Verdicts genuinely change. Free email alert the moment HVEIX'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.
HVIA EQUITY FUND · Ultimus Managers Trust
51 holdings
NON-COMPLIANT 21.85% of portfolio weight is in non-compliant holdings, over the 5% threshold.
51 holdings, 48 matched (95% of weight). Portfolio as of 2026-08-31, filed 2026-10-15. Source: SEC Form N-PORT.
3.13% of this portfolio’s income is non-permissible — weighted across holdings, computed over 91% of portfolio weight (46 of 51 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.
53.4% compliant 20.1% questionable 21.8% non-compliant 4.6% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| NVDA NVIDIA CORP | COMPLIANT | 5.57% | AAOIFI1.1% Usmani12.1% Dow Jones Islamic0.9% S&P Shariah1.1% MSCI Islamic12.1% MSCI Islamic M-Series1.1% FTSE Shariah10.4% |
| MSFT MICROSOFT CORP | QUESTIONABLE | 5.14% | AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3% |
| AMZN AMAZON.COM INC | QUESTIONABLE | 4.94% | AAOIFI8.2% Usmani22.1% Dow Jones Islamic9.6% S&P Shariah10.6% MSCI Islamic20.9% MSCI Islamic M-Series10.6% FTSE Shariah12.1% |
| GOOG ALPHABET INC | QUESTIONABLE | 4.37% | AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9% |
| KLAC KLA CORP | COMPLIANT | 3.92% | AAOIFI2.5% Usmani34.3% Dow Jones Islamic4.0% S&P Shariah4.7% MSCI Islamic34.3% MSCI Islamic M-Series4.7% FTSE Shariah32.8% |
| AAPL APPLE INC | COMPLIANT | 3.87% | AAOIFI2.1% Usmani21.5% Dow Jones Islamic2.2% S&P Shariah2.4% MSCI Islamic21.5% MSCI Islamic M-Series2.4% FTSE Shariah21.5% |
| LLY ELI LILLY & COMPANY | COMPLIANT | 3.08% | AAOIFI5.2% Usmani38.6% Dow Jones Islamic6.4% S&P Shariah6.9% MSCI Islamic38.6% MSCI Islamic M-Series6.9% FTSE Shariah38.6% |
| META META PLATFORMS INC | QUESTIONABLE | 3.05% | AAOIFI7.2% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.9% MSCI Islamic25.0% MSCI Islamic M-Series7.9% FTSE Shariah18.6% |
| AXP AMERICAN EXPRESS COMPANY | NON_COMPLIANT | 3.00% | AAOIFI26.8% Usmani19.2% Dow Jones Islamic27.4% S&P Shariah30.8% MSCI Islamic19.2% MSCI Islamic M-Series30.8% FTSE Shariah19.2% |
| V VISA INC | COMPLIANT | 2.90% | AAOIFI3.5% Usmani25.2% Dow Jones Islamic15.5% S&P Shariah16.7% MSCI Islamic25.2% MSCI Islamic M-Series16.7% FTSE Shariah25.2% |
| CSCO CISCO SYSTEMS INC | COMPLIANT | 2.40% | AAOIFI5.7% Usmani18.9% Dow Jones Islamic8.4% S&P Shariah9.5% MSCI Islamic18.9% MSCI Islamic M-Series9.5% FTSE Shariah17.6% |
| ABBV ABBVIE INC | COMPLIANT | 2.34% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| AZO AUTOZONE INC | COMPLIANT | 2.19% | AAOIFI25.3% Usmani60.6% Dow Jones Islamic21.8% S&P Shariah22.9% MSCI Islamic60.6% MSCI Islamic M-Series22.9% FTSE Shariah43.3% |
| SCHW CHARLES SCHWAB CORP (THE) | NON_COMPLIANT | 2.19% | AAOIFI14.6% Usmani5.3% Dow Jones Islamic18.7% S&P Shariah22.0% MSCI Islamic5.3% MSCI Islamic M-Series22.0% FTSE Shariah5.3% |
