MNZL

About MNZL

The Manzil Russell Halal USA Broad Market ETF is an exchange-traded fund designed to provide investors with broad exposure to large-capitalization U.S. equities while adhering to Shariah-compliant investment principles. This ETF tracks the performance of the Russell IdealRatings Manzil Halal USA Broad Market Custom Index, which is constructed by screening the Russell 1000® Index—the largest U.S. companies by market capitalization—for compliance with Islamic investment guidelines using the Russell IdealRatings system. The fund uses a passive indexing approach, aiming to replicate the total return of its benchmark index before fees and expenses. Notably, the ETF excludes companies that do not meet specific Shariah standards, impacting sectors and business activities such as conventional banking, alcohol, gambling, and other impermissible industries. By focusing on Shariah-compliant firms, the ETF serves the needs of investors seeking alignment with Islamic ethical and financial criteria while maintaining diversified access to the U.S. equity market. The fund typically distributes dividends and realized capital gains annually and is structured to allow creation and redemption of shares in large institutional blocks. Its role in the market is significant for those seeking both faith-based investment solutions and broad U.S. equity exposure within a transparent, regulated ETF structure.