At a glance
QSML charges 0.38% a year, above the 0.21% average of the 8 funds most like it (the 8th cheapest of 9). It has $11.6M in assets, the 9th largest of that group; it paid 0.53% of its price in distributions over the past 12 months, annual. Over the past year it returned +19.6% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds. Its ten largest positions make up 6.8% of the fund, out of 376 in all.
The short version
WisdomTree U.S. SmallCap Quality Growth Fund (QSML) tracks the WisdomTree U.S. SmallCap Quality Growth Index, which picks small U.S. companies that score well on growth and profitability; it held 376 stocks as of June 30, 2026. It may suit investors wanting small-company growth stocks filtered for profitability. The trade-offs are cost and size: its 0.38% expense ratio is above the 0.21% average of similar funds, and it had $11.6 million in net assets at that date.
Price history
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QSML +19.6% 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 | |
|---|---|---|---|---|---|---|
| QSML official prospectus, to Dec 31, 2025 | — | +5.60% | — | — | — | +8.51% |
| Index 29 index, same period | — | +6.01% | — | — | — | +8.93% |
| Index 30 index, same period | — | +5.37% | — | — | — | +8.81% |
| Index 31 index, same period | — | +6.02% | — | — | — | +9.27% |
| QSML price data to Oct 27, 2026 | +19.0% | +19.6% | — | — | — | +12.6% |
- Over the year to Oct 27, 2026, QSML returned +19.6%, 1st of 9 among similar funds.
- Its worst full calendar year was 2025 (+5.5%); its best was 2025 (+5.5%).
- The deepest fall in its price history was 28.5% (Nov 25, 2024 to Apr 8, 2025), recovered by Dec 11, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +19.0% | — |
| 2025 | +5.5% | +5.60% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.1800 |
What's inside
As of Jun 30, 2026, the fund held 376 securities; the ten largest made up 6.75% of assets.
| Holding | Weight | |
|---|---|---|
| ACM RESEARCH INC | 0.78% | |
| TG THERAPEUTICS INC | 0.77% | |
| ACUSHNET HOLDINGS CORP | 0.69% | |
| HIMS & HERS HEALTH INC | 0.69% | |
| PTC THERAPEUTICS INC | 0.67% | |
| VSE CORP | 0.65% | |
| INSTALLED BUILDING PRODUCTS INC | 0.63% | |
| ESSENT GROUP LTD | 0.63% | |
| ESAB CORP | 0.62% | |
| LIGAND PHARMACEUTICALS INC | 0.61% | |
| SEZZLE INC | 0.61% | |
| IRIDIUM COMMUNICATIONS INC | 0.59% | |
| ENOVA INTERNATIONAL INC | 0.59% | |
| SELECTIVE INSURANCE GROUP INC | 0.59% | |
| MERCURY GENERAL CORP | 0.58% |
By country
United States 95.41%Bermuda 2.28%Marshall Islands 0.51%Canada 0.31%United Kingdom 0.3%By asset type
Stocks 99.92%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $4K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +9.68%, +1.67%, +6.85%.
How it works
QSML is an index fund that aims to match the WisdomTree U.S. SmallCap Quality Growth Index, before fees. WisdomTree designed the index; its subsidiary WisdomTree Asset Management runs the fund. Eligible companies must list on a U.S. exchange, have their main business in the United States, be worth at least $100 million and trade a median $1 million a day. The index sets aside the 500 largest companies and draws from the smaller end of what remains.
Each candidate gets a score that weighs growth and quality equally. Growth combines three-year sales growth (40%), three-year earnings growth (40%) and forecast earnings growth (20%). Quality uses three-year average return on equity and return on assets, which compare profits with shareholders' money and with everything a company owns. The top 30% are selected and weighted by market value, so bigger companies weigh more. Each stock is capped at 5% at rebalancing.
The index is rebuilt and rebalanced twice a year. The fund may hold a sample of index stocks chosen to behave like the index, but keeps at least 80% of net assets in index stocks. As of June 30, 2026, it held 376 stocks and no derivatives; the top 10 made up 6.75% of assets. Portfolio turnover, a measure of trading, was 85%; those trading costs aren't in the expense ratio.
What it really costs
- QSML charges 0.38% a year, versus an average of 0.21% for the similar funds below (8th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $39 in the first year and $480 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| QSML | $39 | $122 | $213 | $480 |
In a retirement portfolio
Small-company growth stocks, a short record, a tiny asset base and above-average costs make it better suited to a modest side position than to the center of a portfolio.
