SP Funds S&P Global REIT Sharia ETF
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-8.4%
1 yr return
-3.0%
3 Yr Avg Return
-2.5%
5 Yr Avg Return
N/A
Net Assets
$103 M
Holdings in Top 10
76.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.55%
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 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SPRE - Profile
Distributions
- YTD Total Return -8.4%
- 3 Yr Annualized Total Return -2.5%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSP Funds S&P Global REIT Sharia ETF
-
Fund Family NameN/A
-
Inception DateDec 29, 2020
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCharles Ragauss
Fund Description
The Fund uses a “passive management” (or indexing) approach to track the performance, before fees and expenses, of the Index.
The Index includes all real estate investment trust (“REIT”) securities listed in developed and emerging markets and included as constituents of the S&P Global BMI Shariah Index, a comprehensive global Sharia-compliant index of publicly-traded equity securities. Constituents included in the S&P Global BMI Shariah Index must have a float-adjusted market capitalization of at least $100 million and an annual trading value of at least $50 million. A REIT is a security of a company that invests in real estate, either through real estate property, mortgages and similar real estate investments, or all of the foregoing. Islamic religious law commonly known as Sharia has certain restrictions regarding finance and commercial activities permitted for Muslims, including interest restrictions and prohibited industries. Constituents of the S&P Global BMI Shariah Index, and therefore constituents of the Index, have been screened for non-compliant business activities (companies that offer products and services that are not compliant with Sharia law such as gambling, alcohol, or tobacco) and compliance with certain accounting-based financial ratios (companies must satisfy financial ratios governing leverage, cash, and the share of revenues derived from non-compliant activities).
The Index is rebalanced and reconstituted monthly. Each security in the Index is subject to certain individual security weight caps. As of February 29, 2024, the Index was composed of 46 constituents, representing investments in 9 countries.
The Index was developed in 2020 by S&P Dow Jones Indices LLC (the “Index Provider”), a division of S&P Global, with active contribution by ShariaPortfolio, Inc. (the “Sub-Adviser”), the Fund’s sub-adviser. The Index is owned and administered by the Index Provider. The S&P Global BMI Shariah Index was developed in 2008 by the Index Provider and is owned and administered by the Index Provider.
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. This policy may be changed without shareholder approval upon 60 days’ written notice to shareholders. 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 generally may invest up to 20% of its total assets in Sharia-compliant securities or other Sharia-compliant investments not included in the Index, but which the Sub-Adviser believes will help the Fund track the Index. For example, the Fund may invest in Sharia-compliant securities that are not components of the Index to reflect various corporate actions and other changes to the S&P Global BMI Shariah Index (such as reconstitutions, additions, and deletions). Each investment made by the Fund is pre-screened and approved as Sharia compliant before investment by the Fund.
The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index in the same approximate 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 Fund’s investment 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 that apply to the Fund but not to the Index).
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 classified as non-diversified and therefore may invest a larger percentage of its assets in the securities of a single company or a smaller number of companies than diversified funds. The Index is expected to be concentrated (i.e., holding more than 25% of its total assets) in REITs.
