Verdicts genuinely change. Free email alert the moment DAX'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 DAX Germany ETF ETF · GLOBAL X FUNDS
42 holdings · as of 2026-07-31 (2.7 months ago)
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 102% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 47.62% of portfolio weight is in non-compliant holdings, over the 5% threshold.
2.18% 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.
42 holdings, 34 matched (85% of weight). Portfolio as of 2026-07-31, filed 2026-09-29. Source: SEC Form N-PORT.
3.68% of this portfolio’s income is non-permissible — weighted across holdings, computed over 80% of portfolio weight (32 of 42 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.
38.6% compliant 0.0% questionable 46.6% non-compliant 14.8% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| SIE.DE Siemens Aktiengesellschaft | COMPLIANT | 11.87% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ALV.DE Allianz SE | NON_COMPLIANT | 9.41% | AAOIFI20.8% Usmani3.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic3.4% MSCI Islamic M-Seriesfail FTSE Shariah3.4% |
| SAP SAP SE | COMPLIANT | 9.12% | AAOIFI3.5% Usmani13.0% Dow Jones Islamic3.1% S&P Shariah3.4% MSCI Islamic10.6% MSCI Islamic M-Series3.4% FTSE Shariah10.6% |
| ENR.DE Siemens Energy AG | COMPLIANT | 6.86% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| AIR.PA Airbus SE | NON_COMPLIANT | 6.81% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| DTE.DE Deutsche Telekom AG | NON_COMPLIANT | 5.30% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| IFX.DE Infineon Technologies AG | COMPLIANT | 4.61% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| Muenchener Rueckversicherungs-Gesellschaft Aktiengesellschaft in Muenchen | UNSCREENED | 3.79% | no in-house ratios for this holding |
| DBK.DE Deutsche Bank Aktiengesellschaft | NON_COMPLIANT | 3.48% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| DHL.DE Deutsche Post AG | NON_COMPLIANT | 3.13% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Rheinmetall Aktiengesellschaft | UNSCREENED | 3.03% | no in-house ratios for this holding |
| Deutsche Boerse Aktiengesellschaft | UNSCREENED | 2.80% | no in-house ratios for this holding |
| BAYN.DE Bayer Aktiengesellschaft | NON_COMPLIANT | 2.70% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BAS.DE BASF SE | NON_COMPLIANT | 2.57% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| E.ON SE | UNSCREENED | 2.40% | no in-house ratios for this holding |
| United States of America | NON_COMPLIANT | 2.18% | no in-house ratios for this holding |
| RWE.DE RWE Aktiengesellschaft | NON_COMPLIANT | 2.09% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MBG.DE Mercedes-Benz Group AG | NON_COMPLIANT | 1.92% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ADDYY adidas AG | COMPLIANT | 1.64% | AAOIFI21.3% Usmani41.8% Dow Jones Islamic34.7% S&P Shariah34.7% MSCI Islamic27.4% MSCI Islamic M-Series34.7% FTSE Shariah27.4% |
| DTG.DE Daimler Truck Holding AG | NON_COMPLIANT | 1.45% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HEI.DE Heidelberg Materials AG | COMPLIANT | 1.16% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| MTX.DE MTU Aero Engines AG | NON_COMPLIANT | 1.12% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MERCK Kommanditgesellschaft auf Aktien | UNSCREENED | 1.06% | no in-house ratios for this holding |
| 1FRE.MI Fresenius SE & Co. KGaA | NON_COMPLIANT | 1.05% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| BMW.DE Bayerische Motoren Werke Aktiengesellschaft | NON_COMPLIANT | 0.95% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| VOLKSWAGEN AKTIENGESELLSCHAFT | UNSCREENED | 0.88% | no in-house ratios for this holding |
| VNA.DE Vonovia SE | NON_COMPLIANT | 0.88% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HNR1.DE Hannover Rueck SE | NON_COMPLIANT | 0.86% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| COMMERZBANK Aktiengesellschaft. | UNSCREENED | 0.80% | no in-house ratios for this holding |
| SHL.DE Siemens Healthineers AG | COMPLIANT | 0.78% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| SY1.DE Symrise AG | COMPLIANT | 0.68% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| HEN.DE Henkel AG & Co. KGaA | COMPLIANT | 0.65% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| G1A.DE GEA Group Aktiengesellschaft | COMPLIANT | 0.51% | AAOIFI2.3% Usmani8.1% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic4.1% MSCI Islamic M-Seriespass FTSE Shariah4.1% |
