WSHR.NEO vs. UMMA
Compare and contrast key facts about Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) and Wahed Dow Jones Islamic World ETF (UMMA).
WSHR.NEO and UMMA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WSHR.NEO is a passively managed fund by Mackenzie that tracks the performance of the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index. It was launched on May 12, 2021. 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 WSHR.NEO 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
WSHR.NEO vs. UMMA - Performance Comparison
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WSHR.NEO vs. UMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WSHR.NEO Wealthsimple Shariah World Equity Index ETF | 1.81% | 5.34% | 12.31% | 11.88% | -8.15% |
UMMA Wahed Dow Jones Islamic World ETF | 7.23% | 20.84% | 13.66% | 16.23% | -16.05% |
Different Trading Currencies
WSHR.NEO is traded in CAD, while UMMA is traded in USD. To make them comparable, the UMMA values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, WSHR.NEO achieves a 1.81% return, which is significantly lower than UMMA's 7.23% return.
WSHR.NEO
- 1D
- 2.20%
- 1M
- -4.57%
- YTD
- 1.81%
- 6M
- 1.00%
- 1Y
- 3.19%
- 3Y*
- 8.19%
- 5Y*
- —
- 10Y*
- —
UMMA
- 1D
- 1.74%
- 1M
- -6.01%
- YTD
- 7.23%
- 6M
- 11.15%
- 1Y
- 28.67%
- 3Y*
- 15.63%
- 5Y*
- —
- 10Y*
- —
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WSHR.NEO vs. UMMA - Expense Ratio Comparison
WSHR.NEO has a 0.56% expense ratio, which is lower than UMMA's 0.65% expense ratio.
Return for Risk
WSHR.NEO vs. UMMA — Risk / Return Rank
WSHR.NEO
UMMA
WSHR.NEO vs. UMMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) 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.
| WSHR.NEO | UMMA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.23 | 1.43 | -1.21 |
Sortino ratioReturn per unit of downside risk | 0.40 | 1.96 | -1.56 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.27 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 0.30 | 2.11 | -1.81 |
Martin ratioReturn relative to average drawdown | 0.99 | 7.62 | -6.63 |
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
| WSHR.NEO | UMMA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.23 | 1.43 | -1.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.51 | +0.13 |
Correlation
The correlation between WSHR.NEO and UMMA is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
WSHR.NEO vs. UMMA - Dividend Comparison
WSHR.NEO's dividend yield for the trailing twelve months is around 1.37%, more than UMMA's 1.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WSHR.NEO Wealthsimple Shariah World Equity Index ETF | 1.37% | 1.34% | 1.31% | 1.34% | 2.58% | 0.44% |
UMMA Wahed Dow Jones Islamic World ETF | 1.16% | 1.02% | 0.91% | 1.09% | 1.77% | 0.00% |
Drawdowns
WSHR.NEO vs. UMMA - Drawdown Comparison
The maximum WSHR.NEO drawdown since its inception was -20.86%, smaller than the maximum UMMA drawdown of -27.33%. Use the drawdown chart below to compare losses from any high point for WSHR.NEO and UMMA.
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Drawdown Indicators
| WSHR.NEO | UMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.86% | -34.17% | +13.31% |
Max Drawdown (1Y)Largest decline over 1 year | -9.72% | -14.93% | +5.21% |
Current DrawdownCurrent decline from peak | -4.82% | -9.99% | +5.17% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -10.12% | +5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 3.77% | -0.81% |
Volatility
WSHR.NEO vs. UMMA - Volatility Comparison
The current volatility for Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) is 4.92%, while Wahed Dow Jones Islamic World ETF (UMMA) has a volatility of 9.15%. This indicates that WSHR.NEO 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
| WSHR.NEO | UMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 9.15% | -4.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.01% | 14.92% | -5.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.21% | 20.10% | -5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.18% | 17.59% | -6.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.18% | 17.59% | -6.41% |