Lunate launches Chimera Solactive GCC Shariah Dividend ETF

Lunate has launched the Chimera Solactive GCC Shariah Dividend ETF, a Shariah-compliant, income-focused exchange-traded fund that began trading on the Abu Dhabi Securities Exchange on 23 June 2026 under the ticker GCCDIV. The fund tracks the Solactive GCC Shariah Dividend Index and provides exposure to dividend-paying companies across Qatar, Kuwait, Saudi Arabia and the United Arab Emirates. It is Lunate’s first Chimera ETF created with index provider Solactive.

The Solactive GCC Shariah Dividend Index draws from the Solactive GBS investable universe for the four markets and applies a Shariah screening process based on sector and financial-ratio criteria. Screening data is supplied by IdealRatings. Eligible securities must show positive trailing-12-month dividend per share and a positive indicated annual dividend per share.

The index excludes the bottom 10 percent of securities by 12-month momentum before selecting the 20 highest-ranking names by indicated dividend yield. Buffer rules are applied to reduce turnover. Constituents are weighted by indicated dividend yield and subject to concentration limits. Individual weights are capped at the lower of 15 percent and 30 times a security’s free-float market-cap weight within the index universe. The index is reconstituted annually in May, and companies that no longer meet Shariah criteria may be removed during the year.

Lunate described the ETF as targeting investors seeking dividend income combined with regional equity diversification in a single product covering multiple GCC countries.

Timo Pfeiffer, Solactive’s chief markets officer, commented: “The Solactive GCC Shariah Dividend Index combines dividend focus, a momentum overlay, and a clearly defined Shariah framework to provide investors with a differentiated way to access dividend-focused exposure across GCC equity markets.” Sherif Salem, partner and head of public markets at Lunate, said the firm intends the ETF to give investors access to multiple GCC markets in one dividend-paying product and to expand Lunate’s range of market and thematic ETFs.