[LOGO] TRAVELERS

                         INVESTMENT COMPANY BLANKET BOND

                   St. Paul Fire and Marine Insurance Company

                         St. Paul, Minnesota 55102-1396
             (A Stock Insurance Company, herein called Underwriter)

DECLARATIONS                                                  BOND NO. 490PB1507

Item 1. Name of Insured (herein called Insured):

        WISDOMTREE TRUST
        Principal Address:

        48 WALL STREET
        SUITE 1100
        NEW YORK, NY 10005

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Item 2. Bond Period from 12:01 a.m. on 03/14/07 to 12:01 a.m. on 03/14/08 the
        effective date of the termination or cancellation of the bond, standard
        time at the Principal Address as to each of said dates.
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Item 3. Limit of Liability
        Subject to Sections 9, 10, and 12 hereof:



                                                        Limit of Liability   Deductible Amount
                                                                       
Insuring Agreement A - FIDELITY                         $ 2,500,000          $       0
Insuring Agreement B - AUDIT EXPENSE                    $    50,000          $   5,000
Insuring Agreement C - PREMISES                         $ 2,500,000          $  15,000
Insuring Agreement D - TRANSIT                          $ 2,500,000          $  15,000
Insuring Agreement E - FORGERY OR ALTERATION            $ 2,500,000          $  15,000
Insuring Agreement F - SECURITIES                       $ 2,500,000          $  15,000
Insuring Agreement G - COUNTERFEIT CURRENCY             $ 2,500,000          $  15,000
Insuring Agreement H - STOP PAYMENT                     $    50,000          $   5,000
Insuring Agreement I - UNCOLLECTIBLE ITEMS OF DEPOSIT   $    50,000          $   5,000
OPTIONAL COVERAGES ADDED BY RIDER:
J - COMPUTER SYSTEMS                                    $ 2,500,000          $  15,000
K - VOICE-INITIATED TRANSACTIONS                        $ 2,500,000          $  15,000
L - TELEFACSIMILE SYSTEMS                               $ 2,500,000          $  15,000
M - UNAUTHORIZED SIGNATURES                             $    50,000          $   5,000


If "Not Covered" is inserted above opposite any specified  Insuring Agreement or
Coverage, such Insuring Agreement or Coverage and any other reference thereto in
this bond shall be deemed to be deleted therefrom.

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Item 4. Offices or Premises Covered - Offices acquired or established subsequent
        to the effective date of this bond are covered according to the terms of
        General  Agreement A. All the Insured's offices or premises in existence
        at the time this bond  becomes  effective  are  covered  under this bond
        except the offices or premises located as follows: N/A

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Item 5. The liability of the Underwriter is subject to the terms of the
        following endorsements or riders attached hereto:

ICB001 07-04; ICB005 07-04; ICB010 07-04; ICB011 07-04; ICB012 07-04;
ICB013 07-04; ICB014 07-04; ICB015 07-04; ICB016 07-04; ICB017 07-04;
ICB026 07-04; ND044 08-05; ND054 01-07; 40724 12-90;

ICB001 Rev. 7/04
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved  Page 1 of 2



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Item 6. The Insured by the acceptance of this bond gives notice to the
        Underwriter terminating or canceling prior bonds or policy(ies) No.(s)
        490PB1094 such termination or cancellation to be effective as of the
        time this bond becomes effective.
================================================================================
IN WITNESS WHEREOF, the Company has caused this bond to be signed by its
President and Secretary and countersigned by a duly authorized representative of
the Company.

Countersigned:                        ST. PAUL FIRE AND MARINE INSURANCE COMPANY

----------------------------------------------
Authorized Representative   Countersigned At          [ILLEGIBLE]    [ILLEGIBLE]

                                                Secretary         President

------------------------------
Countersignature Date

ICB001 Rev. 7/04
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved  Page 2 of 2



                         INVESTMENT COMPANY BLANKET BOND

The  Underwriter,  in  consideration  of an agreed  premium,  and subject to the
Declarations  made  a  part  hereof,  the  General  Agreements,  Conditions  and
Limitations and other terms of this bond, agrees with the Insured, in accordance
with the  Insuring  Agreements  hereof  to  which  an  amount  of  insurance  is
applicable as set forth in Item 3 of the  Declarations  and with respect to loss
sustained by the Insured at any time but discovered  during the Bond Period,  to
indemnify and hold harmless the Insured for:

                               INSURING AGREEMENTS

(A)   FIDELITY

      Loss resulting from any dishonest or fraudulent act(s),  including Larceny
      or Embezzlement,  committed by an Employee, committed anywhere and whether
      committed  alone or in collusion  with others,  including loss of Property
      resulting  from such acts of an  Employee,  which  Property is held by the
      Insured  for  any  purpose  or  in  any   capacity  and  whether  so  held
      gratuitously or not and whether or not the Insured is liable therefor.

      Dishonest or fraudulent  act(s) as used in this Insuring  Agreement  shall
      mean only dishonest or fraudulent  act(s)  committed by such Employee with
      the manifest  intent:

      (a)   to cause the Insured to sustain such loss; and

      (b)   to  obtain  financial  benefit  for the  Employee,  or for any other
            Person or  organization  intended by the  Employee  to receive  such
            benefit,   other  than   salaries,   commissions,   fees,   bonuses,
            promotions,  awards,  profit  sharing,  pensions  or other  employee
            benefits earned in the normal course of employment.

(B)   AUDIT EXPENSE

      Expense  incurred  by the  Insured for that part of the costs of audits or
      examinations  required  by any  governmental  regulatory  authority  to be
      conducted  either by such  authority or by an  independent  accountant  by
      reason of the  discovery  of loss  sustained  by the  Insured  through any
      dishonest or fraudulent act(s), including Larceny or Embezzlement,  of any
      of the Employees.  The total liability of the Underwriter for such expense
      by  reason of such  acts of any  Employee  or in which  such  Employee  is
      concerned or implicated or with respect to any one audit or examination is
      limited  to the  amount  stated  opposite  Audit  Expense in Item 3 of the
      Declarations;  it being  understood,  however,  that such expense shall be
      deemed to be a loss  sustained  by the Insured  through any  dishonest  or
      fraudulent  act(s),  including Larceny or Embezzlement,  of one or more of
      the Employees, and the liability under this paragraph shall be in addition
      to the Limit of Liability  stated in Insuring  Agreement  (A) in Item 3 of
      the Declarations.

(C)   ON PREMISES

      Loss of  Property  (occurring  with or  without  negligence  or  violence)
      through robbery,  burglary,  Larceny,  theft,  holdup, or other fraudulent
      means,  misplacement,   mysterious  unexplainable  disappearance,   damage
      thereto  or   destruction   thereof,   abstraction  or  removal  from  the
      possession,  custody or control of the Insured,  and loss of subscription,
      conversion,  redemption or deposit  privileges through the misplacement or
      loss of Property, while the Property is (or is supposed or believed by the
      Insured to be) lodged or deposited  within any offices or premises located
      anywhere,  except in an office  listed  in Item 4 of the  Declarations  or
      amendment thereof or in the mail or with a carrier for hire, other than an
      armored motor vehicle company,  for the purpose of transportation.

                              Office and Equipment

      (1)   loss of or damage to furnishings,  fixtures, stationery, supplies or
            equipment,  within any of the Insured's  offices  covered under this
            bond  caused by  Larceny  or theft in, or by  burglary,  robbery  or
            hold-up of, such  office,  or attempt  thereat,  or by  vandalism or
            malicious mischief; or

      (2)   loss through damage to any such office by Larceny or theft in, or by
            burglary, robbery or hold-up of, such office, or attempt thereat, or
            to the  interior  of any  such  office  by  vandalism  or  malicious
            mischief  provided,  in any event,  that the Insured is the owner of
            such  offices,  furnishings,   fixtures,  stationery,   supplies  or
            equipment  or is  legally  liable  for such  loss or  damage  always
            excepting, however, all loss or damage through fire.

(D)   IN TRANSIT

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      Loss of  Property  (occurring  with or  without  negligence  or  violence)
      through  robbery,  Larceny,  theft,  hold-up,   misplacement,   mysterious
      unexplainable  disappearance,  being  lost or  otherwise  made away  with,
      damage  thereto  or  destruction   thereof,   and  loss  of  subscription,
      conversion,  redemption or deposit  privileges through the misplacement or
      loss of Property, while the Property is in transit anywhere in the custody
      of any person or persons acting as messenger,  except while in the mail or
      with a carrier for hire, other than an armored motor vehicle company,  for
      the purpose of  transportation,  such  transit to begin  immediately  upon
      receipt of such Property by the transporting person or persons, and to end
      immediately upon delivery thereof at destination.

(E)   FORGERY OR ALTERATION

      Loss through Forgery or alteration of or on:

      (1)   any bills of exchange, checks, drafts, acceptances,  certificates of
            deposit,  promissory  notes,  or other written  promises,  orders or
            directions  to pay sums certain in money,  due bills,  money orders,
            warrants,  orders upon public treasuries,  letters of credit; or

      (2)   other written instructions,  advices or applications directed to the
            Insured,   authorizing  or  acknowledging  the  transfer,   payment,
            delivery  or  receipt  of funds  or  Property,  which  instructions,
            advices or  applications  purport to have been signed or endorsed by
            any:

            (a)   customer of the Insured, or

            (b)   shareholder or subscriber to shares,  whether  certificated or
                  uncertificated, of any Investment Company, or

            (c)   financial or banking  institution  or  stockbroker,

            but which  instructions,  advices or  applications  either  bear the
            forged  signature or  endorsement  or have been altered  without the
            knowledge and consent of such customer, shareholder or subscriber to
            shares, or financial or banking  institution or stockbroker;  or

      (3)   withdrawal  orders  or  receipts  for the  withdrawal  of  funds  or
            Property,  or receipts or  certificates  of deposit for Property and
            bearing the name of the Insured as issuer, or of another  Investment
            Company for which the Insured acts as agent,

      excluding,  however,  any loss covered under Insuring Agreement (F) hereof
      whether or not coverage for Insuring  Agreement (F) is provided for in the
      Declarations of this bond.

