Amal Invest vs Defynance
Amal Invest and Defynance both offer investing. This page lines up 13 listed data points side by side, with 8 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 Nov 2026
At a glance
- Both are available in all 50 states.
- Amal Invest uses Fund reconstruction with AAOIFI screening (via Zoya); Defynance uses Closed-end private fund holding income share agreements (accredited investors only).
- Shariah oversight: Amal Invest discloses Third-Party Certified; Defynance discloses No Public Review.
- HalalWallet Index: Amal Invest holds a B+; Defynance holds a B-.
- On measurable rows, Amal Invest has the better listed value on 2 and Defynance on 1.
- They differ on 8 of the 13 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.
Amal Invest vs Defynance: the full side-by-side
13 data points from each provider's published materials, lined up row by row. They differ on 8.
Amal Invest
Pays us: No. Amal Invest pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Defynance
Pays us: No. Defynance pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.13 of 13 rows
States covered
SameAmal Invest: All 50 statesDefynance: All 50 states
Management fee
Amal Invest: Not listedDefynance: Sales charge on each subscription, recurring servicing fees, a management fee on assets under management, and carried interest on profit. Amounts are in the private placement memorandum, not published.Minimum investment
Amal Invest: Not listedDefynance: $25,000 for accredited investors; $100,000 for qualified purchasers (the manager can make exceptions)
Structure
Amal Invest: Fund reconstruction with AAOIFI screening (via Zoya)Defynance: Closed-end private fund holding income share agreements (accredited investors only)Shariah oversight
Amal Invest: Third-Party CertifiedDefynance: No Public ReviewShariah board / scholar
Amal Invest: third_party_certifiedDefynance: No Public ReviewPublished fatwa / certificate
Amal Invest: Yes EdgeDefynance: No
Products listed
Amal Invest: Halal Fund Builder (Grow & Save Portfolios)Defynance: Defynance FundBest for
Amal Invest: Set-and-forget halal versions of mainstream index fundsDefynance: Not listedProduct types
Amal Invest: Fund Reconstruction PlatformDefynance: Private FundAccount types
Amal Invest: Taxable brokerage (via Alpaca or Trading212); IRAs not currently supportedDefynance: Not listed
HalalWallet Index grade
Amal Invest: B+ EdgeDefynance: B-Founded
Amal Invest: 2021Defynance: 2019 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
Amal Invest
- Solves the screener-plus-brokerage juggling problem in one automated flow, a genuine gap between Zoya/Musaffa (screeners) and Wahed (managed portfolios)
- Lifetime flat fee is structurally cheaper than robo-advisor AUM fees for larger portfolios
- Named third-party certification (Amanah Advisors) with published explanation of the AAOIFI methodology
- Continuous compliance automation: automatic sell-and-reinvest on non-compliance is rare even among halal robo-advisors
- Ethical filters beyond Shariah screening, including a BDS filter, with user overrides
- No retirement accounts: Alpaca integration does not support IRAs or 401(k)s, a significant gap versus Wahed and Amana
- Amal is not an investment advisor; investors get automation, not advice
- Operating company is Bahrain-based, so US investors rely on the Alpaca custody layer for regulatory protection
- Historical return figures on the marketing site (28.3% and 14.6% per year) are illustrative backtests, not audited fund performance
- Small team (about 3 people per Y Combinator), so key-person risk is real
Defynance
- Returns come from a share of borrowers' income, not from interest
- Investor capital pays off interest-bearing student debt
- Quarterly distributions after the first year
- Defynance reports low volatility and returns it describes as uncorrelated with markets
- No Shariah board, scholar, fatwa or purification guidance is published
- Accredited investors and qualified purchasers only, with a $25,000 minimum
- Fee amounts are disclosed only in the private placement memorandum
- Illiquid: one-year hold, and redemption options are not yet available
- Defynance lists its own startup status and the possibility of agreements defaulting among the risks
Amal Invest
Pays HalalWallet: No. Amal Invest pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Defynance
Pays HalalWallet: No. Defynance pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Not sure which is right? Compare all investing providers.
Browse all Investing optionsHow do Amal Invest and Defynance compare for investing?
Amal Invest and Defynance both offer investing. This page lines up 13 listed data points side by side, with 8 differences, so you can see exactly where they part ways before you request quotes.
- Both are available in all 50 states.
- Amal Invest uses Fund reconstruction with AAOIFI screening (via Zoya); Defynance uses Closed-end private fund holding income share agreements (accredited investors only).
- Shariah oversight: Amal Invest discloses Third-Party Certified; Defynance discloses No Public Review.
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: 2026-11-13
How to cite this page
Preferred format (HTML):
https://www.halalwallet.us/compare/amal-invest-vs-defynance, retrieved 2026-11-14).For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
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