IAIETF / FundiShares U.S. Broker-Dealers & Securities Exchanges ETF
Verdicts genuinely change. Free email alert the moment IAI'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.
iShares U.S. Broker-Dealers & Securities Exchanges ETF ETF · iShares Trust
38 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.
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 101% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 84.20% of portfolio weight is in non-compliant holdings, over the 5% threshold.
38 holdings, 33 matched (94% of weight). Portfolio as of 2026-06-30, filed 2026-08-24. Source: SEC Form N-PORT.
9.70% of this portfolio’s income is non-permissible — weighted across holdings, computed over 73% of portfolio weight (30 of 38 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.
11.0% compliant 0.0% questionable 83.5% non-compliant 5.5% unscreened
All holdings (38)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| GS THE GOLDMAN SACHS GROUP, INC. | NON_COMPLIANT | 20.57% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
| MS MORGAN STANLEY | NON_COMPLIANT | 17.27% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| SCHW THE CHARLES SCHWAB CORPORATION | NON_COMPLIANT | 8.61% | AAOIFI14.6% Usmani5.3% Dow Jones Islamic18.7% S&P Shariah22.0% MSCI Islamic5.3% MSCI Islamic M-Series22.0% FTSE Shariah5.3% |
| HOOD ROBINHOOD MARKETS, INC. | NON_COMPLIANT | 5.31% | AAOIFI0.2% Usmani0.4% Dow Jones Islamic0.3% S&P Shariah0.4% MSCI Islamic0.4% MSCI Islamic M-Series0.4% FTSE Shariah0.0% |
| MOODY'S CORPORATION | UNSCREENED | 4.60% | no in-house ratios for this holding |
| SPGI S&P GLOBAL INC. | COMPLIANT | 4.37% | AAOIFI10.6% Usmani22.9% Dow Jones Islamic9.4% S&P Shariah9.8% MSCI Islamic22.9% MSCI Islamic M-Series9.8% FTSE Shariah21.9% |
| ICE INTERCONTINENTAL EXCHANGE, INC. | NON_COMPLIANT | 4.01% | AAOIFI23.2% Usmani11.8% Dow Jones Islamic22.5% S&P Shariah24.2% MSCI Islamic11.8% MSCI Islamic M-Series24.2% FTSE Shariah11.4% |
| MSCI MSCI INC. | COMPLIANT | 3.89% | AAOIFI15.7% Usmani116.8% Dow Jones Islamic15.3% S&P Shariah15.6% MSCI Islamic116.8% MSCI Islamic M-Series15.6% FTSE Shariah113.9% |
| CME CME GROUP INC. | NON_COMPLIANT | 3.83% | AAOIFI0.4% Usmani0.2% Dow Jones Islamic2.3% S&P Shariah2.5% MSCI Islamic0.2% MSCI Islamic M-Series2.5% FTSE Shariah0.0% |
| IBKR INTERACTIVE BROKERS GROUP, INC. | NON_COMPLIANT | 3.70% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| NDAQ NASDAQ, INC. | NON_COMPLIANT | 3.36% | AAOIFI17.2% Usmani34.1% Dow Jones Islamic19.3% S&P Shariah21.8% MSCI Islamic34.1% MSCI Islamic M-Series21.8% FTSE Shariah32.0% |
| COIN COINBASE GLOBAL, INC. | NON_COMPLIANT | 3.11% | AAOIFI13.1% Usmani23.2% Dow Jones Islamic9.7% S&P Shariah10.8% MSCI Islamic23.2% MSCI Islamic M-Series10.8% FTSE Shariah22.5% |
| RJF RAYMOND JAMES FINANCIAL, INC. | NON_COMPLIANT | 2.52% | AAOIFI2.8% Usmani1.0% Dow Jones Islamic3.1% S&P Shariah3.4% MSCI Islamic1.0% MSCI Islamic M-Series3.4% FTSE Shariah1.0% |
| CBOE CBOE GLOBAL MARKETS, INC. | NON_COMPLIANT | 2.42% | AAOIFI4.9% Usmani14.9% Dow Jones Islamic6.2% S&P Shariah6.8% MSCI Islamic14.9% MSCI Islamic M-Series6.8% FTSE Shariah13.6% |