      Any check or draft (a) made payable to a fictitious  payee and endorsed in
      the name of such  fictitious  payee or (b) procured in a transaction  with
      the maker or drawer  thereof  or with one acting as an agent of such maker
      or drawer or anyone impersonating another and made or drawn payable to the
      one  so   impersonated   and   endorsed  by  anyone  other  than  the  one
      impersonated, shall be deemed to be forged as to such endorsement.

      Mechanically  reproduced  facsimile  signatures  are  treated  the same as
      handwritten signatures.

(F)   SECURITIES

      Loss  sustained by the Insured,  including  loss  sustained by reason of a
      violation of the  constitution  by-laws,  rules or regulations of any Self
      Regulatory  Organization  of which the  Insured is a member or which would
      have been imposed upon the Insured by the constitution,  by-laws, rules or
      regulations of any Self Regulatory  Organization if the Insured had been a
      member thereof,

      (1)   through  the  Insured's  having,  in good faith and in the course of
            business,  whether for its own account or for the account of others,
            in any  representative,  fiduciary,  agency or any  other  capacity,
            either  gratuitously or otherwise,  purchased or otherwise acquired,
            accepted  or  received,  or sold or  delivered,  or given any value,
            extended  any credit or assumed any  liability,  on the faith of, or
            otherwise  acted upon,  any  securities,  documents or other written
            instruments which prove to have been:

            (a)   counterfeited, or

            (b)   forged  as to the  signature  of any  maker,  drawer,  issuer,
                  endorser,  assignor,  lessee,  transfer  agent  or  registrar,
                  acceptor,  surety  or guarantor or as to the  signature of any
                  person signing in any other capacity, or

            (c)   raised or otherwise altered, or lost, or stolen, or

      (2)   through  the  Insured's  having,  in good faith and in the course of
            business,  guaranteed in writing or witnessed any signatures whether
            for  valuable   consideration   or  not  and  whether  or  not  such
            guaranteeing  or  witnessing  is ultra vires the  Insured,  upon any
            transfers,

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            assignments,   bills  of  sale,  powers  of  attorney,   guarantees,
            endorsements  or other  obligations  upon or in connection  with any
            securities, documents or other written instruments and which pass or
            purport to pass title to such securities, documents or other written
            instruments; excluding losses caused by Forgery or alteration of, on
            or in those instruments covered under Insuring Agreement (E) hereof.

      Securities, documents or other written instruments shall be deemed to mean
      original  (including original  counterparts)  negotiable or non-negotiable
      agreements  which in and of  themselves  represent an equitable  interest,
      ownership,  or debt,  including an assignment  thereof,  which instruments
      are, in the ordinary course of business,  transferable by delivery of such
      agreements with any necessary endorsement or assignment.

      The  word  "counterfeited"  as used in this  Insuring  Agreement  shall be
      deemed to mean any security, document or other written instrument which is
      intended  to  deceive  and  to be  taken  for  an  original.

      Mechanically  reproduced  facsimile  signatures  are  treated  the same as
      handwritten signatures.

(G)   COUNTERFEIT CURRENCY

      Loss  through  the  receipt  by  the  Insured,   in  good  faith,  of  any
      counterfeited  money  orders or altered  paper  currencies  or coin of the
      United  States of  America  or Canada  issued or  purporting  to have been
      issued by the United  States of America or Canada or issued  pursuant to a
      United States of America or Canada statute for use as currency.

(H)   STOP PAYMENT

      Loss against any and all sums which the Insured shall become  obligated to
      pay by  reason  of the  liability  imposed  upon  the  Insured  by law for
      damages:

            For having either complied with or failed to comply with any written
            notice of any customer,  shareholder or subscriber of the Insured or
            any  Authorized  Representative  of such  customer,  shareholder  or
            subscriber  to stop  payment  of any check or draft made or drawn by
            such   customer,   shareholder   or  subscriber  or  any  Authorized
            Representative of such customer, shareholder or subscriber, or

            For  having  refused  to pay any check or draft made or drawn by any
            customer, shareholder or subscriber of the Insured or any Authorized
            Representative of such customer, shareholder or subscriber.

(I)   UNCOLLECTIBLE ITEMS OF DEPOSIT

      Loss resulting  from payments of dividends or fund shares,  or withdrawals
      permitted from any  customer's,  shareholder's,  or  subscriber's  account
      based upon  Uncollectible  Items of Deposit of a customer,  shareholder or
      subscriber  credited  by  the  Insured  or the  Insured's  agent  to  such
      customer's,  shareholder's  or subscriber's  Mutual Fund Account;  or loss
      resulting from an Item of Deposit processed through an Automated  Clearing
      House which is reversed by the customer,  shareholder  or  subscriber  and
      deemed uncollectible by the Insured.

      Loss  includes  dividends  and  interest  accrued not to exceed 15% of the
      Uncollectible Items which are deposited.

      This  Insuring  Agreement  applies  to all  Mutual  Funds  with  "exchange
      privileges"  if all  Fund(s) in the  exchange  program  are insured by the
      Underwriter for Uncollectible  Items of Deposit.  Regardless of the number
      of  transactions  between  Fund(s),  the minimum number of days of deposit
      within the Fund(s) before withdrawal as declared in the Fund(s) prospectus
      shall  begin from the date a deposit  was first  credited  to any  Insured
      Fund(s).

                               GENERAL AGREEMENTS

A.    ADDITIONAL OFFICES OR EMPLOYEES - CONSOLIDATION OR MERGER - NOTICE

      (1)   If the Insured  shall,  while this bond is in force,  establish  any
            additional  office or offices,  such offices shall be  automatically
            covered   hereunder   from  the   dates   of  their   establishment,
            respectively. No notice to the Underwriter of an increase during any
            premium  period  in  the  number  of  offices  or in the  number  of
            Employees at any of the offices covered  hereunder need be given and
            no additional premium need be paid for the remainder of such premium
            period.

      (2)   If an Investment Company, named as Insured herein, shall, while this
            bond is in force,  merge or consolidate with, or purchase the assets
            of another  institution,  coverage for such acquisition  shall apply
            automatically

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            from  the  date  of  acquisition.   The  Insured  shall  notify  the
            Underwriter of such acquisition  within 60 days of said date, and an
            additional  premium  shall  be  computed  only if  such  acquisition
            involves additional offices or employees.

B.    WARRANTY

      No statement made by or on behalf of the Insured, whether contained in the
      application  or  otherwise,  shall be deemed to be a warranty  of anything
      except  that it is true to the best of the  knowledge  and  belief  of the
      person making the statement.

C.    COURT COSTS AND ATTORNEYS' FEES

      (Applicable  to all  Insuring  Agreements  or  Coverages  now or hereafter
      forming  part of this bond)

      The  Underwriter  will  indemnify  the  Insured  against  court  costs and
      reasonable  attorneys'  fees  incurred and paid by the Insured in defense,
      whether or not  successful,  whether or not fully  litigated on the merits
      and  whether  or not  settled,  of any  suit or legal  proceeding  brought
      against  the  Insured  to  enforce  the  Insured's  liability  or  alleged
      liability on account of any loss,  claim or damage which,  if  established
      against the  Insured,  would  constitute  a loss  sustained by the Insured
      covered under the terms of this bond provided,  however, that with respect
      to Insuring  Agreement  (A) this  indemnity  shall apply only in the event
      that:

      (1)   an Employee  admits to being guilty of any  dishonest or  fraudulent
            act(s),  including  Larceny or  Embezzlement;  or

      (2)   an  Employee  is  adjudicated  to be  guilty  of  any  dishonest  or
            fraudulent  act(s),  including  Larceny or Embezzlement;

      (3)   in the  absence  of (1) or (2) above an  arbitration  panel  agrees,
            after a review of an agreed  statement  of facts,  that an  Employee
            would  be  found  guilty  of   dishonesty   if  such  Employee  were
            prosecuted.

      The Insured shall promptly give notice to the Underwriter of any such suit
      or legal  proceedings and at the request of the Underwriter  shall furnish
      it  with  copies  of  all  pleadings  and  other  papers  therein.  At the
      Underwriter's election the Insured shall permit the Underwriter to conduct
      the  defense  of such suit or legal  proceeding,  in the  Insured's  name,
      through  attorneys  of the  Underwriter's  selection.  In such event,  the
      Insured shall give all reasonable  information  and  assistance  which the
      Underwriter  shall deem  necessary  to the proper  defense of such suit or
      legal proceeding.

      If the amount of the Insured's  liability or alleged  liability is greater
      than the amount  recoverable under this bond, or if a Deductible Amount is
      applicable,  or both, the liability of the Underwriter  under this General
      Agreement is limited to the proportion of court costs and attorneys'  fees
      incurred  and paid by the  Insured or by the  Underwriter  that the amount
      recoverable  under  this bond bears to the total of such  amount  plus the
      amount which is not so recoverable. Such indemnity shall be in addition to
      the Limit of Liability for the applicable Insuring Agreement or Coverage.

D.    FORMER EMPLOYEE

      Acts of an Employee,  as defined in this bond,  are covered under Insuring
      Agreement (A) only while the Employee is in the Insured's  employ.  Should
      loss involving a former  Employee of the Insured be discovered  subsequent
      to the  termination  of  employment,  coverage  would  still  apply  under
      Insuring  Agreement (A) if the direct proximate cause of the loss occurred
      while the former  Employee  performed  duties  within the scope of his/her
      employment.

