Wahed FTSE USA Shariah ETF
ALTAR
Score™
6.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
18.4x P/Sales
ratio
2.4x
P/BV
ratio
3.5x Div.
yield
2.1%


  • 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) $50
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 229
Wgt avg mkt cap (mns) $445,354
Large cap (>$10bn) 96.6%
Mid cap ($2-10bn) 3.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 17.3 %
JOHNSON & JOHNSON 3.9 %
PROCTER & GAMBLE CO/THE 3.4 %
TESLA MOTORS INC 2.8 %
ADOBE SYSTEMS INC 2.2 %
INTEL CORP 2.1 %
MERCK & CO. INC. 2.1 %
SALESFORCE.COM INC 2.0 %
PFIZER INC 2.0 %
ABBOTT LABORATORIES 1.8 %
Total 39.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.5 %
IRELAND 2.9 %
BRITAIN 1.4 %
SWITZERLAND 0.4 %
NETHERLANDS 0.3 %
BERMUDA 0.2 %
SINGAPORE 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
15.2% -- -- -- 32.2%

Market Correlations
versus... Beta R-squared
S&P500 1.10 98%
MSCI EAFE 1.08 90%
MSCI Emg. Mkts. 0.77 72%

Technical Indicators
Recent close $29.47
30d moving avg. $30.21
Annualized volatility 25.4%
Short interest (ETF) 0.5%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.9%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $2,427

