Abu Dhabi | EcoPulse24

The Abu Dhabi Securities Exchange (ADX) has welcomed the listing of the Chimera Solactive GCC Shariah Dividend ETF (GCCDIV), a first-of-its-kind investment product that provides investors with diversified exposure to dividend-paying, Shariah-compliant companies across Gulf Cooperation Council (GCC) markets.

Developed by Abu Dhabi-based global investment manager Lunate, the exchange-traded fund represents the fourth ETF listing on ADX this year and raises the total number of ETFs listed on the exchange to 24, further strengthening ADX's position as the Middle East's most active and liquid ETF market.

The new fund offers investors exposure to leading companies across the United Arab Emirates, Saudi Arabia and Qatar through a single investment vehicle.

First Shariah Dividend ETF Covering Multiple GCC Markets

According to ADX and Lunate, GCCDIV is the world's first Shariah-compliant ETF designed to provide access to multiple GCC equity markets within a single dividend-oriented product.

The ETF tracks the Solactive GCC Shariah Dividend Index, which has an underlying market capitalization of approximately $1.49 trillion.

The index combines three key investment criteria:

• Shariah compliance screening;

• Dividend-focused stock selection;

• A 12-month momentum overlay.

The strategy seeks to identify financially strong companies capable of delivering more sustainable income streams to investors.

The index currently includes four companies listed on the Abu Dhabi Securities Exchange:

• Borouge

• Dana Gas

• Lulu Retail

• Sharjah Islamic Bank

The fund also carries an indicative dividend yield of 6.2%.

Single Gateway to High-Growth Gulf Economies

The ETF aims to simplify access to some of the Gulf region's largest publicly traded companies.

Through a single listed product, investors can gain exposure to cash-generative businesses operating across sectors including:

• Energy;

• Materials;

• Banking;

• Retail.

The structure also removes many of the operational complexities traditionally associated with cross-border investing, including maintaining multiple trading accounts and navigating different settlement frameworks.

The product is available to both retail and institutional investors.

ADX Continues Rapid ETF Expansion

The listing comes amid strong growth in Abu Dhabi's ETF market.

According to ADX, ETF trading value increased by 156% year-on-year during the first five months of 2026 to reach AED 184 million.

Over the same period:

• Trading volume surged 152% to more than 33 million units;

• The number of trades increased 156% to exceed 15,000 transactions;

• Total ETF market capitalization reached AED 27.5 billion by the end of May.

The figures underscore growing investor demand for diversified and exchange-traded investment products in the UAE and across the region.

Lunate Expands Its ETF Platform

Lunate said the listing marks its 20th ETF on ADX and its 11th Shariah-compliant ETF, reinforcing its strategy of developing innovative investment products for both individual and institutional investors.

The company said the new product expands its suite of market and thematic ETFs and supports portfolio construction through diversified, income-oriented investment solutions.

EcoPulse24 Analysis | The GCC Is Becoming an Investable Regional Asset Class

The significance of GCCDIV extends beyond the launch of another exchange-traded fund.

The listing reflects the gradual transformation of Gulf capital markets into a more integrated investment ecosystem.

Historically, investors seeking exposure to GCC equities often needed to navigate multiple exchanges, custody arrangements and regulatory frameworks across different jurisdictions.

Products such as GCCDIV significantly reduce those frictions by offering diversified regional exposure through a single, transparent instrument.

The launch also highlights the growing sophistication of Islamic capital markets.

Combining Shariah screening with dividend strategies and cross-border diversification addresses rising demand from investors seeking both income generation and faith-based investment solutions.

Equally important, the rapid expansion of ADX's ETF market suggests that passive and exchange-traded investment products are becoming increasingly central to the evolution of Gulf capital markets.

As regional economies continue to diversify and capital markets deepen, products such as GCCDIV may play an increasingly important role in attracting international capital and positioning the GCC not merely as a collection of separate markets, but as a recognizable regional investment asset class.