SPTE tracks a global index comprised of large-cap information technology firms that pass specific criteria for adherence to Shariah laws. Companies involved in business practices against the principles of Shariah like gambling, tobacco, or alcohol-related business activities are screened out. Firms deploying leverage that contravenes Shariah regulations are also eliminated. The index is a float-adjusted market capitalization weighted, with a 10% single issuer capping and a 50% country capping. Furthermore, SPTE has the flexibility to invest up to 20% of its assets in Shariah-compliant securities not listed in the index based on the fund advisers recommendations. These are chosen to help the fund align with the index performance. SPTE seeks to provide a balanced exposure to the IT sector, aligning with Shariah guidelines and aiming to deliver consistent performance in line with the index.
SP Funds S&P Global Technology ETF · Issued by SP Funds
| TSM | Taiwan Semiconductor Manufacturing Co Ltd ADR | 11.54% |
| NVDA | NVIDIA Corp | 11.46% |
| AAPL | Apple Inc | 11.20% |
| MSFT | Microsoft Corp | 9.02% |
| ASML.AS | ASML Holding NV | 6.03% |
| 2454.TW | MediaTek Inc | 4.46% |
| AVGO | Broadcom Inc | 4.38% |
| MU | Micron Technology Inc | 2.70% |
| 2308.TW | Delta Electronics Inc | 2.51% |
| SAP | SAP SE ADR | 2.20% |
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