EFIV vs MNZL: Grades, Fees and Holdings Compared

State Street SPDR S&P 500 ESG ETF

EFIVANYSE Arca

Manzil Russell Halal USA Broad Market ETF

MNZLCNasdaq

Overlap

34.4%by weight

Expense ratio

EFIV −0.30pt a year

EFIV0.10%MNZL0.40%

Avg volume · 30D

EFIV 9.3×the volume

EFIV59.9KMNZL6.45K

EFIV vs MNZL Performance

Dec 31, 2025 – Nov 9, 2026

+9.6%EFIV+16.9%MNZL

Expense ratio: EFIV 0.10%, better; MNZL 0.40%
Fund size: EFIV $1B; MNZL $39M
1Y total return: EFIV +12.9%; MNZL No data
Yield (12M): EFIV 1.03%; MNZL No data
Holdings: EFIV 326; MNZL 483
Avg volume (30D): EFIV 59.9K sh, better; MNZL 6.45K sh
NAV per share: EFIV $70.67; MNZL $60.27
52W range

ETF.net Grade

Pillar letters and Scores for EFIV, MNZL, with each pillar’s weight
Pillar	EFIV	MNZL
Cost30% weight	A86Higher	D26
Mission25% weight	A100Higher	A78
Risk15% weight	C51Higher	C47
Tradability15% weight	A84Higher	F20
Holdings10% weight	C43Higher	D32
Durability5% weight	B68Higher	F2

Rank among US ESG & Values Index funds

How we build Categories ›

Same Category. EFIV and MNZL are both graded against the same 47 US ESG & Values Index funds, so their Grades compare head to head.

US ESG & Values Index⁠

Category · 47 funds

See all 47 ›

EFIV ranks 2nd and MNZL 43rd of 47 funds in the US ESG & Values Index Category.

Rank 1AKLMNInvesco MSCI North America Climate ETFScore 80
Rank 2AEFIVState Street SPDR S&P 500 ESG ETFScore 78
Rank 2ASNPEXtrackers S&P 500 Scored & Screened ETFScore 78
Rank 42CBIBLInspire 100 ETFScore 42
Rank 43CMNZLManzil Russell Halal USA Broad Market ETFScore 40
Rank 44DWOMNImpact Shares YWCA Women's Empowerment ETFScore 37

Our read on each fund

ETF.net Research

EFIVAState Street SPDR S&P 500 ESG ETF

MNZLCManzil Russell Halal USA Broad Market ETF

In short

EFIV A screened S&P 500 that still looks like one. EFIV trims to about 300 names on ESG criteria but holds industry-group weights close to the parent index, for 0.10% a year.

MNZL A 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

EFIV The Fund seeks to track an index of securities selected using environmental, social, and governance sustainability criteria while retaining industry-group weights broadly similar to the S&P 500 Index.

MNZL 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

EFIV Charges 0.10% a year, well under the 0.25% typical of its values-screened peer group.
Keeps industry-group weights broadly similar to the S&P 500, so the screen changes which names you own more than which sectors.
Tracks its declared index very tightly, one of the cleaner implementations in its cohort.
Straightforward 1940 Act index fund from SPDR, running since 2020, distributing quarterly.

MNZL 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

EFIV About 300 stocks, not 500. The screens remove names, so results can diverge from the headline S&P 500.
Cheaper shelf-mates exist: XVV at 0.08% and ESGV at 0.09% undercut it on fee.
Mid-size asset base and moderate trading volume, which can mean wider spreads than the mega-cap index giants.

MNZL 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.

Full EFIV profile⁠

Full MNZL profile⁠

EFIV vs MNZL Holdings

How EFIV and MNZL differ

Overlap by weight

34.4%

Shared holdings make up 46.7% of MNZL and 34.4% of EFIV.

