SPSK ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The SP Funds Dow Jones Global Sukuk ETF is a passive product that invests in global sukuk compliant with Islamic law, offering Sharia-compliant income and distributions. Credit risk, fees, and interest rate sensitivity are the key items to check, comparison with conventional bond ETFs is the main selection criterion, and the trading ticker is SPSK.
SubscribeWhat Is the SP Funds Dow Jones Global Sukuk ETF?
This is a passive bond ETF that tracks an index of investment-grade, US dollar-denominated sukuk issued in line with the Islamic finance principle prohibiting interest. Sukuk are Islamic financial certificates with a structure similar to bonds.
It suits investors who want bond-like income in a way that complies with Islamic law, as well as income investors looking to diversify with sukuk.
It is a passive (index-tracking) ETF managed by SP Funds.
How Does the SP Funds Dow Jones Global Sukuk ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Dow Jones Global Sukuk Index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Periodic (per index rules) |
| Distribution Frequency | Monthly |
| Total Expense Ratio | 0.50% |
The fund tracks an index of investment-grade, US dollar-denominated sukuk issued in line with the Islamic finance principle prohibiting interest. Sukuk are issued in a form that distributes the returns of an underlying asset, providing bond-like income, and the fund diversifies across global sukuk issued by governments, corporations, and quasi-governmental institutions.
- Invests in sukuk compliant with Islamic law
- Diversifies across investment-grade, US dollar-denominated sukuk
SP Funds Dow Jones Global Sukuk ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) are $476.5M, and the total expense ratio (Expense Ratio) is 0.50% per year.
Unlike conventional bond ETFs, it invests in sukuk compliant with Islamic law, but it carries similar basic bond risks, such as credit risk and interest rate fluctuations.
SP Funds Dow Jones Global Sukuk ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeSukuk are affected by the direction of interest rates, issuer credit conditions, and credit spreads. Prices tend to show relative strength during rate-cut phases, but they can be volatile when rates rise or when concerns about issuer credit grow. Depending on the share of issuers from the Middle East and emerging markets, regional risk is added as well.
Money tends to flow into sukuk ETFs when demand rises for Sharia-compliant income or sukuk diversification, and fund flows vary with changes in the interest rate environment and credit concerns.
SP Funds Dow Jones Global Sukuk ETF Strengths and Weaknesses
Its strengths are stable, Sharia-compliant income and global diversification, while its weaknesses are credit and regional risk, interest rate sensitivity, and currency exposure.
💪 Key Strengths
⚠️ Points to Note
SP Funds Dow Jones Global Sukuk ETF Alternative ETFs and Related Products
The IUSB, JCPB, and BINC shown in the table are ETFs that invest in conventional aggregate bonds and have no Sharia-compliant structure. For broader global bond exposure, you can also compare the aggregate bond ETF AGG, the aggregate bond ETF BND, and the emerging market government bond ETF EMB. These differ in credit composition, region, and fees, so it is best to choose according to your investment goals.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 BNDX | Vanguard Total International Bond ETF | $47.23 | +0.0% | $84.5B | 0.07% | 4.65% | -5.3% |
 IUSB | iShares Core Universal USD Bond ETF | $44.70 | -0.2% | $49.7B | 0.06% | 4.34% | -5.0% |
 BINC | iShares Flexible Income Active ETF | $50.66 | -0.1% | $16.7B | 0.40% | 5.76% | -4.8% |
 PYLD | PIMCO Multisector Bond Active ETF | $25.54 | -0.2% | $16.5B | 0.64% | 6.14% | -4.8% |
 JCPB | JPMorgan Core Plus Bond ETF | $45.33 | -0.2% | $16.3B | 0.37% | 5% | -5.3% |
SP Funds Dow Jones Global Sukuk ETF Investor Checkpoints
These are the points to review before investing in SPSK. As a sukuk ETF, it is important to check credit and regional risk, interest rate sensitivity, currency exposure, and the fee level in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fees of the sukuk ETF | Needs checking |
| 🏦 Credit and Region | Check issuer credit and regional risk | Needs checking |
| 📈 Rate Sensitivity | Check for price declines when rates rise | Needs checking |
| 💱 Currency | Check the impact of US dollar exchange rate changes | Unhedged |
The fund is exposed to issuer credit risk and to regional risk in the Middle East and emerging markets, and its price can fall when interest rates rise. Investors holding Korean won also bear US dollar exchange rate fluctuations, and should keep in mind that even though the fund is Sharia-compliant, it carries similar basic bond risks.
This is a passive ETF suited to investors who want bond-like income in a way that complies with Islamic law, as well as income investors looking to diversify with sukuk. If Sharia compliance is not required, a conventional bond ETF may be the better choice, and if you want Sharia-compliant income, SPSK can be an alternative.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 5, 2026.
Today's 5 AI picks, all free