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Launched · SEC filings

Manzil Russell Halal USA Broad Market ETF

MNZLNasdaqC

$59.93−0.39 (−0.65%)

As of Nov 10, 2026, 11:27 AM ET

C40/ 100

Rank 44 of 48 in US ESG & Values Index

C40/100Rank 44 of 48inUS ESG & Values Index
Intraday session: down, 24 prints from 60.32 to 59.93. Range 59.88 to 60.35. Use the arrow keys to read each point.60.0060.1060.2010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$39M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
483
Avg volume · 30D
6.45K sh
52W range
low $48.79high $64.99
Launched
Filings
SEC EDGAR

The ETF.net MNZL Grade

C

Score 40 out of 100

Category
US ESG & Values Index⁠
Rank
44 of 48
Six-pillar profile for MNZL. Scores out of 100: Cost 26, Risk 47, Mission 78, Tradability 20, Holdings 32, Durability 2. Strongest: Mission (78). Weakest: Durability (2). Leans toward Mission.

Score 40 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.
    D26 out of 100
    Rank 36 of 48

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A78 out of 100
    Rank 33 of 43

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 31 of 48

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F20 out of 100
    Rank 44 of 48

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D32 out of 100
    Rank 42 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

In short

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

  • Broad-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.
  • Two screens, not one: Shariah rules first, then AFSC principles, both written into the fund's own index rules.
  • A 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

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

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$11,694
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,124
Dec 31, 2025 to Nov 9, 2026. MNZL $11,694. SPY $11,124. Use the arrow keys to read each point.$10,000$11,000$12,000Dec 2025Jun 2026Nov 2026

Dec 31, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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+16.9%
1 month−2.6%
3 months−0.5%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+16.9%
2025+2.9%

History from Nov 19, 2025

MNZL in the news

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

Risk pillarC47 out of 100Rank 31 of 48 in US ESG & Values Index
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.
1.08
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.

FMP measures it over up to five years of monthly returns.

MNZL Cost

Compare MNZL and USCL

Overpaying vs USCL, tied cheapest in US ESG & Values Index

$6,401

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MNZL 0.40%

    $8,090

  • USCL 0.08% Tied cheapest

    $1,689

$10,000
30 years

Cost over time

  • MNZL 0.40%
  • USCL 0.08%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530MNZL $8,090USCL $1,689

Year by year

YearMNZLUSCLOverpaying
10$723$147$576
20$2,793$575$2,218
30$8,090$1,689$6,401

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