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Compare halal ETFs available to Canadian investors side by side - WSHR, SPUS, HLAL, MNZL, UMMA, SPWO, SPSK, SPRE, and SPTE. Expense ratios, Shariah certifiers, AUM, and the TFSA/RRSP withholding-tax treatment for each listing. Published by HalalWallet (halalwallet.ca).

9 Best Halal ETFs in Canada for 2026

Every Shariah-compliant ETF available to Canadian investors - one Canadian-listed, the rest US-listed - with fees, certifiers, and the TFSA/RRSP math

9 ETFs Compared✓ Updated Jul 2026✓ Fees from 0.40%–0.65%✓ Certifier record for every fund

Canadian investors can choose from 9 halal ETFs. WSHR (Wealthsimple Shariah World Equity Index ETF) is the only one listed on a Canadian exchange - CAD-traded on Cboe Canada. The other 8 are US-listed: SPUS, HLAL, and MNZL for US equity, UMMA and SPWO for global equity, SPSK for sukuk fixed income, SPRE for real estate, and SPTE for technology. Expense ratios range from 0.40% to 0.65%.

  • WSHR is the only halal ETF listed in Canada - CAD-traded on Cboe Canada since May 2021, ~160 global holdings, certified by Ratings Intelligence Partners
  • 8 US-listed halal ETFs are buyable from any Canadian brokerage with US market access
  • MNZL has the lowest fee (0.40%); SPUS is the largest at US$2.1B AUM
  • Account placement matters: US-listed ETF distributions lose 15% to US withholding tax in a TFSA, FHSA, or RESP, but are treaty-exempt in an RRSP
  • Every fund is certified by a named Shariah body - Ratings Intelligence Partners for WSHR and the SP Funds lineup, Wahed's board for HLAL, the Shariyah Review Bureau for UMMA, Russell's IdealRatings screens for MNZL
  • Conventional index funds (VOO, SPY, QQQ) and GICs do not pass - see the dated verdict records below

Source: HalalWallet (halalwallet.ca)

The Canadian-listed core

WSHR

Wealthsimple Shariah World Equity Index ETF · Cboe Canada · CAD

The only halal ETF on a Canadian exchange: ~160 developed-market stocks screened by Ratings Intelligence Partners, weighted by risk rather than market cap. Trades in CAD (no currency conversion) and its distributions carry no US-listed withholding mechanics - the natural first holding in a TFSA or FHSA.

Is WSHR halal? See the dated verdict record →

The lowest-fee US equity option

MNZL

Manzil Russell Halal USA Broad Market ETF · US-listed · USD

The lowest fee of any halal ETF (0.40%) with the most holdings (~461, Russell 1000 large + mid cap) - and it comes from Manzil, the Canadian halal-finance provider. US-listed, so it is best placed in an RRSP where the Canada–US treaty exempts its distributions from withholding tax.

MNZL vs HLAL - full comparison →

Halal ETF Quick Comparison

Sorted by lowest expense ratio - the fee you pay every year you hold the fund.

Data sourced from fund provider websites. Always verify with the fund provider before investing. Past performance does not guarantee future results.

ETFListingFeeAUMHoldingsFocusAction
MNZLLowest fee
Manzil Russell Halal USA Broad Market ETF
US exchange · USD0.40%$25M~480US Large & Mid CapVisit Fund →
SPUS
SP Funds S&P 500 Shariah Industry Exclusions ETF
US exchange · USD0.45%$2.9B~210US Large GrowthVisit Fund →
WSHRCanadian-listed
Wealthsimple Shariah World Equity Index ETF
Cboe Canada · CAD0.50%C$480M~160Global Developed Markets (CAD-listed)Visit Fund →
HLAL
Wahed FTSE USA Shariah ETF
US exchange · USD0.50%$914M~200US Large GrowthVisit Fund →
SPSK
SP Funds Dow Jones Global Sukuk ETF
US exchange · USD0.50%$0.6B~170Global Bond (Sukuk)Visit Fund →
SPRE
SP Funds S&P Global REIT Shariah ETF
US exchange · USD0.50%$0.2B~30Global Real EstateVisit Fund →
SPWO
SP Funds S&P World ETF
US exchange · USD0.55%$0.2B~400Global Large BlendVisit Fund →
SPTE
SP Funds S&P Global Technology ETF
US exchange · USD0.55%$0.2B~100Global TechnologyVisit Fund →
UMMA
Wahed Dow Jones Islamic World ETF
US exchange · USD0.65%$285M~100Global Large GrowthVisit Fund →

