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Investing comparison

Amana Funds vs Assad Wealth Management

Amana Funds and Assad Wealth Management both offer investing. This page lines up 17 listed data points side by side, with 5 differences, so you can see exactly where they part ways before you request quotes.

Built from each provider's listed data · provider data last verified Nov 2026

At a glance

  • Both are available in all of Canada.
  • Amana Funds uses Actively managed; Assad Wealth Management uses Donor-Advised Fund.
  • Shariah oversight: Amana Funds discloses Third-Party Certified; Assad Wealth Management discloses No Public Review.
  • HalalWallet Index: Amana Funds is not yet graded; Assad Wealth Management holds a B-.
  • They differ on 5 of the 17 data points we list for investing.

No editorial verdict has been written for this pair yet. The side-by-side below is the full data view; where we have written one, you'll find it under Compare.

Amana Funds vs Assad Wealth Management: the full side-by-side

17 data points from each provider's published materials, lined up row by row. They differ on 5.

Amana Funds - halal finance provider logo

Amana Funds

Not graded yet
Pays us: No. Amana Funds pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Assad Wealth Management - halal finance provider logo

Assad Wealth Management

B-
Pays us: No. Assad Wealth Management pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.

17 of 17 rows

Availability

  • Provinces covered

    Same
    Amana Funds: All of Canada
    Assad Wealth Management: All of Canada
Costs

  • Expense ratio

    Amana Funds: 0.76% (Amana Equity Income ETF) · 0.61% (Amana Growth ETF) · 0.91% (Amana Developing World ETF)
    Assad Wealth Management: Not listed

  • Minimum investment

    Amana Funds: 1 share on Nasdaq (fractional at supporting brokers)
    Assad Wealth Management: Not listed
Shariah

  • Structure

    Amana Funds: Actively managed
    Assad Wealth Management: Donor-Advised Fund

  • Shariah oversight

    Amana Funds: Third-Party Certified
    Assad Wealth Management: No Public Review

  • Shariah board / scholar

    Amana Funds: third_party_certified
    Assad Wealth Management: No Public Review

  • Published fatwa / certificate

    Same
    Amana Funds: No
    Assad Wealth Management: No

  • Screening standard

    Amana Funds: Saturna Capital Islamic screens, reviewed by Amanie Advisors
    Assad Wealth Management: Published DJIM-style screens: debt <33%, receivables <49%, cash+IBS <33% of market value; non-permissible revenue <5%
Products

  • Products listed

    Amana Funds: Amana Equity Income ETF, Amana Growth ETF, Amana Developing World ETF
    Assad Wealth Management: A Donor-Advised Fund (DAF), Wealth Management

  • Best for

    Amana Funds: Not listed
    Assad Wealth Management: Affluent Canadian Muslim families and business owners who want to organize long-term charitable giving - sadaqa jariah, a family waqf-style fund - through one tax-receipted vehicle, and who will verify fees and the DAF's religious oversight before committing.

  • Product types

    Amana Funds: ETF
    Assad Wealth Management: Not listed

  • Tickers

    Amana Funds: AMEI, AMGR, AMEM
    Assad Wealth Management: Not listed

  • Holdings

    Amana Funds: 28 (Amana Equity Income ETF) · 30 (Amana Growth ETF)
    Assad Wealth Management: Not listed

  • Account types

    Amana Funds: Individual, IRA, Roth IRA
    Assad Wealth Management: Not listed

  • Focus

    Amana Funds: Global Dividend Equity (active) (Amana Equity Income ETF) · Global Large Growth (active) (Amana Growth ETF) · Emerging Markets (active) (Amana Developing World ETF)
    Assad Wealth Management: Not listed
Track record

  • HalalWallet Index grade

    Amana Funds: Not listed
    Assad Wealth Management: B-

  • Assets under management

    Amana Funds: $6.21M (2026-11-12) (Amana Equity Income ETF) · $9.65M (2026-11-12) (Amana Growth ETF) · $5.84M (2026-11-12) (Amana Developing World ETF)
    Assad Wealth Management: Not listed

