Every Muslim should be an investor. Here’s how to start.
Choosing Your Approach
Managed vs Robo vs Self-Directed Investing
Investment Style | Managed | Robo | Self-Directed (DIY) |
Passive | A professional advisor handles your investments and makes minimal changes to your portfolio. You get access to ongoing financial consultation.
Example: Manzil Wealth, Shariah Portfolio Passive Management | An automated service creates and maintains a Shariah-compliant portfolio for you. Example: Wealthsimple Managed Halal Portfolio, Manzil Invest. | You choose and manage your own Halal ETFs, buying and holding them with minimal trading. Example: Halal ETFs purchased directly through brokerage (e.g., Wealthsimple Trade, Questrade). |
Active | A professional advisor actively buys and sells investments, trying to outperform the market. You get access to ongoing financial consultation. Example: TD Wealth, RBC Wealth Management, IG Wealth Management, Shariah Portfolio Active Management, etc | N/A | You research and trade individual Shariah-compliant stocks or other securities, trying to make gains by buying and selling at the right times.
Example: Individual stocks bought and sold directly through brokerage (e.g., Wealthsimple Trade, Questrade). |
Self-Directed Resources
Brokerage Options
Name | Type | Service Category | Website |
|---|
Halal ETF List
Ticker | Name | Focus | Listing | Fee | Explanation | Non-Halal ETF Analog |
|---|---|---|---|---|---|---|
Wealthsimple Shariah World Equity Index ETF | Global Large Blend | CA 🇨🇦 | 0.56% | Global Shariah-compliant stocks focusing on ethical investments. | Vanguard Total World Stock ETF (VT) | |
Wahed FTSE USA Shariah ETF | US Large Growth | US 🇺🇸 | 0.50% | Invests in large U.S. companies with a focus on tech, similar to QQQ but Shariah-compliant. | Vanguard FTSE USA ETF (VUSA) | |
SP Funds Dow Jones Global Sukuk ETF | Global Bond | US 🇺🇸 | 0.55% | Invests in global Sukuk, a Shariah-compliant bond alternative. | iShares Global Aggregate Bond ETF (AGGG) | |
SP Funds S&P Global REIT Shariah ETF | Global Real Estate | US 🇺🇸 | 0.55% | Invests in Shariah-compliant global real estate properties. | Vanguard Global ex-US Real Estate ETF (VNQI) | |
SP Funds S&P Global Technology ETF | Global Technology | US 🇺🇸 | 0.55% | Targets global tech companies that adhere to Islamic law. | Technology Select Sector SPDR ETF (XLK) | |
SP Funds S&P World ETF | Global Large Blend | US 🇺🇸 | 0.55% | Diversified global investments excluding haram sectors. | iShares MSCI World ETF (URTH) | |
SP Funds S&P 500 Shariah Industry Exclusions ETF | US Large Growth | US 🇺🇸 | 0.45% | Invests in large U.S. companies excluding haram industries. | SPDR S&P 500 ETF (SPY) | |
Wahed Dow Jones Islamic World ETF | Global Large Growth | US 🇺🇸 | 0.65% | Invests in large global companies following Islamic guidelines. | iShares MSCI ACWI ETF (ACWI) |
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Written by Farooq Maseehuddin
Farooq Maseehuddin is the founder of MuslimMoney.co, a Canadian platform dedicated to helping Muslims take control of their personal finances.
He teaches across a range of topics including budgeting, investing, financial planning, Islamic inheritance, money conversations in families, and how to teach kids about money—all through both practical tools and traditional Islamic guidance.
Farooq holds a B.Ed. and M.Ed. from the University of Alberta and has spent nearly two decades as a high school teacher and Muslim community organizer.