AIEMXETF / Fund
Verdicts genuinely change. Free email alert the moment AIEMX'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 EMERGING MARKETS FUND · ALGER FUNDS II
41 holdings
This fund holds short positions, so exposure is counted gross — long and short both count as exposure rather than netting off, and the weights below therefore sum to 101% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 35.86% of portfolio weight is in non-compliant holdings, over the 5% threshold.
2.41% 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.
41 holdings, 37 matched (92% of weight). Portfolio as of 2026-07-31, filed 2026-09-25. Source: SEC Form N-PORT.
6.75% of this portfolio’s income is non-permissible — weighted across holdings, computed over 79% of portfolio weight (31 of 41 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.
54.0% compliant 2.5% questionable 35.6% non-compliant 7.9% unscreened
All holdings (41)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | COMPLIANT | 15.02% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| 005930.KS SAMSUNG ELECTRONICS CO LTD | COMPLIANT | 7.53% | AAOIFI1.4% Usmani5.3% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic4.5% MSCI Islamic M-Seriespass FTSE Shariah4.5% |
| 0700.HK TENCENT HOLDINGS LTD | COMPLIANT | 4.63% | AAOIFIpass Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| 402340.KS SK SQUARE CO LTD | COMPLIANT | 3.69% | AAOIFI0.1% Usmani0.7% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.4% MSCI Islamic M-Seriespass FTSE Shariah0.4% |
| BAP CREDICORP LTD | NON_COMPLIANT | 3.20% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| INTERNATIONAL CONTAINER TERMINAL SERVICES INC | UNSCREENED | 3.10% | no in-house ratios for this holding |
| OTP.BD OTP BANK NYRT | NON_COMPLIANT | 3.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| TVSMOTOR.BO TVS MOTOR CO LTD | NON_COMPLIANT | 2.67% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| PSMT PRICESMART INC | QUESTIONABLE | 2.47% | AAOIFI6.1% Usmani12.8% Dow Jones Islamic8.3% S&P Shariah9.5% MSCI Islamic12.8% MSCI Islamic M-Series9.5% FTSE Shariah7.1% |
| 2308.TW DELTA ELECTRONICS INC | COMPLIANT | 2.47% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 300750.SZ CONTEMPORARY AMPEREX TECHNOLOGY CO LTD | COMPLIANT | 2.44% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 016360.KS SAMSUNG SECURITIES COMPANY LTD | NON_COMPLIANT | 2.43% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Dreyfus Treasury Obligations Cash Management | NON_COMPLIANT | 2.41% | no in-house ratios for this holding |
| 000660.KS SK HYNIX INC | COMPLIANT | 2.31% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 2338.HK WEICHAI POWER CO LTD | NON_COMPLIANT | 2.29% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| PCO.WA PEPCO GROUP NV | NON_COMPLIANT | 2.27% | AAOIFI31.5% Usmani90.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic55.7% MSCI Islamic M-Seriesfail FTSE Shariah55.7% |
| LAUR LAUREATE EDUCATION INC | COMPLIANT | 2.25% | AAOIFI14.5% Usmani30.3% Dow Jones Islamic18.8% S&P Shariah22.0% MSCI Islamic30.3% MSCI Islamic M-Series22.0% FTSE Shariah9.2% |
| ETE.AT NATIONAL BANK OF GREECE SA | NON_COMPLIANT | 2.19% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | COMPLIANT | 2.05% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| BEL.NS BHARAT ELECTRONICS LTD | NON_COMPLIANT | 1.99% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CAMBRICON TECHNOLOGIES CORP LTD | UNSCREENED | 1.97% | no in-house ratios for this holding |
| NU NU HOLDINGS LTD | NON_COMPLIANT | 1.89% | AAOIFI2.5% Usmani3.5% Dow Jones Islamic2.6% S&P Shariah2.8% MSCI Islamic3.5% MSCI Islamic M-Series2.8% FTSE Shariah3.5% |
| BABA ALIBABA GROUP HOLDING LTD | COMPLIANT | 1.82% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| CAPITEC BANK HOLDINGS LTD | UNSCREENED | 1.80% | no in-house ratios for this holding |
| EMBJ3.SA EMBRAER - EMPRESA BRASILEIRA DE AERONAUTICA SA | NON_COMPLIANT | 1.73% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MTLN.AT METLEN ENERGY & METALS PLC | NON_COMPLIANT | 1.71% | AAOIFI73.5% Usmani46.5% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic44.5% MSCI Islamic M-Seriesfail FTSE Shariah44.5% |
| AC.MX ARCA CONTINENTAL SAB DE CV | COMPLIANT | 1.64% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| GENTERA.MX GENTERA SAB DE CV | NON_COMPLIANT | 1.62% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 267260.KS HD HYUNDAI ELECTRIC CO LTD | COMPLIANT | 1.56% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| BAJFINANCE.NS BAJAJ FINANCE LTD | NON_COMPLIANT | 1.54% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CAAP CORPORACION AMERICA AIRPORTS SA | COMPLIANT | 1.44% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| ASELS.IS ASELSAN ELEKTRONIK SANAYI VE TICARET AS | NON_COMPLIANT | 1.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MCX.NS MULTI COMMODITY EXCHANGE OF INDIA LTD | NON_COMPLIANT | 1.27% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GODREJPROP.NS GODREJ PROPERTIES LTD | NON_COMPLIANT | 1.26% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ORVR3.SA ORIZON VALORIZACAO DE RESIDUOS SA | COMPLIANT | 1.24% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 002371.SZ NAURA TECHNOLOGY GROUP CO LTD | COMPLIANT | 1.20% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 300308.SZ ZHONGJI INNOLIGHT CO LTD | COMPLIANT | 1.17% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| MELI MERCADOLIBRE INC | COMPLIANT | 1.15% | AAOIFI20.1% Usmani38.5% Dow Jones Islamic19.0% S&P Shariah20.6% MSCI Islamic38.3% MSCI Islamic M-Series20.6% FTSE Shariah33.3% |
