CSAAXETF / FundMast Managed Futures Strategy Fund
Verdicts genuinely change. Free email alert the moment CSAAX'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.
Mast Managed Futures Strategy Fund · Investment Managers Series Trust III
57 holdings
NON-COMPLIANT At least 23.17% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 69% turns out to be. Matching more holdings can only raise this share, never lower it.
23.17% 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.
57 holdings, 7 matched (25% of weight). Portfolio as of 2026-07-31, filed 2026-09-17. Source: SEC Form N-PORT.
Portfolio shares are withheld: coverage is below the floor needed to state one. The holdings themselves are below, because the names are evidence you can check.
All holdings (57)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| UMB MONEY MARKET II SPECIAL / | UNSCREENED | 63.69% | no in-house ratios for this holding |
| TREASURY BILL | NON_COMPLIANT | 3.34% | no in-house ratios for this holding |
| TREASURY BILL | NON_COMPLIANT | 3.33% | no in-house ratios for this holding |
| TREASURY BILL | NON_COMPLIANT | 3.32% | no in-house ratios for this holding |
| TREASURY BILL | NON_COMPLIANT | 3.31% | no in-house ratios for this holding |
| TREASURY BILL | NON_COMPLIANT | 3.30% | no in-house ratios for this holding |
| TREASURY BILL | NON_COMPLIANT | 3.29% | no in-house ratios for this holding |
| TREASURY BILL | NON_COMPLIANT | 3.28% | no in-house ratios for this holding |
| JAPANESE YEN / | UNSCREENED | 0.63% | no in-house ratios for this holding |
| ULTRA LONG T-BOND SEPTEMBER 2026 / | UNSCREENED | 0.62% | no in-house ratios for this holding |
| BP CURRENCY FUTURE SEPT 2026 / | UNSCREENED | 0.42% | no in-house ratios for this holding |
| 10 YR T-NOTE FUTURE SEPTEMBER 2026 / | UNSCREENED | 0.35% | no in-house ratios for this holding |
| EURO CURRENCY / | UNSCREENED | 0.29% | no in-house ratios for this holding |
| HONG KONG DOLLAR / | UNSCREENED | 0.24% | no in-house ratios for this holding |
| GREAT BRITAIN POUND / | UNSCREENED | 0.20% | no in-house ratios for this holding |
| FTSE 100 IDX FUT SEPT 2026 / | UNSCREENED | 0.20% | no in-house ratios for this holding |
| 2YR T-NOTE FUT SEP26 SEPTEMBER 2026 / | UNSCREENED | 0.15% | no in-house ratios for this holding |
| EURO-BUND FUTURES SEP 2026 / | UNSCREENED | 0.14% | no in-house ratios for this holding |
| JPY YEN CURR FUT SEPT 2026 / | UNSCREENED | 0.13% | no in-house ratios for this holding |
| LOW SU GASOIL G FUT SEPT 26 / | UNSCREENED | 0.12% | no in-house ratios for this holding |
| LME ALUMINIUM FUTURE SEPT 2026 / | UNSCREENED | 0.12% | no in-house ratios for this holding |
| EMINI XAK TECHNOLOGY SEPT 2026 / | UNSCREENED | 0.11% | no in-house ratios for this holding |
| NATURAL GAS FUTR SEPT 2026 / | UNSCREENED | 0.09% | no in-house ratios for this holding |
| SOYBEAN OIL FUTURE DEC 2026 / | UNSCREENED | 0.09% | no in-house ratios for this holding |
| EUR/USD FUTURE SEP 2026 / | UNSCREENED | 0.08% | no in-house ratios for this holding |
| BRAZIL REAL FUTURE SEP 2026 / | UNSCREENED | 0.08% | no in-house ratios for this holding |
| NIKKEI 225 SEPT 26 / | UNSCREENED | 0.08% | no in-house ratios for this holding |
| EURO STOXX 50 SEPT 26 / | UNSCREENED | 0.07% | no in-house ratios for this holding |
| NY HARBOR ULSD SEPT 2026 / | UNSCREENED | 0.06% | no in-house ratios for this holding |
| LME ZINC FUTURE SEPT 2026 / | UNSCREENED | 0.05% | no in-house ratios for this holding |
| COCOA FUTURE SEPT 2026 / | UNSCREENED | 0.05% | no in-house ratios for this holding |
| JPN 10YR BOND SEPT 26 / | UNSCREENED | 0.04% | no in-house ratios for this holding |
| WHEAT FUTURE SEPT 2026 / | UNSCREENED | 0.04% | no in-house ratios for this holding |
| SOYBEANS FUTURE NOV 2026 / | UNSCREENED | 0.04% | no in-house ratios for this holding |
| COPPER FUTURE SEPT 2026 / | UNSCREENED | 0.04% | no in-house ratios for this holding |
| BRENT CRUDE FUTURE NOV 2026 / | UNSCREENED | 0.03% | no in-house ratios for this holding |