Who Certifies Each Fund - the Record

Every fund on this page calls itself Shariah-compliant. That claim doesn't come from us - it comes from a named screening body or Shariah supervisory board, and each one publishes its position. We record those positions in our verdict corpus with dates and links to the primary documents, so you can see exactly who stands behind each fund before you buy it. HalalWallet is not a Shariah authority - the table below is what each fund's own certifier says, reproduced from the source.

FundCertified / screened byTheir published positionVerdict record
MNZLMNZL independent Shariah Supervisory BoardThe index applies AAOIFI-based Shariah screens via Russell's IdealRatings system, and an independent Shariah Supervisory Board oversees the fund with a purification process for residual income.Halal· Jul 2026
SPUSSP Funds Shariah Supervisory BoardReviews and approves the S&P Dow Jones Shariah screening methodology, audits the portfolio, and certifies SPUS as Shariah-compliant, with a published purification ratio for residual income.Halal· Jun 2026
WSHRRatings Intelligence PartnersCertifies WSHR and its underlying index as Shariah-compliant and conducts the fund's periodic Shariah audit (most recent published audit dated December 31, 2025), with dividend purification information published quarterly.Halal· Jul 2026
HLALWahed Shariah Supervisory BoardOversees the FTSE USA Shariah Index methodology, audits HLAL's holdings, and certifies the fund Shariah-compliant, with purification guidance for residual income.Halal· Jun 2026
SPSKSP Funds / Dow Jones Sukuk Index (AAOIFI-aligned)SPSK tracks Shariah-compliant, investment-grade sukuk under the Dow Jones Sukuk Index; because the underlying instruments are structured per Islamic finance principles, no dividend purification is required.Halal· Jul 2026
SPRES&P Dow Jones Shariah / Ratings Intelligence + Shariah Supervisory BoardThe S&P Global All Equity REIT Shariah Capped Index is screened by Ratings Intelligence Partners working with a Shariah Supervisory Board, which interprets the rules and certifies the methodology; a purification ratio is provided for residual income.Halal· Jul 2026
SPWOS&P Dow Jones Shariah / Ratings Intelligence + Shariah Supervisory BoardSPWO's underlying index is screened by Ratings Intelligence Partners with a Shariah Supervisory Board, applying sector and AAOIFI-style financial screens and providing a purification ratio for residual income.Halal· Jul 2026
SPTES&P Dow Jones Shariah / Ratings Intelligence + Shariah Supervisory BoardSPTE's underlying index is screened by Ratings Intelligence Partners with a Shariah Supervisory Board, applying sector and AAOIFI-style financial screens and providing a purification ratio for residual income.Halal· Jul 2026
UMMAShariyah Review Bureau (UMMA's Shariah Supervisory Board)The SSB certified the Wahed Dow Jones Islamic World ETF (UMMA) as compliant in light of AAOIFI Shariah standards, and leads ongoing supervision and Shariah audit — with financial screens of 30% debt/assets, 30% cash+interest-bearing securities/assets, and 5% non-permissible income.Halal· Jul 2026

The rulebooks are not identical

One thing the fund marketing pages gloss over: these certifiers don't work from a single shared rulebook. WSHR and the SP Funds ETFs both run on S&P Dow Jones methodologies screened by Ratings Intelligence Partners - but WSHR uses the Dow Jones Islamic Market screens with a quality/low-volatility overlay, while SPUS screens the S&P 500 directly. HLAL follows the FTSE USA Shariah Index under Wahed's board. UMMA is certified to AAOIFI standards by the Shariyah Review Bureau - 30% debt-to-assets, 30% cash plus interest-bearing securities, 5% non-permissible income. MNZL applies Russell's IdealRatings AAOIFI-based screens.

The sector exclusions look similar across all of them; the financial-ratio math is not. That's why a stock can sit inside one halal ETF and be missing from another that sounds identical. We track this divergence across the whole corpus - see why halal stock screeners disagree or the disagreement index.

