FSMMXETF / FundFS Multi-Strategy Alternatives Fund
Verdicts genuinely change. Free email alert the moment FSMMX'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.
FS Multi-Strategy Alternatives Fund · ADVISORS' INNER CIRCLE III
670 holdings
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 523% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
UNVERIFIED 55% of this fund's gross exposure is short across 90 positions. Our look-through asks what a fund owns and whether owning it is permissible; a short position is not ownership but an obligation to deliver something the fund does not hold, so a verdict computed as though this were a long-only portfolio would not describe it. The holdings are listed below, with the short positions marked.
670 holdings, 226 matched (50% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.
47.59% of this portfolio’s income is non-permissible — weighted across holdings, computed over 6% of portfolio weight (81 of 670 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 (670) · showing 1–250
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| Federal National Mortgage Association | NON_COMPLIANT | 105.43% | no in-house ratios for this holding |
| CHEEVERS & CO | UNSCREENED | 77.19% | no in-house ratios for this holding |
| United States of America | NON_COMPLIANT | 75.07% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 25.41% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.88% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.87% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.86% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.86% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.85% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.85% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.84% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.83% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.83% | no in-house ratios for this holding |
| N/A | UNSCREENED | 11.83% | no in-house ratios for this holding |
| VXX BARCLAYS BANK PLC | NON_COMPLIANT | 10.15% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| N/A | UNSCREENED | 4.28% | no in-house ratios for this holding |
| DEUTSCHE BANK SECURITIES, INC. | UNSCREENED | 4.02% | no in-house ratios for this holding |
| VXX BARCLAYS BANK PLC | NON_COMPLIANT | 3.64% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| GLE.PA SOCIETE GENERALE SA | NON_COMPLIANT | 3.23% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| United States of America | NON_COMPLIANT | 2.67% | no in-house ratios for this holding |
| VXX BARCLAYS BANK PLC | NON_COMPLIANT | 2.65% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| N/A | UNSCREENED | 2.18% | no in-house ratios for this holding |
| FANNIE MAE OR FREDDIE MAC | NON_COMPLIANT | 1.88% | no in-house ratios for this holding |
| FANNIE MAE OR FREDDIE MAC | NON_COMPLIANT | 1.88% | no in-house ratios for this holding |
| United States of America | NON_COMPLIANT | 1.56% | no in-house ratios for this holding |
| N/A | UNSCREENED | 1.41% | no in-house ratios for this holding |
| N/A | UNSCREENED | 1.31% | no in-house ratios for this holding |
| iShares Bitcoin Trust ETF | UNSCREENED | 1.21% | no in-house ratios for this holding |
| SWCH COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.91% | no in-house ratios for this holding |
| ELMWOOD CLO | UNSCREENED | 0.75% | no in-house ratios for this holding |
| NORTHWOODS CAPITAL LIMITED | UNSCREENED | 0.72% | no in-house ratios for this holding |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.69% | no in-house ratios for this holding |
| USD-SOFR 4.40 01/16/2035 | UNSCREENED | 0.60% | no in-house ratios for this holding |
