SPRE
The SP Funds S&P Global REIT Sharia ETF
Why SPRE ETF?
- SP Funds S&P Global REIT Sharia ETF (SPRE) provides value exposure to real estate asset class through Sharia-compliant REITs which meets screening requirements, including Sharia-compliant business activities, lower debt levels, permissible income below acceptable levels and prescribed level of cash and marketable securities.
- Tracks the S&P Global Shariah All REIT Capped Index which includes all Sharia-compliant constituents of the S&P Global REIT
- SP Funds approach is geared towards investors and advisors focused on faith-based, socially responsible and ethical investing solutions
- Offers a strong potential for income and price returns, capital preservation and inflation hedging.
“The SP Funds S&P Global REIT Sharia ETF has joined our family of ETFs which are designed not only for investors who might be looking for halal exposure, but for any investor who is seeking value-focused portfolio as well as those who are seeking to avoid over-levered enterprises,” Naushad Virji, CEO of SP Funds.
Investment CaseFund Details
| Inception Date | 12/29/2020 |
| Ticker | SPRE |
| Primary Exchange | NYSE |
| CUSIP | 886364769 |
| IOPV Symbol | SPRE.IV |
| NAV Symbol | SPRE.NV |
| Expense Ratio | 0.59% |
| 30 Day SEC Yield * | 4.34% |
| * As of 01/31/23 | |
Fund Details & Pricing
| Net Assets as of 10/06/2022 | $27.86m |
| NAV | $18.57 |
| Shares Outstanding | 1,500,000 |
| Premium/Discount Percentage | 0.09% |
| Closing Price | $18.59 |
| Median 30 Day Spread | 0.42% |
Data as of 10/06/2022
IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.
The 30-Day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and does not reflect waivers in effect.
30 Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Performance
| AVG. ANNUALIZED | Returns as of 01/31/2023 | |||||
|---|---|---|---|---|---|---|
| 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | Since Inception | |
| Market Price | 10.01% | 11.14% | -7.21% | -14.32% | - | 6.40% |
| Fund NAV | 10.43% | 11.20% | -7.30% | -14.51% | - | 6.27% |
| Index | 10.47% | 11.34% | -7.15 | -13.88% | - | 7.11% |
| RETURNS | |||
|---|---|---|---|
| 1 Year Returns as of 12/31/2022 | YTD Returns as of 12/31/2022 | Inception to 12/31/2022 | |
| Market Price(%) | -29.48% | -29.48% | 1.73% |
| NAV Return (%) | -29.06% | -29.06% | 1.41% |
| Index | -28.48% | -28.48% | 2.21% |
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (425) 409-9500.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
Distribution Detail
| EX-Date | Record Date | Payable Date | Amount |
|---|---|---|---|
| January 26, 2022 | January 27, 2022 | January 31, 2022 | 0.0670 |
| February 23, 2022 | February 24, 2022 | February 28, 2022 | 0.0670 |
| March 28, 2022 | March 29, 2022 | March 31, 2022 | 0.0670 |
| April 26, 2022 | April 27, 2022 | April 29, 2022 | 0.0670 |
| May 26, 2022 | May 27, 2022 | May 31, 2022 | 0.0670 |
| June 27, 2022 | June 28, 2022 | June 30, 2022 | 0.0670 |
| July 26, 2022 | July 27, 2022 | July 29, 2022 | 0.0670 |
| August 26, 2022 | August 28, 2022 | August 31, 2022 | 0.0670 |
| September 27, 2022 | September 28, 2022 | September 30, 2022 | 0.0670 |
| October 26, 2022 | October 27, 2022 | October 31, 2022 | 0.0670 |
| November 25, 2022 | November 28, 2022 | November 30, 2022 | 0.0670 |
| December 27, 2022 | December 28, 2022 | December 30, 2022 | 0.0670 |
| January 26, 2023 | January 27, 2023 | January 31, 2023 | 0.0670 |
Top 10 Holdings
| Percentage Of Net Assets | Name | Identifier | CUSIP | Shares Held | Market Value |
|---|---|---|---|---|---|
| 12.30 | EQUINIX INC | EQIX | 29444U700 | 7257.00 | 4761099.99 |
| 12.22 | CROWN CASTLE INC | CCI | 22822V101 | 33991.00 | 4728488.01 |
| 11.93 | PROLOGIS INC. | PLD | 74340W103 | 39885.00 | 4617885.30 |
| 11.79 | PUBLIC STORAGE | PSA | 74460D109 | 15240.00 | 4562094.00 |
| 4.84 | MID-AMER APT CMNTYS INC | MAA | 59522J103 | 11636.00 | 1871999.68 |
| 4.83 | EQUITY RESIDENTIAL | EQR | 29476L107 | 29687.00 | 1869093.52 |
| 4.81 | AVALONBAY CMNTYS INC | AVB | 053484101 | 11026.00 | 1862291.40 |
| 4.80 | WEYERHAEUSER CO MTN BE | WY | 962166104 | 57533.00 | 1858891.23 |
| 4.07 | ESSEX PPTY TR INC | ESS | 297178105 | 7369.00 | 1575050.06 |
| 3.77 | CAMDEN PPTY TR | CPT | 133131102 | 12485.00 | 1458622.55 |
Data as of 11/23/2022. Holdings are subject to change.
As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV. The Fund is new with a limited operating history.
A real estate investment trust (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. The Fund is expected to be concentrated in REITs. Through its investments in REITs, the Fund is subject to the risks of investing in the real estate market, including decreases in property revenues, increases in interest rates, increases in property taxes and operating expenses, legal and regulatory changes, a lack of credit or capital, defaults by borrowers or tenants, environmental problems and natural disasters.
Islamic religious law commonly known as Sharia has certain restrictions regarding finance and commercial activities permitted for Muslims, including interest restrictions and prohibited industries, which reduces the size of the overall universe in which the Fund can invest. The strategy to reduce the investable universe may limit investment opportunities and adversely affect the Fund’s performance, especially in comparison to a more diversified fund.
It is not possible to invest directly in an index. Investments in emerging markets may be more volatile and less liquid than more developed markets and therefore may involve greater risks.
