ADJEX vs. WISEX

Last updated Jun 24, 2026

ADJEX (Azzad Ethical Fund) and WISEX (Azzad Wise Capital Fund) are both mutual funds - ADJEX is a Mid Cap Growth Equities fund managed by Azzad Fund, while WISEX is a Short-Term Bond fund managed by Azzad Fund. Over the past 10 years, ADJEX returned 9.98%/yr vs 2.43%/yr for WISEX. A 0.55 correlation means they provide meaningful diversification when combined. ADJEX charges 0.99%/yr vs 0.89%/yr for WISEX.

Performance

ADJEX vs. WISEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azzad Ethical Fund (ADJEX) and Azzad Wise Capital Fund (WISEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADJEX achieves a 11.30% return, which is significantly higher than WISEX's 0.70% return. Over the past 10 years, ADJEX has outperformed WISEX with an annualized return of 9.98%, while WISEX has yielded a comparatively lower 2.43% annualized return.

ADJEX

• 1D: 0.55%
• 1M: 4.14%
• YTD: 11.30%
• 6M: 9.15%
• 1Y: 13.45%
• 3Y*: 7.21%
• 5Y*: 2.24%
• 10Y*: 9.98%

WISEX

• 1D: 0.00%
• 1M: 0.51%
• YTD: 0.70%
• 6M: 0.74%
• 1Y: 3.56%
• 3Y*: 4.21%
• 5Y*: 2.36%
• 10Y*: 2.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADJEX vs. WISEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADJEX Azzad Ethical Fund	11.30%	1.43%	1.70%	24.25%	-27.82%	17.60%	30.47%	30.01%	-3.25%	23.40%
WISEX Azzad Wise Capital Fund	0.70%	5.29%	4.53%	3.90%	-3.37%	1.99%	3.52%	5.23%	-0.08%	2.68%

Correlation

The correlation between ADJEX and WISEX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Mar 31, 2010	0.55

The correlation between ADJEX and WISEX shifts across timeframes, from 0.41 (1 year) to 0.60 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

ADJEX vs. WISEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADJEX

ADJEX Risk / Return Rank: 11
ADJEX Sharpe Ratio Rank: 10
ADJEX Sortino Ratio Rank: 10
ADJEX Omega Ratio Rank: 10
ADJEX Calmar Ratio Rank: 11
ADJEX Martin Ratio Rank: 12

WISEX

WISEX Risk / Return Rank: 67
WISEX Sharpe Ratio Rank: 90
WISEX Sortino Ratio Rank: 93
WISEX Omega Ratio Rank: 93
WISEX Calmar Ratio Rank: 29
WISEX Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADJEX vs. WISEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azzad Ethical Fund (ADJEX) and Azzad Wise Capital Fund (WISEX). 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.

	ADJEX	WISEX	Difference
Sharpe ratio: Return per unit of total volatility	0.80	2.75	-1.95
Sortino ratio: Return per unit of downside risk	1.21	4.36	-3.15
Omega ratio: Gain probability vs. loss probability	1.14	1.68	-0.54
Calmar ratio: Return relative to maximum drawdown	1.01	1.91	-0.90
Martin ratio: Return relative to average drawdown	3.19	6.31	-3.12

ADJEX vs. WISEX - Sharpe Ratio Comparison

The current ADJEX Sharpe Ratio is 0.80, which is lower than the WISEX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of ADJEX and WISEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ADJEX vs. WISEX - Drawdown Comparison

The maximum ADJEX drawdown since its inception was -55.62%, which is greater than WISEX's maximum drawdown of -5.28%. Use the drawdown chart below to compare losses from any high point for ADJEX and WISEX.

Drawdown Indicators

	ADJEX	WISEX	Difference
Max Drawdown Largest peak-to-trough decline	-55.62%	-5.28%	-50.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.38%	-1.92%	-12.46%
Max Drawdown (3Y) Largest decline over 3 years	-25.81%	-1.92%	-23.89%
Max Drawdown (5Y) Largest decline over 5 years	-37.22%	-5.28%	-31.94%
Max Drawdown (10Y) Largest decline over 10 years	-37.22%	-5.28%	-31.94%
Current Drawdown Current decline from peak	-1.48%	-0.48%	-1.00%
Average Drawdown Average peak-to-trough decline	-12.52%	-0.66%	-11.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.54%	0.58%	+3.96%

Volatility

ADJEX vs. WISEX - Volatility Comparison

Azzad Ethical Fund (ADJEX) has a higher volatility of 7.27% compared to Azzad Wise Capital Fund (WISEX) at 0.44%. This indicates that ADJEX's price experiences larger fluctuations and is considered to be riskier than WISEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADJEX	WISEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	0.44%	+6.83%
Volatility (6M) Calculated over the trailing 6-month period	14.49%	1.13%	+13.36%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	1.34%	+16.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.72%	1.54%	+21.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.58%	1.65%	+19.93%

ADJEX vs. WISEX - Expense Ratio Comparison

ADJEX has a 0.99% expense ratio, which is higher than WISEX's 0.89% expense ratio.

Dividends

ADJEX vs. WISEX - Dividend Comparison

ADJEX has not paid dividends to shareholders, while WISEX's dividend yield for the trailing twelve months is around 3.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADJEX Azzad Ethical Fund	0.00%	0.00%	5.47%	2.53%	0.06%	12.81%	5.62%	6.35%	6.37%	14.98%	0.09%	0.69%
WISEX Azzad Wise Capital Fund	3.61%	3.56%	3.59%	2.20%	1.54%	1.42%	1.31%	1.84%	1.66%	1.11%	0.99%	0.47%

Frequently Asked Questions

Can I hold both ADJEX and WISEX in my portfolio?

ADJEX and WISEX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADJEX or WISEX?

ADJEX has higher volatility (7.27%) compared to WISEX (0.44%). In terms of maximum drawdown, ADJEX dropped -55.62% vs WISEX's -5.28%.

Which has better risk-adjusted returns?

WISEX currently has the higher Sharpe Ratio (2.75 vs 0.80), 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.