SP Funds S&P 500 Sharia Industry Exclusions ETF
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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
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 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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%
- Dividend Yield 0.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSP Funds S&P 500 Sharia Industry Exclusions ETF
-
Fund Family NameSP Funds
-
Inception DateDec 17, 2019
-
Shares Outstanding5175000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerNaushad 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.”
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
- Apple Inc 10.94%
- Microsoft Corp 10.27%
- NVIDIA Corp 9.73%
- Amazon.com Inc 5.42%
- Meta Platforms Inc 3.79%
- Alphabet Inc 3.18%
- Alphabet Inc 2.67%
- Eli Lilly Co 2.54%
- Broadcom Inc 2.35%
- 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
Date | Amount | Type |
---|---|---|
Oct 28, 2024 | $0.026 | OrdinaryDividend |
Sep 26, 2024 | $0.026 | OrdinaryDividend |
Aug 27, 2024 | $0.026 | OrdinaryDividend |
Jul 26, 2024 | $0.026 | OrdinaryDividend |
Jun 26, 2024 | $0.026 | OrdinaryDividend |
Apr 25, 2024 | $0.026 | OrdinaryDividend |
Mar 26, 2024 | $0.026 | OrdinaryDividend |
Feb 26, 2024 | $0.026 | OrdinaryDividend |
Jan 26, 2024 | $0.026 | OrdinaryDividend |
Dec 26, 2023 | $0.012 | OrdinaryDividend |
Nov 27, 2023 | $0.026 | OrdinaryDividend |
Oct 26, 2023 | $0.026 | OrdinaryDividend |
Sep 26, 2023 | $0.026 | OrdinaryDividend |
Aug 28, 2023 | $0.026 | OrdinaryDividend |
Jul 26, 2023 | $0.026 | OrdinaryDividend |
Jun 27, 2023 | $0.026 | OrdinaryDividend |
May 25, 2023 | $0.026 | OrdinaryDividend |
Apr 25, 2023 | $0.026 | OrdinaryDividend |
Mar 28, 2023 | $0.026 | OrdinaryDividend |
Feb 23, 2023 | $0.026 | OrdinaryDividend |
Jan 26, 2023 | $0.026 | OrdinaryDividend |
Dec 27, 2022 | $0.026 | OrdinaryDividend |
Nov 25, 2022 | $0.026 | OrdinaryDividend |
Oct 26, 2022 | $0.026 | OrdinaryDividend |
Sep 27, 2022 | $0.026 | OrdinaryDividend |
Aug 26, 2022 | $0.026 | OrdinaryDividend |
Jul 26, 2022 | $0.026 | OrdinaryDividend |
Jun 27, 2022 | $0.026 | OrdinaryDividend |
May 26, 2022 | $0.026 | OrdinaryDividend |
Apr 26, 2022 | $0.026 | OrdinaryDividend |
Mar 28, 2022 | $0.026 | OrdinaryDividend |
Feb 23, 2022 | $0.026 | OrdinaryDividend |
Jan 26, 2022 | $0.026 | OrdinaryDividend |
Dec 28, 2021 | $0.100 | OrdinaryDividend |
Dec 01, 2021 | $0.026 | OrdinaryDividend |
Oct 26, 2021 | $0.026 | OrdinaryDividend |
Sep 27, 2021 | $0.026 | OrdinaryDividend |
Aug 26, 2021 | $0.026 | OrdinaryDividend |
Jul 27, 2021 | $0.026 | OrdinaryDividend |
Jun 25, 2021 | $0.026 | OrdinaryDividend |
May 25, 2021 | $0.026 | OrdinaryDividend |
Apr 27, 2021 | $0.026 | OrdinaryDividend |
Mar 26, 2021 | $0.026 | OrdinaryDividend |
Feb 23, 2021 | $0.026 | OrdinaryDividend |
Jan 26, 2021 | $0.026 | OrdinaryDividend |
Dec 28, 2020 | $0.026 | OrdinaryDividend |
Dec 01, 2020 | $0.026 | OrdinaryDividend |
Oct 21, 2020 | $0.026 | OrdinaryDividend |
Sep 23, 2020 | $0.026 | OrdinaryDividend |
Aug 19, 2020 | $0.026 | OrdinaryDividend |
Jul 22, 2020 | $0.026 | OrdinaryDividend |
Jun 24, 2020 | $0.027 | OrdinaryDividend |
May 20, 2020 | $0.026 | OrdinaryDividend |
Apr 22, 2020 | $0.005 | OrdinaryDividend |
Mar 25, 2020 | $0.047 | OrdinaryDividend |
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 |