Amal Invest vs Manzil
Amal Invest and Manzil both offer investing. This page lines up 19 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.
- Amal Invest uses Fund reconstruction with AAOIFI screening (via Zoya); Manzil uses Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya).
- Shariah oversight: Amal Invest discloses Third-Party Certified; Manzil discloses Formal Board.
- HalalWallet Index: Amal Invest holds a B-; Manzil holds a A.
- On measurable rows, Amal Invest has the better listed value on 1 and Manzil on 2.
- They differ on 10 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.
Amal Invest vs Manzil: the full side-by-side
19 data points from each provider's published materials, lined up row by row. They differ on 10.
19 of 19 rows
States covered
SameAmal Invest: All 50 statesManzil: All 50 states
Expense ratio
Amal Invest: Not listedManzil: 0.40%Management fee
Amal Invest: Not listedManzil: 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
Amal Invest: Not listedManzil: $100 (Wealth Management) · $100 minimum in assets; fractional shares (Manzil Trading (Self-Direc…)
Structure
Amal Invest: Fund reconstruction with AAOIFI screening (via Zoya)Manzil: Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya)Shariah oversight
Amal Invest: Third-Party CertifiedManzil: Formal BoardShariah board / scholar
Amal Invest: third_party_certifiedManzil: Formal BoardPublished fatwa / certificate
Amal Invest: Yes EdgeManzil: NoScreening standard
Amal Invest: Not listedManzil: 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 listed
Amal Invest: Halal Fund Builder (Grow & Save Portfolios)Manzil: Wealth Management, Manzil Trading (Self-Directed Halal Stock Trading), Manzil Russell Halal USA Broad Market ETFBest for
Amal Invest: Set-and-forget halal versions of mainstream index fundsManzil: Halal portfolio managementProduct types
Amal Invest: Fund Reconstruction PlatformManzil: Investment Platform, Brokerage, ETFTickers
Amal Invest: Not listedManzil: MNZLHoldings
Amal Invest: Not listedManzil: ~490Account types
Amal Invest: Taxable brokerage (via Alpaca or Trading212); IRAs not currently supportedManzil: Individual taxable brokerage (via the Manzil app), Individual, IRA, Roth IRAFocus
Amal Invest: Not listedManzil: Managed Halal Portfolios (Wealth Management) · US Large & Mid Cap (Manzil Russell Halal USA B…)
HalalWallet Index grade
Amal Invest: B-Manzil: A EdgeFounded
Amal Invest: 2021Manzil: 2019 EdgeAssets under management
Amal Invest: Not listedManzil: $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
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
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.
Not sure which is right? Compare all investing providers.
Browse all Investing optionsHow do Amal Invest and Manzil compare for investing?
Amal Invest and Manzil both offer investing. This page lines up 19 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.
- Amal Invest uses Fund reconstruction with AAOIFI screening (via Zoya); Manzil uses Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya).
- Shariah oversight: Amal Invest 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
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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.
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