Level by level

Holdings159 in both34.4%
Sector11 Sectors73.1%
Asset classStocks100%
Countryby domicile99.7%

Sector

Sector weights in EFIV and MNZL, widest gap first
Sector	Gap	EFIV	MNZL
Financials	EFIV +13.8 points	14.0%	0.2%
Technology	MNZL +12.3 points	34.2%	46.5%
Communication	EFIV +9.5 points	9.9%	0.4%
Health Care	MNZL +5.5 points	13.6%	19.1%
Consumer Discretionary	MNZL +4.8 points	5.1%	9.9%
Industrials	MNZL +2.9 points	8.4%	11.3%
Consumer Staples	EFIV +2.2 points	5.9%	3.7%
Materials	MNZL +1.5 points	2.2%	3.7%
Utilities	EFIV +1.1 points	1.4%	0.3%
Real Estate	EFIV +0.1 points	2.3%	2.2%
Energy	EFIV +0.1 points	3.0%	2.9%

Country, concentration and asset class

Country by domicile

Country weights in EFIV and MNZL, widest gap first
Country	Gap	EFIV	MNZL
United States	MNZL +0.2 points	99.4%	99.6%
Switzerland	EFIV +0.1 points	0.3%	0.2%
China	EFIV +0.2 points	0.1%	0.0%
Mexico	MNZL +0.1 points	0.0%	0.1%
Ireland	Same weight	0.1%	0.1%
United Kingdom	Same weight	0.1%	0.1%
India	Same weight	0.0%	0.0%
Finland	Same weight	0.0%	0.0%
Germany	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

EFIV40.6%
MNZL42.0%

Securities held

EFIV324
MNZL482

Asset class

EFIV: Stocks
MNZL: Stocks

Holdings

Only in EFIV165
In both159
Only in MNZL323

Only in EFIV

165 securities, 65.5% of EFIV by weight

NVIDIA Corp11.70%
Microsoft Corp10.21%
Alphabet Inc Class A4.33%
Alphabet Inc Class C3.50%
Visa Inc Class A Shares1.87%
Walmart Inc1.45%
Mastercard Inc A1.37%
Costco Wholesale Corp1.22%
Coca Cola Co/The0.96%
Cisco Systems Inc0.96%
UnitedHealth Group Inc0.92%
General Electric0.87%
Bank of America Corp0.83%
Intel Corp0.73%
Netflix Inc0.69%
Caterpillar Inc0.67%
Wells Fargo & Co0.66%
Goldman Sachs Group Inc0.65%
Amgen Inc0.65%
Morgan Stanley0.56%
Walt Disney Co/The0.52%
Citigroup Inc0.52%
McDonald’s Corp0.51%
Nextera Energy Inc0.47%
BlackRock Inc0.44%
American Express Co0.44%
Deere & Co0.44%
Accenture PLC Class A0.41%
Schwab (Charles) Corp0.39%
At+t Inc0.39%
S+p Global Inc0.37%
Eaton Corp PLC0.34%
Chubb Ltd0.33%
Bristol Myers Squibb Co0.33%
Capital One Financial Corp0.32%
Booking Holdings Inc0.31%
Starbucks Corp0.31%
Cme Group Inc0.29%
Cvs Health Corp0.28%
Marathon Petroleum Corp0.27%
Seagate Technology Holdings0.27%
Bank of New York Mellon Corp0.26%
Valero Energy Corp0.26%
Dell Technologies C0.26%
Marsh & Mclennan Cos0.25%
Intercontinental Exchange In0.25%
Moderna Inc0.24%
Intuit Inc0.24%
Us Bancorp0.24%
Elevance Health Inc0.24%

