0001162044-18-000618.txt : 20181106 0001162044-18-000618.hdr.sgml : 20181106 20181106111439 ACCESSION NUMBER: 0001162044-18-000618 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 16 FILED AS OF DATE: 20181106 DATE AS OF CHANGE: 20181106 EFFECTIVENESS DATE: 20181106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AZZAD FUNDS CENTRAL INDEX KEY: 0001031008 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-20177 FILM NUMBER: 181162020 BUSINESS ADDRESS: STREET 1: 3141 FAIRVIEW PARK DRIVE STREET 2: SUITE 355 CITY: FALLS CHURCH STATE: VA ZIP: 22042 BUSINESS PHONE: 6306532666 MAIL ADDRESS: STREET 1: 3141 FAIRVIEW PARK DRIVE STREET 2: SUITE 355 CITY: FALLS CHURCH STATE: VA ZIP: 22042 FORMER COMPANY: FORMER CONFORMED NAME: ISLAMIA GROUP OF FUNDS DATE OF NAME CHANGE: 19970121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AZZAD FUNDS CENTRAL INDEX KEY: 0001031008 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-08021 FILM NUMBER: 181162019 BUSINESS ADDRESS: STREET 1: 3141 FAIRVIEW PARK DRIVE STREET 2: SUITE 355 CITY: FALLS CHURCH STATE: VA ZIP: 22042 BUSINESS PHONE: 6306532666 MAIL ADDRESS: STREET 1: 3141 FAIRVIEW PARK DRIVE STREET 2: SUITE 355 CITY: FALLS CHURCH STATE: VA ZIP: 22042 FORMER COMPANY: FORMER CONFORMED NAME: ISLAMIA GROUP OF FUNDS DATE OF NAME CHANGE: 19970121 0001031008 S000004763 Azzad Ethical Fund C000012956 Azzad Ethical Fund ADJEX 0001031008 S000022554 Azzad Wise Capital Fund C000065234 Azzad Wise Capital Fund WISEX 485BPOS 1 azzadfundsxbrlfiling.htm XBRL Filing


Registration No. 333-20177

Investment Company Act No. 811-08021


SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549


FORM N-1A


REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933        [X]


 

Pre-Effective Amendment No. ___                         [   ]


Post-Effective Amendment No. 39                        [X]



REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [X]


Amendment No. 43                                              [X]



AZZAD FUNDS

(Exact Name of Registrant as Specified in Declaration of Trust)


3141 Fairview Park Drive, Suite 355

Falls Church, VA 22042

(Address of Principal Executive Offices) (Zip Code)


Registrant's Telephone Number, Including Area Code: (703) 207-7005


Bashar Qasem

3141 Fairview Park Drive

Suite 355

Falls Church, VA 22042

(Name and Address of Agent for Service)


with copies to:

Thompson Hine LLP

Mr. Donald S. Mendelsohn

312 Walnut Street

Cincinnati, OH 45202


It is proposed that this filing will become effective (check appropriate box):


[X]  immediately  upon filing pursuant to paragraph (b)

[  ]  on (date) pursuant to paragraph(b)

[  ]  60 days after filing pursuant to paragraph (a)(1)

[  ]  on (date) pursuant to paragraph (a)(1)

[  ]  75 days after filing pursuant to paragraph (a)(2)

[  ]  on (date) pursuant to paragraph (a)(2) of Rule 485.


SIGNATURES



Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Falls Church, State of Virginia, on November 6, 2018.



AZZAD FUNDS


By: /s/ Bashar Qasem

Bashar Qasem, President


Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date indicated.



SIGNATURE

TITLE

DATE



/s/________________________    

Trustee, Treasurer (Principal Financial Officer) and

Bashar Qasem

President (Principal Executive Officer)

November  6, 2018



/s/ Syed K. Raheemullah*

 

Trustee

November 6, 2018

Syed K. Raheemullah



/s/ Abed Awad*

 

Trustee

November 6, 2018

Abed Awad


*By:  

/s/ Bashar Qasem
Bashar Qasem

Attorney-in-Fact (Pursuant to a Power of Attorney filed Post-Effective Amendment No. 28 to the Registrant’s registration statement, filed electronically on October 23, 2015.)


Exhibit Index


Index No.

