Verdicts genuinely change. Free email alert the moment AFNIX'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.
Bahl and Gaynor Income Growth Fund · INVESTMENT MANAGERS SERIES TRUST
50 holdings
NON-COMPLIANT 36.38% of portfolio weight is in non-compliant holdings, over the 5% threshold.
50 holdings, 45 matched (93% of weight). Portfolio as of 2025-12-31, filed 2026-02-25. Source: SEC Form N-PORT.
3.05% of this portfolio’s income is non-permissible — weighted across holdings, computed over 87% of portfolio weight (43 of 50 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.
51.9% compliant 4.6% questionable 36.3% non-compliant 7.2% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| LLY Eli Lilly & Co | COMPLIANT | 5.66% | AAOIFI5.2% Usmani38.6% Dow Jones Islamic6.4% S&P Shariah6.9% MSCI Islamic38.6% MSCI Islamic M-Series6.9% FTSE Shariah38.6% |
| JNJ Johnson & Johnson | COMPLIANT | 5.28% | AAOIFI7.6% Usmani24.4% Dow Jones Islamic10.9% S&P Shariah11.7% MSCI Islamic24.4% MSCI Islamic M-Series11.7% FTSE Shariah24.4% |
| AVGO Broadcom Inc | COMPLIANT | 5.12% | AAOIFI3.8% Usmani32.5% Dow Jones Islamic4.4% S&P Shariah5.5% MSCI Islamic32.5% MSCI Islamic M-Series5.5% FTSE Shariah32.5% |
| ABBV AbbVie Inc | COMPLIANT | 4.63% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| MSFT Microsoft Corp | QUESTIONABLE | 4.57% | AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3% |
| TRV Travelers Cos Inc/The | NON_COMPLIANT | 3.58% | AAOIFI11.8% Usmani6.3% Dow Jones Islamic14.9% S&P Shariah16.4% MSCI Islamic6.3% MSCI Islamic M-Series16.4% FTSE Shariah6.3% |
| JPM JPMorgan Chase & Co | NON_COMPLIANT | 3.22% | AAOIFI7.7% Usmani1.4% Dow Jones Islamic9.5% S&P Shariah10.7% MSCI Islamic1.4% MSCI Islamic M-Series10.7% FTSE Shariah1.4% |
| WMB Williams Cos Inc/The | NON_COMPLIANT | 2.94% | AAOIFI35.0% Usmani50.0% Dow Jones Islamic41.0% S&P Shariah47.9% MSCI Islamic50.0% MSCI Islamic M-Series47.9% FTSE Shariah50.0% |
| PG Procter & Gamble Co/The | COMPLIANT | 2.92% | AAOIFI8.9% Usmani23.9% Dow Jones Islamic8.5% S&P Shariah8.5% MSCI Islamic23.9% MSCI Islamic M-Series8.5% FTSE Shariah23.2% |
| NEE NextEra Energy Inc | NON_COMPLIANT | 2.78% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| MCD McDonald's Corp | NON_COMPLIANT | 2.68% | AAOIFI29.7% Usmani91.1% Dow Jones Islamic26.3% S&P Shariah27.2% MSCI Islamic91.1% MSCI Islamic M-Series27.2% FTSE Shariah66.5% |
| MDLZ Mondelez International Inc | COMPLIANT | 2.53% | AAOIFI24.4% Usmani27.5% Dow Jones Islamic24.3% S&P Shariah23.4% MSCI Islamic26.9% MSCI Islamic M-Series23.4% FTSE Shariah25.8% |
| TSM TSMC | COMPLIANT | 2.42% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| HD Home Depot Inc/The | COMPLIANT | 2.16% | AAOIFI18.6% Usmani56.1% Dow Jones Islamic16.3% S&P Shariah17.0% MSCI Islamic53.3% MSCI Islamic M-Series17.0% FTSE Shariah44.5% |
| CVX Chevron Corp | COMPLIANT | 2.16% | AAOIFI0.1% Usmani0.1% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.1% MSCI Islamic M-Series0.1% FTSE Shariah0.1% |
| XOM Exxon Mobil Corp | COMPLIANT | 2.08% | AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1% |
| PNC Financial Services Group I | UNSCREENED | 2.05% | no in-house ratios for this holding |
| GD General Dynamics Corp | NON_COMPLIANT | 2.03% | AAOIFI10.3% Usmani17.4% Dow Jones Islamic11.7% S&P Shariah12.4% MSCI Islamic16.8% MSCI Islamic M-Series12.4% FTSE Shariah13.7% |
| Fidelity Treasury Portfolio | UNSCREENED | 2.03% | no in-house ratios for this holding |
| ADP Automatic Data Processing Inc | COMPLIANT | 1.88% | AAOIFI5.0% Usmani8.5% Dow Jones Islamic5.0% S&P Shariah5.2% MSCI Islamic8.5% MSCI Islamic M-Series5.2% FTSE Shariah7.9% |
