UMMA
Wahed Dow Jones Islamic World ETF
UMMA is an actively managed fund of global ex-US securities that are determined to be Shariah-compliant based on business activities and accounting criteria. Holdings are also screened to assess ESG risks.
International
EQUITY
Active
MANAGEMENT STYLE
114.3 M
ASSETS UNDER MGMT
65 bp
EXPENSES
Fund Basics
| Fund sponsor | Wahed |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 07, 2022 |
| Assets (mns) | $114 |
| Expense ratio | 65 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR-SP ADR | 10.9 % |
| NOVO NORDISK A/S-B | 4.5 % |
| SHOPIFY, INC. CLASS A | 4.3 % |
| ASML HOLDING NV | 4.0 % |
| INFINEON TECHNOLOGIES AG | 3.4 % |
| NESTLE SA-REG | 3.0 % |
| ASTRAZENECA PLC | 2.8 % |
| SAP AG | 2.7 % |
| NOVARTIS AG | 2.7 % |
| ROCHE HOLDING LTD | 2.6 % |
Constituent Breakdown
| Number of holdings | 95 |
| Herfindahl-Hirschman Index | 279 |
| Wgt avg mkt cap (mns) | $217,338 |
| Large cap (>$10bn) | 99.0% |
| Mid cap ($2-10bn) | 0.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 84.7% |
| Emerging mkts. | 15.3% |
Country Exposure
 |
JAPAN | 13.4 % |
 |
SWITZERLAND | 12.6 % |
 |
TAIWAN | 10.9 % |
 |
CANADA | 10.2 % |
 |
FRANCE | 9.1 % |
 |
BRITAIN | 9.1 % |
 |
GERMANY | 6.6 % |
 |
NETHERLANDS | 5.5 % |
 |
DENMARK | 5.2 % |
 |
AUSTRALIA | 4.8 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 13.0% | 28.2% | 24.7% | -- | -- | -- | 6.3% | Volatility | 14.7% | 15.2% | 19.2% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 72% |
| MSCI EAFE | 1.10 | 84% |
| MSCI Emg Mkts | 1.07 | 82% |
Liquidity Measures
| Avg. volume (000) | 27 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.39% |
| ADV of underlying (mns) | $32,848 |
Technical Indicators
| Recent close | $25.40 |
| 30d moving avg. | $24.83 |
| Annualized volatility | 21.6% |
| Relative strength (RSI) | 62 |
| Short interest (ETF) | 0.7% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. UMMA |
Expenses vs. UMMA |
ALTAR Score™ vs. UMMA |
|---|---|---|---|---|
| EFG | iShares MSCI EAFE Growth ETF | 50.3% | -29 bp | +0.4% |
| IDHQ | Invesco S&P International Developed High Quality ETF | 44.5% | -36 bp | +1.8% |
| IQLT | iShares MSCI Intl Quality Factor ETF | 44.0% | -35 bp | +1.7% |
| IMFL | Invesco International Developed Dynamic Multifactor ETF | 40.9% | -31 bp | +1.3% |
| DMXF | iShares ESG Advanced MSCI EAFE ETF | 39.4% | -53 bp | +1.4% |
| IEV | iShares Europe ETF | 37.7% | +2 bp | +2.0% |
| EASG | Xtrackers MSCI EAFE ESG Leaders Equity ETF | 36.2% | -51 bp | +1.7% |
| BBEU | JPMorgan BetaBuilders Europe ETF | 34.6% | -56 bp | +2.5% |
| IQSI | IQ Candriam International Equity ETF | 34.6% | -50 bp | +2.2% |
| JIRE | JPMorgan International Research Enhanced Equity ETF | 34.5% | -41 bp | +2.6% |
Risk and Returns: UMMA vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/17/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
UMMA
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
UMMA
4.4%
Cat. Avg
7.3%
ALTAR Score™ Calculation
Category Overview
There are 257 funds in the International Equity category, with an average ALTAR Score™
of 7.3% and a standard deviation of
2.5%. UMMA's ALTAR Score™ is approximately
1.2 standard deviations
below
the category average. This places UMMA in the 12nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
UMMASELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active International Equity ETFs |
| # of ETFs | 38 |
| Avg. Expense Ratio | 56.2 bp |
| Std. Deviation | 24 bp |
| UMMA (65 bp) Percentile rank | 65 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| UMMA | 65.0 | 38.8 | 103.8 |
| Peer Avg. | 60.0 | 33.4 | 93.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .