 4.8%
Alexander’s, Inc.*		771			230,629
Alexandria Real Estate Equities, Inc.		1,882			127,223
BioMed Realty Trust, Inc.		3,697			61,148
Brandywine Realty Trust		1,449			17,692
BRE Properties, Inc.		1,582			56,557
CBL & Associates Properties, Inc.(a)		1,992			27,291
Corporate Office Properties Trust SBI MD(a)		1,656			66,455
DiamondRock Hospitality Co.		1,678			16,965

 

See Notes to Financial Statements.

 

38		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree MidCap Earnings Fund (EZM)

March 31, 2010

  

 

 

Investments		Shares		Value
EastGroup Properties, Inc.		879		$	33,174
Equity Lifestyle Properties, Inc.		486			26,186
Equity One, Inc.		5,227			98,738
Essex Property Trust, Inc.		1,222			109,919
Extra Space Storage, Inc.		4,481			56,819
Franklin Street Properties Corp.(a)		2,244			32,381
Healthcare Realty Trust, Inc.		1,713			39,896
Highwoods Properties, Inc.		458			14,532
Home Properties, Inc.		644			30,139
Hospitality Properties Trust(a)		9,659			231,333
HRPT Properties Trust		10,340			80,445
Kilroy Realty Corp.		1,010			31,148
Macerich Co. (The)		6,846			262,270
Mack-Cali Realty Corp.		1,584			55,836
Medical Properties Trust, Inc.		3,785			39,667
Mid-America Apartment Communities, Inc.		450			23,306
National Health Investors, Inc.		1,841			71,357
National Retail Properties, Inc.(a)		5,119			116,867
Omega Healthcare Investors, Inc.		4,362			85,015
Potlatch Corp.		1,932			67,697
PS Business Parks, Inc.		1,384			73,906
Realty Income Corp.(a)		4,203			128,990
Senior Housing Properties Trust		5,899			130,663
Sovran Self Storage, Inc.		948			33,047
Tanger Factory Outlet Centers(a)		1,431			61,762
Washington Real Estate Investment Trust(a)		1,151			35,163
Weingarten Realty Investors		1,781			38,398
Total Real Estate Investment Trusts (REITs)					2,612,614
Road & Rail – 1.0%
Genesee & Wyoming, Inc. Class A*		2,178			74,313
Heartland Express, Inc.(a)		4,017			66,281
Kansas City Southern*		2,426			87,748
Knight Transportation, Inc.(a)		3,373			71,137
Landstar System, Inc.		2,258			94,791
Old Dominion Freight Line, Inc.*		1,415			47,247
Ryder System, Inc.		674			26,124
Werner Enterprises, Inc.		3,160			73,217
Total Road & Rail					540,858
Semiconductors & Semiconductor Equipment – 1.1%
Amkor Technology, Inc.*		20,687			146,257
Atheros Communications, Inc.*		1,009			39,059
Cymer, Inc.*		295			11,004
FEI Co.*		1,121			25,682
Hittite Microwave Corp.*		1,359			59,755
MEMC Electronic Materials, Inc.*		1,558			23,884
PMC – Sierra, Inc.*		6,958			62,065
Silicon Laboratories, Inc.*		993			47,336
Skyworks Solutions, Inc.*(a)		7,902			123,271
Tessera Technologies, Inc.*		3,205			64,998
Total Semiconductors & Semiconductor Equipment					603,311

Investments		Shares		Value
Software – 2.5%
Advent Software, Inc.*(a)		672		$	30,072
Ariba, Inc.*		220			2,827
AsiaInfo Holdings, Inc.*		1,016			26,904
Blackbaud, Inc.		1,371			34,535
Blackboard, Inc.*(a)		64			2,666
CommVault Systems, Inc.*		565			12,063
Compuware Corp.*		19,185			161,154
Concur Technologies, Inc.*		711			29,158
Fair Isaac Corp.		3,926			99,485
Informatica Corp.*		2,487			66,801
Jack Henry & Associates, Inc.		5,283			127,109
Lawson Software, Inc.*		5,027			33,228
MICROS Systems, Inc.*		3,770			123,957
MicroStrategy, Inc. Class A*		711			60,485
Net 1 UEPS Technologies, Inc.*		5,237			96,308
Novell, Inc.*		10,224			61,242
Parametric Technology Corp.*		2,172			39,205
Pegasystems, Inc.(a)		1,014			37,518
Progress Software Corp.*		1,102			34,636
Quest Software, Inc.*		5,468			97,276
SolarWinds, Inc.*(a)		1,555			33,681
Solera Holdings, Inc.		1,981			76,566
TIBCO Software, Inc.*		8,371			90,323
Total Software					1,377,199
Specialty Retail – 4.5%
Aaron’s, Inc.(a)		4,371			145,729
Aeropostale, Inc.*		9,879			284,812
Barnes & Noble, Inc.(a)		4,668			100,922
Buckle, Inc. (The)		4,988			183,359
Cabela’s, Inc.*(a)		6,592			115,294
Chico’s FAS, Inc.		949			13,685
Childrens Place Retail Stores, Inc. (The)*		2,772			123,493
Collective Brands, Inc.*		1,122			25,514
Dick’s Sporting Goods, Inc.*		3,725			97,260
Dress Barn, Inc.*		3,676			96,164
DSW, Inc. Class A*		1,500			38,295
Gymboree Corp.*		2,668			137,749
J Crew Group, Inc.*(a)		1,808			82,987
Jo-Ann Stores, Inc.*		1,221			51,258
Men’s Wearhouse, Inc. (The)		2,899			69,402
Penske Auto Group, Inc.*		4,407			63,549
RadioShack Corp.		11,480			259,792
Rent-A-Center, Inc.*		10,005			236,618
Sally Beauty Holdings, Inc.*(a)		15,495			138,215
Tractor Supply Co.*		2,345			136,127
Ulta Salon Cosmetics & Fragrance, Inc.*		1,720			38,906
Williams-Sonoma, Inc.(a)		406			10,674
Total Specialty Retail					2,449,804
Textiles, Apparel & Luxury Goods – 2.6%
Carter’s, Inc.*		4,134			124,640
Columbia Sportswear Co.(a)		2,378			124,916

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		39

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Table of Contents

Schedule of Investments (concluded)

WisdomTree MidCap Earnings Fund (EZM)

March 31, 2010

  

 

 

Investments		Shares		Value
Deckers Outdoor Corp.*		1,327		$	183,126
Fossil, Inc.*		3,959			149,413
Hanesbrands, Inc.*		3,519			97,899
Iconix Brand Group, Inc.*		6,833			104,955
Lululemon Athletica, Inc.*		1,626			67,479
Phillips-Van Heusen Corp.		2,779			159,404
Skechers U.S.A., Inc. Class A*		266			9,661
Timberland Co. (The) Class A*		3,013			64,297
Under Armour, Inc. Class A*		1,684			49,526
Unifirst Corp.		1,912			98,468
Warnaco Group, Inc. (The)*		2,288			109,161
Wolverine World Wide, Inc.		2,677			78,061
Total Textiles, Apparel & Luxury Goods					1,421,006
Thrifts & Mortgage Finance – 0.7%
Astoria Financial Corp.		4,276			62,002
Capitol Federal Financial		2,505			93,837
First Niagara Financial Group, Inc.		5,211			74,101
NewAlliance Bancshares, Inc.		3,878			48,940
Northwest Bancshares, Inc.		4,250			49,895
Washington Federal, Inc.		3,032			61,610
Total Thrifts & Mortgage Finance					390,385
Tobacco – 0.5%
Universal Corp.		3,946			207,915
Vector Group Ltd.(a)		3,116			48,080
Total Tobacco					255,995
Trading Companies & Distributors – 0.7%
Applied Industrial Technologies, Inc.		2,894			71,916
GATX Corp.		2,725			78,071
Watsco, Inc.		865			49,201
WESCO International, Inc.*		5,217			181,082
Total Trading Companies & Distributors					380,270
Water Utilities – 0.2%
Aqua America, Inc.		6,391			112,290
Wireless Telecommunication Services – 0.5%
MetroPCS Communications, Inc.*(a)		24,402			172,766
Syniverse Holdings, Inc.*		4,506			87,732
Total Wireless Telecommunication Services					260,498
TOTAL COMMON STOCKS (Cost: $49,226,605)					54,176,599
SHORT-TERM INVESTMENT – 1.4%
MONEY MARKET FUND – 1.4%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $736,492)		736,492			736,492

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 14.9%
MONEY MARKET FUND – 14.9%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $8,081,065)(d)		8,081,065		$	8,081,065
TOTAL INVESTMENTS IN SECURITIES – 116.0% (Cost: $58,044,162)					62,994,156
Liabilities in Excess of Other Assets – (16.0)%					(8,688,456	)
NET ASSETS – 100.0%				$	54,305,700

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $7,849,179 and the total market value of the collateral held by the Fund was $8,081,065.

 

See Notes to Financial Statements.

 

40		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.4%
Aerospace & Defense – 1.9%
AAR Corp.*		16,040		$	398,113
Aerovironment, Inc.*(a)		2,916			76,137
American Science & Engineering, Inc.		2,663			199,512
Applied Signal Technology, Inc.		3,304			64,692
Argon ST, Inc.*		5,703			151,757
Ceradyne, Inc.*		5,917			134,257
Ducommun, Inc.		4,767			100,155
GeoEye, Inc.*		3,308			97,586
Ladish Co., Inc.*		1,930			38,909
LMI Aerospace, Inc.*		4,647			86,341
Orbital Sciences Corp.*(a)		14,365			273,078
Stanley, Inc.*		8,199			231,950
Total Aerospace & Defense					1,852,487
Air Freight & Logistics – 0.2%
Atlas Air Worldwide Holdings, Inc.*		1,776			94,217
Dynamex, Inc.*		2,538			43,654
Forward Air Corp.		3,557			93,549
Total Air Freight & Logistics					231,420
Airlines – 0.6%
Hawaiian Holdings, Inc.*		43,971			324,066
Republic Airways Holdings, Inc.*		36,463			215,861
Total Airlines					539,927
Auto Components – 0.5%
China Automotive Systems, Inc.*(a)		4,776			110,373
Dorman Products, Inc.*		7,676			145,767
Hawk Corp. Class A*		1,957			38,162
Spartan Motors, Inc.		20,500			114,800
Wonder Auto Technology, Inc.*(a)		8,393			88,798
Total Auto Components					497,900
Beverages – 0.5%
Boston Beer Co., Inc. Class A*		3,259			170,315
Coca-Cola Bottling Co. Consolidated		3,035			178,033
National Beverage Corp.		10,381			115,437
Total Beverages					463,785
Biotechnology – 1.0%
Biospecifics Technologies Corp.*		645			17,899
Cytokinetics, Inc.*		49,964			159,885
Emergent Biosolutions, Inc.*		11,798			198,088
Enzon Pharmaceuticals, Inc.*		399			4,062
Idera Pharmaceuticals, Inc.*		4,344			26,976
Immunomedics, Inc.*(a)		63,626			211,238
Keryx Biopharmaceuticals, Inc.*(a)		14,708			40,300
Martek Biosciences Corp.*(a)		11,797			265,551
Oncothyreon, Inc.*(a)		5,781			20,060
Total Biotechnology					944,059
Building Products – 0.9%
AAON, Inc.		7,418			167,795
Ameron International Corp.		2,435			153,137
Apogee Enterprises, Inc.		17,643			278,936

Investments		Shares		Value
Griffon Corp.*		9,766		$	121,684
Universal Forest Products, Inc.		2,969			114,366
Total Building Products					835,918
Capital Markets – 2.1%
BGC Partners, Inc. Class A		21,914			133,895
BlackRock Kelso Capital Corp.		60,710			604,672
Broadpoint Gleacher Securities, Inc.*(a)		49,807			199,228
Diamond Hill Investment Group, Inc.		486			33,340
Duff & Phelps Corp. Class A		2,670			44,696
Epoch Holding Corp.		1,452			16,393
Fifth Street Finance Corp.		684			7,941
GFI Group, Inc.(a)		36,412			210,461
International Assets Holding Corp.*(a)		5,029			75,284
JMP Group, Inc.		358			3,043
LaBranche & Co., Inc.*(a)		3,044			16,011
Main Street Capital Corp.(a)		3,728			58,194
Oppenheimer Holdings, Inc. Class A		1,442			36,785
Penson Worldwide, Inc.*(a)		1,364			13,736
Prospect Capital Corp.(a)		21,736			264,092
Pzena Investment Management, Inc. Class A*		4,161			31,748
Safeguard Scientifics, Inc.(a)		859			11,167
SWS Group, Inc.		8,842			101,948
TradeStation Group, Inc.*(a)		15,112			105,935
US Global Investors, Inc. Class A		1,622			16,042
Westwood Holdings Group, Inc.		1,406			51,741
Total Capital Markets					2,036,352
Chemicals – 2.7%
American Vanguard Corp.(a)		6,489			52,885
Arch Chemicals, Inc.		4,551			156,509
Balchem Corp.		5,739			141,466
Calgon Carbon Corp.*		11,080			189,690
China Green Agriculture, Inc.*(a)		5,310			74,340
Hawkins, Inc.(a)		5,971			144,498
ICO, Inc.*		2,627			21,226
Innophos Holdings, Inc.		28,246			788,064
Koppers Holdings, Inc.		4,302			121,833
Landec Corp.*		6,172			40,920
LSB Industries, Inc.*		9,444			143,927
Omnova Solutions, Inc.*		6,465			50,750
Quaker Chemical Corp.		1,030			27,923
Schulman A., Inc.		673			16,468
ShengdaTech, Inc.*(a)		24,379			182,599
Stepan Co.		4,130			230,826
Yongye International, Inc.		11,285			91,183
Zep, Inc.		2,840			62,139
Zoltek Cos., Inc.*(a)		1,231			11,867
Total Chemicals					2,549,113
Commercial Banks – 7.4%
1st Source Corp.(a)		6,774			118,884
Alliance Financial Corp.(a)		1,550			45,694
American National Bankshares, Inc.(a)		1,709			34,436
Ames National Corp.		2,274			45,594

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		41

---

Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Arrow Financial Corp.(a)		3,703		$	99,574
Bancfirst Corp.		4,243			177,824
Bancorp, Inc.*		9,476			84,336
Bank of Marin Bancorp		1,750			57,890
Bank of the Ozarks, Inc.		6,488			228,313
Bryn Mawr Bank Corp.		2,565			46,555
Camden National Corp.		4,377			140,545
Cardinal Financial Corp.		5,217			55,718
Century Bancorp, Inc. Class A(a)		2,519			48,365
Chemical Financial Corp.(a)		1,497			35,359
City Holding Co.(a)		5,807			199,122
Community Bank System, Inc.(a)		11,850			269,943
Community Trust Bancorp, Inc.(a)		5,417			146,747
Danvers Bancorp, Inc.		1,028			14,217
First Bancorp(a)		5,646			76,334
First Bancorp, Inc.		4,125			65,753
First Financial Bancorp(a)		82,938			1,475,467
First Financial Corp.(a)		4,022			116,477
First of Long Island Corp. (The)		2,797			67,408
FNB Corp.		3,427			27,793
German American Bancorp, Inc.		3,944			59,673
Great Southern Bancorp, Inc.(a)		519			11,646
Heartland Financial USA, Inc.(a)		2,524			40,308
Home Bancshares, Inc.		1,733			45,821
Independent Bank Corp.(a)		2,741			67,593
Lakeland Financial Corp.		4,635			88,297
MainSource Financial Group, Inc.		4,047			27,236
Merchants Bancshares, Inc.(a)		2,614			56,750
Metro Bancorp, Inc.*(a)		733			10,093
National Bankshares, Inc.(a)		2,605			70,986
NBT Bancorp, Inc.(a)		12,838			293,348
Northfield Bancorp, Inc.		4,504			65,218
Orrstown Financial Services, Inc.		2,005			50,867
Renasant Corp.(a)		5,446			88,116
Republic Bancorp, Inc. Class A		10,341			194,824
S&T Bancorp, Inc.		2,239			46,795
S.Y. Bancorp, Inc.(a)		4,359			99,167
Santander BanCorp*		6,401			78,540
SCBT Financial Corp.(a)		1,972			73,043
Shore Bancshares, Inc.		2,112			30,096
Simmons First National Corp. Class A(a)		4,638			127,870
Southside Bancshares, Inc.		10,906			235,242
Sterling Bancorp(a)		6,512			65,446
Suffolk Bancorp(a)		3,959			121,581
Susquehanna Bancshares, Inc.		2,393			23,475
Texas Capital Bancshares, Inc.*(a)		6,451			122,504
Tompkins Financial Corp.(a)		4,080			148,838
TowneBank(a)		6,745			94,160
Trico Bancshares(a)		3,640			72,436
Union First Market Bankshares Corp.		2,247			33,930
United Bankshares, Inc.(a)		16,949			444,403
Univest Corp. of Pennsylvania		3,908			73,041
Washington Trust Bancorp, Inc.(a)		5,321			99,183
WesBanco, Inc.		6,206			100,910

Investments		Shares		Value
Wilshire Bancorp, Inc.(a)		12,696		$	140,037
Total Commercial Banks					7,079,821
Commercial Services & Supplies – 3.5%
APAC Customer Services, Inc.		28,778			165,474
ATC Technology Corp.*		7,048			120,944
Consolidated Graphics, Inc.*		2,707			112,097
Cornell Cos., Inc.*		6,180			113,156
Courier Corp.		2,863			47,268
Deluxe Corp.		40,100			778,742
EnergySolutions, Inc.		18,061			116,132
Ennis, Inc.		10,395			169,127
Innerworkings, Inc.*(a)		5,161			26,837
Kimball International, Inc. Class B		4,381			30,448
Knoll, Inc.		23,697			266,591
M&F Worldwide Corp.*		18,268			559,001
McGrath Rentcorp		7,754			187,879
Mobile Mini, Inc.*		10,710			165,898
Multi-Color Corp.		5,490			65,770
PRGX Global, Inc.*		19,211			112,769
Standard Parking Corp.*		4,875			80,047
Team, Inc.*		5,177			85,886
U.S. Ecology, Inc.		5,206			83,817
Total Commercial Services & Supplies					3,287,883
Communications Equipment – 0.8%
Acme Packet, Inc.*		5,407			104,247
Anaren, Inc.*		3,775			53,756
BigBand Networks, Inc.*		1,461			5,157
Black Box Corp.		6,192			190,466
Cogo Group, Inc.*		6,223			43,499
DG FastChannel, Inc.*		2,955			94,412
Digi International, Inc.*		2,669			28,398
EMS Technologies, Inc.*		5,376			89,242
Globecomm Systems, Inc.*		3,833			29,476
Seachange International, Inc.*		7,255			52,091
Telestone Technologies Corp.*(a)		3,276			57,330
Total Communications Equipment					748,074
Computers & Peripherals – 0.7%
Compellent Technologies, Inc.*(a)		1,167			20,481
Cray, Inc.*		9,087			54,067
Netezza Corp.*(a)		12,954			165,682
Rimage Corp.*		2,317			33,504
STEC, Inc.*(a)		19,658			235,503
Stratasys, Inc.*(a)		1,757			42,836
Super Micro Computer, Inc.*		6,558			113,322
Total Computers & Peripherals					665,395
Construction & Engineering – 0.9%
Comfort Systems USA, Inc.(a)		16,350			204,212
Dycom Industries, Inc.*		1,711			15,005
Furmanite Corp.*(a)		6,303			32,713
Great Lakes Dredge & Dock Corp.		14,754			77,459
Michael Baker Corp.*		2,990			103,095
MYR Group, Inc.*		5,544			90,423

 

See Notes to Financial Statements.

 

42		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Northwest Pipe Co.*		4,889		$	106,825
Orion Marine Group, Inc.*(a)		5,324			96,098
Pike Electric Corp.*(a)		5,676			52,900
Sterling Construction Co., Inc.*		6,977			109,678
Total Construction & Engineering					888,408
Consumer Finance – 1.6%
Advance America, Cash Advance Centers, Inc.		36,977			215,206
Dollar Financial Corp.*		11,829			284,606
Ezcorp, Inc. Class A*		21,284			438,450
First Cash Financial Services, Inc.*		9,616			207,417
World Acceptance Corp.*(a)		10,730			387,139
Total Consumer Finance					1,532,818
Containers & Packaging – 0.8%
AEP Industries, Inc.*		5,174			134,627
Boise, Inc.*(a)		84,076			515,386
Bway Holding Co.*		5,581			112,178
Total Containers & Packaging					762,191
Distributors – 0.2%
Core-Mark Holding Co., Inc.*		7,649			234,136
Diversified Consumer Services – 1.1%
American Public Education, Inc.*		3,287			153,174
ChinaCast Education Corp.*		5,973			43,663
Jackson Hewitt Tax Service, Inc.*(a)		18,844			37,688
K12, Inc.*(a)		3,265			72,516
Learning Tree International, Inc.*(a)		2,776			39,058
Lincoln Educational Services Corp.*		9,611			243,158
Pre-Paid Legal Services, Inc.*(a)		7,420			280,847
Stewart Enterprises, Inc. Class A(a)		21,789			136,181
Universal Technical Institute, Inc.*		1,270			28,982
Total Diversified Consumer Services					1,035,267
Diversified Financial Services – 1.0%
Asset Acceptance Capital Corp.*		6,523			41,160
Encore Capital Group, Inc.*(a)		7,158			117,749
Interactive Brokers Group, Inc. Class A*(a)		15,753			254,411
Life Partners Holdings, Inc.		7,623			169,002
MarketAxess Holdings, Inc.		4,292			67,513
Medallion Financial Corp.(a)		6,264			49,862
Portfolio Recovery Associates, Inc.*		5,290			290,262
Total Diversified Financial Services					989,959
Diversified Telecommunication Services – 1.6%
Alaska Communications Systems Group, Inc.(a)		3,702			30,060
Atlantic Tele-Network, Inc.		3,661			164,489
Cincinnati Bell, Inc.*(a)		189,638			646,666
Cogent Communications Group, Inc.*		13,648			142,076
Consolidated Communications Holdings, Inc.(a)		5,650			107,124
General Communication, Inc. Class A*(a)		2,537			14,638
HickoryTech Corp.		7,234			63,876
Iowa Telecommunications Services, Inc.		5,104			85,237
Neutral Tandem, Inc.*		9,527			152,241
Premiere Global Services, Inc.*		15,957			131,805
Total Diversified Telecommunication Services					1,538,212

Investments		Shares		Value
Electric Utilities – 0.3%
Central Vermont Public Service Corp.		3,721		$	75,053
Empire District Electric Co. (The)		9,697			174,740
Unitil Corp.		2,114			49,150
Total Electric Utilities					298,943
Electrical Equipment – 1.4%
Advanced Battery Technologies, Inc.*(a)		27,601			107,644
AZZ, Inc.(a)		6,336			214,473
Encore Wire Corp.(a)		5,237			108,929
Franklin Electric Co., Inc.(a)		3,295			98,817
Fushi Copperweld, Inc.*(a)		10,946			122,814
GT Solar International, Inc.*(a)		66,194			346,195
Harbin Electric, Inc.*(a)		2,271			49,031
LaBarge, Inc.*		4,316			47,692
Powell Industries, Inc.*		6,358			206,826
PowerSecure International, Inc.*(a)		1,382			10,890
Total Electrical Equipment					1,313,311
Electronic Equipment, Instruments & Components – 1.6%
Checkpoint Systems, Inc.*		3,348			74,058
Cogent, Inc.*(a)		18,417			187,853
Daktronics, Inc.(a)		6,393			48,715
DTS, Inc.*		1,242			42,278
Electro Rent Corp.		4,252			55,829
IPG Photonics Corp.*		4,003			59,244
Mercury Computer Systems, Inc.*		6,948			95,327
MTS Systems Corp.(a)		3,383			98,208
Multi-Fineline Electronix, Inc.*		8,658			223,030
OSI Systems, Inc.*		3,589			100,671
Park Electrochemical Corp.		2,917			83,835
Rofin-Sinar Technologies, Inc.*		1,932			43,702
Scansource, Inc.*		9,098			261,840
Spectrum Control, Inc.*(a)		4,789			55,983
TTM Technologies, Inc.*		5,162			45,839
Total Electronic Equipment, Instruments & Components					1,476,412
Energy Equipment & Services – 3.0%
Boots & Coots, Inc.*		31,059			75,473
Cal Dive International, Inc.*		78,072			572,268
Dawson Geophysical Co.*		2,675			78,217
Global Industries Ltd.*		34,138			219,166
Gulf Island Fabrication, Inc.		4,497			97,810
Gulfmark Offshore, Inc. Class A*		19,482			517,247
Hornbeck Offshore Services, Inc.*(a)		17,075			317,083
Matrix Service Co.*		14,276			153,610
Natural Gas Services Group, Inc.*		3,739			59,338
OYO Geospace Corp.*		1,206			57,659
Parker Drilling Co.*		54,581			269,084
PHI, Inc.*		4,809			101,855
T-3 Energy Services, Inc.*		5,151			126,508
Willbros Group, Inc.*		15,553			186,791
Total Energy Equipment & Services					2,832,109

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		43

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Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Food & Staples Retailing – 1.6%
Arden Group, Inc. Class A		1,298		$	137,951
Ingles Markets, Inc. Class A		11,470			172,394
Nash Finch Co.		5,775			194,329
Pantry, Inc. (The)*(a)		27,679			345,711
Pricesmart, Inc.(a)		10,968			255,006
Spartan Stores, Inc.(a)		12,171			175,506
Susser Holdings Corp.*(a)		8,312			70,236
Village Super Market, Inc. Class A		5,180			145,195
Winn-Dixie Stores, Inc.*		5,322			66,472
Total Food & Staples Retailing					1,562,800
Food Products – 3.0%
AgFeed Industries, Inc.*(a)		12,094			53,093
American Dairy, Inc.*(a)		15,874			303,987
American Italian Pasta Co. Class A*		12,528			486,963
B&G Foods, Inc. Class A		8,653			90,683
Calavo Growers, Inc.(a)		4,639			84,615
Cal-Maine Foods, Inc.(a)		11,654			394,954
Chiquita Brands International, Inc.*(a)		21,586			339,548
Darling International, Inc.*		19,489			174,621
Diamond Foods, Inc.		3,569			150,041
Hain Celestial Group, Inc.*		8,334			144,595
J&J Snack Foods Corp.		5,580			242,563
Lifeway Foods, Inc.*		2,456			29,153
Seneca Foods Corp. Class A*(a)		5,605			163,218
Smart Balance, Inc.*		676			4,380
Zhongpin, Inc.*(a)		13,901			176,543
Total Food Products					2,838,957
Gas Utilities – 0.4%
Chesapeake Utilities Corp.(a)		2,179			64,934
China Natural Gas, Inc.*(a)		7,645			74,998
Laclede Group, Inc. (The)(a)		8,145			274,649
Total Gas Utilities					414,581
Health Care Equipment & Supplies – 2.8%
Abaxis, Inc.*		2,827			76,866
Accuray, Inc.*		847			5,158
Analogic Corp.(a)		726			31,022
Angiodynamics, Inc.*(a)		3,248			50,734
Atrion Corp.		603			86,253
Cantel Medical Corp.		4,154			82,457
Conceptus, Inc.*(a)		1,684			33,613
Conmed Corp.*		3,739			89,026
CryoLife, Inc.*		22,261			144,029
Cyberonics, Inc.*		18,717			358,618
Exactech, Inc.*		3,164			66,349
Greatbatch, Inc.*		6,318			133,878
ICU Medical, Inc.*		3,855			132,805
IRIS International, Inc.*		3,341			34,112
Kensey Nash Corp.*		4,161			98,158
Medical Action Industries, Inc.*		2,927			35,914
Merit Medical Systems, Inc.*(a)		6,384			97,356
Micrus Endovascular Corp.*		1,425			28,101

Investments		Shares		Value
Natus Medical, Inc.*		4,819		$	76,670
Neogen Corp.*(a)		3,120			78,312
Quidel Corp.*(a)		7,200			104,688
RTI Biologics, Inc.*		6,836			29,600
Somanetics Corp.*		2,786			53,324
SonoSite, Inc.*		695			22,316
SurModics, Inc.*(a)		7,887			165,154
Symmetry Medical, Inc.*		21,486			215,719
Synovis Life Technologies, Inc.*		1,977			30,703
Vascular Solutions, Inc.*		11,428			102,738
Wright Medical Group, Inc.*		2,017			35,842
Young Innovations, Inc.(a)		2,833			79,777
Zoll Medical Corp.*		2,067			54,486
Total Health Care Equipment & Supplies					2,633,778
Health Care Providers & Services – 6.5%
Air Methods Corp.*		4,496			152,864
Alliance Healthcare Services, Inc.*		10,994			61,786
Allied Healthcare International, Inc.*		17,754			48,291
Almost Family, Inc.*		3,010			113,447
America Service Group, Inc.		2,881			46,355
American Dental Partners, Inc.*		2,970			38,759
AMN Healthcare Services, Inc.*		1,323			11,642
Amsurg Corp.*		12,141			262,124
Assisted Living Concepts, Inc. Class A*(a)		2,920			95,893
Bio-Reference Labs, Inc.*		2,944			129,448
Capital Senior Living Corp.*		1,802			9,479
CardioNet, Inc.*(a)		1,980			15,147
Chindex International, Inc.*		2,491			29,419
Continucare Corp.*		24,283			89,847
Corvel Corp.*		3,430			122,623
Cross Country Healthcare, Inc.*		1,991			20,129
Ensign Group, Inc. (The)		10,853			188,083
Five Star Quality Care, Inc.*		56,407			172,041
Genoptix, Inc.*(a)		3,888			137,985
Gentiva Health Services, Inc.*(a)		11,764			332,686
Hanger Orthopedic Group, Inc.*		11,745			213,524
Health Grades, Inc.*		7,753			49,309
Healthways, Inc.*		13,483			216,672
inVentiv Health, Inc.*		14,878			334,160
IPC The Hospitalist Co., Inc.*		3,013			105,786
Kindred Healthcare, Inc.*(a)		19,960			360,278
Landauer, Inc.(a)		1,960			127,831
LHC Group, Inc.*(a)		6,402			214,659
Medcath Corp.*		2,573			26,939
Molina Healthcare, Inc.*		12,061			303,575
MWI Veterinary Supply, Inc.*		3,654			147,622
National Healthcare Corp.		4,238			149,940
Odyssey HealthCare, Inc.*		11,719			212,231
PharMerica Corp.*(a)		8,936			162,814
RehabCare Group, Inc.*(a)		5,023			136,977
Res-Care, Inc.*		17,732			212,607
Skilled Healthcare Group, Inc. Class A*		26,101			161,043
Sun Healthcare Group, Inc.*(a)		68,634			654,768

 

See Notes to Financial Statements.

 

44		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Triple-S Management Corp. Class B*		13,329		$	236,590
U.S. Physical Therapy, Inc.*		3,857			67,112
Virtual Radiologic Corp.*(a)		3,098			34,078
Total Health Care Providers & Services					6,206,563
Health Care Technology – 0.3%
Computer Programs & Systems, Inc.		1,805			70,539
Medidata Solutions, Inc.*(a)		980			14,896
MedQuist, Inc.		7,041			54,990
Merge Healthcare, Inc.*		9,341			19,336
Omnicell, Inc.*		2,137			29,982
Phase Forward, Inc.*(a)		3,725			48,686
Transcend Services, Inc.*(a)		1,947			31,639
Total Health Care Technology					270,068
Hotels, Restaurants & Leisure – 5.7%
AFC Enterprises*		9,470			101,613
Ambassadors Group, Inc.(a)		8,447			93,339
BJ’s Restaurants, Inc.*(a)		4,407			102,683
Buffalo Wild Wings, Inc.*(a)		3,826			184,069
California Pizza Kitchen, Inc.*		3,862			64,843
Caribou Coffee Co., Inc.*(a)		2,238			14,816
Carrols Restaurant Group, Inc.*		16,047			109,120
CEC Entertainment, Inc.*(a)		9,443			359,684
Churchill Downs, Inc.(a)		2,990			112,125
CKE Restaurants, Inc.(a)		22,265			246,474
Denny’s Corp.*		29,821			114,513
DineEquity, Inc.*(a)		6,861			271,215
Domino’s Pizza, Inc.*(a)		44,847			611,713
Dover Downs Gaming & Entertainment, Inc.		18,671			73,937
Einstein Noah Restaurant Group, Inc.*(a)		43,156			524,345
Interval Leisure Group, Inc.*		17,834			259,663
Isle of Capri Casinos, Inc.*		8,584			66,784
Landry’s Restaurants, Inc.*(a)		5,457			97,789
Marcus Corp.(a)		6,450			83,785
Monarch Casino & Resort, Inc.*(a)		3,288			28,080
Papa John’s International, Inc.*		12,401			318,830
Peet’s Coffee & Tea, Inc.*(a)		2,056			81,520
PF Chang’s China Bistro, Inc.*(a)		5,366			236,802
Red Robin Gourmet Burgers, Inc.*		6,730			164,481
Ruby Tuesday, Inc.*(a)		1,940			20,506
Shuffle Master, Inc.*		12,581			103,038
Sonic Corp.*		25,603			282,913
Speedway Motorsports, Inc.		25,455			397,353
Texas Roadhouse, Inc.*		21,016			291,912
Total Hotels, Restaurants & Leisure					5,417,945
Household Durables – 0.7%
Blyth, Inc.		3,044			95,125
CSS Industries, Inc.		4,122			82,852
Deer Consumer Products, Inc.*		3,225			39,152
Hooker Furniture Corp.		1,504			24,184
iRobot Corp.*(a)		1,623			24,605
National Presto Industries, Inc.(a)		3,008			357,681

Investments		Shares		Value
Universal Electronics, Inc.*(a)		3,263		$	72,895
Total Household Durables					696,494
Household Products – 0.6%
Central Garden and Pet Co. Class A*		34,980			320,417
Orchids Paper Products Co.*(a)		3,215			52,887
WD-40 Co.		4,934			161,983
Total Household Products					535,287
Industrial Conglomerates – 0.3%
Raven Industries, Inc.		4,389			129,432
Standex International Corp.		2,408			62,054
Tredegar Corp.(a)		4,305			73,529
Total Industrial Conglomerates					265,015
Insurance – 8.7%
American Equity Investment Life Holding Co.		8,548			91,036
American Physicians Capital, Inc.(a)		7,476			238,858
American Physicians Service Group, Inc.		5,003			125,075
AMERISAFE, Inc.*(a)		12,544			205,345
Amtrust Financial Services, Inc.(a)		51,702			721,243
Baldwin & Lyons, Inc. Class B		7,646			184,192
CNA Surety Corp.*		33,370			593,652
Donegal Group, Inc. Class A(a)		6,045			87,713
eHealth, Inc.*(a)		5,193			81,790
EMC Insurance Group, Inc.		6,914			155,703
Employers Holdings, Inc.(a)		31,132			462,310
FBL Financial Group, Inc. Class A		13,059			319,684
First Mercury Financial Corp.		13,486			175,723
FPIC Insurance Group, Inc.*(a)		6,509			176,459
Hallmark Financial Services, Inc.*		11,754			105,786
Horace Mann Educators Corp.		23,693			356,817
Infinity Property & Casualty Corp.(a)		10,342			469,941
Kansas City Life Insurance Co.		1,974			62,339
MBIA, Inc.*(a)		328,390			2,059,005
Meadowbrook Insurance Group, Inc.		36,652			289,551
National Interstate Corp.(a)		8,553			177,133
National Western Life Insurance Co. Class A		1,506			277,631
NYMAGIC, Inc.		3,562			75,621
PMA Capital Corp. Class A*		16,506			101,347
Presidential Life Corp.		2,626			26,181
Safety Insurance Group, Inc.		7,973			300,343
SeaBright Insurance Holdings, Inc.		11,322			124,655
State Auto Financial Corp.		4,926			88,422
Universal Insurance Holdings, Inc.(a)		35,861			181,457
Total Insurance					8,315,012
Internet & Catalog Retail – 0.3%
NutriSystem, Inc.(a)		4,981			88,712
PetMed Express, Inc.(a)		6,962			154,347
Total Internet & Catalog Retail					243,059
Internet Software & Services – 0.9%
Art Technology Group, Inc.*		17,881			78,855
comScore, Inc.*		7,163			119,551

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		45

---

Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Dice Holdings, Inc.*		12,360		$	93,936
Innodata Isogen, Inc.*		11,974			48,495
Internet Brands, Inc. Class A*		7,674			70,754
Keynote Systems, Inc.		1,533			17,461
Knot, Inc. (The)*		482			3,769
Limelight Networks, Inc.*		41,504			151,905
Liquidity Services, Inc.*(a)		4,047			46,702
LivePerson, Inc.*		3,436			26,354
LoopNet, Inc.*(a)		6,179			69,452
NIC, Inc.		8,111			63,834
OpenTable, Inc.*(a)		209			7,969
Perficient, Inc.*		989			11,146
Saba Software, Inc.*(a)		1,060			5,247
Travelzoo, Inc.*(a)		2,490			37,375
Vocus, Inc.*(a)		202			3,444
Total Internet Software & Services					856,249
IT Services – 1.9%
Cass Information Systems, Inc.(a)		2,736			85,226
China Information Security Technology, Inc.*(a)		21,834			110,262
Ciber, Inc.*		29,843			111,613
Computer Task Group, Inc.*		5,150			37,337
CSG Systems International, Inc.*		15,009			314,589
Dynamics Research Corp.*		3,811			42,950
ExlService Holdings, Inc.*		3,684			61,449
Forrester Research, Inc.*		4,635			139,374
Global Cash Access Holdings, Inc.*		21,803			178,131
Hackett Group, Inc. (The)*		14,978			41,639
iGate Corp.		14,526			141,338
infoGROUP, Inc.*		4,576			35,693
Integral Systems, Inc.*		4,639			44,674
MoneyGram International, Inc.*		54,475			207,550
NCI, Inc. Class A*		3,889			117,564
Ness Technologies, Inc.*		6,765			42,687
RightNow Technologies, Inc.*		1,295			23,129
TNS, Inc.*		641			14,294
Virtusa Corp.*		8,791			90,635
Total IT Services					1,840,134
Leisure Equipment & Products – 0.4%
RC2 Corp.*		7,685			115,044
Sport Supply Group, Inc.		5,067			68,101
Steinway Musical Instruments*		1,284			24,178
Sturm Ruger & Co., Inc.(a)		12,884			154,479
Total Leisure Equipment & Products					361,802
Life Sciences Tools & Services – 0.7%
Accelrys, Inc.*		2,333			14,371
Albany Molecular Research, Inc.*		2,914			24,332
Cambrex Corp.*		9,642			39,050
eResearch Technology, Inc.*		10,803			74,649
Harvard Bioscience, Inc.*		7,579			29,331
Kendle International, Inc.*		4,248			74,255
Luminex Corp.*(a)		1,445			24,319

Investments		Shares		Value
Parexel International Corp.*		15,094		$	351,841
Total Life Sciences Tools & Services					632,148
Machinery – 3.5%
Alamo Group, Inc.		3,569			71,344
Altra Holdings, Inc.*		3,163			43,428
American Railcar Industries, Inc.		6,265			76,182
Ampco-Pittsburgh Corp.(a)		4,979			123,579
Astec Industries, Inc.*(a)		5,495			159,135
Badger Meter, Inc.(a)		3,471			133,668
Blount International, Inc.*		9,405			97,436
Chart Industries, Inc.*		19,729			394,580
China Fire & Security Group, Inc.*(a)		10,512			136,341
CIRCOR International, Inc.(a)		1,531			50,845
Colfax Corp.*		9,359			110,155
Columbus McKinnon Corp.*		1,362			21,615
Dynamic Materials Corp.		3,339			52,155
Energy Recovery, Inc.*(a)		5,394			33,982
EnPro Industries, Inc.*		6,950			202,106
Federal Signal Corp.(a)		12,448			112,157
Force Protection, Inc.*		21,370			128,647
FreightCar America, Inc.(a)		6,256			151,145
Gorman-Rupp Co. (The)		3,180			80,899
Graham Corp.		2,963			53,304
John Bean Technologies Corp.		10,305			180,750
K-Tron International, Inc.*		1,015			152,220
LB Foster Co. Class A*		3,049			88,086
Lindsay Corp.		2,069			85,677
Met-Pro Corp.		2,659			26,058
Miller Industries, Inc.		2,175			27,035
PMFG, Inc.*		440			5,821
RBC Bearings, Inc.*		5,105			162,696
Robbins & Myers, Inc.(a)		11,547			275,050
SmartHeat, Inc.*		4,076			43,776
Sun Hydraulics Corp.		856			22,239
Titan International, Inc.(a)		3,979			34,737
Twin Disc, Inc.(a)		1,340			16,375
Total Machinery					3,353,223
Marine – 0.2%
American Commercial Lines, Inc.*		1,754			44,025
International Shipholding Corp.		6,477			190,359
Total Marine					234,384
Media – 1.4%
Arbitron, Inc.(a)		7,732			206,135
Belo Corp. Class A		45,782			312,233
CKX, Inc.*		13,607			83,411
Dolan Media Co.*(a)		8,243			89,601
EW Scripps Co. Class A*		4,933			41,684
Harte-Hanks, Inc.		22,667			291,498
Lee Enterprises, Inc.*		7,836			26,564
McClatchy Co. (The) Class A(a)		8,877			43,586
National CineMedia, Inc.		7,330			126,516

 

See Notes to Financial Statements.

 

46		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Rentrak Corp.*		1,244		$	26,808
Value Line, Inc.		3,447			79,591
Total Media					1,327,627
Metals & Mining – 0.0%
Haynes International, Inc.		272			9,664
Multiline Retail – 0.2%
Fred’s, Inc. Class A		13,690			164,006
Multi-Utilities – 0.1%
CH Energy Group, Inc.(a)		3,330			135,997
Oil, Gas & Consumable Fuels – 1.4%
Alon USA Energy, Inc.		9,150			66,337
China North East Petroleum Holdings Ltd.*(a)		13,045			115,318
Contango Oil & Gas Co.*		4,332			221,582
CVR Energy, Inc.*		56,594			495,197
Georesources, Inc.*		1,292			19,729
James River Coal Co.*		5,492			87,323
Northern Oil and Gas, Inc.*		1,541			24,425
Panhandle Oil and Gas, Inc. Class A		1,332			31,475
Rentech, Inc.*(a)		30,347			31,257
Syntroleum Corp.*		14,363			30,450
Western Refining, Inc.*(a)		39,546			217,503
Total Oil, Gas & Consumable Fuels					1,340,596
Paper & Forest Products – 2.6%
Buckeye Technologies, Inc.*		51,780			677,282
Clearwater Paper Corp.*		12,155			598,634
Glatfelter(a)		30,704			444,901
KapStone Paper and Packaging Corp.*		32,849			389,918
Verso Paper Corp.*		110,230			335,099
Total Paper & Forest Products					2,445,834
Personal Products – 1.0%
American Oriental Bioengineering, Inc.*(a)		46,767			190,809
China Sky One Medical, Inc.*(a)		9,700			152,387
China-Biotics, Inc.*(a)		4,682			83,855
Elizabeth Arden, Inc.*		2,191			39,438
Female Health Co. (The)		6,784			48,641
Inter Parfums, Inc.		10,067			149,193
Medifast, Inc.*(a)		1,574			39,555
Nutraceutical International Corp.*		5,701			85,173
USANA Health Sciences, Inc.*(a)		5,233			164,368
Total Personal Products					953,419
Pharmaceuticals – 0.6%
Cornerstone Therapeutics, Inc.*(a)		10,343			65,678
Hi-Tech Pharmacal Co., Inc.*		3,475			76,937
Impax Laboratories, Inc.*		2,790			49,885
Obagi Medical Products, Inc.*		4,331			52,752
Questcor Pharmaceuticals, Inc.*(a)		42,675			351,215
Total Pharmaceuticals					596,467
Professional Services – 1.5%
Administaff, Inc.(a)		6,274			133,887
Advisory Board Co. (The)*		2,350			74,025
CBIZ, Inc.*		24,196			158,968

Investments		Shares		Value
COMSYS IT Partners, Inc.*		6,106		$	106,733
Corporate Executive Board Co. (The)(a)		9,580			254,732
CRA International, Inc.*		1,337			30,644
Exponent, Inc.*		4,208			120,012
Hill International, Inc.*		13,351			77,836
ICF International, Inc.*		4,323			107,383
Navigant Consulting, Inc.*		9,769			118,498
On Assignment, Inc.*		5,792			41,297
School Specialty, Inc.*		5,495			124,792
VSE Corp.		2,875			118,335
Total Professional Services					1,467,142
Real Estate Investment Trusts (REITs) – 1.6%
Acadia Realty Trust(a)		6,190			110,553
Agree Realty Corp.		3,420			78,181
Cedar Shopping Centers, Inc.		6,992			55,307
Cogdell Spencer, Inc.		27,143			200,858
Cousins Properties, Inc.		10,187			84,654
DuPont Fabros Technology, Inc.		3,608			77,897
First Potomac Realty Trust		3,864			58,076
Getty Realty Corp.(a)		8,853			207,160
Inland Real Estate Corp.(a)		2,033			18,602
Investors Real Estate Trust		3,202			28,882
LTC Properties, Inc.		5,243			141,876
Mission West Properties, Inc.		8,187			56,326
Monmouth Real Estate Investment Corp. Class A		1,680			14,129
Ramco-Gershenson Properties Trust		4,036			45,445
Saul Centers, Inc.		3,532			146,225
Universal Health Realty Income Trust		2,217			78,349
Urstadt Biddle Properties, Inc. Class A(a)		5,105			80,710
Total Real Estate Investment Trusts (REITs)					1,483,230
Real Estate Management & Development – 0.4%
China Housing & Land Development, Inc.*(a)		13,468			51,178
Consolidated-Tomoka Land Co.		482			15,188
Forestar Group, Inc.*		16,225			306,328
Total Real Estate Management & Development					372,694
Road & Rail – 0.2%
Celadon Group, Inc.*		723			10,078
Marten Transport Ltd.*		5,108			100,679
Patriot Transportation Holding, Inc.*		486			41,057
Universal Truckload Services, Inc.(a)		1,834			32,242
Total Road & Rail					184,056
Semiconductors & Semiconductor Equipment – 0.8%
Cabot Microelectronics Corp.*(a)		2,110			79,821
Ceva, Inc.*		1,506			17,560
Cirrus Logic, Inc.*(a)		1,521			12,761
Diodes, Inc.*		1,913			42,851
Kopin Corp.*		15,320			56,684
Micrel, Inc.(a)		11,426			121,801
MIPS Technologies, Inc.*		10,470			46,696
Monolithic Power Systems, Inc.*		4,154			92,634
NVE Corp.*		1,455			65,912

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		47

---

Table of Contents

Schedule of Investments (continued)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Pericom Semiconductor Corp.*		1,576		$	16,879
Sigma Designs, Inc.*(a)		9,209			108,022
Supertex, Inc.*(a)		1,165			29,812
Techwell, Inc.*(a)		1,384			25,881
Ultratech, Inc.*		1,724			23,447
Volterra Semiconductor Corp.*		1,767			44,352
Total Semiconductors & Semiconductor Equipment					785,113
Software – 2.2%
ACI Worldwide, Inc.*		3,606			74,320
Actuate Corp.*(a)		16,693			93,314
American Software, Inc. Class A		2,492			14,478
ArcSight, Inc.*		2,558			72,008
China TransInfo Technology Corp.*(a)		7,471			50,355
Deltek, Inc.*		12,490			95,424
Double-Take Software, Inc.*		6,821			60,775
Ebix, Inc.*(a)		11,799			188,430
EPIQ Systems, Inc.*		5,917			73,548
Interactive Intelligence, Inc.*		2,495			46,632
Kenexa Corp.*(a)		1,899			26,111
Manhattan Associates, Inc.*		3,013			76,771
Monotype Imaging Holdings, Inc.*		7,942			77,276
Netscout Systems, Inc.*		10,055			148,713
Opnet Technologies, Inc.		1,333			21,488
PROS Holdings, Inc.*		4,347			42,948
Radiant Systems, Inc.*		5,230			74,632
Rosetta Stone, Inc.*(a)		1,844			43,850
S1 Corp.*		21,161			124,850
Smith Micro Software, Inc.*		3,299			29,163
SonicWALL, Inc.*		11,826			102,768
Sourcefire, Inc.*		952			21,848
Synchronoss Technologies, Inc.*		3,351			64,909
TeleCommunication Systems, Inc. Class A*(a)		32,085			235,183
Tyler Technologies, Inc.*(a)		6,816			127,732
VASCO Data Security International, Inc.*(a)		8,051			66,421
Total Software					2,053,947
Specialty Retail – 3.8%
America’s Car-Mart, Inc.*(a)		4,716			113,750
Asbury Automotive Group, Inc.*(a)		4,188			55,700
Big 5 Sporting Goods Corp.		5,545			84,395
Books-A-Million, Inc.		10,894			78,873
Cato Corp. (The) Class A		11,079			237,534
Citi Trends, Inc.*(a)		3,472			112,632
Conn’s, Inc.*(a)		11,856			92,833
Destination Maternity Corp.*		2,785			71,463
Finish Line, Inc. (The) Class A		5,692			92,893
Genesco, Inc.*		4,788			148,476
Group 1 Automotive, Inc.*(a)		11,997			382,224
hhgregg, Inc.*		9,091			229,457
Hibbett Sports, Inc.*(a)		7,173			183,485
HOT Topic, Inc.*(a)		15,882			103,233
JOS A Bank Clothiers, Inc.*		8,186			447,365
Kirkland’s, Inc.*		8,231			172,851
Lithia Motors, Inc. Class A*(a)		6,978			44,659

Investments		Shares		Value
Lumber Liquidators Holdings, Inc.*		4,936		$	131,643
Midas, Inc.*		2,835			31,979
Monro Muffler, Inc.		4,387			156,879
Shoe Carnival, Inc.*		2,472			56,510
Stage Stores, Inc.		11,360			174,830
Systemax, Inc.		12,284			267,054
Wet Seal, Inc. (The) Class A*		25,605			121,880
Zumiez, Inc.*(a)		3,489			71,490
Total Specialty Retail					3,664,088
Textiles, Apparel & Luxury Goods – 1.6%
American Apparel, Inc.*		5,002			15,156
Cherokee, Inc.(a)		3,780			68,040
Fuqi International, Inc.*(a)		13,248			144,403
G-III Apparel Group Ltd.*		3,768			103,846
Maidenform Brands, Inc.*		9,967			217,779
Oxford Industries, Inc.		5,078			103,236
Steven Madden Ltd.*(a)		5,623			274,402
True Religion Apparel, Inc.*(a)		12,613			382,931
Volcom, Inc.*(a)		6,828			133,283
Weyco Group, Inc.		2,333			54,872
Total Textiles, Apparel & Luxury Goods					1,497,948
Thrifts & Mortgage Finance – 1.4%
Bank Mutual Corp.		12,668			82,342
BankFinancial Corp.		4,375			40,119
Beneficial Mutual Bancorp, Inc.*		4,847			45,950
Berkshire Hills Bancorp, Inc.		2,481			45,477
Brookline Bancorp, Inc.		9,612			102,272
Dime Community Bancshares		10,353			130,758
ESSA Bancorp, Inc.		2,865			35,927
Flushing Financial Corp.		10,714			135,639
Kearny Financial Corp.(a)		2,958			30,852
NASB Financial, Inc.(a)		3,004			69,452
OceanFirst Financial Corp.(a)		6,935			78,782
Provident Financial Services, Inc.		14,500			172,550
Provident New York Bancorp		15,236			144,437
Roma Financial Corp.		1,584			19,863
TrustCo Bank Corp.(a)		19,947			123,073
United Financial Bancorp, Inc.(a)		2,152			30,085
Westfield Financial, Inc.		2,321			21,330
Total Thrifts & Mortgage Finance					1,308,908
Tobacco – 0.6%
Alliance One International, Inc.*(a)		114,714			583,894
Trading Companies & Distributors – 1.6%
Aceto Corp.(a)		4,926			29,753
Beacon Roofing Supply, Inc.*		18,704			357,808
DXP Enterprises, Inc.*		6,533			83,426
H&E Equipment Services, Inc.*(a)		5,313			57,274
Houston Wire & Cable Co.		4,243			49,134
Interline Brands, Inc.*		8,532			163,302
Kaman Corp.		3,693			92,362
Rush Enterprises, Inc. Class A*		5,248			69,326
TAL International Group, Inc.(a)		15,622			312,128

 

See Notes to Financial Statements.

 

48		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (concluded)

WisdomTree SmallCap Earnings Fund (EES)

March 31, 2010

  

 

 

Investments		Shares		Value
Titan Machinery, Inc.*		8,285		$	113,422
United Rentals, Inc.*		10,222			95,882
Willis Lease Finance Corp.*		7,978			125,893
Total Trading Companies & Distributors					1,549,710
Water Utilities – 0.7%
American States Water Co.		4,623			160,418
Artesian Resources Corp. Class A		2,106			37,192
California Water Service Group		5,690			214,001
Connecticut Water Service, Inc.(a)		2,139			49,775
Middlesex Water Co.(a)		2,692			45,899
SJW Corp.(a)		3,306			84,038
York Water Co.		2,448			33,660
Total Water Utilities					624,983
Wireless Telecommunication Services – 0.9%
NTELOS Holdings Corp.		16,303			290,030
Shenandoah Telecommunications Co.(a)		6,793			127,709
USA Mobility, Inc.(a)		37,527			475,467
Total Wireless Telecommunication Services					893,206
TOTAL COMMON STOCKS (Cost: $89,259,180)					94,753,928
SHORT-TERM INVESTMENT – 0.7%
MONEY MARKET FUND – 0.7%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $662,164)		662,164			662,164
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 22.0%
MONEY MARKET FUND – 22.0%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $20,957,169)(d)		20,957,169			20,957,169
TOTAL INVESTMENTS IN SECURITIES – 122.1% (Cost: $110,878,513)(e)					116,373,261
Liabilities in Excess of Other Assets – (22.1)%					(21,067,139	)
NET ASSETS – 100.0%				$	95,306,122

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $20,085,665 and the total market value of the collateral held by the Fund was $20,957,169.

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		49

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Table of Contents

Schedule of Investments

WisdomTree LargeCap Value Fund (EZY)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.5%
Aerospace & Defense – 2.3%
Curtiss-Wright Corp.		480		$	16,704
ITT Corp.		2,755			147,695
L-3 Communications Holdings, Inc.		1,538			140,927
Moog, Inc. Class A*		685			24,263
Northrop Grumman Corp.		5,727			375,519
Spirit Aerosystems Holdings, Inc. Class A*		3,394			79,352
Triumph Group, Inc.		321			22,499
Total Aerospace & Defense					806,959
Airlines – 0.1%
Allegiant Travel Co.*(a)		107			6,191
Skywest, Inc.		988			14,109
Total Airlines					20,300
Beverages – 0.2%
Constellation Brands, Inc. Class A*		3,495			57,458
Capital Markets – 0.7%
BlackRock, Inc.		815			177,474
Knight Capital Group, Inc. Class A*		1,133			17,278
Raymond James Financial, Inc.		1,545			41,313
Stifel Financial Corp.*		146			7,848
Total Capital Markets					243,913
Chemicals – 1.1%
Airgas, Inc.		1,043			66,356
H.B. Fuller Co.		1,075			24,951
Lubrizol Corp.		1,323			121,345
Olin Corp.		1,395			27,370
RPM International, Inc.		3,274			69,867
Scotts Miracle-Gro Co. (The) Class A		665			30,823
Sensient Technologies Corp.		491			14,268
Valspar Corp.		958			28,242
Total Chemicals					383,222
Commercial Banks – 0.6%
BancorpSouth, Inc.		738			15,468
BOK Financial Corp.		605			31,726
First Citizens BancShares, Inc. Class A		87			17,292
Iberiabank Corp.		115			6,901
M&T Bank Corp.(a)		1,552			123,198
Trustmark Corp.		620			15,147
UMB Financial Corp.		288			11,693
WesBanco, Inc.		223			3,626
Total Commercial Banks					225,051
Commercial Services & Supplies – 0.3%
ABM Industries, Inc.		518			10,982
Cintas Corp.		1,590			44,663
Tetra Tech, Inc.*		366			8,433
United Stationers, Inc.*		438			25,776
Total Commercial Services & Supplies					89,854
Communications Equipment – 0.2%
Arris Group, Inc.*		1,601			19,228
Plantronics, Inc.		891			27,870

Investments		Shares		Value
Tekelec*		561		$	10,188
Tellabs, Inc.		2,738			20,727
Total Communications Equipment					78,013
Computers & Peripherals – 6.1%
Hewlett-Packard Co.		34,305			1,823,311
Lexmark International, Inc. Class A*		2,681			96,731
Synaptics, Inc.*		181			4,997
Western Digital Corp.*		5,382			209,844
Total Computers & Peripherals					2,134,883
Construction & Engineering – 0.6%
Aecom Technology Corp.*		768			21,788
EMCOR Group, Inc.*		1,441			35,492
Granite Construction, Inc.		381			11,514
Insituform Technologies, Inc. Class A*		188			5,003
KBR, Inc.		2,751			60,962
MasTec, Inc.*		676			8,524
Quanta Services, Inc.*		1,065			20,405
URS Corp.*		696			34,529
Total Construction & Engineering					198,217
Consumer Finance – 0.1%
AmeriCredit Corp.*		1,157			27,490
Containers & Packaging – 0.7%
Ball Corp.		1,081			57,704
Bemis Co., Inc.		1,033			29,668
Rock-Tenn Co. Class A		669			30,486
Sealed Air Corp.		2,493			52,552
Silgan Holdings, Inc.		346			20,840
Sonoco Products Co.		1,658			51,050
Total Containers & Packaging					242,300
Distributors – 0.2%
Genuine Parts Co.		1,995			84,269
Diversified Consumer Services – 0.1%
Career Education Corp.*		400			12,656
Corinthian Colleges, Inc.*		250			4,398
Regis Corp.		658			12,291
Total Diversified Consumer Services					29,345
Diversified Financial Services – 0.0%
Interactive Brokers Group, Inc. Class A*		730			11,789
Diversified Telecommunication Services – 3.0%
CenturyTel, Inc.		1,589			56,346
Verizon Communications, Inc.		32,658			1,013,051
Total Diversified Telecommunication Services					1,069,397
Electric Utilities – 2.9%
ALLETE, Inc.		359			12,019
American Electric Power Co., Inc.		5,736			196,057
Cleco Corp.		724			19,222
Duke Energy Corp.		12,742			207,949
Edison International		5,314			181,579
El Paso Electric Co.*		660			13,596
Hawaiian Electric Industries, Inc.(a)		1,148			25,773

 

See Notes to Financial Statements.

 

50		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Value Fund (EZY)

March 31, 2010

  

 

 

Investments		Shares		Value
IDACORP, Inc.		638		$	22,088
MGE Energy, Inc.		184			6,506
Northeast Utilities		1,691			46,739
NV Energy, Inc.		2,877			35,473
Pepco Holdings, Inc.		4,217			72,322
Pinnacle West Capital Corp.		1,204			45,427
Portland General Electric Co.		580			11,200
Progress Energy, Inc.		2,693			105,997
Unisource Energy Corp.		107			3,364
Westar Energy, Inc.		1,147			25,578
Total Electric Utilities					1,030,889
Electrical Equipment – 0.5%
A.O. Smith Corp.		453			23,814
Baldor Electric Co.		836			31,267
Hubbell, Inc. Class B		1,091			55,019
Regal-Beloit Corp.		544			32,319
Thomas & Betts Corp.*		689			27,036
Total Electrical Equipment					169,455
Electronic Equipment, Instruments & Components – 1.5%
Anixter International, Inc.*		1,001			46,897
Arrow Electronics, Inc.*		3,269			98,495
Avnet, Inc.*		3,961			118,830
Benchmark Electronics, Inc.*		1,206			25,012
Ingram Micro, Inc. Class A*		3,614			63,426
Jabil Circuit, Inc.		3,127			50,626
Molex, Inc.		2,238			46,685
Tech Data Corp.*		788			33,017
Vishay Intertechnology, Inc.*		5,151			52,695
Total Electronic Equipment, Instruments & Components					535,683
Energy Equipment & Services – 0.1%
SEACOR Holdings, Inc.*		478			38,555
Food & Staples Retailing – 9.2%
BJ’s Wholesale Club, Inc.*(a)		555			20,529
Casey’s General Stores, Inc.		399			12,529
CVS Caremark Corp.		15,632			571,506
Kroger Co. (The)		7,756			167,995
Ruddick Corp.		569			18,003
Safeway, Inc.		6,081			151,174
SUPERVALU, Inc.		6,890			114,925
United Natural Foods, Inc.*		349			9,817
Walgreen Co.		10,339			383,474
Wal-Mart Stores, Inc.		32,265			1,793,934
Total Food & Staples Retailing					3,243,886
Food Products – 3.4%
American Italian Pasta Co. Class A*		151			5,870
Archer-Daniels-Midland Co.		11,683			337,639
ConAgra Foods, Inc.		4,529			113,542
Corn Products International, Inc.		1,679			58,194
Del Monte Foods Co.		2,759			40,282

Investments		Shares		Value
Hormel Foods Corp.(a)		1,114		$	46,799
Kraft Foods, Inc. Class A		18,139			548,523
Lancaster Colony Corp.		191			11,261
Ralcorp Holdings, Inc.*		476			32,263
Tootsie Roll Industries, Inc.		242			6,541
TreeHouse Foods, Inc.*		179			7,853
Total Food Products					1,208,767
Gas Utilities – 0.8%
AGL Resources, Inc.		1,035			40,003
Atmos Energy Corp.		966			27,599
Laclede Group, Inc. (The)		209			7,047
New Jersey Resources Corp.		363			13,634
Nicor, Inc.		438			18,361
Northwest Natural Gas Co.		250			11,650
Oneok, Inc.		1,727			78,837
Piedmont Natural Gas Co., Inc.		508			14,011
South Jersey Industries, Inc.		280			11,757
Southwest Gas Corp.		354			10,592
UGI Corp.		1,188			31,529
WGL Holdings, Inc.		452			15,662
Total Gas Utilities					280,682
Health Care Equipment & Supplies – 0.4%
Carefusion Corp.*		2,706			71,520
Cooper Cos., Inc. (The)		406			15,785
STERIS Corp.		682			22,956
Teleflex, Inc.		506			32,419
Total Health Care Equipment & Supplies					142,680
Health Care Providers & Services – 9.4%
Aetna, Inc.		7,437			261,113
Amedisys, Inc.*(a)		411			22,695
AMERIGROUP Corp.*		851			28,287
AmerisourceBergen Corp.		3,973			114,899
Cardinal Health, Inc.		5,766			207,749
Catalyst Health Solutions, Inc.*		328			13,573
Centene Corp.*		575			13,823
Chemed Corp.		215			11,692
Community Health Systems, Inc.*		1,682			62,116
DaVita, Inc.*		1,130			71,642
Health Net, Inc.*		2,536			63,070
Henry Schein, Inc.		874			51,479
Humana, Inc.*		3,141			146,904
LifePoint Hospitals, Inc.*		920			33,837
Lincare Holdings, Inc.*		1,378			61,845
Magellan Health Services, Inc.*		314			13,653
McKesson Corp.		4,768			313,353
Medco Health Solutions, Inc.*		3,439			222,022
Omnicare, Inc.		1,465			41,445
Owens & Minor, Inc.		341			15,819
PSS World Medical, Inc.*		513			12,061
Quest Diagnostics, Inc.		1,795			104,630
UnitedHealth Group, Inc.		24,492			800,154

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		51

---

Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Value Fund (EZY)

March 31, 2010

  

 

 

Investments		Shares		Value
Universal Health Services, Inc. Class B		1,374		$	48,214
WellPoint, Inc.*		8,894			572,596
Total Health Care Providers & Services					3,308,671
Health Care Technology – 0.2%
Allscripts-Misys Healthcare Solutions, Inc.*		666			13,027
Cerner Corp.*(a)		658			55,969
Total Health Care Technology					68,996
Hotels, Restaurants & Leisure – 0.4%
Bob Evans Farms, Inc.		397			12,271
Brinker International, Inc.		1,359			26,201
Buffalo Wild Wings, Inc.*		96			4,619
Burger King Holdings, Inc.		1,037			22,047
Darden Restaurants, Inc.		1,472			65,563
Jack In The Box, Inc.*		664			15,637
Panera Bread Co. Class A*		170			13,003
Total Hotels, Restaurants & Leisure					159,341
Household Durables – 0.6%
Jarden Corp.		2,761			91,914
Leggett & Platt, Inc.		1,481			32,049
Stanley Black & Decker, Inc.		1,361			78,135
Total Household Durables					202,098
Industrial Conglomerates – 0.1%
Carlisle Cos., Inc.		1,092			41,605
Insurance – 4.1%
American Financial Group, Inc.		1,602			45,577
AON Corp.		2,858			122,065
Chubb Corp.		5,377			278,798
Hanover Insurance Group, Inc. (The)(a)		364			15,874
HCC Insurance Holdings, Inc.		1,549			42,752
Marsh & McLennan Cos., Inc.		5,489			134,041
Navigators Group, Inc.*		137			5,388
Reinsurance Group of America, Inc.		769			40,388
RLI Corp.		204			11,632
Selective Insurance Group		567			9,412
StanCorp Financial Group, Inc.		910			43,343
Tower Group, Inc.		301			6,673
Transatlantic Holdings, Inc.		326			17,213
Travelers Cos., Inc. (The)		9,143			493,174
Unum Group		5,728			141,883
W.R. Berkley Corp.		1,212			31,621
Total Insurance					1,439,834
Internet Software & Services – 0.6%
AOL, Inc.*		6,941			175,469
Earthlink, Inc.		5,628			48,063
Total Internet Software & Services					223,532
IT Services – 1.1%
Broadridge Financial Solutions, Inc.		1,332			28,478
CACI International, Inc. Class A*		300			14,655
Computer Sciences Corp.*		3,425			186,628
Convergys Corp.*		4,407			54,030
Mantech International Corp. Class A*		273			13,331

Investments		Shares		Value
MAXIMUS, Inc.		225		$	13,709
SAIC, Inc.*		2,991			52,941
SRA International, Inc. Class A*		542			11,268
Total IT Services					375,040
Leisure Equipment & Products – 0.2%
Hasbro, Inc.		1,541			58,989
Life Sciences Tools & Services – 0.1%
Bio-Rad Laboratories, Inc. Class A*		212			21,946
Machinery – 2.1%
Briggs & Stratton Corp.		373			7,274
Cummins, Inc.		4,025			249,349
Dover Corp.		3,494			163,345
Gardner Denver, Inc.		1,125			49,545
Kennametal, Inc.		1,494			42,011
Mueller Industries, Inc.		491			13,154
Pentair, Inc.		1,376			49,013
Timken Co.		2,841			85,258
Trinity Industries, Inc.		3,849			76,826
Watts Water Technologies, Inc. Class A		487			15,126
Total Machinery					750,901
Media – 6.9%
Interactive Data Corp.		734			23,488
Time Warner, Inc.		76,351			2,387,496
Total Media					2,410,984
Metals & Mining – 0.4%
Reliance Steel & Aluminum Co.(a)		2,323			114,361
Schnitzer Steel Industries, Inc. Class A		743			39,030
Total Metals & Mining					153,391
Multiline Retail – 2.6%
Big Lots, Inc.*		938			34,162
Dollar Tree, Inc.*		665			39,381
Family Dollar Stores, Inc.		942			34,487
J.C. Penney Co., Inc.		3,682			118,450
Kohl’s Corp.*		2,708			148,344
Sears Holdings Corp.*(a)		914			99,105
Target Corp.		8,263			434,634
Total Multiline Retail					908,563
Multi-Utilities – 3.3%
Alliant Energy Corp.		1,430			47,562
Ameren Corp.		3,023			78,840
Avista Corp.		571			11,825
Centerpoint Energy, Inc.		5,410			77,688
CH Energy Group, Inc.		97			3,962
Consolidated Edison, Inc.		1,936			86,229
Integrys Energy Group, Inc.(a)		631			29,897
MDU Resources Group, Inc.		3,354			72,379
NiSource, Inc.		4,786			75,619
NorthWestern Corp.		372			9,973
NSTAR		934			33,082
OGE Energy Corp.		1,414			55,061
PG&E Corp.		4,025			170,741

 

See Notes to Financial Statements.

 

52		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Value Fund (EZY)

March 31, 2010

  

 

 

Investments		Shares		Value
SCANA Corp.		1,484		$	55,784
Sempra Energy		3,065			152,944
TECO Energy, Inc.		1,754			27,871
Vectren Corp.		793			19,603
Wisconsin Energy Corp.		1,106			54,647
Xcel Energy, Inc.		4,337			91,944
Total Multi-Utilities					1,155,651
Oil, Gas & Consumable Fuels – 22.7%
Chevron Corp.		43,082			3,266,908
CNX Gas Corp.*		1,298			49,389
ConocoPhillips		51,833			2,652,295
Hess Corp.		5,539			346,464
Holly Corp.		789			22,021
Marathon Oil Corp.		24,262			767,650
Murphy Oil Corp.		4,793			269,319
Southern Union Co.		2,510			63,679
Sunoco, Inc.		4,904			145,698
Tesoro Corp.		2,008			27,911
Valero Energy Corp.		17,906			352,748
World Fuel Services Corp.(a)		910			24,242
Total Oil, Gas & Consumable Fuels					7,988,324
Personal Products – 0.2%
NBTY, Inc.*		1,197			57,432
Pharmaceuticals – 0.8%
King Pharmaceuticals, Inc.*		5,634			66,256
Mylan, Inc.(a)		3,116			70,764
Watson Pharmaceuticals, Inc.*		3,489			145,736
Total Pharmaceuticals					282,756
Professional Services – 0.3%
Manpower, Inc.		1,491			85,166
Resources Connection, Inc.*		396			7,591
Total Professional Services					92,757
Road & Rail – 0.2%
Old Dominion Freight Line, Inc.*		368			12,288
Ryder System, Inc.		1,211			46,938
Werner Enterprises, Inc.		604			13,995
Total Road & Rail					73,221
Semiconductors & Semiconductor Equipment – 0.1%
Skyworks Solutions, Inc.*		1,879			29,312
Software – 0.1%
Compuware Corp.*		2,815			23,646
Quest Software, Inc.*		686			12,204
Total Software					35,850
Specialty Retail – 6.1%
Aaron’s, Inc.		378			12,603
Advance Auto Parts, Inc.(a)		750			31,440
AutoNation, Inc.*(a)		4,401			79,570

Investments		Shares		Value
Barnes & Noble, Inc.		618		$	13,361
Bed Bath & Beyond, Inc.*		2,406			105,287
Best Buy Co., Inc.		4,242			180,455
Buckle, Inc. (The)		418			15,366
Collective Brands, Inc.*		1,284			29,198
Foot Locker, Inc.		583			8,768
Gap, Inc. (The)		9,503			219,614
Home Depot, Inc.		18,652			603,392
Lowe’s Cos., Inc.		15,460			374,750
Men’s Wearhouse, Inc. (The)		467			11,180
O’Reilly Automotive, Inc.*		745			31,074
PetSmart, Inc.		1,187			37,937
RadioShack Corp.		2,827			63,975
Rent-A-Center, Inc.*		894			21,143
Ross Stores, Inc.		1,064			56,892
Sherwin-Williams Co. (The)		1,312			88,796
Staples, Inc.		6,847			160,151
Tractor Supply Co.		303			17,589
Total Specialty Retail					2,162,541
Textiles, Apparel & Luxury Goods – 0.9%
Carter’s, Inc.*		574			17,306
Fossil, Inc.*		1,125			42,458
Phillips-Van Heusen Corp.		499			28,623
Polo Ralph Lauren Corp.(a)		1,453			123,563
VF Corp.		1,469			117,740
Total Textiles, Apparel & Luxury Goods					329,690
Tobacco – 0.1%
Universal Corp.		519			27,346
Trading Companies & Distributors – 0.5%
Applied Industrial Technologies, Inc.		680			16,898
Beacon Roofing Supply, Inc.*		570			10,904
W.W. Grainger, Inc.		872			94,281
Watsco, Inc.		213			12,115
WESCO International, Inc.*		1,493			51,822
Total Trading Companies & Distributors					186,020
Wireless Telecommunication Services – 0.3%
Syniverse Holdings, Inc.*		633			12,325
Telephone & Data Systems, Inc.		2,444			82,729
Total Wireless Telecommunication Services					95,054
TOTAL COMMON STOCKS (Cost: $29,990,284)					34,992,902
SHORT-TERM INVESTMENT – 0.8%
MONEY MARKET FUND – 0.8%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $269,842)		269,842			269,842

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		53

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Table of Contents

Schedule of Investments (concluded)

WisdomTree LargeCap Value Fund (EZY)

March 31, 2010

  

 

 

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.9%
MONEY MARKET FUND – 1.9%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $683,006)(d)		683,006		$	683,006
TOTAL INVESTMENTS IN SECURITIES – 102.2% (Cost: $30,943,132)					35,945,750
Liabilities in Excess of Cash and Other Assets – (2.2)%					(781,637	)
NET ASSETS – 100.0%				$	35,164,113

 

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $665,452 and the total market value of the collateral held by the Fund was $683,006.

 

 

See Notes to Financial Statements.

 

54		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments

WisdomTree LargeCap Growth Fund (ROI)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.9%
Aerospace & Defense – 0.5%
ITT Corp.		1,747		$	93,657
TransDigm Group, Inc.		449			23,815
Total Aerospace & Defense					117,472
Air Freight & Logistics – 0.1%
C.H. Robinson Worldwide, Inc.		597			33,342
Airlines – 0.0%
Allegiant Travel Co.*		55			3,182
Beverages – 0.1%
Hansen Natural Corp.*		241			10,455
Biotechnology – 4.4%
Amgen, Inc.*		8,159			487,583
Biogen Idec, Inc.*		1,318			75,601
Celgene Corp.*		1,142			70,758
Cephalon, Inc.*		510			34,568
Cubist Pharmaceuticals, Inc.*		789			17,784
Genzyme Corp.*		761			39,443
Gilead Sciences, Inc.*		3,759			170,959
OSI Pharmaceuticals, Inc.*		1,155			68,780
United Therapeutics Corp.*		294			16,267
Total Biotechnology					981,743
Capital Markets – 0.1%
Knight Capital Group, Inc. Class A*		657			10,020
Stifel Financial Corp.*		87			4,676
Total Capital Markets					14,696
Chemicals – 3.4%
Calgon Carbon Corp.*		118			2,020
CF Industries Holdings, Inc.		891			81,241
FMC Corp.		683			41,349
Monsanto Co.		2,262			161,552
Mosaic Co. (The)		6,039			366,990
Olin Corp.		825			16,187
OM Group, Inc.*		510			17,279
Terra Industries, Inc.		1,850			84,656
Total Chemicals					771,274
Commercial Banks – 0.1%
First Financial Bankshares, Inc.		88			4,536
Signature Bank*		126			4,668
UMB Financial Corp.		165			6,700
WesBanco, Inc.		66			1,073
Total Commercial Banks					16,977
Commercial Services & Supplies – 0.2%
ABM Industries, Inc.		307			6,508
Copart, Inc.*		406			14,455
Rollins, Inc.		321			6,959
Stericycle, Inc.*		254			13,843
Tetra Tech, Inc.*		235			5,414
Total Commercial Services & Supplies					47,179

Investments		Shares		Value
Communications Equipment – 1.9%
Arris Group, Inc.*		761		$	9,140
Brocade Communications Systems, Inc.*		4,693			26,797
CommScope, Inc.*		1,104			30,934
F5 Networks, Inc.*		258			15,870
Harmonic, Inc.*		879			5,546
InterDigital, Inc.*		49			1,365
Juniper Networks, Inc.*		2,414			74,062
Polycom, Inc.*		475			14,526
QUALCOMM, Inc.		5,441			228,467
Riverbed Technology, Inc.*		116			3,294
Tekelec*		339			6,156
Total Communications Equipment					416,157
Computers & Peripherals – 4.8%
Apple, Inc.*		3,208			753,655
EMC Corp.*		10,640			191,946
QLogic Corp.*		832			16,890
Synaptics, Inc.*		95			2,623
Western Digital Corp.*		2,994			116,736
Total Computers & Peripherals					1,081,850
Construction & Engineering – 0.9%
Aecom Technology Corp.*		632			17,930
EMCOR Group, Inc.*		845			20,812
Fluor Corp.		1,319			61,346
Insituform Technologies, Inc. Class A*		274			7,291
Jacobs Engineering Group, Inc.*		777			35,112
KBR, Inc.		1,551			34,370
MasTec, Inc.*		819			10,328
URS Corp.*		414			20,539
Total Construction & Engineering					207,728
Containers & Packaging – 0.1%
Rock-Tenn Co. Class A		381			17,362
Silgan Holdings, Inc.		233			14,034
Total Containers & Packaging					31,396
Distributors – 0.0%
LKQ Corp.*		543			11,023
Diversified Consumer Services – 0.6%
American Public Education, Inc.*		34			1,584
Apollo Group, Inc. Class A*		633			38,797
Capella Education Co.*		47			4,363
Career Education Corp.*		286			9,049
Coinstar, Inc.*		43			1,398
Corinthian Colleges, Inc.*		181			3,184
DeVry, Inc.		250			16,300
H&R Block, Inc.		2,149			38,252
ITT Educational Services, Inc.*		155			17,434
Strayer Education, Inc.		36			8,767
Total Diversified Consumer Services					139,128
Diversified Financial Services – 0.2%
IntercontinentalExchange, Inc.*		301			33,766

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		55

---

Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Growth Fund (ROI)

March 31, 2010

  

 

 

Investments		Shares		Value
Electric Utilities – 0.1%
ITC Holdings Corp.		208		$	11,440
Unisource Energy Corp.		77			2,421
Total Electric Utilities					13,861
Electrical Equipment – 0.4%
AMETEK, Inc.		663			27,488
GrafTech International Ltd.*		2,425			33,150
Regal-Beloit Corp.		363			21,566
Total Electrical Equipment					82,204
Electronic Equipment, Instruments & Components – 0.4%
Amphenol Corp. Class A		1,136			47,928
Dolby Laboratories, Inc. Class A*		476			27,927
FLIR Systems, Inc.*		769			21,686
Total Electronic Equipment, Instruments & Components					97,541
Energy Equipment & Services – 1.6%
Atwood Oceanics, Inc.*		1,478			51,183
Diamond Offshore Drilling, Inc.		1,315			116,786
Dresser-Rand Group, Inc.*		1,173			36,856
Oil States International, Inc.*		1,769			80,206
SEACOR Holdings, Inc.*		295			23,795
Tidewater, Inc.		1,124			53,131
Total Energy Equipment & Services					361,957
Food & Staples Retailing – 5.9%
BJ’s Wholesale Club, Inc.*		358			13,242
Casey’s General Stores, Inc.		256			8,038
Kroger Co. (The)		4,955			107,325
United Natural Foods, Inc.*		217			6,104
Wal-Mart Stores, Inc.		21,346			1,186,839
Total Food & Staples Retailing					1,321,548
Food Products – 1.3%
American Italian Pasta Co. Class A*		122			4,742
Archer-Daniels-Midland Co.		8,148			235,477
Flowers Foods, Inc.		418			10,341
Green Mountain Coffee Roasters, Inc.*		40			3,873
J.M. Smucker Co. (The)		541			32,601
Lancaster Colony Corp.		116			6,839
Lance, Inc.		75			1,735
TreeHouse Foods, Inc.*		130			5,703
Total Food Products					301,311
Gas Utilities – 0.9%
Atmos Energy Corp.		643			18,371
Laclede Group, Inc. (The)		154			5,193
National Fuel Gas Co.		857			43,321
New Jersey Resources Corp.		245			9,202
Nicor, Inc.		301			12,618
Piedmont Natural Gas Co., Inc.		352			9,708
Questar Corp.		1,769			76,420
UGI Corp.		756			20,064
Total Gas Utilities					194,897

Investments		Shares		Value
Health Care Equipment & Supplies – 2.1%
Baxter International, Inc.		3,428		$	199,509
C.R. Bard, Inc.		526			45,562
Edwards Lifesciences Corp.*		211			20,864
Gen-Probe, Inc.*		165			8,250
Haemonetics Corp.*		103			5,886
Immucor, Inc.*		275			6,157
Intuitive Surgical, Inc.*		129			44,909
Masimo Corp.		94			2,496
ResMed, Inc.*		268			17,058
St. Jude Medical, Inc.*		1,896			77,831
STERIS Corp.		407			13,700
Teleflex, Inc.		329			21,079
Thoratec Corp.*		69			2,308
Total Health Care Equipment & Supplies					465,609
Health Care Providers & Services – 2.0%
Amedisys, Inc.*		247			13,639
AMERIGROUP Corp.*		542			18,016
AmerisourceBergen Corp.		2,347			67,876
Catalyst Health Solutions, Inc.*		204			8,442
Centene Corp.*		353			8,486
Chemed Corp.		142			7,722
Community Health Systems, Inc.*		948			35,010
DaVita, Inc.*		716			45,394
HMS Holdings Corp.*		57			2,906
Magellan Health Services, Inc.*		215			9,348
Medco Health Solutions, Inc.*		2,058			132,865
Omnicare, Inc.		894			25,291
PSS World Medical, Inc.*		363			8,534
Quest Diagnostics, Inc.		1,078			62,837
VCA Antech, Inc.*		480			13,454
Total Health Care Providers & Services					459,820
Health Care Technology – 0.2%
Cerner Corp.*		388			33,003
Quality Systems, Inc.		75			4,608
Total Health Care Technology					37,611
Hotels, Restaurants & Leisure – 2.1%
Bally Technologies, Inc.*		407			16,500
Bob Evans Farms, Inc.		216			6,677
Buffalo Wild Wings, Inc.*		53			2,550
Darden Restaurants, Inc.		819			36,478
McDonald’s Corp.		5,981			399,052
Panera Bread Co. Class A*		101			7,725
Vail Resorts, Inc.*		287			11,506
Total Hotels, Restaurants & Leisure					480,488
Household Products – 0.1%
Church & Dwight Co., Inc.		332			22,227
Insurance – 0.4%
AON Corp.		1,887			80,593
Brown & Brown, Inc.		716			12,831
Total Insurance					93,424

 

See Notes to Financial Statements.

