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Investing comparison

Allied Asset Advisors vs SPFunds

Allied Asset Advisors and SPFunds both offer investing. This page lines up 20 listed data points side by side, with 12 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; SPFunds uses Index-based / Mutual Funds.
  • Both disclose the same level of Shariah oversight: Third-Party Certified.
  • HalalWallet Index: Allied Asset Advisors holds a B; SPFunds holds a A-.
  • On measurable rows, Allied Asset Advisors has the better listed value on 1 and SPFunds on 1.
  • They differ on 12 of the 20 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 SPFunds: the full side-by-side

20 data points from each provider's published materials, lined up row by row. They differ on 12.

AA

Allied Asset Advisors

B
SPFunds - halal finance provider logo

SPFunds

A-

20 of 20 rows

Availability

  • States covered

    Same
    Allied Asset Advisors: All 50 states
    SPFunds: 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)
    SPFunds: 0.55% (SP Funds S&P Global Techno…) · 0.45% (SP Funds S&P 500 Shariah I…) · 0.50% (SP Funds Dow Jones Global…) · 1.31% (SPTAX) / 0.91% (SPTMX) (SP Funds 2030 Target Date…) · 1.32% (SPTBX) / 0.92% (SPTNX) (SP Funds 2040 Target Date…) · 1.33% (SPTCX) / 0.93% (SPTOX) (SP Funds 2050 Target Date…)

  • Management fee

    Allied Asset Advisors: Not listed
    SPFunds: 0.45% (unitary fee to ShariaPortfolio, Inc.)

  • Minimum investment

    Allied Asset Advisors: $250 regular accounts; $100 IRAs (Traditional, Roth, SEP, SIMPLE) and Coverdell ESAs; $50 subsequent investments
    SPFunds: $250 ($50,000 institutional); $25 subsequent
Shariah

  • Structure

    Allied Asset Advisors: Shariah-Screened Mutual Fund
    SPFunds: Index-based / Mutual Funds

  • Shariah oversight

    Same
    Allied Asset Advisors: Third-Party Certified
    SPFunds: Third-Party Certified

  • Shariah board / scholar

    Same
    Allied Asset Advisors: third_party_certified
    SPFunds: third_party_certified

  • Published fatwa / certificate

    Same
    Allied Asset Advisors: No
    SPFunds: 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
    SPFunds: S&P Global Technology Shariah screening (SP Funds S&P Global Techno…) · S&P 500 Shariah screening (SP Funds S&P 500 Shariah I…) · Dow Jones Sukuk Total Return Index (SP Funds Dow Jones Global…) · AAOIFI standards via underlying SP Funds ETFs (SP Funds 2030 Target Date…) · S&P Global REIT Shariah screening (SP Funds S&P Global REIT S…) · S&P World Shariah screening (SP Funds S&P World ETF)
Products

  • Products listed

    Allied Asset Advisors: Iman Fund (IMANX)
    SPFunds: SP Funds S&P Global Technology ETF, SP Funds S&P 500 Shariah Industry Exclusions ETF, SP Funds Dow Jones Global Sukuk ETF, SP Funds 2030 Target Date Fund (SPTAX), SP Funds 2040 Target Date Fund (SPTBX), SP Funds 2050 Target Date Fund (SPTCX) +2 more

  • Best for

    Allied Asset Advisors: Long-term halal growth investing through IRAs and 401(k) rollovers
    SPFunds: Halal technology sector exposure

  • Product types

    Allied Asset Advisors: Mutual Fund
    SPFunds: ETF, Mutual Fund

  • Tickers

    Allied Asset Advisors: IMANX
    SPFunds: SPTE, SPUS, SPSK, SPTAX, SPTBX +3 more

  • Holdings

    Allied Asset Advisors: Not listed
    SPFunds: ~100 (SP Funds S&P Global Techno…) · ~200 (SP Funds S&P 500 Shariah I…) · ~170 (SP Funds Dow Jones Global…) · 7 (SPSK, SPUS, SPRE, SPWO, SPTE, GLD, cash) (SP Funds 2030 Target Date…) · 6 (SPUS, SPTE, SPWO, SPRE, SPSK, cash) (SP Funds 2040 Target Date…) · ~30 (SP Funds S&P Global REIT S…) · ~400 (SP Funds S&P World ETF)