Description of Exhibit

EX-101.INS

XBRL Instance Document

EX-101.SCH

XBRL Taxonomy Extension Schema Document

EX-101.DEF

XBRL Taxonomy Extension Definition Linkbase

EX-101.LAB

XBRL Taxonomy Extension Labels Linkbase

EX-101.PRE

XBRL Taxonomy Extension Presentation Linkbase




EX-101.INS 2 adjex-20181022.xml 0001031008 2018-10-22 2018-10-22 0001031008 adjex:S000004763Member 2018-10-22 2018-10-22 0001031008 adjex:S000004763Member adjex:RussellMember 2018-10-22 2018-10-22 0001031008 adjex:S000004763Member adjex:C000012956Member 2018-10-22 2018-10-22 0001031008 adjex:S000004763Member adjex:C000012956Member rr:AfterTaxesOnDistributionsMember 2018-10-22 2018-10-22 0001031008 adjex:S000004763Member adjex:C000012956Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-10-22 2018-10-22 0001031008 adjex:S000022554Member 2018-10-22 2018-10-22 0001031008 adjex:S000022554Member adjex:ICEMember 2018-10-22 2018-10-22 0001031008 adjex:S000022554Member adjex:C000065234Member 2018-10-22 2018-10-22 0001031008 adjex:S000022554Member adjex:C000065234Member rr:AfterTaxesOnDistributionsMember 2018-10-22 2018-10-22 0001031008 adjex:S000022554Member adjex:C000065234Member rr:AfterTaxesOnDistributionsAndSalesMember 2018-10-22 2018-10-22 iso4217:USD xbrli:pure 485BPOS 2018-06-30 AZZAD FUNDS 0001031008 false adjex 2018-10-22 2018-11-01 2018-11-01 -0.0200 -0.0200 0.0080 0.0119 0.0015 0.0005 0.0020 0.0020 0.0115 0.0144 -0.0016 -0.0015 0.0099 0.0129 101 131 315 409 547 708 1318 1652 -0.4338 0.5375 0.2384 0.0041 0.0209 0.0093 0.0774 0.0507 0.3636 0.0192 0.0642 0.0279 -0.0584 -0.0011 0.0248 0.0138 0.2322 0.0268 0.2527 0.2322 0.1941 0.1630 0.0086 0.0268 0.0219 0.0151 0.1531 0.1153 0.0963 0.0888 0.0086 0.0173 0.0125 0.0110 0.0910 0.0742 0.0628 0.0577 0.0119 0.0194 0.0143 0.0128 0.2883 0.4014 <p style="margin: 0">You could lose money by investing in this Fund.</p> <p style="margin: 0">You could lose money by investing in this Fund.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of its future performance.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of its future performance.</p> <p style="margin: 0">888-350-3369</p> <p style="margin: 0">888-350-3369</p> <p style="margin: 0">Best Quarter</p> <p style="margin: 0">Best Quarter</p> <p style="margin: 0">Worst Quarter</p> <p style="margin: 0">Worst Quarter</p> 2009-06-30 2010-09-30 2008-12-31 2010-06-30 0.2372 0.0193 -0.2523 -0.0166 <p style="margin: 0">After tax returns are calculated using the highest historical individual federal marginal income tax rates</p> <p style="margin: 0">After tax returns are calculated using the highest historical individual federal marginal income tax rates</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Azzad Ethical Fund&#8217;s investment objective is to provide shareholders with long-term total returns using means that are consistent with the Adviser&#8217;s ethical principles.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Azzad Wise Capital Fund&#8217;s investment objective is to provide shareholders with capital preservation and income.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 28.83% of the average value of its portfolio.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). Higher turnover rates may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 40.14% of the average value of its portfolio.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i></i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Under normal market conditions, the Fund will invest in securities of mid-capitalization companies included in the Russell Midcap Growth Index (the &#8220;Index&#8221;) at the time of purchase. The companies in the Index will be screened for companies that comply with the Fund&#8217;s ethical investment restrictions, and those companies that fail to meet these criteria will be removed. The remaining companies will then be subject to the sub-adviser&#8217;s quantitative model to select the securities for the Fund&#8217;s portfolio. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in securities meeting the Fund&#8217;s ethical investment criteria.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund seeks total return, which includes income from dividends and capital appreciation of portfolio securities held by the Fund.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Index includes domestic, mid-cap companies whose earnings are expected to grow at an above-average rate relative to the market. It is a subset of the Russell Midcap Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. As of September 30, 2018, the average market cap of the Russell Midcap Growth Index was approximately $16.09 billion. The size of the companies in an index changes with market conditions and the composition of the index.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund&#8217;s sub-adviser, Ziegler Capital Management, LLC (&#8220;ZCM&#8221;) will seek to achieve the Fund&#8217;s objective by incorporating its proprietary, quantitative model of historical valuation, growth, profitability and other factors to identify stocks that may have the potential to provide a higher total return than that of the Index. Generally, ZCM will attempt to overweight stocks with positive characteristics identified by its quantitative model (higher cash flow return on investment &#8220;CFROI&#8221; profitability measures, higher/more stable profitability, higher/more profitable sales growth, positive price momentum, relative low price/earnings measures) and underweight (or avoid altogether) stocks with negative characteristics (lower CFROI profitability measures, declining/volatile profitability, lower/more volatile sales growth, declining price momentum, relative high price/earnings measures). Using various optimization techniques, ZCM will construct a portfolio that is designed to closely track the risk profile of the Index (e.g. beta, size, volatility). Although the Fund will not hold all the stocks in the Index, ZCM expects that there will be a close correlation between the performance of the Fund and that of the Index in both rising and falling markets.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund may also invest in real estate-related securities including real estate investment trusts (&#8220;REITS&#8221;) when such securities are included in the Index.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">ZCM will decide which securities to purchase for the Fund. ZCM will sell a security if it falls out of compliance with the Fund&#8217;s ethical investment restrictions. The Fund&#8217;s Adviser evaluates whether a security continues to meet the Fund&#8217;s ethical investment restrictions on a quarterly basis, and, if the Adviser believes a security no longer meets the Fund&#8217;s ethical investment restrictions, ZCM will be instructed to sell such security. ZCM may also sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others. ZCM will also sell securities that are removed from the Index.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">If ZCM&#8217;s strategies do not work as intended, the Fund may not achieve its objective.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">ZCM evaluates companies by combining a proprietary quantitative model that scores stocks with a fundamental evaluation that confirms the attractiveness of the top-scoring stocks. This multi-factor model uses cash flow analysis to identify stocks that are trading at or below their fair market value. ZCM believes that inflation adjusted returns and cash flow analysis provide the most accurate measure of a company&#8217;s value.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">To take advantage of market inefficiencies, the Fund may be actively traded. During these periods, the Fund may have a higher turnover rate.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Ethical Investment Restrictions</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency).</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies than diversified funds, exposing it to more volatility and/or market risk than diversified funds.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Azzad Wise Capital Fund invests primarily in fixed income securities issued for payment by international financial institutions, foreign governments, and agencies of foreign governments in transactions structured to be compliant with the Fund&#8217;s ethical investment guidelines. Examples of fixed income securities in which the Fund invests include sukuk and wakala. Sukuk are asset-based securities used to finance projects and asset acquisitions while avoiding the Islamic prohibition on interest.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Whereas bonds represent a debt ownership, a sukuk certificate represents ownership or interest in a tangible asset, or the usufruct of an asset. Sukuk grant investors a proportionate beneficial ownership of the underlying asset, along with its associated risks and potential cash flows. Wakala accounts are operated under the Islamic finance principle of wakala (an agency agreement). With wakala, a bank, as agent, raises funds to invest in various commercial activities from its investors. The bank and its investors both share in the profit and risk of loss of investment in such activities.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund anticipates approximately 80% of the Fund&#8217;s fixed income securities will be investment grade at the time of purchase, based upon the credit ratings given by one or more nationally recognized statistical rating organizations (NRSROs).&#160; Approximately 20% of the Fund&#8217;s fixed income securities may be below investment grade (but not lower than a B rating by Moody&#8217;s or an equivalent NRSRO). The Fund may also invest in unrated securities (securities that are not rated by a rating agency) if the Fund determines that the securities are of comparable quality to rated securities that the Fund may purchase.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund will invest up to 10% of its net assets (at the time of purchase) in domestic and international common stocks of any market capitalization, including emerging market securities. The Adviser will emphasize dividend-paying stocks issued by companies with strong fundamentals and relatively limited anticipated volatility to supplement its fixed-income holdings.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund may invest in short-term income producing investments such as money market accounts and certificates of deposit that are following its ethical guidelines.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund may invest up to 15% of its net assets in illiquid securities as defined by the Investment Company Act of 1940, which may include investments in trade finance securities. Generally, these securities evidence transactions where there is a flow of goods or services (typically of a cross-border nature) and a financing need. These trade finance structures are subject to significant individual variation. The Fund&#8217;s trade finance investments are expected to consist primarily of loans, or similar instruments used to finance international trade and related infrastructure projects. These are expected to include, but not be limited to, facilities for pre-export finance, process and commodities finance, receivables financing, letters of credit and other documentary credits, promissory notes, bills of exchange, and other negotiable instruments. The Fund may engage in such investments by way of purchase, assignment, participation, guarantee, insurance, or any other appropriate financial instrument.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund may use derivatives instruments, such as profit rate swaps, to develop its investment strategy. In a profit rate swap, two parties enter into a series of separate contracts. The Islamic profit rate swap allows two parties to exchange a series of profit payments in a single currency in exchange for another series of payments in the same currency. For example, it allows for the exchange of profit rate cash flows between a fixed rate party and a floating rate party (or vice versa) implemented through the execution of a series of underlying contracts to trade certain assets under the Shariah principles of Murabaha. The profit rate cash flows are calculated on a notional principal amount, at specified intervals during the life of the agreement. To secure the Fund's obligations regarding its derivative positions, the Fund must pledge collateral as security to the broker. This pledged collateral is segregated and maintained with the Fund's custodian.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund may also invest in fixed income securities issued in transactions where the Fund purchases (in the commodities markets) warrants (that is, certificates giving the holder the right to buy specific amounts of a commodity at a specific time) for commodities such as metals from a party other than the counterparty, and nearly simultaneously sells to a counterparty the underlying commodities in exchange for a note payable by the counterparty providing a fixed return that is due in a fixed amount of time following the transaction. Most of these counterparties are foreign banks and some of these issuers may be in emerging markets. However, the assets are not pledged as security for the certificates, and the Fund is relying on the creditworthiness of the issuer for all payments required by the certificates. There is also no assurance that the issuers of these types of certificates will be able to make such payments.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The essence of the Fund&#8217;s strategy is to provide shareholders with a return that is comparable to the return on bank accounts, certificates of deposit, and other similar fixed income products. The Fund concentrates its investments in the financial services industry. The Fund anticipates that the maturity of the securities in the portfolio will range from one to fifteen years and that the average duration of the portfolio will range from one to three years. While the Fund generally purchases securities at the lower end of this maturity range, the Fund may purchase securities with maturities at the longer end of this range when the Adviser determines that they offer an attractive return or to lengthen the average duration of the Fund.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund&#8217;s sub-adviser, Federated Investment Management Company (&#8220;Federated&#8221;), directs the investment of most of the Fund&#8217;s assets, furnishing investment information, advice, and recommendations to the Fund as to the acquisition, holding, or disposition of securities or other assets that the Fund may own or contemplate acquiring from time to time. The Adviser will oversee Federated and be responsible for the day-to-day portfolio management of the Fund related to the dividend-yielding equity portion of the Fund&#8217;s portfolio and for ensuring that the Fund&#8217;s holdings and portfolio management complies with its ethical investment restrictions.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Federated will sell a security if it falls out of compliance with the Fund&#8217;s ethical investment restrictions upon the Adviser&#8217;s instructions. In addition, a security may be sold when Federated believes it is showing deteriorating technical and fundamental indicators, due to sector rotations or geographical reallocations, or to manage concentration risk.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Ethical Investment Restrictions</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt, or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency). The Fund will, however, be able to invest in instruments that provide a fixed rate of return in transactions that are structured to be compliant with the Fund&#8217;s ethical investment restrictions such as sukuk, certificates of deposit, bank notes, and short-term bank deposits.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties than diversified funds exposing it to more volatility and/or market risk than diversified funds.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Although the Adviser makes every effort to achieve the Fund&#8217;s objective, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Medium-capitalization stocks held by the Fund could fall out of favor and returns would subsequently trail returns from the overall stock market. The performance of such stocks also could be more volatile than large-capitalization stocks. Medium-cap companies are more likely to have more limited product lines, fewer capital resources and less depth of management than larger companies.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Growth stocks can react differently to issuer, political, market, and economic developments than the market, and other types of stocks. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Investing primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies typically have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Sub-adviser&#8217;s quantitative model may not sufficiently allow for existing or unforeseen market factors or the interplay between such factors. Funds that are managed according to a quantitative investment model can perform differently from the market based on the investment model and the factors used in the analysis, the weight placed on each factor, and changes from the factors&#8217; historical trends. Issues in the construction and implementation of the investment models (including, for example, data problems and/or software issues) may create errors or limitations that might go undetected or are discovered only after the errors or limitations have negatively impacted performance. There is no guarantee that the use of these investment models will result in effective investment decisions for the Fund.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company&#8217;s financial condition, on overall market and economic conditions and on investors&#8217; perception of a company&#8217;s soundness. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies exposing it to more volatility and/or market risk than diversified funds. The Fund also generally avoids companies in certain economic sectors, and its performance may suffer if these sectors outperform the overall stock market.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund&#8217;s ethical investment restrictions do not allow investing in certain businesses, and there are broad limitations upon the types of securities or other instruments in which the Fund may invest, as well as upon commonly used investment techniques. As a result, the Fund will not be able to participate in strong performance from those businesses and may not be able to earn income comparable to other funds from non-invested assets.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The value of the Fund&#8217;s investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs. Shareholders of the Fund will indirectly be subject to the fees and expenses of the individual REITs in which the Fund invests.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund is subject to management risk because it is an actively managed portfolio. The Adviser&#8217;s management practices and investment strategies might not produce the desired results. The Adviser may be incorrect in its assessment of a stock&#8217;s appreciation or depreciation potential.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">You should consider investing in the Fund if you are looking for long-term total return and are willing to accept the associated risks.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Although the Adviser makes every effort to achieve the Fund&#8217;s objective of capital preservation and income, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund invests in fixed income securities, which are subject to credit risk. Credit risk includes issuer credit risk, which is the risk that payments will not be paid when due in accordance with their terms. Such non-payment or default may reduce the value of the Fund&#8217;s portfolio holdings, its share price, and its performance. The counterparty issuing the securities may not be able to pay the securities when due or otherwise fulfill their contractual obligations, which could reduce the value of the Fund&#8217;s portfolio holdings, its share price, and its performance.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>A rise in prevailing interest rates generally will cause the price of a fixed-rate debt security to fall. Generally, the longer the duration or maturity of a security or weighted average maturity of the Fund, the more sensitive its price is to a rise in interest rates. Recent and potential future changes in government monetary policy are likely to affect the level of interest rates.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Sukuk involve many of the same risks that conventional bonds incur such as credit and counterparty risk, interest rate, maturity, and investment grade securities risk. In addition to these risks, there are certain risks specific to sukuk. These include various operational risks including default risk, a lack of institutional support, and risks related to the underlying assets. The sukuk markets are in their infancy and most sukuk trading is restricted to the primary markets. Unlike conventional bonds, sukuk tend to be held until maturity; thus, they are traded less frequently compared to conventional bonds.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Investments in below investment-grade fixed-income securities may subject the Fund to greater risks than other securities, including being subject to greater levels of interest rate risk, credit risk (including a greater risk of default), and liquidity risk. The ability of the issuer to make payments is predominantly speculative for below investment-grade fixed income securities.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund may invest in profit-rate swaps, which are derivative contracts. Derivative contracts involve risks different from, and possibly greater than, risks associated with investing directly in securities and other traditional investments. These risks may include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Derivative contracts may also involve other risks described in this Prospectus or the Fund&#8217;s Statement of Additional Information (SAI), such as interest rate, credit, currency, liquidity, and leverage risks.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>To secure its obligations relating to derivative contracts, the Fund will either own the underlying assets, enter into offsetting transactions, or set aside cash or readily marketable securities. This requirement may cause the Fund to miss favorable trading opportunities, due to a lack of sufficient cash or readily marketable securities. This requirement may also cause the Fund to realize losses on offsetting or terminated derivative contracts or special transactions.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund invests in trade finance securities located primarily in or having exposure to global emerging markets. As such, the Fund is subject to all the risks typical to investments generally made in emerging markets. In addition, the Fund is subject to risks specific to the trade finance asset class such as liquidity risk, credit rating risk, and counter-party risk.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>When the Fund invests in wakala, it will be subject to the credit risk of the bank acting as agent, and the risk that the bank will not manage the investment in a profitable manner.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company&#8217;s financial condition, on overall market, and economic conditions and on investors&#8217; perception of a company&#8217;s soundness.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties exposing it to more volatility and/or market risk than diversified funds. In addition, the Fund invests a significant portion of its assets in companies within the financial services sector and its performance may suffer if this sector underperforms the overall stock market.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Individual securities or other holdings in the Fund may not perform as expected, and the Fund&#8217;s portfolio management practices may not achieve the desired result.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Investing in foreign securities involves risks not typically associated with U.S. investments, including, among others, adverse fluctuations in foreign currency values as well as adverse political, social, and economic developments affecting a foreign country, less publicly available information, more volatile or less liquid securities markets, restrictions on receiving the investment proceeds from a foreign country, foreign tax laws, potential difficulties in enforcing contractual obligations, less revealing accounting practices, inadequate or irregular regulation, and more volatile performance. Foreign financial markets may also have fewer investor protections. Foreign companies may also receive less coverage than U.S. companies by market analysts and the financial press. These factors may prevent the Fund and its Adviser from obtaining information concerning foreign companies that is as frequent, extensive, and reliable as the information available concerning companies in the United States. There is also the risk of confiscation, taxation, currency blockage, or political or social instability.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Securities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates or currency controls imposed by foreign governments. When the U.S. dollar strengthens relative to a foreign currency, the U.S. dollar value of an investment denominated in that currency will typically fall. Investing in currencies or securities denominated in a foreign currency, entails risk of being exposed to a currency that may not fully reflect the strengths and weaknesses of the economy of the country or region utilizing the currency. In addition, it is possible that a currency (such as, for example, the euro) could be abandoned in the future by countries that have already adopted its use, and the effects of such an abandonment on the applicable country and the rest of the countries utilizing the currency are uncertain but could negatively affect the Fund&#8217;s investments denominated in the currency.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund will concentrate its investments in the financial services industry. Adverse developments affecting a security in the financial services industry may affect all securities in that industry, and any negative developments affecting that industry will have a greater impact on the Fund than a fund that is not concentrated in that industry. &#160;Further, because the Fund&#8217;s investments are concentrated in securities issued by a limited number of counterparties, all of which share a single industry, the Fund is even more susceptible to any single negative economic, technological, political, or regulatory occurrence that impacts the financial services industry than a fund that does not concentrate.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>Investments in emerging market securities impose risks different from, or greater than, risks of investing in foreign developed countries, including: smaller market capitalization; significant price volatility; and restrictions on foreign investment. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, and confiscatory taxation, or, in certain instances, reversion to closed market, centrally planned economies. Emerging market economies may also experience more severe downturns. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by a Fund. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund&#8217;s investment in securities issued by foreign governments and agencies of foreign governments (sovereign debt) differs from debt obligations issued by private entities in that, generally, remedies for defaults must be pursued in the courts of the defaulting party. Legal recourse is therefore limited. The foreign sovereign debt securities the Fund purchases involve specific risk, including that (i) the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or interest when it becomes due because of political constraints, cash flow problems, and other national economic factors; (ii) governments may default on their sovereign debt, which may require holders of such sovereign debt to participate in debt rescheduling or additional lending to defaulting governments; and (iii) there are no bankruptcy proceedings by which defaulted sovereign debt may be collected in whole or in part.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund&#8217;s ethical investment restrictions will narrow the availability of investment opportunities in which it can invest. It is possible that the restrictions placed on investments may cause the Fund to underperform compared to other funds that do not place such restrictions on their investments.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Wingdings">v</font></td><td>The Fund may invest up to 15% of its net assets in securities considered to be illiquid as defined by the Investment Company Act of 1940. These can include certificates issued by foreign banks, trade finance, sukuk, and wakala. As a result, if the Fund receives a large amount of redemptions, the Fund may be forced to sell such illiquid investments at a significant loss to be able to meet such redemption requests.</td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">You should consider investing in the Fund if you are looking for capital preservation and income and are willing to accept the associated risks.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following bar chart and table provides some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for a calendar 1-year, 5-year and 10-year period compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of its future performance.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year and by showing how the Fund&#8217;s average annual returns for a calendar 1-year, 5 -year and for the life of the Fund compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of its future performance.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">For the period 01-01-2018 through 09-30-2018 the total return for the Fund was 12.84%</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Best Quarter: 6-30-2009 23.72%</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Worst Quarter: 12-31-2008 -25.23%</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund&#8217;s inception date was December 22, 2000</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">For the period from 1-1-2018 through 9-30-2018, the total return for the Fund was 0.71%</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Best Quarter: ended 9-30-2010 1.93%</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Worst Quarter: ended 6-30-2010 -1.66%</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund&#8217;s inception date was April 6, 2010</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.</p> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact adjex_S000004763Member ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact adjex_S000022554Member ~</div> The Fund's Adviser has agreed to contractually waive all or a portion of its fees and/or reimburse the Fund for certain operating expenses, to the extent necessary to limit the fund's net annual operating expenses (excluding brokerage costs; borrowing costs, including without limitation dividends on securities sold short; taxes; indirect expenses, such as expenses incurred by other investment companies in which the Fund invests; and litigation and other extraordinary expenses) to 0.99% of average daily net assets through December 1, 2023. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years from the time the fees were waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. These agreements may be terminated only by the Fund's Board of Trustees. The Fund's Adviser has agreed to contractually waive all or a portion of its fees and/or reimburse the Fund for certain operating expenses, to the extent necessary to limit the fund's net annual operating expenses (excluding brokerage costs; borrowing costs, including without limitation dividends on securities sold short; taxes; indirect expenses, such as expenses incurred by other investment companies in which the Fund invests; and litigation and other extraordinary expenses) to 1.29% of average daily net assets through December 1, 2023. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years from the time the fees were waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. These agreements may be terminated only by the Fund's Board of Trustees. EX-101.SCH 3 adjex-20181022.xsd 00000003 - Document - Azzad Ethical Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink 00000004 - Document - Azzad Wise Capital Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink EX-101.DEF 4 adjex-20181022_def.xml EX-101.LAB 5 adjex-20181022_lab.xml Legal Entity [Axis] Azzad Ethical Fund Performance Measure [Axis] Russell MidCap Growth (reflects no deduction for fees, expenses or taxes) Share Class [Axis] Azzad Ethical Fund After Taxes on Distributions After Taxes on Distributions and Sales Azzad Wise Capital Fund ICE BofA ML US Corp Govt 1-3 Yr Index (reflects no deduction for fees, expenses or taxes) Azzad Wise Capital Fund Prospectus: [Table] Prospectus [Line Items] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] Expense Example, With Redemption [Table] Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption [Table] Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Bar Chart Narrative [Text Block] Bar Chart [Heading] Bar Chart [Table] Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Risk/Return [Heading] Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a % of amount redeemed within 90 days) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses Column [Text] Management Fees Distribution and/or Service (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other Expenses Acquired Fund Fees and Expenses Total Annual Fund Operating Expenses Fee Waiver / Expense Reimbursement Total Annual Fund Operating Expenses after fee Waiver and/or Expense Reimbursement Expense Example, By Year, Column [Text] One Year Three Years Five Years Ten Years Expense Example, No Redemption, By Year, Column [Text] Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Label 1 Year 5 Years 10 Years Since Inception Inception Date Risk/Return Detail [Table] Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Redemption Fee (as a % of amount redeemed within 90 days) Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Caption Column Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield C000012956Member C000065234Member EX-101.PRE 6 adjex-20181022_pre.xml GRAPHIC 7 BarChart1.png IDEA: XBRL DOCUMENT begin 644 BarChart1.png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htm IDEA: XBRL DOCUMENT v3.10.0.1
Azzad Ethical Fund
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p>

