Verdicts genuinely change. Free email alert the moment ECOIX'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.
Redwheel Next Generation Power Infrastructure Fund · ADVISORS' INNER CIRCLE III
36 holdings
NON-COMPLIANT 70.25% of portfolio weight is in non-compliant holdings, over the 5% threshold.
36 holdings, 24 matched (74% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.
1.16% of this portfolio’s income is non-permissible — weighted across holdings, computed over 73% of portfolio weight (23 of 36 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.
3.5% compliant 0.0% questionable 70.3% non-compliant 26.0% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| EDP RENEWABLES SOCIEDAD ANONIMA | UNSCREENED | 6.16% | no in-house ratios for this holding |
| RNW RENEW ENERGY GLOBAL PLC | NON_COMPLIANT | 6.01% | AAOIFIfail Usmani60.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic60.7% MSCI Islamic M-Seriesfail FTSE Shariah60.7% |
| CWEN CLEARWAY ENERGY, INC. | NON_COMPLIANT | 5.04% | AAOIFI151.8% Usmani59.0% Dow Jones Islamic159.3% S&P Shariah176.9% MSCI Islamic59.0% MSCI Islamic M-Series176.9% FTSE Shariah54.0% |
| D Dominion Energy, Inc. | NON_COMPLIANT | 5.00% | AAOIFI86.6% Usmani42.8% Dow Jones Islamic102.1% S&P Shariah112.1% MSCI Islamic42.3% MSCI Islamic M-Series112.1% FTSE Shariah41.7% |
| NEE NEXTERA ENERGY, INC. | NON_COMPLIANT | 4.53% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| ENEL - SPA | UNSCREENED | 4.38% | no in-house ratios for this holding |
| AQN.TO ALGONQUIN POWER & UTILITIES CORP. | NON_COMPLIANT | 4.00% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BKW.SW BKW AG | NON_COMPLIANT | 4.00% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| EXC EXELON CORPORATION | NON_COMPLIANT | 3.89% | AAOIFI109.9% Usmani42.1% Dow Jones Islamic115.7% S&P Shariah124.5% MSCI Islamic42.1% MSCI Islamic M-Series124.5% FTSE Shariah42.1% |
| ERG.MI ERG S.P.A. | NON_COMPLIANT | 3.82% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| PEG PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED | NON_COMPLIANT | 3.75% | AAOIFI64.6% Usmani40.3% Dow Jones Islamic59.5% S&P Shariah64.4% MSCI Islamic40.3% MSCI Islamic M-Series64.4% FTSE Shariah40.1% |
| CEG CONSTELLATION ENERGY CORPORATION. | COMPLIANT | 3.48% | AAOIFI18.4% Usmani19.8% Dow Jones Islamic20.8% S&P Shariah24.7% MSCI Islamic19.8% MSCI Islamic M-Series24.7% FTSE Shariah19.8% |
| IBE.MC Iberdrola, S.A. | NON_COMPLIANT | 3.26% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NG.L NATIONAL GRID PLC | NON_COMPLIANT | 3.12% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ORA ORMAT TECHNOLOGIES, INC. | NON_COMPLIANT | 3.12% | AAOIFI18.2% Usmani17.9% Dow Jones Islamic21.1% S&P Shariah23.3% MSCI Islamic17.8% MSCI Islamic M-Series23.3% FTSE Shariah17.2% |
| ENGI.PA ENGIE SA | NON_COMPLIANT | 2.86% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| U96.SI SEMBCORP INDUSTRIES LTD | NON_COMPLIANT | 2.65% | AAOIFI87.5% Usmani56.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic52.7% MSCI Islamic M-Seriesfail FTSE Shariah52.7% |
| N/A | UNSCREENED | 2.39% | no in-house ratios for this holding |
| DRX.L DRAX GROUP PLC | NON_COMPLIANT | 2.32% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| PCG PG&E CORPORATION | NON_COMPLIANT | 2.29% | AAOIFI201.1% Usmani43.7% Dow Jones Islamic141.7% S&P Shariah142.1% MSCI Islamic43.7% MSCI Islamic M-Series142.1% FTSE Shariah43.3% |
| AVISTA CORPORATION | UNSCREENED | 2.21% | no in-house ratios for this holding |
| Transmissora Alianca de Energia Eletrica S/A | UNSCREENED | 2.17% | no in-house ratios for this holding |
| GREENCOAT UK WIND PLC | UNSCREENED | 2.02% | no in-house ratios for this holding |
| RUN SUNRUN INC. | NON_COMPLIANT | 1.95% | AAOIFI705.9% Usmani65.2% Dow Jones Islamic502.4% S&P Shariah503.0% MSCI Islamic65.0% MSCI Islamic M-Series503.0% FTSE Shariah64.9% |
| BEP-UN.TO Brookfield Renewable Partners L.P. | NON_COMPLIANT | 1.92% | AAOIFI232.6% Usmani37.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic36.3% MSCI Islamic M-Seriesfail FTSE Shariah36.3% |
| RENOVA, Inc. | UNSCREENED | 1.92% | no in-house ratios for this holding |
