SPSK vs. UMMA
Compare and contrast key facts about SP Funds Dow Jones Global Sukuk ETF (SPSK) and Wahed Dow Jones Islamic World ETF (UMMA).
SPSK and UMMA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPSK is a passively managed fund by SP Funds that tracks the performance of the Dow Jones Sukuk Total Return (No Coupon Reinvestment). It was launched on Dec 30, 2019. UMMA is a passively managed fund by Wahed that tracks the performance of the Dow Jones Islamic Market International Titans 100 Index. It was launched on Jan 6, 2022. Both SPSK and UMMA 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
SPSK vs. UMMA - Performance Comparison
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SPSK vs. UMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPSK SP Funds Dow Jones Global Sukuk ETF | -1.10% | 6.16% | 2.95% | 3.95% | -7.06% |
UMMA Wahed Dow Jones Islamic World ETF | 5.89% | 26.65% | 4.67% | 18.84% | -21.62% |
Returns By Period
In the year-to-date period, SPSK achieves a -1.10% return, which is significantly lower than UMMA's 5.89% return.
SPSK
- 1D
- 0.00%
- 1M
- -1.63%
- YTD
- -1.10%
- 6M
- -0.62%
- 1Y
- 3.16%
- 3Y*
- 3.54%
- 5Y*
- 0.77%
- 10Y*
- —
UMMA
- 1D
- 1.88%
- 1M
- -7.52%
- YTD
- 5.89%
- 6M
- 11.47%
- 1Y
- 32.44%
- 3Y*
- 14.56%
- 5Y*
- —
- 10Y*
- —
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SPSK vs. UMMA - Expense Ratio Comparison
SPSK has a 0.50% expense ratio, which is lower than UMMA's 0.65% expense ratio.
Return for Risk
SPSK vs. UMMA — Risk / Return Rank
SPSK
UMMA
SPSK vs. UMMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SP Funds Dow Jones Global Sukuk ETF (SPSK) and Wahed Dow Jones Islamic World ETF (UMMA). 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.
| SPSK | UMMA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 1.55 | -0.80 |
Sortino ratioReturn per unit of downside risk | 1.09 | 2.12 | -1.03 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.19 | -1.03 |
Martin ratioReturn relative to average drawdown | 4.65 | 8.69 | -4.04 |
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
| SPSK | UMMA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 1.55 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.33 | -0.15 |
Correlation
The correlation between SPSK and UMMA is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SPSK vs. UMMA - Dividend Comparison
SPSK's dividend yield for the trailing twelve months is around 4.04%, more than UMMA's 1.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPSK SP Funds Dow Jones Global Sukuk ETF | 4.04% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% |
UMMA Wahed Dow Jones Islamic World ETF | 1.16% | 1.02% | 0.91% | 1.09% | 1.77% | 0.00% | 0.00% |
Drawdowns
SPSK vs. UMMA - Drawdown Comparison
The maximum SPSK drawdown since its inception was -12.83%, smaller than the maximum UMMA drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for SPSK and UMMA.
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Drawdown Indicators
| SPSK | UMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.83% | -34.17% | +21.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -14.93% | +12.08% |
Max Drawdown (5Y)Largest decline over 5 years | -12.45% | — | — |
Current DrawdownCurrent decline from peak | -2.14% | -9.99% | +7.85% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -10.12% | +6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 3.77% | -3.05% |
Volatility
SPSK vs. UMMA - Volatility Comparison
The current volatility for SP Funds Dow Jones Global Sukuk ETF (SPSK) is 1.42%, while Wahed Dow Jones Islamic World ETF (UMMA) has a volatility of 9.33%. This indicates that SPSK experiences smaller price fluctuations and is considered to be less risky than UMMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPSK | UMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 9.33% | -7.91% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 15.21% | -12.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 20.99% | -16.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 20.24% | -14.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.51% | 20.24% | -14.73% |