ETF Evaluator: Wahed Dow Jones Islamic World ETF () Follow This ETF

Wahed Dow Jones Islamic World ETF Overview

Wahed Dow Jones Islamic World ETF (UMMA) is an actively managed International Equity Foreign Large Growth exchange-traded fund (ETF). Wahed Invest launched the ETF in 2022.

The investment seeks long-term capital appreciation. The fund is an actively-managed exchange-traded fund (“ETF”) that seeks to invests in equity securities of global companies (excluding U.S. domiciled companies) the characteristics of which meet the requirements of Shariah and are consistent with Islamic principles as interpreted by subject-matter experts (each, a “Shariah Compliant Company”). The adviser seeks to invest the fund’s assets in securities similar to the components of, and to achieve returns similar to those of, the Dow Jones Islamic Market International Titans 100 Index (the “Index”). The fund is non-diversified.

About Wahed Dow Jones Islamic World ETF (UMMA)

There are 1 members of the management team with an average tenure of 4.57 years: Samim Abedi (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and Bloomberg World ex-US Large-Mid TR USD index with a weighting of 100%. Wahed Dow Jones Islamic World ETF has 95 securities in its portfolio. The top 10 holdings constitute 43.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Wahed Dow Jones Islamic World ETF is part of the Equity global asset class and is within the International Equity ETF group. Wahed Dow Jones Islamic World ETF has 99.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.8% There is 99.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Wahed Dow Jones Islamic World ETF has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $284 million in total assets, which is below the $1 billion average for the Foreign Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

UMMA Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Wahed Dow Jones Islamic World ETF expense ratio is above average compared to funds in the Foreign Large Growth category. Wahed Dow Jones Islamic World ETF has an expense ratio of 0.65%, which is 11% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Wahed Dow Jones Islamic World ETF has a portfolio turnover rate of 15%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 58% for the Foreign Large Growth category.

Recently, in the month of July 2026, Wahed Dow Jones Islamic World ETF returned -6.5%, which earned it a grade of F, as the Foreign Large Growth category had an average return of -2.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Wahed Dow Jones Islamic World ETF has a trailing yield of 0.98%, which is below the 1.31% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Wahed Dow Jones Islamic World ETF Grades

Year to date, the ETF has returned 23.8%, 15.6 percentage points better than the category, which translates into a grade of A. The fund has returned 42.2% over the past year (grade of A) and 18.6% over the past three years (grade of A).

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