Wahed vs Zoya
Wahed and Zoya both offer investing. This page lines up 15 listed data points side by side, with 7 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.
- Wahed uses Actively managed / Index-based; Zoya uses Stock Screener.
- Shariah oversight: Wahed discloses Third-Party Certified; Zoya discloses Named Scholar.
- HalalWallet Index: Wahed holds a B-; Zoya holds a B-.
- They differ on 7 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.
Wahed vs Zoya: the full side-by-side
15 data points from each provider's published materials, lined up row by row. They differ on 7.
Wahed
Pays us: No. Wahed pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Zoya
Pays us: No. Zoya pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.15 of 15 rows
Provinces covered
SameWahed: All of CanadaZoya: All of Canada
Expense ratio
Wahed: 0.65% (Wahed Dow Jones Islamic Wo…) · 0.50% (Wahed FTSE USA Shariah ETF)Zoya: Not listed
Structure
Wahed: Actively managed / Index-basedZoya: Stock ScreenerShariah oversight
Wahed: Third-Party CertifiedZoya: Named ScholarShariah board / scholar
Wahed: third_party_certifiedZoya: Named ScholarPublished fatwa / certificate
SameWahed: NoZoya: NoScreening standard
Wahed: Dow Jones Islamic Market screens; Shariyah Review Bureau as external advisor (Wahed Dow Jones Islamic Wo…) · FTSE Shariah screens certified by Yasaar Limited (Wahed FTSE USA Shariah ETF)Zoya: 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
Wahed: Wahed Dow Jones Islamic World ETF, Wahed FTSE USA Shariah ETFZoya: Sharia Compliance Investment ScreeningBest for
Wahed: International (non-US) halal equity exposureZoya: 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
Wahed: ETFZoya: Stock ScreenerTickers
Wahed: UMMA, HLALZoya: Not listedHoldings
Wahed: ~100 (Wahed Dow Jones Islamic Wo…) · ~200 (Wahed FTSE USA Shariah ETF)Zoya: Not listedFocus
Wahed: Global Large Growth (Wahed Dow Jones Islamic Wo…) · US Large Growth (Wahed FTSE USA Shariah ETF)Zoya: Not listed
HalalWallet Index grade
SameWahed: B-Zoya: B-Assets under management
Wahed: $298M (2026-11-13) (Wahed Dow Jones Islamic Wo…) · $946M (2026-11-13) (Wahed FTSE USA Shariah ETF)Zoya: Not listed
Strengths and trade-offs
Wahed
- International (non-US) halal exposure in a single ticker
- Dow Jones Islamic Market methodology with ongoing board review
- Complements US-focused ETFs like HLAL and SPUS
- Quarterly purification amounts published
- Formally incorporates ESG data (company claim: first US-listed Islamic ETF to do so)
- Higher expense ratio (0.65%)
- Currency exposure
- Smaller AUM
- Because UMMA trades on a US exchange, currency conversion applies and dividends are reduced 15% by US withholding tax in a TFSA, FHSA, or RESP - RRSP holdings are exempt
- US-focused only
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.
Wahed
Pays HalalWallet: No. Wahed 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 optionsEditorial comparisons
How do Wahed and Zoya compare for investing?
Wahed and Zoya both offer investing. This page lines up 15 listed data points side by side, with 7 differences, so you can see exactly where they part ways before you request quotes.
- Both are available in all of Canada.
- Wahed uses Actively managed / Index-based; Zoya uses Stock Screener.
- Shariah oversight: Wahed 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/wahed-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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What we do
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What we do not do
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Where our role ends and who takes over · Who pays HalalWallet · HalalWallet Trust Standard, version 1.0
Before you decide, finish with three checks:
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- Read the contract structure (Murabaha, Ijara, Musharakah and so on) and any published Shariah board opinion.
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