Yes. SPSK is a halal ETF, and it is halal by structure rather than by screening alone. It holds sukuk, which are Islamic financial certificates representing ownership in tangible assets or income-generating projects. Because returns come from the performance of those underlying assets rather than from lending money at interest, sukuk avoid riba at the instrument level. That makes SPSK the Shariah compliant alternative to a conventional bond fund, which would not be permissible for Muslim investors. It is available to trade on Tabadulat.

Is SPSK Shariah compliant, and who certifies it?

SPSK is structured to be Shariah compliant under AAOIFI principles. Sukuk are inherently compliant instruments because they are asset-backed rather than interest-bearing, but the fund still applies screening to ensure each holding is properly structured and issued in accordance with Islamic finance requirements. Compliance is embedded in the index methodology: the fund passively tracks a Shariah compliant benchmark rather than making discretionary decisions, so eligibility is determined by published rules. Sukuk issuers themselves typically obtain approval from their own Shariah supervisory boards before issuance, which adds a further layer of scrutiny beyond the index screening.

What does SPSK invest in?

SPSK invests in a diversified basket of global sukuk, primarily investment-grade and denominated in US dollars. Unlike a bond fund, it does not hold debt instruments paying interest. Each sukuk represents participation in income-generating assets, with returns derived from those assets rather than from lending. Issuers span sovereign governments, quasi-sovereign entities and corporates across the global sukuk market, particularly the Gulf and Southeast Asia. The fund holds no equities, commodities or conventional bonds. Its aim is to deliver diversified, interest-free income exposure with reduced duration and interest-rate sensitivity compared with traditional fixed income products.

What index does SPSK track?

SPSK tracks the Dow Jones Sukuk Total Return Index (DJSUKTXR). The index measures the performance of global investment-grade sukuk issued in accordance with Islamic finance principles, covering US dollar denominated instruments from issuers worldwide. As a total return index it accounts for both price movements and income distributions, giving a complete picture of investor returns. It functions as the reference benchmark for the Shariah compliant fixed income market in the way that mainstream bond indices do for conventional debt. SPSK replicates the index by holding a similar basket of sukuk in corresponding proportions rather than selecting instruments actively.

Does SPSK require dividend purification?

Generally no, and this is a meaningful difference from equity ETFs. Because sukuk are structured to avoid interest entirely, income from SPSK is compliant at source, so there is normally no impure portion to cleanse. Purification exists as a safeguard rather than a routine requirement: if any incidental non-permissible income arises, for example through ancillary or administrative sources, Shariah methodology requires that portion to be identified and donated to charity. For most investors this means SPSK requires no ongoing purification calculation, unlike equity funds where a purification ratio must be applied to dividends each period.

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SP Funds Dow Jones Global Sukuk ETF (SPSK)

SPSK

Shariah-Compliant

SPSK

About SP Funds Dow Jones Global Sukuk ETF (SPSK)

The SP Funds Dow Jones Global Sukuk ETF (SPSK) is a Shariah compliant exchange-traded fund providing diversified exposure to global sukuk, the Islamic alternative to conventional bonds. It tracks the Dow Jones Sukuk Total Return Index, a broad benchmark of investment-grade, US dollar denominated sukuk issued worldwide. Sukuk are asset-backed certificates representing ownership in tangible assets or income-generating projects, so returns come from asset performance rather than interest, avoiding riba entirely under AAOIFI guidelines. The fund is structured as an income-oriented alternative to conventional fixed income, and it aims to carry lower duration and interest-rate sensitivity than traditional bond funds.

Website:

https://www.sp-funds.com/spsk/

Frequently asked questions

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Sign up in minutes, verify your identity, and fund your account by secure transfer in the currency you hold. There is no minimum portfolio size and no separate subscription for Shariah screening, so you can start investing in halal stocks and ETFs the same day.

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Open SPSK in the app to see the global sukuk it holds, its income profile and how its volatility compares with equity funds. You can view it side by side with other halal ETFs listed on the platform.

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Buy SPSK in whole or fractional amounts with real-time pricing, then follow your income and holdings in one portfolio view. Tabadulat monitors Shariah compliance continuously and alerts you if anything changes, and you can withdraw at any time.

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