One practical consequence of screened-but-not-perfect portfolios: every equity fund above publishes a purification ratio - the small share of dividends you donate to cleanse residual non-compliant income. Wealthsimple publishes WSHR's with each quarterly distribution. If you hold any of these funds (or individual stocks), our free dividend purification calculator works out the donation amount per holding.

And the funds that don't pass

The most common question isn't about these nine funds - it's whether you can just keep buying VOO, QQQ, or an all-in-one index fund. Here is the mainstream position on the big conventional index funds, from the same corpus:

VOONot Halal

A conventional, unscreened S&P 500 index fund is not permissible to hold, because it includes companies in impermissible sectors (conventional banking, insurance, alcohol, gambling) and companies breaching the debt/interest ratio limits, and the fund itself earns interest.

The screened route: For Shariah-compliant S&P 500-style exposure, use the screened version of the index — tracked by SPUS — or a broader Shariah-screened U.S. fund such as HLAL, which remove the non-compliant companies and handle purification.

Full record →
SPYNot Halal

A conventional, unscreened S&P 500 fund such as SPY is not permissible — it includes impermissible sectors (conventional banking, insurance) and over-leveraged companies and earns interest.

The screened route: SPUS tracks a Shariah-screened S&P 500; HLAL offers broader screened U.S. exposure. Both remove the non-compliant companies and handle purification.

Full record →
QQQNot Halal

An unscreened Nasdaq-100 fund is not permissible to hold: even with financials excluded by index rules, it contains companies that breach the debt/interest ratio limits or have impermissible revenue, and the fund earns interest.

The screened route: HLAL (Wahed FTSE USA Shariah ETF) is heavily technology-weighted and Shariah-screened, making it a closer halal substitute for a growth/tech tilt; SPUS is the screened S&P 500 option.

Full record →

Canadians also ask about GICs - a guaranteed interest rate is riba, so conventional GICs don't pass either. See the dated GIC verdict and consider SPSK (sukuk) for the low-risk sleeve instead.

TFSA or RRSP? Where to Hold Each Halal ETF

For Canadians, the listing decides the tax mechanics. The same halal ETF can lose 15% of its distributions in one account and nothing in another - here is the map.

AccountUS-listed halal ETFs (SPUS, HLAL, MNZL, UMMA, SP Funds)WSHR (Canadian-listed)
TFSA / FHSA / RESPDistributions are subject to 15% US withholding tax, and it cannot be recovered - the treaty exemption does not extend to these accounts.No US withholding on the fund's own distributions. (Foreign withholding on the underlying international dividends applies inside the fund regardless of your account.)
RRSP / RRIFExempt from US withholding tax under the Canada–US tax treaty - the most tax-efficient home for US-listed halal ETFs.Same as the TFSA case - the fund-level foreign withholding is the only drag, and it applies in every account type.
Non-registered15% is withheld, but you can generally claim it back through the foreign tax credit on your Canadian return.Foreign tax paid inside the fund is reported on your T3 and may be creditable.

The practical rule of thumb: WSHR fits naturally in a TFSA, FHSA, or RESP - CAD-traded, no conversion spread, no US-listed withholding mechanics - while US-listed halal ETFs are most efficient in an RRSP, where the treaty exemption applies. Buying US-listed funds also means converting CAD to USD, which typically costs 1.5–2% at most brokerages unless you use a conversion technique like Norbert's gambit.

This is general information, not tax advice - withholding treatment is set by the Canada–US tax convention and your personal situation. Confirm with a tax professional before positioning a large portfolio.

Canadian-Listed

Trades in CAD on Cboe Canada - no currency conversion, no US-listed withholding mechanics

WSHR

Wealthsimple Shariah World Equity Index ETF

Is WSHR halal? See the dated verdict record →
Fee
0.50%
AUM
C$480M
Holdings
~160
Focus
Global Developed Markets (CAD-listed)

Pros

  • 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

Cons

  • 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

US Equity

Track US Shariah-compliant stocks (US-listed, USD)

MNZL

Manzil Russell Halal USA Broad Market ETF

Is MNZL halal? See the dated verdict record →
Fee
0.40%
AUM
$25M
Holdings
~480
Focus
US Large & Mid Cap