Only in MNZL

323 securities, 52.7% of MNZL by weight

Apple Inc17.52%
Broadcom Inc4.83%
Tesla Inc3.69%
Advanced Micro Devices Inc2.57%
Johnson & Johnson2.36%
Procter & Gamble Co/The1.35%
Crowdstrike Holdings Inc0.77%
Arista Networks Inc0.64%
Intuitive Surgical Inc0.56%
Vertex Pharmaceuticals Inc0.48%
Marvell Technology Inc0.42%
McKesson Corp0.42%
Sandisk Corp0.42%
AppLovin Corp0.35%
3M Co0.35%
Snowflake Inc0.35%
Synopsys Inc0.29%
Space Exploration Technologies Corp0.29%
United Parcel Service Inc0.29%
Vertiv Holdings Co0.27%
Airbnb Inc0.27%
Ross Stores Inc0.27%
O'Reilly Automotive Inc0.27%
Sherwin-Williams Co/The0.27%
FedEx Corp0.24%
Monolithic Power Systems Inc0.21%
Monster Beverage Corp0.21%
Datadog Inc0.21%
Nucor Corp0.19%
Garmin Ltd0.19%
Carvana Co0.19%
Vivmark Residential0.19%
Ferguson Enterprises Inc0.16%
Strategy Inc0.16%
Anglogold Ashanti Plc0.16%
Bloom Energy Corp0.16%
Roper Technologies Inc0.16%
Vylor Inc0.16%
Natera Inc0.13%
Vulcan Materials Co0.13%
Copart Inc0.11%
Okta Inc0.11%
Astera Labs Inc0.11%
Sunbelt Rentals Holdings Inc0.11%
Microchip Technology Inc0.11%
ROBLOX Corp0.11%
Zoom Communications Inc0.11%
Everpure Inc0.11%
Dexcom Inc0.11%
Steel Dynamics Inc0.11%

Weight gaps

The 100 widest of 159 Holdings in both funds.

