Wahed FTSE USA Shariah ETF (HLAL) Performance
HLAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +17.2% since Dec 31, 2025
- 1 year
- +19.8% total return
- 5 years
- +13.5% a year
- Since first price
- +16.8% a year since 2019
HLAL trailing returns vs SPY, QQQ, AGG
| Period | HLAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.1% | −3.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.8% | +3.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +10.7% | +10.6% | +7.8% | +8.4% | −1.5% |
| YTD | +17.2% | +16.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +19.8% | +19.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +79.9%+21.6%/yr | +76.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +88.5%+13.5%/yr | +81.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJul 16, 2019 | +208.9%+16.8%/yr | +190.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HLAL vs SPY
From Jul 16, 2019: HLAL grew to $30,887, SPY to $28,154.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HLAL returns by calendar year
5 of 6 full years positive. Best 2023 (+30.1%), worst 2022 (−17.6%). 2026 is year to date.
HLAL annual returns table
| Year | HLAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +17.2% | −10.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +18.3% | −20.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.7% | −9.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +30.1% | −9.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −17.6% | −23.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +28.6% | −7.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +24.6% | −33.6% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HLAL largest drawdowns
Now 5.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −33.6% | Mar 23, 2020 | Jul 22, 2020 | 33 days | 5 months |
| Jan 3, 2022 | −23.2% | Oct 12, 2022 | Jul 13, 2023 | 9 months | 1.5 years |
| Dec 17, 2024 | −21.7% | Apr 8, 2025 | Jul 23, 2025 | 4 months | 7 months |
| Jan 28, 2026 | −10.2% | Mar 30, 2026 | Apr 15, 2026 | 2 months | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HLAL risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +22.5% | +15.5% | +17.6% |
| Volatility (annualized) | 14.4% | 16.6% | 17.8% |
| Sharpe ratio | 1.19 | 0.74 | 0.85 |
| Sortino ratio | 2.40 | 1.23 | 1.43 |
| Best month | +12.9% | +12.9% | +13.9% |
| Worst month | −6.2% | −8.9% | −11.9% |
| Best 12 months | +43.9% | +43.9% | +65.0% |
| Worst 12 months | +1.7% | −17.6% | −17.6% |
| Positive months | 67% | 63% | 65% |
| Beta vs S&P 500 | 1.09 | 1.02 | — |
| Correlation with S&P 500 | 0.94 | 0.97 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HLAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 76 | −17.6% | +19.1% | +65.0% | 88% |
| 3-year (a year) | 52 | +6.4% | +13.5% | +22.9% | 100% |
| 5-year (a year) | 28 | +11.8% | +15.4% | +18.7% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
HLAL performance overview
Wahed FTSE USA Shariah ETF (HLAL) returned +19.8% over the past year and +13.5% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +16.8% a year, turning $10,000 into about $30,887. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −33.6%, from Feb 19, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. HLAL finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+30.1%) and the worst 2022 (−17.6%). Volatility has been 17.8% a year.
Related: HLAL chart, HLAL holdings, HLAL dividends, HLAL valuation. See the HLAL overview for the latest quote and fund facts.
HLAL performance FAQ
What is the HLAL return over the past year?
HLAL returned +19.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 19.3%.
What is the average annual return of HLAL?
HLAL has returned +13.5% a year over 5 years, +16.8% a year since July 16, 2019 (total return, distributions reinvested).
How much would $10,000 invested in HLAL be worth?
$10,000 invested in HLAL at its first recorded close on July 16, 2019 would be worth about $30,887 on October 23, 2026 with distributions reinvested.
What was the worst year for HLAL?
The worst calendar year was 2022, with a total return of −17.6%. The best was 2023 at +30.1%.
What is the biggest drawdown of HLAL?
The largest peak-to-trough decline was −33.6% between February 19, 2020 and March 23, 2020. It recovered to the old high on July 22, 2020, 4 months after the bottom.
How volatile is HLAL?
Over the past 3 years HLAL had an annualized volatility of 14.4% and a Sharpe ratio of 1.19 (excess return over 1–3 month T-bills per unit of risk).