| BRKR BRUKER CORPORATION | COMPLIANT | 0.58% | AAOIFI19.3% Usmani30.1% Dow Jones Islamic25.8% S&P Shariah22.6% MSCI Islamic30.1% MSCI Islamic M-Series22.6% FTSE Shariah30.1% |
| USD-SOFR 6.40 01/16/2035 | UNSCREENED | 0.55% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.55% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.55% | no in-house ratios for this holding |
| BABA Alibaba Group Holding Limited | COMPLIANT | 0.53% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| N/A | UNSCREENED | 0.52% | no in-house ratios for this holding |
| BRKR BRUKER CORPORATION | COMPLIANT | 0.52% | AAOIFI19.3% Usmani30.1% Dow Jones Islamic25.8% S&P Shariah22.6% MSCI Islamic30.1% MSCI Islamic M-Series22.6% FTSE Shariah30.1% |
| GOOG ALPHABET INC. | QUESTIONABLE | 0.52% | AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9% |
| BX TRUST | UNSCREENED | 0.51% | no in-house ratios for this holding |
| RENEW FINANCIAL GROUP LLC | UNSCREENED | 0.50% | no in-house ratios for this holding |
| PPL CAPITAL FUNDING, INC. | UNSCREENED | 0.50% | no in-house ratios for this holding |
| PCG PG&E CORPORATION | NON_COMPLIANT | 0.50% | AAOIFI201.1% Usmani43.7% Dow Jones Islamic141.7% S&P Shariah142.1% MSCI Islamic43.7% MSCI Islamic M-Series142.1% FTSE Shariah43.3% |
| MAXIM CRANE WORKS HOLDINGS CAPITAL, LLC | UNSCREENED | 0.50% | no in-house ratios for this holding |
| BX TRUST | UNSCREENED | 0.50% | no in-house ratios for this holding |
| RADNOR RE/ESSENT | UNSCREENED | 0.49% | no in-house ratios for this holding |
| MCHP MICROCHIP TECHNOLOGY INCORPORATED | COMPLIANT | 0.49% | AAOIFI13.8% Usmani38.2% Dow Jones Islamic15.3% S&P Shariah14.3% MSCI Islamic38.2% MSCI Islamic M-Series14.3% FTSE Shariah37.2% |
| CVNA CARVANA CO. | COMPLIANT | 0.48% | AAOIFI6.8% Usmani38.2% Dow Jones Islamic8.2% S&P Shariah10.9% MSCI Islamic38.2% MSCI Islamic M-Series10.9% FTSE Shariah35.5% |
| ORCL ORACLE CORPORATION | NON_COMPLIANT | 0.45% | AAOIFI34.1% Usmani64.0% Dow Jones Islamic30.7% S&P Shariah35.2% MSCI Islamic61.0% MSCI Islamic M-Series35.2% FTSE Shariah49.5% |
| CMS CMS ENERGY CORPORATION | NON_COMPLIANT | 0.45% | AAOIFI89.2% Usmani47.2% Dow Jones Islamic90.3% S&P Shariah98.1% MSCI Islamic46.5% MSCI Islamic M-Series98.1% FTSE Shariah46.5% |
| N/A | UNSCREENED | 0.45% | no in-house ratios for this holding |
| FLEXENTIAL LLC | UNSCREENED | 0.44% | no in-house ratios for this holding |
| HERA FINANCING DAC | UNSCREENED | 0.44% | no in-house ratios for this holding |
| 9961.HK TRIP.COM GROUP LIMITED | NON_COMPLIANT | 0.44% | AAOIFIfail Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| MCHP MICROCHIP TECHNOLOGY INCORPORATED | COMPLIANT | 0.43% | AAOIFI13.8% Usmani38.2% Dow Jones Islamic15.3% S&P Shariah14.3% MSCI Islamic38.2% MSCI Islamic M-Series14.3% FTSE Shariah37.2% |
| RADNOR RE/ESSENT | UNSCREENED | 0.42% | no in-house ratios for this holding |
| BX TRUST | UNSCREENED | 0.41% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.41% | no in-house ratios for this holding |
| BX TRUST | UNSCREENED | 0.41% | no in-house ratios for this holding |
| TEAM HEALTH HOLDINGS, INC. | UNSCREENED | 0.40% | no in-house ratios for this holding |
| VINE TRUST | UNSCREENED | 0.39% | no in-house ratios for this holding |
| GME GAMESTOP CORP. | NON_COMPLIANT | 0.39% | AAOIFI1.6% Usmani1.6% Dow Jones Islamic1.6% S&P Shariah1.9% MSCI Islamic1.6% MSCI Islamic M-Series1.9% FTSE Shariah0.1% |
| EG GLOBAL FINANCE PLC | UNSCREENED | 0.38% | no in-house ratios for this holding |
| United States of America | NON_COMPLIANT | 0.37% | no in-house ratios for this holding |
| FE FIRSTENERGY CORP. | NON_COMPLIANT | 0.37% | AAOIFI101.8% Usmani48.1% Dow Jones Islamic111.3% S&P Shariah119.2% MSCI Islamic48.0% MSCI Islamic M-Series119.2% FTSE Shariah47.5% |
