The SP Funds Dow Jones Global Sukuk ETF
The world’s first SUKUK ETF
- Sukuk is a financial certificate, similar to a bond, that is Sharia-compliant. Sukuk is asset backed and does not involve interest.
- Gain value-conscious exposure to an ETF composed according to AAOIFI Sharia-compliant guidelines.
- Tracks the performance of the Dow Jones Sukuk Total Return Index.
- Offers potential diversification benefits for fixed income investors.
- Alternative risk profile: SPSK may offer investors decreased exposure to duration risk and interest rate risk.
“The global sukuk marketplace is very robust but to this point there had not been an ETF strategy for investors looking to add this type of exposure to their income-focused portfolios. We’re very pleased to be first to market with this approach,” added Virji. “Not only is this a diversifier in terms of the underlying holdings in SPSK, but the fund is also designed to provide investors with decreased exposure to duration risk and interest rate risk, important considerations as investors are finding it ever more difficult to access yield from the traditional sources.” (Yahoo Finance, Dec. 2019)
|30 Day SEC Yield *||0.9%|
|* As of 1/31/21|
Fund Details & Pricing
|Net Assets as of 02/26/2021||$34.77m|
|Median 30 Day Spread||0.15%|
Data as of 02/26/2021
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.
|AVG. ANNUALIZED||Returns as of 1/31/2021|
|1 Month||3 Month||6 Month||1 Year||3 Year||Since Incepection|
|QTD Returns as of 12/31/2020||YTD Returns as of 1/31/2021||Inception to 1/31/2021|
|NAV Return (%)||1.62%||-0.07%||3.59%|
|Market Price (%)||1.58%||-0.50%||3.34%|
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.
|EX-Date||Record Date||Payable Date||Amount|
|January 26, 2021||January 27, 2021||January 29, 2021||0.04200|
|February 23. 2021||February 24, 2021||February 26, 2021||0.04200|
|March 26, 2021||March 29, 2021||March 31, 2021|
|April 27, 2021||April 28, 2021||April 30, 2021|
|May 25, 2021||May 26, 2021||May 28, 2021|
|June 25, 2021||June 28, 2021||June 30, 2021|
|July 27, 2021||July 28, 2021||July 30, 2021|
|August 26, 2021||August 27, 2021||August 31, 2021|
|September 27, 2021||September 28, 2021||September 30, 2021|
|October 26, 2021||October 27, 2021||October 29, 2021|
|November 1, 2021||December 2, 2021||December 6, 2021|
|December 28, 2021||December 29, 2021||December 31, 2021|
Top 10 Holdings
|Percentage Of Net Assets||Name||Identifier||CUSIP||Shares Held||Market Value|
|5.11||KSA SUKUK LTD 3.628% 04/20/2027||BDHSKG3||BDHSKG3||1600000.00||1777257.60|
|4.72||KSA SUKUK LTD 2.894% 04/20/2022||BDHSKJ6||BDHSKJ6||1600000.00||1642553.60|
|2.43||KSA SUKUK LTD 2.969% 10/29/2029||BKPTPV7||BKPTPV7||800000.00||846490.40|
|1.99||KSA SUKUK LTD 4.303% 01/19/2029||BFX3CW6||BFX3CW6||600000.00||693081.00|
|1.84||IDB TRUST SERVICES 2.843% 04/25/2024||BJK43R2||BJK43R2||600000.00||639585.00|
|1.81||SOQ SUKUK A Q.S.C 3.241% 01/18/2023||B79G9P5||B79G9P5||600000.00||630399.00|
|1.80||IDB TRUST SERVICES 1.957% 10/02/2024||BK9XHD1||BK9XHD1||600000.00||624095.32|
|1.79||IDB TRUST SERVICES 1.809% 02/26/2025||BL0FH77||BL0FH77||600000.00||622476.00|
|1.48||SAUDI ELEC GL SUK3 5.5% 04/08/2044||BLCG6V5||BLCG6V5||400000.00||513217.60|
|1.41||Cash & Other||Cash&Other||Cash&Other||491619.38||491619.38|
Data as of 03/01/2021. Holdings are subject to change.
Diversification does not ensure a profit or protect against loss in declining markets.
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.
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. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid and more volatile than securities markets in more developed markets
Sukuk are financial certificates that are similar to conventional bonds but are structured to comply with Sharia law and its investments principles, which, among other things, prohibit charging or paying interest. Because no collateral is pledged as security for sukuk, purchasers of sukuk are subject to the risk that an issuer may not meet its payment obligations or that an underlying asset may not perform as expected or lose value. There may be times when the market is illiquid and it is difficult for the Fund to make an investment in or dispose of sukuk.