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HLAL is an ETF that follows Shariah principles and provides wide access to the U.S. market, prioritizing low debt and ethical companies. It tracks the FTSE USA Shariah Index, mainly focusing on the technology and healthcare sectors, with Apple and Microsoft making up almost 30% of its investments. The fund has a strong emphasis on technology (56.6%) and healthcare (12.2%), while steering clear of industries such as alcohol, tobacco, and traditional financial services.
Despite a yield curve inversion, there is no recession and equities are performing well. Rising interest rates haven't led to increased interest payments for cash-rich companies. The Wahed FTSE USA Shariah ETF is overweight in sectors with cash-rich companies, making it a good investment opportunity.
The Ramadan effect refers to the observation that in Islamic countries stock returns during Ramadan are higher and less volatile than during the rest of the year. HLAL is biggest US shariah-compliant ETF.
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