Amana Funds vs Wealthsimple
Amana Funds and Wealthsimple both offer investing. This page lines up 17 listed data points side by side, with 9 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; Wealthsimple uses Index-based.
- Both disclose the same level of Shariah oversight: Third-Party Certified.
- HalalWallet Index: Amana Funds is not yet graded; Wealthsimple holds a B-.
- They differ on 9 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 Wealthsimple: the full side-by-side
17 data points from each provider's published materials, lined up row by row. They differ on 9.
Amana Funds
Wealthsimple
Pays us: No. Wealthsimple 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 CanadaWealthsimple: All of Canada
Expense ratio
Amana Funds: 0.76% (Amana Equity Income ETF) · 0.61% (Amana Growth ETF) · 0.91% (Amana Developing World ETF)Wealthsimple: 0.50%Minimum investment
Amana Funds: 1 share on Nasdaq (fractional at supporting brokers)Wealthsimple: Not listed
Structure
Amana Funds: Actively managedWealthsimple: Index-basedShariah oversight
SameAmana Funds: Third-Party CertifiedWealthsimple: Third-Party CertifiedShariah board / scholar
Amana Funds: third_party_certifiedWealthsimple: Ratings Intelligence PartnersPublished fatwa / certificate
SameAmana Funds: NoWealthsimple: NoScreening standard
Amana Funds: Saturna Capital Islamic screens, reviewed by Amanie AdvisorsWealthsimple: Dow Jones Islamic Market screens - certified by Ratings Intelligence Partners
Products listed
Amana Funds: Amana Equity Income ETF, Amana Growth ETF, Amana Developing World ETFWealthsimple: Wealthsimple Shariah World Equity Index ETFBest for
Amana Funds: Not listedWealthsimple: The only Canadian-listed halal ETF - CAD-denominated core holding with no US withholding tax drag in a TFSAProduct types
SameAmana Funds: ETFWealthsimple: ETFTickers
Amana Funds: AMEI, AMGR, AMEMWealthsimple: WSHRHoldings
Amana Funds: 28 (Amana Equity Income ETF) · 30 (Amana Growth ETF)Wealthsimple: ~160Account types
Amana Funds: Individual, IRA, Roth IRAWealthsimple: 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)Wealthsimple: Global Developed Markets (CAD-listed)
HalalWallet Index grade
Amana Funds: Not listedWealthsimple: 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)Wealthsimple: C$480M
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%)
Wealthsimple
- Only halal ETF listed in Canada (Cboe Canada, trades in CAD)
- No US withholding tax on distributions in a TFSA/FHSA/RESP
- Global developed-market diversification (~160 holdings, US ~48%)
- Certified by Ratings Intelligence Partners; quarterly purification data published
- 0.50% management fee (MER slightly higher after taxes)
- Low-volatility tilt underweights the mega-cap tech that drives US index returns
- No US large-cap growth concentration - pair with SPUS/MNZL for that exposure
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
Wealthsimple (1)
- Wealthsimple Shariah World Equity Index ETF · WSHR
Amana Funds
Pays HalalWallet: No. Amana Funds pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Wealthsimple
Pays HalalWallet: No. Wealthsimple 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 optionsEditorial comparisons
How do Amana Funds and Wealthsimple compare for investing?
Amana Funds and Wealthsimple both offer investing. This page lines up 17 listed data points side by side, with 9 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; Wealthsimple uses Index-based.
- Both disclose the same level of Shariah oversight: Third-Party Certified.
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-wealthsimple, 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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What we do
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What we do not do
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