                 THE FOREGOING INSURING AGREEMENTS AND GENERAL
                     AGREEMENTS ARE SUBJECT TO THE FOLLOWING
                          CONDITIONS AND LIMITATIONS:

SECTION 1. DEFINITIONS

The following terms, as used in this bond have the respective meanings stated in
this Section:

(a)   "Employee" means:

      (1)   any of the Insured's officers, partners, or employees, and

      (2)   any of the officers or employees of any  predecessor  of the Insured
            whose principal  assets are acquired by the Insured by consolidation
            or merger  with,  or  purchase  of assets or capital  stock of, such
            predecessor, and

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      (3)   attorneys  retained by the Insured to perform legal services for the
            Insured and the employees of such attorneys  while such attorneys or
            employees of such  attorneys  are  performing  such services for the
            Insured, and

      (4)   guest  students  pursuing  their  studies  or  duties  in any of the
            Insured's offices, and

      (5)   directors  or  trustees  of the  Insured,  the  investment  advisor,
            underwriter   (distributor),   transfer   agent,   or   shareholder
            accounting  record keeper,  or  administrator  authorized by written
            agreement to keep financial and/or other required records,  but only
            while performing acts coming within the scope of the usual duties of
            an officer or employee or while acting as a member of any  committee
            duly  elected or appointed to examine or audit or have custody of or
            access to the Property of the Insured, and

      (6)   any individual or  individuals  assigned to perform the usual duties
            of an employee within the premises of the Insured,  by contract,  or
            by any agency  furnishing  temporary  personnel on a  contingent  or
            part-time basis, and

      (7)   each  natural  person,  partnership  or  corporation  authorized  by
            written agreement with the Insured to perform services as electronic
            data processor of checks or other accounting records of the Insured,
            but  excluding any such  processor who acts as transfer  agent or in
            any other agency  capacity in issuing  checks,  drafts or securities
            for the Insured, unless included under sub-section (9) hereof, and

      (8)   those  persons so  designated  in Section  15,  Central  Handling of
            Securities, and

      (9)   any officer, partner, or Employee of:

            (a)   an investment advisor,

            (b)   an underwriter (distributor),

            (c)   a transfer agent or shareholder accounting record-keeper, or

            (d)   an  administrator  authorized  by  written  agreement  to keep
                  financial and/or other required records,

      for an Investment  Company named as Insured while  performing  acts coming
      within  the scope of the usual  duties of an officer  or  Employee  of any
      investment Company named as Insured herein, or while acting as a member of
      any  committee  duly  elected  or  appointed  to  examine or audit or have
      custody  of or  access to the  Property  of any such  Investment  Company,
      provided that only Employees or partners of a transfer agent,  shareholder
      accounting  record-keeper or administrator  which is an affiliated person,
      as defined in the Investment Company Act of 1940, of an Investment Company
      named as Insured or is an affiliated person of the advisor, underwriter or
      administrator of such Investment  Company,  and which is not a bank, shall
      be included within the definition of Employee.

      Each  employer  of  temporary  personnel  or  processors  as set  forth in
      sub-sections (6) and (7) of Section l(a) and their partners,  officers and
      employees  shall  collectively  be  deemed  to be one  person  for all the
      purposes of this bond,  excepting,  however, the last paragraph of Section
      13.

      Brokers,  or other agents under  contract or  representatives  of the same
      general character shall not be considered Employees.

(b)   "Property" means money (i.e.  currency,  coin, bank notes, Federal Reserve
      notes), postage and revenue stamps, U.S. Savings Stamps, bullion, precious
      metals of all kinds and in any form and articles made therefrom,  jewelry,
      watches,  necklaces,  bracelets,  gems, precious and semi-precious stones,
      bonds, securities,  evidences of debts, debentures,  scrip,  certificates,
      interim  receipts,  warrants,  rights,  puts, calls,  straddles,  spreads,
      transfers, coupons, drafts, bills of exchange, acceptances, notes, checks,
      withdrawal  orders,  money orders,  warehouse  receipts,  bills of lading,
      conditional  sales  contracts,  abstracts  of title,  insurance  policies,
      deeds,  mortgages  under real estate  and/or  chattels and upon  interests
      therein, and assignments of such policies,  mortgages and instruments, and
      other valuable  papers,  including books of account and other records used
      by the Insured in the conduct of its business,  and all other  instruments
      similar  to or  in  the  nature  of  the  foregoing  including  Electronic
      Representations  of such  instruments  enumerated above (but excluding all
      data processing  records) in which the Insured has an interest or in which
      the Insured  acquired  or should have  acquired an interest by reason of a
      predecessor's  declared  financial  condition at the time of the Insured's
      consolidation or merger with, or purchase of the principal assets of, such
      predecessor  or which are held by the  Insured  for any  purpose or in any
      capacity  and whether so held  gratuitously  or not and whether or not the
      Insured is liable therefor.

(c)   "Forgery" means the signing of the name of another with intent to deceive;
      it does  not

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      include  the signing of one's own name with or without  authority,  in any
      capacity, for any purpose.

(d)   "Larceny and  Embezzlement" as it applies to any named Insured means those
      acts as set forth in Section 37 of the Investment Company Act of 1940.

(e)   "Items of  Deposit"  means any one or more  checks  and  drafts.  Items of
      Deposit shall not be deemed  uncollectible until the Insured's  collection
      procedures have failed.

SECTION 2. EXCLUSIONS THIS BOND, DOES NOT COVER:

      (a)   loss  effected  directly  or  indirectly  by  means  of  forgery  or
            alteration  of, on or in any  instrument,  except  when  covered  by
            Insuring Agreement (A), (E), (F) or (G).

      (b)   loss due to riot or civil  commotion  outside  the United  States of
            America and Canada; or loss due to military, naval or usurped power,
            war or  insurrection  unless  such  loss  occurs in  transit  in the
            circumstances  recited in Insuring  Agreement (D), and unless,  when
            such  transit was  initiated,  there was no  knowledge of such riot,
            civil   commotion,   military,   naval  or  usurped  power,  war  or
            insurrection  on the part of any person  acting  for the  Insured in
            initiating such transit.

      (c)   loss, in time of peace or war,  directly or indirectly  caused by or
            resulting  from  the  effects  of  nuclear   fission  or  fusion  or
            radioactivity;  provided,  however,  that this  paragraph  shall not
            apply to loss resulting from industrial uses of nuclear energy.

      (d)   loss  resulting from any wrongful act or acts of any person who is a
            member of the Board of  Directors  of the Insured or a member of any
            equivalent  body by whatsoever name known unless such person is also
            an Employee or an elected official,  partial owner or partner of the
            Insured in some other  capacity,  nor, in any event,  loss resulting
            from the act or acts of any person while acting in the capacity of a
            member of such Board or equivalent body.

      (e)   loss  resulting  from the  complete  or partial  non-payment  of, or
            default upon, any loan or transaction in the nature of, or amounting
            to,  a loan  made by or  obtained  from  the  Insured  or any of its
            partners, directors or Employees, whether authorized or unauthorized
            and whether procured in good faith or through trick,  artifice fraud
            or false  pretenses,  unless  such loss is  covered  under  Insuring
            Agreement (A), (E) or (F).

      (f)   loss resulting from any violation by the Insured or by any Employee:

            (1)   of law  regulating  (a)  the  issuance,  purchase  or  sale of
                  securities,   (b)   securities   transactions   upon  Security
                  Exchanges  or  over  the  counter   market,   (c)   Investment
                  Companies,  or (d) Investment Advisors,  or

            (2)   of any rule or regulation, made pursuant to any such law.

            unless such loss, in the absence of such laws, rules or regulations,
            would be covered under  Insuring  Agreements (A) or (E).

      (g)   loss of Property or loss of privileges  through the  misplacement or
            loss of Property as set forth in Insuring Agreement (C) or (D) while
            the Property is in the custody of any armored motor vehicle company,
            unless  such  loss  shall be in excess of the  amount  recovered  or
            received by the Insured under (a) the  Insured's  contract with said
            armored motor vehicle company, (b) insurance carried by said armored
            motor vehicle  company for the benefit of users of its service,  and
            (c) all other  insurance and  indemnity in force in whatsoever  form
            carried by or for the benefit of users of said armored motor vehicle
            company's service, and then this bond shall cover only such excess.

      (h)   potential  income,   including  but  not  limited  to  interest  and
            dividends,  not  realized by the Insured  because of a loss  covered
            under this bond,  except as included under  Insuring  Agreement (I).

      (i)   all  damages of any type for which the  Insured  is legally  liable,
            except direct compensatory damages arising from a loss covered under
            this bond.

      (j)   loss through the  surrender  of Property  away from an office of the
            Insured as a result of a threat:

            (1)   to do bodily  harm to any  person,  except loss of Property in
                  transit  in the  custody  of any  person  acting as  messenger
                  provided  that when such  transit was  initiated  there was no
                  knowledge by the Insured of any such threat, or

            (2)   to do damage  to the  premises  or  Property  of the  Insured,
                  except when covered under Insuring Agreement (A).

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(k)   all costs, fees and other expenses incurred by the Insured in establishing
      the  existence  of or amount of loss  covered  under this bond unless such
      indemnity is provided for under Insuring Agreement (B).

(l)   loss  resulting  from payments made or  withdrawals  from the account of a
      customer of the Insured,  shareholder  or subscriber  to shares  involving
      funds erroneously credited to such account,  unless such payments are made
      to or withdrawn by such depositors or representative  of such person,  who
      is within the  premises  of the drawee  bank of the  Insured or within the
      office of the Insured at the time of such payment or  withdrawal or unless
      such  payment  is  covered  under  Insuring  Agreement  (A).

(m)   any loss  resulting  from  Uncollectible  Items of Deposit which are drawn
      from a financial institution outside the fifty states of the United States
      of America,  District of Columbia,  and territories and possessions of the
      United States of America, and Canada.

SECTION 3. ASSIGNMENT OF RIGHTS

This  bond does not  afford  coverage  in favor of any  Employers  of  temporary
personnel or of processors as set forth in  sub-sections  (6) and (7) of Section
l(a) of this  bond,  as  aforesaid,  and  upon  payment  to the  Insured  by the
Underwriter  on account  of any loss  through  dishonest  or  fraudulent  act(s)
including Larceny or Embezzlement committed by any of the partners,  officers or
employees of such  Employers,  whether acting alone or in collusion with others,
an  assignment  of such of the  Insured's  rights and causes of action as it may
have against such  Employers by reason of such acts so committed  shall,  to the
extent of such  payment,  be given by the  Insured to the  Underwriter,  and the
Insured  shall  execute all papers  necessary to secure to the  Underwriter  the
rights herein provided for.

