SP Funds S&P Global REIT Sharia ETF (SPRE US) – Portfolio Construction Methodology

The underlying S&P Global All Equity REIT Shariah Capped Index targets global equity REITs from developed and emerging markets that pass S&P Shariah business screens and financial-ratio tests. Eligible REITs must avoid prohibited activities and typically meet ratio limits assessed vs. market cap: total debt ≤33%, cash and interest-bearing items ≤33%, and accounts receivable ≤49%. Constituents are drawn from the S&P Global BMI Shariah universe, ensuring investability via free float and liquidity standards. The index uses float-adjusted market-cap weighting with concentration controls that cap any single issuer at 10% and limit the aggregate weight of >5% positions to 40% at each quarterly rebalance; excess weight is redistributed pro rata. Reviews for Shariah compliance are applied at reconstitution, with corporate actions reflected as needed between rebalances.

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