Table 12.

Style analysis - stage 6 (January 1 - May 31, 2021).

	Malaysia		Pakistan		Saudi Arabia		Qatar		Kuwait		UAE
	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.
Size
Large	73.76%	27.77%	56.44%	29.21%	66.49%	24.36%	63.92%	23.54%	80.18%	32.72%	78.33%	26.16%
Mid	20.06%	34.38%	28.23%	47.92%	29.23%	39.14%	24.57%	34.70%	13.60%	39.22%	16.86%	45.46%
Small	6.18%	37.86%	15.33%	22.87%	4.28%	36.50%	11.51%	41.76%	6.23%	28.05%	4.81%	28.39%
R2	0.8398	0.7914	0.7965	0.8608	0.8544	0.8336	0.844	0.8111	0.8798	0.8119	0.8485	0.8045
Tracking Error	0.63%	0.41%	0.70%	0.88%	0.35%	0.75%	0.47%	0.60%	0.50%	0.44%	0.85%	0.59%
Factor Strategies
Growth	18.69%	50.65%	13.19%	53.45%	11.33%	44.07%	21.17%	21.88%	9.73%	42.04%	15.17%	46.82%
Value	60.18%	22.16%	63.78%	23.33%	56.07%	14.74%	41.96%	29.66%	74.46%	19.12%	46.31%	13.82%
Momentum	21.13%	27.19%	23.04%	23.22%	32.60%	41.19%	36.86%	48.46%	15.80%	38.84%	38.51%	39.36%
R2	0.9167	1.0049	0.8936	0.9877	0.9052	0.9954	0.9041	0.8967	0.923	0.9272	0.9492	0.9408
Tracking Error	0.56%	0.11%	0.88%	0.85%	0.16%	0.48%	0.27%	0.15%	0.32%	0.77%	0.80%	0.93%
Sector
Manufacturing	27.60%	37.96%	19.07%	42.41%	19.10%	30.40%	11.11%	23.22%	13.19%	26.93%	21.13%	26.75%
Utilities	16.62%	12.73%	13.46%	13.14%	24.31%	22.02%	25.19%	22.72%	26.13%	24.31%	22.18%	16.15%
Mining, Construction and Chemicals	11.19%	20.85%	15.89%	11.42%	20.11%	16.96%	15.29%	8.89%	16.00%	8.11%	9.36%	6.67%
Wholesale and Retail	37.34%	17.27%	41.11%	19.78%	21.27%	27.16%	40.06%	36.97%	37.13%	37.52%	46.19%	46.33%
Services	7.24%	11.19%	10.47%	13.25%	15.20%	3.46%	8.36%	8.20%	7.55%	3.14%	1.16%	4.10%
R2	0.8976	0.8601	0.864	0.9264	0.8697	0.8594	0.839	0.8572	0.8802	0.8582	0.9134	0.9046
Tracking Error	0.43%	0.47%	0.35%	0.83%	0.76%	0.82%	0.62%	0.76%	0.47%	0.77%	0.49%	0.94%