SECTION 4. LOSS - NOTICE - PROOF - LEGAL PROCEEDINGS

This  bond  is for  the  use  and  benefit  only  of the  Insured  named  in the
Declarations  and  the  Underwriter  shall  not be  liable  hereunder  for  loss
sustained  by anyone  other than the  Insured  unless the  Insured,  in its sole
discretion and at its option,  shall include such loss in the Insured's proof of
loss. At the earliest  practicable  moment after discovery of any loss hereunder
the Insured shall give the  Underwriter  written  notice  thereof and shall also
within six months after such discovery  furnish to the  Underwriter  affirmative
proof of loss with full  particulars.  If claim is made under this bond for loss
of securities or shares, the Underwriter shall not be liable unless each of such
securities or shares is  identified  in such proof of loss by a  certificate  or
bond number or,  where such  securities  or shares are  uncertificated,  by such
identification means as agreed to by the Underwriter. The Underwriter shall have
thirty  days after  notice and proof of loss  within  which to  investigate  the
claim,  but  where the loss is clear and  undisputed,  settlement  shall be made
within forty-eight hours; and this shall apply  notwithstanding the loss is made
up wholly or in part of securities of which  duplicates  may be obtained.  Legal
proceedings for recovery of any loss hereunder shall not be brought prior to the
expiration of sixty days after such proof of loss is filed with the  Underwriter
nor after the expiration of twenty-four  months from the discovery of such loss,
except that any action or  proceedings  to recover  hereunder  on account of any
judgment against the Insured in any suit mentioned in General  Agreement C or to
recover attorneys' fees paid in any such suit, shall be begun within twenty-four
months from the date upon which the judgment in such suit shall become final. If
any limitation  embodied in this bond is prohibited by any law  controlling  the
construction  hereof,  such limitation shall be deemed to be amended so as to be
equal to the minimum period of limitation permitted by such law.

      Discovery occurs when the Insured:

      (a)   becomes aware of facts, or

      (b)   receives  written notice of an actual or potential  claim by a third
            party which alleges that the Insured is liable under circumstances,

which would cause a reasonable  person to assume that a loss covered by the bond
has been or will be incurred even though the exact amount or details of loss may
not be then known.

SECTION 5. VALUATION OF PROPERTY

The value of any Property, except books of accounts or other records used by the
Insured in the conduct of its  business,  for the loss of which a claim shall be
made hereunder, shall be determined by the average market value of such Property
on the  business  day next  preceding  the  discovery  of such  loss;  provided,
however,  that the value of any  Property  replaced by the Insured  prior to the
payment  of claim  therefor  shall  be the  actual  market  value at the time of
replacement;  and further  provided  that in case of a loss or  misplacement  of
interim certificates,  warrants,  rights, or other securities, the production of
which is necessary to the exercise of  subscription,  conversion,  redemption or
deposit  privileges,  the  value  thereof  shall  be the  market  value  of such
privileges

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immediately preceding the expiration thereof if said loss or misplacement is not
discovered until after their  expiration.  If no market price is quoted for such
Property or for such privileges,  the value shall be fixed by agreement  between
the parties or by arbitration.

In case of any loss or damage to  Property  consisting  of books of  accounts or
other  records  used  by  the  Insured  in the  conduct  of  its  business,  the
Underwriter  shall be liable  under this bond only if such books or records  are
actually  reproduced  and then for not more than the cost of blank books,  blank
pages or other materials plus the cost of labor for the actual  transcription or
copying  of data  which  shall have been  furnished  by the  Insured in order to
reproduce such books and other records.

SECTION 6. VALUATION OF PREMISES AND FURNISHINGS

In case of damage  to any  office  of the  Insured,  or loss of or damage to the
furnishings, fixtures, stationery, supplies, equipment, safes or vaults therein,
the Underwriter shall not be liable for more than the actual cash value thereof,
or for more than the actual cost of their replacement or repair. The Underwriter
may, at its  election,  pay such actual cash value or make such  replacement  or
repair.  If the underwriter and the Insured cannot agree upon such cash value or
such cost of replacement or repair, such shall be determined by arbitration.

SECTION 7. LOST SECURITIES

If the Insured shall sustain a loss of securities the total value of which is in
excess  of the limit  stated in Item 3 of the  Declarations  of this  bond,  the
liability of the Underwriter shall be limited to payment for, or duplication of,
securities  having value equal to the limit stated in Item 3 of the Declarations
of this bond.

If the Underwriter shall make payment to the Insured for any loss of securities,
the Insured  shall  thereupon  assign to the  Underwriter  all of the  Insured's
rights, title and interest in and to said securities.

With  respect to  securities  the value of which do not  exceed  the  Deductible
Amount (at the time of the discovery of the loss) and for which the  Underwriter
may at its sole  discretion and option and at the request of the Insured issue a
Lost Instrument Bond or Bonds to effect  replacement  thereof,  the Insured will
pay the usual  premium  charged  therefor  and will  indemnify  the  Underwriter
against all loss or expense  that the  Underwriter  may  sustain  because of the
issuance of such Lost Instrument  Bond or Bonds.

With respect to securities the value of which exceeds the Deductible  Amount (at
the time of  discovery of the loss) and for which the  Underwriter  may issue or
arrange  for  the  issuance  of a  Lost  Instrument  Bond  or  Bonds  to  effect
replacement  thereof,  the Insured agrees that it will pay as premium therefor a
proportion of the usual premium charged therefor, said proportion being equal to
the percentage  that the Deductible  Amount bears to the value of the securities
upon  discovery of the loss,  and that it will indemnify the issuer of said Lost
Instrument  Bond or Bonds  against all loss and expense that is not  recoverable
from the Underwriter  under the terms and conditions of this Investment  Company
Blanket Bond subject to the Limit of Liability hereunder.

SECTION 8. SALVAGE

in case of  recovery,  whether  made by the  Insured or by the  Underwriter,  on
account  of any loss in  excess  of the Limit of  Liability  hereunder  plus the
Deductible   Amount  applicable  to  such  loss,  from  any  source  other  than
suretyship,  insurance,  reinsurance,  security or indemnity taken by or for the
benefit of the  Underwriter,  the net amount of such  recovery,  less the actual
costs and expenses of making same,  shall be applied to reimburse the Insured in
full for the excess portion of such loss,  and the  remainder,  if any, shall be
paid first in  reimbursement  of the Underwriter and thereafter in reimbursement
of the  Insured  for that part of such loss within the  Deductible  Amount.  The
Insured  shall  execute all necessary  papers to secure to the  Underwriter  the
rights provided for herein.

SECTION 9. NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY

At all times prior to termination  hereof, this bond shall continue in force for
the limit stated in the  applicable  sections of Item 3 of the  Declarations  of
this bond  notwithstanding  any previous loss for which the Underwriter may have
paid or be liable to pay hereunder;  PROVIDED,  however,  that regardless of the
number of years this bond  shall  continue  in force and the number or  premiums
which shall be payable or paid, the liability of the Underwriter under this bond
with respect to all loss resulting from:

      (a)   any one act of burglary,  robbery or holdup, or attempt thereat,  in
            which no Partner or Employee is  concerned  or  implicated  shall be
            deemed to be one loss, or

      (b)   any one  unintentional  or  negligent  act on the part of any  other
            person  resulting in damage to or  destruction  or  misplacement  of
            Property, shall be deemed to be one loss, or

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      (c)   all wrongful acts,  other than those  specified in (a) above, of any
            one person shall be deemed to be one loss, or

      (d)   all wrongful acts,  other than those  specified in (a) above, of one
            or more  persons  (which  dishonest  act(s) or act(s) of  Larceny or
            Embezzlement  include,  but are not  limited  to, the  failure of an
            Employee to report such acts of others) whose  dishonest act or acts
            intentionally or unintentionally, knowingly or unknowingly, directly
            or indirectly,  aid or aids in any way, or permits the  continuation
            of, the  dishonest  act or acts of any other person or persons shall
            be deemed to be one loss with the act or acts of the persons  aided,
            or

      (e)   any one casualty or event other than those  specified  in (a),  (b),
            (c) or (d)  preceding,  shall be deemed to be one loss, and

shall be limited to the  applicable  Limit of Liability  stated in Item 3 of the
Declarations  of this  bond  irrespective  of the  total  amount of such loss or
losses and shall not be  cumulative  in amounts from year to year or from period
to period.

Sub-section  (c) is not  applicable  to any  situation  to which the language of
sub-section (d) applies.

SECTION 10. LIMIT OF LIABILITY

With respect to any loss set forth in the  PROVIDED  clause of Section 9 of this
bond which is recoverable or recovered in whole or in part under any other bonds
or policies  issued by the  Underwriter to the Insured or to any  predecessor in
interest of the Insured and  terminated or cancelled or allowed to expire and in
which  the  period  of  discovery  has not  expired  at the time  any such  loss
thereunder is discovered, the total liability of the Underwriter under this bond
and under other bonds or policies shall not exceed, in the aggregate, the amount
carried hereunder on such loss or the amount available to the Insured under such
other bonds or policies, as limited by the terms and conditions thereof, for any
such loss if the latter amount be the larger.

SECTION 11.  OTHER INSURANCE

If the Insured shall hold, as indemnity against any loss covered hereunder, any
valid and enforceable insurance or suretyship, the Underwriter shall be liable
hereunder only for such amount of such loss which is in excess of the amount of
such other insurance or suretyship, not exceeding, however, the Limit of
Liability of this bond applicable to such loss.

SECTION 12. DEDUCTIBLE

The Underwriter shall not be liable under any of the Insuring Agreements of this
bond on account of loss as specified,  respectively,  in sub-sections  (a), (b),
(c), (d) and (e) of Section 9,  NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY
AND TOTAL  LIABILITY,  unless the amount of such loss,  after  deducting the net
amount of all  reimbursement  and/or  recovery  obtained or made by the Insured,
other than from any bond or policy of insurance  issued by an insurance  company
and  covering  such loss,  or by the  Underwriter  on account  thereof  prior to
payment by the Underwriter of such loss, shall exceed the Deductible  Amount set
forth in Item 3 of the Declarations  hereof (herein called  Deductible  Amount),
and then for such  excess  only,  but in no event for more than the  applicable
Limit of Liability stated in Item 3 of the Declarations.

