Citation:

Hayu Razaq Tejawati, Doddy Setiawan, Waluyo. "Comparative Analysis of Performance of Sharia and Conventional Mutual Funds Based on Risk and Results (In Banks Listed on the IDX for the 2018-2023 Period)" International Research Journal of Economics and Management Studies, Vol. 3, No. 4, pp. 1-9, 2024.

Abstract:

The purpose of this study is to compare the risk and reward performance of Sharia mutual funds and traditional mutual funds in businesses listed on the IDX for the years 2018–2023. The Sharpe, Jensen, and Treynor variables, as well as the average distinction test with the independent sample t-test method and the SPSS software, are used in this study to measure performance. This kind of study uses a quantitative approach and is descriptive in nature. The population in this research is Sharia mutual funds and conventional mutual funds registered on the IDX for the 2018-2023 period. This research used a purposive sampling technique. The data in this research uses secondary data. The data analysis technique used in this research is descriptive analysis. The research results show that the performance of Sharia mutual funds is superior to the performance of conventional mutual funds using the Sharpe, Treynor, and Jensen methods. However, if measured using the independent sample t-test method with the SPSS program, the performance of Sharia and conventional mutual funds does not have a significant difference.

References:

[1] Almeida, CS de, Miccoli, LS, Andhini, NF, Aranha, S., Oliveira, LC de, Artigo, CE, Em, AAR, Em, AAR, Bachman, L., Chick, K., Curtis, D., Peirce, B.N., Askey, D., Rubin, J., Egnatoff, D.W.J., Uhl Chamot, A., El‐Dinary, P.B., Scott, J.; Marshall, G., Prensky, M., ... Santa, UF De. (2016). No主観的 健康感を中心とした在宅高齢者における 健康関連指標に関する共分散構造分析Title. Revista Brasileira de Linguística Aplicada, 5(1), 1689– 1699.
[2] https://revistas.ufrj.br/index.php/rce/article/download/1659/1508%0Ahttp://hipatiapress.com/hpjournals/index.php/qre/article/view/1348%5Cnhttp:// www.tandfonline.com/doi/abs/10.1080/09500799708666915%5Cnhttps://mckinseyonsociety.com/downloads/reports/Educati
[3] Artini, LGS (2023). Comparison of Conventional Stock Mutual Funds with Sharia Stock Mutual Funds. Udayana University Economics and Business E-Journal, 12(02), 241. https://doi.org/10.24843/eeb.2023.v12.i02.p09
[4] Caisar, J., Andriana, I., & Thamrin, Kemas M. Husni. (2022). Comparative Analysis of the Performance of Conventional Equity Mutual Funds with Sharia Shares. Al-Kharaj: Journal of Sharia Economics, Finance & Business, 5(1), 96–110. https://doi.org/10.47467/alkharaj.v5i1.1103
[5] Darmayanti, NPA, Suryantini, NPS, Rahyuda, H., & Sayu Ketut Sutrisna Dewi. (2017). Ni Putu Santi Suryantini Henny Rahyuda Sayu Ketut Sutrisna Dewi Management Study Program, Faculty of Economics and Business, Udayana University, Bali, Indonesia Article Info Abstract COMPARISON OF MUTUAL FUND PERFORMANCE WITH SHARPE, TREYNOR, AND JENSEN ME. 17, 93–107.
[6] Firmansyah, L. (2020). Application and Development of Sharia Mutual Funds. AKSY: Journal of Accounting and Sharia Business, 2(1), 67–80. https://doi.org/10.15575/aksy.v2i1.7862
[7] Indrayani, S. (2018). The Influence of Income, Knowledge and Financial Experience on Family Investment Planning Behavior. Journal of Chemical Information and Modeling, 53(9), 1689–1699.
[8] Indriani, R. (2021). Indriani, Budyastuti 2021. 1(1), 63–76.
[9] Jensen, DAN, Masa, S., Yul, D., & Permadhy, T. (2022). New Performance Analysis of Stock Mutual Funds With. 13(1), 53–75.
[10] Lestari, WR (2015). Performance of Islamic stock mutual funds and conventional stock mutual funds. Master of Management Journal, 01(1), 116–128. https://jurnal.darmajaya.ac.id/index.php/jmmd/article/viewFile/531/356
[11] Masruroh, A. (2014). Basic Concepts of Mutual Fund Investment. SALAM: Syar-I Social and Cultural Journal, 1(1). https://doi.org/10.15408/sjsbs.v1i1.1526
[12] Musdalifa. (2016). The Influence of Locus of Control, Financial Knowledge and Income on Investment Decisions of Makassar City People.
[13] Pardiansyah, E. (2017). Investment from an Islamic Economic Perspective: Theoretical and Empirical Approaches. Economica: Journal of Islamic Economics, 8(2), 337–373. https://doi.org/10.21580/economica.2017.8.2.1920
[14] Rahmah, A. (2016). Comparative Analysis of the Performance of Sharia Mutual Funds and the Performance of Conventional Mutual Funds Using the Sharpe, Treynor and Jensen Methods. Journal of Analytica Islamica, 5(1), 20–40.
[15] Rijal Anshori, A., Siti, I., Maulida, R., Himayasari, ND, Syariah, F., & Islam Bandung, U. (2022). Comparative Analysis of Performance Projections for Sharia and Conventional Mutual Funds in the Post-Covid Era Based on Net Asset Value. Scientific Journal of Islamic Economics, 8(02), 1455–1462.
[16] www.indopremier.com
[17] Zamzany, FR, & Setiawan, E. (2018). Comparative Study of the Performance of Conventional and Sharia Equity Mutual Funds in Indonesia. Accountability, 11(2), 305–318. https://doi.org/10.15408/akt.v11i2.8794

Keywords:

Jensen Ratio, Conventional Mutual Funds, Sharpe Ratio, Sharia Mutual Funds, Treynor Ratio.