Holding weights in EFIV and MNZL, widest gap first
Holding	Gap	EFIV	MNZL
Eli Lilly & CoLLY	MNZL +1.00 points	2.81%	3.82%
Micron Technology IncMU	MNZL +0.74 points	2.02%	2.76%
AbbVie IncABBV	MNZL +0.49 points	1.34%	1.83%
Merck & Co. Inc.MRK	MNZL +0.33 points	0.94%	1.27%
Home Depot IncHD	MNZL +0.33 points	0.89%	1.22%
Applied Materials IncAMAT	MNZL +0.24 points	0.69%	0.93%
Palo Alto Networks IncPANW	MNZL +0.23 points	0.67%	0.90%
Thermo Fisher Scientific IncTMO	MNZL +0.23 points	0.67%	0.90%
Lam Research CorpLRCX	MNZL +0.23 points	0.65%	0.88%
Texas Instruments IncTXN	MNZL +0.22 points	0.66%	0.88%
Ge Vernova IncGEV	MNZL +0.20 points	0.54%	0.74%
Linde PLCLIN	MNZL +0.20 points	0.62%	0.82%
Pepsico IncPEP	MNZL +0.19 points	0.50%	0.69%
Gilead Sciences IncGILD	MNZL +0.18 points	0.54%	0.72%
Analog Devices IncADI	MNZL +0.18 points	0.46%	0.64%
Abbott LaboratoriesABT	MNZL +0.17 points	0.49%	0.66%
Kla CorpKLAC	MNZL +0.17 points	0.47%	0.64%
Union Pacific CorpUNP	MNZL +0.16 points	0.45%	0.61%
ConocophillipsCOP	MNZL +0.15 points	0.43%	0.58%
Salesforce IncCRM	MNZL +0.16 points	0.45%	0.61%
Qualcomm IncQCOM	MNZL +0.15 points	0.46%	0.61%
Welltower IncWELL	MNZL +0.15 points	0.46%	0.61%
Pfizer IncPFE	MNZL +0.14 points	0.43%	0.58%
Tjx Companies IncTJX	MNZL +0.14 points	0.39%	0.53%
Danaher CorpDHR	MNZL +0.13 points	0.37%	0.50%
Lowe’s Cos IncLOW	MNZL +0.12 points	0.33%	0.45%
Newmont CorpNEM	MNZL +0.12 points	0.33%	0.45%
Uber Technologies IncUBER	MNZL +0.12 points	0.36%	0.48%
Medtronic PLCMDT	MNZL +0.11 points	0.34%	0.45%
Prologis IncPLD	MNZL +0.11 points	0.31%	0.42%
Emerson Electric CoEMR	MNZL +0.11 points	0.24%	0.35%
Illinois Tool WorksITW	MNZL +0.10 points	0.19%	0.29%
Stryker CorpSYK	MNZL +0.10 points	0.30%	0.40%
Mondelez International Inc AMDLZ	MNZL +0.10 points	0.22%	0.32%
Adobe IncADBE	MNZL +0.10 points	0.25%	0.35%
Servicenow IncNOW	MNZL +0.10 points	0.27%	0.37%
Eog Resources IncEOG	MNZL +0.09 points	0.20%	0.29%
Waste Management IncWM	MNZL +0.09 points	0.23%	0.32%
Cadence Design Sys IncCDNS	MNZL +0.09 points	0.23%	0.32%
Phillips 66PSX	MNZL +0.09 points	0.26%	0.35%
Marriott International Class AMAR	MNZL +0.09 points	0.23%	0.32%
Regeneron PharmaceuticalsREGN	MNZL +0.09 points	0.23%	0.32%
Equinix IncEQIX	MNZL +0.09 points	0.26%	0.35%
Csx CorpCSX	MNZL +0.08 points	0.24%	0.32%
Quanta Services IncPWR	MNZL +0.08 points	0.21%	0.29%
Johnson Controls InternationJCI	MNZL +0.08 points	0.21%	0.29%
Digital Realty Trust IncDLR	MNZL +0.08 points	0.16%	0.24%
Cummins IncCMI	MNZL +0.08 points	0.16%	0.24%
Cardinal Health IncCAH	MNZL +0.08 points	0.16%	0.24%
Crh PLCCRH	MNZL +0.08 points	0.16%	0.24%
Slb LtdSLB	MNZL +0.08 points	0.19%	0.27%
Cencora IncCOR	MNZL +0.07 points	0.17%	0.24%
Corning IncGLW	MNZL +0.07 points	0.22%	0.29%
Western Digital CorpWDC	MNZL +0.07 points	0.25%	0.32%
Ecolab IncECL	MNZL +0.07 points	0.20%	0.27%
Cintas CorpCTAS	MNZL +0.07 points	0.20%	0.27%
Kimberly Clark CorpKMB	MNZL +0.07 points	0.17%	0.24%
Colgate Palmolive CoCL	MNZL +0.07 points	0.20%	0.27%
Devon Energy CorpDVN	MNZL +0.07 points	0.12%	0.19%
Air Products & Chemicals IncAPD	MNZL +0.06 points	0.18%	0.24%
Trane Technologies PLCTT	MNZL +0.06 points	0.23%	0.29%
Becton Dickinson and CoBDX	MNZL +0.06 points	0.15%	0.21%
Edwards Lifesciences CorpEW	MNZL +0.06 points	0.15%	0.21%
Agilent Technologies IncA	MNZL +0.06 points	0.13%	0.19%
Fastenal CoFAST	MNZL +0.05 points	0.16%	0.21%
SempraSRE	MNZL +0.06 points	0.13%	0.19%
Occidental Petroleum CorpOXY	MNZL +0.05 points	0.11%	0.16%
Norfolk Southern CorpNSC	MNZL +0.05 points	0.19%	0.24%
Boston Scientific CorpBSX	MNZL +0.05 points	0.16%	0.21%
Delta Air Lines IncDAL	MNZL +0.06 points	0.13%	0.19%
Ww Grainger IncGWW	MNZL +0.05 points	0.16%	0.21%
Autozone IncAZO	MNZL +0.05 points	0.14%	0.19%
Fortinet IncFTNT	MNZL +0.05 points	0.19%	0.24%
Idexx Laboratories IncIDXX	MNZL +0.05 points	0.14%	0.19%
Chipotle Mexican Grill IncCMG	MNZL +0.05 points	0.11%	0.16%
Paccar IncPCAR	MNZL +0.05 points	0.14%	0.19%
Archer Daniels Midland CoADM	MNZL +0.04 points	0.09%	0.13%
Resmed IncRMD	MNZL +0.04 points	0.09%	0.13%
Ciena CorpCIEN	MNZL +0.04 points	0.09%	0.13%
Autodesk IncADSK	MNZL +0.05 points	0.14%	0.19%
Waters CorpWAT	MNZL +0.04 points	0.12%	0.16%
United Rentals IncURI	MNZL +0.04 points	0.17%	0.21%
Nike Inc Class BNKE	MNZL +0.04 points	0.12%	0.16%
Comfort Systems Usa IncFIX	MNZL +0.04 points	0.09%	0.13%
Hp IncHPQ	MNZL +0.04 points	0.07%	0.11%
Church & Dwight Co IncCHD	MNZL +0.04 points	0.07%	0.11%
Keysight Technologies InKEYS	MNZL +0.04 points	0.12%	0.16%
Biogen IncBIIB	MNZL +0.04 points	0.09%	0.13%
Halliburton CoHAL	MNZL +0.04 points	0.07%	0.11%
United Airlines Holdings IncUAL	MNZL +0.03 points	0.10%	0.13%
Ge Healthcare TechnologyGEHC	MNZL +0.03 points	0.10%	0.13%
Baker Hughes CoBKR	MNZL +0.04 points	0.12%	0.16%
Ppg Industries IncPPG	MNZL +0.04 points	0.07%	0.11%
Estee Lauder Companies Class AEL	MNZL +0.04 points	0.07%	0.11%
Coherent CorpCOHR	MNZL +0.03 points	0.10%	0.13%
Jacobs Solutions IncJ	MNZL +0.04 points	0.04%	0.08%
Ulta Beauty IncULTA	MNZL +0.04 points	0.07%	0.11%
Quest Diagnostics IncDGX	MNZL +0.04 points	0.07%	0.11%
Wabtec CorpWAB	MNZL +0.03 points	0.13%	0.16%
Republic Services IncRSG	MNZL +0.03 points	0.13%	0.16%

