This research aims to explain the correlation between macroeconomics and company fundamentals on the returns from the placement of funds in Islamic stocks against the Jakarta Islamic Index (JII) from 2011 to 2020. The method used in this study is quantitative. The sample used considers eight sharia issuers using the purposive sampling method. The data analysis technique used is panel data regression analysis. The results of this study indicate that macroeconomic factors and company fundamentals simultaneously influence sharia stock returns. Meanwhile, this study partially found mixed results, including inflation and ROA having a significant effect on Islamic stock returns. In contrast, GDP and DER don’t significantly affect Islamic stock returns
