Islamic investment principles · Ireland
Sharia-Compliant Investments
Invest with your values. Plan for your future.
Explore investment options that are screened against established Islamic investment criteria. We help clients in Ireland understand how Sharia-compliant funds work, the markets they cover and the risks involved.
The information on this page is general. Any personal recommendation is made only after our suitability process has been completed.
10Irish-domiciled UCITS ETFs compared
3Types of market exposure explained
2Screening tests: business and financial
UCITSIrish-domiciled fund options
BENEFITS SUMMARY
Invest in Line with Your Principles
Align investments with Islamic principles. Invest in a way designed to reflect Islamic investment principles.
Diversification. Access a basket of companies rather than relying on one share.
Choice of market exposure. Choose from global, regional and specialist market exposures.
Irish-domiciled UCITS options. Use Irish-domiciled UCITS ETF options where available.
HOW SCREENING WORKS
What Does Sharia-Compliant Investing Mean?
Sharia-compliant investing seeks to align investment decisions with Islamic principles. Funds normally apply two types of screening.
01 / Business screening
What the Company Does
Business screening excludes activities such as conventional interest-based finance, alcohol, gambling and pork-related businesses.
02 / Financial screening
How the Company Is Financed
Financial screening applies limits to matters such as interest-bearing debt, cash and certain receivables.
SCREENING APPROACHES CAN DIFFER
Screening approaches can differ between index providers and Sharia scholars. We can explain the methodology used by the available funds so that you can decide whether it meets your requirements.
THE BUILDING BLOCK
What Is an ETF?
An exchange-traded fund, or ETF, is a fund that can hold shares in many companies. Instead of selecting one company, an investor can gain exposure to a broader basket chosen to follow an index.
IN SIMPLE TERMS
An ETF can make diversification easier, but it is still an investment. Its value will rise and fall, and concentration can remain in particular countries, sectors or companies.
MARKET EXPOSURE
Three Types of Market Exposure
A Sharia-compliant portfolio can use different market exposures. The examples below explain the choices; they are not recommendations.
| Exposure | What It Provides | Important Consideration |
|---|---|---|
| Global developed markets | Sharia-screened companies across the US, Europe, Japan, Canada and other developed markets. | Broad by country, but the US and technology can still form a large part. |
| United States | Focused exposure to Sharia-screened US companies. | Less geographic diversification and potentially greater technology concentration. |
| Emerging markets | Exposure to markets such as South Korea, Taiwan, China, India and Saudi Arabia. | Greater political, regulatory, market and currency risk may apply. |
HISTORICAL RETURNS
10 Sharia-Compliant UCITS ETFs: Historical Returns
The table below introduces ten Irish-domiciled UCITS ETFs with different types of Sharia-compliant equity exposure. It shows their reported historical returns to 31 July 2026. This is an educational comparison, not a recommendation or a prediction of which fund will perform best in future.
| # | ETF Name | Ticker / ISIN | 1 Year | 3 Years p.a. | 5 Years p.a. | 10 Years p.a. |
|---|---|---|---|---|---|---|
| 1 | HSBC MSCI Emerging Markets Islamic Screened Capped UCITS ETF | HIEMIE0009BC6K22 | 81.77% | 25.99% | N/A | N/A |
| 2 | iShares MSCI EM Islamic UCITS ETF | ISDEIE00B27YCP72 | 69.11% | 24.70% | 11.16% | 11.11% |
| 3 | HSBC MSCI USA Islamic Screened UCITS ETF | HIUAIE000I5NV504 | 34.77% | 17.36% | 17.36% | N/A |
| 4 | HSBC MSCI Japan Islamic Screened UCITS ETF | HIJPIE0001XCFC82 | 33.23% | N/A | N/A | N/A |
| 5 | HSBC MSCI World Islamic Screened UCITS ETF | HIWOIE000X9FTI22 | 29.59% | 16.02% | N/A | N/A |
| 6 | iShares MSCI USA Islamic UCITS ETF | ISUSIE00B296QM64 | 28.72% | 15.52% | 12.32% | 11.47% |
| 7 | iShares MSCI World Islamic UCITS ETF | ISWDIE00B27YCN58 | 26.53% | 14.40% | 10.66% | 10.42% |
| 8 | HSBC MSCI Europe Islamic Screened UCITS ETF | HIEUIE000AGFZM58 | 22.19% | 11.72% | N/A | N/A |
| 9 | HSBC FTSE EPRA NAREIT Developed Islamic UCITS ETF | HINDIE000U679IT9 | 21.72% | N/A | N/A | N/A |
| 10 | Saturna Al-Kawthar Global Focused Equity UCITS ETF | AMALIE00BMYMHS24 | 17.08% | 14.93%* | N/A | N/A |
* Past performance: Past performance does not predict future returns. A fund that ranks highly over one year may fall sharply or underperform over another period. Availability, suitability and the current KID should be checked before any investment decision.
BALANCE THE DECISION
Potential Benefits and Important Risks
Every potential benefit comes with a risk to weigh before you invest.
Potential Benefits
- Invest in a way designed to reflect Islamic investment principles.
- Access a basket of companies rather than relying on one share.
- Choose from global, regional and specialist market exposures.
- Use Irish-domiciled UCITS ETF options where available.
Important Risks
- Sharia screening standards differ and may change over time.
- Diversification does not prevent losses or remove concentration risk.
- Markets can fall; emerging markets and specialist funds may experience larger price movements.
- Currency movements can increase or reduce the return experienced in euro.
HOW MM ADVISORS CAN HELP
How We Can Help
Options in Plain English
Explain the available Sharia-compliant investment options in plain English.
Compare the Risks
Compare diversification, concentration, geographic exposure and currency risk.
Understand Your Needs
Understand your objectives, time horizon, financial circumstances and attitude to risk before any recommendation is made.
Documents and Next Steps
Provide the relevant product documents and explain the next steps.
Take the Next Step
If you would like to understand the available Sharia-compliant investment options, request our guide or arrange an introductory conversation.
Important: The information on this page is general. Any personal recommendation should only be made after the firm’s suitability process has been completed.
FREQUENTLY ASKED QUESTIONS (FAQs)
Is a Sharia-compliant investment guaranteed?
No. Sharia screening concerns how investments are selected; it does not guarantee returns or protect against market losses.
Will my return be in euro?
Your investment can be valued in euro, but many underlying companies are exposed to other currencies. Exchange-rate movements can affect your result.
What is currency risk, and why does it matter to an investor in Ireland?
Currency risk is the possibility that exchange-rate movements change the return you experience in euro. An ETF may trade in euro while holding shares exposed to US dollars, pounds, yen or other currencies. If those currencies weaken against the euro, this can reduce gains or increase losses; if they strengthen, it can improve the euro return. A euro trading price does not necessarily mean that the ETF is currency-hedged.
Do I need investment experience?
No. The introductory conversation is designed to explain the options and identify what further information you may need.
MORE HELPFUL GUIDES & ADVICE
Guides for Savings and Investments
CLIENT TESTIMONIALS
What Our Clients Say
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