| HOLDING Company ADMIE (IPTO) S.A | UNSCREENED | 1.92% | no in-house ratios for this holding |
| NPI.TO NORTHLAND POWER INC | NON_COMPLIANT | 1.79% | AAOIFI126.3% Usmani53.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic51.8% MSCI Islamic M-Seriesfail FTSE Shariah51.8% |
| B3H.F BORALEX INC. | NON_COMPLIANT | 1.59% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ELIA GROUP SA | UNSCREENED | 1.55% | no in-house ratios for this holding |
| 0916.HK CHINA LONGYUAN POWER GROUP CORPORATION LIMITED | NON_COMPLIANT | 1.26% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0956.HK China Suntien Green Energy Corporation Limited | NON_COMPLIANT | 1.09% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| E.ON SE | UNSCREENED | 1.03% | no in-house ratios for this holding |
| FRVO FERVO ENERGY COMPANY | NON_COMPLIANT | 1.01% | AAOIFI6.3% Usmani9.6% Dow Jones Islamic— S&P Shariah— MSCI Islamic9.6% MSCI Islamic M-Series— FTSE Shariah6.5% |
| XINYI ENERGY HOLDINGS LIMITED | UNSCREENED | 0.21% | no in-house ratios for this holding |
| BROWN BROTHERS HARRIMAN & CO. | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 9 points of portfolio weight — 15.8% of it passes MSCI Islamic, 6.6% passes AAOIFI. 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 6.6% ratios fail on 67.1% 26.0% not rated under AAOIFI
ratios pass on 12.9% ratios fail on 60.8% 26.0% not rated under Usmani
ratios pass on 6.6% ratios fail on 66.1% 27.0% not rated under Dow Jones Islamic
ratios pass on 6.6% ratios fail on 66.1% 27.0% not rated under S&P Shariah
ratios pass on 15.8% ratios fail on 58.0% 26.0% not rated under MSCI Islamic
ratios pass on 6.6% ratios fail on 66.1% 27.0% not rated under MSCI Islamic M-Series
ratios pass on 15.8% ratios fail on 58.0% 26.0% not rated under FTSE Shariah
24 of 36 listed holdings carry our own per-methodology verdicts (74% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 14 (46% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| RNW RENEW ENERGY GLOBAL PLC | 6.01% |
| CWEN CLEARWAY ENERGY, INC. | 5.04% |
| D Dominion Energy, Inc. | 5.00% |
| NEE NEXTERA ENERGY, INC. | 4.53% |
| AQN.TO ALGONQUIN POWER & UTILITIES CORP. | 4.00% |
| BKW.SW BKW AG | 4.00% |
| EXC EXELON CORPORATION | 3.89% |
| ERG.MI ERG S.P.A. | 3.82% |
| PEG PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED | 3.75% |
| IBE.MC Iberdrola, S.A. | 3.26% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Redwheel Next Generation Power Infrastructure Fund (ECOIX) 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.
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 |
|---|---|---|
| EDP RENEWABLES SOCIEDAD ANONIMAnot matched to a ticker | 6.16% | Not screened |
| RNWRENEW ENERGY GLOBAL PLC | 6.01% | Non-compliant |
| CWENCLEARWAY ENERGY, INC. | 5.04% | Non-compliant |
| DDominion Energy, Inc. | 5.00% | Non-compliant |
| NEENEXTERA ENERGY, INC. | 4.53% | Non-compliant |
| ENEL - SPAnot matched to a ticker | 4.38% | Not screened |
| AQN.TOALGONQUIN POWER & UTILITIES CORP. | 4.00% | Non-compliant |
| BKW.SWBKW AG | 4.00% | Non-compliant |
| EXCEXELON CORPORATION | 3.89% | Non-compliant |
| ERG.MIERG S.P.A. | 3.82% | Non-compliant |
Top 10 of 36 holdings, 46.8% of the fund by weight. Every holding is screened, not only these.
The positions keeping this fund short of 100% compliant by weight.
Verdict history for ECOIX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
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.
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) | 47.60 | NEUTRAL |
| Stochastic %K (14) | 100.00 | SELL |
| CCI (20) | 32.57 | NEUTRAL |
| Williams %R (14) | 0.00 | SELL |
| MACD (12,26,9) | 0.03 | BUY |
| ROC (10) | 2.07 | BUY |
| Momentum (10) | 0.21 | BUY |
| EMA (10) | 10.26 | BUY |
| SMA (10) | 10.22 | BUY |
| EMA (20) | 10.33 | BUY |
| SMA (20) | 10.29 | BUY |
| EMA (30) | 10.41 | SELL |
| SMA (30) | 10.42 | SELL |
| EMA (50) | 10.55 | SELL |
| SMA (50) | 10.61 | SELL |
| EMA (100) | 10.76 | SELL |
| SMA (100) | 10.91 | SELL |
| EMA (200) | 10.86 | SELL |
| SMA (200) | 11.01 | SELL |
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
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.
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.