Wahed FTSE USA Shariah ETF
ALTAR
Score™
3.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
29.0x P/Sales
ratio
2.9x
P/BV
ratio
4.7x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Wahad FTSE USA Shariah ETF tracks a principles-selected, market cap-weighted index of U.S. equities.

FUND BASICS
Category US Equities
Fund Sponsor Wahed Invest LLC
Website funds.wahedinvest.com
Inception date Jul 15, 2019
Assets (mns) $74
Currency USD
Expense ratio 50 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 213
Wgt avg mkt cap (mns) $564,677
Large cap (>$10bn) 98.5%
Mid cap ($2-10bn) 1.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 16.5 %
TESLA MOTORS INC 5.0 %
JOHNSON & JOHNSON 3.4 %
PROCTER & GAMBLE CO/THE 2.6 %
HOME DEPOT INC 2.4 %
INTEL CORP 1.9 %
ADOBE SYSTEMS INC 1.8 %
MERCK & CO. INC. 1.7 %
PFIZER INC 1.6 %
EXXON MOBIL CORP 1.6 %
Total 38.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.0 %
IRELAND 2.8 %
BRITAIN 1.2 %
SWITZERLAND 0.5 %
NETHERLANDS 0.4 %
BERMUDA 0.3 %
SINGAPORE 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
24.6% 24.6% -- -- 30.8%

Market Correlations
versus... Beta R-squared
S&P500 1.12 98%
MSCI EAFE 0.99 88%
MSCI Emg. Mkts. 0.82 68%

Technical Indicators
Recent close $34.68
30d moving avg. $33.80
Annualized volatility 25.3%
Short interest (ETF) 0.4%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.8%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $112,311

