NASDAQ · ETF
Invest in HLAL ETF from India
Indian and foreign residents can buy Wahed FTSE USA Shariah ETF (HLAL) units directly through Paasa.
By Paasa · Updated
HLAL at a glance
- Price
- $74.63-$0.17 (0.23%)
- Expense ratio
- 0.5%
- Day range
- $74.46 – $75.06
- Assets
- $985.0M
- Domicile
- the US
- Holdings
- 199
- Launched
- 2019
- Dividends
- Distributing
- 1 month
- +2.73%
- 6 months
- +28.87%
- YTD
- +19.45%
- 1 year
- +26.04%
- 5 years
- +97.80%
Price change, excluding dividends.
Top 10 holdings
- 1NVIDIA Corp12.6%
- 2Apple Inc11.6%
- 3Microsoft Corp8.9%
- 4Alphabet Inc4.8%
- 5Meta Platforms Inc4.1%
- 6Broadcom Inc3.9%
- 7Alphabet Inc3.9%
- 8ExxonMobil Holdings Corp3.2%
- 9Micron Technology Inc2.9%
- 10Tesla Inc2.7%
HLAL holds 199 securities in total. These 10 are 58.6% of the fund.
Where the money is invested
Sectors
- Technology57.3%
- Communication Services13.1%
- Healthcare10.1%
- Energy4.6%
- Industrials4.6%
- Consumer Cyclical4.5%
Countries
- United States97.1%
- Ireland1.1%
- United Kingdom0.5%
- Other0.5%
- Singapore0.5%
- Netherlands0.2%
How to invest in HLAL from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search HLAL and buy
Find the fund by its ticker, HLAL, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Why invest in HLAL from India
What HLAL holds
The underlying index tracks equity shares issued by prominent large and mid-sized American corporations. These firms are selected for their adherence to Shariah law and Islamic principles, based on the interpretations of religious scholars and specialists.
Hold a dollar asset
HLAL is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one HLAL unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy HLAL from India?
Yes. Indian residents can buy Wahed FTSE USA Shariah ETF (HLAL) through Paasa. It is listed on NASDAQ and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does HLAL invest in?
Wahed FTSE USA Shariah ETF holds 199 securities. Its largest holdings are NVIDIA Corp (12.6%), Apple Inc (11.6%) and Microsoft Corp (8.9%). Technology is its largest sector at 57.3%. It is a distributing fund domiciled in the US.
What is the expense ratio of HLAL?
Wahed FTSE USA Shariah ETF has an expense ratio of 0.5% a year, taken from the fund's assets rather than billed to you. The fund manages about $985.0M.
How are HLAL dividends taxed in India?
Wahed FTSE USA Shariah ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell HLAL?
The US does not levy capital gains tax on shares for Indian residents. In India, gains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation, and gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one HLAL unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $74.63, and there is no minimum trade size.
What happens to my HLAL units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.