SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS)
ARCA ARCA Primary 
SPUS: 10 Stocks To Complement This Shariah-Compliant S&P 500 ETF
SPUS is a leading Shariah-compliant U.S. equity comprised of roughly 200 S&P 500 Index stocks. Its expense ratio is 0.45%, and the ETF has $1.64B in assets under management. Despite the suggestion, SPUS is not a substitute for S&P 500 Index ETFs like SPY. In fact, it's heavily concentrated in tech, and consequently, it's much more risky and growth-oriented. Complementing SPUS with a lower P/E fund like HLAL is one solution, but I think readers should consider the ten stocks listed below, selected for their fundamental characteristics.
SPUS: Popular Shariah-Compliant ETF With A Large Growth Lean
SPUS is comprised of 200+ Shariah-compliant S&P 500 Index stocks. Its expense ratio is 0.45% and the ETF has an impressive $1.36 billion in assets under management. SPUS excludes stocks in the Aerospace & Defense, Financial Exchanges & Data, and Transaction & Payment Processing Services sub-industries and also applies several sector-based screens. The ETF is market-cap-weighted, so the weights of these excluded stocks get redistributed to the top, resulting in nearly 53% allocated to the Magnificent Seven.
SPUS: Shariah Exclusions ETF With Nearly 50% Allocated To The Magnificent 7
SPUS tracks the S&P 500 Shariah Industry Exclusions Index, selecting large-cap companies meeting specific screens related to how they derive net income. Fees are 0.45% and AUM is $575 million. SPUS also screens constituents for debt, and the fund ranks an impressive #18/57 on profitability among the large-cap growth ETFs I track. High quality is SPUS' best fundamental feature. The downside is SPUS is highly concentrated, with 47% allocated to Magnificent Seven stocks and two-thirds of assets in only 25 companies.
