Verdicts genuinely change. Free email alert the moment GQGPX'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.
GQG Partners Emerging Markets Equity Fund · ADVISORS' INNER CIRCLE III
76 holdings
NON-COMPLIANT 43.26% of portfolio weight is in non-compliant holdings, over the 5% threshold.
76 holdings, 51 matched (76% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.
4.99% of this portfolio’s income is non-permissible — weighted across holdings, computed over 65% of portfolio weight (41 of 76 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.
32.9% compliant 0.0% questionable 43.1% non-compliant 24.0% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| TSM Taiwan Semiconductor Manufacturing Company Limited | COMPLIANT | 10.30% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| Petroleo Brasileiro S.A. (Petrobras) | UNSCREENED | 4.01% | no in-house ratios for this holding |
| Petroleo Brasileiro S.A. (Petrobras) | UNSCREENED | 3.79% | no in-house ratios for this holding |
| TTE.PA TOTALENERGIES SE | NON_COMPLIANT | 3.37% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| PM Philip Morris International Inc. | NON_COMPLIANT | 3.23% | AAOIFI16.1% Usmani66.9% Dow Jones Islamic18.9% S&P Shariah22.1% MSCI Islamic66.9% MSCI Islamic M-Series22.1% FTSE Shariah66.9% |
| 1299.HK AIA Group Limited | NON_COMPLIANT | 3.02% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ADANIPOWER.NS ADANI POWER LIMITED | COMPLIANT | 2.83% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| BHARTIARTL.BO BHARTI AIRTEL LIMITED | COMPLIANT | 2.43% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| BP.L BP P.L.C. | NON_COMPLIANT | 2.30% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 0700.HK Tencent Holdings Limited | COMPLIANT | 2.10% | AAOIFIpass Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| ADANIPORTS.NS ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED | COMPLIANT | 2.04% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| ADANIGREEN.NS ADANI GREEN ENERGY LIMITED | NON_COMPLIANT | 1.98% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| AXIA Energia S.A. | UNSCREENED | 1.96% | no in-house ratios for this holding |
| ITC.NS ITC LIMITED | NON_COMPLIANT | 1.93% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| America Movil, S.A.B. de C.V. | UNSCREENED | 1.66% | no in-house ratios for this holding |
| International Holding Company PJSC | UNSCREENED | 1.63% | no in-house ratios for this holding |
| ADANIENT.BO ADANI ENTERPRISES LIMITED | COMPLIANT | 1.62% | AAOIFIpass Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ABEV3.SA AMBEV S.A. | NON_COMPLIANT | 1.57% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 300750.SZ Contemporary Amperex Technology Co., Ltd. | COMPLIANT | 1.57% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| JSWSTEEL.BO JSW STEEL LIMITED | NON_COMPLIANT | 1.55% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ITUB Itau Unibanco Holding S.A. | NON_COMPLIANT | 1.51% | AAOIFI132.6% Usmani27.8% Dow Jones Islamic351.6% S&P Shariah388.8% MSCI Islamic27.8% MSCI Islamic M-Series388.8% FTSE Shariah27.8% |
| 0939.HK CHINA CONSTRUCTION BANK CORPORATION | NON_COMPLIANT | 1.51% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| UL UNILEVER PLC | COMPLIANT | 1.50% | AAOIFI27.6% Usmani41.0% Dow Jones Islamic23.6% S&P Shariah24.9% MSCI Islamic39.2% MSCI Islamic M-Series24.9% FTSE Shariah39.2% |
| 1398.HK INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED | NON_COMPLIANT | 1.49% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| N/A | UNSCREENED | 1.45% | no in-house ratios for this holding |
| ENEV3.SA Eneva S.A. | NON_COMPLIANT | 1.42% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BPAC11.SA BANCO BTG PACTUAL S.A. | NON_COMPLIANT | 1.39% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| COALINDIA.NS COAL INDIA LTD | COMPLIANT | 1.35% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| INTERNATIONAL CONTAINER TERMINAL SERVICES, INC. | UNSCREENED | 1.34% | no in-house ratios for this holding |
