Halal Investing
Invest according to your values
Build wealth with a smart portfolio that complies with Islamic law.
Our Halal investing principles
Our Halal Investing portfolio is a simple and low-cost way to grow your money. Your portfolio is optimized not only for performance, but for companies and investments that comply with Islamic law.
- All investments are screened by a third-party committee of Shariah scholars
- No investment in companies that profit from gambling, arms, tobacco, or other restricted industries
- No businesses that derive significant income from interest on loans
How we build your Halal portfolio
We invest your money across the entire stock market using exchange traded funds (ETFs) that are carefully screened to comply with Islamic law, while remaining as diversified as possible to maximize performance.
- WSHR
Shariah-compliant equities in developed markets globally - Gold
Gold provides diversification against equity risk in your portfolio - Non-interest bearing cash
We use non-interest bearing cash to manage the risk level of your portfolio
We built Canada’s first Shariah-compliant ETF
- Every company in our fund does not derive more than 5% of their income from alcohol, tobacco, pork-related products, weapons, conventional banking or insurance companies, and adult entertainment.
- We included only high-quality global Shariah stocks in a broad set of sectors.
- Our fund has been certified by a team of Islamic researchers at Ratings Intelligence Partners
Meet our money experts
- Honest - We're what's called a fiduciary. That means we're obligated to give you actionable feedback that's in your best interest, not ours. Schedule a portfolio review.
- Human - We're loved for our technology. But we also have smart people to answer any questions or give advice when you need it.
- Experienced - Our advisors have thousands of hours of experience advising seasoned, high-net-worth investors, and folks just starting out.
Accounts that fit your goals
TFSA
A popular savings account that lets you grow your investments tax free on the gains you make over time.
RRSP
Our most common retirement account that lets you defer and reduce your taxes for when you retire.
Business Invest
For business owners that want to take advantage of lower corporate income tax rates.
LIRA
If you have a pension from a former employer but are not yet retired.
RESP
Help save money for a child's education while lowering tax burden and taking advantage of government matching.
Joint
For accounts with multiple owners, such as married couples and business partners.
RRIF
For those 71 years of age and older, who would like to convert their RRSP account.
Personal
Our most common taxable account for the extra money you want to invest after maxing out your RRSP and TFSA.
Transfer an account, we'll pay the fees.
Are you paying higher fees elsewhere on your RRSP, TFSA, or other accounts? You don’t have to. Transfer any accounts with more than $5,000 to Wealthsimple and we’ll cover the administrative transfer fees the other company charges you.
- Over $10B and counting - More than 1 million Canadians trust over $10 billion with Wealthsimple companies
- Everything is encrypted - We use state-of-the-art data encryption when handling your financial information and two-factor authentication (2FA) protection
- Insurance and protection - All of our accounts have standard insolvency and deposit protection
- Powerful backing - Wealthsimple is backed by over $1 billion in investment from some of the world's most notable investors
We keep your money safe
FAQs
Halal investing is investing in companies that are in line with Islamic principles of investing. A lot of conventional investment products aren't compliant. For example, profiting off debt is prohibited, so bonds and GICs are off the table for observant muslims. Additionally, halal investing prohibits businesses that profit off certain activities, including alcohol, tobacco, gambling, pork, and weapons, among others.
Of course! Anyone who is a suitable investor can invest in this portfolio.
| ETF | Symbol | Description |
|---|---|---|
| Wealthsimple Shariah World Equity Index | WSHR | High quality Shariah-compliant developed market stocks in a broad set of sectors |
| SPDR Gold MiniShares | GLDM | Shariah compliant physical gold bullion |
We charge the same fees for our Halal portfolio as we do for our regular and socially responsible portfolios: a 0.5% management fee on your first $100,000 and 0.4% after that. However, the fees charged by the firms that manage the ETFs are modestly higher than the fees for regular ETFs - a weighted average of 0.23% to 0.47% compared with 0.1% to 0.2% for standard Wealthsimple portfolios. There’s a good reason for a higher fee: we have worked closely with Shariah scholars to thoroughly review the ETFs to screen for companies that comply with Islamic law. Wealthsimple collects a portion of that fee for managing the equity ETF.