Strengths and trade-offs

Amana Funds

  • The only US halal ETF built around dividend income - no index halal ETF targets this
  • Cheaper than the Amana Income Fund's 1.01% Investor class
  • Cash held in murabaha and wakala rather than interest-bearing instruments
  • Saturna's income strategy dates to 1986
  • Cheaper route to the Amana Growth strategy than AMAGX's 0.86% Investor class
  • 0.76% expense ratio is well above index halal ETFs (0.40%-0.55%)
  • Concentrated: 28 holdings at 11/12/2026; two positions above 10% each at 10/19/2026
  • Tiny and new: $6.21M in net assets and no track record before June 2026
  • Dividend-focused portfolios carry more residual purification than growth funds
  • 0.61% is higher than every index halal ETF (MNZL 0.40%, SPUS 0.45%, HLAL 0.50%)

Assad Wealth Management

  • Immediate tax receipt when you contribute cash or securities
  • Contributed funds stay invested under published halal screens to grow tax-free before granting
  • Grants can flow to your chosen registered charities on your own timeline
  • Administration by Charitable Impact Foundation (CHIMP), an MNP-audited public foundation
  • Family naming or anonymity options - structured as sadaqa jariah / private waqf
  • No scholar or committee is named for the Halal DAF specifically; the only verifiable religious governance sits at the underlying Mackenzie fund level
  • Two layers of unpublished fees - CHIMP administration plus Assad Wealth management - and no stated minimum
  • The 'first and only halal DAF in Canada' claim is unverified marketing with no substantiation or date given
  • The practice itself names no Shariah board or scholar - its FAQ references board oversight and its About page cites 'Shariah specialists' without identifying anyone
  • No fees, MERs, or minimums published - the fee schedule must be requested in writing

Products behind the numbers

Where a row shows more than one value, it is because the provider lists several investing products. Each is tagged.

Amana Funds (3)

  • Amana Equity Income ETF · AMEI
  • Amana Growth ETF · AMGR
  • Amana Developing World ETF · AMEM

Assad Wealth Management (2)

Amana Funds - halal finance provider logo

Amana Funds

Pays HalalWallet: No. Amana Funds pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Visit Amana Funds Full review
Assad Wealth Management - halal finance provider logo

Assad Wealth Management

Pays HalalWallet: No. Assad Wealth Management pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Visit Assad Wealth Management Full review

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How do Amana Funds and Assad Wealth Management compare for investing?

Amana Funds and Assad Wealth Management both offer investing. This page lines up 17 listed data points side by side, with 5 differences, so you can see exactly where they part ways before you request quotes.

  • Both are available in all of Canada.
  • Amana Funds uses Actively managed; Assad Wealth Management uses Donor-Advised Fund.
  • Shariah oversight: Amana Funds discloses Third-Party Certified; Assad Wealth Management discloses No Public Review.

Source: HalalWallet (halalwallet.ca)

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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: 2026-11-13

How to cite this page

Preferred format (HTML):

According to HalalWallet (“Amana Funds vs Assad Wealth Management”, https://www.halalwallet.ca/compare/amana-funds-vs-assad-wealth-management, retrieved 2026-11-14).

For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.

What HalalWallet is and is not

Scholars rule; we organize the evidence. HalalWallet is an independent research and comparison site for halal financial products. It is not a lender, bank, broker or adviser, and it is not a fatwa body.

What we do

  • We document each product's contract, Shariah oversight, costs and availability, with the date we last checked.
  • We show the range of scholarly opinion on contested questions, with sources.

What we do not do

  • We do not lend, hold money, open accounts or take applications. You apply with the provider.
  • We do not issue fatwas or certify any product as halal. Rulings belong to a scholar you trust.
  • We do not give personal financial, legal or tax advice.

Where our role ends and who takes over · Who pays HalalWallet · HalalWallet Trust Standard, version 1.0

Before you decide, finish with three checks:

  • Confirm current terms and halal compliance directly with the provider. Their quote is final.
  • Read the contract structure (Murabaha, Ijara, Musharakah and so on) and any published Shariah board opinion.
  • Bring your shortlist to a qualified scholar or licensed adviser, so the conversation is about your situation, not the basics.

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