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 6.6%


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 53.3 49 1 5.7 -0.9
SPHQ Invesco S&P 500 Quality ETF 41.9 15 35 5.3 -1.3
SCHV Schwab U.S. Large-Cap Value ETF 38.9 4 46 7.3 +0.7
IQSU IQ Candriam ESG US Equity ETF 38.0 9 41 6.2 -0.4
SPXN ProShares S&P 500 Ex-Financials ETF 38.0 27 23 5.8 -0.8
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 37.2 19 31 6.8 +0.2
JKD iShares Morningstar Large-Cap ETF 37.1 20 30 8.1 +1.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 37.0 30 20 6.7 +0.1
FTEC Fidelity MSCI Information Technology Index ETF 36.6 8 42 8.0 +1.4
VGT Vanguard Information Technology Index Fund 36.6 10 40 8.0 +1.4
IYW iShares U.S. Technology ETF 35.9 43 7 7.2 +0.6
OUSA O'Shares FTSE US Quality Dividend ETF 35.9 48 2 6.6 +0.1
VTV Vanguard Value Index Fund 35.4 4 46 7.5 +0.9
MGV Vanguard Mega Cap Value ETF 35.4 7 43 7.3 +0.7
IUS Invesco Strategic US ETF 35.2 19 31 7.1 +0.5
ESG FlexShares STOXX US ESG Impact Index Fund 35.0 32 18 5.7 -0.9
XLK Technology Select Sector SPDR Fund 35.0 13 37 8.7 +2.1
IXN iShares Global Tech ETF 35.0 46 4 7.1 +0.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 34.9 25 25 7.4 +0.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 34.7 60 -10 5.4 -1.2
QUS SPDR MSCI USA StrategicFactors ETF 34.6 15 35 6.2 -0.4
VOOG Vanguard S&P 500 Growth ETF 34.5 10 40 5.8 -0.8
RECS Columbia Research Enhanced Core ETF 34.2 15 35 6.6 -0.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 34.2 12 38 6.2 -0.4
QQQ Invesco QQQ Trust 34.1 20 30 5.8 -0.8
QYLD Global X NASDAQ 100 Covered Call ETF 34.1 60 -10 5.5 -1.1
MGK Vanguard Mega Cap Growth ETF 34.0 7 43 6.2 -0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 34.0 7 43 6.0 -0.6
JHML John Hancock Multifactor Large Cap ETF 33.9 29 21 6.0 -0.6
IWX iShares Russell Top 200 Value ETF 33.9 20 30 6.9 +0.3
NUSI Nationwide Risk-Managed Income ETF 33.9 68 -18 5.5 -1.1
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 33.9 60 -10 5.4 -1.2
PBUS Invesco PureBeta MSCI USA ETF 33.7 4 46 6.0 -0.6
VOOV Vanguard S&P 500 Value ETF 33.7 10 40 7.4 +0.9
NACP Impact Shares NAACP Minority Empowerment ETF 33.7 75 -25 5.7 -0.9
IVW iShares S&P 500 Growth ETF 33.7 18 32 5.7 -0.8
ESGU iShares MSCI USA ESG Optimized ETF 33.6 15 35 5.8 -0.8
SPY SPDR S&P 500 ETF Trust 33.5 9 41 6.1 -0.5
PBP Invesco S&P 500 BuyWrite ETF 33.5 49 1 5.7 -0.9
IVE iShares S&P 500 Value ETF 33.4 18 32 7.4 +0.8
SNPE Xtrackers S&P 500 ESG ETF 33.4 10 40 6.0 -0.5
MGC Vanguard Mega Cap Index Fund 33.3 7 43 6.0 -0.6
SCHX Schwab U.S. Large-Cap ETF 33.2 3 47 5.9 -0.6
XYLG Global X S&P 500 Covered Call & Growth ETF 33.2 60 -10 5.7 -0.9
SPYV SPDR Portfolio S&P 500 Value ETF 33.2 4 46 7.5 +0.9
EPS WisdomTree U.S. Earnings 500 Fund 33.2 8 42 7.2 +0.6
SPLG SPDR Portfolio Large Cap ETF 33.2 3 47 6.1 -0.5
HSPX Global X S&P 500 Covered Call ETF 33.1 60 -10 5.5 -1.0
ESGV Vanguard ESG U.S. Stock ETF 33.1 12 38 5.9 -0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 33.1 4 46 5.9 -0.7
IWD iShares Russell 1000 Value ETF 33.1 19 31 7.0 +0.4
DGRO iShares Core Dividend Growth ETF 33.0 8 42 7.0 +0.5
IWL iShares Russell Top 200 ETF 33.0 15 35 5.8 -0.8
VOO VANGUARD S&P 500 ETF 33.0 3 47 6.1 -0.5
IVV iShares Core S&P 500 ETF 33.0 3 47 6.1 -0.5
VONV Vanguard Russell 1000 Value Index Fund 33.0 8 42 7.1 +0.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 33.0 25 25 7.4 +0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 32.9 9 41 6.2 -0.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 32.9 20 30 5.7 -0.9
DIVB iShares U.S. Dividend & Buyback ETF 32.8 25 25 7.3 +0.7
SFY SoFi Select 500 ETF 32.8 0 50 5.6 -1.0
BKLC BNY Mellon US Large Cap Core Equity ETF 32.7 0 50 6.0 -0.5
XLG Invesco S&P 500 Top 50 ETF 32.7 20 30 5.9 -0.7
VV Vanguard Large-Cap Index Fund 32.7 4 46 5.9 -0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 32.3 20 30 6.1 -0.5
VYM Vanguard High Dividend Yield Index ETF 32.1 6 44 7.6 +1.0
IUSG iShares Core S&P US Growth ETF 32.1 4 46 5.8 -0.8
SCHK Schwab 1000 Index ETF 32.0 5 45 5.9 -0.7
SPXE ProShares S&P 500 Ex-Energy ETF 32.0 27 23 6.1 -0.5
IYY iShares Dow Jones U.S. ETF 32.0 20 30 5.8 -0.8
OEF iShares S&P 100 ETF 31.9 20 30 5.9 -0.7
QUAL iShares MSCI Usa Quality Factor ETF 31.9 15 35 6.0 -0.6
IWB iShares Russell 1000 ETF 31.8 15 35 5.7 -0.8
CATH Global X S&P 500 Catholic Values Custom ETF 31.8 29 21 5.9 -0.6
DLN WisdomTree U.S. LargeCap Dividend Fund 31.8 28 22 7.1 +0.5
AFLG First Trust Active Factor Large Cap ETF 31.5 55 -5 6.4 -0.2
PRF Invesco FTSE RAFI US 1000 ETF 31.5 39 11 7.4 +0.8
RAFE PIMCO RAFI ESG U.S. ETF 31.4 29 21 7.7 +1.2
SUSL iShares ESG MSCI USA Leaders ETF 31.4 10 40 5.3 -1.3
IUSV iShares Core S&P U.S. Value ETF 31.4 4 46 7.6 +1.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 31.3 10 40 5.3 -1.3
SPTM SPDR Portfolio Total Stock Market ETF 31.3 3 47 6.2 -0.4
VONE Vanguard Russell 1000 ETF 31.2 8 42 5.8 -0.8
IWY iShares Russell Top 200 Growth ETF 31.2 20 30 6.1 -0.5
MTUM iShares Edge MSCI USA Momentum Factor ETF 31.2 15 35 5.1 -1.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 31.0 2 48 6.0 -0.6
VUG Vanguard Growth Index Fund 30.6 4 46 5.6 -1.0
SCHB Schwab U.S. Broad Market ETF 30.6 3 47 5.8 -0.8
VTHR Vanguard Russell 3000 Index Fund 30.5 10 40 5.7 -0.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 30.5 3 47 5.8 -0.8
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 30.4 49 1 5.2 -1.4
IWF iShares Russell 1000 Growth ETF 30.2 19 31 5.6 -1.0
HIPR Direxion High Growth ETF 30.0 40 10 6.9 +0.3
IWV iShares Russell 3000 ETF 30.0 20 30 5.6 -1.0
AVUS Avantis U.S. Equity ETF 30.0 15 35 6.2 -0.4
WOMN Impact Shares YWCA Women's Empowerment ETF 29.9 75 -25 5.1 -1.5
DTD WisdomTree U.S.Total Dividend Fund 29.8 28 22 7.2 +0.7
SCIU Global X Scientific Beta US ETF 29.8 19 31 6.0 -0.6
FDRR Fidelity Dividend ETF for Rising Rates 29.8 29 21 7.7 +1.1
IETC iShares Evolved U.S. Technology ETF 29.7 18 32 5.9 -0.6

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:

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 22.1 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.51
 
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.