Shareholder Report | 12 Months Ended |
Jun. 30, 2024 USD ($) Holdings |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | AZZAD FUNDS |
Entity Central Index Key | 0001031008 |
Entity Investment Company Type | N-1A |
Document Period End Date | Jun. 30, 2024 |
Azzad Ethical Fund | |
Shareholder Report [Line Items] | |
Fund Name | Azzad Ethical Fund |
Class Name | Azzad Ethical Fund |
Trading Symbol | ADJEX |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | ADDITIONAL INFORMATION This annual shareholder report Azzad Ethical Fund https://azzadasset.com 1-888-862-9923 |
Additional Information Phone Number | 1-888-862-9923 |
Additional Information Website | https://azzadasset.com |
Expenses [Text Block] | expense Information What were the Fund costs for the past year? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment* Azzad Ethical Fund $102 0.99% *Annualized |
Expenses Paid, Amount | $ 102 |
Expense Ratio, Percent | 0.99% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year? Performance Highlights · The Fund returned 5.66% for the 12-month period ending June 30, 2024. · It underperformed compared to the Russell MidCap® Growth Index and the Russell 3000 Index, which returned 15.05% and 23.13%, respectively. · Underperformance is largely attributed to the sub-adviser's allocation and stock selection. Sector Positioning · The Fund had overweights in Information Technology (IT) and Industrials, both of which contributed positively to performance. · Allocation to the Health Care and Real Estate sectors detracted from relative performance. Other factors affecting Fund performance · The sub-adviser employs a bottom-up stock selection approach, focusing on profitable, lower-debt companies. This was not rewarded during the period. · Market speculation around a potential recession impacted returns during the period as holdings are selected for growth throughout market cycles, not tactical advantage. The Fund sub-adviser did not tilt toward speculative investments, opting instead to concentrate on business fundamentals |
Performance Past Does Not Indicate Future [Text] | Past performance is not a good predictor of future performance |
Net Assets | $ 146,300,000 |
Holdings Count | Holdings | 60 |
Advisory Fees Paid, Amount | $ 909,234 |
Investment Company, Portfolio Turnover | 24.49% |
Additional Fund Statistics [Text Block] | Fund statistics NET ASSETS: $146.3 PORTFOLIO HOLDINGS: 60 PORTFOLIO TURNOVER: 24.49% ADVISORY FEES PAID BY FUND: $909,234 |
Holdings [Text Block] | top ten holdings 1. Cadence Design Systems, Inc. 3.86% 2. CoStar Group, Inc. 3.49% 3. Pinterest, Inc. 3.41% 4. Crowdstrike Holdings, Inc. Class A 3.10% 5. Monolithic Power Systems, Inc. 3.07% 6. DexCom, Inc. 3.00% 7. Teradyne, Inc. 2.62% 8. Quanta Services, Inc. 2.55% 9. The Trade Desk, Inc. Class A 2.42% 10. HEICO Corp. 2.37% Total % of Net Assets 29.89% |
Material Fund Change [Text Block] | The Fund has not had any material changes during the year ended June 30, 2024 |
Updated Prospectus Phone Number | 1-888-862-9923 |
Updated Prospectus Web Address | https://azzadasset.com |
Azzad Wise Capital Fund | |
Shareholder Report [Line Items] | |
Fund Name | Azzad Wise Capital Fund |
Class Name | Azzad Wise Capital Fund |
Trading Symbol | WISEX |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | ADDITIONAL INFORMATION This annual shareholder report Azzad Wise Capital Fund |
Expenses [Text Block] | expense Information What were the Fund costs for the past year? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment* Azzad Wise Capital Fund $91 0.89% *Annualized |
Expenses Paid, Amount | $ 91 |
Expense Ratio, Percent | 0.89% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year? Performance highlights · The Fund returned 4.22% for the year ending June 30, 2024. · 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%. Sector positioning · 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. · UAE real estate sukuk was a top performer due to interest rate volatility positioning by the sub-adviser. · Security selection in Saudi Arabia and Indonesia contributed positively to performance. · Sub-investment grade GCC sukuk from Bahrain and Oman contributed to performance in the high-yield segment. · The Fund’s minority allocation to equities detracted from performance during the period. · The Health Care, Real Estate, and Consumer Defensive sectors were among the top detractors from performance within equities. Other factors affecting Fund performance · U.S. Federal Reserve Chair Powell announced during the period that the central bank’s peak interest rate target had been met. · Globally, rate cuts improved credit spreads and reduced funding risk for emerging market, high-yield, and investment-grade bonds. Higher beta assets in the Fund performed well due to improved credit spreads. |
Performance Past Does Not Indicate Future [Text] | Past performance is not a good predictor of future performance |
Net Assets | $ 266,000,000 |
Holdings Count | Holdings | 129 |
Advisory Fees Paid, Amount | $ 1,808,237 |
Investment Company, Portfolio Turnover | 36.30% |
Additional Fund Statistics [Text Block] | Fund statistics NET ASSETS: $266.0 PORTFOLIO HOLDINGS: 129 PORTFOLIO TURNOVER: 36.30% ADVISORY FEES PAID BY FUND: $1,808,237 |
Holdings [Text Block] | top ten holdings 1. Esic Sukuk Ltd., 3.939%, 07/30/2024 3.08% 2. IDB Trust Services, Ltd. REGS, 1.957%, 10/02/2024 2.26% 3. Aldar Sukuk Ltd., 4.750%, 09/29/2025 2.23% 4. TNB Global Ventures Cap., Sr. Unsecd. Note, Series EMTN, 3.244%, 10/19/2026 2.15% 5. Axiata Spv2 Bhd, 4.357%, 03/24/2026 2.07% 6. DIB Sukuk, Ltd., Sr. Unsecd. Note, 2.950%, 02/20/2025 2.03% 7. MAF Sukuk Ltd., Sr. Unsecd. Note, 4.500%, 11/03/2025 1.86% 8. Perusahaan Penerbit SBSN Indois Sukuk, Series 144A, 4.150%, 03/29/2027 1.83% 9. MayBank Islamic Bank (Malaysia), 5.420%, 09/18/2024 1.54% 10. QIB Sukuk, Ltd., Unsecd. Note, 5.581%, 11/22/2028 1.51% Total % of Net Assets 20.56% |
Material Fund Change [Text Block] | The Fund has not had any material changes during the year ended June 30, 2024 |
Updated Prospectus Phone Number | 1-888-862-9923 |
Updated Prospectus Web Address | https://azzadasset.com |