^IMXL vs. UMMA
^IMXL (Dow Jones Islamic Market Titans 100 Index) is an index, while UMMA (Wahed Dow Jones Islamic World ETF) is Foreign Large Cap Equities fund tracking the Dow Jones Islamic Market International Titans 100 Index. Over the past 3 years, ^IMXL returned 24.35%/yr vs 19.73%/yr for UMMA. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
^IMXL vs. UMMA - Performance Comparison
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Returns By Period
In the year-to-date period, ^IMXL achieves a 14.62% return, which is significantly lower than UMMA's 23.76% return.
^IMXL
- 1D
- -0.10%
- 1M
- 4.07%
- YTD
- 14.62%
- 6M
- 14.23%
- 1Y
- 38.42%
- 3Y*
- 24.35%
- 5Y*
- 14.79%
- 10Y*
- 15.59%
UMMA
- 1D
- -6.47%
- 1M
- 1.09%
- YTD
- 23.76%
- 6M
- 26.02%
- 1Y
- 42.22%
- 3Y*
- 19.73%
- 5Y*
- —
- 10Y*
- —
^IMXL vs. UMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
^IMXL Dow Jones Islamic Market Titans 100 Index | 14.62% | 20.39% | 26.01% | 33.51% | -23.08% |
UMMA Wahed Dow Jones Islamic World ETF | 23.76% | 26.65% | 4.67% | 18.84% | -21.62% |
Correlation
The correlation between ^IMXL and UMMA is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2022 | 0.80 |
The correlation between ^IMXL and UMMA has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.
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Return for Risk
^IMXL vs. UMMA — Risk / Return Rank
^IMXL
UMMA
^IMXL vs. UMMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dow Jones Islamic Market Titans 100 Index (^IMXL) and Wahed Dow Jones Islamic World ETF (UMMA). 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.
| ^IMXL | UMMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.36 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 2.84 | -0.25 |
| Martin ratioReturn relative to average drawdown | 10.84 | 11.01 | -0.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ^IMXL | UMMA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | 2.01 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.49 | -0.04 |
Drawdowns
^IMXL vs. UMMA - Drawdown Comparison
The maximum ^IMXL drawdown since its inception was -48.36%, which is greater than UMMA's maximum drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for ^IMXL and UMMA.
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Drawdown Indicators
| ^IMXL | UMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.36% | -34.17% | -14.19% |
Max Drawdown (1Y)Largest decline over 1 year | -11.34% | -14.93% | +3.59% |
Max Drawdown (3Y)Largest decline over 3 years | -20.41% | -18.73% | -1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -30.52% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.52% | — | — |
Current DrawdownCurrent decline from peak | -0.77% | -7.31% | +6.54% |
Average DrawdownAverage peak-to-trough decline | -10.79% | -9.81% | -0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 3.84% | -0.85% |
Volatility
^IMXL vs. UMMA - Volatility Comparison
The current volatility for Dow Jones Islamic Market Titans 100 Index (^IMXL) is 2.86%, while Wahed Dow Jones Islamic World ETF (UMMA) has a volatility of 9.81%. This indicates that ^IMXL experiences smaller price fluctuations and is considered to be less risky than UMMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^IMXL | UMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 9.81% | -6.95% |
Volatility (6M)Calculated over the trailing 6-month period | 9.61% | 18.59% | -8.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.74% | 21.16% | -9.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 20.77% | -3.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 20.77% | -4.11% |
Frequently Asked Questions
^IMXL and UMMA have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UMMA has higher volatility (9.81%) compared to ^IMXL (2.86%). In terms of maximum drawdown, ^IMXL dropped -48.36% vs UMMA's -34.17%.
^IMXL currently has the higher Sharpe Ratio (2.51 vs 2.01), 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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