SPWO
SP Funds S&P World (ex-US) ETF
SPWO tracks an index of 500 Sharia-compliant companies from developed and emerging markets outside the US. Holdings are modified market cap-weighted.
Global
EQUITY
Passive
MANAGEMENT STYLE
55.7 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
| Fund sponsor | SP Funds |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 19, 2023 |
| Assets (mns) | $56 |
| Expense ratio | 55 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR-SP ADR | 15.8 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 4.2 % |
| XIAOMI CORP. CLASS B | 2.2 % |
| ASML HOLDING NV | 2.1 % |
| SAP AG-SPONSORED ADR | 2.0 % |
| NESTLE SA-SPONS ADR | 1.7 % |
| MEITUAN | 1.7 % |
| NOVARTIS AG-ADR | 1.5 % |
| ROCHE HOLDINGS LTD-SPONS ADR | 1.5 % |
| NOVO-NORDISK A/S-SPONS ADR | 1.5 % |
Constituent Breakdown
| Number of holdings | 285 |
| Herfindahl-Hirschman Index | 323 |
| Wgt avg mkt cap (mns) | $0 |
| Large cap (>$10bn) | 78.1% |
| Mid cap ($2-10bn) | 6.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 39.7% |
| Emerging mkts. | 46.3% |
Country Exposure
 |
TAIWAN | 21.7 % |
 |
CHINA | 12.9 % |
 |
SWITZERLAND | 7.3 % |
 |
JAPAN | 5.3 % |
 |
BRITAIN | 5.2 % |
 |
CANADA | 5.0 % |
 |
FRANCE | 3.9 % |
 |
SAUDI ARABIA | 3.8 % |
 |
GERMANY | 2.7 % |
 |
NETHERLANDS | 2.6 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.9% | 5.5% | -- | -- | -- | -- | -- | 12.0% |
| Dividend Yield | 0.6% | 1.5% | -- | -- | -- | -- | -- | 1.4% |
| Total Returns | 6.5% | 7.0% | -- | -- | -- | -- | -- | 13.4% | Ann. Volatility | 24.0% | 20.4% | -- | -- | -- | -- | -- | 18.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.60 | 53% |
| MSCI EAFE | 0.42 | 27% |
| MSCI Emg Mkts | 0.46 | 16% |
Liquidity Measures
| Avg. volume (000) | 7 |
| ADV traded (mns) | $0 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.76% |
Technical Indicators
| Recent close | $24.47 |
| 30d moving avg. | $23.51 |
| Annualized volatility | 10.3% |
| Relative strength (RSI) | 53 |
| Short interest | 0.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| APIE | ActivePassive International Equity ETF | 28.9% | -10 bp | +7.5% |
| UMMA | Wahed Dow Jones Islamic World ETF | 26.1% | +10 bp | +5.1% |
| SPTE | SP Funds S&P Global Technology ETF | 20.7% | 0 bp | +3.9% |
| GMF | SPDR S&P Emerging Asia Pacific ETF | 19.2% | -6 bp | +9.6% |
| EMM | Global X Emerging Markets ex-China ETF | 16.9% | +20 bp | +6.0% |
| AVEM | Avantis Emerging Markets Equity ETF | 16.5% | -22 bp | +9.3% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 16.4% | -40 bp | +8.2% |
| AVSE | Avantis Responsible Emerging Markets Equity ETF | 15.6% | -22 bp | +8.6% |
| EMC | Global X Emerging Markets Great Consumer ETF | 15.5% | +20 bp | +8.8% |
| AVXC | Avantis Emerging Markets Ex-China Equity ETF | 14.3% | -22 bp | +8.7% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/28/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
SPWO
5.7%
Cat. Avg
4.5%
ALTAR Score™ Calculation
Category Overview
There are 373 funds in the Global Equity category, with an average ALTAR Score™
of 4.5% and a standard deviation of
3.4%. SPWO's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places SPWO in the 64th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPWOSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Global Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 50.8 bp |
| Std. Deviation | 22.4 bp |
| (55 bp) Percentile rank | 61 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPWO | 55.0 | 0.0 | 55 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .