UMMA vs. AMAPX

Last updated Apr 1, 2026

Compare and contrast key facts about Wahed Dow Jones Islamic World ETF (UMMA) and Amana Participation Fund (AMAPX).

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. AMAPX is managed by Amana. It was launched on Sep 27, 2015.

Performance

UMMA vs. AMAPX - Performance Comparison

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

UMMA vs. AMAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UMMA Wahed Dow Jones Islamic World ETF	3.94%	26.65%	4.67%	18.84%	-21.62%
AMAPX Amana Participation Fund	-1.66%	5.98%	3.77%	2.09%	-4.90%

Returns By Period

In the year-to-date period, UMMA achieves a 3.94% return, which is significantly higher than AMAPX's -1.66% return.

UMMA

• 1D: 3.86%
• 1M: -11.22%
• YTD: 3.94%
• 6M: 11.67%
• 1Y: 30.32%
• 3Y*: 13.86%
• 5Y*: —
• 10Y*: —

AMAPX

• 1D: 0.00%
• 1M: -2.51%
• YTD: -1.66%
• 6M: -0.66%
• 1Y: 2.49%
• 3Y*: 3.09%
• 5Y*: 1.12%
• 10Y*: 2.09%

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

UMMA vs. AMAPX - Expense Ratio Comparison

UMMA has a 0.65% expense ratio, which is lower than AMAPX's 0.78% expense ratio.

AMAPX

Amana Participation Fund

UMMA

Wahed Dow Jones Islamic World ETF

Return for Risk

UMMA vs. AMAPX — Risk / Return Rank

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

UMMA

UMMA Risk / Return Rank: 79
UMMA Sharpe Ratio Rank: 81
UMMA Sortino Ratio Rank: 81
UMMA Omega Ratio Rank: 77
UMMA Calmar Ratio Rank: 77
UMMA Martin Ratio Rank: 78

AMAPX

AMAPX Risk / Return Rank: 70
AMAPX Sharpe Ratio Rank: 77
AMAPX Sortino Ratio Rank: 82
AMAPX Omega Ratio Rank: 89
AMAPX Calmar Ratio Rank: 48
AMAPX Martin Ratio Rank: 53

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. AMAPX - Risk-Adjusted Trends Comparison

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

	UMMA	AMAPX	Difference
Sharpe ratio Return per unit of total volatility	1.46	1.36	+0.09
Sortino ratio Return per unit of downside risk	2.01	2.07	-0.06
Omega ratio Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio Return relative to maximum drawdown	1.95	1.17	+0.79
Martin ratio Return relative to average drawdown	7.84	5.20	+2.64
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. AMAPX - Sharpe Ratio Comparison

The current UMMA Sharpe Ratio is 1.46, which is comparable to the AMAPX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of UMMA and AMAPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UMMA	AMAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.36	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	1.06	-0.75

Correlation

The correlation between UMMA and AMAPX 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

UMMA vs. AMAPX - Dividend Comparison

UMMA's dividend yield for the trailing twelve months is around 1.18%, less than AMAPX's 3.41% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
UMMA Wahed Dow Jones Islamic World ETF	1.18%	1.02%	0.91%	1.09%	1.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
AMAPX Amana Participation Fund	3.41%	3.52%	3.15%	2.25%	1.30%	1.55%	1.95%	2.45%	2.62%	2.14%	2.14%

Drawdowns

UMMA vs. AMAPX - Drawdown Comparison

The maximum UMMA drawdown since its inception was -34.17%, which is greater than AMAPX's maximum drawdown of -7.75%. Use the drawdown chart below to compare losses from any high point for UMMA and AMAPX.

Drawdown Indicators

	UMMA	AMAPX	Difference
Max Drawdown Largest peak-to-trough decline	-34.17%	-7.75%	-26.42%
Max Drawdown (1Y) Largest decline over 1 year	-14.93%	-2.51%	-12.42%
Max Drawdown (5Y) Largest decline over 5 years	—	-7.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-7.75%	—
Current Drawdown Current decline from peak	-11.65%	-2.51%	-9.14%
Average Drawdown Average peak-to-trough decline	-10.12%	-1.57%	-8.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	0.56%	+3.16%

Volatility

UMMA vs. AMAPX - Volatility Comparison

Wahed Dow Jones Islamic World ETF (UMMA) has a higher volatility of 9.94% compared to Amana Participation Fund (AMAPX) at 0.70%. This indicates that UMMA's price experiences larger fluctuations and is considered to be riskier than AMAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMMA	AMAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.94%	0.70%	+9.24%
Volatility (6M) Calculated over the trailing 6-month period	15.14%	1.16%	+13.98%
Volatility (1Y) Calculated over the trailing 1-year period	20.94%	2.08%	+18.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.23%	2.06%	+18.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.23%	1.95%	+18.28%