| TEL TE Connectivity PLC | COMPLIANT | 1.84% | AAOIFI9.5% Usmani21.6% Dow Jones Islamic10.3% S&P Shariah11.2% MSCI Islamic21.6% MSCI Islamic M-Series11.2% FTSE Shariah21.6% |
| ACN Accenture PLC | COMPLIANT | 1.83% | AAOIFI7.7% Usmani12.2% Dow Jones Islamic5.0% S&P Shariah4.7% MSCI Islamic12.2% MSCI Islamic M-Series4.7% FTSE Shariah7.5% |
| VICI VICI Properties Inc | NON_COMPLIANT | 1.82% | AAOIFI57.8% Usmani35.1% Dow Jones Islamic55.7% S&P Shariah58.1% MSCI Islamic35.1% MSCI Islamic M-Series58.1% FTSE Shariah35.1% |
| ETN Eaton Corp PLC | COMPLIANT | 1.80% | AAOIFI13.4% Usmani38.0% Dow Jones Islamic15.6% S&P Shariah16.9% MSCI Islamic38.0% MSCI Islamic M-Series16.9% FTSE Shariah36.7% |
| CSCO Cisco Systems Inc | COMPLIANT | 1.76% | AAOIFI5.7% Usmani18.9% Dow Jones Islamic8.4% S&P Shariah9.5% MSCI Islamic18.9% MSCI Islamic M-Series9.5% FTSE Shariah17.6% |
| Hartford Insurance Group Inc/T | UNSCREENED | 1.75% | no in-house ratios for this holding |
| PPL PPL Corp | NON_COMPLIANT | 1.70% | AAOIFI77.2% Usmani43.2% Dow Jones Islamic78.6% S&P Shariah86.6% MSCI Islamic43.2% MSCI Islamic M-Series86.6% FTSE Shariah43.2% |
| UNH UnitedHealth Group Inc | NON_COMPLIANT | 1.68% | AAOIFI20.4% Usmani23.7% Dow Jones Islamic20.4% S&P Shariah18.8% MSCI Islamic23.7% MSCI Islamic M-Series18.8% FTSE Shariah23.7% |
| SRE Sempra | NON_COMPLIANT | 1.68% | AAOIFI65.2% Usmani32.7% Dow Jones Islamic66.4% S&P Shariah71.2% MSCI Islamic31.6% MSCI Islamic M-Series71.2% FTSE Shariah30.4% |
| AVB AvalonBay Communities Inc | NON_COMPLIANT | 1.56% | AAOIFIfail Usmanifail Dow Jones Islamic— S&P Shariah— MSCI Islamicfail MSCI Islamic M-Series— FTSE Shariahfail |
| LMT Lockheed Martin Corp | NON_COMPLIANT | 1.55% | AAOIFI16.6% Usmani32.9% Dow Jones Islamic17.6% S&P Shariah18.2% MSCI Islamic32.9% MSCI Islamic M-Series18.2% FTSE Shariah32.9% |
| CME CME Group Inc | NON_COMPLIANT | 1.53% | AAOIFI0.4% Usmani0.2% Dow Jones Islamic2.3% S&P Shariah2.5% MSCI Islamic0.2% MSCI Islamic M-Series2.5% FTSE Shariah0.0% |
| PEP PepsiCo Inc | COMPLIANT | 1.37% | AAOIFI23.4% Usmani39.4% Dow Jones Islamic22.7% S&P Shariah22.0% MSCI Islamic39.4% MSCI Islamic M-Series22.0% FTSE Shariah39.4% |
| WEC WEC Energy Group Inc | NON_COMPLIANT | 1.36% | AAOIFI57.5% Usmani39.9% Dow Jones Islamic61.9% S&P Shariah68.5% MSCI Islamic39.1% MSCI Islamic M-Series68.5% FTSE Shariah39.1% |
| PAYX Paychex Inc | COMPLIANT | 1.28% | AAOIFI13.2% Usmani29.6% Dow Jones Islamic10.7% S&P Shariah11.0% MSCI Islamic29.6% MSCI Islamic M-Series11.0% FTSE Shariah29.1% |
| GLW Corning Inc | COMPLIANT | 1.28% | AAOIFI7.0% Usmani32.5% Dow Jones Islamic12.8% S&P Shariah16.4% MSCI Islamic31.8% MSCI Islamic M-Series16.4% FTSE Shariah28.7% |
| MRSH Marsh & McLennan Cos Inc | NON_COMPLIANT | 1.28% | AAOIFI24.1% Usmani35.8% Dow Jones Islamic22.1% S&P Shariah22.2% MSCI Islamic35.8% MSCI Islamic M-Series22.2% FTSE Shariah32.7% |
| TRGP Targa Resources Corp | NON_COMPLIANT | 1.19% | AAOIFI31.5% Usmani71.4% Dow Jones Islamic46.4% S&P Shariah55.1% MSCI Islamic68.7% MSCI Islamic M-Series55.1% FTSE Shariah68.7% |
| ITW Illinois Tool Works Inc | COMPLIANT | 1.13% | AAOIFI12.7% Usmani58.8% Dow Jones Islamic13.1% S&P Shariah13.4% MSCI Islamic58.8% MSCI Islamic M-Series13.4% FTSE Shariah58.8% |
| RTX RTX Corp | NON_COMPLIANT | 1.06% | AAOIFI12.5% Usmani19.3% Dow Jones Islamic15.9% S&P Shariah18.5% MSCI Islamic19.3% MSCI Islamic M-Series18.5% FTSE Shariah18.4% |
