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Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Wahed FTSE USA Shariah ETF

HLAL | ETF

$52.30

$394 M

1.30%

$0.68

0.50%

Vitals

YTD Return

15.5%

1 yr return

20.5%

3 Yr Avg Return

8.6%

5 Yr Avg Return

16.0%

Net Assets

$394 M

Holdings in Top 10

52.8%

52 WEEK LOW AND HIGH

$52.3
$43.64
$52.97

Expenses

OPERATING FEES

Expense Ratio 0.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Wahed FTSE USA Shariah ETF

HLAL | ETF

$52.30

$394 M

1.30%

$0.68

0.50%

HLAL - Profile

Distributions

  • YTD Total Return 15.5%
  • 3 Yr Annualized Total Return 8.6%
  • 5 Yr Annualized Total Return 16.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.08%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Wahed FTSE USA Shariah ETF
  • Fund Family Name
    Wahed Invest
  • Inception Date
    Jul 15, 2019
  • Shares Outstanding
    4350000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Samim Abedi

Fund Description

The Fund seeks to track the total return performance, before fees and expenses, of the Index. The Index is composed of common stocks of large- and mid-capitalization U.S. companies the characteristics of which meet the requirements of Shariah and are consistent with Islamic principles as interpreted by subject-matter experts (each, a “Shariah-compliant company”).
FTSE Shariah USA Index
The Index is constructed using an objective, rules-based methodology and is comprised of those companies included in the FTSE USA Index that are determined to be Shariah-compliant companies based on their business activities and certain financial ratios, as described below. The Shariah-compliant companies are then weighted in the Index according to their market capitalization.
Companies that receive income in excess of 5% of their total revenue from Shariah-prohibited activities are removed from the list of companies eligible for inclusion in the Index. Examples of such activities include:
•Conventional finance (non-Islamic banking, finance and insurance, etc.);
•Alcohol production or sale;
•Pork-related products and non-halal food production, packaging, and processing or any other activity related to pork and non-halal food;
•Casino management, gambling, or adult entertainment;
•Tobacco manufacturing or sale; and
•Weapons, arms, and other defense manufacturing.
Only those companies that pass the following financial ratios will be considered Shariah-compliant:
•Debt is less than 33.333% of total assets;
•Cash and interest-bearing items are less than 33.333% of total assets;
•Accounts receivable and cash are less than 50% of total assets; and
•Total interest and non-compliant activities income should not exceed 5% of total revenue.
The Index constituents are reviewed on an ongoing and annual basis to ensure that they continue to be Shariah-compliant companies. The Index is reconstituted quarterly. If it is discovered during an ongoing review that a non-compliant security has been included in the Index in error, the security is removed from the Index and the Fund within two business days following the discovery of the error. The Index’s constituent securities are also reviewed on both an ongoing basis and annual basis by a Shariah consultant, Yasaar Limited, to determine if any of the constituents should be considered for potential income remediation or “Purification.” Purification is the process by which an investor donates certain income earned from his or her investment in the Fund because certain of the Fund’s investments unintentionally earned small amounts of income deemed to be prohibited by Shariah principles, such as interest income.  As discussed under “Dividend Purification,” the Fund publishes on its website the per share amount to be purified on a quarterly basis.
The Fund’s Investment Strategy
The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s total assets will be invested in the component securities of the Index. Wahed Invest LLC (the “Adviser”), the Fund’s investment adviser, expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund generally will invest in all of the component securities of the Index in approximately the same proportions as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole, when the Adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations such as tax diversification requirements that apply to the Fund but not to the Index).
The Fund generally may invest up to 20% of its total assets in securities or other investments not included in the Index, but which comply with Shariah principles and which the Adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions). The Fund may also invest up to 20% of its total assets in cash and other investments, such as cash equivalents and shares of other investment companies, each of which will be compatible with Shariah principles. Uninvested monies will be held in non-interest-bearing accounts.
To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index. The Fund is deemed to be “non-diversified,” which means that it may invest a greater percentage of its assets in the securities of a single issuer or a small number of issuers than if it was a diversified fund.
As of August 31, 2024, the Index had 217 constituents, and the four largest stocks and their weightings in the Index were Apple Inc. (15.18%), Microsoft Corp. (14.15%), Alphabet Inc. (A) (4.38%), and Alphabet Inc. (C) (3.71%).
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HLAL - Performance

Return Ranking - Trailing

Period HLAL Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% 3.5% 44.2% 87.31%
1 Yr 20.5% 6.0% 54.8% 92.71%
3 Yr 8.6%* -12.1% 15.9% 43.18%
5 Yr 16.0%* -8.1% 109.9% 10.27%
10 Yr N/A* -0.4% 52.4% 78.94%

