Azzad Asset Management vs Manzil
Azzad Asset Management and Manzil both offer investing. This page lines up 19 listed data points side by side, with 14 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.
- Azzad Asset Management uses Wealth Management; Manzil uses Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya).
- Shariah oversight: Azzad Asset Management discloses Third-Party Certified; Manzil discloses Formal Board.
- HalalWallet Index: Azzad Asset Management holds a B; Manzil holds a A.
- On measurable rows, Azzad Asset Management has the better listed value on 2 and Manzil on 1.
- They differ on 14 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.
Azzad Asset Management vs Manzil: the full side-by-side
19 data points from each provider's published materials, lined up row by row. They differ on 14.
19 of 19 rows
States covered
SameAzzad Asset Management: All 50 statesManzil: All 50 states
Expense ratio
Azzad Asset Management: Not listedManzil: 0.40%Management fee
Azzad Asset Management: ~1% wrap fee, declining with AUMManzil: 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
Azzad Asset Management: $500,000 (wrap program); $1,000 ADJEX / $4,000 WISEX fundsManzil: $100 (Wealth Management) · $100 minimum in assets; fractional shares (Manzil Trading (Self-Direc…)
Structure
Azzad Asset Management: Wealth ManagementManzil: Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya)Shariah oversight
Azzad Asset Management: Third-Party CertifiedManzil: Formal BoardShariah board / scholar
Azzad Asset Management: third_party_certifiedManzil: Formal BoardPublished fatwa / certificate
SameAzzad Asset Management: NoManzil: NoScreening standard
Azzad Asset Management: AAOIFI standardsManzil: 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
Azzad Asset Management: Azzad Wealth ManagementManzil: Wealth Management, Manzil Trading (Self-Directed Halal Stock Trading), Manzil Russell Halal USA Broad Market ETFBest for
Azzad Asset Management: High-net-worth halal wealth managementManzil: Halal portfolio managementProduct types
Azzad Asset Management: Investment PlatformManzil: Investment Platform, Brokerage, ETFTickers
Azzad Asset Management: Not listedManzil: MNZLHoldings
Azzad Asset Management: Not listedManzil: ~490Account types
Azzad Asset Management: Individual, IRA, Roth IRAManzil: Individual taxable brokerage (via the Manzil app), Individual, IRA, Roth IRAFocus
Azzad Asset Management: Full-Service Halal Wealth ManagementManzil: Managed Halal Portfolios (Wealth Management) · US Large & Mid Cap (Manzil Russell Halal USA B…)
HalalWallet Index grade
Azzad Asset Management: BManzil: A EdgeFounded
Azzad Asset Management: 1997 EdgeManzil: 2019Assets under management
Azzad Asset Management: $1.8B firm-wide (12/31/2025, company-reported) EdgeManzil: $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
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)
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 Azzad Asset Management and Manzil compare for investing?
Azzad Asset Management and Manzil both offer investing. This page lines up 19 listed data points side by side, with 14 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; Manzil uses Wealth Management / Self-directed brokerage with real-time AAOIFI screening (Zoya).
- Shariah oversight: Azzad Asset Management 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: 2026-10-22
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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.
- 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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