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Performance

Daily Price (NAV)

12/6/2016 Ticker Price Change
Azzad Ethical Fund ADJEX $12.61 $0.05
Azzad Wise Capital Fund WISEX $10.35 $0.01

Quarterly Performance

As of 09/30/2016 TOTAL RETURNS AVERAGE ANNUALIZED RETURNS
Quarter YTD 1 Year 5 Year 10 Year Since Inception*
Azzad Ethical Fund 3.48% 2.89% 3.67% 11.09% 7.07% 4.87%
Russell MidCap® Growth Index 4.59% 6.84% 11.24% 15.83% 8.51% 6.01%
Morningstar Mid-Cap Growth Category® 4.79% 4.92% 8.42% 13.45% 6.91% 4.28%
* Returns for less than one year are not annualized.
   Since 12/22/2000

Quarterly Performance

As of 09/30/2016 TOTAL RETURNS AVERAGE ANNUALIZED RETURNS
Quarter YTD 1 Year 5 Year Since Inception*
Azzad Wise Capital Fund 0.46% 2.06% 1.99% 2.32% 2.00%
BofAML® US Corp & Govt 1-3 Yr Index 0.03% 1.68% 1.31% 1.11% 1.34%
Morningstar® Short Term Bond Category 0.49% 2.53% 2.11% 1.67% 1.84%
* Returns for less than one year are not annualized.
   Since 4/1/2010
The performance data quoted represents past performance, which is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. To obtain recent month end performance, call 888- 350-3369.

Azzad Asset Management (the “Adviser”) has contractually agreed to limit the total operating expenses of the Azzad Ethical Fund to 0.99% through 12/1/2018 and Azzad Wise Capital Fund to 1.29% through 12/01/2018, excluding indirect expenses. The gross expense ratio for the previous fiscal year ending 6/30/2016 was 1.16% for Azzad Ethical Fund and 1.42% for Azzad Wise Capital Fund. Absent this arrangement, the performance shown would have been lower. For more detailed information on fund expenses, please see the fund’s prospectus.

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Fund Facts

Inception Date: April 1, 2010
CUSIP: 055060305
Ticker Symbol: WISEX
Asset Allocation: Fixed Income
Benchmark: BofAML US Corp & Gov 1-3 yr
Minimum Investment: $4,000
Retirement & College Accounts: $4,000
Add’l automated min. investments*: $300

Shareholder Services: 888-350-3369

2016 Distributions

Month $/Share
January 0.00419
February 0.00377
March 0.01606
April 0.00604

As a shareholder, you are entitled to your share of a Fund’s net income and capital gains on its investments. A Fund is required to pass through substantially all of its earnings along to its investors as distributions. When a Fund earns dividends from stocks and distributes these earnings to shareholders, it is called a dividend distribution. A Fund realizes capital gains when it sells securities for a higher price than it paid. When net long-term capital gains are distributed to shareholders, it is called a capital gain distribution. Net short-term capital gains are considered ordinary income and are included in dividend distributions.

The Funds distribute capital gains, if any, annually. The Azzad Wise Capital Fund (WISEX) distributes dividends, if any, monthly, and the Azzad Ethical Fund (ADJEX) distributes dividends, if any, annually.

IMPORTANT FUND DISCLOSURES

The Morningstar MidCap Growth Category measures the performance of mid-cap funds seeking capital appreciation by investing in mid-sized domestic stocks that are growth-oriented. The US mid-cap range represents the 20% of the US equity market that falls between small caps (the bottom 10% of capitalization) and large caps (the top 70% of capitalization). Growth is defined based on high price/book and price/cash-flow ratios. The Category returns are provided as supplemental information. The Russell Mid Cap Growth Index measures the performance of the mid cap growth segment of the U.S. equity universe. It includes those Russell Mid Cap Index companies with higher price to book ratios and higher forecasted growth values. Russell Investment Group is the source and owner of the Russell Index data contained or reflected in this material and all trademarks and copyrights related thereto. Russell Investment Group is not responsible for the formatting or configuration of this material or for any inaccuracy in Azzad Asset Management’s presentation thereof.

The Morningstar Short-Term Bond Category measures the performance of bond funds investing primarily in corporate and other investment-grade U.S. fixed-income issues and typically have durations of 1.0 to 3.5 years. These portfolios are less sensitive to interest rates than portfolios with longer durations. The Category returns are provided as supplemental information. The Bank of America Merrill Lynch US Corporate and Government Master Index tracks the performance of US dollar-denominated investment grade Government and Corporate public debt issued in the US domestic bond market, excluding collateralized products.