Verdicts genuinely change. Free email alert the moment IGAEX'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.
Ashmore Emerging Markets Debt Fund · Ashmore Funds
100 holdings
NON-COMPLIANT At least 8.46% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 89% turns out to be. Matching more holdings can only raise this share, never lower it.
8.46% of that is conventional interest-bearing debt, identified from the fund's own filing rather than by screening an issuer. Sukuk are deliberately excluded from this test and are never counted here.
100 holdings, 1 matched (9% of weight). Portfolio as of 2026-07-31, filed 2026-09-28. Source: SEC Form N-PORT.
Portfolio shares are withheld: coverage is below the floor needed to state one. The holdings themselves are below, because the names are evidence you can check.
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 8.46% | no in-house ratios for this holding |
| PETROLEOS DE VENEZUELA SA | UNSCREENED | 3.85% | no in-house ratios for this holding |
| ANGOLA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 2.31% | no in-house ratios for this holding |
| DOMINICAN, REPUBLIC OF - MINISTERIO DE HACIENDA | UNSCREENED | 2.05% | no in-house ratios for this holding |
| UZBEKISTAN, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.88% | no in-house ratios for this holding |
| COTE D'IVOIRE, REPUBLIC OF | UNSCREENED | 1.86% | no in-house ratios for this holding |
| TURKEY, REPUBLIC OF UNDERSECRETARIAT OF TREASURY | UNSCREENED | 1.85% | no in-house ratios for this holding |
| VENEZUELA, BOLIVARIAN REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.84% | no in-house ratios for this holding |
| EMPRESA NACIONAL DEL PETROLEO SA | UNSCREENED | 1.83% | no in-house ratios for this holding |
| MOROCCO, KINGDOM OF - MINISTRY OF FINANCE AND FOREIGN INVESTMENT | UNSCREENED | 1.80% | no in-house ratios for this holding |
| GUATEMALA, REPUBLIC OF - MINISTRY OF PUBLIC FINANCE | UNSCREENED | 1.78% | no in-house ratios for this holding |
| COLOMBIA, REPUBLIC OF - MINISTERO DE HACIENDA Y CREDITO PUBLICO | UNSCREENED | 1.78% | no in-house ratios for this holding |
| KAZAKHSTAN, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.78% | no in-house ratios for this holding |
| EGYPT, ARAB REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.76% | no in-house ratios for this holding |
| NIGERIA, FEDERAL REPUBLIC OF - DEBT MANAGEMENT OFFICE (THE) | UNSCREENED | 1.75% | no in-house ratios for this holding |
| OMAN, GOVERNMENT OF THE SULTANATE OF | UNSCREENED | 1.75% | no in-house ratios for this holding |
| PARAGUAY, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.74% | no in-house ratios for this holding |
| NIGERIA, FEDERAL REPUBLIC OF - DEBT MANAGEMENT OFFICE (THE) | UNSCREENED | 1.74% | no in-house ratios for this holding |
| BAPCO ENERGIES BSC | UNSCREENED | 1.72% | no in-house ratios for this holding |
| SUCI SECOND INVESTMENT COMPANY | UNSCREENED | 1.71% | no in-house ratios for this holding |
| HUNGARY, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.68% | no in-house ratios for this holding |
| CORPORACION NACIONAL DEL COBRE DEL CHILE SA | UNSCREENED | 1.68% | no in-house ratios for this holding |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL | UNSCREENED | 1.65% | no in-house ratios for this holding |
| TURKEY, REPUBLIC OF UNDERSECRETARIAT OF TREASURY | UNSCREENED | 1.64% | no in-house ratios for this holding |
| COSTA RICA, REPUBLIC OF | UNSCREENED | 1.60% | no in-house ratios for this holding |
| MONGOLIA, GOVERNMENT OF | UNSCREENED | 1.59% | no in-house ratios for this holding |
| ARGENTINA, REPUBLIC OF - SUBSECRETARIA DE FINANCIAMIENTO | UNSCREENED | 1.56% | no in-house ratios for this holding |
| VENEZUELA, BOLIVARIAN REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.55% | no in-house ratios for this holding |
| PETRONAS CAPITAL LTD | UNSCREENED | 1.51% | no in-house ratios for this holding |
| HUNGARY, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.47% | no in-house ratios for this holding |
| PETROLEOS DEL PERU' - PETROPERU SA | UNSCREENED | 1.44% | no in-house ratios for this holding |
| SAUDI ARABIA, KINGDOM OF | UNSCREENED | 1.43% | no in-house ratios for this holding |
| PHILIPPINES, REPUBLIC OF - DEPARTMENT OF FINANCE | UNSCREENED | 1.41% | no in-house ratios for this holding |
