Source: Nyshka Chandran, Nikkei Skids 3.8% After Abe Fires Third Arrow, CNBC.com, June 5,

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1 WisdomTree ETFs JAPAN HEDGED SMALLCAP EQUITY FUND DXJS The Land of the Rising Sun offers the potential for an exciting investment opportunity. Since Shinzo Abe was elected prime minister in late 2012, the focus has been on Abenomics. Central to Abenomics is an expansionary fiscal stimulus, expansionary monetary policies and structural reforms aimed at ending Japan s deflationary cycle. Such policies have increased positive sentiment in the equity markets and introduced a potential spillover on the wealth of the Japanese citizenry, which could ultimately manifest in the form of higher local consumer demand. Consider that: + Shinzo Abe s strategy for long-term structural changes has the potential to benefit the local economy and industries 1 + Small-cap companies are often more sensitive to local demand than their large-cap peers 2 + Hedging the yen can be critical to pursuing the market s equity returns during a declining yen environment 3 TAKE THE YEN OUT OF JAPAN SMALL CAPS With more policy rhetoric on the horizon and a heightened focus on structural reforms, we believe that corporations focused on the local markets stand to benefit from these policy changes. While there is no way to know whether the depreciation of the yen will continue, we believe it is a powerful illustration of the potential benefit of a currency-hedged approach to Japan s equities when the yen is weakening. The following chart illustrates how hedging the yen impacts total return. 1 Source: Nyshka Chandran, Nikkei Skids 3.8% After Abe Fires Third Arrow, CNBC.com, June 5, Source: Bloomberg, as of 6/30/ Hedging: Applying strategies meant to mitigate the impact of currency movements on equity returns.

2 CUMULATIVE PERFORMANCE OF JAPAN SMALL CAPS WITH AND WITHOUT CURRENCY RISK [ 11/30/2012 6/30/2016 ] % % Yen Spot Rate (vs. USD)*** Japan Small Cap Equities-with currency risk** Japan Small Cap Equities-without currency risk* 89.99% Cumulative Return (%) 50.00% 0.00% 52.73% % % % 11/30/2012 1/31/2013 3/31/2013 5/31/2013 7/31/2013 9/30/ /30/2013 1/31/2014 3/31/2014 5/31/2014 7/31/2014 9/30/ /30/2014 1/31/2015 3/31/2015 5/31/2015 7/31/2015 9/30/ /30/2015 1/31/2016 3/31/2016 5/30/2016 Source: Bloomberg. *Japan Small-Cap Equities without currency risk: MSCI Japan Small Cap Index, in which returns are measured in Japanese yen. **Japan Small-Cap Equities with currency risk: MSCI Japan Small Cap Index, in which returns are measured in U.S. dollars. ***Yen spot rate (vs. USD): Japanese yen per U.S. dollar. Yen spot rate (vs. USD): Indicates the change in value of the yen in terms of U.S. dollars. Negative values indicate the yen has lost value against the U.S. dollar. 11/30/12 start date chosen to coincide with start of Abenomics. Past performance is not indicative of future results. You cannot invest directly in an index. Index performance does not represent actual fund or portfolio performance. A fund or portfolio may differ significantly from the securities included in the index. Index performance assumes reinvestment of dividends but does not reflect any management fees, transaction costs or other expenses that would be incurred by a portfolio or fund, or brokerage commissions on transactions in fund shares. Such fees, expenses and commissions could reduce returns. The table on the next page displays the effect the Japanese yen has had on the total returns of Japanese equities, both large and small. Japanese equities, trading in their local markets (i.e., without currency risk), displayed a higher return over the 3-year and 5-year periods. It is notable that Japan small-cap equities outperformed their large-cap peers over all listed time horizons both with and without currency exposure. Many investors think small-cap companies possess more growth opportunities than large caps, and this has resulted in higher returns.

