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Investing comparison

Azzad Asset Management vs Defynance

Azzad Asset Management and Defynance both offer investing. This page lines up 16 listed data points side by side, with 9 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.
  • Azzad Asset Management uses Wealth Management; Defynance uses Closed-end private fund holding income share agreements (accredited investors only).
  • Shariah oversight: Azzad Asset Management discloses Third-Party Certified; Defynance discloses No Public Review.
  • HalalWallet Index: Azzad Asset Management holds a B; Defynance holds a B-.
  • On measurable rows, Azzad Asset Management has the better listed value on 2 and Defynance on 1.
  • They differ on 9 of the 16 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.

Azzad Asset Management vs Defynance: the full side-by-side

16 data points from each provider's published materials, lined up row by row. They differ on 9.

Azzad Asset Management - halal finance provider logo

Azzad Asset Management

B
Pays us: No. Azzad Asset Management pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
DE

Defynance

B-
Pays us: No. Defynance pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.

16 of 16 rows

Availability

  • States covered

    Same
    Azzad Asset Management: All 50 states
    Defynance: All 50 states
Costs

  • Management fee

    Azzad Asset Management: ~1% wrap fee, declining with AUM
    Defynance: 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

    Azzad Asset Management: $500,000 (wrap program); $1,000 ADJEX / $4,000 WISEX funds
    Defynance: $25,000 for accredited investors; $100,000 for qualified purchasers (the manager can make exceptions) Edge
Shariah

  • Structure

    Azzad Asset Management: Wealth Management
    Defynance: Closed-end private fund holding income share agreements (accredited investors only)

  • Shariah oversight

    Azzad Asset Management: Third-Party Certified
    Defynance: No Public Review

  • Shariah board / scholar

    Azzad Asset Management: third_party_certified
    Defynance: No Public Review

  • Published fatwa / certificate

    Same
    Azzad Asset Management: No
    Defynance: No

  • Screening standard

    Azzad Asset Management: AAOIFI standards
    Defynance: Not listed
Products

  • Products listed

    Azzad Asset Management: Azzad Wealth Management
    Defynance: Defynance Fund

  • Best for

    Azzad Asset Management: High-net-worth halal wealth management
    Defynance: Not listed

  • Product types

    Azzad Asset Management: Investment Platform
    Defynance: Private Fund

  • Account types

    Azzad Asset Management: Individual, IRA, Roth IRA
    Defynance: Not listed

  • Focus

    Azzad Asset Management: Full-Service Halal Wealth Management
    Defynance: Not listed
Track record

  • HalalWallet Index grade

    Azzad Asset Management: B Edge
    Defynance: B-

  • Founded

    Azzad Asset Management: 1997 Edge
    Defynance: 2019

  • Assets under management

    Azzad Asset Management: $1.8B firm-wide (12/31/2025, company-reported)
    Defynance: 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

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)

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
Azzad Asset Management - halal finance provider logo

Azzad Asset Management

Pays HalalWallet: No. Azzad Asset Management pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Visit Azzad Asset Management Full review
DE

Defynance

Pays HalalWallet: No. Defynance pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Visit Defynance Full review

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How do Azzad Asset Management and Defynance compare for investing?

Azzad Asset Management and Defynance both offer investing. This page lines up 16 listed data points side by side, with 9 differences, so you can see exactly where they part ways before you request quotes.

  • Both are available in all 50 states.
  • Azzad Asset Management uses Wealth Management; Defynance uses Closed-end private fund holding income share agreements (accredited investors only).
  • Shariah oversight: Azzad Asset Management 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):

According to HalalWallet (“Azzad Asset Management vs Defynance”, https://www.halalwallet.us/compare/azzad-asset-management-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.

What HalalWallet is and is not

Scholars rule; we organize the evidence. HalalWallet is an independent research and comparison site for halal financial products. It is not a lender, bank, broker or adviser, and it is not a fatwa body.

What we do

  • We document each product's contract, Shariah oversight, costs and availability, with the date we last checked.
  • We show the range of scholarly opinion on contested questions, with sources.

What we do not do

  • We do not lend, hold money, open accounts or take applications. You apply with the provider.
  • We do not issue fatwas or certify any product as halal. Rulings belong to a scholar you trust.
  • We do not give personal financial, legal or tax advice.

Where our role ends and who takes over · Who pays HalalWallet · HalalWallet Trust Standard, version 1.0

Before you decide, finish with three checks:

  • Confirm current terms and halal compliance directly with the provider. Their quote is final.
  • Read the contract structure (Murabaha, Ijara, Musharakah and so on) and any published Shariah board opinion.
  • Bring your shortlist to a qualified scholar or licensed adviser, so the conversation is about your situation, not the basics.

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