Yes. SPWO is a halal ETF covering international markets. Every company in the fund passes AAOIFI-based Shariah screening before inclusion, which removes businesses operating in non-permissible sectors and those carrying excessive interest-bearing leverage or income from non-compliant sources. Compliance is applied at the index level, so the fund holds only Shariah compliant stocks by construction rather than by discretionary judgement. The index covers 500 companies from 42 countries, giving broad geographic coverage outside the United States. SPWO is available to trade on Tabadulat.

Is SPWO Shariah compliant, and who certifies it?

SPWO is designed to be Shariah compliant following AAOIFI-based principles, with screening embedded in the index it tracks rather than applied by the fund manager. Companies are excluded if they operate in prohibited industries such as conventional financial services, alcohol, gambling or tobacco, and further financial screens remove those with excessive leverage or significant income from interest-bearing sources. Because eligibility is determined by index methodology, compliance is systematic and repeatable, maintained through scheduled rebalancing rather than one-off filtering. SP Funds applies this framework consistently across its Shariah ETF range, and holdings are reassessed as index rules are reapplied.

What does SPWO invest in?

SPWO invests in Shariah compliant equities from developed and emerging markets outside the United States. It deliberately excludes all US equities, making it a complement to a US-focused fund rather than a substitute. The portfolio is entirely equities, with no bonds or alternative assets, and is built through a rules-based index approach rather than active selection. As of the index reference date it comprised 500 constituent companies from 42 different countries, with an average market capitalisation around 14 billion US dollars, indicating a blend of large and mid-cap firms. This delivers wide international diversification while keeping every holding inside Shariah screening constraints.

What index does SPWO track?

SPWO tracks the S&P DM Ex-U.S. & EM 50/50 Shariah Index. The index measures the performance of Shariah compliant stocks drawn from two segments in a balanced structure: developed markets outside the United States, such as Europe and developed Asia-Pacific, and higher-growth emerging markets. Construction begins with a broad international equity universe, applies Shariah screening to remove non-compliant companies, then weights the remaining eligible securities according to index rules. The 50/50 structure means neither developed nor emerging markets dominate the allocation. SPWO seeks to replicate this index by holding the same or substantially similar securities in corresponding proportions.

Does SPWO require dividend purification?

Yes. Although every holding passes Shariah screening, companies can still earn small amounts of incidental non-permissible income, most often interest on cash balances, so purification applies. SP Funds calculates the non-compliant portion and publishes purification guidance for its Shariah ETF range, and that portion of income should be donated to charitable causes rather than kept. This process, called tazkiyah, is a standard part of AAOIFI methodology and applies even to fully compliant funds. It is a small adjustment relative to total returns, but it is what allows income from Shariah compliant stocks to be treated as fully purified.

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SP Funds S&P World ETF (SPWO)

SPWO

Shariah-Compliant

SPWO

About SP Funds S&P World ETF (SPWO)

The SP Funds S&P World ex-US ETF (SPWO) is a Shariah compliant exchange-traded fund tracking the S&P DM Ex-U.S. & EM 50/50 Shariah Index. It provides exposure to Shariah compliant companies across both developed markets outside the United States and emerging markets, with the index holding 500 constituents from 42 countries and an average market capitalisation of roughly 14 billion US dollars. Coverage includes Europe, Australia, the Far East and emerging economies. SPWO screens out non-compliant business activities and companies with excessive leverage or non-permissible income under AAOIFI guidelines. It is listed on NYSE and passively managed, and it covers international halal stocks outside the US market.

Website:

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

Frequently asked questions

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Step 1

Open your account.

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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Step 2

Compare Shariah compliant ETFs.

Open SPWO in the app to see its 500 holdings across 42 countries, the balance between developed and emerging markets, and how its coverage differs from US-focused funds. You can view it side by side with other halal ETFs listed on the platform.

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Step 3

Invest and track, 100% halal.

Buy SPWO in whole or fractional amounts with real-time pricing, then watch it in your portfolio next to everything else you hold. Tabadulat monitors Shariah compliance continuously and alerts you if anything changes, and you can withdraw at any time.

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