| CRM SALESFORCE INC | COMPLIANT | 2.11% | AAOIFI20.9% Usmani38.1% Dow Jones Islamic18.3% S&P Shariah17.8% MSCI Islamic38.1% MSCI Islamic M-Series17.8% FTSE Shariah35.8% |
| IBM INTERNATIONAL BUSINESS MACHINES CORP | COMPLIANT | 2.04% | AAOIFI29.5% Usmani42.9% Dow Jones Islamic28.2% S&P Shariah32.2% MSCI Islamic42.9% MSCI Islamic M-Series32.2% FTSE Shariah40.8% |
| MPC MARATHON PETROLEUM CORP | NON_COMPLIANT | 2.02% | AAOIFI31.4% Usmani36.4% Dow Jones Islamic59.6% S&P Shariah59.2% MSCI Islamic36.4% MSCI Islamic M-Series59.2% FTSE Shariah34.8% |
| APH AMPHENOL CORP | NON_COMPLIANT | 2.01% | AAOIFI9.5% Usmani42.0% Dow Jones Islamic13.3% S&P Shariah16.1% MSCI Islamic42.0% MSCI Islamic M-Series16.1% FTSE Shariah42.0% |
| MS MORGAN STANLEY | NON_COMPLIANT | 1.91% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| TMO THERMO FISHER SCIENTIFIC INC | COMPLIANT | 1.89% | AAOIFI20.5% Usmani40.3% Dow Jones Islamic23.4% S&P Shariah22.9% MSCI Islamic40.3% MSCI Islamic M-Series22.9% FTSE Shariah40.3% |
| NEM NEWMONT CORP | COMPLIANT | 1.88% | AAOIFI3.8% Usmani8.8% Dow Jones Islamic6.1% S&P Shariah7.4% MSCI Islamic8.8% MSCI Islamic M-Series7.4% FTSE Shariah8.8% |
| MELI MERCADOLIBRE INC | COMPLIANT | 1.82% | AAOIFI20.1% Usmani38.5% Dow Jones Islamic19.0% S&P Shariah20.6% MSCI Islamic38.3% MSCI Islamic M-Series20.6% FTSE Shariah33.3% |
| GWW W.W. GRAINGER INC | COMPLIANT | 1.74% | AAOIFI4.6% Usmani29.1% Dow Jones Islamic5.4% S&P Shariah5.7% MSCI Islamic29.1% MSCI Islamic M-Series5.7% FTSE Shariah25.0% |
| JP MORGAN CHASE & COMPANY | UNSCREENED | 1.74% | no in-house ratios for this holding |
| CIEN CIENA CORP | COMPLIANT | 1.73% | AAOIFI6.7% Usmani41.1% Dow Jones Islamic10.4% S&P Shariah14.0% MSCI Islamic41.0% MSCI Islamic M-Series14.0% FTSE Shariah40.4% |
| PWR QUANTA SERVICES INC | COMPLIANT | 1.72% | AAOIFI6.9% Usmani23.3% Dow Jones Islamic10.1% S&P Shariah12.1% MSCI Islamic23.3% MSCI Islamic M-Series12.1% FTSE Shariah21.5% |
| NFLX NETFLIX INC | QUESTIONABLE | 1.71% | AAOIFI5.2% Usmani28.5% Dow Jones Islamic4.1% S&P Shariah4.7% MSCI Islamic28.5% MSCI Islamic M-Series4.7% FTSE Shariah24.5% |
| FIRST AMERICAN FUNDS INC | UNSCREENED | 1.69% | no in-house ratios for this holding |
| THC TENET HEALTHCARE CORP | NON_COMPLIANT | 1.69% | AAOIFI63.5% Usmani43.2% Dow Jones Islamic83.2% S&P Shariah95.3% MSCI Islamic43.2% MSCI Islamic M-Series95.3% FTSE Shariah43.2% |
| CBRE CBRE GROUP INC | COMPLIANT | 1.62% | AAOIFI20.1% Usmani27.9% Dow Jones Islamic19.6% S&P Shariah22.3% MSCI Islamic27.2% MSCI Islamic M-Series22.3% FTSE Shariah19.0% |
| GS GOLDMAN SACHS GROUP INC (THE) | NON_COMPLIANT | 1.62% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
| ALL ALLSTATE CORP (THE) | NON_COMPLIANT | 1.49% | AAOIFI11.4% Usmani6.0% Dow Jones Islamic14.1% S&P Shariah15.6% MSCI Islamic6.0% MSCI Islamic M-Series15.6% FTSE Shariah6.0% |
