SP Funds S&P 500 Sharia Industry Exclusions ETF
ALTAR
Score™		 5.5% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 19.1x P/Sales
ratio		 3.0x
P/BV
ratio		 4.0x Div.
yield		 2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The SP Funds S&P 500 Sharia Industry Exclusions ETF seeks to track the performance, before fees and expenses, of the S&P 500 Sharia Industry Exclusions Index.

FUND BASICS
Category US Equities
Fund Sponsor SP Funds
Website www.sp-funds.com
Inception date Dec 18, 2019
Assets (mns) $20
Currency USD
Expense ratio 49 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 200
Wgt avg mkt cap (mns) $376,644
Large cap (>$10bn) 97.7%
Mid cap ($2-10bn) 2.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 10.2 %
APPLE INC 9.1 %
FACEBOOK 3.4 %
ALPHABET INC. CLASS A 3.0 %
ALPHABET INC. CLASS C 3.0 %
JOHNSON & JOHNSON 3.0 %
PROCTER & GAMBLE CO/THE 2.3 %
INTEL CORP 2.1 %
HOME DEPOT INC 1.8 %
MERCK & CO. INC. 1.7 %
Total 39.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.5 %
IRELAND 2.1 %
BRITAIN 1.1 %
SWITZERLAND 0.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


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

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

Technical Indicators
Recent close $16.74
30d moving avg. $17.85
Annualized volatility 0.0%
Short interest (ETF) 1.5%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 24
Turnover 2.0%
Bid/Ask (% of price) 1.92%
ADV underlying (mns) $174,290