| PETRONAS CAPITAL LTD | UNSCREENED | 1.41% | no in-house ratios for this holding |
| INDONESIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.40% | no in-house ratios for this holding |
| SOUTH AFRICA, REPUBLIC OF - NATIONAL TREASURY | UNSCREENED | 1.40% | no in-house ratios for this holding |
| PANAMA, REPUBLIC OF - MINISTRY OF PLANNING AND ECONOMIC POLICY | UNSCREENED | 1.30% | no in-house ratios for this holding |
| INDONESIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.27% | no in-house ratios for this holding |
| GHANA, REPUBLIC OF | UNSCREENED | 1.12% | no in-house ratios for this holding |
| PANAMA, REPUBLIC OF - MINISTRY OF PLANNING AND ECONOMIC POLICY | UNSCREENED | 1.09% | no in-house ratios for this holding |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL | UNSCREENED | 1.06% | no in-house ratios for this holding |
| VENEZUELA, BOLIVARIAN REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 1.04% | no in-house ratios for this holding |
| UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO | UNSCREENED | 0.97% | no in-house ratios for this holding |
| PHILIPPINES, REPUBLIC OF - DEPARTMENT OF FINANCE | UNSCREENED | 0.95% | no in-house ratios for this holding |
| PETROLEOS MEXICANOS SA DE CV | UNSCREENED | 0.92% | no in-house ratios for this holding |
| ARGENTINA, REPUBLIC OF - SUBSECRETARIA DE FINANCIAMIENTO | UNSCREENED | 0.87% | no in-house ratios for this holding |
| PANAMA, REPUBLIC OF - MINISTRY OF PLANNING AND ECONOMIC POLICY | UNSCREENED | 0.80% | no in-house ratios for this holding |
| PERU, REPUBLIC OF - DIRECCION GENERAL DE CREDITO PUBLICO | UNSCREENED | 0.79% | no in-house ratios for this holding |
| PETROLEOS MEXICANOS SA DE CV | UNSCREENED | 0.69% | no in-house ratios for this holding |
| UKRAINE, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.69% | no in-house ratios for this holding |
| UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO | UNSCREENED | 0.59% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.55% | no in-house ratios for this holding |
| GHANA, REPUBLIC OF | UNSCREENED | 0.55% | no in-house ratios for this holding |
| ARGENTINA, REPUBLIC OF - SUBSECRETARIA DE FINANCIAMIENTO | UNSCREENED | 0.52% | no in-house ratios for this holding |
| URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS | UNSCREENED | 0.51% | no in-house ratios for this holding |
| UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO | UNSCREENED | 0.50% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.50% | no in-house ratios for this holding |
| ECUADOR, REPUBLICA DEL - MINISTERIO DE FINANZAS Y CREDITO PUBLICO | UNSCREENED | 0.49% | no in-house ratios for this holding |
| PERU, REPUBLIC OF - DIRECCION GENERAL DE CREDITO PUBLICO | UNSCREENED | 0.48% | no in-house ratios for this holding |
| UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO | UNSCREENED | 0.48% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.47% | no in-house ratios for this holding |
| ARGENTINA, REPUBLIC OF - SUBSECRETARIA DE FINANCIAMIENTO | UNSCREENED | 0.43% | no in-house ratios for this holding |
| UKRAINE, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.42% | no in-house ratios for this holding |
| UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO | UNSCREENED | 0.41% | no in-house ratios for this holding |
| POLAND, REPUBLIC OF - STATE TREASURY | UNSCREENED | 0.38% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.38% | no in-house ratios for this holding |
| URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS | UNSCREENED | 0.37% | no in-house ratios for this holding |
| PERU, REPUBLIC OF - DIRECCION GENERAL DE CREDITO PUBLICO | UNSCREENED | 0.36% | no in-house ratios for this holding |
| ECUADOR, REPUBLICA DEL - MINISTERIO DE FINANZAS Y CREDITO PUBLICO | UNSCREENED | 0.35% | no in-house ratios for this holding |
| POLAND, REPUBLIC OF - STATE TREASURY | UNSCREENED | 0.33% | no in-house ratios for this holding |
| URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS | UNSCREENED | 0.31% | no in-house ratios for this holding |
| POLAND, REPUBLIC OF - STATE TREASURY | UNSCREENED | 0.31% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.29% | no in-house ratios for this holding |
| ARGENTINA, REPUBLIC OF - SUBSECRETARIA DE FINANCIAMIENTO | UNSCREENED | 0.29% | no in-house ratios for this holding |
