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Investing comparison

Allied Asset Advisors vs Musaffa

Allied Asset Advisors and Musaffa both offer investing. This page lines up 18 listed data points side by side, with 10 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; Musaffa uses ETF Screener / Stock Screener.
  • Shariah oversight: Allied Asset Advisors discloses Third-Party Certified; Musaffa discloses Formal Board.
  • HalalWallet Index: Allied Asset Advisors holds a B; Musaffa holds a B-.
  • On measurable rows, Allied Asset Advisors has the better listed value on 2 and Musaffa on 0.
  • They differ on 10 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 Musaffa: the full side-by-side

18 data points from each provider's published materials, lined up row by row. They differ on 10.

AA

Allied Asset Advisors

B
Musaffa - halal finance provider logo

Musaffa

B-

18 of 18 rows

Availability

  • States covered

    Same
    Allied Asset Advisors: All 50 states
    Musaffa: 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)
    Musaffa: Not listed

  • Management fee

    Allied Asset Advisors: Not listed
    Musaffa: $0 free tier; $72/year Foundation plan

  • Minimum investment

    Allied Asset Advisors: $250 regular accounts; $100 IRAs (Traditional, Roth, SEP, SIMPLE) and Coverdell ESAs; $50 subsequent investments
    Musaffa: Not listed
Shariah

  • Structure

    Allied Asset Advisors: Shariah-Screened Mutual Fund
    Musaffa: ETF Screener / Stock Screener

  • Shariah oversight

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

  • Shariah board / scholar

    Allied Asset Advisors: third_party_certified
    Musaffa: formal_board

  • Published fatwa / certificate

    Same
    Allied Asset Advisors: No
    Musaffa: 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
    Musaffa: AAOIFI standards
Products

  • Products listed

    Allied Asset Advisors: Iman Fund (IMANX)
    Musaffa: Halal ETF Finder, Musaffa Halal Stock Screener

  • Best for

    Allied Asset Advisors: Long-term halal growth investing through IRAs and 401(k) rollovers
    Musaffa: Investors comparing halal ETFs - or checking whether the mainstream fund in their 401(k) has a compliant alternative - who want holdings-level AAOIFI screening rather than taking a fund label on trust.

  • Product types

    Allied Asset Advisors: Mutual Fund
    Musaffa: Stock Screener

  • Tickers

    Allied Asset Advisors: IMANX
    Musaffa: Not listed

  • Account types

    Allied Asset Advisors: Regular taxable, Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA +1 more
    Musaffa: Individual, IRA, Roth IRA

  • Focus

    Allied Asset Advisors: Not listed
    Musaffa: Halal Stock Screening
Track record

  • HalalWallet Index grade

    Allied Asset Advisors: B Edge
    Musaffa: B-

  • Founded

    Allied Asset Advisors: 2000 Edge
    Musaffa: 2020

  • Assets under management

    Allied Asset Advisors: $271.6M total net assets (fund fact sheet, 2026-06-30)
    Musaffa: Not listed

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

Musaffa

  • Searches and compares halal ETFs in one place
  • Screening runs against AAOIFI standards with continuous monitoring
  • Methodology reviewed by named Shariah advisors
  • Available nationwide in all 50 states
  • Automated AAOIFI-standard screening for stocks and ETFs
  • Covers ETFs only - individual stock research sits in Musaffa's separate screener
  • A comparison tool, not a brokerage - you buy through your own account
  • Detailed reports and filters require the paid Foundation plan
  • A research platform, not a brokerage - trades execute elsewhere
  • Founded in 2020, so a shorter operating history than legacy Islamic finance firms

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

Musaffa (2)

AA

Allied Asset Advisors

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

Musaffa

Visit Musaffa Full review

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How do Allied Asset Advisors and Musaffa compare for investing?

Allied Asset Advisors and Musaffa both offer investing. This page lines up 18 listed data points side by side, with 10 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; Musaffa uses ETF Screener / Stock Screener.
  • Shariah oversight: Allied Asset Advisors discloses Third-Party Certified; Musaffa 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: 2026-10-08

How to cite this page

Preferred format (HTML):

According to HalalWallet (“Allied Asset Advisors vs Musaffa”, https://www.halalwallet.us/compare/allied-asset-advisors-vs-musaffa, 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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