Investing alternatives
ShariaPortfolio Alternatives
6 halal investing providers in the U.S. that compete with ShariaPortfolio, ranked by HalalWallet Index grade, disclosed Shariah oversight, and state coverage. Independent: we are not affiliated with ShariaPortfolio or any provider listed here.
Co-Founder & CEO, HalalWallet
Re-ranked automatically when Index grades, oversight, or coverage change in our database.
The closest alternatives to ShariaPortfolio for halal investing in the U.S. are Wahed Invest, Amana Funds and Azzad Asset Management. Wahed's robo starts at $100 versus Express's $1,000 and is more automated, but ShariaPortfolio offers human advisors, a far deeper fund lineup, and the only US sukuk ETF. The highest HalalWallet Index grade among the alternatives belongs to Manzil (A). Where ShariaPortfolio still wins: The most complete halal fund lineup in America - S&P 500 equity (SPUS), global sukuk (SPSK), REITs (SPRE), global tech (SPTE), and international ex-US (SPWO), all NYSE-listed with no minimums.
- 6 of 13 investing providers we track in the U.S. are ranked here; the rest fell below on Index grade, Shariah oversight, or reviews.
- Index grades among the alternatives: Wahed Invest B, Azzad Asset Management B, Manzil A, SPFunds A-, Allied Asset Advisors B+ (ShariaPortfolio holds B).
- ShariaPortfolio is available nationwide across the U.S., so coverage is not a reason to switch.
- Product types across the alternatives: Index-based, Actively managed, Wealth Management, Shariah-Screened Mutual Fund (ShariaPortfolio: Wealth Management).
- Most common reason to look elsewhere: No standing multi-scholar Sharia supervisory board - oversight rests on AAOIFI adherence, one named Sharia advisor (Shaykh Umer Khan, appointed October 2022), and per-fund accreditation certificates.
Source: HalalWallet (halalwallet.us)
Top 6 ShariaPortfolio alternatives for 2026
- Grade B
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Index-based
- Track record
- Since: 2015 | Google: 4.5/5
vs ShariaPortfolio: Wahed's robo starts at $100 versus Express's $1,000 and is more automated, but ShariaPortfolio offers human advisors, a far deeper fund lineup, and the only US sukuk ETF.
- Not graded
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Actively managed
- Track record
- Since: 1986
vs ShariaPortfolio: Amana has the longest halal track record (since 1986) and a formal Fiqh Council relationship, but offers actively managed mutual funds only - no ETFs, sukuk fund, or target-date series.
- Grade B
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Wealth Management
- Track record
- Since: 2000
vs ShariaPortfolio: Azzad is a fellow halal RIA with its own mutual funds and wrap program; ShariaPortfolio's ETF family is larger, cheaper, and tradable at any brokerage.
- Grade A
#4
Manzil
- Shariah oversight
- Shariah oversight: Formal Shariah board
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Wealth Management
- Track record
- Since: 2017
Our take: Manzil US pairs a young American platform with a proven Canadian parent: SEC-registered, AAOIFI-screened, scholar-certified investing from $100, plus the MNZL ETF for one-ticket halal exposure.
- Grade A-
#5
SPFunds
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Index-based
- Track record
- Since: 2019
Our take: SP Funds provides essential building blocks for a diversified halal investment portfolio. SPUS for equities at 0.45%, SPSK for sukuk, and specialty ETFs for targeted exposure. If you're a self-directed investor, SP Funds ETFs should be on your shortlist.
- Grade B+
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all 50 states
- Structure
- Structure: Shariah-Screened Mutual Fund
- Track record
- Since: 2000
Our take: The Iman Fund is a legitimate, durable pillar of US halal investing: 25 years, one manager, community waqf ownership, and easy access through mainstream brokerages.
ShariaPortfolio vs the alternatives at a glance
| Provider | Index grade | Shariah oversight | Coverage | Structure | Since |
|---|---|---|---|---|---|
| ShariaPortfolio(this review) | B | Named scholar | All 50 states | Wealth Management | 2013 |
| Wahed Invest | B | Third-party certified | All 50 states | Index-based | 2015 |
| Amana Funds | Not graded | Third-party certified | All 50 states | Actively managed | 1986 |
| Azzad Asset Management | B | Third-party certified | All 50 states | Wealth Management | 2000 |
| Manzil | A | Formal Shariah board | All 50 states | Wealth Management | 2017 |
| SPFunds | A- | Third-party certified | All 50 states | Index-based | 2019 |
| Allied Asset Advisors | B+ | Third-party certified | All 50 states | Shariah-Screened Mutual Fund | 2000 |
Index grades are HalalWallet's independent scorecard. Oversight and coverage are what each provider publishes, last verified 2026-10-27. Not graded means the category or provider is outside the Index, not a negative mark.