Pros

  • Lowest expense ratio of any halal ETF (0.40%)
  • Broadest US coverage - roughly 480 holdings from the Russell 1000 universe
  • Russell IdealRatings index methodology with published Shariah certificate
  • AFSC human-rights overlay on top of AAOIFI screening
  • Named Shariah Supervisory Board (Dr. Shaher Abbas, Dr. M. Gadhoum, Mufti Faraz Adam)

Cons

  • Newest and smallest by AUM
  • Less brand recognition
  • Limited track record
  • MNZL trades in US dollars, so currency conversion applies - and its dividends lose 15% to US withholding tax in a TFSA, FHSA, or RESP (RRSPs are exempt)

SPUS

SP Funds S&P 500 Shariah Industry Exclusions ETF

Is SPUS halal? See the dated verdict record →
Fee
0.45%
AUM
$2.9B
Holdings
~210
Focus
US Large Growth

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)
Fee
0.50%
AUM
$914M
Holdings
~200
Focus
US Large Growth

Pros

  • Second-largest halal ETF ($914M, Aug 2026)
  • Strong brand recognition in Islamic fintech
  • FTSE USA Shariah methodology with its own fatwa from Yasaar Limited
  • Named three-scholar Shariah Supervisory Board plus published board reports
  • Quarterly purification amounts published

Cons

  • US-focused only
  • Higher fee than SPUS/MNZL
  • Tech-heavy
  • HLAL is a US-listed fund: Canadian buyers face currency conversion, and dividends are docked 15% US withholding tax in a TFSA/FHSA/RESP (an RRSP is exempt)

Global Equity

International and world market exposure (US-listed, USD)

Fee
0.55%
AUM
$0.2B
Holdings
~400
Focus
Global Large Blend

Pros

  • 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 (Q1 2026: 1.55% of dividends)
  • Monthly distributions

Cons

  • 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)

UMMA

Wahed Dow Jones Islamic World ETF

Is UMMA halal? See the dated verdict record →
Fee
0.65%
AUM
$285M
Holdings
~100
Focus
Global Large Growth

Pros

  • 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)

Cons

  • 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

Sector & Specialty

Sukuk fixed income, real estate, and technology (US-listed, USD)

SPSK

SP Funds Dow Jones Global Sukuk ETF

Is SPSK halal? See the dated verdict record →
Fee
0.50%
AUM
$0.6B
Holdings
~170
Focus
Global Bond (Sukuk)

Pros

  • Only US-listed sukuk ETF - a rare halal fixed-income sleeve
  • Fixed-income diversification with low correlation to equities
  • Monthly distributions with a 4.59% 30-day SEC yield (Jul 31, 2026)
  • No purification required per SP Funds' published policy
  • Investment-grade global sukuk exposure in one ticker

Cons

  • Bond-like returns (lower growth)
  • Currency risk on global sukuks
  • Smaller AUM than equity ETFs
  • USD-listed - currency conversion applies, and dividends lose 15% US withholding tax in a TFSA/FHSA/RESP (exempt in an RRSP)

SPRE

SP Funds S&P Global REIT Shariah ETF

Is SPRE halal? See the dated verdict record →
Fee
0.50%
AUM
$0.2B
Holdings
~30
Focus
Global Real Estate

Pros

  • Real estate income exposure without direct ownership
  • Shariah-screened REITs - highly-levered trusts excluded structurally
  • Global diversification across property markets
  • Lowest purification factors in the SP Funds family (Q1 2026: 0.52%)
  • Monthly distributions

Cons

  • Concentrated portfolio (~30 holdings)
  • Real estate sector risk
  • Smaller AUM
  • USD-listed - currency conversion applies, and dividends lose 15% US withholding tax in a TFSA/FHSA/RESP (exempt in an RRSP)

SPTE

SP Funds S&P Global Technology ETF

Is SPTE halal? See the dated verdict record →
Fee
0.55%
AUM
$0.2B
Holdings
~100
Focus
Global Technology

Pros

  • Targeted halal tech-sector exposure broad funds only offer diluted
  • Global reach - adds non-US leaders like Taiwan Semiconductor
  • Shariah-screened under AAOIFI-aligned methodology with published certificates
  • Quarterly purification factors published with a free calculator

Cons

  • Concentrated in one sector
  • High volatility
  • Smaller AUM
  • USD-listed - currency conversion applies, and dividends lose 15% US withholding tax in a TFSA/FHSA/RESP (exempt in an RRSP)

Can't Decide Between Two Funds?

