SPTE — SP Funds S&P Global Technology ETF Review

SPTE (SP Funds S&P Global Technology ETF) is a sector-specific ETF that applies Shariah screening to global technology companies. Unlike broad-market halal ETFs like SPUS, which naturally overweight tech after excluding financials, SPTE deliberately targets the technology sector.

Launched in November 2023, SPTE has grown to approximately $224M in assets as of mid-2026. The fund tracks the S&P Global 1200 Shariah Information Technology Capped Index: Shariah-compliant large-cap tech companies from the US, Europe, and Asia-Pacific, with a cap applied to limit single-stock concentration. The portfolio sits at ~99% technology weighting.

SPTE is certified Shariah-compliant by Ratings Intelligence Partners. As a sector fund, it carries higher concentration risk than broad-market ETFs but provides precision for investors who want explicit technology sector allocation.

SPTE applies the same AAOIFI-inspired screening methodology as other SP Funds products. Business activity screens exclude companies with revenue from prohibited sources. Financial ratio screens remove companies with excessive debt or interest-bearing assets relative to market capitalization.

Because the starting universe is already technology companies, the screening process removes fewer companies than in a broad-market ETF. Most tech companies naturally pass the business activity screen — the financial ratio screens are the primary filter, removing companies with high leverage.

The result is a concentrated portfolio of Shariah-compliant technology companies from developed markets globally. Top holdings typically include the same mega-cap tech names found in SPUS, but without the non-tech companies that provide diversification in the broader fund.

A key consideration for SPTE investors is overlap with existing holdings. SPUS already has 40–50% technology weighting after Shariah screening excludes financials. Adding SPTE on top creates significant double-counting of the same companies.

SPTE is most useful for investors who: (1) do not already hold SPUS or another broad halal ETF, (2) want to construct a sector-based portfolio with explicit allocations, or (3) want to overweight technology beyond what SPUS provides.

For most investors, SPUS alone provides sufficient technology exposure. SPTE is a precision tool for portfolio construction, not a replacement for broad-market ETFs. The 0.55% expense ratio is also slightly higher than SPUS's 0.45%.