GLIXETF / FundLazard Listed Infrastructure ETF
Verdicts genuinely change. Free email alert the moment GLIX'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.
Lazard Listed Infrastructure ETF ETF · Lazard Active ETF Trust
42 holdings · as of 2026-06-30 (3.9 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.
NON-COMPLIANT 65.92% of portfolio weight is in non-compliant holdings, over the 5% threshold.
42 holdings, 35 matched (95% of weight). Portfolio as of 2026-06-30, filed 2026-08-21. Source: SEC Form N-PORT.
0.75% of this portfolio’s income is non-permissible — weighted across holdings, computed over 90% of portfolio weight (29 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.
28.3% compliant 0.0% questionable 65.9% non-compliant 5.4% unscreened
All holdings (42)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| CNI Canadian National Railway Co | COMPLIANT | 8.64% | AAOIFI22.7% Usmani38.5% Dow Jones Islamic25.4% S&P Shariah24.2% MSCI Islamic38.5% MSCI Islamic M-Series24.2% FTSE Shariah37.8% |
| NG.L National Grid PLC | NON_COMPLIANT | 8.11% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| DG.PA Vinci SA | NON_COMPLIANT | 6.38% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| CSX CSX Corp | COMPLIANT | 4.68% | AAOIFI21.8% Usmani43.3% Dow Jones Islamic27.6% S&P Shariah28.4% MSCI Islamic43.3% MSCI Islamic M-Series28.4% FTSE Shariah42.2% |
| PNW Pinnacle West Capital Corp | NON_COMPLIANT | 4.67% | AAOIFI132.7% Usmani48.2% Dow Jones Islamic147.1% S&P Shariah162.0% MSCI Islamic48.2% MSCI Islamic M-Series162.0% FTSE Shariah32.4% |
| AENA.MC Aena SME SA | COMPLIANT | 4.56% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| OGE OGE Energy Corp | NON_COMPLIANT | 4.55% | AAOIFI55.4% Usmani37.1% Dow Jones Islamic61.2% S&P Shariah67.4% MSCI Islamic37.1% MSCI Islamic M-Series67.4% FTSE Shariah37.1% |
| TCL.AX Transurban Group | NON_COMPLIANT | 4.36% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NSC Norfolk Southern Corp | COMPLIANT | 4.25% | AAOIFI22.6% Usmani36.8% Dow Jones Islamic27.1% S&P Shariah29.0% MSCI Islamic36.8% MSCI Islamic M-Series29.0% FTSE Shariah36.8% |
| Portland General Electric Co | UNSCREENED | 4.21% | no in-house ratios for this holding |
| EXC Exelon Corp | NON_COMPLIANT | 4.16% | AAOIFI109.9% Usmani42.1% Dow Jones Islamic115.7% S&P Shariah124.5% MSCI Islamic42.1% MSCI Islamic M-Series124.5% FTSE Shariah42.1% |
| ED Consolidated Edison Inc | NON_COMPLIANT | 4.12% | AAOIFI65.9% Usmani35.2% Dow Jones Islamic73.6% S&P Shariah78.5% MSCI Islamic35.2% MSCI Islamic M-Series78.5% FTSE Shariah34.5% |
| UNP Union Pacific Corp | COMPLIANT | 4.00% | AAOIFI18.2% Usmani43.8% Dow Jones Islamic22.0% S&P Shariah22.4% MSCI Islamic43.8% MSCI Islamic M-Series22.4% FTSE Shariah42.6% |
| AMT American Tower Corp | NON_COMPLIANT | 3.74% | AAOIFI52.7% Usmani71.1% Dow Jones Islamic52.4% S&P Shariah52.4% MSCI Islamic71.1% MSCI Islamic M-Series52.4% FTSE Shariah58.8% |
| CCI Crown Castle Inc | NON_COMPLIANT | 3.45% | AAOIFI67.9% Usmani108.8% Dow Jones Islamic61.9% S&P Shariah60.7% MSCI Islamic108.8% MSCI Islamic M-Series60.7% FTSE Shariah84.8% |
| CLNX.MC Cellnex Telecom SA | NON_COMPLIANT | 2.64% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SRG.MI Snam SpA | NON_COMPLIANT | 2.19% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ES Eversource Energy | NON_COMPLIANT | 2.11% | AAOIFI108.8% Usmani45.9% Dow Jones Islamic122.9% S&P Shariah132.3% MSCI Islamic45.9% MSCI Islamic M-Series132.3% FTSE Shariah45.9% |
| FER.MC Ferrovial NV | COMPLIANT | 2.10% | AAOIFI26.9% Usmani38.0% Dow Jones Islamic35.3% S&P Shariah39.6% MSCI Islamic38.0% MSCI Islamic M-Series39.6% FTSE Shariah38.0% |
| TRN.MI Terna - Rete Elettrica Nazionale | NON_COMPLIANT | 2.09% | AAOIFI77.0% Usmani48.7% Dow Jones Islamic— S&P Shariah— MSCI Islamic48.7% MSCI Islamic M-Series— FTSE Shariah48.7% |
| AEP American Electric Power Co Inc | NON_COMPLIANT | 2.08% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| AWK American Water Works Co Inc | NON_COMPLIANT | 2.05% | AAOIFI58.8% Usmani42.8% Dow Jones Islamic60.7% S&P Shariah62.1% MSCI Islamic42.8% MSCI Islamic M-Series62.1% FTSE Shariah42.6% |
| EVRG Evergy Inc | NON_COMPLIANT | 1.98% | AAOIFI72.2% Usmani39.7% Dow Jones Islamic84.2% S&P Shariah94.4% MSCI Islamic39.4% MSCI Islamic M-Series94.4% FTSE Shariah39.2% |
| NEE NextEra Energy Inc | NON_COMPLIANT | 1.94% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| AEE Ameren Corp | NON_COMPLIANT | 1.93% | AAOIFI71.5% Usmani40.2% Dow Jones Islamic76.5% S&P Shariah85.2% MSCI Islamic40.2% MSCI Islamic M-Series85.2% FTSE Shariah40.2% |
