HLAL vs. ALAI ETF Comparison

Comparison of Wahed FTSE USA Shariah ETF (HLAL) to Alger AI Enablers & Adopters ETF (ALAI)

HLAL

Wahed FTSE USA Shariah ETF

HLAL Description

The investment seeks to track the total return performance, before fees and expenses, of the FTSE USA Shariah Index. The index is composed of common stocks of large and mid-capitalization U.S. companies the characteristics of which meet the requirements of the Shariah and are consistent with Islamic principles as interpreted by subject-matter experts. Under normal circumstances, at least 80% of its total assets will be invested in the component securities of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.86

Average Daily Volume

60,755

Number of Holdings ^*

198

* may have additional holdings in another (foreign) market

ALAI

Alger AI Enablers & Adopters ETF

ALAI Description

ALAI focuses on equity securities of firms benefiting from artificial intelligence (AI), targeting both AI Enablersthose developing components for and investing in AI infrastructureand AI Adoptersthose integrating AI to enhance their operations. The fund manager employs fundamental research to select securities, considering factors like revenue, resources devoted to AI, and market share estimates. This process assesses a firms involvement with AI and its potential impact on stock performance in the next one to three years. Additionally, ALAI actively seeks companies experiencing Positive Dynamic Change, or those demonstrating high unit volume growth or significant lifecycle shifts. Investments span all market capitalizations, with at least 25% in AI-related industries like technology, retail, and media. The fund may also include foreign securities and hold cash or equivalents during market volatility or when awaiting investment opportunities. ALAI aims to identify firms at the forefront of AI adoption, striving for sustainable long-term growth.

Grade (RS Rating)

Last Trade

$25.87

Average Daily Volume

10,268

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HLAL	ALAI
30 Days	2.35%	9.25%
60 Days	1.62%	13.38%
90 Days	3.31%	18.43%
12 Months	20.13%

17 Overlapping Holdings

Symbol	Grade	Weight in HLAL	Weight in ALAI	Overlap
AAPL	C	14.91%	11.09%	11.09%
ADBE	C	0.98%	1.2%	0.98%
AMD	F	0.99%	1.01%	0.99%
CDNS	B	0.37%	0.56%	0.37%
CEG	D	0.33%	1.69%	0.33%
DELL	C	0.16%	0.58%	0.16%
GOOG	C	3.91%	2.33%	2.33%
ISRG	A	0.85%	1.4%	0.85%
META	D	5.55%	6.72%	5.55%
MRVL	B	0.35%	0.48%	0.35%
MSFT	F	13.84%	11.86%	11.86%
MU	D	0.49%	0.88%	0.49%
NOW	A	0.92%	0.68%	0.68%
PWR	A	0.22%	0.28%	0.22%
TSLA	B	4.25%	0.63%	0.63%
UBER	D	0.62%	0.47%	0.47%
VRT	B	0.22%	2.18%	0.22%

