Verdicts genuinely change. Free email alert the moment GSIB'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.
Themes Global Systemically Important Banks ETF · Themes ETF Trust
28 holdings · as of 2026-06-30 (3.4 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 85.31% of portfolio weight is in non-compliant holdings, over the 5% threshold.
28 holdings, 25 matched (89% of weight). Portfolio as of 2026-06-30, filed 2026-08-24. Source: SEC Form N-PORT.
34.14% of this portfolio’s income is non-permissible — weighted across holdings, computed over 29% of portfolio weight (8 of 28 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.
3.7% compliant 0.0% questionable 85.3% non-compliant 10.7% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| SAN.MC Banco Santander SA | NON_COMPLIANT | 3.70% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| RY Royal Bank of Canada | COMPLIANT | 3.65% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| ING ING Groep NV | 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% |
| TD Toronto-Dominion Bank/The | NON_COMPLIANT | 3.63% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| STAN.L Standard Chartered PLC | NON_COMPLIANT | 3.62% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BNP.PA BNP Paribas SA | NON_COMPLIANT | 3.61% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| STT State Street Corp | NON_COMPLIANT | 3.60% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| 3988.HK Bank of China Ltd | NON_COMPLIANT | 3.60% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HSBA.L HSBC Holdings PLC | NON_COMPLIANT | 3.60% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Sumitomo Mitsui Financial Grou | UNSCREENED | 3.59% | no in-house ratios for this holding |
| 8411.T Mizuho Financial Group Inc | NON_COMPLIANT | 3.59% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GLE.PA Societe Generale SA | NON_COMPLIANT | 3.59% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Bank of New York Mellon Corp/T | UNSCREENED | 3.59% | no in-house ratios for this holding |
| ACA.PA Credit Agricole SA | NON_COMPLIANT | 3.58% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 8306.T Mitsubishi UFJ Financial Group | NON_COMPLIANT | 3.58% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| UBSG.SW UBS Group AG | NON_COMPLIANT | 3.57% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 1288.HK Agricultural Bank of China Ltd | NON_COMPLIANT | 3.55% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BARC.L Barclays PLC | NON_COMPLIANT | 3.54% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| DBK.DE Deutsche Bank AG | NON_COMPLIANT | 3.54% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BAC Bank of America Corp | NON_COMPLIANT | 3.53% | AAOIFI77.5% Usmani9.7% Dow Jones Islamic95.9% S&P Shariah105.7% MSCI Islamic9.7% MSCI Islamic M-Series105.7% FTSE Shariah9.7% |
| ICBC | UNSCREENED | 3.52% | no in-house ratios for this holding |
| WFC Wells Fargo & Co | NON_COMPLIANT | 3.51% | AAOIFI80.2% Usmani9.1% Dow Jones Islamic84.8% S&P Shariah93.9% MSCI Islamic9.1% MSCI Islamic M-Series93.9% FTSE Shariah9.1% |
| JPM JPMorgan Chase & Co | NON_COMPLIANT | 3.51% | AAOIFI7.7% Usmani1.4% Dow Jones Islamic9.5% S&P Shariah10.7% MSCI Islamic1.4% MSCI Islamic M-Series10.7% FTSE Shariah1.4% |
| 3328.HK Bank of Communications Co Ltd | NON_COMPLIANT | 3.51% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0939.HK China Construction Bank Corp | NON_COMPLIANT | 3.50% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| C Citigroup Inc | NON_COMPLIANT | 3.47% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| MS Morgan Stanley | NON_COMPLIANT | 3.40% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| GS Goldman Sachs Group Inc/The | NON_COMPLIANT | 3.37% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
The published standards disagree about this fund by 4 points of portfolio weight — 3.7% of it passes AAOIFI, 0.0% 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 3.7% ratios fail on 85.3% 10.7% not rated under AAOIFI
ratios pass on 0.0% ratios fail on 71.4% 28.3% not rated under Usmani
ratios pass on 0.0% ratios fail on 89.0% 10.7% not rated under Dow Jones Islamic
ratios pass on 0.0% ratios fail on 85.3% 14.3% not rated under S&P Shariah
ratios pass on 0.0% ratios fail on 71.4% 28.3% not rated under MSCI Islamic
ratios pass on 0.0% ratios fail on 89.0% 10.7% not rated under MSCI Islamic M-Series
ratios pass on 0.0% ratios fail on 71.4% 28.3% not rated under FTSE Shariah
25 of 28 listed holdings carry our own per-methodology verdicts (89% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 10 (35% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| SAN.MC Banco Santander SA | 3.70% |
| ING ING Groep NV | 3.64% |
| TD Toronto-Dominion Bank/The | 3.63% |
| STAN.L Standard Chartered PLC | 3.62% |
| BNP.PA BNP Paribas SA | 3.61% |
| STT State Street Corp | 3.60% |
| 3988.HK Bank of China Ltd | 3.60% |
| HSBA.L HSBC Holdings PLC | 3.60% |
| 8411.T Mizuho Financial Group Inc | 3.59% |
| GLE.PA Societe Generale SA | 3.59% |
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.
Themes Global Systemically Important Banks ETF (GSIB) 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 GSIB — 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) | 35.80 | NEUTRAL |
| Stochastic %K (14) | 35.44 | NEUTRAL |
| CCI (20) | -97.67 | NEUTRAL |
| Williams %R (14) | -64.56 | NEUTRAL |
| MACD (12,26,9) | -0.26 | SELL |
| ROC (10) | -4.42 | SELL |
| Momentum (10) | -2.81 | SELL |
| EMA (10) | 61.57 | SELL |
| SMA (10) | 61.58 | SELL |
| EMA (20) | 62.47 | SELL |
| SMA (20) | 62.82 | SELL |
| EMA (30) | 62.93 | SELL |
| SMA (30) | 63.76 | SELL |
| EMA (50) | 63.02 | SELL |
| SMA (50) | 64.09 | SELL |
| EMA (100) | 61.61 | SELL |
| SMA (100) | 62.14 | SELL |
| EMA (200) | 57.87 | BUY |
| SMA (200) | 57.83 | BUY |
The fund is an actively managed exchange-traded fund (“ETF”) that will invest in the equity securities of companies that operate in the global banking sector. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities that are part of the global banking sector and in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) that represent such companies in the banking sector. The fund is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
Weak — low conviction, small size or skip
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 | 42 |
| 🕐 1H | BEARISH | 21 |
| ⏱ 15-Min | BULLISH | 86 |
| ⏲ 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.