Performance Comparative Analysis of Sharia Mutual Funds and Conventional Mutual Funds
DOI:
https://doi.org/10.58777/rie.v1i1.72Keywords:
Share Islamic mutual funds, conventional stock mutual funds, mixed sharia mutual funds, mixed conventional mutual fundsAbstract
This study aims to compare the performance assessment of Islamic and conventional mutual funds for 2017-2021. This study uses quantitative research, which analyzed the performance of Islamic and conventional mutual funds for 2017-2021. This study relies on secondary data collected from the official website of the Financial Services Authority (OJK). The research compares the performance of Islamic stock mutual funds, mixed mutual funds (comprising both Islamic and conventional funds), and mixed conventional mutual funds using the Sharpe, Treynor, and Jensen methods. Among these methods, the Sharpe method stands out as providing a superior performance evaluation compared to Treynor and Jensen. Both Islamic and conventional stock mutual funds receive a positive assessment, deemed as "good." However, in the case of mixed sharia mutual funds and conventional mutual funds, the former is considered to have a better assessment due to its perceived safety, offering a more secure alternative compared to conventional mutual funds, which carry higher risk.
References
Abdallah. (2018). Pasar Modal Syariah. Jakarta: PT Elek Media Komputindo.
Arifardhani. (2020). Hukum Pasar Modal di Indonesia. Jakarta: Kencana.
Bilgies, A., Fauzan, R., Santosa, P. W., & Wahyuni, S. (2023). Manajemen Keuangan Islam. In D. P. Sari (Ed.), Repository.ibs.ac.id (First). GlobalL Eksekutif Teknologi. http://repository.ibs.ac.id/4464/%0Ahttp://repository.ibs.ac.id/4464/1/Bukti Pengajaran MKI.pdf
Handayani, T. U., Santosa, P. W., & Setianingrum, A. (2019). Perbandingan Kinerja Reksadana Konvensional dengan Syariah. JEBA (Journal of Economics and Business Aseanomics), 4(2), 77–92. https://doi.org/10.33476/j.e.b.a.v4i2.1242
Hartati, S. I., Kalsum, U., & Kosim, B. (2022). Perbedaan Kinerja Keuangan Sebelum dan Sesudah Pandemi Covid-19 pada Perusahaan Sektor Kesehatan yang Terdaftar di BEI. Journal of Management Small and Medium Enterprises, 15(2), 137-155, https://doi.org/10.35508/jom.v15i2.6593
Juwita, R., Ghofur, R. A., & Anggraini. (2021). Comparison of Sharia Performance and Conventional Mutual Funds In Forming Optimal Portfolio. Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah, 4(2), 655-672. https://doi.org/10.47467/alkharaj.v4i3.711
Jones, C. P. (2014). Investments: Principles and Concepts (12th ed.). Wiley & Sons Inc.
Kusumayanti. (2018). Reaksi Pasar Modal Indonesia Terhadap Pengumuman Kemenangan Donald Trump Dalam Pilpres Amerika Serikat 2016. E Jurnal Manajemen, 7(4). https://doi.org/10.24843/EJMUNUD.2018.v07.i04.p01
Liu, H., Manzoor, A., Wang, C., Zhang, L., & Manzoor, Z. (2020). The COVID-19 Outbreak and Affected Countries Stock Markets Response. International Journal of Environmental Research and Public Health, 17(8), 1–19. https://doi.org/10.3390/ijerph17082800
Manurung, D., & Subekti, K. V. (2021). Pengaruh Pandemi Covid-19 Terhadap Kinerja Harga Saham Telekomunikasi Yang Tercatat Di Bursa Efek Indonesia. Jurnal Akuntansi Manajerial, 6(1), 1-12. https://doi.org/10.52447/jam.v6i1.4591
Nurmasari, I. (2020). Dampak Covid-19 Terhadap Perubahan Harga Saham dan Volume Transaksi (Studi Kasus Pada PT. Ramayana Lestari Sentosa, Tbk.). Jurnal Sekuritas (Saham, Ekonomi, Keuangan dan Investasi), 3(3), 230-236. http://dx.doi.org/10.32493/skt.v3i3.5022
Pastor, L., Vorsatz, M. B., & Pontiff, J. (2020). Mutual Fund Performance and Flows during the COVID-19 Crisis. The Review of Asset Pricing Studies, 10(4), 791-833. https://doi.org/10.3386/w27551
Putra , P. B., & Mawardi, I. (2016). Perbandingan Kinerja Reksa Dana Syariah Di Indonesia Menggunakan Metode Sharpe. Jurnal Ekonomi Syariah Teori dan Terapan, 3(9), 683- 684. https://doi.org/10.20473/vol3iss20169pp683-698
Qomariah, N., Sari, I. M., & Budiarti, D. A. (2016). Perbandingan Kinerja Reksadana Syariah Dan Reksadana Konvensional (Pada Reksadana Saham Dan Reksadana Pendapatan Tetap Yang Terdaftar Di BEI Periode 2010-2014). Jurnal Keuangan Dan Perbankan, 20(3), 417–427. https://doi.org/10.26905/jkdp.v20i3.273
Rahmah, Mas. (2019). Hukum Pasar Modal. Jakarta: Kencana.
