Investing · Wahed
Wahed Dow Jones Islamic World ETF
Co-Founder & CEO, HalalWallet
Facts are re-verified against Wahed's published materials; this page updates when the provider's terms, rates, or coverage change.
UMMA is one of the few single-ticker routes to Shariah-compliant international equity: roughly 100 non-US names from developed and emerging markets, loosely tracking the Dow Jones Islamic Market International Titans 100 with ESG data formally incorporated - Wahed markets it as the first US-listed Islamic ETF to do so. Net assets reached $285M in August 2026. The 0.65% expense ratio is the highest among major halal ETFs, the price of active international management. Nasdaq-listed since January 2022 with quarterly distributions.
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What is the Wahed Dow Jones Islamic World ETF?
UMMA is one of the few single-ticker routes to Shariah-compliant international equity: roughly 100 non-US names from developed and emerging markets, loosely tracking the Dow Jones Islamic Market International Titans 100 with ESG data formally incorporated - Wahed markets it as the first US-listed Islamic ETF to do so. Net assets reached $285M in August 2026.
- Contract structure: Index-based.
- Expense ratio: 0.65%.
- Available in 10 provinces.
- Shariah oversight disclosed: Third-Party Certified.
- HalalWallet Index grade for Wahed in Investing: B.
- Verified against Wahed's published materials on 2026-08-13.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Index-based
- Program type
- ETF
- Ticker
- UMMA
- Expense ratio
- 0.65%
- Screening method
- Dow Jones Islamic Market screens; Shariyah Review Bureau as external advisor
- Holdings
- ~100
- Assets under management
- $285M
- Focus
- Global Large Growth
- Availability
- 10 provinces
- Shariah oversight
- Third-Party Certified
- Last verified
- 2026-08-13
Facts are taken from Wahed's published product materials and were last verified on 2026-08-13. Fields the provider does not publish are omitted rather than estimated.
Our take
UMMA is one of the few ways to get Shariah-compliant international equity in a single ETF, covering roughly 100 non-US names under the Dow Jones Islamic methodology with Wahed's Shariah Supervisory Board reviewing the fund on an ongoing basis and Shariyah Review Bureau as external advisor. Assets grew to $285M by August 2026. The costs are real: a 0.65% expense ratio - highest among the major halal ETFs - plus currency exposure on top of the USD listing, and a concentrated 100-name portfolio versus SPWO's ~500. Canadians absorb conversion costs and 15% dividend withholding in a TFSA, FHSA, or RESP. Best as the international complement to a US-focused core like HLAL or SPUS for investors who prefer Wahed's named-scholar governance.
Strengths
- International (non-US) halal exposure in a single ticker
- Dow Jones Islamic Market methodology with ongoing board review
- Complements US-focused ETFs like HLAL and SPUS
- Quarterly purification amounts published
- Formally incorporates ESG data (company claim: first US-listed Islamic ETF to do so)
Watch-outs
- Higher expense ratio (0.65%)
- Currency exposure
- Smaller AUM
- Because UMMA trades on a US exchange, currency conversion applies and dividends are reduced 15% by US withholding tax in a TFSA, FHSA, or RESP - RRSP holdings are exempt
Is the Wahed Dow Jones Islamic World ETF halal?
UMMA follows Dow Jones Islamic Market international screening, excluding conventional finance, alcohol, tobacco, gambling, adult entertainment, and weapons alongside financial-ratio tests. Wahed's Shariah Supervisory Board reviews the fund on an ongoing basis with Shariyah Review Bureau as external advisor, and quarterly purification amounts are published for dividend cleansing.
Shariah oversight disclosed by Wahed
Wahed operates under a Shariah Supervisory Board composed of multiple Islamic finance scholars who review investment strategies and approve portfolios for Sharia compliance.
Read our full AAOIFI-based Shariah screen for UMMA →
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Loosely tracks the Dow Jones Islamic Market International Titans 100 - screened non-US developed and emerging markets
- 0.65% expense ratio; Nasdaq-listed since January 2022; quarterly distributions
- Quarterly purification amounts on dividends published on the fund page
- Per-fund fatwa plus published Shariah Supervisory Board reports (2022–2024)
- Wahed markets it as the first US-listed Islamic ETF formally incorporating ESG data (company claim)
- US-listed in USD: bought through a Canadian brokerage, since Wahed's managed platform doesn't serve Canada
Cost and terms
0.65% expense ratio; no fund minimum - Nasdaq-listed at about USD $36/share in early Aug 2026; net assets $285M as of Aug 4, 2026; quarterly distributions; bought through any Canadian brokerage with US access, with currency conversion and 15% withholding tax on dividends 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 |
|---|---|---|---|---|
| Wahed Dow Jones Islamic World ETF (this page) | Index-based | Third-Party Certified | 10 provinces | B |
| SPFunds SP Funds Dow Jones Global Sukuk ETF | Index-based | Third-Party Certified | 10 provinces | — |
| Manzil Russell Halal USA Broad Market ETF | Index-based | Third-Party Certified | every province | A |
| Assad Wealth Management Wealth Management | Wealth Management | No Public Review | 10 provinces | — |
| ShariaPortfolio Wealth Management | Wealth Management | Third-Party Certified | 4 provinces | — |
Other Wahed products
- Wahed FTSE USA Shariah ETF
Investing · Index-based
Where it's available
Wahed lists the Wahed Dow Jones Islamic World ETF as available in 10 provinces.
Availability may vary by product and can change; verify with Wahed before applying.
Frequently asked questions
Is the Wahed Dow Jones Islamic World ETF halal?
UMMA follows Dow Jones Islamic Market international screening, excluding conventional finance, alcohol, tobacco, gambling, adult entertainment, and weapons alongside financial-ratio tests. Wahed's Shariah Supervisory Board reviews the fund on an ongoing basis with Shariyah Review Bureau as external advisor, and quarterly purification amounts are published for dividend cleansing. Contract structure: Index-based. Shariah oversight disclosed by Wahed: Third-Party Certified. HalalWallet reports what the provider documents; we do not certify products.
How does the Wahed Dow Jones Islamic World ETF work?
UMMA is one of the few single-ticker routes to Shariah-compliant international equity: roughly 100 non-US names from developed and emerging markets, loosely tracking the Dow Jones Islamic Market International Titans 100 with ESG data formally incorporated - Wahed markets it as the first US-listed Islamic ETF to do so. Net assets reached $285M in August 2026. 65% expense ratio is the highest among major halal ETFs, the price of active international management.
What does the Wahed Dow Jones Islamic World ETF cost?
0.65% expense ratio; no fund minimum - Nasdaq-listed at about USD $36/share in early Aug 2026; net assets $285M as of Aug 4, 2026; quarterly distributions; bought through any Canadian brokerage with US access, with currency conversion and 15% withholding tax on dividends in a TFSA/FHSA/RESP (verified 2026-08-05)
Where is the Wahed Dow Jones Islamic World ETF available?
Wahed lists this product as available in 10 provinces. Availability can change and may differ by province; verify directly with Wahed.
What are the alternatives to the Wahed Dow Jones Islamic World ETF?
In the same category we also list SPFunds SP Funds Dow Jones Global Sukuk ETF, Manzil Russell Halal USA Broad Market ETF (HalalWallet Index A), Assad Wealth Management Wealth Management. Compare every option side by side on our Halal Investing hub.
When was this Wahed product information last verified?
HalalWallet last verified the Wahed Dow Jones Islamic World ETF details against Wahed's published materials on 2026-08-13. 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:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- 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.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-13
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