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SPSK vs. AMAPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPSK vs. AMAPX

Last updated Jun 23, 2026

SPSK (SP Funds Dow Jones Global Sukuk ETF) and AMAPX (Amana Participation Fund) are both funds - SPSK is a Global Bonds fund tracking the Dow Jones Sukuk Total Return (No Coupon Reinvestment), while AMAPX is a Emerging Markets Bonds fund managed by Amana. Over the past 5 years, SPSK returned 0.88%/yr vs 1.34%/yr for AMAPX. At a 0.37 correlation, their price movements are largely independent. SPSK charges 0.50%/yr vs 0.78%/yr for AMAPX.

Performance

SPSK vs. AMAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds Dow Jones Global Sukuk ETF (SPSK) and Amana Participation Fund (AMAPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPSK achieves a 0.03% return, which is significantly lower than AMAPX's 0.36% return.

SPSK

1D
-0.19%
1M
0.37%
YTD
0.03%
6M
0.01%
1Y
3.79%
3Y*
4.03%
5Y*
0.88%
10Y*
—

AMAPX

1D
0.10%
1M
1.56%
YTD
0.36%
6M
0.60%
1Y
4.03%
3Y*
3.94%
5Y*
1.34%
10Y*
2.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPSK vs. AMAPX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SPSK
SP Funds Dow Jones Global Sukuk ETF		0.03%6.16%2.95%3.95%-7.75%-1.30%3.67%0.25%
AMAPX
Amana Participation Fund		0.36%5.98%3.77%2.09%-5.27%0.49%5.35%0.21%

Correlation

The correlation between SPSK and AMAPX 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

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Dec 30, 2019

0.37

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SP Funds Dow Jones Global Sukuk ETF

Amana Participation Fund

Often compared with SPSK:
SPSK vs. SPUSSPSK vs. SPRESPSK vs. HLALSPSK vs. SPYSPSK vs. UMMASPSK vs. WISEXSPSK vs. GLD
Often compared with AMAPX:
AMAPX vs. WISEXAMAPX vs. AMAGXAMAPX vs. AMIGXAMAPX vs. HLALAMAPX vs. SPUSAMAPX vs. UMMAAMAPX vs. SPRE

Return for Risk

SPSK vs. AMAPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPSK
SPSK Risk / Return Rank: 2828
Overall Rank
SPSK Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
SPSK Sortino Ratio Rank: 2727
Sortino Ratio Rank
SPSK Omega Ratio Rank: 2525
Omega Ratio Rank
SPSK Calmar Ratio Rank: 2828
Calmar Ratio Rank
SPSK Martin Ratio Rank: 3131
Martin Ratio Rank
AMAPX
AMAPX Risk / Return Rank: 4747
Overall Rank
AMAPX Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
AMAPX Sortino Ratio Rank: 6262
Sortino Ratio Rank
AMAPX Omega Ratio Rank: 8686
Omega Ratio Rank
AMAPX Calmar Ratio Rank: 2222
Calmar Ratio Rank
AMAPX Martin Ratio Rank: 2222
Martin Ratio Rank
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.

SPSK vs. AMAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds Dow Jones Global Sukuk ETF (SPSK) and Amana Participation Fund (AMAPX). 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.

SPSKAMAPXDifference
Sharpe ratioReturn per unit of total volatility
0.99
1.83

-0.83

Sortino ratioReturn per unit of downside risk
1.46
2.99

-1.54

Omega ratioGain probability vs. loss probability

1.17

1.54

-0.37

Calmar ratioReturn relative to maximum drawdown

1.34

1.61

-0.28

Martin ratioReturn relative to average drawdown

4.36

5.13

-0.77

SPSK vs. AMAPX - Sharpe Ratio Comparison

The current SPSK Sharpe Ratio is 0.99, which is lower than the AMAPX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of SPSK and AMAPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SPSK vs. AMAPX - Drawdown Comparison

The maximum SPSK drawdown since its inception was -12.83%, which is greater than AMAPX's maximum drawdown of -7.75%. Use the drawdown chart below to compare losses from any high point for SPSK and AMAPX.

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Drawdown Indicators

SPSKAMAPXDifference

Max Drawdown

Largest peak-to-trough decline

-12.83%

-7.75%

-5.08%

Max Drawdown (1Y)

Largest decline over 1 year

-2.85%

-2.51%

-0.34%

Max Drawdown (3Y)

Largest decline over 3 years

-3.17%

-2.63%

-0.54%

Max Drawdown (5Y)

Largest decline over 5 years

-12.45%

-7.75%

-4.70%

Max Drawdown (10Y)

Largest decline over 10 years

—

-7.75%

—

Current Drawdown

Current decline from peak

-1.03%

-0.50%

-0.53%

Average Drawdown

Average peak-to-trough decline

-3.80%

-1.56%

-2.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.87%

0.79%

+0.08%

Volatility

SPSK vs. AMAPX - Volatility Comparison

The current volatility for SP Funds Dow Jones Global Sukuk ETF (SPSK) is 0.90%, while Amana Participation Fund (AMAPX) has a volatility of 1.20%. This indicates that SPSK experiences smaller price fluctuations and is considered to be less risky than AMAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPSKAMAPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.90%

1.20%

-0.30%

Volatility (6M)

Calculated over the trailing 6-month period

2.50%

2.01%

+0.49%

Volatility (1Y)

Calculated over the trailing 1-year period

3.84%

2.22%

+1.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.28%

2.19%

+3.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.45%

2.01%

+3.44%

SPSK vs. AMAPX - Expense Ratio Comparison

SPSK has a 0.50% expense ratio, which is lower than AMAPX's 0.78% expense ratio.

Dividends

SPSK vs. AMAPX - Dividend Comparison

SPSK's dividend yield for the trailing twelve months is around 4.24%, more than AMAPX's 3.66% yield.

PositionTTM2025202420232022202120202019201820172016
AMAPX
Amana Participation Fund		3.66%3.52%3.15%2.25%1.30%1.55%1.95%2.45%2.62%2.14%2.14%
SPSK
SP Funds Dow Jones Global Sukuk ETF		4.24%3.63%3.53%2.95%2.22%2.56%1.78%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SPSK and AMAPX 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.

AMAPX has higher volatility (1.20%) compared to SPSK (0.90%). In terms of maximum drawdown, SPSK dropped -12.83% vs AMAPX's -7.75%.

AMAPX currently has the higher Sharpe Ratio (1.83 vs 0.99), 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.

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