Wahed Wahed FTSE USA Shariah ETF

Halal Investing in Quebec

HLAL is Wahed's flagship ETF and the second-largest halal equity fund in North America at $914M in net assets (August 2026). It passively tracks the FTSE USA Shariah Index - about 200 US stocks passing FTSE's business-activity and financial-ratio screens certified by Yasaar Limited - at a 0.50% expense ratio. Nasdaq-listed since July 2019, it distributes annually, publishes quarterly purification amounts, and sits under Wahed's three-scholar Shariah Supervisory Board. Canadians buy it in USD through any brokerage with US market access.

HLAL applies the FTSE USA Shariah methodology to about 200 US stocks and has grown into the second-largest halal ETF at $914M by August 2026. Governance is a genuine strength: fund-level fatwa from Yasaar Limited, a named three-scholar Shariah Supervisory Board including a sitting AAOIFI board member, published board reports, and quarterly purification amounts. The 0.50% fee runs above SPUS (0.45%) and MNZL (0.40%) for similar US large-cap exposure, the portfolio leans tech-heavy, and distributions are only annual - thin for income seekers. Canadians face USD conversion and TFSA withholding drag. Best for investors who want US halal equity from one of the most recognized brands in Islamic finance with heavyweight scholarly oversight.