Azzad Ethical Fund’s investment objective is to provide shareholders with long-term total returns using means that are consistent with the Adviser’s ethical principles.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p>

The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p>
Shareholder Fees
Azzad Ethical Fund
Redemption Fee (as a % of amount redeemed within 90 days) 2.00%
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p>
Annual Fund Operating Expenses
Azzad Ethical Fund
Management Fees 0.80%
Distribution and/or Service (12b-1) Fees 0.15%
Other Expenses 0.20%
Total Annual Fund Operating Expenses 1.15%
Fee Waiver / Expense Reimbursement (0.16%) [1]
Total Annual Fund Operating Expenses after fee Waiver and/or Expense Reimbursement 0.99%
[1] The Fund's Adviser has agreed to contractually waive all or a portion of its fees and/or reimburse the Fund for certain operating expenses, to the extent necessary to limit the fund's net annual operating expenses (excluding brokerage costs; borrowing costs, including without limitation dividends on securities sold short; taxes; indirect expenses, such as expenses incurred by other investment companies in which the Fund invests; and litigation and other extraordinary expenses) to 0.99% of average daily net assets through December 1, 2023. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years from the time the fees were waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. These agreements may be terminated only by the Fund's Board of Trustees.
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p>

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example
One Year
Three Years
Five Years
Ten Years
Azzad Ethical Fund | USD ($) 101 315 547 1,318
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 28.83% of the average value of its portfolio.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p>

Under normal market conditions, the Fund will invest in securities of mid-capitalization companies included in the Russell Midcap Growth Index (the “Index”) at the time of purchase. The companies in the Index will be screened for companies that comply with the Fund’s ethical investment restrictions, and those companies that fail to meet these criteria will be removed. The remaining companies will then be subject to the sub-adviser’s quantitative model to select the securities for the Fund’s portfolio. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in securities meeting the Fund’s ethical investment criteria.

 

The Fund seeks total return, which includes income from dividends and capital appreciation of portfolio securities held by the Fund.

 

The Index includes domestic, mid-cap companies whose earnings are expected to grow at an above-average rate relative to the market. It is a subset of the Russell Midcap Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. As of September 30, 2018, the average market cap of the Russell Midcap Growth Index was approximately $16.09 billion. The size of the companies in an index changes with market conditions and the composition of the index.

 

The Fund’s sub-adviser, Ziegler Capital Management, LLC (“ZCM”) will seek to achieve the Fund’s objective by incorporating its proprietary, quantitative model of historical valuation, growth, profitability and other factors to identify stocks that may have the potential to provide a higher total return than that of the Index. Generally, ZCM will attempt to overweight stocks with positive characteristics identified by its quantitative model (higher cash flow return on investment “CFROI” profitability measures, higher/more stable profitability, higher/more profitable sales growth, positive price momentum, relative low price/earnings measures) and underweight (or avoid altogether) stocks with negative characteristics (lower CFROI profitability measures, declining/volatile profitability, lower/more volatile sales growth, declining price momentum, relative high price/earnings measures). Using various optimization techniques, ZCM will construct a portfolio that is designed to closely track the risk profile of the Index (e.g. beta, size, volatility). Although the Fund will not hold all the stocks in the Index, ZCM expects that there will be a close correlation between the performance of the Fund and that of the Index in both rising and falling markets.

 

The Fund may also invest in real estate-related securities including real estate investment trusts (“REITS”) when such securities are included in the Index.

 

ZCM will decide which securities to purchase for the Fund. ZCM will sell a security if it falls out of compliance with the Fund’s ethical investment restrictions. The Fund’s Adviser evaluates whether a security continues to meet the Fund’s ethical investment restrictions on a quarterly basis, and, if the Adviser believes a security no longer meets the Fund’s ethical investment restrictions, ZCM will be instructed to sell such security. ZCM may also sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others. ZCM will also sell securities that are removed from the Index.

 

If ZCM’s strategies do not work as intended, the Fund may not achieve its objective.

 

ZCM evaluates companies by combining a proprietary quantitative model that scores stocks with a fundamental evaluation that confirms the attractiveness of the top-scoring stocks. This multi-factor model uses cash flow analysis to identify stocks that are trading at or below their fair market value. ZCM believes that inflation adjusted returns and cash flow analysis provide the most accurate measure of a company’s value.

 

To take advantage of market inefficiencies, the Fund may be actively traded. During these periods, the Fund may have a higher turnover rate.

 

Ethical Investment Restrictions

The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.

 

The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency).

 

The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies than diversified funds, exposing it to more volatility and/or market risk than diversified funds.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p>

Although the Adviser makes every effort to achieve the Fund’s objective, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:

 

vMedium-capitalization stocks held by the Fund could fall out of favor and returns would subsequently trail returns from the overall stock market. The performance of such stocks also could be more volatile than large-capitalization stocks. Medium-cap companies are more likely to have more limited product lines, fewer capital resources and less depth of management than larger companies.

 

vGrowth stocks can react differently to issuer, political, market, and economic developments than the market, and other types of stocks. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

 

vInvesting primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies typically have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies.

 

vThe Sub-adviser’s quantitative model may not sufficiently allow for existing or unforeseen market factors or the interplay between such factors. Funds that are managed according to a quantitative investment model can perform differently from the market based on the investment model and the factors used in the analysis, the weight placed on each factor, and changes from the factors’ historical trends. Issues in the construction and implementation of the investment models (including, for example, data problems and/or software issues) may create errors or limitations that might go undetected or are discovered only after the errors or limitations have negatively impacted performance. There is no guarantee that the use of these investment models will result in effective investment decisions for the Fund.

 

vThe stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company’s financial condition, on overall market and economic conditions and on investors’ perception of a company’s soundness. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

 

vThe Fund is non-diversified and may invest a larger percentage of its assets in fewer companies exposing it to more volatility and/or market risk than diversified funds. The Fund also generally avoids companies in certain economic sectors, and its performance may suffer if these sectors outperform the overall stock market.

 

vThe Fund’s ethical investment restrictions do not allow investing in certain businesses, and there are broad limitations upon the types of securities or other instruments in which the Fund may invest, as well as upon commonly used investment techniques. As a result, the Fund will not be able to participate in strong performance from those businesses and may not be able to earn income comparable to other funds from non-invested assets.

 

vThe value of the Fund’s investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs. Shareholders of the Fund will indirectly be subject to the fees and expenses of the individual REITs in which the Fund invests.

 

vThe Fund is subject to management risk because it is an actively managed portfolio. The Adviser’s management practices and investment strategies might not produce the desired results. The Adviser may be incorrect in its assessment of a stock’s appreciation or depreciation potential.

 

You should consider investing in the Fund if you are looking for long-term total return and are willing to accept the associated risks.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p>

The following bar chart and table provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns for a calendar 1-year, 5-year and 10-year period compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p>
Bar Chart

For the period 01-01-2018 through 09-30-2018 the total return for the Fund was 12.84%

 

Best Quarter: 6-30-2009 23.72%

Worst Quarter: 12-31-2008 -25.23%

 

The Fund’s inception date was December 22, 2000

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p>
Average Annual Total Returns - Azzad Ethical Fund
1 Year
5 Years
10 Years
Azzad Ethical Fund 23.22% 11.53% 7.42%
Azzad Ethical Fund | After Taxes on Distributions 19.41% 9.63% 6.28%
Azzad Ethical Fund | After Taxes on Distributions and Sales 16.30% 8.88% 5.77%
Russell MidCap Growth (reflects no deduction for fees, expenses or taxes) 25.27% 15.31% 9.10%

After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.

