New "passively active" ETF filed

It was inevitable: an active fund that declares it will hold similar components of an index.

Name: Wahed Dow Jones Islamic World ETF

Ticker: UMMA
Exchange: NASDAQ
Expense ratio: TBD
Original filing date: August 30, 2021
Effective date: November 15, 2021

Listing Date: TBD

CUSIP: TBD

Active: Yes

Index / Benchmark: Dow Jones Islamic International Titans 100 Index
Best of both worlds: securities research and selection outsourced, but discretionary control and flexibility in managing fund. 

Ticker is possible reference to "𝘜𝘮𝘮𝘢𝘩", commonly used to refer to the collective community of Islamic peoples.
https://en.wikipedia.org/wiki/Ummah

Prospectus:
https://www.sec.gov/Archives/edgar/data/1683471/000089418921006279/wahedislamicworld485a.htm

MORE ETF HEARSAY

 

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