Fund Evaluator:
Amana Income Investor (AMANX)
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Best Performing in Large Blend Over the Last Year
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Fund Details
Amana Income Investor Overview
Amana Income Investor (AMANX) is an actively managed U.S. Equity Large Blend fund. Amana launched the fund in 1986.
The investment seeks current income and preservation of capital, consistent with Islamic principles; current income is its primary objective. The fund invests primarily in dividend-paying common stocks, including foreign stocks. Investment decisions are made in accordance with Islamic principles. It is the policy of the fund, under normal circumstances, to invest at least 80% of its total net assets in income-producing securities, primarily dividend-paying common stocks.
About Amana Income Investor (AMANX)
There are 3 members of the management team with an average tenure of 4.92 years: Monem Salam (2018), Bryce Fegley (2020), Levi Zurbrugg (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Large Cap TR USD index with a weighting of 100% and Bloomberg 1000 Value TR USD index with a weighting of 100%. Amana Income Investor has 32 securities in its portfolio. The top 10 holdings constitute 59.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Amana Income Investor is part of the Equity global asset class and is within the U.S. Equity fund group. Amana Income Investor has 26.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 71.8%. There is 26.5% 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). Amana Income Investor has 1.7% of the portfolio in cash.
Assets Under Management
The fund has $926 million in total assets, which is below the $6 billion average for the Large Blend 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.
AMANX 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 Amana Income Investor expense ratio is high compared to funds in the Large Blend category. Amana Income Investor has an expense ratio of 1.01%, which is 24% 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. Amana Income Investor has a portfolio turnover rate of 10%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of August 2026, Amana Income Investor returned -0.3%, which earned it a grade of F, as the Large Blend category had an average return of 2.1%. 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 funds in that category.
Amana Income Investor has a trailing yield of 0.45%, which is below the 0.55% category average. The fund normally distributes its income semi-annually and its capital gains semi-annually.
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.
Amana Income Investor Grades
Year to date, the fund has returned 12.5%, 0.9 percentage points better than the category, which translates into a grade of C. The fund has returned 19.4% over the past year (grade of C), 15.1% over the past three years (grade of F) and 10.3% per year over the past five years (grade of D) and 11.8% per year over the past 10 years (grade of F).
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AMANX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AMANX Return (NAV) | -0.3% | 2.3% | 19.4% | 15.1% | 10.3% | 11.8% |
| AMANX Grade | F | C | C | F | D | F |
| +/- Category | -2.4% | -0.0% | 1.8% | -3.7% | -0.7% | -2.1% |
| Large Blend Avg | 2.1% | 2.3% | 17.6% | 18.8% | 11.0% | 13.9% |
| AMANX Tax Cost Ratio | na | na | 1.2% | 1.3% | 1.4% | 1.4% |
AMANX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AMANX Return (NAV) | 12.5% | 16.4% | 12.9% | 13.5% | -8.7% | 22.5% | 13.9% | 25.3% | -5.2% | 21.7% | 9.3% |
| AMANX Grade | C | C | F | F | A | F | D | F | C | B | D |
| +/- Category | 0.9% | 0.5% | -9.2% | -10.1% | 8.6% | -4.0% | -3.6% | -4.6% | 0.6% | 0.4% | -0.9% |
| Large Blend Avg | 11.6% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 11.8% |
| Total Risk Index: | 0.97 - Average |
| Category Risk Index: | 0.90 - Low |
| Category Risk Grade: | A (12% Rank) |
| Beta: | 0.76 |
| R-Squared: | 70% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.5% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $2363 Mil |
| Fund Total Assets: | $ 927 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 10% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.1 years | |||
| Average Tenure: 4.9 years | |||
| Managers (Year): Salam Monem (2018), Fegley Bryce (2020), Zurbrugg Levi (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 32 |
| % in Top 10 Holdings: | 59.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 26.5% |
Portfolio Allocation |
|
| Domestic Stock: | 71.8% |
| Foreign Stock: | 26.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.7% |
Purchase Information
| Fund Family: | Amana |
| Phone Number: | 888-732-6262 |
| Website: | www.amanafunds.com |
| Status: | Open |
| Inception Date: | June 23, 1986 |
| Min. Initial Purchase: | $ 100 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.01% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Amana Income Investor |
| Min. Subsequent Purchase: | $ 25 |
| Min. Subsequent IRA Purchase: | $ 0 |