We've written full head-to-head comparisons for the matchups Canadians ask about most.

The Fee Difference Compounds

Expense ratios look tiny, but over decades they quietly compound. Amounts are illustrative - the fee math works the same in CAD.

What does a lower fee actually save you?

The same portfolio - only the expense ratio changes.

$
$
Manzil MNZL - 0.40% fee$635,995
SP Funds avg - 0.55% fee$616,628

Extra in your pocket with the lower fee

$19,368

over 30 years, purely from the 0.15% fee difference

Illustrative only. Assumes identical gross returns and reinvested distributions; actual returns vary and are not guaranteed. Fees are the only difference modeled. Not investment advice.

How to Build a Halal ETF Portfolio in Canada

Simple (1 Fund)

One CAD-traded fund for diversified global exposure.

WSHR100%

Best for: beginners, TFSA-first investors, small portfolios

Balanced (3 Funds)

Global core + US equity + sukuk fixed income.

WSHR50%
SPUS or MNZL30%
SPSK (Sukuk)20%

Best for: moderate risk, WSHR in TFSA + US funds in RRSP

Growth (4+ Funds)

Aggressive allocation with sector tilts.

SPUS or MNZL35%
WSHR or SPWO25%
SPTE (Tech)15%
SPRE (REIT)15%
SPSK (Sukuk)10%

Best for: experienced investors, larger portfolios

How to Choose the Right Halal ETF

For New Investors

Start with WSHR - one CAD-traded fund, globally diversified, no currency conversion, and it fits any registered account. If you want US equity concentration instead, MNZL (lowest fee at 0.40%, ~461 holdings) or SPUS (largest AUM) are the core options.

  • • One fund is enough to start
  • • WSHR avoids the CAD→USD conversion spread entirely
  • • Available at Questrade, Wealthsimple, and bank brokerages
  • • Consider dollar-cost averaging

For Diversified Portfolios

Add SPSK for fixed income (sukuk - the halal answer to the GIC/bond sleeve), UMMA or SPWO for international exposure, and SPRE for real estate - building a fully halal multi-asset portfolio.

  • • Mix equity, sukuk, and REIT ETFs
  • • Hold US-listed funds in your RRSP for treaty-exempt distributions
  • • SPSK provides bond-like stability without riba
  • • SPTE for tech sector conviction

Frequently Asked Questions

Are there halal ETFs in Canada?

Yes - Canadian investors can choose from 9 halal ETFs. WSHR (Wealthsimple Shariah World Equity Index ETF) is the only one listed on a Canadian exchange: it trades in CAD on Cboe Canada (formerly NEO Exchange) and has been available since May 2021. The other 8 - SPUS, HLAL, MNZL, UMMA, SPWO, SPSK, SPRE, and SPTE - are US-listed and can be bought through any Canadian brokerage with US market access, such as Questrade, Wealthsimple, or a bank-owned brokerage.

Is WSHR halal?

Yes. WSHR tracks the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index, which screens out companies earning more than 5% of revenue from alcohol, tobacco, pork, weapons, conventional financial services, and adult entertainment, plus companies with excessive leverage. The fund and index are certified by Ratings Intelligence Partners, a Shariah audit is published, and dividend purification ratios are disclosed quarterly. See our dated verdict record for the full analysis.

Can I hold halal ETFs in a TFSA, RRSP, or FHSA?

Yes - all 9 halal ETFs can be held in a TFSA, RRSP, FHSA, RESP, or non-registered account at a Canadian brokerage. The account you choose changes the tax outcome, though: distributions from US-listed ETFs (SPUS, HLAL, MNZL, UMMA, and the SP Funds lineup) are subject to 15% US withholding tax in a TFSA, FHSA, or RESP, which cannot be recovered. In an RRSP or RRIF, US-listed ETFs are exempt from that withholding under the Canada–US tax treaty. WSHR, as a Canadian-listed fund, has no US withholding applied to its own distributions in any account.

What is the difference between WSHR and US-listed halal ETFs like SPUS or HLAL?