GRAPHIC 9 BarChart2.png IDEA: XBRL DOCUMENT begin 644 BarChart2.png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v3.10.0.1
Azzad Wise Capital Fund
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p>

Azzad Wise Capital Fund’s investment objective is to provide shareholders with capital preservation and income.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p>

The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p>
Shareholder Fees
Azzad Wise Capital Fund
Redemption Fee (as a % of amount redeemed within 90 days) 2.00%
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p>
Annual Fund Operating Expenses
Azzad Wise Capital Fund
Management Fees 1.19%
Distribution and/or Service (12b-1) Fees 0.05%
Other Expenses 0.20%
Total Annual Fund Operating Expenses 1.44%
Fee Waiver / Expense Reimbursement (0.15%) [1]
Total Annual Fund Operating Expenses after fee Waiver and/or Expense Reimbursement 1.29%
[1] The Fund's Adviser has agreed to contractually waive all or a portion of its fees and/or reimburse the Fund for certain operating expenses, to the extent necessary to limit the fund's net annual operating expenses (excluding brokerage costs; borrowing costs, including without limitation dividends on securities sold short; taxes; indirect expenses, such as expenses incurred by other investment companies in which the Fund invests; and litigation and other extraordinary expenses) to 1.29% of average daily net assets through December 1, 2023. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years from the time the fees were waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. These agreements may be terminated only by the Fund's Board of Trustees.
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p>

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example
One Year
Three Years
Five Years
Ten Years
Azzad Wise Capital Fund | USD ($) 131 409 708 1,652
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). Higher turnover rates may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 40.14% of the average value of its portfolio.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p>

Azzad Wise Capital Fund invests primarily in fixed income securities issued for payment by international financial institutions, foreign governments, and agencies of foreign governments in transactions structured to be compliant with the Fund’s ethical investment guidelines. Examples of fixed income securities in which the Fund invests include sukuk and wakala. Sukuk are asset-based securities used to finance projects and asset acquisitions while avoiding the Islamic prohibition on interest.

 

Whereas bonds represent a debt ownership, a sukuk certificate represents ownership or interest in a tangible asset, or the usufruct of an asset. Sukuk grant investors a proportionate beneficial ownership of the underlying asset, along with its associated risks and potential cash flows. Wakala accounts are operated under the Islamic finance principle of wakala (an agency agreement). With wakala, a bank, as agent, raises funds to invest in various commercial activities from its investors. The bank and its investors both share in the profit and risk of loss of investment in such activities.

 

The Fund anticipates approximately 80% of the Fund’s fixed income securities will be investment grade at the time of purchase, based upon the credit ratings given by one or more nationally recognized statistical rating organizations (NRSROs).  Approximately 20% of the Fund’s fixed income securities may be below investment grade (but not lower than a B rating by Moody’s or an equivalent NRSRO). The Fund may also invest in unrated securities (securities that are not rated by a rating agency) if the Fund determines that the securities are of comparable quality to rated securities that the Fund may purchase.

 

The Fund will invest up to 10% of its net assets (at the time of purchase) in domestic and international common stocks of any market capitalization, including emerging market securities. The Adviser will emphasize dividend-paying stocks issued by companies with strong fundamentals and relatively limited anticipated volatility to supplement its fixed-income holdings.

 

The Fund may invest in short-term income producing investments such as money market accounts and certificates of deposit that are following its ethical guidelines.

 

The Fund may invest up to 15% of its net assets in illiquid securities as defined by the Investment Company Act of 1940, which may include investments in trade finance securities. Generally, these securities evidence transactions where there is a flow of goods or services (typically of a cross-border nature) and a financing need. These trade finance structures are subject to significant individual variation. The Fund’s trade finance investments are expected to consist primarily of loans, or similar instruments used to finance international trade and related infrastructure projects. These are expected to include, but not be limited to, facilities for pre-export finance, process and commodities finance, receivables financing, letters of credit and other documentary credits, promissory notes, bills of exchange, and other negotiable instruments. The Fund may engage in such investments by way of purchase, assignment, participation, guarantee, insurance, or any other appropriate financial instrument.

 

The Fund may use derivatives instruments, such as profit rate swaps, to develop its investment strategy. In a profit rate swap, two parties enter into a series of separate contracts. The Islamic profit rate swap allows two parties to exchange a series of profit payments in a single currency in exchange for another series of payments in the same currency. For example, it allows for the exchange of profit rate cash flows between a fixed rate party and a floating rate party (or vice versa) implemented through the execution of a series of underlying contracts to trade certain assets under the Shariah principles of Murabaha. The profit rate cash flows are calculated on a notional principal amount, at specified intervals during the life of the agreement. To secure the Fund's obligations regarding its derivative positions, the Fund must pledge collateral as security to the broker. This pledged collateral is segregated and maintained with the Fund's custodian.

 

The Fund may also invest in fixed income securities issued in transactions where the Fund purchases (in the commodities markets) warrants (that is, certificates giving the holder the right to buy specific amounts of a commodity at a specific time) for commodities such as metals from a party other than the counterparty, and nearly simultaneously sells to a counterparty the underlying commodities in exchange for a note payable by the counterparty providing a fixed return that is due in a fixed amount of time following the transaction. Most of these counterparties are foreign banks and some of these issuers may be in emerging markets. However, the assets are not pledged as security for the certificates, and the Fund is relying on the creditworthiness of the issuer for all payments required by the certificates. There is also no assurance that the issuers of these types of certificates will be able to make such payments.

 

The essence of the Fund’s strategy is to provide shareholders with a return that is comparable to the return on bank accounts, certificates of deposit, and other similar fixed income products. The Fund concentrates its investments in the financial services industry. The Fund anticipates that the maturity of the securities in the portfolio will range from one to fifteen years and that the average duration of the portfolio will range from one to three years. While the Fund generally purchases securities at the lower end of this maturity range, the Fund may purchase securities with maturities at the longer end of this range when the Adviser determines that they offer an attractive return or to lengthen the average duration of the Fund.

 

The Fund’s sub-adviser, Federated Investment Management Company (“Federated”), directs the investment of most of the Fund’s assets, furnishing investment information, advice, and recommendations to the Fund as to the acquisition, holding, or disposition of securities or other assets that the Fund may own or contemplate acquiring from time to time. The Adviser will oversee Federated and be responsible for the day-to-day portfolio management of the Fund related to the dividend-yielding equity portion of the Fund’s portfolio and for ensuring that the Fund’s holdings and portfolio management complies with its ethical investment restrictions.

 

Federated will sell a security if it falls out of compliance with the Fund’s ethical investment restrictions upon the Adviser’s instructions. In addition, a security may be sold when Federated believes it is showing deteriorating technical and fundamental indicators, due to sector rotations or geographical reallocations, or to manage concentration risk.

 

Ethical Investment Restrictions

The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.

 

The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt, or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency). The Fund will, however, be able to invest in instruments that provide a fixed rate of return in transactions that are structured to be compliant with the Fund’s ethical investment restrictions such as sukuk, certificates of deposit, bank notes, and short-term bank deposits.

 

The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties than diversified funds exposing it to more volatility and/or market risk than diversified funds.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p>

Although the Adviser makes every effort to achieve the Fund’s objective of capital preservation and income, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:

 

vThe Fund invests in fixed income securities, which are subject to credit risk. Credit risk includes issuer credit risk, which is the risk that payments will not be paid when due in accordance with their terms. Such non-payment or default may reduce the value of the Fund’s portfolio holdings, its share price, and its performance. The counterparty issuing the securities may not be able to pay the securities when due or otherwise fulfill their contractual obligations, which could reduce the value of the Fund’s portfolio holdings, its share price, and its performance.

 

vA rise in prevailing interest rates generally will cause the price of a fixed-rate debt security to fall. Generally, the longer the duration or maturity of a security or weighted average maturity of the Fund, the more sensitive its price is to a rise in interest rates. Recent and potential future changes in government monetary policy are likely to affect the level of interest rates.

 

vSukuk involve many of the same risks that conventional bonds incur such as credit and counterparty risk, interest rate, maturity, and investment grade securities risk. In addition to these risks, there are certain risks specific to sukuk. These include various operational risks including default risk, a lack of institutional support, and risks related to the underlying assets. The sukuk markets are in their infancy and most sukuk trading is restricted to the primary markets. Unlike conventional bonds, sukuk tend to be held until maturity; thus, they are traded less frequently compared to conventional bonds.

 

vInvestments in below investment-grade fixed-income securities may subject the Fund to greater risks than other securities, including being subject to greater levels of interest rate risk, credit risk (including a greater risk of default), and liquidity risk. The ability of the issuer to make payments is predominantly speculative for below investment-grade fixed income securities.

 

vThe Fund may invest in profit-rate swaps, which are derivative contracts. Derivative contracts involve risks different from, and possibly greater than, risks associated with investing directly in securities and other traditional investments. These risks may include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Derivative contracts may also involve other risks described in this Prospectus or the Fund’s Statement of Additional Information (SAI), such as interest rate, credit, currency, liquidity, and leverage risks.

 

vTo secure its obligations relating to derivative contracts, the Fund will either own the underlying assets, enter into offsetting transactions, or set aside cash or readily marketable securities. This requirement may cause the Fund to miss favorable trading opportunities, due to a lack of sufficient cash or readily marketable securities. This requirement may also cause the Fund to realize losses on offsetting or terminated derivative contracts or special transactions.

 

vThe Fund invests in trade finance securities located primarily in or having exposure to global emerging markets. As such, the Fund is subject to all the risks typical to investments generally made in emerging markets. In addition, the Fund is subject to risks specific to the trade finance asset class such as liquidity risk, credit rating risk, and counter-party risk.

 

vWhen the Fund invests in wakala, it will be subject to the credit risk of the bank acting as agent, and the risk that the bank will not manage the investment in a profitable manner.

 

vThe stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company’s financial condition, on overall market, and economic conditions and on investors’ perception of a company’s soundness.

 

vThe Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties exposing it to more volatility and/or market risk than diversified funds. In addition, the Fund invests a significant portion of its assets in companies within the financial services sector and its performance may suffer if this sector underperforms the overall stock market.

 

vIndividual securities or other holdings in the Fund may not perform as expected, and the Fund’s portfolio management practices may not achieve the desired result.

 

vInvesting in foreign securities involves risks not typically associated with U.S. investments, including, among others, adverse fluctuations in foreign currency values as well as adverse political, social, and economic developments affecting a foreign country, less publicly available information, more volatile or less liquid securities markets, restrictions on receiving the investment proceeds from a foreign country, foreign tax laws, potential difficulties in enforcing contractual obligations, less revealing accounting practices, inadequate or irregular regulation, and more volatile performance. Foreign financial markets may also have fewer investor protections. Foreign companies may also receive less coverage than U.S. companies by market analysts and the financial press. These factors may prevent the Fund and its Adviser from obtaining information concerning foreign companies that is as frequent, extensive, and reliable as the information available concerning companies in the United States. There is also the risk of confiscation, taxation, currency blockage, or political or social instability.

 

vSecurities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates or currency controls imposed by foreign governments. When the U.S. dollar strengthens relative to a foreign currency, the U.S. dollar value of an investment denominated in that currency will typically fall. Investing in currencies or securities denominated in a foreign currency, entails risk of being exposed to a currency that may not fully reflect the strengths and weaknesses of the economy of the country or region utilizing the currency. In addition, it is possible that a currency (such as, for example, the euro) could be abandoned in the future by countries that have already adopted its use, and the effects of such an abandonment on the applicable country and the rest of the countries utilizing the currency are uncertain but could negatively affect the Fund’s investments denominated in the currency.

 

vThe Fund will concentrate its investments in the financial services industry. Adverse developments affecting a security in the financial services industry may affect all securities in that industry, and any negative developments affecting that industry will have a greater impact on the Fund than a fund that is not concentrated in that industry.  Further, because the Fund’s investments are concentrated in securities issued by a limited number of counterparties, all of which share a single industry, the Fund is even more susceptible to any single negative economic, technological, political, or regulatory occurrence that impacts the financial services industry than a fund that does not concentrate.

 

vInvestments in emerging market securities impose risks different from, or greater than, risks of investing in foreign developed countries, including: smaller market capitalization; significant price volatility; and restrictions on foreign investment. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, and confiscatory taxation, or, in certain instances, reversion to closed market, centrally planned economies. Emerging market economies may also experience more severe downturns. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by a Fund. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.

 

vThe Fund’s investment in securities issued by foreign governments and agencies of foreign governments (sovereign debt) differs from debt obligations issued by private entities in that, generally, remedies for defaults must be pursued in the courts of the defaulting party. Legal recourse is therefore limited. The foreign sovereign debt securities the Fund purchases involve specific risk, including that (i) the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or interest when it becomes due because of political constraints, cash flow problems, and other national economic factors; (ii) governments may default on their sovereign debt, which may require holders of such sovereign debt to participate in debt rescheduling or additional lending to defaulting governments; and (iii) there are no bankruptcy proceedings by which defaulted sovereign debt may be collected in whole or in part.

