Fund Evaluator:
Azzad Wise Capital (WISEX)
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Fund Details
Azzad Wise Capital Overview
Azzad Wise Capital (WISEX) is an actively managed Taxable Bond Short-Term Bond fund. Azzad Fund launched the fund in 2010.
The investment seeks to provide shareholders with capital preservation and income. The fund invests primarily in fixed income securities issued for payment by international financial institutions, foreign governments, and agencies of foreign governments in transactions structured to be compliant with the fund's ethical investment guidelines. It does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.
About Azzad Wise Capital (WISEX)
There are 4 members of the management team with an average tenure of 11.43 years: Jamal Elbarmil (2010), John Polinski (2014), Mohammed Elmi (2021), Ihab Salib (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA 1-3Y US Corp&Govt TR USD index with a weighting of 100%. Azzad Wise Capital has 274 securities in its portfolio. The top 10 holdings constitute 23.1% 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.
Azzad Wise Capital is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Azzad Wise Capital has 84.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 5.5%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 85.4% (0.8% domestic bond, 84.6% foreign bond and 0.0% convertible bond). Azzad Wise Capital has 9.2% of the portfolio in cash.
Assets Under Management
The fund has $373 million in total assets, which is below the $904 million average for the Short-Term Bond 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.
WISEX 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 Azzad Wise Capital expense ratio is high compared to funds in the Short-Term Bond category. Azzad Wise Capital has an expense ratio of 0.89%, which is 34% 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. Azzad Wise Capital has a portfolio turnover rate of 30%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 135% for the Short-Term Bond category.
Recently, in the month of July 2026, Azzad Wise Capital returned -0.2%, which earned it a grade of D, as the Short-Term Bond category had an average return of -0.0%. 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.
Azzad Wise Capital has a trailing yield of 3.60%, which is below the 4.16% category average. The fund normally distributes its income monthly and its capital gains 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.
Azzad Wise Capital Grades
Year to date, the fund has returned 0.7%, 0.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.8% over the past year (grade of F), 4.1% over the past three years (grade of F) and 2.3% per year over the past five years (grade of C) and 2.4% per year over the past 10 years (grade of C).
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WISEX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WISEX Return (NAV) | -0.2% | 0.3% | 2.8% | 4.1% | 2.3% | 2.4% |
| WISEX Grade | D | D | F | F | C | C |
| +/- Category | -0.1% | -0.0% | -0.7% | -0.9% | 0.1% | 0.1% |
| Short-Term Bond Avg | -0.0% | 0.3% | 3.4% | 5.0% | 2.2% | 2.3% |
| WISEX Tax Cost Ratio | na | na | 1.4% | 1.4% | 1.1% | 0.9% |
WISEX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WISEX Return (NAV) | 0.7% | 5.3% | 4.5% | 4.4% | -3.4% | 2.0% | 3.5% | 5.2% | -0.1% | 2.7% | 1.4% |
| WISEX Grade | D | D | D | F | A | A | D | B | F | A | D |
| +/- Category | -0.2% | -0.6% | -0.4% | -1.2% | 1.7% | 2.0% | -0.7% | 0.5% | -0.8% | 0.8% | -1.2% |
| Short-Term Bond Avg | 0.9% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.9% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 2.1% |
| Total Risk Index: | 0.17 - Low |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (70% Rank) |
| Beta: | 0.30 |
| R-Squared: | 68% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $373 Mil |
| Fund Total Assets: | $ 374 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 30% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 16.3 years | |||
| Average Tenure: 11.4 years | |||
| Managers (Year): Elbarmil Jamal (2010), Polinski John (2014), Salib Ihab (2014), Elmi Mohammed (2021) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 274 |
| % in Top 10 Holdings: | 23.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 84.6% |
Portfolio Allocation |
|
| Domestic Stock: | 5.5% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.8% |
| Foreign Bond: | 84.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 9.2% |
Purchase Information
| Fund Family: | Azzad Fund |
| Phone Number: | 888-350-3369 |
| Website: | www.azzadfund.com |
| Status: | Open |
| Inception Date: | April 1, 2010 |
| Min. Initial Purchase: | $4,000 |
| Min. Initial IRA Purchase: | $4,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.05% |
Expenses and Fees | |
| Expense Ratio (%): | 0.89% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | Azzad Wise Capital |
| Min. Subsequent Purchase: | $ 300 |
| Min. Subsequent IRA Purchase: | $ 300 |
