AQWAETF / FundGlobal X Clean Water ETF
Verdicts genuinely change. Free email alert the moment AQWA'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.
Global X Clean Water ETF ETF · GLOBAL X FUNDS
40 holdings · as of 2026-08-31 (2.1 months ago)
NON-COMPLIANT 42.53% of portfolio weight is in non-compliant holdings, over the 5% threshold.
40 holdings, 34 matched (89% of weight). Portfolio as of 2026-08-31, filed 2026-10-29. Source: SEC Form N-PORT.
1.06% of this portfolio’s income is non-permissible — weighted across holdings, computed over 79% of portfolio weight (32 of 40 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.
46.3% compliant 0.0% questionable 42.5% non-compliant 11.1% unscreened
All holdings (40)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| AWK AMERICAN WATER WORKS COMPANY, INC. | NON_COMPLIANT | 9.05% | AAOIFI58.8% Usmani42.8% Dow Jones Islamic60.7% S&P Shariah62.1% MSCI Islamic42.8% MSCI Islamic M-Series62.1% FTSE Shariah42.6% |
| XYL XYLEM INC. | COMPLIANT | 7.52% | AAOIFI12.0% Usmani17.6% Dow Jones Islamic10.0% S&P Shariah10.3% MSCI Islamic17.6% MSCI Islamic M-Series10.3% FTSE Shariah16.9% |
| FERG FERGUSON ENTERPRISES INC. | UNRATED | 7.51% | AAOIFI15.7% Usmani35.7% Dow Jones Islamic16.4% S&P Shariah17.1% MSCI Islamic35.7% MSCI Islamic M-Series17.1% FTSE Shariah25.4% |
| UU.L UNITED UTILITIES GROUP PLC | NON_COMPLIANT | 6.83% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| WTS WATTS WATER TECHNOLOGIES, INC. | COMPLIANT | 5.44% | AAOIFI0.9% Usmani3.7% Dow Jones Islamic1.2% S&P Shariah1.4% MSCI Islamic3.7% MSCI Islamic M-Series1.4% FTSE Shariah3.7% |
| PENTAIR PUBLIC LIMITED COMPANY | UNSCREENED | 5.22% | no in-house ratios for this holding |
| WTRG Essential Utilities, Inc. | NON_COMPLIANT | 5.06% | AAOIFI74.1% Usmani42.5% Dow Jones Islamic81.4% S&P Shariah84.9% MSCI Islamic42.5% MSCI Islamic M-Series84.9% FTSE Shariah42.4% |
| SVT.L SEVERN TRENT PLC | NON_COMPLIANT | 4.76% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION | COMPLIANT | 4.18% | AAOIFI6.6% Usmani21.3% Dow Jones Islamic7.8% S&P Shariah8.6% MSCI Islamic20.6% MSCI Islamic M-Series8.6% FTSE Shariah18.6% |
| WMS ADVANCED DRAINAGE SYSTEMS, INC. | COMPLIANT | 3.88% | AAOIFI16.0% Usmani40.8% Dow Jones Islamic16.1% S&P Shariah15.7% MSCI Islamic37.4% MSCI Islamic M-Series15.7% FTSE Shariah35.8% |
| CNM CORE & MAIN, INC. | NON_COMPLIANT | 3.61% | AAOIFI33.9% Usmani41.0% Dow Jones Islamic27.6% S&P Shariah28.8% MSCI Islamic41.0% MSCI Islamic M-Series28.8% FTSE Shariah36.5% |
| AOS A. O. SMITH CORPORATION | COMPLIANT | 3.59% | AAOIFI8.5% Usmani18.6% Dow Jones Islamic13.3% S&P Shariah12.8% MSCI Islamic18.6% MSCI Islamic M-Series12.8% FTSE Shariah17.5% |
| PRMB PRIMO BRANDS CORPORATION | NON_COMPLIANT | 3.31% | AAOIFI71.5% Usmani53.6% Dow Jones Islamic62.0% S&P Shariah69.6% MSCI Islamic53.6% MSCI Islamic M-Series69.6% FTSE Shariah48.5% |
| 6370.T Kurita Water Industries Ltd. | COMPLIANT | 2.97% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| BMI BADGER METER, INC. | COMPLIANT | 2.36% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| FELE FRANKLIN ELECTRIC CO., INC. | COMPLIANT | 2.26% | AAOIFI6.6% Usmani14.6% Dow Jones Islamic6.7% S&P Shariah6.7% MSCI Islamic14.6% MSCI Islamic M-Series6.7% FTSE Shariah11.2% |
| MWA MUELLER WATER PRODUCTS, INC. | COMPLIANT | 2.20% | AAOIFI12.2% Usmani23.2% Dow Jones Islamic11.6% S&P Shariah13.3% MSCI Islamic23.2% MSCI Islamic M-Series13.3% FTSE Shariah23.2% |
| COWAY Co., Ltd. | UNSCREENED | 2.19% | no in-house ratios for this holding |
