WisdomTree Dreyfus Emerging Currency Fund(CEW)

ACCESS 11 EMERGING MARKET CURRENCIES IN 1 ETF

The Emerging Currency Fund (CEW) is an actively managed exchange-traded
fund that seeks to provide the investor with a liquid, broad-based exposure
to money market rates and currency movements within emerging market
countries. Although the Fund invests in very short-term instruments, the Fund
is not a money market fund, and it is not the objective to maintain a constant
share price.

Constituent Currencies At Launch

LATIN AMERICA

* Mexican Peso
* Brazilian Real
* Chilean Peso

EUROPE, MIDDLE EAST and AFRICA

* South African Rand
* Polish Zloty
* Israeli Shekel
* Turkish New Lira

ASIA

* Chinese Yuan
* South Korean Won
* Taiwanese Dollar
* Indian Rupee

What investment attributes should this exposure to emerging money
market rates and currency movements offer investors?

Small allocations to broad-based currency baskets generally have provided
diversification benefits when incorporated into traditional core bond and
equity portfolios. Strategically combining currencies into a basket tempers
a substantial portion of the volatility inherent with investments in individual
currencies, while offering low correlations with core holdings in U.S. bonds and
stocks. Additionally, the investor has the potential to be rewarded for assuming
emerging market risk through potentially higher yields than similar maturity
instruments from developed markets.

What is the basic investment approach of the Fund?

The Fund invests in instruments designed to provide exposure to money market
rates in emerging market countries. A basket of 8 to 12 currencies is selected for
the Fund on an annual basis, and the Fund’s assets are invested in equal portions
to achieve exposure to these currencies. The currency exposures are then reset
quarterly to maintain this equal weighting. The Fund utilizes investments in
high-quality U.S. money market investments and forward currency contracts
to achieve a risk-return exposure that is economically similar to money market
instruments denominated in the specified emerging currencies. The Fund thus
combines a relatively passive approach to currency selection and weighting
with active investment selection of the underlying investments.

How are the constituent currencies selected for the Emerging Currency Fund?

Developing a liquid and representative proxy for the emerging markets was the goal in selecting the countries for inclusion in the fund. The management team first assesses the foreign exchange market and separates tradable currencies into three categories: developed, developing/emerging and frontier. With a few exceptions, these classifications will resemble similar classifications in equity and fixed income markets.

Within the developing/emerging classification, currencies are analyzed in terms of liquidity and regional and economic diversification. Several sources are consulted to assess the liquidity of the currencies, and only those currencies deemed to have sufficient liquidity are eligible for inclusion in the basket.

Disclosure I am long CEW in my forex Folio(my only forex play at this time).