Verdicts genuinely change. Free email alert the moment AFAIX's does — no target price to set, unlike "Alert" above.
Whether this fund clears the published standards, and the filings behind that answer. The screen runs first and nothing on the trading side can override it.
Structure, momentum, positioning and levels. Separate from the Sharia verdict above, which this side never overrides.
Alger International Small Cap Fund · ALGER FUNDS
48 holdings
NON-COMPLIANT 34.11% of portfolio weight is in non-compliant holdings, over the 5% threshold.
2.01% of that is conventional interest-bearing debt, identified from the fund's own filing rather than by screening an issuer. Sukuk are deliberately excluded from this test and are never counted here.
48 holdings, 46 matched (95% of weight). Portfolio as of 2026-07-31, filed 2026-09-25. Source: SEC Form N-PORT.
6.14% of this portfolio’s income is non-permissible — weighted across holdings, computed over 85% of portfolio weight (40 of 48 holdings). The common approach purifies that proportion of income received — dividends — not of the position’s value. We report the ratio; what to do with it is a question for your own scholar.
61.3% compliant 0.0% questionable 34.0% non-compliant 4.7% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| DPLM.L DIPLOMA PLC | COMPLIANT | 3.73% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| EMBJ3.SA EMBRAER - EMPRESA BRASILEIRA DE AERONAUTICA SA | NON_COMPLIANT | 3.23% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 8341.T 77 BANK LTD (THE) | NON_COMPLIANT | 3.16% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MTO.L MITIE GROUP PLC | COMPLIANT | 3.03% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahpass |
| GNC.L GREENCORE GROUP PLC | COMPLIANT | 2.95% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| TNIE.F TONIES SE | COMPLIANT | 2.86% | AAOIFI3.0% Usmani6.6% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic5.8% MSCI Islamic M-Seriespass FTSE Shariah5.8% |
| ALK-B.CO ALK ABELLO A/S | COMPLIANT | 2.83% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| GTT.PA GAZTRANSPORT ET TECHNIGAZ SA | COMPLIANT | 2.75% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 7453.T RYOHIN KEIKAKU COMPANY LTD | COMPLIANT | 2.72% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| LTMC.MI LOTTOMATICA GROUP SPA | NON_COMPLIANT | 2.66% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| JAPAN ELEVATOR SERVICE HOLDINGS CO LTD | UNSCREENED | 2.64% | no in-house ratios for this holding |
| BGN.MI BANCA GENERALI SPA | NON_COMPLIANT | 2.56% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| FAGR.BR FAGRON NV | COMPLIANT | 2.43% | AAOIFIpass Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BEAN.SW BELIMO HOLDING AG | COMPLIANT | 2.41% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| GAW.L GAMES WORKSHOP GROUP PLC | COMPLIANT | 2.34% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| ACT.DE ALZCHEM GROUP AG | COMPLIANT | 2.29% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| DSGX DESCARTES SYSTEMS GROUP INC (THE) | COMPLIANT | 2.26% | AAOIFI0.1% Usmani0.4% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.4% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| 5805.T SWCC CORP | COMPLIANT | 2.19% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| TGYM.MI TECHNOGYM SPA | COMPLIANT | 2.09% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 6368.T ORGANO CORP | COMPLIANT | 2.08% | AAOIFI6.0% Usmani15.3% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic15.3% MSCI Islamic M-Seriespass FTSE Shariah15.3% |
| 2875.T TOYO SUISAN KAISHA LTD | COMPLIANT | 2.06% | AAOIFI0.3% Usmani0.9% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.5% MSCI Islamic M-Seriespass FTSE Shariah0.5% |
| TEL AVIV STOCK EXCHANGE LTD (THE) | UNSCREENED | 2.05% | no in-house ratios for this holding |
| BGEO.L LION FINANCE GROUP PLC | NON_COMPLIANT | 2.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| EFN.TO ELEMENT FLEET MANAGEMENT CORP | NON_COMPLIANT | 2.03% | AAOIFI129.7% Usmani69.7% Dow Jones Islamic— S&P Shariah— MSCI Islamic69.7% MSCI Islamic M-Series— FTSE Shariah69.7% |
| LAGR-B.ST LAGERCRANTZ GROUP AB | COMPLIANT | 2.03% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| Dreyfus Treasury Obligations Cash Management | NON_COMPLIANT | 2.01% | no in-house ratios for this holding |