| GFNORTEO.MX Grupo Financiero Banorte, S.A.B. de C.V. | NON_COMPLIANT | 1.32% | AAOIFI27.3% Usmani5.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic5.9% MSCI Islamic M-Seriesfail FTSE Shariah5.9% |
| CCH.L Coca-Cola HBC AG | COMPLIANT | 1.31% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| PFC.NS POWER FINANCE CORPORATION LIMITED | NON_COMPLIANT | 1.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ADANIENSOL.NS ADANI ENERGY SOLUTIONS LIMITED | COMPLIANT | 1.24% | AAOIFIpass Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| OTP.BD OTP Bank Nyrt. | NON_COMPLIANT | 1.23% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP | UNSCREENED | 1.21% | no in-house ratios for this holding |
| EQUATORIAL S.A. | UNSCREENED | 1.18% | no in-house ratios for this holding |
| 2317.TW HON HAI PRECISION INDUSTRY CO., LTD. | NON_COMPLIANT | 1.17% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SPOLKA AKCYJNA | UNSCREENED | 1.12% | no in-house ratios for this holding |
| 2222.SR Saudi Arabian Oil Company | COMPLIANT | 1.10% | AAOIFI5.8% Usmani16.9% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic14.2% MSCI Islamic M-Seriespass FTSE Shariah14.2% |
| FIRST ABU DHABI BANK P.J.S.C. | UNSCREENED | 1.06% | no in-house ratios for this holding |
| GMRAIRPORT.NS GMR AIRPORTS LIMITED | NON_COMPLIANT | 1.03% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Z74.SI SINGAPORE TELECOMMUNICATIONS LIMITED | COMPLIANT | 1.00% | AAOIFI15.5% Usmani29.2% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic23.0% MSCI Islamic M-Seriespass FTSE Shariah23.0% |
| 012450.KS HANWHA AEROSPACE CO., LTD. | NON_COMPLIANT | 0.99% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 2328.HK PICC Property and Casualty Company Limited | NON_COMPLIANT | 0.99% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| JSWENERGY.BO JSW ENERGY LIMITED | NON_COMPLIANT | 0.98% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ENI.MI ENI S.P.A. | NON_COMPLIANT | 0.98% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ETE.AT NATIONAL BANK OF GREECE S.A. | NON_COMPLIANT | 0.96% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ADNOC Gas PLC | UNSCREENED | 0.94% | no in-house ratios for this holding |
| ANHEUSER-BUSCH INBEV SA | UNSCREENED | 0.88% | no in-house ratios for this holding |
| 0388.HK Hong Kong Exchanges and Clearing Limited | NON_COMPLIANT | 0.84% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| INFY INFOSYS LIMITED | COMPLIANT | 0.78% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| Alpha Dhabi Holding PJSC | UNSCREENED | 0.78% | no in-house ratios for this holding |
| B3SA3.SA B3 S.A - Brasil, Bolsa, Balcao | NON_COMPLIANT | 0.77% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0857.HK PetroChina Company Limited | COMPLIANT | 0.74% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| NTES NETEASE, INC. | NON_COMPLIANT | 0.66% | AAOIFI0.9% Usmani0.3% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.3% MSCI Islamic M-Series0.0% FTSE Shariah0.2% |
| PATANJALI.NS PATANJALI FOODS LIMITED | COMPLIANT | 0.66% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| CPLE3.SA Companhia Paranaense de Energia - Copel | NON_COMPLIANT | 0.66% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| EUROB.AT Eurobank S.A. | NON_COMPLIANT | 0.58% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| EMBJ3.SA EMBRAER S.A. | NON_COMPLIANT | 0.56% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Grupo Aeroportuario del Pacifico, S.A.B. de C.V. | UNSCREENED | 0.54% | no in-house ratios for this holding |
| AXIA Energia S.A. | UNSCREENED | 0.52% | no in-house ratios for this holding |
| STAN.L STANDARD CHARTERED PLC | NON_COMPLIANT | 0.49% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0857.HK PetroChina Company Limited | COMPLIANT | 0.47% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| HSBA.L HSBC HOLDINGS PLC | NON_COMPLIANT | 0.45% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NTES NETEASE, INC. | NON_COMPLIANT | 0.43% | AAOIFI0.9% Usmani0.3% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.3% MSCI Islamic M-Series0.0% FTSE Shariah0.2% |
