SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS US) – Portfolio Construction Methodology

The underlying S&P 500 Shariah Industry Exclusions Index offers Sharia-compliant U.S. large-cap exposure by starting with the S&P 500 Shariah Index and removing constituents classified in Aerospace & Defense, Financial Exchanges & Data, and Data Processing & Outsourced Services. Shariah compliance reflects ongoing sector-based screens (e.g., conventional finance, alcohol, tobacco, gambling, pork-related products, certain entertainment) and accounting-based screens that assess leverage, cash/interest-bearing investments, and receivables against market-capitalization-based thresholds; companies breaching any threshold are excluded. Remaining constituents are float-adjusted and market-cap weighted without additional issuer caps; corporate events and deletions follow the parent Shariah index’s maintenance. The index reflects updates from the parent’s regular Shariah review cycle, with changes implemented alongside those reviews to maintain consistency of compliance and sector exclusions over time.

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