Amana Participation Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.5%
1 yr return
2.2%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
1.7%
Net Assets
$194 M
Holdings in Top 10
39.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.56%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 19.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
AMIPX - Profile
Distributions
- YTD Total Return 0.5%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 1.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.10%
- Dividend Yield 2.5%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAmana Participation Fund
-
Fund Family NameAmana
-
Inception DateSep 28, 2015
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPatrick Drum
Fund Description
Under normal conditions, the Participation Fund invests at least 80% of its total net assets in short and intermediate-term Islamic income-producing investments. Up to 25% of the Fund’s total net assets can be invested in a wholly-owned and controlled subsidiary (the “Subsidiary”) that also invests in short and intermediate-term Islamic income-producing investments. The Fund (and the Subsidiary) invests primarily in notes and certificates issued for payment by foreign governments, their agencies, and financial institutions in transactions structured to be in accordance with Islamic principles. Examples of these notes and certificates include (a) sukuk, which link the returns and cash flows of financing to the assets purchased, or the returns generated from an asset purchased, (b) murabaha, which involves a purchase and sale contract, and (c) wakala, in which accounts are operated under the Islamic finance principle of wakala (an agency agreement).
These investments typically involve the purchase of financial certificates representing investments in tangible assets, project financing, sale and leaseback arrangements, and the distribution of profits (as opposed to the payment of interest) related to the underlying asset or project. Unlike an investment in a bond that represents a promise to pay interest, these investments involve the sharing of profits and losses in the assets or projects financed by the Fund’s investment in the notes and certificates. In addition, the Fund may invest in time deposits with banks that involve underlying purchase and sale agreements to generate the return on the deposit.
Generally, Islamic principles require that investors participate in profit and loss, that they receive no usury or interest, and that they do not invest in a prohibited business. Some of the businesses not permitted are alcohol, pornography, insurance, gambling, pork processing, and interest-based banks or finance associations.
In accordance with Islamic principles, the Fund shall not purchase conventional bonds, debentures, or other interest-paying obligations of indebtedness. Islamic principles discourage speculation, and the Fund tends to hold investments for several years. Under normal circumstances the Fund maintains a dollar-weighted average maturity of two to five years.
The Participation Fund restricts its investments so that at least 50% are denominated in US dollars, with no more than 10% in any other single currency.
Under normal conditions, the Fund invests at least 65% of its assets in securities rated within the four highest grades (Aaa, Aa, A, Baa) by a nationally-recognized rating agency and may invest up to 35% in unrated and high-yield notes and certificates, which may be considered equivalent to “junk bonds.”
The Subsidiary’s principal investment strategy and principal risks of investing are identical to those of the Fund, and the Subsidiary invests principally in sukuk, murabaha, and wakala. The Fund’s investment in the Subsidiary may not exceed 25% of the value of its total net assets at the end of each quarter
of its taxable year. The Subsidiary, on a consolidated basis, is also subject to the same requirements relating to liquidity, and the timing and method of valuation of portfolio investments described elsewhere in this Prospectus and in the Statement of Additional Information. The Fund is the sole shareowner of the Subsidiary and does not expect shares of the Subsidiary to be offered or sold to other investors.
