Yes. UMMA is a halal ETF providing international exposure, and its compliance is certified through a Fatwa issued by Shariah scholars. Every holding must pass Islamic screening, which excludes companies in non-permissible industries and those failing financial tests on leverage and non-compliant income. UMMA is also notable as the first US-listed Islamic ETF to incorporate ESG data into its investment process, so holdings pass an additional ethical filter beyond Shariah screening. Managed by Wahed, it gives Muslim investors access to Shariah compliant stocks across developed and emerging markets outside the US, and it is available to trade on Tabadulat.

Is UMMA Shariah compliant, and who certifies it?

UMMA is explicitly Shariah compliant, structured in accordance with Islamic principles and certified through a Fatwa issued by Shariah scholars confirming that its methodology aligns with Islamic law. Screening follows AAOIFI-aligned standards: companies are excluded for non-permissible business activities, and financial screens remove those with excessive leverage or significant non-compliant income. Compliance is embedded in the index methodology and overseen through Wahed's Islamic finance governance, so it is systematic rather than discretionary. Because the fund tracks its index loosely rather than exactly, Wahed retains some flexibility in implementation while remaining within the compliance framework.

What does UMMA invest in?

UMMA invests in Shariah compliant international equities from developed and emerging markets outside the United States. It is equity-only, holding publicly traded stocks rather than bonds or alternatives, and its holdings are large and mid-cap companies drawn from a global universe that passes Islamic screening. Exclusions cover non-permissible business activities and companies breaching financial thresholds for leverage and non-compliant income. Alongside Shariah screening, the fund incorporates ESG data into investment decisions, a distinguishing feature among Islamic ETFs. The result is a diversified portfolio spanning multiple international markets, deliberately excluding US companies.

What index does UMMA track?

UMMA loosely tracks the Dow Jones Islamic Market International Titans 100 Index, a globally recognised benchmark measuring the performance of large companies outside the United States that meet Shariah screening criteria. The index selects constituents from a global equity universe and applies Islamic finance screening rules, producing a diversified basket of international Shariah compliant equities focused on large multinationals across developed and emerging markets. Because UMMA tracks the index loosely rather than replicating it exactly, holdings may differ somewhat from the benchmark, which allows the ESG overlay to be applied alongside Shariah screening.

Does UMMA require dividend purification?

Yes. Although all holdings pass Shariah screening, companies can still generate small amounts of incidental non-permissible income, typically interest earned on cash. UMMA applies a defined dividend purification process, and Wahed publishes purification information every quarter so investors can calculate the portion of dividend income to donate to charity. Applying the published ratio to dividends received and giving that amount away, without claiming benefit or tax relief, completes the process. This is tazkiyah, a standard requirement of Shariah compliant equity investing, and the quarterly disclosure means investors do not need to estimate the figure themselves.

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Wahed Dow Jones Islamic World ETF (UMMA)

UMMA

Shariah-Compliant

UMMA

About Wahed Dow Jones Islamic World ETF (UMMA)

The Wahed Dow Jones Islamic World ETF (UMMA) is structured in accordance with Islamic principles and provides exposure to Shariah compliant international equities across developed and emerging markets outside the United States. Listed on NASDAQ, it is the first US exchange-listed Islamic ETF to formally incorporate ESG data into investment decisions, adding an ethical screen alongside Shariah compliance. The fund loosely tracks the Dow Jones Islamic Market International Titans 100 Index, a globally recognised benchmark of large non-US companies meeting Islamic screening criteria. Compliance is certified through a Fatwa issued by Shariah scholars. UMMA provides Shariah compliant exposure to international markets outside the US.

Website:

https://www.wahed.com/uae/umma

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 UMMA in the app to see its international holdings outside the US, the ESG screen layered on top of Shariah compliance, and Wahed's quarterly purification figures. 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 UMMA 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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