SPRE vs. AMANX

Last updated Jun 3, 2026

SPRE (SP Funds S&P Global REIT Sharia ETF) and AMANX (Amana Mutual Funds Trust Income Fund) are both funds - SPRE is a REIT fund tracking the S&P Global All Equity REIT Shariah Capped Index, while AMANX is a Large Cap Blend Equities fund managed by Amana. Over the past 5 years, SPRE returned 1.62%/yr vs 10.98%/yr for AMANX. A 0.60 correlation means they provide meaningful diversification when combined. SPRE charges 0.69%/yr vs 1.01%/yr for AMANX.

Performance

SPRE vs. AMANX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds S&P Global REIT Sharia ETF (SPRE) and Amana Mutual Funds Trust Income Fund (AMANX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPRE achieves a 7.88% return, which is significantly lower than AMANX's 10.49% return.

SPRE

• 1D: 0.73%
• 1M: -1.70%
• YTD: 7.88%
• 6M: 8.62%
• 1Y: 10.66%
• 3Y*: 6.67%
• 5Y*: 1.62%
• 10Y*: —

AMANX

• 1D: 0.45%
• 1M: 4.68%
• YTD: 10.49%
• 6M: 10.17%
• 1Y: 23.28%
• 3Y*: 15.83%
• 5Y*: 10.98%
• 10Y*: 12.08%

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

SPRE vs. AMANX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPRE SP Funds S&P Global REIT Sharia ETF	7.88%	3.07%	2.11%	9.40%	-29.48%	44.78%	0.73%
AMANX Amana Mutual Funds Trust Income Fund	10.49%	16.41%	12.85%	13.60%	-8.86%	22.53%	0.68%

Correlation

The correlation between SPRE and AMANX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 31, 2020	0.60

The correlation between SPRE and AMANX shifts across timeframes, from 0.44 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SPRE vs. AMANX — Risk / Return Rank

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

SPRE

SPRE Risk / Return Rank: 24
SPRE Sharpe Ratio Rank: 23
SPRE Sortino Ratio Rank: 22
SPRE Omega Ratio Rank: 22
SPRE Calmar Ratio Rank: 24
SPRE Martin Ratio Rank: 27

AMANX

AMANX Risk / Return Rank: 40
AMANX Sharpe Ratio Rank: 43
AMANX Sortino Ratio Rank: 44
AMANX Omega Ratio Rank: 41
AMANX Calmar Ratio Rank: 31
AMANX Martin Ratio Rank: 38

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.

SPRE vs. AMANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P Global REIT Sharia ETF (SPRE) and Amana Mutual Funds Trust Income Fund (AMANX). 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.

	SPRE	AMANX	Difference
Sharpe ratio Return per unit of total volatility	0.81	1.92	-1.11
Sortino ratio Return per unit of downside risk	1.19	2.77	-1.59
Omega ratio Gain probability vs. loss probability	1.15	1.35	-0.20
Calmar ratio Return relative to maximum drawdown	1.15	2.15	-1.01
Martin ratio Return relative to average drawdown	3.91	8.50	-4.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPRE vs. AMANX - Sharpe Ratio Comparison

The current SPRE Sharpe Ratio is 0.81, which is lower than the AMANX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SPRE and AMANX, 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

	SPRE	AMANX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	1.92	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.79	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.62	-0.37

Drawdowns

SPRE vs. AMANX - Drawdown Comparison

The maximum SPRE drawdown since its inception was -38.34%, roughly equal to the maximum AMANX drawdown of -37.82%. Use the drawdown chart below to compare losses from any high point for SPRE and AMANX.

Drawdown Indicators

	SPRE	AMANX	Difference
Max Drawdown Largest peak-to-trough decline	-38.34%	-37.82%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-11.03%	+1.40%
Max Drawdown (3Y) Largest decline over 3 years	-22.04%	-15.42%	-6.62%
Max Drawdown (5Y) Largest decline over 5 years	-38.34%	-19.19%	-19.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.48%	—
Current Drawdown Current decline from peak	-12.42%	0.00%	-12.42%
Average Drawdown Average peak-to-trough decline	-17.93%	-6.00%	-11.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.80%	+0.03%

Volatility

SPRE vs. AMANX - Volatility Comparison

SP Funds S&P Global REIT Sharia ETF (SPRE) has a higher volatility of 3.87% compared to Amana Mutual Funds Trust Income Fund (AMANX) at 3.28%. This indicates that SPRE's price experiences larger fluctuations and is considered to be riskier than AMANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPRE	AMANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	3.28%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	9.88%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	12.37%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.74%	13.91%	+4.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	15.93%	+2.49%

SPRE vs. AMANX - Expense Ratio Comparison

SPRE has a 0.69% expense ratio, which is lower than AMANX's 1.01% expense ratio.

Dividends

SPRE vs. AMANX - Dividend Comparison

SPRE's dividend yield for the trailing twelve months is around 3.86%, less than AMANX's 4.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMANX Amana Mutual Funds Trust Income Fund	4.89%	5.39%	5.69%	5.24%	8.14%	4.66%	6.53%	7.81%	6.55%	5.75%	4.15%	6.88%
SPRE SP Funds S&P Global REIT Sharia ETF	3.86%	4.10%	4.13%	4.16%	4.17%	2.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPRE and AMANX in my portfolio?

SPRE and AMANX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPRE or AMANX?

SPRE has higher volatility (3.87%) compared to AMANX (3.28%). In terms of maximum drawdown, SPRE dropped -38.34% vs AMANX's -37.82%.

Which has better risk-adjusted returns?

AMANX currently has the higher Sharpe Ratio (1.92 vs 0.81), 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.