Investing · SPFunds
SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF
Co-Founder & CEO, HalalWallet
Facts are re-verified against SPFunds's published materials; this page updates when the provider's terms, rates, or coverage change.
SPUS is the largest halal ETF in North America: $2.9B in net assets tracking the S&P 500 Shariah Industry Exclusions Index, roughly 210 US large caps that pass S&P's Shariah business-activity and financial-ratio screens with extra industry exclusions. The 0.45% expense ratio is the cheapest in the SP Funds family, distributions are paid monthly, and the fund lists on the NYSE in US dollars - Canadians buy it through any brokerage with US market access and absorb currency conversion plus withholding-tax considerations in registered accounts.
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What is the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF?
9B in net assets tracking the S&P 500 Shariah Industry Exclusions Index, roughly 210 US large caps that pass S&P's Shariah business-activity and financial-ratio screens with extra industry exclusions. 45% expense ratio is the cheapest in the SP Funds family, distributions are paid monthly, and the fund lists on the NYSE in US dollars - Canadians buy it through any brokerage with US market access and absorb currency conversion plus withholding-tax considerations in registered accounts.
- Contract structure: Index-based.
- Expense ratio: 0.45%.
- Available in 10 provinces.
- Shariah oversight disclosed: Third-Party Certified.
- Verified against SPFunds's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Index-based
- Program type
- ETF
- Ticker
- SPUS
- Expense ratio
- 0.45%
- Screening method
- AAOIFI - S&P Shariah screens (under 5% impure revenue; debt below ~30% of market cap)
- Holdings
- ~210
- Assets under management
- $2.9B
- Focus
- US Large Growth
- Availability
- 10 provinces
- Shariah oversight
- Third-Party Certified
- Last verified
- 2026-08-05
Facts are taken from SPFunds's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
SPUS is the heavyweight of halal ETFs - $2.9B in assets and a 0.45% expense ratio, tracking the S&P 500 Shariah Industry Exclusions Index across roughly 210 US large caps. Screening follows AAOIFI rules (under 5% impure revenue, debt below about 30% of market cap), and SP Funds backs it with a published Sharia accreditation certificate, auditor report, and quarterly purification factors (Q1 2026: 1.81% of dividends). It is US-only and tech-heavy, so it pairs best with international exposure like SPWO or UMMA, and Canadians should weigh the USD listing's currency conversion and the 15% dividend withholding drag inside a TFSA, FHSA, or RESP (an RRSP is exempt). Best as the core US holding for passive halal index investors.
Strengths
- 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
Watch-outs
- 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)
Is the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF halal?
SPUS tracks the S&P 500 Shariah Industry Exclusions Index: S&P 500 companies that pass S&P Shariah business-activity and financial-ratio screens with additional industry exclusions. Screening is AAOIFI-aligned - excluding conventional finance, alcohol, gambling, tobacco, pork, adult entertainment, and weapons, and capping interest-bearing debt relative to market capitalization - and each SP Funds ETF publishes a Certificate of Sharia Accreditation and Sharia Auditor Report, with quarterly purification factors.
Shariah oversight disclosed by SPFunds
SP Funds employs a Shariah Advisory Board that oversees the screening methodology applied to all ETFs in the family.
Read our full AAOIFI-based Shariah screen for SPUS →
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- ~200 low-leverage S&P 500 companies passing the S&P 500 Shariah Industry Exclusions Index screens
- 0.45% expense ratio - cheapest in the SP Funds family; monthly distributions
- Published Certificate of Sharia Accreditation and Sharia Auditor Report
- Quarterly purification factors with a free calculator (Q1 2026: 1.81% of dividends)
- Non-compliant holdings removed at quarterly rebalancing
- NYSE-listed in USD - held by Canadians through any brokerage with US market access (currency conversion and withholding-tax considerations apply)
Cost and terms
0.45% expense ratio; no fund minimum - buy by the share (about USD $57 in early Aug 2026) through any Canadian brokerage with US market access; fractional shares from $1-$10 at some US brokers; net assets $2,922M as of Aug 4, 2026; currency conversion applies on CAD purchases and US dividend withholding tax applies in a TFSA/FHSA/RESP (verified 2026-08-05)
How it compares
Other investing providers we list in Canada, ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF (this page) | Index-based | Third-Party Certified | 10 provinces | — |
| Manzil Russell Halal USA Broad Market ETF | Index-based | Third-Party Certified | every province | A |
| Wahed Dow Jones Islamic World ETF | Index-based | Third-Party Certified | 10 provinces | B |
| Assad Wealth Management Wealth Management | Wealth Management | No Public Review | 10 provinces | — |
| ShariaPortfolio Wealth Management | Wealth Management | Third-Party Certified | 4 provinces | — |
Other SPFunds products
- SP Funds S&P World ETF
Investing · Index-based
- SP Funds S&P Global REIT Shariah ETF
Investing · Index-based
- SP Funds S&P Global Technology ETF
Investing · Index-based
- SP Funds Dow Jones Global Sukuk ETF
Investing · Index-based
Where it's available
SPFunds lists the SP Funds S&P 500 Shariah Industry Exclusions ETF as available in 10 provinces.
Availability may vary by product and can change; verify with SPFunds before applying.
Frequently asked questions
Is the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF halal?
SPUS tracks the S&P 500 Shariah Industry Exclusions Index: S&P 500 companies that pass S&P Shariah business-activity and financial-ratio screens with additional industry exclusions. Contract structure: Index-based. Shariah oversight disclosed by SPFunds: Third-Party Certified. HalalWallet reports what the provider documents; we do not certify products.
How does the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF work?
9B in net assets tracking the S&P 500 Shariah Industry Exclusions Index, roughly 210 US large caps that pass S&P's Shariah business-activity and financial-ratio screens with extra industry exclusions.
What does the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF cost?
0.45% expense ratio; no fund minimum - buy by the share (about USD $57 in early Aug 2026) through any Canadian brokerage with US market access; fractional shares from $1-$10 at some US brokers; net assets $2,922M as of Aug 4, 2026; currency conversion applies on CAD purchases and US dividend withholding tax applies in a TFSA/FHSA/RESP (verified 2026-08-05)
Where is the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF available?
SPFunds lists this product as available in 10 provinces. Availability can change and may differ by province; verify directly with SPFunds.
What are the alternatives to the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF?
In the same category we also list Manzil Russell Halal USA Broad Market ETF (HalalWallet Index A), Wahed Dow Jones Islamic World ETF (HalalWallet Index B), Assad Wealth Management Wealth Management. Compare every option side by side on our Halal Investing hub.
When was this SPFunds product information last verified?
HalalWallet last verified the SPFunds SP Funds S&P 500 Shariah Industry Exclusions ETF details against SPFunds's published materials on 2026-08-05. Rates, fees, and availability can change after that date.
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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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
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