Karachi: The Meezan Pakistan Exchange Traded Fund (MP-ETF) reported net assets of Rs. 2.59 billion as of October 31, 2026, marking a 3.62% increase from the previous month, according to a report dated November 12, 2026. However, the fund's Net Asset Value (NAV) experienced a decline of 2.03% during the same period, indicating a big move in the context of fund performance.

The MP-ETF, launched on October 5, 2020, is an open-end, Shariah-compliant fund listed on the Pakistan Stock Exchange (PSX). Its investment objective is to provide investors with an opportunity to track the Meezan Pakistan Index, which is comprised of Shariah-compliant equity securities. The fund maintains a high-risk profile with principal erosion potential.

The fund is managed by Muhammad Zohaib Jawaid, CFA, with oversight from a committee of investment professionals. The fund's top equity holdings include major companies such as Fauji Fertilizer Company Limited, Engro Holdings Limited, and Meezan Bank Limited, with respective allocations of 15.44%, 12.64%, and 12.10% of total assets. The sector allocation reveals a significant focus on oil and gas exploration companies, cement, and fertilizer sectors.

According to information available from the Pakistan Stock Exchange (PSX), the MP-ETF's performance metrics for October show a moderate move in NAV per unit from Rs. 17.35 to Rs. 16.99. The fund's management fee is set between 0% to 0.75%, with the actual rate at 0.50%.

The cumulative returns indicate a decline of 2.03% over one month and a 3.04% decrease over three months, against the benchmark's respective decreases of 2.01% and 2.82%. The fund's expense ratio is reported at 1.27% month-to-date and 1.04% year-to-date, inclusive of levies and taxes.

The MP-ETF's annual returns have varied over recent years, with a notable 39.59% return in FY26. Despite the NAV decrease, the fund's net assets have shown resilience, reflecting investor confidence in the ETF's Shariah-compliant investment strategy.