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adjex:IceBofaMember 2024-06-30 0001031008 adjex:BloombergMember 2024-06-30 iso4217:USD shares iso4217:USD shares pure adjex:Holdings false N-1A 0001031008 N-CSR AZZAD FUNDS 2024-06-30 Azzad Ethical Fund ADJEX ADDITIONAL INFORMATION This annual shareholder report contains important information about the Azzad Ethical Fund - ADJEX for the period July 1, 2023 to June 30, 2024. You can find additional information about the Fund at https://azzadasset.com. You can also request this information by contacting us at 1-888-862-9923. annual shareholder report Azzad Ethical Fund https://azzadasset.com 1-888-862-9923 expense Information What were the Fund costs for the past year? (based on a hypothetical $10,000 investment) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt">Fund Name</td> <td style="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Costs of a $10,000 investment</td> <td style="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Costs paid as a percentage of a $10,000 investment*</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Azzad Ethical Fund</td> <td id="xdx_989_eoef--ExpensesPaidAmt_c20230701__20240630__oef--ClassAxis__custom--C000012956Member_z4FpUbcF88Rj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$102</td> <td id="xdx_984_eoef--ExpenseRatioPct_c20230701__20240630__oef--ClassAxis__custom--C000012956Member_z22KD6QIapxk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.99%</td></tr> </table> *Annualized 102 0.0099 How did the Fund perform last year? Performance Highlights <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>The Fund returned 5.66% for the 12-month period ending June 30, 2024.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>It underperformed compared to the Russell MidCap® Growth Index and the Russell 3000 Index, which returned 15.05% and 23.13%, respectively.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>Underperformance is largely attributed to the sub-adviser's allocation and stock selection.</td></tr></table> Sector Positioning <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>The Fund had overweights in Information Technology (IT) and Industrials, both of which contributed positively to performance.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>Allocation to the Health Care and Real Estate sectors detracted from relative performance.</td></tr></table> Other factors affecting Fund performance <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>The sub-adviser employs a bottom-up stock selection approach, focusing on profitable, lower-debt companies. This was not rewarded during the period.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>Market speculation around a potential recession impacted returns during the period as holdings are selected for growth throughout market cycles, not tactical advantage. </td></tr></table> The Fund sub-adviser did not tilt toward speculative investments, opting instead to concentrate on business fundamentals 0.0566 0.0810 0.0812 0.2313 0.1414 0.1215 0.1505 0.0993 0.1052 Past performance is not a good predictor of future performance Fund statistics <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt"> NET ASSETS: $146.3 MILLION</td> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">PORTFOLIO HOLDINGS: 60</td> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">PORTFOLIO TURNOVER: 24.49%</td> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">ADVISORY FEES PAID BY FUND: $909,234</td></tr> </table>

146300000

0.2449

909234 top ten holdings <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.</td> <td style="width: 68%; padding-right: 5.4pt; padding-left: 5.4pt">Cadence Design Systems, Inc.</td> <td id="xdx_981_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--CadenceDesignMember_zeGKgWdQuasl" style="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.86%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">CoStar Group, Inc.</td> <td id="xdx_984_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--CostarGroupMember_zc7fmeoFQr44" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.49%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Pinterest, Inc.</td> <td id="xdx_980_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--PinterestMember_zXiwLS5sya95" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.41%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.</td> <td style="padding-right: -4.65pt; padding-left: 5.4pt">Crowdstrike Holdings, Inc. Class A</td> <td id="xdx_98E_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--CrowdstrikeHoldingsMember_zV41QwhAFHQ4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.10%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.</td> <td style="padding-right: -8.5pt; padding-left: 5.4pt">Monolithic Power Systems, Inc.</td> <td id="xdx_98A_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--MonolithicPowerMember_zXHLRhy453O1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.07%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">6.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">DexCom, Inc.</td> <td id="xdx_98D_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--DexComIncMember_zkmZlqG9VCm4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.00%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Teradyne, Inc.</td> <td id="xdx_98E_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--TeradyneIncMember_zdz7IEtSBR51" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.62%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">8.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Quanta Services, Inc.</td> <td id="xdx_98D_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--QuantaServicesMember_z2gFxBscwzKd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.55%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">9.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">The Trade Desk, Inc. Class A</td> <td id="xdx_988_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--TradeDeskIncMember_zzMo8Aqsnb5c" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.42%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">HEICO Corp.</td> <td id="xdx_986_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000012956Member__oef--LargestHoldingAxis__custom--HeicoCorpMember_zbqktIwDq88c" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.37%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Total % of Net Assets</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">29.89%</td></tr> </table> 0.0386 0.0349 0.0341 0.0310 0.0307 0.0300 0.0262 0.0255 0.0242 0.0237 The Fund has not had any material changes during the year ended June 30, 2024 https://azzadasset.com 1-888-862-9923 10000 10000 10000 10332 10526 10508 10706 10730 10947 9729 10576 10487 9674 10960 10713 9972 11926 11257 11144 12990 12540 12287 14446 14102 13080 14909 14865 11884 13687 13433 14551 16247 16937 15450 17932 18197 16243 17309 18955 20150 21679 24674 22177 24956 27253 23732 27242 27816 16309 21496 19195 17131 22010 20385 20657 25570 23634 21287 27722 25659 21825 31481 27193 0.0145 0.0365 0.1272 0.0094 0.1988 0.2008 0.0373 0.3755 Azzad Wise Capital Fund WISEX ADDITIONAL INFORMATION This annual shareholder report contains important information about the Azzad Wise Capital Fund - WISEX for the period July 1, 2023 to June 30, 2024. You can find additional information about the Fund at https://azzadasset.com. You can also request this information by contacting us at 1-888-862-9923. annual shareholder report Azzad Wise Capital Fund expense Information What were the Fund costs for the past year? (based on a hypothetical $10,000 investment) <table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt">Fund Name</td> <td style="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Costs of a $10,000 investment</td> <td style="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Costs paid as a percentage of a $10,000 investment*</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Azzad Wise Capital Fund</td> <td id="xdx_985_eoef--ExpensesPaidAmt_c20230701__20240630__oef--ClassAxis__custom--C000065234Member_zNCiaRuGGlTj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$91</td> <td id="xdx_98C_eoef--ExpenseRatioPct_c20230701__20240630__oef--ClassAxis__custom--C000065234Member_zYa1J1Kifsxc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.89%</td></tr> </table> *Annualized 91 0.0089 How did the Fund perform last year? Performance highlights <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>The Fund returned 4.22% for the year ending June 30, 2024.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>It underperformed against the ICE BofAML US Corp and Govt 1-3 Yr Index, which returned 4.94% and overperformed against the Bloomberg US Aggregate Index, which returned 2.63%.</td></tr></table> Sector positioning <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>The sub-adviser’s allocation to the Middle East/North Africa, Gulf Cooperation Council (GCC), and Asian sukuk markets benefited from Federal Reserve interest rate projections.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>UAE real estate sukuk was a top performer due to interest rate volatility positioning by the sub-adviser.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>Security selection in Saudi Arabia and Indonesia contributed positively to performance.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>Sub-investment grade GCC sukuk from Bahrain and Oman contributed to performance in the high-yield segment.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>The Fund’s minority allocation to equities detracted from performance during the period.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>The Health Care, Real Estate, and Consumer Defensive sectors were among the top detractors from performance within equities.</td></tr></table> Other factors affecting Fund performance <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>U.S. Federal Reserve Chair Powell announced during the period that the central bank’s peak interest rate target had been met.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>Globally, rate cuts improved credit spreads and reduced funding risk for emerging market, high-yield, and investment-grade bonds.</td></tr></table> Higher beta assets in the Fund performed well due to improved credit spreads. 0.0422 0.0207 0.0182 0.0494 0.0126 0.0136 0.0263 -0.0023 0.0135 Past performance is not a good predictor of future performance Fund statistics <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt"> NET ASSETS: $266.0 MILLION</td> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">PORTFOLIO HOLDINGS: 129</td> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">PORTFOLIO TURNOVER: 36.30%</td> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">ADVISORY FEES PAID BY FUND: $1,808,237</td></tr> </table>

