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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Azzad Ethical Fund

ADJEX | Fund

$17.95

$151 M

0.00%

$0.00

1.14%

Vitals

YTD Return

8.1%

1 yr return

24.4%

3 Yr Avg Return

4.5%

5 Yr Avg Return

10.6%

Net Assets

$151 M

Holdings in Top 10

28.0%

52 WEEK LOW AND HIGH

$17.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.14%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 64.12%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$1,000

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Azzad Ethical Fund

ADJEX | Fund

$17.95

$151 M

0.00%

$0.00

1.14%

ADJEX - Profile

Distributions

  • YTD Total Return 8.1%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 10.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.64%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Azzad Ethical Fund
  • Fund Family Name
    Azzad Funds
  • Inception Date
    Nov 25, 2002
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jamal Elbarmil

Fund Description

The Ethical Fund seeks to achieve its objective by investing primarily in common stocks of mid-capitalization companies that the Adviser believes are high quality and/or exhibit above-average growth potential, which, for the purposes of this Ethical Fund, typically are companies with market capitalizations similar to those issuers included in the Russell Midcap® Growth Index (the “Index”) over the last 13 months at the time of purchase. As of September 30, 2023, the market capitalizations of companies in the Russell MidCap® Growth Index ranged from approximately $310 million to $53 billion. Over time, the capitalizations of the companies in the Index will change. As they do, the size of the companies in which the fund invests may change. Under normal market conditions, the Ethical Fund will invest at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in securities meeting the Ethical Fund’s ethical investment criteria.

The Ethical Fund seeks total return, which includes income from dividends and capital appreciation of portfolio securities held by the Ethical Fund.

Delaware Investments Fund Advisers (“DIFA”) assists the Adviser in the management of the Ethical Fund by providing an investment model for the Adviser to use in managing the Ethical Fund’s investments. In addition, DIFA recommends which securities should be purchased, retained, or sold by the Ethical Fund, in accordance with the model. The Adviser retains sole discretion as to the timing and implementation of DIFA’s recommendations. The Adviser will screen DIFA’s model for companies that comply with the Ethical Fund’s ethical investment restrictions. From the screened model, the Adviser will decide which securities to purchase for the Ethical Fund. The Adviser may also choose to replace investments that do not pass its ethical investment restrictions with suitable replacements.

In selecting securities for its model, DIFA primarily emphasizes a bottom-up (researching individual issuers) approach and focuses on companies it believes have the potential for strong growth, increasing profitability, stable and sustainable revenue and earnings streams, attractive valuations, and sound capital structures. DIFA may look at various factors in its consideration of a company, such as: new or innovative products or services; adaptive or creative management; strong financial and operational capabilities to sustain multi-year growth; stable and consistent revenue, earnings, and cash flow; strong balance sheet; market potential; and profit potential. Part of DIFA’s investment process also includes a review of the macroeconomic environment, with a focus on factors such as interest rates, inflation, consumer confidence and corporate spending.

Generally, in determining whether to remove a position from the investment model, DIFA considers many factors, including what it believes to be excessive valuation given company

growth prospects, deterioration of fundamentals, weak cash flow to support shareholder returns, unexpected and poorly explained management changes, and to take advantage of what it believes are more attractive investment opportunities.

The Adviser will sell a security if it falls out of compliance with the Ethical Fund’s ethical investment restrictions. The Adviser may also sell securities for a variety of reasons, such as when it is sold from DIFA’s model to secure gains, limit losses, raise cash, or redeploy assets into opportunities believed to be more promising, among others.

If the Adviser’s strategies do not work as intended, the Ethical Fund may not achieve its objective.

To take advantage of market inefficiencies, the Ethical Fund may be actively traded. During these periods, the Ethical Fund may have a higher turnover rate.

Ethical Investment Restrictions

The Ethical Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.

The Ethical Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency).

