UMMA ETF: What Is It? — A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The Wahed Dow Jones Islamic World ETF, UMMA, provides diversified exposure to non-US global equities screened for Shariah compliance. Key selection criteria include the expense ratio, dividend policy, the Shariah screening methodology, and exposure to non-US regions.
SubscribeWhat Is the Wahed Dow Jones Islamic World ETF?
It is a global equity ETF that invests in large-cap stocks from around the world, excluding the United States, that pass Islamic law-based (Shariah) screening. It seeks performance similar to the Dow Jones Islamic Market International Titans 100 Index, while excluding industries deemed non-compliant under Shariah.
It is well suited for investors seeking globally diversified exposure that reflects ethical or faith-based criteria, or for those looking to complement their portfolios with non-US regional exposure.
The fund is actively managed by Wahed Invest.
How Does the Wahed Dow Jones Islamic World ETF Invest?
| Item | Details |
|---|---|
| Benchmark Index | Dow Jones Islamic Market International Titans 100 |
| Management Style | Active (index-similar tracking) |
| Rebalancing Cycle | Periodic (at manager discretion) |
| Dividend Schedule | Annual |
| Total Expense Ratio | 0.65% |
The fund selects and diversifies across large-cap global stocks outside the US that pass Shariah screening. The portfolio managers seek performance similar to the Dow Jones Islamic Market International Titans 100 Index while actively reviewing Shariah compliance and constructing the portfolio at their discretion.
- Applies Islamic law (Shariah) screening
- Exposes investors to large-cap global stocks outside the US
Wahed Dow Jones Islamic World ETF: Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $305.3M, with a total expense ratio of 0.65% annually.
Within the globally diversified ETF universe, the application of Shariah criteria is the core point of differentiation from standard international equity ETFs.
Wahed Dow Jones Islamic World ETF: Performance and Fund Flows
1-Year Price Performance
Dividend & Yield
52-Week Price RangeReturns tend to move in line with trends in non-US global equity markets, currency movements, and the business conditions of Shariah-compliant industries. In the short term, the fund is also exposed to international large-cap volatility and currency dynamics.
Fund flows are shaped by demand for Shariah-compliant global investments and interest in ethical investing. Because the category itself is relatively specialized, asset levels tend to be more limited compared with broad core ETFs.
Wahed Dow Jones Islamic World ETF: Strengths and Weaknesses
Globally diversified exposure based on Shariah criteria is the key strength, while the specialized nature of the category means the expense ratio and asset size can be drawbacks.
💪 Key Strengths
⚠️ Points to Watch
Wahed Dow Jones Islamic World ETF: Alternative ETFs and Related Products
FNDF and GSIE shown in the table offer broad exposure to non-US global and international large caps and serve as comparable benchmarks, but they differ from UMMA in that they do not apply Shariah screening. IGF, GUNR, and GNR are global ETFs concentrated in specific sectors such as infrastructure and natural resources. As additional options, HLAL — composed of Shariah-compliant stocks within the US market — can serve as a direct substitute, while SPDW can also be considered for investors seeking broad developed-market exposure.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 FNDF | Schwab Fundamental International Equity ETF | $53.61 | -0.6% | $25.8B | 0.25% | 3.05% | +21.5% |
 IGF | iShares Global Infrastructure ETF | $65.64 | -0.3% | $10.9B | 0.37% | 2.94% | +7.1% |
 GUNR | Northern Trust Morningstar Global Upstream Natural Resources ETF | $52.39 | -1.3% | $7.0B | 0.46% | 2.35% | +21.0% |
 GSIE | Goldman Sachs ActiveBeta International Equity ETF | $46.06 | -0.5% | $6.0B | 0.25% | 2.63% | +11.3% |
 GNR | State Street SPDR S&P Global Natural Resources ETF | $73.80 | -1.2% | $5.4B | 0.40% | 2.47% | +26.1% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing ADR | 0.31% | $404.80 | +1.6% | $2.10T | 26.1 | 1.03% |
| SKHY | SK Hynix Inc ADR | 0.14% | $150.79 | +2.1% | $1.10T | 9.8 | 1.53% |
| ASML | ASML Holding NV | 0.15% | $1552.14 | +1.7% | $598.2B | 38.2 | 0.68% |
| AZN | Astrazeneca plc | 0.03% | $183.88 | -1.4% | $285.2B | 26.0 | 1.82% |
Investor Checklist for the Wahed Dow Jones Islamic World ETF
Here are the key points to review before investing in UMMA. Because it is an ETF with a clearly defined Shariah-screening theme, the expense ratio, asset size, trading liquidity, and currency exposure should all be confirmed in advance.
| Checkpoint | What to Verify | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative cost impact over long-term holding | Needs review |
| 💧 Liquidity | Review trading volume and bid-ask spread | May be limited |
| 🌐 Regional Exposure | Confirm the non-US global diversification structure | Non-US global |
| 💱 Currency | Impact on returns when translated into won | Multi-currency exposure |
Because of the specialized nature of the category, asset size and liquidity can be limited, and as a non-US asset, FX fluctuations directly affect returns. During weaker periods for international equity markets, short-term losses can be amplified.
For investors seeking globally diversified exposure that reflects faith-based or ethical criteria, it represents a meaningful option. If you need Shariah-compliant exposure within the US market, HLAL is worth comparing, and if broad developed-market exposure is the goal, SPDW is also worth reviewing.
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 11, 2026.
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