| FME.DE Fresenius Medical Care AG | NON_COMPLIANT | 0.49% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CON.DE Continental Aktiengesellschaft | NON_COMPLIANT | 0.44% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HOT.DE HOCHTIEF Aktiengesellschaft | COMPLIANT | 0.44% | AAOIFIpass Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| QGEN Qiagen N.V. | COMPLIANT | 0.42% | AAOIFI20.8% Usmani28.9% Dow Jones Islamic18.9% S&P Shariah18.9% MSCI Islamic28.9% MSCI Islamic M-Series18.9% FTSE Shariah26.3% |
| BEI.DE Beiersdorf Aktiengesellschaft | COMPLIANT | 0.41% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| BNR.DE Brenntag SE | NON_COMPLIANT | 0.40% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ZAL.DE Zalando SE | NON_COMPLIANT | 0.38% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| MACQUARIE CAPITAL | UNSCREENED | 0.32% | no in-house ratios for this holding |
| G24.DE Scout24 SE | COMPLIANT | 0.31% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
The published standards disagree about this fund by 15 points of portfolio weight — 39.5% of it passes AAOIFI, 24.4% passes S&P Shariah. 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 39.5% ratios fail on 45.4% 17.3% not rated under AAOIFI
ratios pass on 30.8% ratios fail on 54.1% 17.3% not rated under Usmani
ratios pass on 37.4% ratios fail on 47.5% 17.3% not rated under Dow Jones Islamic
ratios pass on 24.4% ratios fail on 60.6% 17.3% not rated under S&P Shariah
ratios pass on 34.0% ratios fail on 50.9% 17.3% not rated under MSCI Islamic
ratios pass on 24.4% ratios fail on 60.6% 17.3% not rated under MSCI Islamic M-Series
ratios pass on 34.5% ratios fail on 50.5% 17.3% not rated under FTSE Shariah
33 of 42 listed holdings carry our own per-methodology verdicts (85% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 5 (21% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| ALV.DE Allianz SE | 9.41% |
| AIR.PA Airbus SE | 6.81% |
| DTE.DE Deutsche Telekom AG | 5.30% |
| DBK.DE Deutsche Bank Aktiengesellschaft | 3.48% |
| DHL.DE Deutsche Post AG | 3.13% |
| BAYN.DE Bayer Aktiengesellschaft | 2.70% |
| BAS.DE BASF SE | 2.57% |
| United States of America | 2.18% |
| RWE.DE RWE Aktiengesellschaft | 2.09% |
| MBG.DE Mercedes-Benz Group AG | 1.92% |
Methodology breakdown computing — it will appear here on its own.
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
Global X DAX Germany ETF (DAX) 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.
Computing the full ratio and business-activity breakdown for DAX — 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.
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.
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.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 45.80 | NEUTRAL |
| Stochastic %K (14) | 63.24 | NEUTRAL |
| CCI (20) | -11.34 | NEUTRAL |
| Williams %R (14) | -36.76 | NEUTRAL |
| MACD (12,26,9) | 0.10 | BUY |
| ROC (10) | -0.18 | SELL |
| Momentum (10) | -0.08 | SELL |
| EMA (10) | 43.96 | BUY |
| SMA (10) | 43.78 | BUY |
| EMA (20) | 44.23 | SELL |
| SMA (20) | 44.06 | BUY |
| EMA (30) | 44.52 | SELL |
| SMA (30) | 44.55 | SELL |
| EMA (50) | 44.86 | SELL |
| SMA (50) | 45.57 | SELL |
| EMA (100) | 44.94 | SELL |
| SMA (100) | 45.12 | SELL |
| EMA (200) | 44.64 | SELL |
| SMA (200) | 44.68 | SELL |
The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The index tracks the segment of the largest and most actively traded companies - known as blue chips - on the German equities market. The fund is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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 |
| 🕐 1H | BULLISH | 45 |
| ⏱ 15-Min | RANGING | 130 |
| ⏲ 5-Min | BULLISH | 234 |
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.
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.
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.
Insider transactions reported in the last ninety days. Insiders sell for reasons that have nothing to do with a view, so a sale on its own is not a signal.
NO DATA 0 buys · 0 sells
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 2026-10-13 · Asset managers net 915835 (+9220)
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.