 

vThe Fund’s ethical investment restrictions will narrow the availability of investment opportunities in which it can invest. It is possible that the restrictions placed on investments may cause the Fund to underperform compared to other funds that do not place such restrictions on their investments.

 

vThe Fund may invest up to 15% of its net assets in securities considered to be illiquid as defined by the Investment Company Act of 1940. These can include certificates issued by foreign banks, trade finance, sukuk, and wakala. As a result, if the Fund receives a large amount of redemptions, the Fund may be forced to sell such illiquid investments at a significant loss to be able to meet such redemption requests.

 

You should consider investing in the Fund if you are looking for capital preservation and income and are willing to accept the associated risks.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p>

The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns for a calendar 1-year, 5 -year and for the life of the Fund compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p>
Bar Chart

For the period from 1-1-2018 through 9-30-2018, the total return for the Fund was 0.71%

 

Best Quarter: ended 9-30-2010 1.93%

Worst Quarter: ended 6-30-2010 -1.66%

 

The Fund’s inception date was April 6, 2010

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p>
Average Annual Total Returns - Azzad Wise Capital Fund
1 Year
5 Years
Since Inception
Azzad Wise Capital Fund 2.68% 1.73% 1.94%
Azzad Wise Capital Fund | After Taxes on Distributions 2.19% 1.25% 1.43%
Azzad Wise Capital Fund | After Taxes on Distributions and Sales 1.51% 1.10% 1.28%
ICE BofA ML US Corp Govt 1-3 Yr Index (reflects no deduction for fees, expenses or taxes) 0.86% 0.86% 1.19%

After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.

XML 11 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Total
Azzad Ethical Fund
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p>

Azzad Ethical Fund’s investment objective is to provide shareholders with long-term total returns using means that are consistent with the Adviser’s ethical principles.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p>

The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p>
~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p>
~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p>

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 28.83% of the average value of its portfolio.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p>

Under normal market conditions, the Fund will invest in securities of mid-capitalization companies included in the Russell Midcap Growth Index (the “Index”) at the time of purchase. The companies in the Index will be screened for companies that comply with the Fund’s ethical investment restrictions, and those companies that fail to meet these criteria will be removed. The remaining companies will then be subject to the sub-adviser’s quantitative model to select the securities for the Fund’s portfolio. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in securities meeting the Fund’s ethical investment criteria.

 

The Fund seeks total return, which includes income from dividends and capital appreciation of portfolio securities held by the Fund.

 

The Index includes domestic, mid-cap companies whose earnings are expected to grow at an above-average rate relative to the market. It is a subset of the Russell Midcap Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. As of September 30, 2018, the average market cap of the Russell Midcap Growth Index was approximately $16.09 billion. The size of the companies in an index changes with market conditions and the composition of the index.

 

The Fund’s sub-adviser, Ziegler Capital Management, LLC (“ZCM”) will seek to achieve the Fund’s objective by incorporating its proprietary, quantitative model of historical valuation, growth, profitability and other factors to identify stocks that may have the potential to provide a higher total return than that of the Index. Generally, ZCM will attempt to overweight stocks with positive characteristics identified by its quantitative model (higher cash flow return on investment “CFROI” profitability measures, higher/more stable profitability, higher/more profitable sales growth, positive price momentum, relative low price/earnings measures) and underweight (or avoid altogether) stocks with negative characteristics (lower CFROI profitability measures, declining/volatile profitability, lower/more volatile sales growth, declining price momentum, relative high price/earnings measures). Using various optimization techniques, ZCM will construct a portfolio that is designed to closely track the risk profile of the Index (e.g. beta, size, volatility). Although the Fund will not hold all the stocks in the Index, ZCM expects that there will be a close correlation between the performance of the Fund and that of the Index in both rising and falling markets.

 

The Fund may also invest in real estate-related securities including real estate investment trusts (“REITS”) when such securities are included in the Index.

 

ZCM will decide which securities to purchase for the Fund. ZCM will sell a security if it falls out of compliance with the Fund’s ethical investment restrictions. The Fund’s Adviser evaluates whether a security continues to meet the Fund’s ethical investment restrictions on a quarterly basis, and, if the Adviser believes a security no longer meets the Fund’s ethical investment restrictions, ZCM will be instructed to sell such security. ZCM may also sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others. ZCM will also sell securities that are removed from the Index.

 

If ZCM’s strategies do not work as intended, the Fund may not achieve its objective.

 

ZCM evaluates companies by combining a proprietary quantitative model that scores stocks with a fundamental evaluation that confirms the attractiveness of the top-scoring stocks. This multi-factor model uses cash flow analysis to identify stocks that are trading at or below their fair market value. ZCM believes that inflation adjusted returns and cash flow analysis provide the most accurate measure of a company’s value.

 

To take advantage of market inefficiencies, the Fund may be actively traded. During these periods, the Fund may have a higher turnover rate.

 

Ethical Investment Restrictions

The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.

 

The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency).

 

The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies than diversified funds, exposing it to more volatility and/or market risk than diversified funds.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p>

Although the Adviser makes every effort to achieve the Fund’s objective, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:

 

vMedium-capitalization stocks held by the Fund could fall out of favor and returns would subsequently trail returns from the overall stock market. The performance of such stocks also could be more volatile than large-capitalization stocks. Medium-cap companies are more likely to have more limited product lines, fewer capital resources and less depth of management than larger companies.

 

vGrowth stocks can react differently to issuer, political, market, and economic developments than the market, and other types of stocks. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

 

vInvesting primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies typically have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies.

 

vThe Sub-adviser’s quantitative model may not sufficiently allow for existing or unforeseen market factors or the interplay between such factors. Funds that are managed according to a quantitative investment model can perform differently from the market based on the investment model and the factors used in the analysis, the weight placed on each factor, and changes from the factors’ historical trends. Issues in the construction and implementation of the investment models (including, for example, data problems and/or software issues) may create errors or limitations that might go undetected or are discovered only after the errors or limitations have negatively impacted performance. There is no guarantee that the use of these investment models will result in effective investment decisions for the Fund.

 

vThe stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company’s financial condition, on overall market and economic conditions and on investors’ perception of a company’s soundness. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

 

vThe Fund is non-diversified and may invest a larger percentage of its assets in fewer companies exposing it to more volatility and/or market risk than diversified funds. The Fund also generally avoids companies in certain economic sectors, and its performance may suffer if these sectors outperform the overall stock market.

 

vThe Fund’s ethical investment restrictions do not allow investing in certain businesses, and there are broad limitations upon the types of securities or other instruments in which the Fund may invest, as well as upon commonly used investment techniques. As a result, the Fund will not be able to participate in strong performance from those businesses and may not be able to earn income comparable to other funds from non-invested assets.

 

vThe value of the Fund’s investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs. Shareholders of the Fund will indirectly be subject to the fees and expenses of the individual REITs in which the Fund invests.

 

vThe Fund is subject to management risk because it is an actively managed portfolio. The Adviser’s management practices and investment strategies might not produce the desired results. The Adviser may be incorrect in its assessment of a stock’s appreciation or depreciation potential.

 

You should consider investing in the Fund if you are looking for long-term total return and are willing to accept the associated risks.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p>

The following bar chart and table provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns for a calendar 1-year, 5-year and 10-year period compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p>
~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact adjex_S000004763Member column rr_ProspectusShareClassAxis compact * row primary compact * ~

For the period 01-01-2018 through 09-30-2018 the total return for the Fund was 12.84%

 

Best Quarter: 6-30-2009 23.72%

Worst Quarter: 12-31-2008 -25.23%

 

The Fund’s inception date was December 22, 2000

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p>
~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact adjex_S000004763Member ~

After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.

Azzad Wise Capital Fund
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p>

Azzad Wise Capital Fund’s investment objective is to provide shareholders with capital preservation and income.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p>

The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p>
~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p>
~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p>

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p>

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). Higher turnover rates may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 40.14% of the average value of its portfolio.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p>

Azzad Wise Capital Fund invests primarily in fixed income securities issued for payment by international financial institutions, foreign governments, and agencies of foreign governments in transactions structured to be compliant with the Fund’s ethical investment guidelines. Examples of fixed income securities in which the Fund invests include sukuk and wakala. Sukuk are asset-based securities used to finance projects and asset acquisitions while avoiding the Islamic prohibition on interest.

 

Whereas bonds represent a debt ownership, a sukuk certificate represents ownership or interest in a tangible asset, or the usufruct of an asset. Sukuk grant investors a proportionate beneficial ownership of the underlying asset, along with its associated risks and potential cash flows. Wakala accounts are operated under the Islamic finance principle of wakala (an agency agreement). With wakala, a bank, as agent, raises funds to invest in various commercial activities from its investors. The bank and its investors both share in the profit and risk of loss of investment in such activities.

 

The Fund anticipates approximately 80% of the Fund’s fixed income securities will be investment grade at the time of purchase, based upon the credit ratings given by one or more nationally recognized statistical rating organizations (NRSROs).  Approximately 20% of the Fund’s fixed income securities may be below investment grade (but not lower than a B rating by Moody’s or an equivalent NRSRO). The Fund may also invest in unrated securities (securities that are not rated by a rating agency) if the Fund determines that the securities are of comparable quality to rated securities that the Fund may purchase.

 

The Fund will invest up to 10% of its net assets (at the time of purchase) in domestic and international common stocks of any market capitalization, including emerging market securities. The Adviser will emphasize dividend-paying stocks issued by companies with strong fundamentals and relatively limited anticipated volatility to supplement its fixed-income holdings.

 

The Fund may invest in short-term income producing investments such as money market accounts and certificates of deposit that are following its ethical guidelines.

 

The Fund may invest up to 15% of its net assets in illiquid securities as defined by the Investment Company Act of 1940, which may include investments in trade finance securities. Generally, these securities evidence transactions where there is a flow of goods or services (typically of a cross-border nature) and a financing need. These trade finance structures are subject to significant individual variation. The Fund’s trade finance investments are expected to consist primarily of loans, or similar instruments used to finance international trade and related infrastructure projects. These are expected to include, but not be limited to, facilities for pre-export finance, process and commodities finance, receivables financing, letters of credit and other documentary credits, promissory notes, bills of exchange, and other negotiable instruments. The Fund may engage in such investments by way of purchase, assignment, participation, guarantee, insurance, or any other appropriate financial instrument.

 

The Fund may use derivatives instruments, such as profit rate swaps, to develop its investment strategy. In a profit rate swap, two parties enter into a series of separate contracts. The Islamic profit rate swap allows two parties to exchange a series of profit payments in a single currency in exchange for another series of payments in the same currency. For example, it allows for the exchange of profit rate cash flows between a fixed rate party and a floating rate party (or vice versa) implemented through the execution of a series of underlying contracts to trade certain assets under the Shariah principles of Murabaha. The profit rate cash flows are calculated on a notional principal amount, at specified intervals during the life of the agreement. To secure the Fund's obligations regarding its derivative positions, the Fund must pledge collateral as security to the broker. This pledged collateral is segregated and maintained with the Fund's custodian.

 

The Fund may also invest in fixed income securities issued in transactions where the Fund purchases (in the commodities markets) warrants (that is, certificates giving the holder the right to buy specific amounts of a commodity at a specific time) for commodities such as metals from a party other than the counterparty, and nearly simultaneously sells to a counterparty the underlying commodities in exchange for a note payable by the counterparty providing a fixed return that is due in a fixed amount of time following the transaction. Most of these counterparties are foreign banks and some of these issuers may be in emerging markets. However, the assets are not pledged as security for the certificates, and the Fund is relying on the creditworthiness of the issuer for all payments required by the certificates. There is also no assurance that the issuers of these types of certificates will be able to make such payments.

 

The essence of the Fund’s strategy is to provide shareholders with a return that is comparable to the return on bank accounts, certificates of deposit, and other similar fixed income products. The Fund concentrates its investments in the financial services industry. The Fund anticipates that the maturity of the securities in the portfolio will range from one to fifteen years and that the average duration of the portfolio will range from one to three years. While the Fund generally purchases securities at the lower end of this maturity range, the Fund may purchase securities with maturities at the longer end of this range when the Adviser determines that they offer an attractive return or to lengthen the average duration of the Fund.