Rapini, Titi, Farida, Umi & Putro, Rizki Listyono (2021). Eksistensi Kinerja Reksadana Syariah Pada Era New Normal. Jurnal Tabarru': Islamic Banking and Finance, 4(2), 356-368. https://doi.org/10.25299/jtb.2021.vol4(2).7422
Rizal., David., Shabri, H., & Nengsih, I. (2021). Pengaruh Inflasi, BI Rate, Nilai Tukar, dan Jumlah Reksadana Terhadap Nilai Aktiva Bersih (NAB) Reksadana Syariah dan Konvensional di Indonesia. Al-Mashrafiyah: Jurnal Ekonomi, Keuangan, Dan Perbankan Syariah, 5(2), 15-27. https://doi.org/10.24252/al-mashrafiyah.v5i2.22783
Rudiyanto. (2016). Seri Panduan Investasi Reksadana untuk pemula. Jakarta: PT Elek Media Komputindo.
Sanaullah, Dr. Amna Noor, Salleh Khan, & Muhammad Shahbaz Khan. (2021). An Empirical Investigation of the Performance of Mutual Fund Managers in Pakistan. RASD Journal of Management, 3(1). https://doi.org/10.52131/jom.2021.0301.0026
Santosa, P. W., & Laksana, H. Y. (2011). Value at Risk, Market Risk, and Trading Activity: CAPM Alternative Model. Journal of Applied Finance & Banking, 1(4), 239–268.
Santosa, P. W., & Puspitasari, N. (2019). Corporate Fundamentals, Bi Rate, And Systematic Risk: Evidence From Indonesia Stock Exchange. Jurnal Manajemen, 23(1), 40–53. https://doi.org/10.24912/jm.v23i1.443
Sebo, S. S., & Nafi, M. 2021. Pengaruh Inflasi, Nilai Tukar, Suku Bunga, Dan Volume Transaksi Terhadap Harga Saham Perusahaan Pada Kondisi Pandemi Covid-19. Jurnal Akuntansi Dan Perpajakan, 6(2), 113–126. https://doi.org/10.26905/ap.v6i2.5358
Tandelilin, Eduardus. (2017). Pasar Modal Manajemen Portofolio & Investasi. Depok: PT. Kanisius.
Warella, S. Y., Revida, E., Abdillah, L. A., Pulungan, D. R., Purba, S., Firdaus, E., . . . Kato, I. (2021). Penilaian Kinerja Sumber Daya Manusia. Medan: Yayasan Kita Menulis.
Yudanto, A. A. (2016). Performance Analysis of Sharia and Conventional Mutual Funds During 2008 And 2013 Crisis Periods. Journal Info Artha, 1(1), https://doi.org/10.31092/jia.v1i1.69
Downloads
Published
How to Cite
Issue
Section
Copyright (c) 2023 Nursanita, Willy Yani Pratiwi
This work is licensed under a CC Attribution-ShareAlike 4.0

