CAAPXETF / FundAriel Appreciation Fund
Verdicts genuinely change. Free email alert the moment CAAPX'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.
Ariel Appreciation Fund · Ariel Investment Trust
45 holdings
NON-COMPLIANT 50.79% of portfolio weight is in non-compliant holdings, over the 5% threshold.
45 holdings, 39 matched (88% of weight). Portfolio as of 2026-06-30, filed 2026-08-20. Source: SEC Form N-PORT.
1.85% of this portfolio’s income is non-permissible — weighted across holdings, computed over 83% of portfolio weight (37 of 45 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.
31.6% compliant 5.3% questionable 50.8% non-compliant 12.3% unscreened
All holdings (45)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| CRL CHARLES RIVER LABORATORIES INTERNATIONAL INC | COMPLIANT | 4.04% | AAOIFI21.2% Usmani40.3% Dow Jones Islamic33.1% S&P Shariah30.9% MSCI Islamic40.3% MSCI Islamic M-Series30.9% FTSE Shariah34.9% |
| MSGE MADISON SQUARE GARDEN ENTERTAINMENT CORP | NON_COMPLIANT | 3.40% | AAOIFI32.1% Usmani60.7% Dow Jones Islamic50.6% S&P Shariah55.9% MSCI Islamic60.7% MSCI Islamic M-Series55.9% FTSE Shariah29.5% |
| OSW ONESPAWORLD HOLDINGS LTD | COMPLIANT | 3.39% | AAOIFI4.0% Usmani12.4% Dow Jones Islamic4.2% S&P Shariah4.8% MSCI Islamic12.4% MSCI Islamic M-Series4.8% FTSE Shariah11.2% |
| MIDD MIDDLEBY CORP (THE) | NON_COMPLIANT | 3.35% | AAOIFI40.7% Usmani37.3% Dow Jones Islamic27.5% S&P Shariah27.5% MSCI Islamic37.3% MSCI Islamic M-Series27.5% FTSE Shariah36.9% |
| JLL JONES LANG LASALLE INC | NON_COMPLIANT | 2.91% | AAOIFI18.3% Usmani14.4% Dow Jones Islamic18.3% S&P Shariah20.5% MSCI Islamic14.4% MSCI Islamic M-Series20.5% FTSE Shariah9.4% |
| MSGS MADISON SQUARE GARDEN SPORTS CORP | QUESTIONABLE | 2.91% | AAOIFI11.9% Usmani75.5% Dow Jones Islamic18.1% S&P Shariah20.1% MSCI Islamic75.5% MSCI Islamic M-Series20.1% FTSE Shariah16.8% |
| NCLH NORWEGIAN CRUISE LINE HOLDINGS LTD | NON_COMPLIANT | 2.91% | AAOIFI223.5% Usmani66.5% Dow Jones Islamic165.6% S&P Shariah179.7% MSCI Islamic66.5% MSCI Islamic M-Series179.7% FTSE Shariah62.6% |
| OMC OMNICOM GROUP INC | NON_COMPLIANT | 2.90% | AAOIFI50.5% Usmani22.5% Dow Jones Islamic63.9% S&P Shariah66.1% MSCI Islamic22.5% MSCI Islamic M-Series66.1% FTSE Shariah18.7% |
| FAF FIRST AMERICAN FINANCIAL CORP | NON_COMPLIANT | 2.84% | AAOIFI15.3% Usmani6.0% Dow Jones Islamic17.7% S&P Shariah18.6% MSCI Islamic6.0% MSCI Islamic M-Series18.6% FTSE Shariah6.0% |
| SCHW CHARLES SCHWAB CORP (THE) | NON_COMPLIANT | 2.74% | AAOIFI14.6% Usmani5.3% Dow Jones Islamic18.7% S&P Shariah22.0% MSCI Islamic5.3% MSCI Islamic M-Series22.0% FTSE Shariah5.3% |
| LH LABCORP HOLDINGS INC | COMPLIANT | 2.72% | AAOIFI25.4% Usmani36.5% Dow Jones Islamic31.6% S&P Shariah33.5% MSCI Islamic36.2% MSCI Islamic M-Series33.5% FTSE Shariah31.6% |
