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About Wahed Dow Jones Islamic World ETF
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Inception date
Jan 7, 2022
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Wahed Invest LLC
Distributor
Quasar Distributors LLC
ISIN
US53656F2680
UMMA, though actively managed, seeks to achieve similar returns as the Dow Jones Islamic Market International Titans 100 Index. In doing so, the fund invests in a portfolio that generally replicates the indexs holdings, which comprises 100 of the largest Shariah-compliant companies outside the US. This includes firms from developed, emerging, and frontier markets. The selection process starts by removing companies that derive more than 5% of their revenue from Shariah-prohibited activities such as: non-Islamic finance, alcohol, tobacco, weapon, pork-related products, and certain forms of entertainment. Remaining firms are then filtered using accounting-based screens that focus on certain financial ratios. In addition, companies are further screened to assess ESG risks relating to issues, such as illegal commercial practices, human rights, labor disputes, and workplace safety. UMMAs international exposure complements HLAL, its sibling fund that holds Shariah-compliant US securities.
Related funds
Classification
What's in the fund
Exposure type
Electronic Technology
Health Technology
Producer Manufacturing
Stock breakdown by region
Top 10 holdings
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Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
UMMA assets under management is 154.80 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
UMMA invests in stocks. See more details in our Analysis section.
UMMA expense ratio is 0.65%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, UMMA isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, UMMA pays dividends to its holders with the dividend yield of 0.81%.
UMMA shares are issued by Wahed Invest LLC
UMMA follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Jan 7, 2022.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.