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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