Skip to content
etf.net

Launched · SEC filings

Manzil Russell Halal USA Broad Market ETF

MNZLNasdaqC

$61.37−0.26 (−0.43%)

At close: Oct 13, 2026, 4:00 PM

C41/ 100

Rank 43 of 48 in US ESG & Values Index

C41/100Rank 43 of 48inUS ESG & Values Index
Intraday session: down, 50 prints from 61.63 to 61.37. Range 61.07 to 61.47. Use the arrow keys to read each point.61.1061.2061.3061.5010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$35M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
485
Avg volume · 30D
0M sh
NAV per share
$61.60
52W range
low $48.79high $64.99
Launched
Filings
SEC EDGAR

The ETF.net MNZL Grade

C

Score 41 out of 100

Category
US ESG & Values Index⁠
Rank
43 of 48
Six-pillar profile for MNZL. Scores out of 100: Cost 30, Risk 49, Mission 75, Tradability 16, Holdings 42, Durability 2. Strongest: Mission (75). Weakest: Durability (2). Leans toward Mission.

Score 41 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D30 out of 100
    Rank 34 of 48

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A75 out of 100
    Rank 35 of 43

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 26 of 48

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F16 out of 100
    Rank 46 of 48

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C42 out of 100
    Rank 35 of 48

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F2 out of 100
    Rank 48 of 48

Our read on MNZL

ETF.net Research

CA broad slice of the US market, filtered for faith. MNZL passively tracks a Russell index that screens stocks for Shariah compliance, then adds a second AFSC layer. Ordinary index plumbing, faith-based rules on top. Launched 2025.

Stated mandate

The Fund uses passive indexing to track the total return performance of its Russell index before fees and expenses. The index consists of common stocks and applies Shariah screening followed by AFSC principles.

Why people hold it

  1. 01Broad-market by construction: it passively tracks a Russell US index rather than a hand-picked list, so the halal screen sits on top of standard index plumbing.
  2. 02Two screens, not one: Shariah rules first, then AFSC principles, both written into the fund's own index rules.
  3. 03A single-ticket way to hold screened US common stocks without vetting names one at a time. Domestic equity only, so no foreign-market or currency layer.

Worth knowing

  1. 01The screen carries a price: 0.40% a year, versus 0.09% at ESGV and 0.08% at XVV in the wider screened-equity group.
  2. 02It opened in late 2025, so there is little history yet on how tightly it hugs its index.
  3. 03Still a small, thinly traded fund, which can mean wider bid-ask spreads than the established names in its peer group.

MNZL Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
485
Top-10 weight
42%
Largest holding
AAPL16.0%

Geography

  • United States97.01%
  • Ireland1.34%
  • United Kingdom0.94%
  • Switzerland0.23%
  • Cayman Islands0.17%
  • Australia0.11%
  • Bermuda0.06%
  • Netherlands0.06%
  • Other countries (4)0.08%
The fund’s holdings, weight-ordered — page 1 of 33.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001AAPLApple Inc16.05%16,917$6M715
002AVGOBroadcom Inc5.56%5,442$2M754
003MUMicron Technology Inc3.84%1,319$1M679
004TSLATesla Inc3.69%3,413$1M521
005AMDAdvanced Micro Devices Inc3.27%1,901$1M635
006LLYEli Lilly & Co3.10%932$1M583
007JNJJohnson & Johnson2.09%2,817$740K528
008ABBVAbbVie Inc1.61%2,070$570K522
009LRCXLam Research Corp1.33%1,459$470K606
010AMATApplied Materials Inc1.33%926$470K561
011MRKMerck & Co Inc1.18%2,891$420K515
012PGProcter & Gamble Co/The1.16%2,724$410K428
013PANWPalo Alto Networks Inc1.10%940$390K501
014HDHome Depot Inc/The0.96%1,166$340K442
015CRWDCrowdstrike Holdings Inc0.90%1,171$320K472

Showing 1–15 of 485 holdings

MNZL Performance

Launched Nov 18, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
MNZL$11,948
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. MNZL $11,948. SPY $11,500. Use the arrow keys to read each point.$9,072$10,675$12,278Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MNZL. Periods over one year show the average yearly return.
PeriodMNZL
Year to date+19.5%
1 month+2.6%
3 months+0.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MNZL
YearReturn barMNZL
2026 YTD+19.5%
2025+2.9%

History from Nov 19, 2025

MNZL in the news

Filtered to MNZL · US ESG & Values Index

MNZL Dividends

Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.02

MNZL Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.09
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MNZL Cost

Expense ratio0.40%
  • The middle half of US ESG & Values Index funds
  • Median 0.23%

34 of the 48 US ESG & Values Index funds charge less.

MNZL costs $40.00 a year on $10,000. The median US ESG & Values Index fund costs $22.50.

Other funds in US ESG & Values Index

See others