Wahed FTSE USA Shariah
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.0x P/Sales
ratio
1.8x
P/BV
ratio
3.0x Div.
yield
1.9%


  • 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 16, 2019
Assets (mns) $20
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 216
Wgt avg mkt cap (mns) $269,956
Large cap (>$10bn) 95.4%
Mid cap ($2-10bn) 4.6%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 14.2 %
JOHNSON & JOHNSON 4.3 %
PROCTER & GAMBLE CO/THE 3.5 %
EXXON MOBIL CORP 3.5 %
INTEL CORP 3.0 %
CHEVRON CORP 2.7 %
MERCK & CO. INC. 2.6 %
PFIZER INC 2.5 %
MEDTRONIC PLC 1.8 %
ABBOTT LABORATORIES 1.8 %
Total 39.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.8 %
IRELAND 4.1 %
BRITAIN 1.9 %
NETHERLANDS 0.6 %
SWITZERLAND 0.5 %
BERMUDA 0.2 %
SINGAPORE 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 01)
Year-to-date 1 year 5 years 10 years Since Incep.
-- -- -- -- 0.0%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $26.18
30d moving avg. $25.58
Annualized volatility 0.0%
Short interest (ETF) 3.7%
Relative strength (RSI) 78

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.9%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $49,923

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Wahed FTSE USA Shariah 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™: 5.7%


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
(%)
OUSA O'Shares FTSE U.S. Quality Dividend 40.1 48 2 5.9 +0.2
SPHQ Invesco S&P High Quality Portfolio 38.6 15 35 5.6 -0.1
QARP Xtrackers Russell 1000 US QARP 38.4 19 31 6.5 +0.8
IWX iShares Russell Top 200 Value 38.0 20 30 7.0 +1.3
IUS Invesco Strategic US 37.2 19 31 6.7 +1.0
SPXN ProShares S&P 500 Ex-Financials 36.4 27 23 5.9 +0.2
OVLU Invesco Russell 1000 Value Factor ETF 36.4 19 31 7.9 +2.2
OQAL Invesco Russell 1000 Quality Factor ETF 36.4 19 31 5.3 -0.4
SPYV SPDR Portfolio S&P 500 Value 36.2 4 46 7.2 +1.5
IVE iShares S&P 500 Value 36.1 18 32 7.0 +1.3
VOOV Vanguard S&P 500 Value 36.0 15 35 7.0 +1.3
WOMN Impact Shares YWCA Women's Empowerment 35.6 75 -25 5.5 -0.3
FNDX Schwab Fundamental Large Cap 35.3 25 25 6.7 +1.0
SCHV Schwab U.S. Large-Cap Value 34.9 4 46 7.0 +1.3
IUSV iShares Core U.S. Value 34.1 4 46 7.2 +1.5
MGV Vanguard Mega Cap 300 Value 34.0 7 43 7.1 +1.4
VYM Vanguard High Dividend Yield ETF 33.8 6 44 7.3 +1.6
IWD iShares Russell 1000 Value 33.2 19 31 7.0 +1.3
VONV Vanguard Russell 1000 Value 33.1 12 38 7.1 +1.4
VTV Vanguard Value ETF 33.0 4 46 7.2 +1.5

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

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.6 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.55
 
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.