UMMA vs. AMAL

Last updated Jun 5, 2026

UMMA (Wahed Dow Jones Islamic World ETF) is Foreign Large Cap Equities fund tracking the Dow Jones Islamic Market International Titans 100 Index, while AMAL (Amalgamated Financial Corp.) is a stock. Over the past 3 years, UMMA returned 22.81%/yr vs 42.61%/yr for AMAL. At a 0.29 correlation, their price movements are largely independent.

Performance

UMMA vs. AMAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wahed Dow Jones Islamic World ETF (UMMA) and Amalgamated Financial Corp. (AMAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with UMMA having a 32.32% return and AMAL slightly higher at 33.40%.

UMMA

• 1D: -0.13%
• 1M: 12.11%
• YTD: 32.32%
• 6M: 35.20%
• 1Y: 51.77%
• 3Y*: 22.81%
• 5Y*: —
• 10Y*: —

AMAL

• 1D: 4.00%
• 1M: 2.47%
• YTD: 33.40%
• 6M: 38.64%
• 1Y: 45.26%
• 3Y*: 42.61%
• 5Y*: 23.96%
• 10Y*: —

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

UMMA vs. AMAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UMMA Wahed Dow Jones Islamic World ETF	32.32%	26.65%	4.67%	18.84%	-21.62%
AMAL Amalgamated Financial Corp.	33.40%	-2.50%	26.32%	19.44%	34.10%

Correlation

The correlation between UMMA and AMAL is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 10, 2022	0.29

Return for Risk

UMMA vs. AMAL — Risk / Return Rank

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

UMMA

UMMA Risk / Return Rank: 76
UMMA Sharpe Ratio Rank: 81
UMMA Sortino Ratio Rank: 78
UMMA Omega Ratio Rank: 76
UMMA Calmar Ratio Rank: 71
UMMA Martin Ratio Rank: 73

AMAL

AMAL Risk / Return Rank: 76
AMAL Sharpe Ratio Rank: 81
AMAL Sortino Ratio Rank: 77
AMAL Omega Ratio Rank: 75
AMAL Calmar Ratio Rank: 73
AMAL Martin Ratio Rank: 73

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.

UMMA vs. AMAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wahed Dow Jones Islamic World ETF (UMMA) and Amalgamated Financial Corp. (AMAL). 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.

	UMMA	AMAL	Difference
Sharpe ratio: Return per unit of total volatility	2.59	1.47	+1.12
Sortino ratio: Return per unit of downside risk	3.44	2.08	+1.36
Omega ratio: Gain probability vs. loss probability	1.45	1.26	+0.19
Calmar ratio: Return relative to maximum drawdown	3.48	1.86	+1.62
Martin ratio: Return relative to average drawdown	13.60	4.37	+9.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMMA vs. AMAL - Sharpe Ratio Comparison

The current UMMA Sharpe Ratio is 2.59, which is higher than the AMAL Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of UMMA and AMAL, 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

	UMMA	AMAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	1.47	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.37	+0.20

Drawdowns

UMMA vs. AMAL - Drawdown Comparison

The maximum UMMA drawdown since its inception was -34.17%, smaller than the maximum AMAL drawdown of -62.93%. Use the drawdown chart below to compare losses from any high point for UMMA and AMAL.

Drawdown Indicators

	UMMA	AMAL	Difference
Max Drawdown Largest peak-to-trough decline	-34.17%	-62.93%	+28.76%
Max Drawdown (1Y) Largest decline over 1 year	-14.93%	-24.41%	+9.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.73%	-32.85%	+14.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.88%	—
Current Drawdown Current decline from peak	-0.90%	-2.41%	+1.51%
Average Drawdown Average peak-to-trough decline	-9.81%	-19.97%	+10.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	10.38%	-6.56%

Volatility

UMMA vs. AMAL - Volatility Comparison

The current volatility for Wahed Dow Jones Islamic World ETF (UMMA) is 7.54%, while Amalgamated Financial Corp. (AMAL) has a volatility of 8.52%. This indicates that UMMA experiences smaller price fluctuations and is considered to be less risky than AMAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMMA	AMAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	8.52%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	17.26%	21.25%	-3.99%
Volatility (1Y) Calculated over the trailing 1-year period	20.11%	30.92%	-10.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	33.86%	-13.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	40.02%	-19.47%

Dividends

UMMA vs. AMAL - Dividend Comparison

UMMA's dividend yield for the trailing twelve months is around 0.93%, less than AMAL's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AMAL Amalgamated Financial Corp.	1.46%	1.75%	1.37%	1.48%	1.56%	1.91%	2.33%	1.34%	0.31%
UMMA Wahed Dow Jones Islamic World ETF	0.93%	1.02%	0.91%	1.09%	1.77%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UMMA and AMAL in my portfolio?

UMMA and AMAL have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UMMA or AMAL?

AMAL has higher volatility (8.52%) compared to UMMA (7.54%). In terms of maximum drawdown, UMMA dropped -34.17% vs AMAL's -62.93%.

Which has better risk-adjusted returns?

UMMA currently has the higher Sharpe Ratio (2.59 vs 1.47), 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.