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Halal ETF & Fund Verdicts — SPUS, HLAL, Amana and More

Screening records for the ETFs and mutual funds American Muslims actually ask about — the dedicated halal funds and the conventional index funds they're compared against.

Which etfs & funds are halal?

HalalWallet maintains 15 published, dated halal verdicts for etfs & funds (12 halal · 3 not halal). Each verdict compiles what the recognized screening authorities and scholars say about that ETF or fund — with the underlying screens, sources, and review dates shown in full.

HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide.

Passes the screens12

Is Amana Developing World Fund (AMDWX) HalalIs Amana Growth Fund (AMAGX) HalalIs Amana Income Fund (AMANX) HalalIs Amana Participation Fund (AMAPX) HalalIs Manzil Russell Halal USA Broad Market ETF (MNZL) HalalIs SP Funds Dow Jones Global Sukuk ETF (SPSK) HalalIs SP Funds S&P 500 Sharia ETF (SPUS) HalalIs SP Funds S&P Global REIT Sharia ETF (SPRE) HalalIs SP Funds S&P Global Technology ETF (SPTE) HalalIs SP Funds S&P World ETF (SPWO) HalalIs Wahed Dow Jones Islamic World ETF (UMMA) HalalIs Wahed FTSE USA Shariah ETF (HLAL) Halal

Fails the screens3

Is Invesco QQQ (Nasdaq-100 ETF) HalalIs SPDR S&P 500 ETF (SPY) HalalIs Vanguard S&P 500 ETF (VOO) Halal

How to read these verdicts

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How to use this comparison: HalalWallet is an independent educational comparison platform — by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.

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.