Investing · Compassionate Capital
Compassionate Capital Passive Sharia Portfolios
Co-Founder & CEO, HalalWallet
Facts are re-verified against Compassionate Capital's published materials; this page updates when the provider's terms, rates, or coverage change.
Compassionate Capital is the retail brand of Virji Investments, Inc., a fee-only investment adviser incorporated in Florida in February 2003 and registered with the states of Florida, California, Illinois, Texas, and Indiana (CRD 137001). Its headline offer is a passively managed, Sharia-compliant portfolio of diversified ETFs and mutual funds, built around the SP Funds family, for a flat 0.50% annual management fee. The website says no minimum deposit is required; the firm's Form ADV Part 2A states a general $50,000 minimum that the firm may waive or reduce. Portfolios are matched to your goals, risk tolerance, and time horizon, reviewed and rebalanced periodically, and held at Charles Schwab. Accounts include individual, joint, Traditional, Roth, and SEP IRAs, UTMAs, and Coverdell ESAs. CEO Naushad Virji is also the founder of ShariaPortfolio and a control person of the SP Funds ETFs, which the ADV discloses as a conflict of interest.
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What is the Compassionate Capital Passive Sharia Portfolios?
, a fee-only investment adviser incorporated in Florida in February 2003 and registered with the states of Florida, California, Illinois, Texas, and Indiana (CRD 137001). 50% annual management fee.
- Contract structure: Wealth Management.
- Available in 5 states.
- Shariah oversight disclosed: No Public Review.
- Verified against Compassionate Capital's published materials on 2026-10-27.
Source: HalalWallet (halalwallet.us)
Key facts
- Structure
- Wealth Management
- Program type
- Investment Platform
- Management fee
- 0.50% per year
- Minimum investment
- None stated on website; Form ADV says $50,000, waivable
- Screening method
- AAOIFI guidelines via SP Funds ETFs
- Focus
- Managed Halal Portfolios
- Account types
- Individual, Joint, Traditional IRA, Roth IRA, SEP IRA, UTMA, Coverdell ESA
- Purification reporting
- Yes
- Zakat calculation support
- No
- Availability
- 5 states
- Shariah oversight
- No Public Review
- Provider founded
- 2003
- Last verified
- 2026-10-27
Facts are taken from Compassionate Capital's published product materials and were last verified on 2026-10-27. Fields the provider does not publish are omitted rather than estimated.
Our take
Compassionate Capital is ShariaPortfolio's answer to Wahed: a flat 0.50% managed halal portfolio with a human adviser, a wide account menu, and the SP Funds ETFs underneath. The fee is fair and the fiduciary structure is right. What you must accept is that it is a closed loop, the adviser, the fund sub-adviser, and the ETF sponsor are all Naushad Virji's companies, and that the firm is tiny and registered in just five states. If you already believe in the SP Funds ETFs and want someone to allocate and rebalance them for you at a modest fee, this is a sensible, low-friction way to do it; if you want independent fund selection or a scholar at the adviser level, look at Wahed or Amana.
Strengths
- 0.50% is in line with Wahed and well under ShariaPortfolio's advisor-led Access tier, with a human adviser rather than a pure robo
- Low or no entry minimum per the website; broader account menu than most halal robos (UTMA, Coverdell)
- Fee-only fiduciary structure, Schwab custody, 23-year-old registered firm with no disclosures on its ADV
- Direct access to the SP Funds ETF family, the strongest halal ETFs in the US market
Watch-outs
- No named Shariah scholar or board at the adviser; oversight is inherited from the SP Funds ETFs
- Clear conflict of interest: the CEO controls the adviser, ShariaPortfolio, and the ETF sponsor, so you pay the firm twice (advisory fee plus ETF expense ratios)
- Website says no minimum; Form ADV says $50,000 unless waived; confirm before opening
- State-registered in only five states (FL, CA, IL, TX, IN); other states served under de minimis exemptions, which the firm says cap at five clients per state
- Small firm: about $33.5M AUM, 58 clients, 4 employees per the March 2026 ADV
Is the Compassionate Capital Passive Sharia Portfolios halal?
Compassionate Capital's FAQ says its approach follows AAOIFI Sharia-compliant guidelines, focusing on companies that avoid prohibited industries and are free from significant debt and interest-based financing, and its Form ADV is specific about how: passively managed portfolios are built using 'the ShariaPortfolio group of SP Fund, sharia compliant ETFs', meaning SPUS, SPSK, SPRE, SPTE, and SPWO, each of which tracks an S&P or Dow Jones Shariah index screened to AAOIFI thresholds (5% prohibited revenue, 30-33% interest-bearing debt and securities). The Shariah oversight therefore lives one level up: ShariaPortfolio, the ETFs' sub-adviser, retains Sharia Advisor Shaykh Umer Khan, and SP Funds publishes quarterly purification factors. Compassionate Capital itself names no scholar or board and holds no fatwa, which its intake submission confirms. Two things to weigh honestly. First, the same person, Naushad Virji, controls the adviser, ShariaPortfolio, and the ETF sponsor, so the firm earns on both the 0.50% advisory fee and the ETF expense ratios inside the portfolio; the ADV says so plainly and tells clients to compare alternatives. Second, the firm is a fee-only fiduciary custodied at Schwab, with no commissions, which is the right structure for a halal advisory relationship.
