FMFETF / FundFirst Trust Managed Futures Strategy Fund
Verdicts genuinely change. Free email alert the moment FMF's does — no target price to set, unlike a price alert.
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 Managed Futures Strategy Fund · First Trust Exchange-Traded Fund V
66 holdings
NON-COMPLIANT At least 35.02% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 60% turns out to be. Matching more holdings can only raise this share, never lower it.
34.77% 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.
66 holdings, 7 matched (37% of weight). Portfolio as of 2026-06-30, filed 2026-08-21. Source: SEC Form N-PORT.
80.57% of this portfolio’s income is non-permissible — weighted across holdings, computed over 0% of portfolio weight (2 of 66 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.
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 (66)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS | UNSCREENED | 28.56% | no in-house ratios for this holding |
| DREYFUS GOVERNMENT CASH MANAGEMENT FUNDS | UNSCREENED | 28.56% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 10.99% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 9.17% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 7.31% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 7.30% | no in-house ratios for this holding |
| ICE FUTURES U.S. | UNSCREENED | 0.38% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.35% | no in-house ratios for this holding |
| THE LONDON METAL EXCHANGE | UNSCREENED | 0.27% | no in-house ratios for this holding |
| THE LONDON METAL EXCHANGE | UNSCREENED | 0.25% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.22% | no in-house ratios for this holding |
| Osaka Exchange,Inc | UNSCREENED | 0.17% | no in-house ratios for this holding |
| CME CME Group Inc. | NON_COMPLIANT | 0.16% | AAOIFI0.4% Usmani0.2% Dow Jones Islamic2.3% S&P Shariah2.5% MSCI Islamic0.2% MSCI Islamic M-Series2.5% FTSE Shariah0.0% |
| NEW YORK MERCANTILE EXCHANGE | UNSCREENED | 0.14% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.11% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.10% | no in-house ratios for this holding |
| CME CME Group Inc. | NON_COMPLIANT | 0.09% | AAOIFI0.4% Usmani0.2% Dow Jones Islamic2.3% S&P Shariah2.5% MSCI Islamic0.2% MSCI Islamic M-Series2.5% FTSE Shariah0.0% |
| ICE FUTURES EUROPE | UNSCREENED | 0.09% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.07% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.06% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.06% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.06% | no in-house ratios for this holding |
| MEFF SOCIEDAD RECTORA DEL MERCADO DE PRODUCTOS DERIVADOS, S.A.U. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| ICE FUTURES EUROPE | UNSCREENED | 0.05% | no in-house ratios for this holding |
| THE LONDON METAL EXCHANGE | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Osaka Exchange,Inc | UNSCREENED | 0.04% | no in-house ratios for this holding |
| THE LONDON METAL EXCHANGE | UNSCREENED | 0.04% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.04% | no in-house ratios for this holding |
| ICE FUTURES U.S. | UNSCREENED | 0.04% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.03% | no in-house ratios for this holding |
| EUREX Clearing Aktiengesellschaft | UNSCREENED | 0.03% | no in-house ratios for this holding |
| EUREX Clearing Aktiengesellschaft | UNSCREENED | 0.03% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.03% | no in-house ratios for this holding |
| EUREX Clearing Aktiengesellschaft | UNSCREENED | 0.03% | no in-house ratios for this holding |
| Osaka Exchange,Inc | UNSCREENED | 0.03% | no in-house ratios for this holding |
| ICE FUTURES U.S. | UNSCREENED | 0.03% | no in-house ratios for this holding |
| EUREX Clearing Aktiengesellschaft | UNSCREENED | 0.02% | no in-house ratios for this holding |
| ITALIAN DERIVATIVES MARKET | UNSCREENED | 0.02% | no in-house ratios for this holding |
| NEW YORK MERCANTILE EXCHANGE | UNSCREENED | 0.02% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.02% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.02% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| MONTREAL EXCHANGE INC. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| NEW YORK MERCANTILE EXCHANGE | UNSCREENED | 0.02% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.01% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.01% | no in-house ratios for this holding |
| EUREX Clearing Aktiengesellschaft | UNSCREENED | 0.01% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.01% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.01% | no in-house ratios for this holding |
| MONTREAL EXCHANGE INC. | UNSCREENED | 0.01% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.01% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.01% | no in-house ratios for this holding |
| ICE FUTURES U.S. | UNSCREENED | 0.01% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | NON_COMPLIANT | 0.01% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.01% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.01% | no in-house ratios for this holding |
| Nasdaq Holding AB | UNSCREENED | 0.01% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.00% | no in-house ratios for this holding |
| ASX 24 | UNSCREENED | 0.00% | no in-house ratios for this holding |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| CHICAGO MERCANTILE EXCHANGE | UNSCREENED | 0.00% | no in-house ratios for this holding |
| EURONEXT PARIS SA | UNSCREENED | 0.00% | no in-house ratios for this holding |
| ICE ENDEX MARKETS B.V. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| ICE FUTURES EUROPE | UNSCREENED | 0.00% | no in-house ratios for this holding |
| ICE FUTURES U.S. | UNSCREENED | 0.00% | no in-house ratios for this holding |
All 7 published standards agree about this fund to within 0.0 points of portfolio weight.