Because its index skips the 500 largest U.S. companies, QSML could add small-company growth exposure that large-company funds leave out. It launched January 25, 2024, so it has no history through the 2008, 2020 or 2022 market drops. Its deepest fall was 28.5%, from November 25, 2024 to April 8, 2025, and it recovered by December 11, 2025, about eight months later. Selling shares for spending in that stretch meant selling below the earlier high. Its only full calendar year, 2025, returned 5.6%, including an 11.05% drop in the first quarter.
Income is small: the yield was 0.53% as of October 27, 2026, paid once a year. Only one of eight similar funds charges more than its 0.38% expense ratio; the SEC's standard example puts ten-year costs on $10,000 at $480. Past results don't predict the future, and a plan needs to weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting small U.S. companies screened on both growth and profitability (return on equity and assets), not growth alone.
- Those who want money spread across many companies: 376 stocks, with the 10 largest totaling 6.75% of assets as of June 30, 2026.
- Long-term investors adding a small side position who can ride out drops like its 28.5% fall between November 2024 and April 2025.
Look elsewhere if
- Cost-focused investors: its 0.38% expense ratio is nearly four times the 0.10% charged by Vanguard S&P Small-Cap 600 Growth ETF (VIOG).
- Those needing income: the yield was 0.53% as of October 27, 2026, and dividends arrive only once a year.
- Anyone wary of new, tiny funds: it launched in January 2024 and had just $11.6 million in net assets as of June 30, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QSML this fund | — | 0.38% | $11.6M | +19.6% | — |
| VIOG Vanguard S&P Small-Cap 600 Growth ETF | 39% | 0.1% | $1.09B | +14.5% | +17.9% |
| SLYG SPDR S&P 600 Small Cap Growth ETF | 37% | 0.15% | $5.20B | +14.6% | +17.7% |
| IJT iShares S&P Small-Cap 600 Growth ETF | 37% | 0.18% | $8.22B | +14.4% | +17.7% |
| CSA VictoryShares US Small Cap Volatility Wtd E… | 31% | 0.35% | $24.3M | 0.0% | +7.2% |
| TPSC Timothy Plan US Small Cap Core ETF | 31% | 0.52% | $357.0M | +13.0% | +18.2% |
| VTWG Vanguard Russell 2000 Growth ETF | 31% | 0.1% | $1.73B | +6.6% | +21.0% |
| VIOO Vanguard S&P Small-Cap 600 ETF | 29% | 0.07% | $6.45B | +16.7% | +18.6% |
Questions investors ask
What does QSML invest in?
QSML invests in small U.S. company stocks chosen by the WisdomTree U.S. SmallCap Quality Growth Index. As of June 30, 2026, it held 376 stocks. The largest were ACM Research, TG Therapeutics, Acushnet, Hims & Hers Health and PTC Therapeutics, each under 1% of assets. The index had roughly 15% or more of its weight in each of four sectors: industrials, consumer discretionary, financials and information technology. Its companies ranged from $141.6 million to $8.5 billion in market value.
What is the expense ratio of QSML?
QSML's expense ratio is 0.38%, according to its prospectus filed July 29, 2026. That is above the 0.21% average of eight similar small-cap funds; only one of them, Timothy Plan US Small Cap Core ETF at 0.52%, costs more. In the SEC's standard example, $10,000 earning 5% a year would incur about $39 in costs after one year, $213 after five and $480 after ten. Trading costs from its 85% portfolio turnover are not included in those figures.
What's the difference between QSML and VIOG?
The main differences are the index, cost and size. Vanguard S&P Small-Cap 600 Growth ETF (VIOG) charges 0.10%, versus 0.38% for QSML, and had about $1.09 billion in net assets as of August 31, 2026, against QSML's $11.6 million as of June 30, 2026. QSML ranks stocks on WisdomTree's growth-and-profitability scores, while VIOG tracks an S&P small-cap growth index. About 39% of their holdings overlap. In the year to October 27, 2026, QSML returned 19.6% and VIOG 14.5%, though one year is a short window.
Does QSML pay dividends?
Yes, but not much. QSML pays dividends once a year. Over the 12 months to October 27, 2026, it paid about $0.18 per share, a yield of 0.53%. Low payouts are common with growth stocks, since growing companies often reinvest profits rather than pay them out. Investors who need regular cash from a fund would get little here and would likely need to sell shares.
How has QSML performed since it launched?
QSML has gained money over its short life, with sharp swings along the way. Its prospectus shows a 5.6% return in 2025, its only full calendar year, and 8.51% a year from its January 25, 2024 launch through December 31, 2025. In the year to October 27, 2026, it returned 19.6%. But it fell 28.5% from November 25, 2024 to April 8, 2025, and took about eight months to recover.