 

56		WisdomTree Domestic and International Earnings Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree LargeCap Growth Fund (ROI)

March 31, 2010

  

 

 

Investments		Shares		Value
Internet & Catalog Retail – 0.6%
Amazon.com, Inc.*		608		$	82,524
NetFlix, Inc.*		152			11,208
priceline.com, Inc.*		174			44,370
Total Internet & Catalog Retail					138,102
Internet Software & Services – 2.6%
Akamai Technologies, Inc.*		596			18,720
Digital River, Inc.*		153			4,636
Earthlink, Inc.		3,239			27,661
Google, Inc. Class A*		898			509,175
j2 Global Communications, Inc.*		242			5,663
VeriSign, Inc.*		819			21,302
Total Internet Software & Services					587,157
IT Services – 4.3%
Alliance Data Systems Corp.*		463			29,627
Broadridge Financial Solutions, Inc.		812			17,361
CACI International, Inc. Class A*		199			9,721
Cognizant Technology Solutions Corp. Class A*		1,521			77,541
Computer Sciences Corp.*		2,078			113,230
Cybersource Corp.*		61			1,076
Fidelity National Information Services, Inc.		1,607			37,668
Fiserv, Inc.*		917			46,547
Global Payments, Inc.		467			21,272
Mantech International Corp. Class A*		181			8,838
Mastercard, Inc. Class A		1,074			272,796
MAXIMUS, Inc.		152			9,261
Visa, Inc. Class A		3,621			329,620
Total IT Services					974,558
Life Sciences Tools & Services – 0.1%
Bio-Rad Laboratories, Inc. Class A*		142			14,699
Illumina, Inc.*		174			6,769
Total Life Sciences Tools & Services					21,468
Machinery – 0.7%
Bucyrus International, Inc.		1,048			69,158
Flowserve Corp.		601			66,272
Middleby Corp.*		210			12,094
Valmont Industries, Inc.		223			18,471
Total Machinery					165,995
Media – 2.2%
Comcast Corp. Class A		17,273			325,079
DIRECTV Class A*		4,965			167,867
Total Media					492,946
Metals & Mining – 2.0%
Newmont Mining Corp.		1,774			90,350
Nucor Corp.		3,549			161,053
Schnitzer Steel Industries, Inc. Class A		358			18,806
Steel Dynamics, Inc.		3,166			55,310
Walter Energy, Inc.		1,352			124,749
Total Metals & Mining					450,268

Investments		Shares		Value
Multiline Retail – 0.3%
Big Lots, Inc.*		493		$	17,955
Dollar Tree, Inc.*		444			26,293
Family Dollar Stores, Inc.		606			22,186
Total Multiline Retail					66,434
Multi-Utilities – 0.8%
Black Hills Corp.		171			5,190
CH Energy Group, Inc.		65			2,655
NorthWestern Corp.		260			6,971
NSTAR		624			22,102
PG&E Corp.		2,554			108,340
SCANA Corp.		925			34,771
Total Multi-Utilities					180,029
Oil, Gas & Consumable Fuels – 37.7%
Alpha Natural Resources, Inc.*		1,062			52,983
Anadarko Petroleum Corp.		6,506			473,832
Arena Resources, Inc.*		833			27,822
Bill Barrett Corp.*		939			28,837
Chevron Corp.		28,236			2,141,135
CNX Gas Corp.*		1,391			52,928
Comstock Resources, Inc.*		446			14,183
Concho Resources, Inc.*		857			43,159
Continental Resources, Inc.*		1,556			66,208
Denbury Resources, Inc.*		6,273			105,826
EOG Resources, Inc.		3,514			326,591
Exxon Mobil Corp.		48,008			3,215,575
Hess Corp.		3,833			239,754
Massey Energy Co.		2,299			120,215
Murphy Oil Corp.		3,287			184,697
Noble Energy, Inc.		2,098			153,154
NuStar GP Holdings LLC		914			27,082
Occidental Petroleum Corp.		9,789			827,561
Peabody Energy Corp.		3,590			164,063
Range Resources Corp.		1,056			49,495
Southwestern Energy Co.*		1,701			69,265
Whiting Petroleum Corp.*		842			68,067
World Fuel Services Corp.		1,188			31,648
Total Oil, Gas & Consumable Fuels					8,484,080
Pharmaceuticals – 4.8%
Abbott Laboratories		9,948			524,061
Allergan, Inc.		1,149			75,053
Bristol-Myers Squibb Co.		9,926			265,024
Endo Pharmaceuticals Holdings, Inc.*		1,191			28,215
Medicines Co. (The)*		92			721
Mylan, Inc.*		1,848			41,968
Perrigo Co.		522			30,652
Valeant Pharmaceuticals International*		204			8,754
Watson Pharmaceuticals, Inc.*		2,333			97,449
Total Pharmaceuticals					1,071,897
Professional Services – 0.0%
CoStar Group, Inc.*		61			2,533

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		57

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Table of Contents

Schedule of Investments (concluded)

WisdomTree LargeCap Growth Fund (ROI)

March 31, 2010

  

 

 

Investments		Shares		Value
Real Estate Investment Trusts (REITs) – 0.4%
Corporate Office Properties Trust SBI MD		81		$	3,251
Digital Realty Trust, Inc.		66			3,577
Investors Real Estate Trust		70			631
Public Storage		905			83,251
Total Real Estate Investment Trusts (REITs)					90,710
Road & Rail – 0.1%
Heartland Express, Inc.		350			5,775
Knight Transportation, Inc.		288			6,074
Total Road & Rail					11,849
Semiconductors & Semiconductor Equipment – 0.7%
Altera Corp.		1,655			40,233
Broadcom Corp. Class A		1,567			51,993
Cree, Inc.*		90			6,320
Hittite Microwave Corp.*		129			5,672
ON Semiconductor Corp.*		3,203			25,624
Semtech Corp.*		228			3,974
Silicon Laboratories, Inc.*		138			6,578
Skyworks Solutions, Inc.*		1,093			17,051
Total Semiconductors & Semiconductor Equipment					157,445
Software – 4.4%
ACI Worldwide, Inc.*		141			2,906
Ansys, Inc.*		347			14,970
AsiaInfo Holdings, Inc.*		90			2,383
BMC Software, Inc.*		826			31,388
Compuware Corp.*		1,614			13,558
Concur Technologies, Inc.*		66			2,707
EPIQ Systems, Inc.*		82			1,019
FactSet Research Systems, Inc.		230			16,875
Intuit, Inc.*		1,372			47,114
McAfee, Inc.*		470			18,861
Oracle Corp.		25,676			659,617
Quest Software, Inc.*		439			7,810
Red Hat, Inc.*		337			9,864
Rovi Corp.*		65			2,413
Salesforce.com, Inc.*		93			6,924
Solera Holdings, Inc.		117			4,522
Sybase, Inc.*		386			17,995
Symantec Corp.*		3,749			63,433
Synopsys, Inc.*		789			17,650
TIBCO Software, Inc.*		656			7,078
VMware, Inc. Class A*		799			42,587
Total Software					991,674
Specialty Retail – 1.4%
Aaron’s, Inc.		212			7,068
Advance Auto Parts, Inc.		453			18,990
Aeropostale, Inc.*		588			16,952
AutoZone, Inc.*		323			55,908
Best Buy Co., Inc.		2,565			109,116
Buckle, Inc. (The)		244			8,969
Gymboree Corp.*		267			13,785

Investments		Shares		Value
O’Reilly Automotive, Inc.*		442		$	18,436
PetSmart, Inc.		674			21,541
Ross Stores, Inc.		645			34,488
Tractor Supply Co.		166			9,636
Total Specialty Retail					314,889
Textiles, Apparel & Luxury Goods – 0.2%
Carter’s, Inc.*		316			9,527
Deckers Outdoor Corp.*		138			19,044
Lululemon Athletica, Inc.*		256			10,624
Total Textiles, Apparel & Luxury Goods					39,195
Thrifts & Mortgage Finance – 0.3%
Capitol Federal Financial		126			4,720
Hudson City Bancorp, Inc.		2,874			40,696
NewAlliance Bancshares, Inc.		297			3,748
People’s United Financial, Inc.		951			14,874
Total Thrifts & Mortgage Finance					64,038
Trading Companies & Distributors – 0.3%
Beacon Roofing Supply, Inc.*		541			10,349
W.W. Grainger, Inc.		507			54,817
Total Trading Companies & Distributors					65,166
Water Utilities – 0.1%
American States Water Co.		70			2,429
Aqua America, Inc.		418			7,344
California Water Service Group		88			3,310
Total Water Utilities					13,083
Wireless Telecommunication Services – 0.0%
Syniverse Holdings, Inc.*		435			8,469
TOTAL INVESTMENTS IN SECURITIES – 98.9% (Cost: $17,961,874)					22,241,851
Cash and Other Assets in Excess of Liabilities – 1.1%					242,713
NET ASSETS – 100.0%				$	22,484,564

 

*	Non-income producing security.

 

See Notes to Financial Statements.

 

58		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (consolidated)

WisdomTree India Earnings Fund (EPI)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.9%
Aerospace & Defense – 0.5%
Bharat Electronics Ltd.		91,053		$	4,466,860
Auto Components – 0.4%
Amtek Auto Ltd.		819,356			3,549,721
Automobiles – 2.8%
Bajaj Auto Ltd.		53,618			2,406,271
Hero Honda Motors Ltd.		171,316			7,419,687
Mahindra & Mahindra Ltd.		894,940			10,791,308
Maruti Suzuki India Ltd.		96,083			3,034,656
Total Automobiles					23,651,922
Beverages – 0.4%
United Spirits Ltd.		113,304			3,334,890
Building Products – 0.5%
Sintex Industries Ltd.		588,372			3,872,679
Chemicals – 1.0%
Asian Paints Ltd.		47,680			2,165,327
Gujarat Narmada Valley Fertilizers Co., Ltd.		165,219			413,646
Tata Chemicals Ltd.		371,363			2,714,395
United Phosphorus Ltd.		789,867			2,624,973
Total Chemicals					7,918,341
Commercial Banks – 14.5%
Allahabad Bank		756,690			2,407,688
Andhra Bank		666,852			1,607,159
Axis Bank Ltd.		519,428			13,516,466
Bank of India		711,380			5,391,403
Canara Bank		685,988			6,267,787
Central Bank of India		550,825			1,798,049
Corp. Bank		227,494			2,435,065
Federal Bank Ltd.		497,798			2,958,846
HDFC Bank Ltd.		382,258			16,462,765
ICICI Bank Ltd.		1,112,553			23,604,115
IDBI Bank Ltd.		776,064			1,987,913
Indian Bank		821,714			3,210,349
Indian Overseas Bank		1,356,689			2,778,651
Karnataka Bank Ltd.		542,223			1,449,310
Oriental Bank of Commerce		423,131			3,024,922
State Bank of India Ltd.		575,358			26,633,457
Syndicate Bank		1,092,432			2,096,292
Uco Bank		1,285,907			1,618,304
Yes Bank Ltd.*		458,805			2,618,239
Total Commercial Banks					121,866,780
Construction & Engineering – 2.2%
IVRCL Infrastructures & Projects Ltd.		758,452			2,804,389
Larsen & Toubro Ltd.		315,314			11,454,056
Nagarjuna Construction Co.		620,181			2,246,852
Voltas Ltd.		409,657			1,610,067
Total Construction & Engineering					18,115,364
Construction Materials – 2.9%
ACC Ltd.		197,959			4,193,538
Ambuja Cements Ltd.		3,092,780			8,256,369

Investments		Shares		Value
Anant Raj Industries Ltd.		267,287		$	792,127
India Cements Ltd.		869,743			2,552,370
Madras Cements Ltd.		551,554			1,495,750
Shree Cement Ltd.		50,267			2,644,462
Ultratech Cement Ltd.		186,154			4,788,505
Total Construction Materials					24,723,121
Diversified Financial Services – 2.6%
Infrastructure Development Finance Co., Ltd.		2,127,779			7,628,155
Kotak Mahindra Bank Ltd.		164,802			2,746,333
Power Finance Corp., Ltd.		536,337			3,086,372
Reliance Capital Ltd.		294,456			4,958,758
Rural Electrification Corp., Ltd.		679,706			3,794,817
Total Diversified Financial Services					22,214,435
Diversified Telecommunication Services – 0.1%
Tulip Telecom Ltd.		51,880			971,674
Electric Utilities – 2.1%
Power Grid Corp. of India Ltd.		1,365,521			3,259,062
Reliance Infrastructure Ltd.		312,115			6,945,506
Tata Power Co., Ltd.		195,495			5,981,550
Torrent Power Ltd.		257,597			1,657,354
Total Electric Utilities					17,843,472
Electrical Equipment – 1.8%
ABB Ltd.		133,846			2,474,489
Bharat Heavy Electricals Ltd.		186,878			9,951,217
Crompton Greaves Ltd.		503,239			2,925,052
Total Electrical Equipment					15,350,758
Energy Equipment & Services – 0.3%
Aban Offshore Ltd.		50,966			1,319,757
Great Offshore Ltd.		141,716			1,291,843
Total Energy Equipment & Services					2,611,600
Food Products – 0.7%
Nestle India Ltd.		35,986			2,145,093
Tata Tea Ltd.		161,857			3,528,983
Total Food Products					5,674,076
Gas Utilities – 1.2%
GAIL India Ltd.		1,055,516			9,653,522
Health Care Equipment & Supplies – 0.1%
Opto Circuits India Ltd.		234,664			1,136,078
Household Durables – 0.4%
Videocon Industries Ltd.		690,656			3,501,354
Household Products – 1.7%
Hindustan Unilever Ltd.		2,695,699			14,383,666
Independent Power Producers & Energy Traders – 1.3%
NTPC Ltd.		2,295,083			10,594,854
Industrial Conglomerates – 0.7%
Jaiprakash Associates Ltd.		740,068			2,465,245
Siemens India Ltd.		189,603			3,125,842
Total Industrial Conglomerates					5,591,087

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		59

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Table of Contents

Schedule of Investments (consolidated) (continued)

WisdomTree India Earnings Fund (EPI)

March 31, 2010

  

 

 

Investments		Shares		Value
IT Services – 13.7%
HCL Technologies Ltd.		573,126		$	4,575,306
Infosys Technologies Ltd.		1,170,864			68,224,117
Mphasis Ltd.		94,805			1,310,207
Patni Computer Systems Ltd.		312,654			3,722,668
Rolta India Ltd.		617,314			2,460,593
Tata Consultancy Services Ltd.		1,185,687			20,617,141
Tech Mahindra Ltd.*		116,038			2,204,968
Wipro Ltd.		786,043			12,377,617
Total IT Services					115,492,617
Life Sciences Tools & Services – 0.3%
Divi’s Laboratories Ltd.		166,635			2,517,619
Machinery – 0.8%
Ashok Leyland Ltd.		1,774,883			2,206,002
Cummins India Ltd.		226,758			2,592,603
Thermax Ltd.		120,689			1,833,252
Total Machinery					6,631,857
Marine – 0.7%
Mercator Lines Ltd.		2,439,140			3,023,458
Shipping Corp. of India Ltd.		800,065			2,775,590
Total Marine					5,799,048
Media – 0.7%
Sun TV Network Ltd.		178,822			1,704,774
Zee Entertainment Enterprises Ltd.		703,582			4,203,939
Total Media					5,908,713
Metals & Mining – 11.6%
Bhushan Steel Ltd.		47,773			1,787,431
Hindalco Industries Ltd.		604,738			2,441,447
Hindustan Zinc Ltd.		102,462			2,748,638
Jindal Saw Ltd.		373,360			1,766,381
Jindal Steel & Power Ltd.		1,032,989			16,177,627
JSW Steel Ltd.		104,259			2,867,558
Maharashtra Seamless Ltd.		167,461			1,323,052
National Aluminium Co., Ltd.		261,239			2,370,906
Sesa Goa Ltd.		1,772,221			18,570,917
Steel Authority of India Ltd.		2,839,714			15,974,380
Sterlite Industries India Ltd.		620,142			11,740,499
Tata Steel Ltd.		1,308,890			18,427,084
Welspun-Gujarat Stahl Ltd.		255,489			1,554,730
Total Metals & Mining					97,750,650
Oil, Gas & Consumable Fuels – 19.2%
Bharat Petroleum Corp., Ltd.		137,370			1,585,133
Great Eastern Shipping Co., Ltd. (The)		701,773			4,598,766
Hindustan Petroleum Corp., Ltd.		237,250			1,683,394
Indian Oil Corp., Ltd.		872,406			5,747,056
Mangalore Refinery & Petrochemicals Ltd.		882,635			1,498,091
Oil & Natural Gas Corp., Ltd.		2,178,012			53,301,744
Petronet Lng Ltd.		953,163			1,614,613
Reliance Industries Ltd.		3,826,833			91,568,669
Total Oil, Gas & Consumable Fuels					161,597,466

Investments		Shares		Value
Personal Products – 0.3%
Dabur India Ltd.		672,721		$	2,379,510
Pharmaceuticals – 3.0%
Cipla Ltd.		643,315			4,848,327
GlaxoSmithKline Pharmaceuticals Ltd.		54,873			2,173,164
Glenmark Pharmaceuticals Ltd.		246,736			1,475,909
Lupin Ltd.		67,974			2,463,916
Piramal Healthcare Ltd.		275,283			2,604,443
Sun Pharmaceutical Industries Ltd.		295,859			11,809,317
Total Pharmaceuticals					25,375,076
Real Estate Management & Development – 1.0%
DLF Ltd.		729,916			5,022,186
Housing Development & Infrastructure Ltd.*		576,992			3,680,180
Total Real Estate Management & Development					8,702,366
Road & Rail – 0.3%
Container Corp. of India		93,087			2,732,895
Software – 0.6%
Financial Technologies India Ltd.		53,946			1,884,836
Geodesic Ltd.		281,972			703,438
Oracle Financial Sevices Software Ltd.*		48,063			2,462,352
Total Software					5,050,626
Textiles, Apparel & Luxury Goods – 0.2%
Alok Industries Ltd.		3,280,902			1,622,364
Thrifts & Mortgage Finance – 3.0%
Housing Development Finance Corp.		354,925			21,481,283
Lic Housing Finance Ltd.		205,867			3,996,512
Total Thrifts & Mortgage Finance					25,477,795
Tobacco – 1.4%
ITC Ltd.		1,930,681			11,312,298
Trading Companies & Distributors – 0.3%
Adani Enterprises Ltd.		248,771			2,602,689
Wireless Telecommunication Services – 4.6%
Bharti Airtel Ltd.		3,333,230			23,205,280
Idea Cellular Ltd.*		1,775,939			2,591,024
Reliance Communications Ltd.		3,473,724			13,149,780
Total Wireless Telecommunication Services					38,946,084
TOTAL COMMON STOCKS (Cost: $687,335,656)					840,925,927
RIGHTS – 0.0%
Household Durables – 0.0%
Videocon Industries Ltd., expiring 12/31/10*		153,479			8,888

 

See Notes to Financial Statements.

 

60		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Schedule of Investments (consolidated) (concluded)

WisdomTree India Earnings Fund (EPI)

March 31, 2010

  

 

 

Investments		Shares		Value
Trading Companies & Distributors – 0.0%
Adani Enterprises Ltd., expiring 4/15/10*		15,548		$	—
TOTAL RIGHTS (Cost: $0)					8,888
TOTAL INVESTMENTS IN SECURITIES – 99.9% (Cost: $687,335,656)					840,934,815
Foreign Currency and Other Assets in Excess of Liabilities – 0.1%					597,943
NET ASSETS – 100.0%				$	841,532,758

 

*	Non-income producing security.

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		61

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Table of Contents

Statements of Assets and Liabilities

WisdomTree Domestic and International Earnings Funds

March 31, 2010

  

 

 

		WisdomTree Total Earnings Fund				WisdomTree Earnings 500 Fund				WisdomTree MidCap Earnings Fund				WisdomTree SmallCap Earnings Fund				WisdomTree LargeCap Value  Fund1				WisdomTree LargeCap Growth Fund				WisdomTree India Earnings Fund (consolidated)
ASSETS:
Investments, at cost		$	49,771,991			$	80,942,293			$	58,044,162			$	110,878,513			$	30,943,132			$	17,961,874			$	687,335,656
Foreign currency, at cost			—				—				—				—				—				—				1,625,051
Investments in securities, at value (including securities on loan)2			49,394,640				79,162,462				62,994,156				116,373,261				35,945,750				22,241,851				840,934,815
Cash			—				—				—				—				192				291,193				—
Foreign currency, at value			—				—				—				—				—				—				1,627,391
Receivables:
Dividends and interest			74,561				101,717				71,938				125,987				34,722				20,047				—
Total Assets			49,469,201				79,264,179				63,066,094				116,499,248				35,980,664				22,553,091				842,562,206
LIABILITIES:
Due to custodian			371				297				—				130				—				—				307,888
Payables:
Collateral for securities on loan (Note 2)			1,285,010				1,505,012				8,081,065				20,957,169				683,006				—				—
Investment securities purchased			172,174				71,006				501,810				—				—				—				—
Advisory fees (Note 3)			11,854				15,710				17,319				29,813				10,343				7,162				457,943
Service fees (Note 2)			186				247				201				345				120				83				137,652
Dividends and interest			—				—				—				—				—				—				125,965
Distribution			210,623				249,641				159,999				205,669				123,082				61,282				—
Total Liabilities			1,680,218				1,841,913				8,760,394				21,193,126				816,551				68,527				1,029,448
NET ASSETS		$	47,788,983			$	77,422,266			$	54,305,700			$	95,306,122			$	35,164,113			$	22,484,564			$	841,532,758
NET ASSETS:
Paid-in capital		$	53,783,742			$	96,401,749			$	59,128,747			$	98,457,182			$	42,676,405			$	18,238,292			$	754,185,806
Undistributed net investment income			23,247				37,252				26,152				45,160				13,902				7,197				447,862
Accumulated net realized loss on investments and foreign currency related transactions			(5,640,655	)			(17,236,904	)			(9,799,193	)			(8,690,968	)			(12,528,812	)			(40,902	)			(66,695,508	)
Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			(377,351	)			(1,779,831	)			4,949,994				5,494,748				5,002,618				4,279,977				153,594,598
NET ASSETS		$	47,788,983			$	77,422,266			$	54,305,700			$	95,306,122			$	35,164,113			$	22,484,564			$	841,532,758
Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)			1,150,000				1,900,000				1,150,000				2,150,000				950,000				650,000				36,200,000
Net asset value per share		$	41.56			$	40.75			$	47.22			$	44.33			$	37.01			$	34.59			$	23.25

 

1	This information reflects the investment objective and strategy of the WisdomTree Low P/E Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree LargeCap Value Fund thereafter.

 

2	Market values for securities on loan were as follows: $1,251,514, $1,466,932, $7,849,179, $20,085,665, $665,452, $0 and $0, respectively (Note 2).

 

See Notes to Financial Statements.

 

62		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Statements of Operations

WisdomTree Domestic and International Earnings Funds

For the Year Ended March 31, 2010

  

 

 

		WisdomTree Total Earnings Fund				WisdomTree Earnings 500 Fund				WisdomTree MidCap Earnings Fund				WisdomTree SmallCap Earnings Fund				WisdomTree LargeCap Value Fund1				WisdomTree LargeCap Growth Fund			WisdomTree India Earnings Fund (consolidated)
INVESTMENT INCOME:
Dividends2		$	635,941			$	1,229,331			$	555,470			$	637,769			$	657,835			$	354,731		$	5,618,814
Interest			35				62				36				57				28				—			—
Securities lending income (Note 2)			3,468				4,409				15,725				58,437				6,531				365			7
Total investment income			639,444				1,233,802				571,231				696,263				664,394				355,096			5,618,821
EXPENSES:
Advisory Fees (Note 3)			81,325				154,906				112,649				196,027				105,648				70,504			3,568,427
Service Fees (Note 2)			1,278				2,434				1,305				2,270				1,223				816			41,333
Custody/Accounting			—				—				—				—				—				—			741,253
Printing			—				—				—				—				—				—			89,089
IOPV Fees3			—				—				—				—				—				—			47,065
Professional Fees			—				—				—				—				—				—			36,202
Directors			—				—				—				—				—				—			6,951
Insurance			—				—				—				—				—				—			4,187
Other			—				—				—				—				—				—			103,931
Total expenses			82,603				157,340				113,954				198,297				106,871				71,320			4,638,438
Net investment income			556,841				1,076,462				457,277				497,966				557,523				283,776			980,383
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions			(1,556,338	)			(5,212,516	)			(1,427,867	)			(2,180,652	)			(1,566,313	)			467,710			(6,235,913	)
In-kind redemptions			3,403,012				(507,857	)			3,614,866				12,700,181				—				—			—
Foreign currency related transactions			—				—				—				—				—				—			(755,586	)
Net realized gain (loss)			1,846,674				(5,720,373	)			2,186,999				10,519,529				(1,566,313	)			467,710			(6,991,499	)
Net change in unrealized appreciation (depreciation) from:
Investment transactions			8,422,771				26,170,480				12,621,976				11,702,550				12,402,272				4,358,046			265,281,753
Translation of assets and liabilities denominated in foreign currencies			—				—				—				—				—				—			(20,543	)
Net change in unrealized appreciation (depreciation)			8,422,771				26,170,480				12,621,976				11,702,550				12,402,272				4,358,046			265,261,210
Net realized and unrealized gain on investments			10,269,445				20,450,107				14,808,975				22,222,079				10,835,959				4,825,756			258,269,711
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$	10,826,286			$	21,526,569			$	15,266,252			$	22,720,045			$	11,393,482			$	5,109,532		$	259,250,094

 

1	This information reflects the investment objective and strategy of the WisdomTree Low P/E Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree LargeCap Value Fund thereafter.

 

2	Net of foreign withholding tax of $0, $0, $8, $0, $0, $0 and $173,788, respectively.

 

3	IOPV—Indicative Optimized Portfolio Value—is the real time estimation of net asset value of Fund.

 

See Notes to Financial Statements.

 

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Table of Contents

Statements of Changes in Net Assets

WisdomTree Domestic and International Earnings Funds

  

 

 

		WisdomTree Total Earnings Fund								WisdomTree Earnings 500 Fund								WisdomTree MidCap Earnings Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	556,841			$	463,823			$	1,076,462			$	1,635,575			$	457,277			$	345,120
Net realized gain (loss) on investments			1,846,674				(4,122,614	)			(5,720,373	)			(15,355,729	)			2,186,999				(8,305,330	)
Net change in unrealized appreciation (depreciation) on investments			8,422,771				(6,107,489	)			26,170,480				(21,261,215	)			12,621,976				(2,696,551	)
Net increase (decrease) in net assets resulting from operations			10,826,286				(9,766,280	)			21,526,569				(34,981,369	)			15,266,252				(10,656,761	)
DIVIDENDS:
Net investment income			(540,172	)			(459,975	)			(1,068,776	)			(1,621,994	)			(437,001	)			(345,011	)
Total dividends			(540,172	)			(459,975	)			(1,068,776	)			(1,621,994	)			(437,001	)			(345,011	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			44,987,988				10,876,508				22,083,885				51,903,655				44,315,521				9,527,012
Cost of shares redeemed			(23,996,614	)			(87	)			(24,833,003	)			(10,513,880	)			(19,245,249	)			(9,366,333	)
Net increase (decrease) in net assets resulting from capital share transactions			20,991,374				10,876,421				(2,749,118	)			41,389,775				25,070,272				160,679
Net Increase (Decrease) in Net Assets			31,277,488				650,166				17,708,675				4,786,412				39,899,523				(10,841,093	)
NET ASSETS:
Beginning of year		$	16,511,495			$	15,861,329			$	59,713,591			$	54,927,179			$	14,406,177			$	25,247,270
End of year		$	47,788,983			$	16,511,495			$	77,422,266			$	59,713,591			$	54,305,700			$	14,406,177
Undistributed net investment income included in net assets at end of year		$	23,247			$	8,240			$	37,252			$	29,566			$	26,152			$	5,222
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			600,000				350,002				2,150,000				1,200,002				550,000				600,002
Shares created			1,150,000				250,000				550,000				1,300,000				1,050,000				250,000
Shares redeemed			(600,000	)			(2	)			(800,000	)			(350,002	)			(450,000	)			(300,002	)
Shares outstanding, end of year			1,150,000				600,000				1,900,000				2,150,000				1,150,000				550,000

 

See Notes to Financial Statements.

 

64		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree Domestic and International Earnings Funds

  

 

 

		WisdomTree SmallCap Earnings Fund								WisdomTree LargeCap Value Fund								WisdomTree LargeCap Growth Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 20101				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Period December 4, 2008* through March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	497,966			$	248,299			$	557,523			$	617,984			$	283,776			$	22,365
Net realized gain (loss) on investments			10,519,529				(5,600,297	)			(1,566,313	)			(9,907,303	)			467,710				222,081
Net change in unrealized appreciation (depreciation) on investments			11,702,550				(2,855,403	)			12,402,272				(3,805,769	)			4,358,046				(78,069	)
Net increase (decrease) in net assets resulting from operations			22,720,045				(8,207,401	)			11,393,482				(13,095,088	)			5,109,532				166,377
DIVIDENDS AND DISTRIBUTIONS:
Net investment income			(411,568	)			(255,760	)			(551,890	)			(620,423	)			(278,334	)			(20,745	)
Capital gains			—				—				—				—				(492,811	)			—
Total dividends and distributions			(411,568	)			(255,760	)			(551,890	)			(620,423	)			(771,145	)			(20,745	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			112,678,960				14,663,798				3,715,635				15,738,329				9,010,172				14,314,630
Cost of shares redeemed			(53,628,954	)			(7,837,559	)			—				(5,356,254	)			(125	)			(5,324,232	)
Net increase in net assets resulting from capital share transactions			59,050,006				6,826,239				3,715,635				10,382,075				9,010,047				8,990,398
Net Increase (Decrease) in Net Assets			81,358,483				(1,636,922	)			14,557,227				(3,333,436	)			13,348,434				9,136,030
NET ASSETS:
Beginning of period		$	13,947,639			$	15,584,561			$	20,606,886			$	23,940,322			$	9,136,130			$	100
End of period		$	95,306,122			$	13,947,639			$	35,164,113			$	20,606,886			$	22,484,564			$	9,136,130
Undistributed net investment income included in net assets at end of period		$	45,160			$	7,113			$	13,902			$	7,570			$	7,197			$	1,763
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period			600,000				400,002				850,000				550,002				350,004				4
Shares created			2,850,000				450,000				100,000				450,000				300,000				550,000
Shares redeemed			(1,300,000	)			(250,002	)			—				(150,002	)			(4	)			(200,000	)
Shares outstanding, end of period			2,150,000				600,000				950,000				850,000				650,000				350,004

 

*	Commencement of investment operations.

 

1	This information reflects the investment objective and strategy of the WisdomTree Low P/E Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree LargeCap Value Fund thereafter.

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		65

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Table of Contents

Statements of Changes in Net Assets (concluded)

WisdomTree Domestic and International Earnings Funds

  

 

 

		WisdomTree India Earnings Fund (consolidated)
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	980,383			$	1,576,738
Net realized loss on investments			(6,991,499	)			(58,840,054	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			265,261,210				(101,061,368	)
Net increase (decrease) in net assets resulting from operations			259,250,094				(158,324,684	)
DIVIDENDS:
Net investment income			(1,343,522	)			(1,428,048	)
Total dividends			(1,343,522	)			(1,428,048	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			452,328,639				196,069,631
Cost of shares redeemed			(37,897,695	)			(29,661,633	)
Net increase in net assets resulting from capital share transactions			414,430,944				166,407,998
Net Increase in Net Assets			672,337,516				6,655,266
NET ASSETS:
Beginning of year		$	169,195,242			$	162,539,976
End of year		$	841,532,758			$	169,195,242
Undistributed (Distributions in excess) of net investment income included in net assets at end of year		$	447,862			$	(71,898	)
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			15,400,000				7,200,004
Shares created			22,600,000				10,600,000
Shares redeemed			(1,800,000	)			(2,400,004	)
Shares outstanding, end of year			36,200,000				15,400,000

 

See Notes to Financial Statements.

 

66		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Financial Highlights

WisdomTree Domestic and International Earnings Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Total Earnings Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period February 23,  2007* through March 31, 2007
Net asset value, beginning of period		$	27.52			$	45.32			$	48.99			$	49.97
Investment operations:
Net investment income1			0.70				0.87				0.85				0.11
Net realized and unrealized gain (loss)			14.03				(17.87	)			(3.56	)			(1.00	)
Total from investment operations			14.73				(17.00	)			(2.71	)			(0.89	)
Dividends to shareholders:
Net investment income			(0.69	)			(0.80	)			(0.96	)			(0.09	)
Total dividends to shareholders			(0.69	)			(0.80	)			(0.96	)			(0.09	)
Net asset value, end of period		$	41.56			$	27.52			$	45.32			$	48.99
TOTAL RETURN2			53.82	%			(37.86	)%			(5.69	)%			(1.79	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	47,789			$	16,511			$	15,861			$	24,497
Ratio to average net assets of:
Expenses, net of expense reimbursements			0.28	%			0.28	%			0.28	%			0.28	%3
Expenses, prior to expense reimbursements			0.28	%			0.28	%			0.28	%			0.35	%3
Net investment income			1.92	%			2.33	%			1.76	%			2.21	%3
Portfolio turnover rate4			16	%			23	%			11	%			1	%

 

WisdomTree Earnings 500 Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period February 23,  2007* through March 31, 2007
Net asset value, beginning of period		$	27.77			$	45.77			$	48.85			$	49.77
Investment operations:
Net investment income1			0.68				0.91				0.94				0.11
Net realized and unrealized gain (loss)			12.98				(18.07	)			(3.18	)			(0.94	)
Total from investment operations			13.66				(17.16	)			(2.24	)			(0.83	)
Dividends to shareholders:
Net investment income			(0.68	)			(0.84	)			(0.84	)			(0.09	)
Total dividends to shareholders			(0.68	)			(0.84	)			(0.84	)			(0.09	)
Net asset value, end of period		$	40.75			$	27.77			$	45.77			$	48.85
TOTAL RETURN2			49.49	%			(37.83	)%			(4.72	)%			(1.67	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	77,422			$	59,714			$	54,927			$	19,538
Ratio to average net assets of:
Expenses, net of expense reimbursements			0.28	%			0.28	%			0.28	%			0.28	%3
Expenses, prior to expense reimbursements			0.28	%			0.28	%			0.28	%			0.37	%3
Net investment income			1.95	%			2.49	%			1.93	%			2.24	%3
Portfolio turnover rate4			21	%			21	%			8	%			1	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		67

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Table of Contents

Financial Highlights (continued)

WisdomTree Domestic and International Earnings Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree MidCap Earnings Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period February 23,  2007* through March 31, 2007
Net asset value, beginning of period		$	26.19			$	42.08			$	48.77			$	50.01
Investment operations:
Net investment income1			0.61				0.54				0.81				0.07
Net realized and unrealized gain (loss)			20.92				(15.88	)			(6.90	)			(1.25	)
Total from investment operations			21.53				(15.34	)			(6.09	)			(1.18	)
Dividends to shareholders:
Net investment income			(0.50	)			(0.55	)			(0.60	)			(0.06	)
Total dividends to shareholders			(0.50	)			(0.55	)			(0.60	)			(0.06	)
Net asset value, end of period		$	47.22			$	26.19			$	42.08			$	48.77
TOTAL RETURN2			82.49	%			(36.73	)%			(12.57	)%			(2.37	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	54,306			$	14,406			$	25,247			$	4,877
Ratio to average net assets of:
Expenses, net of expense reimbursements			0.38	%			0.38	%			0.38	%			0.38	%3
Expenses, prior to expense reimbursements			0.38	%			0.38	%			0.38	%			0.74	%3
Net investment income			1.54	%			1.49	%			1.70	%			1.47	%3
Portfolio turnover rate4			19	%			39	%			45	%			0	%5

 

WisdomTree SmallCap Earnings Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period February 23,  2007* through March 31, 2007
Net asset value, beginning of period		$	23.25			$	38.96			$	48.03			$	50.03
Investment operations:
Net investment income1			0.37				0.47				0.58				0.06
Net realized and unrealized gain (loss)			20.96				(15.64	)			(9.17	)			(2.02	)
Total from investment operations			21.33				(15.17	)			(8.59	)			(1.96	)
Dividends to shareholders:
Net investment income			(0.25	)			(0.54	)			(0.48	)			(0.04	)
Total dividends to shareholders			(0.25	)			(0.54	)			(0.48	)			(0.04	)
Net asset value, end of period		$	44.33			$	23.25			$	38.96			$	48.03
TOTAL RETURN2			91.88	%			(39.31	)%			(17.97	)%			(3.92	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	95,306			$	13,948			$	15,585			$	9,607
Ratio to average net assets of:
Expenses, net of expense reimbursements			0.38	%			0.38	%			0.38	%			0.38	%3
Expenses, prior to expense reimbursements			0.38	%			0.38	%			0.38	%			0.58	%3
Net investment income			0.97	%			1.49	%			1.28	%			1.39	%3
Portfolio turnover rate4			16	%			51	%			37	%			0	%5

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

5	Amount represents less than 1%.

 

See Notes to Financial Statements.

 

68		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Financial Highlights (continued)

WisdomTree Domestic and International Earnings Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree LargeCap Value Fund		For the Year Ended March 31,  2010**				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period February 23,  2007* through March 31, 2007
Net asset value, beginning of period		$	24.24			$	43.53			$	49.06			$	49.99
Investment operations:
Net investment income1			0.65				0.86				1.03				0.10
Net realized and unrealized gain (loss)			12.75				(19.33	)			(5.49	)			(0.95	)
Total from investment operations			13.40				(18.47	)			(4.46	)			(0.85	)
Dividends to shareholders:
Net investment income			(0.63	)			(0.82	)			(1.07	)			(0.08	)
Total dividends to shareholders			(0.63	)			(0.82	)			(1.07	)			(0.08	)
Net asset value, end of period		$	37.01			$	24.24			$	43.53			$	49.06
TOTAL RETURN2			55.57	%			(42.87	)%			(9.31	)%			(1.69	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	35,164			$	20,607			$	23,940			$	24,529
Ratio to average net assets of:
Expenses, net of expense reimbursements			0.38	%			0.38	%			0.38	%			0.38	%3
Expenses, prior to expense reimbursements			0.38	%			0.38	%			0.38	%			0.45	%3
Net investment income			2.01	%			2.60	%			2.10	%			1.98	%3
Portfolio turnover rate4			71	%			54	%			20	%			1	%

*	Commencement of investment operations.

 

**	This information reflects the investment objective and strategy of the WisdomTree Low P/E Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree LargeCap Value Fund thereafter.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree Domestic and International Earnings Funds		69

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Table of Contents

Financial Highlights (continued)

WisdomTree Domestic and International Earnings Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree LargeCap Growth Fund		For the Year Ended March 31, 2010				For the Period December 4,  2008* through March 31, 2009
Net asset value, beginning of period		$	26.10			$	25.28
Investment operations:
Net investment income1			0.49				0.09
Net realized and unrealized gain			9.22				0.81
Total from investment operations			9.71				0.90
Dividends and distributions to shareholders:
Net investment income			(0.46	)			(0.08	)
Capital gains			(0.76	)			—
Total dividends and distributions to shareholders			(1.22	)			(0.08	)
Net asset value, end of period		$	34.59			$	26.10
TOTAL RETURN2			37.46	%			3.56	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	22,485			$	9,136
Ratio to average net assets of:
Net expenses			0.38	%			0.38	%3
Net investment income			1.53	%			1.26	%3
Portfolio turnover rate4			44	%			1	%

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

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Financial Highlights (concluded)

WisdomTree Domestic and International Earnings Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree India Earnings Fund (consolidated)		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Period February 22,  2008* through March 31, 2008
Net asset value, beginning of period		$	10.99			$	22.57			$	24.94
Investment operations:
Net investment income (loss)1			0.04				0.12				(0.01	)
Net realized and unrealized gain (loss)			12.27				(11.60	)			(2.36	)
Total from investment operations			12.31				(11.48	)			(2.37	)
Dividends to shareholders:
Net investment income			(0.05	)			(0.10	)			—
Total dividends to shareholders			(0.05	)			(0.10	)			—
Net asset value, end of period		$	23.25			$	10.99			$	22.57
TOTAL RETURN2			112.11	%			(50.89	)%			(9.50	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	841,533			$	169,195			$	162,540
Ratio to average net assets of:
Expenses, net of expense reimbursements			0.88	%			0.88	%			0.88	%3
Expenses, prior to expense reimbursements			0.88	%			0.92	%			2.10	%3
Net investment income (loss)			0.19	%			0.77	%			(0.41	)%3
Portfolio turnover rate4			33	%			42	%			0	%5

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

5	Amount represents less than 1%.

 

See Notes to Financial Statements.

 

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Notes to Financial Statements

March 31, 2010

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust pursuant to a Trust Instrument dated December 15, 2005. As of March 31, 2010, the Trust offered 42 investment funds (each a “Fund”, collectively, the “Funds”). The Funds described herein commenced operations on February 23, 2007, with the exception of the India Earnings Fund and LargeCap Growth Fund which commenced operations on February 22, 2008 and December 4, 2008, respectively.

These financial statements relate only to the WisdomTree Total Earnings Fund (“Total Earnings Fund”), WisdomTree Earnings 500 Fund (“Earnings 500 Fund”), WisdomTree MidCap Earnings Fund (“MidCap Earnings Fund”), WisdomTree SmallCap Earnings Fund (“SmallCap Earnings Fund”), WisdomTree LargeCap Value Fund (“LargeCap Value Fund”), WisdomTree LargeCap Growth Fund (“LargeCap Growth Fund”), and WisdomTree India Earnings Fund (“India Earnings Fund”), together the “Domestic and International Earnings Funds.” The India Earnings Fund makes its investments through the WisdomTree India Investment Portfolio, Inc. (the “Portfolio”), a wholly owned subsidiary organized in the Republic of Mauritius. The Portfolio is advised by WisdomTree Asset Management and is sub-advised by Mellon Capital Management Corporation, Inc. (“MCM”). For India Earnings Fund, the accompanying financial statements reflect the financial position of the Fund and the results of operations on a consolidated basis with the Portfolio. All inter-company accounts and transactions have been eliminated in consolidation. This structure should permit the India Earnings Fund to benefit from a tax treaty between India and Mauritius. Recently, the Supreme Court of India upheld the validity of this tax treaty in response to a lower court challenge contesting the treaty’s applicability to entities such as WisdomTree India Earnings Fund. No assurance can be given that the terms of the treaty will not be subject to re-negotiation in the future or subject to a different interpretation. Any change in the provision of this treaty or in its applicability to WisdomTree India Earnings Fund could result in the imposition of withholding and other taxes on the India Earnings Fund by tax authorities in India. This would reduce the return to the India Earnings Fund on its investments and the return received by India Earnings Fund shareholders. References to investments by the India Earnings Fund herein should be understood to refer to investments by the Portfolio.

Each Fund seeks investment returns that closely correspond to the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“WisdomTree Investments”). Each Fund described herein is considered to be non-diversified. The securities in each Index are weighted based on earnings or earnings yield.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) has become the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The Codification has superseded all existing non-SEC accounting and reporting standards.

Guarantees — In the normal course of business the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.

Use of Estimates — The preparation of financial statements in conformity with GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Investment Valuation — The Net Asset Value (“NAV”) of each Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. New York time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Securities traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the highest bid and lowest ask prices. Securities for which market quotations are not readily available are valued at fair value as determined by management and in accordance with procedures approved by the Board of Trustees. Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.

In certain instances, such as when reliable market valuations are not readily available or are not deemed to reflect current market values, a Fund’s investments will be valued in accordance with the Fund’s pricing policy and procedures. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events”. An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV calculation time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation).

 

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Notes to Financial Statements (continued)

 

Price movements in U.S. markets that are deemed to affect the value of foreign securities, or reflect changes to the value of such securities, also may cause securities to be “fair valued.” When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities. Transactions in Fund shares will be priced at NAV only if you purchase or redeem shares directly from a Fund in Creation Units, which are typically in blocks of 50,000 shares or more. Fund shares are purchased or sold on a national securities exchange at market prices, which may be higher or lower than NAV. Each Fund may invest in money market funds, which are valued at NAV.

Fair Value Measurement — GAAP provides guidance on fair value measurements. This standard defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosure about fair value measurements.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including each Fund’s assumption in determining the fair value of investments)

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which a Fund’s net asset value is computed and that may materially affect the value of the Fund’s investments).

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

The following is a summary of the inputs used as of March 31, 2010 in valuing each Fund’s assets carried at fair value:

 

Total Earnings Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	47,631,448		$	—		$	—
Money Market Fund			—			1,763,192			—
Total		$	47,631,448		$	1,763,192		$	—

 

Earnings 500 Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	77,207,510		$	—		$	—
Money Market Fund			—			1,954,952			—
Total		$	77,207,510		$	1,954,952		$	—

 

MidCap Earnings Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	54,176,599		$	—		$	—
Money Market Fund			—			8,817,557			—
Total		$	54,176,599		$	8,817,557		$	—

 

SmallCap Earnings Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	94,753,928		$	—		$	—
Money Market Fund			—			21,619,333			—
Total		$	94,753,928		$	21,619,333		$	—

 

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Notes to Financial Statements (continued)

 

LargeCap Value Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	34,992,902		$	—		$	—
Money Market Fund			—			952,848			—
Total		$	34,992,902		$	952,848		$	—

 

LargeCap Growth Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	22,241,851		$	—		$	—

 

India Earnings Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	840,925,927		$	—		$	—
Rights			—			8,888			—
Total		$	840,925,927		$	8,888		$	—

In January 2010, FASB issued Accounting Standards Update (“ASU”) No. 2010-06 “Improving Disclosures about Fair Value Measurements.” ASU 2010-06 will require reporting entities to make new disclosures about amounts and reasons for significant transfers in and out of Level 1 and Level 2 fair value measurements as well as inputs and valuation techniques used to measure fair value for both recurring and nonrecurring fair value measurements that fall in either Level 2 or Level 3, and information on purchases, sales, issuances and settlements on a gross basis in the reconciliation of activity in Level 3 fair value measurements. The new and revised disclosures are required to be implemented for fiscal years beginning after December 15, 2009, except for the disclosures surrounding purchases, sales, issuances and settlements on a gross basis in the reconciliation of Level 3 fair value measurements, which are effective for fiscal years beginning after December 15, 2010. Management is currently evaluating the impact the adoption of ASU No. 2010-06 may have on the Fund’s financial statement disclosures.

Derivative and Hedging Disclosure — GAAP requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The application of this disclosure is effective for fiscal years beginning November 15, 2008 and interim periods within those fiscal years. The Funds did not invest in derivative instruments for the fiscal year ended March 31, 2010.

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income is recognized on the ex-dividend date, net of any foreign taxes withheld. Interest income including amortization of premiums and discounts, is accrued daily. The value of additional securities received as dividend payments is recorded as income and as an increase to the cost basis of such securities.

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates deemed appropriate by the investment adviser. Realized and unrealized foreign exchange gains or losses on investments are included as a component of net realized and unrealized gain or loss on foreign currency transactions in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

Expenses/Reimbursements — WisdomTree Asset Management (“WTAM”) has agreed to pay all expenses of the Funds (other than the India Earnings Fund), except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s chief compliance officer; (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Pursuant to a separate contractual arrangement, WTAM has arranged for the provision of chief compliance officer (“CCO”) services to the Funds, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees, in exchange for a service fee paid by each Fund of up to 0.0044% of each Fund’s average daily net assets.

 

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Notes to Financial Statements (continued)

 

Trustees fees, which are included in Service Fees on the Statements of Operations, of $361,436 have been paid on behalf of the Funds of the Trust to the Independent Trustees for the fiscal year ended March 31, 2010. Expenses in excess of 0.0044% were paid by WTAM. WTAM has agreed to limit the total expenses of the India Earnings Fund to 0.88%. Due to the growth of Fund assets, India Earnings Fund’s operating expenses, as measured in basis points, did not exceed 0.88%.

Security Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Fund’s policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high grade debt obligations, equivalent to at least 100% of the market value of securities is maintained at all times. The collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash or U.S. government securities held as collateral, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. The Funds retain all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults.

The securities lending income earned by the Funds is disclosed on the Statements of Operations.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments in which a Fund may invest include short-term obligations issued by the U.S. Government, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends, if any, to investors at least annually. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from GAAP. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profit for tax purposes, are reported as a tax return of capital. The India Earnings Fund has filed an election to treat the WisdomTree India Investment Portfolio, Inc. as a “pass-through” entity for tax purposes.

3. ADVISER FEES AND TRANSACTIONS

As investment adviser, WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM also arranges for sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services necessary for the Funds to operate. Under the Investment Advisory Agreement for each Fund (other than the India Earnings Fund), WTAM agrees to pay all expenses of the Funds, except compensation and expenses of the Independent Trustees, counsel to the Independent Trustees and the Trust’s CCO, interest expenses and taxes, brokerage expenses, and other expenses connected with the execution of portfolio transactions, any distribution fees or expenses, legal fees or expenses and extraordinary expenses. The Investment Advisory Agreement for the India Earnings Fund does not require WTAM to pay any Fund expenses, except sub-advisory fees.

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund (other than the India Earnings Fund), and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee of up to 0.0044%. As of October 1, 2009, WTAM provides CCO services to the Trust. WTAM has agreed to limit net annual operating expenses for the India Earnings Fund to 0.88%. The fees paid to WTAM for providing advisory services are listed below.

 

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Notes to Financial Statements (continued)

 

Fund		Fee Rate
Total Earnings Fund		0.28	%
Earnings 500 Fund		0.28	%
MidCap Earnings Fund		0.38	%
SmallCap Earnings Fund		0.38	%
LargeCap Value Fund		0.38	%
LargeCap Growth Fund		0.38	%
India Earnings Fund		0.68	%

Each Fund may purchase shares of an affiliated exchange traded fund(s) in secondary market transactions. For the fiscal year ended March 31, 2010, there were no transactions in affiliated ETFs.

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2010, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consists of the in-kind contribution of a designated portfolio of equity securities constituting a portfolio sampling representation of the securities included in the relevant Fund’s underlying index and an amount of cash. The WisdomTree India Earnings Fund issues and redeems shares on a cash basis only. Investors purchasing and redeeming Creation Units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding in-kind purchases and redemptions and short-term investments) for the fiscal year ended March 31, 2010 were as follows:

 

Fund		Purchases			Sales
Total Earnings Fund		$	7,930,234		$	4,706,486
Earnings 500 Fund			16,991,117			11,751,798
MidCap Earnings Fund			24,390,581			5,483,342
SmallCap Earnings Fund			41,860,344			8,432,452
LargeCap Value Fund			19,567,007			19,640,105
LargeCap Growth Fund			8,148,299			8,721,516
India Earnings Fund			585,003,347			172,154,261

For the fiscal year ended March 31, 2010, the cost of in-kind purchases and the proceeds from in-kind redemptions were as follows:

 

Fund		Purchases			Redemptions
Total Earnings Fund		$	40,733,281		$	22,987,404
Earnings 500 Fund			16,172,397			23,770,791
MidCap Earnings Fund			25,040,226			18,908,305
SmallCap Earnings Fund			78,086,272			52,889,752
LargeCap Value Fund			3,701,018			—
LargeCap Growth Fund			8,869,970			—
India Earnings Fund			—			—

Gains and losses on in-kind redemptions are not recognized at the Fund level for tax purposes.

 

76		WisdomTree Domestic and International Earnings Funds

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Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2010, the cost of investments (including securities on loan) for Federal income tax purposes was as follows:

 

Fund		Tax Cost			Gross Unrealized Appreciation			Gross Unrealized Depreciation				Net Unrealized Appreciation (Depreciation)
Total Earnings Fund		$	50,374,404		$	1,538,623		$	(2,518,387	)		$	(979,764	)
Earnings 500 Fund			81,271,661			3,583,790			(5,692,989	)			(2,109,199	)
MidCap Earnings Fund			58,613,936			5,707,292			(1,327,072	)			4,380,220
SmallCap Earnings Fund			111,362,561			8,070,205			(3,059,505	)			5,010,700
LargeCap Value Fund			31,194,678			5,270,000			(518,928	)			4,751,072
LargeCap Growth Fund			17,974,550			4,300,327			(33,026	)			4,267,301
India Earnings Fund			725,312,085			140,543,045			(24,920,315	)			115,622,730

At March 31, 2010, the components of accumulated earning/loss on a tax-basis were as follows:

 

Fund		Undistributed Ordinary Income and Other Ordinary Losses			Undistributed Capital and Other Gains/(Losses)				Net Unrealized Appreciation (Depreciation)				Currency Unrealized Appreciation (Depreciation)				Total Accumulated Earnings/ (Losses)
Total Earnings Fund		$	23,247		$	(5,038,242	)		$	(979,764	)		$	—			$	(5,994,759	)
Earnings 500 Fund			37,252			(16,907,536	)			(2,109,199	)			—				(18,979,483	)
MidCap Earnings Fund			26,152			(9,229,419	)			4,380,220				—				(4,823,047	)
SmallCap Earnings Fund			45,160			(8,206,920	)			5,010,700				—				(3,151,060	)
LargeCap Value Fund			13,902			(12,277,266	)			4,751,072				—				(7,512,292	)
LargeCap Growth Fund			6,807			(27,836	)			4,267,301				—				4,246,272
India Earnings Fund			447,862			(28,719,079	)			115,622,730				(4,561	)			87,346,952

The tax character of distributions paid during the period ended March 31, 2010 and the year ended March 31, 2009, was as follows:

 

		Year Ended March 31, 2010						Year Ended March 31, 2009
Fund		Distributions Paid from Ordinary Income*			Distributions Paid from Long-Term Capital Gains			Distributions Paid from Ordinary Income*
Total Earnings Fund		$	540,172		$	—		$	459,975
Earnings 500 Fund			1,068,776			—			1,621,994
MidCap Earnings Fund			437,001			—			345,011
SmallCap Earnings Fund			411,568			—			255,760
LargeCap Value Fund			551,890			—			620,423
LargeCap Growth Fund			770,937			208			20,745
India Earnings Fund			1,343,522			—			1,428,048

*

Includes short-term capital gains.

At March 31, 2010, for Federal income tax purposes, the Funds have capital loss carryforwards available to offset future capital gains through the years indicated. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

Fund		Capital Loss Available Through 2016			Capital Loss Available Through 2017			Capital Loss Available Through 2018			Capital Loss Available Total
Total Earnings Fund		$	133,369		$	451,951		$	3,393,418		$	3,978,738
Earnings 500 Fund			194,476			1,286,040			10,811,338			12,291,854
MidCap Earnings Fund			354,730			1,545,771			6,328,159			8,228,660
SmallCap Earnings Fund			31,705			1,465,208			4,654,874			6,151,787
LargeCap Value Fund			281,843			1,085,926			10,909,497			12,277,266
LargeCap Growth Fund			—			—			—			—
India Earnings Fund			1,179			20,567,350			7,978,486			28,547,015

 

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Notes to Financial Statements (concluded)

 

Capital and currency losses incurred after October 31 (“post-October capital losses”) and within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year.

During the fiscal year ended March 31, 2010, the following Funds incurred and will elect to defer net post-October capital and currency losses as follows:

 

Fund		Post-October Capital Losses			Post-October Currency Losses
Total Earnings Fund		$	1,059,504		$	—
Earnings 500 Fund			4,615,682			—
MidCap Earnings Fund			1,000,759			—
SmallCap Earnings Fund			2,055,133			—
LargeCap Value Fund			—			—
LargeCap Growth Fund			27,836			—
India Earnings Fund			172,064			—

At March 31, 2010, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as follows:

 

Fund		Undistributed Net Investment Income/(Loss)				Accumulated Net Realized Gain/(Loss)				Paid-in Capital
Total Earnings Fund		$	(1,662	)		$	(3,034,061	)		$	3,035,723
Earnings 500 Fund			—				2,457,148				(2,457,148	)
MidCap Earnings Fund			654				(3,583,995	)			3,583,341
SmallCap Earnings Fund			(48,351	)			(12,443,898	)			12,492,249
LargeCap Value Fund			699				(698	)			(1	)
LargeCap Growth Fund			(8	)			9				(1	)
India Earnings Fund			882,899				(859,030	)			(23,869	)

These differences are primarily due to redemptions-in-kind and the tax treatment of income earned from investments in partnerships and/or foreign currency transactions.

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign taxes are provided for based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued and applied to net investment income, net realized capital gains and net unrealized appreciation, as applicable, as the income is earned or capital gains are recorded. As of and during the fiscal year ended March 31, 2010, the Funds did not have any liabilities for unrecognized tax benefits. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with U.S. Internal Revenue Service, New York, and various states. Generally, each of the tax years in the four year period ended March 31, 2010, remains subject to examination by taxing authorities.

7. SUBSEQUENT EVENT

In accordance with GAAP provisions, management of the Funds has evaluated the possibility of subsequent events existing in the Funds’ financial statements through the date the financial statements were issued. Management has determined that there are no material events that would require disclosure in the Funds’ financial statements.

 

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Report of Independent Registered Public Accounting Firm

 

The Board of Trustees and Shareholders of WisdomTree Trust:

We have audited the accompanying consolidated statements of assets and liabilities, including the consolidated schedules of investments, of WisdomTree Total Earnings Fund, WisdomTree Earnings 500 Fund, WisdomTree MidCap Earnings Fund, WisdomTree SmallCap Earnings Fund, WisdomTree LargeCap Value Fund, WisdomTree LargeCap Growth Fund, and WisdomTree India Earnings Fund (seven of the investment funds constituting the WisdomTree Trust (the “Trust”)) as of March 31, 2010, and the related consolidated statements of operations, the consolidated statements of changes in net assets and the financial highlights for each of the periods indicated therein. These consolidated financial statements and financial highlights are the responsibility of the Trust’s management. Our responsibility is to express an opinion on these consolidated financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Trust’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of March 31, 2010, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of WisdomTree Total Earnings Fund, WisdomTree Earnings 500 Fund, WisdomTree MidCap Earnings Fund, WisdomTree SmallCap Earnings Fund, WisdomTree LargeCap Value Fund, WisdomTree LargeCap Growth Fund, and WisdomTree India Earnings Fund of WisdomTree Trust at March 31, 2010, the results of their operations, the changes in their net assets and the financial highlights for each of the indicated periods, in conformity with U.S. generally accepted accounting principles.

New York, New York

May 26, 2010

 

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Approval of Investment Advisory and Sub-Advisory Agreement (unaudited)

 

Approval of Investment Advisory Agreement. The Trust and the Investment Adviser have entered into an investment advisory agreement covering each Fund discussed herein. At a meeting held on March 19, 2010, the Board of Trustees re-approved the Investment Advisory Agreement for each Fund. The Board reviewed and analyzed the factors it deemed relevant, including: (i) the nature, quality and extent of the services to be provided to the Funds by WTAM; (ii) the performance of the Funds; (iii) the costs of services to be provided and the profits to be realized by WTAM from its relationship with the Funds; (iv) the extent to which economies of scale would be realized as the Funds grow; (v) whether the fee levels reflect these economies of scale for the benefit of investors; and(vi) the fees charged by the Investment Adviser for non-registered funds.

The Board also considered the nature and quality of the services to be provided by WTAM to the Funds, recognizing WTAM’s operational capabilities and resources. The Board also noted the extensive responsibilities that WTAM has as investment adviser to the Funds, including the selection of the Funds’ Sub-Advisers and oversight of the Sub-Advisers’ compliance with Fund policies and objectives, oversight of general Fund compliance with federal and state laws, and the implementation of Board directives as they relate to the Funds.

The Board gave substantial consideration to the fees payable under the Advisory Agreement. In this connection, the Board evaluated WTAM’s anticipated costs and profitability in serving as investment adviser to the Funds, including the costs associated with the personnel, systems and equipment necessary to manage the Funds and the costs associated with compensating the Sub-Adviser. The Board also examined the fees to be paid by each Fund in light of fees paid to other investment managers by comparable funds and the method of computing each Fund’s fee. After comparing the fees with those of comparable funds and in light of the quality and extent of services to be provided and the costs anticipated to be incurred by WTAM, the Board concluded that the level of the fees paid to WTAM with respect to each Fund is fair and reasonable. The Board also re-approved the Sub-Advisory Agreement between WTAM and Mellon Capital Management (“MCM”), on behalf of each Fund, using essentially the same criteria it used in connection with the Advisory Agreement. The Board considered MCM’s operational capabilities and resources and MCM’s experience in serving as an adviser to ETFs, noting that MCM currently provides investment advisory and management services to other ETFs. The Board considered the investment performance of the Funds, and the expertise and performance of the MCM personnel. The Board also noted that Bank of New York Mellon Corporation, an affiliate of MCM, serves as the Funds’ administrator, accountant, custodian, transfer agent and securities lending agent and receives compensation for acting in these capacities and is responsible for, among other things, coordinating the Funds’ audits, financial statements and tax returns, managing expenses and budgeting for the Funds, processing trades on behalf of each Fund and custodying Fund assets. As such, the Board concluded that the benefits accruing to MCM and its affiliates by virtue of their relationship to the Trust are reasonable and fair in comparison with the anticipated costs of providing the relevant services. The Board noted that WTAM, not the Funds, pays the fees to MCM under the Sub-Advisory Agreement for each Fund.

Based on these considerations and the overall high quality of the personnel, operations, financial condition, investment advisory capabilities, methodologies, and performance of WTAM and MCM, the Board determined that the re-approval of the Advisory Agreements and the Sub-Advisory Agreements was in the best interests of each Fund. After full consideration of these and other factors, the Board, including a majority of the Independent Trustees, with the assistance of independent counsel, approved the Advisory Agreements and Sub-Advisory Agreements.

 

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Table of Contents

Frequency Distribution of Discounts & Premiums (unaudited)

 

The chart below presents information about differences between the per share net asset value (“NAV”) of each Fund and the market trading price of shares of each Fund. For these purposes, the “market price” is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. The term “premium” is sometimes used to describe a market price in excess of NAV and the term “discount” is sometimes used to describe a market price below NAV. The chart presents information about the size and frequency of premiums or discounts. As with other exchange traded funds, the market price of Fund shares is typically slightly higher or lower than the Fund’s per share NAV. Factors that contribute to the differences between market price and NAV include the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Differences between the closing times of U.S. and non-U.S. markets may contribute to differences between the NAV and market price of Fund shares. Many non-U.S. markets close prior to the close of the U.S. securities exchanges. Developments after the close of such markets as a result of ongoing price discovery may be reflected in a Fund’s market price but not in its NAV (or vice versa).

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree Total Earnings Fund
February 23, 2007 – March 31, 2010		0 – 24.9		313		37.13	%		464		55.04	%
		25 – 49.9		17		2.02	%		27		3.20	%
		50 – 74.9		3		0.36	%		7		0.83	%
		75 – 99.9		5		0.59	%		0		0.00	%
		100 – 124.9		0		0.00	%		1		0.12	%
		125 – 174.9		0		0.00	%		0		0.00	%
		175 – 199.9		0		0.00	%		0		0.00	%
		200 – 249.9		0		0.00	%		1		0.12	%
		>250		4		0.47	%		1		0.12	%
		Total		342		40.57	%		501		59.43	%
WisdomTree Earnings 500 Fund
February 23, 2007 – March 31, 2010		0 – 24.9		301		35.70	%		461		54.69	%
		25 – 49.9		19		2.25	%		38		4.51	%
		50 – 74.9		3		0.36	%		6		0.71	%
		75 – 99.9		5		0.59	%		4		0.47	%
		100 – 124.9		3		0.36	%		0		0.00	%
		125 – 174.9		1		0.12	%		1		0.12	%
		175 – 199.9		0		0.00	%		0		0.00	%
		200 – 249.9		0		0.00	%		0		0.00	%
		>250		1		0.12	%		0		0.00	%
		Total		333		39.50	%		510		60.50	%
WisdomTree MidCap Earnings Fund
February 23, 2007 – March 31, 2010		0 – 24.9		396		46.98	%		355		42.10	%
		25 – 49.9		20		2.37	%		38		4.51	%
		50 – 74.9		6		0.71	%		13		1.54	%
		75 – 99.9		4		0.47	%		1		0.12	%
		100 – 124.9		2		0.24	%		3		0.36	%
		125 – 174.9		1		0.12	%		2		0.24	%
		175 – 199.9		0		0.00	%		0		0.00	%
		200 – 249.9		0		0.00	%		1		0.12	%
		>250		0		0.00	%		1		0.12	%
		Total		429		50.89	%		414		49.11	%

 

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Frequency Distribution of Discounts & Premiums (unaudited) (continued)

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree SmallCap Earnings Fund
February 23, 2007 – March 31, 2010		0 – 24.9		388		46.02	%		295		34.99	%
		25 – 49.9		64		7.59	%		48		5.69	%
		50 – 74.9		13		1.54	%		8		0.95	%
		75 – 99.9		3		0.36	%		1		0.12	%
		100 – 124.9		4		0.47	%		10		1.19	%
		125 – 174.9		1		0.12	%		1		0.12	%
		175 – 199.9		1		0.12	%		1		0.12	%
		200 – 249.9		2		0.24	%		0		0.00	%
		>250		2		0.24	%		1		0.12	%
		Total		478		56.70	%		365		43.30	%
WisdomTree LargeCap Value Fund
February 23, 2007 – March 31, 2010		0 – 24.9		299		35.46	%		444		52.66	%
		25 – 49.9		18		2.14	%		31		3.68	%
		50 – 74.9		10		1.19	%		7		0.83	%
		75 – 99.9		9		1.07	%		4		0.47	%
		100 – 124.9		5		0.59	%		2		0.24	%
		125 – 174.9		2		0.24	%		2		0.24	%
		175 – 199.9		1		0.12	%		0		0.00	%
		200 – 249.9		2		0.24	%		0		0.00	%
		>250		6		0.71	%		1		0.12	%
		Total		352		41.76	%		491		58.24	%
WisdomTree LargeCap Growth Fund
December 4, 2008 – March 31, 2010		0 – 24.9		202		51.40	%		169		43.01	%
		25 – 49.9		9		2.29	%		7		1.78	%
		50 – 74.9		0		0.00	%		1		0.25	%
		75 – 99.9		4		1.02	%		0		0.00	%
		100 – 124.9		0		0.00	%		0		0.00	%
		125 – 174.9		0		0.00	%		1		0.25	%
		175 – 199.9		0		0.00	%		0		0.00	%
		200 – 249.9		0		0.00	%		0		0.00	%
		>250		0		0.00	%		0		0.00	%
		Total		215		54.71	%		178		45.29	%
WisdomTree India Earnings Fund
February 22, 2008 – March 31, 2010		0 – 24.9		33		5.57	%		36		6.08	%
		25 – 49.9		49		8.28	%		32		5.41	%
		50 – 74.9		47		7.94	%		28		4.73	%
		75 – 99.9		46		7.77	%		24		4.05	%
		100 – 124.9		46		7.77	%		20		3.38	%
		125 – 174.9		38		6.42	%		27		4.56	%
		175 – 199.9		24		4.05	%		16		2.70	%
		200 – 249.9		30		5.07	%		22		3.72	%
		>250		42		7.09	%		32		5.41	%
		Total		355		59.96	%		237		40.04	%

*	Basis point (bps), is a unit that is equal to 1/100th of 1%.

 

82		WisdomTree Domestic and International Earnings Funds

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Table of Contents

Trustee and Officer Information (unaudited)

 

The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by WisdomTree Asset Management and other service providers. The Board of Trustees elects the officers of the Trust who are responsible for administering the Trust’s day-to-day operations. Each Trustee serves until his or her successor is duly elected or appointed and qualified.

The address of each Trustee and Officer is c/o WisdomTree Asset Management, Inc., 380 Madison Avenue, 21st Floor, New York, NY 10017.

Interested Trustee and Officers

 

Name (year of birth)		Position		Term of Office and Length of Time Served		Principal Occupation(s) During the Past 5 Years		Number of Portfolios in Fund Complex Overseen by Trustee/Officer+		Other Directorships Held by Trustee/Officers
Jonathan Steinberg (1964)		Trustee, President*		Trustee and Officer since 2005		President, WisdomTree Trust since 2005; Chief Executive Officer of WisdomTree Investments, Inc. and Director of WisdomTree Investments, Inc. since 1989.		42		None.
Amit Muni (1969)		Treasurer*, Assistant Secretary*		Officer since 2008		Chief Financial Officer and Assistant Secretary of WisdomTree Investments, Inc. since March 2008; International Securities Exchange Holdings, Inc. (ISE), Controller and Chief Accounting Officer from 2003 to 2008.		42		None.
Richard Morris (1967)		Secretary*, Chief Legal Officer*		Officer since 2005		General Counsel of WisdomTree Asset Management since 2009; Deputy Counsel of WisdomTree Investments, Inc. since 2005; Senior Counsel at Barclays Global Investors, N. A. from 2002 to 2005.		42		None.

 

+	As of March 31, 2010.

 

*	Elected by and serves at the pleasure of the Board of Trustees

 

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Trustee and Officer Information (unaudited) (concluded)

 

Independent Trustees

 

Name (year of birth)		Position		Term of Office and Length of Time Served		Principal Occupation(s) During the Past 5 Years		Number of Portfolios in Fund Complex Overseen by Trustee+		Other Directorships Held by Trustee
Gregory Barton (1961)*		Trustee		Trustee since 2006		Executive Vice President of Business and Legal Affairs, General Counsel and Secretary of TheStreet.com, 2009 to present; General Counsel of Martha Stewart Living Omnimedia, Inc. from 2007 to 2008; Executive Vice President of Licensing and Legal Affairs, General Counsel and Secretary of Ziff Davis Media Inc. from 2004 to 2007; Executive Vice President of Legal Affairs, General Counsel and Secretary of Ziff Davis Media Inc. from 2002 to 2004; President from 2001 to 2002, Chief Financial Officer from 2000 to 2002, Vice President of Business Development from 1999 to 2001 and General Counsel and Secretary from 1998 to 2002 of WisdomTree Investments, Inc.		42		None.
Toni Massaro (1955)**		Trustee		Trustee since 2006		Dean Emerita at University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009; Dean at the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.		42		None.
Victor Ugolyn (1947)		Trustee, Chairman of the Board of Trustees		Trustee since 2006		Private Investor - 2005 to Present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds 1991 to 2004.		42		Trustee on Board of Trustees of Naismith Memorial Basketball Hall of Fame; Member of the Board of Overseers of Stanford University’s Hoover Institution.

 

+	As of March 31, 2010.

 

*	Chair of the Audit Committee.

 

**	Chair of the Governance and Nominating Committee.

 

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Table of Contents

Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds fiscal year ended March 31, 2010, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2011.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2010, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

Fund		Qualified Dividend Income
Total Earnings Fund		$	540,173
Earnings 500 Fund			1,068,776
MidCap Earnings Fund			437,001
SmallCap Earnings Fund			411,374
LargeCap Value Fund			551,890
LargeCap Growth Fund			342,333
India Earnings Fund			1,514,900

The following represents the percentage of dividends paid during the fiscal year ended March 31, 2010, that qualify for the 70% dividends received deduction for corporate shareholders:

 

Fund		Dividends-Received Deduction
Total Earnings Fund		100.00	%
Earnings 500 Fund		100.00
MidCap Earnings Fund		100.00
SmallCap Earnings Fund		99.95
LargeCap Value Fund		100.00
LargeCap Growth Fund		44.40
India Earnings Fund		N/A

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries. The gross foreign source income and foreign taxes paid are as follows:

 

Fund		Gross Foreign Income			Foreign Taxes Paid
Total Earnings Fund		$	—		$	—
Earnings 500 Fund			—			—
MidCap Earnings Fund			—			—
SmallCap Earnings Fund			—			—
LargeCap Value Fund			—			—
LargeCap Growth Fund			—			—
India Earnings Fund			5,576,739			171,378

 

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General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained by calling 866-909-9473; or writing to: WisdomTree Trust, c/o ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the Securities and Exchange Commission (“SEC”) no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 866-909-9473 or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Copies of the filings are available, without charge, upon request on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE. You can also obtain copies of Form N-Q by (i) visiting the SEC’s Public Reference Room in Washington, DC (information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330); (ii) sending your request and a duplicating fee to the SEC’s Public Reference Room, Washington, DC 20549-0102; or (iii) sending your request electronically to publicinfosec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.

The Fund’s Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

 

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The WisdomTree Family of Funds

 

The following is a list of WisdomTree Funds being offered, along with their respective ticker symbols as of March 31, 2010:

 

WisdomTree Domestic Dividend Funds   WisdomTree Total Dividend Fund (DTD)   WisdomTree Equity Income Fund (DHS)   WisdomTree LargeCap Dividend Fund (DLN)   WisdomTree Dividend ex-Financials Fund (DTN)   WisdomTree MidCap Dividend Fund (DON)   WisdomTree SmallCap Dividend Fund (DES)   WisdomTree International Dividend Funds   WisdomTree DEFA Fund (DWM)   WisdomTree DEFA Equity Income Fund (DTH)   WisdomTree Global Equity Income Fund (DEW)   WisdomTree Europe SmallCap Dividend Fund (DFE)   WisdomTree Japan Total Dividend Fund (DXJ)   WisdomTree World ex-U.S. Growth Fund (DNL)   WisdomTree Japan SmallCap Dividend Fund (DFJ)   WisdomTree Pacific ex-Japan Total Dividend Fund (DND)   WisdomTree Pacific ex-Japan Equity Income Fund (DNH)   WisdomTree International LargeCap Dividend Fund (DOL)   WisdomTree International Dividend ex-Financials Fund (DOO)   WisdomTree International MidCap Dividend Fund (DIM)   WisdomTree International SmallCap Dividend Fund (DLS)   WisdomTree Emerging Markets Equity Income Fund (DEM)   WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)   WisdomTree Middle East Dividend Fund (GULF)   WisdomTree International Hedged Equity Fund (HEDJ)		WisdomTree International Dividend Sector Funds   WisdomTree International Basic Materials Sector Fund (DBN)   WisdomTree International Energy Sector Fund (DKA)   WisdomTree International Utilities Sector Fund (DBU)   WisdomTree International Real Estate Fund (DRW)   WisdomTree Domestic and International Earnings Funds   WisdomTree Total Earnings Fund (EXT)   WisdomTree Earnings 500 Fund (EPS)   WisdomTree MidCap Earnings Fund (EZM)   WisdomTree SmallCap Earnings Fund (EES)   WisdomTree LargeCap Value Fund (EZY)   WisdomTree LargeCap Growth Fund (ROI)   WisdomTree India Earnings Fund (EPI)   WisdomTree Currency Income Funds   WisdomTree Dreyfus Brazilian Real Fund (BZF)   WisdomTree Dreyfus Chinese Yuan Fund (CYB)   WisdomTree Dreyfus Emerging Currency Fund (CEW)   WisdomTree Dreyfus Euro Fund (EU)   WisdomTree Dreyfus Indian Rupee Fund (ICN)   WisdomTree Dreyfus Japanese Yen Fund (JYF)   WisdomTree Dreyfus New Zealand Dollar Fund (BNZ)   WisdomTree Dreyfus South African Rand Fund (SZR)

The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission (“SEC”) as series of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree Investments, Inc., serves as the investment adviser to the WisdomTree Trust. None of the WisdomTree entities are affiliated with ALPS Distributors, Inc., the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee future results. Indexes are unmanaged and you can not invest directly in an index.

There are risks associated with investing including possible loss of principal. In addition to the normal risks of investing, foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country increase the impact of events and developments associated with the region which can adversely affect performance. Funds focusing on a single country, sector and/or smaller companies generally experience greater price volatility. Investments in emerging frontier markets are generally less liquid and less efficient than developed markets. Investments in currency involve additional special risks, such as credit risk, interest rate fluctuations, derivative investment risk and the effect of varied economic conditions. Derivatives can be volatile and may be less liquid than other securities. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting issuers. Unlike typical exchange-traded funds, there are no indexes that the currency funds attempt to track or replicate. Thus, the ability of the currency Funds to achieve their objectives will depend on the effectiveness of the portfolio manager. Please read the Funds’ prospectus for specific details regarding each Fund’s risk profile. Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only in large amounts of 50,000 shares or more.

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380 Madison Avenue, 21st Floor

New York, NY 10017

1.866.909.WISE (9473)

 

WisdomTree Earnings ETFs

WisdomTree Total Earnings Fund

WisdomTree Earnings 500 Fund

WisdomTree MidCap Earnings Fund

WisdomTree SmallCap Earnings Fund

WisdomTree LargeCap Value Fund

WisdomTree LargeCap Growth Fund

WisdomTree India Earnings Fund

WisdomTree Fund shares are distributed by ALPS Distributors, Inc.

WIS002527 (05/2011)

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International Dividend and Sector Funds

 

Annual Report

March 31, 2010

WisdomTree DEFA Fund (DWM)

WisdomTree DEFA Equity Income Fund (DTH)

WisdomTree Global Equity Income Fund (DEW)

WisdomTree Europe SmallCap Dividend Fund (DFE)

WisdomTree Japan Total Dividend Fund (DXJ)

WisdomTree World ex-U.S. Growth Fund (DNL)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

WisdomTree Pacific ex-Japan Total Dividend Fund (DND)

WisdomTree Pacific ex-Japan Equity Income Fund (DNH)

WisdomTree International LargeCap Dividend Fund (DOL)

WisdomTree International Dividend ex-Financials Fund (DOO)

WisdomTree International MidCap Dividend Fund (DIM)

WisdomTree International SmallCap Dividend Fund (DLS)

WisdomTree Emerging Markets Equity Income Fund (DEM)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

WisdomTree Middle East Dividend Fund (GULF)

WisdomTree International Hedged Equity Fund (HEDJ)

WisdomTree International Basic Materials Sector Fund (DBN)

WisdomTree International Energy Sector Fund (DKA)

WisdomTree International Utilities Sector Fund (DBU)

WisdomTree International Real Estate Fund (DRW)

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Table of Contents

 

Management’s Discussion of Funds’ Performance (unaudited)		2
Performance Summaries (unaudited)		4
Shareholder Expense Examples (unaudited)		30
Schedules of Investments
WisdomTree DEFA Fund		33
WisdomTree DEFA Equity Income Fund		39
WisdomTree Global Equity Income Fund		42
WisdomTree Europe SmallCap Dividend Fund		47
WisdomTree Japan Total Dividend Fund		50
WisdomTree World ex-U.S. Growth Fund		54
WisdomTree Japan SmallCap Dividend Fund		57
WisdomTree Pacific ex-Japan Total Dividend Fund		62
WisdomTree Pacific ex-Japan Equity Income Fund		64
WisdomTree International LargeCap Dividend Fund		65
WisdomTree International Dividend ex-Financials Fund		67
WisdomTree International MidCap Dividend Fund		69
WisdomTree International SmallCap Dividend Fund		73
WisdomTree Emerging Markets Equity Income Fund		78
WisdomTree Emerging Markets SmallCap Dividend Fund		81
WisdomTree Middle East Dividend Fund		85
WisdomTree International Hedged Equity Fund		86
WisdomTree International Basic Materials Sector Fund		91
WisdomTree International Energy Sector Fund		93
WisdomTree International Utilities Sector Fund		94
WisdomTree International Real Estate Fund		95
Statements of Assets and Liabilities		97
Statements of Operations		101
Statements of Changes in Net Assets		104
Financial Highlights		111
Notes to the Financial Statements		132
Report of Independent Registered Public Accounting Firm		150
Approval of Investment Advisory and Sub-Advisory Agreement (unaudited)		151
Frequency Distribution of Discounts & Premiums (unaudited)		152
Trustees and Officers Information (unaudited)		157
Supplemental Information (unaudited)		159
General Information (unaudited)		161

“WisdomTree” is a registered mark of WisdomTree Investments, Inc. and is licensed for use by the Trust.

 

1

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Management’s Discussion of Funds’ Performance

(unaudited)

International Dividend and Sector Funds

 

The international equity markets, measured by the MSCI EAFE Index, a broad measure of equity performance for the developed world outside the U.S. and Canada, rallied 54.44% in the 12-months that ended March 31, 2010 (the “period”). This large rally in the markets did not quite make up for the vicious declines that sent the MSCI EAFE Index down 46.51% for the 12-months ended March 31, 2009. As of the Funds’ fiscal year-end, the MSCI EAFE Index still had losses of 17.38% cumulatively on a 2-year basis. An improving global economy, led by emerging market nations, created expectations of improved earnings for international equities both this year and beyond.

On a regional basis, international returns were greatly impacted by the returns of non-U.S. currencies relative to the U.S. dollar. The Australian dollar led all the currencies in the EAFE region, with a gain of 33%. The euro gained 2% and the yen and British pound each gained about 6%. These gains magnified returns, especially for Australian equities and the Pacific ex-Japan region, where Australia comprises a large share of the Pacific ex-Japan regional indexes.

