Amana Funds vs Azzad Asset Management
Amana Funds and Azzad Asset Management both offer investing. This page lines up 19 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.
- Amana Funds uses Mutual Funds / Actively managed; Azzad Asset Management uses Wealth Management.
- Both disclose the same level of Shariah oversight: Third-Party Certified.
- HalalWallet Index: Amana Funds holds a B-; Azzad Asset Management holds a B.
- On measurable rows, Amana Funds has the better listed value on 1 and Azzad Asset Management on 1.
- They differ on 11 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.
Amana Funds vs Azzad Asset Management: the full side-by-side
19 data points from each provider's published materials, lined up row by row. They differ on 11.
19 of 19 rows
States covered
SameAmana Funds: All 50 statesAzzad Asset Management: All 50 states
Expense ratio
Amana Funds: 1.20% (AMDWX) / 0.98% (AMIDX) (Amana Developing World Fun…) · 0.61% (Amana Growth ETF) · 0.76% (Amana Equity Income ETF) · 0.91% (Amana Developing World ETF) · 0.82% (AMAPX) / 0.59% (AMIPX) (Amana Participation Fund (…) · 0.86% (AMAGX) / 0.61% (AMIGX) (Amana Growth Fund (AMAGX)) · 1.01% (AMANX) / 0.76% (AMINX) (Amana Income Fund (AMANX))Azzad Asset Management: Not listedManagement fee
Amana Funds: 0.80% (Amana Developing World Fun…) · 0.50% (Amana Participation Fund (…) · 0.58% (Amana Growth Fund (AMAGX)) · 0.73% (Amana Income Fund (AMANX))Azzad Asset Management: ~1% wrap fee, declining with AUMMinimum investment
Amana Funds: $100 ($100,000 institutional) (Amana Developing World Fun…) · 1 share on Nasdaq (fractional at supporting brokers) (Amana Growth ETF)Azzad Asset Management: $500,000 (wrap program); $1,000 ADJEX / $4,000 WISEX funds
Structure
Amana Funds: Mutual Funds / Actively managedAzzad Asset Management: Wealth ManagementShariah oversight
SameAmana Funds: Third-Party CertifiedAzzad Asset Management: Third-Party CertifiedShariah board / scholar
SameAmana Funds: third_party_certifiedAzzad Asset Management: third_party_certifiedPublished fatwa / certificate
SameAmana Funds: NoAzzad Asset Management: NoScreening standard
Amana Funds: AAOIFI standards (Amana Developing World Fun…) · Saturna Capital Islamic screens, reviewed by Amanie Advisors (Amana Growth ETF)Azzad Asset Management: AAOIFI standards
Products listed
Amana Funds: Amana Developing World Fund (AMDWX), Amana Growth ETF, Amana Equity Income ETF, Amana Developing World ETF, Amana Participation Fund (AMAPX), Amana Growth Fund (AMAGX) +1 moreAzzad Asset Management: Azzad Wealth ManagementBest for
Amana Funds: Halal emerging market exposureAzzad Asset Management: High-net-worth halal wealth managementProduct types
Amana Funds: Mutual Fund, ETFAzzad Asset Management: Investment PlatformTickers
Amana Funds: AMDWX, AMGR, AMEI, AMEM, AMAPX +2 moreAzzad Asset Management: Not listedHoldings
Amana Funds: 31 (Amana Growth ETF) · 32 (Amana Equity Income ETF)Azzad Asset Management: Not listedAccount types
SameAmana Funds: Individual, IRA, Roth IRAAzzad Asset Management: Individual, IRA, Roth IRAFocus
Amana Funds: International / Emerging Markets (Amana Developing World Fun…) · Global Large Growth (active) (Amana Growth ETF) · Global Dividend Equity (active) (Amana Equity Income ETF) · Emerging Markets (active) (Amana Developing World ETF) · Global Sukuk / Fixed Income (Amana Participation Fund (…) · US Large Growth (Amana Growth Fund (AMAGX)) · US Large Value / Income (Amana Income Fund (AMANX))Azzad Asset Management: Full-Service Halal Wealth Management
HalalWallet Index grade
Amana Funds: B-Azzad Asset Management: B EdgeFounded
Amana Funds: 1986 EdgeAzzad Asset Management: 1997Assets under management
Amana Funds: $201M (both classes, 2026-08-05) (Amana Developing World Fun…) · $7.87M (2026-10-19) (Amana Growth ETF) · $5.98M (2026-10-19) (Amana Equity Income ETF) · $6.09M (2026-10-19) (Amana Developing World ETF) · $324M (both classes, 2026-08-05) (Amana Participation Fund (…) · $6.8B (both classes, 2026-08-05) (Amana Growth Fund (AMAGX)) · $2.4B (both classes, 2026-08-05) (Amana Income Fund (AMANX))Azzad Asset Management: $1.8B firm-wide (12/31/2025, company-reported)
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
Amana Funds
- Dedicated halal exposure to emerging and developing markets - a rare mandate
- Reviewed and certified quarterly by Amanie Advisors
- Comes from the longest-running US Islamic fund family (since 1986)
- $100 minimum, waived in tax-sheltered accounts
- Can hold Islamic financial institutions (for example Bank Islam Malaysia) - the screen bars interest-based finance only
- 1.20% Investor-class expense ratio is the highest in the Amana family
- 10-year return of 7.76% annualized trails the MSCI Emerging Markets Index's 10.52%
- Smallest Amana fund at about $201M - scale works against costs
- Emerging markets bring higher volatility and currency risk on top of the fee drag
- 0.61% is higher than every index halal ETF (MNZL 0.40%, SPUS 0.45%, HLAL 0.50%)
Azzad Asset Management
- Established in 2000 - over two decades of halal wealth management experience
- AAOIFI-based screening with independent verification by IFAAS and Shariyah Review Bureau certification
- ICCR membership underscores faith-based shareholder advocacy
- Available nationwide in all 50 states
- $500,000 wrap-program minimum shuts out most investors - the Azzad Funds are the accessible entry point
- Fee schedule is not published on the website; roughly 1% declining must be confirmed in disclosures
- All-in costs stack: the wrap fee sits on top of underlying manager and fund expenses
- In-house funds are pricey by current standards (ADJEX 0.99%, WISEX 0.89% net)
Products behind the numbers
Where a row shows more than one value, it is because the provider lists several investing products. Each is tagged.
Amana Funds (7)
Azzad Asset Management (1)
- Azzad Wealth Management
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Browse all Investing optionsEditorial comparisons
How do Amana Funds and Azzad Asset Management compare for investing?
Amana Funds and Azzad Asset Management both offer investing. This page lines up 19 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.
- Amana Funds uses Mutual Funds / Actively managed; Azzad Asset Management uses Wealth Management.
- 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: 2026-10-22
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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.
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