All 324 EFIV holdings⁠All MNZL holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EFIV vs MNZL Cost

Overpaying MNZL vs EFIV

$5,984

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

EFIV 0.10%
$2,106
MNZL 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

EFIV 0.10%
MNZL 0.40%
Overpaying

Year by year

Year	EFIV	MNZL	Overpaying
10	$183	$723	$540
20	$717	$2,793	$2,076
30	$2,106	$8,090	$5,984

Expense ratio

0.10%EFIV, cheaper
0.40%MNZL

EFIV0.10%MNZL0.40%

0.08%0.95%

Middle half of US ESG & Values Index funds
Median 0.25%

EFIV 7th cheapest of 47 funds

MNZL 35th cheapest of 47 funds

EFIV vs MNZL Dividends

Last 12 months to Nov 9, 2026

Yield (12M): EFIV 1.03%; MNZL No data
Payout (12M): EFIV $0.74; MNZL No data
Last payment: EFIV $0.20; MNZL $0.02
Ex-dividend: EFIV Sep 21, 2026; MNZL Dec 30, 2025
Paid on: EFIV Sep 23, 2026; MNZL Dec 31, 2025
Frequency: EFIV Quarterly; MNZL Irregular

Distribution history

Per share, 2020 to 2026, same scale for both

EFIVQuarterly · 25 paymentsAll EFIV payments⁠

MNZLIrregular · 1 paymentAll MNZL payments⁠

EFIV vs MNZL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: EFIV 12.3%MNZL No data
Return per unit of riskSharpe ratio, 3 years: EFIV 1.39MNZL No data
Worst fallMax drawdown, 5 years: EFIV −24.5%MNZL No data
Market sensitivityBeta, 5 years: EFIV 1.01MNZL 1.08; Market = 1

EFIV and MNZL in the news

All news⁠

Filings Digest
AllianceBernstein's AB US Research Advanced ETF began trading on Nasdaq Monday
Oct 27, 2026EFIV
ETF Filings
SP Funds Trust files for two Shariah ETFs, U.S. Small Cap and Equity Income
Oct 12, 2026MNZL

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EFIV vs MNZL

In short

Stated mandate

Why people hold it

Worth knowing

How EFIV and MNZL differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in EFIV

Only in MNZL

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

AllianceBernstein's AB US Research Advanced ETF began trading on Nasdaq Monday

SP Funds Trust files for two Shariah ETFs, U.S. Small Cap and Equity Income

How EFIV and MNZL differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in EFIV

Only in MNZL

Weight gaps