Manzil Manzil Russell Halal USA Broad Market ETF
Halal Investing in Saskatchewan
Broad exposure to US halal equities using the Russell Halal USA index methodology
Pros
- Lowest expense ratio of any halal ETF (0.40%)
- Most holdings (~450)
- Russell index methodology
Cons
- Newest and smallest by AUM
- Less brand recognition
- Limited track record
- 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
0.40%
Screening Method
Russell IdealRatings Manzil Halal USA Broad Market Index
Holdings
~461
Manzil in Saskatchewan
Manzil's Manzil Russell Halal USA Broad Market ETF is available to investors in Saskatchewan, structured as a Index-based. The fund carries an expense ratio of 0.40%. Manzil serves 13 provinces, including Saskatchewan.
Our Take on Manzil
Manzil operates under a Shariah Supervisory Board that provides oversight across its financial products, and states it is the only Canadian provider following AAOIFI Shariah governance.
Bottom Line
Manzil is Canada's most established halal mortgage provider, offering AAOIFI-aligned Musharaka (co-ownership) alongside a Murabaha structure. Available in Ontario, Alberta, British Columbia, Saskatchewan and Nova Scotia with the largest track record in the market.
Read full Manzil reviewShariah Compliance & Oversight
Manzil Shariah Supervisory Board
2026-07-08
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Compare With Other Options in Saskatchewan
27 other investing products available to Saskatchewan residents
Shariah-compliant · 10 provinces
Shariah-compliant · 10 provinces
Shariah-compliant · 10 provinces
Shariah-compliant · 10 provinces
Shariah-compliant · 13 provinces
Shariah-compliant · 13 provinces
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.
Compare FundsFrequently Asked Questions
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Average score: 63/100
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Co-Founder, HalalWallet
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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- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.