| PPL PPL Corp | NON_COMPLIANT | 1.75% | AAOIFI77.2% Usmani43.2% Dow Jones Islamic78.6% S&P Shariah86.6% MSCI Islamic43.2% MSCI Islamic M-Series86.6% FTSE Shariah43.2% |
| NI NiSource Inc | NON_COMPLIANT | 1.50% | AAOIFI82.1% Usmani43.4% Dow Jones Islamic85.6% S&P Shariah99.5% MSCI Islamic43.4% MSCI Islamic M-Series99.5% FTSE Shariah43.4% |
| LAZARD GOVT MNY MMKT INS | UNSCREENED | 0.84% | no in-house ratios for this holding |
| State Street Bank & Trust Co. | UNSCREENED | 0.20% | no in-house ratios for this holding |
| State Street Bank & Trust Co. | UNSCREENED | 0.08% | no in-house ratios for this holding |
| MS Morgan Stanley & Co. LLC | NON_COMPLIANT | 0.06% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| State Street Bank & Trust Co. | UNSCREENED | 0.06% | no in-house ratios for this holding |
| State Street Bank & Trust Co. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| RY Royal Bank of Canada | COMPLIANT | 0.03% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| RY Royal Bank of Canada | COMPLIANT | 0.02% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| MS Morgan Stanley & Co. LLC | NON_COMPLIANT | 0.02% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| RY Royal Bank of Canada | COMPLIANT | 0.02% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| RY Royal Bank of Canada | COMPLIANT | 0.01% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| MS Morgan Stanley & Co. LLC | NON_COMPLIANT | 0.01% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| MS Morgan Stanley & Co. LLC | NON_COMPLIANT | 0.01% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| State Street Bank & Trust Co. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| RY Royal Bank of Canada | COMPLIANT | 0.00% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
The published standards disagree about this fund by 22 points of portfolio weight — 28.3% of it passes AAOIFI, 6.4% passes Usmani. 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 28.3% ratios fail on 62.5% 8.9% not rated under AAOIFI
ratios pass on 6.4% ratios fail on 84.2% 9.1% not rated under Usmani
ratios pass on 28.2% ratios fail on 60.5% 11.0% not rated under Dow Jones Islamic
ratios pass on 28.2% ratios fail on 60.4% 11.1% not rated under S&P Shariah
ratios pass on 6.4% ratios fail on 84.2% 9.1% not rated under MSCI Islamic
ratios pass on 28.2% ratios fail on 60.5% 11.0% not rated under MSCI Islamic M-Series
ratios pass on 11.1% ratios fail on 79.5% 9.1% not rated under FTSE Shariah
28 of 42 listed holdings carry our own per-methodology verdicts (94% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 21 (64% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| NG.L National Grid PLC | 8.11% |
| DG.PA Vinci SA | 6.38% |
| PNW Pinnacle West Capital Corp | 4.67% |
| OGE OGE Energy Corp | 4.55% |
| TCL.AX Transurban Group | 4.36% |
| EXC Exelon Corp | 4.16% |
| ED Consolidated Edison Inc | 4.12% |
| AMT American Tower Corp | 3.74% |
| CCI Crown Castle Inc | 3.45% |
| CLNX.MC Cellnex Telecom SA | 2.64% |
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.
Lazard Listed Infrastructure ETF (GLIX) 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 GLIX — 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) | 70.90 | SELL |
| Stochastic %K (14) | 96.35 | SELL |
| CCI (20) | 121.34 | SELL |
| Williams %R (14) | -3.65 | SELL |
| MACD (12,26,9) | 0.18 | BUY |
| ROC (10) | 4.43 | BUY |
| Momentum (10) | 1.17 | BUY |
| EMA (10) | 26.90 | BUY |
| SMA (10) | 26.88 | BUY |
| EMA (20) | 26.56 | BUY |
| SMA (20) | 26.24 | BUY |
| EMA (30) | 26.45 | BUY |
| SMA (30) | 26.08 | BUY |
| EMA (50) | 26.49 | BUY |
| SMA (50) | 26.34 | BUY |
| EMA (100) | 26.62 | BUY |
| SMA (100) | 26.95 | BUY |
| EMA (200) | 26.35 | BUY |
| SMA (200) | 26.80 | BUY |
About Lazard Listed Infrastructure ETF
The Portfolio invests primarily in equity securities, principally common stocks,of infrastructure companies. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities of Infrastructure Companies.
Background via Yahoo Finance — informational, not part of the verdict.
Weak — low conviction, small size or skip
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 | BULLISH | 42 |
| 🕐 1H | NEUTRAL | 19 |
| ⏱ 15-Min | BULLISH | 79 |
| ⏲ 5-Min | RANGING | 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 2026-10-20 · Asset managers net 901377 (-14458)
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.