| LPLA LPL FINANCIAL HOLDINGS INC. | NON_COMPLIANT | 2.15% | AAOIFI27.1% Usmani37.7% Dow Jones Islamic28.8% S&P Shariah32.0% MSCI Islamic37.7% MSCI Islamic M-Series32.0% FTSE Shariah37.7% |
| EVR EVERCORE INC. | NON_COMPLIANT | 1.26% | AAOIFI4.8% Usmani11.8% Dow Jones Islamic4.6% S&P Shariah5.3% MSCI Islamic11.8% MSCI Islamic M-Series5.3% FTSE Shariah0.0% |
| TW TRADEWEB MARKETS INC. | COMPLIANT | 1.10% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| SF STIFEL FINANCIAL CORP. | NON_COMPLIANT | 1.02% | AAOIFI6.0% Usmani1.7% Dow Jones Islamic9.9% S&P Shariah11.2% MSCI Islamic1.7% MSCI Islamic M-Series11.2% FTSE Shariah1.7% |
| BlackRock Funds III: BlackRock Cash Funds: Institutional; SL Agency Shares | UNSCREENED | 0.81% | no in-house ratios for this holding |
| FDS FACTSET RESEARCH SYSTEMS INC. | COMPLIANT | 0.80% | AAOIFI14.6% Usmani37.5% Dow Jones Islamic12.1% S&P Shariah11.2% MSCI Islamic37.5% MSCI Islamic M-Series11.2% FTSE Shariah33.2% |
| SNEX STONEX GROUP INC. | NON_COMPLIANT | 0.80% | AAOIFI21.7% Usmani3.4% Dow Jones Islamic34.4% S&P Shariah42.8% MSCI Islamic3.4% MSCI Islamic M-Series42.8% FTSE Shariah3.4% |
| JEF JEFFERIES FINANCIAL GROUP INC. | NON_COMPLIANT | 0.78% | AAOIFI155.4% Usmani25.1% Dow Jones Islamic171.6% S&P Shariah188.8% MSCI Islamic25.1% MSCI Islamic M-Series188.8% FTSE Shariah25.1% |
| HLI HOULIHAN LOKEY, INC. | NON_COMPLIANT | 0.69% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| MC MOELIS & COMPANY | NON_COMPLIANT | 0.47% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| PIPR PIPER SANDLER COMPANIES | NON_COMPLIANT | 0.47% | AAOIFI0.3% Usmani0.6% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic0.6% MSCI Islamic M-Series0.3% FTSE Shariah0.6% |
| VIRT VIRTU FINANCIAL, INC. | NON_COMPLIANT | 0.47% | AAOIFI21.8% Usmani7.4% Dow Jones Islamic32.2% S&P Shariah39.0% MSCI Islamic7.4% MSCI Islamic M-Series39.0% FTSE Shariah7.4% |
| LAZ LAZARD, INC. | NON_COMPLIANT | 0.46% | AAOIFI39.3% Usmani39.8% Dow Jones Islamic32.3% S&P Shariah35.6% MSCI Islamic39.8% MSCI Islamic M-Series35.6% FTSE Shariah39.8% |
| MKTX MARKETAXESS HOLDINGS INC. | COMPLIANT | 0.39% | AAOIFI2.0% Usmani4.8% Dow Jones Islamic1.6% S&P Shariah1.6% MSCI Islamic4.8% MSCI Islamic M-Series1.6% FTSE Shariah4.8% |
| BGC BGC GROUP, INC. | NON_COMPLIANT | 0.38% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| PJT PJT PARTNERS INC. | NON_COMPLIANT | 0.37% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| MORN MORNINGSTAR, INC. | COMPLIANT | 0.33% | AAOIFI25.6% Usmani48.7% Dow Jones Islamic18.5% S&P Shariah17.7% MSCI Islamic48.7% MSCI Islamic M-Series17.7% FTSE Shariah43.9% |
| BlackRock Funds III: BlackRock Cash Funds: Treasury; SL Agency Shares | UNSCREENED | 0.13% | no in-house ratios for this holding |
| MIAX MIAMI INTERNATIONAL HOLDINGS, INC. | COMPLIANT | 0.11% | AAOIFI0.5% Usmani1.4% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic1.4% MSCI Islamic M-Seriespass FTSE Shariah0.1% |
| PWP PERELLA WEINBERG PARTNERS | NON_COMPLIANT | 0.11% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| DFIN DONNELLEY FINANCIAL SOLUTIONS, INC. | COMPLIANT | 0.10% | AAOIFI16.9% Usmani25.4% Dow Jones Islamic14.7% S&P Shariah13.7% MSCI Islamic25.4% MSCI Islamic M-Series13.7% FTSE Shariah24.5% |
