Investing · SPFunds
SPFunds SP Funds 2030 Target Date Fund (SPTAX)
Co-Founder & CEO, HalalWallet
Facts are re-verified against SPFunds's published materials; this page updates when the provider's terms, rates, or coverage change.
The SP Funds 2030 Target Date Fund (SPTAX) is a Sharia-compliant fund-of-funds for investors expecting to retire around 2030. It allocates across the five SP Funds ETFs plus a small gold position and shifts more conservative as the target date nears. At the 2026-10-26 holdings snapshot the mix was roughly 50% sukuk (SPSK), 21% US large-cap (SPUS), 10% global REITs (SPRE), 7% ex-US equity (SPWO), 7% global tech (SPTE), 2.5% gold (GLD) and 2% non-interest-bearing cash. Investor shares launched 6/28/2024 and carry a 1.31% total expense ratio; institutional shares (SPTMX, 8/29/2024) charge 0.91% with a $50,000 minimum. The fund is small - about $6.4M across both classes - and returned 8.09% for the year to 9/30/2026 (7.36% annualized since inception).
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What is the SPFunds SP Funds 2030 Target Date Fund (SPTAX)?
The SP Funds 2030 Target Date Fund (SPTAX) is a Sharia-compliant fund-of-funds for investors expecting to retire around 2030. It allocates across the five SP Funds ETFs plus a small gold position and shifts more conservative as the target date nears.
- Contract structure: Mutual Funds.
- Expense ratio: 1.31% (SPTAX) / 0.91% (SPTMX).
- Available in all 50 states.
- Shariah oversight disclosed: Third-Party Certified.
- HalalWallet Index grade for SPFunds in Investing: A-.
- Verified against SPFunds's published materials on 2026-10-27.
Source: HalalWallet (halalwallet.us)
Key facts
- Structure
- Mutual Funds
- Program type
- Mutual Fund
- Ticker
- SPTAX
- Expense ratio
- 1.31% (SPTAX) / 0.91% (SPTMX)
- Management fee
- 0.45% (unitary fee to ShariaPortfolio, Inc.)
- Minimum investment
- $250 ($50,000 institutional); $25 subsequent
- Screening method
- AAOIFI standards via underlying SP Funds ETFs
- Holdings
- 7 (SPSK, SPUS, SPRE, SPWO, SPTE, GLD, cash)
- Assets under management
- $6.36M fund total; $3.58M Investor class (2026-10-26)
- Focus
- Target Date / Retirement
- Account types
- Individual, IRA, Roth IRA, Employer retirement plan
- Availability
- all 50 states
- Shariah oversight
- Third-Party Certified
- Last verified
- 2026-10-27
Facts are taken from SPFunds'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
SPTAX answers a question halal investors have asked for years - is there a set-and-forget retirement fund? - and the answer is yes, with trade-offs. The structure is sound: sukuk for income, SP Funds' certified ETFs for equity, cash held without interest. But you pay 1.31% for the convenience, about three times what the same ETFs cost unbundled, and the fund is small enough that it has yet to prove economic viability (the prospectus says so itself). The gold sleeve is a judgment call some scholars will accept and others will not. For a 401(k) or IRA where you genuinely will not rebalance yourself, it is a reasonable choice; a self-directed investor can replicate the allocation with SPSK and SPUS for a fraction of the fee.
Strengths
- One-ticket halal retirement allocation that rebalances itself - nothing else like it in US mutual funds
- Underlying ETFs each publish Sharia certificates and quarterly purification factors
- Sukuk instead of bonds for the income sleeve; cash held without interest
- $250 minimum, waived in IRAs and employer plans
Watch-outs
- 1.31% Investor-class expense ratio - roughly three times the cost of holding the underlying ETFs directly
- Tiny fund (~$6.4M) with a track record only since mid-2024
- No fund-level Shariah certificate or purification factor - compliance is inherited from the underlying ETFs
- Holds SPDR Gold Shares (GLD), a third-party gold ETF without its own Shariah certification
Is the SPFunds SP Funds 2030 Target Date Fund (SPTAX) halal?
SPTAX gets its compliance from the SP Funds ETFs it holds rather than from a certificate of its own. Each underlying ETF is screened to AAOIFI standards (less than 5% impure revenue, interest-bearing debt capped at roughly 30-33% of market cap) and publishes a Certificate of Sharia Accreditation and Sharia Auditor Report; the prospectus states the Adviser engages a third party to certify those affiliated funds. The fund's fixed-income sleeve is sukuk via SPSK rather than conventional bonds, and its cash does not earn interest. Two honest caveats: there is no fund-level purification factor (SP Funds publishes them per ETF, so investors must compute purification from the look-through), and the 2030 fund holds a small position in SPDR Gold Shares (GLD), a third-party gold ETF with no published Shariah certification.
