| Investment Objective: |
The SP Funds S&P 500 Sharia Industry Exclusions ETF (the Fund or the Sharia ETF ) seeks to track the performance, beforefees and expenses, of the S&P 500 Shariah Industry Exclusions Index (the Index or the Shariah Index ). The Index is composed of the constituents of the S&P 500 Shariah Index other than those from the following sub-industries:Aerospace & Defense, Financial Exchanges & Data, and Data Processing & Outsourced Services. The S&P 500 Shariah Index includes all Sharia-compliant constituents of the S&P 500 Index, which consists of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization. Islamic religious law commonly knownas Sharia has certain restrictions regarding finance and commercial activities permitted for Muslims, including interest restrictionsand prohibited industries. Constituents of the S&P 500 Shariah Index have been screened for non-compliant business activities(companies that offer products and services that are not compliant with Sharia law such as gambling, alcohol or tobacco) andcompliance with certain accounting-based financial ratios (companies must satisfy financial ratios governing leverage, cash,and the share of revenues derived from non-compliant activities). |