266000000.0

129

0.3630

1808237 top ten holdings <table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.</td> <td style="width: 67%; padding-right: 5.4pt; padding-left: 5.4pt">Esic Sukuk Ltd., 3.939%, 07/30/2024</td> <td id="xdx_989_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--EsicSukukMember_ztfd5pEnSygb" style="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.08%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">IDB Trust Services, Ltd. REGS, 1.957%, 10/02/2024</td> <td id="xdx_988_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--IdbTrustServicesMember_z7xS6rSQndye" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.26%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Aldar Sukuk Ltd., 4.750%, 09/29/2025</td> <td id="xdx_982_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--AldarSukukMember_z0yDXbXUdaZ1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.23%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">TNB Global Ventures Cap., Sr. Unsecd. Note, Series EMTN, 3.244%, 10/19/2026</td> <td id="xdx_984_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--TnbGlobalMember_z0L3pb3oxNN4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.15%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Axiata Spv2 Bhd, 4.357%, 03/24/2026</td> <td id="xdx_98A_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--AxiataSpvMember_zsrT00yiYlL1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.07%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">6.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">DIB Sukuk, Ltd., Sr. Unsecd. Note, 2.950%, 02/20/2025</td> <td id="xdx_988_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--DibSukukMember_zccNcBMuMRqk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.03%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">MAF Sukuk Ltd., Sr. Unsecd. Note, 4.500%, 11/03/2025</td> <td id="xdx_98D_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--MafSukukMember_zu9LCR1cNsP1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.86%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">8.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Perusahaan Penerbit SBSN Indois Sukuk, Series 144A, 4.150%, 03/29/2027</td> <td id="xdx_982_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--PerusahaanPenerbitMember_zKnGskjsfQv2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.83%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">9.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">MayBank Islamic Bank (Malaysia), 5.420%, 09/18/2024</td> <td id="xdx_986_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--MayBankMember_z9Lj2iuaj6Oh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.54%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10.</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">QIB Sukuk, Ltd., Unsecd. Note, 5.581%, 11/22/2028</td> <td id="xdx_980_eoef--PctOfTotalInv_iI_c20240630__oef--ClassAxis__custom--C000065234Member__oef--LargestHoldingAxis__custom--QibSukukMember_zIUVrgbvv1N5" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.51%</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Total % of Net Assets</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">20.56%</td></tr> </table> 0.0308 0.0226 0.0223 0.0215 0.0207 0.0203 0.0186 0.0183 0.0154 0.0151 The Fund has not had any material changes during the year ended June 30, 2024 https://azzadasset.com 1-888-862-9923 0.0015 0.0636 0.2195 0.0263 0.6891 10000 10000 10000 10068 10016 10196 10102 10089 10186 10056 10081 10252 10218 10248 10797 10195 10211 10524 10340 10283 10763 10469 10299 10897 10433 10310 10720 10478 10467 10898 10812 10752 11564 11026 10893 11848 11073 11201 12575 11415 11257 12737 11559 11262 12533 11642 11211 12541 11159 10854 11243 11249 10788 10909 11493 10911 11137 11743 11287 11512 11979 11450 11430