Verdicts genuinely change. Free email alert the moment FAN'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.
First Trust Global Wind Energy ETF ETF · First Trust Exchange-Traded Fund II
49 holdings · as of 2026-06-30 (3.5 months ago) The fund may have traded since. SEC Form N-PORT is filed quarterly and lags the period it covers, so these are the most recent holdings on file, not the fund’s holdings today.
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 104% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 44.31% of portfolio weight is in non-compliant holdings, over the 5% threshold.
49 holdings, 38 matched (77% of weight). Portfolio as of 2026-06-30, filed 2026-08-21. Source: SEC Form N-PORT.
1.12% of this portfolio’s income is non-permissible — weighted across holdings, computed over 75% of portfolio weight (37 of 49 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.
34.1% compliant 0.0% questionable 42.6% non-compliant 23.3% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| VWS.CO VESTAS WIND SYSTEMS A/S | COMPLIANT | 8.71% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| NDX1.DE NORDEX SE | COMPLIANT | 8.21% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ORSTED A/S | UNSCREENED | 7.50% | no in-house ratios for this holding |
| EDP RENEWABLES SA | UNSCREENED | 6.80% | no in-house ratios for this holding |
| NPI.TO NORTHLAND POWER INC | NON_COMPLIANT | 5.67% | AAOIFI126.3% Usmani53.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic51.8% MSCI Islamic M-Seriesfail FTSE Shariah51.8% |
| ENLT.TA ENLIGHT RENEWABLE ENERGY LTD | NON_COMPLIANT | 5.00% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MIZUHO SECURITIES USA LLC | UNSCREENED | 4.07% | no in-house ratios for this holding |
| B3H.F BORALEX INC | NON_COMPLIANT | 3.29% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ENERGIXS-RENEWABLE ENERGIES LTD | UNSCREENED | 2.73% | no in-house ratios for this holding |
| PRY.MI PRYSMIAN SPA | COMPLIANT | 2.73% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| ACA ARCOSA INC | COMPLIANT | 2.68% | AAOIFI21.0% Usmani28.5% Dow Jones Islamic28.9% S&P Shariah31.5% MSCI Islamic28.5% MSCI Islamic M-Series31.5% FTSE Shariah27.1% |
| GEV GE VERNOVA INC | COMPLIANT | 2.66% | AAOIFI1.1% Usmani3.5% Dow Jones Islamic1.7% S&P Shariah2.0% MSCI Islamic3.5% MSCI Islamic M-Series2.0% FTSE Shariah3.5% |
| TKR TIMKEN COMPANY (THE) | COMPLIANT | 2.65% | AAOIFI25.5% Usmani31.9% Dow Jones Islamic35.3% S&P Shariah36.7% MSCI Islamic31.9% MSCI Islamic M-Series36.7% FTSE Shariah30.0% |
| ERG.MI ERG SPA | NON_COMPLIANT | 2.27% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ANA.MC ACCIONA SA | NON_COMPLIANT | 2.15% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| LNT ALLIANT ENERGY CORP | NON_COMPLIANT | 2.09% | AAOIFI62.6% Usmani45.2% Dow Jones Islamic67.4% S&P Shariah74.1% MSCI Islamic44.4% MSCI Islamic M-Series74.1% FTSE Shariah44.4% |
| 0916.HK CHINA LONGYUAN POWER GROUP CORP LTD | NON_COMPLIANT | 2.09% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| IBE.MC IBERDROLA SA | NON_COMPLIANT | 2.09% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| RWE.DE RWE AG | NON_COMPLIANT | 1.99% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ENR.DE SIEMENS ENERGY AG | COMPLIANT | 1.91% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| ENEL.MI ENEL SPA | NON_COMPLIANT | 1.89% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NEE NEXTERA ENERGY INC | NON_COMPLIANT | 1.85% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| ENGI.PA ENGIE SA | NON_COMPLIANT | 1.85% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| CWEN CLEARWAY ENERGY INC | NON_COMPLIANT | 1.77% | AAOIFI151.8% Usmani59.0% Dow Jones Islamic159.3% S&P Shariah176.9% MSCI Islamic59.0% MSCI Islamic M-Series176.9% FTSE Shariah54.0% |
| SKF-B.ST SKF AB | COMPLIANT | 1.77% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| BKW.SW BKW AG | NON_COMPLIANT | 1.70% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 6501.T HITACHI LTD | COMPLIANT | 1.63% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 3402.T TORAY INDUSTRIES INC | NON_COMPLIANT | 1.60% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 2208.HK GOLDWIND SCIENCE&TECHNOLOGY CO LTD | NON_COMPLIANT | 1.55% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| AMSC AMERICAN SUPERCONDUCTOR CORP | COMPLIANT | 1.41% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| CENTURY IRON & STEEL INDUSTRIAL CO LTD | UNSCREENED | 1.12% | no in-house ratios for this holding |
| DEME.BR DEME GROUP NV | COMPLIANT | 1.09% | AAOIFI27.5% Usmani22.3% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic19.9% MSCI Islamic M-Seriesfail FTSE Shariah19.9% |