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Wahed FTSE USA Shariah ETF ETF based on the alternatives' overlap in portfolio holdings with HLAL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HLAL Expense: 50 bp ALTAR Score™: 3.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HLAL
Ticker Fund
Name
Overlap1
vs HLAL
(%)
Expense
ratio
(bp)
Savings
vs HLAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs HLAL
(%)
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 61.1 49 1 3.5 -0.4
ESGV Vanguard ESG U.S. Stock ETF 44.9 12 38 4.6 +0.7
SPXN ProShares S&P 500 Ex-Financials ETF 42.0 27 23 4.5 +0.6
IQSU IQ Candriam ESG US Equity ETF 41.8 9 41 4.6 +0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 40.6 4 46 3.8 -0.1
IVW iShares S&P 500 Growth ETF 40.5 18 32 3.7 -0.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 40.3 60 -10 3.7 -0.2
EFIV SPDR S&P 500 ESG ETF 39.8 10 40 4.7 +0.8
SNPE Xtrackers S&P 500 ESG ETF 39.7 10 40 4.7 +0.8
NACP Impact Shares NAACP Minority Empowerment ETF 39.2 49 1 4.8 +0.9
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 38.9 19 31 5.4 +1.5
MGK Vanguard Mega Cap Growth ETF 38.6 7 43 3.8 -0.1
ESG FlexShares STOXX US ESG Impact Index Fund 38.4 32 18 4.6 +0.7
IUSG iShares Core S&P US Growth ETF 38.4 4 46 3.8 -0.1
VOOG Vanguard S&P 500 Growth ETF 38.3 10 40 4.1 +0.2
JCTR JPMorgan Carbon Transition U.S. Equity ETF 38.3 15 35 4.7 +0.8
PBP Invesco S&P 500 BuyWrite ETF 38.1 49 1 4.4 +0.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 37.9 12 38 4.1 +0.2
XYLG Global X S&P 500 Covered Call & Growth ETF 37.6 60 -10 4.4 +0.5
RECS Columbia Research Enhanced Core ETF 37.4 15 35 5.2 +1.3
ESGU iShares MSCI USA ESG Optimized ETF 37.3 15 35 4.5 +0.6
MGC Vanguard Mega Cap Index Fund 37.3 7 43 4.7 +0.8
SUSL iShares ESG MSCI USA Leaders ETF 37.3 10 40 4.9 +1.0
SPY SPDR S&P 500 ETF Trust 37.2 9 41 4.8 +0.9
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 37.2 10 40 4.9 +1.0
SPLG SPDR Portfolio Large Cap ETF 37.2 3 47 4.8 +0.9
IVV iShares Core S&P 500 ETF 37.2 3 47 4.8 +0.9
OEF iShares S&P 100 ETF 36.8 20 30 4.3 +0.4
SCHV Schwab U.S. Large-Cap Value ETF 36.8 4 46 6.1 +2.2
VOOV Vanguard S&P 500 Value ETF 36.7 10 40 6.6 +2.7
DGRO iShares Core Dividend Growth ETF 36.6 8 42 6.0 +2.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 36.5 7 43 4.6 +0.7
IWL iShares Russell Top 200 ETF 36.5 15 35 4.5 +0.6
VTV Vanguard Value Index Fund 36.4 4 46 6.5 +2.6
BKLC BNY Mellon US Large Cap Core Equity ETF 36.4 0 50 4.6 +0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 36.4 30 20 5.3 +1.4
CATH Global X S&P 500 Catholic Values Custom ETF 36.4 29 21 4.7 +0.8
QYLD Global X NASDAQ 100 Covered Call ETF 36.3 60 -10 3.2 -0.7
PBUS Invesco PureBeta MSCI USA ETF 36.2 4 46 4.7 +0.8
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 36.2 60 -10 3.2 -0.7
IWY iShares Russell Top 200 Growth ETF 36.2 20 30 3.7 -0.2
QQQM Invesco NASDAQ 100 ETF 36.1 15 35 3.7 -0.2
QQQ Invesco QQQ Trust 36.1 20 30 3.6 -0.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 36.1 2 48 4.7 +0.8
IUS Invesco Strategic US ETF 36.1 19 31 5.5 +1.6
JKD iShares Morningstar Large-Cap ETF 36.0 20 30 4.8 +0.9
NUSI Nationwide Risk-Managed Income ETF 36.0 68 -18 3.1 -0.8
SPXE ProShares S&P 500 Ex-Energy ETF 35.9 27 23 4.7 +0.8
DGRW WisdomTree U.S. Quality Dividend Growth Fund 35.9 28 22 6.1 +2.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 35.8 9 41 4.9 +1.0
USXF iShares ESG Advanced MSCI USA ETF 35.6 10 40 4.6 +0.7
JHML John Hancock Multifactor Large Cap ETF 35.5 29 21 4.9 +1.0
VOO VANGUARD S&P 500 ETF 35.5 3 47 4.9 +1.0
VUG Vanguard Growth Index Fund 35.3 4 46 3.6 -0.3
MGV Vanguard Mega Cap Value ETF 35.3 7 43 6.4 +2.5
VV Vanguard Large-Cap Index Fund 35.2 4 46 4.7 +0.8
IWX iShares Russell Top 200 Value ETF 35.1 20 30 6.0 +2.1
SFY SoFi Select 500 ETF 34.9 0 50 4.6 +0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 34.9 20 30 4.9 +1.0
SCHX Schwab U.S. Large-Cap ETF 34.9 3 47 4.6 +0.7
VONV Vanguard Russell 1000 Value Index Fund 34.8 8 42 6.1 +2.2
FTEC Fidelity MSCI Information Technology Index ETF 34.8 8 42 4.1 +0.2
VGT Vanguard Information Technology Index Fund 34.8 10 40 4.1 +0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 34.8 20 30 4.7 +0.8
XLG Invesco S&P 500 Top 50 ETF 34.7 20 30 4.2 +0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 34.6 28 22 6.2 +2.3
IWF iShares Russell 1000 Growth ETF 34.2 19 31 3.6 -0.3
IYW iShares U.S. Technology ETF 34.2 43 7 3.6 -0.3
SPTM SPDR Portfolio Total Stock Market ETF 34.1 3 47 4.9 +1.0
DIVB iShares U.S. Dividend & Buyback ETF 34.0 25 25 5.9 +2.0
SCHK Schwab 1000 Index ETF 33.9 5 45 4.7 +0.8
IWB iShares Russell 1000 ETF 33.7 15 35 4.6 +0.7
VYM Vanguard High Dividend Yield Index ETF 33.6 6 44 6.6 +2.7
IYY iShares Dow Jones U.S. ETF 33.5 20 30 4.5 +0.6
QUS SPDR MSCI USA StrategicFactors ETF 33.5 15 35 5.3 +1.4
SPYV SPDR Portfolio S&P 500 Value ETF 33.4 4 46 6.4 +2.5
IVE iShares S&P 500 Value ETF 33.4 18 32 6.3 +2.4
XLK Technology Select Sector SPDR Fund 33.4 13 37 4.4 +0.5
IXN iShares Global Tech ETF 33.4 46 4 3.9 +0.0
HIPR Direxion High Growth ETF 33.3 40 10 4.0 +0.1
IWD iShares Russell 1000 Value ETF 33.3 19 31 6.0 +2.1
VONG Vanguard Russell 1000 Growth Index Fund 33.3 8 42 3.7 -0.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 33.2 25 25 5.8 +1.9
DSI iShares MSCI KLD 400 Social ETF 33.2 25 25 4.7 +0.8
EPS WisdomTree U.S. Earnings 500 Fund 33.0 8 42 6.0 +2.1
SPXT ProShares S&P 500 Ex-Technology ETF 32.8 27 23 4.9 +1.0
SPXV ProShares S&P 500 Ex-Health Care ETF 32.6 27 23 4.4 +0.5
AFLG First Trust Active Factor Large Cap ETF 32.6 55 -5 4.8 +0.9
SPHQ Invesco S&P 500 Quality ETF 32.6 15 35 4.5 +0.6
SCHG Schwab U.S. Large-Cap Growth ETF 32.5 4 46 3.3 -0.6
PFM Invesco Dividend Achievers ETF 32.5 53 -3 5.1 +1.2
FDRR Fidelity Dividend ETF for Rising Rates 32.4 29 21 6.0 +2.1
VTHR Vanguard Russell 3000 Index Fund 32.3 10 40 4.5 +0.6
SPMO Invesco S&P 500 Momentum ETF 32.1 13 37 4.0 +0.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 32.0 12 38 5.0 +1.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 32.0 30 20 5.1 +1.2
RAFE PIMCO RAFI ESG U.S. ETF 31.9 30 20 6.7 +2.8
PRF Invesco FTSE RAFI US 1000 ETF 31.9 39 11 5.8 +1.9
DFAU Dimensional US Core Equity Market ETF 31.9 12 38 4.7 +0.8

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Wahed FTSE USA Shariah ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 18.2 %
Divided by: Fwd. P/BV 4.1 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 3.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.49
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.