SPUS
The SP Funds S&P 500 Sharia Industry Exclusions ETF
Why SPUS ETF?
- Gain value-conscious exposure to an ETF composed according to AAOIFI Sharia-compliant guidelines.
- Tracks the performance of around 200 Sharia-compliant stocks from the S&P 500 Index
- Provides exposure to companies with low leverage and debt-to-equity ratios below 30%. These resilient companies may be better positioned to weather economic downturns.
- Offers the potential to outperform the broader market.
- Has an MSCI ESG Fund Rating of AA based on a score of 7.35 out of 10*.
“We designed our initial equity ETF not only for investors who might be looking for halal exposure, but for any investor who looks at their portfolio through a value-focused lens as well as those who seek to avoid over-levered enterprises, which can encounter serious turbulence in choppy markets,” Naushad Virji, CEO of SP Funds (Yahoo Finance, Dec. 2019)
*MSCI ESG Fund Ratings are designed to measure the Environmental, Social and Governance (ESG) characteristics of a fund’s underlying holdings, making it possible to rank or screen mutual funds and ETFs on a AAA to CCC ratings scale. Each fund or ETF scores a rating on a scale from CCC (laggard) to AAA (leader). The rating is based first on the weighted average score of the holdings of the fund or ETF. MSCI then assess ESG momentum to gain insight into the fund’s ESG track record, which is designed to indicate a fund’s exposure to holdings with a positive rating trend or worsening trend year over year. Finally, MSCI reviews the ESG tail risk to understand the fund’s exposure to holdings with worst-of-class ESG Ratings of B and CCC. The rating is not indicative of Fund performance. For more information visit https://www.msci.com/esg-fund-ratings.
Investment CaseFund Details
| Inception Date | 12/18/2019 |
| Ticker | SPUS |
| Primary Exchange | NYSE |
| CUSIP | 886364801 |
| IOPV Symbol | SPUS.IV |
| NAV Symbol | SPUS.UV |
| Expense Ratio | 0.49% |
| 30 Day SEC Yield* | 0.64% |
| As of 1/31/21 |
Fund Details & Pricing
| Net Assets as of 02/23/2021 | $50.12m |
| NAV | $25.70 |
| Shares Outstanding | 1,950,000 |
| Premium/Discount Percentage | 0.36% |
| Closing Price | $25.79 |
| Median 30 Day Spread | 0.24% |
Data as of 02/23/2021
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.
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.
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.
Performance
| AVG. ANNUALIZED | Returns as of 1/31/2021 | |||||
|---|---|---|---|---|---|---|
| 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | Since Incepection | |
| Fund NAV | 0.19% | 13.52% | 14.33% | 25.36% | - | 27.77% |
| Market Price | 0.98% | 13.48% | 15.18% | 25.65% | - | 28.34% |
| Index | 0.11% | 13.59% | 14.78% | 25.62% | - | 27.67% |
| S&P 500 TR Index | -1.01% | 14.05% | 14.47% | 17.25% | 18.68% | |
| RETURNS | |||
|---|---|---|---|
| QTD Returns as of 12/31/2020 | YTD Returns as of 1/31/2021 | Inception to 1/31/2021 | |
| NAV Return (%) | 9.86% | 0.19% | 24.38% |
| Market Price (%) | 9.52% | 0.98% | 24.87% |
| Index | 10.19% | 0.11% | 24.29% |
| S&P 500 TR | 12.15% | -1.01% | 16.47% |
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, 2021 | January 27, 2021 | January 29, 2021 | 0.02600 |
| February 23. 2021 | February 24, 2021 | February 26, 2021 | 0 .02600 |
| 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 |
|---|---|---|---|---|---|
| 11.98 | APPLE INC | AAPL | 037833100 | 48302.00 | 6079289.72 |
| 10.50 | MICROSOFT CORP | MSFT | 594918104 | 22850.00 | 5330219.50 |
| 3.80 | FACEBOOK INC | FB | 30303M102 | 7265.00 | 1931436.58 |
| 3.69 | ALPHABET INC | GOOGL | 02079K305 | 908.00 | 1870588.96 |
| 3.58 | ALPHABET INC | GOOG | 02079K107 | 877.00 | 1816144.22 |
| 3.16 | TESLA INC | TSLA | 88160R101 | 2292.00 | 1601741.28 |
| 2.51 | JOHNSON & JOHNSON | JNJ | 478160104 | 7956.00 | 1276460.64 |
| 2.08 | NVIDIA CORPORATION | NVDA | 67066G104 | 1870.00 | 1057821.60 |
| 1.88 | PROCTER AND GAMBLE CO | PG | 742718109 | 7494.00 | 955634.88 |
| 1.71 | HOME DEPOT INC | HD | 437076102 | 3253.00 | 869331.72 |
Data as of 02/24/2021. 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.
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.
Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate.
