Verdict: SP Funds is the most complete halal ETF family a Canadian can buy. SPUS covers US large caps, SPSK is the closest thing to a halal bond fund, and SPRE, SPTE, and SPWO fill in real estate, tech, and international stocks. They are listed on the NYSE in US dollars, so you pay currency conversion and need to think about which account they go in.
SP Funds ETFs are available to investors in all 10 provinces through any brokerage with US market access. Compare them with Canadian-listed options on the investing hub.
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The Five SP Funds ETFs
| Ticker | What it holds | Expense ratio | Net assets |
|---|---|---|---|
| SPUS | About 210 US large caps | 0.45% | $2.9B |
| SPSK | About 170 USD sukuk | 0.50% | $645M |
| SPRE | About 30 global REITs | 0.50% | $221M |
| SPTE | About 100 global tech names | 0.55% | $217M |
| SPWO | About 500 non-US stocks | 0.55% | $200M |
Net assets are as of August 2026. All five are Shariah-screened and third-party certified.
SPUS: The Core Holding
SPUS is the largest halal ETF in North America at $2.9 billion. It tracks the S&P 500 Shariah Industry Exclusions Index, roughly 210 US large caps that pass business-activity and financial-ratio screens. At 0.45%, it is the cheapest fund in the family and pays monthly.
Canadians often compare it with MNZL and HLAL. See HLAL vs MNZL and the Manzil MNZL review.
SPSK: A Halal Bond Alternative
SPSK is the only US-listed sukuk ETF. It holds about 170 investment-grade, US-dollar sukuk whose returns come from underlying assets and profit streams instead of interest. SP Funds says no purification is needed on SPSK because sukuk are Shariah-compliant by design.
For investors near retirement, SPSK is one of the few ways to add a steadier fixed-income piece to a halal portfolio. Read halal sukuk and fixed income in Canada.
SPRE, SPTE, and SPWO
- SPRE holds about 30 global REITs screened for rental income sources and leverage. It carries the family's lowest purification factor, 0.52% of dividends in Q1 2026
- SPTE holds about 100 tech names from 14 countries, including non-US leaders like Taiwan Semiconductor. It carries the family's highest purification factor, 2.27% of dividends in Q1 2026
- SPWO holds about 500 Shariah-screened stocks outside the US, split evenly between developed and emerging markets. Taiwan Semiconductor was close to 20% of the fund at mid-2026
Together, SPUS, SPWO, and SPSK make a simple halal three-fund portfolio: US stocks, international stocks, and sukuk.
Purification in Practice
Even screened companies earn a small amount of non-compliant income, such as interest on cash. Purification means giving that share of your dividends to charity. SP Funds publishes a factor for each fund every quarter and offers a free calculator.
The math is simple. If SPTE paid you $100 in dividends in a quarter with a 2.27% factor, you would give $2.27 to charity. On SPRE, with a 0.52% factor, the same $100 would mean $0.52. Keep a simple spreadsheet so you do not have to rebuild it at year end.
Buying SP Funds From Canada
Because these funds trade in US dollars, you convert Canadian dollars first. Brokerage conversion fees can quietly cost more than the expense ratio. Some investors use Norbert's Gambit to cut that cost. See Norbert's Gambit for US halal ETFs.
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Account choice matters too. US withholding tax on dividends is treated differently in a TFSA, an RRSP, and a non-registered account. Read US-listed halal ETFs in a Canadian TFSA before you decide where to hold them.
SP Funds vs Canadian-Listed Options
| If you want | Consider |
|---|---|
| Lowest-cost US halal stocks | SPUS |
| Halal fixed income | SPSK |
| Canadian-dollar trading | WSHR |
| A managed halal portfolio | Manzil or Wahed |
If you would rather avoid currency conversion, look at WSHR. Manzil also offers managed halal investing across registered accounts.
Frequently Asked Questions
Can Canadians buy SPUS?
Yes. SPUS trades on the NYSE in US dollars. Canadians can buy it through any brokerage with US market access.
Is SPUS halal?
SPUS tracks the S&P 500 Shariah Industry Exclusions Index and is third-party Shariah certified. SP Funds publishes quarterly purification factors so you can clean any non-compliant income.
What is the best halal bond ETF in Canada?
SPSK is the only US-listed sukuk ETF available through a Canadian brokerage. It holds about 170 investment-grade sukuk with a 0.50% expense ratio.
Should I hold SP Funds in my TFSA or RRSP?
It depends on withholding tax and your goals. Read US-listed halal ETFs in a Canadian TFSA and ask a tax professional for your situation.
Do I need to purify dividends from SP Funds?
On SPUS, SPRE, SPTE, and SPWO, yes. SP Funds publishes purification factors quarterly. On SPSK, SP Funds says no purification is required.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
If you want low-cost halal ETFs and do not mind US dollars, SP Funds is a strong place to start. Compare it with Canadian-listed options on the investing hub.
