SPUSX vs. HLAL

Last updated Jun 4, 2026

SPUSX (Symmetry Panoramic US Equity Fund) and HLAL (Wahed FTSE USA Shariah ETF) are both funds - SPUSX is a Large Cap Blend Equities fund managed by Symmetry Partners, while HLAL is a Large Cap Growth Equities fund tracking the FTSE Shariah USA Index. Over the past 5 years, SPUSX returned 11.46%/yr vs 15.86%/yr for HLAL. Their correlation of 0.86 suggests significant overlap in exposure. SPUSX charges 0.64%/yr vs 0.50%/yr for HLAL.

Performance

SPUSX vs. HLAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Symmetry Panoramic US Equity Fund (SPUSX) and Wahed FTSE USA Shariah ETF (HLAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUSX achieves a 12.43% return, which is significantly lower than HLAL's 18.72% return.

SPUSX

• 1D: 0.59%
• 1M: 4.18%
• YTD: 12.43%
• 6M: 12.28%
• 1Y: 25.64%
• 3Y*: 20.01%
• 5Y*: 11.46%
• 10Y*: —

HLAL

• 1D: -0.07%
• 1M: 9.45%
• YTD: 18.72%
• 6M: 17.75%
• 1Y: 43.63%
• 3Y*: 22.04%
• 5Y*: 15.86%
• 10Y*: —

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

SPUSX vs. HLAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPUSX Symmetry Panoramic US Equity Fund	12.43%	13.14%	17.83%	19.93%	-13.24%	28.30%	8.97%	6.52%
HLAL Wahed FTSE USA Shariah ETF	18.72%	18.30%	16.70%	30.13%	-17.56%	28.64%	24.65%	10.96%

Correlation

The correlation between SPUSX and HLAL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.86

The correlation between SPUSX and HLAL has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

SPUSX vs. HLAL — Risk / Return Rank

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

SPUSX

SPUSX Risk / Return Rank: 63
SPUSX Sharpe Ratio Rank: 58
SPUSX Sortino Ratio Rank: 56
SPUSX Omega Ratio Rank: 54
SPUSX Calmar Ratio Rank: 71
SPUSX Martin Ratio Rank: 75

HLAL

HLAL Risk / Return Rank: 88
HLAL Sharpe Ratio Rank: 91
HLAL Sortino Ratio Rank: 92
HLAL Omega Ratio Rank: 90
HLAL Calmar Ratio Rank: 81
HLAL Martin Ratio Rank: 88

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.

SPUSX vs. HLAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Symmetry Panoramic US Equity Fund (SPUSX) 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.

	SPUSX	HLAL	Difference
Sharpe ratio: Return per unit of total volatility	2.24	3.33	-1.09
Sortino ratio: Return per unit of downside risk	3.15	4.62	-1.47
Omega ratio: Gain probability vs. loss probability	1.40	1.59	-0.19
Calmar ratio: Return relative to maximum drawdown	3.28	4.30	-1.02
Martin ratio: Return relative to average drawdown	14.25	19.85	-5.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPUSX vs. HLAL - Sharpe Ratio Comparison

The current SPUSX Sharpe Ratio is 2.24, which is lower than the HLAL Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of SPUSX and HLAL, 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

	SPUSX	HLAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	3.33	-1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.91	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.89	-0.21

Drawdowns

SPUSX vs. HLAL - Drawdown Comparison

The maximum SPUSX drawdown since its inception was -36.46%, which is greater than HLAL's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for SPUSX and HLAL.

Drawdown Indicators

	SPUSX	HLAL	Difference
Max Drawdown Largest peak-to-trough decline	-36.46%	-33.57%	-2.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-10.20%	+2.06%
Max Drawdown (3Y) Largest decline over 3 years	-20.15%	-21.67%	+1.52%
Max Drawdown (5Y) Largest decline over 5 years	-21.72%	-23.18%	+1.46%
Current Drawdown Current decline from peak	0.00%	-0.07%	+0.07%
Average Drawdown Average peak-to-trough decline	-5.25%	-5.00%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	2.20%	-0.33%

Volatility

SPUSX vs. HLAL - Volatility Comparison

The current volatility for Symmetry Panoramic US Equity Fund (SPUSX) is 3.11%, while Wahed FTSE USA Shariah ETF (HLAL) has a volatility of 3.70%. This indicates that SPUSX experiences smaller price fluctuations and is considered to be less risky than HLAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUSX	HLAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	3.70%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	9.95%	-0.99%
Volatility (1Y) Calculated over the trailing 1-year period	11.94%	13.17%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	17.60%	-0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.11%	20.21%	-1.10%

SPUSX vs. HLAL - Expense Ratio Comparison

SPUSX has a 0.64% expense ratio, which is higher than HLAL's 0.50% expense ratio.

Dividends

SPUSX vs. HLAL - Dividend Comparison

SPUSX's dividend yield for the trailing twelve months is around 5.59%, more than HLAL's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HLAL Wahed FTSE USA Shariah ETF	0.44%	0.53%	0.58%	0.72%	1.15%	0.78%	0.97%	0.72%	0.00%
SPUSX Symmetry Panoramic US Equity Fund	5.59%	6.29%	15.88%	4.05%	3.88%	6.99%	1.11%	1.99%	0.44%

Frequently Asked Questions

Can I hold both SPUSX and HLAL in my portfolio?

SPUSX and HLAL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPUSX or HLAL?

HLAL has higher volatility (3.70%) compared to SPUSX (3.11%). In terms of maximum drawdown, SPUSX dropped -36.46% vs HLAL's -33.57%.

Which has better risk-adjusted returns?

HLAL currently has the higher Sharpe Ratio (3.33 vs 2.24), 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.