| OPY OPPENHEIMER HOLDINGS INC. | NON_COMPLIANT | 0.06% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| XAF FINANCIAL SEP26 | UNSCREENED | 0.00% | no in-house ratios for this holding |
| E MINI RUSS 2000 SEP26 | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 16 points of portfolio weight — 20.0% of it passes AAOIFI, 4.5% 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 20.0% ratios fail on 75.3% 5.5% not rated under AAOIFI
ratios pass on 4.5% ratios fail on 60.7% 35.7% not rated under Usmani
ratios pass on 20.0% ratios fail on 75.3% 5.5% not rated under Dow Jones Islamic
ratios pass on 20.0% ratios fail on 75.3% 5.5% not rated under S&P Shariah
ratios pass on 6.0% ratios fail on 60.7% 34.2% not rated under MSCI Islamic
ratios pass on 20.0% ratios fail on 75.3% 5.5% not rated under MSCI Islamic M-Series
ratios pass on 10.1% ratios fail on 56.5% 34.2% not rated under FTSE Shariah
33 of 38 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, 32 (95% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| GS THE GOLDMAN SACHS GROUP, INC. | 20.57% |
| MS MORGAN STANLEY | 17.27% |
| SCHW THE CHARLES SCHWAB CORPORATION | 8.61% |
| HOOD ROBINHOOD MARKETS, INC. | 5.31% |
| ICE INTERCONTINENTAL EXCHANGE, INC. | 4.01% |
| CME CME GROUP INC. | 3.83% |
| IBKR INTERACTIVE BROKERS GROUP, INC. | 3.70% |
| NDAQ NASDAQ, INC. | 3.36% |
| COIN COINBASE GLOBAL, INC. | 3.11% |
| RJF RAYMOND JAMES FINANCIAL, INC. | 2.52% |
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.
iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) 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 IAI — this runs off the critical path so the page paints first. It will appear here on its own.
| Investor | Firm | Position | Weight | As of |
|---|---|---|---|---|
| Ken Fisher | Fisher Asset Management | $104M | 0.0% | 2026-06-30 |
From the most recent 13F on file. A 13F reports long US equity positions quarterly and in arrears — it is what a manager held on the report date, not what they hold today.
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) | 47.40 | NEUTRAL |
| Stochastic %K (14) | 70.11 | NEUTRAL |
| CCI (20) | 100.42 | SELL |
| Williams %R (14) | -29.89 | NEUTRAL |
| MACD (12,26,9) | 0.64 | BUY |
| ROC (10) | 0.34 | BUY |
| Momentum (10) | 0.60 | BUY |
| EMA (10) | 177.64 | BUY |
| SMA (10) | 177.01 | BUY |
| EMA (20) | 178.33 | SELL |
| SMA (20) | 177.05 | BUY |
| EMA (30) | 179.58 | SELL |
| SMA (30) | 178.70 | SELL |
| EMA (50) | 181.41 | SELL |
| SMA (50) | 184.05 | SELL |
| EMA (100) | 182.29 | SELL |
| SMA (100) | 184.87 | SELL |
| EMA (200) | 179.59 | SELL |
| SMA (200) | 179.34 | SELL |
About iShares U.S. Broker-Dealers & Securities Exchanges ETF
The index measures the performance of the investment services sector of the U.S. equity market, as defined by SPDJI. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and may invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents. It is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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 | RANGING | 42 |
| ⏰ 4H | BULLISH | 24 |
| 🕐 1H | BULLISH | 98 |
| ⏱ 15-Min | BEARISH | 130 |
| ⏲ 5-Min | BEARISH | 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.