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Investing comparison

Manzil vs SPFunds

Manzil and SPFunds both offer investing. This page lines up 16 listed data points side by side, with 13 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.
  • Manzil uses Wealth Management; SPFunds uses Index-based.
  • Shariah oversight: Manzil discloses Formal Board; SPFunds discloses Third-Party Certified.
  • HalalWallet Index: Manzil holds a A-; SPFunds holds a B-.
  • On measurable rows, Manzil has the better listed value on 1 and SPFunds on 0.
  • They differ on 13 of the 16 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.

Manzil vs SPFunds: the full side-by-side

16 data points from each provider's published materials, lined up row by row. They differ on 13.

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.
SPFunds - halal finance provider logo

SPFunds

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

16 of 16 rows

Availability

  • Provinces covered

    Same
    Manzil: All of Canada
    SPFunds: All of Canada
Costs

  • Expense ratio

    Manzil: 0.40%
    SPFunds: 0.55% (SP Funds S&P World ETF) · 0.45% (SP Funds S&P 500 Shariah I…) · 0.50% (SP Funds S&P Global REIT S…)
Shariah

  • Structure

    Manzil: Wealth Management
    SPFunds: Index-based

  • Shariah oversight

    Manzil: Formal Board
    SPFunds: Third-Party Certified

  • Shariah board / scholar

    Manzil: Formal Board
    SPFunds: third_party_certified

  • Published fatwa / certificate

    Same
    Manzil: No
    SPFunds: No

  • Screening standard

    Manzil: Russell IdealRatings Manzil Halal USA Broad Market Index
    SPFunds: AAOIFI - S&P Shariah screens on developed ex-US and emerging markets (SP Funds S&P World ETF) · AAOIFI - S&P Shariah screens (under 5% impure revenue; debt below ~30% of market cap) (SP Funds S&P 500 Shariah I…) · AAOIFI - S&P Shariah REIT screens on rental income sources and leverage (SP Funds S&P Global REIT S…) · Sukuk-only universe - Dow Jones Sukuk Total Return Index eligibility rules (SP Funds Dow Jones Global…) · AAOIFI - S&P Shariah screens on the global 1200 IT universe (SP Funds S&P Global Techno…)
Products

  • Products listed

    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
    SPFunds: SP Funds S&P World ETF, SP Funds S&P 500 Shariah Industry Exclusions ETF, SP Funds S&P Global REIT Shariah ETF, SP Funds Dow Jones Global Sukuk ETF, SP Funds S&P Global Technology ETF

  • Best for

    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.
    SPFunds: Broadest global halal equity exposure

  • Product types

    Manzil: Investment Platform, ETF
    SPFunds: ETF

  • Tickers

    Manzil: MNZL
    SPFunds: SPWO, SPUS, SPRE, SPSK, SPTE

  • Holdings

    Manzil: ~480
    SPFunds: ~400 (SP Funds S&P World ETF) · ~200 (SP Funds S&P 500 Shariah I…) · ~22 (SP Funds S&P Global REIT S…) · ~170 (SP Funds Dow Jones Global…) · ~100 (SP Funds S&P Global Techno…)

  • Focus

    Manzil: Managed Halal Portfolios (Wealth Management) · US Large & Mid Cap (Manzil Russell Halal USA B…)
    SPFunds: Global Large Blend (SP Funds S&P World ETF) · US Large Growth (SP Funds S&P 500 Shariah I…) · Global Real Estate (SP Funds S&P Global REIT S…) · Global Bond (Sukuk) (SP Funds Dow Jones Global…) · Global Technology (SP Funds S&P Global Techno…)
Track record

  • HalalWallet Index grade

    Manzil: A- Edge
    SPFunds: B-

  • Awards

    Manzil: Not listed
    SPFunds: Morningstar Silver Medalist Rating (rated Aug 31, 2026; published Sep 29, 2026), U.S. News #3 Best Global Bond ETF (ranked Oct 2026; 3rd of 9 evaluated)

  • Assets under management

    Manzil: $39.96M (2026-11-13)
    SPFunds: $244M (2026-11-13) (SP Funds S&P World ETF) · $3.37B (2026-11-13) (SP Funds S&P 500 Shariah I…) · $203M (2026-11-13) (SP Funds S&P Global REIT S…) · $491M (2026-11-13) (SP Funds Dow Jones Global…) · $243M (2026-11-13) (SP Funds S&P Global Techno…)

Edge marks the side with the better listed number on measurable rows (lower fee, wider coverage, higher grade). It is not a verdict - a provider can win more rows and still be the wrong fit for you.

Strengths and trade-offs

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

SPFunds

  • Broadest diversification in the family (~500 index constituents)
  • True ex-US global exposure - developed and emerging markets 50/50
  • Completes a halal three-fund portfolio alongside SPUS and SPSK
  • Quarterly purification factors published (Q2 2026: 1.41% of dividends)
  • Monthly distributions
  • Newer fund
  • Smaller AUM
  • Overlap with SPUS for US holdings
  • USD-listed - currency conversion applies, and dividends lose 15% US withholding tax in a TFSA/FHSA/RESP (exempt in an RRSP)
  • US-focused only

Products behind the numbers

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

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

SPFunds (5)

  • SP Funds S&P World ETF · SPWODetails
  • SP Funds S&P 500 Shariah Industry Exclusions ETF · SPUSDetails
  • SP Funds S&P Global REIT Shariah ETF · SPREDetails
  • SP Funds Dow Jones Global Sukuk ETF · SPSKDetails
  • SP Funds S&P Global Technology ETF · SPTEDetails
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
SPFunds - halal finance provider logo

SPFunds

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

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How do Manzil and SPFunds compare for investing?

Manzil and SPFunds both offer investing. This page lines up 16 listed data points side by side, with 13 differences, so you can see exactly where they part ways before you request quotes.

  • Both are available in all of Canada.
  • Manzil uses Wealth Management; SPFunds uses Index-based.
  • Shariah oversight: Manzil discloses Formal Board; SPFunds discloses 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):

According to HalalWallet (“Manzil vs SPFunds”, https://www.halalwallet.ca/compare/manzil-vs-spfunds, 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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