Invesco Lists Sterling Share Class for Shariah Global ETF on London Stock Exchange

Feb 20, 2026

Minute Read

Invesco has listed an additional share class on the London Stock Exchange for its recently launched Shariah-compliant global equity ETF.

By ETFWorld.co.uk

Matthew Tagliani, Head of ETF Product EMEA at Invesco

The new sterling-denominated share class, priced in pence (GBX), began trading on 19 February 2026.

The fund, the Invesco MSCI ACWI Islamic M Series UCITS ETF, initially listed on the LSE on 13 February 2026 with a US dollar share class (ticker: MWIM). The addition of the GBX share class provides UK domestic investors with a direct sterling trading option, removing currency conversion costs on the exchange.

Product Background

The ETF tracks the MSCI ACWI Islamic M Series index, which provides exposure to large and mid-cap stocks across developed and emerging markets that pass Shariah screening criteria . The total expense ratio (TER) is 0.35% .

This is Invesco’s second Shariah-compliant ETF in Europe. The firm’s first Islamic fund, which focuses on developed markets, has accumulated $1.1 billion in assets under management .

Screening Methodology

The index provider applies a two-stage filter to the parent MSCI All Country World Index. Companies are excluded if they derive more than 5% of their revenue from activities prohibited under Islamic law, including alcohol, conventional financial services, gambling, and entertainment .

A second screen removes companies with high leverage or significant interest income, based on financial ratio thresholds. The index also includes a dividend purification mechanism, where a portion of dividends attributable to non-compliant income is deducted and donated to charity .

These screens significantly alter sector weights. Financials, which represent approximately one-fifth of the conventional MSCI ACWI index, account for just 0.4% of the Shariah-compliant version .

Market Context

The launch adds to a growing segment of faith-based investing in Europe. The ETF offers broad global diversification while adhering to Islamic investment principles, competing with similar products from other asset managers targeting the Muslim investor demographic and ethical investors seeking interest-free exposure.