The Fund is deemed to be non-diversified under the Investment Company Act of 1940, as amended (the “1940 Act”), which means that it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
SPRE - Performance
Return Ranking - Trailing
Period | SPRE Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.4% | -49.2% | 11.9% | 95.10% |
1 Yr | -3.0% | -47.4% | 116.8% | 1.40% |
3 Yr | -2.5%* | -21.4% | 30.0% | N/A |
5 Yr | N/A* | -14.5% | 17.5% | N/A |
10 Yr | N/A* | -9.4% | 11.0% | N/A |
* Annualized
Return Ranking - Calendar
Period | SPRE Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.7% | -51.3% | 81.2% | 2.11% |
2022 | -32.0% | -21.3% | 31.3% | N/A |
2021 | 39.9% | -14.7% | 41.4% | N/A |
2020 | N/A | -26.4% | 9.4% | N/A |
2019 | N/A | -10.9% | 7.8% | N/A |
Total Return Ranking - Trailing
Period | SPRE Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.4% | -49.2% | 11.9% | 95.10% |
1 Yr | -3.0% | -47.4% | 116.8% | 1.75% |
3 Yr | -2.5%* | -21.4% | 30.0% | N/A |
5 Yr | N/A* | -14.5% | 20.9% | N/A |
10 Yr | N/A* | -9.4% | 13.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | SPRE Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.4% | -51.3% | 81.2% | 2.11% |
2022 | -29.5% | -21.3% | 31.3% | N/A |
2021 | 44.8% | -14.7% | 41.4% | N/A |
2020 | N/A | -26.4% | 9.4% | N/A |
2019 | N/A | -10.7% | 8.2% | N/A |
SPRE - Holdings
Concentration Analysis
SPRE | Category Low | Category High | SPRE % Rank | |
---|---|---|---|---|
Net Assets | 103 M | 1.28 M | 78.4 B | 90.23% |
Number of Holdings | 33 | 20 | 642 | 45.27% |
Net Assets in Top 10 | 57.6 M | 7.44 K | 35.2 B | 86.49% |
Weighting of Top 10 | 76.75% | 15.9% | 99.8% | 3.81% |
Top 10 Holdings
- Crown Castle Inc 13.55%
- Prologis Inc 12.21%
- Equinix Inc 11.98%
- Public Storage 11.53%
- Equity LifeStyle Properties Inc 4.81%
- Equity Residential 4.74%
- Mid-America Apartment Communities Inc 4.69%
- AvalonBay Communities Inc 4.67%
- Weyerhaeuser Co 4.65%
- Rexford Industrial Realty Inc 3.93%
Asset Allocation
Weighting | Return Low | Return High | SPRE % Rank | |
---|---|---|---|---|
Stocks | 99.68% | 0.01% | 106.94% | 21.62% |
Cash | 0.32% | -98.06% | 25.84% | 90.20% |
Preferred Stocks | 0.00% | -0.12% | 33.96% | 62.16% |
Other | 0.00% | -1.70% | 94.17% | 21.28% |
Convertible Bonds | 0.00% | 0.00% | 10.95% | 59.12% |
Bonds | 0.00% | -3.17% | 97.45% | 61.15% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SPRE % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 9.09% | 56.23% |
Technology | 0.00% | 0.00% | 12.02% | 66.19% |
Real Estate | 0.00% | 34.46% | 100.00% | 22.06% |
Industrials | 0.00% | 0.00% | 7.39% | 59.79% |
Healthcare | 0.00% | 0.00% | 0.53% | 56.94% |
Financial Services | 0.00% | 0.00% | 37.05% | 61.21% |
Energy | 0.00% | 0.00% | 33.11% | 57.30% |
Communication Services | 0.00% | 0.00% | 11.61% | 59.79% |
Consumer Defense | 0.00% | 0.00% | 1.53% | 56.23% |
Consumer Cyclical | 0.00% | 0.00% | 45.29% | 77.94% |
Basic Materials | 0.00% | 0.00% | 13.69% | 57.65% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SPRE % Rank | |
---|---|---|---|---|
US | 95.60% | 0.01% | 101.17% | 79.73% |
Non US | 4.09% | 0.00% | 44.90% | 4.73% |
SPRE - Expenses
Operational Fees
SPRE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.55% | 0.07% | 4.72% | 80.00% |
Management Fee | 0.55% | 0.00% | 1.50% | 38.98% |
12b-1 Fee | N/A | 0.00% | 1.00% | 10.56% |
Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
SPRE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 2.25% | N/A |
Trading Fees
SPRE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 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.
