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| Lunate ETFs |
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GCC Equity ETFs
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 Chimera S&P UAE Shariah ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED1.6tn |
17.02x |
25.74% |
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| The UAE Shariah ETF posted a positive total return of 3.3% in May, following its net total return index's gains of 3.4%. The index’s performance was mainly attributed to the positive returns of 9.1% and 4.8% posted by Dubai Islamic Bank and Abu Dhabi Islamic Bank, respectively. |
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| Chimera S&P UAE UCITS ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED2.1tn |
13.64x |
24.23% |
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| The UAE UCITS ETF posted a positive total return of 3.9% during the month, in line with its net total return index’s gains of 4.0%. The index’s performance was primarily driven by the positive returns of First Abu Dhabi Bank and Emirates NBD, which ended the month in the green, increasing by 7.2% and 9.0%, respectively. |
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 Chimera S&P KSA Shariah ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED7.6tn |
53.88x |
20.36% |
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| The KSA Shariah ETF declined by 6.4% in AED terms during May, following its net total return index's decline of 6.3%. The index’s performance was primarily driven by the negative returns of Al Rajhi Bank and ACWA Power, which ended the month in the red, declining by 6.5% and 19.6%, respectively. |
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 Chimera S&P Kuwait Shariah ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED266.6bn |
23.71x |
12.97% |
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| The Kuwait Shariah ETF closed the month at 4.5% in the green in AED terms, as its net total return index gained 4.6%. The index’s positive performance was mainly due to the 11.3% and 3.7% gains at Warba Bank and Kuwait Finance House, respectively. |
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| Chimera FTSE ADX 15 ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED2.1tn |
30.04x |
19.27% |
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| The FTSE ADX 15 ETF gained 2.3% during the month, as its net total return index gained 2.4%. The index's performance was primarily driven by positive performances of 7.2% and 4.8%, respectively, posted by First Abu Dhabi Bank and Abu Dhabi Islamic Bank, respectively. |
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Global Equity ETFs
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 Chimera S&P US Shariah Growth ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED99.2tn |
39.20x |
65.57% |
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| The US Shariah Growth ETF ended May 8.3% in the green in AED terms, mirroring its net total return index’s 8.4% gains. The index’s positive performance was mainly due to the gains of 24.1% and 16.5% posted by NVIDIA Corp and Microsoft Corp, respectively, during the month. |
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| Chimera S&P US Shariah Value ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED29.6tn |
28.23x |
43.43% |
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| The US Shariah Value ETF posted a positive return of 6.4% in AED terms during the month, with its net total return index gains of 6.5%. The index's positive performance was primarily attributed to the positive returns of 16.5% and 14.2% posted by Microsoft Corp. and Texas Instruments Inc., respectively. |
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 Chimera S&P Turkey Shariah ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED186.8bn |
21.33x |
12.94% |
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| The Turkey Shariah ETF declined by 4.1% in AED terms in May, replicating its net total return index’s negative return of 3.9%. The index’s performance was mainly due to the 2.0% depreciation of Turkish Lira against AED, also the 5.8% and 4.0% declines posted by Enka Insaat ve Sanayi AS and Aselsan SA, respectively. |
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 Chimera S&P China HK Shariah ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED4.9tn |
22.42x |
16.48% |
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| The China HK Shariah ETF delivered a positive return of 1.6% in AED terms during May, following its net total return index’s gains of 1.7%. The index's positive performance was attributed to the positive returns of 5.9% and 6.1% posted by Meituan and BYD Co, respectively. |
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 Chimera S&P Pakistan UCITS ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED72.1bn |
6.30x |
32.14% |
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| The Pakistan UCITS ETF posted a positive return of 6.6% in AED terms during May, while its net total return index closed the month 6.8% in the green. The difference between the ETF and index returns is due to capital gains tax. The index’s performance was primarily driven by the positive returns of 10.5% and 14.8% witnessed at United Bank and Meezan Bank, respectively. |
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 Chimera S&P India Shariah ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED4.0tn |
53.75x |
22.04% |
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| The India Shariah ETF closed May 1.6% in the green in AED terms, while its net total return index posted a 2.1% gain. The difference between the ETF’s returns and those of its index is due to the accrual of the capital gains tax. The index's positive performance was largely attributed to positive returns of 22.5% and 4.3%, posted by Bharat Electronics and Infosys, respectively. |
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 Chimera S&P Japan UCITS ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED8.1tn |
20.59x |
14.34% |
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| The Japan UCITS ETF closed 6.5% in the green in AED terms during the month, following its net total return index which had 6.6% gain during the month. The Index's positive performance was largely attributed to positive returns of 16.5% and 14.2% posted by Mitsubishi UFJ Financial and Hitachi, respectively. |
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 Chimera S&P Germany UCITS ETF |
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| Index Mkt Cap |
P/E |
ROE |
| AED7.6tn |
42.27x |
12.89% |
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| The Germany UCITS ETF gained 5.7% in AED terms in May, mirroring its net total return index’s gains of 5.7%. The Index's positive performance was largely attributed to positive returns of 25.8% and 4.2% posted by Rheinmetall and SAP, respectively. |
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Fixed Income ETFs
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| Chimera JP Morgan UAE Bond UCITS ETF |
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| Index Mkt Cap |
Weighted Avg Duration |
Yield To Maturity |
| AED503.5bn |
5.57 |
4.89% |
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| The UAE Bond UCITS ETF declined by 0.3% during May in AED terms, in line with its benchmark index, which also fell 0.3%. Market volatility persisted amid fiscal policy and tariff-related headlines, with U.S. 10-year Treasury yields rising as much as 43bps before ending the month 22bps higher. Credit spreads of UAE issuers tightened during the month. Markets currently expect three 25bps rate cuts in 2025. |
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 Chimera JP Morgan Global Sukuk ETF |
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| Index Mkt Cap |
Weighted Avg Duration |
Yield To Maturity |
| AED337.1bn |
4.93 |
4.78% |
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| The Global Sukuk ETF was flat in May in AED terms, underperforming its benchmark, which gained 0.1%. The modest decline was driven by a sell-off in U.S. Treasuries amid inflation and debt sustainability concerns. While interest rates rose over the period, tightening credit spreads among sukuk issuers helped offset some of the impact from higher yields. |
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 Chimera iBoxx US Treasury Bill ETF |
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| Index Mkt Cap |
Weighted Avg Duration |
Yield To Maturity |
| AED20.6tn |
0.21 |
4.07% |
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| The US Treasury Bill ETF returned 0.3% in May in AED terms, matching the performance of its benchmark index. Although short-term interest rates increased slightly during the month, the positive performance was mainly driven by the natural pull-to-par effect of maturing T-bills. |
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For more information on Lunate ETFs, visit etfs.lunate.com, email us at capitalmarkets-etfs@lunate.com or call +971 2 877 889. Follow us on social media to stay updated with our latest developments.
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