Amana Funds vs Zoya
Amana Funds and Zoya 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; Zoya uses Stock Screener.
- Shariah oversight: Amana Funds discloses Third-Party Certified; Zoya discloses Named Scholar.
- HalalWallet Index: Amana Funds is not yet graded; Zoya 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 Zoya: 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
Zoya
Pays us: No. Zoya 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 CanadaZoya: All of Canada
Expense ratio
Amana Funds: 0.76% (Amana Equity Income ETF) · 0.61% (Amana Growth ETF) · 0.91% (Amana Developing World ETF)Zoya: Not listedMinimum investment
Amana Funds: 1 share on Nasdaq (fractional at supporting brokers)Zoya: Not listed
Structure
Amana Funds: Actively managedZoya: Stock ScreenerShariah oversight
Amana Funds: Third-Party CertifiedZoya: Named ScholarShariah board / scholar
Amana Funds: third_party_certifiedZoya: Named ScholarPublished fatwa / certificate
SameAmana Funds: NoZoya: NoScreening standard
Amana Funds: Saturna Capital Islamic screens, reviewed by Amanie AdvisorsZoya: AAOIFI by default - <=5% non-permissible revenue; interest-bearing debt and securities each under 30% of market cap; S&P/MSCI/DJ/FTSE rulebooks on Pro
Products listed
Amana Funds: Amana Equity Income ETF, Amana Growth ETF, Amana Developing World ETFZoya: Sharia Compliance Investment ScreeningBest for
Amana Funds: Not listedZoya: Canadian self-directed investors - especially Wealthsimple and Questrade users - who want scholar-guided compliance verdicts on stocks they already own; note that ETF screening covers US-listed funds only.Product types
Amana Funds: ETFZoya: Stock ScreenerTickers
Amana Funds: AMEI, AMGR, AMEMZoya: Not listedHoldings
Amana Funds: 28 (Amana Equity Income ETF) · 30 (Amana Growth ETF)Zoya: Not listedAccount types
Amana Funds: Individual, IRA, Roth IRAZoya: 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)Zoya: Not listed
HalalWallet Index grade
Amana Funds: Not listedZoya: 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)Zoya: 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%)
Zoya
- Sharia screening methodology guided by named scholars, including Sheikh Joe Bradford and Sheikh Umer Khan
- Full compliance reports expose actual ratios and revenue breakdowns - verify rather than trust
- Canadian broker integrations: Wealthsimple and Questrade portfolio sync with compliance alerts
- Pay-what-you-think-is-fair web pricing makes Pro accessible from about $9 USD/month
- A research tool only in Canada - you'll still need a separate brokerage to trade, and Zoya Direct's brokers are US-centric
- ETF and mutual fund screening covers US-listed funds only - no TSX-listed fund verdicts
- Pro subscription required for ratio-level reports, alternative rulebooks, and multiple linked accounts
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
Zoya (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.Zoya
Pays HalalWallet: No. Zoya 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 Zoya compare for investing?
Amana Funds and Zoya 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; Zoya uses Stock Screener.
- Shariah oversight: Amana Funds discloses Third-Party Certified; Zoya 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-zoya, 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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