Correlation
The correlation between ^IMXL and UMMA is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
^IMXL vs. UMMA
Compare and contrast key facts about Dow Jones Islamic Market Titans 100 Index (^IMXL) and Wahed Dow Jones Islamic World ETF (UMMA).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^IMXL or UMMA.
Performance
^IMXL vs. UMMA - Performance Comparison
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Key characteristics
^IMXL:
0.38
UMMA:
0.23
^IMXL:
0.66
UMMA:
0.45
^IMXL:
1.09
UMMA:
1.06
^IMXL:
0.36
UMMA:
0.23
^IMXL:
1.25
UMMA:
0.77
^IMXL:
5.91%
UMMA:
5.67%
^IMXL:
19.58%
UMMA:
20.92%
^IMXL:
-48.36%
UMMA:
-34.17%
^IMXL:
-6.77%
UMMA:
-1.78%
Returns By Period
In the year-to-date period, ^IMXL achieves a -2.98% return, which is significantly lower than UMMA's 8.26% return.
^IMXL
-2.98%
6.88%
-1.53%
6.78%
15.60%
14.39%
11.35%
UMMA
8.26%
6.64%
6.08%
4.29%
9.93%
N/A
N/A
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Risk-Adjusted Performance
^IMXL vs. UMMA — Risk-Adjusted Performance Rank
^IMXL
UMMA
^IMXL vs. UMMA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Dow Jones Islamic Market Titans 100 Index (^IMXL) 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.
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Drawdowns
^IMXL vs. UMMA - Drawdown Comparison
The maximum ^IMXL drawdown since its inception was -48.36%, which is greater than UMMA's maximum drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for ^IMXL and UMMA.
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Volatility
^IMXL vs. UMMA - Volatility Comparison
Dow Jones Islamic Market Titans 100 Index (^IMXL) and Wahed Dow Jones Islamic World ETF (UMMA) have volatilities of 4.48% and 4.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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