Why SAB Invest Saudi Quant ETF?
SAB Invest Saudi Quant ETF invests in securities included in the Standard & Poor's Saudi Domestic Shariah Compliant Index (Total Return Index) using multi-factor models. The basket of stocks comprising the fund is determined using quantitative methods and mathematical algorithms that determine the optimal weight distribution of the companies comprising the index tracked by the fund.
Index Methodology
The fund uses the Standard & Poor's Saudi Domestic Shariah Index (Total Return Index). The index's value is calculated based on the free float capitalization of the companies comprising the index. The index includes most companies listed on the Saudi stock market, as well as exchange-traded funds (ETFs) and real estate investment trusts (REITs). A number of companies are excluded based on several factors, such as the liquidity or size of their shares. The index is a total return index, meaning that the value of any dividends is included in its value.
Fund Objectives
The Fund is an open-ended publicly traded index fund that seeks to achieve long-term capital growth. It aims to achieve a performance level that tracks the performance of the Standard & Poor's Saudi Domestic Equity Index (the Shariah-compliant Total Return Index), with a tracking error of up to a maximum of 3.00%.