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 0.0% ratios fail on 0.3% 95.0% not rated under AAOIFI
ratios pass on 0.0% ratios fail on 0.3% 95.0% not rated under Usmani
ratios pass on 0.0% ratios fail on 0.3% 95.0% not rated under Dow Jones Islamic
ratios pass on 0.0% ratios fail on 0.3% 95.0% not rated under S&P Shariah
ratios pass on 0.0% ratios fail on 0.3% 95.0% not rated under MSCI Islamic
ratios pass on 0.0% ratios fail on 0.3% 95.0% not rated under MSCI Islamic M-Series
ratios pass on 0.0% ratios fail on 0.3% 95.0% not rated under FTSE Shariah
1 of 66 listed holdings carry our own per-methodology verdicts (0% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none.
| Non-compliant holding | Weight |
|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 10.99% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 9.17% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 7.31% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 7.30% |
| CME CME Group Inc. | 0.16% |
| CME CME Group Inc. | 0.09% |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | 0.01% |
Methodology breakdown computing — it will appear here on its own.
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Why this signal?
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
First Trust Managed Futures Strategy Fund (FMF) 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.
🕌 In-house Compliance Research
Computing the full ratio and business-activity breakdown for FMF — 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.
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) | 38.30 | NEUTRAL |
| Stochastic %K (14) | 26.58 | NEUTRAL |
| CCI (20) | -157.73 | BUY |
| Williams %R (14) | -73.42 | NEUTRAL |
| MACD (12,26,9) | -0.17 | SELL |
| ROC (10) | -1.91 | SELL |
| Momentum (10) | -0.99 | SELL |
| EMA (10) | 51.43 | SELL |
| SMA (10) | 51.62 | SELL |
| EMA (20) | 51.69 | SELL |
| SMA (20) | 51.88 | SELL |
| EMA (30) | 51.74 | SELL |
| SMA (30) | 52.00 | SELL |
| EMA (50) | 51.62 | SELL |
| SMA (50) | 51.80 | SELL |
| EMA (100) | 51.16 | SELL |
| SMA (100) | 50.91 | BUY |
| EMA (200) | 50.23 | BUY |
| SMA (200) | 50.51 | BUY |
About First Trust Managed Futures Strategy Fund
The fund is an actively managed exchange-traded fund that seeks to achieve positive returns that are not directly correlated to broad market equity or fixed income returns. Under normal market conditions, the fund and a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands, invest significantly in a portfolio of exchange-listed futures.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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.
| Timeframe | Bias | Bars |
|---|---|---|
| 📅 Daily | BEARISH | 44 |
| 🕐 1H | BULLISH | 48 |
| ⏱ 15-Min | BULLISH | 130 |
| ⏲ 5-Min | BULLISH | 234 |
Momentum & Volume
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.
Peer Movement
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.
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.
Insider Activity (90d)
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
COT Positioning — E-MINI S&P 500 - CHICAGO MERCANTILE EXCHANGE
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 2026-11-03 · Asset managers net 928584 (+5135)
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.