3 The Japanese markets have been relatively unique recently because the currency return (yen spot rate vs. USD) has historically exhibited a strong negative correlation with the equity markets and this has been true for both the large- and small-cap segments. This negative correlation lowered the total risk 4 of the equities exposed to the currency risk over the longer period, but periods of yen weakness corresponded with more positive equity returns. AVERAGE ANNUAL RISK & RETURN STATISTICS [ As of 6/30/2016 ] YTD 1-Year 3-Year 5-Year 10-Year Average Annual Standard Deviation Beta Yen Spot Rate (vs. USD) 35.8% 18.6% -1.3% -4.8% 1.0% 14.8% 0.04 Japan Small Cap Equities With Currency Risk 2.2% 3.2% 9.3% 8.0% 1.9% 13.6% 0.72 Japan Small Cap Equities Without Currency Risk -12.9% -13.5% 10.5% 13.2% 0.8% 18.6% 0.78 Japan Large Cap Equities With Currency Risk -5.6% -8.9% 2.7% 4.2% 0.1% 18.2% 1.00 Japan Large Cap Equities Without Currency Risk -19.5% -23.7% 3.8% 9.3% -0.9% 22.6% 1.06 Sources: Bloomberg, WisdomTree. Period is from 6/30/2006 to 6/30/2016. Japan Large-Cap Equities with currency risk: The MSCI Japan Index, with returns calculated in U.S. dollars and which include the impact of exchange rate fluctuations between the yen and the U.S. dollar. Japan Large-Cap Equities without currency risk: The MSCI Japan Local Currency Index, with returns calculated in yen and which do not include the impact of exchange rate fluctuations between the yen and the U.S. dollar. Average Annual Standard Deviation: Measure of how widely an investment s or investment strategy s returns are dispersed around its average returns for an observed period. A higher value implies more risk, i.e., there is more of a chance the actual return observed is farther away from the average return. Beta: Measure of the volatility of an index or investment relative to a benchmark. A reading of 1.00 indicates that the investment has moved in lockstep with the benchmark; a reading of indicates that the investment has moved in the exact opposite direction of the benchmark. Past performance does not guarantee future results. You cannot invest directly in an index. JAPAN SMALL-CAP STOCKS OFFER ATTRACTIVE VALUATIONS 5 As depicted on the next page, Japan small-cap stocks have consistently traded at a discount to large-cap stocks from a price-to-book ratio 6 perspective over much of the last decade through June 30, We believe that today s comparable price-to-book valuation ratios offer an attractive case for Japanese small cap stocks. 4 Total risk: Synonymous with standard deviation, measure of how widely an investment or investment strategy s returns move relative to its average returns for an observed period. A higher value implies more risk, in that there is more of a chance the actual return observed is farther away from the average return. Includes standard deviation of both currency and equity. 5 Valuation: Refers to metrics that relate financial statistics for equities to their price levels to determine if certain attributes, such as earnings or dividends, are cheap or expensive. 6 Price-to-book ratio: Share price dividend by book value per share. Lower values indicate that shareholders are able to access greater amounts of an equity s book value per dollar invested.

4 DIFFERENCE BETWEEN LARGE-CAP AND SMALL-CAP JAPANESE STOCKS FROM A PRICE-TO-BOOK PERSPECTIVE 2.5x 2.0x Japan Large Cap Equities* Japan Small Cap Equities** Price/Book Ratio 1.5x 1.0x 1.13x 1.04x 0.5x 0.0x 6/30/2006 6/30/2007 6/30/2008 6/30/2009 6/30/2010 6/30/2011 6/30/2012 6/30/2013 6/30/2014 6/30/2015 6/30/2016 Source: Bloomberg. Period is from 6/30/2006 to 6/30/2016. *Japan Large-Cap Equities: MSCI Japan Index. **Japan Small-Cap Equities: MSCI Japan Small Cap Index. Past performance is not indicative of future results. You cannot invest directly in an index. JAPAN SMALL-CAP HEDGED INVESTMENT PROCESS The WisdomTree Japan Hedged SmallCap Equity Index is designed to track Japan small-cap stocks and uses a rules-based process for selecting and weighting securities while hedging the yen risk. Compared to the WisdomTree Japan Hedged Equity Index, which focuses predominantly on larger companies that derive significant revenues from outside Japan, the small-cap hedged investment vehicle shows a notably different picture with respect to where the revenues of its constituents are generated. WEIGHTED AVERAGE REVENUES BY SECTOR [ As of 5/31/2016 Index Screening ] 140% Weighted Avg. Revenue from within Japan 120% 100% 80% 60% 40% 20% 74% 31% 90% 51% 86% 75% 97% WisdomTree Japan Hedged SmallCap Equity Index WisdomTree Japan Hedged Equity Index 69% 87% 50% 73% 47% 61% 32% 68% 53% 100% 77% 45% 0% Consumer Discretionary Consumer Staples Energy Financials Health Care Industrials Information Technology Materials 0% Utilities Full Index Source: WisdomTree, Bloomberg, Standard & Poor s, as of 5/31/2016. Subject to change.

