Amal Invest vs Wahed Invest
Amal Invest and Wahed Invest both offer investing. This page lines up 20 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 Aug 2026
At a glance
- Both are available in all 50 states.
- Amal Invest uses Fund reconstruction with AAOIFI screening (via Zoya); Wahed Invest uses Robo-Advisor / Index-based.
- Both disclose the same level of Shariah oversight: Third-Party Certified.
- HalalWallet Index: Amal Invest holds a B-; Wahed Invest holds a B.
- On measurable rows, Amal Invest has the better listed value on 1 and Wahed Invest on 2.
- They differ on 8 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.
Amal Invest 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 8.
20 of 20 rows
States covered
SameAmal Invest: All 50 statesWahed Invest: All 50 states
Expense ratio
Amal Invest: Not listedWahed Invest: 0.50% (Wahed FTSE USA Shariah ETF) · 0.65% (Wahed Dow Jones Islamic Wo…)Management fee
Amal Invest: Not listedWahed 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
Amal Invest: Not listedWahed 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)
Structure
Amal Invest: Fund reconstruction with AAOIFI screening (via Zoya)Wahed Invest: Robo-Advisor / Index-basedShariah oversight
SameAmal Invest: Third-Party CertifiedWahed Invest: Third-Party CertifiedShariah board / scholar
SameAmal Invest: third_party_certifiedWahed Invest: third_party_certifiedPublished fatwa / certificate
Amal Invest: Yes EdgeWahed Invest: NoScreening standard
Amal Invest: Not listedWahed 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 listed
Amal Invest: Halal Fund Builder (Grow & Save Portfolios)Wahed Invest: Wahed Invest Robo-Advisor, Wahed FTSE USA Shariah ETF, Wahed Dow Jones Islamic World ETF, Wahed Real Estate FundBest for
Amal Invest: Set-and-forget halal versions of mainstream index fundsWahed Invest: Hands-off investors who want automationProduct types
Amal Invest: Fund Reconstruction PlatformWahed Invest: Investment Platform, ETF, Real Estate FundTickers
Amal Invest: Not listedWahed Invest: HLAL, UMMAHoldings
Amal Invest: Not listedWahed Invest: ~200 (Wahed FTSE USA Shariah ETF) · ~100 (Wahed Dow Jones Islamic Wo…)Account types
Amal Invest: Taxable brokerage (via Alpaca or Trading212); IRAs not currently supportedWahed Invest: Individual, IRA, Roth IRAFocus
Amal Invest: Not listedWahed Invest: Automated Halal Portfolios (Wahed Invest Robo-Advisor) · US Large Growth (Wahed FTSE USA Shariah ETF) · Global Large Growth (Wahed Dow Jones Islamic Wo…)
HalalWallet Index grade
Amal Invest: B-Wahed Invest: B EdgeFounded
Amal Invest: 2021Wahed Invest: 2015 EdgeGoogle rating
Amal Invest: Not listedWahed Invest: 4.5/5 (1,200 reviews)Assets under management
Amal Invest: Not listedWahed 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
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
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.
Not sure which is right? Compare all investing providers.
Browse all Investing optionsEditorial comparisons
How do Amal Invest and Wahed Invest compare for investing?
Amal Invest and Wahed Invest both offer investing. This page lines up 20 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); 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: 2026-08-13
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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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