AMIPX - Performance
Return Ranking - Trailing
Period | AMIPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.5% | -2.8% | 93.3% | 63.49% |
1 Yr | 2.2% | -3.8% | 112.3% | 98.68% |
3 Yr | -0.3%* | -13.6% | 21.2% | 33.11% |
5 Yr | 1.7%* | -8.7% | 12.8% | 28.10% |
10 Yr | N/A* | -5.2% | 6.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | AMIPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -0.3% | -10.6% | 17.8% | 96.38% |
2022 | -6.4% | -29.1% | -2.4% | 1.70% |
2021 | -1.1% | -24.0% | 2.7% | 3.48% |
2020 | 3.2% | -14.0% | 9.7% | 16.19% |
2019 | 4.1% | -6.4% | 13.0% | 87.59% |
Total Return Ranking - Trailing
Period | AMIPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.5% | -2.8% | 93.3% | 63.49% |
1 Yr | 2.2% | -3.8% | 112.3% | 98.68% |
3 Yr | -0.3%* | -13.6% | 21.2% | 33.11% |
5 Yr | 1.7%* | -8.7% | 12.8% | 28.10% |
10 Yr | N/A* | -5.2% | 6.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | AMIPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.6% | -0.6% | 20.0% | 98.36% |
2022 | -4.6% | -27.6% | -1.7% | 1.70% |
2021 | 0.8% | -18.5% | 7.4% | 6.27% |
2020 | 5.8% | -7.8% | 18.0% | 39.57% |
2019 | 7.0% | -3.0% | 23.0% | 94.16% |
NAV & Total Return History
AMIPX - Holdings
Concentration Analysis
AMIPX | Category Low | Category High | AMIPX % Rank | |
---|---|---|---|---|
Net Assets | 194 M | 331 K | 14.4 B | 54.43% |
Number of Holdings | 41 | 4 | 1833 | 97.05% |
Net Assets in Top 10 | 80.9 M | -134 M | 1.25 B | 39.02% |
Weighting of Top 10 | 39.27% | 5.1% | 101.4% | 12.91% |
Top 10 Holdings
- INVCOR 5 02/01/27 EMTN 4.68%
- KFHKK V3.6 PERP 4.39%
- DIBUH 5.493 11/30/27 4.38%
- TNBMK 3.244 10/19/26 EMTN 4.17%
- RIBL V3.174 02/25/30 4.10%
- DPWDU V6 PERP 3.73%
- DUBAEE 3.75 02/15/26 REGS 3.57%
- KSA 3.628 04/20/27 REGS 3.49%
- STCAB 3.89 05/13/29 REGS 3.41%
- TABRED 5.5 10/31/25 3.36%
Asset Allocation
Weighting | Return Low | Return High | AMIPX % Rank | |
---|---|---|---|---|
Bonds | 87.35% | 0.91% | 99.54% | 87.87% |
Cash | 12.65% | 0.00% | 21.93% | 9.84% |
Stocks | 0.00% | -0.01% | 93.55% | 99.02% |
Preferred Stocks | 0.00% | 0.00% | 1.28% | 100.00% |
Other | 0.00% | -9.56% | 88.17% | 77.05% |
Convertible Bonds | 0.00% | 0.00% | 8.47% | 100.00% |
Bond Sector Breakdown
Weighting | Return Low | Return High | AMIPX % Rank | |
---|---|---|---|---|
Corporate | 63.20% | 0.00% | 93.26% | 13.25% |
Government | 18.36% | 0.00% | 99.79% | 86.42% |
Cash & Equivalents | 8.98% | 0.00% | 23.23% | 15.74% |
Derivative | 0.00% | -2.00% | 7.35% | 64.59% |
Securitized | 0.00% | 0.00% | 2.41% | 100.00% |
Municipal | 0.00% | 0.00% | 0.00% | 100.00% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | AMIPX % Rank | |
---|---|---|---|---|
US | 87.35% | -42.31% | 99.01% | 33.77% |
Non US | 0.00% | 0.00% | 132.49% | 100.00% |
AMIPX - Expenses
Operational Fees
AMIPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.56% | 0.02% | 35.56% | 91.78% |
Management Fee | 0.50% | 0.00% | 1.10% | 17.70% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.50% | 0.02% | 0.65% | 93.33% |
Sales Fees
AMIPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.75% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
AMIPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 2.00% | 41.05% |
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.
AMIPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 19.00% | 0.00% | 218.00% | 4.53% |
AMIPX - Distributions
Dividend Yield Analysis
AMIPX | Category Low | Category High | AMIPX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.55% | 0.00% | 22.11% | 86.56% |
Dividend Distribution Analysis
AMIPX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
AMIPX | Category Low | Category High | AMIPX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.10% | -2.28% | 8.00% | 97.32% |
Capital Gain Distribution Analysis
AMIPX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 29, 2024 | $0.021 | OrdinaryDividend |
Jan 31, 2024 | $0.022 | OrdinaryDividend |
Dec 29, 2023 | $0.021 | OrdinaryDividend |
Nov 30, 2023 | $0.020 | OrdinaryDividend |
Oct 31, 2023 | $0.021 | OrdinaryDividend |
Sep 29, 2023 | $0.021 | OrdinaryDividend |
Aug 31, 2023 | $0.021 | OrdinaryDividend |
Jul 31, 2023 | $0.022 | OrdinaryDividend |
Jun 30, 2023 | $0.021 | OrdinaryDividend |
May 31, 2023 | $0.071 | OrdinaryDividend |
Apr 28, 2023 | $0.018 | OrdinaryDividend |
Mar 31, 2023 | $0.014 | OrdinaryDividend |
Feb 28, 2023 | $0.014 | OrdinaryDividend |
Jan 31, 2023 | $0.013 | OrdinaryDividend |
Dec 30, 2022 | $0.014 | OrdinaryDividend |
Nov 30, 2022 | $0.012 | OrdinaryDividend |
Oct 31, 2022 | $0.013 | OrdinaryDividend |
Sep 30, 2022 | $0.013 | OrdinaryDividend |
Aug 31, 2022 | $0.013 | OrdinaryDividend |
Jul 29, 2022 | $0.012 | OrdinaryDividend |
Jun 30, 2022 | $0.011 | OrdinaryDividend |
May 31, 2022 | $0.045 | OrdinaryDividend |
Apr 29, 2022 | $0.011 | OrdinaryDividend |
Mar 16, 2022 | $0.000 | OrdinaryDividend |
Feb 28, 2022 | $0.011 | OrdinaryDividend |
Jan 31, 2022 | $0.013 | OrdinaryDividend |
Dec 31, 2021 | $0.013 | OrdinaryDividend |
Nov 30, 2021 | $0.013 | OrdinaryDividend |
Oct 29, 2021 | $0.014 | OrdinaryDividend |
Sep 30, 2021 | $0.014 | OrdinaryDividend |
Aug 31, 2021 | $0.015 | OrdinaryDividend |
Jul 30, 2021 | $0.015 | OrdinaryDividend |
Jun 30, 2021 | $0.015 | OrdinaryDividend |
May 28, 2021 | $0.017 | OrdinaryDividend |
Apr 30, 2021 | $0.018 | OrdinaryDividend |
Mar 31, 2021 | $0.018 | OrdinaryDividend |
Feb 26, 2021 | $0.017 | OrdinaryDividend |
Jan 29, 2021 | $0.018 | OrdinaryDividend |
Dec 31, 2020 | $0.019 | OrdinaryDividend |
Nov 30, 2020 | $0.018 | OrdinaryDividend |
Oct 30, 2020 | $0.018 | OrdinaryDividend |
Sep 30, 2020 | $0.019 | OrdinaryDividend |
Aug 31, 2020 | $0.020 | OrdinaryDividend |
Jul 31, 2020 | $0.019 | OrdinaryDividend |
Jun 30, 2020 | $0.019 | OrdinaryDividend |
May 29, 2020 | $0.020 | OrdinaryDividend |
Apr 30, 2020 | $0.017 | OrdinaryDividend |
Mar 31, 2020 | $0.019 | OrdinaryDividend |
Feb 28, 2020 | $0.020 | OrdinaryDividend |
Jan 31, 2020 | $0.023 | OrdinaryDividend |
Dec 31, 2019 | $0.023 | OrdinaryDividend |
Nov 29, 2019 | $0.023 | OrdinaryDividend |
