[Feature Request 💡] ETF halalification

I saw someone talking about this so mentioning here.

Proposal:

  1. I pick a regular etf, e.g. XLE
  2. Zoya automatically gives me the list of stocks within XLE that are compliant, so it creates a XLE-compliant ETF. This is exactly how the existing compliant ETFs work, i.e. they just delete the haram ones.

Zoya should be able to do this as it has all the data.

Ideally Zoya would compare historic performance of the non-compliant ETF to the compliant ETF to show you how similar it is.

I’m still on the waitlist for Zoya Invest but that’s something I’d love to see.
AmalInvest is doing exactly this, they let you replicate any ETF minus the noncompliant stocks but they don’t have their own platform so they rely on third party brokers like Alpaca to do this for you.

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Yeah I think that’s where I might have heard of it. Makes a lot of sense.

I’ve started building something similar (for myself initially but with the idea of open-sourcing it later down the line) but neither Zoya nor Musaffa offer an API for individuals to check for a stock’s shariah compliance.
I understand the choice from a business perspective to focus on enterprise customers but I wish there was an alternative for us individuals.

Assalaamu Alykum Mokhtar! Welcome to the Zoya Community.

We’ve actually received a similar request in the past regarding the API. If you’d like to vote on it to help us prioritize our roadmap, check it out here if you haven’t already.

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Direct indexing can be a great way to customize your portfolio by replicating a fund’s strategy while bypassing management fees. It is certainly something we’re exploring.

This is kinda different. This is

I want to invest in US Real Estate, for example. So I know of VNQ ETF.
But…I know that of the 100 or so stocks in VNQ that some will not be compliant.

So I go to Zoya and search VNQ, then Zoya show me the compliant stocks for VNQ. Then Zoya also compares the performance of “VNQ Haram” with “VNQ Halal” so I can see that I’m getting the exposure I’m looking for.

Zoya then buys the stocks for me, in the same weightings as VNQ Halal, in my brokerage.