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Investing comparison

Allied Asset Advisors vs Wahed Invest

Allied Asset Advisors and Wahed Invest both offer investing. This page lines up 20 listed data points side by side, with 11 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; Wahed Invest uses Robo-Advisor / Index-based.
  • Both disclose the same level of Shariah oversight: Third-Party Certified.
  • HalalWallet Index: Allied Asset Advisors holds a B; Wahed Invest holds a B.
  • On measurable rows, Allied Asset Advisors has the better listed value on 1 and Wahed Invest on 0.
  • They differ on 11 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 Wahed Invest: the full side-by-side

20 data points from each provider's published materials, lined up row by row. They differ on 11.

AA

Allied Asset Advisors

B
Wahed Invest - halal finance provider logo

Wahed Invest

B

20 of 20 rows

Availability

  • States covered

    Same
    Allied Asset Advisors: All 50 states
    Wahed Invest: 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)
    Wahed Invest: 0.50% (Wahed FTSE USA Shariah ETF) · 0.65% (Wahed Dow Jones Islamic Wo…)

  • Management fee

    Allied Asset Advisors: Not listed
    Wahed Invest: 0.49% + $60/yr (<$100K); 0.49% ($100K+) (Wahed Invest Robo-Advisor) · 0.75% of AUM annually + 3% sourcing fee per property acquisition; no performance fees (Wahed Real Estate Fund)

  • Minimum investment

    Allied Asset Advisors: $250 regular accounts; $100 IRAs (Traditional, Roth, SEP, SIMPLE) and Coverdell ESAs; $50 subsequent investments
    Wahed Invest: $100 (Wahed Invest Robo-Advisor) · $100 (10 shares); no accredited investor requirement; open to US residents 18+ with a US bank account (Wahed Real Estate Fund)
Shariah

  • Structure

    Allied Asset Advisors: Shariah-Screened Mutual Fund
    Wahed Invest: Robo-Advisor / Index-based

  • Shariah oversight

    Same
    Allied Asset Advisors: Third-Party Certified
    Wahed Invest: Third-Party Certified

  • Shariah board / scholar

    Same
    Allied Asset Advisors: third_party_certified
    Wahed Invest: third_party_certified

  • Published fatwa / certificate

    Same
    Allied Asset Advisors: No
    Wahed Invest: 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
    Wahed Invest: AAOIFI standards (Wahed Invest Robo-Advisor) · FTSE Shariah Index (Wahed FTSE USA Shariah ETF) · Dow Jones Islamic World Index (Wahed Dow Jones Islamic Wo…) · Structural compliance rather than stock screening: zero-debt policy (100% equity acquisitions), income solely from residential rent and appreciation, SRB-certified with ongoing internal monitoring (Wahed Real Estate Fund)
Products

  • Products listed

    Allied Asset Advisors: Iman Fund (IMANX)
    Wahed Invest: Wahed Invest Robo-Advisor, Wahed FTSE USA Shariah ETF, Wahed Dow Jones Islamic World ETF, Wahed Real Estate Fund

  • Best for

    Allied Asset Advisors: Long-term halal growth investing through IRAs and 401(k) rollovers
    Wahed Invest: Hands-off investors who want automation

  • Product types

    Allied Asset Advisors: Mutual Fund
    Wahed Invest: Investment Platform, ETF, Real Estate Fund

  • Tickers

    Allied Asset Advisors: IMANX
    Wahed Invest: HLAL, UMMA

  • Holdings

    Allied Asset Advisors: Not listed
    Wahed Invest: ~200 (Wahed FTSE USA Shariah ETF) · ~100 (Wahed Dow Jones Islamic Wo…)

  • Account types

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

  • Focus

    Allied Asset Advisors: Not listed
    Wahed Invest: Automated Halal Portfolios (Wahed Invest Robo-Advisor) · US Large Growth (Wahed FTSE USA Shariah ETF) · Global Large Growth (Wahed Dow Jones Islamic Wo…)
Track record

  • HalalWallet Index grade

    Same
    Allied Asset Advisors: B
    Wahed Invest: B

  • Founded

    Allied Asset Advisors: 2000 Edge
    Wahed Invest: 2015

  • Google rating

    Allied Asset Advisors: Not listed
    Wahed Invest: 4.5/5 (1,200 reviews)

  • Assets under management

    Allied Asset Advisors: $271.6M total net assets (fund fact sheet, 2026-06-30)
    Wahed Invest: $752M (Wahed FTSE USA Shariah ETF) · $0.2B (Wahed Dow Jones Islamic Wo…)

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

Wahed Invest

  • Fully automated halal portfolios matched to your goals
  • Certified by the Shariyah Review Bureau (2024), with AAOIFI associate membership
  • Supports individual, IRA, and Roth IRA accounts
  • Available nationwide in all 50 states
  • Second-largest halal ETF at roughly $752M - liquid and established
  • The flat $60 stings small accounts: on $1,000 the all-in cost approaches 6.5% a year - fund it meaningfully or wait
  • Model portfolios only - no individual stock selection or allocation tweaks
  • SEC's February 2022 order (misleading statements, undisclosed conflicts around HLAL's launch, no written Shariah-compliance policies; $300,000 penalty) is recent history worth knowing
  • Portfolios lean on Wahed's own ETFs, an inherent conflict the firm discloses
  • 0.50% fee sits above SPUS (0.45%) and MNZL (0.40%) for similar US halal exposure

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

Wahed Invest (4)

  • Wahed Invest Robo-AdvisorDetails
  • Wahed FTSE USA Shariah ETF · HLALDetails
  • Wahed Dow Jones Islamic World ETF · UMMADetails
  • Wahed Real Estate FundDetails
AA

Allied Asset Advisors

Visit Allied Asset Advisors Full review
Wahed Invest - halal finance provider logo

Wahed Invest

Visit Wahed Invest Full review

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How do Allied Asset Advisors and Wahed Invest compare for investing?

Allied Asset Advisors and Wahed Invest both offer investing. This page lines up 20 listed data points side by side, with 11 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; Wahed Invest uses Robo-Advisor / Index-based.
  • 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: 2026-10-08

How to cite this page

Preferred format (HTML):

According to HalalWallet (“Allied Asset Advisors vs Wahed Invest”, https://www.halalwallet.us/compare/allied-asset-advisors-vs-wahed-invest, 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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