Key stats
About SP Funds Trust SP Funds S&P Global Technology ETF
Expense ratio
0.55%
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Inception date
Dec 1, 2023
SPTE employs a passive management approach, following a global index comprised of large-cap firms within the information technology sector that pass specific criteria for adherence to Shariah laws. Business practices that are against the principles of Shariah like gambling, tobacco, or alcohol-related business activities are screened out. Additionally, firms deploying leverage that contravenes Shariah regulations are eliminated. The index is float-adjusted market capitalization weighted for each member, with capping coming into play if a single constituent exceeds 10% share or if a single domicile countrys share surpasses 50% of the index. Furthermore, SPTE has the flexibility to invest up to 20% of its assets in Shariah-compliant securities not listed in the index based on the fund advisers recommendations. These are chosen to help the fund align with the index performance. SPTE seeks to provide a balanced exposure to the IT sector, aligning with Shariah guidelines and aiming to deliver consistent performance in line with the index.
Classification
What's in the fund
Exposure type
Electronic Technology
Technology Services
Stock breakdown by region