There is no significant difference between the performance of FTSE Bursa Malaysia EMAS Shariah (FBMS) and Indonesia Sharia Stock Index (ISSI) using Sharpe, Treynor, and Jensen ratios.

Comparative study between the performances of two Islamic indices - Study on FTSE Bursa Malaysia EMAS Shariah (FBMS) and Indonesia Sharia Stock Index (ISSI)

Nifty Shariah and Nifty indices in India perform similarly, with both underperforming risk-free rates of return and having low volatility.

Equanimity of Risk and Return Relationship between Shariah Index and General Index in India

Shariah indices outperform conventional indices in Bangladesh, with risk-adjusted returns showing a dominance over conventional indices.

Do ‘Shariah’ indices surpass conventional indices? A study on Dhaka Stock Exchange

Standardization of Sharia screening processes is needed to improve the development of Islamic capital markets worldwide.

Sharia Screening Process: A Comparison of Pakistan and Malaysia

Sharia index returns in the Indian stock market are more influenced by risk-based explanations than investor sentiment, with macro variables playing a significant role and sentiment pricing not significant after controlling for systematic risk factors.

Does Shariah index hedge against sentiment risk? Evidence from Indian stock market using time–frequency domain approach

The revised Shariah screening methodology of Malaysia's SAC and international indices show similarity, but further discussions on implications and detail filters are needed for convincing international investors.

DISPUTES AND RESEMBLANCE: COMPARATIVE ANALYSIS OF SHARIAH ADVISORY COMMITTEE METHODOLOGY AND INTERNATIONAL INDICES

Shariah indices provide better returns and lesser risk than their underlying indices, making them a better option for portfolios.

Modelling the Return of Shariah with Underlying Indices of National Stock Exchange of India: A Case of 3SLS and GMM Estimation

Current Shariah screening procedures are inconsistent, highlighting the need for a standardized framework to improve the credibility and consistency of Islamic equity products.

Review and analysis of current Shariah‐compliant equity screening practices

There is a reciprocity between India's Shariah indices, Nifty 500 and S&P BSE 500, but no relationship between IDX Shariah and Jakarta Islamic Index.

Findriver- Driven Relationship among Shariah Compliant Indian and Indonesian Indices – An Empirical Evidence using Granger Causality

Asian Shariah assets have been a perfect hedge against market shocks over the last decade, with significant time-dependent connections between regional and world Shariah indices.

Time-Frequency Connectedness between Shariah Indices in a Systemic Crisis Era

Higher commonality among Shariah board members leads to similar performance and risk-return profiles, with the economic educational background of board members affecting performance in terms of Jensen's alpha.

The Effects of Shariah Board Composition on Islamic Equity Indices' Performance

Sharia-compliant indices in India underperformed conventional indices during the study period, while Malaysia outperformed during financial crises.

Performance of Shariah Compliant Index: A Comparative Study of India and Malaysia

Islamic and conventional stock markets show high synchronization, except for Indonesia, suggesting that Islamic finance mechanisms and products are similar to conventional systems.

Islamic versus conventional stock market Indices synchronization

ADIB meets the most Islamic reporting indicators, followed by BIMB, BMI, ABG, and IIAB, but these banks still do not meet the criteria for reporting and calculating Islamic performance as a whole.

Islamicity Disclosure Index for Shariah Banking: A Case

Shariah indices in Pakistan are weak-form efficient, while China's Shariah indices are not, making them a good option for optimum investment.

Random Walk Hypothesis: An Empirical Comparison of Shari’ah and Non-Shari’ah Capital Markets of Pakistan and China

Sukuk bond indices and shariah stock indices in the GCC region show a strong correlation, with positive associations in the short term and negative associations in the long term, offering portfolio diversification opportunities.

A Wavelet-Based Analysis of the Co-Movement between Sukuk Bonds and Shariah Stock Indices in the GCC Region: Implications for Risk Diversification

This paper proposes a unified model for shariah-led prosperity measures, bridging Islamic development indices and United Nations Millennium and Sustainable Development goals to achieve prosperity through religiosity.

A Unified Model of Shariah Indices for Human Development and Prosperity

The Sharpe model accurately reveals the performance differences between Islamic mutual funds in Indonesia and Malaysia for the 2017-2018 period, outperforming the Trenor and Jensen models.

Study Of Performance Comparison of Sharia Shares In Indonesia And Malaysia: Sharpe, Treynor and Jensen Models

This paper proposes modifications to the ASIIP's Shariah screening criterion to improve its robustness and bridge the gap between practical aspects and its Shariah basis, contributing to the future progression of Pakistan's Islamic capital market.

Towards a Robust Shariah Screening Criterion for Stocks

There is no structural break in the mean of Malaysian Shariah compliant indices, but structural breaks are only reported in the variance of the data series.

Structural Breaks in Malaysian Shariah Compliant Indices

what are the differences and similarities between the shariah indices

These studies suggest that Shariah indices in different regions show similar performance metrics to their conventional counterparts, with some outperforming in specific markets like Bangladesh, and highlight the need for standardized Sharia screening processes.