| Government National Mortgage Association | NON_COMPLIANT | 0.37% | no in-house ratios for this holding |
| GTN Gray Media, Inc | NON_COMPLIANT | 0.37% | AAOIFI1180.6% Usmani56.4% Dow Jones Islamic1327.9% S&P Shariah1203.9% MSCI Islamic56.4% MSCI Islamic M-Series1203.9% FTSE Shariah55.6% |
| COIN COINBASE GLOBAL, INC. | NON_COMPLIANT | 0.36% | AAOIFI13.1% Usmani23.2% Dow Jones Islamic9.7% S&P Shariah10.8% MSCI Islamic23.2% MSCI Islamic M-Series10.8% FTSE Shariah22.5% |
| GOOG ALPHABET INC. | QUESTIONABLE | 0.36% | AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9% |
| CONE COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.36% | no in-house ratios for this holding |
| CONSOLIDATED COMMUNICATIONS LLC | UNSCREENED | 0.36% | no in-house ratios for this holding |
| CARVANA AUTO RECEIVABLES TRUST | UNSCREENED | 0.35% | no in-house ratios for this holding |
| FLEXENTIAL LLC | UNSCREENED | 0.34% | no in-house ratios for this holding |
| ORCL ORACLE CORPORATION | NON_COMPLIANT | 0.34% | AAOIFI34.1% Usmani64.0% Dow Jones Islamic30.7% S&P Shariah35.2% MSCI Islamic61.0% MSCI Islamic M-Series35.2% FTSE Shariah49.5% |
| CONE COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.34% | no in-house ratios for this holding |
| US TREASURY N/B | NON_COMPLIANT | 0.34% | no in-house ratios for this holding |
| AFFIRM MASTER TRUST | UNSCREENED | 0.34% | no in-house ratios for this holding |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.34% | no in-house ratios for this holding |
| LNT ALLIANT ENERGY CORPORATION | NON_COMPLIANT | 0.34% | AAOIFI62.6% Usmani45.2% Dow Jones Islamic67.4% S&P Shariah74.1% MSCI Islamic44.4% MSCI Islamic M-Series74.1% FTSE Shariah44.4% |
| LUMMUS TECHNOLOGY HOLDINGS V LLC | UNSCREENED | 0.33% | no in-house ratios for this holding |
| SWITCH ABS ISSUER LLC | UNSCREENED | 0.33% | no in-house ratios for this holding |
| SWITCH ABS ISSUER LLC | UNSCREENED | 0.33% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.33% | no in-house ratios for this holding |
| HPE HEWLETT PACKARD ENTERPRISE COMPANY | NON_COMPLIANT | 0.32% | AAOIFI29.3% Usmani24.2% Dow Jones Islamic61.2% S&P Shariah69.5% MSCI Islamic24.2% MSCI Islamic M-Series69.5% FTSE Shariah24.2% |
| BNP.PA BNP Paribas | NON_COMPLIANT | 0.31% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SWITCH ABS ISSUER LLC | UNSCREENED | 0.31% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.31% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.31% | no in-house ratios for this holding |
| CONE TRUST | UNSCREENED | 0.31% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.30% | no in-house ratios for this holding |
| HPE HEWLETT PACKARD ENTERPRISE COMPANY | NON_COMPLIANT | 0.30% | AAOIFI29.3% Usmani24.2% Dow Jones Islamic61.2% S&P Shariah69.5% MSCI Islamic24.2% MSCI Islamic M-Series69.5% FTSE Shariah24.2% |
| SERVICE PROPERTIES TRUST | UNSCREENED | 0.30% | no in-house ratios for this holding |
| MIDCAP FINANCIAL ISSUER TRUST | UNSCREENED | 0.30% | no in-house ratios for this holding |
| GLS AUTO RECEIVABLES TRUST | UNSCREENED | 0.30% | no in-house ratios for this holding |
| MATCH GROUP FINANCECO 3, INC. | UNSCREENED | 0.29% | no in-house ratios for this holding |
| BABA Alibaba Group Holding Limited | COMPLIANT | 0.29% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| Federal National Mortgage Association | NON_COMPLIANT | 0.29% | no in-house ratios for this holding |
| CROSS MORTGAGE TRUST | UNSCREENED | 0.29% | no in-house ratios for this holding |
| RWT REDWOOD TRUST, INC. | NON_COMPLIANT | 0.28% | AAOIFIfail Usmani— Dow Jones Islamicfail S&P Shariah— MSCI Islamic— MSCI Islamic M-Seriesfail FTSE Shariah— |
| Freddie Mac | NON_COMPLIANT | 0.28% | no in-house ratios for this holding |
