Hejaz Financial Services Hejaz Sukuk Active ETF (ASX: SKUK)

Australia's only ASX-listed sukuk fund (ARSN 666 691 943, listed 2 November 2023): AAOIFI-screened sovereign and corporate sukuk - Saudi Arabia 4.511% 2033, Indonesia 4.4% 2027, First Abu Dhabi Bank 4.581% 2028 - providing the halal fixed-income sleeve for ASX-bound portfolios. Management fees and costs are 1.33% p.a. of NAV per the PDS. Returned -3.91% over the year to 31 May 2026 (2.63% p.a. since inception), a reminder that sukuk carry real duration and currency risk. Accessible from $100 via the Halal Money app or one unit through any ASX broker.

SKUK matters because it completes the halal asset-allocation toolkit on the ASX: without it, Australian Muslims building diversified portfolios had no listed defensive sleeve at all. The fund holds recognisable sovereign and Gulf corporate sukuk screened to AAOIFI standards under ANIC certification - structurally, exactly what it claims to be. The performance record is a useful reality check: -3.91% over the past year shows sukuk funds carry real duration and currency risk, and anyone treating SKUK as a savings-account substitute will be disappointed. The PDS puts management fees and costs at 1.33% p.a. - cheaper than the equity flagship but high for fixed income - and the currency-hedging policy still isn't stated on the page, both of which materially affect a fixed-income fund's value proposition. Verdict: a genuinely important, well-certified building block whose risk profile sits between cash and equities; size it as the defensive-but-not-riskless sleeve it actually is.