HLAL vs. SNOW

Last updated Jun 4, 2026

HLAL (Wahed FTSE USA Shariah ETF) is Large Cap Growth Equities fund tracking the FTSE Shariah USA Index, while SNOW (Snowflake Inc.) is a stock. Over the past 5 years, HLAL returned 15.86%/yr vs -0.11%/yr for SNOW. At a 0.50 correlation, their price movements are largely independent.

Performance

HLAL vs. SNOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wahed FTSE USA Shariah ETF (HLAL) and Snowflake Inc. (SNOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLAL achieves a 18.72% return, which is significantly higher than SNOW's 9.99% return.

HLAL

• 1D: -0.07%
• 1M: 9.45%
• YTD: 18.72%
• 6M: 17.75%
• 1Y: 43.63%
• 3Y*: 22.04%
• 5Y*: 15.86%
• 10Y*: —

SNOW

• 1D: -7.61%
• 1M: 67.31%
• YTD: 9.99%
• 6M: -8.95%
• 1Y: 15.36%
• 3Y*: 11.26%
• 5Y*: -0.11%
• 10Y*: —

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

HLAL vs. SNOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HLAL Wahed FTSE USA Shariah ETF	18.72%	18.30%	16.70%	30.13%	-17.56%	28.64%	13.11%
SNOW Snowflake Inc.	9.99%	42.06%	-22.41%	38.64%	-57.63%	20.38%	10.82%

Correlation

The correlation between HLAL and SNOW is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020	0.50

Over the past year, the correlation between HLAL and SNOW has dropped to 0.28 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

HLAL vs. SNOW — Risk / Return Rank

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

HLAL

HLAL Risk / Return Rank: 88
HLAL Sharpe Ratio Rank: 91
HLAL Sortino Ratio Rank: 92
HLAL Omega Ratio Rank: 90
HLAL Calmar Ratio Rank: 81
HLAL Martin Ratio Rank: 88

SNOW

SNOW Risk / Return Rank: 49
SNOW Sharpe Ratio Rank: 49
SNOW Sortino Ratio Rank: 51
SNOW Omega Ratio Rank: 51
SNOW Calmar Ratio Rank: 47
SNOW Martin Ratio Rank: 47

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.

HLAL vs. SNOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wahed FTSE USA Shariah ETF (HLAL) and Snowflake Inc. (SNOW). 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.

	HLAL	SNOW	Difference
Sharpe ratio: Return per unit of total volatility	3.33	0.24	+3.09
Sortino ratio: Return per unit of downside risk	4.62	0.91	+3.71
Omega ratio: Gain probability vs. loss probability	1.59	1.12	+0.47
Calmar ratio: Return relative to maximum drawdown	4.30	0.27	+4.02
Martin ratio: Return relative to average drawdown	19.85	0.60	+19.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLAL vs. SNOW - Sharpe Ratio Comparison

The current HLAL Sharpe Ratio is 3.33, which is higher than the SNOW Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of HLAL and SNOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HLAL	SNOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	0.24	+3.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	-0.00	+0.91
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	-0.01	+0.91

Drawdowns

HLAL vs. SNOW - Drawdown Comparison

The maximum HLAL drawdown since its inception was -33.57%, smaller than the maximum SNOW drawdown of -72.99%. Use the drawdown chart below to compare losses from any high point for HLAL and SNOW.

Drawdown Indicators

	HLAL	SNOW	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-72.99%	+39.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-56.30%	+46.10%
Max Drawdown (3Y) Largest decline over 3 years	-21.67%	-56.30%	+34.63%
Max Drawdown (5Y) Largest decline over 5 years	-23.18%	-72.99%	+49.81%
Current Drawdown Current decline from peak	-0.07%	-39.96%	+39.89%
Average Drawdown Average peak-to-trough decline	-5.00%	-49.10%	+44.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	25.82%	-23.62%

Volatility

HLAL vs. SNOW - Volatility Comparison

The current volatility for Wahed FTSE USA Shariah ETF (HLAL) is 3.70%, while Snowflake Inc. (SNOW) has a volatility of 36.32%. This indicates that HLAL experiences smaller price fluctuations and is considered to be less risky than SNOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLAL	SNOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	36.32%	-32.62%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	54.14%	-44.19%
Volatility (1Y) Calculated over the trailing 1-year period	13.17%	65.21%	-52.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.60%	61.92%	-44.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	62.81%	-42.60%

Dividends

HLAL vs. SNOW - Dividend Comparison

HLAL's dividend yield for the trailing twelve months is around 0.44%, while SNOW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HLAL Wahed FTSE USA Shariah ETF	0.44%	0.53%	0.58%	0.72%	1.15%	0.78%	0.97%	0.72%
SNOW Snowflake Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HLAL and SNOW in my portfolio?

HLAL and SNOW have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLAL or SNOW?

SNOW has higher volatility (36.32%) compared to HLAL (3.70%). In terms of maximum drawdown, HLAL dropped -33.57% vs SNOW's -72.99%.

Which has better risk-adjusted returns?

HLAL currently has the higher Sharpe Ratio (3.33 vs 0.24), 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.