UMMA — Wahed Dow Jones Islamic World ETF Review
UMMA offers global diversification in a single Shariah-compliant ticker. The simplest way to build a halal equity portfolio.
Quick Answer
- 1UMMA tracks the Dow Jones Islamic Market International Titans 100 Index — the 100 largest Shariah-compliant companies worldwide.
- 2At 0.50% expense ratio, UMMA matches HLAL on fees and provides the most straightforward path to global halal equity exposure in one US-listed fund.
- 3UMMA is ideal for investors who want simplicity — one ticker for global diversification — without managing multiple ETF allocations.
01Fund Overview
UMMA (Wahed Dow Jones Islamic World ETF) is managed by Wahed Invest and tracks the Dow Jones Islamic Market International Titans 100 Index. This index selects the 100 largest Shariah-compliant companies globally, creating a concentrated but geographically diversified portfolio.
Unlike SPUS and HLAL (US-focused) or ISWD (developed markets, UCITS), UMMA is a US-listed fund with global reach. It provides exposure to US, European, Asian, and other international equities in a single purchase — making it the simplest building block for a halal global equity allocation.
UMMA is certified Shariah-compliant by Wahed's Internal Shariah Board as of March 2026. Screening status is subject to periodic review.
02The Simplicity Case
For investors who find multi-ETF portfolio construction complex, UMMA offers genuine simplification. Instead of allocating across SPUS (US) + ISWD (global developed) + IGDA (EM), a single UMMA position provides all-in-one global equity exposure.
The trade-off is concentration: 100 stocks is a narrow portfolio compared to SPUS's ~230 or ISWD's hundreds. The Dow Jones methodology selects by size, so holdings are mega-caps — Apple, Microsoft, NVIDIA, Samsung, TSMC, Nestlé — with minimal small- or mid-cap exposure.
For beginning halal investors or those with smaller portfolios where splitting allocations across multiple ETFs is impractical, UMMA provides a reasonable single-fund starting point.
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Compliance classification: [ANALYSIS]
This content is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Shariah compliance assessments are based on publicly available data and established screening methodologies. They are not religious rulings (fatwas). Investors should consult a qualified Shariah scholar and a licensed financial advisor before making investment decisions.
All data is sourced from public filings and third-party providers. Compliance status is subject to change at quarterly reviews. Past performance is not indicative of future results. Halal Terminal is not a broker-dealer or investment advisor.