%A NIM.: 22108030046 Novi Tsania Fitriana NIM. 22108030046 %O Dr. Mukhamad Yazid Afandi, M.Ag %T DETERMINAN KINERJA INVESTASI DANA HAJI DI INDONESIA: STUDI EMPIRIS PADA BADAN PENGELOLA KEUANGAN HAJI (BPKH) PERIODE 2018–2024 %X The fluctuation of BPKH’s ROI (5,31% - 7,22%) amidst rising AUM underlies this research. This Study aims to analyze the relationships between mandatory liquidity, the investment ratio, and total managed funds with ROI for the 2018–2024 period. A quantitative approach utilizing secondary data was employed, with analysis conducted via the Kendall’s Tau-b correlation test. The results indicate that mandatory liquidity has a negative relationship with ROI, whereas the investment ratio and total managed funds exhibit a positive relationship; however, none of these relationships are statistically significant. These findings provide empirical insight into the relationship between internal factors and the investment performance of Hajj funds. %K Dana Haji; BPKH; ROI; Likuiditas, Rasio Investasi; Kendall’s Tau-b %D 2026 %I UIN SUNAN KALIJAGA YOGYAKARTA %L digilib78505