Wahed Dow Jones Islamic World ETF Company Overview
About Wahed Dow Jones Islamic World ETF
Wahed Dow Jones Islamic World ETF (NASDAQ:UMMA) is a fund that follows the Dow Jones Islamic Market International Titans 100 Index, aiming to offer investors exposure to compliant global equities within Islamic financial principles. It's traded on the Nasdaq under the symbol UMMA. The fund focuses on identifying and investing in companies across a wide range of sectors that meet strict ethical and Shariah-compliant criteria, excluding businesses involved in alcohol, tobacco, gambling, and other activities considered non-compliant. By doing so, Wahed Dow Jones Islamic World ETF strives to provide growth and value to investors looking for ethical investment opportunities, aligning financial objectives with personal beliefs. The organization's core objectives include expanding access to Islamic-compliant investment opportunities on a global scale and fostering financial inclusion among underserved communities by adhering to ethical investing principles.
Snapshot
Operations
Products and/or services of Wahed Dow Jones Islamic World ETF
- Tracks Islamic Index: UMMA tracks the Dow Jones Islamic Market International Titans 100 Index. This index includes stocks of Shariah-compliant companies from developed and emerging markets globally.
- Shariah-compliant: The ETF adheres to Islamic investment principles (Sharia law). This means it excludes companies involved in certain activities like alcohol, tobacco, gambling, and usury.
- Globally Diversified: UMMA offers exposure to a basket of Islamic stocks across various sectors and countries, promoting diversification in your portfolio.
- Passive Investment: UMMA passively tracks the underlying index, meaning it doesn't try to outperform the market through active stock selection.
- Low Expense Ratio: The ETF has a relatively low expense ratio compared to some actively managed funds. This fee covers the operational costs of running the fund.
- Exchange Traded: Units of UMMA are bought and sold just like any other stock on a stock exchange, such as the Nasdaq.