 

The Fund’s sub-adviser, Federated Investment Management Company (“Federated”), directs the investment of most of the Fund’s assets, furnishing investment information, advice, and recommendations to the Fund as to the acquisition, holding, or disposition of securities or other assets that the Fund may own or contemplate acquiring from time to time. The Adviser will oversee Federated and be responsible for the day-to-day portfolio management of the Fund related to the dividend-yielding equity portion of the Fund’s portfolio and for ensuring that the Fund’s holdings and portfolio management complies with its ethical investment restrictions.

 

Federated will sell a security if it falls out of compliance with the Fund’s ethical investment restrictions upon the Adviser’s instructions. In addition, a security may be sold when Federated believes it is showing deteriorating technical and fundamental indicators, due to sector rotations or geographical reallocations, or to manage concentration risk.

 

Ethical Investment Restrictions

The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.

 

The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt, or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency). The Fund will, however, be able to invest in instruments that provide a fixed rate of return in transactions that are structured to be compliant with the Fund’s ethical investment restrictions such as sukuk, certificates of deposit, bank notes, and short-term bank deposits.

 

The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties than diversified funds exposing it to more volatility and/or market risk than diversified funds.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p>

Although the Adviser makes every effort to achieve the Fund’s objective of capital preservation and income, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:

 

vThe Fund invests in fixed income securities, which are subject to credit risk. Credit risk includes issuer credit risk, which is the risk that payments will not be paid when due in accordance with their terms. Such non-payment or default may reduce the value of the Fund’s portfolio holdings, its share price, and its performance. The counterparty issuing the securities may not be able to pay the securities when due or otherwise fulfill their contractual obligations, which could reduce the value of the Fund’s portfolio holdings, its share price, and its performance.

 

vA rise in prevailing interest rates generally will cause the price of a fixed-rate debt security to fall. Generally, the longer the duration or maturity of a security or weighted average maturity of the Fund, the more sensitive its price is to a rise in interest rates. Recent and potential future changes in government monetary policy are likely to affect the level of interest rates.

 

vSukuk involve many of the same risks that conventional bonds incur such as credit and counterparty risk, interest rate, maturity, and investment grade securities risk. In addition to these risks, there are certain risks specific to sukuk. These include various operational risks including default risk, a lack of institutional support, and risks related to the underlying assets. The sukuk markets are in their infancy and most sukuk trading is restricted to the primary markets. Unlike conventional bonds, sukuk tend to be held until maturity; thus, they are traded less frequently compared to conventional bonds.

 

vInvestments in below investment-grade fixed-income securities may subject the Fund to greater risks than other securities, including being subject to greater levels of interest rate risk, credit risk (including a greater risk of default), and liquidity risk. The ability of the issuer to make payments is predominantly speculative for below investment-grade fixed income securities.

 

vThe Fund may invest in profit-rate swaps, which are derivative contracts. Derivative contracts involve risks different from, and possibly greater than, risks associated with investing directly in securities and other traditional investments. These risks may include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Derivative contracts may also involve other risks described in this Prospectus or the Fund’s Statement of Additional Information (SAI), such as interest rate, credit, currency, liquidity, and leverage risks.

 

vTo secure its obligations relating to derivative contracts, the Fund will either own the underlying assets, enter into offsetting transactions, or set aside cash or readily marketable securities. This requirement may cause the Fund to miss favorable trading opportunities, due to a lack of sufficient cash or readily marketable securities. This requirement may also cause the Fund to realize losses on offsetting or terminated derivative contracts or special transactions.

 

vThe Fund invests in trade finance securities located primarily in or having exposure to global emerging markets. As such, the Fund is subject to all the risks typical to investments generally made in emerging markets. In addition, the Fund is subject to risks specific to the trade finance asset class such as liquidity risk, credit rating risk, and counter-party risk.

 

vWhen the Fund invests in wakala, it will be subject to the credit risk of the bank acting as agent, and the risk that the bank will not manage the investment in a profitable manner.

 

vThe stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company’s financial condition, on overall market, and economic conditions and on investors’ perception of a company’s soundness.

 

vThe Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties exposing it to more volatility and/or market risk than diversified funds. In addition, the Fund invests a significant portion of its assets in companies within the financial services sector and its performance may suffer if this sector underperforms the overall stock market.

 

vIndividual securities or other holdings in the Fund may not perform as expected, and the Fund’s portfolio management practices may not achieve the desired result.

 

vInvesting in foreign securities involves risks not typically associated with U.S. investments, including, among others, adverse fluctuations in foreign currency values as well as adverse political, social, and economic developments affecting a foreign country, less publicly available information, more volatile or less liquid securities markets, restrictions on receiving the investment proceeds from a foreign country, foreign tax laws, potential difficulties in enforcing contractual obligations, less revealing accounting practices, inadequate or irregular regulation, and more volatile performance. Foreign financial markets may also have fewer investor protections. Foreign companies may also receive less coverage than U.S. companies by market analysts and the financial press. These factors may prevent the Fund and its Adviser from obtaining information concerning foreign companies that is as frequent, extensive, and reliable as the information available concerning companies in the United States. There is also the risk of confiscation, taxation, currency blockage, or political or social instability.

 

vSecurities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates or currency controls imposed by foreign governments. When the U.S. dollar strengthens relative to a foreign currency, the U.S. dollar value of an investment denominated in that currency will typically fall. Investing in currencies or securities denominated in a foreign currency, entails risk of being exposed to a currency that may not fully reflect the strengths and weaknesses of the economy of the country or region utilizing the currency. In addition, it is possible that a currency (such as, for example, the euro) could be abandoned in the future by countries that have already adopted its use, and the effects of such an abandonment on the applicable country and the rest of the countries utilizing the currency are uncertain but could negatively affect the Fund’s investments denominated in the currency.

 

vThe Fund will concentrate its investments in the financial services industry. Adverse developments affecting a security in the financial services industry may affect all securities in that industry, and any negative developments affecting that industry will have a greater impact on the Fund than a fund that is not concentrated in that industry.  Further, because the Fund’s investments are concentrated in securities issued by a limited number of counterparties, all of which share a single industry, the Fund is even more susceptible to any single negative economic, technological, political, or regulatory occurrence that impacts the financial services industry than a fund that does not concentrate.

 

vInvestments in emerging market securities impose risks different from, or greater than, risks of investing in foreign developed countries, including: smaller market capitalization; significant price volatility; and restrictions on foreign investment. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, and confiscatory taxation, or, in certain instances, reversion to closed market, centrally planned economies. Emerging market economies may also experience more severe downturns. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by a Fund. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.

 

vThe Fund’s investment in securities issued by foreign governments and agencies of foreign governments (sovereign debt) differs from debt obligations issued by private entities in that, generally, remedies for defaults must be pursued in the courts of the defaulting party. Legal recourse is therefore limited. The foreign sovereign debt securities the Fund purchases involve specific risk, including that (i) the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or interest when it becomes due because of political constraints, cash flow problems, and other national economic factors; (ii) governments may default on their sovereign debt, which may require holders of such sovereign debt to participate in debt rescheduling or additional lending to defaulting governments; and (iii) there are no bankruptcy proceedings by which defaulted sovereign debt may be collected in whole or in part.

 

vThe Fund’s ethical investment restrictions will narrow the availability of investment opportunities in which it can invest. It is possible that the restrictions placed on investments may cause the Fund to underperform compared to other funds that do not place such restrictions on their investments.

 

vThe Fund may invest up to 15% of its net assets in securities considered to be illiquid as defined by the Investment Company Act of 1940. These can include certificates issued by foreign banks, trade finance, sukuk, and wakala. As a result, if the Fund receives a large amount of redemptions, the Fund may be forced to sell such illiquid investments at a significant loss to be able to meet such redemption requests.

 

You should consider investing in the Fund if you are looking for capital preservation and income and are willing to accept the associated risks.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p>

The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns for a calendar 1-year, 5 -year and for the life of the Fund compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p>
~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact adjex_S000022554Member column rr_ProspectusShareClassAxis compact * row primary compact * ~

For the period from 1-1-2018 through 9-30-2018, the total return for the Fund was 0.71%

 

Best Quarter: ended 9-30-2010 1.93%

Worst Quarter: ended 6-30-2010 -1.66%

 

The Fund’s inception date was April 6, 2010

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p>
~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact adjex_S000022554Member ~

After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.

XML 12 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Jun. 30, 2018
Registrant Name dei_EntityRegistrantName AZZAD FUNDS
Central Index Key dei_EntityCentralIndexKey 0001031008
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol adjex
Document Creation Date dei_DocumentCreationDate Oct. 22, 2018
Document Effective Date dei_DocumentEffectiveDate Nov. 01, 2018
Prospectus Date rr_ProspectusDate Nov. 01, 2018
Azzad Ethical Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Objective [Heading] rr_ObjectiveHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Azzad Ethical Fund’s investment objective is to provide shareholders with long-term total returns using means that are consistent with the Adviser’s ethical principles.

Expense [Heading] rr_ExpenseHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p>
Redemption Fee (as a % of amount redeemed within 90 days) rr_RedemptionFeeOverRedemption (2.00%)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p>
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.20%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.15%
Fee Waiver / Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.16%) [1]
Total Annual Fund Operating Expenses after fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 0.99%
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 28.83% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 28.83%
Expense Example [Heading] rr_ExpenseExampleHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

One Year rr_ExpenseExampleYear01 $ 101
Three Years rr_ExpenseExampleYear03 315
Five Years rr_ExpenseExampleYear05 547
Ten Years rr_ExpenseExampleYear10 $ 1,318
Strategy [Heading] rr_StrategyHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal market conditions, the Fund will invest in securities of mid-capitalization companies included in the Russell Midcap Growth Index (the “Index”) at the time of purchase. The companies in the Index will be screened for companies that comply with the Fund’s ethical investment restrictions, and those companies that fail to meet these criteria will be removed. The remaining companies will then be subject to the sub-adviser’s quantitative model to select the securities for the Fund’s portfolio. Under normal market conditions, the Fund will invest at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in securities meeting the Fund’s ethical investment criteria.

 

The Fund seeks total return, which includes income from dividends and capital appreciation of portfolio securities held by the Fund.

 

The Index includes domestic, mid-cap companies whose earnings are expected to grow at an above-average rate relative to the market. It is a subset of the Russell Midcap Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. As of September 30, 2018, the average market cap of the Russell Midcap Growth Index was approximately $16.09 billion. The size of the companies in an index changes with market conditions and the composition of the index.

 

The Fund’s sub-adviser, Ziegler Capital Management, LLC (“ZCM”) will seek to achieve the Fund’s objective by incorporating its proprietary, quantitative model of historical valuation, growth, profitability and other factors to identify stocks that may have the potential to provide a higher total return than that of the Index. Generally, ZCM will attempt to overweight stocks with positive characteristics identified by its quantitative model (higher cash flow return on investment “CFROI” profitability measures, higher/more stable profitability, higher/more profitable sales growth, positive price momentum, relative low price/earnings measures) and underweight (or avoid altogether) stocks with negative characteristics (lower CFROI profitability measures, declining/volatile profitability, lower/more volatile sales growth, declining price momentum, relative high price/earnings measures). Using various optimization techniques, ZCM will construct a portfolio that is designed to closely track the risk profile of the Index (e.g. beta, size, volatility). Although the Fund will not hold all the stocks in the Index, ZCM expects that there will be a close correlation between the performance of the Fund and that of the Index in both rising and falling markets.

 

The Fund may also invest in real estate-related securities including real estate investment trusts (“REITS”) when such securities are included in the Index.

 

ZCM will decide which securities to purchase for the Fund. ZCM will sell a security if it falls out of compliance with the Fund’s ethical investment restrictions. The Fund’s Adviser evaluates whether a security continues to meet the Fund’s ethical investment restrictions on a quarterly basis, and, if the Adviser believes a security no longer meets the Fund’s ethical investment restrictions, ZCM will be instructed to sell such security. ZCM may also sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others. ZCM will also sell securities that are removed from the Index.

 

If ZCM’s strategies do not work as intended, the Fund may not achieve its objective.

 

ZCM evaluates companies by combining a proprietary quantitative model that scores stocks with a fundamental evaluation that confirms the attractiveness of the top-scoring stocks. This multi-factor model uses cash flow analysis to identify stocks that are trading at or below their fair market value. ZCM believes that inflation adjusted returns and cash flow analysis provide the most accurate measure of a company’s value.