Oct 31, 2019 | $0.023 | OrdinaryDividend |
Sep 30, 2019 | $0.022 | OrdinaryDividend |
Aug 30, 2019 | $0.024 | OrdinaryDividend |
Jul 31, 2019 | $0.025 | OrdinaryDividend |
May 31, 2019 | $0.023 | OrdinaryDividend |
Apr 30, 2019 | $0.023 | OrdinaryDividend |
Mar 29, 2019 | $0.023 | OrdinaryDividend |
Feb 28, 2019 | $0.020 | OrdinaryDividend |
Jan 31, 2019 | $0.023 | OrdinaryDividend |
Dec 31, 2018 | $0.023 | OrdinaryDividend |
Nov 30, 2018 | $0.021 | OrdinaryDividend |
Oct 31, 2018 | $0.021 | OrdinaryDividend |
Aug 31, 2018 | $0.022 | OrdinaryDividend |
Jul 31, 2018 | $0.023 | OrdinaryDividend |
Jun 29, 2018 | $0.021 | OrdinaryDividend |
May 31, 2018 | $0.022 | OrdinaryDividend |
Apr 30, 2018 | $0.022 | OrdinaryDividend |
Mar 29, 2018 | $0.022 | OrdinaryDividend |
Feb 28, 2018 | $0.019 | OrdinaryDividend |
Jan 31, 2018 | $0.022 | OrdinaryDividend |
Dec 29, 2017 | $0.019 | OrdinaryDividend |
Nov 30, 2017 | $0.017 | OrdinaryDividend |
Oct 31, 2017 | $0.019 | OrdinaryDividend |
Sep 29, 2017 | $0.018 | OrdinaryDividend |
Aug 31, 2017 | $0.020 | OrdinaryDividend |
Jul 31, 2017 | $0.021 | OrdinaryDividend |
Jun 30, 2017 | $0.020 | OrdinaryDividend |
May 31, 2017 | $0.023 | OrdinaryDividend |
Apr 28, 2017 | $0.018 | OrdinaryDividend |
Mar 31, 2017 | $0.023 | OrdinaryDividend |
Feb 28, 2017 | $0.019 | OrdinaryDividend |
Jan 31, 2017 | $0.020 | OrdinaryDividend |
Dec 30, 2016 | $0.019 | OrdinaryDividend |
Nov 30, 2016 | $0.017 | OrdinaryDividend |
Oct 31, 2016 | $0.017 | OrdinaryDividend |
Sep 30, 2016 | $0.017 | OrdinaryDividend |
Aug 31, 2016 | $0.022 | OrdinaryDividend |
Jul 29, 2016 | $0.021 | OrdinaryDividend |
Jun 30, 2016 | $0.021 | OrdinaryDividend |
May 31, 2016 | $0.018 | OrdinaryDividend |
Apr 29, 2016 | $0.017 | OrdinaryDividend |
Mar 31, 2016 | $0.016 | OrdinaryDividend |
Feb 29, 2016 | $0.007 | OrdinaryDividend |
Jan 29, 2016 | $0.002 | OrdinaryDividend |
AMIPX - Fund Manager Analysis
Managers
Patrick Drum
Start Date
Tenure
Tenure Rank
Sep 28, 2015
6.68
6.7%
Mr. Patrick T. Drum MBA, CFA®, CFP®, deputy portfolio manager of Sextant Global High Income Fund, joined Saturna Capital in 2014. He is also portfolio manager of Saturna Sustainable Bond Fund and Amana Participation Fund. From 2007 to 2014, Mr. Drum was a senior portfolio manager with the Arbor Group at UBS Financial Services specializing in the investment of non-US fixed income portfolios employing an ESG screening process.
Elizabeth Alm
Start Date
Tenure
Tenure Rank
May 31, 2019
3.0
3.0%
Ms. Elizabeth Alm CFA®, is a senior investment analyst and deputy portfolio manager for Saturna Capital Corporation. From 2007 to 2018, Ms. Alm was a senior research analyst with Wells Fargo Asset Management focusing on high-yield municipal bonds.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 23.87 | 6.38 | 6.11 |