 

Ticker		WisdomTree Fund		1 Year Return		Capitalization-Weighted Benchmark Index		1 Year Return		1 Year Return Fund vs Index
DNH		WisdomTree Pacific ex-Japan Equity Income Fund		93.79%		MSCI Pacific ex-Japan Value Index		86.29%		7.50%
DGS		WisdomTree Emerging Markets SmallCap Dividend Fund		86.26%		MSCI Emerging Markets Small Cap Index		118.10%		-31.84%
DBN		WisdomTree International Basic Materials Sector Fund		83.44%		S&P Developed ex-U.S. BMI Materials Sector Index		80.66%		2.78%
DRW		WisdomTree International Real Estate Fund		74.20%		Dow Jones Global ex-U.S. Select Real Estate Securities Index		69.22%		4.98%
DFE		WisdomTree Europe SmallCap Dividend Fund		74.18%		MSCI Europe Small Cap Index		82.91%		-8.73%
DEM		WisdomTree Emerging Markets Equity Income Fund		73.33%		MSCI Emerging Markets Index		81.08%		-7.75%
DND		WisdomTree Pacific ex-Japan Total Dividend Fund		70.97%		MSCI Pacific ex-Japan Index		82.20%		-11.23%
DLS		WisdomTree International SmallCap Dividend Fund		66.50%		MSCI EAFE Small Cap Index		70.02%		-3.52%
DEW		WisdomTree Global Equity Income Fund		62.13%		Spliced Cap-Weighted Benchmark Index1		67.94%		-5.81%
DIM		WisdomTree International MidCap Dividend Fund		59.59%		MSCI EAFE Mid Cap Index		57.25%		2.34%
DOO		WisdomTree International Dividend ex-Financials Fund		56.27%		MSCI EAFE Value Index		58.52%		-2.25%
DTH		WisdomTree DEFA Equity Income Fund		53.57%		MSCI EAFE Value Index		58.52%		-4.95%
DWM		WisdomTree DEFA Fund		51.43%		MSCI EAFE Index		54.44%		-3.01%
DOL		WisdomTree International LargeCap Dividend Fund		49.56%		MSCI EAFE Index		54.44%		-4.88%
DNL		WisdomTree World ex-U.S. Growth Fund		46.04%		Spliced Cap-Weighted Benchmark Index2		58.32%		-12.28%
DKA		WisdomTree International Energy Sector Fund		37.29%		S&P Developed ex-U.S. BMI Energy Sector Index		49.63%		-12.34%
GULF		WisdomTree Middle East Dividend Fund		35.25%		MSCI Arabian Markets ex Saudi Arabia Index		42.02%		-6.77%
DFJ		WisdomTree Japan SmallCap Dividend Fund		34.37%		MSCI Japan Small Cap Index		34.24%		0.13%
DXJ		WisdomTree Japan Total Dividend Fund		33.33%		MSCI Japan Index		37.87%		-4.54%
DBU		WisdomTree International Utilities Sector Fund		26.42%		S&P Developed ex-U.S. BMI Utilities Sector Index		28.93%		-2.51%

WisdomTree International Hedged Equity Fund (HEDJ) did not have one full year’s worth of returns as it was launched on December 31, 2009.

 

2		WisdomTree International Dividend and Sector Funds

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Management’s Discussion of Funds’ Performance

(unaudited) (concluded)

 

WisdomTree’s international dividend weighted funds are designed to track indexes based on the dividend stream generated by the companies included in the index. There are two primary factors that drive performance differentials versus market cap-weighted benchmarks: aggregate exposure to a sector or country and stock selection within a sector or country, both of which are determined as part of WisdomTree’s rules-based index methodology. These exposures are not subjectively determined. Rather they are objectively determined at the re-balancing dates based on the dividend stream.

The Pacific ex-Japan Equity Income Fund (DNH) had a percentage of its assets invested in Australia and was the Trust’s best performing fund during the period. The Fund’s returns were largely driven by the 33% gains in the Australian dollar discussed above. Australian financial stocks, in particular, which comprised nearly half of the fund, performed well during this period.

As with the downturn, in which small cap stocks led the broader markets on the way down during the year ended March 31, 2009, small cap stocks led the markets higher during the year ended March 31, 2010. The perceived tendency of small cap stocks to out-perform larger capitalization companies during the initial recovery phases of a bull market and their relative underperformance in recessions and bear markets is tied to many investors’ views that small cap stocks are more sensitive to the changing economic conditions than large capitalization stocks. This general tendency was played out during the period as many small cap stocks saw significant relative gains.

On a regional basis, the WisdomTree Emerging Markets SmallCap Fund (DGS) was the Trust’s second best performing Fund over the period, with the emerging market nations leading the global recovery. Consistent with that small cap theme, WisdomTree’s International SmallCap Dividend Fund (DLS) significantly out-performed the International LargeCap Dividend Fund (DOL).

The Japanese equity markets lagged the broader international markets, as Japan was one of the worst performing equity markets in the developed world. Japanese companies were plagued by the strength of the Japanese yen, which hurt exports and the competitiveness of Japanese companies.

WisdomTree’s international fund with the lowest performance in the period was the International Utilities Sector Fund (DBU). Utilities are viewed as being less cyclical and less tied to a global economic recovery, so these stocks typically lag the market during strong up trends.

Of WisdomTree’s four international sector funds, two dramatically out-performed the broad international markets. The two sectors that out-performed were international real estate and basic materials, while international energy and utilities companies lagged the broader international market. Real estate and materials stocks declined more during the downturn, and correspondingly reversed and sprang back up more in the upturn. Stagnating profits in the energy sector caused investors to become less enthusiastic about this sector.

The views expressed in this report reflect those of WisdomTree Asset Management only through the end of the period of the report as stated on the cover. The portfolio managers’ views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Past performance is no guarantee of future results.

Fund returns are shown at NAV. Please see Performance Summaries on the subsequent pages for more complete performance information. Please see pages 27-29 for the list of index descriptions.

Fund performance assumes reinvestment of dividends and capital gain distributions. An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results. For the most recent month end performance information visit www.wisdomtree.com.

 

WisdomTree International Dividend and Sector Funds		3

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Performance Summary (unaudited)

WisdomTree DEFA Fund (DWM)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BP PLC		2.4%
HSBC Holdings PLC		1.6%
Banco Santander S.A.		1.6%
TOTAL S.A.		1.5%
Vodafone Group PLC		1.4%
ENI SpA		1.4%
China Mobile Ltd.		1.3%
Telefonica S.A.		1.3%
Nestle S.A.		1.3%
Novartis AG		1.2%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Dividend Index of Europe, Far East Asia and Australasia (DEFA) Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Dividend Index of Europe, Far East Asia and Australasia (WisdomTree DEFA Index). The Fund currently seeks to achieve its investment objective by investing substantially all of its assets directly in the stocks that make up its underlying index.

The WisdomTree DEFA Fund (Ticker Symbol: DWM) returned 51.43% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). For much of the period, the Fund operated as a “fund of funds” comprised of three WisdomTree ETFs: WisdomTree Europe Total Dividend Fund (DEB), WisdomTree Pacific ex-Japan Total Dividend Fund (DND) and the WisdomTree Japan Total Dividend Fund (DXJ). The fund of funds structure was unwound at the end of January, 2010. The Fund now holds individual securities. The Fund benefited from an underweighted position to Japan, which had below average return. This underweighting had a notable contribution to performance. The Untied Kingdom created drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.48%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree DEFA Index			MSCI EAFE Index
One Year		51.43	%		51.83	%		52.90	%		54.44	%
Three Year		-6.98	%		-7.12	%		-6.38	%		-7.02	%
Since Inception1		0.99	%		1.01	%		1.74	%		0.22	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The Investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

4		WisdomTree International Dividend and Sector Funds

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Performance Summary (unaudited)

WisdomTree DEFA Equity Income Fund (DTH)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BP PLC		4.1%
HSBC Holdings PLC		2.7%
TOTAL S.A.		2.7%
Banco Santander S.A.		2.5%
Vodafone Group PLC		2.4%
ENI SpA		2.3%
Telefonica S.A.		2.3%
Novartis AG		2.1%
Royal Dutch Shell PLC Class A		1.9%
Deutsche Telekom AG		1.8%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree DEFA Equity Income Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree DEFA Equity Income Index.

The WisdomTree DEFA Equity Income Fund (Ticker Symbol: DTH) returned 53.57% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Japan, which lagged international peers. This underweighting had a significant contribution to positive Fund performance. The United Kingdom created a drag on performance and an overweight to Italy, which underperformed its peers, also created a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs. NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree DEFA Equity Income Index			MSCI EAFE Value Index
One Year		53.57	%		52.85	%		54.86	%		58.52	%
Three Year		-8.23	%		-8.68	%		-7.52	%		-8.40	%
Since Inception1		-0.20	%		-0.46	%		0.89	%		-0.65	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		5

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Performance Summary (unaudited)

WisdomTree Global Equity Income Fund (DEW)

(Formerly, WisdomTree Europe Equity Income Fund)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
General Electric Co.		3.7%
BP PLC		2.2%
AT&T, Inc.		2.0%
Bank of America Corp.		1.9%
Pfizer, Inc.		1.7%
TOTAL S.A.		1.5%
BCE, Inc.		1.5%
Banco Santander S.A.		1.5%
HSBC Holdings PLC		1.4%
Vodafone Group PLC		1.3%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Global Equity Income Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Global High-Yielding Equity Index. The Global High-Yielding Equity Index is a fundamentally weighted index that measures the performance of high dividend-yielding companies in the U.S., developed and emerging markets. Prior to June 19, 2009, the Fund was known as the WisdomTree Europe Equity Income Fund and had a different investment objective. Between June 19, 2009 and January 28, 2010, the Fund operated as a “fund of funds.” During this period, the Fund attempted to achieve its investment objective by investing in other WisdomTree Funds whose underlying securities are included in the Global High-Yielding Equity Index. The Fund of Funds structure was discontinued at the end of January 2010. The Fund now holds individual securities. The Fund currently seeks to achieve its investment objective by investing substantially all of its assets directly in the stocks that make up its underlying index.

The WisdomTree Global Equity Income Fund (Ticker Symbol: DEW) returned 62.13% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund was previously comprised of three Wisdom Tree ETFs; Emerging Markets Equity Income Fund (DEM), DEFA Equity Income Fund (DTH) and Equity Income Fund (DHS). The Fund benefited from an underweighted position to the United States, which had below average return. This underweighting had a notable contribution to performance. Germany had below average return; the overweight position in the country contributed a notable to drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			Spliced WisdomTree Index1			Spliced Cap-Weighted Benchmark Index2
One Year		62.13	%		61.75	%		62.60	%		67.94	%
Three Year		-8.29	%		-8.40	%		-8.04	%		-9.46	%
Since Inception3		-0.46	%		-0.62	%		0.08	%		-1.16	%

1	WisdomTree Europe Equity Income Index through June 19, 2009; WisdomTree Global Equity Income Index thereafter.

2	MSCI Europe Value Index through June 19, 2009; MSCI AC World Index thereafter.

3	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

6		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree Europe SmallCap Dividend Fund (DFE)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Euronav N.V.		2.3%
Electrocomponents PLC		1.8%
Uponor Oyj		1.4%
Intermediate Capital Group PLC		1.3%
Melrose PLC		1.3%
DS Smith PLC		1.2%
KappAhl AB		1.2%
Fabege AB		1.1%
Veidekke ASA		1.1%
Tieto Oyj		1.0%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Europe SmallCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Europe SmallCap Dividend Index.

The WisdomTree Europe SmallCap Dividend Fund (Ticker Symbol: DFE) returned 74.18% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to France, which lagged international peers. This underweighting had a notable contribution to positive Fund performance. Spain also underperformed and contributed to a drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Europe SmallCap Dividend Index			MSCI Europe SmallCap Index
One Year		74.18	%		73.13	%		76.16	%		82.91	%
Three Year		-12.39	%		-12.70	%		-12.21	%		-9.12	%
Since Inception1		-1.55	%		-2.01	%		-1.35	%		1.48	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		7

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Table of Contents

Performance Summary (unaudited)

WisdomTree Japan Total Dividend Fund (DXJ)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Toyota Motor Corp.		3.8%
NTT DoCoMo, Inc.		3.7%
Nippon Telegraph & Telephone Corp.		3.1%
Honda Motor Co., Ltd.		3.0%
Canon, Inc.		3.0%
Takeda Pharmaceutical Co., Ltd.		2.3%
Mitsubishi UFJ Financial Group, Inc.		2.0%
Mitsubishi Corp.		1.9%
Mizuho Financial Group, Inc.		1.4%
Panasonic Corp.		1.3%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Japan Total Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Japan Dividend Index. Effective as of the close of business on April 1, 2010, the WisdomTree Japan Total Dividend Fund will be renamed the WisdomTree Japan Hedged Equity Fund. The Fund will continue to be a Japan “total market” fund, but will now also seek to hedge against fluctuations between the value of the Japanese yen and the U.S. dollar.

The WisdomTree Japan Total Dividend Fund (Ticker Symbol: DXJ) returned 33.33% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweight position to Energy, which had above average returns and had a contribution to positive Fund performance. Telecommunications Services created a significant drag on returns over the period.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.48%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Japan Dividend Index			MSCI Japan Index
One Year		33.33	%		30.06	%		33.78	%		37.87	%
Three Year		-8.26	%		-8.21	%		-8.50	%		-9.03	%
Since Inception1		-3.38	%		-3.20	%		-3.50	%		-4.23	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

8		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree World ex-U.S. Growth Fund (DNL)

(Formerly, WisdomTree Japan Equity Income Fund)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BP PLC		11.8%
Royal Dutch Shell PLC Class A		5.3%
Royal Dutch Shell PLC Class B		4.5%
BHP Billiton Ltd.		4.2%
CNOOC Ltd.		3.3%
AstraZeneca PLC		2.8%
Petroleo Brasileiro S.A.		2.7%
BHP Billiton PLC		2.6%
Hennes & Mauritz AB Class B		2.5%
Inditex S.A.		2.1%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree World ex-U.S. Growth Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree World ex-U.S. Growth Index. This Index is a fundamentally weighted index that measures the performance of growth companies in the developed and emerging markets outside of the United States. Effective June 19, 2009, the WisdomTree Japan Equity Income Fund changed its investment objective and was renamed the WisdomTree World ex-U.S. Growth Fund.

The WisdomTree World ex-U.S. Growth Fund (Ticker Symbol: DNL) returned 46.04% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Materials, which had above average returns and had a notable contribution to positive Fund performance. Utilities stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			Spliced WisdomTree Index1			Spliced Cap-Weighted Benchmark Index2
One Year		46.04	%		42.86	%		46.84	%		58.32	%
Three Year		-3.15	%		-3.30	%		-2.89	%		-2.04	%
Since Inception3		2.13	%		2.21	%		2.47	%		3.12	%

1	WisdomTree Japan Equity Income Index through June 19, 2009; WisdomTree World ex-U.S. Growth Index thereafter.

2	MSCI Japan Value Index through June 19, 2009; MSCI AC World ex-U.S.A. Growth Index thereafter.

3	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		9

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Table of Contents

Performance Summary (unaudited)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

 

Sector Breakdown† as of 3/31/10‡

 

 

†	The Fund’s sector breakdown is expressed as a percentage of total investments and may change over time.

 

‡	A sector may be comprised of several industries.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Hitachi Koki Co., Ltd.		1.0%
Yokogawa Electric Corp.		1.0%
Takefuji Corp.		0.9%
DIC Corp.		0.9%
Onward Holdings Co., Ltd.		0.8%
Denki Kagaku Kogyo KK		0.8%
Yaskawa Electric Corp.		0.8%
Nippon Kayaku Co., Ltd.		0.8%
NHK Spring Co., Ltd.		0.8%
Nidec Sankyo Corp.		0.8%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Japan SmallCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Japan SmallCap Dividend Index.

The WisdomTree Japan SmallCap Dividend Fund (Ticker Symbol: DFJ) returned 34.37% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Utilities, which had below average returns. This underweighting had a notable contribution to positive Fund performance. Consumer Staples stocks had below average returns and an overweight position in the sector contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Japan SmallCap Dividend Index			MSCI Japan SmallCap Index
One Year		34.37	%		32.79	%		36.47	%		34.24	%
Three Year		-6.02	%		-5.99	%		-5.63	%		-7.97	%
Since Inception1		-3.97	%		-3.56	%		-3.50	%		-5.97	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The Investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

10		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree Pacific ex-Japan Total Dividend Fund (DND)

 

Country Breakdown † as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
China Mobile Ltd.		7.9%
Commonwealth Bank of Australia		6.1%
BHP Billiton Ltd.		4.9%
Westpac Banking Corp.		4.7%
Australia & New Zealand Banking Group Ltd.		4.4%
National Australia Bank Ltd.		4.4%
CNOOC Ltd.		4.0%
Telstra Corp., Ltd.		3.3%
Wesfarmers Ltd.		2.5%
Hang Seng Bank Ltd.		1.9%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Pacific ex-Japan Total Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Pacific ex-Japan Dividend Index.

The WisdomTree Pacific ex-Japan Total Dividend Fund (Ticker Symbol: DND) returned 70.97% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, Please see below). Australia contributed modestly to positive returns. Hong Kong and Singapore contributed to a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.48%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Pacific ex-Japan Dividend Index			MSCI Pacific ex-Japan Index
One Year		70.97	%		69.38	%		73.87	%		82.20	%
Three Year		2.66	%		2.31	%		3.99	%		2.40	%
Since Inception1		10.90	%		10.83	%		12.20	%		10.10	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an Investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		11

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Table of Contents

Performance Summary (unaudited)

WisdomTree Pacific ex-Japan Equity Income Fund (DNH)

 

Country Breakdown † as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Commonwealth Bank of Australia		10.3%
Australia & New Zealand Banking Group Ltd.		9.3%
National Australia Bank Ltd.		8.2%
Wesfarmers Ltd.		7.6%
Telstra Corp. Ltd.		6.0%
QBE Insurance Group Ltd.		4.1%
Singapore Airlines Ltd.		3.3%
Suncorp-Metway Ltd.		3.2%
AMP Ltd.		3.1%
Leighton Holdings Ltd.		2.5%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Pacific ex-Japan Equity Income Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Pacific ex-Japan Equity Income Index.

The WisdomTree Pacific ex-Japan Equity Income Fund (Ticker Symbol: DNH) returned 93.79% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Australia, which had higher returns than its regional peers and had a significant contribution to positive Fund performance. A slight overweight to New Zealand which underperformed its regional peers created a drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFS, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Pacific ex-Japan Equity Income Index			MSCI Pacific ex-Japan Value Index
One Year		93.79	%		91.48	%		95.61	%		86.29	%
Three Year		2.27	%		1.72	%		2.91	%		0.50	%
Since Inception1		10.83	%		10.52	%		11.59	%		8.33	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

12		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree International LargeCap Dividend Fund (DOL)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BP PLC		3.3%
Banco Santander S.A.		2.2%
HSBC Holdings PLC		2.1%
Nestle S.A.		2.0%
TOTAL S.A.		2.0%
ENI SpA		1.9%
Vodafone Group PLC		1.8%
Telefonica S.A.		1.8%
China Mobile Ltd.		1.7%
Novartis AG		1.6%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree International LargeCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International LargeCap Dividend Index.

The WisdomTree International LargeCap Dividend Fund (Ticker Symbol: DOL) returned 49.56% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Japan, which lagged international peers. This underweighting had a notable contribution to positive Fund performance. The United Kingdom created a drag on performance and an overweight to Italy, which underperformed its peers, also created a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.48%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree International LargeCap Dividend Index			MSCI EAFE Index
One Year		49.56	%		48.13	%		49.87	%		54.44	%
Three Year		-6.34	%		-6.62	%		-6.40	%		-7.02	%
Since Inception1		0.94	%		0.66	%		1.30	%		0.22	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		13

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Table of Contents

Performance Summary (unaudited)

WisdomTree International Dividend ex-Financials Fund (DOO)

(Formerly, WisdomTree International Dividend Top 100 Fund)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BT Group PLC		3.5%
Telecom Italia SpA		2.5%
Portugal Telecom, SGPS, S.A.		2.4%
Sandvik AB		2.3%
Deutsche Post AG		2.1%
Vallourec S.A.		2.1%
Mediaset SpA		2.1%
Parmalat SpA		2.1%
United Utilities Group PLC		2.0%
Enel SpA		1.8%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree International Dividend ex-Financials Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International Dividend ex-Financials Index. Effective May 7, 2009, the WisdomTree International Dividend Top 100 Fund changed its investment objective and was renamed the WisdomTree International Dividend ex-Financials Fund. The WisdomTree International Dividend ex-Financials Index measures the performance of high dividend-yielding international stocks outside the financial sector.

The WisdomTree International Dividend ex-Financials Fund (Ticker Symbol: DOO) returned 56.27% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to Japan, which lagged international peers and had a significant contribution to positive Fund performance. Overweights to France and Sweden also created positive return contributions. The United Kingdom created a notable drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			Spliced WisdomTree Index1			MSCI EAFE Value Index
One Year		56.27	%		56.07	%		56.86	%		58.52	%
Three Year		-8.19	%		-8.56	%		-7.97	%		-8.40	%
Since Inception2		0.93	%		0.60	%		1.35	%		-0.65	%

1	WisdomTree International Dividend Top 100 Index through May 7, 2009; WisdomTree International Dividend ex-Financials Index thereafter.

2	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

14		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree International MidCap Dividend Fund (DIM)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Vallourec S.A.		1.2%
Suncorp-Metway Ltd.		1.0%
Mediaset SpA		1.0%
voestalpine AG		1.0%
Segro PLC		0.9%
Safran S.A.		0.8%
Telecom Italia SpA RSP		0.8%
Leighton Holdings Ltd.		0.7%
British Land Co. PLC		0.7%
Ferrovial S.A.		0.7%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree International MidCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International MidCap Dividend Index.

The WisdomTree International MidCap Dividend Fund (Ticker Symbol: DIM) returned 59.59% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). MidCap stocks in France, Sweden, and Finland contributed positively to performance. The United Kingdom, Spain and Japan contributed a drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree International MidCap Dividend Index			MSCI EAFE MidCap Index
One Year		59.59	%		57.80	%		60.93	%		57.25	%
Three Year		-6.57	%		-7.02	%		-6.85	%		-9.16	%
Since Inception1		2.68	%		2.30	%		2.70	%		-0.57	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		15

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Table of Contents

Performance Summary (unaudited)

WisdomTree International SmallCap Dividend Fund (DLS)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Bendigo and Adelaide Bank Ltd.		1.0%
Euronav N.V.		0.8%
YIT Oyj		0.7%
Aurubis AG		0.6%
West Australian Newspapers Holdings Ltd.		0.6%
Goodman Fielder Ltd.		0.6%
Orion Oyj Class B		0.6%
Electrocomponents PLC		0.6%
Challenger Financial Services Group Ltd.		0.6%
APN News & Media Ltd.		0.6%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree International SmallCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International SmallCap Dividend Index.

The WisdomTree International SmallCap Dividend Fund (Ticker Symbol: DLS) returned 66.50% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweighted position to Australia, which had higher returns than its regional peers and had a significant contribution to positive Fund performance. The Fund experienced a drag on returns from an overweight position to Japan.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree International SmallCap Dividend Index			MSCI EAFE SmallCap Index
One Year		66.50	%		65.35	%		68.85	%		70.02	%
Three Year		-7.97	%		-8.22	%		-7.43	%		-7.89	%
Since Inception1		1.40	%		1.24	%		1.74	%		0.00	%

1	Total returns are calculated based on the commencement of Fund trading on June 16, 2006.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

16		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree Emerging Markets Equity Income Fund (DEM)

 

Country Breakdown † as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Nan Ya Plastics Corp.		3.8%
Banco do Brasil S.A.		3.5%
Formosa Petrochemical Corp.		3.3%
Formosa Chemicals & Fibre Corp.		2.8%
Cia Siderurgica Nacional S.A.		2.6%
Kumba Iron Ore Ltd.		2.6%
Mechel		2.5%
China Steel Corp.		2.3%
Formosa Plastics Corp.		2.3%
Impala Platinum Holdings Ltd.		2.2%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Emerging Markets Equity Income Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets Equity Income Index.

The WisdomTree Emerging Markets Equity Income Fund (Ticker Symbol: DEM) returned 73.33% for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an underweighted position to China, which lagged its emerging markets peers. This underweighting had a notable contribution to positive Fund performance. An overweight position in Taiwan, which lagged its emerging market peers created a drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.63%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Emerging Markets Equity Income Index			MSCI Emerging Markets Index
One Year		73.33	%		72.09	%		76.16	%		81.08	%
Since Inception1		4.98	%		4.04	%		5.85	%		-2.47	%

1	Total returns are calculated based on the commencement of Fund trading on July 13, 2007.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		17

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Table of Contents

Performance Summary (unaudited)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

 

Country Breakdown † as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

 

#	Amount represents less than 0.05%.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Discount Investment Corp.		3.3%
Nan Ya Printed Circuit Board Corp.		1.7%
Ford Otomotiv Sanayi A.S.		1.4%
Lite-On Technology Corp.		1.4%
Aneka Tambang Tbk PT		1.2%
Shufersal Ltd.		1.1%
Unipetrol A.S.		1.1%
U-Ming Marine Transport Corp.		1.0%
AES Tiete S.A.		0.9%
Woolworths Holdings Ltd.		0.9%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Emerging Markets SmallCap Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets SmallCap Dividend Index.

The WisdomTree Emerging Markets SmallCap Dividend Fund (Ticker Symbol: DGS) returned 86.26% for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). The Fund benefited from an overweight position to Turkey, which outperformed its emerging market peers and had a significant contribution to positive Fund performance. The Fund was underweight India which outperformed its emerging market peers . This underweighting created a drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.63%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Emerging Markets SmallCap Dividend Index			MSCI Emerging Markets SmallCap Index
One Year		86.26	%		87.24	%		91.75	%		118.10	%
Since Inception1		-2.45	%		-2.27	%		-1.37	%		-5.57	%

1	Total returns are calculated based on the commencement of Fund trading on October 30, 2007.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

18		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree Middle East Dividend Fund (GULF)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Industries Qatar		8.7%
Maroc Telecom		8.6%
Mobile Telecommunications Co. KSC		7.2%
Qatar National Bank S.A.Q		5.3%
Qatar Telecom Q-Telephone QSC		4.4%
Orascom Construction Industries		4.0%
Ezz Steel		3.9%
Telecom Egypt		3.4%
Commercial Bank of Qatar		3.2%
National Bank of Kuwait		2.9%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree Middle East Dividend Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Middle East Dividend Index.

The WisdomTree Middle East Dividend Fund (Ticker Symbol: GULF) returned 35.25% for the year ended March 31, 2010 (for more complete performance information, please see below). Qatar performed well over the period and as an overweighted country had a notable positive contribution to performance. Oman and Jordan created drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual net expense ratio of the Fund is 0.88% and the gross expense ratio is 1.30%. The net expense ratio reflects a contractual reimbursement of 0.42%. Fund expenses are capped by contract at 0.88% through March 31, 2011.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree Middle East Dividend Index			MSCI Arabian Markets ex-Saudi Arabia Index
One Year		35.25	%		37.59	%		42.21	%		42.02	%
Since Inception1		-21.11	%		-20.57	%		-18.20	%		-25.34	%

1	Total returns are calculated based on the commencement of Fund trading on July 16, 2008.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		19

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Table of Contents

Performance Summary (unaudited)

WisdomTree International Hedged Equity Fund (HEDJ)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BP PLC		2.4%
HSBC Holdings PLC		1.6%
Banco Santander S.A.		1.5%
TOTAL S.A.		1.5%
Vodafone Group PLC		1.4%
Telefonica S.A.		1.4%
Nestle S.A.		1.3%
ENI SpA		1.3%
Novartis AG		1.2%
China Mobile Ltd.		1.2%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree International Hedged Equity Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree DEFA International Hedged Equity Index. The Fund was launched using a “fund of funds” structure in which the Fund attempted to achieve its investment objective by investing in other WisdomTree Funds whose underlying securities are included in the WisdomTree DEFA International Hedged Equity Index. As of January 28, 2010, the Fund began investing substantially all of its assets directly in securities and ceased operation as a “fund of funds”. The Fund currently seeks to achieve its investment objective by investing substantially all of its assets directly in the stocks that make up its underlying index.

The WisdomTree International Hedged Equity Fund (Ticker Symbol: HEDJ) returned 1.98% from its inception on December 31, 2009 through March 31, 2010 (for more complete performance information, please see below). The currency hedge that was placed on the Fund was profitable for the period primarily due to the decline of the Euro. The Fund benefited from an underweighted position to Japan, which had below average return. This underweighting had a notable contribution to performance. The Untied Kingdom created drag on returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Cumulative Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree DEFA International Hedged Equity Index			MSCI EAFE Local Currency Index
Since Inception1		1.98	%		2.43	%		2.68	%		4.29	%

1	Total returns are calculated based on the commencement of Fund trading on December 31, 2009.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

20		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree International Basic Materials Sector Fund (DBN)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BHP Billiton Ltd.		11.7%
BASF SE		10.7%
BHP Billiton PLC		7.4%
Rio Tinto PLC		6.3%
Rio Tinto Ltd.		3.2%
Holcim Ltd.		3.0%
Air Liquide S.A.		2.9%
Antofagasta PLC		2.9%
Lafarge S.A.		2.4%
voestalpine AG		2.2%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree International Basic Materials Sector Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International Basic Materials Sector Index.

The WisdomTree International Basic Materials Sector Fund (Ticker Symbol: DBN) returned 83.44% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). International materials stocks outperformed the broader international market. The United Kingdom, Germany and Australia were significant contributors to performance. Ireland created a drag on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree International Basic Materials Sector Index			S&P Developed ex-U.S. BMI Materials Sector Index
One Year		83.44	%		79.74	%		84.97	%		80.66	%
Three Year		-0.21	%		-0.93	%		0.47	%		N/A
Since Inception1		6.66	%		6.20	%		7.48	%		-5.97	%

1	Total returns are calculated based on the commencement of Fund trading on October 13, 2006. S&P Developed ex-U.S. Sector Index total returns are based on the index’s inception date of April 1, 2008.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		21

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Table of Contents

Performance Summary (unaudited)

WisdomTree International Energy Sector Fund (DKA)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
BP PLC		8.6%
TOTAL S.A.		7.1%
Royal Dutch Shell PLC Class A		6.7%
Statoil ASA		6.4%
ENI SpA		6.4%
CNOOC Ltd.		6.1%
Royal Dutch Shell PLC Class B		5.9%
Repsol YPF S.A.		4.5%
Saipem SpA		4.2%
Technip S.A.		4.1%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree International Energy Sector Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International Energy Sector Index.

The WisdomTree International Energy Sector Fund (Ticker Symbol: DKA) returned 37.29% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). International energy stocks underperformed the broader international market. Singapore was one of the few countries that contributed positively to performance. The United Kingdom, Spain, and Japan all created a drag on portfolio returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree International Energy Sector Index			S&P Developed ex-U.S. BMI Energy Sector Index
One Year		37.29	%		36.95	%		39.30	%		49.63	%
Three Year		-0.54	%		-0.99	%		-0.12	%		N/A
Since Inception1		2.94	%		2.48	%		3.53	%		-3.45	%

1	Total returns are calculated based on the commencement of Fund trading on October 13, 2006. S&P Developed ex-U.S Sector Index total returns are based on the index’s inception date of April 1, 2008.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

22		WisdomTree International Dividend and Sector Funds

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Table of Contents

Performance Summary (unaudited)

WisdomTree International Utilities Sector Fund (DBU)

 

Country Breakdown† as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Electricite de France		6.9%
RWE AG		6.8%
Enel SpA		6.8%
GDF Suez		6.8%
E.ON AG		6.6%
Iberdrola S.A.		6.0%
Gas Natural SDG S.A.		4.2%
National Grid PLC		3.4%
Fortum Oyj		3.3%
Snam Rete Gas SpA		2.9%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

 

The WisdomTree International Utilities Sector Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International Utilities Sector Index.

The WisdomTree International Utilities Sector Fund (Ticker Symbol: DBU) returned 26.42% at net asset value (“NAV”) for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). International utilities stocks underperformed the broader international market. Spain, the United Kingdom, and Japan had notable drags on performance.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share NAV is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree International Utilities Sector Index			S&P Developed ex-U.S. BMI Utilities Sector Index
One Year		26.42	%		25.39	%		26.65	%		28.93	%
Three Year		-6.62	%		-7.04	%		-6.28	%		N/A
Since Inception1		-0.86	%		-1.10	%		-0.44	%		-12.10	%

1	Total returns are calculated based on the commencement of Fund trading on October 13, 2006. S&P Developed ex-U.S Sector Index total returns are based on the index’s inception date of April 1, 2008.

 

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

WisdomTree International Dividend and Sector Funds		23

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Table of Contents

Performance Summary (unaudited)

WisdomTree International Real Estate Fund (DRW)

 

Country Breakdown † as of 3/31/10

 

 

†	The Fund’s country breakdown is expressed as a percentage of total investments and may change over time; does not include overnight investments in U.S. money market funds or investments of cash collateral for securities loaned.

Top Ten Holdings* as of 3/31/10

 

Description		% of Net Assets
Westfield Group		6.6%
Unibail-Rodamco SE		5.0%
Sun Hung Kai Properties Ltd.		4.8%
Gecina S.A.		4.3%
Cheung Kong (Holdings) Ltd.		3.8%
Land Securities Group PLC		2.7%
Segro PLC		2.7%
Stockland		2.5%
Hang Lung Properties Ltd.		2.1%
Klepierre		2.1%

*	The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company.

The WisdomTree International Real Estate Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree International Real Estate Index.

The WisdomTree International Real Estate Fund Ticker Symbol: (DRW) returned 74.20% for the fiscal year ended March 31, 2010 (for more complete performance information, please see below). Hong Kong, France and Singapore all contributed positively to returns over the period. Spain created a drag on the portfolio returns.

The following performance chart is provided for comparative purposes and represents the period noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The price used to calculate market price returns is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other ETFs, NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors assessments of the underlying value of a Fund’s portfolio securities.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore index returns do not reflect deductions for fees or expenses and are not available for direct investment. In comparison, the Fund’s performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or that a shareholder would pay on Fund distributions. The annual expense ratio of the Fund is 0.58%.

Performance as of 3/31/10

 

		Average Annual Total Return
		Fund Net Asset Value			Fund Market Price			WisdomTree International Real Estate Index			Dow Jones Global ex-U.S. Select Real Estate Securities Index
One Year		74.20	%		72.12	%		76.17	%		69.22	%
Since Inception1		-15.71	%		-16.12	%		-15.54	%		-17.95	%

1	Total returns are calculated based on the commencement of Fund trading on June 5, 2007.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month-end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

 

24		WisdomTree International Dividend and Sector Funds

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Table of Contents

 

				Cumulative Returns as of 3/31/10 (unaudited)
				Total Return NAV (%)									Market Price (%)
				1-Year			3-Year			Since Inception			1-Year			3-Year			Since Inception
WisdomTree DEFA Fund				51.43	%		-19.50	%		3.79	%		51.83	%		-19.87	%		3.89	%
MSCI EAFE Index				54.44	%		-19.61	%		0.82	%		54.44	%		-19.61	%		0.82	%
WisdomTree DEFA Index				52.90	%		-17.94	%		6.74	%		52.90	%		-17.94	%		6.74	%
WisdomTree DEFA Equity Income Fund				53.57	%		-22.71	%		-0.76	%		52.85	%		-23.85	%		-1.72	%
MSCI EAFE Value Index				58.52	%		-23.13	%		-2.42	%		58.52	%		-23.13	%		-2.42	%
WisdomTree DEFA Equity Income Index				54.86	%		-20.91	%		3.44	%		54.86	%		-20.91	%		3.44	%
WisdomTree Global Equity Income Fund				62.13	%		-22.86	%		-1.73	%		61.75	%		-23.13	%		-2.32	%
Spliced Cap-Weighted Index Benchmark(1)				67.94	%		-25.77	%		-4.32	%		67.94	%		-25.77	%		-4.32	%
Spliced WisdomTree Index(3)				62.60	%		-22.23	%		0.30	%		62.60	%		-22.23	%		0.30	%
WisdomTree Europe SmallCap Dividend Fund				74.18	%		-32.75	%		-5.75	%		73.13	%		-33.46	%		-7.40	%
MSCI Europe Small Cap Index				82.91	%		-24.94	%		5.74	%		82.91	%		-24.94	%		5.74	%
WT Europe SmallCap Dividend Index				76.16	%		-32.34	%		-5.01	%		76.16	%		-32.34	%		-5.01	%
WisdomTree Japan Total Dividend Fund				33.33	%		-22.80	%		-12.21	%		30.06	%		-22.67	%		-11.61	%
MSCI Japan Index				37.87	%		-24.72	%		-15.13	%		37.87	%		-24.72	%		-15.13	%
WT Japan Dividend Index				33.78	%		-23.40	%		-12.62	%		33.78	%		-23.40	%		-12.62	%
WisdomTree World ex-U.S. Growth Fund				46.04	%		-9.15	%		8.31	%		42.86	%		-9.57	%		8.64	%
Spliced Cap-Weighted Index Benchmark(2)				58.32	%		-5.99	%		12.36	%		58.32	%		-5.99	%		12.36	%
Spliced WisdomTree Index(4)				46.84	%		-8.42	%		9.70	%		46.84	%		-8.42	%		9.70	%
WisdomTree Japan SmallCap Dividend Fund				34.37	%		-17.00	%		-14.23	%		32.79	%		-16.91	%		-12.82	%
MSCI Japan Small Cap Index				34.24	%		-22.07	%		-20.83	%		34.24	%		-22.07	%		-20.83	%
WT Japan SmallCap Dividend Index				36.47	%		-15.96	%		-12.63	%		36.47	%		-15.96	%		-12.63	%
WisdomTree Pacific ex-Japan Total Dividend Fund				70.97	%		8.20	%		48.01	%		69.38	%		7.08	%		47.67	%
MSCI Pacific ex-Japan Index				82.20	%		7.39	%		44.04	%		82.20	%		7.39	%		44.04	%
WT Pacific ex-Japan Dividend Index				73.87	%		12.44	%		54.70	%		73.87	%		12.44	%		54.70	%
WisdomTree Pacific ex-Japan Equity Income Fund				93.79	%		6.96	%		47.63	%		91.48	%		5.25	%		46.08	%
MSCI Pacific ex-Japan Value Index				86.29	%		1.51	%		35.44	%		86.29	%		1.51	%		35.44	%
WT Pacific ex-Japan Equity Income Index				95.61	%		8.99	%		51.54	%		95.61	%		8.99	%		51.54	%
WisdomTree International LargeCap Dividend Fund				49.56	%		-17.83	%		3.60	%		48.13	%		-18.59	%		2.53	%
MSCI EAFE Index				54.44	%		-19.61	%		0.82	%		54.44	%		-19.61	%		0.82	%
WisdomTree International LargeCap Dividend Index				49.87	%		-17.99	%		5.04	%		49.87	%		-17.99	%		5.04	%
WisdomTree International Dividend ex-Financials Fund				56.27	%		-22.61	%		3.58	%		56.07	%		-23.55	%		2.29	%
MSCI EAFE Value Index				58.52	%		-23.13	%		-2.42	%		58.52	%		-23.13	%		-2.42	%
Spliced WisdomTree Index(5)				56.86	%		-22.06	%		5.22	%		56.86	%		-22.06	%		5.22	%
WisdomTree International MidCap Dividend Fund				59.59	%		-18.45	%		10.56	%		57.80	%		-19.60	%		8.98	%
MSCI EAFE Mid Cap Index				57.25	%		-25.05	%		-2.14	%		57.25	%		-25.05	%		-2.14	%
WisdomTree International MidCap Dividend Index				60.93	%		-19.18	%		10.63	%		60.93	%		-19.18	%		10.63	%
WisdomTree International SmallCap Dividend Fund				66.50	%		-22.05	%		5.40	%		65.35	%		-22.68	%		4.77	%
MSCI EAFE Small Cap Index				70.02	%		-21.86	%		-0.02	%		70.02	%		-21.86	%		-0.02	%
WisdomTree International SmallCap Dividend Index				68.85	%		-20.68	%		6.78	%		68.85	%		-20.68	%		6.78	%
WisdomTree Emerging Markets Equity Income Fund				73.33	%		n/a			14.13	%		72.09	%		n/a			11.37	%
MSCI Emerging Markets Index				81.08	%		n/a			-6.56	%		81.08	%		n/a			-6.56	%
WT Emerging Markets Equity Income Index				76.16	%		n/a			16.71	%		76.16	%		n/a			16.71	%
WisdomTree Emerging Markets SmallCap Dividend Fund				86.26	%		n/a			-5.81	%		87.24	%		n/a			-5.39	%
MSCI Emerging Markets Small Cap Index				118.10	%		n/a			-12.94	%		118.10	%		n/a			-12.94	%
WT Emerging Markets SmallCap Dividend Index				91.75	%		n/a			-3.29	%		91.75	%		n/a			-3.29	%
WisdomTree Middle East Dividend Fund				35.25	%		n/a			-33.28	%		37.59	%		n/a			-32.50	%
MSCI Arabian Markets ex-Saudi Arabia Index				42.02	%		n/a			-39.27	%		42.02	%		n/a			-39.27	%
WT Middle East Dividend Index				42.21	%		n/a			-29.03	%		42.21	%		n/a			-29.03	%

 

WisdomTree International Dividend and Sector Funds		25

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Table of Contents

 

				Cumulative Returns as of 3/31/10 (unaudited) (concluded)
				Total Return NAV (%)									Market Price (%)
				1-Year			3-Year			Since Inception			1-Year			3-Year			Since Inception
WisdomTree International Hedged Equity Fund				n/a			n/a			1.98	%		n/a			n/a			2.43	%
MSCI EAFE Local Currency Index				44.68	%		n/a			4.29	%		44.68	%		n/a			4.29	%
WisdomTree DEFA International Hedged Equity Index				43.59	%		n/a			2.68	%		43.59	%		n/a			2.68	%
WisdomTree International Basic Materials Sector Fund				83.44	%		-0.63	%		25.01	%		79.74	%		-2.76	%		23.14	%
S&P Developed ex-U.S. BMI Materials Sector Index*				80.66	%		n/a			-11.58	%		80.66	%		n/a			-11.58	%
WT Int’l Basic Materials Sector Index				84.97	%		1.41	%		28.39	%		84.97	%		1.41	%		28.39	%
WisdomTree International Energy Sector Fund				37.29	%		-1.61	%		10.55	%		36.95	%		-2.93	%		8.86	%
S&P Developed ex-U.S. BMI Energy Sector Index*				49.63	%		n/a			-6.78	%		49.63	%		n/a			-6.78	%
WT International Energy Sector Index				39.30	%		-0.36	%		12.76	%		39.30	%		-0.36	%		12.76	%
WisdomTree International Utilities Sector Fund				26.42	%		-18.58	%		-2.96	%		25.39	%		-19.68	%		-3.77	%
S&P Developed ex-U.S. BMI Utilities Sector Index*				28.93	%		n/a			-22.73	%		28.93	%		n/a			-22.73	%
WT International Utilities Sector Index				26.65	%		-17.69	%		-1.53	%		26.65	%		-17.69	%		-1.53	%
WisdomTree International Real Estate Fund				74.20	%		n/a			-38.25	%		72.12	%		n/a			-39.10	%
Dow Jones Global ex-U.S. Select Real Estate Securities Index				69.22	%		n/a			-42.79	%		69.22	%		n/a			-42.79	%
WT Int’l Real Estate Index				76.17	%		n/a			-37.90	%		76.17	%		n/a			-37.90	%

 

*	The inception date of the S&P Developed ex-U.S. Indexes is 4/1/08.

Performance quoted represents past performance and past performance does not guarantee future results. Current performance may be higher or lower than the performance quoted. For the most recent month end performance information visit www.wisdomtree.com. Investment in the Fund poses investment risk including the possible loss of principal. The investment return and principal value of an investment will fluctuate, so that shares, when sold or redeemed, may be worth more or less than their original cost. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period less than one year have not been annualized. Index returns do not reflect expenses paid by the Fund.

Please see pages 27 through 29 for the list of index descriptions.

 

26		WisdomTree International Dividend and Sector Funds

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Table of Contents

Description of Indexes (unaudited)

 

Below are descriptions of each index referenced in this Annual Report:

The WisdomTree Dividend Index of Europe, Far East Asia and Australasia (WisdomTree DEFA) measures the performance of dividend-paying companies in the industrialized world, excluding Canada and the United States.

The WisdomTree DEFA International Hedged Equity Index measures the performance of dividend-paying companies in the industrialized world, excluding Canada and the United States, and is designed to neutralize exposure to fluctuations between the value of the U.S. dollar and non-U.S. currencies reflected in the index. This index is based on the WisdomTree DEFA Index.

The WisdomTree DEFA Equity Income Index measures the performance of companies with high dividend yields selected from the WisdomTree DEFA Index.

The WisdomTree Global Equity Income Index measures the performance of high dividend-paying companies selected from the WisdomTree Dividend Index and the WisdomTree World ex-U.S. Index.

The WisdomTree Europe Equity Income Index measures the performance of companies with high dividend yields selected from the WisdomTree Europe Dividend Index.

The WisdomTree Europe SmallCap Dividend Index measures the performance of the small-capitalization segment of the European dividend-paying market.

The WisdomTree Japan Dividend Index measures the performance of dividend-paying companies incorporated in Japan, listed on the Tokyo Stock Exchange and that meet other requirements necessary to be included in the WisdomTree DEFA Index.

The WisdomTree World ex-U.S. Growth Index measures the stock performance of growth companies selected from developed and emerging markets outside the U.S.

The WisdomTree Japan Equity Income Index measures the performance of companies with high dividend yields selected from the WisdomTree Japan Dividend Index.

The WisdomTree Japan SmallCap Dividend Index measures the performance of dividend-paying small-capitalization companies in Japan.

The WisdomTree Pacific ex-Japan Dividend Index measures the performance of dividend-paying companies incorporated in the Pacific region, excluding Japan.

The WisdomTree Pacific ex-Japan Equity Income Index measures the performance of companies with high dividend yields selected from the WisdomTree Pacific ex-Japan Dividend Index.

The WisdomTree International LargeCap Dividend Index measures the performance of the large-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International Dividend ex-Financials Index measures the performance of high dividend-yielding international stocks outside the financial sector.

The WisdomTree International Dividend Top 100 Index measures the performance of the 100 highest dividend-yielding companies in the WisdomTree International LargeCap Dividend Index.

The WisdomTree International MidCap Dividend Index measures the performance of the mid-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International SmallCap Dividend Index measures the performance of the small-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree Emerging Markets Equity Income Index measures the performance of the highest dividend-yielding stocks selected from the WisdomTree Emerging Markets Dividend Index.

 

WisdomTree International Dividend and Sector Funds		27

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Table of Contents

Description of Terms and Indices (unaudited) (continued)

 

The WisdomTree Emerging Markets SmallCap Dividend Index measures the performance of primarily small-capitalization stocks selected from the WisdomTree Emerging Markets Dividend Index.

The WisdomTree Middle East Dividend Index measures the performance of companies in the Middle East region that pay regular cash dividends on shares of common stock and that meet specified requirements as of the index measurement date.

The WisdomTree International Sector Indexes are derived from the WisdomTree DEFA Index, and measure the performance of dividend-paying companies in developed markets outside the U.S. and Canada, within their specific international sectors.

The WisdomTree International Real Estate Index measures the performance of companies in developed markets outside of the U.S. and Canada that pay regular cash dividends and that WisdomTree Investments classifies as being part of the International Real Estate sector.

The MSCI EAFE Index is a market cap-weighted index composed of companies representative of the developed market structure of 21 developed countries in Europe, Australasia and Japan.

The MSCI EAFE Value Index measures the performance of value stocks in the MSCI EAFE Index.

The MSCI EAFE Mid Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of mid capitalization equities in the developed markets excluding the US & Canada.

The MSCI EAFE Small Cap Index measures the performance of small-capitalization stocks in the MSCI EAFE Index.

The MSCI Europe Small-Cap Index measures the performance of small-capitalization stocks in the MSCI Europe Index.

The MSCI Europe Value Index measures the performance of value stocks in the MSCI Europe Index.

The MSCI AC World Index measures the performance of the world stock market indexes covered by MSCI.

The MSCI Pacific ex-Japan Index is a subset of the MSCI EAFE Index and measures the performance of stocks in Australia, Hong Kong, Singapore and New Zealand.

The MSCI Pacific ex-Japan Value Index measures the performance of value stocks in the MSCI Pacific ex-Japan Index.

The MSCI Japan Index is a capitalization weighted index that monitors the performance of stocks in Japan.

The MSCI Japan Value Index measures the performance of value stocks in the MSCI Japan Index.

The MSCI AC World ex-USA Growth Index measures the performance of growth stocks in the developed and emerging markets covered by MSCI excluding the U.S.

The MSCI Japan Small Cap Index measures the performance of small cap stocks in the MSCI Japan Index.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure emerging markets equity performance.

The MSCI Emerging Markets Small Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of small capitalization equities in the emerging markets.

The MSCI Arabian Markets ex Saudi Arabia Index is a free float-adjusted market capitalization index that is designed to measure the performance of stocks in the Gulf Cooperation Council (GCC) countries and the neighboring region: the United Arab Emirates, Kuwait, Qatar, Bahrain, Oman, Egypt, Jordan, and Morocco.

 

28		WisdomTree International Dividend and Sector Funds

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Table of Contents

Description of Terms and Indices (unaudited) (concluded)

 

The S&P Developed ex-U.S. BMI Sector Indexes are indexes that track specific sectors of developed global markets outside the United States.

The Dow Jones Global ex-U.S. Select Real Estate Securities Index is designed to provide measures of real estate securities that serve as proxies for direct real estate investing in the international markets and is weighted by float-adjusted market cap.

 

1	Spliced Cap-Weighted Index — MSCI Europe Value Index through June 19, 2009, MSCI AC World Index thereafter.

 

2	Spliced Cap-Weighted Index — MSCI Japan Value Index through June 19, 2009, MSCI AC World ex-USA Growth Index thereafter.

 

3	Spliced WisdomTree Index — WisdomTree Europe Equity Income Index through June 19, 2009; WisdomTree Global Equity Income Index thereafter.

 

4	Spliced WisdomTree Index — WisdomTree Japan Equity Income Index through June 19, 2009; WisdomTree World ex-U.S. Growth Index thereafter.

 

5	Spliced WisdomTree Index — WisdomTree International Dividend Top 100 Index through May 7, 2009; WisdomTree International Dividend ex-Financials Index thereafter.

Index performance information assumes the reinvestment of gross dividends and excludes management fees, transaction costs and expenses. You cannot directly invest in an index.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

 

WisdomTree International Dividend and Sector Funds		29

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Table of Contents

Shareholder Expense Examples (unaudited)

 

As a shareholder of a WisdomTree Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The following example is intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2009 to March 31, 2010.

Actual expenses

The first line under each Fund in the table on the next page provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During Period 10/01/09 to 3/31/10” to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes

The second line under each Fund in the table on the next page provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line under each Fund in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

30		WisdomTree International Dividend and Sector Funds

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Table of Contents

Shareholder Expense Examples (unaudited) (continued)

 

		Beginning Account Value 10/01/2009			Ending Account Value 3/31/10			Annualized Expense Ratio Based on the Period 10/01/09 to 3/31/10			Expenses Paid During the Period† 10/01/09 to 3/31/10
WisdomTree DEFA Fund
Actual		$	1,000.00		$	1,014.00		0.17	%**		$	0.84
Hypothetical (5% return before expenses)		$	1,000.00		$	1,024.10		0.17	%**		$	0.84
WisdomTree DEFA Equity Income Fund
Actual		$	1,000.00		$	995.24		0.58	%		$	2.91
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.02		0.58	%		$	2.95
WisdomTree Global Equity Income Fund
Actual		$	1,000.00		$	1,039.15		0.25	%**		$	1.29
Hypothetical (5% return before expenses)		$	1,000.00		$	1,023.67		0.25	%**		$	1.28
WisdomTree Europe SmallCap Dividend Fund
Actual		$	1,000.00		$	1,031.36		0.58	%		$	2.96
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.02		0.58	%		$	2.95
WisdomTree Japan Total Dividend Fund
Actual		$	1,000.00		$	1,036.14		0.48	%		$	2.46
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.52		0.48	%		$	2.44
WisdomTree World ex-U.S. Growth Fund
Actual		$	1,000.00		$	1,115.42		0.58	%***		$	3.05
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.05		0.58	%		$	2.91
WisdomTree Japan SmallCap Dividend Fund
Actual		$	1,000.00		$	1,001.71		0.58	%		$	2.92
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.02		0.58	%		$	2.95
WisdomTree Pacific ex-Japan Total Dividend Fund
Actual		$	1,000.00		$	1,067.31		0.48	%		$	2.50
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.52		0.48	%		$	2.44
WisdomTree Pacific ex-Japan Equity Income Fund
Actual		$	1,000.00		$	1,074.17		0.58	%		$	3.02
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.02		0.58	%		$	2.95
WisdomTree International LargeCap Dividend Fund
Actual		$	1,000.00		$	1,014.26		0.48	%		$	2.43
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.52		0.48	%		$	2.44
WisdomTree International Dividend ex-Financials Fund
Actual		$	1,000.00		$	1,020.84		0.58	%		$	2.94
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.02		0.58	%		$	2.95
WisdomTree International MidCap Dividend Fund
Actual		$	1,000.00		$	1,028.56		0.58	%		$	2.96
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.02		0.58	%		$	2.95
WisdomTree International SmallCap Dividend Fund
Actual		$	1,000.00		$	1,057.92		0.58	%		$	3.00
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.02		0.58	%		$	2.95
WisdomTree Emerging Markets Equity Income Fund
Actual		$	1,000.00		$	1,116.30		0.63	%		$	3.35
Hypothetical (5% return before expenses)		$	1,000.00		$	1,021.77		0.63	%		$	3.20
WisdomTree Emerging Markets SmallCap Dividend Fund
Actual		$	1,000.00		$	1,128.15		0.63	%***		$	3.34
Hypothetical (5% return before expenses)		$	1,000.00		$	1,021.79		0.63	%		$	3.17

 

WisdomTree International Dividend and Sector Funds		31

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Table of Contents

Shareholder Expense Examples (unaudited) (concluded)

 

		Beginning Account Value 10/01/2009			Ending Account Value 3/31/10			Annualized Expense Ratio Based on the Period 10/01/09 to 3/31/10			Expenses Paid During the Period† 10/01/09 to 3/31/10
WisdomTree Middle East Dividend Fund
Actual		$	1,000.00		$	1,006.05		0.88	%		$	4.42
Hypothetical (5% return before expenses)		$	1,000.00		$	1,020.52		0.88	%		$	4.46
WisdomTree International Hedged Equity Fund*
Actual		$	1,000.00		$	1,019.79		0.47	%**		$	1.18
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.60		0.47	%**		$	2.35
WisdomTree International Basic Materials Sector Fund
Actual		$	1,000.00		$	1,144.74		0.58	%		$	3.10
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.04		0.58	%		$	2.92
WisdomTree International Energy Sector Fund
Actual		$	1,000.00		$	989.34		0.58	%		$	2.88
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.04		0.58	%		$	2.92
WisdomTree International Utilities Sector Fund
Actual		$	1,000.00		$	953.38		0.58	%		$	2.82
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.04		0.58	%		$	2.92
WisdomTree International Real Estate Fund
Actual		$	1,000.00		$	1,003.98		0.58	%		$	2.90
Hypothetical (5% return before expenses)		$	1,000.00		$	1,022.04		0.58	%		$	2.92

†	Expenses are calculated using each Fund’s annualized expense ratio, multiplied by the average account value for the period, multiplied by 182/365 (to reflect one-half year period) except for actual return information which reflects the 91 day period for WisdomTree International Hedged Equity Fund.

 

*	Commencement of investment operations for the International Hedged Equity Fund is December 31, 2009.

 

**	Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the underlying funds that were paid indirectly by the Fund during the period when the Fund operated as a “fund of funds.”

 

***	Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the India Earnings Fund that are paid indirectly by the Fund. The Fund invests a portion of its assets in the WisdomTree India Earnings Fund in order to achieve exposure to securities in India.

 

32		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree DEFA Fund (DWM)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.0%
Australia – 9.3%
AGL Energy Ltd.		28,766		$	396,835
Amcor Ltd.		72,681			426,278
AMP Ltd.		140,469			807,098
APN News & Media Ltd.		64,259			136,244
Aristocrat Leisure Ltd.		65,165			270,947
Australia & New Zealand Banking Group Ltd.		137,087			3,190,929
AXA Asia Pacific Holdings Ltd.		82,082			476,142
Bank of Queensland Ltd.		4,232			45,796
Bendigo and Adelaide Bank Ltd.		38,753			355,694
BHP Billiton Ltd.		88,956			3,559,047
BlueScope Steel Ltd.*		126,618			338,189
Boral Ltd.		49,244			253,564
Brambles Ltd.		96,881			654,467
Coca-Cola Amatil Ltd.		36,722			379,184
Commonwealth Bank of Australia		85,018			4,392,520
Computershare Ltd.		28,104			322,957
Crown Ltd.		53,627			402,632
CSL Ltd.		10,471			350,122
CSR Ltd.		163,232			247,956
David Jones Ltd.		40,250			175,481
Downer EDI Ltd.		37,566			260,668
Fairfax Media Ltd.		264,056			436,255
Foster’s Group Ltd.		95,328			462,858
Goodman Fielder Ltd.		183,583			240,957
Harvey Norman Holdings Ltd.		60,606			201,371
Incitec Pivot Ltd.		140,099			446,207
Insurance Australia Group Ltd.		69,829			248,679
Leighton Holdings Ltd.		20,189			722,688
Lend Lease Group(a)		86,933			690,994
Macquarie Group Ltd.		15,101			654,906
Metcash Ltd.		70,986			269,740
National Australia Bank Ltd.		125,791			3,177,383
OneSteel Ltd.		95,092			340,393
Orica Ltd.		17,023			418,582
Origin Energy Ltd.		31,097			472,376
QBE Insurance Group Ltd.		55,017			1,051,860
Rio Tinto Ltd.		13,246			953,174
Santos Ltd.		21,739			292,513
Sims Metal Management Ltd.		10,175			202,285
Sonic Healthcare Ltd.		31,715			418,305
Suncorp-Metway Ltd.		110,117			863,145
TABCORP Holdings Ltd.		41,615			263,555
Telstra Corp., Ltd.		866,480			2,377,942
Toll Holdings Ltd.		40,672			276,994
Wesfarmers Ltd.		62,429			1,821,581
Westpac Banking Corp.		133,933			3,422,381
Woodside Petroleum Ltd.		22,245			957,584
Woolworths Ltd.		37,667			968,034
WorleyParsons Ltd.		11,853			276,878
Total Australia					40,372,370

Investments		Shares		Value
Austria – 0.9%
Bank Austria Creditanstalt AG*(b)		3,774		$	—
Erste Group Bank AG		20,141			847,561
OMV AG		18,167			682,881
Telekom Austria AG		46,890			656,675
Verbund-Oesterreichische Elektrizitaetswirtschafts AG Class A*		13,300			528,909
voestalpine AG		30,681			1,243,358
Total Austria					3,959,384
Belgium – 1.1%
Anheuser-Busch InBev N.V.		21,688			1,094,460
Belgacom S.A.		32,876			1,286,492
Mobistar S.A.		11,144			687,072
Solvay S.A.		7,787			801,939
UCB S.A.		18,212			779,077
Total Belgium					4,649,040
Denmark – 0.3%
Novo Nordisk A/S Class B		19,820			1,540,743
Finland – 1.7%
Fortum Oyj		48,694			1,193,228
Kone Oyj Class B		18,855			780,688
Neste Oil Oyj*		45,972			803,063
Nokia Oyj		124,796			1,946,972
Rautaruukki Oyj		28,530			617,663
Sampo Oyj Class A		43,613			1,159,010
UPM–Kymmene Oyj		56,693			753,688
Total Finland					7,254,312
France – 13.1%
Accor S.A.		19,131			1,060,296
Aeroports de Paris		6,425			529,966
Air Liquide S.A.		7,291			876,841
Alstom S.A.		6,525			407,634
AXA S.A.		56,117			1,250,598
BNP Paribas		18,815			1,447,574
Bourbon S.A.		7,497			324,665
Bouygues S.A.		27,202			1,369,957
Carrefour S.A.		17,134			827,321
Casino Guichard Perrachon S.A.		9,709			823,048
Christian Dior S.A.		9,282			991,947
CNP Assurances		6,783			641,731
Compagnie de Saint-Gobain		32,843			1,582,058
Credit Agricole S.A.		93,383			1,637,580
Danone		17,058			1,029,420
Electricite de France		50,279			2,748,512
France Telecom S.A.		171,501			4,110,906
GDF Suez		87,376			3,381,333
ICADE		4,962			553,307
Klepierre		20,015			787,553
Lafarge S.A.		13,635			961,220
Lagardere SCA		13,269			537,910
Legrand S.A.		32,619			1,032,359
L’Oreal S.A.		9,623			1,013,805

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		33

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Table of Contents

Schedule of Investments (continued)

WisdomTree DEFA Fund (DWM)

March 31, 2010

  

 

 

Investments		Shares		Value
LVMH Moet Hennessy Louis Vuitton S.A.		12,794		$	1,498,142
Neopost S.A.		7,708			617,125
PagesJaunes Groupe		53,026			610,014
Pernod-Ricard S.A.		10,344			879,957
PPR		9,989			1,332,283
Safran S.A.		46,385			1,211,336
Sanofi-Aventis S.A.		51,404			3,838,725
Schneider Electric S.A.		15,778			1,853,965
Societe Generale		17,421			1,097,646
Sodexo		12,703			760,588
Suez Environnement S.A.		36,160			833,734
Thales S.A.		13,276			533,883
TOTAL S.A.		110,851			6,446,674
Vallourec S.A.		6,425			1,297,964
Veolia Environnement		29,273			1,017,166
Vinci S.A.		22,191			1,310,212
Vivendi S.A.		73,551			1,972,025
Total France					57,038,980
Germany – 8.0%
Allianz SE		21,404			2,688,518
BASF SE		55,382			3,441,123
Bayer AG		25,270			1,712,377
Bayerische Motoren Werke AG		11,154			515,861
Beiersdorf AG		10,709			641,705
Deutsche Bank AG		8,934			689,412
Deutsche Boerse AG		9,856			731,888
Deutsche Post AG		77,463			1,346,350
Deutsche Telekom AG		352,830			4,790,850
E.ON AG		93,177			3,446,335
Fresenius Medical Care AG & Co. KGaA		16,596			938,101
K+S AG		10,169			618,222
Linde AG		6,500			776,963
MAN SE		9,138			766,359
Merck KGAA		7,850			637,310
Metro AG		12,426			738,454
Muenchener Rueckversicherungs AG		11,360			1,846,851
RWE AG		32,839			2,914,899
SAP AG		32,056			1,555,426
Siemens AG		24,846			2,492,857
ThyssenKrupp AG		43,208			1,488,219
Volkswagen AG		2,278			220,389
Total Germany					34,998,469
Hong Kong – 4.8%
Cheung Kong (Holdings) Ltd.		65,000			837,122
China Merchants Holdings International Co., Ltd.		108,000			397,800
China Mobile Ltd.		598,500			5,757,846
China Overseas Land & Investment Ltd.		134,000			302,698
China Resources Enterprise		108,000			401,278
China Unicom Hong Kong Ltd.		480,000			540,291
CLP Holdings Ltd.		103,000			736,217
CNOOC Ltd.		1,748,300			2,877,545
Hang Lung Group Ltd.		68,000			360,812
Hang Lung Properties Ltd.		175,000			705,436

Investments		Shares		Value
Hang Seng Bank Ltd.		97,500		$	1,358,649
Henderson Land Development Co., Ltd.		75,000			528,353
Hong Kong & China Gas Co., Ltd.		162,000			403,920
Hong Kong Exchanges and Clearing Ltd.		39,300			655,953
Hongkong Electric Holdings Ltd.		93,000			551,554
Hutchison Whampoa Ltd.		132,000			965,601
MTR Corp.		78,000			295,337
New World Development Ltd.		148,000			289,721
Shanghai Industrial Holdings Ltd.		58,000			265,921
Sino Land Co., Ltd.		210,000			411,632
Sinotrans Shipping Ltd.		488,500			233,407
Sun Hung Kai Properties Ltd.		66,000			992,801
Television Broadcasts Ltd.		45,000			217,909
Wharf Holdings Ltd.		136,000			766,289
Total Hong Kong					20,854,092
Ireland – 0.2%
CRH PLC		28,701			717,676
Italy – 4.8%
A2A SpA		325,065			610,945
Atlantia SpA		36,706			858,244
Edison SpA		434,091			662,551
Enel SpA		676,911			3,791,941
ENI SpA		250,589			5,889,678
Finmeccanica SpA		48,186			644,180
Mediaset SpA		160,962			1,385,193
Mediobanca SpA*		91,306			982,809
Parmalat SpA		288,577			791,685
Saipem SpA		32,193			1,248,003
Snam Rete Gas SpA		180,339			915,672
Telecom Italia SpA		725,110			1,045,902
Telecom Italia SpA RSP		793,456			896,477
Terna Rete Elettrica Nazionale SpA		172,634			748,075
Unione di Banche Italiane SCPA		40,516			547,674
Total Italy					21,019,029
Japan – 12.6%
ACOM Co., Ltd.		5,530			90,549
Advan Co., Ltd.		7,300			51,719
Advantest Corp.		5,200			130,111
Aeon Co., Ltd.		16,100			182,814
Aeon Credit Service Co., Ltd.		5,500			65,336
Aichi Corp.		4,100			17,771
Aisin Seiki Co., Ltd.		8,100			242,723
Ajinomoto Co., Inc.		24,000			237,842
Amada Co., Ltd.		25,000			209,760
Asahi Breweries Ltd.		12,500			234,509
Asahi Glass Co., Ltd.		34,000			383,155
Asahi Kasei Corp.		34,000			183,027
Astellas Pharma, Inc.		13,300			481,812
Bank of Yokohama Ltd. (The)		21,000			102,932
Belluna Co., Ltd.		3,750			15,933
Bridgestone Corp.		18,400			314,281
Brother Industries Ltd.		13,400			162,051
Canon Marketing Japan, Inc.		15,800			215,255

 

See Notes to Financial Statements.

 

34		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree DEFA Fund (DWM)

March 31, 2010

  

 

 

Investments		Shares		Value
Canon, Inc.		35,200		$	1,631,164
Casio Computer Co., Ltd.		10,900			83,873
Chiba Bank Ltd. (The)		26,000			155,544
Chiyoda Integre Co., Ltd.		7,700			103,831
Chubu Electric Power Co., Inc.		15,700			392,668
Chuetsu Pulp & Paper Co., Ltd.		7,000			12,586
Chugai Pharmaceutical Co., Ltd.		10,500			197,549
Chugoku Electric Power Co., Inc. (The)		10,600			210,775
Chuo Mitsui Trust Holdings, Inc.		51,000			191,577
Citizen Holdings Co., Ltd.		2,000			13,677
CKD Corp.		2,900			24,270
Coca-Cola West Co., Ltd.		10,000			163,634
Cosmo Oil Co., Ltd.		33,000			79,816
Credit Saison Co., Ltd.		5,200			80,693
Dai Nippon Printing Co., Ltd.		22,000			297,367
Daiichi Sankyo Co., Ltd.		29,400			550,935
Daikin Industries Ltd.		3,400			139,180
Daikoku Denki Co., Ltd.		1,000			17,616
Dainippon Sumitomo Pharma Co., Ltd.		16,900			155,001
Daito Trust Construction Co., Ltd.		4,700			226,851
Daiwa House Industry Co., Ltd.		27,000			304,848
Daiwa Securities Group, Inc.		7,000			36,858
DENSO Corp.		11,200			333,819
DIC Corp.		100,000			216,182
East Japan Railway Co.		3,600			250,428
Eisai Co., Ltd.		10,800			385,467
Electric Power Development Co., Ltd.		5,200			171,404
FamilyMart Co., Ltd.		5,200			165,561
Fanuc Ltd.		2,600			276,027
Fast Retailing Co., Ltd.		1,800			313,035
FUJIFILM Holdings Corp.		5,100			175,749
Fujitsu Ltd.		26,000			170,291
Fukuoka Financial Group, Inc.		41,500			176,322
Furukawa Electric Co., Ltd.		26,000			135,231
Hakuhodo DY Holdings, Inc.		200			10,531
Hamamatsu Photonics K.K.		7,400			209,313
Hankyu Hanshin Holdings, Inc.		27,000			125,118
Hirose Electric Co., Ltd.		800			92,295
Hiroshima Bank Ltd. (The)		44,000			186,002
Hisamitsu Pharmaceutical Co., Inc.		5,100			189,667
Hitachi Capital Corp.		7,400			105,409
Hitachi Chemical Co., Ltd.		9,900			214,020
Hitachi Construction Machinery Co., Ltd.		8,200			193,855
Hitachi High-Technologies Corp.		7,300			167,578
Hitachi Koki Co., Ltd.		11,200			120,702
Hitachi Metals Ltd.		8,000			84,161
Hokkaido Electric Power Co., Inc.		10,700			205,435
Hokuhoku Financial Group, Inc.		76,000			166,738
Hokuriku Electric Power Co.		7,400			162,825
Honda Motor Co., Ltd.		46,700			1,649,294
Honeys Co., Ltd.		3,320			28,496
HOYA CORP.		6,400			175,959
Ibiden Co., Ltd.		2,600			89,598
Idec Corp.		8,900			79,913

Investments		Shares		Value
Idemitsu Kosan Co., Ltd.		800		$	60,616
Inabata & Co., Ltd.		13,300			62,771
Isetan Mitsukoshi Holdings Ltd.		600			6,453
Ito En Ltd.		2,600			40,263
ITOCHU Corp.		49,000			429,484
Itochu Techno-Solutions Corp.		5,000			164,277
Izumi Co., Ltd.		600			7,872
Japan Steel Works Ltd. (The)		8,000			91,695
Japan Tobacco, Inc.		135			502,783
JFE Holdings, Inc.		13,100			527,841
JGC Corp.		8,000			142,808
Joyo Bank Ltd. (The)		34,000			151,734
JS Group Corp.		13,100			266,795
JSR Corp.		9,900			206,921
JTEKT Corp.		600			7,089
Kajima Corp.		51,000			124,989
Kaneka Corp.		25,000			162,136
Kansai Electric Power Co., Inc. (The)		20,800			476,815
Kao Corp.		15,100			382,994
Kawasaki Heavy Industries Ltd.		33,000			91,117
KDDI Corp.		95			492,080
Kintetsu Corp.		34,000			105,886
Kirin Holdings Co., Ltd.		18,000			265,646
Kokuyo Co., Ltd.		600			5,002
Komatsu Ltd.		23,100			484,546
Konami Corp.		7,300			140,859
Konica Minolta Holdings, Inc.		13,000			151,787
Kubota Corp.		25,000			227,954
Kuraray Co., Ltd.		13,500			181,753
Kurita Water Industries Ltd.		3,400			96,244
Kyocera Corp.		2,500			243,739
Kyowa Hakko Kirin Co., Ltd.		17,000			175,567
Kyushu Electric Power Co., Inc.		13,900			302,724
Lawson, Inc.		5,200			222,046
Mabuchi Motor Co., Ltd.		2,700			155,458
Makita Corp.		5,900			194,478
Marubeni Corp.		52,000			323,330
Marui Group Co., Ltd.		28,500			206,796
Matsui Securities Co., Ltd.		600			4,289
Medipal Holdings Corp.		12,200			144,536
Mitsubishi Chemical Holdings Corp.		53,400			273,172
Mitsubishi Corp.		38,700			1,014,715
Mitsubishi Estate Co., Ltd.		8,000			130,993
Mitsubishi Gas Chemical Co., Inc.		27,000			162,682
Mitsubishi Heavy Industries Ltd.		49,000			202,943
Mitsubishi Tanabe Pharma Corp.		18,000			254,281
Mitsubishi UFJ Financial Group, Inc.		211,000			1,106,485
Mitsubishi UFJ Lease & Finance Co., Ltd.		1,820			66,224
Mitsui & Co., Ltd.		37,600			632,166
Mitsui Engineering & Shipbuilding Co., Ltd.		6,000			14,961
Mitsui Fudosan Co., Ltd.		9,000			152,857
Mitsui O.S.K. Lines Ltd.		52,000			373,416
Mizuho Financial Group, Inc.		390,000			772,153
MS&AD Insurance Group Holdings		13,330			370,199

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		35

---

Table of Contents

Schedule of Investments (continued)

WisdomTree DEFA Fund (DWM)

March 31, 2010

  

 

 

Investments		Shares		Value
Namco Bandai Holdings, Inc.		10,100		$	98,471
NGK Insulators Ltd.		1,000			20,409
Nikon Corp.		7,800			170,375
Nippon Electric Glass Co., Ltd.		8,000			112,757
Nippon Express Co., Ltd.		44,000			189,298
Nippon Mining Holdings, Inc.		25,000			114,913
Nippon Oil Corp.		44,000			218,022
Nippon Paper Group, Inc.		7,500			193,038
Nippon Steel Corp.		55,000			216,021
Nippon Telegraph & Telephone Corp.		41,100			1,733,027
Nippon Television Network Corp.		1,340			182,414
Nippon Yusen K.K.		51,000			201,402
Nipponkoa Insurance Co., Ltd.		17,000			105,340
Nisshin Seifun Group, Inc.		13,500			174,385
Nisshin Steel Co., Ltd.		52,000			108,519
Nissin Foods Holdings Co., Ltd.		5,200			175,021
Nitori Co., Ltd.		300			22,795
Nitto Denko Corp.		7,400			287,479
NOK Corp.		600			9,035
Nomura Real Estate Holdings, Inc.		8,900			137,348
Nomura Research Institute Ltd.		7,800			177,804
NSK Ltd.		26,000			205,351
NTN Corp.		27,000			121,939
NTT DoCoMo, Inc.		1,327			2,022,312
Obayashi Corp.		27,000			119,917
Odakyu Electric Railway Co., Ltd.		18,000			149,872
OJI Paper Co., Ltd.		43,000			188,677
Onward Holdings Co., Ltd.		17,000			132,631
Oracle Corp.		6,600			306,196
Oriental Land Co., Ltd.		2,600			181,421
Osaka Gas Co., Ltd.		51,000			182,845
Otsuka Corp.		2,500			158,926
Panasonic Corp.		46,700			714,694
Panasonic Electric Works Co., Ltd.		25,000			315,711
Park24 Co., Ltd.		16,200			165,745
Point, Inc.		60			3,596
Promise Co., Ltd.		6,500			60,311
Resona Holdings, Inc.		10,000			126,498
Ricoh Co., Ltd.		18,000			281,250
Sankei Building Co., Ltd. (The)		6,300			39,240
Sankyo Co., Ltd.		2,600			128,692
Secom Co., Ltd.		4,800			210,103
Sega Sammy Holdings, Inc.		9,800			118,724
Seikagaku Corp.		600			6,274
Seiko Epson Corp.		7,300			113,438
Sekisui Chemical Co., Ltd.		18,000			122,132
Sekisui House Ltd.		17,000			169,927
Seven & I Holdings Co., Ltd.		15,900			384,397
Sharp Corp.		24,000			300,257
Shikoku Electric Power Co., Inc.		5,000			141,749
Shimizu Corp.		33,000			137,735
Shin-Etsu Chemical Co., Ltd.		7,400			430,030
Shinko Electric Industries Co., Ltd.		600			9,285
Shinko Shoji Co., Ltd.		2,200			19,000

Investments		Shares		Value
Shionogi & Co., Ltd.		7,800		$	148,420
Shiseido Co., Ltd.		18,500			401,916
Shizuoka Bank Ltd. (The)		18,000			156,999
Showa Corp.*		800			6,370
Showa Denko K.K.		99,000			223,555
Showa Shell Sekiyu K.K.		14,900			100,779
SMC Corp.		800			108,647
Softbank Corp.		600			14,788
Sohgo Security Services Co., Ltd.		600			6,954
Sojitz Corp.		54,700			105,958
Sompo Japan Insurance, Inc.		26,000			176,969
Sony Corp.		13,300			509,568
Square Enix Holdings Co., Ltd.		600			13,125
Stanley Electric Co., Ltd.		9,900			192,088
Starzen Co., Ltd.		35,000			93,268
Sumitomo Chemical Co., Ltd.		42,000			205,415
Sumitomo Corp.		39,800			457,887
Sumitomo Electric Industries Ltd.		16,100			197,459
Sumitomo Metal Industries Ltd.		159,000			481,560
Sumitomo Mitsui Financial Group, Inc.		13,100			433,208
Sumitomo Real Estate Sales Co., Ltd.		380			16,511
Sumitomo Realty & Development Co., Ltd.		11,000			209,429
Sumitomo Rubber Industries, Inc.		23,300			205,471
Sumitomo Trust & Banking Co., Ltd. (The)		42,000			246,319
Suzuken Co., Ltd.		5,200			183,369
Suzuki Motor Corp.		7,300			161,172
T&D Holdings, Inc.		4,400			104,208
Taisei Corp.		72,000			158,733
Taiyo Nippon Sanso Corp.		17,000			166,289
Takeda Pharmaceutical Co., Ltd.		29,200			1,285,938
Takefuji Corp.		18,370			78,246
TDK Corp.		4,400			292,894
Teijin Ltd.		43,000			144,499
Terumo Corp.		1,900			101,263
THK Co., Ltd.		600			13,099
Tobu Railway Co., Ltd.		26,000			144,414
Toho Co., Ltd.		600			9,670
Toho Gas Co., Ltd.		24,000			130,993
Tohoku Electric Power Co., Inc.		14,000			296,062
Tokai Rika Co., Ltd.		600			12,322
Token Corp.		70			2,002
Tokio Marine Holdings, Inc.		9,000			253,607
Tokyo Electric Power Co., Inc. (The)		21,600			576,062
Tokyo Electron Ltd.		800			53,082
Tokyo Gas Co., Ltd.		58,000			255,736
Tokyo Tatemono Co., Ltd.		21,000			75,514
Tokyu Corp.		26,000			108,797
Tokyu Land Corp.		31,000			118,440
Tokyu Livable, Inc.		2,200			20,060
TonenGeneral Sekiyu K.K.		22,000			185,766
Toppan Printing Co., Ltd.		24,000			216,781
Toray Industries, Inc.		26,000			151,926
TOTO Ltd.		18,000			122,710
Toyo Seikan Kaisha Ltd.		600			10,634

 

See Notes to Financial Statements.