| JLL JONES LANG LASALLE INC | NON_COMPLIANT | 1.33% | AAOIFI18.3% Usmani14.4% Dow Jones Islamic18.3% S&P Shariah20.5% MSCI Islamic14.4% MSCI Islamic M-Series20.5% FTSE Shariah9.4% |
| NEE NEXTERA ENERGY INC | NON_COMPLIANT | 1.25% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| DUK DUKE ENERGY CORP | NON_COMPLIANT | 1.24% | AAOIFI95.1% Usmani45.3% Dow Jones Islamic98.9% S&P Shariah107.5% MSCI Islamic45.0% MSCI Islamic M-Series107.5% FTSE Shariah44.4% |
| ADBE ADOBE INC | COMPLIANT | 1.17% | AAOIFI4.5% Usmani22.6% Dow Jones Islamic4.6% S&P Shariah3.8% MSCI Islamic22.6% MSCI Islamic M-Series3.8% FTSE Shariah21.2% |
| SLB LTD | UNSCREENED | 1.15% | no in-house ratios for this holding |
| NUE NUCOR CORP | COMPLIANT | 1.13% | AAOIFI11.2% Usmani17.6% Dow Jones Islamic17.6% S&P Shariah17.3% MSCI Islamic17.6% MSCI Islamic M-Series17.3% FTSE Shariah17.6% |
| URI UNITED RENTALS INC | COMPLIANT | 1.08% | AAOIFI27.5% Usmani59.2% Dow Jones Islamic32.5% S&P Shariah35.6% MSCI Islamic58.1% MSCI Islamic M-Series35.6% FTSE Shariah53.3% |
| XOM EXXONMOBIL HOLDINGS CORP | COMPLIANT | 1.08% | AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1% |
| ROK ROCKWELL AUTOMATION INC | COMPLIANT | 1.07% | AAOIFI6.1% Usmani26.4% Dow Jones Islamic7.6% S&P Shariah8.1% MSCI Islamic26.4% MSCI Islamic M-Series8.1% FTSE Shariah23.2% |
| ANET ARISTA NETWORKS INC | COMPLIANT | 1.06% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| MRSH MARSH & MCLENNAN COMPANIES INC | NON_COMPLIANT | 1.06% | AAOIFI24.1% Usmani35.8% Dow Jones Islamic22.1% S&P Shariah22.2% MSCI Islamic35.8% MSCI Islamic M-Series22.2% FTSE Shariah32.7% |
| BKR BAKER HUGHES COMPANY | NON_COMPLIANT | 1.05% | AAOIFI29.3% Usmani30.9% Dow Jones Islamic33.5% S&P Shariah37.8% MSCI Islamic30.9% MSCI Islamic M-Series37.8% FTSE Shariah30.9% |
| SHW SHERWIN-WILLIAMS COMPANY (THE) | COMPLIANT | 1.01% | AAOIFI18.0% Usmani52.7% Dow Jones Islamic16.6% S&P Shariah17.3% MSCI Islamic52.7% MSCI Islamic M-Series17.3% FTSE Shariah44.8% |
| MU MICRON TECHNOLOGY INC | COMPLIANT | 0.87% | AAOIFI0.6% Usmani6.7% Dow Jones Islamic1.8% S&P Shariah2.4% MSCI Islamic4.8% MSCI Islamic M-Series2.4% FTSE Shariah4.3% |
| COST COSTCO WHOLESALE CORP | QUESTIONABLE | 0.86% | AAOIFI2.0% Usmani11.4% Dow Jones Islamic2.1% S&P Shariah2.2% MSCI Islamic9.8% MSCI Islamic M-Series2.2% FTSE Shariah6.9% |
| LECO LINCOLN ELECTRIC HOLDINGS INC | COMPLIANT | 0.78% | AAOIFI8.0% Usmani31.5% Dow Jones Islamic9.6% S&P Shariah9.9% MSCI Islamic31.5% MSCI Islamic M-Series9.9% FTSE Shariah30.2% |
| CSX CSX CORP | COMPLIANT | 0.58% | AAOIFI21.8% Usmani43.3% Dow Jones Islamic27.6% S&P Shariah28.4% MSCI Islamic43.3% MSCI Islamic M-Series28.4% FTSE Shariah42.2% |
| GNRC GENERAC HOLDINGS INC | COMPLIANT | 0.39% | AAOIFI10.8% Usmani21.2% Dow Jones Islamic11.6% S&P Shariah12.8% MSCI Islamic21.0% MSCI Islamic M-Series12.8% FTSE Shariah21.0% |