  • Account types

    Allied Asset Advisors: Regular taxable, Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA +1 more
    SPFunds: Individual, IRA, Roth IRA, Employer retirement plan

  • Focus

    Allied Asset Advisors: Not listed
    SPFunds: Global Technology (SP Funds S&P Global Techno…) · US Large Growth (SP Funds S&P 500 Shariah I…) · Global Bond (Sukuk) (SP Funds Dow Jones Global…) · Target Date / Retirement (SP Funds 2030 Target Date…) · Global Real Estate (SP Funds S&P Global REIT S…) · Global Large Blend (SP Funds S&P World ETF)
Track record

  • HalalWallet Index grade

    Allied Asset Advisors: B
    SPFunds: A- Edge

  • Founded

    Allied Asset Advisors: 2000 Edge
    SPFunds: 2019

  • Awards

    Allied Asset Advisors: Not listed
    SPFunds: Morningstar Silver Medalist Rating (rated Aug 31, 2026; published Sep 29, 2026), U.S. News #3 Best Global Bond ETF (ranked Oct 2026; 3rd of 9 evaluated)

  • Assets under management

    Allied Asset Advisors: $271.6M total net assets (fund fact sheet, 2026-06-30)
    SPFunds: $217M (2026-08-04) (SP Funds S&P Global Techno…) · $3.39B (2026-10-07) (SP Funds S&P 500 Shariah I…) · $645M (2026-08-04) (SP Funds Dow Jones Global…) · $6.36M fund total; $3.58M Investor class (2026-10-26) (SP Funds 2030 Target Date…) · $10.17M fund total; $5.36M Investor class (2026-10-26) (SP Funds 2040 Target Date…) · $5.94M fund total (2026-10-26) (SP Funds 2050 Target Date…) · $221M (2026-08-04) (SP Funds S&P Global REIT S…) · $200M (2026-08-04) (SP Funds S&P World ETF)

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

SPFunds

  • Focused halal exposure to the global technology sector, not just US names
  • Includes non-US leaders like Taiwan Semiconductor via the S&P Global 1200 universe
  • Full SP Funds compliance file: accreditation certificate, auditor report, quarterly purification
  • Monthly distributions despite the growth mandate
  • Largest halal ETF by AUM at $2.9B - deep liquidity and tight spreads
  • Single-sector concentration - this amplifies rather than diversifies most halal portfolios' existing tech tilt
  • High volatility inherent to a pure technology fund
  • Highest purification burden in the family (2.27% of dividends in Q1 2026)
  • At $217M it is mid-sized; spreads run wider than SPUS
  • US-focused only - pair with an international fund for global coverage

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

SPFunds (8)

  • SP Funds S&P Global Technology ETF · SPTEDetails
  • SP Funds S&P 500 Shariah Industry Exclusions ETF · SPUSDetails
  • SP Funds Dow Jones Global Sukuk ETF · SPSKDetails
  • SP Funds 2030 Target Date Fund (SPTAX) · SPTAXDetails
  • SP Funds 2040 Target Date Fund (SPTBX) · SPTBXDetails
  • SP Funds 2050 Target Date Fund (SPTCX) · SPTCXDetails
  • SP Funds S&P Global REIT Shariah ETF · SPREDetails
  • SP Funds S&P World ETF · SPWODetails
AA

Allied Asset Advisors

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

SPFunds

Visit SPFunds Full review

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Editorial comparisons

SP Funds (SPUS) vs Wahed Invest (HLAL)

Investing · with verdict

SP Funds vs Amana Funds

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How do Allied Asset Advisors and SPFunds compare for investing?

Allied Asset Advisors and SPFunds both offer investing. This page lines up 20 listed data points side by side, with 12 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; SPFunds uses Index-based / Mutual Funds.
  • 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: 2026-10-27

How to cite this page

Preferred format (HTML):

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