 

36		WisdomTree International Dividend and Sector Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree DEFA Fund (DWM)

March 31, 2010

  

 

 

Investments		Shares		Value
Toyoda Gosei Co., Ltd.		600		$	16,830
Toyota Boshoku Corp.		600			11,533
Toyota Motor Corp.		52,200			2,092,134
Toyota Tsusho Corp.		10,000			156,892
Trend Micro, Inc.		5,000			174,443
Ube Industries Ltd.		6,000			15,411
UNY Co., Ltd.		2,200			18,200
Ushio, Inc.		1,200			20,368
USS Co., Ltd.		3,560			241,931
Yamada Denki Co., Ltd.		200			14,769
Yamaha Corp.		10,000			129,174
Yamatake Corp.		7,400			173,121
Yamato Holdings Co., Ltd.		16,800			236,250
Yamazen Corp.		9,900			42,062
Yokogawa Electric Corp.*		15,600			135,899
Total Japan					55,020,454
Netherlands – 2.5%
Akzo Nobel N.V.		17,350			990,581
Heineken N.V.		19,770			1,017,867
Koninklijke Ahold N.V.		48,404			646,440
Koninklijke DSM N.V.		20,136			899,527
Koninklijke KPN N.V.		96,107			1,525,397
Koninklijke Philips Electronics N.V.		59,832			1,921,958
Reed Elsevier N.V.		44,338			539,824
STMicroelectronics N.V.		72,803			726,016
Unilever N.V. CVA		58,763			1,780,675
Wolters Kluwer N.V.		33,295			723,301
Total Netherlands					10,771,586
New Zealand – 0.3%
Contact Energy Ltd.*		76,701			348,308
Fletcher Building Ltd.		59,275			351,189
Telecom Corp. of New Zealand Ltd.		269,550			415,033
Total New Zealand					1,114,530
Norway – 1.2%
Fred Olsen Energy ASA		26,301			1,008,049
Orkla ASA		93,849			830,865
Statoil ASA		156,359			3,624,678
Total Norway					5,463,592
Portugal – 0.8%
Banco Espirito Santo S.A.		86,962			470,673
Brisa Auto-Estradas de Portugal S.A.		77,179			655,826
EDP-Energias de Portugal S.A.		172,498			686,917
Galp Energia, SGPS, S.A. Class B		43,455			756,154
Portugal Telecom, SGPS, S.A.		100,456			1,125,203
Total Portugal					3,694,773
Singapore – 2.4%
CapitaLand Ltd.		180,000			511,141
Cosco Corp.(Singapore) Ltd.		326,000			289,146
DBS Group Holdings Ltd.		38,000			388,684
Fraser and Neave Ltd.		78,000			267,802
Jardine Cycle & Carriage Ltd.		21,000			441,315
Keppel Corp., Ltd.		95,000			619,720

Investments		Shares		Value
Oversea-Chinese Banking Corp., Ltd.		136,000		$	847,294
Pacific Century Regional Developments Ltd.		1,530,000			213,404
SembCorp Industries Ltd.		105,000			310,182
SembCorp Marine Ltd.		141,000			422,581
SIA Engineering Co., Ltd.		163,000			413,898
Singapore Airlines Ltd.		86,000			935,017
Singapore Airport Terminal Services Ltd.		252,000			477,665
Singapore Exchange Ltd.		93,000			508,887
Singapore Press Holdings Ltd.		113,000			308,759
Singapore Technologies Engineering Ltd.		164,000			374,207
Singapore Telecommunications Ltd.		588,000			1,333,257
StarHub Ltd.		208,000			340,703
United Overseas Bank Ltd.		69,000			948,593
Wilmar International Ltd.		104,000			498,408
Total Singapore					10,450,663
Spain – 7.3%
Abertis Infraestructuras, S.A.		30,272			583,695
Acciona, S.A.		3,209			356,530
ACS Actividades de Construccion y Servicios, S.A.		14,579			673,869
Banco Bilbao Vizcaya Argentaria S.A.		188,200			2,579,638
Banco de Sabadell S.A.		97,492			539,274
Banco Espanol de Credito S.A.		66,050			697,103
Banco Pastor S.A.		46,417			269,755
Banco Popular Espanol S.A.		97,904			721,982
Banco Santander S.A.		518,882			6,908,653
Bolsas y Mercados Espanoles S.A.		22,714			609,154
Cia Espanola de Petroleos S.A.		10,031			282,860
Criteria Caixacorp S.A.		260,221			1,291,873
Ferrovial S.A.		85,526			833,221
Fomento de Construcciones y Contratas S.A.		15,212			557,912
Gas Natural SDG S.A.		85,560			1,582,592
Gestevision Telecinco S.A.		48,592			764,013
Iberdrola S.A.		194,578			1,652,103
Inditex S.A.		28,917			1,909,621
Mapfre S.A.		199,804			734,283
Red Electrica Corp. S.A.		8,069			433,833
Repsol YPF S.A.		72,615			1,722,416
Telefonica S.A.		241,425			5,729,827
Zardoya Otis, S.A.		22,888			397,342
Total Spain					31,831,549
Sweden – 2.8%
Atlas Copco AB Class A		67,288			1,047,139
Hennes & Mauritz AB Class B		36,551			2,382,392
Nordea Bank AB		102,455			1,014,300
Sandvik AB		96,264			1,207,145
Skanska AB Class B		66,474			1,211,809
Svenska Cellulosa AB Class B*		55,990			791,966
Svenska Handelsbanken AB Class A		41,700			1,226,028
Tele2 AB Class B		60,922			1,020,022
Telefonaktiebolaget LM Ericsson Class B		80,961			856,070
TeliaSonera AB*		190,560			1,356,982
Total Sweden					12,113,853

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		37

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Table of Contents

Schedule of Investments (concluded)

WisdomTree DEFA Fund (DWM)

March 31, 2010

  

 

 

Investments		Shares		Value
Switzerland – 5.5%
Adecco S.A.		18,352		$	1,043,530
Compagnie Financiere Richemont S.A. Class A		43,921			1,703,762
Geberit AG		5,801			1,039,997
Holcim Ltd.*		16,632			1,242,008
Kuehne + Nagel International AG		6,571			666,121
Nestle S.A.		106,850			5,481,830
Novartis AG		94,377			5,106,427
Roche Holding AG		19,562			3,178,093
SGS S.A.		782			1,080,260
Swisscom AG		3,111			1,137,345
Syngenta AG		2,279			633,976
Zurich Financial Services AG		7,212			1,852,077
Total Switzerland					24,165,426
United Kingdom – 19.2%
Admiral Group PLC		39,860			798,120
Antofagasta PLC		83,831			1,322,498
Associated British Foods PLC		56,812			843,253
AstraZeneca PLC		64,415			2,871,731
Aviva PLC		169,717			991,931
BAE Systems PLC		192,523			1,084,338
BG Group PLC		34,517			597,153
BHP Billiton PLC		75,730			2,596,172
BP PLC		1,092,770			10,333,624
British American Tobacco PLC		70,976			2,445,577
British Land Co. PLC		120,683			880,721
British Sky Broadcasting Group PLC		72,836			665,120
BT Group PLC		1,129,707			2,123,216
Cable & Wireless Communications PLC		332,856			279,467
Cable & Wireless Worldwide*		332,856			464,517
Centrica PLC		241,218			1,075,391
Compass Group PLC		139,616			1,113,982
Diageo PLC		94,717			1,589,060
Drax Group PLC		96,362			546,097
Eurasian Natural Resources Corp. PLC		61,331			1,108,954
GlaxoSmithKline PLC		220,259			4,228,175
HSBC Holdings PLC		692,439			7,016,412
Imperial Tobacco Group PLC		39,659			1,209,191
International Power PLC		149,786			724,574
J. Sainsbury PLC		138,278			687,154
Legal & General Group PLC		493,635			659,314
Man Group PLC		204,129			747,789
Marks & Spencer Group PLC		164,527			923,663
National Grid PLC		142,183			1,383,571
Pearson PLC		66,636			1,047,191
Prudential PLC		117,795			978,291
Reckitt Benckiser Group PLC		17,058			935,909
Reed Elsevier PLC		74,586			594,548
Rio Tinto PLC		34,624			2,050,951
Royal Dutch Shell PLC Class A		167,044			4,839,733
Royal Dutch Shell PLC Class B		151,324			4,167,362
RSA Insurance Group PLC		333,574			645,148
SABMiller PLC		44,482			1,303,613

Investments		Shares		Value
Scottish & Southern Energy PLC		47,774		$	797,877
Segro PLC		191,729			929,505
Severn Trent PLC		35,442			642,456
Standard Chartered PLC		75,816			2,067,221
Standard Life PLC		205,054			623,026
Tesco PLC		204,129			1,348,342
Unilever PLC		54,040			1,586,183
United Utilities Group PLC		107,357			910,331
Vodafone Group PLC		2,723,040			6,278,483
WM Morrison Supermarkets PLC		158,619			706,188
Total United Kingdom					83,763,123
United States – 0.2%
Kraft Foods, Inc. Class A		22,189			670,991
TOTAL COMMON STOCKS (Cost: $423,249,816)					431,464,635
RIGHTS – 0.0%
Germany – 0.0%
Volkswagen AG, expiring 4/13/10*		2,278			1,418
Spain – 0.0%
Banco Pastor S.A., expiring 4/19/10*		46,417			6,029
TOTAL RIGHTS (Cost: $0)					7,447
TOTAL LONG-TERM INVESTMENTS (Cost: $423,249,816)					431,472,082
SHORT-TERM INVESTMENT – 0.7%
MONEY MARKET FUND – 0.7%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(c)
(Cost: $3,252,437)		3,252,437			3,252,437
TOTAL INVESTMENTS IN SECURITIES – 99.7% (Cost: $426,502,253)					434,724,519
Foreign Currency and Other Assets in Excess of Liabilities – 0.3%					1,181,085
NET ASSETS – 100.0%				$	435,905,604

RSP – Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

(a)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(b)	Escrow security – additional shares issued as a result of a corporate action.

 

(c)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

See Notes to Financial Statements.

 

38		WisdomTree International Dividend and Sector Funds

---

Table of Contents

Schedule of Investments

WisdomTree DEFA Equity Income Fund (DTH)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.3%
Australia – 11.4%
Amcor Ltd.		76,648		$	449,545
AMP Ltd.		74,021			425,305
Australia & New Zealand Banking Group Ltd.		72,073			1,677,619
AXA Asia Pacific Holdings Ltd.		64,598			374,721
Bendigo and Adelaide Bank Ltd.		6,068			55,695
Brambles Ltd.		72,691			491,055
Challenger Financial Services Group Ltd.		36,501			140,710
Commonwealth Bank of Australia		44,623			2,305,481
Crown Ltd.		69,342			520,620
FKP Property Group		578,266			379,494
Foster’s Group Ltd.		91,295			443,276
Leighton Holdings Ltd.(a)		15,184			543,529
Lend Lease Group(b)		15,625			124,197
Macquarie Group Ltd.		11,711			507,887
National Australia Bank Ltd.		67,011			1,692,646
Orica Ltd.		18,729			460,531
QBE Insurance Group Ltd.		28,717			549,035
Suncorp-Metway Ltd.		84,742			664,245
Telstra Corp., Ltd.		498,938			1,369,271
Wesfarmers Ltd.		41,910			1,222,869
Westpac Banking Corp.		68,805			1,758,170
Total Australia					16,155,901
Austria – 0.7%
Bank Austria Creditanstalt AG*(c)		3,058			—
Telekom Austria AG		24,568			344,065
voestalpine AG		14,485			587,009
Total Austria					931,074
Belgium – 1.0%
Belgacom S.A.		19,657			769,211
Mobistar S.A.		4,951			305,249
Solvay S.A.		3,697			380,733
Total Belgium					1,455,193
Finland – 1.7%
Fortum Oyj(a)		26,029			637,831
Neste Oil Oyj*		21,989			384,115
Poyry Oyj		14,102			205,125
Rautaruukki Oyj(a)		15,291			331,044
Sampo Oyj Class A		20,442			543,244
UPM-Kymmene Oyj(a)		25,643			340,903
Total Finland					2,442,262
France – 14.7%
Accor S.A.		10,523			583,216
Bouygues S.A.		13,484			679,086
Casino Guichard Perrachon S.A.		4,953			419,874
Compagnie de Saint-Gobain		16,663			802,662
Credit Agricole S.A.		49,707			871,670
France Telecom S.A.		103,558			2,482,301
GDF Suez		51,209			1,981,719
Klepierre		8,649			340,322
Lagardere SCA(a)		7,062			286,285

Investments		Shares		Value
Legrand S.A.		14,089		$	445,903
Neopost S.A.		3,671			293,911
PagesJaunes Groupe(a)		28,332			325,933
PPR		4,347			579,781
Safran S.A.		20,985			548,020
Sanofi-Aventis S.A.		27,577			2,059,383
Schneider Electric S.A.		8,681			1,020,045
Suez Environnement S.A.		15,652			360,885
TOTAL S.A.		65,158			3,789,343
Vallourec S.A.		3,026			611,306
Veolia Environnement		13,692			475,764
Vinci S.A.		12,952			764,718
Vivendi S.A.		44,112			1,182,716
Total France					20,904,843
Germany – 9.0%
Allianz SE		11,763			1,477,529
BASF SE		29,395			1,826,439
Deutsche Post AG		39,613			688,496
Deutsche Telekom AG		191,149			2,595,489
E.ON AG		52,010			1,923,692
K+S AG		6,514			396,017
MAN SE(a)		5,355			449,098
Muenchener Rueckversicherungs AG		6,313			1,026,335
RWE AG		19,160			1,700,705
ThyssenKrupp AG		22,414			772,009
Total Germany					12,855,809
Hong Kong – 1.1%
CLP Holdings Ltd.		57,024			407,592
Hang Seng Bank Ltd.		60,118			837,736
Hongkong Electric Holdings Ltd.		57,518			341,121
Total Hong Kong					1,586,449
Italy – 7.1%
A2A SpA		147,818			277,817
Atlantia SpA		18,027			421,499
Edison SpA(a)		191,472			292,243
Enel SpA		375,975			2,106,149
ENI SpA		141,305			3,321,139
Mediaset SpA		80,536			693,070
Mediobanca SpA*		50,237			540,746
Parmalat SpA		119,686			328,348
Snam Rete Gas SpA		96,674			490,863
Telecom Italia SpA		317,884			458,517
Telecom Italia SpA RSP		392,643			443,623
Terna Rete Elettrica Nazionale SpA		84,988			368,279
Unione di Banche Italiane SCPA		21,884			295,816
Total Italy					10,038,109
Japan – 1.6%
Daiichi Sankyo Co., Ltd.		21,900			410,391
Eisai Co., Ltd.(a)		7,800			278,392
Mitsui O.S.K. Lines Ltd.		60,000			430,865
Mizuho Financial Group, Inc.(a)		258,200			511,205

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		39

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Table of Contents

Schedule of Investments (continued)

WisdomTree DEFA Equity Income Fund (DTH)

March 31, 2010

  

 

 

Investments		Shares		Value
Takeda Pharmaceutical Co., Ltd.(a)		14,800		$	651,776
Total Japan					2,282,629
Netherlands – 3.4%
Akzo Nobel N.V.		8,276			472,510
Koninklijke DSM N.V.(a)		7,467			333,570
Koninklijke KPN N.V.		49,715			789,070
Koninklijke Philips Electronics N.V.(a)		30,690			985,842
Reed Elsevier N.V.		28,929			352,216
STMicroelectronics N.V.		33,194			331,022
Unilever N.V. CVA		39,472			1,196,107
Wolters Kluwer N.V.		20,326			441,562
Total Netherlands					4,901,899
New Zealand – 0.2%
Telecom Corp. of New Zealand Ltd.		185,427			285,506
Norway – 1.9%
Fred Olsen Energy ASA		9,952			381,434
Orkla ASA		46,596			412,524
Statoil ASA		82,293			1,907,697
Total Norway					2,701,655
Portugal – 1.0%
Brisa Auto-Estradas de Portugal S.A.		41,048			348,804
EDP-Energias de Portugal S.A.		104,964			417,985
Portugal Telecom, SGPS, S.A.		55,805			625,069
Total Portugal					1,391,858
Singapore – 2.3%
DBS Group Holdings Ltd.		52,000			531,884
K1 Ventures Ltd.		995,000			120,990
Keppel Corp., Ltd.		83,000			541,440
Pacific Century Regional Developments Ltd.		952,000			132,785
Singapore Airlines Ltd.		63,000			684,954
Singapore Airport Terminal Services Ltd.		168,180			318,785
Singapore Exchange Ltd.		62,000			339,258
Singapore Technologies Engineering Ltd.		230,000			524,802
Total Singapore					3,194,898
Spain – 11.2%
Abertis Infraestructuras, S.A.(a)		14,964			288,531
ACS Actividades de Construccion y Servicios, S.A.		9,647			445,902
Banco Bilbao Vizcaya Argentaria S.A.		102,068			1,399,036
Banco de Sabadell S.A.(a)		46,980			259,868
Banco Espanol de Credito S.A.(a)		30,389			320,731
Banco Pastor S.A.(a)		27,337			158,871
Banco Popular Espanol S.A.(a)		49,451			364,671
Banco Santander S.A.*		277,832			3,697,980
Bolsas y Mercados Espanoles S.A.(a)		9,383			251,637
Criteria Caixacorp S.A.		113,435			563,151
Fomento de Construcciones y Contratas S.A.(a)		7,919			290,435
Gas Natural SDG S.A.		45,184			835,763
Gestevision Telecinco S.A.(a)		29,906			470,212
Iberdrola S.A.		114,727			974,112
Inditex S.A.		16,310			1,077,080

Investments		Shares		Value
Mapfre S.A.(a)		97,328		$	357,682
Repsol YPF S.A.		40,327			956,550
Telefonica S.A.		137,957			3,274,184
Total Spain					15,986,396
Sweden – 3.0%
Hennes & Mauritz AB Class B(a)		20,875			1,360,631
Sandvik AB		51,123			641,080
Skanska AB Class B		27,787			506,552
Svenska Handelsbanken AB Class A		21,213			623,686
Tele2 AB Class B		26,713			447,258
TeliaSonera AB(a)		100,867			718,276
Total Sweden					4,297,483
Switzerland – 4.1%
Compagnie Financiere Richemont S.A. Class A		21,156			820,673
Holcim Ltd.*		8,063			602,111
Novartis AG		54,193			2,932,204
Swisscom AG		1,396			510,361
Zurich Financial Services AG		3,886			997,944
Total Switzerland					5,863,293
United Kingdom – 23.9%
Aberdeen Asset Management PLC		83,383			164,429
Antofagasta PLC		46,490			733,415
AstraZeneca PLC		36,519			1,628,079
Aviva PLC		89,974			525,864
BP PLC		611,361			5,781,248
British American Tobacco PLC		51,199			1,764,133
British Land Co. PLC		54,209			395,607
BT Group PLC		560,874			1,054,129
Cable & Wireless Communications PLC		145,347			122,034
Cable & Wireless Worldwide*		145,347			202,839
Centrica PLC		125,697			560,379
Drax Group PLC		44,738			253,537
Electrocomponents PLC		28,059			93,638
GlaxoSmithKline PLC		124,758			2,394,901
HSBC Holdings PLC		380,956			3,860,187
Intermediate Capital Group PLC		14,050			57,757
International Power PLC		79,807			386,058
Investec PLC		11,459			93,690
Legal & General Group PLC		254,302			339,654
Man Group PLC		92,524			338,945
Marks & Spencer Group PLC		74,484			418,157
National Grid PLC		78,615			764,996
Pearson PLC		41,459			651,532
Prudential PLC		63,439			526,863
Royal Dutch Shell PLC Class A		93,267			2,702,206
Royal Dutch Shell PLC Class B		85,620			2,357,917
RSA Insurance Group PLC		185,835			359,414
Scottish & Southern Energy PLC		25,661			428,566
Segro PLC		106,305			515,368
Severn Trent PLC		16,951			307,270
Standard Life PLC		110,032			334,316

 

See Notes to Financial Statements.

 

40		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (concluded)

WisdomTree DEFA Equity Income Fund (DTH)

March 31, 2010

  

 

 

Investments		Shares		Value
United Utilities Group PLC		54,169		$	459,325
Vodafone Group PLC		1,481,521			3,415,926
Total United Kingdom					33,992,379
TOTAL COMMON STOCKS (Cost: $151,369,436)					141,267,636
RIGHTS – 0.0%
Spain – 0.0%
Banco Pastor S.A., expiring 4/19/10*(a) (Cost: $0)		27,337			3,551
TOTAL LONG-TERM INVESTMENTS (Cost: $151,369,436)					141,271,187
SHORT-TERM INVESTMENT – 0.7%
MONEY MARKET FUND – 0.7%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(d)
(Cost: $1,035,452)		1,035,452			1,035,452
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.9%
MONEY MARKET FUND – 5.9%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(e)
(Cost: $8,375,068)(f)		8,375,068			8,375,068
TOTAL INVESTMENTS IN SECURITIES – 105.9% (Cost: $160,779,956)					150,681,707
Liabilities in Excess of Foreign Currency and Other Assets – (5.9)%					(8,384,209	)
NET ASSETS – 100.0%				$	142,297,498

RSP – Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(c)	Escrow security – additional shares issued as a result of a corporate action.

 

(d)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(e)	Interest rate shown reflects yield as of March 31, 2010.

 

(f)	At March 31, 2010, the total market value of the Fund’s securities on loan was $6,879,952 and the total market value of the collateral held by the Fund was $8,375,068.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		41

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Table of Contents

Schedule of Investments

WisdomTree Global Equity Income Fund (DEW)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.1%
Australia – 5.7%
Amcor Ltd.		12,452		$	73,032
AMP Ltd.		11,880			68,259
Australia & New Zealand Banking Group Ltd.		11,715			272,686
AXA Asia Pacific Holdings Ltd.		10,494			60,874
Brambles Ltd.		11,814			79,808
Commonwealth Bank of Australia		7,249			374,525
Crown Ltd.		11,264			84,570
Foster’s Group Ltd.		14,828			71,996
Leighton Holdings Ltd.		865			30,964
Macquarie Group Ltd.		1,903			82,530
National Australia Bank Ltd.		10,890			275,073
Orica Ltd.		3,047			74,923
QBE Insurance Group Ltd.		4,664			89,170
Suncorp-Metway Ltd.		13,772			107,951
Telstra Corp., Ltd.		81,037			222,396
Wesfarmers Ltd.		6,809			198,676
Westpac Banking Corp.		11,176			285,580
Total Australia					2,453,013
Austria – 0.3%
Telekom Austria AG		3,960			55,458
voestalpine AG		2,266			91,830
Total Austria					147,288
Belgium – 0.6%
Belgacom S.A.		3,201			125,260
Mobistar S.A.		803			49,508
Solvay S.A.		605			62,306
Total Belgium					237,074
Brazil – 2.0%
Banco do Brasil S.A.		22,300			371,604
Centrais Eletricas Brasileiras S.A.		900			13,263
Cia Siderurgica Nacional S.A.		21,800			432,897
CPFL Energia S.A.		600			11,999
Natura Cosmeticos S.A.		500			10,161
Redecard S.A.		400			7,374
Souza Cruz S.A.		800			27,873
Total Brazil					875,171
Canada – 6.2%
Bank of Montreal		2,155			130,950
Bank of Nova Scotia		3,728			186,960
BCE, Inc.		21,843			642,663
Canadian Oil Sands Trust		5,043			151,357
Enerplus Resources Fund		4,853			115,137
Great-West Lifeco, Inc.		900			25,868
Husky Energy, Inc.		4,428			127,138
Manulife Financial Corp.*		2,200			43,456
Penn West Energy Trust		11,445			242,651
Power Financial Corp.		2,110			69,671
Royal Bank of Canada		4,531			265,460
Sun Life Financial, Inc.		1,400			45,082
Toronto-Dominion Bank (The)		3,633			271,074

Investments		Shares		Value
Transcanada Corp.		9,661		$	354,426
Total Canada					2,671,893
Chile – 0.3%
Aguas Andinas S.A. Class A		102,253			45,792
Banco Santander Chile		1,446,835			94,985
Total Chile					140,777
Czech Republic – 0.7%
CEZ AS		1,450			68,565
Komercni Banka AS		691			140,378
Telefonica O2 Czech Republic AS		3,003			70,201
Total Czech Republic					279,144
Finland – 0.8%
Fortum Oyj		4,235			103,777
Metso Oyj		101			3,268
Neste Oil Oyj		3,575			62,450
Rautaruukki Oyj		2,486			53,821
Sampo Oyj Class A		3,135			83,312
UPM-Kymmene Oyj		4,169			55,423
Total Finland					362,051
France – 7.9%
Accor S.A.		1,716			95,106
Bouygues S.A.		1,724			86,825
Casino Guichard Perrachon S.A.		803			68,072
Compagnie de Saint-Gobain		2,406			115,898
Credit Agricole S.A.		9,320			163,437
France Telecom S.A.		16,390			392,871
GDF Suez		9,116			352,777
Klepierre		1,364			53,671
Lagardere SCA		1,155			46,822
Legrand S.A.		2,288			72,413
Neopost S.A.		594			47,557
PagesJaunes Groupe		4,389			50,491
PPR		704			93,896
Safran S.A.		2,910			75,994
Sanofi-Aventis S.A.		4,743			354,196
Schneider Electric S.A.		1,408			165,445
Suez Environnement S.A.		2,541			58,587
TOTAL S.A.		11,052			642,743
Vallourec S.A.		345			69,696
Veolia Environnement		2,233			77,591
Vinci S.A.		2,079			122,749
Vivendi S.A.		7,172			192,293
Total France					3,399,130
Germany – 4.8%
Allianz SE		2,007			252,096
BASF SE		4,774			296,629
Deutsche Post AG		6,435			111,844
Deutsche Telekom AG		30,437			413,284
E.ON AG		8,448			312,466
K+S AG		1,056			64,199
MAN SE		748			62,731

 

See Notes to Financial Statements.

 

42		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Global Equity Income Fund (DEW)

March 31, 2010

  

 

 

Investments		Shares		Value
Muenchener Rueckversicherungs AG		990		$	160,949
RWE AG		3,260			289,369
ThyssenKrupp AG		3,542			121,998
Total Germany					2,085,565
Greece – 0.2%
Hellenic Telecommunications Organization S.A.		939			11,676
Piraeus Bank S.A.*		7,933			69,450
Total Greece					81,126
Hong Kong – 0.8%
CLP Holdings Ltd.		16,000			114,364
Hang Seng Bank Ltd.		9,900			137,955
Hongkong Electric Holdings Ltd.		17,500			103,787
Total Hong Kong					356,106
Israel – 0.4%
Bezeq Israeli Telecommunication Corp., Ltd.		11,680			33,166
Israel Chemicals Ltd.		10,740			145,361
Total Israel					178,527
Italy – 3.9%
A2A SpA		24,013			45,131
Atlantia SpA		2,937			68,672
Edison SpA		31,108			47,480
Enel SpA		61,072			342,115
ENI SpA		22,957			539,566
Fondiaria-Sai SpA		248			3,738
Mediaset SpA		13,090			112,649
Mediobanca SpA*		7,073			76,133
Parmalat SpA		19,448			53,354
Snam Rete Gas SpA		27,225			138,235
Telecom Italia SpA		51,634			74,477
Telecom Italia SpA RSP		63,778			72,059
Terna Rete Elettrica Nazionale SpA		17,905			77,588
Unione di Banche Italiane SCPA		2,629			35,537
Total Italy					1,686,734
Japan – 1.0%
Daiichi Sankyo Co., Ltd.		4,400			82,453
Eisai Co., Ltd.		1,100			39,260
Mitsui O.S.K. Lines Ltd.		11,000			78,992
Mizuho Financial Group, Inc.		41,800			82,759
Takeda Pharmaceutical Co., Ltd.		3,300			145,329
Total Japan					428,793
Malaysia – 1.2%
British American Tobacco Malaysia Bhd		1,000			13,532
Nestle Malaysia Bhd		8,000			83,728
Petronas Dagangan Bhd		11,300			31,350
Petronas Gas Bhd		26,300			79,013
Public Bank Bhd		9,132			32,586
Sime Darby Bhd		92,000			245,653
YTL Power International Bhd		13,000			8,728
Total Malaysia					494,590

Investments		Shares		Value
Netherlands – 1.9%
Akzo Nobel N.V.		1,353		$	77,248
Koninklijke DSM N.V.		1,221			54,545
Koninklijke KPN N.V.		8,074			128,150
Koninklijke Philips Electronics N.V.		4,994			160,420
Reed Elsevier N.V.		4,708			57,321
STMicroelectronics N.V.		5,390			53,751
Unilever N.V. CVA		6,413			194,331
Wolters Kluwer N.V.		3,300			71,689
Total Netherlands					797,455
New Zealand – 0.1%
Telecom Corp. of New Zealand Ltd.		30,118			46,373
Norway – 1.0%
Fred Olsen Energy ASA		1,595			61,132
Orkla ASA		4,968			43,983
Statoil ASA		13,365			309,824
Total Norway					414,939
Philippines – 0.2%
Globe Telecom, Inc.		1,700			37,619
Philippine Long Distance Telephone Co.		800			42,841
Total Philippines					80,460
Poland – 0.2%
Polskie Gornictwo Naftowe I Gazownictwo S.A.		35,033			44,941
Telekomunikacja Polska S.A.		9,017			51,230
Total Poland					96,171
Portugal – 0.5%
Brisa Auto-Estradas de Portugal S.A.		6,666			56,644
EDP-Energias de Portugal S.A.		17,050			67,896
Portugal Telecom, SGPS, S.A.		9,064			101,526
Total Portugal					226,066
Russia – 0.7%
Gazprom Neft JSC, ADR		1,600			41,936
Mechel, ADR		5,000			142,100
Novolipetsk Steel OJSC Reg S, GDR*		3,400			117,810
Total Russia					301,846
Singapore – 1.0%
DBS Group Holdings Ltd.		11,000			112,514
Keppel Corp., Ltd.		11,000			71,757
Singapore Airlines Ltd.		11,000			119,595
Singapore Exchange Ltd.		11,000			60,191
Singapore Technologies Engineering Ltd.		33,000			75,298
Total Singapore					439,355
South Africa – 1.9%
ABSA Group Ltd.		900			17,439
African Bank Investments Ltd.		32,441			157,259
ArcelorMittal South Africa Ltd.*		7,976			100,526
Exxaro Resources Ltd.		2,946			50,504
FirstRand Ltd.		14,229			39,138
Impala Platinum Holdings Ltd.		2,500			72,849

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		43

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Table of Contents

Schedule of Investments (continued)

WisdomTree Global Equity Income Fund (DEW)

March 31, 2010

  

 

 

Investments		Shares		Value
Kumba Iron Ore Ltd.		2,500		$	120,133
Standard Bank Group Ltd.		4,900			76,463
Telkom S.A. Ltd.		34,675			161,242
Tiger Brands Ltd.		500			12,486
Total South Africa					808,039
South Korea – 0.2%
SK Telecom Co., Ltd.		414			63,484
Spain – 6.3%
Abertis Infraestructuras, S.A.		2,431			46,874
ACS Actividades de Construccion y Servicios, S.A.		1,573			72,707
Banco Bilbao Vizcaya Argentaria S.A.		16,577			227,219
Banco de Sabadell S.A.		7,634			42,227
Banco Espanol de Credito S.A.		4,939			52,127
Banco Popular Espanol S.A.		8,041			59,298
Banco Santander S.A.		47,581			633,517
Bolsas y Mercados Espanoles S.A.		1,529			41,005
Criteria Caixacorp S.A.		22,736			112,873
Enagas		842			18,485
Fomento de Construcciones y Contratas S.A.		1,287			47,202
Gas Natural SDG S.A.		7,337			135,712
Gestevision Telecinco S.A.		6,185			97,247
Iberdrola S.A.		18,634			158,216
Inditex S.A.		2,651			175,067
Mapfre S.A.		21,702			79,755
Repsol YPF S.A.		6,556			155,507
Telefonica S.A.		22,901			543,518
Total Spain					2,698,556
Sweden – 1.5%
Hennes & Mauritz AB Class B		3,388			220,830
Sandvik AB		5,205			65,270
Skanska AB Class B		4,521			82,417
Svenska Handelsbanken AB Class A		3,454			101,551
Tele2 AB Class B		4,345			72,749
TeliaSonera AB		16,390			116,714
Total Sweden					659,531
Switzerland – 2.5%
Compagnie Financiere Richemont S.A. Class A		3,443			133,559
Holcim Ltd.*		1,589			118,660
Novartis AG		10,251			554,648
Swisscom AG		231			84,451
Zurich Financial Services AG		741			190,292
Total Switzerland					1,081,610
Taiwan – 4.1%
Advanced Semiconductor Engineering, Inc.		141,000			128,755
Asia Cement Corp.		10,000			9,761
Asustek Computer, Inc.		41,000			71,393
AU Optronics Corp.		87,000			98,895
Chang Hwa Commercial Bank		224,000			101,568
Far Eastern New Century Corp.		51,000			56,046
Far EasTone Telecommunications Co., Ltd.		22,000			26,324
First Financial Holding Co., Ltd.		191,000			104,948
Formosa Chemicals & Fibre Corp.		50,000			116,978

Investments		Shares		Value
Formosa Petrochemical Corp.		72,000		$	189,760
Formosa Plastics Corp.		4,000			8,817
HTC Corp.		6,000			70,092
MediaTek, Inc.		1,000			17,350
Mega Financial Holding Co., Ltd.		325,000			188,299
Nan Ya Plastics Corp.		92,000			187,720
Siliconware Precision Industries Co.		71,000			85,626
Taiwan Cement Corp.		40,000			37,723
Taiwan Mobile Co., Ltd.		24,000			45,192
Taiwan Semiconductor Manufacturing Co., Ltd.		95,000			183,969
United Microelectronics Corp.*		73,000			38,732
Total Taiwan					1,767,948
Thailand – 0.3%
Advanced Info Service PCL		3,300			8,803
PTT Chemical PCL		40,200			118,107
Total Thailand					126,910
Turkey – 0.4%
Tupras Turkiye Petrol Rafine		1,200			27,198
Turk Telekomunikasyon A.S.		17,400			58,297
Turkcell Iletisim Hizmet A.S.		15,600			94,797
Total Turkey					180,292
United Kingdom – 13.5%
Antofagasta PLC		7,557			119,217
AstraZeneca PLC		5,929			264,325
Aviva PLC		32,119			187,723
BAE Systems PLC		9,700			54,633
BP PLC		101,303			957,957
British American Tobacco PLC		8,316			286,539
British Land Co. PLC		5,764			42,065
BT Group PLC		96,098			180,610
Cable & Wireless Communications PLC		23,617			19,829
Cable & Wireless Worldwide*		23,617			32,959
Centrica PLC		20,416			91,018
Diageo PLC		4,100			68,785
Drax Group PLC		7,271			41,206
GlaxoSmithKline PLC		20,262			388,957
HSBC Holdings PLC		60,181			609,808
International Power PLC		12,969			62,736
Legal & General Group PLC		69,616			92,981
Man Group PLC		15,037			55,085
Marks & Spencer Group PLC		12,100			67,930
National Grid PLC		12,771			124,274
Pearson PLC		6,743			105,967
Prudential PLC		16,807			139,583
Royal Dutch Shell PLC Class A		15,890			460,378
Royal Dutch Shell PLC Class B		14,681			404,305
RSA Insurance Group PLC		30,184			58,377
Scottish & Southern Energy PLC		4,169			69,627
Segro PLC		14,102			68,367
Severn Trent PLC		2,761			50,048
Standard Life PLC		17,875			54,311
United Utilities Group PLC		8,800			74,619

 

See Notes to Financial Statements.

 

44		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Global Equity Income Fund (DEW)

March 31, 2010

  

 

 

Investments		Shares		Value
Vodafone Group PLC		240,636		$	554,832
Total United Kingdom					5,789,051
United States – 26.0%
AGL Resources, Inc.		384			14,842
Alcoa, Inc.		3,300			46,992
Alliant Energy Corp.		570			18,958
Allstate Corp. (The)		2,300			74,313
Altria Group, Inc.		13,158			270,002
AMB Property Corp.		608			16,562
Ameren Corp.		1,686			43,971
American Electric Power Co., Inc.		1,952			66,719
American Water Works Co., Inc.		608			13,230
Arthur J. Gallagher & Co.		606			14,877
AT&T, Inc.		32,850			848,844
Atmos Energy Corp.		444			12,685
AvalonBay Communities, Inc.		384			33,158
Avery Dennison Corp.		600			21,846
Bank of America Corp.		45,500			812,175
BB&T Corp.		3,800			123,082
Boston Properties, Inc.		600			45,264
Bristol-Myers Squibb Co.		9,840			262,728
Capitol Federal Financial		310			11,613
Caterpillar, Inc.		2,500			157,125
CBS Corp. Class B		4,471			62,326
CenterPoint Energy, Inc.		1,936			27,801
CenturyTel, Inc.		1,638			58,083
Cincinnati Financial Corp.		1,032			29,825
Comerica, Inc.		1,000			38,040
Consolidated Edison, Inc.		1,424			63,425
Constellation Energy Group, Inc.		900			31,599
Diamond Offshore Drilling, Inc.		700			62,167
Dominion Resources, Inc.		2,420			99,486
Dow Chemical Co. (The)		6,600			195,162
DPL, Inc.		504			13,704
DTE Energy Co.		952			42,459
Duke Energy Corp.		6,618			108,006
Duke Realty Corp.		2,052			25,445
E.I. du Pont de Nemours & Co.		4,856			180,837
Eastman Chemical Co.		300			19,104
Eaton Corp.		600			45,462
Edison International		1,000			34,170
Eli Lilly & Co.		5,314			192,473
Equity Residential		1,942			76,029
Exelon Corp.		2,270			99,449
Federal Realty Investment Trust		258			18,785
Fidelity National Financial, Inc. Class A		1,250			18,525
Fifth Third Bancorp		2,100			28,539
FirstEnergy Corp.		1,406			54,961
Fortune Brands, Inc.		500			24,255
Frontier Communications Corp.		4,050			30,132
General Electric Co.		87,100			1,585,220
Genuine Parts Co.		696			29,399
H.J. Heinz Co.		1,220			55,644

Investments		Shares		Value
Harley-Davidson, Inc.		1,300		$	36,491
Hartford Financial Services Group, Inc.		2,000			56,840
HCP, Inc.		1,784			58,872
Health Care REIT, Inc.		674			30,485
Integrys Energy Group, Inc.		616			29,186
International Paper Co.		2,000			49,220
KeyCorp		2,200			17,050
Kimberly-Clark Corp.		1,580			99,350
Kimco Realty Corp.		3,734			58,400
Kraft Foods, Inc. Class A		5,556			168,013
Legg Mason, Inc.		500			14,335
Leggett & Platt, Inc.		928			20,082
Liberty Property Trust		796			27,016
Lincoln National Corp.		1,300			39,910
Lorillard, Inc.		787			59,214
Ltd. Brands, Inc.		1,376			33,877
M&T Bank Corp.		540			42,865
Marsh & McLennan Cos., Inc.		1,734			42,344
Masco Corp.		2,500			38,800
Mattel, Inc.		1,328			30,199
Maxim Integrated Products, Inc.		1,274			24,703
MeadWestvaco Corp.		872			22,280
Merck & Co., Inc.		10,364			387,095
Microchip Technology, Inc.		912			25,682
Nationwide Health Properties, Inc.		600			21,090
New York Community Bancorp, Inc.		2,788			46,114
Newell Rubbermaid, Inc.		1,200			18,240
NiSource, Inc.		1,928			30,462
NSTAR		404			14,310
OGE Energy Corp.		396			15,420
Old Republic International Corp.		1,456			18,462
Oneok, Inc.		438			19,995
Paychex, Inc.		1,418			43,533
Pepco Holdings, Inc.		1,442			24,730
Pfizer, Inc.		41,752			716,047
PG&E Corp.		1,258			53,364
Philip Morris International, Inc.		8,405			438,405
Pinnacle West Capital Corp.		600			22,638
Pitney Bowes, Inc.		1,162			28,411
Plum Creek Timber Co., Inc.		774			30,116
PPG Industries, Inc.		654			42,772
Progress Energy, Inc.		1,476			58,095
ProLogis		4,004			52,853
Qwest Communications International, Inc.		11,380			59,404
R.R. Donnelley & Sons Co.		1,428			30,488
Rayonier, Inc.		402			18,263
Realty Income Corp.		708			21,729
Regency Centers Corp.		462			17,311
Regions Financial Corp.		9,522			74,748
Reynolds American, Inc.		2,188			118,108
Sara Lee Corp.		2,876			40,063
SCANA Corp.		548			20,599
Senior Housing Properties Trust		800			17,720
Sonoco Products Co.		378			11,639

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		45

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Global Equity Income Fund (DEW)

March 31, 2010

  

 

 

Investments		Shares		Value
Southern Co.		3,516		$	116,591
Southern Copper Corp.		3,700			117,179
Spectra Energy Corp.		3,083			69,460
SunTrust Banks, Inc.		2,700			72,333
TECO Energy, Inc.		1,216			19,322
Textron, Inc.		1,500			31,845
U.S. Bancorp		10,700			276,916
Ventas, Inc.		780			37,034
Verizon Communications, Inc.		14,296			443,462
Vornado Realty Trust		902			68,281
Vulcan Materials Co.		400			18,896
Weyerhaeuser Co.		1,000			45,270
Whiting USA Trust I		216			4,076
Windstream Corp.		4,432			48,264
Xcel Energy, Inc.		1,890			40,068
Total United States					11,205,933
TOTAL COMMON STOCKS (Cost: $41,003,620)					42,661,001
SHORT-TERM INVESTMENT – 0.5%
MONEY MARKET FUND – 0.5%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(a)
(Cost: $232,114)		232,114			232,114
TOTAL INVESTMENTS IN SECURITIES – 99.6% (Cost: $41,235,734)					42,893,115
Cash, Foreign Currency and Other Assets in Excess of and Liabilities – 0.4%					148,670
NET ASSETS – 100.0%				$	43,041,785

ADR	– American Depositary Receipt

 

GDR	– Global Depositary Receipt

 

RSP	– Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

(a)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

See Notes to Financial Statements.

 

46		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.8%
Austria – 1.8%
Flughafen Wien AG		6,145		$	306,151
Schoeller-Bleckmann Oilfield Equipment AG		1,932			101,980
Semperit AG Holding		3,779			147,827
Total Austria					555,958
Belgium – 4.5%
Arseus N.V.		6,201			75,935
Compagnie d’entreprises CFE		1,867			103,929
Euronav N.V.		30,808			683,655
EVS Broadcast Equipment S.A.		3,260			185,443
Omega Pharma S.A.		2,641			131,810
Tessenderlo Chemie N.V.		5,059			169,490
Total Belgium					1,350,262
Denmark – 0.7%
Auriga Industries Class B*		6,161			116,459
Rockwool International A/S Class B		917			98,668
Total Denmark					215,127
Finland – 6.2%
Alma Media Corp.		15,710			154,752
Amer Sports Oyj Class A		7,004			82,830
Citycon Oyj(a)		66,419			265,121
F-Secure Oyj(a)		29,611			100,567
Lassila & Tikanoja Oyj(a)		6,997			146,370
Poyry Oyj		13,687			199,089
Stockmann Oyj Abp Class B		4,856			177,013
Tieto Oyj(a)		13,604			315,506
Uponor Oyj(a)		22,603			412,885
Total Finland					1,854,133
France – 3.5%
Canal Plus		22,595			179,496
Derichebourg S.A.*(a)		26,224			122,099
GFI Informatique		20,305			83,248
Groupe Steria SCA		4,192			129,950
Ingenico		3,915			98,081
IPSOS		2,386			84,441
Rubis		1,745			152,531
Saft Groupe S.A.		1,677			66,588
Sechilienne-Sidec		4,145			137,411
Total France					1,053,845
Germany – 5.3%
Bauer AG		2,161			96,932
BayWa AG		2,452			92,567
Bechtle AG		4,256			131,128
CTS Eventim AG		1,835			93,358
Gerresheimer AG		3,667			114,866
Gerry Weber International AG		2,796			97,230
Gildemeister AG		9,393			126,626
H&R WASAG AG		4,786			100,701
Indus Holding AG		8,852			166,968
Kontron AG		8,485			83,134
Pfeiffer Vacuum Technology AG		2,276			174,000

Investments		Shares		Value
Sixt AG		4,216		$	135,087
Takkt AG		15,884			184,837
Total Germany					1,597,434
Ireland – 2.5%
C&C Group PLC		46,688			211,947
FBD Holdings PLC		8,834			87,486
FBD Holdings PLC Redemption Shares*†		2,660			—
Glanbia PLC		31,791			128,576
Greencore Group PLC		73,626			138,726
United Drug PLC		49,185			171,039
Total Ireland					737,774
Italy – 9.9%
Actelios SpA		13,898			68,452
Ascopiave SpA		40,912			92,725
Astaldi SpA		9,868			75,241
Autostrada Torino-Milano SpA		11,421			160,719
Banco di Desio e della Brianza SpA		11,283			65,648
Biesse SpA*		10,403			84,598
Brembo SpA		14,766			114,485
Buzzi Unicem SpA RSP		10,998			90,107
Cairo Communication SpA		33,822			132,259
Cementir Holding SpA		21,424			86,169
Credito Artigiano SpA		78,824			190,489
Danieli & C Officine Meccaniche SpA		3,339			89,818
Danieli & C Officine Meccaniche SpA RSP		6,245			92,275
De’Longhi SpA		20,933			91,913
Enia SpA		14,049			113,108
Fiat SpA RSP		20,358			172,165
Fondiaria-Sai SpA RSP		15,709			165,370
Immobiliare Grande Distribuzione		47,509			96,362
Industria Macchine Automatiche SpA		7,127			141,953
Intek SpA		50,195			34,639
Italcementi SpA RSP		19,410			126,066
KME Group SpA		195,232			80,571
Landi Renzo SpA		6,995			31,021
Maire Tecnimont SpA		49,842			190,184
MARR SpA		19,528			180,603
Piaggio & C. SpA		64,270			205,234
Total Italy					2,972,174
Netherlands – 6.5%
Aalberts Industries N.V.		15,272			244,048
Arcadis N.V.		7,392			156,633
BinckBank N.V.		13,951			247,290
Brit Insurance Holdings N.V.		22,242			253,885
CSM		9,458			294,345
Exact Holding N.V.		7,118			190,267
Grontmij CVA		3,777			84,326
Kardan N.V.*		21,400			131,549
Mediq N.V.		6,189			114,310
Ten Cate N.V.		2,277			59,710
TKH Group N.V.		8,428			176,191
Total Netherlands					1,952,554

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		47

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Table of Contents

Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2010

  

 

 

Investments		Shares		Value
Norway – 2.2%
Atea ASA		20,095		$	170,119
Sparebank 1 SMN		20,028			161,959
Veidekke ASA		39,824			325,398
Total Norway					657,476
Portugal – 0.9%
BANIF SGPS S.A.		92,000			140,668
Mota Engil, SGPS, S.A.		28,621			125,592
Total Portugal					266,260
Spain – 2.7%
Banco Guipuzcoano S.A.		18,614			146,082
Campofrio Food Group S.A.*		7,414			70,023
Duro Felguera S.A.		13,120			140,246
La Seda de Barcelona S.A. Class B*†(a)		17,637			—
NH Hoteles S.A.*		41,335			176,460
Tubacex S.A.		36,175			145,132
Viscofan S.A.		4,926			129,575
Total Spain					807,518
Sweden – 11.8%
AarhusKarlshamn AB		6,104			166,234
B&B Tools AB Class B		8,469			124,440
Cardo AB(a)		5,979			210,598
Clas Ohlson AB Class B		11,720			214,142
Fabege AB(a)		48,407			328,229
HQ AB*		7,250			132,972
Indutrade AB		7,816			179,191
Intrum Justitia AB(a)		15,354			195,205
KappAhl AB		37,298			357,588
Kungsleden AB		26,104			205,836
Loomis AB Class B		10,907			140,941
Mekonomen AB		7,107			159,481
NCC AB Class B*		15,608			273,254
Niscayah Group AB		13,055			25,214
Saab AB Class B		11,333			173,215
SKF AB Class A		4,960			88,352
SkiStar AB		6,356			121,433
SSAB AB Class B(a)		15,385			250,538
Wihlborgs Fastigheter AB		10,166			215,411
Total Sweden					3,562,274
Switzerland – 0.3%
Mobilezone Holding AG		10,867			94,882
United Kingdom – 40.0%
Ashtead Group PLC		90,105			130,461
Atkins WS PLC		15,628			146,978
BBA Aviation PLC		81,701			241,296
BlueBay Asset Management PLC		25,385			138,739
Bodycote PLC		54,251			172,898
Brewin Dolphin Holdings PLC		72,489			159,660
Britvic PLC		33,447			235,414
Carpetright PLC		12,339			149,736
Chaucer Holdings PLC		262,903			195,411
Chesnara PLC		44,043			156,834

Investments		Shares		Value
Chloride Group PLC		25,983		$	82,808
Cineworld Group PLC		36,525			103,745
Collins Stewart PLC		92,852			123,946
Computacenter PLC		18,959			88,290
Cranswick PLC		7,502			91,607
Dairy Crest Group PLC		31,197			175,946
Davis Service Group PLC		37,232			238,842
Delta PLC		38,660			111,569
Domino Printing Sciences PLC		24,165			141,932
Domino’s Pizza UK & IRL PLC		20,359			104,290
DS Smith PLC		178,888			365,787
Dunelm Group PLC		20,966			117,481
Electrocomponents PLC		161,561			539,158
Elementis PLC		194,216			167,926
Euromoney Institutional Investor PLC		32,202			254,006
Evolution Group PLC		20,448			39,315
F&C Asset Management PLC		271,666			256,320
Fenner PLC		48,972			158,154
Filtrona PLC		50,171			166,060
Forth Ports PLC		4,471			94,135
Game Group PLC		42,710			63,653
Go-Ahead Group PLC		8,953			190,539
Greggs PLC		15,544			114,710
Halma PLC		58,307			223,061
Headlam Group PLC		25,490			104,398
HMV Group PLC(a)		86,413			110,828
Hunting PLC		10,728			100,162
Intermediate Capital Group PLC		92,406			379,863
Interserve PLC		39,364			129,424
ITE Group PLC		54,987			119,526
Kcom Group PLC		161,768			120,239
Keller Group PLC		8,200			84,085
Kier Group PLC		7,024			117,202
Laird PLC		53,890			100,629
Marshalls PLC		80,504			108,684
Marston’s PLC		135,552			188,553
Melrose PLC		112,831			376,880
Moneysupermarket.com Group PLC		105,122			108,433
Morgan Crucible Co. PLC		67,619			208,938
Morgan Sindall PLC		9,405			77,752
Mothercare PLC		10,668			97,175
National Express Group PLC		75,904			263,668
Northern Foods PLC		134,187			118,465
Paragon Group of Cos. PLC		20,016			41,141
PayPoint PLC		10,559			56,059
Premier Farnell PLC		90,053			308,173
PV Crystalox Solar PLC		83,285			60,641
Renishaw PLC		17,463			173,110
Restaurant Group PLC		36,112			127,633
Rightmove PLC		12,560			128,412
Robert Wiseman Dairies PLC		14,234			107,029
Safestore Holdings PLC		13,395			29,259
Savills PLC		21,810			115,131
Schroders PLC		10,891			189,491

 

See Notes to Financial Statements.

 

48		WisdomTree International Dividend and Sector Funds

---

Table of Contents

Schedule of Investments (concluded)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2010

  

 

 

Investments		Shares		Value
Senior PLC		116,017		$	194,289
Severfield-Rowen PLC		34,313			102,537
Shaftesbury PLC		24,748			144,380
Smiths News PLC		50,254			86,140
Spectris PLC		18,485			232,030
Speedy Hire PLC		111,863			51,330
Spirax-Sarco Engineering PLC		10,094			214,822
Sthree PLC		32,843			169,386
Telecom Plus PLC		13,848			62,598
Tullett Prebon PLC		59,273			314,420
Victrex PLC		9,395			125,483
Wellstream Holdings PLC		9,761			96,982
Wincanton PLC		30,628			93,500
Workspace Group PLC		262,025			95,392
WSP Group PLC		16,579			73,183
Total United Kingdom					12,048,162
TOTAL COMMON STOCKS (Cost: $31,153,867)					29,725,833
SHORT-TERM INVESTMENT – 0.6%
MONEY MARKET FUND – 0.6%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $188,601)		188,601			188,601
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.2%
MONEY MARKET FUND – 7.2%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $2,169,018)(d)		2,169,018			2,169,018
TOTAL INVESTMENTS IN SECURITIES – 106.6% (Cost: $33,511,486)					32,083,452
Liabilities in Excess of Foreign Currency and Other Assets – (6.6)%					(1,988,788	)
NET ASSETS – 100.0%				$	30,094,664

RSP – Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $0, which represents 0% of net assets.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $1,756,761 and the total market value of the collateral held by the Fund was $2,169,018.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		49

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Table of Contents

Schedule of Investments

WisdomTree Japan Total Dividend Fund (DXJ)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.6%
Advertising – 0.0%
Hakuhodo DY Holdings, Inc.		238		$	12,532
Agriculture – 0.9%
Japan Tobacco, Inc.		128			476,712
Apparel – 0.3%
Onward Holdings Co., Ltd.		20,182			157,456
Auto Manufacturers – 7.1%
Honda Motor Co., Ltd.		46,312			1,635,591
Suzuki Motor Corp.		7,214			159,273
Toyota Motor Corp.		52,000			2,084,118
Total Auto Manufacturers					3,878,982
Auto Parts & Equipment – 2.7%
Aisin Seiki Co., Ltd.		7,908			236,969
Bridgestone Corp.		18,312			312,778
DENSO Corp.		11,014			328,275
JTEKT Corp.		502			5,931
NOK Corp.		502			7,559
Showa Corp.*		820			6,529
Stanley Electric Co., Ltd.		8,614			167,136
Sumitomo Electric Industries Ltd.		15,800			193,780
Sumitomo Rubber Industries, Inc.		18,924			166,881
Tokai Rika Co., Ltd.		502			10,310
Toyoda Gosei Co., Ltd.		502			14,081
Toyota Boshoku Corp.		502			9,649
Total Auto Parts & Equipment					1,459,878
Banks – 7.3%
Bank of Yokohama Ltd. (The)		23,018			112,824
Chiba Bank Ltd. (The)(a)		27,000			161,526
Chuo Mitsui Trust Holdings, Inc.		40,014			150,310
Fukuoka Financial Group, Inc.		44,504			189,085
Hiroshima Bank Ltd. (The)		46,008			194,490
Hokuhoku Financial Group, Inc.		75,020			164,588
Joyo Bank Ltd. (The)		33,018			147,351
Mitsubishi UFJ Financial Group, Inc.		209,134			1,096,700
Mizuho Financial Group, Inc.(a)		386,375			764,976
Resona Holdings, Inc.		9,961			126,005
Shizuoka Bank Ltd. (The)		20,008			174,513
Sumitomo Mitsui Financial Group, Inc.		12,959			428,546
Sumitomo Trust & Banking Co., Ltd. (The)		45,010			263,971
Total Banks					3,974,885
Beverages – 1.3%
Asahi Breweries Ltd.		12,614			236,647
Coca-Cola West Co., Ltd.		10,010			163,798
Ito En Ltd.(a)		2,700			41,812
Kirin Holdings Co., Ltd.		20,008			295,281
Total Beverages					737,538
Building Materials – 2.3%
Asahi Glass Co., Ltd.		33,018			372,088
Daikin Industries Ltd.		3,320			135,905
JS Group Corp.		13,116			267,121

Investments		Shares		Value
Panasonic Electric Works Co., Ltd.		26,014		$	328,516
TOTO Ltd.		20,008			136,399
Total Building Materials					1,240,029
Chemicals – 4.7%
Asahi Kasei Corp.		33,018			177,740
DIC Corp.		58,022			125,433
Hitachi Chemical Co., Ltd.		9,814			212,161
JSR Corp.		9,814			205,123
Kaneka Corp.		26,014			168,712
Mitsubishi Chemical Holdings Corp.		52,118			266,614
Mitsubishi Gas Chemical Co., Inc.		27,012			162,754
Nitto Denko Corp.		7,110			276,213
Shin-Etsu Chemical Co., Ltd.		7,310			424,800
Showa Denko K.K.		62,010			140,027
Sumitomo Chemical Co., Ltd.		46,010			225,027
Taiyo Nippon Sanso Corp.		16,022			156,722
Ube Industries Ltd.		5,020			12,894
Total Chemicals					2,554,220
Commercial Services – 1.6%
Dai Nippon Printing Co., Ltd.		23,004			310,938
Park24 Co., Ltd.		15,822			161,877
Secom Co., Ltd.		5,116			223,935
Sohgo Security Services Co., Ltd.		502			5,818
Toppan Printing Co., Ltd.		22,002			198,734
Total Commercial Services					901,302
Computers – 1.5%
Fujitsu Ltd.		27,000			176,841
Itochu Techno-Solutions Corp.		5,208			171,110
Otsuka Corp.(a)		2,404			152,823
TDK Corp.		4,506			299,950
Total Computers					800,724
Cosmetics/Personal Care – 1.4%
Kao Corp.		15,014			380,813
Shiseido Co., Ltd.(a)		17,308			376,019
Total Cosmetics/Personal Care					756,832
Distribution/Wholesale – 6.7%
Advan Co., Ltd.		7,214			51,110
Canon Marketing Japan, Inc.		15,612			212,693
Hitachi High-Technologies Corp.		7,214			165,604
Inabata & Co., Ltd.		13,308			62,809
ITOCHU Corp.		52,016			455,919
Marubeni Corp.		53,000			329,548
Mitsubishi Corp.		38,700			1,014,715
Mitsui & Co., Ltd.		37,518			630,787
Sojitz Corp.		54,304			105,191
Sumitomo Corp.		39,608			455,679
Toyota Tsusho Corp.		9,910			155,480
Yamazen Corp.		9,914			42,122
Total Distribution/Wholesale					3,681,657
Diversified Financial Services – 1.0%
ACOM Co., Ltd.(a)		5,544			90,778

 

See Notes to Financial Statements.

 

50		WisdomTree International Dividend and Sector Funds

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Total Dividend Fund (DXJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Aeon Credit Service Co., Ltd.		5,422		$	64,410
Credit Saison Co., Ltd.		5,400			83,797
Daiwa Securities Group, Inc.		6,006			31,624
Hitachi Capital Corp.		7,210			102,702
Mitsubishi UFJ Lease & Finance Co., Ltd.		1,802			65,569
Promise Co., Ltd.(a)		5,410			50,198
Takefuji Corp.(a)		14,818			63,116
Total Diversified Financial Services					552,194
Electric – 5.3%
Chubu Electric Power Co., Inc.		15,516			388,066
Chugoku Electric Power Co., Inc. (The)		10,412			207,037
Electric Power Development Co., Ltd.		5,400			177,997
Hokkaido Electric Power Co., Inc.(a)		9,808			188,308
Hokuriku Electric Power Co.(a)		7,210			158,645
Kansai Electric Power Co., Inc. (The)		20,620			472,689
Kyushu Electric Power Co., Inc.		13,710			298,586
Shikoku Electric Power Co., Inc.		5,008			141,975
Tohoku Electric Power Co., Inc.		13,806			291,959
Tokyo Electric Power Co., Inc. (The)		21,414			571,101
Total Electric					2,896,363
Electrical Components & Equipment – 0.7%
Brother Industries Ltd.		13,304			160,890
Casio Computer Co., Ltd.		10,700			82,334
Furukawa Electric Co., Ltd.		24,000			124,829
Ushio, Inc.		1,304			22,133
Total Electrical Components & Equipment					390,186
Electronics – 2.9%
Advantest Corp.		4,400			110,094
Chiyoda Integre Co., Ltd.		7,624			102,806
Hamamatsu Photonics K.K.		7,010			198,282
Hirose Electric Co., Ltd.		720			83,065
HOYA CORP.		5,924			162,872
Ibiden Co., Ltd.		2,700			93,044
Idec Corp.		8,502			76,340
Kyocera Corp.		2,604			253,879
Mabuchi Motor Co., Ltd.		2,722			156,725
NGK Insulators Ltd.		1,012			20,654
Nippon Electric Glass Co., Ltd.		6,018			84,821
Shinko Shoji Co., Ltd.		502			4,335
Yamatake Corp.		7,210			168,676
Yokogawa Electric Corp.*		11,720			102,098
Total Electronics					1,617,691
Engineering & Construction – 1.3%
JGC Corp.		6,018			107,427
Kajima Corp.		49,014			120,122
Obayashi Corp.		28,012			124,411
Shimizu Corp.		33,006			137,761
Taisei Corp.		61,024			134,535
Yurtec Corp.		16,000			80,993
Total Engineering & Construction					705,249
Entertainment – 0.6%
Oriental Land Co., Ltd.		2,600			181,421

Investments		Shares		Value
Sankyo Co., Ltd.		2,700		$	133,642
Toho Co., Ltd.		502			8,091
Total Entertainment					323,154
Environmental Control – 0.2%
Kurita Water Industries Ltd.		3,320			93,979
Food – 1.4%
Ajinomoto Co., Inc.		24,002			237,862
Nisshin Seifun Group, Inc.		12,506			161,545
Nissin Foods Holdings Co., Ltd.		5,200			175,021
Starzen Co., Ltd.		31,022			82,668
Yokohama Reito Co., Ltd.		14,000			100,385
Total Food					757,481
Forest Products & Paper – 0.7%
Chuetsu Pulp & Paper Co., Ltd.		5,006			9,001
Nippon Paper Group, Inc.		7,306			188,045
OJI Paper Co., Ltd.		46,022			201,937
Total Forest Products & Paper					398,983
Gas – 1.1%
Osaka Gas Co., Ltd.		53,014			190,065
Toho Gas Co., Ltd.		26,002			141,920
Tokyo Gas Co., Ltd.		58,020			255,825
Total Gas					587,810
Hand/Machine Tools – 0.8%
Hitachi Koki Co., Ltd.(a)		10,914			117,620
Makita Corp.		5,924			195,269
SMC Corp.		720			97,782
THK Co., Ltd.		502			10,960
Total Hand/Machine Tools					421,631
Healthcare-Products – 0.2%
Terumo Corp.		2,102			112,029
Home Builders – 1.0%
Daiwa House Industry Co., Ltd.		20,022			226,062
Sekisui Chemical Co., Ltd.		20,008			135,756
Sekisui House Ltd.		20,022			200,134
Token Corp.		88			2,517
Total Home Builders					564,469
Home Furnishings – 2.8%
Panasonic Corp.		46,312			708,756
Sharp Corp.		25,002			312,793
Sony Corp.		13,308			509,874
Total Home Furnishings					1,531,423
Household Products/Wares – 0.0%
Kokuyo Co., Ltd.		502			4,185
Insurance – 1.8%
MS&AD Insurance Group Holdings		13,030			361,867
Nipponkoa Insurance Co., Ltd.		20,022			124,066
Sompo Japan Insurance, Inc.		27,000			183,776
T&D Holdings, Inc.		4,216			99,850
Tokio Marine Holdings, Inc.		8,624			243,011
Total Insurance					1,012,570

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		51

---

Table of Contents

Schedule of Investments (continued)

WisdomTree Japan Total Dividend Fund (DXJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Internet – 0.3%
Matsui Securities Co., Ltd.		502		$	3,589
Trend Micro, Inc.		4,908			171,234
Total Internet					174,823
Iron/Steel – 2.6%
Hitachi Metals Ltd.		7,018			73,830
JFE Holdings, Inc.		13,116			528,486
Nippon Steel Corp.		56,010			219,988
Nisshin Steel Co., Ltd.		53,000			110,606
Sumitomo Metal Industries Ltd.		157,002			475,509
Total Iron/Steel					1,408,419
Leisure Time – 0.5%
Daikoku Denki Co., Ltd.		502			8,843
Sega Sammy Holdings, Inc.		9,818			118,942
Yamaha Corp.		10,010			129,303
Total Leisure Time					257,088
Machinery-Construction & Mining – 1.3%
Aichi Corp.		4,702			20,380
Hitachi Construction Machinery Co., Ltd.(a)		8,004			189,221
Komatsu Ltd.		23,006			482,575
Total Machinery-Construction & Mining					692,176
Machinery-Diversified – 2.0%
Amada Co., Ltd.		26,014			218,268
CKD Corp.		502			4,201
Fanuc Ltd.		2,700			286,644
Japan Steel Works Ltd. (The)		6,018			68,978
Kawasaki Heavy Industries Ltd.		33,006			91,134
Kubota Corp.		26,014			237,200
Mitsubishi Heavy Industries Ltd.		52,016			215,434
Total Machinery-Diversified					1,121,859
Media – 0.3%
Nippon Television Network Corp.		1,276			173,702
Metal Fabricate/Hardware – 0.6%
NSK Ltd.		26,000			205,351
NTN Corp.		28,012			126,510
Total Metal Fabricate/Hardware					331,861
Miscellaneous Manufacturing – 0.9%
FUJIFILM Holdings Corp.		5,204			179,333
Konica Minolta Holdings, Inc.		13,000			151,787
Nikon Corp.		6,618			144,557
Total Miscellaneous Manufacturing					475,677
Office/Business Equipment – 3.7%
Canon, Inc.		35,010			1,622,360
Ricoh Co., Ltd.		20,008			312,625
Seiko Epson Corp.		5,314			82,576
Total Office/Business Equipment					2,017,561
Oil & Gas – 1.4%
Cosmo Oil Co., Ltd.		29,006			70,156
Idemitsu Kosan Co., Ltd.		720			54,555
Nippon Mining Holdings, Inc.		26,014			119,574

Investments		Shares		Value
Nippon Oil Corp.		46,008		$	227,972
Showa Shell Sekiyu K.K.		15,122			102,280
TonenGeneral Sekiyu K.K.		23,004			194,244
Total Oil & Gas					768,781
Packaging & Containers – 0.0%
Toyo Seikan Kaisha Ltd.		502			8,897
Pharmaceuticals – 7.5%
Astellas Pharma, Inc.		13,308			482,102
Chugai Pharmaceutical Co., Ltd.		10,416			195,969
Daiichi Sankyo Co., Ltd.		28,908			541,715
Dainippon Sumitomo Pharma Co., Ltd.		18,618			170,758
Eisai Co., Ltd.(a)		10,704			382,040
Hisamitsu Pharmaceutical Co., Inc.		4,804			178,659
Kyowa Hakko Kirin Co., Ltd.(a)		17,022			175,794
Medipal Holdings Corp.		11,700			138,612
Mitsubishi Tanabe Pharma Corp.		20,008			282,647
Seikagaku Corp.		502			5,249
Shionogi & Co., Ltd.		6,618			125,929
Suzuken Co., Ltd.		5,200			183,369
Takeda Pharmaceutical Co., Ltd.(a)		28,716			1,264,623
Total Pharmaceuticals					4,127,466
Real Estate – 1.2%
Daito Trust Construction Co., Ltd.		3,324			160,437
Mitsubishi Estate Co., Ltd.		6,018			98,540
Mitsui Fudosan Co., Ltd.		6,018			102,211
Nomura Real Estate Holdings, Inc.		5,400			83,335
Sankei Building Co., Ltd. (The)		4,610			28,714
Sumitomo Real Estate Sales Co., Ltd.(a)		142			6,170
Sumitomo Realty & Development Co., Ltd.		1,012			19,267
Tokyo Tatemono Co., Ltd.		17,008			61,159
Tokyu Land Corp.(a)		26,002			99,344
Tokyu Livable, Inc.		502			4,577
Total Real Estate					663,754
Retail – 3.3%
Aeon Co., Ltd.		14,600			165,781
Belluna Co., Ltd.		3,666			15,576
Citizen Holdings Co., Ltd.		2,224			15,209
FamilyMart Co., Ltd.		5,300			168,745
Fast Retailing Co., Ltd.		1,906			331,469
Honeys Co., Ltd.		3,352			28,770
Isetan Mitsukoshi Holdings Ltd.		502			5,399
Izumi Co., Ltd.		502			6,587
Lawson, Inc.		5,400			230,586
Marui Group Co., Ltd.(a)		23,218			168,470
Nitori Co., Ltd.		264			20,060
Point, Inc.		58			3,476
Seven & I Holdings Co., Ltd.		15,708			379,756
UNY Co., Ltd.		2,016			16,678
USS Co., Ltd.		3,332			226,436
Yamada Denki Co., Ltd.		238			17,575
Total Retail					1,800,573

 

See Notes to Financial Statements.

 

52		WisdomTree International Dividend and Sector Funds

---

Table of Contents

Schedule of Investments (concluded)

WisdomTree Japan Total Dividend Fund (DXJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Semiconductors – 0.1%
Shinko Electric Industries Co., Ltd.		502		$	7,768
Tokyo Electron Ltd.		620			41,139
Total Semiconductors					48,907
Shipbuilding – 0.0%
Mitsui Engineering & Shipbuilding Co., Ltd.		5,020			12,518
Software – 1.2%
Konami Corp.		6,214			119,904
Nomura Research Institute Ltd.		7,720			175,980
Oracle Corp.		5,924			274,835
Square Enix Holdings Co., Ltd.		502			10,981
Zenrin Co., Ltd.		6,500			77,911
Total Software					659,611
Telecommunications – 7.6%
KDDI Corp.		86			445,462
Nippon Telegraph & Telephone Corp.		40,102			1,690,945
NTT DoCoMo, Inc.(a)		1,339			2,040,599
Softbank Corp.		502			12,373
Total Telecommunications					4,189,379
Textiles – 0.9%
Kuraray Co., Ltd.		13,506			181,834
Teijin Ltd.		46,022			154,655
Toray Industries, Inc.(a)		26,000			151,926
Total Textiles					488,415
Toys/Games/Hobbies – 0.2%
Namco Bandai Holdings, Inc.		10,106			98,529
Transportation – 3.4%
East Japan Railway Co.		3,512			244,306
Hankyu Hanshin Holdings, Inc.		27,012			125,173
Kintetsu Corp.		33,018			102,828
Mitsui O.S.K. Lines Ltd.		53,000			380,597
Nippon Express Co., Ltd.		46,008			197,937
Nippon Yusen K.K.		41,014			161,967
Odakyu Electric Railway Co., Ltd.		20,008			166,591
Tobu Railway Co., Ltd.		27,000			149,968
Tokyu Corp.		27,000			112,982
Yamato Holdings Co., Ltd.		17,622			247,809
Total Transportation					1,890,158
TOTAL COMMON STOCKS (Cost: $57,271,400)					54,012,298
SHORT-TERM INVESTMENT – 0.4%
MONEY MARKET FUND – 0.4%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $193,191)		193,191			193,191

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 11.4%
MONEY MARKET FUND – 11.4%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $6,240,050)(d)		6,240,050		$	6,240,050
TOTAL INVESTMENTS IN SECURITIES – 110.4% (Cost: $63,704,641)					60,445,539
Liabilities in Excess of Cash and Other Assets – (10.4)%					(5,694,826	)
NET ASSETS – 100.0%				$	54,750,713

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $5,945,247 and the total market value of the collateral held by the Fund was $6,240,050.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		53

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Table of Contents

Schedule of Investments

WisdomTree World ex-U.S. Growth Fund (DNL)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 97.7%
Australia – 8.3%
BHP Billiton Ltd.		26,288		$	1,051,758
Coca-Cola Amatil Ltd.		10,016			103,423
CSL Ltd.		2,916			97,503
Incitec Pivot Ltd.		32,044			102,058
Metcash Ltd.		13,439			51,067
Orica Ltd.		4,971			122,233
Origin Energy Ltd.		6,561			99,664
Santos Ltd.		3,899			52,464
Sims Metal Management Ltd.		2,179			43,320
Sonic Healthcare Ltd.		4,836			63,784
Woolworths Ltd.		10,302			264,759
Total Australia					2,052,033
Belgium – 0.8%
Colruyt S.A.		467			115,164
Delhaize Group		899			72,378
Total Belgium					187,542
Brazil – 6.7%
Centrais Eletricas Brasileiras S.A.		13,200			194,520
Cia de Bebidas das Americas		2,456			192,027
Light S.A.		11,188			151,581
Natura Cosmeticos S.A.		5,400			109,743
Petroleo Brasileiro S.A.		30,300			672,145
Redecard S.A.		8,417			155,163
Souza Cruz S.A.		5,600			195,107
Total Brazil					1,670,286
Canada – 5.2%
Brookfield Properties Corp.		7,785			120,088
Canadian Natural Resources Ltd.		1,438			106,544
Enbridge, Inc.		4,023			192,079
EnCana Corp.		6,612			205,943
George Weston Ltd.		1,016			70,250
Goldcorp, Inc.		1,503			56,221
Loblaw Cos. Ltd.		2,174			80,377
RioCan Real Estate Investment Trust(a)		5,653			102,969
Talisman Energy, Inc.		3,980			68,141
Thomson Reuters Corp.		7,861			286,376
Total Canada					1,288,988
China – 0.7%
China Citic Bank Corp., Ltd. Class H		155,000			116,180
Guangzhou R&F Properties Co., Ltd. Class H		33,600			55,043
Total China					171,223
Denmark – 0.2%
H. Lundbeck A/S		3,045			57,503
Finland – 0.4%
Kone Oyj Class B		2,416			100,034
France – 0.4%
Bureau Veritas S.A.		1,787			95,027
Germany – 0.2%
Volkswagen AG		627			60,660

Investments		Shares		Value
Hong Kong – 5.6%
China Overseas Land & Investment Ltd.		30,000		$	67,768
CNOOC Ltd.		490,300			806,990
Hang Lung Group Ltd.		9,000			47,755
Hang Lung Properties Ltd.		30,000			120,932
Henderson Land Development Co., Ltd.		14,000			98,626
MTR Corp.		33,500			126,844
Shanghai Industrial Holdings Ltd.		14,000			64,188
Sinotrans Shipping Ltd.		116,000			55,425
Total Hong Kong					1,388,528
Indonesia – 3.1%
Astra International Tbk PT		41,500			191,093
Bank Central Asia Tbk PT		250,500			151,410
Bank Mandiri Tbk PT		168,000			98,775
Bank Rakyat Indonesia		117,000			106,077
Indo Tambangraya Megah PT		27,400			114,574
Unilever Indonesia Tbk PT		85,000			113,495
Total Indonesia					775,424
Israel – 2.2%
Bezeq Israeli Telecommunication Corp., Ltd.		55,594			157,862
Israel Chemicals Ltd.		27,682			374,664
Total Israel					532,526
Japan – 1.6%
Chugai Pharmaceutical Co., Ltd.		3,600			67,731
Fast Retailing Co., Ltd.		600			104,345
Kyowa Hakko Kirin Co., Ltd.		6,000			61,965
Mitsubishi Tanabe Pharma Corp.		6,000			84,760
TonenGeneral Sekiyu K.K.		8,000			67,551
Total Japan					386,352
Malaysia – 2.1%
British American Tobacco Malaysia Bhd		4,400			59,539
Digi.Com Bhd		3,400			23,535
Petronas Dagangan Bhd		16,200			44,945
Petronas Gas Bhd		41,400			124,378
Plus Expressways Bhd		72,000			74,604
Telekom Malaysia Bhd		71,400			75,296
Tenaga Nasional Bhd		52,600			129,323
Total Malaysia					531,620
Mexico – 1.2%
Grupo Financiero Inbursa S.A. Class O		27,600			96,290
Kimberly-Clark de Mexico S.A.B de C.V. Class A		16,700			94,710
Telefonos de Mexico S.A.B de CV		144,800			113,723
Total Mexico					304,723
Netherlands – 0.7%
Koninklijke Ahold N.V.		12,921			172,561
Norway – 0.6%
Fred Olsen Energy ASA		3,567			136,714
Philippines – 0.6%
SM Investments Corp.		18,190			148,933

 

See Notes to Financial Statements.

 

54		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree World ex-U.S. Growth Fund (DNL)

March 31, 2010

  

 

 

Investments		Shares		Value
Singapore – 1.1%
Jardine Cycle & Carriage Ltd.		6,000		$	126,090
Wilmar International Ltd.		33,000			158,149
Total Singapore					284,239
South Africa – 6.8%
ABSA Group Ltd.		9,738			188,688
African Bank Investments Ltd.		19,065			92,418
Bidvest Group Ltd.		4,129			76,604
Gold Fields Ltd.		4,706			59,082
Kumba Iron Ore Ltd.(a)		10,243			492,209
MTN Group Ltd.		7,928			120,907
Nedbank Group Ltd.		8,075			153,936
RMB Holdings Ltd.		21,014			92,623
Shoprite Holdings Ltd.		6,973			69,028
Standard Bank Group Ltd.		16,681			260,302
Tiger Brands Ltd.		3,210			80,163
Total South Africa					1,685,960
South Korea – 1.4%
LG Chem Ltd.		630			133,912
LG Corp.		1,015			63,693
Samsung Securities Co., Ltd.*		809			43,616
SK Energy Co., Ltd.		862			92,565
Total South Korea					333,786
Spain – 2.7%
Bankinter, S.A.		3,457			28,814
Inditex S.A.		7,855			518,729
Indra Sistemas S.A.		2,732			56,115
Zardoya Otis, S.A.		3,767			65,396
Total Spain					669,054
Sweden – 4.3%
Assa Abloy AB Class B		3,109			61,039
Atlas Copco AB Class A		9,852			153,317
Atlas Copco AB Class B		5,769			81,121
Hennes & Mauritz AB Class B		9,489			618,492
Ratos AB Class B*		2,377			79,101
Swedish Match AB		2,825			67,750
Total Sweden					1,060,820
Switzerland – 1.3%
Compagnie Financiere Richemont S.A. Class A		8,586			333,064
Taiwan – 1.3%
Quanta Computer, Inc.		68,520			132,906
Taiwan Mobile Co., Ltd.		70,000			131,809
Wistron Corp.		34,769			63,171
Total Taiwan					327,886
Turkey – 1.8%
Akbank TAS		32,640			210,138
Turkcell Iletisim Hizmet A.S.		38,978			236,859
Total Turkey					446,997

Investments		Shares		Value
United Kingdom – 36.4%
Admiral Group PLC		4,144		$	82,976
Amlin PLC		3,699			21,776
Antofagasta PLC		13,513			213,178
Ashmore Group PLC		12,315			49,261
AstraZeneca PLC		15,603			695,609
BG Group PLC		9,902			171,307
BHP Billiton PLC		18,889			647,552
BP PLC		309,480			2,926,554
Capita Group PLC (The)		3,941			45,224
Compass Group PLC		31,752			253,346
Drax Group PLC		17,150			97,191
Eurasian Natural Resources Corp. PLC		9,424			170,399
Firstgroup PLC		7,764			42,280
G4S PLC		14,125			56,030
Inmarsat PLC		4,585			52,580
International Power PLC		24,480			118,419
Investec PLC		7,842			64,117
Pearson PLC		11,332			178,083
Reckitt Benckiser Group PLC		5,193			284,921
Royal Dutch Shell PLC Class A		45,715			1,324,492
Royal Dutch Shell PLC Class B		40,285			1,109,422
RSA Insurance Group PLC		49,416			95,573
SABMiller PLC		9,602			281,401
Smith & Nephew PLC		4,755			47,353
Total United Kingdom					9,029,044
TOTAL COMMON STOCKS (Cost: $20,216,830)					24,231,527
EXCHANGE-TRADED FUND – 1.4%
United States – 1.4%
WisdomTree India Earnings Fund*(b)
(Cost: $328,051)		15,387			358,979
RIGHTS – 0.0%
Germany – 0.0%
Volkswagen AG, expiring 4/13/10*
(Cost: $0)		627			390
TOTAL LONG-TERM INVESTMENTS (Cost: $20,544,881)					24,590,896
SHORT-TERM INVESTMENT – 0.8%
MONEY MARKET FUND – 0.8%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(c)
(Cost: $209,172)		209,172			209,172

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		55

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Table of Contents

Schedule of Investments (concluded)

WisdomTree World ex-U.S. Growth Fund (DNL)

March 31, 2010

  

 

 

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6%
MONEY MARKET FUND – 1.6%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(d)
(Cost: $385,003)(e)		385,003		$	385,003
TOTAL INVESTMENTS IN SECURITIES – 101.5% (Cost: $21,139,056)					25,185,071
Liabilities in Excess of Foreign Currency and Other Assets – (1.5)%					(379,882	)
NET ASSETS – 100.0%				$	24,805,189

 

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Affiliated Companies (See Note 4).

 

(c)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(d)	Interest rate shown reflects yield as of March 31, 2010.

 

(e)	At March 31, 2010, the total market value of the Fund’s securities on loan was $361,474 and the total market value of the collateral held by the Fund was $385,003.

 

See Notes to Financial Statements.

