SP Funds Dow Jones Global Sukuk ETF
Top 10 Holdings
What is SPSK?
The SP Funds Dow Jones Global Sukuk ETF (the Fund or the Sukuk ETF ) seeks to track the performance, before fees andexpenses, of the Dow Jones Sukuk Total Return (ex Reinvestment) Index (the Index or the Sukuk Index ). The Index includes U.S. dollar-denominated investment-grade sukuk, which are financial certificates, similar to bonds, issuedin the global markets and structured to comply with Islamic religious law commonly known as Sharia and its investment principles. Unlike conventional bonds, sukuk are based on a variety of contracts to create financial obligations, and the returns to investorsare considered to be profit sharing, not interest. Issuers of sukuk may include international financial institutions, foreigngovernments (including in emerging markets), and foreign government agencies or instrumentalities that issue sukuk througha secondary issuing vehicle such as a trust. Sharia has certain restrictions regarding finance and commercial activities, includinginterest restrictions and prohibited industries and only sukuk, as screened by Thomson Reuters, is eligible for the Index. TheFund considers emerging market countries to be those countries included in the MSCI Emerging Markets Index.
ETFs related toSPSK
ETFs correlated to SPSK include UNIY, MBB, JSCP
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.