The Insured will bear, in addition to the  Deductible  Amount,  premiums on Lost
Instrument  Bonds as set  forth  in  Section  7.

There shall be no deductible  applicable to any loss under Insuring  Agreement A
sustained by any Investment Company named as Insured herein.

SECTION 13. TERMINATION

The  Underwriter  may terminate  this bond as an entirety by furnishing  written
notice  specifying the termination  date, which cannot be prior to 60 days after
the receipt of such written notice by each  Investment  Company named as Insured
and the Securities  and Exchange  Commission,  Washington,  D.C. The Insured may
terminate  this  bond  as an  entirety  by  furnishing  written  notice  to  the
Underwriter.  When the Insured cancels, the Insured shall furnish written notice
to the Securities and Exchange  Commission,  Washington,  D.C., prior to 60 days
before the effective date of the termination.  The Underwriter  shall notify all
other  Investment  Companies named as Insured of the receipt of such termination
notice and the termination cannot be effective prior to 60 days after receipt of
written notice by all other Investment Companies.  Premiums are earned until the
termination  date as set forth  herein.

This Bond will terminate as to any one Insured  immediately  upon taking over of
such Insured by a receiver or other liquidator or by State or Federal officials,
or immediately  upon the filing of a petition under any State or Federal statute
relative to bankruptcy or reorganization  of the Insured,  or assignment for the
benefit of creditors of the Insured, or immediately upon such Insured ceasing to
exist,  whether through merger into another entity,  or by disposition of all of
its assets.

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The  Underwriter  shall refund the unearned  premium  computed at short rates in
accordance with the standard short rate cancellation tables if terminated by the
Insured  or pro  rata if  terminated  for any  other  reason.

      This Bond shall terminate:

      (a)   as to any  Employee as soon as any partner,  officer or  supervisory
            Employee of the Insured, who is not in collusion with such Employee,
            shall learn of any dishonest or fraudulent act(s), including Larceny
            or  Embezzlement on the part of such Employee  without  prejudice to
            the loss of any  Property  then in  transit  in the  custody of such
            Employee  (see  Section  16(d)),  or

      (b)   as to any Employee 60 days after  receipt by each Insured and by the
            Securities  and  Exchange  Commission  of a written  notice from the
            Underwriter  of  its  desire  to  terminate  this  bond  as to  such
            Employee,  or

      (c)   as to any  person,  who is a  partner,  officer or  employee  of any
            Electronic  Data Processor  covered under this bond,  from and after
            the time that the Insured or any  partner or officer  thereof not in
            collusion with such person shall have knowledge or information  that
            such  person has  committed  any  dishonest  or  fraudulent  act(s),
            including  Larceny or  Embezzlement in the service of the Insured or
            otherwise,  whether such act be  committed  before or after the time
            this bond is effective.

SECTION 14. RIGHTS AFTER TERMINATION OR CANCELLATION

At any  time  prior  to the  termination  or  cancellation  of  this  bond as an
entirety,  whether by the  Insured or the  Underwrite,  the Insured may give the
Underwriter  notice that it desires under this bond an  additional  period of 12
months  within  which to discover  loss  sustained  by the Insured  prior to the
effective date of such  termination or cancellation  and shall pay an additional
premium therefor.

Upon receipt of such notice from the  Insured,  the  Underwriter  shall give its
written consent thereto; provided,  however, that such additional period of time
shall  terminate  immediately:

      (a)   on  the  effective  date  of any  other  insurance  obtained  by the
            Insured, its successor in business or any other party,  replacing in
            whole or in part the insurance afforded by this bond, whether or not
            such other insurance  provides  coverage for loss sustained prior to
            its effective  date, or

      (b)   upon  takeover  of the  Insured's  business  by any State or Federal
            official  or agency,  or by any  receiver or  liquidator,  acting or
            appointed for this purpose  without the necessity of the Underwriter
            giving notice of such termination. In the event that such additional
            period of time is terminated,  as provided  above,  the  Underwriter
            shall  refund  any  unearned  premium.

The right to purchase such  additional  period for the discovery of loss may not
be  exercised  by any State or Federal  official or agency,  or by a receiver or
liquidator,  acting or  appointed  to take over the  Insured's  business for the
operation or for the liquidation thereof or for any purpose.

SECTION 15. CENTRAL HANDLING OF SECURITIES

Securities  included  in the  system  for the  central  handling  of  securities
established and maintained by Depository Trust Company, Midwest Depository Trust
Company,   Pacific  Securities   Depository  Trust  Company,   and  Philadelphia
Depository Trust Company, hereinafter called Corporations,  to the extent of the
Insured's  interest therein as effected by the making of appropriate  entries on
the books and records of such Corporations shall be deemed to be Property.

The words  "Employee" and  "Employees"  shall be deemed to include the officers,
partners,  clerks and other  employees  of the New York Stock  Exchange,  Boston
Stock Exchange,  Midwest Stock Exchange, Pacific Stock Exchange and Philadelphia
Stock  Exchange,   hereinafter   called  Exchanges,   and  of  the  above  named
Corporations,  and of any  nominee  in whose  name is  registered  any  security
included within the systems for the central  handling of securities  established
and maintained by such Corporations,  and any employee or any recognized service
company, while such officers, partners, clerks and other employees and employees
of service  companies perform services for such Corporations in the operation of
such  systems.  For the purpose of the above  definition  a  recognized  service
company  shall be any company  providing  clerks or other  personnel to the said
Exchanges or Corporations on a contract basis.

The  Underwriter  shall not be liable on account of any  loss(es) in  connection
with the central  handling of  securities  within the  systems  established  and
maintained by such Corporations,  unless such loss(es) shall be in excess of the
amount(s)  recoverable  or  recovered  under  any bond or  policy  of  insurance
indemnifying such Corporations  against such loss(es),  and then the Underwriter
shall be liable hereunder

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only for the Insured's share of such excess  loss(es),  but in no event for more
than the Limit of Liability applicable hereunder.

For the purpose of determining  the Insured's  share of excess loss(es) it shall
be deemed that the Insured has an interest in any certificate  representing  any
security  included  within such systems  equivalent  to the interest the Insured
then has in all certificates representing the same security included within such
systems and that such Corporations shall use their best judgment in apportioning
the  amount(s)  recoverable  or recovered  under any bond or policy of insurance
indemnifying  such  Corporations  against such loss(es) in  connection  with the
central  handling of  securities  within such systems  among all those having an
interest  as recorded  by  appropriate  entries in the books and records of such
Corporations  in Property  involved in such loss(es) on the basis that each such
interest  shall share in the amount(s) so  recoverable or recovered in the ratio
that the value of each such interest bears to the total value all such interests
and that the Insured's  share of such excess loss(es) shall be the amount of the
Insured's interest in such Property in excess of the amount(s) so apportioned to
the Insured by such Corporations.

This bond does not afford coverage in favor of such Corporations or Exchanges or
any nominee in whose name is registered any security included within the systems
for the central  handling  of  securities  established  and  maintained  by such
Corporations,  and upon payment to the Insured by the  Underwriter on account of
any loss(es) within the systems,  an assignment of such of the Insured's  rights
and causes of action as it may have against such Corporations or Exchanges shall
to the extent of such payment,  be given by the Insured to the Underwriter,  and
the Insured shall  execute all papers  necessary to secure the  Underwriter  the
rights provided for herein.

SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED

If more than one  corporation,  co-partnership  or person or any  combination of
them be included as the Insured herein:

      (a)   the total liability of the Underwriter  hereunder for loss or losses
            sustained  by any one or more or all of them  shall not  exceed  the
            limit for which the  Underwriter  would be liable  hereunder  if all
            such loss were sustained by any one of them;

      (b)   the one  first  named  herein  shall be deemed  authorized  to make,
            adjust and receive and enforce  payment of all claims  hereunder and
            shall be deemed to be the agent of the others for such  purposes and
            for the giving or receiving  of any notice  required or permitted to
            be given by the terms hereof,  provided that the  Underwriter  shall
            furnish  each named  Investment  Company with a copy of the bond and
            with any  amendment  thereto,  together  with a copy of each  formal
            filing of the  settlement  of each such claim prior to the execution
            of such settlement;

      (c)   the Underwriter shall not be responsible for the proper  application
            of any  payment  made  hereunder  to said first named  Insured;

      (d)   knowledge  possessed  or discovery  made by any partner,  officer of
            supervisory  Employee  of any  Insured  shall  for the  purposes  of
            Section  4 and  Section  13 of this  bond  constitute  knowledge  or
            discovery by all the Insured; and

      (e)   if the first named Insured ceases for any reason to be covered under
            this  bond,  then  the  Insured  next  named  shall   thereafter  be
            considered  as the first,  named  Insured  for the  purposes of this
            bond.

SECTION 17. NOTICE AND CHANGE OF CONTROL

Upon the Insured  obtaining  knowledge of a transfer of its  outstanding  voting
securities  which  results in a change in control (as set forth in Section  2(a)
(9) of the  Investment  Company Act of 1940) of the Insured,  the Insured  shall
within thirty (30) days of such knowledge give written notice to the Underwriter
setting forth:

      (a)   the names of the  transferors  and  transferees (or the names of the
            beneficial  owners if the voting securities are requested in another
            name),  and

      (b)   the total number of voting  securities  owned by the transferors and
            the transferees (or the beneficial owners),  both immediately before
            and after the transfer, and

      (c)   the total number of outstanding voting securities.

As used in this  section,  control  means the power to  exercise  a  controlling
influence  over the  management or policies of the Insured.

Failing to give the required  notice shall result in  termination of coverage of
this bond,  effective  upon the date of stock transfer for any loss in which any
transferee is concerned or implicated.

Such notice is not  required  to be given in the case of an Insured  which is an
Investment Company.