 

56		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.6%
Advertising – 0.4%
Asatsu-DK, Inc.		9,400		$	199,689
Moshi Moshi Hotline, Inc.		25,750			492,458
Total Advertising					692,147
Agriculture – 0.3%
Hokuto Corp.		23,500			482,122
Apparel – 2.0%
Atsugi Co., Ltd.		24,000			30,565
Gunze Ltd.		146,000			539,062
Japan Wool Textile Co., Ltd. (The)		72,000			560,188
Onward Holdings Co., Ltd.		170,000			1,326,306
Sanyo Shokai Ltd.(a)		168,000			638,271
Total Apparel					3,094,392
Auto Manufacturers – 0.6%
Kanto Auto Works Ltd.		30,200			242,402
Nissan Shatai Co., Ltd.		21,000			167,658
Shinmaywa Industries Ltd.		147,000			544,328
Total Auto Manufacturers					954,388
Auto Parts & Equipment – 5.4%
Eagle Industry Co., Ltd.		2,000			15,753
Exedy Corp.		16,200			395,811
FCC Co., Ltd.		31,400			623,363
Keihin Corp.		29,100			562,442
Musashi Seimitsu Industry Co., Ltd.		21,500			458,117
NHK Spring Co., Ltd.		135,000			1,239,619
Nifco, Inc.		51,700			1,189,587
Nippon Seiki Co., Ltd.		58,000			685,895
Nissin Kogyo Co., Ltd.		43,300			707,147
Showa Corp.*		91,400			727,757
Takata Corp.		28,800			738,493
Teikoku Piston Ring Co., Ltd.		6,800			50,942
Tokai Rika Co., Ltd.		30,900			634,601
TS Tech Co., Ltd.(a)		30,000			562,500
Total Auto Parts & Equipment					8,592,027
Banks – 5.8%
Akita Bank Ltd. (The)		80,000			321,918
Aomori Bank Ltd. (The)		71,000			167,166
Awa Bank Ltd. (The)		71,000			423,234
Bank of Nagoya Ltd. (The)		83,000			337,543
Bank of Saga Ltd. (The)		82,000			235,188
Daishi Bank Ltd. (The)		146,000			506,250
Fukui Bank Ltd. (The)		92,000			292,423
Higo Bank Ltd. (The)		74,000			411,815
Hokkoku Bank Ltd. (The)		138,000			512,479
Hokuetsu Bank Ltd. (The)		166,000			271,811
Hyakugo Bank Ltd. (The)		91,000			427,536
Juroku Bank Ltd. (The)		162,000			643,215
Keiyo Bank Ltd. (The)		93,000			448,876
Kiyo Holdings, Inc.		474,000			629,024
Miyazaki Bank Ltd. (The)		62,000			187,778

Investments		Shares		Value
Musashino Bank Ltd. (The)		15,400		$	442,355
Ogaki Kyoritsu Bank Ltd. (The)		88,000			304,195
Oita Bank Ltd. (The)		67,000			246,661
San-In Godo Bank Ltd. (The)		59,000			492,509
Toho Bank Ltd. (The)		82,000			261,515
Tokyo Tomin Bank Ltd. (The)		30,700			408,392
Yachiyo Bank Ltd. (The)		13,700			317,135
Yamagata Bank Ltd. (The)		123,000			542,337
Yamanashi Chuo Bank Ltd. (The)		70,000			307,898
Total Banks					9,139,253
Beverages – 1.2%
Coca-Cola Central Japan Co., Ltd.		28,800			352,295
Ito En Ltd.(a)		53,000			820,751
Mikuni Coca-Cola Bottling Co., Ltd.		41,900			331,379
Takara Holdings, Inc.		77,000			431,807
Total Beverages					1,936,232
Building Materials – 1.8%
Central Glass Co., Ltd.		155,000			766,374
Fujitec Co., Ltd.		78,000			464,127
Sanwa Holdings Corp.		209,000			697,859
Sumitomo Osaka Cement Co., Ltd.		285,000			494,114
Takara Standard Co., Ltd.		75,000			466,342
Total Building Materials					2,888,816
Chemicals – 9.8%
ADEKA Corp.		67,400			673,711
Aica Kogyo Co., Ltd.		66,800			744,923
Denki Kagaku Kogyo K.K.		301,000			1,294,970
DIC Corp.		619,000			1,338,164
Earth Chemical Co., Ltd.		17,500			531,892
Fujimi, Inc.		24,000			423,801
Lintec Corp.		24,400			477,346
Nihon Parkerizing Co., Ltd.		63,000			854,249
Nippon Chemical Industrial Co., Ltd.		20,000			47,945
Nippon Kayaku Co., Ltd.		143,000			1,242,680
Nippon Paint Co., Ltd.(a)		96,000			628,767
Nippon Synthetic Chemical Industry Co., Ltd. (The)		3,000			20,644
NOF Corp.*		152,000			601,884
Sanyo Chemical Industries Ltd.		96,000			574,315
Sumitomo Bakelite Co., Ltd.		171,000			980,907
T. Hasegawa Co., Ltd.(a)		33,900			512,273
Taiyo Ink Manufacturing Co., Ltd.		29,100			780,132
Toagosei Co., Ltd.		243,000			1,032,438
Tokai Carbon Co., Ltd.		89,000			518,151
Tokyo Ohka Kogyo Co., Ltd.		29,000			539,095
Toyo Ink Manufacturing Co., Ltd.		231,000			1,038,313
Zeon Corp.		95,000			555,116
Total Chemicals					15,411,716
Commercial Services – 2.2%
Meitec Corp.(a)		39,100			766,182
Park24 Co., Ltd.		117,500			1,202,162
Sohgo Security Services Co., Ltd.		55,100			638,627

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		57

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Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2010

  

 

 

Investments		Shares		Value
TKC Corp.		14,800		$	273,699
Toppan Forms Co., Ltd.		53,600			591,986
Total Commercial Services					3,472,656
Computers – 1.4%
NEC Fielding Ltd.		38,000			514,855
NS Solutions Corp.		36,300			658,481
Otsuka Corp.(a)		15,600			991,695
Total Computers					2,165,031
Cosmetics/Personal Care – 1.6%
Fancl Corp.(a)		36,700			695,980
Kose Corp.(a)		16,300			382,904
Lion Corp.		133,000			670,409
Mandom Corp.		16,800			458,476
Pigeon Corp.		9,300			346,361
Total Cosmetics/Personal Care					2,554,130
Distribution/Wholesale – 2.6%
Ai Holdings Corp.		126,100			426,451
Inaba Denki Sangyo Co., Ltd.		16,200			375,700
Itochu Enex Co., Ltd.		91,900			484,875
Iwatani Corp.		150,000			439,854
Nagase & Co., Ltd.		68,000			850,728
Ryoden Trading Co., Ltd.		80,000			420,377
Ryoshoku Ltd.		7,900			185,241
Sinanen Co., Ltd.		87,000			360,327
Yamazen Corp.		121,300			515,369
Total Distribution/Wholesale					4,058,922
Diversified Financial Services – 2.5%
Century Tokyo Leasing Corp.		37,455			519,095
Fuyo General Lease Co., Ltd.		21,200			600,107
IBJ Leasing Co., Ltd.		29,600			590,796
Ichiyoshi Securities Co., Ltd.		45,900			313,892
NEC Capital Solutions Ltd.		31,400			405,606
Okasan Securities Group, Inc.		14,000			66,973
Takefuji Corp.(a)		318,080			1,354,836
Tokai Tokyo Financial Holdings		5,000			20,869
Total Diversified Financial Services					3,872,174
Electric – 0.3%
Okinawa Electric Power Co., Inc. (The)		7,700			402,140
Electrical Components & Equipment – 0.4%
Hitachi Cable Ltd.(a)		227,000			677,793
Electronics – 5.9%
Eizo Nanao Corp.		21,500			530,367
Fujitsu General Ltd.		10,000			45,484
Horiba Ltd.		23,300			670,773
Idec Corp.		36,300			325,939
Kaga Electronics Co., Ltd.(a)		38,700			417,069
Nichicon Corp.		38,300			471,782
Nidec Copal Corp.		37,000			527,836
Osaki Electric Co., Ltd.		2,000			17,680
Ryosan Co., Ltd.		29,900			761,900
Sanshin Electronics Co., Ltd.		51,700			437,104

Investments		Shares		Value
Sato Corp.		36,400		$	519,276
Star Micronics Co., Ltd.		75,400			829,529
Taiyo Yuden Co., Ltd.		27,000			426,787
Toyo Corp.		60,200			528,940
Ulvac, Inc.		800			20,779
Yaskawa Electric Corp.		138,000			1,262,735
Yokogawa Electric Corp.*		171,900			1,497,502
Total Electronics					9,291,482
Engineering & Construction – 5.2%
Japan Airport Terminal Co., Ltd.		31,300			434,797
Kyowa Exeo Corp.		69,000			570,077
Maeda Corp.		145,000			431,400
Maeda Road Construction Co., Ltd.		61,000			497,453
NEC Networks & System Integration Corp.		36,900			489,288
Nippo Corp.		68,000			522,517
Nishimatsu Construction Co., Ltd.		218,000			284,632
Okumura Corp.(a)		153,000			535,435
Sanki Engineering Co., Ltd.		67,000			471,811
Shinko Plantech Co., Ltd.		60,200			533,450
SHO-BOND Holdings Co., Ltd.(a)		23,300			456,824
Taikisha Ltd.		39,200			632,217
Takasago Thermal Engineering Co., Ltd.(a)		73,000			578,906
Toda Corp.		154,000			555,415
Toshiba Plant Systems & Services Corp.		58,000			652,997
Toyo Engineering Corp.		140,000			537,885
Total Engineering & Construction					8,185,104
Entertainment – 1.0%
Avex Group Holdings, Inc.(a)		62,000			536,130
Mars Engineering Corp.		15,200			310,539
Toei Co., Ltd.		67,000			342,744
Tokyotokeiba Co., Ltd.		245,000			348,727
Total Entertainment					1,538,140
Food – 5.1%
Ariake Japan Co., Ltd.		30,600			446,687
Ezaki Glico Co., Ltd.		59,000			688,881
Fuji Oil Co., Ltd.		31,500			445,328
J-Oil Mills, Inc.		135,000			423,320
Kato Sangyo Co., Ltd.		21,900			359,062
Maruha Nichiro Holdings, Inc.(a)		299,000			425,589
MEGMILK SNOW BRAND Co., Ltd.		22,801			355,045
Mitsui Sugar Co., Ltd.		138,000			460,788
Morinaga & Co., Ltd.		213,000			474,144
Morinaga Milk Industry Co., Ltd.		142,000			559,247
Nichirei Corp.(a)		153,000			573,095
Nippon Beet Sugar Manufacturing Co., Ltd.		152,000			370,890
Nippon Flour Mills Co., Ltd.		79,000			393,985
Nippon Suisan Kaisha Ltd.(a)		256,600			744,206
Nisshin Oillio Group Ltd. (The)		93,000			450,867
Yokohama Reito Co., Ltd.		129,000			924,979
Total Food					8,096,113

 

See Notes to Financial Statements.

 

58		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Forest Products & Paper – 0.8%
Daio Paper Corp.		63,000		$	517,134
Hokuetsu Kishu Paper Co., Ltd.(a)		148,000			739,683
Total Forest Products & Paper					1,256,817
Gas – 0.4%
Saibu Gas Co., Ltd.		234,000			656,122
Hand/Machine Tools – 2.1%
Asahi Diamond Industrial Co., Ltd.		78,000			716,224
Disco Corp.		300			18,461
Hitachi Koki Co., Ltd.(a)		139,100			1,499,077
OSG Corp.(a)		61,500			648,962
Union Tool Co.		14,800			414,191
Total Hand/Machine Tools					3,296,915
Healthcare-Products – 1.2%
Hogy Medical Co., Ltd.		8,100			373,619
Nihon Kohden Corp.		39,400			725,257
Nipro Corp.		11,000			212,607
Paramount Bed Co., Ltd.		32,000			626,370
Total Healthcare-Products					1,937,853
Home Builders – 1.0%
Mitsui Home Co., Ltd.		82,000			449,315
PanaHome Corp.		91,000			607,706
Token Corp.		16,040			458,678
Total Home Builders					1,515,699
Home Furnishings – 1.7%
Canon Electronics, Inc.		36,700			811,846
Nidec Sankyo Corp.(a)		136,000			1,203,682
Noritz Corp.		46,000			709,396
Total Home Furnishings					2,724,924
Household Products/Wares – 0.3%
Kokuyo Co., Ltd.		61,800			515,221
Housewares – 0.7%
Noritake Co., Ltd.		94,000			272,624
Sangetsu Co., Ltd.		33,700			764,958
Total Housewares					1,037,582
Iron/Steel – 1.5%
Aichi Steel Corp.		90,000			403,574
Godo Steel Ltd.		153,000			343,857
Kyoei Steel Ltd.		21,600			455,856
Nippon Metal Industry Co., Ltd.(a)		168,000			273,288
Topy Industries Ltd.		233,000			528,639
Yodogawa Steel Works Ltd.		94,000			421,511
Total Iron/Steel					2,426,725
Leisure Time – 0.6%
Mizuno Corp.		81,000			358,016
Round One Corp.		45,600			300,128
Tokyo Dome Corp.		94,000			267,594
Total Leisure Time					925,738
Lodging – 0.4%
Resorttrust, Inc.(a)		46,360			680,218

Investments		Shares		Value
Machinery-Construction & Mining – 0.7%
Aichi Corp.		84,800		$	367,551
Tadano Ltd.(a)		136,000			736,473
Total Machinery-Construction & Mining					1,104,024
Machinery-Diversified – 4.2%
Chugai Ro Co., Ltd.		157,000			462,061
CKD Corp.		99,500			832,716
Daifuku Co., Ltd.		111,000			874,315
Hisaka Works Ltd.		19,000			184,429
Komori Corp.		59,500			738,019
Max Co., Ltd.		18,000			192,444
Miura Co., Ltd.		23,900			622,822
Nabtesco Corp.		58,000			773,416
Sintokogio Ltd.		66,500			552,981
Toshiba Machine Co., Ltd.		155,000			660,210
Toyo Kanetsu K.K.		35,000			70,794
Tsubakimoto Chain Co.		146,000			701,563
Total Machinery-Diversified					6,665,770
Metal Fabricate/Hardware – 2.2%
Hanwa Co., Ltd.		165,000			699,272
JFE Shoji Holdings, Inc.(a)		162,000			683,091
Kitz Corp.		142,000			828,232
MISUMI Group, Inc.		29,600			607,585
Oiles Corp.		30,952			503,169
Onoken Co., Ltd.		20,200			181,809
Total Metal Fabricate/Hardware					3,503,158
Mining – 1.3%
Chuo Denki Kogyo Co., Ltd.		70,000			556,614
DOWA Holdings Co., Ltd.(a)		161,000			970,066
Nippon Denko Co., Ltd.		74,000			551,991
Total Mining					2,078,671
Miscellaneous Manufacturing – 1.8%
Amano Corp.		76,500			696,720
KUREHA Corp.		86,000			416,930
Shin-Etsu Polymer Co., Ltd.		62,300			474,051
Tamron Co., Ltd.		37,600			630,959
Tokai Rubber Industries, Inc.		43,700			597,695
Total Miscellaneous Manufacturing					2,816,355
Office Furnishings – 0.3%
Itoki Corp.		14,800			38,014
Okamura Corp.		80,000			511,130
Total Office Furnishings					549,144
Office/Business Equipment – 0.3%
Canon Finetech, Inc.		25,700			449,420
Oil & Gas – 0.2%
AOC Holdings, Inc.		52,200			322,898
Pharmaceuticals – 3.0%
Kaken Pharmaceutical Co., Ltd.		76,000			627,097
Kyorin Co., Ltd.		15,000			217,038
Miraca Holdings, Inc.		29,600			902,825

 

See Notes to Financial Statements.

 

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Table of Contents

Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Mochida Pharmaceutical Co., Ltd.		68,000		$	647,688
Nippon Shinyaku Co., Ltd.		58,000			657,342
Seikagaku Corp.		29,400			307,404
SSP Co., Ltd.(a)		74,000			560,702
Toho Holdings Co., Ltd.		44,300			580,300
ZERIA Pharmaceutical Co., Ltd.		17,000			181,207
Total Pharmaceuticals					4,681,603
Real Estate – 1.3%
Goldcrest Co., Ltd.		26,930			712,734
Heiwa Real Estate Co., Ltd.		172,500			518,756
Sumitomo Real Estate Sales Co., Ltd.(a)		17,620			765,595
Total Real Estate					1,997,085
Retail – 9.5%
Alpen Co., Ltd.		22,400			358,151
AOKI Holdings, Inc.		29,400			393,930
Arcs Co., Ltd.		30,910			417,140
ASKUL Corp.(a)		22,300			423,853
Chiyoda Co., Ltd.		37,200			459,426
Circle K Sunkus Co., Ltd.		39,400			488,705
DCM Japan Holdings Co., Ltd.		94,100			539,786
Don Quijote Co., Ltd.		18,300			457,108
Doutor Nichires Holdings Co., Ltd.		36,400			482,658
EDION Corp.		76,700			790,476
H2O Retailing Corp.(a)		92,000			629,152
Heiwado Co., Ltd.		30,800			395,548
Izumiya Co., Ltd.		74,000			324,700
Kojima Co., Ltd.		2,000			17,915
Komeri Co., Ltd.		21,000			547,250
K’s Holdings Corp.		21,120			518,733
Matsumotokiyoshi Holdings Co., Ltd.		15,600			353,104
Ministop Co., Ltd.		23,100			268,478
Nishimatsuya Chain Co., Ltd.		43,900			456,665
Parco Co., Ltd.		50,700			427,564
Plenus Co., Ltd.		37,000			497,742
Point, Inc.		12,870			771,319
Ryohin Keikaku Co., Ltd.		14,800			624,850
Saizeriya Co., Ltd.		29,900			539,826
Seiko Holdings Corp.*		37,000			97,410
Shimachu Co., Ltd.		21,700			463,076
Sundrug Co., Ltd.		15,700			373,009
Tsuruha Holdings, Inc.		14,000			501,926
United Arrows Ltd.		61,800			677,260
Valor Co., Ltd.		37,600			307,029
WATAMI Co., Ltd.(a)		14,820			271,214
Xebio Co., Ltd.		16,600			335,056
Zensho Co., Ltd.(a)		96,100			718,899
Total Retail					14,928,958
Semiconductors – 0.4%
Sanken Electric Co., Ltd.*		168,000			641,866

Investments		Shares		Value
Software – 2.0%
Capcom Co., Ltd.(a)		31,400		$	593,455
FUJI SOFT, Inc.		21,600			361,310
IT Holdings Corp.		30,400			370,240
Nihon Unisys Ltd.		51,200			343,562
NSD Co., Ltd.		46,200			555,250
Sumisho Computer Systems Corp.		30,000			435,359
Zenrin Co., Ltd.		40,800			489,041
Total Software					3,148,217
Storage/Warehousing – 0.5%
Mitsui-Soko Co., Ltd.		92,000			344,606
Sumitomo Warehouse Co., Ltd. (The)		95,000			421,929
Total Storage/Warehousing					766,535
Telecommunications – 0.9%
Hikari Tsushin, Inc.(a)		36,900			599,467
Hitachi Kokusai Electric, Inc.		84,000			839,640
Total Telecommunications					1,439,107
Textiles – 1.2%
Kurabo Industries Ltd.		230,000			391,374
Nitto Boseki Co., Ltd.*		220,000			468,536
Seiren Co., Ltd.		62,500			387,949
Toyobo Co., Ltd.		432,000			688,870
Total Textiles					1,936,729
Toys/Games/Hobbies – 0.2%
Tomy Co., Ltd.		49,400			384,880
Transportation – 2.4%
Fukuyama Transporting Co., Ltd.(a)		134,000			669,713
Iino Kaiun Kaisha Ltd.		68,500			456,716
Kintetsu World Express, Inc.		14,500			374,449
Nippon Konpo Unyu Soko Co., Ltd.		58,000			656,721
Sankyu, Inc.		162,000			799,251
Seino Holdings Corp.		73,000			520,312
Senko Co., Ltd.		88,000			323,031
Total Transportation					3,800,193
TOTAL COMMON STOCKS (Cost: $159,995,607)					155,693,205
SHORT-TERM INVESTMENT – 0.4%
MONEY MARKET FUND – 0.4%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $616,854)		616,854			616,854

 

See Notes to Financial Statements.

 

60		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2010

  

 

 

Investments		Shares		Value
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 10.5%
MONEY MARKET FUND – 10.5%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $16,486,133)(d)		16,486,133		$	16,486,133
TOTAL INVESTMENTS IN SECURITIES – 109.5% (Cost: $177,098,594)					172,796,192
Liabilities in Excess of Foreign Currency and Other Assets – (9.5)%					(14,946,281	)
NET ASSETS – 100.0%				$	157,849,911

 

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $15,671,174 and the total market value of the collateral held by the Fund was $16,486,133.

 

See Notes to Financial Statements.

 

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Table of Contents

Schedule of Investments

WisdomTree Pacific ex-Japan Total Dividend Fund (DND)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.8%
Australia – 55.2%
AGL Energy Ltd.		35,383		$	488,118
Amcor Ltd.		89,093			522,536
AMP Ltd.		172,215			989,503
APN News & Media Ltd.		73,447			155,725
Aristocrat Leisure Ltd.(a)		79,881			332,134
Australia & New Zealand Banking Group Ltd.		168,062			3,911,923
AXA Asia Pacific Holdings Ltd.		100,625			583,707
Bank of Queensland Ltd.		5,169			55,936
Bendigo and Adelaide Bank Ltd.(a)		47,510			436,070
BHP Billiton Ltd.		109,050			4,362,989
BlueScope Steel Ltd.*		155,200			414,530
Boral Ltd.		60,367			310,838
Brambles Ltd.		118,634			801,417
Coca-Cola Amatil Ltd.		45,019			464,858
Commonwealth Bank of Australia		104,217			5,384,451
Computershare Ltd.		34,441			395,778
Crown Ltd.		65,785			493,915
CSL Ltd.		12,819			428,632
CSR Ltd.		200,104			303,966
David Jones Ltd.		49,335			215,090
Downer EDI Ltd.		44,524			308,950
Fairfax Media Ltd.(a)		323,714			534,817
Foster’s Group Ltd.		116,851			567,361
Goodman Fielder Ltd.		224,903			295,191
Harvey Norman Holdings Ltd.		74,290			246,837
Incitec Pivot Ltd.		171,745			546,997
Insurance Australia Group Ltd.		85,600			304,844
Leighton Holdings Ltd.(a)		24,745			885,775
Lend Lease Group(b)		59,988			476,819
Macquarie Group Ltd.		18,506			802,576
Metcash Ltd.		87,019			330,663
National Australia Bank Ltd.		154,217			3,895,402
OneSteel Ltd.		116,566			417,261
Orica Ltd.		20,859			512,906
Origin Energy Ltd.		38,108			578,876
QBE Insurance Group Ltd.		67,433			1,289,239
Rio Tinto Ltd.		16,234			1,168,189
Santos Ltd.		26,642			358,486
Sims Metal Management Ltd.		12,556			249,621
Sonic Healthcare Ltd.		38,875			512,742
Suncorp-Metway Ltd.		134,987			1,058,087
TABCORP Holdings Ltd.		50,994			322,953
Telstra Corp., Ltd.		1,062,306			2,915,361
Toll Holdings Ltd.		49,849			339,494
Wesfarmers Ltd.		76,527			2,232,939
Westpac Banking Corp.		164,205			4,195,920
Woodside Petroleum Ltd.		27,268			1,173,810
Woolworths Ltd.		46,180			1,186,816
WorleyParsons Ltd.		14,510			338,943
Total Australia					49,099,991

Investments		Shares		Value
Hong Kong – 27.4%
Cheung Kong Holdings Ltd.		82,015		$	1,056,255
China Merchants Holdings International Co., Ltd.		152,539			561,852
China Mobile Ltd.		727,113			6,995,163
China Overseas Land & Investment Ltd.		145,707			329,144
China Resources Enterprise		152,009			564,795
China Unicom (Hong Kong) Ltd.		602,477			678,152
CLP Holdings Ltd.		124,031			886,540
CNOOC Ltd.		2,138,240			3,519,351
Hang Lung Group Ltd.		51,000			270,609
Hang Lung Properties Ltd.		139,000			560,318
Hang Seng Bank Ltd.		120,327			1,676,740
Henderson Land Development Co., Ltd.		60,000			422,682
Hong Kong & China Gas Co., Ltd.		193,539			482,558
Hong Kong Exchanges and Clearing Ltd.		47,604			794,555
Hongkong Electric Holdings Ltd.		113,025			670,316
Hutchison Whampoa Ltd.		171,000			1,250,892
MTR Corp.		89,530			338,993
New World Development Ltd.		166,022			325,001
Shanghai Industrial Holdings Ltd.		64,006			293,458
Sino Land Co., Ltd.		260,022			509,683
Sinotrans Shipping Ltd.		598,000			285,726
Sun Hung Kai Properties Ltd.		69,000			1,037,928
Television Broadcasts Ltd.		57,002			276,028
Wharf Holdings Ltd.		110,017			619,888
Total Hong Kong					24,406,627
New Zealand – 1.5%
Contact Energy Ltd.*		94,029			426,997
Fletcher Building Ltd.		72,663			430,510
Telecom Corp. of New Zealand Ltd.		330,461			508,818
Total New Zealand					1,366,325
Singapore – 14.7%
CapitaLand Ltd.		159,000			451,507
Cosco Corp. (Singapore) Ltd.(a)		392,000			347,684
DBS Group Holdings Ltd.		116,000			1,186,510
Fraser and Neave Ltd.		98,070			336,709
Jardine Cycle & Carriage Ltd.		24,250			509,613
Keppel Corp., Ltd.		112,000			730,618
Oversea-Chinese Banking Corp., Ltd.		158,000			984,357
Pacific Century Regional Developments Ltd.(a)		1,486,000			207,267
SembCorp Industries Ltd.		136,000			401,760
SembCorp Marine Ltd.		168,800			505,899
SIA Engineering Co., Ltd.		196,000			497,693
Singapore Airlines Ltd.		115,400			1,254,662
Singapore Airport Terminal Services Ltd.		295,172			559,498
Singapore Exchange Ltd.(a)		109,000			596,438
Singapore Press Holdings Ltd.		129,000			352,477
Singapore Technologies Engineering Ltd.		199,000			454,068
Singapore Telecommunications Ltd.		719,450			1,631,312
StarHub Ltd.		252,080			412,906
United Overseas Bank Ltd.		77,000			1,058,574
Wilmar International Ltd.		133,000			637,388
Total Singapore					13,116,940

 

See Notes to Financial Statements.

 

62		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Pacific ex-Japan Total Dividend Fund (DND)

March 31, 2010

  

 

 

Investments		Shares		Value
TOTAL COMMON STOCKS (Cost: $85,571,748)				$	87,989,883
SHORT-TERM INVESTMENT – 1.3%
MONEY MARKET FUND – 1.3%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(c)
(Cost: $1,136,149)		1,136,149			1,136,149
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.0%
MONEY MARKET FUND – 3.0%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(d)
(Cost: $2,705,022)(e)		2,705,022			2,705,022
TOTAL INVESTMENTS IN SECURITIES – 103.1% (Cost: $89,412,919)					91,831,054
Liabilities in Excess of Foreign Currency and Other Assets – (3.1)%					(2,797,756	)
NET ASSETS – 100.0%				$	89,033,298

 

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(c)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(d)	Interest rate shown reflects yield as of March 31, 2010.

 

(e)	At March 31, 2010, the total market value of the Fund’s securities on loan was $2,557,537 and the total market value of the collateral held by the Fund was $2,705,022.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		63

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Table of Contents

Schedule of Investments

WisdomTree Pacific ex-Japan Equity Income Fund (DNH)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.7%
Australia – 81.1%
Adelaide Brighton Ltd.		247,502		$	586,098
Amcor Ltd.		271,322			1,591,320
AMP Ltd.		633,074			3,637,478
APN News & Media Ltd.(a)		488,199			1,035,096
Aristocrat Leisure Ltd.(a)		250,824			1,042,891
Austereo Group Ltd.		154,562			242,589
Australia & New Zealand Banking Group Ltd.		468,720			10,910,240
Bank of Queensland Ltd.		79,545			860,792
Bendigo and Adelaide Bank Ltd.		162,968			1,495,801
Billabong International Ltd.(a)		88,027			912,990
Boral Ltd.		194,363			1,000,802
Bradken Ltd.		13,128			92,299
Centennial Coal Co., Ltd.		224,779			878,895
Challenger Financial Services Group Ltd.		294,478			1,135,203
Challenger Infrastructure Fund Class A(b)		359,004			504,153
Commonwealth Bank of Australia		234,441			12,112,572
ConnectEast Group(b)		2,472,551			1,021,244
Consolidated Media Holdings Ltd.(a)		329,802			953,532
Corporate Express Australia Ltd.(a)		121,306			622,394
Crane Group Ltd.		52,234			429,569
Cromwell Group		906,103			607,116
Crown Ltd.		214,295			1,608,929
CSR Ltd.		580,398			881,649
David Jones Ltd.(a)		214,878			936,822
Envestra Ltd.(b)		1,472,241			689,161
Fairfax Media Ltd.(a)		803,944			1,328,220
FKP Property Group		935,796			614,128
Flight Centre Ltd.(a)		61,811			1,190,263
Goodman Fielder Ltd.		709,319			930,999
GUD Holdings Ltd.		13,000			110,491
GWA International Ltd.(a)		251,875			767,529
Hills Industries Ltd.		1,186			2,874
Incitec Pivot Ltd.		544,205			1,733,259
Leighton Holdings Ltd.(a)		80,239			2,872,246
Lend Lease Group(b)		205,884			1,636,485
Monadelphous Group Ltd.		51,527			723,599
National Australia Bank Ltd.		380,441			9,609,644
Peet Ltd.		88,934			187,744
Perpetual Ltd.(a)		25,502			825,799
QBE Insurance Group Ltd.		248,857			4,757,849
Sigma Pharmaceuticals Ltd.		545,376			232,767
Suncorp-Metway Ltd.		472,864			3,706,514
Telstra Corp., Ltd.		2,573,445			7,062,487
UGL Ltd.(a)		70,316			971,320
Wesfarmers Ltd.		305,667			8,918,887
West Australian Newspapers Holdings Ltd.(a)		163,925			1,193,136
Total Australia					95,165,875
New Zealand – 4.4%
Air New Zealand Ltd.		719,943			648,761
Fletcher Building Ltd.		206,076			1,220,947
Sky City Entertainment Group Ltd.		276,170			630,980

Investments		Shares		Value
Telecom Corp. of New Zealand Ltd.		867,288		$	1,335,384
Vector Ltd.		489,711			736,646
Warehouse Group Ltd. (The)		247,458			658,439
Total New Zealand					5,231,157
Singapore – 13.2%
First Ship Lease Trust		1,347,000			592,543
Jaya Holdings Ltd.(a)		1,630,000			781,159
K1 Ventures Ltd.		5,818,000			707,457
MobileOne Ltd.		623,000			926,891
SIA Engineering Co., Ltd.		518,700			1,317,110
Singapore Airlines Ltd.		355,000			3,859,662
Singapore Airport Terminal Services Ltd.		762,330			1,444,994
Singapore Post Ltd.		987,000			741,282
Singapore Technologies Engineering Ltd.		893,000			2,037,602
StarHub Ltd.		737,000			1,207,203
Straits Asia Resources Ltd.(a)		549,000			848,210
Venture Corp., Ltd.		157,000			979,250
Total Singapore					15,443,363
TOTAL COMMON STOCKS (Cost: $109,884,005)					115,840,395
SHORT-TERM INVESTMENT – 1.4%
MONEY MARKET FUND – 1.4%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(c)
(Cost: $1,668,925)		1,668,925			1,668,925
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 12.7%
MONEY MARKET FUND – 12.7%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(d)
(Cost: $14,887,120)(e)		14,887,120			14,887,120
TOTAL INVESTMENTS IN SECURITIES – 112.8% (Cost: $126,440,050)					132,396,440
Liabilities in Excess of Foreign Currency and Other Assets – (12.8)%					(15,057,834	)
NET ASSETS – 100.0%				$	117,338,606

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(c)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(d)	Interest rate shown reflects yield as of March 31, 2010.

 

(e)	At March 31, 2010, the total market value of the Fund’s securities on loan was $14,111,153 and the total market value of the collateral held by the Fund was $14,887,120.

 

See Notes to Financial Statements.

 

64		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.1%
Australia – 8.3%
Australia & New Zealand Banking Group Ltd.		65,311		$	1,520,223
BHP Billiton Ltd.		52,205			2,088,673
Commonwealth Bank of Australia		36,871			1,904,968
National Australia Bank Ltd.		54,326			1,372,233
QBE Insurance Group Ltd.		41,472			792,895
Telstra Corp., Ltd.		379,911			1,042,617
Wesfarmers Ltd.		33,345			972,955
Westpac Banking Corp.		53,178			1,358,854
Woodside Petroleum Ltd.		15,721			676,744
Woolworths Ltd.		26,273			675,211
Total Australia					12,405,373
Austria – 0.4%
Bank Austria Creditanstalt AG*(a)		1,715			—
Verbund-Oesterreichische Elektrizitaetswirtschafts AG Class A(b)		13,874			551,736
Total Austria					551,736
Belgium – 0.6%
Belgacom S.A.		21,266			832,173
Denmark – 0.5%
Novo Nordisk A/S Class B		8,688			675,377
Finland – 1.4%
Fortum Oyj(b)		33,327			816,666
Nokia Oyj		79,529			1,240,751
Total Finland					2,057,417
France – 14.5%
Accor S.A.		7,867			436,012
Air Liquide S.A.		6,262			753,090
AXA S.A.		37,039			825,434
BNP Paribas		8,589			660,814
Bouygues S.A.		11,993			603,996
Carrefour S.A.		16,470			795,260
Christian Dior S.A.		215			22,977
Compagnie de Saint-Gobain		14,725			709,308
Credit Agricole S.A.		44,219			775,432
Danone		10,765			649,649
Electricite de France		25,283			1,382,101
France Telecom S.A.		75,448			1,808,500
GDF Suez		42,406			1,641,055
Lafarge S.A.		7,532			530,979
L’Oreal S.A.		6,351			669,093
LVMH Moet Hennessy Louis Vuitton S.A.		7,633			893,803
PPR		406			54,150
Sanofi-Aventis S.A.		23,193			1,731,996
Schneider Electric S.A.		6,880			808,422
Societe Generale		8,193			516,217
Sodexo		1,293			77,418
TOTAL S.A.		51,181			2,976,493
Veolia Environnement		15,846			550,610
Vinci S.A.		11,701			690,856

Investments		Shares		Value
Vivendi S.A.		43,908		$	1,177,247
Total France					21,740,912
Germany – 9.6%
Allianz SE		11,823			1,485,066
BASF SE		29,910			1,858,438
Bayer AG		11,591			785,443
Deutsche Post AG		42,654			741,350
Deutsche Telekom AG		157,824			2,142,990
E.ON AG		47,275			1,748,559
Muenchener Rueckversicherungs AG		6,804			1,106,160
RWE AG		18,027			1,600,136
SAP AG		14,649			710,801
Siemens AG		12,617			1,265,893
ThyssenKrupp AG		23,744			817,818
Volkswagen AG		1,492			144,346
Total Germany					14,407,000
Hong Kong – 5.4%
Cheung Kong (Holdings) Ltd.		6,000			77,273
China Mobile Ltd.		265,919			2,558,263
CLP Holdings Ltd.		62,110			443,946
CNOOC Ltd.		1,102,529			1,814,664
Hang Lung Properties Ltd.		28,000			112,870
Hang Seng Bank Ltd.		65,495			912,663
Hutchison Whampoa Ltd.		125,000			914,395
Sino Land Co., Ltd.		26,000			50,964
Sun Hung Kai Properties Ltd.		70,442			1,059,619
Wharf Holdings Ltd.		19,000			107,055
Total Hong Kong					8,051,712
Italy – 4.7%
Atlantia SpA		20,559			480,701
Enel SpA		335,798			1,881,084
ENI SpA		119,701			2,813,373
Mediobanca SpA*		64,100			689,966
Snam Rete Gas SpA		145,191			737,208
Telecom Italia SpA		317,422			457,851
Total Italy					7,060,183
Japan – 10.0%
Astellas Pharma, Inc.		19,900			720,906
Canon, Inc.		32,500			1,506,047
Honda Motor Co., Ltd.		33,000			1,165,454
JFE Holdings, Inc.		21,200			854,217
Kansai Electric Power Co., Inc. (The)		28,300			648,744
Mitsubishi Corp.		43,800			1,148,437
Mitsubishi UFJ Financial Group, Inc.		168,300			882,566
Mitsui & Co., Ltd.		61,200			1,028,951
Mizuho Financial Group, Inc.(b)		331,598			656,524
Nippon Telegraph & Telephone Corp.		24,194			1,020,166
NTT DoCoMo, Inc.(b)		807			1,229,846
Panasonic Corp.		58,200			890,689
Takeda Pharmaceutical Co., Ltd.(b)		25,900			1,140,609
Tokyo Electric Power Co., Inc. (The)		30,100			802,753

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		65

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Table of Contents

Schedule of Investments (concluded)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2010

  

 

 

Investments		Shares		Value
Toyota Motor Corp.		30,400		$	1,218,408
Total Japan					14,914,317
Netherlands – 2.4%
Koninklijke KPN N.V.		59,274			940,788
Koninklijke Philips Electronics N.V.(b)		38,705			1,243,305
Unilever N.V. CVA		47,579			1,441,770
Total Netherlands					3,625,863
Norway – 1.3%
Statoil ASA		87,180			2,020,986
Portugal – 0.5%
Portugal Telecom, SGPS, S.A.		65,718			736,105
Singapore – 1.6%
CapitaLand Ltd.		24,000			68,152
DBS Group Holdings Ltd.		57,000			583,027
Singapore Airlines Ltd.		87,000			945,889
Singapore Telecommunications Ltd.		332,500			753,925
Total Singapore					2,350,993
Spain – 8.1%
ACS Actividades de Construccion y Servicios, S.A.		13,608			628,987
Banco Bilbao Vizcaya Argentaria S.A.		99,452			1,363,178
Banco Popular Espanol S.A.(b)		57,045			420,672
Banco Santander S.A.		246,367			3,280,253
Criteria Caixacorp S.A.		172,406			855,914
Iberdrola S.A.		110,512			938,324
Inditex S.A.		14,757			974,523
Repsol YPF S.A.		44,503			1,055,604
Telefonica S.A.		110,934			2,632,837
Total Spain					12,150,292
Sweden – 2.1%
Hennes & Mauritz AB Class B		19,060			1,242,329
Nordea Bank AB(b)		57,940			573,604
Sandvik AB		54,471			683,063
TeliaSonera AB*(b)		99,293			707,068
Total Sweden					3,206,064
Switzerland – 6.7%
Holcim Ltd.*		10,146			757,661
Nestle S.A.		58,775			3,015,391
Novartis AG		44,637			2,415,161
Roche Holding AG		9,712			1,577,837
SGS S.A.		480			663,075
Swisscom AG		1,267			463,200
Zurich Financial Services AG		4,628			1,188,493
Total Switzerland					10,080,818
United Kingdom – 21.0%
AstraZeneca PLC		29,233			1,303,257
Aviva PLC		111,513			651,751
BAE Systems PLC		82,525			464,802
BHP Billiton PLC		44,221			1,515,982
BP PLC		517,202			4,890,847
British American Tobacco PLC		44,511			1,533,689

Investments		Shares		Value
British Sky Broadcasting Group PLC		53,541		$	488,923
BT Group PLC		476,286			895,151
Centrica PLC		120,137			535,591
Diageo PLC		54,895			920,969
GlaxoSmithKline PLC		98,369			1,888,328
HSBC Holdings PLC		311,596			3,157,370
Imperial Tobacco Group PLC		22,958			699,983
National Grid PLC		62,918			612,250
Reckitt Benckiser Group PLC		9,805			537,964
Rio Tinto PLC		22,549			1,335,689
Royal Dutch Shell PLC Class A		69,857			2,023,953
Royal Dutch Shell PLC Class B		70,210			1,933,536
Scottish & Southern Energy PLC		20,790			347,215
Standard Chartered PLC		36,802			1,003,454
Tesco PLC		157,189			1,038,287
Unilever PLC		31,001			909,942
Vodafone Group PLC		1,173,099			2,704,801
Total United Kingdom					31,393,734
TOTAL COMMON STOCKS (Cost: $156,718,874)					148,261,055
RIGHTS – 0.0%
Germany – 0.0%
Volkswagen AG, expiring 4/13/10* (Cost: $0)		1,492			929
TOTAL LONG-TERM INVESTMENTS (Cost: $156,718,874)					148,261,984
SHORT-TERM INVESTMENT – 0.9%
MONEY MARKET FUND – 0.9%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(c)
(Cost: $1,281,520)		1,281,520			1,281,520
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 4.1%
MONEY MARKET FUND – 4.1%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(d)
(Cost: $6,188,050)(e)		6,188,050			6,188,050
TOTAL INVESTMENTS IN SECURITIES – 104.1% (Cost: $164,188,444)					155,731,554
Liabilities in Excess of Foreign Currency and Other Assets – (4.1)%					(6,107,264	)
NET ASSETS – 100.0%				$	149,624,290

 

*	Non-income producing security.

 

(a)	Escrow security – additional shares issued as a result of a corporate action.

 

(b)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(c)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(d)	Interest rate shown reflects yield as of March 31, 2010.

 

(e)	At March 31, 2010, the total market value of the Fund’s securities on loan was $5,886,074 and the total market value of the collateral held by the Fund was $6,188,050.

 

See Notes to Financial Statements.

 

66		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree International Dividend ex-Financials Fund (DOO)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.9%
Australia – 4.9%
Foster’s Group Ltd.		258,265		$	1,253,986
Orica Ltd.		87,332			2,147,424
Origin Energy Ltd.		60,785			923,349
Telstra Corp., Ltd.		660,768			1,813,392
Wesfarmers Ltd.		67,415			1,967,065
Total Australia					8,105,216
Austria – 2.1%
OMV AG		38,882			1,461,539
Telekom Austria AG		143,064			2,003,551
Total Austria					3,465,090
Belgium – 3.4%
Anheuser-Busch InBev N.V.		29,811			1,504,378
Belgacom S.A.		72,346			2,831,017
Solvay S.A.		11,459			1,180,098
Total Belgium					5,515,493
Finland – 3.0%
Fortum Oyj(a)		64,161			1,572,242
Nokia Oyj		91,791			1,432,053
UPM-Kymmene Oyj(a)		139,636			1,856,349
Total Finland					4,860,644
France – 16.1%
Accor S.A.		37,930			2,102,193
Cap Gemini S.A.		22,395			1,105,138
Compagnie de Saint-Gobain		35,662			1,717,851
France Telecom S.A.		122,853			2,944,806
Lafarge S.A.		23,263			1,639,960
Lagardere SCA		40,471			1,640,648
PPR		18,171			2,423,557
Sanofi-Aventis S.A.		19,397			1,448,520
Schneider Electric S.A.		16,988			1,996,143
Technip S.A.		17,912			1,459,050
TOTAL S.A.		23,076			1,342,013
Vallourec S.A.		17,380			3,511,068
Veolia Environnement		47,021			1,633,867
Vivendi S.A.		54,009			1,448,071
Total France					26,412,885
Germany – 10.5%
BASF SE		46,061			2,861,969
Bayer AG		17,474			1,184,095
Deutsche Post AG		202,412			3,518,034
Deutsche Telekom AG		174,428			2,368,445
E.ON AG		36,727			1,358,421
Metro AG		20,755			1,233,431
RWE AG		18,475			1,639,902
SAP AG		13,623			661,017
ThyssenKrupp AG		72,401			2,493,718
Total Germany					17,319,032
Hong Kong – 0.8%
CNOOC Ltd.		804,000			1,323,312

Investments		Shares		Value
Italy – 10.9%
Enel SpA		536,284		$	3,004,173
ENI SpA		83,804			1,969,674
Mediaset SpA		402,149			3,460,778
Parmalat SpA		1,233,023			3,382,686
Telecom Italia SpA RSP		3,698,745			4,178,983
Terna Rete Elettrica Nazionale SpA(a)		440,389			1,908,338
Total Italy					17,904,632
Japan – 5.1%
Astellas Pharma, Inc.		21,700			786,114
Canon, Inc.		24,400			1,130,693
Daiichi Sankyo Co., Ltd.		58,700			1,099,997
Eisai Co., Ltd.(a)		36,800			1,313,442
Fujitsu Ltd.		82,000			537,072
Konica Minolta Holdings, Inc.		55,500			648,015
Ricoh Co., Ltd.		50,000			781,250
Takeda Pharmaceutical Co., Ltd.(a)		26,600			1,171,436
TDK Corp.		13,400			891,995
Total Japan					8,360,014
Netherlands – 7.6%
Akzo Nobel N.V.		36,589			2,089,013
Koninklijke DSM N.V.		36,613			1,635,597
Reed Elsevier N.V.		118,084			1,437,695
STMicroelectronics N.V.		165,418			1,649,605
TNT N.V.		79,303			2,278,082
Unilever N.V. CVA		54,952			1,665,192
Wolters Kluwer N.V.		81,264			1,765,380
Total Netherlands					12,520,564
Norway – 1.6%
Orkla ASA		171,781			1,520,813
Statoil ASA		48,009			1,112,934
Total Norway					2,633,747
Portugal – 2.4%
Portugal Telecom, SGPS, S.A.		354,431			3,969,966
Singapore – 1.7%
Singapore Airlines Ltd.		263,000			2,859,411
Singapore Airport Terminal Services Ltd.		380			720
Total Singapore					2,860,131
Spain – 1.9%
ACS Actividades de Construccion y Servicios, S.A.		26,194			1,210,736
Repsol YPF S.A.		78,213			1,855,199
Total Spain					3,065,935
Sweden – 4.5%
Sandvik AB		295,437			3,704,764
SKF AB Class B		134,786			2,402,813
Svenska Cellulosa AB Class B*		89,601			1,267,387
Total Sweden					7,374,964

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		67

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Table of Contents

Schedule of Investments (concluded)

WisdomTree International Dividend ex-Financials Fund (DOO)

March 31, 2010

  

 

 

Investments		Shares		Value
Switzerland – 2.4%
Holcim Ltd.*		24,443		$	1,825,300
Novartis AG		23,102			1,249,973
Roche Holding AG		5,131			833,596
Total Switzerland					3,908,869
United Kingdom – 19.2%
AstraZeneca PLC		35,928			1,601,732
BP PLC		237,081			2,241,923
British American Tobacco PLC		47,207			1,626,583
BT Group PLC		3,082,380			5,793,148
Diageo PLC		85,964			1,442,211
GlaxoSmithKline PLC		90,668			1,740,497
Home Retail Group PLC		416,457			1,711,972
J. Sainsbury PLC		208,542			1,036,322
Marks & Spencer Group PLC		365,048			2,049,397
National Grid PLC		192,729			1,875,430
Royal Dutch Shell PLC Class B		70,983			1,954,824
Sage Group PLC (The)		334,488			1,213,158
Severn Trent PLC		109,612			1,986,932
United Utilities Group PLC		387,025			3,281,768
Vodafone Group PLC		879,176			2,027,106
Total United Kingdom					31,583,003
United States – 0.8%
Kraft Foods, Inc. Class A		42,979			1,299,685
TOTAL COMMON STOCKS (Cost: $153,530,560)					162,483,182
SHORT-TERM INVESTMENT – 0.2%
MONEY MARKET FUND – 0.2%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $428,358)		428,358			428,358
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.5%
MONEY MARKET FUND – 2.5%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $4,105,033)(d)		4,105,033			4,105,033
TOTAL INVESTMENTS IN SECURITIES – 101.6% (Cost: $158,063,951)					167,016,573
Liabilities in Excess of Foreign Currency and Other Assets – (1.6)%					(2,679,041	)
NET ASSETS – 100.0%				$	164,337,532

RSP – Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $3,899,284 and the total market value of the collateral held by the Fund was $4,105,033.

 

See Notes to Financial Statements.

 

68		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.3%
Australia – 9.8%
AGL Energy Ltd.		22,448		$	309,677
Amcor Ltd.		102,561			601,526
Aristocrat Leisure Ltd.(a)		90,765			377,388
AXA Asia Pacific Holdings Ltd.		132,055			766,026
Billabong International Ltd.(a)		25,549			264,987
BlueScope Steel Ltd.*		168,471			449,976
Boral Ltd.		61,244			315,354
Brambles Ltd.		135,623			916,184
Coca-Cola Amatil Ltd.		61,363			633,623
Computershare Ltd.		28,365			325,956
Crown Ltd.		78,170			586,901
CSR Ltd.		219,474			333,390
Fairfax Media Ltd.(a)		252,563			417,267
Felix Resources Ltd. In Specie*† ††		16,737			1,562
Harvey Norman Holdings Ltd.(a)		97,792			324,925
Incitec Pivot Ltd.		198,214			631,299
Insurance Australia Group Ltd.		108,802			387,472
Leighton Holdings Ltd.(a)		30,328			1,085,625
Lend Lease Group(b)		62,149			493,996
Metcash Ltd.		54,550			207,284
OneSteel Ltd.		127,986			458,141
Orica Ltd.		27,034			664,744
Sims Metal Management Ltd.		13,472			267,832
Sonic Healthcare Ltd.		64,280			847,821
Suncorp-Metway Ltd.		182,020			1,426,752
TABCORP Holdings Ltd.		43,866			277,811
Tatts Group Ltd.		107,031			241,666
Toll Holdings Ltd.		49,320			335,891
WorleyParsons Ltd.		16,407			383,256
Total Australia					14,334,332
Austria – 2.9%
EVN AG		12,208			212,430
Oesterreichische Post AG		11,861			346,500
Raiffeisen International Bank Holding AG(a)		13,382			637,373
Strabag SE		10,939			278,565
Telekom Austria AG		57,587			806,482
Vienna Insurance Group		10,031			530,702
voestalpine AG		34,455			1,396,300
Total Austria					4,208,352
Belgium – 1.2%
Cofinimmo		2,200			310,631
Mobistar S.A.		6,984			430,591
UCB S.A.		14,359			614,253
Umicore		12,027			420,757
Total Belgium					1,776,232
Denmark – 0.5%
D/S Norden		7,607			331,136
H. Lundbeck A/S		11,438			216,000
TrygVesta A/S		3,167			209,410
Total Denmark					756,546

Investments		Shares		Value
Finland – 3.5%
Elisa Oyj*		16,864		$	348,441
Kesko Oyj Class B(a)		7,915			312,083
Metso Oyj		15,284			494,477
Neste Oil Oyj*		36,246			633,164
Nokian Renkaat Oyj*		8,901			231,605
Outokumpu Oyj(a)		16,489			362,558
Pohjola Bank PLC		20,006			225,223
Rautaruukki Oyj(a)		24,422			528,726
Sanoma Oyj*		25,269			560,740
UPM-Kymmene Oyj(a)		61,426			816,610
Wartsila Oyj		11,953			606,510
Total Finland					5,120,137
France – 11.3%
Aeroports de Paris		5,598			461,751
Arkema S.A.		2,194			81,372
Bourbon S.A.		1,480			64,093
Bureau Veritas S.A.		5,321			282,954
Cap Gemini S.A.		12,537			618,670
Casino Guichard Perrachon S.A.		9,368			794,141
Ciments Francais S.A.		3,262			313,336
Dassault Systemes S.A.		2,195			130,074
Eiffage S.A.		5,375			278,516
Eramet(a)		1,371			472,772
Etablissements Maurel et Prom		26,369			429,764
ICADE		4,591			511,938
Imerys S.A.		7,135			440,625
Ipsen S.A.		1,002			49,019
Klepierre		23,412			921,218
Lagardere SCA(a)		13,386			542,653
Legrand S.A.		28,211			892,850
M6-Metropole Television		20,640			534,821
Neopost S.A.		6,165			493,588
Nexans S.A.		1,904			162,590
Nexity		9,142			359,968
PagesJaunes Groupe(a)		71,060			817,478
Publicis Groupe S.A.		14,194			608,443
Remy Cointreau S.A.		6,851			354,581
Sa des Ciments Vicat		3,454			271,116
Safran S.A.		43,070			1,124,765
SCOR SE		29,368			743,097
SEB S.A.		403			26,782
Societe BIC S.A.		4,048			310,511
Societe Immobiliere de Location pour l’Industrie et le Commerce		2,575			325,741
Societe Television Francaise 1		28,746			534,239
Technip S.A.		9,773			796,075
Vallourec S.A.		8,403			1,697,555
Zodiac Aerospace		1,945			95,849
Total France					16,542,945
Germany – 3.8%
Adidas AG		7,234			387,618
Bilfinger Berger AG		5,133			343,071

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		69

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Table of Contents

Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2010

  

 

 

Investments		Shares		Value
Celesio AG		21,277		$	681,457
Fielmann AG		3,540			285,530
Fraport AG Frankfurt Airport Services Worldwide		6,563			346,202
Gea Group AG		15,416			357,947
Hamburger Hafen Und Logistik AG		4,761			180,959
Henkel AG & Co. KGaA		12,897			598,654
Hochtief AG		5,753			484,344
Salzgitter AG		2,663			247,655
SMA Solar Technology AG		276			33,891
Suedzucker AG		13,352			295,208
Symrise AG		13,510			322,283
Tognum AG		19,089			359,544
Wacker Chemie AG		2,170			324,159
Wincor Nixdorf AG		4,543			308,279
Total Germany					5,556,801
Hong Kong – 3.2%
Beijing Enterprises Holdings Ltd.		39,000			270,976
China Resources Enterprise		206,162			766,002
Guangdong Investment Ltd.		460,808			249,255
Hang Lung Group Ltd.		95,000			504,076
Hopewell Holdings Ltd.		102,662			304,097
Hysan Development Co., Ltd.		158,000			456,824
New World Development Ltd.		257,482			504,041
Shanghai Industrial Holdings Ltd.		109,000			499,749
Sino-Ocean Land Holdings Ltd.		112,000			98,662
Sinotrans Shipping Ltd.		747,000			356,919
Television Broadcasts Ltd.		62,074			300,589
Wheelock & Co., Ltd.		97,000			286,077
Yuexiu Property Co., Ltd.		372,000			100,130
Total Hong Kong					4,697,397
Italy – 5.7%
A2A SpA		366,424			688,677
Banca Carige SpA		152,769			418,074
Beni Stabili SpA		500,654			485,721
Buzzi Unicem SpA		12,701			160,257
Credito Emiliano SpA*		69,815			483,669
Edison SpA(a)		447,493			683,007
ERG SpA		14,063			198,469
Fondiaria-Sai SpA		14,825			223,465
Geox SpA		29,397			204,255
Hera SpA		103,067			242,800
Iride SpA		124,352			241,454
Lottomatica SpA		12,624			241,191
Mediaset SpA		164,427			1,415,012
Mediolanum SpA		60,036			351,949
Parmalat SpA		196,526			539,151
Prysmian SpA		17,473			344,001
Societa Cattolica di Assicurazioni S.c.r.l.*		7,789			246,198
Telecom Italia SpA RSP		967,807			1,093,465
Total Italy					8,260,815
Japan – 18.4%
ACOM Co., Ltd.(a)		22,130			362,360
Aeon Mall Co., Ltd.		10,000			210,938

Investments		Shares		Value
Aisin Seiki Co., Ltd.		19,200		$	575,342
Ajinomoto Co., Inc.		55,000			545,056
Asahi Breweries Ltd.		29,400			551,565
Asahi Kasei Corp.		102,000			549,080
Bank of Yokohama Ltd. (The)		102,000			499,957
Chiba Bank Ltd. (The)(a)		72,000			430,736
Chuo Mitsui Trust Holdings, Inc.		98,000			368,129
Daito Trust Construction Co., Ltd.		10,400			501,969
Daiwa House Industry Co., Ltd.		50,000			564,533
Electric Power Development Co., Ltd.		10,600			349,401
Hitachi Construction Machinery Co., Ltd.(a)		22,900			541,375
Hokkaido Electric Power Co., Inc.(a)		17,500			335,991
Hokuriku Electric Power Co.(a)		13,000			286,045
JS Group Corp.		34,300			698,554
JSR Corp.		24,000			501,627
Konica Minolta Holdings, Inc.		51,500			601,311
Kuraray Co., Ltd.		34,500			464,480
Kyowa Hakko Kirin Co., Ltd.(a)		44,000			454,409
Lawson, Inc.		13,200			563,656
Makita Corp.		13,300			438,399
Marui Group Co., Ltd.		51,400			372,958
Mitsubishi Chemical Holdings Corp.		114,500			585,734
Mitsubishi Tanabe Pharma Corp.		44,000			621,575
Nikon Corp.		15,000			327,643
Nippon Express Co., Ltd.		117,000			503,360
Nippon Mining Holdings, Inc.		67,500			310,266
Nippon Paper Group, Inc.		14,200			365,486
Nippon Yusen K.K.		120,000			473,887
Nitto Denko Corp.		16,300			633,230
Nomura Real Estate Holdings, Inc.		16,600			256,177
Nomura Research Institute Ltd.		17,300			394,360
OJI Paper Co., Ltd.		100,000			438,784
Oracle Corp.		15,668			726,892
Osaka Gas Co., Ltd.		100,000			358,519
Panasonic Electric Works Co., Ltd.		67,000			846,104
Sankyo Co., Ltd.		6,800			336,580
Sekisui Chemical Co., Ltd.		46,000			312,115
Sekisui House Ltd.		42,000			419,820
Shikoku Electric Power Co., Inc.		10,600			300,507
Shionogi & Co., Ltd.		18,000			342,509
Shiseido Co., Ltd.(a)		33,600			729,966
Shizuoka Bank Ltd. (The)		50,000			436,109
Showa Shell Sekiyu K.K.		41,900			283,399
Sompo Japan Insurance, Inc.		80,000			544,521
Stanley Electric Co., Ltd.		9,700			188,207
Sumitomo Chemical Co., Ltd.		103,000			503,756
Sumitomo Realty & Development Co., Ltd.		21,000			399,818
Sumitomo Rubber Industries, Inc.		18,000			158,733
TDK Corp.		13,300			885,338
Tokyo Tatemono Co., Ltd.		45,000			161,815
Tokyu Land Corp.		59,000			225,417
TonenGeneral Sekiyu K.K.		58,104			490,626
Toppan Printing Co., Ltd.		49,000			442,594
Toray Industries, Inc.(a)		76,000			444,092

 

See Notes to Financial Statements.

 

70		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2010

  

 

 

Investments		Shares		Value
Toyota Tsusho Corp.		27,900		$	437,729
Trend Micro, Inc.		11,000			383,776
Yamaha Corp.		21,900			282,891
Yamato Holdings Co., Ltd.		42,000			590,625
Total Japan					26,910,831
Netherlands – 2.8%
Fugro N.V. CVA		8,934			584,967
Imtech N.V.		7,124			228,552
Koninklijke Boskalis Westminster N.V.		16,066			616,841
Koninklijke DSM N.V.(a)		17,069			762,516
SBM Offshore N.V.		17,329			347,380
STMicroelectronics N.V.		83,775			835,433
Wolters Kluwer N.V.		29,198			634,298
Total Netherlands					4,009,987
New Zealand – 0.8%
Contact Energy Ltd.*		44,030			199,946
Fletcher Building Ltd.		74,995			444,326
Telecom Corp. of New Zealand Ltd.		339,865			523,298
Total New Zealand					1,167,570
Norway – 0.5%
Fred Olsen Energy ASA		19,626			752,214
Portugal – 1.8%
Banco BPI S.A. Registered Shares		88,519			235,717
Banco Comercial Portugues S.A. Class R*(a)		222,048			247,573
Banco Espirito Santo S.A.		92,066			498,298
Brisa Auto-Estradas de Portugal S.A.		67,419			572,891
Cimpor Cimentos de Portugal SGPS S.A.		57,829			437,800
Jeronimo Martins, SGPS, S.A.		32,474			329,554
Sonae(a)		210,860			251,077
Total Portugal					2,572,910
Singapore – 3.8%
Cosco Corp.(Singapore) Ltd.(a)		389,000			345,023
Fraser and Neave Ltd.		118,402			406,516
Jardine Cycle & Carriage Ltd.		26,904			565,387
Keppel Land Ltd.		56,000			147,005
SembCorp Industries Ltd.		171,000			505,154
SembCorp Marine Ltd.		208,360			624,462
SIA Engineering Co., Ltd.		185,536			471,122
Singapore Exchange Ltd.(a)		127,000			694,932
Singapore Press Holdings Ltd.		167,148			456,711
Singapore Technologies Engineering Ltd.		356,000			812,303
StarHub Ltd.		255,594			418,662
UOL Group Ltd.		37,000			103,215
Total Singapore					5,550,492
Spain – 4.8%
Acerinox S.A.		19,192			378,494
Antena 3 de Television S.A.		38,066			421,328
Banco Pastor S.A.(a)		73,618			427,836
Bankinter, S.A.(a)		34,817			290,203
Bolsas y Mercados Espanoles S.A.(a)		16,266			436,229
Enagas		20,581			451,836

Investments		Shares		Value
Ferrovial S.A.		98,632		$	960,904
Fomento de Construcciones y Contratas S.A.(a)		16,531			606,287
Gestevision Telecinco S.A.		55,540			873,256
Grupo Catalana Occidente S.A.		11,602			236,579
Indra Sistemas S.A.		18,000			369,721
Red Electrica Corp. S.A.		8,604			462,597
Sociedad General de Aguas de Barcelona S.A. Class A		10,714			288,637
Tecnicas Reunidas, S.A.		5,727			360,725
Zardoya Otis, S.A.(a)		26,447			459,127
Total Spain					7,023,759
Sweden – 5.5%
Alfa Laval AB		29,369			433,781
Assa Abloy AB Class B		25,163			494,030
Atlas Copco AB Class B		37,636			529,215
Hakon Invest AB		23,897			458,217
Kinnevik Investment AB Class B		19,506			360,469
Ratos AB Class B*		20,599			685,489
Scania AB Class B		43,471			689,786
Securitas AB Class B		40,213			430,235
Skanska AB Class B		51,441			937,760
SKF AB Class B		31,016			552,918
SSAB AB Class A(a)		22,173			399,897
Svenska Cellulosa AB Class B*		46,290			654,762
Swedish Match AB		22,194			532,261
Tele2 AB Class B		50,756			849,812
Total Sweden					8,008,632
Switzerland – 3.0%
Baloise Holding AG		4,812			427,459
BKW FMB Energie AG		2,940			218,849
EMS-Chemie Holding AG		3,752			515,452
Geberit AG		3,669			657,774
Partners Group Holding AG		3,003			425,964
Schindler Holding AG		5,260			457,761
Schindler Holding AG Participating Shares		4,505			397,192
Sulzer AG		3,721			362,360
Swatch Group AG (The)		6,259			372,846
Swatch Group AG (The) Class B		1,739			555,462
Total Switzerland					4,391,119
United Kingdom – 16.0%
Admiral Group PLC		25,590			512,391
Amlin PLC		39,449			232,240
Ashmore Group PLC		94,779			379,122
Balfour Beatty PLC		40,110			177,783
British Land Co. PLC		136,290			994,618
Bunzl PLC		27,831			304,384
Burberry Group PLC		29,435			319,024
Cable & Wireless Communications PLC		240,635			202,038
Cable & Wireless Worldwide*		240,635			335,818
Capita Group PLC (The)		21,090			242,015
Carillion PLC		51,033			252,982
Close Brothers Group PLC		20,092			236,201

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		71

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Table of Contents

Schedule of Investments (concluded)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2010

  

 

 

Investments		Shares		Value
Cobham PLC		65,593		$	255,710
Daily Mail & General Trust N.V. Class A		37,874			285,877
Drax Group PLC		64,507			365,570
Firstgroup PLC		40,938			222,935
G4S PLC		81,957			325,098
Hammerson PLC		123,309			735,845
Hays PLC		197,082			324,365
Home Retail Group PLC		93,647			384,964
ICAP PLC		48,479			274,884
IMI PLC		46,167			462,203
Inmarsat PLC		32,731			375,352
Intercontinental Hotels Group PLC(a)		22,497			352,177
International Power PLC		120,101			580,976
Investec PLC		53,528			437,650
Johnson Matthey PLC		12,808			339,221
Kingfisher PLC		116,397			378,550
Ladbrokes PLC		80,122			193,244
Legal & General Group PLC		652,312			871,248
London Stock Exchange Group PLC		19,920			214,689
Man Group PLC		247,169			905,458
Marks & Spencer Group PLC		161,200			904,985
Meggitt PLC		72,702			337,131
Next PLC		13,198			433,234
Northumbrian Water Group PLC		47,305			203,144
Pennon Group PLC		23,137			183,379
Provident Financial PLC		23,129			304,357
RSA Insurance Group PLC		328,618			635,563
Sage Group PLC (The)		121,962			442,345
Schroders PLC		19,434			414,776
Segro PLC		270,413			1,310,966
Severn Trent PLC		21,890			396,799
Smith & Nephew PLC		90,151			897,765
Smiths Group PLC		33,939			584,837
Standard Life PLC		226,797			689,089
Tate & Lyle PLC		68,794			473,974
Thomas Cook Group PLC		68,237			279,267
Tomkins PLC		100,307			359,088
TUI Travel PLC		74,173			339,227
United Utilities Group PLC		102,375			868,086
Vedanta Resources PLC(a)		11,379			479,160
Whitbread PLC		14,513			324,498
Total United Kingdom					23,336,302
TOTAL COMMON STOCKS (Cost: $155,218,125)					144,977,373
RIGHTS – 0.0%
Spain – 0.0%
Banco Pastor S.A., expiring 4/19/10*(a) (Cost: $0)		73,618			9,563
TOTAL LONG-TERM INVESTMENTS (Cost: $155,218,125)					144,986,936

Investments		Shares		Value
SHORT-TERM INVESTMENT – 0.6%
MONEY MARKET FUND – 0.6%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(c)
(Cost: $856,102)		856,102		$	856,102
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 9.6%
MONEY MARKET FUND – 9.6%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(d)
(Cost: $14,078,114)(e)		14,078,114			14,078,114
TOTAL INVESTMENTS IN SECURITIES – 109.5% (Cost: $170,152,341)					159,921,152
Liabilities in Excess of Foreign Currency and Other Assets – (9.5)%					(13,852,210	)
NET ASSETS – 100.0%				$	146,068,942

RSP – Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $1,562, which represents .0011% of net assets.

 

††	Restricted security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(c)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(d)	Interest rate shown reflects yield as of March 31, 2010.

 

(e)	At March 31, 2010, the total market value of the Fund’s securities on loan was $13,384,845 and the total market value of the collateral held by the Fund was $14,078,114.

 

See Notes to Financial Statements.

 

72		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.5%
Australia – 15.1%
Adelaide Brighton Ltd.		520,287		$	1,232,067
Ansell Ltd.		80,569			897,756
APN News & Media Ltd.(a)		1,134,623			2,405,665
Ausenco Ltd.(a)		140,675			568,121
Austal Ltd.		93,807			219,557
Austbrokers Holdings Ltd.		134,985			635,586
Austereo Group Ltd.		421,522			661,588
Bank of Queensland Ltd.		191,866			2,076,268
Bendigo and Adelaide Bank Ltd.(a)		469,117			4,305,789
Bradken Ltd.		186,245			1,309,438
Cabcharge Australia Ltd.(a)		163,644			862,151
Campbell Brothers Ltd.		42,106			1,142,018
Centennial Coal Co., Ltd.		563,240			2,202,291
Challenger Financial Services Group Ltd.		626,071			2,413,484
ConnectEast Group(b)		4,408,548			1,820,873
Consolidated Media Holdings Ltd.(a)		707,282			2,044,913
Corporate Express Australia Ltd.(a)		245,209			1,258,113
Crane Group Ltd.		97,932			805,386
Cromwell Group		307,688			206,160
David Jones Ltd.(a)		519,110			2,263,209
Downer EDI Ltd.		208,754			1,448,532
Envestra Ltd.(b)		2,036,343			953,219
FKP Property Group		1,503,040			986,389
Fleetwood Corp., Ltd.		27,670			228,572
Flight Centre Ltd.(a)		120,167			2,313,994
Gloucester Coal Ltd.*		154,458			1,275,923
Goodman Fielder Ltd.		1,901,689			2,496,014
GUD Holdings Ltd.		165,405			1,405,825
Gunns Ltd.(a)		851,988			375,359
GWA International Ltd.(a)		426,988			1,301,144
Hastie Group Ltd.		507,608			710,509
Hastings Diversified Utilities Fund(a)(b)		765,449			836,055
Healthscope Ltd.(a)		257,698			1,045,454
Hills Industries Ltd.		441,064			1,068,752
Invocare Ltd.(a)		139,182			760,102
Iress Market Technology Ltd.(a)		119,656			878,610
JB Hi-Fi Ltd.		48,235			898,731
Macmahon Holdings Ltd.		1,779,879			1,192,573
Melbourne It Ltd.		134,558			213,044
Monadelphous Group Ltd.		91,583			1,286,109
Peet Ltd.		262,596			554,354
Perpetual Ltd.(a)		36,998			1,198,060
Seek Ltd.		124,932			919,644
Sigma Pharmaceuticals Ltd.		1,218,655			520,122
Spotless Group Ltd.		339,296			887,555
Sunland Group Ltd.*(a)		1,137,078			819,278
Ten Network Holdings Ltd.*		665,338			1,160,293
Tower Australia Group Ltd.		274,682			668,110
Transfield Services Ltd.		213,977			793,451
UGL Ltd.(a)		150,488			2,078,787
West Australian Newspapers Holdings Ltd.(a)		364,594			2,653,715

Investments		Shares		Value
Wotif.com Holdings Ltd.		255,376		$	1,699,377
Total Australia					64,958,089
Austria – 0.9%
Flughafen Wien AG		22,523			1,122,121
Schoeller-Bleckmann Oilfield Equipment AG		29,277			1,545,369
Semperit AG Holding		29,400			1,150,072
Total Austria					3,817,562
Belgium – 1.9%
Compagnie d’entreprises CFE		11,917			663,378
Compagnie Maritime Belge S.A.		49,767			1,593,257
Euronav N.V.		164,130			3,642,181
EVS Broadcast Equipment S.A.		15,565			885,404
Omega Pharma S.A.		14,059			701,672
Tessenderlo Chemie N.V.		25,463			853,080
Total Belgium					8,338,972
Denmark – 0.2%
Auriga Industries Class B*		48,767			921,821
Finland – 4.3%
Amer Sports Oyj Class A		17,759			210,020
Cargotec Oyj Class B		51,670			1,497,572
Citycon Oyj(a)		314,390			1,254,933
Comptel Oyj		188,070			221,395
F-Secure Oyj(a)		180,431			612,794
Huhtamaki Oyj(a)		82,806			904,201
Kemira Oyj*(a)		68,338			731,423
Lassila & Tikanoja Oyj(a)		40,577			848,827
Orion Oyj Class B(a)		111,532			2,471,969
Outotec Oyj(a)		37,872			1,365,668
Poyry Oyj		41,980			610,634
Stockmann Oyj Abp Class B(a)		29,064			1,059,455
Technopolis PLC		45,643			227,275
Tieto Oyj(a)		74,458			1,726,839
Tikkurila Oy*(a)		17,084			352,062
Uponor Oyj(a)		79,229			1,447,264
YIT Oyj		127,344			2,946,485
Total Finland					18,488,816
France – 2.1%
Canal Plus		63,075			501,071
Derichebourg S.A.*(a)		149,919			698,025
Groupe Steria SCA		30,750			953,235
Havas S.A.		202,949			1,023,472
Ingenico		18,076			452,851
IPSOS		16,389			580,012
Rallye S.A.		59,664			2,205,176
Rubis		13,528			1,182,486
Saft Groupe S.A.		13,535			537,430
Sechilienne-Sidec		22,100			732,636
Total France					8,866,394
Germany – 3.2%
Aurubis AG		52,464			2,708,586
Bauer AG		14,667			657,892

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		73

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Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2010

  

 

 

Investments		Shares		Value
Bechtle AG		28,253		$	870,477
Carl Zeiss Meditec AG		34,022			545,517
Comdirect Bank AG		121,112			1,220,881
CTS Eventim AG		11,807			600,699
Deutsche Beteiligungs AG		8,173			188,775
Gerresheimer AG		17,066			534,580
Gerry Weber International AG		20,502			712,950
Gildemeister AG		57,443			774,385
H&R WASAG AG		20,026			421,361
Indus Holding AG		49,898			941,186
Kontron AG		29,574			289,760
Krones AG(a)		15,393			793,244
MLP AG		72,058			760,610
Pfeiffer Vacuum Technology AG		12,524			957,461
Sixt AG		21,993			704,686
Takkt AG		18,193			211,706
Total Germany					13,894,756
Hong Kong – 2.1%
China Pharmaceutical Group Ltd.		848,000			524,219
China Travel International Investment Hong Kong Ltd.		3,292,000			894,577
Citic 1616 Holdings Ltd.		2,882,000			976,169
Dah Chong Hong Holdings Ltd.		3,091,000			2,077,997
Hongkong & Shanghai Hotels (The)		723,000			1,117,364
Shenzhen Investment Ltd.		1,644,000			609,775
Shougang Concord International Enterprises Co., Ltd.		5,780,000			1,220,807
Sun Hung Kai & Co., Ltd.		507,189			401,064
Vitasoy International Holdings Ltd.		1,300,364			1,023,249
Total Hong Kong					8,845,221
Ireland – 1.0%
C&C Group PLC		210,543			955,791
FBD Holdings PLC		10,130			100,321
FBD Holdings PLC Redemption Shares*†		14,316			—
Fyffes PLC		75,236			38,517
Glanbia PLC		200,585			811,249
Greencore Group PLC		420,031			791,419
Paddy Power PLC		24,179			862,082
United Drug PLC		220,129			765,491
Total Ireland					4,324,870
Italy – 3.5%
Autostrada Torino-Milano SpA		53,995			759,830
Azimut Holding SpA		75,536			958,197
Banco di Desio e della Brianza SpA		38,166			222,062
Biesse SpA*		64,755			526,596
Brembo SpA		89,108			690,878
Buzzi Unicem SpA RSP		62,508			512,129
Cairo Communication SpA		174,569			682,645
Cementir Holding SpA		104,571			420,594
Credito Artigiano SpA		88,692			214,336
Enia SpA		71,623			576,633
Fiat SpA RSP(a)		89,260			754,860

Investments		Shares		Value
Fondiaria-Sai SpA RSP		93,766		$	987,085
Immobiliare Grande Distribuzione		333,383			676,199
Impregilo SpA		226,893			785,175
Industria Macchine Automatiche SpA		45,525			906,750
Italcementi SpA RSP		95,997			623,489
Maire Tecnimont SpA		261,143			996,454
MARR SpA		152,017			1,405,919
Piaggio & C. SpA		246,924			788,506
Recordati SpA		182,507			1,391,564
Total Italy					14,879,901
Japan – 27.1%
ADEKA Corp.		97,000			969,585
Aica Kogyo Co., Ltd.		91,600			1,021,481
Amano Corp.		116,600			1,061,928
Avex Group Holdings, Inc.		99,700			862,132
Canon Electronics, Inc.		45,000			995,452
Capcom Co., Ltd.(a)		37,200			703,074
Central Glass Co., Ltd.		245,000			1,211,366
Century Tokyo Leasing Corp.		55,410			767,936
Circle K Sunkus Co., Ltd.		73,900			916,632
Daifuku Co., Ltd.		120,500			949,144
Daishi Bank Ltd. (The)		245,000			849,529
DCM Japan Holdings Co., Ltd.		126,400			725,068
Denki Kagaku Kogyo K.K.		347,000			1,492,872
DIC Corp.		667,000			1,441,931
DOWA Holdings Co., Ltd.(a)		184,000			1,108,647
Ehime Bank Ltd. (The)		73,000			205,469
Ezaki Glico Co., Ltd.		81,000			945,751
Fancl Corp.(a)		75,200			1,426,096
Fukuyama Transporting Co., Ltd.(a)		254,000			1,269,456
Fuyo General Lease Co., Ltd.		32,000			905,822
Goldcrest Co., Ltd.		59,540			1,575,796
Gunze Ltd.		247,000			911,976
H2O Retailing Corp.(a)		144,000			984,760
Hanwa Co., Ltd.		212,000			898,459
Heiwa Real Estate Co., Ltd.		237,500			714,228
Hikari Tsushin, Inc.(a)		41,300			670,948
Hitachi Cable Ltd.(a)		295,000			880,833
Hitachi Capital Corp.		87,700			1,249,237
Hitachi Koki Co., Ltd.(a)		140,700			1,516,320
Hitachi Kokusai Electric, Inc.		137,000			1,369,413
Hitachi Transport System Ltd.		86,500			1,219,183
Hokkoku Bank Ltd. (The)		241,000			894,981
Hokuetsu Kishu Paper Co., Ltd.(a)		214,500			1,072,041
Hyakugo Bank Ltd. (The)		202,000			949,037
Hyakujushi Bank Ltd. (The)		203,000			790,796
IBJ Leasing Co., Ltd.		56,900			1,135,686
Inaba Denki Sangyo Co., Ltd.		21,400			496,295
IT Holdings Corp.		41,400			504,208
Ito En Ltd.(a)		82,200			1,272,939
Izumi Co., Ltd.		48,100			631,107
JFE Shoji Holdings, Inc.		200,000			843,322
Juroku Bank Ltd. (The)		263,000			1,044,232

 

See Notes to Financial Statements.

 

74		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2010

  

 

 

Investments		Shares		Value
Kaken Pharmaceutical Co., Ltd.		154,000		$	1,270,698
Kandenko Co., Ltd.		129,000			820,056
Keiyo Bank Ltd. (The)		174,000			839,833
Kiyo Holdings, Inc.		784,800			1,041,473
Kokuyo Co., Ltd.		75,500			629,436
Komeri Co., Ltd.		32,500			846,934
Komori Corp.		67,800			840,970
Kose Corp.(a)		34,700			815,138
KUREHA Corp.		151,000			732,053
Kyowa Exeo Corp.		85,000			702,269
Lion Corp.		173,000			872,035
Meitec Corp.(a)		37,000			725,032
Miraca Holdings, Inc.		46,600			1,421,340
Miura Co., Ltd.		42,800			1,115,347
Mochida Pharmaceutical Co., Ltd.		94,000			895,334
Moshi Moshi Hotline, Inc.		30,050			574,693
Musashino Bank Ltd. (The)		30,200			867,474
Nagase & Co., Ltd.		77,000			963,324
NHK Spring Co., Ltd.		171,000			1,570,184
Nichirei Corp.(a)		249,000			932,684
Nidec Sankyo Corp.(a)		145,000			1,283,337
Nifco, Inc.		65,700			1,511,719
Nippon Kayaku Co., Ltd.		172,000			1,494,692
Nippon Paint Co., Ltd.		190,000			1,244,435
Nippon Shokubai Co., Ltd.		130,000			1,175,621
Nippon Suisan Kaisha Ltd.(a)		378,300			1,097,167
Nissin Kogyo Co., Ltd.		71,900			1,174,223
NOF Corp.		234,000			926,584
NS Solutions Corp.		46,100			836,253
Ogaki Kyoritsu Bank Ltd. (The)		192,000			663,699
Okasan Securities Group, Inc.		51,000			243,975
Okinawa Electric Power Co., Inc. (The)		20,400			1,065,411
Okumura Corp.(a)		232,000			811,901
Onward Holdings Co., Ltd.		194,000			1,513,549
OSAKA Titanium Technologies Co.		19,500			808,674
Otsuka Corp.		15,300			972,624
PanaHome Corp.		169,000			1,128,596
Park24 Co., Ltd.		194,300			1,987,915
Plenus Co., Ltd.		49,700			668,588
Point, Inc.		25,490			1,527,654
Rengo Co., Ltd.		155,000			912,350
Resorttrust, Inc.		70,200			1,030,011
Ryohin Keikaku Co., Ltd.		15,800			667,070
Ryosan Co., Ltd.		32,200			820,507
Saibu Gas Co., Ltd.		644,000			1,805,736
Sangetsu Co., Ltd.		47,000			1,066,856
Sankyu, Inc.		226,000			1,115,004
Sanwa Holdings Corp.		290,000			968,322
Sanyo Shokai Ltd.(a)		270,000			1,025,792
Seino Holdings Corp.		140,000			997,860
Shimachu Co., Ltd.		29,000			618,857
Sohgo Security Services Co., Ltd.		61,400			711,646
Star Micronics Co., Ltd.		82,500			907,641
Sumitomo Bakelite Co., Ltd.		224,000			1,284,931

Investments		Shares		Value
Sumitomo Osaka Cement Co., Ltd.		446,000		$	773,245
Sumitomo Real Estate Sales Co., Ltd.(a)		27,930			1,213,568
Sumitomo Warehouse Co., Ltd. (The)		199,000			883,829
Tadano Ltd.(a)		144,000			779,794
Taiyo Ink Manufacturing Co., Ltd.		39,800			1,066,984
Takara Holdings, Inc.		160,000			897,260
Takasago Thermal Engineering Co., Ltd.(a)		116,000			919,906
Takefuji Corp.(a)		237,060			1,009,738
Toagosei Co., Ltd.		312,000			1,325,599
Toda Corp.		224,000			807,877
Tokai Carbon Co., Ltd.		127,000			739,383
Tokai Rika Co., Ltd.		54,700			1,123,387
Tokai Rubber Industries, Inc.		87,400			1,195,389
Tokyo Tomin Bank Ltd. (The)		50,000			665,133
Toppan Forms Co., Ltd.		70,800			781,952
Toshiba Machine Co., Ltd.		199,000			847,624
Toyo Corp.		80,200			704,668
Toyo Ink Manufacturing Co., Ltd.		295,000			1,325,985
Toyobo Co., Ltd.		537,000			856,303
Yaskawa Electric Corp.		129,000			1,180,383
Yokogawa Electric Corp.*		161,600			1,407,774
Total Japan					116,506,456
Netherlands – 3.4%
Aalberts Industries N.V.		91,497			1,462,132
Arcadis N.V.		52,217			1,106,454
BinckBank N.V.		77,878			1,380,434
Brit Insurance Holdings N.V.		104,364			1,191,281
CSM		58,424			1,818,230
Exact Holding N.V.		34,881			932,386
Grontmij CVA		24,414			545,070
Kardan N.V.*		150,582			925,647
Koninklijke BAM Groep N.V.(a)		146,835			1,144,410
Mediq N.V.		44,192			816,218
Nutreco Holding N.V.		28,978			1,829,152
Sligro Food Group N.V.		26,733			892,735
TKH Group N.V.		32,020			669,391
Total Netherlands					14,713,540
New Zealand – 2.1%
Auckland International Airport Ltd.(a)		757,870			1,043,228
Fisher & Paykel Healthcare Corp., Ltd.		672,185			1,564,392
Freightways Ltd.		177,286			397,507
Infratil Ltd.		496,010			605,344
Mainfreight Ltd.		207,838			934,969
Sky City Entertainment Group Ltd.		651,326			1,488,118
Sky Network Television Ltd.		240,684			911,951
Tower Ltd.		205,620			288,877
Vector Ltd.		830,609			1,249,440
Warehouse Group Ltd. (The)		184,208			490,143
Total New Zealand					8,973,969
Norway – 0.8%
Kongsberg Gruppen AS		63,575			1,167,457
Sparebank 1 SMN(a)		112,927			913,202

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		75

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Table of Contents

Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2010

  

 

 

Investments		Shares		Value
Veidekke ASA		164,341		$	1,342,814
Total Norway					3,423,473
Portugal – 1.2%
BANIF SGPS S.A.		533,164			815,209
Mota Engil, SGPS, S.A.(a)		191,240			839,181
Portucel Empresa Produtora de Pasta e Papel S.A.*(a)		304,174			868,429
REN – Redes Energeticas Nacionais S.A.(a)		401,582			1,662,744
Semapa-Sociedade de Investimento e Gestao		105,277			1,118,234
Total Portugal					5,303,797
Singapore – 6.1%
Allgreen Properties Ltd.		1,266,000			1,077,601
Cityspring Infrastructure Trust		1,428,237			618,063
CSE Global Ltd.		1,617,000			1,145,045
First Ship Lease Trust		2,440,000			1,073,352
Goodpack Ltd.		491,000			614,606
Guocoland Ltd.		559,102			951,799
Hi-P International Ltd.		844,000			383,348
Ho Bee Investment Ltd.		159,000			204,714
Hong Leong Asia Ltd.		683,000			2,217,961
Hyflux Ltd.(a)		449,000			1,091,950
Jaya Holdings Ltd.(a)		3,015,000			1,444,905
K1 Ventures Ltd.		5,559,000			675,963
Kim Eng Holdings Ltd.		419,000			605,400
KS Energy Services Ltd.(a)		642,000			596,974
MobileOne Ltd.		1,087,800			1,618,414
Pacific Century Regional Developments Ltd.		3,279,000			457,355
Singapore Airport Terminal Services Ltd.		759,000			1,438,683
Singapore Post Ltd.		2,236,000			1,679,339
Straits Asia Resources Ltd.(a)		1,422,000			2,197,003
Tat Hong Holdings Ltd.(a)		1,271,000			790,937
United Engineers Ltd.		619,000			1,013,919
UOB-Kay Hian Holdings Ltd.		562,000			679,361
Venture Corp., Ltd.		367,000			2,289,074
Wing Tai Holdings Ltd.		855,000			1,106,935
Total Singapore					25,972,701
Spain – 1.4%
Campofrio Food Group S.A.*		64,670			610,784
Duro Felguera S.A.		94,901			1,014,443
FAES FARMA S.A.		71,711			331,365
FAES FARMA S.A.*(c)		5,975			27,609
La Seda de Barcelona S.A. Class B*†(a)		160,685			—
NH Hoteles S.A.*(a)		252,934			1,079,783
Sol Melia S.A.		127,584			1,099,678
Tubacex S.A.		190,152			762,878
Viscofan S.A.		44,781			1,177,931
Total Spain					6,104,471
Sweden – 5.3%
AarhusKarlshamn AB		42,444			1,155,902
Axfood AB(a)		42,455			1,250,585
Cardo AB		25,226			888,536
Castellum AB(a)		179,062			1,810,027

Investments		Shares		Value
Clas Ohlson AB Class B		70,977		$	1,296,856
Elekta AB Class B		28,912			811,480
Fabege AB(a)		239,027			1,620,747
Intrum Justitia AB(a)		82,720			1,051,672
KappAhl AB		225,754			2,164,378
Kungsleden AB		133,621			1,053,632
Loomis AB Class B		59,255			765,696
Mekonomen AB		39,238			880,497
NCC AB Class B		79,905			1,398,920
Nordnet AB Class B		61,634			206,389
Peab AB		345,747			2,132,995
Saab AB Class B		64,589			987,188
SkiStar AB		22,029			420,868
SSAB AB Class B(a)		63,522			1,034,428
Svenska Handelsbanken AB Class B		26,216			764,952
Wihlborgs Fastigheter AB		58,946			1,249,029
Total Sweden					22,944,777
Switzerland – 0.2%
Bucher Industries AG		7,502			1,019,226
United Kingdom – 16.6%
Arriva PLC		156,079			1,735,424
Ashtead Group PLC		519,242			751,801
Atkins WS PLC		87,575			823,624
BBA Aviation PLC		370,182			1,093,298
Bloomsbury Publishing PLC		119,792			207,152
BlueBay Asset Management PLC		148,405			811,092
Bodycote PLC		278,651			888,063
Brewin Dolphin Holdings PLC		386,967			852,310
Britvic PLC		178,906			1,259,215
Carpetright PLC		69,873			847,923
Chaucer Holdings PLC		1,617,190			1,202,027
Chemring Group PLC		11,684			586,824
Cineworld Group PLC		295,016			837,962
Computacenter PLC		184,820			860,685
Croda International PLC		75,041			1,066,585
Dairy Crest Group PLC		168,647			951,141
Davis Service Group PLC		187,975			1,205,854
De La Rue PLC		68,479			962,410
DS Smith PLC		706,615			1,444,874
Electrocomponents PLC		739,557			2,468,036
Euromoney Institutional Investor PLC		128,108			1,010,501
Evolution Group PLC		118,275			227,404
F&C Asset Management PLC		918,031			866,173
Filtrona PLC		265,488			878,733
Forth Ports PLC		18,203			383,257
Game Group PLC		228,904			341,148
Go-Ahead Group PLC		37,328			794,419
Greggs PLC		109,084			805,009
Halfords Group PLC		185,743			1,331,286
Halma PLC		255,386			977,011
Hill & Smith Holdings PLC		41,589			217,333
HMV Group PLC(a)		504,273			646,750
Homeserve PLC		25,978			706,156

 

See Notes to Financial Statements.