| SWCH COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.28% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.27% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.27% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.27% | no in-house ratios for this holding |
| NEE NEXTERA ENERGY, INC. | NON_COMPLIANT | 0.26% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| IRIS ESCROW ISSUER CORPORATION | UNSCREENED | 0.26% | no in-house ratios for this holding |
| FONTAINEBLEAU MIAMI BEACH TRUST | UNSCREENED | 0.26% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.26% | no in-house ratios for this holding |
| BX TRUST | UNSCREENED | 0.26% | no in-house ratios for this holding |
| CROSS MORTGAGE TRUST | UNSCREENED | 0.26% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.25% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.25% | no in-house ratios for this holding |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.25% | no in-house ratios for this holding |
| NEW ENTERPRISE STONE & LIME CO., INC. | UNSCREENED | 0.25% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.24% | no in-house ratios for this holding |
| ACRISURE, LLC | UNSCREENED | 0.24% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.24% | no in-house ratios for this holding |
| KINETIC ABS ISSUER LLC | UNSCREENED | 0.24% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.24% | no in-house ratios for this holding |
| USD-SOFR 4.27 01/16/2035 | UNSCREENED | 0.24% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.23% | no in-house ratios for this holding |
| BNP.PA BNP Paribas | NON_COMPLIANT | 0.23% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ARCHES BUYER INC. | UNSCREENED | 0.23% | no in-house ratios for this holding |
| GLOBAL ATLANTIC (FIN) COMPANY | UNSCREENED | 0.23% | no in-house ratios for this holding |
| SPX-SOFR BINARY CALL OPTION 12/19/25 | UNSCREENED | 0.23% | no in-house ratios for this holding |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES LTD | UNSCREENED | 0.23% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.23% | no in-house ratios for this holding |
| EXETER AUTOMOBILE RECEIVABLES TRUST | UNSCREENED | 0.23% | no in-house ratios for this holding |
| MAGNETITE CLO, LIMITED | UNSCREENED | 0.23% | no in-house ratios for this holding |
| BLP COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.23% | no in-house ratios for this holding |
| SCG TRUST | UNSCREENED | 0.23% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.23% | no in-house ratios for this holding |
| WEST COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.23% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.23% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.23% | no in-house ratios for this holding |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES LTD | UNSCREENED | 0.23% | no in-house ratios for this holding |
| EXETER AUTOMOBILE RECEIVABLES TRUST | UNSCREENED | 0.22% | no in-house ratios for this holding |
| MIDCAP FINANCIAL ISSUER TRUST | UNSCREENED | 0.22% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.22% | no in-house ratios for this holding |
| CRSNT TRUST | UNSCREENED | 0.22% | no in-house ratios for this holding |
| HAYFIN EMERALD CLO DAC | UNSCREENED | 0.22% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.21% | no in-house ratios for this holding |
| AST SPACEMOBILE, INC. | UNSCREENED | 0.21% | no in-house ratios for this holding |
| UNITI FIBER ABS ISSUER LLC | UNSCREENED | 0.21% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.21% | no in-house ratios for this holding |
| TOWD POINT ASSET TRUST | UNSCREENED | 0.21% | no in-house ratios for this holding |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.21% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.20% | no in-house ratios for this holding |
