Are there any Halal Oil ETFs to invest?
Salaam, and welcome @khan1!
Most oil ETFs are based on derivatives like futures contracts, which typically makes them impermissible to invest in. The alternative is equity-based ETFs that invest directly in oil and energy companies, such as XLE or VDE.
However, they may still contain some non-compliant stocks, in which case you can use Zoya to check the top Shariah-compliant holdings and then buy those stocks directly through your broker.
We also have a pre-built Energy sector basket in Zoya that’s based on the top Shariah-compliant holdings of XLE, making it even easier to buy.
