KSA vs. HLAL
Compare and contrast key facts about iShares MSCI Saudi Arabia ETF (KSA) and Wahed FTSE USA Shariah ETF (HLAL).
KSA and HLAL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KSA is a passively managed fund by iShares that tracks the performance of the MSCI Saudi Arabia Investable Market Index (IMI) 25/50 Index. It was launched on Sep 16, 2015. HLAL is a passively managed fund by Wahed that tracks the performance of the FTSE Shariah USA Index. It was launched on Jul 16, 2019. Both KSA and HLAL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
KSA vs. HLAL - Performance Comparison
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KSA vs. HLAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
KSA iShares MSCI Saudi Arabia ETF | 9.17% | -8.20% | -0.19% | 15.05% | -6.06% | 33.62% | 2.65% | -7.98% |
HLAL Wahed FTSE USA Shariah ETF | -4.25% | 18.30% | 16.70% | 30.13% | -17.56% | 28.64% | 24.65% | 10.96% |
Returns By Period
In the year-to-date period, KSA achieves a 9.17% return, which is significantly higher than HLAL's -4.25% return.
KSA
- 1D
- 2.47%
- 1M
- 6.94%
- YTD
- 9.17%
- 6M
- -0.86%
- 1Y
- -1.07%
- 3Y*
- 3.88%
- 5Y*
- 4.57%
- 10Y*
- 8.88%
HLAL
- 1D
- 3.24%
- 1M
- -5.69%
- YTD
- -4.25%
- 6M
- 0.23%
- 1Y
- 22.13%
- 3Y*
- 15.73%
- 5Y*
- 11.68%
- 10Y*
- —
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KSA vs. HLAL - Expense Ratio Comparison
KSA has a 0.74% expense ratio, which is higher than HLAL's 0.50% expense ratio.
Return for Risk
KSA vs. HLAL — Risk / Return Rank
KSA
HLAL
KSA vs. HLAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Saudi Arabia ETF (KSA) 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.
| KSA | HLAL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.06 | 1.14 | -1.20 |
Sortino ratioReturn per unit of downside risk | 0.05 | 1.76 | -1.71 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.26 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | -0.03 | 1.72 | -1.75 |
Martin ratioReturn relative to average drawdown | -0.05 | 7.90 | -7.95 |
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
| KSA | HLAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.06 | 1.14 | -1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.67 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.73 | -0.40 |
Correlation
The correlation between KSA and HLAL is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
KSA vs. HLAL - Dividend Comparison
KSA's dividend yield for the trailing twelve months is around 2.70%, more than HLAL's 0.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KSA iShares MSCI Saudi Arabia ETF | 2.70% | 2.95% | 3.44% | 2.44% | 1.93% | 1.58% | 1.76% | 2.15% | 2.51% | 2.30% | 3.05% | 0.04% |
HLAL Wahed FTSE USA Shariah ETF | 0.55% | 0.53% | 0.58% | 0.72% | 1.15% | 0.78% | 0.97% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
KSA vs. HLAL - Drawdown Comparison
The maximum KSA drawdown since its inception was -40.56%, which is greater than HLAL's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for KSA and HLAL.
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Drawdown Indicators
| KSA | HLAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.56% | -33.57% | -6.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -13.15% | +1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -28.08% | -23.18% | -4.90% |
Max Drawdown (10Y)Largest decline over 10 years | -40.56% | — | — |
Current DrawdownCurrent decline from peak | -13.35% | -7.30% | -6.05% |
Average DrawdownAverage peak-to-trough decline | -11.38% | -5.10% | -6.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.51% | 2.86% | +3.65% |
Volatility
KSA vs. HLAL - Volatility Comparison
iShares MSCI Saudi Arabia ETF (KSA) has a higher volatility of 7.02% compared to Wahed FTSE USA Shariah ETF (HLAL) at 5.80%. This indicates that KSA's price experiences larger fluctuations and is considered to be riskier 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
| KSA | HLAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 5.80% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 12.13% | 10.12% | +2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.17% | 19.52% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.94% | 17.52% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 20.33% | -0.16% |