| PPL PPL CORPORATION | NON_COMPLIANT | 0.20% | AAOIFI77.2% Usmani43.2% Dow Jones Islamic78.6% S&P Shariah86.6% MSCI Islamic43.2% MSCI Islamic M-Series86.6% FTSE Shariah43.2% |
| Federal National Mortgage Association | NON_COMPLIANT | 0.20% | no in-house ratios for this holding |
| HARBOR PARK CLO LTD | UNSCREENED | 0.20% | no in-house ratios for this holding |
| EXETER AUTOMOBILE RECEIVABLES TRUST | UNSCREENED | 0.20% | no in-house ratios for this holding |
| DEALER TIRE FINANCIAL, LLC | UNSCREENED | 0.20% | no in-house ratios for this holding |
| SAIF SECURITIZATION TRUST | UNSCREENED | 0.20% | no in-house ratios for this holding |
| ALTICE FRANCE SAS | UNSCREENED | 0.20% | no in-house ratios for this holding |
| LD HOLDINGS GROUP LLC | UNSCREENED | 0.20% | no in-house ratios for this holding |
| FE FIRSTENERGY CORP. | NON_COMPLIANT | 0.19% | AAOIFI101.8% Usmani48.1% Dow Jones Islamic111.3% S&P Shariah119.2% MSCI Islamic48.0% MSCI Islamic M-Series119.2% FTSE Shariah47.5% |
| MF1 LTD | UNSCREENED | 0.19% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.19% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.19% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.19% | no in-house ratios for this holding |
| BNP.PA BNP Paribas | NON_COMPLIANT | 0.19% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| USD-SOFR 4.27 01/16/2035 | UNSCREENED | 0.19% | no in-house ratios for this holding |
| NEE NEXTERA ENERGY, INC. | NON_COMPLIANT | 0.19% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| BNP.PA BNP Paribas | NON_COMPLIANT | 0.19% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CPS AUTO RECEIVABLES TRUST | UNSCREENED | 0.19% | no in-house ratios for this holding |
| BARC.L Barclays | NON_COMPLIANT | 0.18% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Freddie Mac | NON_COMPLIANT | 0.18% | no in-house ratios for this holding |
| LNT ALLIANT ENERGY CORPORATION | NON_COMPLIANT | 0.18% | AAOIFI62.6% Usmani45.2% Dow Jones Islamic67.4% S&P Shariah74.1% MSCI Islamic44.4% MSCI Islamic M-Series74.1% FTSE Shariah44.4% |
| CROSS MORTGAGE TRUST | UNSCREENED | 0.18% | no in-house ratios for this holding |
| JUNIPER VALLEY PARK CLO LTD | UNSCREENED | 0.18% | no in-house ratios for this holding |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.18% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.18% | no in-house ratios for this holding |
| FIDIUM FIBER LLC | UNSCREENED | 0.17% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| REGIONAL MANAGEMENT ISSUANCE TRUST | UNSCREENED | 0.17% | no in-house ratios for this holding |
| CMS CMS ENERGY CORPORATION | NON_COMPLIANT | 0.17% | AAOIFI89.2% Usmani47.2% Dow Jones Islamic90.3% S&P Shariah98.1% MSCI Islamic46.5% MSCI Islamic M-Series98.1% FTSE Shariah46.5% |
| Federal National Mortgage Association | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| BSPDF ISSUER LTD | UNSCREENED | 0.17% | no in-house ratios for this holding |
| UPSTART SECURITIZATION TRUST | UNSCREENED | 0.17% | no in-house ratios for this holding |
| CROSS MORTGAGE TRUST | UNSCREENED | 0.17% | no in-house ratios for this holding |
| SWCH COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.17% | no in-house ratios for this holding |
| GME GAMESTOP CORP. | NON_COMPLIANT | 0.16% | AAOIFI1.6% Usmani1.6% Dow Jones Islamic1.6% S&P Shariah1.9% MSCI Islamic1.6% MSCI Islamic M-Series1.9% FTSE Shariah0.1% |
| NEPTUNE BIDCO US INC. | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| COMM MORTGAGE TRUST | UNSCREENED | 0.16% | no in-house ratios for this holding |
| SWITCH ABS ISSUER LLC | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| THE NASSAU COMPANIES OF NEW YORK | UNSCREENED | 0.16% | no in-house ratios for this holding |