All are genuinely Shariah-compliant; the differences are listing, portfolio construction, and tax mechanics. WSHR trades in CAD, holds about 160 developed-market stocks worldwide, and weights them by risk with a quality/low-volatility screen - so it is globally diversified, defensive, and much less tech-concentrated. SPUS and HLAL are USD-traded, market-cap-weighted US equity funds with heavy technology exposure, so they behave more like a screened S&P 500. Many Canadian investors hold WSHR as the global core and add a US-listed halal ETF for US growth exposure.

Which halal ETF has the lowest fee in Canada?

MNZL (Manzil Russell Halal USA Broad Market ETF) has the lowest expense ratio at 0.40%, followed by SPUS at 0.45%. WSHR and HLAL both charge 0.50% (WSHR's all-in MER is roughly 0.64%), the SP Funds specialty ETFs charge 0.55%, and UMMA is the highest at 0.65%. All are dramatically cheaper than legacy Canadian Islamic mutual funds, which have charged 2% or more.

Are GICs a halal alternative to ETFs?

No. A GIC (Guaranteed Investment Certificate) pays a guaranteed interest rate on a loan to the bank, which is riba - the mainstream scholarly position is that conventional GICs are not halal. For lower-risk halal exposure, SPSK (a global sukuk ETF) is the closest Shariah-compliant analog to a bond or GIC allocation. See our dated GIC verdict for the full ruling and the exceptions.

What is a sukuk ETF and why would a Canadian investor want one?

SPSK (SP Funds Dow Jones Global Sukuk ETF) holds sukuk - Islamic certificates backed by tangible assets that pay profit rather than interest. It plays the role bonds or GICs play in a conventional portfolio: dampening volatility and providing income, without riba. It is US-listed, so the withholding-tax considerations for US-listed funds apply.

How do I buy US-listed halal ETFs from Canada?

Any Canadian brokerage with US market access works: Questrade, Wealthsimple, Interactive Brokers, or a bank-owned brokerage like RBC Direct Investing or TD Direct Investing. You will need to convert CAD to USD to buy (brokerages typically charge a 1.5–2% conversion spread unless you use a technique like Norbert's gambit), and US-listed holdings are best placed in an RRSP to avoid unrecoverable withholding tax on distributions.

Can I build a complete halal portfolio using only ETFs in Canada?

Yes. WSHR alone gives you a diversified global developed-markets core in one CAD-traded fund. To go further: add SPUS, HLAL, or MNZL for concentrated US equity exposure, UMMA or SPWO for broader international reach, SPSK for sukuk fixed income, and SPRE for real estate. That covers every major asset class without any interest-based instruments.

Do halal ETFs pay dividends, and do I need to purify them?

Yes on both counts. Screened companies still earn small amounts of incidental interest, so halal ETFs publish purification ratios - the share of each distribution to donate to charity. Wealthsimple publishes WSHR's impure ratio with every quarterly distribution (historically about 0.4% to 1.7% of the dividend), and Wahed, SP Funds, and Manzil publish equivalents for their funds. Our purification calculator automates the math.

Are conventional index funds like VOO or XEQT halal?

No. Broad conventional index funds hold banks, insurers, alcohol, gambling, and highly leveraged companies, and earn interest on cash holdings - the mainstream position is that they are not halal. That applies equally to popular Canadian all-in-one funds. The Shariah-screened ETFs on this page are the compliant equivalent, covering the same asset classes with screened holdings and published purification ratios.

Ready to Start Halal Investing?

For a CAD-traded, globally diversified core, start with WSHR - the only halal ETF listed on a Canadian exchange.

Protect what you're building

A halal portfolio still passes through provincial intestacy law - not Faraid - if you die without the right documents. Put an Islamic estate plan behind your investments.

Reviewed by: HalalWallet Editorial TeamLast reviewed: 2026-08-10Disclosure: Featured partners may compensate HalalWallet for clicks. Editorial policy and full disclosures.

Reviewed monthly and updated when ETF holdings, fee disclosures, or screening references change.

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According to HalalWallet (“9 Best Halal ETFs in Canada 2026: Complete Shariah-Compliant ETF Comparison”, https://www.halalwallet.ca/investing/halal-etfs, retrieved 2026-08-11).

For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.