Investing · SPFunds
SPFunds SP Funds S&P World ETF
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.
SPWO completes the halal three-fund portfolio: a NYSE-listed ETF tracking the S&P Developed Markets Ex-US & Emerging Markets 50/50 Shariah Index, spreading roughly 400-500 holdings across dozens of countries as the international sleeve alongside SPUS (US equity) and SPSK (sukuk). At the 2026-08-04 fund page check it held $200.07M in net assets at a 0.45% expense ratio - matching SPUS as the family's cheapest - with monthly distributions and a 0.77% 30-day SEC yield. Quarterly purification factors are published (Q1 2026: 1.55% of dividends) with the standard SP Funds compliance documentation.
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What is the SPFunds SP Funds S&P World ETF?
SPWO completes the halal three-fund portfolio: a NYSE-listed ETF tracking the S&P Developed Markets Ex-US & Emerging Markets 50/50 Shariah Index, spreading roughly 400-500 holdings across dozens of countries as the international sleeve alongside SPUS (US equity) and SPSK (sukuk). 77% 30-day SEC yield.
- Contract structure: Index-based.
- Expense ratio: 0.45%.
- Available in all 50 states.
- Shariah oversight disclosed: Third-Party Certified.
- HalalWallet Index grade for SPFunds in Investing: B.
- Verified against SPFunds's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.us)
Key facts
- Structure
- Index-based
- Program type
- ETF
- Ticker
- SPWO
- Expense ratio
- 0.45%
- Screening method
- S&P World Shariah screening
- Holdings
- ~400
- Assets under management
- $200M (2026-08-04)
- Focus
- Global Large Blend
- Account types
- Individual, IRA, Roth IRA
- Availability
- all 50 states
- Shariah oversight
- Third-Party Certified
- Provider founded
- 2019
- Last verified
- 2026-08-05
Facts are taken from SPFunds's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
SPWO fixes the home-country bias that quietly dominates most American halal portfolios - before it launched, getting screened international exposure meant either Wahed's pricier UMMA at 0.65% or nothing. The 50/50 developed-ex-US and emerging split is a sensible single-fund compromise, the holdings run several hundred deep, and the fee cut to 0.45% (from the previously listed 0.55%) makes it the cheapest international halal fund available. SP Funds' compliance package - accreditation certificate, auditor report, quarterly purification factors - applies as across the family. The honest caveats: $200M is still modest, spreads reflect that, and the emerging-markets half will periodically test your patience. As the international third of a SPUS/SPSK/SPWO portfolio at roughly a third of your equity weight, it is the straightforward choice.
Strengths
- Broadest halal international diversification available in one US-listed fund
- 50/50 developed ex-US and emerging markets split covers both worlds systematically
- 0.45% expense ratio now matches SPUS as the cheapest in the SP Funds family
- Completes a simple three-fund halal portfolio with SPUS and SPSK
Watch-outs
- Some US overlap in practice reduces the diversification purity versus a strict ex-US fund
- Emerging-markets half brings currency and governance risk
- At $200M it is the family's smallest equity fund, with correspondingly wider spreads
Is the SPFunds SP Funds S&P World ETF halal?
SPWO completes the halal three-fund portfolio: it tracks the S&P Developed Markets Ex-US & Emerging Markets 50/50 Shariah Index - roughly 500 constituents from 42 countries at the index's December 2023 composition date - giving screened international exposure that pairs with SPUS for US equity and SPSK for sukuk. Every constituent has passed Shariah business-activity and financial-ratio screens under the AAOIFI-aligned rules SP Funds applies family-wide: under 5% of revenue from prohibited sources, interest-bearing debt within 30-33% of market capitalization on a trailing 12-month average, and quarterly compliance rebalancing that removes names that fail. The fund publishes its own Certificate of Sharia Accreditation and Sharia Auditor Report, and quarterly purification factors are posted with a free calculator (Q1 2026: 1.55% of dividends) - SP Funds computes the impurity but leaves the charitable donation to the investor to avoid tax complications. Firm-level oversight is anchored by Shaykh Umer Khan, ShariaPortfolio's Sharia Advisor since October 2022, a mufti with ifta' from Darulifta Birmingham and a Wharton Master's in Finance. Honest notes for diligence: capped-index weighting still produced an exceptional single-stock position (Taiwan Semiconductor near 20% at mid-2026), the SPWO web page has contained cloned template errors in its fund-details block, the certifying scholars are not named, and no standing multi-member Shariah board exists at the manager level.