ICB005 Ed. 7-04                     11 of 12
(C) 2004 The St. Paul Travelers Companies, Inc. All Right Reserved



SECTION 18. CHANGE OR MODIFICATION

This bond or any  instrument  amending or  effecting  same may not be changed or
modified orally. No changes in or modification thereof shall be effective unless
made by written  endorsement  issued to form a part hereof over the signature of
the  Underwriter's  Authorized  Representative.  When a  bond  covers  only  one
Investment  Company no change or modification  which would adversely  affect the
rights of the  Investment  Company  shall be  effective  prior to 60 days  after
written   notification  has  been  furnished  to  the  Securities  and  Exchange
Commission, Washington, D.C., by the Insured or by the Underwriter. If more than
one Investment  Company is named as the Insured herein,  the  Underwriter  shall
give  written  notice  to each  Investment  Company  and to the  Securities  and
Exchange  Commission,  Washington,  D.C.,  not  less  than 60 days  prior to the
effective date of any change or modification  which would  adversely  affect the
rights of such Investment Company.

ICB005 Ed. 7-04                     12 of 12
(C) 2004 The St. Paul Travelers Companies, Inc. All Right Reserved



                           ENDORSEMENT OR RIDER NO. 1
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

      The following spaces proceeded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



-------------------------------------------------------------------------------------------------------
Attached to and Forming Part of    Date Endorsement or Rider   * Effective Date of Endorsement or Rider
      Bond Or Policy No.                   Executed                         12:01 A.M. Standard Time as
                                                                        Specified in the Bond or Policy
                                                         
          490PB1120                        04/24/07              03/14/07
-------------------------------------------------------------------------------------------------------


* ISSUED TO

WISDOMTREE TRUST
--------------------------------------------------------------------------------

                            Named Insured Endorsement

It is agreed that:

1.    From and after the time this rider becomes effective the Insured under the
      attached bond are:

      WisdomTree LargeCap Dividend Fund
      WisdomTree High-Yielding Equity Fund
      WisdomTree Dividend Top 100 Fund
      WisdomTree SmallCap Dividend Fund
      WisdomTree Total Dividend Fund
      WisdomTree MidCap Dividend Fund

      Earnings Top 100 Fund
      Low P/E Fund
      WisdomTree Total Earnings Fund
      WisdomTree Earnings 500 Fund
      WisdomTree SmallCap Earnings Fund
      WisdomTree MidCap Earnings Fund

      WisdomTree International Dividend Top 100 Fund
      WisdomTree International SmallCap Dividend Fund
      WisdomTree DIEFA High-Yielding Equity Fund
      WisdomTree Europe SmallCap Dividend Fund
      WisdomTree DIEFA Fund
      WisdomTree International MidCap Dividend Fund
      WisdomTree International LargeCap Dividend Fund
      WisdomTree Japan SmallCap Dividend Fund
      WisdomTree Pacific ex-Japan High-Yielding Equity Fund
      WisdomTree Pacific ex-Japan Total Dividend Fund
      WisdomTree Europe High-Yielding Equity Fund
      WisdomTree Japan Total Dividend Fund
      WisdomTree Europe Total Dividend Fund
      WisdomTree Japan High-Yielding Equity Fund

      WisdomTree International Industrial Sector Fund
      WisdomTree International Communications Sector Fund
      WisdomTree International Utilities Sector Fund
      WisdomTree International Consumer Non-Cyclical Sector Fund
      WisdomTree International Energy Sector Funds
      WisdomTree International Health Care Sector Fund
      WisdomTree International Basic Materials Sector Fund
      WisdomTree International Consumer Cyclical Sector Fund
      WisdomTree International Financial Sector Fund
      WisdomTree International Technology Sector Fund

ICB010 Ed. 7/04                   Page 1 of 2



2.    The first named  Insured  shall act for itself and for each and all of the
      Insured for all the purposes of the attached bond.

3.    Knowledge  possessed or discovery made by any Insured or by any partner or
      officer thereof shall for all the purposes of the attached bond constitute
      knowledge or discovery by all the Insured.

4.    If, prior to the  termination  of the attached bond in its  entirety,  the
      attached bond is terminated as to any Insured, there shall be no liability
      for any loss sustained by such Insured unless  discovered  before the time
      such termination as to such Insured becomes effective.

5.    The liability of the  Underwriter  for loss or losses  sustained by any or
      all of the Insured  shall not exceed the amount for which the  Underwriter
      would be liable had all such loss or losses been  sustained  by any one of
      the Insured. Payment by the Underwriter to the first named Insured of loss
      sustained by any Insured shall fully release the Underwriter on account of
      such  loss.

6.    If the first named  Insured  ceases for any reason to be covered under the
      attached bond, then the Insured next named shall  thereafter be considered
      as the first named Insured for all the purposes of the attached bond.


Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                                            By
                                               ---------------------------------
                                                   Authorized Representative

ICB0l0 Ed. 7/04                   Page 2 of 2



                           ENDORSEMENT OR RIDER NO. 2
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

     The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



--------------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING     DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.     RIDER EXECUTED                           12:01 A.M. STANDARD TIME AS
                                                                        SPECIFIED IN THE BOND OR POLICY
                                             
      490PB1507                   04/24/07            03/14/07
--------------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE TRUST
--------------------------------------------------------------------------------------------------------


                                Computer Systems

It is agreed that:

1.    The attached bond is amended by adding an additional Insuring Agreement as
      follows:

                      INSURING AGREEMENT J COMPUTER SYSTEMS

      Loss resulting directly from a fraudulent

      (1)   entry of data into, or

      (2)   change of data elements or program within a Computer System listed
            in the SCHEDULE below, provided the fraudulent entry or change
            causes

            (a)   Property to be transferred, paid or delivered,

            (b)   an account of the Insured,  or of its  customer,  to be added,
                  deleted, debited or credited, or

            (c)   an unauthorized  account or a fictitious account to be debited
                  or credited,  and provided  further,  the fraudulent  entry or
                  change  is made or  caused by an  individual  acting  with the
                  manifest intent to

                  (i)   cause the Insured to sustain a loss, and

                  (ii)  obtain  financial  benefit  for that  individual  or for
                        other  persons  intended by that  individual  to receive
                        financial benefit.

                                    SCHEDULE

All systems utilized by the Insured

2.    As used in this Rider, Computer System means

            (a)   computers  with  related  peripheral   components,   including
                  storage components, wherever located,

            (b)   systems and applications software,

            (c)   terminal devices, and

            (d)   related communication networks

      by which data are electronically collected, transmitted, processed, stored
      and retrieved.

3.    In  addition  to  the  exclusions  in the  attached  bond,  the  following
      exclusions are applicable to this Insuring Agreement:

            (a)   loss  resulting  directly  or  indirectly  from  the  theft of
                  confidential information, material or data; and

ICB011 Ed. 7-04                       Page 1 of 2
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



            (b)   loss resulting directly or indirectly from entries or changes
                  made by an individual authorized to have access to a Computer
                  System who acts in good faith on instructions, unless such
                  instructions are given to that individual by a software
                  contractor (or by a partner, officer or employee thereof)
                  authorized by the Insured to design, develop, prepare, supply,
                  service, write or implement programs for the Insured's
                  Computer System.

4.    The  following  portions of the attached  bond are not  applicable to this
      Rider:

            (a)   the portion preceding the Insuring  Agreements which reads "at
                  any time but discovered during the Bond Period";

            (b)   Section 9 NONREDUCTION  AND  NON-ACCUMULATION  OF LIABILITY of
                  the Conditions and Limitations; and

            (c)   Section  10  LIMIT  OF   LIABILITY  of  the   Conditions   and
                  Limitations.

5.    The coverage afforded by this Rider applies only to loss discovered by the
      Insured during the period this Rider is in force.

6.    All loss or series of losses  involving  the  fraudulent  activity  of one
      individual,  or involving fraudulent activity,  in which one individual is
      implicated,  whether or not that  individual is  specifically  identified,
      shall be treated as one loss.  A series of losses  involving  unidentified
      individuals but arising from the same method of operation may be deemed by
      the  Underwriter to involve the same individual and in that event shall be
      treated as one loss.

7.    The Limit of Liability  for the  coverage  provided by this Rider shall be
      TWO MILLION FIVE HUNDRED THOUSAND

      Dollars ($2,500,000 ), it being understood,  however,  that such liability
      shall be a part of and not in addition to the Limit of Liability stated in
      Item 3 of the Declarations of the attached bond or any amendment thereof.

8.    The Underwriter shall be liable hereunder for the amount by which one loss
      exceeds the Deductible  Amount applicable to the attached bond, but not in
      excess of the Limit of Liability stated above.

9.    If any  loss is  covered  under  this  Insuring  Agreement  and any  other
      Insuring  Agreement or Coverage,  the maximum amount payable for such loss
      shall not exceed  the  largest  amount  available  under any one  Insuring
      Agreement or Coverage.

10.   Coverage under this Rider shall terminate upon termination or cancellation
      of the bond to which this Rider is attached. Coverage under this Rider may
      also be terminated or canceled without canceling the bond as an entirety

      (a)   60 days after  receipt by the  Insured  of written  notice  from the
            Underwriter of its desire to terminate or cancel coverage under this
            Rider, or

      (b)   immediately  upon receipt by the  Underwriter  of a written  request
            from the Insured to terminate or cancel coverage under this Rider.

      The Underwriter  shall refund to the Insured the unearned  premium for the
      coverage under this Rider.  The refund shall be computed at short rates if
      this Rider be  terminated or canceled or reduced by notice from, or at the
      instance of, the Insured.

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                                         By
                                            ------------------------------------
                                                 Authorized Representative

ICB011 Ed. 7-04                       Page 2 of 2
(C) 2004 The St. Paul Travelers Companies, Inc. All Right Reserved



                           ENDORSEMENT OR RIDER NO. 3
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

     The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



---------------------------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING     DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.     RIDER EXECUTED                           12:01 A.M. STANDARD TIME AS
                                                                        SPECIFIED IN THE BOND OR POLICY
                                             
    490PB1507                  04/24/07              03/14/07
---------------------------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE  TRUST
---------------------------------------------------------------------------------------------------------------------


                             Unauthorized Signatures

It is agreed that:

1.    The attached bond is amended by inserting an additional Insuring Agreement
      as follows:

                   INSURING AGREEMENT M UNAUTHORIZED SIGNATURE

      (A)   Loss resulting  directly from the Insured having  accepted,  paid or
            cashed  any check or  withdrawal  order,  draft,  made or drawn on a
            customer's  account which bears the signature or  endorsement of one
            other than a person whose name and  signature is on the  application
            on file with the Insured as a signatory on such account.