| ARBOR REALTY SR, INC. | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| NOG NORTHERN OIL AND GAS, INC. | NON_COMPLIANT | 0.16% | AAOIFI98.7% Usmani46.8% Dow Jones Islamic104.4% S&P Shariah96.1% MSCI Islamic46.8% MSCI Islamic M-Series96.1% FTSE Shariah46.8% |
| UPGRADE RECEIVABLES TRUST | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| BLUE OWL CREDIT INCOME CORP. | UNSCREENED | 0.16% | no in-house ratios for this holding |
| EXETER AUTOMOBILE RECEIVABLES TRUST | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Mohegan Tribal Gaming Authority | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.15% | no in-house ratios for this holding |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST | UNSCREENED | 0.15% | no in-house ratios for this holding |
| ARBOR REALTY SR, INC. | UNSCREENED | 0.15% | no in-house ratios for this holding |
| BURFORD CAPITAL GLOBAL FINANCE LLC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| BW REAL ESTATE, INC. | UNSCREENED | 0.15% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.15% | no in-house ratios for this holding |
| BNP | UNSCREENED | 0.15% | no in-house ratios for this holding |
| U.S. ACUTE CARE SOLUTIONS, LLC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| ARBOR REALTY SR, INC. | UNSCREENED | 0.15% | no in-house ratios for this holding |
| ALLO ISSUER LLC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| PLANET FINANCIAL GROUP, LLC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| CARVANA AUTO RECEIVABLES TRUST | UNSCREENED | 0.15% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.15% | no in-house ratios for this holding |
| AVIANCA MIDCO 2 PLC | UNSCREENED | 0.14% | no in-house ratios for this holding |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.14% | no in-house ratios for this holding |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST | UNSCREENED | 0.14% | no in-house ratios for this holding |
| FLATIRON CLO LTD | UNSCREENED | 0.14% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.14% | no in-house ratios for this holding |
| CLARIOS GLOBAL LP | UNSCREENED | 0.14% | no in-house ratios for this holding |
| CLNY TRUST | UNSCREENED | 0.14% | no in-house ratios for this holding |
| GOLUB CAPITAL PARTNERS CLO LTD | UNSCREENED | 0.14% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.14% | no in-house ratios for this holding |
| AFFIRM ASSET SECURITIZATION TRUST | UNSCREENED | 0.14% | no in-house ratios for this holding |
| PRAA PRA GROUP, INC. | NON_COMPLIANT | 0.14% | AAOIFI525.0% Usmani71.8% Dow Jones Islamic540.1% S&P Shariah500.7% MSCI Islamic71.8% MSCI Islamic M-Series500.7% FTSE Shariah71.8% |
| AST SPACEMOBILE, INC. | UNSCREENED | 0.14% | no in-house ratios for this holding |
| ALIGNED DATA CENTERS | UNSCREENED | 0.14% | no in-house ratios for this holding |
| Federal National Mortgage Association | NON_COMPLIANT | 0.14% | no in-house ratios for this holding |
| BRSP BRIGHTSPIRE CAPITAL | NON_COMPLIANT | 0.14% | AAOIFI604.5% Usmani73.3% Dow Jones Islamic444.7% S&P Shariah448.1% MSCI Islamic73.3% MSCI Islamic M-Series448.1% FTSE Shariah73.3% |
| BAML | UNSCREENED | 0.14% | no in-house ratios for this holding |
| GLS AUTO RECEIVABLES TRUST | UNSCREENED | 0.14% | no in-house ratios for this holding |
| SYNERGY INFRASTRUCTURE HOLDINGS, LLC | UNSCREENED | 0.14% | no in-house ratios for this holding |
| OHA CREDIT PARTNERS LTD | UNSCREENED | 0.13% | no in-house ratios for this holding |
| OHA CREDIT PARTNERS LTD | UNSCREENED | 0.13% | no in-house ratios for this holding |
| COMM MORTGAGE TRUST | UNSCREENED | 0.13% | no in-house ratios for this holding |
| REGATTA FUNDING LTD | UNSCREENED | 0.13% | no in-house ratios for this holding |