 

76		WisdomTree International Dividend and Sector Funds

---

Table of Contents

Schedule of Investments (concluded)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2010

  

 

 

Investments		Shares		Value
Hunting PLC		147,608		$	1,378,145
IG Group Holdings PLC		269,989			1,647,196
Intermediate Capital Group PLC		363,405			1,493,885
Interserve PLC		218,246			717,567
ITE Group PLC		301,904			656,254
Jardine Lloyd Thompson Group PLC		171,191			1,441,222
Keller Group PLC		49,086			503,340
Kesa Electricals PLC		433,386			834,245
Kier Group PLC		45,509			759,359
Laird PLC		276,680			516,646
Marshalls PLC		436,362			589,107
Marston’s PLC		553,448			769,845
Melrose PLC		533,566			1,782,225
Michael Page International PLC		194,291			1,178,880
Micro Focus International PLC		122,939			935,228
Millennium & Copthorne Hotels PLC		130,792			962,431
Mitie Group PLC		187,712			651,201
Mondi PLC		270,617			1,905,126
Moneysupermarket.com Group PLC		522,970			539,440
Morgan Crucible Co. PLC		393,426			1,215,657
Morgan Sindall PLC		61,855			511,362
Mothercare PLC		71,300			649,471
N. Brown Group PLC		211,672			702,535
National Express Group PLC		314,973			1,094,122
Northern Foods PLC		803,107			709,012
PayPoint PLC		65,714			348,886
Premier Farnell PLC		424,474			1,452,604
PV Crystalox Solar PLC		465,927			339,247
PZ Cussons PLC		238,412			984,766
Renishaw PLC		76,824			761,552
Restaurant Group PLC		204,051			721,193
Rightmove PLC		65,301			667,632
Rotork PLC		39,569			842,112
Schroders PLC		57,512			1,000,643
Severfield-Rowen PLC		203,900			609,313
Shaftesbury PLC		112,446			656,010
Spectris PLC		81,460			1,022,515
Spirax-Sarco Engineering PLC		53,596			1,140,636
St. James’s Place PLC		194,804			769,773
Sthree PLC		189,028			974,905
Tullett Prebon PLC		187,647			995,393
Ultra Electronics Holdings PLC		25,358			577,368
Victrex PLC		46,201			617,075
VT Group PLC(a)		78,499			893,064
WH Smith PLC		111,937			825,045
Wincanton PLC		202,437			617,992
Workspace Group PLC		637,075			231,931
Total United Kingdom					71,234,636
TOTAL COMMON STOCKS (Cost: $409,881,028)					423,533,448

Investments		Shares		Value
SHORT-TERM INVESTMENT – 1.1%
MONEY MARKET FUND – 1.1%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(d)
(Cost: $4,572,583)		4,572,583		$	4,572,583
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 14.8%
MONEY MARKET FUND – 14.8%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(e)
(Cost: $63,580,513)(f)		63,580,513			63,580,513
TOTAL INVESTMENTS IN SECURITIES – 114.4% (Cost: $478,034,124)					491,686,544
Liabilities in Excess of Foreign Currency and Other Assets – (14.4)%					(61,816,323	)
NET ASSETS – 100.0%				$	429,870,221

RSP – Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $0, which represents 0% of net assets.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(c)	A bonus share security is booked under an unlisted line that will assimilate into an ordinary line on a later date not currently disclosed.

 

(d)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(e)	Interest rate shown reflects yield as of March 31, 2010.

 

(f)	At March 31, 2010, the total market value of the Fund’s securities on loan was $58,859,877 and the total market value of the collateral held by the Fund was $63,580,513.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		77

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Table of Contents

Schedule of Investments

WisdomTree Emerging Markets Equity Income Fund (DEM)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.2%
Argentina – 0.1%
Petrobras Energia S.A. ADR		38,216		$	637,443
Brazil – 12.2%
AES Tiete S.A.		167,992			1,644,433
Banco do Brasil S.A.		1,125,400			18,753,514
Cia de Saneamento Basico do Estado de Sao Paulo		105,400			1,904,606
Cia Energetica de Minas Gerais		162,532			2,094,602
Cia Siderurgica Nacional S.A.		718,200			14,261,785
CPFL Energia S.A.		305,698			6,113,275
EDP – Energias do Brasil S.A.		74,600			1,426,625
Equatorial Energia S.A.		105,000			920,155
Iochpe Maxion S.A.		44,200			687,258
Light S.A.		263,755			3,573,483
Positivo Informatica S.A.		30,800			306,844
Redecard S.A.		256,000			4,719,225
Souza Cruz S.A.		172,820			6,021,151
Tractebel Energia S.A.		325,498			3,620,292
Total Brazil					66,047,248
Chile – 2.4%
Banco de Chile		38,904,491			3,715,110
Banco Santander Chile		72,456,484			4,756,790
CorpBanca S.A.		141,244,886			1,184,331
Lan Airlines S.A.		131,037			2,324,805
Madeco S.A.*		17,262,359			1,029,656
Total Chile					13,010,692
China – 0.5%
Jiangsu Expressway Co., Ltd. Class H		562,000			530,537
Shanghai Forte Land Co. Class H		1,578,000			497,907
Zhejiang Expressway Co., Ltd. Class H		1,964,000			1,773,107
Total China					2,801,551
Czech Republic – 4.5%
CEZ AS		237,214			11,217,046
Komercni Banka AS		21,339			4,335,047
Telefonica O2 Czech Republic AS		291,421			6,812,564
Unipetrol A.S.*		226,663			1,957,748
Total Czech Republic					24,322,405
Hungary – 0.8%
Magyar Telekom Telecommunications PLC		1,038,833			4,242,218
Indonesia – 1.3%
Aneka Tambang Tbk PT		8,378,500			2,209,836
Astra Agro Lestari Tbk PT		757,000			2,046,508
Berlian Laju Tanker Tbk PT		2,282,594			158,034
Indo Tambangraya Megah PT		582,200			2,434,498
Total Indonesia					6,848,876
Israel – 6.0%
Bezeq Israeli Telecommunication Corp., Ltd.		1,860,624			5,283,331
Clal Industries and Investments Ltd.		82,972			570,478
Discount Investment Corp.		211,754			5,903,949
Elbit Imaging Ltd.*		19,501			444,470

Investments		Shares		Value
Gazit-Globe Ltd.		54,481		$	571,908
Israel Chemicals Ltd.		825,114			11,167,544
Israel Discount Bank Ltd. Class A*		419,399			959,307
Koor Industries Ltd.		37,322			1,037,550
Oil Refineries Ltd.		955,923			556,851
Partner Communications Co., Ltd.		114,450			2,571,388
Shufersal Ltd.		359,925			2,122,966
Strauss Group Ltd.		82,758			1,261,224
Total Israel					32,450,966
Malaysia – 5.9%
Berjaya Sports Toto Bhd		624,378			857,515
British American Tobacco Malaysia Bhd		136,200			1,843,001
Gamuda Bhd		1,045,700			929,653
Kuala Lumpur Kepong Bhd		515,200			2,634,438
Lafarge Malayan Cement Bhd		366,400			713,256
Malaysian Bulk Carriers Bhd		997,900			972,815
Petronas Dagangan Bhd		449,100			1,245,970
Petronas Gas Bhd		845,700			2,540,729
Public Bank Bhd		1,808,235			6,452,439
Sime Darby Bhd		2,711,700			7,240,621
Telekom Malaysia Bhd		2,712,500			2,860,515
UMW Holdings Bhd		566,800			1,103,366
YTL Power International Bhd		3,376,465			2,266,848
Total Malaysia					31,661,166
Mexico – 0.9%
Grupo Aeroportuario del Centro Norte S.A.B de C.V.		200,800			381,227
Grupo Aeroportuario del Pacifico S.A.B de C.V. Class B		281,300			1,048,263
Grupo Aeroportuario del Sureste S.A.B de C.V. Class B		155,900			827,613
Kimberly-Clark de Mexico S.A.B de C.V. Class A		485,296			2,752,252
Total Mexico					5,009,355
Philippines – 1.7%
Globe Telecom, Inc.		80,218			1,775,127
Philippine Long Distance Telephone Co.		134,868			7,222,407
Total Philippines					8,997,534
Poland – 1.9%
Cyfrowy Polsat S.A.		120,952			661,334
Polskie Gornictwo Naftowe I Gazownictwo S.A.		2,144,643			2,751,181
Telekomunikacja Polska S.A.		1,071,196			6,086,042
TVN S.A.		143,079			902,675
Total Poland					10,401,232
Russia – 2.5%
Mechel ADR*		481,903			13,695,683
South Africa – 13.9%
ABSA Group Ltd.		316,855			6,139,539
Aeci Ltd.		62,329			548,693
African Bank Investments Ltd.		535,707			2,596,854
ArcelorMittal South Africa Ltd.*		275,348			3,470,368
Astral Foods Ltd.		27,299			421,903

 

See Notes to Financial Statements.

 

78		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets Equity Income Fund (DEM)

March 31, 2010

  

 

 

Investments		Shares		Value
Barloworld Ltd.		114,241		$	766,745
FirstRand Ltd.		2,432,422			6,690,531
Foschini Ltd.		117,665			1,073,476
Grindrod Ltd.		386,976			806,732
Impala Platinum Holdings Ltd.		406,223			11,837,189
Imperial Holdings Ltd.		98,471			1,344,734
Investec Ltd.		144,816			1,232,246
Kumba Iron Ore Ltd.(a)		293,071			14,082,988
Lewis Group Ltd.		55,049			423,514
Massmart Holdings Ltd.		84,493			1,248,420
Metropolitan Holdings Ltd.		390,679			897,972
Nedbank Group Ltd.(a)		248,765			4,742,285
Pretoria Portland Cement Co., Ltd.		406,857			1,894,690
Reunert Ltd.		125,238			988,916
RMB Holdings Ltd.		561,161			2,473,435
Sanlam Ltd.		1,021,364			3,458,809
Santam Ltd.		49,402			689,171
Telkom S.A. Ltd.		812,756			3,779,385
Tiger Brands Ltd.		76,424			1,908,532
Woolworths Holdings Ltd.		502,441			1,541,404
Total South Africa					75,058,531
South Korea – 2.2%
Daehan Steel Co., Ltd.		48,302			531,495
Daishin Securities Co., Ltd.*		33,330			463,960
Seah Besteel Corp.		15,668			227,102
SK Telecom Co., Ltd. ADR		270,261			4,664,705
SK Telecom Co., Ltd.		5,404			828,666
S-Oil Corp.		80,371			4,048,917
Woori Investment & Securities Co., Ltd.*		77,050			1,069,146
Total South Korea					11,833,991
Taiwan – 32.6%
Ability Enterprise Co., Ltd.		306,001			508,749
AcBel Polytech, Inc.		190,918			160,812
Acer, Inc.		1,230,280			3,633,738
Advanced Semiconductor Engineering, Inc.		4,359,000			3,980,446
Advantech Co., Ltd.		349,554			746,261
Alpha Networks, Inc.		316,069			299,070
Altek Corp.		188,770			332,270
Asia Cement Corp.		1,602,624			1,564,373
Asia Optical Co., Inc.		181,474			363,428
AU Optronics Corp.		5,262,390			5,981,872
Avermedia Technologies, Inc.		91,460			127,580
Chang Hwa Commercial Bank		2,434,000			1,103,646
China Steel Chemical Corp.		137,050			386,233
China Steel Corp.		12,277,240			12,699,393
China Synthetic Rubber Corp.		290,184			289,654
Chinese Maritime Transport Ltd.		138,218			356,012
Chroma ATE, Inc.		275,389			598,332
Chung Hsin Electric & Machinery Manufacturing Corp.		298,000			174,063
Chung Hwa Pulp Corp.		587,000			311,448
Chunghwa Picture Tubes*		7,979,000			912,015
Chunghwa Telecom Co., Ltd.		5,252,060			10,269,945

Investments		Shares		Value
Compal Communications, Inc.		715,647		$	728,987
Compal Electronics, Inc.		2,917,173			3,816,630
Continental Engineering Corp.		725,000			283,078
CTCI Corp.		339,992			354,894
Delta Electronics, Inc.		1,378,823			4,363,364
Depo Auto Parts Industries Co., Ltd.		121,000			296,042
D-Link Corp.		474,368			489,932
Far EasTone Telecommunications Co., Ltd.		2,160,209			2,584,796
Faraday Technology Corp.		221,708			411,889
Feng Hsin Iron & Steel Co.		288,000			487,890
First Financial Holding Co., Ltd.		4,540,675			2,494,955
Formosa Chemicals & Fibre Corp.		6,533,750			15,286,152
Formosa Petrochemical Corp.		6,778,250			17,864,460
Formosa Plastics Corp.		5,542,140			12,215,813
Formosa Taffeta Co., Ltd.		2,028,000			1,615,606
Fortune Electric Co., Ltd.		103,739			90,157
Gemtek Technology Corp.		118,544			191,862
GeoVision, Inc.		26,000			106,430
Getac Technology Corp.		326,182			268,583
Greatek Electronics, Inc.		448,540			461,845
HannStar Display Corp.*		5,183,000			1,142,421
Holtek Semiconductor, Inc.		182,654			260,828
Holystone Enterprise Co., Ltd.		219,498			351,108
Hsin Kuang Steel Co., Ltd.		153,935			168,195
Huaku Development Co., Ltd.		109,000			282,814
Hung Poo Real Estate Development Corp.		142,000			188,242
Inventec Appliances Corp.		599,224			543,411
Inventec Co., Ltd.		1,619,630			925,634
Kinsus Interconnect Technology Corp.		257,515			674,641
KYE Systems Corp.		287,275			286,750
LEE Chang Yung Chem Industries Corp.		593,357			700,639
LITE-ON IT Corp.		523,619			566,355
Lite-On Technology Corp.		1,946,579			2,583,548
Macronix International		1,886,626			1,247,533
Mega Financial Holding Co., Ltd.		8,063,000			4,671,554
Merida Industry Co., Ltd.		98,350			149,888
Mitac International		1,250,758			575,007
Nan Ya Plastics Corp.		9,991,340			20,386,637
Nan Ya Printed Circuit Board Corp.		756,880			3,002,925
Novatek Microelectronics Corp., Ltd.		522,705			1,629,441
Oriental Union Chemical Corp.		753,000			629,515
Powertech Technology, Inc.		287,000			1,025,710
Quanta Computer, Inc.		1,936,990			3,757,119
Radiant Opto-Electronics Corp.		285,211			393,806
Shih Wei Navigation Co., Ltd.		310,901			401,377
Siliconware Precision Industries Co.		3,076,130			3,709,798
Silitech Technology Corp.		85,641			312,814
Sincere Navigation		403,325			512,443
Sonix Technology Co., Ltd.		96,716			244,546
Star Travel Taiwan Co., Ltd.*†		58,589			—
Taiwan Cement Corp.		1,681,000			1,585,300
Taiwan Secom Co., Ltd.		294,000			470,282
Teco Electric and Machinery Co., Ltd.		1,252,000			549,953
Ton Yi Industrial Corp.		834,000			326,951

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		79

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Table of Contents

Schedule of Investments (concluded)

WisdomTree Emerging Markets Equity Income Fund (DEM)

March 31, 2010

  

 

 

Investments		Shares		Value
Tsann Kuen Enterprise Co., Ltd.		55,837		$	99,866
TSRC Corp.		655,000			872,426
Tung Ho Steel Enterprise Corp.		804,243			912,934
U-Ming Marine Transport Corp.		929,000			1,883,859
Unimicron Technology Corp.		785,670			1,008,126
Uni-President Enterprises Corp.		1,840,717			2,095,281
United Microelectronics Corp.*		7,753,000			4,113,548
Universal Scientific Industrial Co., Ltd.		1,088,486			695,770
Wah Lee Industrial Corp.		212,079			289,156
Yang Ming Marine Transport Corp.		1,588,571			595,251
Yeun Chyang Industrial Co., Ltd.		204,361			178,570
Yungtay Engineering Co., Ltd.		149,716			123,986
Total Taiwan					176,338,663
Thailand – 4.6%
Advanced Info Service PCL		1,751,090			4,670,837
Airports of Thailand PCL*		1,107,300			1,309,857
Asian Property Development PCL		866,700			140,720
Bangkok Expressway PCL		498,088			315,782
BEC World PCL		995,700			763,673
Electricity Generating PCL		296,098			732,576
Esso Thailand PCL		2,027,613			454,622
Glow Energy PCL		668,400			795,837
Kiatnakin Bank PCL		509,198			433,058
Kim Eng Securities Thailand PCL		196,500			71,709
Krung Thai Bank PCL		4,732,900			1,785,724
Precious Shipping PCL		1,335,296			780,488
PTT Chemical PCL		864,700			2,540,482
Quality Houses PCL		3,362,500			251,655
Ratchaburi Electricity Generating Holding PCL		711,596			797,753
Siam Cement PCL		511,696			4,066,982
Siam City Bank PCL		763,200			743,492
Thai Oil PCL		1,213,694			1,876,750
Thai Union Frozen Products PCL		422,384			493,119
Thanachart Capital PCL		806,300			618,408
Tisco Financial Group PCL		285,482			238,380
Total Access Communication PCL		889,600			1,031,699
Total Thailand					24,913,603
Turkey – 5.2%
Anadolu Hayat Emeklilik A.S.		134,754			400,137
Anadolu Sigorta		353,923			316,210
Arcelik A.S.		350,907			1,417,736
Dogus Otomotiv Servis ve Ticaret A.S.*		65,694			254,628
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S.		341,251			627,712
Ford Otomotiv Sanayi A.S.		376,989			2,724,267
Tupras Turkiye Petrol Rafine		245,322			5,560,116
Turcas Petrolculuk A.S.		47,328			151,728
Turk Hava Yollari		412,839			1,410,303
Turk Telekomunikasyon A.S.		2,535,756			8,495,832

Investments		Shares		Value
Turkcell Iletisim Hizmet A.S.		1,017,856		$	6,185,237
Vestel Beyaz Esya Sanayi ve Ticaret A.S.		209,556			627,759
Total Turkey					28,171,665
TOTAL COMMON STOCKS (Cost: $450,462,988)					536,442,822
WARRANTS – 0.0%
Thailand – 0.0%
Ticon Industrial Connection PCL, expiring 1/22/14*
(Cost: $0)		69,333			1,651
TOTAL LONG-TERM INVESTMENTS (Cost: $450,462,988)					536,444,473
SHORT-TERM INVESTMENT – 0.2%
MONEY MARKET FUND – 0.2%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $1,171,962)		1,171,962			1,171,962
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.1%
MONEY MARKET FUND – 1.1%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $6,134,049)(d)		6,134,049			6,134,049
TOTAL INVESTMENTS IN SECURITIES – 100.5% (Cost: $457,768,999)					543,750,484
Liabilities in Excess of Cash, Foreign Currency and Other Assets – (0.5)%					(2,760,891	)
NET ASSETS – 100.0%				$	540,989,593

ADR – American Depositary Receipt.

 

*	Non-income producing security.

 

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $0, which represents 0% of net assets.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $5,911,721 and the total market value of the collateral held by the Fund was $6,134,049.

 

See Notes to Financial Statements.

 

80		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.3%
Argentina – 0.3%
Petrobras Energia S.A. ADR*(a)		63,157		$	1,053,459
Brazil – 5.5%
AES Tiete S.A.		331,900			3,248,889
American Banknote S.A.		15,500			145,386
Amil Participacoes S.A.		88,500			684,317
Brookfield Incorporacoes S.A.		161,200			713,554
Cia de Saneamento de Minas Gerais-COPASA		83,522			1,188,692
Cia Paranaense de Energia		44,900			935,888
Drogasil S.A.		10,268			160,461
Equatorial Energia S.A.		187,800			1,645,762
Estacio Participacoes S.A.		8,600			104,085
Gafisa S.A.		47,700			323,399
Industrias Romi S.A.		53,835			372,535
Iochpe Maxion S.A.		91,200			1,418,054
Localiza Rent A Car S.A.		45,900			480,938
Log-In Logistica Intermodal S.A.*		44,600			205,170
Lojas Renner S.A.		29,300			671,140
M Dias Branco S.A.		17,297			421,594
MRV Engenharia e Participacoes S.A.		90,600			634,560
Obrascon Huarte Lain Brasil S.A.		45,962			1,054,857
Odontoprev S.A.		9,600			332,157
PDG Realty S.A. Empreendimentos e Participacoes		61,200			510,257
Porto Seguro S.A.		80,700			804,875
Positivo Informatica S.A.		57,500			572,841
Rossi Residencial S.A.		73,700			507,934
Totvs S.A.		13,340			798,292
Transmissora Alianca de Energia Eletrica S.A.		38,800			833,960
Total Brazil					18,769,597
Chile – 2.3%
Cia Cervecerias Unidas S.A.		167,011			1,247,546
CorpBanca S.A.		316,715,860			2,655,645
Empresas La Polar S.A.		115,432			635,728
Inversiones Aguas Metropolitanas S.A.		740,709			916,799
Madeco S.A.		32,379,413			1,931,350
Ripley Corp. S.A.		179,266			149,972
Sonda S.A.		308,649			479,369
Total Chile					8,016,409
China – 3.9%
Anhui Expressway Co. Class H*		1,232,030			840,954
Beijing Capital Land Ltd. Class H		1,876,000			736,899
China Oilfield Services Ltd. Class H		698,000			1,024,792
China Shipping Development Co., Ltd. Class H(a)		614,000			1,002,681
Dalian Port PDA Co., Ltd. Class H		1,098,000			514,729
Datang International Power Generation Co., Ltd. Class H(a)		1,378,000			624,694
Great Wall Motor Co., Ltd. Class H(a)		569,500			1,183,784
Guangzhou Shipyard International Co., Ltd. Class H		152,000			262,707
Harbin Power Equipment Co., Ltd. Class H		142,000			117,225

Investments		Shares		Value
Huaneng Power International, Inc. Class H(a)		724,000		$	420,524
Jiangsu Expressway Co., Ltd. Class H		920,000			868,495
Shanghai Forte Land Co. Class H		3,480,000			1,098,046
Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H		1,066,000			345,966
Sinotrans Ltd. Class H		2,565,000			710,234
Weiqiao Textile Co. Class H		1,399,500			1,110,271
Wumart Stores, Inc. Class H		549,000			1,107,234
Xiamen International Port Co., Ltd. Class H		1,682,000			314,101
Zhuzhou CSR Times Electric Co., Ltd. Class H		529,000			1,002,857
Total China					13,286,193
Czech Republic – 1.2%
Unipetrol A.S.*		454,446			3,925,169
Indonesia – 2.1%
Aneka Tambang Tbk PT		15,647,000			4,126,908
Bakrie Sumatera Plantations Tbk PT		2,412,500			131,237
Berlian Laju Tanker Tbk PT		5,213,433			360,950
Indofood Sukses Makmur Tbk PT		3,599,500			1,493,281
Kalbe Farma Tbk PT		1,131,000			232,427
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		801,000			862,663
Total Indonesia					7,207,466
Israel – 8.2%
Clal Industries and Investments Ltd.		244,908			1,683,877
Delek Group Ltd.		5,382			1,232,502
Discount Investment Corp.		403,939			11,262,291
Elbit Imaging Ltd.*		33,682			767,686
Gazit-Globe Ltd.		98,829			1,037,447
Israel Discount Bank Ltd. Class A*		880,204			2,013,324
Koor Industries Ltd.		77,072			2,142,599
Oil Refineries Ltd.		1,848,991			1,077,087
Ormat Industries		48,131			367,407
Osem Investments Ltd.		28,079			431,342
Shufersal Ltd.		666,141			3,929,137
Strauss Group Ltd.		149,589			2,279,721
Total Israel					28,224,420
Malaysia – 4.8%
Alliance Financial Group Bhd		696,300			614,759
Berjaya Sports Toto Bhd		1,513,141			2,078,134
Gamuda Bhd		2,588,128			2,300,911
Genting Plantation Bhd		129,800			276,551
IGB Corp. Bhd		903,600			523,545
KNM Group Bhd*		1,112,400			245,533
Kulim Malaysia Bhd		77,400			168,704
Lafarge Malayan Cement Bhd		885,800			1,724,350
Malaysian Bulk Carriers Bhd		2,343,848			2,284,928
MMC Corp. Bhd		439,922			329,065
Nestle Malaysia Bhd		114,400			1,197,307
Parkson Holdings Bhd		516,443			934,094
SP Setia Bhd		1,183,526			1,516,597
UMW Holdings Bhd		909,126			1,769,758
WCT Bhd		417,400			351,885
Total Malaysia					16,316,121

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		81

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Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2010

  

 

 

Investments		Shares		Value
Mexico – 2.5%
ALFA S.A.B de C.V. Class A		176,600		$	1,395,578
Banco Compartamos S.A. de C.V.		110,708			626,150
Embotelladoras Arca S.A.B de C.V.		361,300			1,249,355
Grupo Aeroportuario del Centro Norte S.A.B de C.V.		413,300			784,667
Grupo Aeroportuario del Pacifico S.A.B de C.V. Class B		561,729			2,093,281
Grupo Aeroportuario del Sureste S.A.B de C.V. Class B		309,302			1,641,965
Mexichem S.A.B de C.V.		302,240			891,375
Total Mexico					8,682,371
Philippines – 1.5%
Aboitiz Power Corp.		3,601,397			976,258
Banco de Oro Unibank, Inc.		946,800			869,489
Energy Development Corp.		10,964,250			1,213,128
Jollibee Foods Corp.		482,810			630,356
Manila Water Co., Inc.		663,000			231,074
Megaworld Corp.		17,420,000			493,419
Metropolitan Bank & Trust		775,710			858,276
Total Philippines					5,272,000
Poland – 0.9%
Asseco Poland S.A.		16,949			337,423
Cyfrowy Polsat S.A.		165,257			903,582
TVN S.A.		277,962			1,753,642
Total Poland					2,994,647
Russia – 0.0%
TMK OAO Reg S GDR*		1,422			29,364
South Africa – 11.1%
Aeci Ltd.		80,571			709,280
African Oxygen Ltd.(a)		244,685			720,666
Astral Foods Ltd.		62,991			973,519
Aveng Ltd.		214,268			1,097,022
AVI Ltd.		372,203			1,206,222
Barloworld Ltd.		150,726			1,011,620
City Lodge Hotels Ltd.		34,761			369,196
Foschini Ltd.		235,073			2,144,608
Grindrod Ltd.		608,260			1,268,045
Group Five Ltd.		33,989			171,705
Illovo Sugar Ltd.		290,727			1,175,742
Imperial Holdings Ltd.		143,677			1,962,073
Investec Ltd.		314,269			2,674,129
JSE Ltd.		43,553			384,294
Lewis Group Ltd.		142,204			1,094,033
Massmart Holdings Ltd.		180,790			2,671,249
Medi-Clinic Corp., Ltd.		373,693			1,373,881
Metropolitan Holdings Ltd.		919,840			2,114,244
Mondi Ltd.(a)		143,556			1,051,656
Mr. Price Group Ltd.(a)		93,134			504,733
Northam Platinum Ltd.(a)		295,292			1,930,026
Reunert Ltd.		223,906			1,768,028
Santam Ltd.		98,133			1,368,981

Investments		Shares		Value
Spar Group Ltd. (The)		142,163		$	1,442,159
Tongaat Hulett Ltd.		99,486			1,395,306
Truworths International Ltd.		292,545			2,083,362
Wilson Bayly Holmes-Ovcon Ltd.		19,588			316,200
Woolworths Holdings Ltd.		1,034,497			3,173,662
Total South Africa					38,155,641
South Korea – 8.0%
Bukwang Pharmaceutical Co., Ltd.*		31,930			455,760
Busan Bank		105,242			1,130,134
Cheil Industries, Inc.		7,557			426,791
Cheil Worldwide, Inc.		4,055			1,200,605
CJ CheilJedang Corp.		1,065			211,786
CJ Corp.		12,007			715,252
Daegu Bank		77,332			1,035,468
Daehan Steel Co., Ltd.		89,847			988,639
Daewoong Pharmaceutical Co., Ltd.*		1,528			67,524
Daishin Securities Co., Ltd.*		64,660			900,079
Dongbu Insurance Co., Ltd.*		21,290			607,775
Dongkuk Steel Mill Co., Ltd.		21,660			440,302
Halla Climate Control Corp.		95,200			1,144,302
Hanjin Heavy Industries & Construction Holdings Co., Ltd.		12,772			142,795
Hanjin Shipping Holdings Co., Ltd.*		9,533			172,301
Hankook Tire Co., Ltd.		46,308			877,906
Hanwha Chem Corp.		87,790			1,070,752
Hite Brewery Co., Ltd.		1,194			150,378
Hotel Shilla Co., Ltd.		22,588			453,177
Hyundai Marine & Fire Insurance Co., Ltd.*		59,962			969,822
Hyundai Securities Co.*		121,430			1,459,585
Korea Investment Holdings Co., Ltd.*		22,221			610,785
Korea Kumho Petrochemical Co.*		10,900			267,334
Korean Reinsurance Co.*		72,997			645,163
LG Telecom Ltd.		290,270			1,980,542
LIG Insurance Co., Ltd.*		25,200			489,991
LS Industrial Systems Co., Ltd.		13,781			978,050
Namhae Chemical Corp.		15,010			253,384
S1 Corp.		14,898			614,907
Samsung Fine Chemicals Co., Ltd.		11,507			516,643
Seah Besteel Corp.		12,447			180,415
SFA Engineering Corp.		9,290			390,829
SKC Co., Ltd.		18,636			308,829
STX Corp. Co., Ltd.*		12,909			232,178
STX Engine Co., Ltd.		7,800			147,183
STX Offshore & Shipbuilding Co., Ltd.		26,090			297,460
Taihan Electric Wire Co., Ltd.*		28,420			427,010
Tong Yang Securities, Inc.*		31,005			287,730
Woongjin Coway Co., Ltd.		33,720			1,044,576
Woongjin Thinkbig Co., Ltd.		4,564			101,651
Woori Investment & Securities Co., Ltd.*		150,340			2,086,118
Youngone Holdings Co., Ltd.		9,100			245,305
Yuhan Corp.		3,736			569,588
Total South Korea					27,296,804

 

See Notes to Financial Statements.

 

82		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2010

  

 

 

Investments		Shares		Value
Taiwan – 32.1%
Ability Enterprise Co., Ltd.		686,944		$	1,142,095
AcBel Polytech, Inc.		392,000			330,185
Advantech Co., Ltd.		619,139			1,321,797
ALI Corp.		160,164			366,645
Alpha Networks, Inc.		676,914			640,508
Altek Corp.		389,294			685,230
Ambassador Hotel (The)		63,601			69,393
AmTRAN Technology Co., Ltd.		398,531			459,921
Asia Optical Co., Inc.		387,770			776,566
AV Tech Corp.		87,260			324,223
Avermedia Technologies, Inc.		160,094			223,319
BES Engineering Corp.		352,557			85,813
Bright Led Electronics Corp.		100,394			136,407
Catcher Technology Co., Ltd.		519,860			1,276,814
Cheng Uei Precision Industry Co., Ltd.		305,110			600,459
Chicony Electronics Co., Ltd.		603,899			1,606,822
China Steel Chemical Corp.		236,200			665,656
China Synthetic Rubber Corp.		641,544			640,372
Chinese Maritime Transport Ltd.		255,935			659,219
Chroma ATE, Inc.		615,143			1,336,509
Chung Hsin Electric & Machinery Manufacturing Corp.		687,000			401,280
Chung Hwa Pulp Corp.		1,671,422			886,815
Chunghwa Picture Tubes*		15,161,000			1,732,931
Compal Communications, Inc.		1,361,922			1,387,310
Continental Engineering Corp.		1,589,000			620,429
CTCI Corp.		772,788			806,660
Cyberlink Corp.		81,680			379,363
CyberTAN Technology, Inc.		152,868			212,277
DA CIN Construction Co., Ltd.		181,661			106,395
Depo Auto Parts Industries Co., Ltd.		225,000			550,491
D-Link Corp.		1,064,129			1,099,044
Elite Semiconductor Memory Technology, Inc.		238,590			375,262
Epistar Corp.		364,665			1,211,416
Eternal Chemical Co., Ltd.		847,287			865,749
Everlight Electronics Co., Ltd.		326,256			1,012,937
Far Eastern Department Stores Co., Ltd.		708,877			587,048
Faraday Technology Corp.		451,936			839,607
Farglory Land Development Co., Ltd.		601,968			1,281,348
Feng Hsin Iron & Steel Co.		744,094			1,260,541
First Steamship Co., Ltd.		72,569			116,081
Formosa International Hotels Corp.		13,240			144,874
Formosa Taffeta Co., Ltd.		3,408,032			2,715,008
Fortune Electric Co., Ltd.		213,780			185,790
Gemtek Technology Corp.		229,632			371,657
GeoVision, Inc.		73,000			298,822
Getac Technology Corp.		435,032			358,212
Giant Manufacturing Co., Ltd.		220,560			639,636
Gigabyte Technology Co., Ltd.		921,228			893,439
Global Unichip Corp.		16,506			74,843
Great Wall Enterprise Co.		384,250			395,043
Greatek Electronics, Inc.		775,179			798,172
Hannstar Board Corp.		377,735			353,257

Investments		Shares		Value
HannStar Display Corp.*		8,915,000		$	1,965,017
Holtek Semiconductor, Inc.		342,927			489,695
Holystone Enterprise Co., Ltd.		389,607			623,214
Hsin Kuang Steel Co., Ltd.		450,548			492,286
Huaku Development Co., Ltd.		453,100			1,175,623
Hung Poo Real Estate Development Corp.		555,680			736,637
Inventec Appliances Corp.		1,221,225			1,107,478
Inventec Co., Ltd.		3,805,665			2,174,974
ITE Technology, Inc.		95,337			183,121
Kindom Construction Co., Ltd.		801,000			619,200
King Slide Works Co., Ltd.		74,217			445,190
King Yuan Electronics Co., Ltd.		1,384,076			673,341
Kinsus Interconnect Technology Corp.		451,385			1,182,544
KYE Systems Corp.		525,040			524,081
Largan Precision Co., Ltd.		76,088			1,144,027
LEE Chang Yung Chem Industries Corp.		1,069,517			1,262,891
Lien Hwa Industrial Corp.		317,255			154,342
LITE-ON IT Corp.		1,300,549			1,406,696
Lite-On Technology Corp.		3,502,825			4,649,036
Macronix International		4,412,917			2,918,044
Merida Industry Co., Ltd.		220,550			336,124
Micro-Star International Co., Ltd.		679,774			425,956
Mitac International		2,145,145			986,180
Nan Ya Printed Circuit Board Corp.		1,456,400			5,778,273
Nantex Industry Co., Ltd.		99,757			72,875
Novatek Microelectronics Corp., Ltd.		922,838			2,876,786
Opto Technology Corp.		222,000			186,643
Oriental Union Chemical Corp.		1,814,940			1,517,308
Pan-International Industrial		157,340			260,103
Pou Chen Corp.		1,676,600			1,369,978
Powertech Technology, Inc.		494,834			1,768,489
Radiant Opto-Electronics Corp.		538,806			743,959
Radium Life Tech Co., Ltd.*		634,605			533,533
Realtek Semiconductor Corp.		324,969			876,939
Richtek Technology Corp.		80,275			859,421
Ruentex Development Co., Ltd.		1,280,000			1,813,716
Shih Wei Navigation Co., Ltd.		629,475			812,661
Shihlin Electric & Engineering Corp.		600,214			728,580
Shin Zu Shing Co., Ltd.		72,319			307,421
Shining Building Business Co., Ltd.*		318,901			351,456
Silitech Technology Corp.		168,655			616,033
Sincere Navigation		837,791			1,064,452
Sonix Technology Co., Ltd.		157,074			397,161
Star Travel Taiwan Co., Ltd.*†		48,401			—
Synnex Technology International Corp.		609,300			1,343,000
Taiwan Cogeneration Corp.		380,666			206,167
Taiwan Glass Industrial Corp.		775,041			822,435
Taiwan Navigation Co., Ltd.		389,000			505,266
Taiwan Secom Co., Ltd.		616,014			985,374
Teco Electric and Machinery Co., Ltd.		2,030,442			891,891
Ton Yi Industrial Corp.		1,418,000			555,895
Transcend Information, Inc.		313,963			1,136,902
Tripod Technology Corp.		299,103			1,012,456
Tsann Kuen Enterprise Co., Ltd.		65,984			118,014

 

See Notes to Financial Statements.

 

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Schedule of Investments (concluded)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2010

  

 

 

Investments		Shares		Value
TSRC Corp.		1,014,000		$	1,350,595
Tung Ho Steel Enterprise Corp.		1,850,647			2,100,756
TXC Corp.		298,133			522,892
U-Ming Marine Transport Corp.		1,749,000			3,546,684
Unimicron Technology Corp.		1,404,400			1,802,044
Universal Scientific Industrial Co., Ltd.		2,037,391			1,302,319
Wah Lee Industrial Corp.		629,971			858,925
Wistron NeWeb Corp.		241,747			437,699
WPG Holdings Co., Ltd.		916,671			1,498,055
Yang Ming Marine Transport Corp.		3,545,314			1,328,460
Yeun Chyang Industrial Co., Ltd.		571,356			499,248
Yieh Phui Enterprise		949,113			385,527
Yulon Motor Co., Ltd.		696,447			773,026
Yungtay Engineering Co., Ltd.		363,976			301,422
Zinwell Corp.		215,424			404,963
Zyxel Communications Corp.		465,570			368,697
Total Taiwan					109,979,886
Thailand – 8.3%
Airports of Thailand PCL		2,334,900			2,762,020
Asian Property Development PCL		1,038,700			168,646
Bangkok Expressway PCL		1,045,802			663,026
BEC World PCL		1,610,678			1,235,343
Central Pattana PCL		378,700			242,434
Charoen Pokphand Foods PCL		6,389,962			2,964,263
CP ALL PCL		2,734,490			2,325,606
Electricity Generating PCL		601,412			1,487,953
Esso Thailand PCL		4,371,882			980,243
Glow Energy PCL		1,417,476			1,687,732
Kiatnakin Bank PCL		1,286,606			1,094,222
Kim Eng Securities Thailand PCL		1,105,102			403,284
Land and Houses PCL		7,461,008			1,395,983
Minor International PCL		1,612,236			548,464
Precious Shipping PCL		2,179,326			1,273,829
Preuksa Real Estate PCL		629,128			340,490
PTT Aromatics & Refining PCL		1,101,700			979,554
Quality Houses PCL		6,467,700			484,052
Ratchaburi Electricity Generating Holding PCL		1,588,996			1,781,386
Siam City Bank PCL		1,048,200			1,021,132
Thai Union Frozen Products PCL		1,319,210			1,540,132
Thanachart Capital PCL		1,658,300			1,271,868
Tisco Financial Group PCL		381,752			318,766
Total Access Communication PCL		1,366,339			1,584,590
Total Thailand					28,555,018
Turkey – 5.6%
Aksigorta A.S.(a)		483,533			676,603
Anadolu Hayat Emeklilik A.S.		145,033			430,659
Anadolu Sigorta		599,156			535,312
Arcelik A.S.(a)		699,303			2,825,327
Dogus Otomotiv Servis ve Ticaret A.S.*		198,381			768,919
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S.		481,451			885,602
Ford Otomotiv Sanayi A.S.		676,906			4,891,582
Selcuk Ecza Deposu Ticaret ve Sanayi A.S.		532,893			966,223

Investments		Shares		Value
Sinpas Gayrimenkul Yatirim Ortakligi A.S.		490,732		$	818,854
Tofas Turk Otomobil Fabrikasi A.S.(a)		401,734			1,504,325
Tupras Turkiye Petrol Rafine		1,541			34,926
Turcas Petrolculuk A.S.		137,792			441,745
Turk Hava Yollari		797,119			2,723,045
Vestel Beyaz Esya Sanayi ve Ticaret A.S.		545,677			1,634,665
Yapi Kredi Sigorta A.S.		19,116			141,907
Total Turkey					19,279,694
TOTAL COMMON STOCKS (Cost: $282,333,783)					337,044,259
EXCHANGE TRADED FUND – 0.8%
United States – 0.8%
WisdomTree India Earnings Fund*(a)(b)
(Cost: $2,293,121)		116,940			2,728,210
RIGHTS – 0.0%
Poland – 0.0%
Asseco Poland S.A., expiring 6/30/10*
(Cost: $0)		15,395			—
WARRANTS – 0.0%
Thailand – 0.0%
Ticon Industrial Connection PCL, expiring 1/22/14*
(Cost: $0)		87,000			2,072
TOTAL LONG-TERM INVESTMENTS (Cost: $284,626,904)					339,774,541
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.6%
MONEY MARKET FUND – 3.6%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $12,303,099)(d)		12,303,099			12,303,099
TOTAL INVESTMENTS IN SECURITIES – 102.7% (Cost: $296,930,003)					352,077,640
Liabilities in Excess of Foreign Currency and Other Assets – (2.7)%					(9,323,225	)
NET ASSETS – 100.0%				$	342,754,415

ADR – American Depositary Receipt.

GDR – Global Depositary Receipt.

 

*	Non-income producing security.

 

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $0, which represents 0% of net assets.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Affiliated Companies (See Note 4).

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $11,443,096 and the total market value of the collateral held by the Fund was $12,303,099.

 

See Notes to Financial Statements.

 

84		WisdomTree International Dividend and Sector Funds

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Schedule of Investments

WisdomTree Middle East Dividend Fund (GULF)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.6%
Egypt – 17.6%
Arab Cotton Ginning*		40,321		$	29,732
Canal Shipping Agencies Co.		4,998			7,888
Commercial International Bank Egypt S.A.E		158			1,867
Egyptian Co. For Mobile Services		6,845			266,800
Egyptian Financial & Industrial Co.		4,671			20,335
Egyptian Financial Group-Hermes Holding		5,042			29,084
Elswedy Cables Holding Co.		1,229			16,781
Ezz Steel*		127,550			489,490
Orascom Construction Industries		10,504			503,452
Orascom Telecom Holding S.A.E		238,973			244,355
Sidi Kerir Petrochemcials Co.		62,147			165,018
Telecom Egypt		136,587			421,966
Total Egypt					2,196,768
Jordan – 2.6%
Arab Bank		8,175			124,500
Arab Potash Co.		2,119			103,124
Jordanian Electric Power Co.		17,302			95,240
Total Jordan					322,864
Kuwait – 16.7%
Boubyan Petrochemicals Co.		55,000			106,042
Commercial Bank of Kuwait S.A.K*		37,500			121,363
Injazzat Real Estate Co. KSCC*		30,000			13,014
Kuwait Finance House		65,599			252,955
Kuwait Projects Co. Holdings KSC		72,500			129,799
Mobile Telecommunications Co. KSC*		192,624			901,942
National Bank of Kuwait		86,625			357,893
National Mobile Telecommunication Co. KSC*		27,500			149,595
United Ahli Bank*		31,350			59,365
Total Kuwait					2,091,968
Morocco – 9.4%
Attijariwafa Bank		1,516			52,886
Douja Promotion Groupe Addoha S.A.		3,422			46,677
Maroc Telecom		56,058			1,075,910
Total Morocco					1,175,473
Oman – 3.8%
Bank Muscat S.A.O.G		34,497			75,804
Galfar Engineering & Contracting S.A.O.G		8,455			10,234
Oman Telecommunications Co.		88,160			294,019
Raysut Cement Co.		17,153			71,285
Renaissance Services S.A.O.G		12,646			26,015
Total Oman					477,357
Qatar – 31.6%
Commercial Bank of Qatar		19,474			395,175
Doha Bank QSC		18,950			264,340
Industries Qatar		34,486			1,091,848
Masraf Al Rayan		37,060			138,399
Qatar Electricity & Water Co.		7,515			212,960
Qatar Fuel Co.*		1,450			76,447
Qatar Insurance Co.		2,015			35,301
Qatar Islamic Bank		15,295			337,252

Investments		Shares		Value
Qatar National Bank S.A.Q		17,846		$	662,534
Qatar Shipping Co.*		8,636			92,958
Qatar Telecom Q-Telephone QSC*		13,487			554,775
United Development Co.*		11,728			92,748
Total Qatar					3,954,737
United Arab Emirates – 16.9%
Abu Dhabi Commercial Bank PJSC		400,736			225,844
Air Arabia		602,418			160,732
Bank of Sharjah		227,554			106,559
DP World Ltd.		477,162			245,738
Dubai Financial Market		469,594			242,915
Dubai Investments PJSC*		415,102			115,275
Dubai Islamic Bank PJSC		399,244			295,656
First Gulf Bank PJSC		54,695			268,040
Gulf Navigation Holding		304,270			49,704
National Bank of Abu Dhabi PJSC		91,380			298,546
Tamweel PJSC*†		65,235			—
Union National Bank PJSC/Abu Dhabi*		115,910			110,135
Total United Arab Emirates					2,119,144
TOTAL COMMON STOCKS (Cost: $11,191,851)					12,338,311
SHORT-TERM INVESTMENT – 0.0%
MONEY MARKET FUND – 0.0%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(a)
(Cost: $3,377)		3,377			3,377
TOTAL INVESTMENTS IN SECURITIES – 98.6% (Cost: $11,195,228)					12,341,688
Foreign Currency and Other Assets in Excess of Liabilities – 1.4%					173,583
NET ASSETS – 100.0%				$	12,515,271

*	Non-income producing security.

 

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate of fair valued securities is $0, which represents 0% of net assets.

 

(a)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

See Notes to Financial Statements.

 

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Schedule of Investments

WisdomTree International Hedged Equity Fund (HEDJ)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 98.9%
Australia – 9.0%
AGL Energy Ltd.		608		$	8,387
Amcor Ltd.		1,531			8,979
AMP Ltd.		2,956			16,984
APN News & Media Ltd.		2,387			5,061
Aristocrat Leisure Ltd.		1,372			5,705
ASX Ltd.		223			6,947
Australia & New Zealand Banking Group Ltd.		2,885			67,153
AXA Asia Pacific Holdings Ltd.		1,727			10,018
Bank of Queensland Ltd.		88			952
Bendigo and Adelaide Bank Ltd.		816			7,490
BHP Billiton Ltd.		1,873			74,937
BlueScope Steel Ltd.*		2,665			7,118
Boral Ltd.		1,035			5,329
Brambles Ltd.		2,037			13,761
Coca-Cola Amatil Ltd.		772			7,971
Commonwealth Bank of Australia		1,790			92,482
Computershare Ltd.		927			10,653
Crown Ltd.		1,130			8,484
CSL Ltd.		222			7,423
CSR Ltd.		3,437			5,221
David Jones Ltd.		1,059			4,617
Downer EDI Ltd.		1,760			12,212
Fairfax Media Ltd.		5,558			9,183
Foster’s Group Ltd.		2,006			9,740
Goodman Fielder Ltd.		3,860			5,066
Harvey Norman Holdings Ltd.		1,274			4,233
Incitec Pivot Ltd.		2,948			9,389
Insurance Australia Group Ltd.		1,471			5,239
Leighton Holdings Ltd.		425			15,213
Lend Lease Group(a)		512			4,070
Macquarie Group Ltd.		318			13,791
Metcash Ltd.		1,495			5,681
National Australia Bank Ltd.		2,649			66,912
OneSteel Ltd.		2,001			7,163
Orica Ltd.		358			8,803
Origin Energy Ltd.		653			9,919
QBE Insurance Group Ltd.		1,158			22,140
Rio Tinto Ltd.		279			20,077
Santos Ltd.		458			6,163
Sims Metal Management Ltd.		215			4,274
Sonic Healthcare Ltd.		668			8,811
Suncorp-Metway Ltd.		2,319			18,177
TABCORP Holdings Ltd.		876			5,548
Telstra Corp., Ltd.		18,238			50,052
Toll Holdings Ltd.		856			5,830
Wesfarmers Ltd.		1,313			38,311
Westpac Banking Corp.		2,820			72,059
Woodside Petroleum Ltd.		469			20,189
Woolworths Ltd.		792			20,354
WorleyParsons Ltd.		291			6,798
Total Australia					861,069

Investments		Shares		Value
Austria – 0.9%
Erste Group Bank AG		358		$	15,065
OMV AG		467			17,554
Telekom Austria AG		1,051			14,719
Verbund – Oesterreichische Elektrizitaetswirtschafts AG Class A		353			14,038
voestalpine AG		644			26,098
Total Austria					87,474
Belgium – 1.1%
Anheuser-Busch InBev N.V.		508			25,636
Belgacom S.A.		794			31,070
Mobistar S.A.		238			14,674
Solvay S.A.		164			16,889
UCB S.A.		389			16,641
Total Belgium					104,910
Denmark – 0.4%
Novo Nordisk A/S Class B		488			37,936
Finland – 1.6%
Fortum Oyj		1,122			27,494
Kone Oyj Class B		504			20,868
Neste Oil Oyj*		982			17,154
Nokia Oyj		2,657			41,452
Rautaruukki Oyj		608			13,163
Sampo Oyj Class A		826			21,951
UPM-Kymmene Oyj		1,206			16,033
Total Finland					158,115
France – 13.6%
Accor S.A.		409			22,668
Aeroports de Paris		135			11,136
Air Liquide S.A.		155			18,641
Alstom S.A.		139			8,684
AXA S.A.		1,194			26,609
BNP Paribas		347			26,697
Bourbon S.A.		190			8,228
Bouygues S.A.		580			29,210
Carrefour S.A.		365			17,624
Casino Guichard Perrachon S.A.		207			17,548
Christian Dior S.A.		198			21,160
CNP Assurances		140			13,245
Compagnie de Saint-Gobain		700			33,719
Credit Agricole S.A.		1,989			34,879
Danone		363			21,906
Electricite de France		1,139			62,264
Fonciere Des Regions		132			14,566
France Telecom S.A.		3,889			93,220
GDF Suez		1,997			77,281
Gecina S.A.		180			19,957
ICADE		103			11,485
Klepierre		397			15,621
Lafarge S.A.		290			20,444
Lagardere SCA		282			11,432
Legrand S.A.		693			21,933

 

See Notes to Financial Statements.

 

86		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Equity Fund (HEDJ)

March 31, 2010

  

 

 

Investments		Shares		Value
L’Oreal S.A.		300		$	31,606
LVMH Moet Hennessy Louis Vuitton S.A.		271			31,733
Neopost S.A.		164			13,130
PagesJaunes Groupe		1,129			12,988
Pernod-Ricard S.A.		219			18,630
PPR		214			28,542
Safran S.A.		986			25,749
Sanofi-Aventis S.A.		1,094			81,697
Schneider Electric S.A.		335			39,364
Societe Generale		370			23,313
Sodexo		270			16,166
Suez Environnement S.A.		768			17,708
Thales S.A.		283			11,381
TOTAL S.A.		2,508			145,856
Unibail-Rodamco SE		88			17,861
Vallourec S.A.		136			27,474
Veolia Environnement		624			21,683
Vinci S.A.		473			27,927
Vivendi S.A.		1,567			42,014
Total France					1,294,979
Germany – 7.8%
Allianz SE		450			56,524
BASF SE		1,197			74,375
Bayer AG		538			36,457
Bayerische Motoren Werke AG		227			10,498
Beiersdorf AG		227			13,602
Deutsche Bank AG		168			12,964
Deutsche Boerse AG		210			15,594
Deutsche Post AG		1,648			28,643
Deutsche Telekom AG		7,511			101,987
E.ON AG		1,982			73,308
Fresenius Medical Care AG & Co. KGaA		354			20,010
K+S AG		218			13,253
Linde AG		139			16,615
MAN SE		195			16,354
Merck KGAA		167			13,558
Metro AG		263			15,630
Muenchener Rueckversicherungs AG		222			36,092
RWE AG		735			65,241
SAP AG		681			33,044
Siemens AG		561			56,286
ThyssenKrupp AG		903			31,102
Volkswagen AG		48			4,644
Total Germany					745,781
Hong Kong – 5.4%
Cheung Kong (Holdings) Ltd.		3,000			38,636
China Merchants Holdings International Co., Ltd.		6,000			22,100
China Mobile Ltd.		12,000			115,446
China Resources Enterprise		2,000			7,431
China Unicom Hong Kong Ltd.		14,000			15,759
CLP Holdings Ltd.		2,000			14,295
CNOOC Ltd.		36,000			59,253
Hang Lung Properties Ltd.		3,000			12,093

Investments		Shares		Value
Hang Seng Bank Ltd.		2,000		$	27,870
Henderson Land Development Co., Ltd.		3,000			21,134
Hong Kong & China Gas Co., Ltd.		4,000			9,973
Hong Kong Exchanges and Clearing Ltd.		1,100			18,360
Hongkong Electric Holdings Ltd.		2,000			11,861
Hutchison Whampoa Ltd.		3,000			21,946
MTR Corp.		2,000			7,573
New World Development Ltd.		1,000			1,958
Shanghai Industrial Holdings Ltd.		3,000			13,755
Sino Land Co., Ltd.		6,000			11,761
Sinotrans Shipping Ltd.		10,000			4,778
Sun Hung Kai Properties Ltd.		3,000			45,127
Swire Pacific Ltd. Class A		1,500			18,043
Wharf Holdings Ltd.		3,000			16,903
Total Hong Kong					516,055
Ireland – 0.2%
CRH PLC		612			15,311
Italy – 4.8%
A2A SpA		6,919			13,004
Atlantia SpA		780			18,238
Edison SpA		9,242			14,106
Enel SpA		14,410			80,722
ENI SpA		5,335			125,390
Finmeccanica SpA		1,026			13,716
Mediaset SpA		3,097			26,652
Mediobanca SpA*		1,942			20,904
Parmalat SpA		6,143			16,853
Saipem SpA		751			29,113
Snam Rete Gas SpA		4,859			24,672
Telecom Italia SpA		15,437			22,266
Telecom Italia SpA RSP		16,890			19,083
Terna Rete Elettrica Nazionale SpA		4,392			19,032
Unione di Banche Italiane SCPA		840			11,355
Total Italy					455,106
Japan – 12.4%
ACOM Co., Ltd.		150			2,456
Advan Co., Ltd.		1,000			7,085
Advantest Corp.		100			2,502
Aeon Co., Ltd.		400			4,542
Aeon Credit Service Co., Ltd.		100			1,188
Aichi Corp.		300			1,300
Aisin Seiki Co., Ltd.		100			2,997
Asahi Breweries Ltd.		400			7,504
Astellas Pharma, Inc.		400			14,491
Belluna Co., Ltd.		850			3,611
Bridgestone Corp.		400			6,832
Brother Industries Ltd.		600			7,256
Canon Marketing Japan, Inc.		400			5,450
Canon, Inc.		1,100			50,974
Casio Computer Co., Ltd.		100			769
Chiyoda Integre Co., Ltd.		300			4,045
Chubu Electric Power Co., Inc.		400			10,004
Chugai Pharmaceutical Co., Ltd.		100			1,881

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		87

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Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Equity Fund (HEDJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Chugoku Electric Power Co., Inc. (The)		100		$	1,988
Chuo Mitsui Trust Holdings, Inc.		3,000			11,269
CKD Corp.		500			4,185
Coca-Cola West Co., Ltd.		100			1,636
Credit Saison Co., Ltd.		100			1,552
Daiichi Sankyo Co., Ltd.		800			14,991
Daikoku Denki Co., Ltd.		300			5,285
DENSO Corp.		100			2,981
Dentsu, Inc.		100			2,630
DIC Corp.		1,000			2,162
Eisai Co., Ltd.		100			3,569
Electric Power Development Co., Ltd.		100			3,296
FamilyMart Co., Ltd.		100			3,184
FUJIFILM Holdings Corp.		100			3,446
Fukuoka Financial Group, Inc.		1,000			4,249
Hamamatsu Photonics K.K.		200			5,657
Heiwa Corp.		400			4,114
Hiroshima Bank Ltd. (The)		3,000			12,682
Hisamitsu Pharmaceutical Co., Inc.		100			3,719
Hitachi Capital Corp.		100			1,424
Hitachi Chemical Co., Ltd.		100			2,162
Hitachi Construction Machinery Co., Ltd.		100			2,364
Hitachi High-Technologies Corp.		200			4,591
Hitachi Koki Co., Ltd.		300			3,233
Hokkaido Electric Power Co., Inc.		100			1,920
Hokuhoku Financial Group, Inc.		3,000			6,582
Hokuriku Electric Power Co.		100			2,200
Honda Motor Co., Ltd.		1,200			42,380
Honeys Co., Ltd.		80			687
HOYA CORP.		300			8,248
Idec Corp.		300			2,694
Inabata & Co., Ltd.		800			3,776
ITOCHU Corp.		3,000			26,295
Itochu Techno-Solutions Corp.		200			6,571
Japan Tobacco, Inc.		4			14,897
JFE Holdings, Inc.		400			16,117
JS Group Corp.		400			8,146
JSR Corp.		100			2,090
Kajima Corp.		3,000			7,352
Kansai Electric Power Co., Inc. (The)		700			16,047
KDDI Corp.		1			5,180
Komatsu Ltd.		700			14,683
Konami Corp.		100			1,930
Kyokuto Securities Co., Ltd.		400			3,771
Kyushu Electric Power Co., Inc.		400			8,711
Lawson, Inc.		100			4,270
Makita Corp.		100			3,296
Marubeni Corp.		3,000			18,654
Marui Group Co., Ltd.		800			5,805
Medipal Holdings Corp.		400			4,739
Mitsubishi Chemical Holdings Corp.		500			2,558
Mitsubishi Corp.		1,100			28,842
Mitsubishi Heavy Industries Ltd.		3,000			12,425
Mitsubishi UFJ Financial Group, Inc.		5,500			28,842

Investments		Shares		Value
Mitsubishi UFJ Lease & Finance Co., Ltd.		40		$	1,455
Mitsui & Co., Ltd.		500			8,406
Mitsui O.S.K. Lines Ltd.		3,000			21,543
Mizuho Financial Group, Inc.		10,000			19,799
MS&AD Insurance Group Holdings		100			2,777
Namco Bandai Holdings, Inc.		100			975
Nippon Express Co., Ltd.		3,000			12,907
Nippon Mining Holdings, Inc.		500			2,298
Nippon Oil Corp.		3,000			14,865
Nippon Paper Group, Inc.		100			2,574
Nippon Steel Corp.		3,000			11,783
Nippon Telegraph & Telephone Corp.		1,100			46,383
Nippon Television Network Corp.		40			5,445
Nippon Yusen K.K.		3,000			11,847
Nisshin Steel Co., Ltd.		1,000			2,087
Nissin Foods Holdings Co., Ltd.		100			3,366
Nitto Denko Corp.		100			3,885
Nomura Real Estate Holdings, Inc.		100			1,543
Nomura Research Institute Ltd.		200			4,559
NTT DoCoMo, Inc.		35			53,339
OJI Paper Co., Ltd.		3,000			13,164
Oracle Corp.		200			9,279
Osaka Gas Co., Ltd.		3,000			10,756
Panasonic Corp.		2,000			30,608
Park24 Co., Ltd.		700			7,162
Promise Co., Ltd.		200			1,856
Resona Holdings, Inc.		100			1,265
Sankei Building Co., Ltd. (The)		100			623
Secom Co., Ltd.		100			4,377
Sega Sammy Holdings, Inc.		100			1,211
Seiko Epson Corp.		100			1,554
Seven & I Holdings Co., Ltd.		400			9,670
Shikoku Electric Power Co., Inc.		100			2,835
Shin-Etsu Chemical Co., Ltd.		100			5,811
Shinko Shoji Co., Ltd.		900			7,773
Showa Denko K.K.		3,000			6,774
Showa Shell Sekiyu K.K.		400			2,705
Sojitz Corp.		1,500			2,906
Sony Corp.		400			15,325
Stanley Electric Co., Ltd.		100			1,940
Sumitomo Chemical Co., Ltd.		3,000			14,673
Sumitomo Corp.		1,100			12,655
Sumitomo Electric Industries Ltd.		400			4,906
Sumitomo Metal Industries Ltd.		4,000			12,115
Sumitomo Mitsui Financial Group, Inc.		400			13,228
Sumitomo Rubber Industries, Inc.		700			6,173
Sumitomo Trust & Banking Co., Ltd. (The)		3,000			17,594
Suzuken Co., Ltd.		100			3,526
Suzuki Motor Corp.		100			2,208
T&D Holdings, Inc.		50			1,184
Taisei Corp.		1,000			2,205
Takeda Pharmaceutical Co., Ltd.		800			35,231
Takefuji Corp.		480			2,045
TDK Corp.		100			6,657

 

See Notes to Financial Statements.

 

88		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments (continued)

WisdomTree International Hedged Equity Fund (HEDJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Teijin Ltd.		3,000		$	10,081
Tohoku Electric Power Co., Inc.		400			8,459
Tokio Marine Holdings, Inc.		100			2,818
Tokyo Electric Power Co., Inc. (The)		700			18,669
Tokyo Gas Co., Ltd.		1,000			4,409
Tokyu Livable, Inc.		100			912
Toyota Motor Corp.		1,500			60,119
Toyota Tsusho Corp.		100			1,569
USS Co., Ltd.		110			7,475
Yamaha Corp.		100			1,292
Yamatake Corp.		200			4,679
Yamazen Corp.		800			3,399
Yokogawa Electric Corp.*		400			3,485
Total Japan					1,182,160
Netherlands – 2.5%
Akzo Nobel N.V.		370			21,125
Corio N.V.		187			12,508
Heineken N.V.		421			21,675
Koninklijke Ahold N.V.		1,030			13,756
Koninklijke DSM N.V.		429			19,165
Koninklijke KPN N.V.		2,045			32,458
Koninklijke Philips Electronics N.V.		1,273			40,892
Reed Elsevier N.V.		943			11,481
STMicroelectronics N.V.		1,316			13,017
Unilever N.V. CVA		1,250			37,878
Wolters Kluwer N.V.		708			15,381
Total Netherlands					239,336
New Zealand – 0.2%
Contact Energy Ltd.*		1,615			7,334
Fletcher Building Ltd.		1,246			7,382
Telecom Corp. of New Zealand Ltd.		5,674			8,737
Total New Zealand					23,453
Norway – 1.2%
Fred Olsen Energy ASA		560			21,463
Orkla ASA		1,826			16,166
Statoil ASA		3,427			79,444
Total Norway					117,073
Portugal – 0.9%
Banco Espirito Santo S.A.		1,853			10,029
Brisa Auto-Estradas de Portugal S.A.		1,827			15,525
EDP-Energias de Portugal S.A.		4,592			18,286
Galp Energia, SGPS, S.A. Class B		926			16,113
Portugal Telecom, SGPS, S.A.		2,137			23,937
Total Portugal					83,890
Singapore – 2.2%
CapitaLand Ltd.		3,000			8,519
Cosco Corp.(Singapore) Ltd.		7,000			6,209
Fraser and Neave Ltd.		1,000			3,433
Keppel Corp., Ltd.		1,000			6,523
Oversea-Chinese Banking Corp., Ltd.		1,000			6,230
Pacific Century Regional Developments Ltd.		27,000			3,766
SembCorp Industries Ltd.		1,000			2,954

Investments		Shares		Value
SembCorp Marine Ltd.		3,000		$	8,991
SIA Engineering Co., Ltd.		3,000			7,618
Singapore Airlines Ltd.		3,000			32,617
Singapore Airport Terminal Services Ltd.		7,000			13,269
Singapore Exchange Ltd.		3,000			16,416
Singapore Land Ltd.		3,000			14,592
Singapore Press Holdings Ltd.		3,000			8,197
Singapore Technologies Engineering Ltd.		7,000			15,972
Singapore Telecommunications Ltd.		12,000			27,209
StarHub Ltd.		4,000			6,552
United Overseas Bank Ltd.		1,000			13,748
Wilmar International Ltd.		1,000			4,792
Total Singapore					207,607
Spain – 7.2%
Abertis Infraestructuras, S.A.		644			12,417
Acciona, S.A.		68			7,555
ACS Actividades de Construccion y Servicios, S.A.		362			16,732
Banco Bilbao Vizcaya Argentaria S.A.		4,117			56,431
Banco de Sabadell S.A.		2,076			11,483
Banco Espanol de Credito S.A.		1,369			14,449
Banco Pastor S.A.		935			5,434
Banco Popular Espanol S.A.		2,084			15,368
Banco Santander S.A.		11,048			147,099
Bolsas y Mercados Espanoles S.A.		482			12,927
Cia Espanola de Petroleos S.A.		214			6,035
Criteria Caixacorp S.A.		5,299			26,307
Ferrovial S.A.		1,934			18,842
Fomento de Construcciones y Contratas S.A.		323			11,846
Gas Natural SDG S.A.		1,822			33,701
Gestevision Telecinco S.A.		1,035			16,273
Iberdrola S.A.		4,141			35,160
Inditex S.A.		616			40,679
Mapfre S.A.		3,863			14,197
Red Electrica Corp. S.A.		207			11,129
Repsol YPF S.A.		1,547			36,695
Telefonica S.A.		5,460			129,584
Zardoya Otis, S.A.		486			8,437
Total Spain					688,780
Sweden – 2.7%
Atlas Copco AB Class A		1,508			23,468
Hennes & Mauritz AB Class B		779			50,775
Nordea Bank AB		2,181			21,592
Sandvik AB		2,049			25,694
Skanska AB Class B		1,416			25,813
Svenska Cellulosa AB Class B*		1,190			16,832
Svenska Handelsbanken AB Class A		887			26,079
Tele2 AB Class B		1,297			21,716
Telefonaktiebolaget LM Ericsson Class B		1,857			19,636
TeliaSonera AB*		4,055			28,876
Total Sweden					260,481

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		89

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Table of Contents

Schedule of Investments (concluded)

WisdomTree International Hedged Equity Fund (HEDJ)

March 31, 2010

  

 

 

Investments		Shares		Value
Switzerland – 5.6%
Adecco S.A.		390		$	22,176
Compagnie Financiere Richemont S.A. Class A		935			36,270
Geberit AG		123			22,051
Holcim Ltd.*		354			26,435
Kuehne + Nagel International AG		139			14,091
Nestle S.A.		2,484			127,439
Novartis AG		2,194			118,710
Roche Holding AG		436			70,834
SGS S.A.		16			22,103
Swisscom AG		67			24,494
Syngenta AG		48			13,353
Zurich Financial Services AG		152			39,034
Total Switzerland					536,990
United Kingdom – 19.1%
Admiral Group PLC		848			16,980
Antofagasta PLC		1,878			29,627
Associated British Foods PLC		1,209			17,945
AstraZeneca PLC		1,372			61,166
Aviva PLC		3,613			21,117
BAE Systems PLC		4,098			23,081
BG Group PLC		733			12,681
BHP Billiton PLC		1,655			56,737
BP PLC		24,275			229,553
British American Tobacco PLC		1,754			60,437
British Land Co. PLC		1,480			10,801
British Sky Broadcasting Group PLC		1,694			15,469
BT Group PLC		24,047			45,195
Cable & Wireless Communications PLC		7,086			5,949
Cable & Wireless Worldwide*		7,086			9,889
Centrica PLC		5,133			22,884
Compass Group PLC		2,972			23,713
Diageo PLC		2,014			33,789
Drax Group PLC		2,052			11,629
Eurasian Natural Resources Corp. PLC		1,368			24,735
GlaxoSmithKline PLC		4,801			92,162
HSBC Holdings PLC		14,921			151,193
Imperial Tobacco Group PLC		844			25,733
International Power PLC		3,190			15,431
J. Sainsbury PLC		2,944			14,630
Land Securities Group PLC		1,484			15,262
Legal & General Group PLC		10,508			14,035
Man Group PLC		4,345			15,917
Marks & Spencer Group PLC		3,502			19,660
National Grid PLC		3,027			29,456
Pearson PLC		1,488			23,384
Prudential PLC		2,462			20,447
Reckitt Benckiser Group PLC		419			22,989
Reed Elsevier PLC		1,587			12,650
Rio Tinto PLC		776			45,966
Royal Dutch Shell PLC Class A		3,556			103,027
Royal Dutch Shell PLC Class B		3,222			88,732
RSA Insurance Group PLC		7,101			13,734

Investments		Shares		Value
SABMiller PLC		947		$	27,753
Scottish & Southern Energy PLC		1,018			17,002
Segro PLC		3,211			15,567
Severn Trent PLC		755			13,686
Standard Chartered PLC		1,612			43,953
Standard Life PLC		4,365			13,262
Tesco PLC		4,345			28,700
Unilever PLC		1,150			33,755
United Utilities Group PLC		2,287			19,393
Vodafone Group PLC		57,968			133,656
WM Morrison Supermarkets PLC		3,377			15,035
Total United Kingdom					1,819,547
United States – 0.1%
Kraft Foods, Inc. Class A		238			7,197
TOTAL COMMON STOCKS (Cost: $9,129,004)					9,443,250
RIGHTS – 0.0%
Germany – 0.0%
Volkswagen AG, expiring 4/13/10*		48			30
Spain – 0.0%
Banco Pastor S.A., expiring 4/19/10*		935			121
TOTAL RIGHTS (Cost: $0)					151
TOTAL LONG-TERM INVESTMENTS (Cost: $9,129,004)					9,443,401
SHORT-TERM INVESTMENT – 0.8%
MONEY MARKET FUND – 0.8%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $70,917)		70,917			70,917
TOTAL INVESTMENTS IN SECURITIES – 99.7% (Cost: $9,199,921)					9,514,318
Foreign Currency and Other Assets in Excess of Liabilities – 0.3%					30,700
NET ASSETS – 100.0%				$	9,545,018

RSP	– Risparmio Italian Savings Shares

 

*	Non-income producing security.

 

(a)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

See Notes to Financial Statements.

 

90		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree International Basic Materials Sector Fund (DBN)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.7%
Australia – 20.1%
Adelaide Brighton Ltd.		71,092		$	168,349
BHP Billiton Ltd.		143,631			5,746,543
BlueScope Steel Ltd.*		147,490			393,937
Boral Ltd.		57,942			298,351
Felix Resources Ltd. In Specie*† ††		12,885			1,203
Incitec Pivot Ltd.		159,621			508,383
OneSteel Ltd.		110,060			393,972
Orica Ltd.		24,401			600,001
Rio Tinto Ltd.		21,625			1,556,122
Sims Metal Management Ltd.		11,513			228,886
Total Australia					9,895,747
Austria – 2.2%
voestalpine AG		26,596			1,077,812
Belgium – 1.9%
Solvay S.A.		6,144			632,736
Umicore		7,801			272,913
Total Belgium					905,649
Denmark – 0.2%
Auriga Industries Class B		4,153			78,502
Finland – 2.7%
Outokumpu Oyj(a)		10,597			233,005
Rautaruukki Oyj(a)		20,406			441,782
UPM-Kymmene Oyj(a)		50,151			666,717
Total Finland					1,341,504
France – 7.9%
Air Liquide S.A.		11,875			1,428,129
Arkema S.A.		4,325			160,407
Ciments Francais S.A.		2,390			229,575
Eramet(a)		1,017			350,700
Imerys S.A.		5,628			347,560
Lafarge S.A.		16,519			1,164,531
Sa des Ciments Vicat		2,360			185,244
Total France					3,866,146
Germany – 16.4%
Aurubis AG		6,227			321,484
BASF SE		84,426			5,245,753
K+S AG		13,444			817,325
Lanxess AG		4,437			204,816
Linde AG		6,938			829,319
Salzgitter AG		2,087			194,088
Symrise AG		8,862			211,404
Wacker Chemie AG		1,666			248,871
Total Germany					8,073,060
Hong Kong – 0.5%
China Agri-Industries Holdings Ltd.		174,000			240,226
Ireland – 1.7%
CRH PLC		33,530			838,881

Investments		Shares		Value
Italy – 0.5%
Buzzi Unicem SpA		10,851		$	136,914
Italcementi SpA		9,914			114,829
Total Italy					251,743
Japan – 13.2%
Air Water, Inc.		11,000			125,963
Asahi Kasei Corp.		57,000			306,839
DIC Corp.		88,000			190,240
JFE Holdings, Inc.		23,100			930,774
JSR Corp.		11,800			246,633
Kaneka Corp.		24,000			155,651
Kuraray Co., Ltd.		18,000			242,337
Mitsubishi Chemical Holdings Corp.		76,500			391,342
Mitsubishi Gas Chemical Co., Inc.		34,000			204,859
Nippon Mining Holdings, Inc.		51,500			236,721
Nippon Paper Group, Inc.		7,800			200,760
Nippon Steel Corp.		115,000			451,680
Nisshin Steel Co., Ltd.		69,000			143,996
OJI Paper Co., Ltd.		54,000			236,943
Shin-Etsu Chemical Co., Ltd.		14,000			813,570
Showa Denko K.K.		94,000			212,265
Sumitomo Chemical Co., Ltd.		64,000			313,014
Sumitomo Metal Industries Ltd.		274,000			829,859
Taiyo Nippon Sanso Corp.		14,000			136,943
Ube Industries Ltd.		51,000			130,993
Total Japan					6,501,382
Netherlands – 1.3%
Koninklijke DSM N.V.		14,267			637,344
New Zealand – 0.8%
Fletcher Building Ltd.		61,428			363,945
Norway – 0.9%
Yara International ASA		10,287			447,133
Portugal – 1.1%
Cimpor Cimentos de Portugal SGPS S.A.		48,996			370,929
Portucel Empresa Produtora de Pasta e Papel S.A.(a)		66,326			189,363
Total Portugal					560,292
Spain – 0.7%
Acerinox S.A.		16,747			330,275
Sweden – 1.1%
Holmen AB Class B(a)		6,855			185,257
SSAB AB Class A(a)		20,344			366,910
Total Sweden					552,167
Switzerland – 5.5%
EMS-Chemie Holding AG		2,910			399,778
Holcim Ltd.*		19,976			1,491,723
Syngenta AG		2,959			823,139
Total Switzerland					2,714,640

 

See Notes to Financial Statements.

 

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Schedule of Investments (concluded)

WisdomTree International Basic Materials Sector Fund (DBN)

March 31, 2010

  

 

 

Investments		Shares		Value
United Kingdom – 21.0%
Antofagasta PLC		89,372		$	1,409,912
BHP Billiton PLC		106,348			3,645,817
Bunzl PLC		26,802			293,130
Eurasian Natural Resources Corp. PLC		55,182			997,771
Johnson Matthey PLC		11,067			293,110
Mondi PLC		34,788			244,905
Rio Tinto PLC		52,002			3,080,337
Vedanta Resources PLC(a)		7,988			336,368
Total United Kingdom					10,301,350
TOTAL COMMON STOCKS (Cost: $49,977,971)					48,977,798
SHORT-TERM INVESTMENT – 0.2%
MONEY MARKET FUND – 0.2%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $106,239)		106,239			106,239
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.5%
MONEY MARKET FUND – 5.5%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $2,691,022)(d)		2,691,022			2,691,022
TOTAL INVESTMENTS IN SECURITIES – 105.4% (Cost: $52,775,232)					51,775,059
Liabilities in Excess of Foreign Currency and Other Assets – (5.4)%					(2,637,759	)
NET ASSETS – 100.0%				$	49,137,300

*	Non-income producing security.

 

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $1,203, which represents .0024% of net assets.

 

††	Restricted security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $2,559,133 and the total market value of the collateral held by the Fund was $2,691,022.

 

See Notes to Financial Statements.

 

92		WisdomTree International Dividend and Sector Funds

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Schedule of Investments

WisdomTree International Energy Sector Fund (DKA)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.6%
Australia – 10.2%
Beach Energy Ltd.		19,322		$	13,124
Centennial Coal Co., Ltd.		28,942			113,164
Gloucester Coal Ltd.*		3,892			32,150
New Hope Corp., Ltd.		26,438			125,456
Santos Ltd.		94,321			1,269,153
Whitehaven Coal Ltd.		5,797			27,295
Woodside Petroleum Ltd.		40,971			1,763,685
WorleyParsons Ltd.		54,979			1,284,270
Total Australia					4,628,297
Austria – 3.0%
OMV AG		32,803			1,233,035
Schoeller-Bleckmann Oilfield Equipment AG		2,775			146,477
Total Austria					1,379,512
Finland – 3.2%
Neste Oil Oyj		83,713			1,462,342
France – 13.6%
Etablissements Maurel et Prom		65,969			1,075,168
Technip S.A.		22,779			1,855,499
TOTAL S.A.		55,873			3,249,362
Total France					6,180,029
Hong Kong – 6.1%
CNOOC Ltd.		1,696,318			2,791,987
Italy – 10.9%
ENI SpA		123,439			2,901,228
ERG SpA		11,024			155,580
Saipem SpA		49,094			1,903,193
Total Italy					4,960,001
Japan – 6.2%
AOC Holdings, Inc.		1,400			8,660
Cosmo Oil Co., Ltd.		13,000			31,443
Idemitsu Kosan Co., Ltd.		400			30,308
Itochu Enex Co., Ltd.		3,000			15,828
Modec, Inc.		200			3,590
Nippon Oil Corp.		209,000			1,035,606
San-Ai Oil Co., Ltd.		1,000			4,013
Showa Shell Sekiyu K.K.		103,900			702,748
Sinanen Co., Ltd.		16,000			66,267
TonenGeneral Sekiyu K.K.		111,250			939,386
Total Japan					2,837,849
Netherlands – 4.3%
Fugro N.V. CVA		27,831			1,822,276
SBM Offshore N.V.		7,703			154,416
Total Netherlands					1,976,692
Norway – 6.9%
Aker ASA Class A		6,541			180,724
Statoil ASA		126,674			2,936,527
Total Norway					3,117,251

Investments		Shares		Value
Portugal – 3.8%
Galp Energia, SGPS, S.A. Class B		99,292		$	1,727,766
Singapore – 0.4%
Straits Asia Resources Ltd.		130,000			200,851
Spain – 6.6%
Cia Espanola de Petroleos S.A.		33,384			941,382
Repsol YPF S.A.		86,763			2,058,004
Total Spain					2,999,386
United Kingdom – 24.4%
BG Group PLC		75,415		$	1,304,698
BP PLC		413,228			3,907,632
Hunting PLC		2,601			24,284
JKX Oil & Gas PLC		3,187			13,633
John Wood Group PLC		10,819			59,639
Royal Dutch Shell PLC Class A		104,772			3,035,538
Royal Dutch Shell PLC Class B		97,305			2,679,715
Tullow Oil PLC		4,382			83,088
Wellstream Holdings PLC		1,672			16,613
Total United Kingdom					11,124,840
TOTAL COMMON STOCKS (Cost: $52,594,060)					45,386,803
SHORT-TERM INVESTMENT – 0.6%
MONEY MARKET FUND – 0.6%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(a)
(Cost: $261,366)		261,366			261,366
TOTAL INVESTMENTS IN SECURITIES – 100.2% (Cost: $52,855,426)					45,648,169
Liabilities in Excess of Foreign Currency and Other Assets – (0.2)%					(79,481	)
NET ASSETS – 100.0%				$	45,568,688

*	Non-income producing security.

 

(a)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

See Notes to Financial Statements.

