Best Halal ETFs Compared 2026: SPUS, HLAL, UMMA, SPSK, SPRE & WSHR

For Muslim investors who want diversified, Shariah-compliant exposure without picking individual stocks, halal ETFs are the most practical option. This guide covers every major halal ETF category available today: US equity funds (SPUS, HLAL, UMMA), sukuk (SPSK), global real estate (SPRE), and Canada's Shariah-compliant equity fund (WSHR) -- so you can build a fully diversified halal portfolio rather than relying on equities alone.

Want the wider global universe? Explore our research library of 25 halal ETFs, including individual deep dives on SPUS, HLAL, and WSHR.

SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS)

SPUS tracks the S&P 500 Shariah Industry Exclusions Index, which takes the familiar S&P 500 and removes companies that do not meet Shariah screening criteria. This makes it the closest halal equivalent to a standard S&P 500 index fund.

• Index:S&P 500 Shariah Industry Exclusions
• Expense ratio: 0.45%
• Holdings: Approximately 230-250 stocks
• Focus: US large-cap equities
• Shariah advisor: Ratings Intelligence Partners

SPUS is the largest halal ETF by assets under management and is generally considered the benchmark for halal US equity investing. Its heavy weighting toward technology and healthcare (since financials are excluded) gives it a growth tilt compared to the regular S&P 500.

Wahed FTSE USA Shariah ETF (HLAL)

HLAL tracks the FTSE USA Shariah Index, which applies FTSE Russell's Shariah screening methodology to US equities. It is managed by Wahed Invest, one of the most recognized names in Islamic fintech.

• Index: FTSE USA Shariah Index
• Expense ratio: 0.50%
• Holdings: Approximately 200-250 stocks
• Focus: US equities across market caps
• Shariah advisor: Wahed Shariah Board

HLAL uses the FTSE screening methodology, which differs slightly from the S&P methodology used by SPUS. The FTSE approach uses total assets as the denominator for financial ratios rather than market cap. This can lead to a different set of included companies.

Wahed Dow Jones Islamic World ETF (UMMA)

UMMA provides global exposure by tracking the Dow Jones Islamic Market International Titans 100 Index. Unlike SPUS and HLAL which focus on US equities, UMMA invests in large international companies.

• Index: Dow Jones Islamic Market International Titans 100
• Expense ratio: 0.65%
• Holdings: Approximately 100 stocks
• Focus: International large-cap equities
• Shariah advisor: Wahed Shariah Board

UMMA is a good option for investors seeking geographic diversification beyond the US market. It includes companies from Europe, Asia, and other regions, all screened for Shariah compliance.

Beyond Equities: Sukuk, REITs & International Funds

A halal portfolio built only from equity ETFs skips two asset classes -- fixed income and real estate -- that conventional investors normally use for diversification and income. Three funds fill that gap.

SP Funds Dow Jones Global Sukuk ETF (SPSK)

SPSK is the only US-listed sukuk ETF, tracking the Dow Jones Sukuk Total Return Index. It holds government and corporate sukuk (the halal alternative to conventional bonds) and gives income-oriented investors a way to reduce equity concentration without touching interest-bearing instruments. Expense ratio: 0.79%.

SP Funds S&P Global REIT Sharia ETF (SPRE)

SPRE tracks the S&P Global All Equity REIT Shariah Capped Index, giving Shariah-screened exposure to global real estate investment trusts. Real estate is a natural fit for Islamic finance since it is an asset-backed, income-producing investment rather than a debt instrument. Expense ratio: 0.55%.

Wealthsimple Shariah World Equity Index ETF (WSHR)

WSHR, listed on the Cboe Canada exchange (WSHR.NE), was Canada's first Shariah-compliant ETF when it launched in 2021. It tracks the Dow Jones Islamic Market Developed Markets Quality & Low Volatility Index, giving Canadian investors globally diversified halal equity exposure with a quality/low-volatility tilt, reviewed semiannually by Rating Intelligence.

UK-Listed Options

UK-based investors also have access to Shariah-compliant iShares funds tracking MSCI Islamic indices (for example ISDU and ISUS for US exposure, and ISDW for global developed markets). As with any fund, check the current factsheet directly with the issuer for expense ratio, exact index, and Shariah certification before investing -- fund lineups and terms change more often than the underlying halal-screening principles do.

Key Differences at a Glance

How to Build a Diversified Halal Portfolio

The choice depends on your goals. If you want the closest halal equivalent to a standard S&P 500 fund, SPUS is the natural pick. If you prefer the FTSE methodology, HLAL is a solid alternative. For global diversification, UMMA complements a US-focused holding. Investors who want to reduce equity concentration can add SPSK for fixed-income exposure or SPRE for real estate, rather than holding equity ETFs alone. Canadian investors have WSHR as a single-fund global option. Many Muslim investors combine a US equity fund (SPUS or HLAL), a global fund (UMMA), and SPSK or SPRE for diversification beyond equities.

Frequently Asked Questions

Is there a halal alternative to bond ETFs?

Yes -- SPSK is a US-listed sukuk ETF, holding Shariah-compliant asset-backed certificates instead of interest-bearing bonds. It is the closest halal equivalent to a conventional bond-fund allocation.

Can I get halal real-estate exposure through an ETF?

Yes -- SPRE tracks a Shariah-screened global REIT index, giving income-oriented exposure to real estate without needing to buy property directly.

Are these ETFs available to Canadian and UK investors?

Canadian investors have a dedicated option in WSHR, listed on Cboe Canada. UK investors typically access Shariah-compliant exposure through iShares MSCI Islamic-index funds listed on the London Stock Exchange -- always confirm the current factsheet and Shariah certification with the issuer before investing.

Check ETF Holdings for Halal Compliance

Interested in checking other ETFs? Use the Halalytic screener to check the compliance status of any stock held within an ETF. You can screen individual holdings and track their compliance trends over time to make informed investment decisions.