Amana Funds vs Musaffa
Amana Funds and Musaffa both offer investing. This page lines up 17 listed data points side by side, with 6 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; Musaffa uses Stock Screener.
- Shariah oversight: Amana Funds discloses Third-Party Certified; Musaffa discloses Named Scholar.
- HalalWallet Index: Amana Funds is not yet graded; Musaffa holds a B-.
- They differ on 6 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 Musaffa: the full side-by-side
17 data points from each provider's published materials, lined up row by row. They differ on 6.
Amana Funds
Musaffa
Pays us: No. Musaffa pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.17 of 17 rows
Provinces covered
SameAmana Funds: All of CanadaMusaffa: All of Canada
Expense ratio
Amana Funds: 0.76% (Amana Equity Income ETF) · 0.61% (Amana Growth ETF) · 0.91% (Amana Developing World ETF)Musaffa: Not listedMinimum investment
Amana Funds: 1 share on Nasdaq (fractional at supporting brokers)Musaffa: Not listed
Structure
Amana Funds: Actively managedMusaffa: Stock ScreenerShariah oversight
Amana Funds: Third-Party CertifiedMusaffa: Named ScholarShariah board / scholar
Amana Funds: third_party_certifiedMusaffa: Named ScholarPublished fatwa / certificate
SameAmana Funds: NoMusaffa: NoScreening standard
Amana Funds: Saturna Capital Islamic screens, reviewed by Amanie AdvisorsMusaffa: AAOIFI - non-permissible income <=5% of revenue; interest-bearing assets and debt each <=30% of trailing 36-month average market cap
Products listed
Amana Funds: Amana Equity Income ETF, Amana Growth ETF, Amana Developing World ETFMusaffa: Sharia Compliance Investment ScreeningBest for
Amana Funds: Not listedMusaffa: Canadian investors who want graded, published-methodology halal screening across TSX and global stocks as a research layer over their existing brokerage - Musaffa's trading service itself doesn't serve Canada.Product types
Amana Funds: ETFMusaffa: Stock ScreenerTickers
Amana Funds: AMEI, AMGR, AMEMMusaffa: Not listedHoldings
Amana Funds: 28 (Amana Equity Income ETF) · 30 (Amana Growth ETF)Musaffa: Not listedAccount types
Amana Funds: Individual, IRA, Roth IRAMusaffa: Not listedFocus
Amana Funds: Global Dividend Equity (active) (Amana Equity Income ETF) · Global Large Growth (active) (Amana Growth ETF) · Emerging Markets (active) (Amana Developing World ETF)Musaffa: Not listed
HalalWallet Index grade
Amana Funds: Not listedMusaffa: 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)Musaffa: 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%)
Musaffa
- Screening methodology developed under named advisors, including Shaikh Dr. Aznan Hasan and Mufti Faraz Adam
- Dedicated Sharia stock screening platform with C- to A+ graded verdicts and compliance history
- Canadian broker connections: Wealthsimple, Questrade, and Webull Canada for portfolio tracking and purification
- Transparent published methodology with AAOIFI three-ratio formulas
- Research platform only for Canadians - trading happens at your own brokerage, since Musaffa's trading service is US-only
- Foundation plan required for detailed compliance reports and purification - the free tier shows basic status only
- Prices are in USD despite serving Canadian users
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
Musaffa (1)
- Sharia Compliance Investment Screening
Amana Funds
Pays HalalWallet: No. Amana Funds pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Musaffa
Pays HalalWallet: No. Musaffa pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Not sure which is right? Compare all investing providers.
Browse all Investing optionsHow do Amana Funds and Musaffa compare for investing?
Amana Funds and Musaffa both offer investing. This page lines up 17 listed data points side by side, with 6 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; Musaffa uses Stock Screener.
- Shariah oversight: Amana Funds discloses Third-Party Certified; Musaffa discloses Named Scholar.
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):
https://www.halalwallet.ca/compare/amana-funds-vs-musaffa, 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.
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