 

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Table of Contents

Schedule of Investments

WisdomTree International Utilities Sector Fund (DBU)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.7%
Australia – 2.3%
AGL Energy Ltd.		35,695		$	492,423
Origin Energy Ltd.		40,809			619,905
Total Australia					1,112,328
Austria – 1.3%
EVN AG		6,687			116,360
Verbund – Oesterreichische Elektrizitaetswirtschafts AG Class A(a)		13,433			534,198
Total Austria					650,558
Finland – 3.3%
Fortum Oyj(a)		65,576			1,606,916
France – 16.1%
Electricite de France		61,970			3,387,604
GDF Suez		86,808			3,359,352
Veolia Environnement		34,534			1,199,973
Total France					7,946,929
Germany – 13.4%
E.ON AG		88,063			3,257,183
RWE AG		37,972			3,370,521
Total Germany					6,627,704
Hong Kong – 5.1%
China Resources Power Holdings Co., Ltd.		36,000			77,057
CLP Holdings Ltd.		144,822			1,035,149
Hong Kong & China Gas Co., Ltd.		241,360			601,791
Hongkong Electric Holdings Ltd.		137,386			814,793
Total Hong Kong					2,528,790
Italy – 15.1%
A2A SpA		333,219			626,270
Edison SpA(a)		398,408			608,089
Enel SpA		600,173			3,362,068
Hera SpA		137,216			323,246
Iride SpA		156,213			303,318
Snam Rete Gas SpA		279,390			1,418,604
Terna Rete Elettrica Nazionale SpA		186,437			807,888
Total Italy					7,449,483
Japan – 12.8%
Chubu Electric Power Co., Inc.		30,400			760,326
Chugoku Electric Power Co., Inc. (The)		18,600			369,850
Electric Power Development Co., Ltd.		11,600			382,363
Hokkaido Electric Power Co., Inc.		17,700			339,831
Hokuriku Electric Power Co.		13,500			297,046
Kansai Electric Power Co., Inc. (The)		37,000			848,181
Kyushu Electric Power Co., Inc.		23,100			503,088
Osaka Gas Co., Ltd.		102,000			365,689
Shikoku Electric Power Co., Inc.		10,400			294,837
Tohoku Electric Power Co., Inc.		24,400			515,993
Tokyo Electric Power Co., Inc. (The)		41,100			1,096,117
Tokyo Gas Co., Ltd.		121,000			533,519
Total Japan					6,306,840

Investments		Shares		Value
New Zealand – 1.1%
Contact Energy Ltd.*		85,393		$	387,780
Vector Ltd.		105,066			158,045
Total New Zealand					545,825
Portugal – 2.0%
EDP-Energias de Portugal S.A.		248,979			991,477
Spain – 12.9%
Enagas		21,930			481,452
Gas Natural SDG S.A.		113,096			2,091,922
Iberdrola S.A.		350,868			2,979,114
Red Electrica Corp. S.A.		9,285			499,212
Sociedad General de Aguas de Barcelona S.A. Class A		11,663			314,204
Total Spain					6,365,904
Switzerland – 0.6%
BKW FMB Energie AG		4,115			306,313
United Kingdom – 13.7%
Centrica PLC		299,582			1,335,588
Drax Group PLC		62,381			353,522
International Power PLC		120,757			584,149
National Grid PLC		173,961			1,692,800
Northumbrian Water Group PLC		69,383			297,954
Pennon Group PLC		37,903			300,412
Scottish & Southern Energy PLC		57,714			963,886
Severn Trent PLC		24,332			441,065
United Utilities Group PLC		91,256			773,803
Total United Kingdom					6,743,179
TOTAL COMMON STOCKS (Cost: $62,586,115)					49,182,246
SHORT-TERM INVESTMENT – 0.0%
MONEY MARKET FUND – 0.0%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(b)
(Cost: $31,051)		31,051			31,051
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.5%
MONEY MARKET FUND – 5.5%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(c)
(Cost: $2,697,022)(d)		2,697,022			2,697,022
TOTAL INVESTMENTS IN SECURITIES – 105.2% (Cost: $65,314,188)					51,910,319
Liabilities in Excess of Foreign Currency and Other Assets – (5.2)%					(2,562,303	)
NET ASSETS – 100.0%				$	49,348,016

*	Non-income producing security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(c)	Interest rate shown reflects yield as of March 31, 2010.

 

(d)	At March 31, 2010, the total market value of the Fund’s securities on loan was $2,560,708 and the total market value of the collateral held by the Fund was $2,697,022.

 

See Notes to Financial Statements.

 

94		WisdomTree International Dividend and Sector Funds

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Table of Contents

Schedule of Investments

WisdomTree International Real Estate Fund (DRW)

March 31, 2010

  

 

 

Investments		Shares		Value
COMMON STOCKS – 99.1%
Australia – 17.4%
Abacus Property Group		651,405		$	239,157
Astro Japan Property Group(a)		487,112			163,190
Australand Property Group		723,935			338,876
CFS Retail Property Trust		487,397			838,795
Charter Hall Office REIT		1,770,238			463,071
Charter Hall Retail REIT		864,549			444,375
Commonwealth Property Office Fund		526,876			437,652
Dexus Property Group		1,124,971			836,369
FKP Property Group		359,642			236,020
GPT Group		2,835,438			1,496,441
GPT Group In Specie*† ††		2,305,813			—
ING Office Fund(b)		812,120			436,061
Lend Lease Group(b)		145,110			1,153,418
Stockland		563,792			2,064,730
Westfield Group		499,612			5,530,339
Total Australia					14,678,494
Belgium – 0.9%
Cofinimmo		5,217			736,619
Finland – 0.3%
Citycon Oyj		74,651			297,980
France – 16.1%
Fonciere Des Regions(a)		15,157			1,672,503
Gecina S.A.		33,008			3,659,695
ICADE		10,353			1,154,452
Klepierre		44,200			1,739,187
Mercialys S.A.		12,684			456,528
Societe Immobiliere de Location pour l’Industrie et le Commerce		5,012			634,024
Unibail-Rodamco SE		20,953			4,252,724
Total France					13,569,113
Germany – 0.6%
Alstria Office REIT-AG		20,530			233,345
Deutsche Euroshop AG		8,363			275,148
Total Germany					508,493
Hong Kong – 26.0%
Champion Real Estate Investment Trust(a)		1,725,000			824,211
Cheung Kong (Holdings) Ltd.		249,238			3,209,886
China Overseas Land & Investment Ltd.		270,400			610,818
GZI Real Estate Investment Trust		607,233			258,074
Hang Lung Group Ltd.		109,649			581,805
Hang Lung Properties Ltd.		434,283			1,750,622
Henderson Land Development Co., Ltd.		195,320			1,375,971
Hopewell Holdings Ltd.		119,500			353,974
Hysan Development Co., Ltd.		159,115			460,048
Kowloon Development Co., Ltd.		252,398			319,857
Link REIT (The)		380,446			937,800
New World Development Ltd.		372,125			728,463
Regal Real Estate Investment Trust		1,898,000			466,880
Shenzhen Investment Ltd.		562,000			208,451
Sino Land Co., Ltd.		606,305			1,188,451

Investments		Shares		Value
Sino-Ocean Land Holdings Ltd.		266,500		$	234,762
Sun Hung Kai Properties Ltd.		269,871			4,059,517
Sunlight Real Estate Investment Trust		1,160,000			286,837
Swire Pacific Ltd. Class A		114,959			1,382,818
Swire Pacific Ltd. Class B		387,298			849,944
Wharf Holdings Ltd.		296,545			1,670,875
Wheelock & Co., Ltd.		56,231			165,839
Total Hong Kong					21,925,903
Japan – 13.4%
Aeon Mall Co., Ltd.		7,196			151,791
DA Office Investment Corp.		174			371,873
Daito Trust Construction Co., Ltd.		11,400			550,235
Daiwa House Industry Co., Ltd.		58,000			654,859
Frontier Real Estate Investment Corp.		36			279,709
Fukuoka REIT Co.		42			224,069
Japan Excellent, Inc.		62			295,933
Japan Logistics Fund, Inc.		24			192,380
Japan Prime Realty Investment Corp.		194			432,057
Japan Real Estate Investment Corp.		86			733,540
Japan Retail Fund Investment Corp.		460			541,524
Kenedix Realty Investment Corp.		74			198,859
MID REIT, Inc.		99			202,789
Mitsubishi Estate Co., Ltd.		53,589			877,474
Mitsui Fudosan Co., Ltd.		46,308			786,503
Mori Hills REIT Investment Corp.(a)		54			118,645
Mori Trust Sogo REIT, Inc.		45			394,906
Nippon Accommodations Fund, Inc.		34			175,021
Nippon Building Fund, Inc.		114			982,128
Nippon Commercial Investment Corp.		150			202,590
Nomura Real Estate Holdings, Inc.		15,065			232,489
Nomura Real Estate Office Fund, Inc.		76			427,012
Orix JREIT, Inc.		73			330,859
Premier Investment Corp.		55			180,999
Sumitomo Real Estate Sales Co., Ltd.(a)		3,566			154,944
Sumitomo Realty & Development Co., Ltd.		20,279			386,091
Tokyo Tatemono Co., Ltd.		42,751			153,728
Tokyu Land Corp.(a)		45,168			172,570
Tokyu REIT, Inc.		48			252,483
Top REIT, Inc.		49			221,821
United Urban Investment Corp.		70			403,039
Total Japan					11,282,920
Netherlands – 4.4%
Corio N.V.		19,658			1,314,933
Eurocommercial Properties N.V.		11,909			479,393
Nieuwe Steen Investments Funds N.V.		18,844			400,953
Vastned Offices/Industrial N.V.		14,600			265,708
VastNed Retail N.V.		7,813			522,774
Wereldhave N.V.		7,290			699,956
Total Netherlands					3,683,717
New Zealand – 0.9%
AMP NZ Office Trust		362,625			192,975
Goodman Property Trust		426,291			302,475
Kiwi Income Property Trust		332,771			236,118
Total New Zealand					731,568

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		95

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Table of Contents

Schedule of Investments (concluded)

WisdomTree International Real Estate Fund (DRW)

March 31, 2010

 

Investments		Shares		Value
Singapore – 9.4%
Ascendas Real Estate Investment Trust(a)		574,901		$	789,535
Ascott Residence Trust		377,000			334,380
Cambridge Industrial Trust		742,472			246,951
CapitaCommercial Trust		745,635			576,007
CapitaLand Ltd.		334,589			950,122
CapitaMall Trust		747,786			946,734
CDL Hospitality Trusts(b)		479,432			617,272
City Developments Ltd.(a)		38,103			288,897
Frasers Centrepoint Trust		300,432			287,957
Frasers Commercial Trust		1,775,070			190,451
Keppel Land Ltd.		120,168			315,451
Lippo-Mapletree Indonesia Retail Trust		530,782			182,236
Mapletree Logistics Trust		921,285			560,132
Singapore Land Ltd.		75,544			367,440
Starhill Global REIT		668,526			267,783
Suntec Real Estate Investment Trust		807,828			774,285
UOL Group Ltd.		96,000			267,802
Total Singapore					7,963,435
Sweden – 1.9%
Castellum AB(a)		48,758			492,864
Fabege AB(a)		58,355			395,682
Hufvudstaden AB Class A(a)		43,621			374,267
Wihlborgs Fastigheter AB		14,407			305,275
Total Sweden					1,568,088
United Kingdom – 7.8%
British Land Co. PLC		160,964			1,174,685
Derwent London PLC		12,674			262,616
Hammerson PLC		99,605			594,392
Land Securities Group PLC		224,548			2,309,383
Segro PLC		459,994			2,230,057
Total United Kingdom					6,571,133
TOTAL COMMON STOCKS (Cost: $94,425,178)					83,517,463
SHORT-TERM INVESTMENT – 1.0%
MONEY MARKET FUND – 1.0%
AIM Short-Term Investment Treasury Fund Private Class, 0.02%(c)
(Cost: $803,300)		803,300			803,300
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.2%
MONEY MARKET FUND – 5.2%
Dreyfus Institutional Preferred Money Market Fund, 0.11%(d)
(Cost: $4,427,036)(e)		4,427,036			4,427,036

Investments		Shares		Value
TOTAL INVESTMENTS IN SECURITIES – 105.3% (Cost: $99,655,514)				$	88,747,799
Liabilities in Excess of Foreign Currency and Other Assets – (5.3)%					(4,472,220	)
NET ASSETS – 100.0%				$	84,275,579

†	Security is being fair valued by a valuation committee under the direction of the Board of Trustees. The aggregate value of fair valued securities is $0, which represents 0% of net assets.

 

††	Restricted security.

 

(a)	Security, or portion thereof, was on loan at March 31, 2010 (See Note 2).

 

(b)	Stapled Security – A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

 

(c)	Rate shown represents annualized 7-day yield as of March 31, 2010.

 

(d)	Interest rate shown reflects yield as of March 31, 2010.

 

(e)	At March 31, 2010, the total market value of the Fund’s securities on loan was $4,143,550 and the total market value of the collateral held by the Fund was $4,427,036.

 

See Notes to Financial Statements.

 

96		WisdomTree International Dividend and Sector Funds

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Table of Contents

Statements of Assets and Liabilities

WisdomTree International Dividend and Sector Funds

March 31, 2010

  

 

 

		WisdomTree DEFA Fund				WisdomTree DEFA Equity Income Fund				WisdomTree Global Equity Income Fund1				WisdomTree Europe SmallCap Dividend Fund				WisdomTree Japan Total Dividend Fund				WisdomTree World ex-U.S. Growth Fund2
ASSETS:
Investments, at cost		$	426,502,253			$	160,779,956			$	41,235,734			$	33,511,486			$	63,704,641			$	20,811,005
Investment in affiliate, at cost			—				—				—				—				—				328,051
Foreign currency, at cost			832,024				159,360				168,410				62,947				—				70,395
Investments in securities, at value (including securities on loan)3			434,724,519				150,681,707				42,893,115				32,083,452				60,445,539				24,826,092
Investment in affiliate, at value			—				—				—				—				—				358,979
Cash			—				—				49,557				—				254,507				—
Foreign currency, at value			835,503				159,272				170,507				63,360				—				70,718
Receivables:
Dividends and interest			1,417,609				422,641				136,154				123,423				504,246				123,017
Investment securities sold			—				—				—				95,863				—				64,473
Unrealized appreciation on foreign currency contracts			—				—				79				—				—				—
Foreign tax reclaims			369,354				89,443				28,270				27,767				—				619
Total Assets			437,346,985				151,353,063				43,277,682				32,393,865				61,204,292				25,443,898
LIABILITIES:
Due to custodian			—				—				—				—				189,043				—
Payables:
Collateral for securities on loan (Note 2)			—				8,375,068				—				2,169,018				6,240,050				385,003
Investment securities purchased			—				—				—				39,443				—				—
Advisory fees (Note 3)			177,397				70,631				20,940				14,468				21,902				11,951
Service fees (Note 2)			1,626				536				159				110				201				92
Unrealized depreciation on foreign currency contracts			27				16				52				674				2,383				1,483
Distribution			1,262,331				609,314				214,746				75,488				—				240,180
Total Liabilities			1,441,381				9,055,565				235,897				2,299,201				6,453,579				638,709
NET ASSETS		$	435,905,604			$	142,297,498			$	43,041,785			$	30,094,664			$	54,750,713			$	24,805,189
NET ASSETS:
Paid-in capital		$	646,420,212			$	221,437,461			$	63,961,941			$	55,564,169			$	62,291,289			$	33,987,711
Undistributed net investment income			1,129,494				260,617				62,883				82,669				423,472				36,952
Accumulated net realized loss on investments and foreign currency related transactions			(219,881,026	)			(69,304,372	)			(22,642,472	)			(24,121,643	)			(4,697,717	)			(13,268,401	)
Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			8,236,924				(10,096,208	)			1,659,433				(1,430,531	)			(3,266,331	)			4,048,927
NET ASSETS		$	435,905,604			$	142,297,498			$	43,041,785			$	30,094,664			$	54,750,713			$	24,805,189
Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)			9,450,000				3,400,000				1,050,000				800,000				1,300,000				500,000
Net asset value per share		$	46.13			$	41.85			$	40.99			$	37.62			$	42.12			$	49.61

1	This information reflects the investment objective and strategy of the WisdomTree Europe Equity Income Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree Global Equity Income Fund thereafter.

 

2	This information reflects the investment objective and strategy of the WisdomTree Japan Equity Income Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree World ex-U.S. Growth Fund thereafter.

 

3	Market values of securities on loan were as follows: $0, $6,879,952, $0, $1,756,761, $5,945,247 and $361,474, respectively (Note 2).

 

See Notes to Financial Statements.

 

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Table of Contents

Statements of Assets and Liabilities (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

  

 

 

		WisdomTree Japan SmallCap Dividend Fund				WisdomTree Pacific ex-Japan Total Dividend Fund				WisdomTree Pacific ex-Japan Equity Income Fund				WisdomTree International LargeCap Dividend Fund				WisdomTree International Dividend ex-Financials Fund				WisdomTree International MidCap Dividend Fund
ASSETS:
Investments, at cost		$	177,098,594			$	89,412,919			$	126,440,050			$	164,188,444			$	158,063,951			$	170,152,341
Foreign currency, at cost			98,648				149,936				390,429				175,339				1,150,593				136,381
Investments in securities, at value (including securities on loan)2			172,796,192				91,831,054				132,396,440				155,731,554				167,016,573				159,921,152
Foreign currency, at value			98,352				149,873				390,442				175,763				1,168,475				136,278
Receivables:
Dividends and interest			1,410,269				304,506				790,398				499,214				407,537				581,950
Investment securities sold			—				—				—				—				—				—
Capital shares sold			12,522,508				—				—				—				—				—
Foreign tax reclaims			—				118				—				119,652				298,746				102,357
Total Assets			186,827,321				92,285,551				133,577,280				156,526,183				168,891,331				160,741,737
LIABILITIES:
Due to custodian			—				—				11				—				—				—
Payables:
Collateral for securities on loan (Note 2)			16,486,133				2,705,022				14,887,120				6,188,050				4,105,033				14,078,114
Investment securities purchased			12,423,828				—				—				—				—				—
Advisory fees (Note 3)			66,941				35,994				57,638				60,569				79,602				70,556
Service fees (Note 2)			508				330				437				555				604				535
Unrealized depreciation on foreign currency contracts			—				—				—				12				—				—
Distribution			—				510,907				1,293,468				652,707				368,560				523,590
Total Liabilities			28,977,410				3,252,253				16,238,674				6,901,893				4,553,799				14,672,795
NET ASSETS		$	157,849,911			$	89,033,298			$	117,338,606			$	149,624,290			$	164,337,532			$	146,068,942
NET ASSETS:
Paid-in capital		$	178,163,107			$	101,545,497			$	124,543,235			$	192,928,445			$	304,118,792			$	218,860,416
Undistributed net investment income			1,271,266				50,779				118,893				318,572				271,354				579,567
Accumulated net realized loss on investments and foreign currency related transactions			(17,266,658	)			(14,986,088	)			(13,292,502	)			(35,170,764	)			(149,016,786	)			(63,137,737	)
Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			(4,317,804	)			2,423,110				5,968,980				(8,451,963	)			8,964,172				(10,233,304	)
NET ASSETS		$	157,849,911			$	89,033,298			$	117,338,606			$	149,624,290			$	164,337,532			$	146,068,942
Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)			3,800,000				1,450,000				2,050,000				3,300,000				3,850,000				3,000,000
Net asset value per share		$	41.54			$	61.40			$	57.24			$	45.34			$	42.69			$	48.69

1	Market values of securities on loan were as follows: $15,671,174, $2,557,537, $14,111,153, $5,886,074, $3,899,284 and $13,384,845, respectively (Note 2).

 

See Notes to Financial Statements.

 

98		WisdomTree International Dividend and Sector Funds

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Table of Contents

Statements of Assets and Liabilities (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

  

 

 

		WisdomTree International SmallCap Dividend Fund				WisdomTree Emerging Markets Equity Income Fund				WisdomTree Emerging Markets SmallCap Dividend Fund				WisdomTree Middle East Dividend Fund				WisdomTree International Hedged Equity Fund				WisdomTree International Basic Materials Sector Fund
ASSETS:
Investments, at cost		$	478,034,124			$	457,768,999			$	294,636,882			$	11,195,228			$	9,199,921			$	52,775,232
Investment in affiliate, at cost			—				—				2,293,121				—				—				—
Foreign currency, at cost			183,247				850,374				2,286,712				92,285				14,694				7,984
Investments in securities, at value (including securities on loan)1			491,686,544				543,750,484				349,349,430				12,341,688				9,514,318				51,775,059
Investment in affiliate, at value			—				—				2,728,210				—				—				—
Cash			—				37,886				—				—				—				—
Foreign currency, at value			179,266				857,132				2,297,587				92,179				14,809				7,976
Receivables:
Dividends and interest			3,006,394				1,930,518				868,191				96,512				28,638				181,982
Investment securities sold			821,715				2,540,883				1,319,438				—				—				—
Capital shares sold			—				6,802				5,138				—				—				—
Due from affiliate (Note 7)			—				—				—				26,683				—				—
Unrealized appreciation on foreign currency contracts			—				—				1,200				13				64,966				—
Foreign tax reclaims			141,253				—				381				—				269				28,284
Total Assets			495,835,172				549,123,705				356,569,575				12,557,075				9,623,000				51,993,301
LIABILITIES:
Due to custodian			—				—				765,290				—				—				—
Payables:
Collateral for securities on loan (Note 2)			63,580,513				6,134,049				12,303,099				—				—				2,691,022
Investment securities purchased			386,837				—				553,773				—				—				—
Advisory fees (Note 3)			208,250				282,638				176,080				6,960				3,717				25,285
Service fees (Note 2)			1,580				1,974				1,240				2,092				34				192
Other fees			—				—				—				—				774				—
Unrealized depreciation on foreign currency contracts			227				46,147				15,678				—				47,643				—
Distribution			1,787,544				1,669,304				—				32,752				25,814				139,502
Total Liabilities			65,964,951				8,134,112				13,815,160				41,804				77,982				2,856,001
NET ASSETS		$	429,870,221			$	540,989,593			$	342,754,415			$	12,515,271			$	9,545,018			$	49,137,300
NET ASSETS:
Paid-in capital		$	629,918,462			$	499,741,498			$	307,691,649			$	19,561,549			$	9,273,253			$	64,345,151
Undistributed net investment income			2,201,624				1,702,660				1,369,349				75,807				165,529				117,334
Accumulated net realized loss on investments and foreign currency related transactions			(215,885,076	)			(46,489,206	)			(21,468,453	)			(8,285,186	)			(208,267	)			(14,323,902	)
Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			13,635,211				86,034,641				55,161,870				1,163,101				314,503				(1,001,283	)
NET ASSETS		$	429,870,221			$	540,989,593			$	342,754,415			$	12,515,271			$	9,545,018			$	49,137,300
Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)			9,150,000				10,400,000				7,700,000				800,000				200,002				1,700,000
Net asset value per share		$	46.98			$	52.02			$	44.51			$	15.64			$	47.72			$	28.90

1	Market values of securities on loan were as follows: $58,859,877, $5,911,721, $11,443,096, $0, $0 and $2,559,133, respectively (Note 2).

 

See Notes to Financial Statements.

 

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Table of Contents

Statements of Assets and Liabilities (concluded)

WisdomTree International Dividend and Sector Funds

March 31, 2010

  

 

 

		WisdomTree International Energy Sector Fund				WisdomTree International Utilities Sector Fund				WisdomTree International Real Estate Fund
ASSETS:
Investments, at cost		$	52,855,426			$	65,314,188			$	99,655,514
Foreign currency, at cost			72,265				27,641				86,713
Investments in securities, at value (including securities on loan)1			45,648,169				51,910,319				88,747,799
Foreign currency, at value			72,173				28,013				86,686
Receivables:
Dividends and interest			43,866				176,552				369,104
Investment securities sold			—				—				10,101
Foreign tax reclaims			9,537				11,111				45,474
Total Assets			45,773,745				52,125,995				89,259,164
LIABILITIES:
Payables:
Collateral for securities on loan (Note 2)			—				2,697,022				4,427,036
Advisory fees (Note 3)			22,201				24,034				41,211
Service fees (Note 2)			168				182				313
Distribution			182,688				56,741				515,025
Total Liabilities			205,057				2,777,979				4,983,585
NET ASSETS		$	45,568,688			$	49,348,016			$	84,275,579
NET ASSETS:
Paid-in capital		$	59,995,433			$	70,799,176			$	141,595,707
Undistributed (Distributions in excess of) net investment income			14,755				152,662				(4,372,206	)
Accumulated net realized loss on investments and foreign currency related transactions			(7,233,979	)			(8,199,877	)			(42,033,330	)
Net unrealized depreciation on investments and translation of assets and liabilities denominated in foreign currencies			(7,207,521	)			(13,403,945	)			(10,914,592	)
NET ASSETS		$	45,568,688			$	49,348,016			$	84,275,579
Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)			1,850,000				2,300,000				3,150,000
Net asset value per share		$	24.63			$	21.46			$	26.75

1	Market values of securities on loan were as follows: $0, $2,560,708 and $4,143,550, respectively (Note 2).

 

See Notes to Financial Statements.

 

100		WisdomTree International Dividend and Sector Funds

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Table of Contents

Statements of Operations

WisdomTree International Dividend and Sector Funds

For the Year Ended March 31, 2010

  

 

 

		WisdomTree DEFA Fund				WisdomTree DEFA Equity Income Fund				WisdomTree Global Equity Income Fund1				WisdomTree Europe SmallCap Dividend Fund				WisdomTree Japan Total Dividend Fund				WisdomTree World ex-U.S. Growth Fund2				WisdomTree Japan SmallCap Dividend Fund
INVESTMENT INCOME:
Dividends3		$	9,695,975			$	6,176,161			$	1,008,785			$	858,735			$	1,379,793			$	669,528			$	2,424,794
Dividends from affiliate			9,274,697				—				871,653				—				—				56
Interest			2,759				80				—				5				10				—				36
Securities lending income (Note 2)			175,996				166,824				22,061				7,572				6,283				1,642				58,084
Total investment income			19,149,427				6,343,065				1,902,499				866,312				1,386,086				671,226				2,482,914
EXPENSES:
Advisory fees (Note 3)			1,906,153				817,991				192,050				143,484				301,825				124,544				538,931
Service fees (Note 2)			17,473				6,205				1,457				1,088				2,766				945				4,088
Total expenses			1,923,626				824,196				193,507				144,572				304,591				125,489				543,019
Expense waiver/reimbursement (Note 2)			(1,178,246	)			—				(107,067	)			—				—				(709	)			—
Net expenses			745,380				824,196				86,440				144,572				304,591				124,780				543,019
Net investment income			18,404,047				5,518,869				1,816,059				721,740				1,081,495				546,446				1,939,895
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions			(143,525,202	)			(26,660,467	)			(10,562,075	)			(8,124,296	)			(3,299,729	)			(6,374,282	)			(9,144,340	)
Investment transactions from affiliate			61,114				—				(42,012	)			—				—				—				—
In-kind redemptions			2,477,514				4,593,651				—				948,002				4,125,960				38,211				1,165,808
In-kind redemptions from affiliate			51,543,735				—				4,084,584				—				—				—				—
Foreign currency related transactions			249,949				81,496				47,678				10,983				12,264				92,942				(51,651	)
Net realized gain (loss)			(89,192,890	)			(21,985,320	)			(6,471,825	)			(7,165,311	)			838,495				(6,243,129	)			(8,030,183	)
Net change in unrealized appreciation (depreciation) from:
Investment transactions			215,776,912				65,315,690				16,604,907				15,920,871				9,624,389				13,419,951				28,645,563
Translation of assets and liabilities denominated in foreign currencies			11,520				(3,407	)			4,265				572				(5,706	)			4,913				(8,396	)
Net change in unrealized appreciation (depreciation)			215,788,432				65,312,283				16,609,172				15,921,443				9,618,683				13,424,864				28,637,167
Net realized and unrealized gain on investments			126,595,542				43,326,963				10,137,347				8,756,132				10,457,178				7,181,735				20,606,984
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$	144,999,589			$	48,845,832			$	11,953,406			$	9,477,872			$	11,538,673			$	7,728,181			$	22,546,879

1	This information reflects the investment objective and strategy of the WisdomTree Europe Equity Income Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree Global Equity Income Fund thereafter.

 

2	This information reflects the investment objective and strategy of the WisdomTree Japan Equity Income Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree World ex-U.S. Growth Fund thereafter.

 

3	Net of foreign withholding tax of $1,038,037, $610,593, $112,728, $63,984, $103,845, $32,609 and $182,468, respectively.

 

See Notes to Financial Statements.

 

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Table of Contents

Statements of Operations (continued)

WisdomTree International Dividend and Sector Funds

For the Year Ended March 31, 2010

  

 

 

		WisdomTree Pacific ex-Japan Total Dividend Fund				WisdomTree Pacific ex-Japan Equity Income Fund				WisdomTree International LargeCap Dividend Fund				WisdomTree International Dividend ex-Financials  Fund1				WisdomTree International MidCap Dividend Fund				WisdomTree International SmallCap Dividend Fund				WisdomTree Emerging Markets Equity Income Fund
INVESTMENT INCOME:
Dividends2		$	3,854,394			$	3,967,319			$	4,646,397			$	6,159,818			$	4,133,178			$	12,587,427			$	13,925,727
Interest			31				131				—				55				98				—				96
Securities lending income (Note 2)			7,990				24,188				104,164				101,392				85,455				235,542				3,985
Total investment income			3,862,415				3,991,638				4,750,561				6,261,265				4,218,731				12,822,969				13,929,808
EXPENSES:
Advisory fees (Note 3)			515,347				478,866				566,262				827,192				706,723				2,151,998				2,252,886
Service fees (Note 2)			4,724				3,633				5,191				6,276				5,361				16,325				15,735
Total expenses			520,071				482,499				571,453				833,468				712,084				2,168,323				2,268,621
Net investment income			3,342,344				3,509,139				4,179,108				5,427,797				3,506,647				10,654,646				11,661,187
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions			(8,986,019	)			(6,359,796	)			(14,067,917	)			(63,033,741	)			(27,495,339	)			(92,114,506	)			(26,806,256	)
In-kind redemptions			13,604,206				8,284,574				2,448,233				60,386				(3,441,944	)			6,230,830				1,867,987
Foreign currency related transactions			79,234				66,995				29,314				78,060				77,574				95,389				262,328
Net realized gain (loss)			4,697,421				1,991,773				(11,590,370	)			(62,895,295	)			(30,859,709	)			(85,788,287	)			(24,675,941	)
Net change in unrealized appreciation (depreciation) from:
Investment transactions			34,500,518				26,164,496				43,896,313				111,482,124				75,762,619				240,537,038				171,201,712
Translation of assets and liabilities denominated in foreign currencies			(13,258	)			(2,159	)			(1,480	)			24,337				(4,133	)			(18,195	)			39,302
Net change in unrealized appreciation (depreciation)			34,487,260				26,162,337				43,894,833				111,506,461				75,758,486				240,518,843				171,241,014
Net realized and unrealized gain on investments			39,184,681				28,154,110				32,304,463				48,611,166				44,898,777				154,730,556				146,565,073
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$	42,527,025			$	31,663,249			$	36,483,571			$	54,038,963			$	48,405,424			$	165,385,202			$	158,226,260

1	This information reflects the investment objective and strategy of the WisdomTree International Dividend Top 100 Fund through May 8, 2009 and the investment objective and strategy of the WisdomTree International Dividend ex-Financials Fund thereafter.

 

2	Net of foreign withholding tax of $66,385, $69,695, $455,107, $629,371, $404,995, $893,132 and $1,757,719, respectively.

 

See Notes to Financial Statements.

 

102		WisdomTree International Dividend and Sector Funds

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Table of Contents

Statements of Operations (concluded)

WisdomTree International Dividend and Sector Funds

For the Year Ended March 31, 2010

  

 

 

		WisdomTree Emerging Markets SmallCap Dividend Fund				WisdomTree Middle East Dividend Fund				WisdomTree International Hedged Equity Fund				WisdomTree International Basic Materials Sector Fund				WisdomTree International Energy Sector Fund				WisdomTree International Utilities Sector Fund				WisdomTree International Real Estate Fund
INVESTMENT INCOME:
Dividends1		$	6,201,098			$	451,191			$	45,910			$	968,747			$	1,411,763			$	1,659,553			$	3,040,576
Dividends from affiliate			3,771
Interest			—				88				—				—				16				25				28
Net securities lending income (Note 2)			17,147				—				—				42,218				35,735				84,435				19,297
Total investment income			6,222,016				451,279				45,910				1,010,965				1,447,514				1,744,013				3,059,901
EXPENSES:
Advisory fees (Note 3)			1,216,575				68,024				7,339				235,173				212,920				212,676				408,884
Service fees (Note 2)			8,497				—				67				1,784				1,615				1,613				3,102
Custody/accounting			—				11,266				—				—				—				—				—
Printing			—				1,354				—				—				—				—				—
Professional fees			—				36,202				—				—				—				—				—
IOPV Fees2			—				715				—				—				—				—				—
Insurance			—				4,187				—				—				—				—				—
Directors			—				6,951				—				—				—				—				—
Other			—				1,580				1,529				—				—				—				—
Total expenses			1,225,072				130,279				8,935				236,957				214,535				214,289				411,986
Expenses waiver/reimbursement (Note 2)			(7,705	)			(41,869	)			(1,799	)			—				—				—				—
Net expenses			1,217,367				88,410				7,136				236,957				214,535				214,289				411,986
Net investment income			5,004,649				362,869				38,774				774,008				1,232,979				1,529,724				2,647,915
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) from:
Investment transactions			(9,032,787	)			(5,248,461	)			(1,132	)			(5,301,695	)			(3,494,869	)			(4,924,801	)			(24,244,089	)
Investment from affiliate			—				—				(207,135	)			—				—				—				—
In-kind redemptions			2,029,121				—				—				1,369,234				186,152				(3,612,270	)			(4,943,410	)
Foreign currency related transactions			(137,654	)			(46,068	)			152,569				13,428				11,751				9,129				30,863
Net realized loss			(7,141,320	)			(5,294,529	)			(55,698	)			(3,919,033	)			(3,296,966	)			(8,527,942	)			(29,156,636	)
Net change in unrealized appreciation (depreciation) from:
Investment transactions			81,765,537				7,718,940				314,397				23,822,038				10,499,468				12,796,691				55,857,321
Translation of assets and liabilities denominated in foreign currencies			13,152				12,361				106				168				(1,244	)			1,251				(2,863	)
Net change in unrealized appreciation (depreciation)			81,778,689				7,731,301				314,503				23,822,206				10,498,224				12,797,942				55,854,458
Net realized and unrealized gain on investments			74,637,369				2,436,772				258,805				19,903,173				7,201,258				4,270,000				26,697,822
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$	79,642,018			$	2,799,641			$	297,579			$	20,677,181			$	8,434,237			$	5,799,724			$	29,345,737

1	Net of foreign withholding tax of $961,742, $10,675, $4,669, $95,905, $150,942, $222,590 and $265,079, respectively.

 

2	IOPV – Indicative Optimized Portfolio Value – is the real time estimation of net asset value of Fund.

 

See Notes to Financial Statements.

 

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Table of Contents

Statements of Changes in Net Assets

WisdomTree International Dividend and Sector Funds

  

 

 

		WisdomTree DEFA Fund								WisdomTree DEFA Equity Income Fund								WisdomTree Global Equity Income Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 20101				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	18,404,047			$	15,464,077			$	5,518,869			$	8,663,791			$	1,816,059			$	1,749,282
Net realized loss on investments and foreign currency related transactions			(89,192,890	)			(74,997,792	)			(21,985,320	)			(45,078,074	)			(6,471,825	)			(11,691,791	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			215,788,432				(184,596,085	)			65,312,283				(61,460,788	)			16,609,172				(12,399,286	)
Net increase (decrease) in net assets resulting from operations			144,999,589				(244,129,800	)			48,845,832				(97,875,071	)			11,953,406				(22,341,795	)
DIVIDENDS:
Net investment income			(19,292,972	)			(16,276,475	)			(5,586,535	)			(9,694,798	)			(1,835,881	)			(1,903,608	)
Total dividends			(19,292,972	)			(16,276,475	)			(5,586,535	)			(9,694,798	)			(1,835,881	)			(1,903,608	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			448,192,327				161,237,933				37,579,579				43,349,186				53,291,535				11,191,402
Cost of shares redeemed			(440,378,667	)			(23,832,508	)			(26,664,294	)			(88,064,007	)			(39,154,020	)			(15,281,113	)
Net increase (decrease) in net assets resulting from capital share transactions			7,813,660				137,405,425				10,915,285				(44,714,821	)			14,137,515				(4,089,711	)
Net Increase (Decrease) in Net Assets			133,520,277				(123,000,850	)			54,174,582				(152,284,690	)			24,255,040				(28,335,114	)
NET ASSETS:
Beginning of year		$	302,385,327			$	425,386,177			$	88,122,916			$	240,407,606			$	18,786,745			$	47,121,859
End of year		$	435,905,604			$	302,385,327			$	142,297,498			$	88,122,916			$	43,041,785			$	18,786,745
Undistributed net investment income included in net assets at end of year		$	1,129,494			$	1,453,194			$	260,617			$	129,136			$	62,883			$	29,123
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			9,450,000				6,750,000				3,100,000				4,000,000				700,000				800,000
Shares created			9,950,000				3,150,000				950,000				900,000				1,350,000				200,000
Shares redeemed			(9,950,000	)			(450,000	)			(650,000	)			(1,800,000	)			(1,000,000	)			(300,000	)
Shares outstanding, end of year			9,450,000				9,450,000				3,400,000				3,100,000				1,050,000				700,000

1	This information reflects the investment objective and strategy of the WisdomTree Europe Equity Income Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree Global Equity Income Fund thereafter.

 

See Notes to Financial Statements.

 

104		WisdomTree International Dividend and Sector Funds

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Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree International Dividend and Sector Funds

  

 

 

		WisdomTree Europe SmallCap Dividend Fund								WisdomTree Japan Total Dividend Fund								WisdomTree World ex- U.S. Growth Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 20101				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	721,740			$	1,727,740			$	1,081,495			$	396,753			$	546,446			$	487,648
Net realized gain (loss) on investments and foreign currency related transactions			(7,165,311	)			(15,159,973	)			838,495				(4,312,780	)			(6,243,129	)			(7,972,305	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			15,921,443				(8,989,483	)			9,618,683				(8,038,239	)			13,424,864				(2,209,540	)
Net increase (decrease) in net assets resulting from operations			9,477,872				(22,421,716	)			11,538,673				(11,954,266	)			7,728,181				(9,694,197	)
DIVIDENDS:
Net investment income			(776,003	)			(1,802,430	)			(934,315	)			(559,727	)			(859,811	)			(623,658	)
Total dividends			(776,003	)			(1,802,430	)			(934,315	)			(559,727	)			(859,811	)			(623,658	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			11,402,548				5,396,168				101,037,653				23,587,836				4,767,425				34,446,745
Cost of shares redeemed			(3,476,359	)			(14,483,079	)			(76,103,751	)			(20,865,377	)			(8,075,928	)			(32,637,287	)
Net increase (decrease) in net assets resulting from capital share transactions			7,926,189				(9,086,911	)			24,933,902				2,722,459				(3,308,503	)			1,809,458
Net Increase (Decrease) in Net Assets			16,628,058				(33,311,057	)			35,538,260				(9,791,534	)			3,559,867				(8,508,397	)
NET ASSETS:
Beginning of year		$	13,466,606			$	46,777,663			$	19,212,453			$	29,003,987			$	21,245,322			$	29,753,719
End of year		$	30,094,664			$	13,466,606			$	54,750,713			$	19,212,453			$	24,805,189			$	21,245,322
Undistributed net investment income included in net assets at end of year		$	82,669			$	85,533			$	423,472			$	202,032			$	36,952			$	238,931
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			600,000				800,000				600,000				600,000				600,000				600,000
Shares created			300,000				100,000				2,600,000				600,000				100,000				800,000
Shares redeemed			(100,000	)			(300,000	)			(1,900,000	)			(600,000	)			(200,000	)			(800,000	)
Shares outstanding, end of year			800,000				600,000				1,300,000				600,000				500,000				600,000

1	This information reflects the investment objective and strategy of the WisdomTree Japan Equity Income Fund Through June 19, 2009 and the investment objective and strategy of the WisdomTree World ex-U.S. Growth Fund thereafter.

 

See Notes to Financial Statements.

 

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Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree International Dividend and Sector Funds

  

 

 

		WisdomTree Japan SmallCap Dividend Fund								WisdomTree Pacific ex- Japan Total Dividend Fund								WisdomTree Pacific ex- Japan Equity Income Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	1,939,895			$	1,289,490			$	3,342,344			$	4,088,227			$	3,509,139			$	2,557,366
Net realized gain (loss) on investments and foreign currency related transactions			(8,030,183	)			(3,088,286	)			4,697,421				(19,224,355	)			1,991,773				(13,129,775	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			28,637,167				(20,694,507	)			34,487,260				(25,679,971	)			26,162,337				(14,757,865	)
Net increase (decrease) in net assets resulting from operations			22,546,879				(22,493,303	)			42,527,025				(40,816,099	)			31,663,249				(25,330,274	)
DIVIDENDS:
Net investment income			(1,520,747	)			(1,401,224	)			(3,574,407	)			(5,131,577	)			(3,645,372	)			(3,396,394	)
Total dividends			(1,520,747	)			(1,401,224	)			(3,574,407	)			(5,131,577	)			(3,645,372	)			(3,396,394	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			89,835,686				89,524,062				79,698,811				11,716,010				132,484,504				19,158,117
Cost of shares redeemed			(19,090,019	)			(74,851,551	)			(66,704,221	)			(74,690,124	)			(64,722,763	)			(25,838,928	)
Net increase (decrease) in net assets resulting from capital share transactions			70,745,667				14,672,511				12,994,590				(62,974,114	)			67,761,741				(6,680,811	)
Net Increase (Decrease) in Net Assets			91,771,799				(9,222,016	)			51,947,208				(108,921,790	)			95,779,618				(35,407,479	)
NET ASSETS:
Beginning of year		$	66,078,112			$	75,300,128			$	37,086,090			$	146,007,880			$	21,558,988			$	56,966,467
End of year		$	157,849,911			$	66,078,112			$	89,033,298			$	37,086,090			$	117,338,606			$	21,558,988
Undistributed net investment income included in net assets at end of year		$	1,271,266			$	779,958			$	50,779			$	166,898			$	118,893			$	181,506
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			2,100,000				1,700,000				1,000,000				2,000,000				700,000				900,000
Shares created			2,200,000				2,400,000				1,600,000				200,000				2,850,000				300,000
Shares redeemed			(500,000	)			(2,000,000	)			(1,150,000	)			(1,200,000	)			(1,500,000	)			(500,000	)
Shares outstanding, end of year			3,800,000				2,100,000				1,450,000				1,000,000				2,050,000				700,000

 

See Notes to Financial Statements.

 

106		WisdomTree International Dividend and Sector Funds

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Table of Contents

Statements of Changes in Net Assets (continued)

WisdomTree International Dividend and Sector Funds

  

 

 

		WisdomTree International LargeCap Dividend Fund								WisdomTree International Dividend ex-Financials Fund								WisdomTree International MidCap Dividend Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 20101				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	4,179,108			$	5,162,514			$	5,427,797			$	14,443,615			$	3,506,647			$	5,930,107
Net realized loss on investments and foreign currency related transactions			(11,590,370	)			(22,204,870	)			(62,895,295	)			(88,685,093	)			(30,859,709	)			(46,740,889	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			43,894,833				(52,812,028	)			111,506,461				(81,123,650	)			75,758,486				(59,916,972	)
Net increase (decrease) in net assets resulting from operations			36,483,571				(69,854,384	)			54,038,963				(155,365,128	)			48,405,424				(100,727,754	)
DIVIDENDS:
Net investment income			(4,322,343	)			(5,333,253	)			(5,343,066	)			(16,564,667	)			(3,633,344	)			(6,683,004	)
Total dividends			(4,322,343	)			(5,333,253	)			(5,343,066	)			(16,564,667	)			(3,633,344	)			(6,683,004	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			51,077,680				22,669,776				31,436,210				67,590,960				24,227,874				40,945,171
Cost of shares redeemed			(12,543,062	)			(23,212,075	)			(21,099,564	)			(180,841,245	)			(11,264,602	)			(64,304,797	)
Net increase (decrease) in net assets resulting from capital share transactions			38,534,618				(542,299	)			10,336,646				(113,250,285	)			12,963,272				(23,359,626	)
Net Increase (Decrease) in Net Assets			70,695,846				(75,729,936	)			59,032,543				(285,180,080	)			57,735,352				(130,770,384	)
NET ASSETS:
Beginning of year		$	78,928,444			$	154,658,380			$	105,304,989			$	390,485,069			$	88,333,590			$	219,103,974
End of year		$	149,624,290			$	78,928,444			$	164,337,532			$	105,304,989			$	146,068,942			$	88,333,590
Undistributed net investment income included in net assets at end of year		$	318,572			$	431,313			$	271,354			$	108,563			$	579,567			$	389,124
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			2,500,000				2,500,000				3,700,000				6,100,000				2,800,000				3,500,000
Shares created			1,100,000				500,000				750,000				1,100,000				500,000				700,000
Shares redeemed			(300,000	)			(500,000	)			(600,000	)			(3,500,000	)			(300,000	)			(1,400,000	)
Shares outstanding, end of year			3,300,000				2,500,000				3,850,000				3,700,000				3,000,000				2,800,000

1	This information reflects the investment objective and strategy of the WisdomTree International Dividend Top 100 Fund through May 8, 2009 and the investment objective and strategy of the WisdomTree International Dividend ex-Financials Fund thereafter.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		107

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Statements of Changes in Net Assets (continued)

WisdomTree International Dividend and Sector Funds

  

 

 

		WisdomTree International SmallCap Dividend Fund								WisdomTree Emerging Markets Equity Income Fund								WisdomTree Emerging Markets SmallCap Dividend Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	10,654,646			$	15,980,484			$	11,661,187			$	9,330,409			$	5,004,649			$	2,759,319
Net realized loss on investments and foreign currency related transactions			(85,788,287	)			(112,005,258	)			(24,675,941	)			(18,274,116	)			(7,141,320	)			(10,501,006	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			240,518,843				(157,302,313	)			171,241,014				(83,998,031	)			81,778,689				(23,540,489	)
Net increase (decrease) in net assets resulting from operations			165,385,202				(253,327,087	)			158,226,260				(92,941,738	)			79,642,018				(31,282,176	)
DIVIDENDS:
Net investment income			(10,659,948	)			(17,493,804	)			(11,953,872	)			(9,437,988	)			(5,378,463	)			(2,648,831	)
Total dividends			(10,659,948	)			(17,493,804	)			(11,953,872	)			(9,437,988	)			(5,378,463	)			(2,648,831	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			53,490,158				97,916,304				236,686,308				137,978,782				239,409,467				44,020,889
Cost of shares redeemed			(22,651,964	)			(65,549,182	)			(19,323,942	)			(24,057,509	)			(22,624,786	)			(11,125,217	)
Net increase in net assets resulting from capital share transactions			30,838,194				32,367,122				217,362,366				113,921,273				216,784,681				32,895,672
Net Increase (Decrease) in Net Assets			185,563,448				(238,453,769	)			363,634,754				11,541,547				291,048,236				(1,035,335	)
NET ASSETS:
Beginning of year		$	244,306,773			$	482,760,542			$	177,354,839			$	165,813,292			$	51,706,179			$	52,741,514
End of year		$	429,870,221			$	244,306,773			$	540,989,593			$	177,354,839			$	342,754,415			$	51,706,179
Undistributed net investment income included in net assets at end of year		$	2,201,624			$	1,642,627			$	1,702,660			$	786,207			$	1,369,349			$	151,662
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			8,400,000				7,900,000				5,700,000				3,200,002				2,100,000				1,200,002
Shares created			1,250,000				1,800,000				5,200,000				3,000,000				6,300,000				1,300,000
Shares redeemed			(500,000	)			(1,300,000	)			(500,000	)			(500,002	)			(700,000	)			(400,002	)
Shares outstanding, end of year			9,150,000				8,400,000				10,400,000				5,700,000				7,700,000				2,100,000

 

See Notes to Financial Statements.

 

108		WisdomTree International Dividend and Sector Funds

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Statements of Changes in Net Assets (continued)

WisdomTree International Dividend and Sector Funds

  

 

 

		WisdomTree Middle East Dividend Fund								WisdomTree International Hedged Equity Fund				WisdomTree International Basic Materials Sector Fund
		For the Year Ended March 31, 2010				For the Period July 16, 2008* through March 31, 2009				For the Period December 31, 2009* through March 31, 2010				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	362,869			$	235,712			$	38,774			$	774,008			$	1,338,674
Net realized loss on investments and foreign currency related transactions			(5,294,529	)			(3,081,850	)			(55,698	)			(3,919,033	)			(17,313,365	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			7,731,301				(6,568,200	)			314,503				23,822,206				(23,070,470	)
Net increase (decrease) in net assets resulting from operations			2,799,641				(9,414,338	)			297,579				20,677,181				(39,045,161	)
DIVIDENDS:
Net investment income			(431,581	)			—				(25,814	)			(670,355	)			(2,053,360	)
Total dividends			(431,581	)			—				(25,814	)			(670,355	)			(2,053,360	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			7,047,766				20,350,628				9,273,253				10,926,459				7,868,329
Cost of shares redeemed			(4,179,148	)			(3,657,697	)			—				(4,255,513	)			(37,817,240	)
Net increase (decrease) in net assets resulting from capital share transactions			2,868,618				16,692,931				9,273,253				6,670,946				(29,948,911	)
Net Increase (Decrease) in Net Assets			5,236,678				7,278,593				9,545,018				26,677,772				(71,047,432	)
NET ASSETS:
Beginning of period		$	7,278,593			$	—			$	—			$	22,459,528			$	93,506,960
End of period		$	12,515,271			$	7,278,593			$	9,545,018			$	49,137,300			$	22,459,528
Undistributed (Distributions in excess of) net investment income included in net assets at end of period		$	75,807			$	187,348			$	165,529			$	117,334			$	(6,523	)
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of period			600,004				—				—				1,400,000				2,600,000
Shares created			500,000				900,004				200,002				450,000				200,000
Shares redeemed			(300,004	)			(300,000	)			—				(150,000	)			(1,400,000	)
Shares outstanding, end of period			800,000				600,004				200,002				1,700,000				1,400,000

*	Commencement of investment operations.

 

See Notes to Financial Statements.

 

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Statements of Changes in Net Assets (concluded)

WisdomTree International Dividend and Sector Funds

  

 

 

		WisdomTree International Energy Sector Fund								WisdomTree International Utilities Sector Fund								WisdomTree International Real Estate Fund
		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2010				For the Year Ended March 31, 2009
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income		$	1,232,979			$	1,593,494			$	1,529,724			$	2,551,271			$	2,647,915			$	3,889,118
Net realized loss on investments and foreign currency related transactions			(3,296,966	)			(6,188,971	)			(8,527,942	)			(7,412,736	)			(29,156,636	)			(27,840,200	)
Net change in unrealized appreciation (depreciation) on investments and translation of assets and liabilities denominated in foreign currencies			10,498,224				(17,878,242	)			12,797,942				(22,651,867	)			55,854,458				(50,145,090	)
Net increase (decrease) in net assets resulting from operations			8,434,237				(22,473,719	)			5,799,724				(27,513,332	)			29,345,737				(74,096,172	)
DIVIDENDS:
Net investment income			(1,249,410	)			(1,852,260	)			(1,445,458	)			(2,592,420	)			(7,422,149	)			(2,071,270	)
Total dividends			(1,249,410	)			(1,852,260	)			(1,445,458	)			(2,592,420	)			(7,422,149	)			(2,071,270	)
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			17,214,761				23,273,271				23,269,335				12,930,102				27,636,033				27,103,803
Cost of shares redeemed			(1,163,114	)			(34,176,584	)			(6,730,720	)			(32,930,600	)			(5,903,444	)			(23,279,174	)
Net increase (decrease) in net assets resulting from capital share transactions			16,051,647				(10,903,313	)			16,538,615				(20,000,498	)			21,732,589				3,824,629
Net Increase (Decrease) in Net Assets			23,236,474				(35,229,292	)			20,892,881				(50,106,250	)			43,656,177				(72,342,813	)
NET ASSETS:
Beginning of year		$	22,332,214			$	57,561,506			$	28,455,135			$	78,561,385			$	40,619,402			$	112,962,215
End of year		$	45,568,688			$	22,332,214			$	49,348,016			$	28,455,135			$	84,275,579			$	40,619,402
Undistributed (Distributions in excess of) net investment income included in net assets at end of year		$	14,755			$	17,351			$	152,662			$	59,267			$	(4,372,206	)		$	220,428
SHARES CREATED AND REDEEMED:
Shares outstanding, beginning of year			1,200,000				1,800,000				1,600,000				2,400,000				2,400,000				2,700,002
Shares created			700,000				600,000				1,050,000				400,000				1,050,000				700,000
Shares redeemed			(50,000	)			(1,200,000	)			(350,000	)			(1,200,000	)			(300,000	)			(1,000,002	)
Shares outstanding, end of year			1,850,000				1,200,000				2,300,000				1,600,000				3,150,000				2,400,000

 

See Notes to Financial Statements.

 

110		WisdomTree International Dividend and Sector Funds

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Financial Highlights

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree DEFA Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	32.00			$	63.02			$	64.15			$	49.94
Investment operations:
Net investment income1			2.00				1.89				1.70				0.86
Net realized and unrealized gain (loss)			14.24				(31.04	)			(1.92	)			13.58
Total from investment operations			16.24				(29.15	)			(0.22	)			14.44
Dividends and distributions to shareholders:
Net investment income			(2.11	)			(1.87	)			(0.91	)			(0.21	)
Capital gains			—				—				(0.00	)2			(0.02	)
Total dividends and distributions to shareholders			(2.11	)			(1.87	)			(0.91	)			(0.23	)
Net asset value, end of period		$	46.13			$	32.00			$	63.02			$	64.15
TOTAL RETURN3			51.43	%			(46.61	)%			(0.44	)%			28.94	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	435,906			$	302,385			$	425,386			$	128,303
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.19	%**			0.48	%			0.48	%			0.48	%4
Expenses, prior to expense reimbursements/waivers			0.48	%			0.48	%			0.48	%			0.51	%4
Net investment income			4.63	%			4.01	%			2.54	%			1.97	%4
Portfolio turnover rate5			97	%			30	%			10	%			11	%

*	Commencement of investment operations.

 

**	Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the underlying funds that were paid indirectly by the Fund during the period when the Fund operated as a “fund of funds.”

 

1	Based on average shares outstanding.

 

2	Amount represents less than $0.005.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

4	Annualized.

 

5	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree DEFA Equity Income Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	28.43			$	60.10			$	63.62			$	49.77
Investment operations:
Net investment income1			1.56				2.45				2.20				1.19
Net realized and unrealized gain (loss)			13.44				(31.09	)			(3.78	)			12.94
Total from investment operations			15.00				(28.64	)			(1.58	)			14.13
Dividends to shareholders:
Net investment income			(1.58	)			(3.03	)			(1.94	)			(0.28	)
Total dividends to shareholders			(1.58	)			(3.03	)			(1.94	)			(0.28	)
Net asset value, end of period		$	41.85			$	28.43			$	60.10			$	63.62
TOTAL RETURN2			53.57	%			(48.27	)%			(2.72	)%			28.41	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	142,297			$	88,123			$	240,408			$	184,498
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.58	%3
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.61	%3
Net investment income			3.91	%			5.27	%			3.32	%			2.71	%3
Portfolio turnover rate4			36	%			40	%			16	%			19	%

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

112		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Global Equity Income Fund		For the Year Ended March 31,  20101				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	26.84			$	58.90			$	63.15			$	49.83
Investment operations:
Net investment income2			2.07				2.32				2.16				1.09
Net realized and unrealized gain (loss)			14.28				(31.66	)			(4.38	)			12.55
Total from investment operations			16.35				(29.34	)			(2.22	)			13.64
Dividends and distributions to shareholders:
Net investment income			(2.20	)			(2.72	)			(2.03	)			(0.32	)
Capital gains			—				—				(0.00	)3			—
Total dividends and distributions to shareholders			(2.20	)			(2.72	)			(2.03	)			(0.32	)
Net asset value, end of period		$	40.99			$	26.84			$	58.90			$	63.15
TOTAL RETURN4			62.13	%			(50.56	)%			(3.76	)%			27.39	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	43,042			$	18,787			$	47,122			$	50,520
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.26	%**			0.58	%			0.58	%			0.58	%5
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.65	%5
Net investment income			5.49	%			5.16	%			3.32	%			2.44	%5
Portfolio turnover rate6			94	%			47	%			21	%			24	%

*	Commencement of investment operations.

 

**	Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the underlying funds that were paid indirectly by the Fund during the period when the Fund operated as a “fund of funds.”

 

1	This information reflects the investment objective and strategy of the WisdomTree Europe Equity Income Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree Global Equity Income Fund thereafter.

 

2	Based on average shares outstanding.

 

3	Amount represents less than $0.005.

 

4

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

5	Annualized.

 

6	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Europe SmallCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	22.44			$	58.47			$	70.15			$	50.42
Investment operations:
Net investment income1			0.99				2.50				2.32				1.31
Net realized and unrealized gain (loss)			15.37				(35.53	)			(9.78	)			18.89
Total from investment operations			16.36				(33.03	)			(7.46	)			20.20
Dividends to shareholders:
Net investment income			(1.18	)			(3.00	)			(4.22	)			(0.47	)
Total dividends to shareholders			(1.18	)			(3.00	)			(4.22	)			(0.47	)
Net asset value, end of period		$	37.62			$	22.44			$	58.47			$	70.15
TOTAL RETURN2			74.18	%			(56.75	)%			(10.72	)%			40.14	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	30,095			$	13,467			$	46,778			$	147,316
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.58	%3
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.62	%3
Net investment income			2.92	%			6.03	%			3.33	%			2.99	%3
Portfolio turnover rate4			55	%			63	%			22	%			47	%

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

114		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Japan Total Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	32.02			$	48.34			$	57.00			$	50.32
Investment operations:
Net investment income1			0.73				0.57				0.64				0.56
Net realized and unrealized gain (loss)			9.89				(16.09	)			(8.82	)			6.33
Total from investment operations			10.62				(15.52	)			(8.18	)			6.89
Dividends to shareholders:
Net investment income			(0.52	)			(0.80	)			(0.48	)			(0.21	)
Total dividends to shareholders			(0.52	)			(0.80	)			(0.48	)			(0.21	)
Net asset value, end of period		$	42.12			$	32.02			$	48.34			$	57.00
TOTAL RETURN2			33.33	%			(32.36	)%			(14.39	)%			13.71	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	54,751			$	19,212			$	29,004			$	51,301
Ratios to average net assets of:
Expenses, net of expense reimbursements			0.48	%			0.48	%			0.48	%			0.48	%3
Expenses, prior to expense reimbursements			0.48	%			0.48	%			0.48	%			0.54	%3
Net investment income			1.72	%			1.38	%			1.17	%			1.40	%3
Portfolio turnover rate4			13	%			11	%			1	%			6	%

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree World ex-U.S. Growth Fund		For the Year Ended March 31,  20101				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	35.41			$	49.59			$	59.42			$	50.14
Investment operations:
Net investment income2			1.11				0.75				0.65				1.18
Net realized and unrealized gain (loss)			14.94				(13.89	)			(9.50	)			8.44
Total from investment operations			16.05				(13.14	)			(8.85	)			9.62
Dividends to shareholders:
Net investment income			(1.85	)			(1.04	)			(0.98	)			(0.34	)
Total dividends to shareholders			(1.85	)			(1.04	)			(0.98	)			(0.34	)
Net asset value, end of period		$	49.61			$	35.41			$	49.59			$	59.42
TOTAL RETURN3			46.04	%			(26.84	)%			(14.96	)%			19.22	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	24,805			$	21,245			$	29,754			$	95,069
Ratios to average net assets of:
Expenses, net of expense reimbursements			0.58	%6			0.58	%			0.58	%			0.58	%4
Expenses, prior to expense reimbursements			0.58	%			0.58	%			0.58	%			0.64	%4
Net investment income			2.54	%			1.70	%			1.18	%			3.00	%4
Portfolio turnover rate5			121	%			47	%			1	%			6	%

*	Commencement of investment operations.

 

1	This information reflects the investment objective and strategy of the WisdomTree Japan Equity Income Fund through June 19, 2009 and the investment objective and strategy of the WisdomTree World ex-U.S. Growth Fund thereafter.

 

2	Based on average shares outstanding.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

4	Annualized.

 

5	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

6	Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the India Earnings Fund that are paid indirectly by the Fund. The Fund invests a portion of its assests in the WisdomTree India Earnings Fund in order to achieve exposure to securities in India.

 

See Notes to Financial Statements.

 

116		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Japan SmallCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	31.47			$	44.29			$	52.33			$	50.69
Investment operations:
Net investment income1			0.79				0.64				0.69				0.95
Net realized and unrealized gain (loss)			9.96				(12.97	)			(8.12	)			0.74
Total from investment operations			10.75				(12.33	)			(7.43	)			1.69
Dividends to shareholders:
Net investment income			(0.68	)			(0.49	)			(0.61	)			(0.05	)
Total dividends to shareholders			(0.68	)			(0.49	)			(0.61	)			(0.05	)
Net asset value, end of period		$	41.54			$	31.47			$	44.29			$	52.33
TOTAL RETURN2			34.37	%			(27.98	)%			(14.23	)%			3.34	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	157,850			$	66,078			$	75,300			$	99,419
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.58	%3
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.64	%3
Net investment income			2.09	%			1.68	%			1.44	%			2.75	%3
Portfolio turnover rate4			45	%			16	%			3	%			25	%

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		117

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Pacific ex-Japan Total Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	37.09			$	73.00			$	67.57			$	49.71
Investment operations:
Net investment income1			1.79				2.86				2.69				1.40
Net realized and unrealized gain (loss)			24.23				(34.08	)			4.61				16.85
Total from investment operations			26.02				(31.22	)			7.30				18.25
Dividends to shareholders:
Net investment income			(1.71	)			(4.69	)			(1.87	)			(0.39	)
Total dividends to shareholders			(1.71	)			(4.69	)			(1.87	)			(0.39	)
Net asset value, end of period		$	61.40			$	37.09			$	73.00			$	67.57
TOTAL RETURN2			70.97	%			(42.77	)%			(10.58	)%			36.80	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	89,033			$	37,086			$	146,008			$	74,329
Ratios to average net assets of:
Expenses, net of expense reimbursements			0.48	%			0.48	%			0.48	%			0.48	%3
Expenses, prior to expense reimbursements			0.48	%			0.48	%			0.48	%			0.54	%3
Net investment income			3.11	%			4.76	%			3.42	%			3.31	%3
Portfolio turnover rate4			18	%			31	%			12	%			21	%

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

118		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Pacific ex-Japan Equity Income Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	30.80			$	63.30			$	67.08			$	49.02
Investment operations:
Net investment income1			2.23				3.00				3.24				2.18
Net realized and unrealized gain (loss)			26.27				(31.22	)			(3.40	)			16.40
Total from investment operations			28.50				(28.22	)			(0.16	)			18.58
Dividends and distributions to shareholders:
Net investment income			(2.06	)			(4.28	)			(3.48	)			(0.52	)
Capital gains			—				—				(0.14	)			—
Total dividends and distributions to shareholders			(2.06	)			(4.28	)			(3.62	)			(0.52	)
Net asset value, end of period		$	57.24			$	30.80			$	63.30			$	67.08
TOTAL RETURN2			93.79	%			(44.42	)%			(0.69	)%			38.02	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	117,339			$	21,559			$	56,966			$	87,205
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.58	%3
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.63	%3
Net investment income			4.25	%			6.25	%			4.42	%			5.11	%3
Portfolio turnover rate4			25	%			55	%			16	%			7	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		119

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International LargeCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	31.57			$	61.86			$	62.55			$	49.86
Investment operations:
Net investment income1			1.50				2.11				1.80				0.85
Net realized and unrealized gain (loss)			13.91				(29.98	)			(1.11	)			12.14
Total from investment operations			15.41				(27.87	)			0.69				12.99
Dividends to shareholders:
Net investment income			(1.64	)			(2.42	)			(1.38	)			(0.30	)
Total dividends to shareholders			(1.64	)			(2.42	)			(1.38	)			(0.30	)
Net asset value, end of period		$	45.34			$	31.57			$	61.86			$	62.55
TOTAL RETURN2			49.56	%			(45.57	)%			0.93	%			26.08	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	149,624			$	78,928			$	154,658			$	87,569
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.48	%			0.48	%			0.48	%			0.48	%3
Expenses, prior to expense reimbursements/waivers			0.48	%			0.48	%			0.48	%			0.52	%3
Net investment income			3.54	%			4.38	%			2.69	%			1.99	%3
Portfolio turnover rate4			26	%			30	%			15	%			8	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

120		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Dividend ex-Financials Fund		For the Year Ended March 31, 20101				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	28.46			$	64.01			$	66.37			$	49.77
Investment operations:
Net investment income2			1.50				2.93				2.29				1.03
Net realized and unrealized gain (loss)			14.24				(34.43	)			(2.86	)			15.80
Total from investment operations			15.74				(31.50	)			(0.57	)			16.83
Dividends and distributions to shareholders:
Net investment income			(1.51	)			(4.05	)			(1.79	)			(0.22	)
Capital gains			—				—				—				(0.01	)
Total dividends and distributions to shareholders			(1.51	)			(4.05	)			(1.79	)			(0.23	)
Net asset value, end of period		$	42.69			$	28.46			$	64.01			$	66.37
TOTAL RETURN3			56.27	%			(49.95	)%			1.05	%			33.83	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	164,338			$	105,305			$	390,485			$	278,743
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.58	%4
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.60	%4
Net investment income			3.81	%			5.90	%			3.28	%			2.30	%4
Portfolio turnover rate5			69	%			55	%			24	%			8	%

 

*	Commencement of investment operations.

 

1	This information reflects the investment objective and strategy of the WisdomTree International Dividend Top 100 Fund through May 8, 2009 and the investment objective and strategy of the WisdomTree International Dividend ex-Financials Fund thereafter.

 

2	Based on average shares outstanding.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

4	Annualized.

 

5	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		121

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International MidCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	31.55			$	62.60			$	67.56			$	50.13
Investment operations:
Net investment income1			1.26				1.82				1.92				1.08
Net realized and unrealized gain (loss)			17.27				(30.64	)			(4.95	)			16.73
Total from investment operations			18.53				(28.82	)			(3.03	)			17.81
Dividends and distributions to shareholders:
Net investment income			(1.39	)			(2.23	)			(1.81	)			(0.38	)
Capital gains			—				—				(0.12	)			—
Total dividends and distributions to shareholders			(1.39	)			(2.23	)			(1.93	)			(0.38	)
Net asset value, end of period		$	48.69			$	31.55			$	62.60			$	67.56
TOTAL RETURN2			59.59	%			(46.43	)%			(4.61	)%			35.57	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	146,069			$	88,334			$	219,104			$	168,889
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.58	%3
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.61	%3
Net investment income			2.88	%			3.80	%			2.76	%			2.53	%3
Portfolio turnover rate4			49	%			32	%			18	%			44	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

122		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International SmallCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period June 16, 2006* through March 31, 2007
Net asset value, beginning of period		$	29.08			$	61.11			$	67.80			$	50.35
Investment operations:
Net investment income1			1.20				1.91				1.86				1.43
Net realized and unrealized gain (loss)			17.91				(31.83	)			(7.08	)			16.28
Total from investment operations			19.11				(29.92	)			(5.22	)			17.71
Dividends and distributions to shareholders:
Net investment income			(1.21	)			(2.11	)			(1.41	)			(0.26	)
Capital gains			—				—				(0.06	)			—
Total dividends and distributions to shareholders			(1.21	)			(2.11	)			(1.47	)			(0.26	)
Net asset value, end of period		$	46.98			$	29.08			$	61.11			$	67.80
TOTAL RETURN2			66.50	%			(49.23	)%			(7.79	)%			35.21	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	429,870			$	244,307			$	482,761			$	298,315
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.58	%3
Expenses, prior to expense reimbursements/waivers			0.58	%			0.58	%			0.58	%			0.60	%3
Net investment income			2.87	%			4.31	%			2.71	%			3.33	%3
Portfolio turnover rate4			63	%			43	%			17	%			39	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		123

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Emerging Markets Equity Income Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Period July 13, 2007* through March 31, 2008
Net asset value, beginning of period		$	31.11			$	51.82			$	50.68
Investment operations:
Net investment income1			1.48				2.01				1.12
Net realized and unrealized gain (loss)			21.00				(20.76	)			0.51
Total from investment operations			22.48				(18.75	)			1.63
Dividends to shareholders:
Net investment income			(1.57	)			(1.96	)			(0.49	)
Total dividends to shareholders			(1.57	)			(1.96	)			(0.49	)
Net asset value, end of period		$	52.02			$	31.11			$	51.82
TOTAL RETURN2			73.33	%			(36.21	)%			3.23	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	540,990			$	177,355			$	165,813
Ratios to average net assets of:
Net expenses			0.63	%			0.63	%			0.63	%3
Net investment income			3.26	%			4.96	%			3.18	%3
Portfolio turnover rate4			44	%			67	%			3	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

124		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Emerging Markets SmallCap Dividend Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Period October 30, 2007* through March 31, 2008
Net asset value, beginning of period		$	24.62			$	43.95			$	51.50
Investment operations:
Net investment income1			1.02				1.56				0.37
Net realized and unrealized gain (loss)			20.00				(19.57	)			(7.87	)
Total from investment operations			21.02				(18.01	)			(7.50	)
Dividends to shareholders:
Net investment income			(1.13	)			(1.32	)			(0.05	)
Total dividends to shareholders			(1.13	)			(1.32	)			(0.05	)
Net asset value, end of period		$	44.51			$	24.62			$	43.95
TOTAL RETURN2			86.26	%			(40.81	)%			(14.57	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	342,754			$	51,706			$	52,742
Ratios to average net assets of:
Net expenses			0.63	%5			0.63	%			0.63	%3
Net investment income			2.59	%			4.98	%			1.99	%3
Portfolio turnover rate4			38	%			64	%			6	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

5	Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the India Earnings Fund that are paid indirectly by the Fund. The Fund invests a portion of its assests in the WisdomTree India Earnings Fund in order to achieve exposure to securities in India.

 

See Notes to Financial Statements.

 

WisdomTree International Dividend and Sector Funds		125

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Middle East Dividend Fund		For the Year Ended March 31, 2010				For the Period July 16, 2008* through March 31, 2009
Net asset value, beginning of period		$	12.13			$	24.59
Investment operations:
Net investment income1			0.53				0.32
Net realized and unrealized gain (loss)			3.68				(12.78	)
Total from investment operations			4.21				(12.46	)
Dividends to shareholders:
Net investment income			(0.70	)			—
Total dividends to shareholders			(0.70	)			—
Net asset value, end of period		$	15.64			$	12.13
TOTAL RETURN2			35.25	%			(50.67	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	12,515			$	7,279
Ratios to average net assets of:
Expenses, net of expense reimbursements/waivers			0.88	%			0.88	%3
Expenses, prior to expense reimbursements/waivers			1.30	%			1.49	%3
Net investment income			3.63	%			2.86	%3
Portfolio turnover rate4			96	%			26	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed/waived by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

126		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Hedged Equity Fund		For the Period December 31, 2009* through March 31, 2010
Net asset value, beginning of period		$	46.92
Investment operations:
Net investment income1			0.29
Net realized and unrealized gain (loss)			0.64
Total from investment operations			0.93
Dividends to shareholders:
Net investment income			(0.13	)
Total dividends to shareholders			(0.13	)
Net asset value, end of period		$	47.72
TOTAL RETURN2			1.98	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	9,545
Ratios to average net assets of:
Expenses, net of expense reimbursements			0.47	%**3
Expenses, prior to expense reimbursements			0.58	%3
Net investment income			2.53	%3
Portfolio turnover rate4			79	%

 

*	Commencement of investment operations.

 

**	Reflects the Fund’s advisory fees, after waiver, and the fees and expenses of the underlying funds that were paid indirectly by the Fund during the period when the Fund operated as a “fund of funds.”

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Basic Materials Sector Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period October 13, 2006* through March 31, 2007
Net asset value, beginning of period		$	16.04			$	35.96			$	32.03			$	25.46
Investment operations:
Net investment income1			0.47				0.65				0.61				0.25
Net realized and unrealized gain (loss)			12.80				(19.29	)			3.58				6.32
Total from investment operations			13.27				(18.64	)			4.19				6.57
Dividends and distributions to shareholders:
Net investment income			(0.41	)			(1.28	)			(0.26	)			—
Capital gains			—				—				(0.00	)2			—
Total dividends and distributions to shareholders			(0.41	)			(1.28	)			(0.26	)			—
Net asset value, end of period		$	28.90			$	16.04			$	35.96			$	32.03
TOTAL RETURN3			83.44	%			(52.10	)%			13.09	%			25.81	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	49,137			$	22,460			$	93,507			$	6,406
Ratios to average net assets of:
Expenses, net of expense reimbursements			0.58	%			0.58	%			0.58	%			0.58	%4
Expenses, prior to expense reimbursements			0.58	%			0.58	%			0.58	%			0.88	%4
Net investment income			1.91	%			2.21	%			1.62	%			1.89	%4
Portfolio turnover rate5			25	%			53	%			11	%			0	%6

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2	Amount represents less than $0.005.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

4	Annualized.

 

5	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

6	Amount represents less than 1%.

 

See Notes to Financial Statements.

 

128		WisdomTree International Dividend and Sector Funds

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Energy Sector Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period October 13, 2006* through March 31, 2007
Net asset value, beginning of period		$	18.61			$	31.98			$	28.55			$	25.44
Investment operations:
Net investment income1			0.80				1.01				0.79				0.22
Net realized and unrealized gain (loss)			6.07				(12.84	)			3.18				2.92
Total from investment operations			6.87				(11.83	)			3.97				3.14
Dividends and distributions to shareholders:
Net investment income			(0.85	)			(1.54	)			(0.53	)			(0.03	)
Capital gains			—				—				(0.01	)			—
Total dividends and distributions to shareholders			(0.85	)			(1.54	)			(0.54	)			(0.03	)
Net asset value, end of period		$	24.63			$	18.61			$	31.98			$	28.55
TOTAL RETURN2			37.29	%			(37.05	)%			13.84	%			12.36	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	45,569			$	22,332			$	57,562			$	22,840
Ratios to average net assets of:
Expenses, net of expense reimbursements			0.58	%			0.58	%			0.58	%			0.58	%3
Expenses, prior to expense reimbursements			0.58	%			0.58	%			0.58	%			0.69	%3
Net investment income			3.36	%			3.49	%			2.43	%			1.82	%3
Portfolio turnover rate4			16	%			38	%			13	%			1	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

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Financial Highlights (continued)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Utilities Sector Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Year Ended March 31, 2008				For the Period October 13, 2006* through March 31, 2007
Net asset value, beginning of period		$	17.78			$	32.73			$	29.71			$	24.96
Investment operations:
Net investment income1			0.87				1.25				0.55				0.18
Net realized and unrealized gain (loss)			3.77				(14.74	)			2.75				4.61
Total from investment operations			4.64				(13.49	)			3.30				4.79
Dividends and distributions to shareholders:
Net investment income			(0.96	)			(1.46	)			(0.28	)			(0.04	)
Capital gains			—				—				(0.00	)2			—
Total dividends and distributions to shareholders			(0.96	)			(1.46	)			(0.28	)			(0.04	)
Net asset value, end of period		$	21.46			$	17.78			$	32.73			$	29.71
TOTAL RETURN3			26.42	%			(42.00	)%			11.05	%			19.18	%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	49,348			$	28,455			$	78,561			$	23,768
Ratios to average net assets of:
Expenses, net of expense reimbursements			0.58	%			0.58	%			0.58	%			0.58	%4
Expenses, prior to expense reimbursements			0.58	%			0.58	%			0.58	%			0.68	%4
Net investment income			4.17	%			4.53	%			1.62	%			1.38	%4
Portfolio turnover rate5			17	%			50	%			13	%			1	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2	Amount represents less than $0.005.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. The total return would have been lower if certain expenses had not been reimbursed by the investment adviser (Note 2).

 

4	Annualized.

 

5	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

130		WisdomTree International Dividend and Sector Funds

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Financial Highlights (concluded)

WisdomTree International Dividend and Sector Funds

March 31, 2010

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Real Estate Fund		For the Year Ended March 31, 2010				For the Year Ended March 31, 2009				For the Period June 5, 2007* through March 31, 2008
Net asset value, beginning of period		$	16.92			$	41.84			$	51.89
Investment operations:
Net investment income1			0.96				1.35				1.22
Net realized and unrealized gain (loss)			11.39				(25.46	)			(9.32	)
Total from investment operations			12.35				(24.11	)			(8.10	)
Dividends to shareholders:
Net investment income			(2.52	)			(0.81	)			(1.95	)
Total dividends to shareholders			(2.52	)			(0.81	)			(1.95	)
Net asset value, end of period		$	26.75			$	16.92			$	41.84
TOTAL RETURN2			74.20	%			(57.85	)%			(15.90	)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)		$	84,276			$	40,619			$	112,962
Ratios to average net assets of:
Net expenses			0.58	%			0.58	%			0.58	%3
Net investment income			3.76	%			4.55	%			3.17	%3
Portfolio turnover rate4			19	%			35	%			15	%

 

*	Commencement of investment operations.

 

1	Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.

 

3	Annualized.

 

4	Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

 

See Notes to Financial Statements.

 

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Notes to Financial Statements

March 31, 2010

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust pursuant to a Trust Instrument dated December 15, 2005. As of March 31, 2010, the Trust offered 42 investment funds (each a “Fund,” collectively, the “Funds”). The Funds described herein, commenced operations on June 16, 2006, except as follows; The WisdomTree International Basic Materials Sector Fund, WisdomTree International Energy Sector Fund, WisdomTree International Utilities Sector Fund commenced operations on October 13, 2006. The WisdomTree International Real Estate Fund, WisdomTree Emerging Markets Equity Income Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Middle East Dividend Fund and WisdomTree International Hedged Equity Fund, commenced operations on June 5, 2007, July 13, 2007, October 30, 2007, July 16, 2008 and December 31, 2009, respectively.

These financial statements relate only to the WisdomTree DEFA Fund (“DEFA Fund”), WisdomTree DEFA Equity Income Fund (“DEFA Equity Income Fund”), WisdomTree Global Equity Income Fund, formerly WisdomTree Europe Equity Income Fund (“Global Equity Income Fund”), WisdomTree Europe SmallCap Dividend Fund (“Europe SmallCap Dividend Fund”), WisdomTree Japan Total Dividend Fund (“Japan Total Dividend Fund”), WisdomTree World ex-U.S. Growth Fund, formerly WisdomTree Japan Equity Income Fund (“World ex-U.S. Growth Fund”), WisdomTree Japan SmallCap Dividend Fund (“Japan SmallCap Dividend Fund”), WisdomTree Pacific ex-Japan Total Dividend Fund (“Pacific ex-Japan Total Dividend Fund”), WisdomTree Pacific ex-Japan Equity Income Fund (“Pacific ex-Japan Equity Income Fund”), WisdomTree International LargeCap Dividend Fund (“International LargeCap Dividend Fund”), WisdomTree International Dividend ex-Financials Fund, formerly the WisdomTree International Dividend Top 100 Fund (“International Dividend ex-Financials Fund”), WisdomTree International MidCap Dividend Fund (“International MidCap Dividend Fund”), WisdomTree International SmallCap Dividend Fund (“International SmallCap Dividend Fund”), WisdomTree Emerging Markets Equity Income Fund (“Emerging Markets Equity Income Fund”), WisdomTree Emerging Markets SmallCap Dividend Fund (“Emerging Markets SmallCap Dividend Fund”), WisdomTree Middle East Dividend Fund (“Middle East Dividend Fund”), WisdomTree International Hedged Equity Fund (“International Hedged Equity Fund”), WisdomTree International Basic Materials Sector Fund (“International Basic Materials Sector Fund”), WisdomTree International Energy Sector Fund (“International Energy Sector Fund”), WisdomTree International Utilities Sector Fund (“International Utilities Sector Fund”) and WisdomTree International Real Estate Fund (“International Real Estate Fund”), together the “International Dividend and Sector Funds.”

Each Fund seeks investment returns that closely correspond to the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree Investments, Inc. (“WisdomTree Investments”). Each Fund described herein is considered to be non-diversified.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) has become the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The Codification has superseded all existing non-SEC accounting and reporting standards.

Guarantees — In the normal course of business the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.

Use of Estimates — The preparation of financial statements in conformity with GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Investment Valuation — The Net Asset Value (“NAV”) of each Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange, generally 4:00 p.m. New York time. NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Securities traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. The Fund may rely on an independent fair valuation service in adjusting the valuations of foreign securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the highest bid and lowest ask prices. Securities for which market quotations are not readily available are valued at fair value as determined by management and in

 

132		WisdomTree International Dividend and Sector Funds

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Notes to Financial Statements (continued)

 

accordance with procedures approved by the Board of Trustees. Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.

In certain instances, such as when reliable market valuations are not readily available or are not deemed to reflect current market values, a Fund’s investments will be valued in accordance with the Fund’s pricing policy and procedures. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV calculation time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). Price movements in U.S. markets that are deemed to affect the value of foreign securities, or reflect changes to the value of such securities, also may cause securities to be “fair valued.” When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities. Transactions in Fund shares will be priced at NAV only if you purchase or redeem shares directly from a Fund in Creation Units, which are typically in blocks or 50,000 shares or more. Fund shares purchased or sold on a national securities exchange at market prices, which may be higher or lower than NAV. Each Fund may invest in money market funds which are valued at NAV.

Fair Value Measurement — GAAP provides guidance on fair value measurements. This standard defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosure about fair value measurements.

Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in the three broad levels listed below.

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including each Fund’s assumption in determining the fair value of investments)

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which a Fund’s net asset value is computed and that may materially affect the value of the Fund’s investments).