HLAL Overweight 181 Positions Relative to ALAI

Symbol	Grade	Weight
GOOGL	C	4.63%
XOM	B	2.42%
PG	A	1.81%
JNJ	D	1.65%
CRM	B	1.36%
CVX	A	1.24%
MRK	F	1.11%
KO	D	1.1%
CSCO	B	1.04%
LIN	D	0.97%
ABT	B	0.9%
TMO	F	0.87%
TXN	C	0.81%
QCOM	F	0.77%
DHR	F	0.67%
SYK	C	0.63%
PFE	D	0.63%
AMAT	F	0.63%
TJX	A	0.61%
BSX	B	0.6%
COP	C	0.6%
ADP	B	0.55%
PANW	C	0.54%
MDT	D	0.49%
PLD	D	0.48%
ADI	D	0.47%
INTC	D	0.46%
UPS	C	0.43%
TT	A	0.42%
LRCX	F	0.41%
GEV	B	0.41%
NKE	D	0.4%
MDLZ	F	0.39%
SNPS	B	0.37%
KLAC	D	0.37%
WELL	A	0.37%
MCK	B	0.36%
REGN	F	0.35%
CTAS	B	0.34%
EMR	A	0.33%
APD	A	0.33%
MMM	D	0.32%
ADSK	A	0.3%
BDX	F	0.29%
FDX	B	0.29%
SLB	C	0.28%
CARR	D	0.28%
ROP	B	0.26%
PSX	C	0.25%
JCI	C	0.25%
MPC	D	0.25%
NXPI	D	0.25%
PCAR	B	0.25%
DHI	D	0.22%
CMI	A	0.22%
NEM	D	0.22%
GWW	B	0.22%
ROST	C	0.21%
FAST	B	0.21%
AXON	A	0.2%
BKR	B	0.2%
EA	A	0.2%
VLO	C	0.2%
KVUE	A	0.2%
HES	B	0.19%
IR	B	0.19%
EW	C	0.19%
ODFL	B	0.19%
LEN	D	0.18%
COR	B	0.18%
CTVA	C	0.18%
LULU	C	0.17%
GEHC	F	0.17%
A	D	0.17%
IT	C	0.17%
RMD	C	0.16%
NUE	C	0.16%
MLM	B	0.16%
HPQ	B	0.16%
GLW	B	0.16%
VMC	B	0.16%
DD	D	0.15%
OXY	D	0.15%
KDP	D	0.15%
WAB	B	0.15%
FANG	D	0.15%
IDXX	F	0.15%
EBAY	D	0.14%
GRMN	B	0.14%
ROK	B	0.14%
TTWO	A	0.14%
PPG	F	0.13%
ON	D	0.13%
TSCO	D	0.13%
CAH	B	0.13%
XYL	D	0.13%
ANSS	B	0.13%
VLTO	D	0.12%
PHM	D	0.12%
DOW	F	0.12%
FTV	C	0.12%
CHD	B	0.12%
DOV	A	0.12%
HAL	C	0.12%
HUBB	B	0.11%
DVN	F	0.11%
TYL	B	0.11%
NTAP	C	0.11%
ADM	D	0.11%
STLD	B	0.1%
LYB	F	0.1%
PKG	A	0.1%
ATO	A	0.1%
PTC	A	0.1%
ZBH	C	0.1%
WY	D	0.1%
WST	C	0.1%
BIIB	F	0.1%
IFF	D	0.1%
OMC	C	0.09%
MKC	D	0.09%
ZBRA	B	0.09%
FSLR	F	0.09%
LH	C	0.09%
STE	F	0.09%
WDC	D	0.09%
ILMN	D	0.09%
BLDR	D	0.09%
ALGN	D	0.08%
EXPD	D	0.08%
GPC	D	0.08%
IEX	B	0.08%
BURL	A	0.08%
PNR	A	0.08%
TRMB	B	0.08%
HOLX	D	0.08%
DGX	A	0.08%
ARE	D	0.08%
SNA	A	0.08%
PODD	C	0.08%
JBHT	C	0.07%
EL	F	0.07%
FLEX	A	0.07%
MRO	B	0.07%
TER	D	0.07%
ULTA	F	0.07%
CF	B	0.07%
IP	B	0.07%
ICLR	D	0.07%
BG	F	0.06%
DLTR	F	0.06%
SMCI	F	0.06%
ALB	C	0.06%
SWK	D	0.06%
AKAM	D	0.06%
POOL	C	0.06%
REG	B	0.06%
RVTY	F	0.06%
ROL	B	0.06%
FFIV	B	0.06%
APTV	D	0.06%
DAL	C	0.05%
TECH	D	0.05%
IPG	D	0.05%
NWSA	B	0.05%
JNPR	F	0.05%
OKTA	C	0.05%
BMRN	D	0.05%
TFX	F	0.04%
SCCO	F	0.04%
CRL	C	0.04%
LKQ	D	0.04%
WBA	F	0.03%
QRVO	F	0.03%
UAL	A	0.03%
NWS	B	0.02%
GFS	C	0.02%
WLK	D	0.02%
LUV	C	0.02%
AGR	B	0.01%
LEN	D	0.0%

HLAL Underweight 24 Positions Relative to ALAI

Symbol	Grade	Weight
NVDA	C	-10.98%
AMZN	C	-8.81%
APP	B	-4.79%
AVGO	D	-4.14%
SPGI	C	-2.88%
TSM	B	-2.57%
DKNG	B	-1.77%
MELI	D	-1.45%
UNH	C	-1.42%
EQIX	A	-1.34%
NFLX	A	-1.34%
NRG	B	-1.02%
SPOT	B	-1.0%
ASML	F	-0.81%
SE	B	-0.8%
PINS	D	-0.79%
NTRA	B	-0.74%
DLR	B	-0.45%
TTD	B	-0.43%
WMT	A	-0.31%
NEE	D	-0.27%
SHOP	B	-0.24%
JPM	A	-0.22%
HUBS	A	-0.2%