Shariah oversight disclosed by Compassionate Capital
No named Shariah scholar or board at the adviser level. Compassionate Capital says its approach follows AAOIFI guidelines; passive portfolios are built from the affiliated SP Funds ETFs, whose sub-adviser ShariaPortfolio retains Sharia Advisor Shaykh Umer Khan. Form ADV discloses the affiliation as a conflict of interest.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Flat 0.50% annual advisory fee on passively managed Sharia-compliant portfolios
- Built from the affiliated SP Funds ETFs (SPUS, SPSK, SPRE, SPTE, SPWO) under AAOIFI guidelines
- No minimum stated on the website; Form ADV lists a waivable $50,000
- Individual, joint, Traditional/Roth/SEP IRA, UTMA, and Coverdell ESA accounts; recurring deposits supported
- Fee-only fiduciary RIA with discretionary management and Charles Schwab custody
- Online account opening plus phone, email, and in-person support (Mon-Fri 9-5 ET) from Lake Mary, Florida
Cost and terms
Passive Sharia portfolios: 0.50% of assets per year, billed quarterly in advance on prior-quarter value. Underlying SP Funds ETF expense ratios (0.45-0.55%) and any Schwab custodial or transaction charges are additional. Minimum: website FAQ says none; Form ADV Part 2A (Item 5) says $50,000 generally, which the firm may waive or reduce. Fee-only; no commissions or performance fees on the passive program.
How it compares
Other investing providers we list in the U.S., ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| Compassionate Capital Passive Sharia Portfolios (this page) | Wealth Management | No Public Review | 5 states | Not graded |
| ShariaPortfolio Express | Wealth Management | Named Scholar | all 50 states | B |
| Wahed Invest Robo-Advisor | Robo-Advisor | Third-Party Certified | all 50 states | B |
| Manzil Trading (Self-Directed Halal Stock Trading) | Self-directed brokerage with real-time AAOIFI screening (Zoya) | Formal Board | all 50 states | A |
| SPFunds SP Funds S&P Global REIT Shariah ETF | Index-based | Third-Party Certified | all 50 states | A- |
Other Compassionate Capital products
- Compassionate Capital Active Portfolio Management
Investing · Wealth Management
Where it's available
Compassionate Capital lists the Compassionate Capital Passive Sharia Portfolios as available in 5 states.
Availability may vary by product and can change; verify with Compassionate Capital before applying.
Frequently asked questions
Is the Compassionate Capital Passive Sharia Portfolios halal?
Compassionate Capital's FAQ says its approach follows AAOIFI Sharia-compliant guidelines, focusing on companies that avoid prohibited industries and are free from significant debt and interest-based financing, and its Form ADV is specific about how: passively managed portfolios are built using 'the ShariaPortfolio group of SP Fund, sharia compliant ETFs', meaning SPUS, SPSK, SPRE, SPTE, and SPWO, each of which… Contract structure: Wealth Management. Shariah oversight disclosed by Compassionate Capital: No Public Review. HalalWallet reports what the provider documents; we do not certify products.
How does the Compassionate Capital Passive Sharia Portfolios work?
, a fee-only investment adviser incorporated in Florida in February 2003 and registered with the states of Florida, California, Illinois, Texas, and Indiana (CRD 137001). 50% annual management fee. The website says no minimum deposit is required; the firm's Form ADV Part 2A states a general $50,000 minimum that the firm may waive or reduce.
What does the Compassionate Capital Passive Sharia Portfolios cost?
Passive Sharia portfolios: 0.50% of assets per year, billed quarterly in advance on prior-quarter value. Underlying SP Funds ETF expense ratios (0.45-0.55%) and any Schwab custodial or transaction charges are additional. Minimum: website FAQ says none; Form ADV Part 2A (Item 5) says $50,000 generally, which the firm may waive or reduce. Fee-only; no commissions or performance fees on the passive program.
What are the minimums for the Compassionate Capital Passive Sharia Portfolios?
As published by Compassionate Capital: minimum investment None stated on website; Form ADV says $50,000, waivable. Confirm current requirements with Compassionate Capital before applying.
Where is the Compassionate Capital Passive Sharia Portfolios available?
Compassionate Capital lists this product as available in 5 states. Availability can change and may differ by state; verify directly with Compassionate Capital.
What are the alternatives to the Compassionate Capital Passive Sharia Portfolios?
In the same category we also list ShariaPortfolio Express (HalalWallet Index B), Wahed Invest Robo-Advisor (HalalWallet Index B), Manzil Trading (Self-Directed Halal Stock Trading) (HalalWallet Index A). Compare every option side by side on our Halal Investing hub.
When was this Compassionate Capital product information last verified?
HalalWallet last verified the Compassionate Capital Passive Sharia Portfolios details against Compassionate Capital's published materials on 2026-10-27. Rates, fees, and availability can change after that date.
See something outdated or wrong?
This data was last verified . Report a correction and we will re-check the primary source, fix the record, and log the change on our public corrections page.
Report a correctionHow 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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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-27
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