Is SoFi Select 500 ETF halal to invest in?

As of September 2026, SoFi Select 500 ETF SFY is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.

Is SoFi Select 500 ETF a Shariah-compliant ETF?

An ETF is considered Shariah-compliant if its underlying assets consist primarily of companies that operate in permissible business activities and meet Islamic financial screening thresholds. Musaffa analyzes SoFi Select 500 ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for SoFi Select 500 ETF updated?

The Shariah compliance status of SoFi Select 500 ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Can a halal ETF like SoFi Select 500 ETF become non-compliant?

Yes. An ETF that is currently Shariah-compliant may become non-compliant if its underlying holdings change or if the financial ratios of the companies within the fund exceed Shariah thresholds.

Where can I check the Shariah status of SoFi Select 500 ETF?

You can check the latest Shariah compliance status of SoFi Select 500 ETF on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

SoFi Select 500 ETF SFY

SFY Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, SoFi Select 500 ETF is classified as not halal.

NOT HALAL

Is SoFi Select 500 ETF Halal?

Shariah Compliance Analysis of SFY ETF

US Equity Large Cap

No. As of September 2026, SoFi Select 500 ETF (SFY) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. SoFi Select 500 ETF does not pass Musaffa's business and financial screening criteria.

SFY was created on 2019-04-11 by SoFi. The fund's investment portfolio concentrates primarily on large cap equity. The ETF currently has 570.02m in AUM and 504 holdings. SFY tracks a multi-factor-weighted index of US large-cap equities selected by market-cap.

SoFi Select 500 ETF (SFY) Chart

Key Statistics of SoFi Select 500 ETF (SFY)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Information Technology
37.81%
Consumer Discretionary
12.95%
Financials
12.89%
Health Care
9.16%
Industrials
6.65%
Communication Services
6.49%
Consumer Staples
4.32%
Other
3.32%
Energy
1.73%
Real Estate
1.68%
Utilities
1.54%
Materials
1.46%

FAQ's for SoFi Select 500 ETF (SFY)

As of September 2026, SoFi Select 500 ETF SFY is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.
An ETF is considered Shariah-compliant if its underlying assets consist primarily of companies that operate in permissible business activities and meet Islamic financial screening thresholds. Musaffa analyzes SoFi Select 500 ETF using these criteria to determine its compliance status.
The Shariah compliance status of SoFi Select 500 ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.
Yes. An ETF that is currently Shariah-compliant may become non-compliant if its underlying holdings change or if the financial ratios of the companies within the fund exceed Shariah thresholds.
You can check the latest Shariah compliance status of SoFi Select 500 ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.