^IMUS vs. HLAL
^IMUS (Dow Jones Islamic Market U.S. Index) is an index, while HLAL (Wahed FTSE USA Shariah ETF) is Large Cap Growth Equities fund tracking the FTSE Shariah USA Index. Over the past 5 years, ^IMUS returned 12.02%/yr vs 14.31%/yr for HLAL. With a 0.95 correlation, they move nearly in lockstep.
Performance
^IMUS vs. HLAL - Performance Comparison
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Returns By Period
In the year-to-date period, ^IMUS achieves a 8.63% return, which is significantly lower than HLAL's 12.94% return.
^IMUS
- 1D
- -2.05%
- 1M
- -2.45%
- YTD
- 8.63%
- 6M
- 7.58%
- 1Y
- 26.94%
- 3Y*
- 20.01%
- 5Y*
- 12.02%
- 10Y*
- 15.43%
HLAL
- 1D
- -2.47%
- 1M
- -1.61%
- YTD
- 12.94%
- 6M
- 11.97%
- 1Y
- 34.34%
- 3Y*
- 19.26%
- 5Y*
- 14.31%
- 10Y*
- —
^IMUS vs. HLAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
^IMUS Dow Jones Islamic Market U.S. Index | 8.63% | 16.79% | 24.16% | 32.07% | -25.45% | 27.79% | 28.19% | 8.18% |
HLAL Wahed FTSE USA Shariah ETF | 12.94% | 18.30% | 16.70% | 30.13% | -17.56% | 28.64% | 24.65% | 10.61% |
Correlation
The correlation between ^IMUS and HLAL is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019 | 0.95 |
The correlation between ^IMUS and HLAL has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
^IMUS vs. HLAL — Risk / Return Rank
^IMUS
HLAL
^IMUS vs. HLAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dow Jones Islamic Market U.S. Index (^IMUS) and Wahed FTSE USA Shariah ETF (HLAL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^IMUS | HLAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.43 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 3.38 | -0.92 |
| Martin ratioReturn relative to average drawdown | 10.01 | 14.57 | -4.56 |
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Drawdowns
^IMUS vs. HLAL - Drawdown Comparison
The maximum ^IMUS drawdown since its inception was -47.72%, which is greater than HLAL's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for ^IMUS and HLAL.
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Drawdown Indicators
| ^IMUS | HLAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.72% | -33.57% | -14.15% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -10.20% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -22.09% | -21.67% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -29.97% | -23.18% | -6.79% |
Max Drawdown (10Y)Largest decline over 10 years | -32.20% | — | — |
Current DrawdownCurrent decline from peak | -5.16% | -4.93% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -9.64% | -4.99% | -4.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.36% | +0.34% |
Volatility
^IMUS vs. HLAL - Volatility Comparison
The current volatility for Dow Jones Islamic Market U.S. Index (^IMUS) is 6.27%, while Wahed FTSE USA Shariah ETF (HLAL) has a volatility of 6.71%. This indicates that ^IMUS experiences smaller price fluctuations and is considered to be less risky than HLAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^IMUS | HLAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.27% | 6.71% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 11.88% | 11.63% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 14.42% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.48% | 17.80% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.62% | 20.27% | -0.65% |
Frequently Asked Questions
With a correlation of 0.93, ^IMUS and HLAL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HLAL has higher volatility (6.71%) compared to ^IMUS (6.27%). In terms of maximum drawdown, ^IMUS dropped -47.72% vs HLAL's -33.57%.
HLAL currently has the higher Sharpe Ratio (2.40 vs 1.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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