| PEP PEPSICO INC | COMPLIANT | 0.38% | AAOIFI23.4% Usmani39.4% Dow Jones Islamic22.7% S&P Shariah22.0% MSCI Islamic39.4% MSCI Islamic M-Series22.0% FTSE Shariah39.4% |
The published standards disagree about this fund by 37 points of portfolio weight — 78.9% of it passes AAOIFI, 42.0% 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 78.9% ratios fail on 16.4% 4.6% not rated under AAOIFI
ratios pass on 51.7% ratios fail on 35.6% 12.6% not rated under Usmani
ratios pass on 77.9% ratios fail on 17.5% 4.6% not rated under Dow Jones Islamic
ratios pass on 76.8% ratios fail on 18.5% 4.6% not rated under S&P Shariah
ratios pass on 42.0% ratios fail on 40.9% 17.0% not rated under MSCI Islamic
ratios pass on 76.8% ratios fail on 18.5% 4.6% not rated under MSCI Islamic M-Series
ratios pass on 55.8% ratios fail on 31.5% 12.6% not rated under FTSE Shariah
48 of 51 listed holdings carry our own per-methodology verdicts (95% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 47 (93% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| AXP AMERICAN EXPRESS COMPANY | 3.00% |
| SCHW CHARLES SCHWAB CORP (THE) | 2.19% |
| MPC MARATHON PETROLEUM CORP | 2.02% |
| APH AMPHENOL CORP | 2.01% |
| MS MORGAN STANLEY | 1.91% |
| THC TENET HEALTHCARE CORP | 1.69% |
| GS GOLDMAN SACHS GROUP INC (THE) | 1.62% |
| ALL ALLSTATE CORP (THE) | 1.49% |
| JLL JONES LANG LASALLE INC | 1.33% |
| NEE NEXTERA ENERGY INC | 1.25% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
HVIA EQUITY FUND (HVEIX) 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 |
|---|---|---|
| NVDANVIDIA CORP | 5.57% | Compliant |
| MSFTMICROSOFT CORP | 5.14% | Questionable |
| AMZNAMAZON.COM INC | 4.94% | Questionable |
| GOOGALPHABET INC | 4.37% | Questionable |
| KLACKLA CORP | 3.92% | Compliant |
| AAPLAPPLE INC | 3.87% | Compliant |
| LLYELI LILLY & COMPANY | 3.08% | Compliant |
| METAMETA PLATFORMS INC | 3.05% | Questionable |
| AXPAMERICAN EXPRESS COMPANY | 3.00% | Non-compliant |
| VVISA INC | 2.90% | Compliant |
Top 10 of 51 holdings, 39.8% 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 HVEIX. 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) | 48.20 | NEUTRAL |
| Stochastic %K (14) | 46.39 | NEUTRAL |
| CCI (20) | -13.83 | NEUTRAL |
| Williams %R (14) | -53.61 | NEUTRAL |
| MACD (12,26,9) | -0.01 | SELL |
| ROC (10) | -0.66 | SELL |
| Momentum (10) | -0.20 | SELL |
| EMA (10) | 30.44 | SELL |
| SMA (10) | 30.56 | SELL |
| EMA (20) | 30.39 | SELL |
| SMA (20) | 30.33 | SELL |
| EMA (30) | 30.34 | SELL |
| SMA (30) | 30.27 | BUY |
| EMA (50) | 30.22 | BUY |
| SMA (50) | 30.38 | SELL |
| EMA (100) | 29.78 | BUY |
| SMA (100) | 29.88 | BUY |
| EMA (200) | 28.82 | BUY |
| SMA (200) | 28.65 | BUY |
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.