Allied Asset Advisors vs Azzad Asset Management
Allied Asset Advisors and Azzad Asset Management both offer investing. This page lines up 18 listed data points side by side, with 9 differences, so you can see exactly where they part ways before you request quotes.
Built from each provider's listed data · provider data last verified Oct 2026
At a glance
- Both are available in all 50 states.
- Allied Asset Advisors uses Shariah-Screened Mutual Fund; Azzad Asset Management uses Wealth Management.
- Both disclose the same level of Shariah oversight: Third-Party Certified.
- HalalWallet Index: Allied Asset Advisors holds a B; Azzad Asset Management holds a B.
- On measurable rows, Allied Asset Advisors has the better listed value on 1 and Azzad Asset Management on 2.
- They differ on 9 of the 18 data points we list for investing.
No editorial verdict has been written for this pair yet. The side-by-side below is the full data view; where we have written one, you'll find it under Compare.
Allied Asset Advisors vs Azzad Asset Management: the full side-by-side
18 data points from each provider's published materials, lined up row by row. They differ on 9.
States covered
SameAllied Asset Advisors: All 50 statesAzzad Asset Management: All 50 states
Expense ratio
Allied Asset Advisors: 1.29% gross; 0.99% net after the advisor's fee waiver to 0.70% (in effect through 2028-09-30, per the September 30, 2026 prospectus)Azzad Asset Management: Not listedManagement fee
Allied Asset Advisors: Not listedAzzad Asset Management: ~1% wrap fee, declining with AUMMinimum investment
Allied Asset Advisors: $250 regular accounts; $100 IRAs (Traditional, Roth, SEP, SIMPLE) and Coverdell ESAs; $50 subsequent investments EdgeAzzad Asset Management: $500,000 (wrap program); $1,000 ADJEX / $4,000 WISEX funds
Structure
Allied Asset Advisors: Shariah-Screened Mutual FundAzzad Asset Management: Wealth ManagementShariah oversight
SameAllied Asset Advisors: Third-Party CertifiedAzzad Asset Management: Third-Party CertifiedShariah board / scholar
SameAllied Asset Advisors: third_party_certifiedAzzad Asset Management: third_party_certifiedPublished fatwa / certificate
SameAllied Asset Advisors: NoAzzad Asset Management: NoScreening standard
Allied Asset Advisors: AAOIFI-standard sector and financial screens with IdealRatings certification; excludes alcohol, tobacco, pork, conventional financials, defense, gambling, pornography, and interest-bearing debtAzzad Asset Management: AAOIFI standards
Products listed
Allied Asset Advisors: Iman Fund (IMANX)Azzad Asset Management: Azzad Wealth ManagementBest for
Allied Asset Advisors: Long-term halal growth investing through IRAs and 401(k) rolloversAzzad Asset Management: High-net-worth halal wealth managementProduct types
Allied Asset Advisors: Mutual FundAzzad Asset Management: Investment PlatformTickers
Allied Asset Advisors: IMANXAzzad Asset Management: Not listedAccount types
Allied Asset Advisors: Regular taxable, Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA +1 moreAzzad Asset Management: Individual, IRA, Roth IRAFocus
Allied Asset Advisors: Not listedAzzad Asset Management: Full-Service Halal Wealth Management
HalalWallet Index grade
SameAllied Asset Advisors: BAzzad Asset Management: BFounded
Allied Asset Advisors: 2000Azzad Asset Management: 1997 EdgeAssets under management
Allied Asset Advisors: $271.6M total net assets (fund fact sheet, 2026-06-30)Azzad Asset Management: $1.8B firm-wide (12/31/2025, company-reported) Edge
Edge marks the side with the better listed number on measurable rows (lower fee, wider coverage, higher grade). It is not a verdict - a provider can win more rows and still be the wrong fit for you.
Strengths and trade-offs
Allied Asset Advisors
- 25-year track record under one manager, rare in halal investing
- Community ownership pedigree: NAIT, the nonprofit waqf that holds titles for hundreds of US mosques, stands behind the advisor
- Strong recent performance disclosed by the advisor: 29% in 2023 and 20.6% in 2024; $10,000 invested 2016-05-31 grew to $38,048 by 2026-05-31, and the June 30, 2026 fact sheet reports a 39.17% one-year return
- Accessible: $100 IRA minimum and availability inside major brokerage platforms
- No load, no 12b-1; fee waiver keeps net expenses at 0.99% through September 2028
- Net expense ratio of 0.99% is higher than index-style halal competitors such as SP Funds ETFs, and the waiver keeping it there runs through September 2028 and is renewable rather than permanent
- Only one scholar, Sheikh Muzammil Siddiqi (Principal Shariah Advisor), is named on the advisor's site, and the prospectus says Shariah-compliance advice comes from NAIT, the advisor's own parent, rather than an independent board - a thinner disclosure than Amana's or Azzad's
- Concentrated ownership risk disclosed in the prospectus: NAIT owned 50.11% of the fund's shares as of August 31, 2025, and a large NAIT redemption could force untimely sales
- Growth-tilted single-fund strategy with no fixed-income or diversifying sister funds under the same advisor
Azzad Asset Management
- Established in 2000 - over two decades of halal wealth management experience
- AAOIFI-based screening with independent verification by IFAAS and Shariyah Review Bureau certification
- ICCR membership underscores faith-based shareholder advocacy
- Available nationwide in all 50 states
- $500,000 wrap-program minimum shuts out most investors - the Azzad Funds are the accessible entry point
- Fee schedule is not published on the website; roughly 1% declining must be confirmed in disclosures
- All-in costs stack: the wrap fee sits on top of underlying manager and fund expenses
- In-house funds are pricey by current standards (ADJEX 0.99%, WISEX 0.89% net)
Not sure which is right? Compare all investing providers.
Browse all Investing optionsHow do Allied Asset Advisors and Azzad Asset Management compare for investing?
Allied Asset Advisors and Azzad Asset Management both offer investing. This page lines up 18 listed data points side by side, with 9 differences, so you can see exactly where they part ways before you request quotes.
- Both are available in all 50 states.
- Allied Asset Advisors uses Shariah-Screened Mutual Fund; Azzad Asset Management uses Wealth Management.
- Both disclose the same level of Shariah oversight: Third-Party Certified.
Source: HalalWallet (halalwallet.us)
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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-22
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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.
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