| MAS MASCO CORP | COMPLIANT | 2.72% | AAOIFI23.0% Usmani61.8% Dow Jones Islamic22.1% S&P Shariah22.3% MSCI Islamic61.5% MSCI Islamic M-Series22.3% FTSE Shariah56.3% |
| SLB LTD | UNSCREENED | 2.63% | no in-house ratios for this holding |
| NVST ENVISTA HOLDINGS CORP | NON_COMPLIANT | 2.54% | AAOIFI36.2% Usmani28.4% Dow Jones Islamic43.9% S&P Shariah43.7% MSCI Islamic28.4% MSCI Islamic M-Series43.7% FTSE Shariah25.7% |
| CBRE CBRE GROUP INC | COMPLIANT | 2.47% | AAOIFI20.1% Usmani27.9% Dow Jones Islamic19.6% S&P Shariah22.3% MSCI Islamic27.2% MSCI Islamic M-Series22.3% FTSE Shariah19.0% |
| RLI RLI CORP | NON_COMPLIANT | 2.45% | AAOIFI5.2% Usmani4.6% Dow Jones Islamic5.1% S&P Shariah5.1% MSCI Islamic4.6% MSCI Islamic M-Series5.1% FTSE Shariah4.6% |
| MANU MANCHESTER UNITED PLC | QUESTIONABLE | 2.35% | AAOIFI21.7% Usmani46.5% Dow Jones Islamic34.8% S&P Shariah34.9% MSCI Islamic46.5% MSCI Islamic M-Series34.9% FTSE Shariah46.5% |
| AXALTA COATING SYSTEMS LTD | UNSCREENED | 2.34% | no in-house ratios for this holding |
| BIO BIO-RAD LABORATORIES INC | COMPLIANT | 2.33% | AAOIFI9.3% Usmani9.5% Dow Jones Islamic11.8% S&P Shariah11.6% MSCI Islamic9.5% MSCI Islamic M-Series11.6% FTSE Shariah7.8% |
| NVT NVENT ELECTRIC PLC | COMPLIANT | 2.29% | AAOIFI6.2% Usmani22.8% Dow Jones Islamic10.2% S&P Shariah11.5% MSCI Islamic22.8% MSCI Islamic M-Series11.5% FTSE Shariah20.9% |
| GNRC GENERAC HOLDINGS INC | COMPLIANT | 2.27% | AAOIFI10.8% Usmani21.2% Dow Jones Islamic11.6% S&P Shariah12.8% MSCI Islamic21.0% MSCI Islamic M-Series12.8% FTSE Shariah21.0% |
| BOKF BOK FINANCIAL CORP | NON_COMPLIANT | 2.26% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SPHR SPHERE ENTERTAINMENT COMPANY | NON_COMPLIANT | 2.22% | AAOIFI22.3% Usmani22.6% Dow Jones Islamic31.5% S&P Shariah37.9% MSCI Islamic22.6% MSCI Islamic M-Series37.9% FTSE Shariah19.3% |
| KN KNOWLES CORP | COMPLIANT | 2.21% | AAOIFI5.0% Usmani14.4% Dow Jones Islamic7.5% S&P Shariah8.2% MSCI Islamic14.3% MSCI Islamic M-Series8.2% FTSE Shariah12.4% |
| KEYS KEYSIGHT TECHNOLOGIES INC | COMPLIANT | 2.19% | AAOIFI4.8% Usmani23.0% Dow Jones Islamic7.5% S&P Shariah8.4% MSCI Islamic23.0% MSCI Islamic M-Series8.4% FTSE Shariah21.1% |
| KKR KKR & CO. INC | NON_COMPLIANT | 2.17% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| SJM J.M. SMUCKER COMPANY (THE) | NON_COMPLIANT | 2.13% | AAOIFI48.0% Usmani41.6% Dow Jones Islamic60.6% S&P Shariah60.2% MSCI Islamic41.6% MSCI Islamic M-Series60.2% FTSE Shariah40.4% |
| NTRS NORTHERN TRUST CORP | NON_COMPLIANT | 2.12% | AAOIFI12.6% Usmani2.1% Dow Jones Islamic15.2% S&P Shariah17.3% MSCI Islamic2.1% MSCI Islamic M-Series17.3% FTSE Shariah2.1% |
| GNTX GENTEX CORP | COMPLIANT | 2.03% | AAOIFI0.2% Usmani0.4% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic0.4% MSCI Islamic M-Series0.2% FTSE Shariah0.1% |