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ADJEX - Performance

Return Ranking - Trailing

Period ADJEX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.1% -5.1% 27.8% 63.34%
1 Yr 24.4% -6.1% 60.7% 76.87%
3 Yr 4.5%* -24.0% 86.1% 21.91%
5 Yr 10.6%* -2.9% 100.8% 60.88%
10 Yr 9.0%* 0.4% 37.0% 79.06%

* Annualized

Return Ranking - Calendar

Period ADJEX Return Category Return Low Category Return High Rank in Category (%)
2023 21.2% -27.7% 68.0% 39.71%
2022 -27.9% -85.6% 350.1% 30.95%
2021 3.8% -77.0% 238.3% 33.71%
2020 23.5% -44.1% 2474.5% 60.70%
2019 22.2% -50.2% 44.0% 67.33%

Total Return Ranking - Trailing

Period ADJEX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.1% -5.1% 27.8% 63.34%
1 Yr 24.4% -6.1% 60.7% 76.87%
3 Yr 4.5%* -24.0% 86.1% 21.91%
5 Yr 10.6%* -2.9% 100.8% 60.88%
10 Yr 9.0%* 0.4% 37.0% 79.06%

* Annualized

Total Return Ranking - Calendar

Period ADJEX Return Category Return Low Category Return High Rank in Category (%)
2023 24.3% -26.1% 68.0% 26.41%
2022 -27.8% -67.0% 440.7% 47.07%
2021 17.8% -23.5% 342.2% 23.92%
2020 30.4% 2.6% 2549.1% 72.37%
2019 30.0% 14.6% 44.8% 80.36%

NAV & Total Return History


ADJEX - Holdings

Concentration Analysis

ADJEX Category Low Category High ADJEX % Rank
Net Assets 151 M 1.94 M 84.5 B 81.49%
Number of Holdings 63 25 3644 72.41%
Net Assets in Top 10 40 M 319 K 8.39 B 82.40%
Weighting of Top 10 28.01% 0.4% 99.9% 41.38%

Top 10 Holdings

  1. Costar Group, Inc. 4.21%
  2. Cadence Design Systems, Inc. 3.50%
  3. DexCom, Inc. 3.36%
  4. Pinterest, Inc. Class A 2.94%
  5. Monolithic Power Systems, Inc. 2.70%
  6. Crowdstrike Holdings, Inc. Class A 2.55%
  7. Quanta Services, Inc. 2.22%
  8. Trex Co., Inc. 2.21%
  9. Floor Decor Holdings, Inc. Class A 2.20%
  10. Teradyne, Inc. 2.12%

Asset Allocation

Weighting Return Low Return High ADJEX % Rank
Stocks
97.18% 0.92% 101.49% 72.41%
Cash
2.82% 0.00% 99.08% 30.31%
Preferred Stocks
0.00% 0.00% 5.46% 99.64%
Other
0.00% -0.18% 16.96% 95.46%
Convertible Bonds
0.00% 0.00% 0.40% 99.64%
Bonds
0.00% -3.27% 1.87% 99.46%

Stock Sector Breakdown

Weighting Return Low Return High ADJEX % Rank
Technology
41.41% 0.04% 62.17% 7.44%
Healthcare
22.15% 0.00% 37.06% 18.51%
Consumer Cyclical
13.26% 0.00% 57.41% 58.26%
Industrials
11.96% 0.00% 38.23% 76.04%
Communication Services
4.07% 0.00% 18.33% 29.04%
Real Estate
2.97% 0.00% 19.28% 39.93%
Basic Materials
1.89% 0.00% 17.25% 56.81%
Financial Services
1.15% 0.00% 43.01% 95.46%
Consumer Defense
1.14% 0.00% 16.40% 70.05%
Utilities
0.00% 0.00% 12.94% 99.64%
Energy
0.00% 0.00% 62.10% 99.64%

Stock Geographic Breakdown

Weighting Return Low Return High ADJEX % Rank
US
97.18% 0.64% 101.49% 59.35%
Non US
0.00% 0.00% 34.81% 99.64%

ADJEX - Expenses

Operational Fees

ADJEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.14% 0.02% 17.54% 45.07%
Management Fee 0.80% 0.00% 1.50% 75.64%
12b-1 Fee 0.15% 0.00% 1.00% 27.69%
Administrative Fee N/A 0.00% 0.40% N/A

