SP Funds S&P Global Technology ETF(AMEX:SPTE)

SPTE employs a passive management approach, following a global index comprised of large-cap firms within the information technology sector that pass specific criteria for adherence to Shariah laws. Business practices that are against the principles of Shariah like gambling, tobacco, or alcohol-related business activities are screened out. Additionally, firms deploying leverage that contravenes Shariah regulations are eliminated. The index is float-adjusted market capitalization weighted for each member, with capping coming into play if a single constituent exceeds 10% share or if a single domicile countrys share surpasses 50% of the index. Furthermore, SPTE has the flexibility to invest up to 20% of its assets in Shariah-compliant securities not listed in the index based on the fund advisers recommendations. These are chosen to help the fund align with the index performance. SPTE seeks to provide a balanced exposure to the IT sector, aligning with Shariah guidelines and aiming to deliver consistent performance in line with the index.