Amana Funds vs Musaffa
Amana Funds and Musaffa 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.
- Amana Funds uses Mutual Funds / Actively managed; Musaffa uses ETF Screener / Stock Screener.
- Shariah oversight: Amana Funds discloses Third-Party Certified; Musaffa discloses Formal Board.
- HalalWallet Index: Amana Funds holds a B-; Musaffa holds a B-.
- On measurable rows, Amana Funds has the better listed value on 1 and Musaffa on 0.
- 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.
Amana Funds vs Musaffa: 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
SameAmana Funds: All 50 statesMusaffa: 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))Musaffa: 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))Musaffa: $0 free tier; $72/year Foundation planMinimum investment
Amana Funds: $100 ($100,000 institutional) (Amana Developing World Fun…) · 1 share on Nasdaq (fractional at supporting brokers) (Amana Growth ETF)Musaffa: Not listed
Structure
Amana Funds: Mutual Funds / Actively managedMusaffa: ETF Screener / Stock ScreenerShariah oversight
Amana Funds: Third-Party CertifiedMusaffa: Formal BoardShariah board / scholar
Amana Funds: third_party_certifiedMusaffa: formal_boardPublished fatwa / certificate
SameAmana Funds: NoMusaffa: NoScreening standard
Amana Funds: AAOIFI standards (Amana Developing World Fun…) · Saturna Capital Islamic screens, reviewed by Amanie Advisors (Amana Growth ETF)Musaffa: 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 moreMusaffa: Halal ETF Finder, Musaffa Halal Stock ScreenerBest for
Amana Funds: Halal emerging market exposureMusaffa: Investors comparing halal ETFs - or checking whether the mainstream fund in their 401(k) has a compliant alternative - who want holdings-level AAOIFI screening rather than taking a fund label on trust.Product types
Amana Funds: Mutual Fund, ETFMusaffa: Stock ScreenerTickers
Amana Funds: AMDWX, AMGR, AMEI, AMEM, AMAPX +2 moreMusaffa: Not listedHoldings
Amana Funds: 31 (Amana Growth ETF) · 32 (Amana Equity Income ETF)Musaffa: Not listedAccount types
SameAmana Funds: Individual, IRA, Roth IRAMusaffa: 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))Musaffa: Halal Stock Screening
HalalWallet Index grade
SameAmana Funds: B-Musaffa: B-Founded
Amana Funds: 1986 EdgeMusaffa: 2020Assets 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))Musaffa: Not listed
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%)
Musaffa
- Searches and compares halal ETFs in one place
- Screening runs against AAOIFI standards with continuous monitoring
- Methodology reviewed by named Shariah advisors
- Available nationwide in all 50 states
- Automated AAOIFI-standard screening for stocks and ETFs
- Covers ETFs only - individual stock research sits in Musaffa's separate screener
- A comparison tool, not a brokerage - you buy through your own account
- Detailed reports and filters require the paid Foundation plan
- A research platform, not a brokerage - trades execute elsewhere
- Founded in 2020, so a shorter operating history than legacy Islamic finance firms
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)
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How do Amana Funds and Musaffa compare for investing?
Amana Funds and Musaffa 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.
- Amana Funds uses Mutual Funds / Actively managed; Musaffa uses ETF Screener / Stock Screener.
- Shariah oversight: Amana Funds discloses Third-Party Certified; Musaffa 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: 2026-10-19
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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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