Why people look for a ShariaPortfolio alternative
- No standing multi-scholar Sharia supervisory board - oversight rests on AAOIFI adherence, one named Sharia advisor (Shaykh Umer Khan, appointed October 2022), and per-fund accreditation certificates
- Heavy concentration inside the flagship funds: SPUS's top five holdings are about 44% of the fund, and Taiwan Semiconductor alone is nearly 20% of SPWO
- Excluding financials produces a structural tech overweight - SPUS's outperformance is period-specific and cuts both ways in a tech downturn
- Target-date funds are promising but tiny (about $20M combined) and the Investor share class costs 1.06% - more than double the institutional class and 2.4x SPUS
- Fund pages carry data errors (SPWO's details block shows the wrong ticker, inception date, and expense ratio; SPUS's displayed inception conflicts with its own distribution history), so verify facts against prospectuses
When ShariaPortfolio is still the right choice
- The most complete halal fund lineup in America - S&P 500 equity (SPUS), global sukuk (SPSK), REITs (SPRE), global tech (SPTE), and international ex-US (SPWO), all NYSE-listed with no minimums
- Real performance: SPUS has returned about 18.7% annualized since inception versus 15.7% for the full S&P 500, and SPSK beat the conventional Bloomberg Global Aggregate over every displayed window
- Serves every wallet size - Express robo-advisor from $1,000, Access wealth management with a human advisor from $100,000, plus turnkey halal 401(k) plans through ePlan
- Disciplined AAOIFI methodology (under 5% impure income, debt below 30-33% of market cap) with quarterly purification factors published per fund and a free stock-screening service
- Fee-only SEC-registered fiduciary (CRD #173937) with Schwab custody for US accounts and a Canadian arm covering RRSP, TFSA, RESP, FHSA, and pension wrappers
- Unique halal building blocks competitors lack: the only US sukuk ETF, the first halal target-date funds, and a 100% debt-free private real estate fund for accredited investors
Our verdict on ShariaPortfolio: If you invest halal in America, you will probably own something ShariaPortfolio built - SPUS and SPSK are the default building blocks of the halal three-fund portfolio, and the firm behind them offers a legitimate full-service path from $1,000 robo accounts to advisor-managed wealth and halal 401(k)s. Size positions knowing the tech concentration, and note that Sharia governance runs through one respected advisor rather than a full board.
Still deciding?
The ranking above is category-wide. For a state-by-state, structure-by-structure view of every provider, use the comparison tool.
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How this ranking works
The pool is every provider with active investing listings in the U.S. in HalalWallet's database (13 besides ShariaPortfolio). Providers our editors have written a direct comparison for appear first; the rest are ordered by live HalalWallet Index grade, then disclosed Shariah oversight (formal board or third-party certification ranks above a named scholar, which ranks above no public review), then Google rating. Nothing here is paid placement. See our methodology and how Index grades are computed.
Frequently asked questions
What is the best alternative to ShariaPortfolio?
Wahed Invest ranks first among ShariaPortfolio alternatives for halal investing with a HalalWallet Index grade of B, third-party certified Shariah oversight, and coverage of all 50 states. Wahed's robo starts at $100 versus Express's $1,000 and is more automated, but ShariaPortfolio offers human advisors, a far deeper fund lineup, and the only US sukuk ETF. Amana Funds and Azzad Asset Management follow. The right pick depends on your state, the contract structure you are comfortable with, and total cost, so get quotes from at least two.
Which ShariaPortfolio alternative is available in my state?
ShariaPortfolio itself is available nationwide across the U.S.. Wahed Invest, Amana Funds, Azzad Asset Management and Manzil also operate nationwide across the U.S..
How do ShariaPortfolio's alternatives differ in approach?
ShariaPortfolio is listed as wealth management. Azzad Asset Management and Manzil take the same approach. Other approaches among the alternatives: index-based, actively managed, shariah-screened mutual fund. The practical differences are who does the Shariah screening (you, an app, or a manager), what it costs at your balance, and how purification of impermissible income is reported. Match the approach to how hands-on you want to be.
Which alternative has the strongest Shariah oversight?
Wahed Invest (third-party certified), Amana Funds (third-party certified), Azzad Asset Management (third-party certified), Manzil (formal shariah board), SPFunds (third-party certified), Allied Asset Advisors (third-party certified) disclose either a formal Shariah board or third-party certification. ShariaPortfolio itself is classed as named scholar. HalalWallet reports what each provider publishes; we do not certify products.
Should I switch from ShariaPortfolio?
Reasons readers look elsewhere: No standing multi-scholar Sharia supervisory board - oversight rests on AAOIFI adherence, one named Sharia advisor (Shaykh Umer Khan, appointed October 2022), and per-fund accreditation certificates; Heavy concentration inside the flagship funds: SPUS's top five holdings are about 44% of the fund, and Taiwan Semiconductor alone is nearly 20% of SPWO. Reasons to stay: The most complete halal fund lineup in America - S&P 500 equity (SPUS), global sukuk (SPSK), REITs (SPRE), global tech (SPTE), and international ex-US (SPWO), all NYSE-listed with no minimums; Real performance: SPUS has returned about 18.7% annualized since inception versus 15.7% for the full S&P 500, and SPSK beat the conventional Bloomberg Global Aggregate over every displayed window. Switching mid-contract can trigger payoff terms and new closing costs, so compare the total cost of finishing with ShariaPortfolio against a new contract elsewhere, and check the early-payoff clause first.
How to use this comparison: Scholars rule; we organize the evidence. HalalWallet is an independent educational comparison platform - by design, we do not issue fatwas or provide financial, legal, or tax advice. We do the research homework so your final checks are quick and personal. Where our role ends and who takes over.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-01