SP Funds Dow Jones Global Sukuk ETF
SPSK
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- SP Funds Dow Jones Global Sukuk ETF (SPSK) is an exchange-traded fund that seeks to track the performance of the Dow Jones Global Sukuk Index, providing investors with exposure to a diversified portfolio of global Sharia-compliant fixed income securities. The ETF primarily invests in sukuk, which are Islamic bonds structured to comply with Sharia principles by avoiding interest payments and instead offering profit-sharing or lease-based returns; holdings include investment-grade sovereign, quasi-sovereign, and corporate sukuk issued in U.S. dollars, euros, and other major currencies from issuers across emerging and developed markets such as Malaysia, Saudi Arabia, United Arab Emirates, Qatar, Indonesia, and Turkey. It offers daily liquidity on major U.S. exchanges, low expense ratios typical of passive ETFs, and tax-efficient structures for income-focused investors seeking halal investment options in the fixed income segment. Launched in 2020 by SP Funds, a provider of Sharia-compliant investment products headquartered in Omaha, Nebraska, SPSK operates globally with a focus on the Islamic finance industry, targeting Muslim investors, faith-based institutions, and ESG-conscious portfolios emphasizing ethical screening that excludes sectors like alcohol, tobacco, pork, gambling, conventional finance, and arms. The fund excludes issuers involved in non-compliant activities and maintains a minimum credit quality aligned with the index methodology. SP Funds, founded in 2019, manages the ETF as part of its suite of halal ETFs covering equities, blockchain, and sustainable themes. Recent developments include the expansion of SP Funds' product lineup with new Sharia-compliant ETFs in 2024, enhancing its position in the growing $4 trillion Islamic finance market; a strategic partnership with leading index providers to refine benchmark methodologies for greater transparency and compliance; and increased assets under management surpassing $500 million across its ETF family amid rising demand for ethical fixed income amid global inflation pressures. In 2025, SPSK benefited from inflows driven by central bank rate cuts and geopolitical stability in key sukuk-issuing regions, with no major reorganizations or name changes reported. The ETF continues to emphasize liquidity enhancements and broader geographic diversification into African and Latin American Sharia-compliant debt markets.