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Investing comparison

ShariaPortfolio vs Wealthsimple

ShariaPortfolio and Wealthsimple both offer investing - ShariaPortfolio in 4 provinces, Wealthsimple in all of Canada. This page lines up 15 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 Aug 2026

At a glance

  • ShariaPortfolio lists 4 provinces; Wealthsimple lists all of Canada.
  • ShariaPortfolio uses Wealth Management; Wealthsimple uses Index-based.
  • Both disclose the same level of Shariah oversight: Third-Party Certified.
  • HalalWallet Index: ShariaPortfolio holds a B-; Wealthsimple holds a B-.
  • On measurable rows, ShariaPortfolio has the better listed value on 0 and Wealthsimple on 1.
  • They differ on 6 of the 15 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.

ShariaPortfolio vs Wealthsimple: the full side-by-side

15 data points from each provider's published materials, lined up row by row. They differ on 6.

ShariaPortfolio - halal finance provider logo

ShariaPortfolio

B-
Pays us: No. ShariaPortfolio pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Wealthsimple - halal finance provider logo

Wealthsimple

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

15 of 15 rows

Availability

  • Provinces covered

    ShariaPortfolio: 4 provinces
    Wealthsimple: All of Canada Edge
Costs

  • Expense ratio

    ShariaPortfolio: Not listed
    Wealthsimple: 0.50%
Shariah

  • Structure

    ShariaPortfolio: Wealth Management
    Wealthsimple: Index-based

  • Shariah oversight

    Same
    ShariaPortfolio: Third-Party Certified
    Wealthsimple: Third-Party Certified

  • Shariah board / scholar

    ShariaPortfolio: Third Party Certified
    Wealthsimple: Ratings Intelligence Partners

  • Published fatwa / certificate

    Same
    ShariaPortfolio: No
    Wealthsimple: No

  • Screening standard

    ShariaPortfolio: AAOIFI - under 5% impure revenue; interest-bearing debt below 30-33% of market cap; music/cinema/broadcasting excluded
    Wealthsimple: Dow Jones Islamic Market screens - certified by Ratings Intelligence Partners
Products

  • Products listed

    ShariaPortfolio: Personal Account (Non-Registered), Joint Account (Non-Registered), FHSA - First Home Savings Account, Wealth Management, TFSA - Tax-Free Savings Account, RESP - Registered Education Savings Plan
    Wealthsimple: Wealthsimple Shariah World Equity Index ETF

  • Best for

    ShariaPortfolio: Investors who have maxed their TFSA, RRSP, and FHSA room - or who want unrestricted access to their money - and still want every dollar managed under AAOIFI screening.
    Wealthsimple: The only Canadian-listed halal ETF - CAD-denominated core holding with no US withholding tax drag in a TFSA

  • Product types

    ShariaPortfolio: Not listed
    Wealthsimple: ETF

  • Tickers

    ShariaPortfolio: Not listed
    Wealthsimple: WSHR

  • Holdings

    ShariaPortfolio: Not listed
    Wealthsimple: ~160

  • Focus

    ShariaPortfolio: Not listed
    Wealthsimple: Global Developed Markets (CAD-listed)
Track record

  • HalalWallet Index grade

    Same
    ShariaPortfolio: B-
    Wealthsimple: B-

  • Assets under management

    ShariaPortfolio: Not listed
    Wealthsimple: C$480M

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

ShariaPortfolio

  • Full flexibility - no contribution limits or withdrawal restrictions
  • Portfolios screened with formal Sharia compliance opinions
  • Choice of active portfolio management or a passive halal ETF strategy
  • Custody at Fidelity Clearing Canada ULC, a CIRO-regulated custodian in the Fidelity group
  • Joint ownership and access for two or more investors
  • No tax advantages - gains and income are taxed annually
  • Third-party certification rather than an in-house formal Shariah board
  • No fees or minimums published - confirm pricing in the initial consultation
  • Non-registered, so investment income is taxable
  • Third-party certification rather than a formal in-house Shariah board

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.

ShariaPortfolio (6)

  • Personal Account (Non-Registered)Details
  • Joint Account (Non-Registered)Details
  • FHSA - First Home Savings AccountDetails
  • Wealth ManagementDetails
  • TFSA - Tax-Free Savings AccountDetails
  • RESP - Registered Education Savings PlanDetails

Wealthsimple (1)

  • Wealthsimple Shariah World Equity Index ETF · WSHR
ShariaPortfolio - halal finance provider logo

ShariaPortfolio

Pays HalalWallet: No. ShariaPortfolio pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Visit ShariaPortfolio Full review
Wealthsimple - halal finance provider logo

Wealthsimple

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

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Editorial comparisons

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How do ShariaPortfolio and Wealthsimple compare for investing?

ShariaPortfolio and Wealthsimple both offer investing - ShariaPortfolio in 4 provinces, Wealthsimple in all of Canada. This page lines up 15 listed data points side by side, with 6 differences, so you can see exactly where they part ways before you request quotes.

  • ShariaPortfolio lists 4 provinces; Wealthsimple lists all of Canada.
  • ShariaPortfolio uses Wealth Management; 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: 2026-08-05

How to cite this page

Preferred format (HTML):

According to HalalWallet (“ShariaPortfolio vs Wealthsimple”, https://www.halalwallet.ca/compare/shariaportfolio-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.

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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