SPRE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.11% | 380.00% | 74.91% |
SPRE - Distributions
Dividend Yield Analysis
SPRE | Category Low | Category High | SPRE % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 20.32% | 26.60% |
Dividend Distribution Analysis
SPRE | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
SPRE | Category Low | Category High | SPRE % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -1.14% | 6.05% | 39.72% |
Capital Gain Distribution Analysis
SPRE | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.067 | OrdinaryDividend |
Feb 29, 2024 | $0.067 | OrdinaryDividend |
Jan 31, 2024 | $0.067 | OrdinaryDividend |
Dec 29, 2023 | $0.102 | OrdinaryDividend |
Nov 30, 2023 | $0.067 | OrdinaryDividend |
Oct 31, 2023 | $0.067 | OrdinaryDividend |
Sep 29, 2023 | $0.067 | OrdinaryDividend |
Aug 31, 2023 | $0.067 | OrdinaryDividend |
Jul 31, 2023 | $0.067 | OrdinaryDividend |
Jun 30, 2023 | $0.067 | OrdinaryDividend |
May 31, 2023 | $0.067 | OrdinaryDividend |
Apr 28, 2023 | $0.067 | OrdinaryDividend |
Mar 31, 2023 | $0.067 | OrdinaryDividend |
Feb 28, 2023 | $0.067 | OrdinaryDividend |
Jan 31, 2023 | $0.067 | OrdinaryDividend |
Dec 30, 2022 | $0.067 | OrdinaryDividend |
Nov 30, 2022 | $0.067 | OrdinaryDividend |
Oct 31, 2022 | $0.067 | OrdinaryDividend |
Sep 30, 2022 | $0.067 | OrdinaryDividend |
Aug 31, 2022 | $0.067 | OrdinaryDividend |
Jul 29, 2022 | $0.067 | OrdinaryDividend |
Jun 30, 2022 | $0.067 | OrdinaryDividend |
May 31, 2022 | $0.067 | OrdinaryDividend |
Apr 29, 2022 | $0.067 | OrdinaryDividend |
Mar 31, 2022 | $0.067 | OrdinaryDividend |
Feb 28, 2022 | $0.067 | OrdinaryDividend |
Jan 28, 2022 | $0.067 | OrdinaryDividend |
Dec 31, 2021 | $0.067 | OrdinaryDividend |
Dec 06, 2021 | $0.067 | OrdinaryDividend |
Aug 31, 2021 | $0.044 | OrdinaryDividend |
Jul 30, 2021 | $0.044 | OrdinaryDividend |
Jun 30, 2021 | $0.044 | OrdinaryDividend |
May 28, 2021 | $0.044 | OrdinaryDividend |
Apr 30, 2021 | $0.044 | OrdinaryDividend |
Mar 31, 2021 | $0.044 | OrdinaryDividend |
Feb 26, 2021 | $0.044 | OrdinaryDividend |
Jan 29, 2021 | $0.044 | OrdinaryDividend |
SPRE - Fund Manager Analysis
Managers
Charles Ragauss
Start Date
Tenure
Tenure Rank
Dec 29, 2020
1.42
1.4%
Mr. Ragauss currently serves as Director of Product Management at CSat Investment Advisory, having joined the it in April 2016. Prior to joiningCSat Investment Advisory, Mr. Ragauss was Assistant Vice President at Huntington National Bank (“Huntington”), where he was Product Manager for the Huntington Funds and Huntington Strategy Shares ETFs, a combined fund complex of almost $4 billion in assets under management. At Huntington, he led ETF development bringing to market some of the first actively managed ETFs. Mr. Ragauss joined Huntington in 2010. Mr. Ragauss attended Grand Valley State University where he received his Bachelor of Business Administration in Finance and International Business, as well as a minor in French. He is a member of both the National and West Michigan CFA societies and holds the CFA designation.
Michael Venuto
Start Date
Tenure
Tenure Rank
Dec 29, 2020
1.42
1.4%
Mr. Venuto is a co-founder and has been the Chief Investment Officer of the Toroso Investments, LLC since 2012. Mr. Venuto is an ETF industry veteran with over a decade of experience in the design and implementation of ETF-based investment strategies. Previously, he was Head of Investments at Global X Funds where he provided portfolio optimization services to institutional clients. Before that, he was Senior Vice President at Horizon Kinetics where his responsibilities included new business development, investment strategy and client and strategic initiatives.
Naushad Virji
Start Date
Tenure
Tenure Rank
Dec 29, 2020
1.42
1.4%
Naushad Virji, Chief Executive Officer at ShariaPortfolio, Inc.(“SP Funds”), launched SP Funds in 2014 and ShariaPortfolio Canada, Inc. in 2019. He has also been Chief Executive Officer at Virji Investments, Inc., a registered investment advisor firm, since 2003. Mr. Virji attended the University of Florida where he received a degree in business administration.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 28.42 | 7.92 | 2.23 |