Tuesday, August 11, 2009

The Sharia Exchange Traded Fund: JVS

http://www.goinvestments.us/graph.jpg
Just came to my attention:
Javelin Exchange Traded Shares:
JVS: ... correspond generally to the price and yield performance of a benchmark index that measures the investment return of Shari'ah compliant securities. The Fund employs a "passive" management--or indexing--investment approach designed to replicate the performance of the target index. The Fund will invest all or substantially all of its assets in the securities that make up the target index and in depositary receipts thereof.


Related:
Islamic Market ETF Hits Market: More to Come?

Quote:
Yahoo Finance - JVS quote

My comment: It's a great opportunity to look under the hood and ask why each of the companies held by this ETF are considered "sharia compliant", and if and how it affects those who believe Sharia is creeping in the back door into western countries:

Top 10 Fund Holdings as of June 30, 2009
Name Symbol % of Fund
BP PLC SPONSORED ADR BP 4.94%
TOTAL SA SPON ADR TOT 3.79%
NOVARTIS AG SPON ADR NVS 3.32%
ROCHE HOLDING /CHF/ ROG VX 3.17%
GLAXOSMITHKLINE PLC ADR GSK 3.06%
BHP BILLITON LIMITED ADR BHP 3.01%
RELIANCE INDS GDR 144A RIGD LI 2.56%
TAIWAN SEMICONDUCTOR TSM 2.42%
ASTRAZENECA PLC SPONS ADR AZN 2.12%
PETROLEO BRASILEIRO SA ADR PBR 2.07%

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