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the SP Funds S&P 500 Sharia Industry Exclusions ETF ETF based on the alternatives' overlap in portfolio holdings with SPUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPUS Expense: 49 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPUS
Ticker Fund
Name		 Overlap1
vs SPUS
(%)		 Expense
ratio
(bp)		 Savings
vs SPUS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs SPUS
(%)
SPYG SPDR Portfolio S&P 500 Growth ETF 64.8 4 45 5.8 +0.3
VOOG Vanguard S&P 500 Growth ETF 64.8 10 39 5.7 +0.3
IVW iShares S&P 500 Growth ETF 64.7 18 31 5.6 +0.2
DSI iShares MSCI KLD 400 Social ETF 63.0 25 24 6.7 +1.3
IUSG iShares Core S&P US Growth ETF 61.2 4 45 5.8 +0.4
IQSU IQ Candriam ESG US Equity ETF 61.0 9 40 6.7 +1.2
IWY iShares Russell Top 200 Growth ETF 60.4 20 29 5.5 +0.1
VUG Vanguard Growth Index Fund 60.1 4 45 5.5 +0.1
SUSL iShares ESG MSCI USA Leaders ETF 59.8 10 39 6.9 +1.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 59.8 60 -11 6.0 +0.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 59.7 10 39 6.9 +1.5
VONG Vanguard Russell 1000 Growth Index Fund 59.4 8 41 5.8 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 59.3 27 22 6.6 +1.2
XLG Invesco S&P 500 Top 50 ETF 58.8 20 29 5.9 +0.5
IWF iShares Russell 1000 Growth ETF 58.8 19 30 5.7 +0.2
HSPX Global X S&P 500 Covered Call ETF 57.3 65 -16 6.2 +0.7
PBP Invesco S&P 500 BuyWrite ETF 56.5 49 0 6.5 +1.1
OEF iShares S&P 100 ETF 56.4 20 29 6.3 +0.9
MGK Vanguard Mega Cap Growth ETF 56.0 7 42 5.6 +0.2
IWL iShares Russell Top 200 ETF 55.4 15 34 6.6 +1.2
SNPE Xtrackers S&P 500 ESG ETF 54.9 11 38 6.8 +1.4
HLAL Wahed FTSE USA Shariah ETF 54.2 50 -1 6.2 +0.7
MGC Vanguard Mega Cap Index Fund 54.2 7 42 6.8 +1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 53.7 12 37 6.7 +1.3
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 53.0 21 28 4.4 -1.1
RECS Columbia Research Enhanced Core ETF 52.8 15 34 7.5 +2.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 52.5 20 29 6.6 +1.2
SPY SPDR S&P 500 ETF Trust 52.5 9 40 7.1 +1.6
VOO VANGUARD S&P 500 ETF 52.4 3 46 7.1 +1.7
SPLG SPDR Portfolio Large Cap ETF 52.4 3 46 7.1 +1.7
IVV iShares Core S&P 500 ETF 52.4 4 45 7.1 +1.7
SPXE ProShares S&P 500 Ex-Energy ETF 51.8 27 22 7.0 +1.5
SCHG Schwab U.S. Large-Cap Growth ETF 51.7 4 45 5.6 +0.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 51.5 20 29 7.1 +1.6
QQQ Invesco QQQ Trust 51.5 20 29 5.4 -0.1
QYLD Global X NASDAQ 100 Covered Call ETF 51.5 60 -11 4.9 -0.6
NUSI Nationwide Risk-Managed Income ETF 51.5 68 -19 4.8 -0.7
CATH Global X S&P 500 Catholic Values Custom ETF 51.3 29 20 7.0 +1.6
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 51.2 75 -26 5.0 -0.5
ESGU iShares MSCI USA ESG Optimized ETF 51.2 15 34 6.7 +1.2
NACP Impact Shares NAACP Minority Empowerment ETF 50.9 75 -26 6.2 +0.7
VV Vanguard Large-Cap Index Fund 50.7 4 45 7.0 +1.5
SFY SoFi Select 500 ETF 50.6 0 49 6.7 +1.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 50.0 2 47 7.1 +1.6
SPXV ProShares S&P 500 Ex-Health Care ETF 49.9 27 22 6.8 +1.3
JQUA JPMorgan U.S. Quality Factor ETF 49.6 12 37 6.6 +1.2
PBUS Invesco PureBeta MSCI USA ETF 49.2 4 45 7.2 +1.7
IOO iShares Global 100 ETF 48.9 40 9 6.1 +0.7
ESGV Vanguard ESG U.S. Stock ETF 48.8 12 37 7.0 +1.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 48.8 19 30 7.6 +2.1
SCHX Schwab U.S. Large-Cap ETF 48.6 3 46 7.0 +1.6
SPTM SPDR Portfolio Total Stock Market ETF 48.3 3 46 7.3 +1.8
IUS Invesco Strategic US ETF 48.1 19 30 7.9 +2.5
VONE Vanguard Russell 1000 ETF 48.0 8 41 7.0 +1.6
QUS SPDR MSCI USA StrategicFactors ETF 47.8 15 34 7.3 +1.8
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 47.8 29 20 5.6 +0.2
IWB iShares Russell 1000 ETF 47.4 15 34 7.0 +1.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 47.3 9 40 7.3 +1.8
SCHK Schwab 1000 Index ETF 47.1 5 44 7.0 +1.6
FQAL Fidelity Quality Factor ETF 47.1 29 20 7.0 +1.6
WOMN Impact Shares YWCA Women's Empowerment ETF 47.0 75 -26 6.2 +0.7
EPS WisdomTree U.S. Earnings 500 Fund 46.7 8 41 8.5 +3.0
IYY iShares Dow Jones U.S. ETF 46.7 20 29 6.9 +1.5
ESG FlexShares STOXX US ESG Impact Index Fund 46.5 32 17 6.8 +1.3
TMFC Motley Fool 100 Index ETF 46.3 50 -1 5.1 -0.4
IETC iShares Evolved U.S. Technology ETF 46.1 18 31 5.4 -0.1
IGM iShares North American Tech ETF 45.8 46 3 5.3 -0.2
IYW iShares U.S. Technology ETF 45.5 42 7 5.6 +0.1
VTHR Vanguard Russell 3000 Index Fund 45.3 10 39 6.9 +1.5
DIVB iShares U.S. Dividend & Buyback ETF 45.0 25 24 8.8 +3.3
SCHB Schwab U.S. Broad Market ETF 44.9 3 46 7.0 +1.6
VEGN US Vegan Climate ETF 44.8 60 -11 7.1 +1.6
VTI Vanguard Total Stock Market Index Fund 44.7 3 46 7.0 +1.5
DGRO iShares Core Dividend Growth ETF 44.7 8 41 8.4 +2.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 44.7 3 46 7.0 +1.5
IWV iShares Russell 3000 ETF 44.6 20 29 6.9 +1.4
SPXT ProShares S&P 500 Ex-Technology ETF 44.5 27 22 7.3 +1.9
DLN WisdomTree U.S. LargeCap Dividend Fund 44.2 28 21 8.0 +2.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 43.8 15 34 6.9 +1.5
JHML John Hancock Multifactor Large Cap ETF 43.2 34 15 7.5 +2.0
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 42.7 12 37 6.3 +0.8
EXT WisdomTree U.S. Total Earnings Fund 41.8 28 21 7.7 +2.2
SCHV Schwab U.S. Large-Cap Value ETF 41.7 4 45 9.0 +3.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 41.3 25 24 8.3 +2.9
OUSA O'Shares FTSE US Quality Dividend ETF 41.1 48 1 7.0 +1.5
FDRR Fidelity Dividend ETF for Rising Rates 40.9 29 20 9.6 +4.2
SUSA iShares MSCI USA ESG Select ETF 40.8 25 24 6.2 +0.8
DTD WisdomTree U.S.Total Dividend Fund 40.3 28 21 8.5 +3.0
AVUS Avantis U.S. Equity ETF 40.0 15 34 8.0 +2.5
QUAL iShares MSCI Usa Quality Factor ETF 40.0 15 34 6.9 +1.5
FDLO Fidelity Low Volatility Factor ETF 39.7 29 20 6.5 +1.1
QLC FlexShares US Quality Large Cap Index Fund 39.2 32 17 7.4 +1.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 39.0 25 24 8.4 +2.9
NULC Nuveen ESG Large-Cap ETF 38.9 20 29 6.9 +1.4
DGRW WisdomTree U.S. Quality Dividend Growth Fund 37.6 28 21 8.2 +2.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 37.4 30 19 8.1 +2.6
AFLG First Trust Active Factor Large Cap ETF 37.4 55 -6 7.7 +2.2
RFDA RiverFront Dynamic US Dividend Advantage ETF 37.0 52 -3 7.9 +2.4
EQWL Invesco Russell Top 200 Equal Weight ETF 36.9 25 24 7.5 +2.1
RFFC RiverFront Dynamic US Flex-Cap ETF 36.7 52 -3 7.6 +2.1

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:		 SP Funds S&P 500 Sharia Industry Exclusions 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 22.5 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.40 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.