@coelohim This is not sitting right.
Again, the problem for Sharia etfs isn't that all the etfs are tech heavy. That's a concentration problem that if tech crashed soon, it would crash the whole market. The problem with shariah etfs is that it's not equally weighted on all sectors like VOO or SPY. Take, for example HLAL it has 14% in apple and 13% or something in Microsoft, but SPY doesn't have that much in apple or Microsoft.
So HLAL would over perform as long as tech and specifically apple and microsoft are over performing. But once these companies fuck up and eventually everything will fuck up you're gonna lose much much more than other market etfs that doesn't have that much in 2 companies. And right now, HLAL is underperforming due to Apple problems..
And there is nothing called "get assured tech is the future." This is bull shit. We've seen tech bubbles and dot com busts while tech was the future before.
That made QQQ etf lose a lot of money that you needed literally 11 years to just break even. You have to be responsible with your money, dude.
If you're gonna invest with a mentality of going to a local sheikh to assure you that your salah was valid because you forgot to do some prayer in it or do full tashahud and feel good and "assured" then investing isn't for you.
As shariah compliant muslim, you don't have the benefits of obtaining the market etf and chill, you at some point will have to meddle in there and manually allocate your resources. Because neither HLAL nor SPUS are tracks of the market. And if tech stocks are overvalued, now you better just find other investment outlets other than stocks for a while. Because if the opinion that all PEs are overvalued now is correct and there will be a tech burst soon, you will lose a lot.
