Introducing our new Indices baskets

đź“Ł Announcements
#1

We’re excited to launch our new Indices baskets, offering an easier way to get instant exposure to the shariah compliant stocks of major market indices.

This includes:

  • S&P 20: The top 20 shariah compliant stocks from the S&P 500 index, representing the largest US companies by market cap.
  • Nasdaq 20: The top 20 shariah compliant stocks from the Nasdaq 100 index, covering major technology and internet companies.
  • Dow 10: The top 10 shariah compliant stocks from the Dow Jones Industrial Average index, representing the largest US blue chips.
  • Russell 20: The top 20 shariah compliant stocks from the Russell 2000 index, offering broad exposure to US small-cap companies

Our stock baskets feature has become a real crowd favorite, allowing Zoya users to instantly build diversified portfolios around different themes and strategies with just a few taps. We have some exciting updates coming soon to make baskets even more powerful and customizable. Stay tuned!

Check it out :calling:

Indices baskets on Zoya

2 Likes
#2

Salam,

I’d heard of the concept of creating and sharing a basket of stocks, but would like to know more about the logistics.

Some questions about them:

  1. Most baskets I see are equal weighted, but some aren’t (Buffet fund is mostly Apple, then there are companies that are only 1%). What is the reason to do one vs the other? Is it for giving better diversification with a limited number of stocks?

  2. How often do the index baskets get updated and is it done “passively” i.e. software just picks the top N stocks found in the index at that time that pass the compliance filter?

  3. How can rebalancing be done in a way to limit taxes? Does Alpaca have smarts built in to do that in a push button way?

Is there some article or video that can explain how easy or hard it is to deal with tracking a basket in a tax efficient way? Wanting to avoid the hassle of thinking about rebalancing and tax implications is why I haven’t tried baskets yet.

Also does anyone have experience importing tax records from Alpaca to TurboTax?

I read Robinhood is supported but I didn’t see that when going to the “buy” option in the Zoya app, just Alpaca. Has anyone tried both and can recommend one over the other?

Ultimately I think the deciding factor for me to try using baskets, besides ease of use, is if I knew the tax hit of rebalancing is less than the overhead fees of an ETF (otherwise I understood ETFs generally operate in a way that is more tax efficient).