SPWO

The SP Funds S&P World ETF

Why SPWO ETF?

The SP Funds S&P World ex-US ETF seeks to track the performance, before fees and expenses, of a benchmark S&P DM Ex-U.S. & EM 50/50 Shariah Index (USD) NTR Index (Ticker: SPDUESUN) which is designed to measure the performance of sharia compliant components of emerging market and developed market stocks excluding US stocks.

As of December 20, 2023, the Index was composed of 500 constituents, representing investments in forty-two foreign countries, and had a mean market capitalization of US $14 billion.

The fund constituent companies are expected to benefit from growth in emerging market and Europe, Australia and Far East (EAFE) economies as inflation tends to be lower in these economies and the growth rate is expected to be higher compared to the developed economies.

The fund is composed in accordance with Islamic law as agreed upon through Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) principles, which excludes non-Islamic businesses and screens out the companies with higher leverage and non-compliant income.

  •   Summary Prospectus

      Fund Details

      Fund Details & Pricing

      IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

      30 Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

      The 30-Day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and does not reflect waivers in effect.

      Performance

      The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (425) 409-9500.

      Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized.

      A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

       

       

      Distribution Detail

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      *Long-Term Capital Gain distribution

      Top 10 Holdings

      Download Full Holdings
      Diversification does not ensure a profit or protect against loss in declining markets.

      As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV. The Fund is new with a limited operating history.

      Islamic religious law commonly known as Sharia has certain restrictions regarding finance and commercial activities permitted for Muslims, including interest restrictions and prohibited industries, which reduces the size of the overall universe in which the Fund can invest. The strategy to reduce the investable universe may limit investment opportunities and adversely affect the Fund’s performance, especially in comparison to a more diversified fund.

      Investments in emerging market securities impose risks different from, or greater than, risks of investing in foreign developedcountries, including smaller market capitalization; significant price volatility; and restrictions on foreign investment. Passive Investment Risk. The Fund invests in the securities included in, or representative of, its Index regardless of their investment merit. The Fund does not attempt to outperform its Index or take defensive positions in declining markets. As a result, the Fund’s performance may be adversely affectedby a general decline in the market segments relating to its Index.

      Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate.

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      SP Funds is committed to protecting your privacy. We use your registration information to customize and deliver additional resources via email and mail, including company news and new blog posts. If you don’t want to receive mail or email from us, simply uncheck the boxes at the bottom of this form. To learn more about how we handle your personal information, read our Privacy Policy.

      Contact Information

      (425) 409-9500

      info@sp-funds.com

      1331 S. International Pkwy Suite #2291
      Lake Mary, FL 32746, USA