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Investing comparison

Allied Asset Advisors vs Manzil

Allied Asset Advisors and Manzil both offer investing. This page lines up 19 listed data points side by side, with 14 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; Manzil uses Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya).
  • Shariah oversight: Allied Asset Advisors discloses Third-Party Certified; Manzil discloses Formal Board.
  • HalalWallet Index: Allied Asset Advisors holds a B; Manzil holds a A.
  • On measurable rows, Allied Asset Advisors has the better listed value on 2 and Manzil on 2.
  • They differ on 14 of the 19 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 Manzil: the full side-by-side

19 data points from each provider's published materials, lined up row by row. They differ on 14.

AA

Allied Asset Advisors

B
Manzil - halal finance provider logo

Manzil

A

19 of 19 rows

Availability

  • States covered

    Same
    Allied Asset Advisors: All 50 states
    Manzil: All 50 states
Costs

  • 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)
    Manzil: 0.40% Edge

  • Management fee

    Allied Asset Advisors: Not listed
    Manzil: 0.40% AUM + $48/yr (waived at $100K+) (Wealth Management) · Core: $48/year + 0.40% of invested assets; Premium ($100K+ in assets): $0/year + 0.40% (Manzil Trading (Self-Direc…)

  • Minimum investment

    Allied Asset Advisors: $250 regular accounts; $100 IRAs (Traditional, Roth, SEP, SIMPLE) and Coverdell ESAs; $50 subsequent investments
    Manzil: $100 (Wealth Management) · $100 minimum in assets; fractional shares (Manzil Trading (Self-Direc…)
Shariah

  • Structure

    Allied Asset Advisors: Shariah-Screened Mutual Fund
    Manzil: Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya)

  • Shariah oversight

    Allied Asset Advisors: Third-Party Certified
    Manzil: Formal Board

  • Shariah board / scholar

    Allied Asset Advisors: third_party_certified
    Manzil: Formal Board

  • Published fatwa / certificate

    Same
    Allied Asset Advisors: No
    Manzil: No

  • Screening 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 debt
    Manzil: Real-time Shariah screening by Zoya against AAOIFI standards, embedded in the platform; non-compliant stocks cannot be traded and status changes trigger notifications (Manzil Trading (Self-Direc…) · Russell Halal USA Index (Manzil Russell Halal USA B…)
Products

  • Products listed

    Allied Asset Advisors: Iman Fund (IMANX)
    Manzil: Wealth Management, Manzil Trading (Self-Directed Halal Stock Trading), Manzil Russell Halal USA Broad Market ETF

  • Best for

    Allied Asset Advisors: Long-term halal growth investing through IRAs and 401(k) rollovers
    Manzil: Halal portfolio management

  • Product types

    Allied Asset Advisors: Mutual Fund
    Manzil: Investment Platform, Brokerage, ETF

  • Tickers

    Allied Asset Advisors: IMANX
    Manzil: MNZL

  • Holdings

    Allied Asset Advisors: Not listed
    Manzil: ~490

  • Account types

    Allied Asset Advisors: Regular taxable, Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA +1 more
    Manzil: Individual taxable brokerage (via the Manzil app), Individual, IRA, Roth IRA

  • Focus

    Allied Asset Advisors: Not listed
    Manzil: Managed Halal Portfolios (Wealth Management) · US Large & Mid Cap (Manzil Russell Halal USA B…)
Track record

  • HalalWallet Index grade

    Allied Asset Advisors: B
    Manzil: A Edge

  • Founded

    Allied Asset Advisors: 2000 Edge
    Manzil: 2019

  • Assets under management

    Allied Asset Advisors: $271.6M total net assets (fund fact sheet, 2026-06-30) Edge
    Manzil: $25.31M (2026-08-04)

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

Manzil

  • Live and accessible: $100 minimum with a simple 0.40% + $48/year price
  • Certified professionals manage and rebalance the portfolio for you
  • Oversight by an in-house Shariah board plus external scholars, to AAOIFI standards
  • Diversified beyond equities: sukuk, REITs, and gold/silver ETFs in the models
  • Individual, Traditional IRA, and Roth IRA accounts; excess SIPC coverage raised to $75M via Alpaca
  • The $48 subscription is heavy on small accounts - on $1,000 it adds nearly 5% a year on top of the 0.40%
  • Fee disclosures conflict: the website says 0.40% + $48/year while the filed Form ADV lists $2/month + 0.49%
  • Three broad risk profiles only - no customization or individual stock selection
  • US operation is young (Aghaz acquired in November 2024) with small regulatory AUM at the start of 2025
  • The 0.40% fee applies to self-directed assets, which costs more than commission-free conventional brokers (Robinhood, Fidelity) where halal-conscious investors screen manually

Products behind the numbers

Where a row shows more than one value, it is because the provider lists several investing products. Each is tagged.

Allied Asset Advisors (1)

  • Iman Fund (IMANX) · IMANX

Manzil (3)

  • Wealth Management
  • Manzil Trading (Self-Directed Halal Stock Trading)Details
  • Manzil Russell Halal USA Broad Market ETF · MNZLDetails
AA

Allied Asset Advisors

Visit Allied Asset Advisors Full review
Manzil - halal finance provider logo

Manzil

Visit Manzil Full review

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How do Allied Asset Advisors and Manzil compare for investing?

Allied Asset Advisors and Manzil both offer investing. This page lines up 19 listed data points side by side, with 14 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; Manzil uses Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya).
  • Shariah oversight: Allied Asset Advisors discloses Third-Party Certified; Manzil discloses Formal Board.

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: 2026-10-14

How to cite this page

Preferred format (HTML):

According to HalalWallet (“Allied Asset Advisors vs Manzil”, https://www.halalwallet.us/compare/allied-asset-advisors-vs-manzil, retrieved 2026-11-12).

For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.

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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