| UKRAINE, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.24% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.23% | no in-house ratios for this holding |
| PETROLEOS MEXICANOS SA DE CV | UNSCREENED | 0.23% | no in-house ratios for this holding |
| PERU, REPUBLIC OF - DIRECCION GENERAL DE CREDITO PUBLICO | UNSCREENED | 0.23% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.23% | no in-house ratios for this holding |
| ZAMBIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.23% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.22% | no in-house ratios for this holding |
| URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS | UNSCREENED | 0.22% | no in-house ratios for this holding |
| EL SALVADOR, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.21% | no in-house ratios for this holding |
| URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS | UNSCREENED | 0.21% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.18% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.18% | no in-house ratios for this holding |
| POLAND, REPUBLIC OF - STATE TREASURY | UNSCREENED | 0.17% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.17% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.16% | no in-house ratios for this holding |
| URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS | UNSCREENED | 0.16% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.13% | no in-house ratios for this holding |
| PERU, REPUBLIC OF - DIRECCION GENERAL DE CREDITO PUBLICO | UNSCREENED | 0.12% | no in-house ratios for this holding |
| ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.12% | no in-house ratios for this holding |
| GHANA, REPUBLIC OF | UNSCREENED | 0.10% | no in-house ratios for this holding |
| UKRAINE, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.10% | no in-house ratios for this holding |
| UKRAINE, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.09% | no in-house ratios for this holding |
| UKRAINE, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.07% | no in-house ratios for this holding |
| POLAND, REPUBLIC OF - STATE TREASURY | UNSCREENED | 0.07% | no in-house ratios for this holding |
| BULGARIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.05% | no in-house ratios for this holding |
| UKRAINE, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.03% | no in-house ratios for this holding |
| Non-compliant holding | Weight |
|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 8.46% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Ashmore Emerging Markets Debt Fund (IGAEX) 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 |
|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBTnot matched to a ticker | 8.46% | Non-compliant |
| PETROLEOS DE VENEZUELA SAnot matched to a ticker | 3.85% | Not screened |
| ANGOLA, REPUBLIC OF - MINISTRY OF FINANCEnot matched to a ticker | 2.31% | Not screened |
| DOMINICAN, REPUBLIC OF - MINISTERIO DE HACIENDAnot matched to a ticker | 2.05% | Not screened |
| UZBEKISTAN, REPUBLIC OF - MINISTRY OF FINANCEnot matched to a ticker | 1.88% | Not screened |
| COTE D'IVOIRE, REPUBLIC OFnot matched to a ticker | 1.86% | Not screened |
| TURKEY, REPUBLIC OF UNDERSECRETARIAT OF TREASURYnot matched to a ticker | 1.85% | Not screened |
| VENEZUELA, BOLIVARIAN REPUBLIC OF - MINISTRY OF FINANCEnot matched to a ticker | 1.84% | Not screened |
| EMPRESA NACIONAL DEL PETROLEO SAnot matched to a ticker | 1.83% | Not screened |
| MOROCCO, KINGDOM OF - MINISTRY OF FINANCE AND FOREIGN INVESTMENTnot matched to a ticker | 1.80% | Not screened |
Top 10 of 100 holdings, 27.7% 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 IGAEX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
ℹ️ no compliance scan has run for 3 days - this is not a reading of today
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) | 42.30 | NEUTRAL |
| Stochastic %K (14) | 71.43 | NEUTRAL |
| CCI (20) | -18.32 | NEUTRAL |
| Williams %R (14) | -28.57 | NEUTRAL |
| MACD (12,26,9) | 0.01 | BUY |
| ROC (10) | 0.57 | BUY |
| Momentum (10) | 0.05 | BUY |
| EMA (10) | 8.74 | BUY |
| SMA (10) | 8.71 | BUY |
| EMA (20) | 8.77 | SELL |
| SMA (20) | 8.77 | SELL |
| EMA (30) | 8.80 | SELL |
| SMA (30) | 8.83 | SELL |
| EMA (50) | 8.84 | SELL |
| SMA (50) | 8.88 | SELL |
| EMA (100) | 8.87 | SELL |
| SMA (100) | 8.92 | SELL |
| EMA (200) | 8.81 | SELL |
| SMA (200) | 8.86 | 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.