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Investing comparison

Amana Funds vs Manzil

Amana Funds and Manzil both offer investing. This page lines up 17 listed data points side by side, with 11 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; Manzil uses Wealth Management.
  • Shariah oversight: Amana Funds discloses Third-Party Certified; Manzil discloses Formal Board.
  • HalalWallet Index: Amana Funds is not yet graded; Manzil holds a A-.
  • They differ on 11 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 Manzil: the full side-by-side

17 data points from each provider's published materials, lined up row by row. They differ on 11.

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.
Manzil - halal finance provider logo

Manzil

A-
Pays us: No. Manzil 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
    Manzil: 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)
    Manzil: 0.40%

  • Minimum investment

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

  • Structure

    Amana Funds: Actively managed
    Manzil: Wealth Management

  • Shariah oversight

    Amana Funds: Third-Party Certified
    Manzil: Formal Board

  • Shariah board / scholar

    Amana Funds: third_party_certified
    Manzil: Formal Board

  • Published fatwa / certificate

    Same
    Amana Funds: No
    Manzil: No

  • Screening standard

    Amana Funds: Saturna Capital Islamic screens, reviewed by Amanie Advisors
    Manzil: Russell IdealRatings Manzil Halal USA Broad Market Index
Products

  • Products listed

    Amana Funds: Amana Equity Income ETF, Amana Growth ETF, Amana Developing World ETF
    Manzil: Wealth Management, Personal Account (Non-Registered), Business Account (Non-Registered), TFSA - Tax-Free Savings Account, FHSA - First Home Savings Account, RESP - Registered Education Savings Plan +2 more

  • Best for

    Amana Funds: Not listed
    Manzil: Individuals investing outside registered accounts - an emergency fund, Hajj savings, a future down payment - who want a managed halal portfolio with no contribution ceiling and money accessible at any time.

  • Product types

    Amana Funds: ETF
    Manzil: Investment Platform, ETF

  • Tickers

    Amana Funds: AMEI, AMGR, AMEM
    Manzil: MNZL

  • Holdings

    Amana Funds: 28 (Amana Equity Income ETF) · 30 (Amana Growth ETF)
    Manzil: ~480

  • Account types

    Amana Funds: Individual, IRA, Roth IRA
    Manzil: 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)
    Manzil: Managed Halal Portfolios (Wealth Management) · US Large & Mid Cap (Manzil Russell Halal USA B…)
Track record

  • HalalWallet Index grade

    Amana Funds: Not listed
    Manzil: A-

  • 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)
    Manzil: $39.96M (2026-11-13)

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%)

Manzil

  • Portfolios built to AAOIFI standards and matched to your goals and risk tolerance
  • Portfolio management provided by Corex Financial Inc.
  • Works across registered and non-registered accounts
  • Accessible online and through the Manzil Invest mobile app
  • No contribution limits or withdrawal restrictions - invest with full flexibility
  • Managed approach means you don't pick individual securities
  • Management fees aren't published - the posted $48/year + 0.40% pricing applies to Manzil's US platform, so confirm CAD pricing before signing up
  • No published minimum for the wealth management tier - expect a suitability conversation before onboarding
  • No tax shelter - gains and investment income are taxable each year
  • Limited to Manzil's managed halal portfolio lineup

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

Manzil (8)

  • Wealth ManagementDetails
  • Personal Account (Non-Registered)Details
  • Business Account (Non-Registered)Details
  • TFSA - Tax-Free Savings AccountDetails
  • FHSA - First Home Savings AccountDetails
  • RESP - Registered Education Savings PlanDetails
  • Joint Account (Non-Registered)Details
  • Manzil Russell Halal USA Broad Market ETF · MNZLDetails
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
Manzil - halal finance provider logo

Manzil

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

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How do Amana Funds and Manzil compare for investing?

Amana Funds and Manzil both offer investing. This page lines up 17 listed data points side by side, with 11 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; Manzil uses Wealth Management.
  • Shariah oversight: Amana Funds discloses Third-Party Certified; Manzil discloses Formal Board.

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 Manzil”, https://www.halalwallet.ca/compare/amana-funds-vs-manzil, 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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