| AWR AMERICAN STATES WATER COMPANY | COMPLIANT | 2.03% | AAOIFI21.4% Usmani26.1% Dow Jones Islamic24.7% S&P Shariah25.3% MSCI Islamic26.1% MSCI Islamic M-Series25.3% FTSE Shariah25.9% |
| GUANGDONG INVESTMENT LIMITED | UNSCREENED | 1.82% | no in-house ratios for this holding |
| 600008.SS Beijing Capital Eco-Environment Protection Group Co.,Ltd. | NON_COMPLIANT | 1.79% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CWT CALIFORNIA WATER SERVICE GROUP | NON_COMPLIANT | 1.75% | AAOIFI47.6% Usmani24.7% Dow Jones Islamic53.9% S&P Shariah54.3% MSCI Islamic24.7% MSCI Islamic M-Series54.3% FTSE Shariah24.7% |
| HTO H2O AMERICA | NON_COMPLIANT | 1.24% | AAOIFI69.6% Usmani35.0% Dow Jones Islamic99.4% S&P Shariah101.6% MSCI Islamic35.0% MSCI Islamic M-Series101.6% FTSE Shariah35.0% |
| 6368.T ORGANO CORPORATION | COMPLIANT | 1.21% | AAOIFI6.0% Usmani15.3% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic15.3% MSCI Islamic M-Seriespass FTSE Shariah15.3% |
| Companhia de Saneamento de Minas Gerais - COPASA MG | UNSCREENED | 1.19% | no in-house ratios for this holding |
| A7RU.SI Keppel Infrastructure Trust | NON_COMPLIANT | 1.19% | AAOIFI111.8% Usmani57.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic56.1% MSCI Islamic M-Seriesfail FTSE Shariah56.1% |
| 000598.SZ Chengdu Xingrong Environment Co., Ltd. | NON_COMPLIANT | 0.80% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| NWPX NWPX INFRASTRUCTURE, INC. | COMPLIANT | 0.61% | AAOIFI9.8% Usmani15.4% Dow Jones Islamic15.8% S&P Shariah18.9% MSCI Islamic15.4% MSCI Islamic M-Series18.9% FTSE Shariah1.5% |
| MSEX MIDDLESEX WATER COMPANY | NON_COMPLIANT | 0.60% | AAOIFI36.9% Usmani28.4% Dow Jones Islamic40.9% S&P Shariah40.9% MSCI Islamic28.4% MSCI Islamic M-Series40.9% FTSE Shariah28.3% |
| 300070.SZ Beijing Originwater Technology Co., Ltd. | NON_COMPLIANT | 0.56% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0371.HK BEIJING ENTERPRISES WATER GROUP LIMITED | NON_COMPLIANT | 0.49% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Vontron Technology Co., Ltd. | UNSCREENED | 0.43% | no in-house ratios for this holding |
| 6254.T Nomura Micro Science Co., Ltd. | NON_COMPLIANT | 0.35% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| YORW THE YORK WATER COMPANY | NON_COMPLIANT | 0.33% | AAOIFI37.9% Usmani26.9% Dow Jones Islamic40.6% S&P Shariah39.6% MSCI Islamic26.9% MSCI Islamic M-Series39.6% FTSE Shariah26.9% |
| 601158.SS Chongqing Water Group Co., Ltd. | NON_COMPLIANT | 0.31% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| Alkhorayef Water and Power Technologies Company SJSC | UNSCREENED | 0.29% | no in-house ratios for this holding |
| CDZI CADIZ INC. | NON_COMPLIANT | 0.26% | AAOIFI25.7% Usmani67.2% Dow Jones Islamic27.3% S&P Shariah31.4% MSCI Islamic67.2% MSCI Islamic M-Series31.4% FTSE Shariah64.5% |
| CWCO CONSOLIDATED WATER CO. LTD. | COMPLIANT | 0.26% | AAOIFI0.6% Usmani1.1% Dow Jones Islamic0.6% S&P Shariah0.6% MSCI Islamic1.1% MSCI Islamic M-Series0.6% FTSE Shariah0.0% |
| ERII ENERGY RECOVERY, INC. | COMPLIANT | 0.23% | AAOIFI2.1% Usmani4.2% Dow Jones Islamic1.1% S&P Shariah1.0% MSCI Islamic4.2% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
| 2084.SR Miahona Co SCJSC | NON_COMPLIANT | 0.22% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
The published standards disagree about this fund by 11 points of portfolio weight — 39.4% of it passes Dow Jones Islamic, 28.8% 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 35.8% ratios fail on 42.3% 21.9% not rated under AAOIFI
ratios pass on 33.7% ratios fail on 52.1% 14.1% not rated under Usmani