      (B)   It shall be a condition precedent to the Insured's right of recovery
            under this Rider that the Insured  shall have on file  signatures of
            all persons who are authorized signatories on such account.

2.    The total  liability  of the  Underwriter  under  Insuring  Agreement M is
      limited  to  the  sum  of  FIFTY  THOUSAND  Dollars  ($50,000),  it  being
      understood,  however,  that  such  liability  shall  be part of and not in
      addition to the Limit of Liability stated in Item 3 of the Declarations of
      the attached bond or amendment thereof.

3.    With respect to coverage  afforded under this Rider, the Deductible Amount
      shall be FIVE THOUSAND Dollars ($5,000).

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                                          By
                                             -----------------------------------
                                                 Authorized Representative

ICB012 Ed. 7-04
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



                           ENDORSEMENT OR RIDER NO. 4
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

      The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



---------------------------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING     DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.      RIDER EXECUTED                          12:01 A.M. STANDARD TIME AS
                                                                        SPECIFIED IN THE BOND OR POLICY
                                             
      490PB1507                   04/24/07           03/14/07
---------------------------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE TRUST
---------------------------------------------------------------------------------------------------------------------


                           Telefacsimile Transactions

It is agreed that:

1.    The attached Bond is amended by adding an additional Insuring Agreement as
      follows:

      INSURING AGREEMENT L TELEFACSIMILE TRANSACTIONS

      Loss  caused by a  Telefacsimile  Transaction,  where the request for such
      Telefacsimile  Transaction is  unauthorized or fraudulent and is made with
      the manifest intent to deceive;  provided,  that the entity which receives
      such request  generally  maintains and follows  during the Bond Period all
      Designated Fax Procedures with respect to Telefacsimile Transactions.  The
      isolated  failure  of such  entity to  maintain  and  follow a  particular
      Designated  Fax  Procedure  in a  particular  instance  will not  preclude
      coverage under this Insuring  Agreement,  subject to the exclusions herein
      and in the Bond.

2.    Definitions.  The following  terms used in this Insuring  Agreement  shall
      have the following meanings:

      a.    "Telefacsimile   System"   means  a  system  of   transmitting   and
            reproducing  fixed graphic  material (as, for example,  printing) by
            means of signals transmitted over telephone lines.

      b.    "Telefacsimile  Transaction" means any Fax Redemption, Fax Election,
            Fax Exchange, or Fax Purchase.

      c.    "Fax  Redemption"  means  any  redemption  of  shares  issued  by an
            Investment  Company  which  is  requested  through  a  Telefacsimile
            System.

      d.    "Fax  Election"  means  any  election  concerning  dividend  options
            available  to  Fund  shareholders   which  is  requested  through  a
            Telefacsimile System.

      e.    "Fax Exchange" means any exchange of shares in a registered  account
            of one Fund into  shares in an  identically  registered  account  of
            another Fund in the same complex pursuant to exchange  privileges of
            the two Funds,  which exchange is requested  through a Telefacsimile
            System.

      f.    "Fax Purchase"  means any purchase of shares issued by an Investment
            Company which is requested through a Telefacsimile System.

      g.    "Designated Fax Procedures" means the following procedures:

            (1)   Retention:  All  Telefacsimile  Transaction  requests shall be
                  retained  for at  least  six (6)  months.  Requests  shall  be
                  capable of being retrieved and produced in legible form within
                  a reasonable time after retrieval is requested.

            (2)   Identity Test: The identity of the sender in any request for a
                  Telefacsimile  Transaction  shall be tested  before  executing
                  that Telefacsimile Transaction, either by requiring the sender
                  to include on the face of the request a unique  identification
                  number  or  to  include  key  specific  account   information.
                  Requests  of  Dealers  must be on  company  letterhead  and be
                  signed  by  an  authorized  representative.   Transactions  by
                  occasional users are to be verified by telephone confirmation.

ICB013 Ed. 7-04                            Page 1 of 2
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



            (3)   Contents:  A Telefacsimile  Transaction  shall not be executed
                  unless the request for such Telefacsimile Transaction is dated
                  and  purports  to have been signed by (a) any  shareholder  or
                  subscriber to shares issued by a Fund, or (b) any financial or
                  banking institution or stockbroker.

            (4)   Written   Confirmation:   A  written   confirmation   of  each
                  Telefacsimile  Transaction shall be sent to the shareholder(s)
                  to whose account such Telefacsimile  Transaction  relates,  at
                  the record  address,  by the end of the Insured's next regular
                  processing  cycle,  but no later than five (5)  business  days
                  following such Telefacsimile Transaction.

      i.    "Designated"  means or refers to a written  designation  signed by a
            shareholder  of  record  of a Fund,  either  in  such  shareholder's
            initial application for the purchase of Fund shares, with or without
            a  Signature  Guarantee,  or in another  document  with a  Signature
            Guarantee.

      j.    "Signature  Guarantee"  means a written  guarantee  of a  signature,
            which  guarantee  is made by an Eligible  Guarantor  Institution  as
            defined in Rule 17Ad-15(a)(2)  under the Securities  Exchange Act of
            1934.

3.    Exclusions.  It is  further  understood  and  agreed  that  this  Insuring
      Agreement shall not cover:

      a.    Any loss covered under  Insuring  Agreement A,  "Fidelity,"  of this
            Bond; and

      b.    Any loss resulting from:

            (1)   Any Fax Redemption, where the proceeds of such redemption were
                  requested  to be paid or made  payable  to other  than (a) the
                  shareholder  of  record,  or (b) a  person  Designated  in the
                  initial  application  or in writing at least one (1) day prior
                  to such redemption to receive  redemption  proceeds,  or (c) a
                  bank  account  Designated  in the  initial  application  or in
                  writing  at  least  one (1) day  prior to such  redemption  to
                  receive redemption proceeds; or

            (2)   Any Fax  Redemption  of Fund shares which had been  improperly
                  credited to a shareholder's  account,  where such  shareholder
                  (a) did not cause,  directly or indirectly,  such shares to be
                  credited  to such  account,  and (b)  directly  or  indirectly
                  received any proceeds or other  benefit from such  redemption;
                  or

            (3)   Any Fax  Redemption  from any  account,  where the proceeds of
                  such redemption were requested to be sent to any address other
                  than the record  address or another  address for such  account
                  which   was   designated   (a)  over  the   telephone   or  by
                  telefacsimile  at  least  fifteen  (15)  days  prior  to  such
                  redemption, or (b) in the initial application or in writing at
                  least one (1) day prior to such redemption; or

            (4)   The  intentional  failure to adhere to one or more  Designated
                  Fax Procedures; or

            (5)   The failure to pay for shares attempted to be purchased.

4.    The Single Loss Limit of Liability  under Insuring  Agreement L is limited
      to the sum of TWO MILLION FIVE HUNDRED  THOUSAND  Dollars  ($2,500,000) it
      being understood, however, that such liability shall be part of and not in
      addition to the Limit of Liability stated in Item 3 of the Declarations of
      the attached Bond or amendments thereof.

5.    With respect to coverage  afforded under this Rider the applicable  Single
      loss Deductible Amount is FIFTEEN THOUSAND Dollars ($15,000).

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                                          By
                                             -----------------------------------
                                                 Authorized Representative

ICB013 Ed. 7-04                            Page 2 of 2
(C) 2004 The St. Paul Travelers Companies, Inc. All Right Reserved



                           ENDORSEMENT OR RIDER NO. 5
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

      The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



---------------------------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING     DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.     RIDER EXECUTED                           12:01 A.M. STANDARD TIME AS
                                                                        SPECIFIED IN THE BOND OR POLICY
                                             
        490PB1507                 04/24/07           03/14/07
---------------------------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE TRUST

---------------------------------------------------------------------------------------------------------------------


                          Voice Initiated Transactions

It is agreed that:

1.    The attached bond is amended by inserting an additional Insuring Agreement
      as follows:

               INSURING AGREEMENT K - VOICE-INITIATED TRANSACTIONS

      Loss caused by a Voice-initiated  Transaction,  where the request for such
      Voice-initiated Transaction is unauthorized or fraudulent and is made with
      the manifest intent to deceive;  provided,  that the entity which receives
      such request  generally  maintains and follows  during the Bond Period all
      Designated Procedures with respect to Voice-initiated  Redemptions and the
      Designated  Procedures described in paragraph 2f (1) and (3) of this Rider
      with  respect  to all other  Voice-initiated  Transactions.  The  isolated
      failure of such  entity to  maintain  and follow a  particular  Designated
      Procedure in a particular  instance will not preclude  coverage under this
      Insuring  Agreement,  subject to the specific exclusions herein and in the
      Bond.

2.    Definitions.  The following  terms used in this Insuring  Agreement  shall
      have the following meanings:

      a.    "Voice-initiated  Transaction" means any Voice-initiated Redemption,
            Voice-initiated     Election,     Voice-initiated    Exchange,    or
            Voice-initiated Purchase.

      b.    "Voice-initiated  Redemption"  means any redemption of shares issued
            by an  Investment  Company  which is  requested  by  voice  over the
            telephone.

      c.    "Voice-initiated  Election" means any election  concerning  dividend
            options available to Fund  shareholders  which is requested by voice
            over the telephone.

      d.    "Voice-initiated  Exchange"  means  any  exchange  of  shares  in  a
            registered  account  of  one  Fund  into  shares  in an  identically
            registered  account of another Fund in the same complex  pursuant to
            exchange privileges of the two Funds, which exchange is requested by
            voice over the telephone.

      e.    "Voice-initiated Purchase" means any purchase of shares issued by an
            Investment Company which is requested by voice over the telephone.

      f.    "Designated Procedures" means the following procedures:

            (1)   Recordings: All Voice-initiated  Transaction requests shall be
                  recorded,  and the  recordings  shall be retained for at least
                  six (6) months.  Information contained on the recordings shall
                  be capable of being retrieved and produced within a reasonable
                  time after retrieval of specific information is requested,  at
                  a success rate of no less than 85%.