| BNP.PA BNP Paribas | NON_COMPLIANT | 0.13% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Federal National Mortgage Association | NON_COMPLIANT | 0.13% | no in-house ratios for this holding |
| BNP.PA BNP Paribas | NON_COMPLIANT | 0.13% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| JPM Chase | UNSCREENED | 0.13% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.13% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.13% | no in-house ratios for this holding |
| Freddie Mac | NON_COMPLIANT | 0.12% | no in-house ratios for this holding |
| Government National Mortgage Association | NON_COMPLIANT | 0.12% | no in-house ratios for this holding |
| A&D MORTGAGE TRUST | UNSCREENED | 0.12% | no in-house ratios for this holding |
| ANCHORAGE CAPITAL CLO LTD | UNSCREENED | 0.12% | no in-house ratios for this holding |
The published standards disagree about this fund by 3 points of portfolio weight — 5.5% of it passes Dow Jones Islamic, 2.7% passes MSCI Islamic. 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 4.8% ratios fail on 30.0% 488.0% not rated under AAOIFI
ratios pass on 3.8% ratios fail on 30.0% 489.0% not rated under Usmani
ratios pass on 5.5% ratios fail on 28.5% 488.8% not rated under Dow Jones Islamic
ratios pass on 4.7% ratios fail on 28.9% 489.1% not rated under S&P Shariah
ratios pass on 2.7% ratios fail on 30.0% 490.1% not rated under MSCI Islamic
ratios pass on 4.7% ratios fail on 29.2% 488.8% not rated under MSCI Islamic M-Series
ratios pass on 3.8% ratios fail on 30.0% 489.0% not rated under FTSE Shariah
60 of 670 listed holdings carry our own per-methodology verdicts (35% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 51 (29% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
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 |
|---|---|---|
| Federal National Mortgage Associationnot matched to a ticker | 105.43% | Non-compliant |
| CHEEVERS & COnot matched to a ticker · short | 77.19% | Not screened |
| United States of Americanot matched to a ticker · short | 75.07% | Non-compliant |
| Federal National Mortgage Associationnot matched to a ticker | 25.41% | Non-compliant |
| N/Anot matched to a ticker · short | 11.88% | Not screened |
| N/Anot matched to a ticker · short | 11.87% | Not screened |
| N/Anot matched to a ticker · short | 11.86% | Not screened |
| N/Anot matched to a ticker · short | 11.86% | Not screened |
| N/Anot matched to a ticker · short | 11.85% | Not screened |
| N/Anot matched to a ticker · short | 11.85% | Not screened |
Top 10 of 670 holdings, 354.3% 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.
- Federal National Mortgage Associationnon-compliant105.43%
- CHEEVERS & COnot screened77.19%
- United States of Americanon-compliant75.07%
- Federal National Mortgage Associationnon-compliant25.41%
- N/Anot screened11.88%
- N/Anot screened11.87%
What changed, and when
Verdict history for FSMMX. 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 FSMMX 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 2 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.
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) | 36.90 | NEUTRAL |
| Stochastic %K (14) | 0.00 | BUY |
| CCI (20) | -177.30 | BUY |
| Williams %R (14) | -100.00 | BUY |
| MACD (12,26,9) | -0.01 | SELL |
| ROC (10) | -0.52 | SELL |
| Momentum (10) | -0.06 | SELL |
| EMA (10) | 11.46 | SELL |
| SMA (10) | 11.46 | SELL |
| EMA (20) | 11.47 | SELL |
| SMA (20) | 11.48 | SELL |
| EMA (30) | 11.48 | SELL |
| SMA (30) | 11.48 | SELL |
| EMA (50) | 11.49 | SELL |
| SMA (50) | 11.50 | SELL |
| EMA (100) | 11.47 | SELL |
| SMA (100) | 11.50 | SELL |
| EMA (200) | 11.38 | BUY |
| SMA (200) | 11.40 | 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.