Karachi: In its latest report for June 2026, the Meezan Pakistan Exchange Traded Fund (MP-ETF) has showcased a mixed yet robust performance across various periods, reflecting both its high-risk profile and potential for significant returns. The fund, which was officially launched on October 5, 2020, is a Shariah Compliant Exchange Traded Fund listed on the Pakistan Stock Exchange (PSX).
According to the report announced on July 15, 2026, the MP-ETF demonstrated a ‘Big move’ with a 2.85% increase over the past month, while its benchmark, the Meezan Pakistan Index (MZNPI), recorded a slightly higher rise of 2.94%. Over a three-month period, the fund achieved an ‘18.79% jump’, classified as a ‘Very large or significant move’, though it still trailed behind the benchmark's 19.60%.
The fund manager, Muhammad Zohaib Jawaid, CFA, is supported by an investment committee consisting of ten members, including several CFAs and FRMs, underscoring the fund's commitment to expert management. The MP-ETF employs a backward pricing mechanism, with subscription and redemption aligned with market hours.
The cumulative returns indicate a ‘Big move’ over six months, with the fund realizing a 3.00% increase, compared to the benchmark's 3.64%. This trend of high yet slightly lagging performance continues in the fiscal year to date (FYTD) with the fund achieving a 39.59% return, while the benchmark stands at 41.80%. Over a one-year span, the fund mirrored its FYTD performance, again at 39.59%, but fell short of the benchmark's 41.80%.
According to information available from the Pakistan Stock Exchange (PSX), the fund's longer-term performance over three and five years also showed notable results, with returns of 241.71% and 158.29%, respectively. These figures, however, were overshadowed by the benchmark's substantial returns of 266.81% and 181.77% over the same periods.
The annual returns further highlight the MP-ETF's fluctuating performance. In the fiscal year 2025, the fund recorded a 31.76% gain, showing a ‘Very large or significant move’, yet it was behind the benchmark’s 33.38%. The previous fiscal year saw an even more dramatic performance, with the fund soaring by 85.78%, albeit still trailing the benchmark's 93.94%.
The MP-ETF, with a high-risk profile, seeks to attract investors willing to engage with the volatility for potentially high returns. It utilizes a growth unit type and charges a management fee of up to 0.75%, with the actual rate at 0.50%. The fund's authorized participants include JS Global, Adam Securities, and MRA Securities.
Despite some periods of underperformance relative to its benchmark, the fund's long-term returns indicate a resilient investment option for those aligned with Shariah compliance principles, supported by the robust oversight of its trustee, the Central Depository Company of Pakistan Limited, and auditor, A.F. Ferguson & Company.