5 DXJS WisdomTree Japan Hedged SmallCap Equity Fund The first ETF to take the yen out of Japan small caps. The WisdomTree Japan Hedged SmallCap Equity Index, which DXJS is designed to track, uses a rules-based process for selecting and weighting securities while managing the exchange rate risk. + Index Selection: The universe comprises the Japan dividendpaying stocks trading on one of the following Japan stock exchanges: Tokyo, Osaka, JASDAQ. Companies must have a minimum market capitalization of $100 million and pay at least $5 million in regular cash dividends annually. + Mechanics of the Currency Hedge: Local market Japan small-cap equity return + Yen Return Hedged Yen Return Hedged Equity Return + Index Weighting: Companies weighted by dividends 2% cap to weight in any single company 25% cap to weight in any sector Between rebalances, weights to individual companies and individual sectors may fluctuate above 2% and 25%, respectively, due to market movement. Volume adjustment to reduce weight of less liquid stocks 7 The Fund will implement the currency hedging strategy by entering into one-month forward contracts 8 each month and rebalancing at month-end. 7 A volume screen requires the average daily volume over the prior three months to be of a certain level, with larger weights requiring higher volumes in order to gain inclusion. 8 One-month forward currency contract: An agreement between two parties to exchange two currencies at a given exchange rate 30 days in the future. This guarantees an exchange rate on a given date.

6 At WisdomTree, we do things differently. We build our ETFs with proprietary methodologies, smart structures and/ or uncommon access to provide investors with the potential for income, performance, diversification and more. For more information or to invest in DXJS, contact your WisdomTree representative or call WISE (9473). Unless otherwise stated, the source is WisdomTree. Dividends are not guaranteed, and a company s future ability to pay dividends may be limited. A company paying dividends may cease paying dividends at any time. Hedging can help returns when a foreign currency depreciates against the U.S. dollar, but can hurt when the foreign currency appreciates against the U.S. dollar. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. To obtain a prospectus containing this and other important information, call WISE (9473) or visit wisdomtree.com. Read the prospectus carefully before you invest. There are risks associated with investing, including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Funds focusing their investments on certain sectors and/or smaller companies increase their vulnerability to any single economic or regulatory development. This may result in greater share price volatility. The Fund focuses its investments in Japan, thereby increasing the impact of events and developments in Japan, which can adversely affect performance. Investments in currency involve additional special risks, such as credit risk, interest rate fluctuations and derivative investments, which can be volatile and may be less liquid than other securities and more sensitive to the effect of varied economic conditions. As this Fund can have a high concentration in some issuers, the Fund can be adversely impacted by changes affecting those issuers. Please read the Fund s prospectus for specific details regarding the Fund s risk profile. WisdomTree Japan Hedged Equity Index: Designed to provide exposure to Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese yen movements against the U.S. dollar. WisdomTree Japan Hedged SmallCap Equity Index: Designed to provide exposure to Japanese equity markets while at the same time neutralizing fluctuations of the Japanese yen movements against the U.S. dollar. MSCI Japan Index: A free float-adjusted market capitalization-weighted index designed to track the equity market performance of Japanese securities listed on the Tokyo Stock Exchange, Osaka Stock Exchange, JASDAQ and Nagoya Stock Exchange. MSCI Japan Local Currency Index: A free float-adjusted market capitalization-weighted index designed to track the equity market performance of Japanese securities, with returns measured in yen. MSCI Japan Small Cap Index: A free float-adjusted market capitalization-weighted index designed to measure the equity market performance of Japanese small-cap securities. MSCI Japan Small Cap Local Currency Index: A free float-adjusted market capitalization-weighted index designed to measure the equity market performance of Japanese small-cap securities, with returns measured in yen. WisdomTree Funds are distributed by Foreside Fund Services, LLC, in the U.S. only. WTGM-1384

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