SPFunds SP Funds S&P Global REIT Shariah ETF
Halal Investing in Ontario
SPRE gives halal investors real estate exposure without owning property: it tracks the S&P Global All Equity REIT Shariah Capped Index, about 30 REITs worldwide screened so rental income sources and leverage ratios meet Shariah requirements. Net assets were $221M in August 2026 with a 0.50% expense ratio and monthly distributions, and it consistently carries the lowest purification factors in the SP Funds family (Q1 2026: 0.52% of dividends) because rental income dominates. NYSE-listed in USD.
SPRE delivers Shariah-screened global real estate exposure without the burden of owning property directly, at a 0.50% expense ratio with monthly distributions and $221M in net assets as of August 2026. Because returns flow from rental income on real property rather than interest, it carries the lowest purification burden in the SP Funds lineup - just 0.52% of dividends in Q1 2026. With only about 30 holdings it is a concentrated single-sector fund exposed to property cycles and rate sensitivity, and the USD listing adds conversion costs and 15% withholding drag for Canadians in a TFSA, FHSA, or RESP. Best as a small real-estate satellite position alongside a diversified halal core like SPUS or WSHR.
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)
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Product Details
Type
ETF
Expense Ratio
0.50%
Screening Method
AAOIFI - S&P Shariah REIT screens on rental income sources and leverage
Holdings
~30
SPFunds in Ontario
SPFunds's SP Funds S&P Global REIT Shariah ETF is available to investors in Ontario, structured as a Index-based. The fund carries an expense ratio of 0.50%. SPFunds serves 10 provinces, including Ontario.
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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