* Annualized

Return Ranking - Calendar

Period HLAL Return Category Return Low Category Return High Rank in Category (%)
2023 29.1% -42.6% 47.4% 2.36%
2022 -18.5% -56.3% -4.2% 20.51%
2021 27.5% -27.2% 537.8% 4.25%
2020 23.2% -22.5% 2181.7% 3.72%
2019 N/A -13.5% 40.4% N/A

Total Return Ranking - Trailing

Period HLAL Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% 3.5% 44.2% 87.31%
1 Yr 20.5% 6.0% 54.8% 92.71%
3 Yr 8.6%* -12.1% 15.9% 43.18%
5 Yr 16.0%* -8.1% 109.9% 10.27%
10 Yr N/A* -0.4% 52.4% N/A

* Annualized

Total Return Ranking - Calendar

Period HLAL Return Category Return Low Category Return High Rank in Category (%)
2023 30.1% -5.0% 47.4% 6.03%
2022 -17.6% -36.8% -2.2% 43.97%
2021 28.6% 3.0% 537.8% 23.75%
2020 24.6% -15.8% 2266.0% 5.19%
2019 N/A -0.4% 241.3% N/A

HLAL - Holdings

Concentration Analysis

HLAL Category Low Category High HLAL % Rank
Net Assets 394 M 2.34 M 1.55 T 73.44%
Number of Holdings 218 2 3963 30.79%
Net Assets in Top 10 274 M 880 K 517 B 62.39%
Weighting of Top 10 52.77% 0.3% 112.9% 6.85%

Top 10 Holdings

  1. Apple Inc 15.00%
  2. Microsoft Corp 14.15%
  3. Meta Platforms Inc 5.24%
  4. Alphabet Inc 4.42%
  5. Alphabet Inc 3.74%
  6. Tesla Inc 2.67%
  7. Exxon Mobil Corp 2.47%
  8. Johnson Johnson 1.85%
  9. Procter Gamble Co/The 1.84%
  10. Merck Co Inc 1.39%

Asset Allocation

Weighting Return Low Return High HLAL % Rank
Stocks 		99.74% 0.00% 105.85% 18.93%
Cash 		0.26% 0.00% 99.07% 75.87%
Preferred Stocks 		0.00% 0.00% 2.53% 76.36%
Other 		0.00% -13.91% 100.00% 79.85%
Convertible Bonds 		0.00% 0.00% 5.54% 75.88%
Bonds 		0.00% 0.00% 94.06% 77.82%

Stock Sector Breakdown

Weighting Return Low Return High HLAL % Rank
Technology 		34.89% 0.00% 48.94% 2.40%
Healthcare 		24.82% 0.00% 52.29% 2.48%
Energy 		10.67% 0.00% 41.64% 2.65%
Consumer Cyclical 		8.73% 0.00% 30.33% 78.58%
Industrials 		7.20% 0.00% 29.90% 89.58%
Basic Materials 		5.62% 0.00% 25.70% 9.10%
Consumer Defense 		4.91% 0.00% 47.71% 85.69%
Real Estate 		1.56% 0.00% 31.91% 75.68%
Utilities 		0.83% 0.00% 20.91% 79.90%
Communication Services 		0.77% 0.00% 27.94% 98.59%
Financial Services 		0.00% 0.00% 55.59% 99.92%

Stock Geographic Breakdown

Weighting Return Low Return High HLAL % Rank
US 		99.74% 0.00% 105.85% 15.60%
Non US 		0.00% 0.00% 64.54% 80.18%

HLAL - Expenses

Operational Fees

HLAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.01% 19.75% 74.08%
Management Fee 0.50% 0.00% 1.90% 49.22%
12b-1 Fee 0.00% 0.00% 1.00% 16.56%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

HLAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HLAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HLAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 268.00% N/A

HLAL - Distributions

Dividend Yield Analysis

HLAL Category Low Category High HLAL % Rank
Dividend Yield 1.30% 0.00% 25.47% 76.95%

Dividend Distribution Analysis

HLAL Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

HLAL Category Low Category High HLAL % Rank
Net Income Ratio 1.08% -54.00% 2.44% 28.46%

Capital Gain Distribution Analysis

HLAL Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

HLAL - Fund Manager Analysis

Managers

Samim Abedi

Start Date

Tenure

Tenure Rank

Jul 15, 2019

2.88

2.9%

Mr. Abedi has a decade of industry experience across institutional and retail asset management. Mr. Abedi began his career at J.P. Morgan in New York, New York across asset management and investment banking businesses. His roles and responsibilities included investment strategy and research, portfolio construction and manager due diligence, as well as portfolio management for non-profits (endowments and foundations), and sales and trading. Prior to joining Wahed Invest, Mr. Abedi was part of the Trading & Investment team at Google LLC, where he helped manage the company’s public investment portfolio. He earned a Bachelors (B.A.) with honors from Williams College, majoring in Economics and Anthropology, with a concentration in Middle Eastern Studies.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.24 2.42

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