SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF
Halal Investing in Alberta
SPUS is the largest halal ETF in North America: $2.9B in net assets tracking the S&P 500 Shariah Industry Exclusions Index, roughly 210 US large caps that pass S&P's Shariah business-activity and financial-ratio screens with extra industry exclusions. The 0.45% expense ratio is the cheapest in the SP Funds family, distributions are paid monthly, and the fund lists on the NYSE in US dollars - Canadians buy it through any brokerage with US market access and absorb currency conversion plus withholding-tax considerations in registered accounts.
SPUS is the heavyweight of halal ETFs - $2.9B in assets and a 0.45% expense ratio, tracking the S&P 500 Shariah Industry Exclusions Index across roughly 210 US large caps. Screening follows AAOIFI rules (under 5% impure revenue, debt below about 30% of market cap), and SP Funds backs it with a published Sharia accreditation certificate, auditor report, and quarterly purification factors (Q1 2026: 1.81% of dividends). It is US-only and tech-heavy, so it pairs best with international exposure like SPWO or UMMA, and Canadians should weigh the USD listing's currency conversion and the 15% dividend withholding drag inside a TFSA, FHSA, or RESP (an RRSP is exempt). Best as the core US holding for passive halal index investors.
Pros
- Largest halal ETF by AUM ($2.9B)
- Low 0.45% expense ratio - cheapest in the SP Funds family
- Tracks the S&P 500 Shariah Industry Exclusions Index - familiar S&P 500 base universe
- Quarterly purification factors published with a free calculator
- Monthly distributions
Cons
- US-focused only
- Tech-heavy exposure
- No international diversification
- USD-listed - currency conversion applies, and dividends lose 15% US withholding tax in a TFSA/FHSA/RESP (exempt in an RRSP)
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Product Details
Type
ETF
Expense Ratio
0.45%
Screening Method
AAOIFI - S&P Shariah screens (under 5% impure revenue; debt below ~30% of market cap)
Holdings
~210
SPFunds in Alberta
SPFunds's SP Funds S&P 500 Shariah Industry Exclusions ETF is available to investors in Alberta, structured as a Index-based. The fund carries an expense ratio of 0.45%. SPFunds serves 10 provinces, including Alberta.
Shariah Compliance & Oversight
Every SP Funds ETF publishes a Certificate of Sharia Accreditation and a Sharia Auditor Report alongside its SEC documents, refreshed with the standard filings. Screening follows AAOIFI rules: less than 5% of revenue from prohibited sources and interest-bearing debt capped at 30–33% of market capitalization on a trailing 12-month basis, with non-compliant holdings removed at quarterly rebalancing. At the manager level, oversight runs through Shaykh Umer Khan, ShariaPortfolio's Sharia Advisor since October 2022 - a mufti (ifta' from Darulifta Birmingham) with a Wharton Master's in Finance. Quarterly purification factors are published per fund with a free calculator; SPSK is exempt because, in SP Funds' words, sukuk are Sharia-compliant by definition. What is not published: the identity of the scholars issuing the fund certificates, and no standing multi-member Shariah supervisory board is named - a lighter formal structure than fund families that maintain independent scholar boards.
2026-08-05
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Halal Investment Growth Estimate
See how your halal investments could grow over time
Total Value
$343,778
Contributed
$130,000
Growth
$213,778
Hypothetical projection. Past performance does not guarantee future results.
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How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
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