I had to e-mail Wisdom(?) Tree to find out the DRW distribution status for March (their website had no information). I immediately got the following response:
"DRW did not have a distribution for March. The fund invests in PFICs (Passive Foreign Investment Companies) and their losses were deducted from the distribution. Gains are added in up years and losses are subtracted in down years. The link below is a good description of these PFICs below..."
I Strongly agree with your sentiment, having been burned and sold out at a loss. I think it's worse than a turkey though....how do you explain the share appreciation after the first huge dividend miss? How now does anyone explain the relative share price stability after the second consective miss? Thanks for the link, new rule in place: nix any ETF containing "PFIC". Hope you didn't lose too much.....and considering that the share prices of the ETF went up after you sold(I assume after the fist miss), someone made $ on your sale!
I have been unable to find any crtical analysis of this ETF, any online research suggests you are getting into a honey of an investment. Of course now, the missed dividends are starting to get picked up in the public domain to adjust down the net annual dividend, but there was seemingly a 2 month lag. This is an insider's game as far as I'm concerned.