CHICAGO and MILWAUKEE and NEW YORK, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Tidal ETF Services LLC (“Tidal”), an innovative leading provider of ETF services, announced today the SP Funds S&P 500 Sharia Industry Exclusions ETF (NYSE: SPUS) surpassed $100 million AUM since launching in partnership with Tidal in December 2019. SPUS was created and launched by SP Funds, a boutique asset management firm specializing in socially responsible and halal investing.
“We congratulate our partner firm SP Funds on achieving an important milestone for any ETF, especially in the competitive space of Sharia-compliant ETFs,” said Eric Falkeis, Chief Executive Officer of Tidal. “SP Funds has shown that Sharia-compliant funds are to be considered a more mainstream exposure that investors should consider for their portfolios.”
Tidal ETF Services is a boutique multi-manger ETF platform founded by industry pioneers. Services are designed for asset managers looking for a fast, efficient path to market with a comprehensive solution for AUM growth. The Tidal Trust is thoughtfully constructed to include unique, innovative, best-in-class ETFs. Currently, the Tidal Trust has 28 ETFs worth over $2.7 billion.
“We extend appreciation to Tidal for their support and guidance with SPUS. Our partnership led to the launch of two other Sharia-compliant ETFs. The growth of SPUS in a relatively short time is a clear indication that investors are gravitating to ethical investment choices driven by the values they live by. We expect this trend to continuously grow and evolve,” commented Naushad Virji, CEO SP Funds.
The SP Funds S&P 500 Sharia Industry Exclusions ETF (ticker: SPUS) tracks the S&P 500 Sharia Industry Exclusions Index, which is designed to provide value-conscious exposure to those S&P 500 companies that meet the guidelines of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The ETF and its underlying index use an exclusion methodology to arrive at the underlying portfolio.
About SP Funds
SP Funds is the home of North America’s largest family of Sharia-compliant ETFs, is dedicated to offering an ethical approach to investing that avoids companies with significant debt or involved in prohibited business. By adhering to AAOIFI guidelines, SP Funds ensures that the securities in its ETFs avoid investments in businesses such as tobacco, pornography, gambling, and interest-based finance. This results in a collection of socially responsible investments that are in well capitalized companies. For more information, visit sp-funds.com.
About Tidal ETF Services
Formed by ETF industry pioneers and thought leaders, Tidal ETF Services LLC sets out to revolutionize the way ETFs have historically been developed, launched, marketed, and sold. With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market. Tidal’s team are advocates for ETF innovation on a mission to provide issuers with the intelligence and tools needed to efficiently and effectively launch ETFs, and to optimize growth potential in a highly competitive space. For more information, visit tidaletfservices.com.
Important Information
This information is for informational purposes only and should not be used for any other purpose. The information contained herein does not constitute and should not be construed as an offering of advisory services or an offer to sell or solicitation to buy any securities or related financial instruments in any jurisdiction.
Investing involves risk, including the possible loss of principal. Please read each prospectus for specific details regarding the ETF’s risk profile.
Certain information contained herein is based on or derived from information provided by independent third-party sources. Tidal believes that the sources from which such information has been obtained are reliable; however, it cannot guarantee the accuracy of such information and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based.
The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. For the summary and/or statutory prospectuses containing this and other important information for the Funds please call 877-358-0096. Read the prospectus carefully before investing.
Funds are distributed by Foreside Fund Services, LLC.