Shariah oversight disclosed by SPFunds
Fund-of-funds holding SP Funds' AAOIFI-screened ETFs; Shariah compliance is certified at the underlying-ETF level by a third party engaged by the Adviser.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Sharia-compliant target-date fund for a ~2030 retirement - the only halal TDF family listed in the US
- Fund-of-funds: SPSK, SPUS, SPRE, SPWO, SPTE plus a ~2.5% SPDR Gold (GLD) sleeve and non-interest-bearing cash
- Conservative glide path - roughly half the fund in sukuk (SPSK) at the 2026-10-26 snapshot
- Investor shares SPTAX (1.31%, $250 minimum) and Institutional shares SPTMX (0.91%, $50,000 minimum)
- Managed by Naushad Virji at ShariaPortfolio, Inc.; distributed by Foreside Fund Services
- Series of SP Funds Trust (SEC file 811-23893); semi-annual shareholder reports filed
Cost and terms
Total annual operating expenses 1.31% for Investor shares (SPTAX): 0.45% unitary management fee + 0.25% 12b-1 fee + 0.46% acquired fund fees from the underlying SP Funds ETFs. Institutional shares (SPTMX) 0.91% with no 12b-1 fee. Minimum initial investment $250 Investor / $50,000 Institutional, $25 subsequent; minimums may be waived in employer plans and IRAs. No sales load. Portfolio turnover 7% for fiscal 2025. (SEC summary prospectus dated 2026-02-27 and sp-funds.com fund page, verified 2026-10-27.)
How it compares
Other investing providers we list in the U.S., ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| SPFunds SP Funds 2030 Target Date Fund (SPTAX) (this page) | Mutual Funds | Third-Party Certified | all 50 states | A- |
| Amana Participation Fund (AMAPX) | Mutual Funds | Third-Party Certified | all 50 states | Not graded |
| Manzil Trading (Self-Directed Halal Stock Trading) | Self-directed brokerage with real-time AAOIFI screening (Zoya) | Formal Board | all 50 states | A |
| ShariaPortfolio Express | Wealth Management | Named Scholar | all 50 states | B |
| Wahed FTSE USA Shariah ETF | Index-based | Third-Party Certified | all 50 states | B |
Other SPFunds products
- SP Funds S&P Global REIT Shariah ETF
Investing · Index-based
- SP Funds S&P World ETF
Investing · Index-based
- SP Funds Dow Jones Global Sukuk ETF
Investing · Index-based
- SP Funds S&P 500 Shariah Industry Exclusions ETF
Investing · Index-based
- SP Funds 2040 Target Date Fund (SPTBX)
Investing · Mutual Funds
- SP Funds 2050 Target Date Fund (SPTCX)
Investing · Mutual Funds
- SP Funds S&P Global Technology ETF
Investing · Index-based
Where it's available
SPFunds lists the SP Funds 2030 Target Date Fund (SPTAX) as available in all 50 states.
Availability may vary by product and can change; verify with SPFunds before applying.
Frequently asked questions
Is the SPFunds SP Funds 2030 Target Date Fund (SPTAX) halal?
SPTAX gets its compliance from the SP Funds ETFs it holds rather than from a certificate of its own. Each underlying ETF is screened to AAOIFI standards (less than 5% impure revenue, interest-bearing debt capped at roughly 30-33% of market cap) and publishes a Certificate of Sharia Accreditation and Sharia Auditor Report; the prospectus states the Adviser engages a third party to certify those affiliated funds. Contract structure: Mutual Funds. Shariah oversight disclosed by SPFunds: Third-Party Certified. HalalWallet reports what the provider documents; we do not certify products.
How does the SPFunds SP Funds 2030 Target Date Fund (SPTAX) work?
The SP Funds 2030 Target Date Fund (SPTAX) is a Sharia-compliant fund-of-funds for investors expecting to retire around 2030. It allocates across the five SP Funds ETFs plus a small gold position and shifts more conservative as the target date nears. 5% gold (GLD) and 2% non-interest-bearing cash.
What does the SPFunds SP Funds 2030 Target Date Fund (SPTAX) cost?
Total annual operating expenses 1.31% for Investor shares (SPTAX): 0.45% unitary management fee + 0.25% 12b-1 fee + 0.46% acquired fund fees from the underlying SP Funds ETFs. Institutional shares (SPTMX) 0.91% with no 12b-1 fee. Minimum initial investment $250 Investor / $50,000 Institutional, $25 subsequent; minimums may be waived in employer plans and IRAs. No sales load. Portfolio turnover 7% for fiscal 2025. (SEC summary prospectus dated 2026-02-27 and sp-funds.com fund page, verified 2026-10-27.)
What are the minimums for the SPFunds SP Funds 2030 Target Date Fund (SPTAX)?
As published by SPFunds: minimum investment $250 ($50,000 institutional); $25 subsequent. Confirm current requirements with SPFunds before applying.
Where is the SPFunds SP Funds 2030 Target Date Fund (SPTAX) available?
SPFunds lists this product as available in all 50 states. Availability can change and may differ by state; verify directly with SPFunds.
What are the alternatives to the SPFunds SP Funds 2030 Target Date Fund (SPTAX)?
In the same category we also list Amana Participation Fund (AMAPX), Manzil Trading (Self-Directed Halal Stock Trading) (HalalWallet Index A), ShariaPortfolio Express (HalalWallet Index B). Compare every option side by side on our Halal Investing hub.
When was this SPFunds product information last verified?
HalalWallet last verified the SPFunds SP Funds 2030 Target Date Fund (SPTAX) details against SPFunds'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.
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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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