MNZL vs. AMDWX

Last updated Jun 4, 2026

MNZL (Manzil Russell Halal USA Broad Market ETF) and AMDWX (Amana Mutual Funds Trust Developing World Fund) are both funds - MNZL is a Large Cap Blend Equities fund tracking the Russell IdealRatings Manzil Halal USA Broad Market Index, while AMDWX is a Emerging Markets Diversified fund managed by Amana. A 0.77 correlation means they provide meaningful diversification when combined. MNZL charges 0.40%/yr vs 1.14%/yr for AMDWX.

Performance

MNZL vs. AMDWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manzil Russell Halal USA Broad Market ETF (MNZL) and Amana Mutual Funds Trust Developing World Fund (AMDWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNZL achieves a 19.44% return, which is significantly lower than AMDWX's 28.05% return.

MNZL

• 1D: 0.03%
• 1M: 11.20%
• YTD: 19.44%
• 6M: 17.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMDWX

• 1D: 1.38%
• 1M: 8.82%
• YTD: 28.05%
• 6M: 31.13%
• 1Y: 55.13%
• 3Y*: 20.38%
• 5Y*: 9.14%
• 10Y*: 8.56%

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

MNZL vs. AMDWX - Yearly Performance Comparison

	2026 (YTD)	2025
MNZL Manzil Russell Halal USA Broad Market ETF	19.44%	2.90%
AMDWX Amana Mutual Funds Trust Developing World Fund	28.05%	5.60%

Correlation

The correlation between MNZL and AMDWX 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 (All Time) Calculated using the full available price history since Nov 20, 2025	0.77

Return for Risk

MNZL vs. AMDWX — Risk / Return Rank

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

AMDWX

AMDWX Risk / Return Rank: 91
AMDWX Sharpe Ratio Rank: 94
AMDWX Sortino Ratio Rank: 88
AMDWX Omega Ratio Rank: 88
AMDWX Calmar Ratio Rank: 92
AMDWX Martin Ratio Rank: 90

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.

MNZL vs. AMDWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manzil Russell Halal USA Broad Market ETF (MNZL) and Amana Mutual Funds Trust Developing World Fund (AMDWX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MNZL	AMDWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.31	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.06	0.38	+2.68

Drawdowns

MNZL vs. AMDWX - Drawdown Comparison

The maximum MNZL drawdown since its inception was -9.66%, smaller than the maximum AMDWX drawdown of -28.88%. Use the drawdown chart below to compare losses from any high point for MNZL and AMDWX.

Drawdown Indicators

	MNZL	AMDWX	Difference
Max Drawdown Largest peak-to-trough decline	-9.66%	-28.88%	+19.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.36%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.42%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.75%	-9.00%	+7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.04%	—

Volatility

Volatility by Period

	MNZL	AMDWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.71%	16.95%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.71%	14.03%	+1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.71%	14.09%	+1.62%

MNZL vs. AMDWX - Expense Ratio Comparison

MNZL has a 0.40% expense ratio, which is lower than AMDWX's 1.14% expense ratio.

Dividends

MNZL vs. AMDWX - Dividend Comparison

MNZL's dividend yield for the trailing twelve months is around 0.03%, less than AMDWX's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMDWX Amana Mutual Funds Trust Developing World Fund	2.19%	2.80%	0.58%	0.91%	1.03%	1.16%	0.00%	0.37%	0.50%	0.18%	0.28%	0.58%
MNZL Manzil Russell Halal USA Broad Market ETF	0.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MNZL and AMDWX in my portfolio?

MNZL and AMDWX 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.