 

To take advantage of market inefficiencies, the Fund may be actively traded. During these periods, the Fund may have a higher turnover rate.

 

Ethical Investment Restrictions

The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.

 

The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency).

 

The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies than diversified funds, exposing it to more volatility and/or market risk than diversified funds.

Risk [Heading] rr_RiskHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Although the Adviser makes every effort to achieve the Fund’s objective, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:

 

vMedium-capitalization stocks held by the Fund could fall out of favor and returns would subsequently trail returns from the overall stock market. The performance of such stocks also could be more volatile than large-capitalization stocks. Medium-cap companies are more likely to have more limited product lines, fewer capital resources and less depth of management than larger companies.

 

vGrowth stocks can react differently to issuer, political, market, and economic developments than the market, and other types of stocks. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

 

vInvesting primarily in issuers within the same market capitalization category carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the fund invests primarily in securities issued by mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by large companies. Medium-sized companies typically have less seasoned management, narrower product lines, and less capital reserves and liquidity than larger companies.

 

vThe Sub-adviser’s quantitative model may not sufficiently allow for existing or unforeseen market factors or the interplay between such factors. Funds that are managed according to a quantitative investment model can perform differently from the market based on the investment model and the factors used in the analysis, the weight placed on each factor, and changes from the factors’ historical trends. Issues in the construction and implementation of the investment models (including, for example, data problems and/or software issues) may create errors or limitations that might go undetected or are discovered only after the errors or limitations have negatively impacted performance. There is no guarantee that the use of these investment models will result in effective investment decisions for the Fund.

 

vThe stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company’s financial condition, on overall market and economic conditions and on investors’ perception of a company’s soundness. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.

 

vThe Fund is non-diversified and may invest a larger percentage of its assets in fewer companies exposing it to more volatility and/or market risk than diversified funds. The Fund also generally avoids companies in certain economic sectors, and its performance may suffer if these sectors outperform the overall stock market.

 

vThe Fund’s ethical investment restrictions do not allow investing in certain businesses, and there are broad limitations upon the types of securities or other instruments in which the Fund may invest, as well as upon commonly used investment techniques. As a result, the Fund will not be able to participate in strong performance from those businesses and may not be able to earn income comparable to other funds from non-invested assets.

 

vThe value of the Fund’s investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs. Shareholders of the Fund will indirectly be subject to the fees and expenses of the individual REITs in which the Fund invests.

 

vThe Fund is subject to management risk because it is an actively managed portfolio. The Adviser’s management practices and investment strategies might not produce the desired results. The Adviser may be incorrect in its assessment of a stock’s appreciation or depreciation potential.

 

You should consider investing in the Fund if you are looking for long-term total return and are willing to accept the associated risks.

Risk Lose Money [Text] rr_RiskLoseMoney <p style="margin: 0">You could lose money by investing in this Fund.</p>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns for a calendar 1-year, 5-year and 10-year period compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.

Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone <p style="margin: 0">888-350-3369</p>
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.</p>
Bar Chart [Heading] rr_BarChartHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p>
Annual Return 2008 rr_AnnualReturn2008 (43.38%)
Annual Return 2009 rr_AnnualReturn2009 53.75%
Annual Return 2010 rr_AnnualReturn2010 23.84%
Annual Return 2011 rr_AnnualReturn2011 2.09%
Annual Return 2012 rr_AnnualReturn2012 7.74%
Annual Return 2013 rr_AnnualReturn2013 36.36%
Annual Return 2014 rr_AnnualReturn2014 6.42%
Annual Return 2015 rr_AnnualReturn2015 (5.84%)
Annual Return 2016 rr_AnnualReturn2016 2.48%
Annual Return 2017 rr_AnnualReturn2017 23.22%
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

For the period 01-01-2018 through 09-30-2018 the total return for the Fund was 12.84%

 

Best Quarter: 6-30-2009 23.72%

Worst Quarter: 12-31-2008 -25.23%

 

The Fund’s inception date was December 22, 2000

Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <p style="margin: 0">Best Quarter</p>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 23.72%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <p style="margin: 0">Worst Quarter</p>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (25.23%)
Performance Table Heading rr_PerformanceTableHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate <p style="margin: 0">After tax returns are calculated using the highest historical individual federal marginal income tax rates</p>
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.</p>
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.

Azzad Ethical Fund | Azzad Ethical Fund  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 23.22%
5 Years rr_AverageAnnualReturnYear05 11.53%
10 Years rr_AverageAnnualReturnYear10 7.42%
Azzad Ethical Fund | After Taxes on Distributions | Azzad Ethical Fund  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 19.41%
5 Years rr_AverageAnnualReturnYear05 9.63%
10 Years rr_AverageAnnualReturnYear10 6.28%
Azzad Ethical Fund | After Taxes on Distributions and Sales | Azzad Ethical Fund  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 16.30%
5 Years rr_AverageAnnualReturnYear05 8.88%
10 Years rr_AverageAnnualReturnYear10 5.77%
Azzad Ethical Fund | Russell MidCap Growth (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 25.27%
5 Years rr_AverageAnnualReturnYear05 15.31%
10 Years rr_AverageAnnualReturnYear10 9.10%
Azzad Wise Capital Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Objective [Heading] rr_ObjectiveHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Investment Objective</i></b></p>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Azzad Wise Capital Fund’s investment objective is to provide shareholders with capital preservation and income.

Expense [Heading] rr_ExpenseHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Fees and expenses of the Fund</i></b></p>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

The table below describes fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Shareholder Fees</i></b> (fees paid directly from your investment)</p>
Redemption Fee (as a % of amount redeemed within 90 days) rr_RedemptionFeeOverRedemption (2.00%)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Fund Operating Expenses</i></b> (expenses that you pay each year as a percentage of the value of your investment)</p>
Management Fees rr_ManagementFeesOverAssets 1.19%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.05%
Other Expenses rr_OtherExpensesOverAssets 0.20%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.44%
Fee Waiver / Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.15%) [2]
Total Annual Fund Operating Expenses after fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 1.29%
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Portfolio Turnover</i></b></p>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). Higher turnover rates may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 40.14% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 40.14%
Expense Example [Heading] rr_ExpenseExampleHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Example</i></b></p>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

One Year rr_ExpenseExampleYear01 $ 131
Three Years rr_ExpenseExampleYear03 409
Five Years rr_ExpenseExampleYear05 708
Ten Years rr_ExpenseExampleYear10 $ 1,652
Strategy [Heading] rr_StrategyHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Investment Strategy</i></b></p>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Azzad Wise Capital Fund invests primarily in fixed income securities issued for payment by international financial institutions, foreign governments, and agencies of foreign governments in transactions structured to be compliant with the Fund’s ethical investment guidelines. Examples of fixed income securities in which the Fund invests include sukuk and wakala. Sukuk are asset-based securities used to finance projects and asset acquisitions while avoiding the Islamic prohibition on interest.

 

Whereas bonds represent a debt ownership, a sukuk certificate represents ownership or interest in a tangible asset, or the usufruct of an asset. Sukuk grant investors a proportionate beneficial ownership of the underlying asset, along with its associated risks and potential cash flows. Wakala accounts are operated under the Islamic finance principle of wakala (an agency agreement). With wakala, a bank, as agent, raises funds to invest in various commercial activities from its investors. The bank and its investors both share in the profit and risk of loss of investment in such activities.

 

The Fund anticipates approximately 80% of the Fund’s fixed income securities will be investment grade at the time of purchase, based upon the credit ratings given by one or more nationally recognized statistical rating organizations (NRSROs).  Approximately 20% of the Fund’s fixed income securities may be below investment grade (but not lower than a B rating by Moody’s or an equivalent NRSRO). The Fund may also invest in unrated securities (securities that are not rated by a rating agency) if the Fund determines that the securities are of comparable quality to rated securities that the Fund may purchase.

 

The Fund will invest up to 10% of its net assets (at the time of purchase) in domestic and international common stocks of any market capitalization, including emerging market securities. The Adviser will emphasize dividend-paying stocks issued by companies with strong fundamentals and relatively limited anticipated volatility to supplement its fixed-income holdings.

 

The Fund may invest in short-term income producing investments such as money market accounts and certificates of deposit that are following its ethical guidelines.

 

The Fund may invest up to 15% of its net assets in illiquid securities as defined by the Investment Company Act of 1940, which may include investments in trade finance securities. Generally, these securities evidence transactions where there is a flow of goods or services (typically of a cross-border nature) and a financing need. These trade finance structures are subject to significant individual variation. The Fund’s trade finance investments are expected to consist primarily of loans, or similar instruments used to finance international trade and related infrastructure projects. These are expected to include, but not be limited to, facilities for pre-export finance, process and commodities finance, receivables financing, letters of credit and other documentary credits, promissory notes, bills of exchange, and other negotiable instruments. The Fund may engage in such investments by way of purchase, assignment, participation, guarantee, insurance, or any other appropriate financial instrument.

 

The Fund may use derivatives instruments, such as profit rate swaps, to develop its investment strategy. In a profit rate swap, two parties enter into a series of separate contracts. The Islamic profit rate swap allows two parties to exchange a series of profit payments in a single currency in exchange for another series of payments in the same currency. For example, it allows for the exchange of profit rate cash flows between a fixed rate party and a floating rate party (or vice versa) implemented through the execution of a series of underlying contracts to trade certain assets under the Shariah principles of Murabaha. The profit rate cash flows are calculated on a notional principal amount, at specified intervals during the life of the agreement. To secure the Fund's obligations regarding its derivative positions, the Fund must pledge collateral as security to the broker. This pledged collateral is segregated and maintained with the Fund's custodian.

 

The Fund may also invest in fixed income securities issued in transactions where the Fund purchases (in the commodities markets) warrants (that is, certificates giving the holder the right to buy specific amounts of a commodity at a specific time) for commodities such as metals from a party other than the counterparty, and nearly simultaneously sells to a counterparty the underlying commodities in exchange for a note payable by the counterparty providing a fixed return that is due in a fixed amount of time following the transaction. Most of these counterparties are foreign banks and some of these issuers may be in emerging markets. However, the assets are not pledged as security for the certificates, and the Fund is relying on the creditworthiness of the issuer for all payments required by the certificates. There is also no assurance that the issuers of these types of certificates will be able to make such payments.

 

The essence of the Fund’s strategy is to provide shareholders with a return that is comparable to the return on bank accounts, certificates of deposit, and other similar fixed income products. The Fund concentrates its investments in the financial services industry. The Fund anticipates that the maturity of the securities in the portfolio will range from one to fifteen years and that the average duration of the portfolio will range from one to three years. While the Fund generally purchases securities at the lower end of this maturity range, the Fund may purchase securities with maturities at the longer end of this range when the Adviser determines that they offer an attractive return or to lengthen the average duration of the Fund.

 

The Fund’s sub-adviser, Federated Investment Management Company (“Federated”), directs the investment of most of the Fund’s assets, furnishing investment information, advice, and recommendations to the Fund as to the acquisition, holding, or disposition of securities or other assets that the Fund may own or contemplate acquiring from time to time. The Adviser will oversee Federated and be responsible for the day-to-day portfolio management of the Fund related to the dividend-yielding equity portion of the Fund’s portfolio and for ensuring that the Fund’s holdings and portfolio management complies with its ethical investment restrictions.

 

Federated will sell a security if it falls out of compliance with the Fund’s ethical investment restrictions upon the Adviser’s instructions. In addition, a security may be sold when Federated believes it is showing deteriorating technical and fundamental indicators, due to sector rotations or geographical reallocations, or to manage concentration risk.

 

Ethical Investment Restrictions

The Fund does not invest in corporations that derive substantial revenue (defined as more than 5% of total revenue) from alcohol, tobacco, pornography, pork, gambling, hydraulic fracturing, private prisons, or weapons industries as determined by the Adviser.

 

The Fund will not invest in securities or other instruments that derive revenue from the receipt of interest from lending arrangements, preferred stocks and convertible securities or other instruments that pay interest from lending, or from the receipt of gains from futures contracts, trading debt, or trades that involve exchanging the same kind of monetary instruments (such as the same type of currency). The Fund will, however, be able to invest in instruments that provide a fixed rate of return in transactions that are structured to be compliant with the Fund’s ethical investment restrictions such as sukuk, certificates of deposit, bank notes, and short-term bank deposits.

