SPUS vs HLAL vs UMMA: Which Shariah ETF is Right for You?

Exchange-Traded Funds (ETFs) have democratized diversified investing. For Muslim investors, three ticker symbols dominate the US stock market: SPUS, HLAL, and UMMA.

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

• Underlying Index: S&P 500 Shariah Index
• Expense Ratio: 0.45%
• Top Holdings: Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOGL)
• Best For: Core large-cap US growth exposure matching S&P 500 performance.

2. HLAL (Wahed FTSE USA Shariah ETF)

• Underlying Index: FTSE USA Shariah Index
• Expense Ratio: 0.50%
• Best For: Broad US exposure across large and mid-cap equities.

3. UMMA (Wahed Dow Jones Islamic World ex-USA ETF)

• Underlying Index: Dow Jones Islamic Market International
• Expense Ratio: 0.65%
• Best For: Global geographic diversification outside the United States.