أداء الصناديق المتداولة في الأسهم المتوافقة مع الشريعة : دراسة مقارنة

Abstract EN

This research focused on the comparison of the performance of Islamic exchange traded funds (ETFs) partly with their conventional counterparts and partly with their Islamic non-traded counterparts.

The analysis covered the period from January 2008 to June 2014, which witnessed the recent global financial crisis (2008-2009).

The results of the two comparisons showed that the performance of Islamic ETFs was lower than that of the market, but higher than that of both their conventional and Islamic non-traded counterparts.

Furthermore, the results suggest that Islamic ETFs were less risky during the entire study period compared to their counterparts, and have also realized the highest average Return than their counterparts during the period following the market crisis.

To the best of our knowledge, these results are new in the sense that they provide evidence in contrast to the evidence provided for the hypothesis that Islamic ETFs are not different in their performance from their conventional counterparts.