WSHR — Wealthsimple Shariah World Equity ETF Review
WSHR is Canada's primary halal equity ETF, offering Shariah-compliant global equity exposure on the TSX. The go-to option for Canadian investors.
Quick Answer
- 1WSHR (Wealthsimple Shariah World Equity ETF) is listed on the Toronto Stock Exchange (TSX) and provides Canadian investors with Shariah-compliant exposure to global developed-market equities in CAD.
- 2At 0.50% MER, WSHR is competitively priced for a Shariah-compliant ETF. Shariah certification is provided by Ratings Intelligence Partners, the same firm that certifies SP Funds products.
- 3WSHR is the only major TSX-listed halal ETF, making it the default choice for Canadian investors who want CAD-denominated, Shariah-compliant equity exposure without the currency conversion costs of US-listed alternatives.
01Fund Overview
WSHR is offered by Wealthsimple, Canada's largest online investment platform, as part of their halal investing initiative. The fund provides CAD-denominated exposure to global developed-market equities that pass Shariah screening.
The ETF is available through any Canadian brokerage that supports TSX-listed securities, including Wealthsimple Trade, Questrade, TD Direct Investing, RBC Direct Investing, and Interactive Brokers Canada.
With approximately $200M CAD in assets, WSHR has established meaningful liquidity for the Canadian halal investing market. It is the most accessible option for Canadian investors who want index-based halal equity exposure.
02Advantages for Canadian Investors
The primary advantage of WSHR is currency denomination. Canadian investors buying US-listed ETFs like SPUS or HLAL face CAD/USD conversion costs (typically 1.5–2.5% round-trip at most brokerages). WSHR trades in CAD, eliminating this friction.
WSHR is also eligible for registered accounts — TFSA, RRSP, RESP — with standard Canadian tax treatment. US-listed ETFs in registered accounts may face withholding tax complications on US dividends that WSHR avoids through its structure.
For tax efficiency in Canadian registered accounts, WSHR is generally preferable to US-listed halal alternatives. The combination of no currency conversion costs and simpler tax treatment makes it the practical choice for most Canadian retail investors.
03Screening Methodology and Holdings
WSHR's screening follows AAOIFI-inspired principles, certified by Ratings Intelligence Partners. The screening process excludes companies in prohibited sectors and applies standard financial ratio tests (debt-to-market-cap, cash-and-interest-to-market-cap).
Holdings span global developed markets with significant US weighting (reflecting global market capitalization). Top holdings are similar to SPUS and ISWD — major technology, healthcare, and consumer companies that pass Shariah screens.
Unlike US-listed options, WSHR includes Canadian companies that pass screening, providing home-country exposure that SPUS and HLAL cannot offer. This is particularly relevant for investors who want domestic equity representation in their halal portfolio.
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Frequently Asked Questions
Compliance classification: [ANALYSIS]
This content is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Shariah compliance assessments are based on publicly available data and established screening methodologies. They are not religious rulings (fatwas). Investors should consult a qualified Shariah scholar and a licensed financial advisor before making investment decisions.
All data is sourced from public filings and third-party providers. Compliance status is subject to change at quarterly reviews. Past performance is not indicative of future results. Halal Terminal is not a broker-dealer or investment advisor.