| PRESTIGE CONSUMER HEALTHCARE INC | UNSCREENED | 2.00% | no in-house ratios for this holding |
| MATTEL INC | UNSCREENED | 1.91% | no in-house ratios for this holding |
| CARLYLE GROUP INC (THE) | UNSCREENED | 1.91% | no in-house ratios for this holding |
| HLI HOULIHAN LOKEY INC | NON_COMPLIANT | 1.83% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| CLB CORE LABORATORIES INC | NON_COMPLIANT | 1.73% | AAOIFI28.7% Usmani28.1% Dow Jones Islamic23.7% S&P Shariah21.7% MSCI Islamic28.1% MSCI Islamic M-Series21.7% FTSE Shariah19.4% |
| AFL AFLAC INC | NON_COMPLIANT | 1.56% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| NORTHERN INSTITUTIONAL FUNDS | UNSCREENED | 1.55% | no in-house ratios for this holding |
| HAE HAEMONETICS CORP | NON_COMPLIANT | 1.53% | AAOIFI22.5% Usmani51.8% Dow Jones Islamic36.0% S&P Shariah33.2% MSCI Islamic51.8% MSCI Islamic M-Series33.2% FTSE Shariah49.6% |
| LAZ LAZARD INC | NON_COMPLIANT | 1.53% | AAOIFI39.3% Usmani39.8% Dow Jones Islamic32.3% S&P Shariah35.6% MSCI Islamic39.8% MSCI Islamic M-Series35.6% FTSE Shariah39.8% |
| FDS FACTSET RESEARCH SYSTEMS INC | COMPLIANT | 1.51% | AAOIFI14.6% Usmani37.5% Dow Jones Islamic12.1% S&P Shariah11.2% MSCI Islamic37.5% MSCI Islamic M-Series11.2% FTSE Shariah33.2% |
| LFUS LITTELFUSE INC | COMPLIANT | 1.42% | AAOIFI6.6% Usmani18.5% Dow Jones Islamic9.9% S&P Shariah10.5% MSCI Islamic18.5% MSCI Islamic M-Series10.5% FTSE Shariah16.4% |
| REZI RESIDEO TECHNOLOGIES INC | NON_COMPLIANT | 1.38% | AAOIFI130.9% Usmani44.5% Dow Jones Islamic92.2% S&P Shariah104.2% MSCI Islamic44.5% MSCI Islamic M-Series104.2% FTSE Shariah40.7% |
| FISV FISERV INC | NON_COMPLIANT | 1.27% | AAOIFI99.4% Usmani34.6% Dow Jones Islamic38.9% S&P Shariah36.9% MSCI Islamic34.6% MSCI Islamic M-Series36.9% FTSE Shariah34.5% |
| RCL ROYAL CARIBBEAN CRUISES LTD | NON_COMPLIANT | 1.20% | AAOIFI33.1% Usmani52.7% Dow Jones Islamic32.9% S&P Shariah40.4% MSCI Islamic52.7% MSCI Islamic M-Series40.4% FTSE Shariah51.2% |
| KMX CARMAX INC | NON_COMPLIANT | 1.03% | AAOIFI217.2% Usmani70.8% Dow Jones Islamic209.1% S&P Shariah190.0% MSCI Islamic70.1% MSCI Islamic M-Series190.0% FTSE Shariah68.2% |
| PGR PROGRESSIVE CORP (THE) | NON_COMPLIANT | 0.79% | AAOIFI6.5% Usmani6.7% Dow Jones Islamic6.3% S&P Shariah6.9% MSCI Islamic6.7% MSCI Islamic M-Series6.9% FTSE Shariah6.7% |
The published standards disagree about this fund by 18 points of portfolio weight — 42.6% of it passes AAOIFI, 24.9% 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 42.6% ratios fail on 39.5% 17.8% not rated under AAOIFI
ratios pass on 29.5% ratios fail on 47.6% 22.9% not rated under Usmani
ratios pass on 39.3% ratios fail on 41.3% 19.4% not rated under Dow Jones Islamic
ratios pass on 37.2% ratios fail on 43.4% 19.4% not rated under S&P Shariah
