HLAL (Wahed FTSE USA Shariah ETF, issued by ShariaPortfolio) and SPUS (S&P 500 Sharia Industry Exclusions ETF, issued by SP Funds) are the two best-known halal ETFs in the US market. Both screen the same way; they track different indices.
Listed
ShariaPortfolio
Best for: HLAL ETF issuer + advisory
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HLAL (FTSE USA Shariah ETF)
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Custom Sharia-compliant portfolios
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Active research team
Listed for transparency. Full Mufti Saad review pending corpus seed.
Listed
SP Funds
Best for: Halal ETF issuer (SPUS, SPSK)
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SPUS (S&P 500 Sharia exclusions)
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SPSK (sukuk ETF)
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Low expense ratios for halal exposure
Listed for transparency. Full Mufti Saad review pending corpus seed.
Side by side
The dimensions that matter.
Dimension
ShariaPortfolio
SP Funds
Ticker
HLAL
SPUS
Issuer
ShariaPortfolio (via Wahed)
SP Funds
Underlying index
FTSE USA Shariah
S&P 500 Sharia Industry Exclusions
Holdings count (approx)
~200 names
~180 names
Expense ratio
Low (under 0.50%)
Low (under 0.50%)
Universe
Broader US (mid + large cap)
S&P 500 universe
Purification disclosure
Published per-share rate
Published per-share rate
Verdict
Where each wins.
Both are credible core-portfolio halal ETF choices. HLAL is broader (mid + large cap). SPUS is more concentrated on S&P 500 names. Many portfolios hold both for diversification across index methodologies. Expense ratios are comparable; track record favors HLAL by virtue of its slightly earlier launch.
Editorial comparison. A Mufti-signed verdict replaces this when corpus content covers the pairing.
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