Shariah oversight disclosed by SPFunds
Sharia compliance overseen by Raqaba LLC as Sharia Advisor. Advises on AAOIFI/Islamic standards; annual audits.
Read our full AAOIFI-based Shariah screen for SPWO →
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Tracks the S&P DM Ex-US & EM 50/50 Shariah Index - ~500 constituents across 42 countries
- The international sleeve of the halal three-fund portfolio (SPUS + SPSK + SPWO)
- NYSE-listed with monthly distributions
- Published Certificate of Sharia Accreditation and Sharia Auditor Report
- Quarterly purification factors published with a free calculator (Q1 2026: 1.55% of dividends)
- IRA and 401(k) eligible; fractional shares from $1-$10 depending on broker
Cost and terms
0.45% expense ratio (verified 2026-08-05 on the fund page; previously listed at 0.55%); no fund-level minimum. Net assets $200.07M; 30-day SEC yield 0.77% as of 07/31/2026. Monthly distributions; quarterly purification factors published (Q1 2026: 1.55% of dividends).
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 S&P World ETF (this page) | Index-based | Third-Party Certified | all 50 states | B |
| Wahed Dow Jones Islamic World ETF | Index-based | Third-Party Certified | all 50 states | B+ |
| Manzil Russell Halal USA Broad Market ETF | Index-based | Third-Party Certified | 49 states | A |
| Musaffa Halal ETF Finder | ETF Screener | Formal Board | all 50 states | — |
| Amana Developing World Fund (AMDWX) | Mutual Funds | Third-Party Certified | all 50 states | — |
Other SPFunds products
- SP Funds S&P 500 Shariah Industry Exclusions ETF
Investing · Index-based
- SP Funds S&P Global Technology ETF
Investing · Index-based
- SP Funds Dow Jones Global Sukuk ETF
Investing · Index-based
- SP Funds S&P Global REIT Shariah ETF
Investing · Index-based
Where it's available
SPFunds lists the SP Funds S&P World ETF 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 S&P World ETF halal?
SPWO completes the halal three-fund portfolio: it tracks the S&P Developed Markets Ex-US & Emerging Markets 50/50 Shariah Index - roughly 500 constituents from 42 countries at the index's December 2023 composition date - giving screened international exposure that pairs with SPUS for US equity and SPSK for sukuk. Contract structure: Index-based. 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 S&P World ETF work?
SPWO completes the halal three-fund portfolio: a NYSE-listed ETF tracking the S&P Developed Markets Ex-US & Emerging Markets 50/50 Shariah Index, spreading roughly 400-500 holdings across dozens of countries as the international sleeve alongside SPUS (US equity) and SPSK (sukuk). 77% 30-day SEC yield. 55% of dividends) with the standard SP Funds compliance documentation.
What does the SPFunds SP Funds S&P World ETF cost?
0.45% expense ratio (verified 2026-08-05 on the fund page; previously listed at 0.55%); no fund-level minimum. Net assets $200.07M; 30-day SEC yield 0.77% as of 07/31/2026. Monthly distributions; quarterly purification factors published (Q1 2026: 1.55% of dividends).
Where is the SPFunds SP Funds S&P World ETF 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 S&P World ETF?
In the same category we also list Wahed Dow Jones Islamic World ETF (HalalWallet Index B+), Manzil Russell Halal USA Broad Market ETF (HalalWallet Index A), Musaffa Halal ETF Finder. 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 S&P World ETF details against SPFunds's published materials on 2026-08-05. Rates, fees, and availability can change after that date.
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.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
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