HLAL vs VOO
Wahed FTSE USA Shariah ETF vs Vanguard S&P 500 ETF
Which is better, HLAL or VOO?
Nearly the same fund. VOO costs less.
VOO has a lower expense ratio. HLAL led over 1Y, 5Y and the full window, VOO over 3Y. The two have moved almost in lockstep, correlation 0.97. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 57.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HLAL | VOO |
|---|---|---|
| Expense Ratio | 0.50% | 0.03%Best |
| AUM | $945M | $997.4B |
| Dividend Yield | 0.46% | 1.08% |
| Holdings | 213 | 509 |
| YTD Return | +18.39%Best | +13.81% |
| 1Y Return | +29.74%Best | +21.53% |
| 3Y Return (annualized) | +19.73% | +21.46%Best |
| 5Y Return (annualized) | +13.78%Best | +12.87% |
| Volatility (annualized) | 17.9% | 16.5%Best |
| Max Drawdown | -33.6%Best | -34.3% |
| $10,000 over 5 years | $19,069Best | $18,319 |
| Top 10 Weight | 57.7% | 36.4%Best |
| Fund Family | Wahed Invest | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 15, 2019 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Jul 16, 2019 to Sep 3, 2026 (7.1 years).
HLAL vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 7.1 years both funds cover.
HLAL vs VOO Performance
Wahed FTSE USA Shariah ETF (HLAL) is an ETF from Wahed Invest and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year HLAL returned +29.74% while VOO returned +21.53%. Year to date, HLAL is up 18.39% versus a gain of 13.81% for VOO.
Over three years, HLAL compounded at +19.73% per year against +21.46% for VOO; over five years the annualized figures are +13.78% and +12.87% respectively. Across the full 7-year window we track, HLAL has the edge at +17.05% annualized vs +15.47%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HLAL has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 16.5% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.6% for HLAL and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HLAL charges 0.50% per year while VOO charges 0.03%. On a $10,000 position that is $50 vs $3 annually, a gap of $47 per year that compounds over a long holding period. On income, HLAL currently yields 0.46% against 1.08% for VOO.
Holdings Overlap
98.3% of HLAL's money is in holdings VOO also owns. 60.1% of VOO's money is in holdings HLAL also owns.
Most of HLAL is already inside VOO. Owning both mostly buys the same companies twice.
The two holdings books were reported 49 days apart, HLAL as of Aug 18, 2026 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
188 positions in common, counted across the 210 positions we hold weights for in HLAL and 505 in VOO, against full books of 213 and 509.
What only one of them owns
Our book lists 311 positions for VOO that do not appear in our book for HLAL (39.5% of the fund), and 20 for HLAL that do not appear in VOO (1.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in HLAL | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 12.79% | 7.51% | 5.28% |
| AAPLApple, Inc | 11.41% | 6.59% | 4.82% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 9.10% | 4.30% | 4.80% |
| GOOGLAlphabet Inc.Class A | 5.10% | 3.25% | 1.85% |
| AVGOBroadcom Inc | 4.50% | 2.77% | 1.73% |
| GOOGAlphabet Inc. C | 4.13% | 2.59% | 1.54% |
| METAMeta Platform Inc | 3.04% | 1.92% | 1.12% |
| MUMicron Technology, Inc. | 2.70% | 2.02% | 0.68% |
| TSLATesla Motors Inc | 2.50% | 1.84% | 0.66% |
| LLYEli Lilly & Co. | 2.45% | 1.47% | 0.98% |
98.3% of HLAL is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HLAL or VOO?
HLAL has an expense ratio of 0.50% while VOO charges 0.03%. VOO is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, HLAL or VOO?
Over the past year HLAL returned +29.74% vs +21.53% for VOO, so HLAL leads on 1-year performance. Over the longest common window we track (7 years), HLAL annualized +17.05% vs +15.47% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HLAL or VOO?
HLAL has been the more volatile fund at 17.9% annualized versus 16.5% for VOO. Worst drawdown: HLAL -33.6% vs VOO -34.3%.
Should I hold both HLAL and VOO?
HLAL and VOO have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between HLAL and VOO?
98.3% of HLAL's money is in holdings VOO also owns. 60.1% of VOO's is in holdings HLAL also owns. They hold 188 positions in common, counted across the 210 positions we hold weights for in HLAL and 505 in VOO.
Which pays a higher dividend, HLAL or VOO?
HLAL yields 0.46% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
Is VOO better than HLAL?
VOO has a lower expense ratio. HLAL led over 1Y, 5Y and the full window, VOO over 3Y. The two have moved almost in lockstep, correlation 0.97. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 57.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.