ratios pass on 39.4% ratios fail on 38.7% 21.9% not rated under Dow Jones Islamic
ratios pass on 39.4% ratios fail on 38.7% 21.9% not rated under S&P Shariah
ratios pass on 28.8% ratios fail on 57.0% 14.1% not rated under MSCI Islamic
ratios pass on 39.4% ratios fail on 38.7% 21.9% not rated under MSCI Islamic M-Series
ratios pass on 34.0% ratios fail on 44.3% 21.6% not rated under FTSE Shariah
34 of 40 listed holdings carry our own per-methodology verdicts (89% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 23 (67% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| AWK AMERICAN WATER WORKS COMPANY, INC. | 9.05% |
| UU.L UNITED UTILITIES GROUP PLC | 6.83% |
| WTRG Essential Utilities, Inc. | 5.06% |
| SVT.L SEVERN TRENT PLC | 4.76% |
| CNM CORE & MAIN, INC. | 3.61% |
| PRMB PRIMO BRANDS CORPORATION | 3.31% |
| 600008.SS Beijing Capital Eco-Environment Protection Group Co.,Ltd. | 1.79% |
| CWT CALIFORNIA WATER SERVICE GROUP | 1.75% |
| HTO H2O AMERICA | 1.24% |
| A7RU.SI Keppel Infrastructure Trust | 1.19% |
Methodology breakdown computing — it will appear here on its own.
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Why this signal?
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
Global X Clean Water ETF (AQWA) 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.
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🕌 In-house Compliance Research
Computing the full ratio and business-activity breakdown for AQWA — this runs off the critical path so the page paints first. It will appear here on its own.
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.
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) | 64.00 | NEUTRAL |
| Stochastic %K (14) | 98.53 | SELL |
| CCI (20) | 107.82 | SELL |
| Williams %R (14) | -1.47 | SELL |
| MACD (12,26,9) | 0.07 | BUY |
| ROC (10) | 4.11 | BUY |
| Momentum (10) | 0.75 | BUY |
| EMA (10) | 18.60 | BUY |
| SMA (10) | 18.63 | BUY |
| EMA (20) | 18.48 | BUY |
| SMA (20) | 18.36 | BUY |
| EMA (30) | 18.46 | BUY |
| SMA (30) | 18.28 | BUY |
| EMA (50) | 18.52 | BUY |
| SMA (50) | 18.43 | BUY |
| EMA (100) | 18.69 | BUY |
| SMA (100) | 18.83 | SELL |
| EMA (200) | 18.90 | SELL |
| SMA (200) | 19.09 | SELL |
About Global X Clean Water ETF
The fund invests at least 80% of its total assets, plus borrowings for investments purposes (if any), in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index is designed to provide exposure to companies that have business operations in the provision of clean water. It is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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.
| Timeframe | Bias | Bars |
|---|---|---|
| 📅 Daily | BULLISH | 41 |
| ⏱ 15-Min | BULLISH | 45 |
| ⏲ 5-Min | RANGING | 135 |
Momentum & Volume
Rate of change and relative volume against this symbol's own recent history. Momentum describes what price has done; it is not a claim about what it will do.
Peer Movement
How the rest of the sector moved over the same window. Context for a price move, never a cause of one.
Peer movement computing — it will appear here on its own.
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.
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COT Positioning — E-MINI S&P 500 - CHICAGO MERCANTILE EXCHANGE
The weekly CFTC Commitments of Traders report for the broad market it tracks, not for this symbol. Positioning context for the tape — it says nothing about this company.
NEUTRAL report date 2026-10-27 · Asset managers net 923449 (+22072)
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.