Wealthsimple Wealthsimple Shariah World Equity Index ETF

Wealthsimple's contribution to Canadian halal investing is structural: the Wealthsimple Shariah World Equity Index ETF (WSHR) is the only Shariah-compliant ETF listed on a Canadian exchange. Because it trades in CAD on Cboe Canada, Canadians avoid currency conversion costs - and, more importantly, distributions held inside a TFSA, FHSA or RESP escape the 15% US withholding tax that erodes every US-listed halal ETF in those accounts.

WSHR tracks the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index - roughly 160 developed-market stocks (about 48% US) screened for Shariah compliance and tilted toward quality and low volatility. Certification comes from Ratings Intelligence Partners, and quarterly purification data is published so investors can cleanse incidental non-compliant income. The company also offers halal managed portfolios, which wrap WSHR-style exposure in an auto-rebalanced account.

Two caveats define the honest picture. First, Wealthsimple itself discloses no company-level Shariah advisory board - the religious oversight is at the fund/index level via Ratings Intelligence, not the institution. Second, the low-volatility methodology deliberately underweights the concentrated mega-cap tech exposure that has driven US index returns; investors who want that factor typically pair WSHR with a USD-listed fund like SPUS or Manzil's MNZL, accepting the withholding-tax trade-off in registered accounts.