Islamic Indices Remain Industry Outperformers in 3Q 2020: Standard and Poor’s Global

Standard and Poor’s Global (S&P Global) Shariah-compliant benchmarks significantly outperformed conventional indices, in the third quarter of 2020 (3Q 2020). With global equities gaining 8.1% year-to-date (YTD), the S&P Global Broad Market Index (BMI) Shariah and the Dow Jones Islamic Market (DJIM) World Index recorded gains of 13.3% YTD and 14.4% YTD, respectively in the same period.

On a regional basis, emerging markets saw the largest improvements, with the DJIM World Emerging Markets Index yielding an additional 21.3% return over that of conventional benchmarks.

Sector-wise, the Information Technology (IT) segment, which is usually overweight in Islamic indices, p...