            (2)   Identity Test:  The identity of the caller in any request for
                  a Voice-initiated  Redemption shall be tested before executing
                  that  Voice-initiated  Redemption,  either by  requesting  the
                  caller to state a unique  identification  number or to furnish
                  key specific account information.

            (3)   Written   Confirmation:   A  written   confirmation   of  each
                  Voice-initiated  Transaction  and of each change of the record
                  address  of a Fund  shareholder  requested  by voice  over the
                  telephone  shall  be  mailed  to the  shareholder(s)  to whose
                  account such Voice-initiated  Transaction or change of address
                  relates,  at the original  record address (and, in the case of
                  such change of address,  at the changed record address) by the
                  end of the Insured's  next regular  processing  cycle,  but no
                  later   than   five   (5)   business   days   following   such
                  Voice-initiated Transaction or change of address.

ICB014 Ed. 7-04                            Page 1 of 2
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



      g.    "Investment   Company"  or  "Fund"  means  an   investment   company
            registered under the Investment Company Act of 1940.

      h.    "Officially  Designated"  means or refers  to a written  designation
            signed  by a  shareholder  of  record  of a  Fund,  either  in  such
            shareholder's  initial  application for the purchase of Fund shares,
            with or without a Signature Guarantee, or in another document with a
            Signature Guarantee.

      i.    "Signature  Guarantee"  means a written  guarantee  of a  signature,
            which guarantee is made by a financial or banking  institution whose
            deposits are insured by the Federal Deposit Insurance Corporation or
            by a broker  which is a member of any national  securities  exchange
            registered under the Securities Exchange Act of 1934.

3.    Exclusions.  It is  further  understood  and  agreed  that  this  Insuring
      Agreement shall not cover:

      a.    Any loss covered under Insuring  Agreement A,  "Fidelity,  " of this
            Bond; and

      b.    Any loss resulting from:

            (1)   Any  Voice-initiated  Redemption,  where the  proceeds of such
                  redemption  were requested to be paid or made payable to other
                  than (a) the shareholder of record, or (b) a person Officially
                  Designated  to  receive  redemption  proceeds,  or  (c) a bank
                  account Officially  Designated to receive redemption proceeds;
                  or

            (2)   Any  Voice-initiated  Redemption of Fund shares which had been
                  improperly  credited to a  shareholder's  account,  where such
                  shareholder  (a) did not cause,  directly or indirectly,  such
                  shares to be credited  to such  account,  and (b)  directly or
                  indirectly  received any  proceeds or other  benefit from such
                  redemption; or

            (3)   Any  Voice-initiated  Redemption  from any account,  where the
                  proceeds of such  redemption  were requested to be sent (a) to
                  any address other than the record address for such account, or
                  (b) to a record  address for such account which was either (i)
                  designated  over the  telephone  fewer than  thirty  (30) days
                  prior to such  redemption,  or (ii) designated in writing less
                  than on (1) day prior to such redemption; or

            (4)   The  intentional  failure to adhere to one or more  Designated
                  Procedures; or

            (5)   The failure to pay for shares attempted to be purchased; or

            (6)   Any  Voice-initiated  Transaction  requested by voice over the
                  telephone and received by an automated  system which  receives
                  and converts such request to executable instructions.

4.    The total  liability  of the  Underwriter  under  Insuring  Agreement K is
      limited  to  the  sum  of  TWO  MILLION  FIVE  HUNDRED   THOUSAND  Dollars
      ($2,500,000),  it being understood,  however, that such liability shall be
      part of and not in addition to the Limit of Liability  stated in Item 3 of
      the Declarations of the attached bond or amendment thereof.

5.    With respect to coverage afforded under this Rider the applicable
      Deductible Amount is FIFTEEN THOUSAND Dollars ($15,000).

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                                          By
                                             -----------------------------------
                                                 Authorized Representative

ICB014 Ed. 7-04                            Page 2 of 2
(C) 2004 The St. Paul Travelers Companies, Inc. All Right Reserved



                           ENDORSEMENT OR RIDER NO. 6
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

      The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



-----------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING      DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.      RIDER EXECUTED                       12:01 A.M. STANDARD TIME AS
                                                                      SPECIFIED IN THE BOND OR POLICY
                                              
       490PB1507                   04/24/07            03/14/07
-----------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE TRUST
-----------------------------------------------------------------------------------------------------


   Amend Definition of Employee (Exclude EDP Coverage for Computer Software or
                                    Programs)

It is agreed that:

1.    Sub-section 7 of Section l(a) in the Definition of Employee, is deleted
      and replaced by the following:

      (7)   "each  natural  person,  partnership  or  corporation  authorized by
            written agreement with the Insured to perform services as electronic
            data processor of checks or other accounting  records of the Insured
            (does not include the creating, preparing,  modifying or maintaining
            the Insured's computer software or programs), but excluding any such
            processor who acts as transfer agent or in any other agency capacity
            in issuing  checks,  drafts or  securities  for the Insured,  unless
            included under sub-section (9) hereof, and"

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                               By
                                  ----------------------------------------------
                                            Authorized Representative

ICB015 Ed. 7-04
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



                           ENDORSEMENT OR RIDER NO. 7
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

      The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



-----------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING      DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.      RIDER EXECUTED                       12:01 A.M. STANDARD TIME AS
                                                                      SPECIFIED IN THE BOND OR POLICY
                                              
       490PB1507                    04/24/07           03/14/07
-----------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE TRUST
-----------------------------------------------------------------------------------------------------


                        Definition of Investment Company

It is agreed that:

1.    Section 1, Definitions, under General Agreements is amended to include the
      following paragraph:

      (f)   Investment  Company means an investment company registered under the
            Investment  Company  Act of 1940 and as  listed  under  the names of
            Insureds on the Declarations.

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                               By
                                  ----------------------------------------------
                                            Authorized Representative

ICB016 Ed. 7-04
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



                           ENDORSEMENT OR RIDER NO. 8
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

      The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



-----------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING      DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.      RIDER EXECUTED                       12:01 A.M. STANDARD TIME AS
                                                                      SPECIFIED IN THE BOND OR POLICY
                                              
        490PB1507                   04/24/07           03/14/07
-----------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE TRUST
-----------------------------------------------------------------------------------------------------


    Amend Section 2. - Exclusions - Loss reporting after termination of Bond

It is agreed that:

1.    Section 2.  Exclusions,  of the CONDITIONS  AND  LIMITATIONS is amended to
      include the following subsection:

      (X)   loss not reported to the Company in writing  within thirty days (30)
            days after the termination of this bond as an entirety

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                               By
                                  ----------------------------------------------
                                            Authorized Representative

ICB017 Ed. 7-04
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



                            ENDORSEMENT OR RIDER NO.
         THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

      The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



-----------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING      DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.      RIDER EXECUTED                       12:01 A.M. STANDARD TIME AS
                                                                      SPECIFIED IN THE BOND OR POLICY
                                              
       490PB1507                    04/24/07           03/14/07
-----------------------------------------------------------------------------------------------------
* ISSUED TO

WISDOMTREE TRUST
-----------------------------------------------------------------------------------------------------


                            Add Exclusions (n) & (o)

It is agreed that:

1.    Section 2, Exclusions, under General Agreements, is amended to include the
      following sub-sections:

      (n)   loss from the use of credit,  debit,  charge,  access,  convenience,
            identification,  cash management or other cards,  whether such cards
            were  issued or  purport  to have been  issued by the  Insured or by
            anyone else,  unless such loss is otherwise  covered under  Insuring
            Agreement A.

      (o)   the underwriter shall not be liable under the attached bond for loss
            due to  liability  imposed  upon  the  Insured  as a  result  of the
            unlawful  disclosure  of  non-public  material  information  by  the
            Insured or any Employee,  or as a result of any Employee acting upon
            such information, whether authorized or unauthorized.

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                               By
                                  ----------------------------------------------
                                            Authorized Representative

ICB026 Ed. 7-04
(C) 2004 The St. Paul Travelers Companies, Inc. All Rights Reserved



      The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.



-----------------------------------------------------------------------------------------------------
 ATTACHED TO AND FORMING      DATE ENDORSEMENT OR   * EFFECTIVE DATE OF ENDORSEMENT OR RIDER
PART OF BOND OR POLICY NO.      RIDER EXECUTED                       12:01 A.M. LOCAL TIME AS
                                                                      SPECIFIED IN THE BOND OR POLICY
                                              
       490PB1507                    04/24/07           03/14/07
-----------------------------------------------------------------------------------------------------

* ISSUED TO

WISDOMTREE TRUST
-----------------------------------------------------------------------------------------------------


               AMEND SECTION 13. - TERMINATION AS TO ANY EMPLOYEE

                                MEL3274 Ed. 7-05

                          For use with ICB005 Ed. 7-04

It is agreed that:

1.    Sub-sections (a), (b) & (c) of Section 13. TERMINATION under CONDITIONS
      AND LIMITATIONS, are deleted in their entirety, and the following is
      substituted in lieu thereof:

      Upon the detection by any Insured that such Employee has committed any
      dishonest or fraudulent act(s) or theft, the Insured shall immediately
      remove such Employee from a position that may enable such Employee to
      cause the Insured to suffer a loss by any subsequent dishonest or
      fraudulent act(s) or theft. The Insured, within forty-eight (48) hours of
      such detection, shall notify the Underwriter with full and complete
      particulars of the detected dishonest or fraudulent act(s) or theft, or

      For purposes of this section, detection occurs when any partner, officer,
      or supervisory Employee of any Insured, who is not in collusion with such
      (detected) Employee, becomes aware that the (detected) Employee has
      committed any dishonest or fraudulent act(s) or theft.

      This Bond shall terminate as to any Employee by written notice to each
      Insured and to the Securities and Exchange Commission from the Underwriter
      of not less than sixty (60) days prior to the effective date of
      termination specified in such notice.

Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.

                               By
                                  ----------------------------------------------
                                            Authorized Representative

(C) 2005 The St. Paul Travelers Companies, Inc. All Rights Reserved