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Trending ETFs

Name

As of 11/04/2024

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

$41.23

$522 M

0.76%

$0.31

0.45%

Vitals

YTD Return

21.6%

1 yr return

33.2%

3 Yr Avg Return

9.3%

5 Yr Avg Return

N/A

Net Assets

$522 M

Holdings in Top 10

52.9%

52 WEEK LOW AND HIGH

$41.3
$31.36
$42.44

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 18.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 11/04/2024

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

$41.23

$522 M

0.76%

$0.31

0.45%

SPUS - Profile

Distributions

  • YTD Total Return 21.6%
  • 3 Yr Annualized Total Return 9.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.60%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SP Funds S&P 500 Sharia Industry Exclusions ETF
  • Fund Family Name
    SP Funds
  • Inception Date
    Dec 17, 2019
  • Shares Outstanding
    5175000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Naushad Virji

Fund Description

“Principal Investment Strategies

The Fund uses a “passive management” (or indexing) approach to track the performance, before fees and expenses, of the Index.

The Index is composed of the constituents of the S&P 500 Shariah Index other than those from the following sub-industries: Aerospace & Defense, Financial Exchanges & Data, and Data Processing & Outsourced Services. The S&P 500 Shariah Index includes all Sharia-compliant constituents of the S&P 500 Index, which consists of approximately 500 leading U.S.- listed companies representing approximately 80% of the U.S. equity market capitalization. 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 500 Shariah 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 was co-developed in 2019 by S&P Dow Jones Indices LLC (the “Index Provider”), a division of S&P Global, and ShariaPortfolio, Inc. (“ShariaPortfolio” or, the “Sub-Adviser”), the Fund’s sub-adviser, and is owned and administered by the Index Provider.

The Index is rebalanced and reconstituted monthly and weighted based on the float-adjusted market capitalization of each constituent. As of February 29, 2024, the Index was composed of 260 constituents. 

The Fund’s Investment Strategy

The Fund attempts to invest all, or substantially all, of its assets in component securities of the Index. Under normal circumstances, at least 80% of the Fund’s total assets will be invested in the component securities of the Index. 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 “representative sampling” strategy to achieve its investment objective. Under a “representative sampling” strategy, the Fund 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 the Sub-Adviser has determined to exclude certain component securities in the Index due to insufficient Sharia-compliance, when replicating the Index involves practical difficulties or substantial costs, when 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). The Fund may also use a “replication strategy,” meaning the Fund will invest in all of the component securities of the Index.

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 Fund’s investment 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 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.

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.”

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SPUS - Performance

Return Ranking - Trailing

Period SPUS Return Category Return Low Category Return High Rank in Category (%)
YTD 21.6% -1.3% 40.0% 60.23%
1 Yr 33.2% 3.7% 56.8% 69.34%
3 Yr 9.3%* -27.9% 23.5% 4.98%
5 Yr N/A* -13.9% 29.5% 63.66%
10 Yr N/A* -4.9% 19.5% 78.91%

* Annualized

Return Ranking - Calendar

Period SPUS Return Category Return Low Category Return High Rank in Category (%)
2023 32.9% -74.1% 72.4% 48.87%
2022 -23.6% -85.9% 4.7% 9.94%
2021 34.2% -52.4% 60.5% 0.84%
2020 24.1% -34.3% 145.0% 58.42%
2019 N/A -6.9% 49.4% N/A

Total Return Ranking - Trailing

Period SPUS Return Category Return Low Category Return High Rank in Category (%)
YTD 21.6% -1.3% 40.0% 60.23%
1 Yr 33.2% 3.7% 56.8% 69.34%
3 Yr 9.3%* -27.9% 23.5% 4.98%
5 Yr N/A* -13.9% 29.5% N/A
10 Yr N/A* -4.9% 19.5% N/A

* Annualized

Total Return Ranking - Calendar

Period SPUS Return Category Return Low Category Return High Rank in Category (%)
2023 34.2% -4.6% 72.4% 62.53%
2022 -22.8% -61.7% 5.6% 17.30%
2021 35.9% -39.8% 118.1% 0.93%
2020 25.7% 2.8% 149.2% 82.48%
2019 N/A -5.2% 49.4% N/A

SPUS - Holdings

Concentration Analysis

SPUS Category Low Category High SPUS % Rank
Net Assets 522 M 292 K 287 B 67.63%
Number of Holdings 234 2 3061 9.00%
Net Assets in Top 10 377 M 126 K 151 B 64.27%
Weighting of Top 10 52.86% 0.7% 205.0% 52.17%

Top 10 Holdings

  1. Apple Inc 10.94%
  2. Microsoft Corp 10.27%
  3. NVIDIA Corp 9.73%
  4. Amazon.com Inc 5.42%
  5. Meta Platforms Inc 3.79%
  6. Alphabet Inc 3.18%
  7. Alphabet Inc 2.67%
  8. Eli Lilly Co 2.54%
  9. Broadcom Inc 2.35%
  10. Tesla Inc 1.97%

Asset Allocation

Weighting Return Low Return High SPUS % Rank
Stocks
99.88% 0.00% 115.30% 10.80%
Cash
0.12% 0.00% 173.52% 84.25%
Preferred Stocks
0.00% 0.00% 10.69% 51.22%
Other
0.00% -31.50% 50.35% 55.09%
Convertible Bonds
0.00% 0.00% 1.94% 44.00%
Bonds
0.00% 0.00% 102.71% 45.63%

Stock Sector Breakdown

Weighting Return Low Return High SPUS % Rank
Technology
39.40% 0.00% 65.70% 32.46%
Healthcare
16.72% 0.00% 39.76% 17.13%
Consumer Cyclical
10.05% 0.00% 62.57% 85.39%
Communication Services
9.34% 0.00% 66.40% 63.21%
Industrials
6.88% 0.00% 30.65% 42.47%
Consumer Defense
6.55% 0.00% 25.50% 14.16%
Energy
5.66% 0.00% 41.09% 7.57%
Basic Materials
3.18% 0.00% 18.91% 14.97%
Real Estate
2.22% 0.00% 16.05% 25.61%
Utilities
0.00% 0.00% 16.07% 60.60%
Financial Services
0.00% 0.00% 43.06% 99.46%

Stock Geographic Breakdown

Weighting Return Low Return High SPUS % Rank
US
99.88% 0.00% 115.30% 8.46%
Non US
0.00% 0.00% 75.51% 61.39%

SPUS - Expenses

Operational Fees

SPUS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.01% 28.71% 90.51%
Management Fee 0.45% 0.00% 1.50% 20.58%
12b-1 Fee 0.00% 0.00% 1.00% 7.84%
Administrative Fee N/A 0.01% 1.02% N/A

Sales Fees

SPUS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 8.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SPUS 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.

SPUS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 18.00% 0.00% 316.74% 22.14%

SPUS - Distributions

Dividend Yield Analysis

SPUS Category Low Category High SPUS % Rank
Dividend Yield 0.76% 0.00% 27.58% 26.31%

Dividend Distribution Analysis

SPUS Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Annual Annual

Net Income Ratio Analysis

SPUS Category Low Category High SPUS % Rank
Net Income Ratio 0.60% -6.13% 3.48% 3.96%

Capital Gain Distribution Analysis

SPUS Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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SPUS - Fund Manager Analysis

Managers

Naushad Virji


Start Date

Tenure

Tenure Rank

Dec 17, 2019

2.45

2.5%

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.

Charles Ragauss


Start Date

Tenure

Tenure Rank

Dec 17, 2019

2.45

2.5%

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

Mar 31, 2021

1.17

1.2%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.23 3.08