At a glance
DDWM charges 0.4% a year, above the 0.12% average of the 8 funds most like it (the most expensive of 9). It has $1.45B in assets, the 9th largest of that group; it paid 2.57% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +10.5% with distributions reinvested (S&P 500: +11.5%), the weakest of those 9 funds; over three years it returned +19.6% a year. At its worst it fell 34.2% in the 2020 crash (S&P 500: 33.7%) and 14.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 3 months after the lows. Its ten largest positions make up 11.2% of the fund, out of 1,461 in all.
The short version
WisdomTree Dynamic International Equity Fund (DDWM) is an index ETF that holds about 1,460 dividend-paying stocks from developed markets outside the US and Canada. Stocks are weighted by the cash dividends they pay. Its main difference from similar funds is a currency hedge that resets each month between 0% and 100%, aiming to soften losses when foreign currencies fall against the dollar. Its 0.40% annual expense ratio is well above the 0.12% average of similar funds.
Price history
The interactive chart needs JavaScript.
DDWM +10.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| DDWM official prospectus, to Dec 31, 2025 | — | +30.10% | — | +13.41% | +10.12% | — |
| Wisdom Tree Dynamic International Equity Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +30.44% | — | +13.66% | +10.33% | — |
| MSCI EAFE Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +31.22% | — | +8.92% | +8.80% | — |
| MSCI EAFE Value Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +42.25% | — | +13.36% | +9.34% | — |
| DDWM price data to Oct 27, 2026 | +7.6% | +10.5% | +19.6% | +12.5% | +9.9% | +10.4% |
- Over the year to Oct 27, 2026, DDWM returned +10.5%, 9th of 9 among similar funds.
- Its 5-year annualized return was +12.5% and its 10-year +9.9%.
- In the 2020 COVID crash it fell 34.2% and regained its old high 11.8 months after the low.
- Its worst full calendar year was 2018 (-11.7%); its best was 2025 (+30.1%).
- The deepest fall in its price history was 35% (Jan 17, 2020 to Mar 16, 2020), recovered by Mar 17, 2021.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +7.7% | — |
| 2025 | +30.1% | +30.10% |
| 2024 | +10.7% | +10.65% |
| 2023 | +15.3% | +15.44% |
| 2022 | -0.8% | -1.27% |
| 2021 | +14.8% | +14.33% |
| 2020 | -4.6% | -4.20% |
| 2019 | +21.5% | +21.03% |
| 2018 | -11.7% | -11.05% |
| 2017 | +18.8% | +18.52% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 32.2% over that stretch · deepest drop along the way 34.2%, back to its old high 11.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.9% over that stretch · deepest drop along the way 14.8%, back to its old high 3.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.9900 | |
| 2025 | $1.0900 | -12.1% |
| 2024 | $1.2400 | -14.5% |
| 2023 | $1.4500 | +16.0% |
| 2022 | $1.2500 | +8.7% |
| 2021 | $1.1500 | +17.3% |
| 2020 | $0.9800 | -11.7% |
| 2019 | $1.1100 | -2.6% |
| 2018 | $1.1400 | +39.0% |
| 2017 | $0.8200 |
What's inside
As of Jun 30, 2026, the fund held 1,461 securities; the ten largest made up 11.17% of assets.
| Holding | Weight | |
|---|---|---|
| HSBC HOLDINGS PLC | 1.67% | |
| NOVARTIS AG | 1.20% | |
| NESTLE' SA/AG | 1.18% | |
| INTESA SANPAOLO SPA | 1.14% | |
| ASML HOLDING NV | 1.11% | |
| ROCHE HOLDING AG Preferred stock | 1.06% | |
| TOYOTA MOTOR CORP | 0.97% | |
| SHELL PLC | 0.96% | |
| BRITISH AMERICAN TOBACCO PLC | 0.94% | |
| BANCO BILBAO VIZCAYA ARGENTARIA SA | 0.93% | |
| AXA SA | 0.87% | |
| BHP GROUP LTD | 0.85% | |
| BNP PARIBAS SA | 0.85% | |
| INDUSTRIA DE DISENO TEXTIL SA | 0.81% | |
| UNICREDIT SPA | 0.76% |
By country
Japan 25.02%United Kingdom 12.65%France 8.89%Switzerland 8.13%Spain 6.34%By asset type
Stocks 97.72%Preferred stock 1.19%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $105.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.14%, +3.06%, -0.25%.
How it works
DDWM tracks the WisdomTree Dynamic International Equity Index, which was designed by WisdomTree, the parent company of the fund's adviser. Once a year, the index screens for companies based in Europe, Japan, Australia, Hong Kong, Israel or Singapore. Each must have paid at least $5 million in cash dividends over the prior year, be worth at least $100 million and trade often enough. Each stock's weight depends on the total dollars of dividends it pays, so the largest payers get the largest weights. No single country or sector is set above 25%, or 15% for real estate, but weights can drift past those caps.
The fund doesn't have to own every stock in the index. It uses representative sampling, which means holding a set of stocks that should behave like the full index. As of June 30, 2026, it held 1,461 stocks. The largest were HSBC (1.7%), Novartis (1.2%), Nestlé (1.2%), Intesa Sanpaolo (1.1%) and ASML (1.1%). Japan made up 25% of the fund and the UK about 13%.