| CS WIND CORP | UNSCREENED | 1.07% | no in-house ratios for this holding |
| FUR.AS FUGRO NV | NON_COMPLIANT | 0.93% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 1072.HK DONGFANG ELECTRIC CORP LTD | NON_COMPLIANT | 0.92% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| RNW RENEW ENERGY GLOBAL PLC | NON_COMPLIANT | 0.76% | AAOIFIfail Usmani60.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic60.7% MSCI Islamic M-Seriesfail FTSE Shariah60.7% |
| BONHR.OL BONHEUR ASA | NON_COMPLIANT | 0.62% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| PNE3.DE PNE AG | NON_COMPLIANT | 0.55% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ENERGIE KONTOR AG | UNSCREENED | 0.46% | no in-house ratios for this holding |
| 1798.HK CHINA DATANG CORP RENEWABLE POWER COMPANY LTD | NON_COMPLIANT | 0.43% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0956.HK CHINA SUNTIEN GREEN ENERGY CORP LTD | NON_COMPLIANT | 0.39% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0182.HK CONCORD NEW ENERGY GROUP LTD | NON_COMPLIANT | 0.39% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| UNISON CO LTD | UNSCREENED | 0.25% | no in-house ratios for this holding |
| SGL.DE SGL CARBON SE | NON_COMPLIANT | 0.24% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ORROEN ENERGY AB | UNSCREENED | 0.17% | no in-house ratios for this holding |
| GWIND.IS GALATA WIND ENERJI AS | NON_COMPLIANT | 0.13% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SIFG.AS SIF HOLDING NV | NON_COMPLIANT | 0.10% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| CS BEARING CO LTD | UNSCREENED | 0.05% | no in-house ratios for this holding |
| MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS | UNSCREENED | 0.03% | no in-house ratios for this holding |
The published standards disagree about this fund by 21 points of portfolio weight — 42.9% of it passes FTSE Shariah, 22.1% passes MSCI Islamic M-Series. 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 34.0% ratios fail on 44.3% 25.7% not rated under AAOIFI
ratios pass on 41.0% ratios fail on 37.4% 25.7% not rated under Usmani
ratios pass on 30.3% ratios fail on 48.1% 25.7% not rated under Dow Jones Islamic
ratios pass on 30.3% ratios fail on 48.1% 25.7% not rated under S&P Shariah
ratios pass on 41.3% ratios fail on 37.0% 25.7% not rated under MSCI Islamic
ratios pass on 22.1% ratios fail on 56.3% 25.7% not rated under MSCI Islamic M-Series
ratios pass on 42.9% ratios fail on 35.4% 25.7% not rated under FTSE Shariah
38 of 49 listed holdings carry our own per-methodology verdicts (80% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 9 (21% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| NPI.TO NORTHLAND POWER INC | 5.67% |
| ENLT.TA ENLIGHT RENEWABLE ENERGY LTD | 5.00% |
| B3H.F BORALEX INC | 3.29% |
| ERG.MI ERG SPA | 2.27% |
| ANA.MC ACCIONA SA | 2.15% |
| LNT ALLIANT ENERGY CORP | 2.09% |
| 0916.HK CHINA LONGYUAN POWER GROUP CORP LTD | 2.09% |
| IBE.MC IBERDROLA SA | 2.09% |
| RWE.DE RWE AG | 1.99% |
| ENEL.MI ENEL SPA | 1.89% |
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.
First Trust Global Wind Energy ETF (FAN) 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 FAN — 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) | 35.40 | NEUTRAL |
| Stochastic %K (14) | 25.71 | NEUTRAL |
| CCI (20) | -142.44 | BUY |
| Williams %R (14) | -74.29 | NEUTRAL |
| MACD (12,26,9) | -0.05 | SELL |
| ROC (10) | -2.76 | SELL |
| Momentum (10) | -0.62 | SELL |
| EMA (10) | 22.23 | SELL |
| SMA (10) | 22.25 | SELL |
| EMA (20) | 22.53 | SELL |
| SMA (20) | 22.63 | SELL |
| EMA (30) | 22.76 | SELL |
| SMA (30) | 22.88 | SELL |
| EMA (50) | 23.11 | SELL |
| SMA (50) | 23.28 | SELL |
| EMA (100) | 23.51 | SELL |
| SMA (100) | 23.90 | SELL |
| EMA (200) | 23.13 | SELL |
| SMA (200) | 23.93 | SELL |
The fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the index. The index provides a benchmark for investors interested in tracking public companies throughout the world that are active in the wind energy industry. In order to be eligible for inclusion in the index, a security must be issued by a company that is actively engaged in some aspect of the wind energy industry. The fund is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
No real edge — avoid
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 | BEARISH | 43 |
| 🕐 1H | BEARISH | 46 |
| ⏱ 15-Min | BULLISH | 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 2026-10-06 · Asset managers net 906615 (+2612)
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.