Wealthsimple Wealthsimple Shariah World Equity Index ETF
Halal Investing in Prince Edward Island
WSHR is the only Shariah-compliant ETF listed on a Canadian exchange (Cboe Canada). It tracks the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index - roughly 160 developed-market stocks screened by Ratings Intelligence Partners, weighted by risk rather than market cap so no holding exceeds about 1%. Trading in Canadian dollars (around $35 in early Aug 2026) means no currency conversion on purchase and no US dividend withholding tax inside a TFSA, FHSA, or RESP. Management fee is 0.50%; Mackenzie Investments manages the fund.
WSHR's structural advantage is unique: as the only halal ETF listed on a Canadian exchange, it trades in CAD and escapes US dividend withholding inside a TFSA, FHSA, or RESP - a drag every USD-listed rival carries. The 0.50% management fee undercuts Canada's Shariah mutual fund alternative (Global Iman Fund, 2.79% MER) by a wide margin, and the quarterly purification table has run unbroken since 2021 (impure ratios 0.43%-1.74%, current through June 2026). The quality/low-volatility index deliberately underweights the mega-cap tech that drives US returns - US exposure is only about 48% with consumer staples the largest sector - so pair it with SPUS or MNZL for growth concentration. Best as the CAD-denominated core holding for Canadian halal investors, especially in a TFSA.
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
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Product Details
Type
ETF
Expense Ratio
0.50%
Screening Method
Dow Jones Islamic Market screens - certified by Ratings Intelligence Partners
Holdings
~160
Wealthsimple in Prince Edward Island
Wealthsimple's Wealthsimple Shariah World Equity Index ETF is available to investors in Prince Edward Island, structured as a Index-based. The fund carries an expense ratio of 0.50%. Wealthsimple serves 10 provinces, including Prince Edward Island.
Shariah Compliance & Oversight
No company-level Shariah board exists at Wealthsimple - oversight sits at the fund and index level. The ETF and its underlying index are certified by a team of Islamic researchers at Ratings Intelligence Partners, the London/Kuwait consultancy that provides Shariah screening for the Dow Jones Islamic Market indices; ultimate scholarly authority rests with the DJIM Shariah Supervisory Board documented in S&P DJI materials rather than on Wealthsimple's own pages. The compliance process is demonstrably live: quarterly dividend purification figures have been published without a break since September 2021 and were current through June 2026 at our last audit.
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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