ratios pass on 24.9% ratios fail on 52.9% 22.1% not rated under MSCI Islamic
ratios pass on 38.7% ratios fail on 43.4% 17.8% not rated under MSCI Islamic M-Series
ratios pass on 40.8% ratios fail on 37.0% 22.1% not rated under FTSE Shariah
39 of 45 listed holdings carry our own per-methodology verdicts (88% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 38 (85% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| MSGE MADISON SQUARE GARDEN ENTERTAINMENT CORP | 3.40% |
| MIDD MIDDLEBY CORP (THE) | 3.35% |
| JLL JONES LANG LASALLE INC | 2.91% |
| NCLH NORWEGIAN CRUISE LINE HOLDINGS LTD | 2.91% |
| OMC OMNICOM GROUP INC | 2.90% |
| FAF FIRST AMERICAN FINANCIAL CORP | 2.84% |
| SCHW CHARLES SCHWAB CORP (THE) | 2.74% |
| NVST ENVISTA HOLDINGS CORP | 2.54% |
| RLI RLI CORP | 2.45% |
| BOKF BOK FINANCIAL CORP | 2.26% |
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Ariel Appreciation Fund (CAAPX) 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 |
|---|---|---|
| CRLCHARLES RIVER LABORATORIES INTERNATIONAL INC | 4.04% | Compliant |
| MSGEMADISON SQUARE GARDEN ENTERTAINMENT CORP | 3.40% | Non-compliant |
| OSWONESPAWORLD HOLDINGS LTD | 3.39% | Compliant |
| MIDDMIDDLEBY CORP (THE) | 3.35% | Non-compliant |
| JLLJONES LANG LASALLE INC | 2.91% | Non-compliant |
| MSGSMADISON SQUARE GARDEN SPORTS CORP | 2.91% | Questionable |
| NCLHNORWEGIAN CRUISE LINE HOLDINGS LTD | 2.91% | Non-compliant |
| OMCOMNICOM GROUP INC | 2.90% | Non-compliant |
| FAFFIRST AMERICAN FINANCIAL CORP | 2.84% | Non-compliant |
| SCHWCHARLES SCHWAB CORP (THE) | 2.74% | Non-compliant |
Top 10 of 45 holdings, 31.4% 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.
- MSGEnon-compliant3.40%
- MIDDnon-compliant3.35%
- JLLnon-compliant2.91%
- MSGSquestionable2.91%
- NCLHnon-compliant2.91%
- OMCnon-compliant2.90%
What changed, and when
Verdict history for CAAPX. 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 CAAPX has been recorded since tracking began. The scan ledger records that the compliance detectors ran, not which symbols each pass covered.
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.
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) | 51.90 | NEUTRAL |
| Stochastic %K (14) | 74.82 | NEUTRAL |
| CCI (20) | 101.96 | SELL |
| Williams %R (14) | -25.18 | NEUTRAL |
| MACD (12,26,9) | 0.16 | BUY |
| ROC (10) | 1.06 | BUY |
| Momentum (10) | 0.46 | BUY |
| EMA (10) | 43.64 | BUY |
| SMA (10) | 43.53 | BUY |
| EMA (20) | 43.60 | BUY |
| SMA (20) | 43.34 | BUY |
| EMA (30) | 43.73 | BUY |
| SMA (30) | 43.41 | BUY |
| EMA (50) | 43.95 | SELL |
| SMA (50) | 44.39 | SELL |
| EMA (100) | 43.75 | BUY |
| SMA (100) | 44.39 | SELL |
| EMA (200) | 42.26 | BUY |
| SMA (200) | 42.63 | BUY |
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.