| JD JD.COM, INC. | NON_COMPLIANT | 0.37% | AAOIFI28.5% Usmani11.2% Dow Jones Islamic12.5% S&P Shariah13.4% MSCI Islamic11.2% MSCI Islamic M-Series13.4% FTSE Shariah6.4% |
| S63.SI SINGAPORE TECHNOLOGIES ENGINEERING LTD | NON_COMPLIANT | 0.24% | AAOIFI14.7% Usmani34.4% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic30.1% MSCI Islamic M-Seriesfail FTSE Shariah30.1% |
| BROWN BROTHERS HARRIMAN & CO. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| GAZPROM PAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| NEFTYANAYA KOMPANIYA ROSNEFT' PAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| BROWN BROTHERS HARRIMAN & CO. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| NK LUKOIL PAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| GMK NORIL'SKIY NIKEL' PAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Solidcore Resources plc | UNSCREENED | 0.00% | no in-house ratios for this holding |
| SEVERSTAL' PAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| POLYUS PAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 25 points of portfolio weight — 35.5% of it passes AAOIFI, 11.0% 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 35.5% ratios fail on 40.0% 24.8% not rated under AAOIFI
ratios pass on 13.6% ratios fail on 59.8% 26.9% not rated under Usmani
ratios pass on 30.4% ratios fail on 43.0% 26.9% not rated under Dow Jones Islamic
ratios pass on 30.8% ratios fail on 42.6% 26.9% not rated under S&P Shariah
ratios pass on 11.0% ratios fail on 62.4% 26.9% not rated under MSCI Islamic
ratios pass on 30.4% ratios fail on 43.0% 26.9% not rated under MSCI Islamic M-Series
ratios pass on 12.5% ratios fail on 61.0% 26.9% not rated under FTSE Shariah
49 of 76 listed holdings carry our own per-methodology verdicts (76% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 11 (22% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| TTE.PA TOTALENERGIES SE | 3.37% |
| PM Philip Morris International Inc. | 3.23% |
| 1299.HK AIA Group Limited | 3.02% |
| BP.L BP P.L.C. | 2.30% |
| ADANIGREEN.NS ADANI GREEN ENERGY LIMITED | 1.98% |
| ITC.NS ITC LIMITED | 1.93% |
| ABEV3.SA AMBEV S.A. | 1.57% |
| JSWSTEEL.BO JSW STEEL LIMITED | 1.55% |
| ITUB Itau Unibanco Holding S.A. | 1.51% |
| 0939.HK CHINA CONSTRUCTION BANK CORPORATION | 1.51% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
GQG Partners Emerging Markets Equity Fund (GQGPX) 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 |
|---|---|---|
| TSMTaiwan Semiconductor Manufacturing Company Limited | 10.30% | Compliant |
| Petroleo Brasileiro S.A. (Petrobras)not matched to a ticker | 4.01% | Not screened |
| Petroleo Brasileiro S.A. (Petrobras)not matched to a ticker | 3.79% | Not screened |
| TTE.PATOTALENERGIES SE | 3.37% | Non-compliant |
| PMPhilip Morris International Inc. | 3.23% | Non-compliant |
| 1299.HKAIA Group Limited | 3.02% | Non-compliant |
| ADANIPOWER.NSADANI POWER LIMITED | 2.83% | Compliant |
| BHARTIARTL.BOBHARTI AIRTEL LIMITED | 2.43% | Compliant |
| BP.LBP P.L.C. | 2.30% | Non-compliant |
| 0700.HKTencent Holdings Limited | 2.10% | Compliant |
Top 10 of 76 holdings, 37.4% 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 GQGPX. 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) | 33.60 | NEUTRAL |
| Stochastic %K (14) | 0.00 | BUY |
| CCI (20) | -221.47 | BUY |
| Williams %R (14) | -100.00 | BUY |
| MACD (12,26,9) | -0.16 | SELL |
| ROC (10) | -6.33 | SELL |
| Momentum (10) | -1.23 | SELL |
| EMA (10) | 18.91 | SELL |
| SMA (10) | 19.15 | SELL |
| EMA (20) | 19.09 | SELL |
| SMA (20) | 19.29 | SELL |
| EMA (30) | 19.11 | SELL |
| SMA (30) | 19.25 | SELL |
| EMA (50) | 19.07 | SELL |
| SMA (50) | 19.03 | SELL |
| EMA (100) | 18.94 | SELL |
| SMA (100) | 18.86 | SELL |
| EMA (200) | 18.68 | SELL |
| SMA (200) | 18.79 | 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.