HLAL
Wahed FTSE USA Shariah ETF
The Wahad FTSE USA Shariah ETF tracks a principles-selected, market cap-weighted index of U.S. equities.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 923.7 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Inception date | Jul 15, 2019 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| APPLE INC | 13.2 % |
| MICROSOFT CORP | 9.5 % |
| ALPHABET INC. CLASS A | 6.3 % |
| BROADCOM INC. | 5.8 % |
| ALPHABET INC. CLASS C | 5.1 % |
| META PLATFORMS INC | 4.0 % |
| TESLA MOTORS INC | 3.6 % |
| MICRON TECHNOLOGY INC | 3.2 % |
| ELI LILLY & CO | 2.4 % |
| ADVANCED MICRO DEVICES | 2.3 % |
Constituent Breakdown
| Number of holdings | 207 |
| Herfindahl-Hirschman Index | 439 |
| Wgt avg mkt cap (mns) | $1,662,137 |
| Large cap (>$10bn) | 98.8% |
| Mid cap ($2-10bn) | 0.1% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.8% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 97.0 % |
 |
IRELAND | 1.3 % |
 |
BRITAIN | 0.8 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 17.9% | 43.2% | 22.7% | 22.0% | 14.9% | -- | -- | 16.9% |
| Dividend Yield | 0.2% | 0.8% | 0.8% | 0.7% | 0.9% | -- | -- | 1.0% |
| Total Returns | 18.1% | 43.9% | 23.4% | 22.7% | 15.8% | -- | -- | 18.0% | Ann. Volatility | 15.2% | 13.2% | 17.4% | 15.9% | 17.6% | -- | -- | 20.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.06 | 89% |
| MSCI EAFE | 0.65 | 55% |
| MSCI Emg Mkts | 0.51 | 59% |
Liquidity Measures
| Avg. volume (000) | 66 |
| ADV traded (mns) | $5 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.06% |
Technical Indicators
| 30d moving avg. (EMA) | $68.84 |
| Relative strength (RSI) | 71 |
| MACD/Signal | 1.85/1.77 |
| Bollinger Bands (Upper/Lower) | $73.23/$67.10 |
| Short interest (% of AUM) | 0.5% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HLAL |
Expenses vs. HLAL |
ALTAR Score™ vs. HLAL |
|---|---|---|---|---|
| SPUS | SP Funds S&P 500 Sharia Industry Exclusions ETF | 74.2% | -5 bp | +0.3% |
| MNZL | Manzil Russell Halal USA Broad MarketETF | 65.6% | -10 bp | +0.2% |
| PRXG | Praxis Impact Large Cap Growth ETF | 62.0% | -14 bp | -0.1% |
| VUG | Vanguard Growth ETF | 61.7% | -46 bp | +0.2% |
| IQSU | IQ Candriam U.S. Large Cap Equity ETF | 60.4% | -41 bp | +0.7% |
| IVW | iShares S&P 500 Growth ETF | 59.3% | -32 bp | -0.3% |
| VOOG | Vanguard S&P 500 Growth ETF | 59.3% | -43 bp | -0.2% |
| SPYG | State Street SPDR Portfolio S&P 500 Growth ETF | 59.1% | -46 bp | -0.1% |
| SPXN | ProShares S&P 500 Ex-Financials ETF | 58.7% | -41 bp | +0.6% |
| MGK | Vanguard Mega Cap Growth ETF | 58.3% | -43 bp | +0.2% |
Risk and Returns: HLAL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/3/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
3.9%
ALTAR SCORE™
26th
PERCENTILE
UNDERWEIGHT
ETFRC RATING
There are 1,399 funds in the US Equity category with an average
ALTAR Score™ of 5.3% and a standard deviation
of 2.1%. HLAL's ALTAR Score™ is approximately -0.6 standard
deviations above the category average. This places HLAL in the 26th percentile
among funds in the category.
Sell-Side Consensus
$78.01
PRICE TARGET
+6.0%
UPSIDE