| RAIA DROGASIL SA | UNSCREENED | 1.12% | no in-house ratios for this holding |
| 012450.KS HANWHA AEROSPACE CO LTD | NON_COMPLIANT | 1.06% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 600276.SS JIANGSU HENGRUI PHARMACEUTICALS CO LTD | COMPLIANT | 0.74% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
The published standards disagree about this fund by 30 points of portfolio weight — 53.5% of it passes AAOIFI, 23.4% 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 53.5% ratios fail on 35.3% 11.8% not rated under AAOIFI
ratios pass on 28.6% ratios fail on 52.6% 19.4% not rated under Usmani
ratios pass on 48.9% ratios fail on 33.4% 18.3% not rated under Dow Jones Islamic
ratios pass on 47.7% ratios fail on 34.7% 18.3% not rated under S&P Shariah
ratios pass on 23.4% ratios fail on 57.8% 19.4% not rated under MSCI Islamic
ratios pass on 47.7% ratios fail on 34.7% 18.3% not rated under MSCI Islamic M-Series
ratios pass on 28.6% ratios fail on 52.6% 19.4% not rated under FTSE Shariah
35 of 41 listed holdings carry our own per-methodology verdicts (90% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 10 (42% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| BAP CREDICORP LTD | 3.20% |
| OTP.BD OTP BANK NYRT | 3.04% |
| TVSMOTOR.BO TVS MOTOR CO LTD | 2.67% |
| 016360.KS SAMSUNG SECURITIES COMPANY LTD | 2.43% |
| Dreyfus Treasury Obligations Cash Management | 2.41% |
| 2338.HK WEICHAI POWER CO LTD | 2.29% |
| PCO.WA PEPCO GROUP NV | 2.27% |
| ETE.AT NATIONAL BANK OF GREECE SA | 2.19% |
| BEL.NS BHARAT ELECTRONICS LTD | 1.99% |
| NU NU HOLDINGS LTD | 1.89% |
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
AIEMX 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.
Screened on its holdings, not its name
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 |
|---|---|---|
| TSMTAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 15.02% | Compliant |
| 005930.KSSAMSUNG ELECTRONICS CO LTD | 7.53% | Compliant |
| 0700.HKTENCENT HOLDINGS LTD | 4.63% | Compliant |
| 402340.KSSK SQUARE CO LTD | 3.69% | Compliant |
| BAPCREDICORP LTD | 3.20% | Non-compliant |
| INTERNATIONAL CONTAINER TERMINAL SERVICES INCnot matched to a ticker | 3.10% | Not screened |
| OTP.BDOTP BANK NYRT | 3.04% | Non-compliant |
| TVSMOTOR.BOTVS MOTOR CO LTD | 2.67% | Non-compliant |
| PSMTPRICESMART INC | 2.47% | Questionable |
| 2308.TWDELTA ELECTRONICS INC | 2.47% | Compliant |
Top 10 of 41 holdings, 47.8% of the fund by weight. Every holding is screened, not only these.
What holds the number back
The positions keeping this fund short of 100% compliant by weight.
- BAPnon-compliant3.20%
- INTERNATIONAL CONTAINER TERMINAL SERVICES INCnot screened3.10%
- OTP.BDnon-compliant3.04%
- TVSMOTOR.BOnon-compliant2.67%
- PSMTquestionable2.47%
- 016360.KSnon-compliant2.43%
What changed, and when
Verdict history for AIEMX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
- 2026-09-07 No change recorded No verdict change for AIEMX has been recorded since tracking began. The scan ledger records that the compliance detectors ran, not which symbols each pass covered.
ℹ️ no compliance scan has run for 4 days - this is not a reading of today
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.
Price Forecast
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.
Technical Summary
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.
Every indicator, and what it reads
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 36.40 | NEUTRAL |
| Stochastic %K (14) | 17.36 | BUY |
| CCI (20) | -68.67 | NEUTRAL |
| Williams %R (14) | -82.64 | BUY |
| MACD (12,26,9) | -0.03 | SELL |
| ROC (10) | -2.41 | SELL |
| Momentum (10) | -0.35 | SELL |
| EMA (10) | 14.30 | SELL |
| SMA (10) | 14.21 | SELL |
| EMA (20) | 14.61 | SELL |
| SMA (20) | 14.75 | SELL |
| EMA (30) | 14.84 | SELL |
| SMA (30) | 15.08 | SELL |
| EMA (50) | 15.10 | SELL |
| SMA (50) | 15.31 | SELL |
| EMA (100) | 15.27 | SELL |
| SMA (100) | 15.63 | SELL |
| EMA (200) | 14.85 | SELL |
| SMA (200) | 15.14 | SELL |
SMC — Top Down
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
Before you act on this
The questions worth asking about any verdict on this page, answered plainly.
Is a fund screened on its name?
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.
What does unrated weight mean?
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.
Does the issuer's board make it compliant?
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.
How often is this re-screened?
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.
Compare with
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.
AI Summary
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.