| APO Apollo Global Management Inc | NON_COMPLIANT | 1.06% | AAOIFI17.4% Usmani2.8% Dow Jones Islamic17.8% S&P Shariah19.6% MSCI Islamic2.8% MSCI Islamic M-Series19.6% FTSE Shariah2.8% |
| KMI Kinder Morgan Inc | NON_COMPLIANT | 0.92% | AAOIFI46.1% Usmani43.5% Dow Jones Islamic53.0% S&P Shariah61.2% MSCI Islamic43.5% MSCI Islamic M-Series61.2% FTSE Shariah43.5% |
| DRI Darden Restaurants Inc | NON_COMPLIANT | 0.75% | AAOIFI25.3% Usmani62.3% Dow Jones Islamic28.6% S&P Shariah30.9% MSCI Islamic48.7% MSCI Islamic M-Series30.9% FTSE Shariah18.1% |
| ONEOK Inc | UNSCREENED | 0.75% | no in-house ratios for this holding |
| Philip Morris International In | UNSCREENED | 0.68% | no in-house ratios for this holding |
| UNP Union Pacific Corp | COMPLIANT | 0.65% | AAOIFI18.2% Usmani43.8% Dow Jones Islamic22.0% S&P Shariah22.4% MSCI Islamic43.8% MSCI Islamic M-Series22.4% FTSE Shariah42.6% |
| FAST Fastenal Co | COMPLIANT | 0.61% | AAOIFI0.8% Usmani8.3% Dow Jones Islamic0.9% S&P Shariah1.0% MSCI Islamic8.3% MSCI Islamic M-Series1.0% FTSE Shariah2.3% |
| TXN Texas Instruments Inc | COMPLIANT | 0.60% | AAOIFI5.9% Usmani39.2% Dow Jones Islamic7.6% S&P Shariah8.1% MSCI Islamic39.2% MSCI Islamic M-Series8.1% FTSE Shariah39.2% |
| LIN Linde PLC | COMPLIANT | 0.51% | AAOIFI13.0% Usmani31.7% Dow Jones Islamic13.0% S&P Shariah13.4% MSCI Islamic31.7% MSCI Islamic M-Series13.4% FTSE Shariah31.7% |
| GRMN Garmin Ltd | COMPLIANT | 0.49% | AAOIFI0.3% Usmani1.5% Dow Jones Islamic0.4% S&P Shariah0.5% MSCI Islamic1.5% MSCI Islamic M-Series0.5% FTSE Shariah0.0% |
The published standards disagree about this fund by 25 points of portfolio weight — 67.6% of it passes AAOIFI, 42.3% 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 67.6% ratios fail on 25.3% 7.3% not rated under AAOIFI
ratios pass on 44.1% ratios fail on 48.8% 7.3% not rated under Usmani
ratios pass on 67.6% ratios fail on 23.8% 8.8% not rated under Dow Jones Islamic
ratios pass on 67.6% ratios fail on 23.8% 8.8% not rated under S&P Shariah
ratios pass on 42.3% ratios fail on 50.6% 7.3% not rated under MSCI Islamic
ratios pass on 67.6% ratios fail on 23.8% 8.8% not rated under MSCI Islamic M-Series
ratios pass on 46.2% ratios fail on 46.8% 7.3% not rated under FTSE Shariah
45 of 50 listed holdings carry our own per-methodology verdicts (93% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 43 (87% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| TRV Travelers Cos Inc/The | 3.58% |
| JPM JPMorgan Chase & Co | 3.22% |
| WMB Williams Cos Inc/The | 2.94% |
| NEE NextEra Energy Inc | 2.78% |
| MCD McDonald's Corp | 2.68% |
| GD General Dynamics Corp | 2.03% |
| VICI VICI Properties Inc | 1.82% |
| PPL PPL Corp | 1.70% |
| UNH UnitedHealth Group Inc | 1.68% |
| SRE Sempra | 1.68% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Bahl and Gaynor Income Growth Fund (AFNIX) 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 |
|---|---|---|
| LLYEli Lilly & Co | 5.66% | Compliant |
| JNJJohnson & Johnson | 5.28% | Compliant |
| AVGOBroadcom Inc | 5.12% | Compliant |
| ABBVAbbVie Inc | 4.63% | Compliant |
| MSFTMicrosoft Corp | 4.57% | Questionable |
| TRVTravelers Cos Inc/The | 3.58% | Non-compliant |
| JPMJPMorgan Chase & Co | 3.22% | Non-compliant |
| WMBWilliams Cos Inc/The | 2.94% | Non-compliant |
| PGProcter & Gamble Co/The | 2.92% | Compliant |
| NEENextEra Energy Inc | 2.78% | Non-compliant |
Top 10 of 50 holdings, 40.7% 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 AFNIX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
Tracked since 2026-09-07.
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.