The unusual part is the currency hedge. The fund uses forward contracts, which are agreements to exchange currencies at a set rate on a future date, to offset changes in foreign currencies against the dollar. Each month the index sets how much of each currency to hedge, anywhere from 0% to 100%. It decides using four signals: recent currency momentum, interest rate gaps, volatility and the broad trend in the dollar. The prospectus warns that the hedge may not work as intended.
What it really costs
- DDWM charges 0.4% a year, versus an average of 0.12% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $41 in the first year and $505 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DDWM | $41 | $128 | $224 | $505 |
In a retirement portfolio
It adds dividend-paying stocks from developed markets outside the US and manages currency swings by rule, which can broaden a portfolio built mostly on US shares.
DDWM spreads money across about 1,460 non-US companies, with Japan and the UK the largest markets. Its declines have been sharp at times. Its deepest drop was 35%, from January 17 to March 16, 2020, and it took about 12 months to recover. In the 2022 bear market it fell 14.8% and recovered in about 3.4 months. Its worst calendar year was 2018, at -11.05%. The fund launched in 2016, so it has no record from 2008. Anyone who had to sell shares in early 2020 would have locked in heavy losses. The trailing 12-month yield was 2.57% as of October 27, 2026, paid quarterly. Under the SEC's standard example, costs on $10,000 come to $41 after one year and $505 after ten. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want non-US developed-market stocks tilted toward big dividend payers like HSBC, Novartis and Nestlé, with dividends paid quarterly.
- People who want currency risk handled by a fixed rule, with hedges reset monthly between 0% and 100% instead of always on or always off.
- Those willing to pay 0.40% for an approach that beat the MSCI EAFE Index over five and ten years through December 31, 2025.
Look elsewhere if
- Cost-focused investors: VEA and SPDW charge 0.03%, while DDWM's 0.40% is the highest of the nine similar funds compared.
- Investors who want full exposure to foreign currencies, since hedged positions give up gains when those currencies rise against the dollar.
- Anyone who wants emerging markets or Canada, since the index covers only Europe, Japan, Australia, Hong Kong, Israel and Singapore.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DDWM this fund | — | 0.4% | $1.45B | +10.5% | +19.6% |
| EFA iShares MSCI EAFE ETF · different strategy | 60% | 0.32% | $77.98B | +13.5% | +18.2% |
| IEFA iShares Core MSCI EAFE ETF · different strategy | 55% | 0.07% | $190.11B | +13.7% | +18.5% |
| IDEV iShares Core MSCI International Developed M… · different strategy | 51% | 0.04% | $31.64B | +14.6% | +19.2% |
| SCHF Schwab International Equity ETF · different strategy | 49% | 0.06% | $69.68B | +17.7% | +20.4% |
| SPDW SPDR Portfolio Developed World ex-US ETF · different strategy | 47% | 0.03% | $40.29B | +17.3% | +20.5% |
| VEA Vanguard FTSE Developed Markets ETF · different strategy | 46% | 0.03% | $316.42B | +16.8% | +21.7% |
| EFV iShares MSCI EAFE Value ETF · different strategy | 45% | 0.33% | $29.11B | +21.9% | +23.3% |
Questions investors ask
Is DDWM currency hedged?
Partly. The amount changes over time. Each month, the fund's index sets a hedge ratio from 0% to 100% for each foreign currency, such as the yen, euro and pound. It decides using four signals: momentum, interest rate gaps, volatility and the broad trend in the dollar. The aim is to limit losses when foreign currencies weaken and keep gains when they strengthen. As of June 30, 2026, the fund held 81 currency contracts. The prospectus warns that the hedge may not work as intended.
Does DDWM pay monthly dividends?
No. DDWM pays dividends quarterly. Its trailing 12-month yield was 2.57% as of October 27, 2026, or about $1.18 per share. The index only includes companies that paid at least $5 million in cash dividends over the prior year, and it gives bigger weights to companies that pay more. Payouts can change, because the prospectus notes that companies may cut or change their dividends.
What's the difference between DDWM and EFA?
Both hold developed-market stocks outside the US, and about 60% of their holdings overlap. However, EFA tracks the MSCI EAFE Index and follows a different strategy from DDWM's dividend weighting and monthly currency hedge. EFA charges 0.32% a year, compared with DDWM's 0.40%. EFA returned 13.5% over one year as of October 29, 2026, compared with DDWM's 10.5% as of October 27. Over ten years through December 31, 2025, DDWM averaged 10.12% a year, while the MSCI EAFE Index averaged 8.8%.
How much did DDWM drop in the 2020 crash?
DDWM fell 34.2% between February 19 and March 16, 2020. Its worst quarter was the first quarter of 2020, when it lost 23.77%. Measured from its January 17, 2020 high, the drop reached 35%, and the fund took about 12 months to recover, regaining its peak on March 17, 2021. In the 2022 bear market the decline was smaller: it fell 14.8% and recovered in about 3.4 months.
What is DDWM's expense ratio?
DDWM's expense ratio is 0.40% a year, according to the prospectus filed October 28, 2026. That is well above the 0.12% average of similar funds, and it ranks as the most expensive of the nine compared. Broad funds like VEA and SPDW charge 0.03%, and IEFA charges 0.07%. Under the SEC's standard example, $10,000 that earns 5% a year would cost $41 after one year, $224 after five years and $505 after ten years.