Over the past two decades, the financial sector has faced several major crises, calling into question the traditional way of doing finance. These crises have highlighted some approaches to hitherto marginal investment. The fundamental principles of Islamic finance, based on Muslim law, are still unknown to the general public. A simple theoretical study would obviously not suffice to affirm the viability of the Islamic model in the face of the Western conventional model. The objective of this research is to compare the models of Islamic finance and conventional finance on the basis of empirical data on the performance and risk of investment funds. According to the three main lines of analysis of the investment funds studied (management style, type of fund and geographical status), as well as the overall analysis, the results showed that Islamic finance presents better performance , A lower risk and a greater stability of the sector compared to conventional finance.