Sales Fees

ADJEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ADJEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 86.36%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ADJEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 64.12% 0.00% 250.31% 70.42%

ADJEX - Distributions

Dividend Yield Analysis

ADJEX Category Low Category High ADJEX % Rank
Dividend Yield 0.00% 0.00% 32.46% 99.64%

Dividend Distribution Analysis

ADJEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually SemiAnnual Annual

Net Income Ratio Analysis

ADJEX Category Low Category High ADJEX % Rank
Net Income Ratio -0.64% -2.24% 2.75% 53.41%

Capital Gain Distribution Analysis

ADJEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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ADJEX - Fund Manager Analysis

Managers

Jamal Elbarmil


Start Date

Tenure

Tenure Rank

Mar 30, 2020

2.17

2.2%

Since April 2000, Mr. Jamal Elbarmil has served as the Vice President of Azzad Asset Management .He is responsible for the day to day management of the Funds’ portfolio. He holds a Master’s Degree in Information Systems from the American University in Washington, DC. Mr. Elbarmil reviews the Funds’ holdings and performance to ensure compliance with the Funds’ respective strategies. Prior to joining Azzad, Mr. Elbarmil was Vice President of Technology for Information Policy & Administration, Inc. in Virginia where he supervised the development of software systems.

Kimberly Scott


Start Date

Tenure

Tenure Rank

Jan 26, 2021

1.34

1.3%

Kim Scott,Senior Vice President of Ivy Investment Management Company, has served as portfolio manager of the Fund since May 2014. She has been portfolio manager of Ivy Mid Cap Growth Fund since 2001 and of Ivy VIP Mid Cap Growth since 2005. She has been co-portfolio manager of Ivy Mid Cap Income Opportunities Fund since 2014. She assumed co-portfolio manager responsibilities for the mid cap growth product suite in 2016. Ms. Scott joined the organization in 1999 as an equity investment analyst. She was appointed assistant vice president in 2000. She was appointed vice president in 2001 and senior vice president in 2004. Prior to joining the firm, Ms. Scott served in various levels of research positions throughout her career affiliated with the following companies: Bartlett & Company, NBD Bank, Johnson Investment Counsel, Inc. and the University of Cincinnati Medical Center. Her primary responsibilities included fundamental analysis of companies and equities for mutual funds, separate accounts, and personal trusts. Through this experience, Ms. Scott provided sector coverage for consumer non-durables, technology, retail, food and beverage, and tobacco. Ms. Scott graduated from the University of Kansas in 1982 with a BS in Microbiology. She earned an MBA in Finance from the University of Cincinnati in 1987. Ms. Scott is a CFA charterholder. She is a member of the CFA Institute and the CFA Society Kansas City.

Nathan Brown


Start Date

Tenure

Tenure Rank

Jan 26, 2021

1.34

1.3%

Nathan Brown is Senior Vice President of Ivy Investment Management Company, has served as portfolio manager of the Fund since October 2016. He has been co-portfolio manager of Ivy Mid Cap Income Opportunities Fund since 2014. He had been assistant portfolio manager of Ivy Mid Cap Growth Fund and Ivy VIP Mid Cap Growth since 2011. He was named co-portfolio manager of the mid cap growth product suite in 2016. Mr. Brown joined the organization in 2003 as an equity investment analyst. He was appointed assistant vice president in 2010 and vice president in 2014. He was appointed senior vice president in 2018. Prior to joining the firm, Mr. Brown interned with Morgan Keegan. From 1999 to 2001 he completed five rotations at General Electric-Aircraft Engine’s financial management program. In 1999 he was a securities analyst for Krause Fund, where his responsibilities were concentrated in the utilities sector. Mr. Brown graduated with honors from the University of Iowa, Henry B. Tippie School of Business in 1999 with a BBA in Finance. He earned an MBA with an emphasis in Finance and Accounting from Vanderbilt University, Owen Graduate School of Management in 2003.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.3 9.23 2.25