| 1417.T MIRAIT ONE CORP | NON_COMPLIANT | 1.99% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| EXA.PA EXAIL TECHNOLOGIES SA | COMPLIANT | 1.99% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 4536.T SANTEN PHARMACEUTICAL COMPANY LTD | COMPLIANT | 1.97% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| CDA.AX CODAN LTD | COMPLIANT | 1.96% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| TATT TAT TECHNOLOGIES LTD | UNRATED | 1.94% | AAOIFI3.4% Usmani7.8% Dow Jones Islamic4.3% S&P Shariah5.7% MSCI Islamic7.8% MSCI Islamic M-Series5.7% FTSE Shariah5.2% |
| 6754.T ANRITSU CORP | COMPLIANT | 1.93% | AAOIFI0.9% Usmani2.1% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic2.1% MSCI Islamic M-Seriespass FTSE Shariah2.1% |
| SIMO SILICON MOTION TECHNOLOGY CORP | COMPLIANT | 1.90% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| NXSN.TA NEXT VISION STABILIZED SYS LTD | NON_COMPLIANT | 1.89% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MRX MAREX GROUP LTD | NON_COMPLIANT | 1.87% | AAOIFI3.6% Usmani0.6% Dow Jones Islamic6.9% S&P Shariahfail MSCI Islamic0.6% MSCI Islamic M-Seriesfail FTSE Shariah0.6% |
| R3NK.F RENK GROUP AG | NON_COMPLIANT | 1.86% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CPX.TO CAPITAL POWER CORP | NON_COMPLIANT | 1.84% | AAOIFI70.2% Usmani45.6% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic44.6% MSCI Islamic M-Seriesfail FTSE Shariah44.6% |
| SAVE.ST NORDNET AB | NON_COMPLIANT | 1.76% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 3923.T RAKUS CO LTD | COMPLIANT | 1.60% | AAOIFI0.0% Usmani0.0% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.0% MSCI Islamic M-Seriespass FTSE Shariah0.0% |
| VH2.DE FRIEDRICH VORWERK GROUP SE | COMPLIANT | 1.59% | AAOIFI1.3% Usmani3.8% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic3.1% MSCI Islamic M-Seriespass FTSE Shariah3.1% |
| 5706.T MITSUI KINZOKU CO LTD | COMPLIANT | 1.45% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 6315.T TOWA CORP | COMPLIANT | 1.35% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| SRC.L SIGMAROC PLC | NON_COMPLIANT | 1.26% | AAOIFI44.8% Usmani30.8% Dow Jones Islamic— S&P Shariah— MSCI Islamic28.2% MSCI Islamic M-Series— FTSE Shariah28.2% |
| BKT.MC BANKINTER SA | NON_COMPLIANT | 1.17% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| DOO.TO BRP INC | NON_COMPLIANT | 0.99% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MAIRE.MI MAIRE SPA | NON_COMPLIANT | 0.94% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahpass |
| SLX.AX SILEX SYSTEMS LTD | NON_COMPLIANT | 0.84% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ELG.DE ELMOS SEMICONDUCTOR SE | COMPLIANT | 0.83% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
The published standards disagree about this fund by 29 points of portfolio weight — 59.3% of it passes AAOIFI, 30.1% passes MSCI Islamic. Which number is yours depends on which standard you follow.
These bars are the financial-ratio result under each standard — debt, receivables and interest income. They do not screen what the business does, so a holding can pass every ratio here and still be questionable or non-compliant on activity. The blended verdict above accounts for both.
ratios pass on 59.3% ratios fail on 32.1% 9.0% not rated under AAOIFI
ratios pass on 45.4% ratios fail on 44.8% 10.2% not rated under Usmani
ratios pass on 53.8% ratios fail on 34.3% 12.2% not rated under Dow Jones Islamic
ratios pass on 51.9% ratios fail on 36.3% 12.2% not rated under S&P Shariah
ratios pass on 30.1% ratios fail on 60.0% 10.2% not rated under MSCI Islamic
ratios pass on 51.9% ratios fail on 36.3% 12.2% not rated under MSCI Islamic M-Series
ratios pass on 46.1% ratios fail on 44.0% 10.2% not rated under FTSE Shariah
45 of 48 listed holdings carry our own per-methodology verdicts (94% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 12 (23% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| EMBJ3.SA EMBRAER - EMPRESA BRASILEIRA DE AERONAUTICA SA | 3.23% |
| 8341.T 77 BANK LTD (THE) | 3.16% |
| LTMC.MI LOTTOMATICA GROUP SPA | 2.66% |
| BGN.MI BANCA GENERALI SPA | 2.56% |
| BGEO.L LION FINANCE GROUP PLC | 2.04% |
| EFN.TO ELEMENT FLEET MANAGEMENT CORP | 2.03% |
| Dreyfus Treasury Obligations Cash Management | 2.01% |
| 1417.T MIRAIT ONE CORP | 1.99% |
| NXSN.TA NEXT VISION STABILIZED SYS LTD | 1.89% |
| MRX MAREX GROUP LTD | 1.87% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Alger International Small Cap Fund (AFAIX) is currently considered not halal (non-compliant), per our own look-through to its filed holdings. See its filed holdings and the weight breakdown below for the reasoning.
HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A holding it cannot cover far enough is reported as unrated rather than counted as a pass.
| Holding | Weight | Verdict |
|---|---|---|
| DPLM.LDIPLOMA PLC | 3.73% | Compliant |
| EMBJ3.SAEMBRAER - EMPRESA BRASILEIRA DE AERONAUTICA SA | 3.23% | Non-compliant |
| 8341.T77 BANK LTD (THE) | 3.16% | Non-compliant |
| MTO.LMITIE GROUP PLC | 3.03% | Compliant |
| GNC.LGREENCORE GROUP PLC | 2.95% | Compliant |
| TNIE.FTONIES SE | 2.86% | Compliant |
| ALK-B.COALK ABELLO A/S | 2.83% | Compliant |
| GTT.PAGAZTRANSPORT ET TECHNIGAZ SA | 2.75% | Compliant |
| 7453.TRYOHIN KEIKAKU COMPANY LTD | 2.72% | Compliant |
| LTMC.MILOTTOMATICA GROUP SPA | 2.66% | Non-compliant |
Top 10 of 48 holdings, 29.9% of the fund by weight. Every holding is screened, not only these.
The positions keeping this fund short of 100% compliant by weight.
Verdict history for AFAIX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
Tracked since 2026-09-07.
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
This fund prices once a day, so its bars carry no intraday high or low — floor-trader pivots are not defined for it.
The range is measured volatility (ATR over the horizon), not a target — a wider band means a more volatile asset, not a stronger view. The direction is the indicator tally below. Every forecast is recorded when made and scored against the real price when it comes due, including the wrong ones. Not a recommendation, and not a fatwa.
Standard indicator thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20, MACD histogram sign, price vs. average) computed on daily bars. A summary of what common indicators say — not a recommendation, and not this site's own trading verdict.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 44.80 | NEUTRAL |
| Stochastic %K (14) | 33.33 | NEUTRAL |
| CCI (20) | -68.97 | NEUTRAL |
| Williams %R (14) | -66.67 | NEUTRAL |
| MACD (12,26,9) | -0.01 | SELL |
| ROC (10) | -0.98 | SELL |
| Momentum (10) | -0.10 | SELL |
| EMA (10) | 10.13 | SELL |
| SMA (10) | 10.14 | SELL |
| EMA (20) | 10.17 | SELL |
| SMA (20) | 10.17 | SELL |
| EMA (30) | 10.20 | SELL |
| SMA (30) | 10.20 | SELL |
| EMA (50) | 10.24 | SELL |
| SMA (50) | 10.29 | SELL |
| EMA (100) | 10.27 | SELL |
| SMA (100) | 10.36 | SELL |
| EMA (200) | 10.15 | SELL |
| SMA (200) | 10.22 | SELL |
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
The questions worth asking about any verdict on this page, answered plainly.
No. HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A fund marketed as Islamic still gets the same look-through as any other.
It is the share of the fund whose holdings HTR cannot cover far enough to rate. It is reported as unrated rather than counted as compliant, because a holding nobody screened should not look like one that passed.
It matters, and it is noted, but it does not replace the look-through. The board's judgement and the holdings screen are shown separately so you can see when they agree and when they do not.
When the fund files new holdings, and on a rolling basis besides. The date on the verdict above is the last time this fund was actually recomputed.
Open research, not a fatwa. HTR applies published screening standards to filings and publishes what they say, including when they disagree. Nothing here is financial advice or a recommendation to buy or sell. Verdicts can change when new filings land.
Same screen, different answers. Comparison is where the standards disagreeing becomes useful rather than confusing.
Peer screening computing — it will appear here on its own.
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.