Build wealth with a smart portfolio that complies with Islamic law.
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. Learn more about the companies we invest in and how they are screened.
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
The Halal Investing portfolio includes 50 stocks selected to track the market as closely as possible and optimize for diversification. Your money is invested in companies around the world to minimize risk and maximize reward.
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Of course! Anyone who is a suitable investor can invest in this portfolio.
Wealthsimple has one version of the Halal Investing portfolio and it can't be customized. We've built a fully diversified portfolio of stocks that complies with Shariah law, constructed by the expert team at MSCI.
We charge the same fees as for our halal portfolio as we do for our regular and socially responsible portfolios: 0.5% up to $100,000, and 0.4% over $100,000. Plus, you get an additional $10,000 managed free for every friend you refer to Wealthsimple!
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.
We use the MSCI Islamic Index Series Methodology to exclude non-Sharia-compliant securities through business activity screening and financial ratio screening. The methodology is approved by MSCI’s Sharia advisors’ committee of Sharia scholars. You can learn more here.
No, it uses individual stocks rather than ETFs. But the process we use to construct our Halal Investing portfolio is very similar to an ETF, which tracks a market index as a whole, rather than trying to pick stocks. The Halal investing portfolio includes 50 stocks selected to track the broad market as closely as possible to maximize our clients' diversification, while complying with Islamic law. See the entire list of stocks here.
Wealthsimple's other portfolios use fixed income (bonds) to lower the overall risk of a portfolio for balanced and conservative investors. Islamic investing principles exclude fixed income, so the Halal Investing portfolio is an all equity portfolio. Equity is more volatile than fixed income, so it is a higher risk Growth portfolio. We recommend keeping more of your assets in cash if you're investing in the Halal Investing portfolio, and speaking with one of our portfolio managers if you have any questions.