 

The Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties than diversified funds exposing it to more volatility and/or market risk than diversified funds.

Risk [Heading] rr_RiskHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Principal Risks of Investing in the Fund</i></b></p>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Although the Adviser makes every effort to achieve the Fund’s objective of capital preservation and income, the Adviser cannot guarantee it will attain that objective. You could lose money by investing in this Fund. The principal risks include:

 

vThe Fund invests in fixed income securities, which are subject to credit risk. Credit risk includes issuer credit risk, which is the risk that payments will not be paid when due in accordance with their terms. Such non-payment or default may reduce the value of the Fund’s portfolio holdings, its share price, and its performance. The counterparty issuing the securities may not be able to pay the securities when due or otherwise fulfill their contractual obligations, which could reduce the value of the Fund’s portfolio holdings, its share price, and its performance.

 

vA rise in prevailing interest rates generally will cause the price of a fixed-rate debt security to fall. Generally, the longer the duration or maturity of a security or weighted average maturity of the Fund, the more sensitive its price is to a rise in interest rates. Recent and potential future changes in government monetary policy are likely to affect the level of interest rates.

 

vSukuk involve many of the same risks that conventional bonds incur such as credit and counterparty risk, interest rate, maturity, and investment grade securities risk. In addition to these risks, there are certain risks specific to sukuk. These include various operational risks including default risk, a lack of institutional support, and risks related to the underlying assets. The sukuk markets are in their infancy and most sukuk trading is restricted to the primary markets. Unlike conventional bonds, sukuk tend to be held until maturity; thus, they are traded less frequently compared to conventional bonds.

 

vInvestments in below investment-grade fixed-income securities may subject the Fund to greater risks than other securities, including being subject to greater levels of interest rate risk, credit risk (including a greater risk of default), and liquidity risk. The ability of the issuer to make payments is predominantly speculative for below investment-grade fixed income securities.

 

vThe Fund may invest in profit-rate swaps, which are derivative contracts. Derivative contracts involve risks different from, and possibly greater than, risks associated with investing directly in securities and other traditional investments. These risks may include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Derivative contracts may also involve other risks described in this Prospectus or the Fund’s Statement of Additional Information (SAI), such as interest rate, credit, currency, liquidity, and leverage risks.

 

vTo secure its obligations relating to derivative contracts, the Fund will either own the underlying assets, enter into offsetting transactions, or set aside cash or readily marketable securities. This requirement may cause the Fund to miss favorable trading opportunities, due to a lack of sufficient cash or readily marketable securities. This requirement may also cause the Fund to realize losses on offsetting or terminated derivative contracts or special transactions.

 

vThe Fund invests in trade finance securities located primarily in or having exposure to global emerging markets. As such, the Fund is subject to all the risks typical to investments generally made in emerging markets. In addition, the Fund is subject to risks specific to the trade finance asset class such as liquidity risk, credit rating risk, and counter-party risk.

 

vWhen the Fund invests in wakala, it will be subject to the credit risk of the bank acting as agent, and the risk that the bank will not manage the investment in a profitable manner.

 

vThe stock market may fall in value, causing prices of stocks held by the Fund to fall. Stock prices fluctuate based on changes to a company’s financial condition, on overall market, and economic conditions and on investors’ perception of a company’s soundness.

 

vThe Fund is non-diversified and may invest a larger percentage of its assets in fewer companies and/or counterparties exposing it to more volatility and/or market risk than diversified funds. In addition, the Fund invests a significant portion of its assets in companies within the financial services sector and its performance may suffer if this sector underperforms the overall stock market.

 

vIndividual securities or other holdings in the Fund may not perform as expected, and the Fund’s portfolio management practices may not achieve the desired result.

 

vInvesting in foreign securities involves risks not typically associated with U.S. investments, including, among others, adverse fluctuations in foreign currency values as well as adverse political, social, and economic developments affecting a foreign country, less publicly available information, more volatile or less liquid securities markets, restrictions on receiving the investment proceeds from a foreign country, foreign tax laws, potential difficulties in enforcing contractual obligations, less revealing accounting practices, inadequate or irregular regulation, and more volatile performance. Foreign financial markets may also have fewer investor protections. Foreign companies may also receive less coverage than U.S. companies by market analysts and the financial press. These factors may prevent the Fund and its Adviser from obtaining information concerning foreign companies that is as frequent, extensive, and reliable as the information available concerning companies in the United States. There is also the risk of confiscation, taxation, currency blockage, or political or social instability.

 

vSecurities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates or currency controls imposed by foreign governments. When the U.S. dollar strengthens relative to a foreign currency, the U.S. dollar value of an investment denominated in that currency will typically fall. Investing in currencies or securities denominated in a foreign currency, entails risk of being exposed to a currency that may not fully reflect the strengths and weaknesses of the economy of the country or region utilizing the currency. In addition, it is possible that a currency (such as, for example, the euro) could be abandoned in the future by countries that have already adopted its use, and the effects of such an abandonment on the applicable country and the rest of the countries utilizing the currency are uncertain but could negatively affect the Fund’s investments denominated in the currency.

 

vThe Fund will concentrate its investments in the financial services industry. Adverse developments affecting a security in the financial services industry may affect all securities in that industry, and any negative developments affecting that industry will have a greater impact on the Fund than a fund that is not concentrated in that industry.  Further, because the Fund’s investments are concentrated in securities issued by a limited number of counterparties, all of which share a single industry, the Fund is even more susceptible to any single negative economic, technological, political, or regulatory occurrence that impacts the financial services industry than a fund that does not concentrate.

 

vInvestments in emerging market securities impose risks different from, or greater than, risks of investing in foreign developed countries, including: smaller market capitalization; significant price volatility; and restrictions on foreign investment. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, and confiscatory taxation, or, in certain instances, reversion to closed market, centrally planned economies. Emerging market economies may also experience more severe downturns. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by a Fund. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.

 

vThe Fund’s investment in securities issued by foreign governments and agencies of foreign governments (sovereign debt) differs from debt obligations issued by private entities in that, generally, remedies for defaults must be pursued in the courts of the defaulting party. Legal recourse is therefore limited. The foreign sovereign debt securities the Fund purchases involve specific risk, including that (i) the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or interest when it becomes due because of political constraints, cash flow problems, and other national economic factors; (ii) governments may default on their sovereign debt, which may require holders of such sovereign debt to participate in debt rescheduling or additional lending to defaulting governments; and (iii) there are no bankruptcy proceedings by which defaulted sovereign debt may be collected in whole or in part.

 

vThe Fund’s ethical investment restrictions will narrow the availability of investment opportunities in which it can invest. It is possible that the restrictions placed on investments may cause the Fund to underperform compared to other funds that do not place such restrictions on their investments.

 

vThe Fund may invest up to 15% of its net assets in securities considered to be illiquid as defined by the Investment Company Act of 1940. These can include certificates issued by foreign banks, trade finance, sukuk, and wakala. As a result, if the Fund receives a large amount of redemptions, the Fund may be forced to sell such illiquid investments at a significant loss to be able to meet such redemption requests.

 

You should consider investing in the Fund if you are looking for capital preservation and income and are willing to accept the associated risks.

Risk Lose Money [Text] rr_RiskLoseMoney <p style="margin: 0">You could lose money by investing in this Fund.</p>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Performance</i></b></p>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns for a calendar 1-year, 5 -year and for the life of the Fund compare with those of a broad measure of market performance. To obtain updated performance information, please call 888-350-3369. The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.

Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone <p style="margin: 0">888-350-3369</p>
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Fund’s past performance, before and after taxes, is not necessarily an indication of its future performance.</p>
Bar Chart [Heading] rr_BarChartHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b><i>Annual Total Returns for the Years Ended December 31</i></b></p>
Annual Return 2010 rr_AnnualReturn2010 0.41%
Annual Return 2011 rr_AnnualReturn2011 0.93%
Annual Return 2012 rr_AnnualReturn2012 5.07%
Annual Return 2013 rr_AnnualReturn2013 1.92%
Annual Return 2014 rr_AnnualReturn2014 2.79%
Annual Return 2015 rr_AnnualReturn2015 (0.11%)
Annual Return 2016 rr_AnnualReturn2016 1.38%
Annual Return 2017 rr_AnnualReturn2017 2.68%
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

For the period from 1-1-2018 through 9-30-2018, the total return for the Fund was 0.71%

 

Best Quarter: ended 9-30-2010 1.93%

Worst Quarter: ended 6-30-2010 -1.66%

 

The Fund’s inception date was April 6, 2010

Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <p style="margin: 0">Best Quarter</p>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.93%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <p style="margin: 0">Worst Quarter</p>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2010
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (1.66%)
Performance Table Heading rr_PerformanceTableHeading <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>Average Annual Total Returns</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">(For the periods ended December 31, 2017)</p>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate <p style="margin: 0">After tax returns are calculated using the highest historical individual federal marginal income tax rates</p>
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.</p>
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

After tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant if your Fund shares are held in tax-deferred arrangements, such as Individual Retirement Accounts (IRAs) or 401(k) plans.

Azzad Wise Capital Fund | Azzad Wise Capital Fund  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.68%
5 Years rr_AverageAnnualReturnYear05 1.73%
Since Inception rr_AverageAnnualReturnSinceInception 1.94%
Azzad Wise Capital Fund | After Taxes on Distributions | Azzad Wise Capital Fund  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.19%
5 Years rr_AverageAnnualReturnYear05 1.25%
Since Inception rr_AverageAnnualReturnSinceInception 1.43%
Azzad Wise Capital Fund | After Taxes on Distributions and Sales | Azzad Wise Capital Fund  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.51%
5 Years rr_AverageAnnualReturnYear05 1.10%
Since Inception rr_AverageAnnualReturnSinceInception 1.28%
Azzad Wise Capital Fund | ICE BofA ML US Corp Govt 1-3 Yr Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.86%
5 Years rr_AverageAnnualReturnYear05 0.86%
Since Inception rr_AverageAnnualReturnSinceInception 1.19%
[1] The Fund's Adviser has agreed to contractually waive all or a portion of its fees and/or reimburse the Fund for certain operating expenses, to the extent necessary to limit the fund's net annual operating expenses (excluding brokerage costs; borrowing costs, including without limitation dividends on securities sold short; taxes; indirect expenses, such as expenses incurred by other investment companies in which the Fund invests; and litigation and other extraordinary expenses) to 0.99% of average daily net assets through December 1, 2023. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years from the time the fees were waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. These agreements may be terminated only by the Fund's Board of Trustees.
[2] The Fund's Adviser has agreed to contractually waive all or a portion of its fees and/or reimburse the Fund for certain operating expenses, to the extent necessary to limit the fund's net annual operating expenses (excluding brokerage costs; borrowing costs, including without limitation dividends on securities sold short; taxes; indirect expenses, such as expenses incurred by other investment companies in which the Fund invests; and litigation and other extraordinary expenses) to 1.29% of average daily net assets through December 1, 2023. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years from the time the fees were waived or reimbursed, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. These agreements may be terminated only by the Fund's Board of Trustees.
XML 13 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 14 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 16 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 11 71 1 true 8 0 false 2 false true R1.htm 00000003 - Document - Azzad Ethical Fund Summary {Unlabeled} Sheet http://azzadfunds.com/role/AzzadEthicalFundSummaryUnlabeled Azzad Ethical Fund Summary 1 false true R2.htm 00000004 - Document - Azzad Wise Capital Fund Summary {Unlabeled} Sheet http://azzadfunds.com/role/AzzadWiseCapitalFundSummaryUnlabeled Azzad Wise Capital Fund Summary 2 false false R3.htm 010000 - Document - Risk/Return Summary {Unlabeled} Sheet http://xbrl.sec.gov/rr/role/RiskReturn Risk/Return Summary 3 false false R9.htm 040000 - Disclosure - Risk/Return Detail Data {Elements} Sheet http://xbrl.sec.gov/rr/role/RiskReturnDetailData Risk/Return Detail Data 4 false false All Reports Book All Reports adjex-20181022.xml adjex-20181022.xsd adjex-20181022_def.xml adjex-20181022_lab.xml adjex-20181022_pre.xml BarChart1.png BarChart2.png http://xbrl.sec.gov/dei/2012-01-31 http://xbrl.sec.gov/rr/2012-01-31 true false ZIP 18 0001162044-18-000618-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001162044-18-000618-xbrl.zip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end