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

The following is a summary of the inputs used as of March 31, 2010 in valuing each Fund’s assets carried at fair value:

 

DEFA Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	431,464,635		$	—			$	—
Rights			7,447			—				—
Money Market Fund			—			3,252,437				—
Total			431,472,082			3,252,437				—
Other Financial Instruments*			—			(27	)			—
Total – Net		$	431,472,082		$	3,252,410			$	—

 

DEFA Equity Income Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	141,267,636		$	—			$	—
Rights			3,551			—				—
Money Market Fund			—			9,410,520				—
Total			141,271,187			9,410,520				—
Other Financial Instruments*			—			(16	)			—
Total – Net		$	141,271,187		$	9,410,504			$	—

 

WisdomTree International Dividend and Sector Funds		133

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Global Equity Income Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	42,661,001		$	—			$	—
Money Market Fund			—			232,114				—
Total			42,661,001			232,114				—
Other Financial Instruments*			—			27				—
Total – Net		$	42,661,001		$	232,141			$	—
Europe SmallCap Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	29,725,833		$	—			$	—
Money Market Fund			—			2,357,619				—
Total			29,725,833			2,357,619				—
Other Financial Instruments*			—			(674	)			—
Total – Net		$	29,725,833		$	2,356,945			$	—
Japan Total Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	54,012,298		$	—			$	—
Money Market Fund			—			6,433,241				—
Total			54,012,298			6,433,241				—
Other Financial Instruments*			—			(2,383	)			—
Total – Net		$	54,012,298		$	6,430,858			$	—
World ex-U.S. Growth Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	24,231,527		$	—			$	—
Rights			390			—				—
Money Market Fund			—			594,175				—
Affiliated Funds			358,979			—				—
Total			24,590,896			594,175				—
Other Financial Instruments*			—			(1,483	)			—
Total – Net		$	24,590,896		$	592,692			$	—
Japan SmallCap Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	155,693,205		$	—			$	—
Money Market Fund			—			17,102,987				—
Total		$	155,693,205		$	17,102,987			$	—
Pacific ex-Japan Total Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	87,989,883		$	—			$	—
Money Market Fund			—			3,841,171				—
Total		$	87,989,883		$	3,841,171			$	—
Pacific ex-Japan Equity Income Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	115,840,395		$	—			$	—
Money Market Fund			—			16,556,045				—
Total		$	115,840,395		$	16,556,045			$	—

 

134		WisdomTree International Dividend and Sector Funds

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International LargeCap Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	148,261,055		$	—			$	—
Rights			929			—				—
Money Market Fund			—			7,469,570				—
Total			148,261,984			7,469,570				—
Other Financial Instruments*			—			(12	)			—
Total – Net		$	148,261,984		$	7,469,558			$	—
International Dividend ex-Financials Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	162,483,182		$	—			$	—
Money Market Fund			—			4,533,391				—
Total		$	162,483,182		$	4,533,391			$	—
International MidCap Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	144,975,811		$	—			$	1,562
Rights			9,563			—				—
Money Market Fund			—			14,934,216				—
Total		$	144,985,374		$	14,934,216			$	1,562
International SmallCap Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	423,533,448		$	—			$	—
Money Market Fund			—			68,153,096				—
Total			423,533,448			68,153,096				—
Other Financial Instruments*			—			(227	)			—
Total – Net		$	423,533,448		$	68,152,869			$	—

 

Emerging Markets Equity Income Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	536,442,822		$	—			$	—
Warrants			—			1,651				—
Money Market Fund			—			7,306,011				—
Total			536,442,822			7,307,662				—
Other Financial Instruments*			—			(46,147	)			—
Total – Net		$	536,442,822		$	7,261,515			$	—
Emerging Markets SmallCap Dividend Fund		Level 1			Level 2				Level 3
Investments in Securities
Common Stocks		$	337,044,259		$	—			$	—
Warrants			—			2,072				—
Money Market Fund			—			12,303,099				—
Affiliated Funds			2,728,210			—				—
Total			339,772,469			12,305,171				—
Other Financial Instruments*			—			(14,478	)			—
Total – Net		$	339,772,469		$	12,290,693			$	—

 

WisdomTree International Dividend and Sector Funds		135

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Notes to Financial Statements (continued)

 

Middle East Dividend Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	12,338,311		$	—		$	—
Money Market Fund			—			3,377			—
Total			12,338,311			3,377			—
Other Financial Instruments*			—			13			—
Total – Net		$	12,338,311		$	3,390		$	—

 

International Hedged Equity Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	9,443,250		$	—		$	—
Rights			151			—			—
Money Market Fund			—			70,917			—
Total			9,443,401			70,917			—
Other Financial Instruments*			—			17,323			—
Total – Net		$	9,443,401		$	88,240		$	—

 

International Basic Materials Sector Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	48,976,595		$	—		$	1,203
Money Market Fund			—			2,797,261			—
Total		$	48,976,595		$	2,797,261		$	1,203

 

International Energy Sector Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	45,386,803		$	—		$	—
Money Market Fund			—			261,366			—
Total		$	45,386,803		$	261,366		$	—

 

International Utilities Sector Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	49,182,246		$	—		$	—
Money Market Fund			—			2,728,073			—
Total		$	49,182,246		$	2,728,073		$	—

 

International Real Estate Fund		Level 1			Level 2			Level 3
Investments in Securities
Common Stocks		$	83,517,463		$	—		$	—
Money Market Fund			—			5,230,336			—
Total		$	83,517,463		$	5,230,336		$	—

 

*

Other financial instruments include foreign forward currency contracts. The fair value of these contracts is represented by net unrealized appreciation or depreciation in this table.

 

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The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

 

DEFA Fund		Common Stocks
Balance as of April 1, 2009		$	90,390
Realized gain (loss)			(167,101	)
Change in unrealized appreciation (depreciation)			76,711
Net purchases (sales)			—
Transfers in and/or out of Level 3			—
Balance as of March 31, 2010		$	—

 

DEFA Equity Income Fund		Common Stocks
Balance as of April 1, 2009		$	83,193
Realized gain (loss)			(388,598	)
Change in unrealized appreciation (depreciation)			305,405
Net purchases (sales)			—
Transfers in and/or out of Level 3			—
Balance as of March 31, 2010		$	—

 

Global Equity Income Fund		Common Stocks
Balance as of April 1, 2009		$	12,272
Realized gain (loss)			(98,453	)
Change in unrealized appreciation (depreciation)			86,181
Net purchases (sales)			—
Transfers in and/or out of Level 3			—
Balance as of March 31, 2010		$	—

 

Europe SmallCap Dividend Fund		Common Stocks
Balance as of April 1, 2009		$	34,069
Realized gain (loss)			(359,629	)
Change in unrealized appreciation (depreciation)			318,864
Net purchases (sales)			(1,485	)
Transfers in and/or out of Level 3			8,181
Balance as of March 31, 2010		$	—

 

Pacific ex-Japan Total Dividend Fund		Common Stocks
Balance as of April 1, 2009		$	102,910
Realized gain (loss)			(219,691	)
Change in unrealized appreciation (depreciation)			123,693
Net purchases (sales)			(6,912	)
Transfers in and/or out of Level 3			—
Balance as of March 31, 2010		$	—

 

Pacific ex-Japan Equity Income Fund		Common Stocks
Balance as of April 1, 2009		$	82,865
Realized gain (loss)			(160,936	)
Change in unrealized appreciation (depreciation)			78,071
Net purchases (sales)			—
Transfers in and/or out of Level 3			—
Balance as of March 31, 2010		$	—

 

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International MidCap Dividend Fund		Common Stocks
Balance as of April 1, 2009		$	55,963
Realized gain (loss)			34,015
Change in unrealized appreciation (depreciation)*			(13,564	)
Net purchases (sales)			(74,852	)
Transfers in/or out of Level 3			—
Balance as of March 31, 2010		$	1,562

*

The net change in unrealized appreciation (depreciation) relating to investments still held by the Fund at 3/31/10 is $250.

 

International SmallCap Dividend Fund		Common Stocks
Balance as of April 1, 2009		$	1,207,451
Realized gain (loss)			(5,099,441	)
Change in unrealized appreciation (depreciation)			3,902,174
Net purchases (sales)			(71,829	)
Transfers in/or out of Level 3			61,645
Balance as of March 31, 2010		$	—

 

Middle East Dividend Fund		Common Stocks
Balance as of April 1, 2009		$	147,943
Realized gain (loss)			(77,820	)
Change in unrealized appreciation (depreciation)			(21,686	)
Net purchases (sales)			(48,437	)
Transfers in/or out of Level 3			—
Balance as of March 31, 2010		$	—

 

International Basic Materials Sector Fund		Common Stocks
Balance as of April 1, 2009		$	—
Realized gain (loss)			72,490
Change in unrealized appreciation (depreciation)*			7,090
Net purchases (sales)			(78,377	)
Transfers in and/or out of Level 3			—
Balance as of March 31, 2010		$	1,203

*

The net change in unrealized appreciation (depreciation) relating to investments still held by the Fund at 3/31/10 is $248.

In January-2010, FASB issued Accounting Standards Update (“ASU”) No. 2010-06 “Improving Disclosures about Fair Value Measurements.” ASU 2010-06 will require reporting entities to make new disclosures about amounts and reasons for significant transfers in and out of Level 1 and Level 2 fair value measurements as well as inputs and valuation techniques used to measure fair value for both recurring and nonrecurring fair value measurements that fall in either Level 2 or Level 3, and information on purchases, sales, issuances and settlements on a gross basis in the reconciliation of activity in Level 3 fair value measurements. The new and revised disclosures are required to be implemented for fiscal years beginning after December 15, 2009, except for the disclosures surrounding purchases, sales, issuances and settlements on a gross basis in the reconciliation of Level 3 fair value measurements, which are effective for fiscal years beginning after December 15, 2010. Management is currently evaluating the impact the adoption of ASU No. 2010-06 may have on the Fund’s financial statement disclosures.

Derivative and Hedging Disclosure — GAAP requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The application of this disclosure is effective for fiscal years beginning November 15, 2008 and interim period within those fiscal years. The funds that have invested in derivatives, specifically forward currency contracts, for the fiscal year ended March 31, 2010 are detailed in the forward currency contract table herein. The volume of derivatives that is presented in the forward foreign currency contracts table is consistent with the derivative activity during the year ended March 31, 2010. The Funds’ management is not aware of any credit-risk contingent feature on forward foreign currency contracts held by the Funds.

 

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The Funds listed below have invested in derivatives, specifically forward foreign currency contracts (“Forward Contracts”) as described on page 141, for the period ended March 31, 2010. The Forward Contracts are subject to credit risk which is where the financial condition of an issuer of a money market security may cause it to default or become unable to pay interest or principal due on the security, therefore, the counterparty to a derivative contract might default on its obligations. The effect of such derivative instruments on each Fund’s financial position and financial performance as reflected in the Statement of Assets and Liabilities and Statements of Operations are presented in the summary below.

 

		Asset Derivatives					Liability Derivatives
Derivatives not designated as hedging instruments, carried at fair value		Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
DEFA Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts		$	—		Unrealized depreciation on forward foreign currency contracts		$	27
DEFA Equity Income Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			—		Unrealized depreciation on forward foreign currency contracts			16
Global Equity Income Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			79		Unrealized depreciation on forward foreign currency contracts			52
Europe Small Cap Dividend Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			—		Unrealized depreciation on forward foreign currency contracts			674
Japan Total Dividend Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			—		Unrealized depreciation on forward foreign currency contracts			2,383
World ex-U.S. Growth Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			—		Unrealized depreciation on forward foreign currency contracts			1,483
International LargeCap Dividend Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			—		Unrealized depreciation on forward foreign currency contracts			12
International SmallCap Dividend Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			—		Unrealized depreciation on forward foreign currency contracts			227
Emerging Markets Equity Income Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			—		Unrealized depreciation on forward foreign currency contracts			46,147
Emerging Markets SmallCap Dividend Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			1,200		Unrealized depreciation on forward foreign currency contracts			15,678
Middle East Dividend Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			13		Unrealized depreciation on forward foreign currency contracts			—
International Hedged Equity Fund
Foreign exchange contracts		Unrealized appreciation on forward foreign currency contracts			64,966		Unrealized depreciation on forward foreign currency contracts			47,643

 

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Derivatives not designated as hedging instruments, carried at fair value		Derivative Instruments		Amount of Realized Gain or (Loss) on  Derivatives Recognized in Income				Change in Unrealized Appreciation or (Depreciation)  on Derivatives Recognized in Income
DEFA Fund		Forward Foreign Currency Contracts		$	(6,541,499	)		$	3,503
DEFA Equity Income Fund		Forward Foreign Currency Contracts			16,223				269
Global Equity Income Fund		Forward Foreign Currency Contracts			(375,657	)			71
Europe Small Cap Dividend Fund		Forward Foreign Currency Contracts			20,581				(2,333	)
Japan Total Dividend Fund		Forward Foreign Currency Contracts			(13,605	)			(3,292	)
World ex-U.S. Growth Fund		Forward Foreign Currency Contracts			(270,231	)			(1,331	)
Japan SmallCap Dividend Fund		Forward Foreign Currency Contracts			(7,159	)			655
Pacific ex-Japan Total Dividend Fund		Forward Foreign Currency Contracts			(14,920	)			730
Pacific ex-Japan Equity Income Fund		Forward Foreign Currency Contracts			(10,359	)			(538	)
International LargeCap Dividend Fund		Forward Foreign Currency Contracts			43,598				1,365
International Dividend ex-Financials Fund		Forward Foreign Currency Contracts			175,203				270
International MidCap Dividend Fund		Forward Foreign Currency Contracts			(37,065	)			(1,992	)
International SmallCap Dividend Fund		Forward Foreign Currency Contracts			133,557				2,419
Emerging Markets Equity Income Fund		Forward Foreign Currency Contracts			102,704				(45,998	)
Emerging Markets SmallCap Dividend Fund		Forward Foreign Currency Contracts			(59,186	)			(14,363	)
Middle East Dividend Fund		Forward Foreign Currency Contracts			(5,103	)			13
International Hedged Equity Fund		Forward Foreign Currency Contracts			99,455				17,323
International Basic Material Sector Fund		Forward Foreign Currency Contracts			(38,825	)			(1	)
International Energy Sector Fund		Forward Foreign Currency Contracts			4,890				86
International Utilities Sector Fund		Forward Foreign Currency Contracts			(1,281	)			44
International Real Estate Fund		Forward Foreign Currency Contracts			393				87

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income is recognized on the ex-dividend date, net of any foreign taxes withheld. Interest income including amortization of premium and discounts, is accrued daily. The value of additional securities received as dividend payments is recorded as income and as an increase to the cost basis of such securities.

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates deemed appropriate by the investment adviser. Realized and unrealized foreign exchange gains or losses on investments are included as a component of net realized and unrealized gain or loss on foreign currency transactions in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of ordinary income in accordance with U.S. Federal income tax regulations.

Expenses/Reimbursements — WisdomTree Asset Management, Inc. (“WTAM”) has agreed to pay all expenses of the Funds (other than the Middle East Dividend Fund), except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s chief compliance officer; (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Pursuant to a separate contractual arrangement, WTAM has arranged for the provision of chief compliance officer (“CCO”) services to the Funds, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees, in exchange for a service fee paid by each Fund, of up to 0.0044% of each Fund’s average daily net assets. Trustees fees, which are included in Service Fees on the Statements of Operations, of $361,436 have been paid on behalf of the Funds of the Trust to the Independent Trustees for the year ended March 31, 2010. Expenses in excess of 0.0044% were paid by WTAM. WTAM has agreed to limit the total expenses of the Middle East Dividend Fund to 0.88%.

Currency Transactions — The Funds may enter into foreign currency forward and foreign currency futures contracts to facilitate local securities settlements or to protect against currency exposure in connection with distributions to shareholders. The Funds, other than the International Hedged Equity Fund, do not expect to engage in currency transactions for the purpose of hedging against declines in the value of a Fund’s assets that are denominated in one or more foreign currencies. The Funds may not enter into such contracts for speculative purposes.

 

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Forward Foreign Currency Transactions — A forward foreign currency contract (“Forward Contract”) involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A forward contract generally has no margin deposit requirement, and no commissions are charged at any stage for trades.

Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar or each other.

Fluctuations in the value of open forward contracts are recorded for book purposes as unrealized gains or losses on forward foreign currency contracts by the Funds. Realized gains and losses on forward foreign currency contracts include net gains or losses recognized by the Funds on contracts which have matured.

The following forward foreign currency contracts were open at March 31, 2010:

 

Fund Name		Settlement Date				Contracts To Deliver				In Exchange For		Unrealized Gain (Loss)
DEFA Fund		4/01/10		USD		71		NZD		100		$	—
		4/01/10		USD		72		SGD		100			—
		4/06/10		AUD		177,000		USD		162,433			(27	)
		4/06/10		USD		34		NOK		200			—
												$	(27	)
DEFA Equity Income Fund
		4/01/10		USD		71		NZD		100		$	—
		4/06/10		AUD		109,818		USD		100,780			(16	)
												$	(16	)
Global Equity Income Fund
		4/01/10		USD		42,885		MYR		139,719		$	(52	)
		4/06/10		GBP		61,000		USD		92,610			79
												$	27
Europe Small Cap Dividend Fund
		4/01/10		EUR		61,844		USD		83,007		$	(674	)
Japan Total Dividend Fund
		4/01/10		USD		254,507		JPY		23,558,420		$	(2,383	)
World ex-U.S. Growth Fund
		4/01/10		ZAR		502,421		USD		66,930		$	(1,483	)
Pacific ex-Japan Total Dividend Fund
		4/01/10		USD		358		SGD		500		$	—
International LargeCap Dividend Fund
		4/06/10		AUD		80,000		USD		73,416		$	(12	)
International Midcap Dividend Fund
		4/01/10		USD		71		NZD		100		$	—
International SmallCap Dividend Fund
		4/01/10		EUR		35,533		USD		47,867		$	(213	)
		4/01/10		USD		358		SGD		500			—
		4/06/10		AUD		96,000		USD		88,099			(14	)
		4/06/10		USD		17		NOK		100			—
												$	(227	)
Emerging Markets Equity Income Fund
		4/01/10		USD		37,886		CLP		19,844,846		$	(69	)
		4/01/10		ZAR		22,879,664		USD		3,069,365			(46,078	)
												$	(46,147	)

 

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Fund Name		Settlement Date				Contracts To Deliver				In Exchange For		Unrealized Gain (Loss)
Emerging Markets SmallCap Dividend Fund
		4/01/10		KRW		1,670,000,000		USD		1,476,047			65
		4/01/10		USD		466,966		KRW		527,858,810			(433	)
		4/01/10		USD		270,101		MYR		879,990			(330	)
		4/01/10		USD		168,371		MYR		552,931			1,135
		4/01/10		ZAR		7,405,818		USD		933,509		$	(14,915	)
												$	(14,478	)
Middle East Dividend Fund
		4/05/10		QAR		238,375		USD		65,470		$	13
International Hedged Equity Fund
		4/08/10		AUD		933,489		USD		834,416		$	(22,210	)
		4/08/10		CHF		558,637		USD		517,753			(13,003	)
		4/08/10		GBP		1,165,498		USD		1,757,039			(10,881	)
		4/08/10		NOK		655,508		USD		110,159			(271	)
		4/08/10		SGD		282,447		USD		200,809			(1,220	)
		4/08/10		USD		3,701,725		EUR		2,729,707			8,158
		4/08/10		USD		1,207,456		JPY		107,600,832			55,881
		4/08/10		USD		242,627		SEK		1,739,815			884
		5/10/10		AUD		980,619		USD		896,727			5
		5/10/10		CHF		566,105		USD		537,995			13
		5/10/10		EUR		2,903,109		USD		3,928,255			(38	)
		5/10/10		GBP		1,213,633		USD		1,840,584			(16	)
		5/10/10		JPY		111,646,077		USD		1,195,073			25
		5/10/10		NOK		688,322		USD		115,787			(1	)
		5/10/10		SEK		1,882,587		USD		261,598			—
		5/10/10		SGD		295,522		USD		211,344			(3	)
												$	17,323

Currency Legend:

AUD – Australian dollar		NOK – Norwegian krone
CHF – Swiss franc		NZD – New Zealand dollar
CLP – Chilean peso		QAR – Qatar riyal
EUR – Euro		SEK – Swedish krona
GBP – British pound		SGD – Singapore dollar
JPY – Japanese yen		USD – U.S. dollar
KRW – South Korean won		ZAR – South African rand
MYR – Malaysian ringgit

Security Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Fund’s policy that , at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or high grade debt obligations, equivalent to at least 100% of the market value of securities is maintained at all times. The collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash or U.S. government securities held as collateral, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. The Funds retain all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults.

The securities lending income earned by the Funds is disclosed on the Statements of Operations.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments in which a Fund may invest include short-term obligations issued by the U.S. Government, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods

 

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of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (“the Code”). Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code. It is the policy of each Fund to pay out dividends, if any, to investors at least annually. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations which may differ from GAAP. These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions, which exceed earnings and profit for tax purposes, are reported as a tax return of capital.

3. ADVISER FEES AND TRANSACTIONS

As investment adviser, WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM also arranges for sub-advisory, transfer agency, custody, fund administration, and all other non-distribution related services necessary for the Funds to operate. Under the Investment Advisory Agreement for each Fund, WTAM agrees to pay all expenses of the Funds (other than the Middle East Dividend Fund), except compensation and expenses of the Independent Trustees, counsel to the Independent Trustees and the Trust’s CCO, interest expenses and taxes, brokerage expenses, and other expenses connected with the execution of portfolio transactions, any distribution fees or expenses, legal fees or expenses and extraordinary expenses. The Investment Advisory Agreement for the Middle East Dividend Fund does not require WTAM to pay any Fund expenses, sub-advisory fees.

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee of up to 0.0044%. As of October 1, 2009, WTAM provides CCO services to the Trust. WTAM has agreed to limit net annual operating expenses for the Middle East Dividend Fund to 0.88%. The fees paid to WTAM for providing advisory services are listed below.

 

Fund		Fee Rate
DEFA Fund		0.48	%
DEFA Equity Income Fund		0.58	%
Global Equity Income Fund		0.58	%
Europe SmallCap Dividend Fund		0.58	%
Japan Total Dividend Fund		0.48	%
World ex-U.S. Growth Fund		0.58	%
Japan SmallCap Dividend Fund		0.58	%
Pacific ex-Japan Total Dividend Fund		0.48	%
Pacific ex-Japan Equity Income Fund		0.58	%
International LargeCap Dividend Fund		0.48	%
International Dividend ex-Financials Fund		0.58	%
International MidCap Dividend Fund		0.58	%
International SmallCap Dividend Fund		0.58	%
Emerging Markets Equity Income Fund		0.63	%
Emerging Markets SmallCap Dividend Fund		0.63	%
Middle East Dividend Fund		0.68	%
International Hedged Equity Fund		0.48	%
International Basic Materials Sector Fund		0.58	%
International Energy Sector Fund		0.58	%
International Utilities Sector Fund		0.58	%
International Real Estate Fund		0.58	%

 

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Notes to Financial Statements (continued)

 

Each Fund may purchase shares of an affiliated ETF in secondary market transactions. For the fiscal year ended March 31, 2010, there were transactions in affiliated ETFs. For the period June 19, 2009 (December 31, 2009 for Hedged Equity) through January 28, 2010, the WisdomTree DEFA, Global Equity Income and International Hedged Equity Funds each operated as a fund of fund. During this period, WTAM waived an amount of advisory fees based on each Fund’s allocation to its Underlying Funds. Beginning August 20, 2009, the Emerging Markets SmallCap Dividend Fund and World ex-U.S. Growth Fund held shares of the India Earnings Fund and each Fund waived an amount based on the allocation to its Underlying Funds through March 31, 2010. The table below indicates the waiver amounts. Please see Note 7 for further information on Other Affiliated Parties and Transactions.

WTAM waived a portion of its investment advisory fees with respect to its investments in affiliated funds for the year ended March 31, 2010 as follows:

 

Fund		Advisory Fees Waived
DEFA Fund		$	1,178,246
Global Equity Income Fund			107,067
World ex-U.S. Growth Fund			709
Emerging Markets SmallCap Dividend Fund			7,705
International Hedged Equity Fund			1,799

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2010, there was an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in Creation Units or multiples thereof. Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of Creation Units of a Fund generally consist of the in-kind contribution of a designated portfolio of equity securities constituting a portfolio sampling representation of the securities included in the relevant Fund’s underlying index and an amount of cash. The Middle East Dividend Fund issues and redeems shares on a cash basis only. Investors purchasing and redeeming Creation Units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding in-kind purchases and redemptions and short-term investments) for the fiscal year ended March 31, 2010 were as follows:

 

Fund		Purchases			Sales
DEFA Fund		$	792,887,574		$	377,849,395
DEFA Equity Income Fund			50,573,320			49,821,843
Global Equity Income Fund			70,411,868			30,810,806
Europe SmallCap Dividend Fund			13,378,170			13,711,677
Japan Total Dividend Fund			7,694,187			8,531,149
World ex-U.S. Growth Fund			25,601,864			26,272,073
Japan SmallCap Dividend Fund			42,583,440			42,719,654
Pacific ex-Japan Total Dividend Fund			18,337,914			18,031,079
Pacific ex-Japan Equity Income Fund			20,348,961			20,604,189
International LargeCap Dividend Fund			29,799,389			30,093,257
International Dividend ex-Financials Fund			96,505,483			97,592,396
International MidCap Dividends Fund			58,929,301			58,778,940
International SmallCap Dividend Fund			228,148,408			230,010,183
Emerging Markets Equity Income Fund			282,053,505			155,842,221
Emerging Markets SmallCap Dividend Fund			193,158,886			72,864,634
Middle East Dividend Fund			11,592,682			9,339,439
International Hedged Equity Fund			4,742,667			4,563,906
International Basic Materials Sector Fund			10,344,349			9,918,272
International Energy Sector Fund			5,787,877			5,805,503
International Utilities Sector Fund			6,247,587			6,134,856
International Real Estate Fund			13,458,014			18,331,088

 

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Notes to Financial Statements (continued)

 

For the fiscal year ended March 31, 2010, the cost of in-kind purchases and the proceeds from in-kind redemptions were as follows:

 

Fund		Purchases			Redemptions
DEFA Fund		$	32,710,600		$	439,256,702
DEFA Equity Income Fund			37,333,379			26,669,392
Global Equity Income Fund			13,576,767			38,903,582
Europe SmallCap Dividend Fund			11,402,687			3,480,510
Japan Total Dividend Fund			101,040,644			75,289,742
World ex-U.S. Growth Fund			4,170,910			6,742,035
Japan SmallCap Dividend Fund			89,783,968			18,989,827
Pacific ex-Japan Total Dividend Fund			79,192,745			66,806,193
Pacific ex-Japan Equity Income Fund			131,423,008			64,448,605
International LargeCap Dividend Fund			50,983,728			11,956,579
International Dividend ex-Financials Fund			31,377,933			20,536,471
International MidCap Dividend Fund			24,187,379			11,109,477
International SmallCap Dividend Fund			53,286,552			22,629,902
Emerging Markets Equity Income Fund			98,350,509			7,924,534
Emerging Markets SmallCap Dividend Fund			104,501,075			10,086,013
Middle East Dividend Fund			—			—
International Hedged Equity Fund			9,158,510			—
International Basic Materials Sector Fund			10,876,562			4,241,087
International Energy Sector Fund			17,103,089			1,158,745
International Utilities Sector Fund			23,149,677			6,640,344
International Real Estate Fund			27,489,594			5,870,929

Gains and losses on in-kind redemptions are not recognized at the Fund level for tax purposes.

6. FEDERAL INCOME TAXES

At March 31, 2010, the cost of investments (including securities on loan) for Federal income tax purposes was as follows:

 

Fund		Tax Cost			Gross Unrealized Appreciation			Gross Unrealized Depreciation				Net Unrealized Appreciation (Depreciation)
DEFA Fund		$	426,512,815		$	17,257,495		$	(9,045,791	)		$	8,211,704
DEFA Equity Income Fund			162,525,696			9,264,510			(21,108,499	)			(11,843,989	)
Global Equity Income Fund			41,236,407			2,445,491			(788,783	)			1,656,708
Europe SmallCap Dividend Fund			33,810,345			2,329,228			(4,056,121	)			(1,726,893	)
Japan Total Dividend Fund			64,356,243			1,322,695			(5,233,399	)			(3,910,704	)
World ex-U.S. Growth Fund			21,142,222			4,278,644			(235,795	)			4,042,849
Japan SmallCap Dividend Fund			177,578,703			5,835,805			(10,618,316	)			(4,782,511	)
Pacific ex-Japan Total Dividend Fund			90,337,473			8,335,527			(6,841,946	)			1,493,581
Pacific ex-Japan Equity Income Fund			126,761,931			10,130,655			(4,496,146	)			5,634,509
International LargeCap Dividend Fund			165,724,485			7,395,681			(17,388,612	)			(9,992,931	)
International Dividend ex-Financials Fund			158,639,330			20,106,705			(11,729,462	)			8,377,243
International MidCap Dividend Fund			170,675,414			10,459,048			(21,213,310	)			(10,754,262	)
International SmallCap Dividend Fund			481,398,471			54,252,810			(43,964,737	)			10,288,073
Emerging Markets Equity Income Fund			468,719,318			85,910,006			(10,878,840	)			75,031,166
Emerging Markets SmallCap Dividend Fund			305,080,175			51,795,974			(4,798,509	)			46,997,465
Middle East Dividend Fund			12,931,382			802,665			(1,392,359	)			(589,694	)
International Hedged Equity Fund			9,207,294			385,359			78,335				307,024
International Basic Materials Sector Fund			53,232,595			4,783,717			(6,241,253	)			(1,457,536	)
International Energy Sector Fund			53,146,414			2,052,614			(9,550,859	)			(7,498,245	)
International Utilities Sector Fund			65,983,892			416,815			(14,490,388	)			(14,073,573	)
International Real Estate Fund			109,575,606			1,227,991			(22,055,798	)			(20,827,807	)

 

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Notes to Financial Statements (continued)

 

At March 31, 2010, the components of accumulated earnings/loss on a tax-basis were as follows:

 

Fund		Undistributed Ordinary Income and Other Ordinary Losses			Undistributed Capital and Other Gains/(Losses)				Net Unrealized Appreciation (Depreciation)				Currency Unrealized Appreciation (Depreciation)				Total Accumulated Earnings/(Losses)
DEFA Fund		$	1,140,030		$	(219,881,026	)		$	8,211,704			$	14,684			$	(210,514,608	)
DEFA Equity Income Fund			260,601			(67,558,632	)			(11,843,989	)			2,057				(79,139,963	)
Global Equity Income Fund			62,962			(22,641,799	)			1,656,708				1,972				(20,920,157	)
Europe SmallCap Dividend Fund			99,456			(23,839,571	)			(1,726,893	)			(2,497	)			(25,469,505	)
Japan Total Dividend Fund			434,459			(4,057,102	)			(3,910,704	)			(7,229	)			(7,540,576	)
World ex-U.S. Growth Fund			35,469			(13,265,235	)			4,042,849				4,395				(9,182,522	)
Japan SmallCap Dividend Fund			1,345,649			(16,860,932	)			(4,782,511	)			(15,402	)			(20,313,196	)
Pacific ex-Japan Total Dividend Fund			50,779			(14,061,534	)			1,493,581				4,975				(12,512,199	)
Pacific ex-Japan Equity Income Fund			118,893			(12,970,621	)			5,634,509				12,590				(7,204,629	)
International LargeCap Dividend Fund			318,560			(33,634,723	)			(9,992,931	)			4,939				(43,304,155	)
International Dividend ex-Financials Fund			271,354			(148,441,407	)			8,377,243				11,550				(139,781,260	)
International MidCap Dividend Fund			617,417			(62,652,514	)			(10,754,262	)			(2,115	)			(72,791,474	)
International SmallCap Dividend Fund			2,520,285			(212,839,404	)			10,288,073				(17,195	)			(200,048,241	)
Emerging Markets Equity Income Fund			1,676,228			(35,558,533	)			75,031,166				99,234				41,248,095
Emerging Markets SmallCap Dividend Fund			1,663,123			(13,626,970	)			46,997,465				29,148				35,062,766
Middle East Dividend Fund			107,910			(6,581,135	)			(589,694	)			16,641				(7,046,278	)
International Hedged Equity Fund			172,890			(208,267	)			307,024				118				271,765
International Basic Materials Sector Fund			117,334			(13,866,539	)			(1,457,536	)			(1,110	)			(15,207,851	)
International Energy Sector Fund			14,755			(6,942,991	)			(7,498,245	)			(264	)			(14,426,745	)
International Utilities Sector Fund			152,662			(7,530,173	)			(14,073,573	)			(76	)			(21,451,160	)
International Real Estate Fund			624,600			(37,110,044	)			(20,827,807	)			(6,877	)			(57,320,128	)

The tax character of distributions paid during the fiscal year ended March 31, 2010 and March 31, 2009, was as follows:

 

		Year Ended March 31, 2010			Year Ended March 31, 2009
Fund		Distributions Paid from Ordinary Income*			Distributions Paid from Ordinary Income*			Return of Capital
DEFA Fund		$	19,292,972		$	16,276,475		$	—
DEFA Equity Income Fund			5,586,535			9,694,798			—
Global Equity Income Fund			1,835,881			1,903,608			—
Europe SmallCap Dividend Fund			776,003			1,802,430			—
Japan Total Dividend Fund			934,315			559,727			—
World ex-U.S. Growth Fund			859,811			623,658			—
Japan SmallCap Dividend Fund			1,520,747			1,401,224			—
Pacific ex-Japan Total Dividend Fund			3,574,407			5,131,577			—
Pacific ex-Japan Equity Income Fund			3,645,372			3,396,394			—
International LargeCap Dividend Fund			4,322,343			5,333,253			—
International Dividend ex-Financials Fund			5,343,066			16,564,667			—
International MidCap Dividend Fund			3,633,344			6,683,004			—
International SmallCap Dividend Fund			10,659,948			17,493,804			—
Emerging Markets Equity Income Fund			11,953,872			9,437,988			—
Emerging Markets SmallCap Dividend Fund			5,378,463			2,648,831			—
Middle East Dividend Fund			431,581			—			—
International Hedged Equity Fund			25,814			N/A			N/A
International Basic Materials Sector Fund			670,355			2,037,349			16,011
International Energy Sector Fund			1,249,410			1,852,260			—
International Utilities Sector Fund			1,445,458			2,592,420			—
International Real Estate Fund			7,422,149			2,071,270			—

*

Includes short-term capital gains.

 

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Notes to Financial Statements (continued)

 

At March 31, 2010, for Federal income tax purposes, the Funds have capital loss carryforwards available to offset future capital gains through the years indicated. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

Fund		Capital Loss Available Through 2015			Capital Loss Available Through 2016			Capital Loss Available Through 2017			Capital Loss Available Through 2018			Capital Loss Available Total
DEFA Fund		$	—		$	1,113,913		$	31,593,366		$	187,019,410		$	219,726,689
DEFA Equity Income Fund			3,223			1,088,572			24,469,991			41,582,445			67,144,231
Global Equity Income Fund			—			251,233			6,927,464			15,414,669			22,593,366
Europe SmallCap Dividend Fund			—			1,116,689			6,092,078			16,382,086			23,590,853
Japan Total Dividend Fund			61,971			147,026			456,605			3,305,242			3,970,844
World ex-U.S. Growth Fund			60,955			723,789			3,657,374			8,823,117			13,265,235
Japan SmallCap Dividend Fund			6,631			450,744			2,793,131			13,069,045			16,319,551
Pacific ex-Japan Total Dividend Fund			2,486			434,717			1,942,155			11,545,171			13,924,529
Pacific ex-Japan Equity Income Fund			—			292,646			2,237,436			10,381,107			12,911,189
International LargeCap Dividend Fund			12,856			911,666			10,714,056			21,950,675			33,589,253
International Dividend ex-Financials Fund			—			1,247,174			40,771,676			106,422,557			148,441,407
International MidCap Dividend Fund			—			2,200,353			10,045,031			49,400,362			61,645,746
International SmallCap Dividend Fund			—			2,417,649			31,684,635			176,124,517			210,226,801
Emerging Markets Equity Income Fund			—			166,963			3,240,763			32,150,807			35,558,533
Emerging Markets SmallCap Dividend Fund			—			—			4,224,150			9,367,814			13,591,964
Middle East Dividend Fund			—			—			41,648			6,522,827			6,564,475
International Hedged Equity Fund			—			—			—			208,267			208,267
International Basic Materials Sector Fund			—			606,109			911,737			12,348,688			13,866,534
International Energy Sector Fund			—			45,822			1,245,793			4,858,681			6,150,296
International Utilities Sector Fund			—			13,301			1,722,994			5,793,876			7,530,171
International Real Estate Fund						261,244			12,351,482			23,011,711			35,624,437

Capital losses, currency losses and passive foreign investment company (“PFIC”) losses incurred after October 31 (“post-October losses”) within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year.

During the fiscal year ended March 31, 2010, the following Funds incurred and will elect to defer net post-October losses as follows:

 

Fund		Post-October PFIC Losses			Post-October Currency Losses			Post-October Capital Losses
DEFA Fund		$	—		$	11,108		$	154,337
DEFA Equity Income Fund			5,676			29,138			414,401
Global Equity Income Fund			—			—			48,433
Europe SmallCap Dividend Fund			2,235			5,889			248,718
Japan Total Dividend Fund			—			—			86,258
World ex-U.S. Growth Fund			—			7,320			—
Japan SmallCap Dividend Fund			—			—			541,381
Pacific ex-Japan Total Dividend Fund			26,361			33,037			137,005
Pacific ex-Japan Equity Income Fund			311,654			20,451			59,432
International LargeCap Dividend Fund			—			30,373			45,470
International Dividend ex-Financials Fund			—			31,185			—
International MidCap Dividend Fund			—			12,551			1,006,768
International SmallCap Dividend Fund			—			107,849			2,612,603
Emerging Markets Equity Income Fund			—			62,575			—
Emerging Markets SmallCap Dividend Fund			—			108,731			35,006
Middle East Dividend Fund			—			23,566			16,660
International Hedged Equity Fund			—			—			—
International Basic Materials Sector Fund			—			1,634			5
International Energy Sector Fund			705			11,851			792,695
International Utilities Sector Fund			—			6,430			2
International Real Estate Fund			—			3,127			1,485,607

 

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Notes to Financial Statements (continued)

 

At March 31, 2010, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as follows:

 

Fund		Undistributed Net Investment Income/(Loss)				Accumulated Net Realized Gain/ (Loss)				Paid-in Capital
DEFA Fund		$	565,225			$	(53,758,549	)		$	53,193,324
DEFA Equity Income Fund			199,147				(2,063,282	)			1,864,135
Global Equity Income Fund			53,582				(4,092,486	)			4,038,904
Europe SmallCap Dividend Fund			51,399				(847,881	)			796,482
Japan Total Dividend Fund			74,260				(2,884,081	)			2,809,821
World ex-U.S. Growth Fund			111,386				(149,597	)			38,211
Japan SmallCap Dividend Fund			72,160				(749,184	)			677,024
Pacific ex-Japan Total Dividend Fund			115,944				(8,360,954	)			8,245,010
Pacific ex-Japan Equity Income Fund			73,620				(3,517,663	)			3,444,043
International LargeCap Dividend Fund			30,494				(1,803,882	)			1,773,388
International Dividend ex-Financials Fund			78,060				1,549,236				(1,627,296	)
International MidCap Dividend Fund			317,140				3,213,605				(3,530,745	)
International SmallCap Dividend Fund			564,299				(5,495,347	)			4,931,048
Emerging Markets Equity Income Fund			1,209,138				(2,015,245	)			806,107
Emerging Markets SmallCap Dividend Fund			1,591,501				(3,345,486	)			1,753,985
Middle East Dividend Fund			(42,829	)			42,829				—
International Hedged Equity Fund			152,569				(152,569	)			—
International Basic Materials Sector Fund			20,204				(1,356,490	)			1,336,286
International Energy Sector Fund			13,835				(174,705	)			160,870
International Utilities Sector Fund			9,129				3,688,278				(3,697,407	)
International Real Estate Fund			181,600				4,846,638				(5,028,238	)

The differences are primarily due to redemptions-in-kind, currency gain/loss and Passive Foreign Investment Companies (“PFICs”).

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Foreign taxes are provided for based on each Fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued and applied to net investment income, net realized capital gains and net unrealized appreciation, as applicable, as the income is earned or capital gains are recorded. As of and during the fiscal year ended March 31, 2010, the Funds did not have any liabilities for unrecognized tax benefits. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the U.S. Internal Revenue Service, New York, and various states. Generally, each of the tax years in the four year period ended March 31, 2010, remains subject to examination by taxing authorities.

7. OTHER AFFILIATED PARTIES AND TRANSACTIONS

Affiliated holdings are funds which are managed by the Trust or an affiliate of the Trust. Transactions with affiliated companies during the fiscal year ended March 31, 2010 are as follows:

 

Affiliated Fund Name		Value at 3/31/2009			Purchases/ Additions			Sales/ Reductions			Value at 3/31/2010			Dividend Income
DEFA Fund*
Europe Total Dividend Fund		$	—		$	265,303,510		$	301,435,629		$	—		$	7,147,274
Japan Total Dividend Fund			—			49,765,939			53,116,395			—			628,803
Pacific ex-Japan Total Dividend Fund			—			56,357,438			68,479,712			—			1,498,620
Total		$	—		$	371,426,887		$	423,031,736		$	—		$	9,274,697
Global Equity Income Fund*
DEFA Equity Income Fund		$	—		$	21,736,553		$	23,718,037		$	—		$	551,489
Emerging Markets Equity Income Fund			—			4,588,735			5,358,536			—			114,399
Equity Income Fund			—			9,570,281			10,861,568			—			205,765
Total		$	—		$	35,895,569		$	39,938,141		$	—		$	871,653

 

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Notes to Financial Statements (continued)

 

Affiliated Fund Name		Value at 3/31/2009			Purchases/ Additions			Sales/ Reductions			Value at 3/31/2010			Dividend Income
World ex-U.S. Growth Fund
India Earnings Fund		$	—		$	328,051		$	—		$	358,979		$	56
Emerging Markets SmallCap Dividend Fund
India Earnings Fund		$	—		$	2,293,122		$	—		$	2,728,210		$	3,771
International Hedged Equity Fund**
Europe Total Dividend Fund		$	—		$	3,410,817		$	3,225,892		$	—		$	—
Japan Total Dividend Fund			—			557,296			566,799			—			—
Pacific ex-Japan Total Dividend Fund			—			741,350			709,637			—			—
Total		$	—		$	4,709,463		$	4,502,328		$	—		$	—

*

Operated as a Fund of Fund from June 19, 2009 through January 28, 2010.

**

Operated as a Fund of Fund from commencement of investment operation (December 31, 2009) through January 28, 2010.

As of March 31, 2010, the sub-adviser owed to the Middle East Dividend Fund $26,683 in connection with the sub-adviser’s treatment of a rights offering.

8. SUBSEQUENT EVENT

Effective April 1, 2010, the WisdomTree Japan Total Dividend Fund (Ticker Symbol: DXJ) was renamed the WisdomTree Japan Hedged Equity Fund. The Fund continues to be a Japan “total market” Fund, but will now also seek to hedge against fluctuations between the value of the Japanese yen and the U.S. dollar.

In accordance with GAAP provisions, management of the Funds has evaluated the possibility of subsequent events existing in the Funds’ financial statements through the date the financial statements were issued. Management has determined that there are no material events that would require disclosure in the Funds’ financial statements.

 

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Report of Independent Registered Public Accounting Firm

 

The Board of Trustees and Shareholders of WisdomTree Trust:

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of WisdomTree DEFA Fund, WisdomTree DEFA Equity Income Fund, WisdomTree Global Equity Income Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree Japan Total Dividend Fund, WisdomTree World ex-US Growth Fund, WisdomTree Japan SmallCap Dividend Fund, WisdomTree Pacific ex-Japan Total Dividend Fund, WisdomTree Pacific ex-Japan Equity Income Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International Dividend ex-Financials Fund, WisdomTree International MidCap Dividend Fund, WisdomTree International SmallCap Dividend Fund, WisdomTree Emerging Markets Equity Income Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Middle East Dividend Fund, WisdomTree International Hedged Equity Fund, WisdomTree International Basic Materials Sector Fund, WisdomTree International Energy Sector Fund, WisdomTree International Utilities Sector Fund and WisdomTree International Real Estate Fund (twenty-one of the investment funds constituting the WisdomTree Trust (the “Trust”)) as of March 31, 2010, and the related statements of operations, the statements of changes in net assets and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Trust’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Trust’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of March 31, 2010, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of WisdomTree DEFA Fund, WisdomTree DEFA Equity Income Fund, WisdomTree Global Equity Income Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree Japan Total Dividend Fund, WisdomTree World ex-US Growth Fund, WisdomTree Japan SmallCap Dividend Fund, WisdomTree Pacific ex-Japan Total Dividend Fund, WisdomTree Pacific ex-Japan Equity Income Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International Dividend ex-Financials Fund, WisdomTree International MidCap Dividend Fund and WisdomTree International SmallCap Dividend Fund, WisdomTree Emerging Markets Equity Income Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, and WisdomTree Middle East Dividend Fund, WisdomTree International Hedged Equity Fund, WisdomTree International Basic Materials Sector Fund, WisdomTree International Energy Sector Fund, WisdomTree International Utilities Sector Fund and WisdomTree International Real Estate Fund of WisdomTree Trust at March 31, 2010, the results of their operations, the changes in their net assets and the financial highlights for each of the indicated periods, in conformity with U.S. generally accepted accounting principles.

New York, New York

May 26, 2010

 

150		WisdomTree International Dividend and Sector Funds

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Table of Contents

Approval of Investment Advisory and Sub-Advisory Agreement (unaudited)

 

Approval of Investment Advisory Agreement. The Trust and the Investment Adviser have entered into an investment advisory agreement covering each Fund discussed herein. At a meeting held on March 19, 2010, the Board of Trustees re-approved the Investment Advisory Agreement for each Fund. The Board reviewed and analyzed the factors it deemed relevant, including: (i) the nature, quality and extent of the services to be provided to the Funds by WTAM; (ii) the performance of the Funds; (iii) the costs of services to be provided and the profits to be realized by WTAM from its relationship with the Funds; (iv) the extent to which economies of scale would be realized as the Funds grow; (v) whether the fee levels reflect these economies of scale for the benefit of investors; and (vi) the fees charged by the Investment Adviser for non-registered funds.

The Board also considered the nature and quality of the services to be provided by WTAM to the Funds, recognizing WTAM’s operational capabilities and resources. The Board also noted the extensive responsibilities that WTAM has as investment adviser to the Funds, including the selection of the Funds’ Sub-Advisers and oversight of the Sub-Advisers’ compliance with Fund policies and objectives, oversight of general Fund compliance with federal and state laws, and the implementation of Board directives as they relate to the Funds.

The Board gave substantial consideration to the fees payable under the Advisory Agreement. In this connection, the Board evaluated WTAM’s anticipated costs and profitability in serving as investment adviser to the Funds, including the costs associated with the personnel, systems and equipment necessary to manage the Funds and the costs associated with compensating the Sub-Adviser. The Board also examined the fees to be paid by each Fund in light of fees paid to other investment managers by comparable funds and the method of computing each Fund’s fee. After comparing the fees with those of comparable funds and in light of the quality and extent of services to be provided and the costs anticipated to be incurred by WTAM, the Board concluded that the level of the fees paid to WTAM with respect to each Fund is fair and reasonable. The Board also re-approved the Sub-Advisory Agreement between WTAM and Mellon Capital Management (“MCM”), on behalf of each Fund, using essentially the same criteria it used in connection with the Advisory Agreement. The Board considered MCM’s operational capabilities and resources and MCM’s experience in serving as an adviser to ETFs, noting that MCM currently provides investment advisory and management services to other ETFs. The Board considered the investment performance of the Funds, and the expertise and performance of the MCM personnel. The Board also noted that Bank of New York Mellon Corporation, an affiliate of MCM, serves as the Funds’ administrator, accountant, custodian, transfer agent and securities lending agent and receives compensation for acting in these capacities and is responsible for, among other things, coordinating the Funds’ audits, financial statements and tax returns, managing expenses and budgeting for the Funds, processing trades on behalf of each Fund and custodying Fund assets. As such, the Board concluded that the benefits accruing to MCM and its affiliates by virtue of their relationship to the Trust are reasonable and fair in comparison with the anticipated costs of providing the relevant services. The Board noted that WTAM, not the Funds, pays the fees to MCM under the Sub-Advisory Agreement for each Fund.

Based on these considerations and the overall high quality of the personnel, operations, financial condition, investment advisory capabilities, methodologies, and performance of WTAM and MCM, the Board determined that the re-approval of the Advisory Agreements and the Sub-Advisory Agreements was in the best interests of each Fund. After full consideration of these and other factors, the Board, including a majority of the Independent Trustees, with the assistance of independent counsel, approved the Advisory Agreements and Sub-Advisory Agreements.

 

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Table of Contents

Frequency Distribution of Discounts & Premiums (unaudited)

 

The chart below presents information about differences between the per share net asset value (“NAV”) of each Fund and the market trading price of shares of each Fund. For these purposes, the “market price” is the mid-point of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. The term “premium” is sometimes used to describe a market price in excess of NAV and the term “discount” is sometimes used to describe a market price below NAV. The chart presents information about the size and frequency of premiums or discounts. As with other exchange traded funds, the market price of Fund shares is typically slightly higher or lower than the Fund’s per share NAV. Factors that contribute to the differences between market price and NAV include the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Differences between the closing times of U.S. and non-U.S. markets may contribute to differences between the NAV and market price of Fund shares. Many non-U.S. markets close prior to the close of the U.S. securities exchanges. Developments after the close of such markets as a result of ongoing price discovery may be reflected in a Fund’s market price but not in its NAV (or vice versa).

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree DEFA Fund
June 16, 2006 – March 31, 2010		0 – 24.9		129		12.70	%		67		6.60	%
		25 – 49.9		186		18.33	%		57		5.62	%
		50 – 74.9		170		16.75	%		41		4.04	%
		75 – 99.9		94		9.26	%		30		2.96	%
		100 – 124.9		52		5.12	%		24		2.36	%
		125 – 174.9		56		5.52	%		32		3.15	%
		175 – 199.9		10		0.99	%		8		0.79	%
		200 – 249.9		15		1.48	%		9		0.89	%
		>250		18		1.77	%		17		1.67	%
		Total		730		71.92	%		285		28.08	%
WisdomTree DEFA Equity Income Fund
June 16, 2006 – March 31, 2010		0 – 24.9		125		12.32	%		107		10.55	%
		25 – 49.9		144		14.19	%		92		9.06	%
		50 – 74.9		138		13.60	%		48		4.73	%
		75 – 99.9		89		8.77	%		39		3.84	%
		100 – 124.9		41		4.04	%		32		3.15	%
		125 – 174.9		38		3.74	%		36		3.55	%
		175 – 199.9		12		1.18	%		11		1.08	%
		200 – 249.9		13		1.28	%		17		1.67	%
		>250		19		1.87	%		14		1.38	%
		Total		619		60.99	%		396		39.01	%
WisdomTree Global Equity Income Fund
June 16, 2006 – March 31, 2010		0 – 24.9		157		15.48	%		100		9.85	%
		25 – 49.9		173		17.04	%		52		5.12	%
		50 – 74.9		140		13.79	%		43		4.24	%
		75 – 99.9		101		9.95	%		36		3.55	%
		100 – 124.9		58		5.71	%		20		1.97	%
		125 – 174.9		47		4.63	%		22		2.17	%
		175 – 199.9		8		0.79	%		5		0.49	%
		200 – 249.9		12		1.18	%		7		0.69	%
		>250		18		1.77	%		16		1.58	%
		Total		714		70.34	%		301		29.66	%
WisdomTree Europe SmallCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		129		12.72	%		105		10.35	%
		25 – 49.9		112		11.03	%		106		10.44	%
		50 – 74.9		101		9.95	%		68		6.70	%
		75 – 99.9		55		5.42	%		63		6.21	%
		100 – 124.9		29		2.86	%		59		5.81	%
		125 – 174.9		32		3.15	%		67		6.60	%
		175 – 199.9		7		0.69	%		19		1.87	%
		200 – 249.9		12		1.18	%		12		1.18	%
		>250		13		1.28	%		26		2.56	%
		Total		490		48.28	%		525		51.72	%

 

152		WisdomTree International Dividend and Sector Funds

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Table of Contents

Frequency Distribution of Discounts & Premiums (unaudited) (continued)

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree Japan Total Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		99		9.76	%		86		8.48	%
		25 –49.9		101		9.95	%		68		6.70	%
		50 –74.9		100		9.85	%		53		5.22	%
		75 –99.9		85		8.37	%		44		4.33	%
		100 –124.9		51		5.02	%		34		3.35	%
		125 –174.9		60		5.91	%		69		6.80	%
		175 –199.9		23		2.27	%		13		1.28	%
		200 –249.9		22		2.17	%		19		1.87	%
		>250		33		3.25	%		55		5.42	%
		Total		574		56.55	%		441		43.45	%
WisdomTree World ex–U.S. Growth Fund
June 16, 2006 – March 31, 2010		0 – 24.9		102		10.05	%		98		9.65	%
		25 – 49.9		107		10.54	%		66		6.50	%
		50 – 74.9		110		10.84	%		56		5.52	%
		75 – 99.9		82		8.08	%		50		4.93	%
		100 – 124.9		46		4.53	%		34		3.35	%
		125 – 174.9		49		4.83	%		52		5.12	%
		175 – 199.9		12		1.18	%		20		1.97	%
		200 – 249.9		21		2.07	%		30		2.96	%
		>250		34		3.35	%		46		4.53	%
		Total		563		55.47	%		452		44.53	%
WisdomTree Japan SmallCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		107		10.53	%		64		6.31	%
		25 – 49.9		121		11.92	%		75		7.39	%
		50 – 74.9		95		9.36	%		48		4.73	%
		75 – 99.9		80		7.88	%		52		5.12	%
		100 – 124.9		64		6.31	%		32		3.15	%
		125 – 174.9		64		6.31	%		63		6.21	%
		175 – 199.9		16		1.58	%		11		1.08	%
		200 – 249.9		21		2.07	%		31		3.05	%
		>250		35		3.45	%		36		3.55	%
		Total		603		59.41	%		412		40.59	%
WisdomTree Pacific ex-Japan Total Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		106		10.45	%		85		8.38	%
		25 – 49.9		135		13.31	%		72		7.09	%
		50 – 74.9		80		7.88	%		47		4.63	%
		75 – 99.9		80		7.88	%		40		3.94	%
		100 – 124.9		51		5.02	%		34		3.35	%
		125 – 174.9		65		6.40	%		44		4.33	%
		175 – 199.9		21		2.07	%		16		1.58	%
		200 – 249.9		24		2.36	%		32		3.15	%
		>250		30		2.96	%		53		5.22	%
		Total		592		58.33	%		423		41.67	%
WisdomTree Pacific ex–Japan Equity Income Fund
June 16, 2006 – March 31, 2010		0 – 24.9		111		10.94	%		81		7.98	%
		25 – 49.9		114		11.23	%		72		7.09	%
		50 – 74.9		91		8.97	%		46		4.53	%
		75 – 99.9		76		7.49	%		46		4.53	%
		100 – 124.9		49		4.83	%		36		3.55	%
		125 – 174.9		60		5.91	%		53		5.22	%
		175 – 199.9		16		1.58	%		17		1.67	%
		200 – 249.9		26		2.56	%		26		2.56	%
		>250		28		2.76	%		67		6.60	%
		Total		571		56.27	%		444		43.73	%

 

WisdomTree International Dividend and Sector Funds		153

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Table of Contents

Frequency Distribution of Discounts & Premiums (unaudited) (continued)

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree International LargeCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		141		13.88	%		90		8.87	%
		25 – 49.9		183		18.03	%		53		5.22	%
		50 – 74.9		130		12.81	%		43		4.24	%
		75 – 99.9		100		9.85	%		31		3.05	%
		100 – 124.9		52		5.12	%		31		3.05	%
		125 – 174.9		55		5.42	%		28		2.76	%
		175 – 199.9		10		0.99	%		9		0.89	%
		200 – 249.9		14		1.38	%		8		0.79	%
		>250		23		2.27	%		14		1.38	%
		Total		708		69.75	%		307		30.25	%
WisdomTree International Dividend ex-Financials Fund
June 16, 2006 – March 31, 2010		0 – 24.9		127		12.50	%		94		9.26	%
		25 – 49.9		155		15.27	%		73		7.19	%
		50 – 74.9		152		14.98	%		48		4.73	%
		75 – 99.9		66		6.50	%		26		2.56	%
		100 – 124.9		55		5.42	%		36		3.55	%
		125 – 174.9		45		4.43	%		46		4.53	%
		175 – 199.9		15		1.48	%		16		1.58	%
		200 – 249.9		10		0.99	%		10		0.99	%
		>250		15		1.48	%		26		2.56	%
		Total		640		63.05	%		375		36.95	%
WisdomTree International MidCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		129		12.70	%		111		10.93	%
		25 – 49.9		151		14.88	%		97		9.56	%
		50 – 74.9		145		14.29	%		39		3.84	%
		75 – 99.9		55		5.42	%		37		3.65	%
		100 – 124.9		51		5.02	%		30		2.96	%
		125 – 174.9		40		3.94	%		47		4.63	%
		175 – 199.9		15		1.48	%		12		1.18	%
		200 – 249.9		6		0.59	%		13		1.28	%
		>250		16		1.58	%		21		2.07	%
		Total		608		59.90	%		407		40.10	%
WisdomTree International SmallCap Dividend Fund
June 16, 2006 – March 31, 2010		0 – 24.9		115		11.33	%		74		7.29	%
		25 – 49.9		147		14.48	%		68		6.71	%
		50 – 74.9		136		13.40	%		31		3.06	%
		75 – 99.9		108		10.64	%		32		3.15	%
		100 – 124.9		77		7.59	%		27		2.66	%
		125 – 174.9		73		7.19	%		25		2.46	%
		175 – 199.9		20		1.97	%		11		1.08	%
		200 – 249.9		14		1.38	%		19		1.87	%
		>250		24		2.36	%		14		1.38	%
		Total		714		70.34	%		301		29.66	%

 

154		WisdomTree International Dividend and Sector Funds

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Table of Contents

Frequency Distribution of Discounts & Premiums (unaudited) (continued)

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree Emerging Markets Equity Income Fund
July 13, 2007 – March 31, 2010		0 – 24.9		53		7.10	%		54		7.24	%
		25 – 49.9		55		7.37	%		32		4.29	%
		50 – 74.9		84		11.26	%		18		2.41	%
		75 – 99.9		74		9.92	%		27		3.62	%
		100 – 124.9		64		8.58	%		21		2.82	%
		125 – 174.9		98		13.14	%		24		3.22	%
		175 – 199.9		32		4.29	%		11		1.47	%
		200 – 249.9		27		3.62	%		10		1.34	%
		>250		37		4.96	%		25		3.35	%
		Total		524		70.24	%		222		29.76	%
WisdomTree Emerging Markets SmallCap Dividend Fund
October 30, 2007 – March 31, 2010		0 – 24.9		58		8.66	%		41		6.11	%
		25 – 49.9		59		8.81	%		24		3.58	%
		50 – 74.9		64		9.55	%		30		4.48	%
		75 – 99.9		52		7.76	%		21		3.13	%
		100 – 124.9		58		8.66	%		25		3.73	%
		125 – 174.9		74		11.04	%		19		2.84	%
		175 – 199.9		27		4.03	%		6		0.90	%
		200 – 249.9		35		5.22	%		11		1.64	%
		>250		46		6.87	%		20		2.99	%
		Total		473		70.60	%		197		29.40	%
WisdomTree Middle East Dividend Fund
July 16, 2008 – March 31, 2010		0 – 24.9		14		2.85	%		12		2.44	%
		25 – 49.9		35		7.11	%		15		3.04	%
		50 – 74.9		29		5.89	%		8		1.63	%
		75 – 99.9		29		5.89	%		6		1.22	%
		100 – 124.9		37		7.52	%		3		0.61	%
		125 – 174.9		64		13.01	%		11		2.24	%
		175 – 199.9		30		6.10	%		1		0.20	%
		200 – 249.9		52		10.57	%		8		1.63	%
		>250		123		25.00	%		15		3.05	%
		Total		413		83.94	%		79		16.06	%
WisdomTree International Hedged Equity Income Fund
June 16, 2006 – March 31, 2010		0 – 24.9		8		12.90	%		2		3.23	%
		25 – 49.9		10		16.13	%		0		0.00	%
		50 – 74.9		13		20.97	%		1		1.61	%
		75 – 99.9		13		20.97	%		2		3.23	%
		100 – 124.9		8		12.90	%		0		0.00	%
		125 – 174.9		3		4.84	%		1		1.61	%
		175 – 199.9		0		0.00	%		0		0.00	%
		200 – 249.9		0		0.00	%		0		0.00	%
		>250		1		1.61	%		0		0.00	%
		Total		56		90.32	%		6		9.68	%

 

WisdomTree International Dividend and Sector Funds		155

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Table of Contents

Frequency Distribution of Discounts & Premiums (unaudited) (concluded)

 

				Market Price Above or Equal to Net Asset Value					Market Price Below Net Asset Value
		Basis Point Differential*		Number of Days		Percentage of Total Days			Number of Days		Percentage of Total Days
WisdomTree International Basic Materials Sector Fund
October 13, 2006 – March 31, 2010		0 – 24.9		112		12.02	%		100		10.73	%
		25 – 49.9		113		12.12	%		64		6.87	%
		50 – 74.9		124		13.31	%		52		5.58	%
		75 – 99.9		78		8.37	%		33		3.54	%
		100 – 124.9		55		5.90	%		25		2.68	%
		125 – 174.9		43		4.61	%		41		4.40	%
		175 – 199.9		13		1.39	%		12		1.29	%
		200 – 249.9		11		1.18	%		15		1.61	%
		>250		20		2.15	%		21		2.25	%
		Total		569		61.05	%		363		38.95	%
WisdomTree International Energy Sector Fund
October 13, 2006 – March 31, 2010		0 – 24.9		81		8.68	%		76		8.15	%
		25 – 49.9		97		10.41	%		69		7.40	%
		50 – 74.9		90		9.66	%		51		5.47	%
		75 – 99.9		85		9.12	%		29		3.11	%
		100 – 124.9		83		8.91	%		31		3.33	%
		125 – 174.9		71		7.62	%		47		5.04	%
		175 – 199.9		16		1.72	%		15		1.61	%
		200 – 249.9		22		2.36	%		9		0.97	%
		>250		26		2.79	%		34		3.65	%
		Total		571		61.27	%		361		38.73	%
WisdomTree International Utilities Sector Fund
October 13, 2006 – March 31, 2010		0 – 24.9		81		8.69	%		71		7.62	%
		25 – 49.9		124		13.30	%		48		5.15	%
		50 – 74.9		123		13.20	%		53		5.69	%
		75 – 99.9		104		11.16	%		48		5.15	%
		100 – 124.9		55		5.90	%		30		3.22	%
		125 – 174.9		48		5.15	%		51		5.47	%
		175 – 199.9		17		1.82	%		12		1.29	%
		200 – 249.9		11		1.18	%		11		1.18	%
		>250		16		1.72	%		29		3.11	%
		Total		579		62.12	%		353		37.88	%
WisdomTree International Real Estate Fund
June 5, 2007 – March 31, 2010		0 – 24.9		81		10.48	%		62		8.02	%
		25 – 49.9		98		12.68	%		47		6.08	%
		50 – 74.9		83		10.74	%		26		3.36	%
		75 – 99.9		58		7.50	%		28		3.62	%
		100 – 124.9		48		6.21	%		31		4.01	%
		125 – 174.9		57		7.37	%		31		4.01	%
		175 – 199.9		22		2.85	%		21		2.72	%
		200 – 249.9		16		2.07	%		11		1.42	%
		>250		22		2.85	%		31		4.01	%
		Total		485		62.75	%		288		37.25	%

*	Basis point (bps), is a unit that is equal to 1/100th of 1%.

 

156		WisdomTree International Dividend and Sector Funds

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Trustee and Officer Information (unaudited)

 

The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by WisdomTree Asset Management and other service providers. The Board of Trustees elects the officers of the Trust who are responsible for administering the Trust’s day-to-day operations. Each Trustee serves until his or her successor is duly elected or appointed and qualified.

The address of each Trustee and Officer is c/o WisdomTree Asset Management, Inc., 380 Madison Avenue, 21st Floor, New York, NY 10017.

Interested Trustee and Officers

 

Name (year of birth)		Position		Term of Office and Length of Time Served		Principal Occupation(s) During the Past 5 Years		Number of Portfolios in Fund Complex Overseen  by Trustee/Officer†		Other Directorships Held by Trustee/Officer
Jonathan Steinberg (1964)		Trustee, President*		Trustee and Officer since 2005		President, WisdomTree Trust since 2005; Chief Executive Officer of WisdomTree Investments, Inc. and Director of WisdomTree Investments, Inc. since 1989.		42		None.
Amit Muni (1969)		Treasurer,* Assistant Secretary*		Officer since 2008		Chief Financial Officer and Assistant Secretary of WisdomTree Investments, Inc. since March 2008; International Securities Exchange Holdings, Inc. (ISE), Controller and Chief Accounting Officer from 2003 to 2008.		42		None.
Richard Morris (1967)		Secretary,* Chief Legal Officer*		Officer since 2005		General Counsel of WisdomTree Asset Management since 2009; Deputy Counsel of WisdomTree Investments, Inc. since 2005; Senior Counsel at Barclays Global Investors, N.A. from 2002 to 2005.		42		None.

 

†	As of March 31, 2010.

 

*	Elected by and serves at the pleasure of the Board of Trustees.

 

WisdomTree International Dividend and Sector Funds		157

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Trustee and Officer Information (unaudited) (concluded)

 

Independent Trustees

 

Name (year of birth)		Position		Term of Office and Length of Time Served		Principal Occupation(s) During the Past 5 Years		Number of Portfolios in Fund Complex Overseen by Trustee†		Other Directorships Held by Trustee
Gregory Barton (1961)*		Trustee		Trustee since 2006		Executive Vice President of Business and Legal Affairs, General Counsel and Secretary of TheStreet.com, 2009 to present; General Counsel of Martha Stewart Living Omnimedia, Inc. from 2007 to 2008; Executive Vice President of Licensing and Legal Affairs, General Counsel and Secretary of Ziff Davis Media Inc. from 2004 to 2007; Executive Vice President of Legal Affairs, General Counsel and Secretary of Ziff Davis Media Inc. from 2002 to 2004; President from 2001 to 2002, Chief Financial Officer from 2000 to 2002, Vice President of Business Development from 1999 to 2001 and General Counsel and Secretary from 1998 to 2002 of WisdomTree Investments, Inc.		42		None.
Toni Massaro (1955)**		Trustee		Trustee since 2006		Dean Emerita at University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009; Dean at the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.		42		None.
Victor Ugolyn (1947)		Trustee, Chairman of the Board of Trustees		Trustee since 2006		Private Investor - 2005 to Present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds 1991 to 2004.		42		Trustee on Board of Trustees of Naismith Memorial Basketball Hall of Fame; Member of the Board of Overseers of Stanford University’s Hoover Institution.

 

†	As of March 31, 2010.

 

*	Chair of the Audit Committee.

 

**	Chair of the Governance and Nominating Committee.

 

158		WisdomTree International Dividend and Sector Funds

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Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds fiscal year ended March 31, 2010, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2011.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2010, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

Fund		Qualified Dividend Income
DEFA Fund		$	18,295,047
DEFA Equity Income Fund			4,793,856
Global Equity Income Fund			1,569,758
Europe SmallCap Dividend Fund			830,043
Japan Total Dividend Fund			1,035,137
World ex-U.S. Growth Fund			740,941
Japan SmallCap Dividend Fund			1,692,141
Pacific ex-Japan Total Dividend Fund			2,472,271
Pacific ex-Japan Equity Income Fund			3,363,413
International LargeCap Dividend Fund			4,074,318
International Dividend ex-Financials Fund			4,766,835
International MidCap Dividend Fund			3,717,184
International SmallCap Dividend Fund			10,204,715
Emerging Markets Equity Income Fund			7,865,835
Emerging Markets SmallCap Dividend Fund			3,606,327
Middle East Dividend Fund			409,314
International Hedged Equity Fund			7,674
International Basic Materials Sector Fund			589,583
International Energy Sector Fund			954,464
International Utilities Sector Fund			1,374,550
International Real Estate Fund			1,643,450

The Funds intend to elect to pass through to shareholders the credit for taxes paid during the fiscal year ended March 31, 2010 to foreign countries. The gross foreign source income and foreign taxes paid are as follows:

 

Fund		Gross Foreign Income			Foreign Taxes Paid
DEFA Fund		$	8,033,479		$	750,293
DEFA Equity Income Fund			4,274,631			267,193
Global Equity Income Fund			573,065			62,821
Europe SmallCap Dividend Fund			824,681			57,366
Japan Total Dividend Fund			1,339,615			100,822
World ex-U.S. Growth Fund			641,601			19,699
Japan SmallCap Dividend Fund			2,278,261			171,394
Pacific ex-Japan Total Dividend Fund			3,592,365			60,742
Pacific ex-Japan Equity Income Fund			3,550,329			58,551
International LargeCap Dividend Fund			3,485,285			242,302
International Dividend ex-Financials Fund			4,230,438			304,865
International MidCap Dividend Fund			3,408,014			284,988
International SmallCap Dividend Fund			11,214,314			758,314
Emerging Markets Equity Income Fund			13,506,260			1,757,175
Emerging Markets SmallCap Dividend Fund			6,124,382			951,127
Middle East Dividend Fund			449,773			10,675
International Hedged Equity Fund			46,127			4,562

 

WisdomTree International Dividend and Sector Funds		159

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Supplemental Information (unaudited) (concluded)

 

Fund		Gross Foreign Income			Foreign Taxes Paid
International Basic Materials Sector Fund		$	593,281		$	30,576
International Energy Sector Fund			803,943			50,016
International Utilities Sector Fund			1,226,855			242,115
International Real Estate Fund			2,917,504			204,970

 

160		WisdomTree International Dividend and Sector Funds

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General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained by calling 866-909-9473; or writing to: WisdomTree Trust, c/o ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the Securities and Exchange Commission (“SEC”) no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 866-909-9473 or through the Trust’s website at www.wisdomtree.com. The Funds’ Form N-PX is also available on the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds are required to file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters on Form N-Q. Copies of the filings are available, without charge, upon request on the SEC’s website at www.sec.gov, and are also available by calling the Trust at 1-866-909-WISE. You can also obtain copies of Form N-Q by (i) visiting the SEC’s Public Reference Room in Washington, DC (information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330), (ii) sending your request and a duplicating fee to the SEC’s Public Reference Room, Washington, DC 20549-0102 or (iii) sending your request electronically to publicinfosec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com.

The Fund’s Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

 

WisdomTree International Dividend and Sector Funds		161

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The WisdomTree Family of Funds

 

The following is a list of WisdomTree Funds being offered, along with their respective ticker symbols as of March 31, 2010:

 

WisdomTree Domestic Dividend Funds   WisdomTree Total Dividend Fund (DTD)   WisdomTree Equity Income Fund (DHS)   WisdomTree LargeCap Dividend Fund (DLN)   WisdomTree Dividend ex-Financials Fund (DTN)   WisdomTree MidCap Dividend Fund (DON)   WisdomTree SmallCap Dividend Fund (DES)   WisdomTree International Dividend Funds   WisdomTree DEFA Fund (DWM)   WisdomTree DEFA Equity Income Fund (DTH)   WisdomTree Global Equity Income Fund (DEW)   WisdomTree Europe SmallCap Dividend Fund (DFE)   WisdomTree Japan Total Dividend Fund (DXJ)   WisdomTree World ex-U.S. Growth Fund (DNL)   WisdomTree Japan SmallCap Dividend Fund (DFJ)   WisdomTree Pacific ex-Japan Total Dividend Fund (DND)   WisdomTree Pacific ex-Japan Equity Income Fund (DNH)   WisdomTree International LargeCap Dividend Fund (DOL)   WisdomTree International Dividend ex-Financials Fund (DOO)   WisdomTree International MidCap Dividend Fund (DIM)   WisdomTree International SmallCap Dividend Fund (DLS)   WisdomTree Emerging Markets Equity Income Fund (DEM)   WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)   WisdomTree Middle East Dividend Fund (GULF)   WisdomTree International Hedged Equity Fund (HEDJ)		WisdomTree International Dividend Sector Funds   WisdomTree International Basic Materials Sector Fund (DBN)   WisdomTree International Energy Sector Fund (DKA)   WisdomTree International Utilities Sector Fund (DBU)   WisdomTree International Real Estate Fund (DRW)   WisdomTree Domestic and International Earnings Funds   WisdomTree Total Earnings Fund (EXT)   WisdomTree Earnings 500 Fund (EPS)   WisdomTree MidCap Earnings Fund (EZM)   WisdomTree SmallCap Earnings Fund (EES)   WisdomTree LargeCap Value Fund (EZY)   WisdomTree LargeCap Growth Fund (ROI)   WisdomTree India Earnings Fund (EPI)   WisdomTree Currency Income Funds   WisdomTree Dreyfus Brazilian Real Fund (BZF)   WisdomTree Dreyfus Chinese Yuan Fund (CYB)   WisdomTree Dreyfus Emerging Currency Fund (CEW)   WisdomTree Dreyfus Euro Fund (EU)   WisdomTree Dreyfus Indian Rupee Fund (ICN)   WisdomTree Dreyfus Japanese Yen Fund (JYF)   WisdomTree Dreyfus New Zealand Dollar Fund (BNZ)   WisdomTree Dreyfus South African Rand Fund (SZR)

The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission (“SEC”) as series of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree investments, Inc., serves as the investment adviser to the WisdomTree Trust. None of the WisdomTree entities are affiliated with ALPS Distributors, Inc., the Funds’ distributor. WisdomTree Investments, its affiliates and their independent providers are not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other information, is available at www.wisdomtree.com, or by calling 1-866-909-WISE (9473). Investors should read the prospectus carefully before investing. There are risks associated with investing, including possible loss of principal. Past performance does not guarantee future results. Indexes are unmanaged and you can not invest directly in an index.

There are risks associated with investing including possible loss of principal. In addition to the normal risks of investing, foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country increase the impact of events and developments associated with the region which can adversely affect performance. Funds focusing on a single country, sector and/or smaller companies generally experience greater price volatility. Investments in emerging frontier markets are generally less liquid and less efficient than developed markets. Investments in currency involve additional special risks, such as credit risk, interest rate fluctuations, derivative investment risk and the effect of varied economic conditions. Derivatives can be volatile and may be less liquid than other securities. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting issuers. Unlike typical exchange-traded funds, there are no indexes that the currency funds attempt to track or replicate. Thus, the ability of the currency Funds to achieve their objectives will depend on the effectiveness of the portfolio manager. Please read the Funds’ prospectus for specific details regarding each Fund’s risk profile. Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only in large amounts of 50,000 shares or more.

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380 Madison Avenue, 21st Floor

New York, NY 10017

1.866.909.WISE (9473)

www.wisdomtree.com

 

WisdomTree International Dividend and Sector ETFs

WisdomTree DEFA Fund

WisdomTree DEFA Equity Income Fund

WisdomTree Global Equity Income Fund

WisdomTree Europe SmallCap Dividend Fund

WisdomTree Japan Total Dividend Fund

WisdomTree World ex-U.S. Growth Fund

WisdomTree Japan SmallCap Dividend Fund

WisdomTree Pacific ex-Japan Total Dividend Fund

WisdomTree Pacific ex-Japan Equity Income Fund

WisdomTree International LargeCap Dividend Fund

WisdomTree International Dividend ex-Financials Fund

WisdomTree International MidCap Dividend Fund

WisdomTree International SmallCap Dividend Fund

WisdomTree Emerging Markets Equity Income Fund

WisdomTree Emerging Markets SmallCap Dividend Fund

WisdomTree Middle East Dividend Fund

WisdomTree International Hedged Equity Fund

WisdomTree International Basic Materials Sector Fund

WisdomTree International Energy Sector Fund

WisdomTree International Utilities Sector Fund

WisdomTree International Real Estate Fund

WisdomTree Fund shares are distributed by ALPS Distributors, Inc.

WIS002528 (05/2011)

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Item 2.

Code of Ethics.

The Registrant has adopted a code of ethics (the “Code of Ethics”) that applies to persons appointed by the Registrant’s Board of Trustees as the President and Chief Executive Officer, Chief Financial Officer, Treasurer and/or Chief Accounting Officer, and any persons performing similar functions. For the fiscal year ended March 31, 2010, there were no amendments to any provision of the Code of Ethics. A copy of this code is filed with this Form N-CSR under Item 12(a) (1).

(b) Not applicable.

(c) The Trust has not amended its Code of Ethics during the period covered by the shareholder report presented in Item 1 hereto.

(d) The Trust has not granted a waiver or an implicit waiver from a provision of its Code of Ethics.

(e) Not applicable.

(f) The Trust’s Code of Ethics is attached hereto as an exhibit.

 

Item 3.

Audit Committee Financial Expert.

The Registrant’s Board of Trustees has determined that the Registrant has one audit committee financial expert, as that term is defined under Item 3(b) and 3(c), serving on its audit committee. The audit committee financial expert serving on the Registrant’s audit committee is Greg Barton, who is an independent Trustee of the Trust, as that term is defined under Item 3(a) (2).

 

Item 4.

Principal Accountant Fees and Services.

The principal accountant fees disclosed in item 4(a), 4(b), 4(c), 4(d) and 4(g) are for the forty-two funds of the Registrant for which the fiscal year-end is March 31, 2010 and whose annual financial statements are reported in Item 1.

(a) Audit Fees. The aggregate fees billed from the Trust’s fiscal year ended March 31, 2010 for professional services rendered by the principal accountant for the audit of the Trust’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements are as follows:

2010: $664,511

2009: $857,500

(b) Audit-Related Fees. The aggregate fees billed from the Trust’s fiscal year ended March 31, 2010 for professional services rendered for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the Trust’s financial statements and are not reported above in Item 4(a) are as follows:

2010: $0

2009: $0

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(c) Tax Fees. The aggregate fees billed from the Trust’s fiscal year ended March 31, 2010 for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning are as follows:

2010: $358,000

2009: $323,598

(d) All Other Fees. The aggregate fees billed from the Trust’s fiscal year ended March 31, 2010 for products and services provided by the principal accountant, other than the services reported above in Items 4(a) through (c) are as follows:

2010: $154,720

2009: $123,090

(e) Audit Committee Pre-Approval Policies and Procedures.

(i) Per Rule 2-01(c) (7) (A), the Registrant’s audit committee charter provides that the audit committee shall select and approve in advance the retention of independent accountants to annually audit and provide their opinion on the Registrant’s financial statements. The audit committee must also approve prior to appointment the engagement of the principal accountant to provide other audit services to the Registrant or to provide non-audit services to the Registrant, its investment adviser, or any entity controlling, controlled by, or under common control with its investment adviser (“adviser/affiliate”) that provides ongoing services to the Registrant, if the engagement by the investment adviser or adviser affiliate relates directly to the operations and financial reporting of the Registrant. The audit committee must also, prior to appointment of the engagement of the principal accountant, review and approve the fees proposed to be charged to the Registrant by the auditors for each audit and non-audit service. The audit committee must also consider whether non-audit services provided by the Registrant’s principal accountant to the Registrant’s investment adviser, or adviser/affiliate that provides ongoing services to the Trust are compatible with maintaining the auditor’s independence.

(ii) The Registrant’s Audit Committee has approved 100% of services described in each of Items 4(b) through (d) pursuant to paragraph (c) (7) (A) of Rule 2-01 of Regulation S-X.

(f) The percentage of hours expended on the principal accountant’s engagement to audit the Trust’s financial statements for the most recent fiscal year attributable to work performed by persons other than the principal accountant’s full-time, permanent employees was 0%.

(g) The aggregate non-audit fees billed by the Trust’s accountant for services rendered to the Trust, the Advisor or any entity controlling, controlled by, or under common control with the Advisor that provides ongoing services to the Trust (except for any sub-advisor whose role is primarily portfolio management and is sub-contracted with or overseen by another investment advisor) that for the fiscal year ended March 31, 2010 are as follows:

2010: $512,720

2009: $446,688

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(h) Not applicable.

 

Item 5.

Audit Committee of Listed Registrants.

The Registrant is an issuer as defined in Rule 10A-3 under the Exchange Act and has a separately-designated standing audit committee established in accordance with Section 3(a) (58)A of the Exchange Act. The Registrant’s audit committee members are Greg Barton, Toni Massaro and Victor Ugolyn.

 

Item 6.

Schedule of Investments.

The schedule is included as part of the report to shareholders filed under Item 1 of this form.

 

Item 7.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

 

Item 8.

Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

 

Item 9.

Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

 

Item 10.

Submission of Matters to a Vote of Security Holders.

Not applicable.

 

Item 11.

Controls and Procedures.

(a) Based on their evaluation of the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) as of a date within 90 days prior to the filing date of this report, the President and Treasurer of the Registrant have concluded that such disclosure controls and procedures are reasonably designed and effective to ensure that material information relating to the Registrant, is made known to them by others within those entities.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30 a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s second fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

Item 12.

Exhibits.

 

(a)(1)		Code of Ethics for Senior Officers that is the subject of Item 2 is attached.
(a)(2)		Certification of each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as a part of EX-99.CERT.

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(a)(3)		Not applicable.
(b)		Certification of each principal executive officer and principal financial officer of the Registrant as required by Section 906 of the Sarbanes-Oxley Act of 2002 is attached hereto as a part of EX-99.906CERT.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

WisdomTree Trust

 

By:		/s/    JONATHAN L. STEINBERG
Name:		Jonathan L. Steinberg
Title:		President
Date:		June 8, 2010
By:		/s/    AMIT MUNI
Name:		Amit Muni
Title:		Treasurer
Date:		June 8, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

By:		/s/    JONATHAN L. STEINBERG
Name:		Jonathan L. Steinberg
Title:		President
Date:		June 8, 2010
By:		/s/    AMIT MUNI
Name:		Amit Muni
Title:		Treasurer
Date:		June 8, 2010