| CANADIAN DOLLAR FUT SEPT 2026 / | UNSCREENED | 0.03% | no in-house ratios for this holding |
| EURO SCHATZ FUT SEPT 26 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| LME ALUMINIUM FUTURE SEPT 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| LME ZINC FUTURE SEPT 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| LME NICKEL FUTURE SEPT 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| SUGAR FUTURE OCT 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| COTTON FUTURE DEC 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| GOLD 100 OZ FUTRURE DEC 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| LME LEAD FUTURE SEPT 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| LME NICKEL FUTURE SEPT 2026 / | UNSCREENED | 0.02% | no in-house ratios for this holding |
| WTI CRUDE FUTURE SEPT 2026 / | UNSCREENED | 0.01% | no in-house ratios for this holding |
| LONG GILT FUTURE SEPT 2026 / | UNSCREENED | 0.01% | no in-house ratios for this holding |
| GASOLINE RBOB FUT SEP 2026 / | UNSCREENED | 0.01% | no in-house ratios for this holding |
| XAI EMINI INDUSTRY SEPT 2026 / | UNSCREENED | 0.01% | no in-house ratios for this holding |
| CORN FUTURE SEPT 2026 / | UNSCREENED | 0.01% | no in-house ratios for this holding |
| AUD USD CURNCY FUT SEPT 26 / | UNSCREENED | 0.01% | no in-house ratios for this holding |
| COFFEE C FUTURE SEPT 2026 / | UNSCREENED | 0.01% | no in-house ratios for this holding |
| SOYBEAN MEAL FUTURE DEC 2026 / | UNSCREENED | 0.00% | no in-house ratios for this holding |
| LME LEAD FUTURE SEPT 2026 / | UNSCREENED | 0.00% | no in-house ratios for this holding |
| SILVER FUTURE SEPT 2026 / | UNSCREENED | 0.00% | no in-house ratios for this holding |
| HANG SENG INDEX AUG 26 / | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Non-compliant holding | Weight |
|---|---|
| TREASURY BILL | 3.34% |
| TREASURY BILL | 3.33% |
| TREASURY BILL | 3.32% |
| TREASURY BILL | 3.31% |
| TREASURY BILL | 3.30% |
| TREASURY BILL | 3.29% |
| TREASURY BILL | 3.28% |
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Mast Managed Futures Strategy Fund (CSAAX) 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 |
|---|---|---|
| UMB MONEY MARKET II SPECIAL /not matched to a ticker | 63.69% | Not screened |
| TREASURY BILLnot matched to a ticker | 3.34% | Non-compliant |
| TREASURY BILLnot matched to a ticker | 3.33% | Non-compliant |
| TREASURY BILLnot matched to a ticker | 3.32% | Non-compliant |
| TREASURY BILLnot matched to a ticker | 3.31% | Non-compliant |
| TREASURY BILLnot matched to a ticker | 3.30% | Non-compliant |
| TREASURY BILLnot matched to a ticker | 3.29% | Non-compliant |
| TREASURY BILLnot matched to a ticker | 3.28% | Non-compliant |
| JAPANESE YEN /not matched to a ticker | 0.63% | Not screened |
| ULTRA LONG T-BOND SEPTEMBER 2026 /not matched to a ticker | 0.62% | Not screened |
Top 10 of 57 holdings, 88.1% 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.
- UMB MONEY MARKET II SPECIAL /not screened63.69%
- TREASURY BILLnon-compliant3.34%
- TREASURY BILLnon-compliant3.33%
- TREASURY BILLnon-compliant3.32%
- TREASURY BILLnon-compliant3.31%
- TREASURY BILLnon-compliant3.30%
What changed, and when
Verdict history for CSAAX. 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 CSAAX 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.
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) | 53.90 | NEUTRAL |
| Stochastic %K (14) | 50.00 | NEUTRAL |
| CCI (20) | 0.00 | NEUTRAL |
| Williams %R (14) | -50.00 | NEUTRAL |
| MACD (12,26,9) | -0.00 | SELL |
| ROC (10) | 0.00 | NEUTRAL |
| Momentum (10) | 0.00 | NEUTRAL |
| EMA (10) | 7.90 | BUY |
| SMA (10) | 7.90 | NEUTRAL |
| EMA (20) | 7.90 | BUY |
| SMA (20) | 7.90 | NEUTRAL |
| EMA (30) | 7.90 | BUY |
| SMA (30) | 7.90 | NEUTRAL |
| EMA (50) | 7.89 | BUY |
| SMA (50) | 7.90 | BUY |
| EMA (100) | 7.89 | 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.