Verdicts genuinely change. Free email alert the moment IGNRX'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.
Nomura Natural Resources Fund · IVY FUNDS
48 holdings
NON-COMPLIANT 25.27% of portfolio weight is in non-compliant holdings, over the 5% threshold.
48 holdings, 38 matched (86% of weight). Portfolio as of 2026-06-30, filed 2026-08-26. Source: SEC Form N-PORT.
0.43% of this portfolio’s income is non-permissible — weighted across holdings, computed over 78% of portfolio weight (35 of 48 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.
61.1% compliant 0.0% questionable 25.2% non-compliant 13.7% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| FANG DIAMONDBACK ENERGY INC | COMPLIANT | 4.16% | AAOIFI22.6% Usmani18.0% Dow Jones Islamic28.3% S&P Shariah31.9% MSCI Islamic18.0% MSCI Islamic M-Series31.9% FTSE Shariah18.0% |
| CNQ CANADIAN NATURAL RESOURCES LTD | COMPLIANT | 4.11% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| NTR NUTRIEN LTD | NON_COMPLIANT | 4.05% | AAOIFI20.8% Usmani18.9% Dow Jones Islamic29.2% S&P Shariah31.1% MSCI Islamic18.9% MSCI Islamic M-Series31.1% FTSE Shariah18.9% |
| OVV OVINTIV INC | NON_COMPLIANT | 4.01% | AAOIFI27.8% Usmani26.1% Dow Jones Islamic41.7% S&P Shariah41.7% MSCI Islamic25.5% MSCI Islamic M-Series41.7% FTSE Shariah19.2% |
| CRH CRH PLC | COMPLIANT | 3.75% | AAOIFI31.8% Usmani33.7% Dow Jones Islamic27.6% S&P Shariah30.6% MSCI Islamic32.7% MSCI Islamic M-Series30.6% FTSE Shariah30.4% |
| BP.L BP PLC | NON_COMPLIANT | 3.24% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| GLEN.L GLENCORE PLC | NON_COMPLIANT | 3.17% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| CNR CORE NATURAL RESOURCES INC | COMPLIANT | 3.02% | AAOIFI9.1% Usmani7.3% Dow Jones Islamic11.1% S&P Shariah12.3% MSCI Islamic7.3% MSCI Islamic M-Series12.3% FTSE Shariah7.3% |
| HBM HUDBAY MINERALS INC | COMPLIANT | 2.99% | AAOIFI5.7% Usmani16.2% Dow Jones Islamic17.1% S&P Shariah22.3% MSCI Islamic16.2% MSCI Islamic M-Series22.3% FTSE Shariah16.2% |
| STLD STEEL DYNAMICS INC | COMPLIANT | 2.96% | AAOIFI12.1% Usmani24.4% Dow Jones Islamic17.6% S&P Shariah18.9% MSCI Islamic24.4% MSCI Islamic M-Series18.9% FTSE Shariah24.4% |
| COP CONOCOPHILLIPS | COMPLIANT | 2.84% | AAOIFI14.4% Usmani18.7% Dow Jones Islamic19.1% S&P Shariah18.8% MSCI Islamic18.7% MSCI Islamic M-Series18.8% FTSE Shariah18.7% |
| EXE EXPAND ENERGY CORP | COMPLIANT | 2.83% | AAOIFI22.5% Usmani17.3% Dow Jones Islamic22.5% S&P Shariah27.7% MSCI Islamic17.3% MSCI Islamic M-Series27.7% FTSE Shariah17.0% |
| SLB LTD | UNSCREENED | 2.63% | no in-house ratios for this holding |
| CTVA CORTEVA INC | COMPLIANT | 2.56% | AAOIFI2.9% Usmani4.0% Dow Jones Islamic3.6% S&P Shariah3.9% MSCI Islamic4.0% MSCI Islamic M-Series3.9% FTSE Shariah4.0% |
| SW SMURFIT WESTROCK PLC | NON_COMPLIANT | 2.46% | AAOIFI61.2% Usmani31.3% Dow Jones Islamic62.7% S&P Shariah90.7% MSCI Islamic31.3% MSCI Islamic M-Series90.7% FTSE Shariah31.3% |
| FNV FRANCO-NEVADA CORP | COMPLIANT | 2.46% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| AEM AGNICO EAGLE MINES LTD | COMPLIANT | 2.44% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| AAL.L ANGLO AMERICAN PLC | COMPLIANT | 2.36% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| IP INTERNATIONAL PAPER COMPANY | NON_COMPLIANT | 2.36% | AAOIFI50.2% Usmani27.3% Dow Jones Islamic47.6% S&P Shariah55.5% MSCI Islamic27.1% MSCI Islamic M-Series55.5% FTSE Shariah25.2% |
| KIMBELL ROYALTY PARTNERS LP | UNSCREENED | 2.30% | no in-house ratios for this holding |
| PR PERMIAN RESOURCES CORP | COMPLIANT | 2.25% | AAOIFI16.0% Usmani17.0% Dow Jones Islamic25.3% S&P Shariah28.1% MSCI Islamic16.9% MSCI Islamic M-Series28.1% FTSE Shariah16.2% |
| BG BUNGE GLOBAL SA | NON_COMPLIANT | 2.22% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| WFG WEST FRASER TIMBER COMPANY LTD | COMPLIANT | 2.16% | AAOIFI5.3% Usmani4.9% Dow Jones Islamic6.5% S&P Shariah6.4% MSCI Islamic4.9% MSCI Islamic M-Series6.4% FTSE Shariah4.9% |
| SHEL SHELL PLC | NON_COMPLIANT | 2.15% | AAOIFI38.4% Usmani20.4% Dow Jones Islamic17.6% S&P Shariah18.0% MSCI Islamic20.4% MSCI Islamic M-Series18.0% FTSE Shariah20.4% |
| COMMERCIAL METALS COMPANY | UNSCREENED | 2.13% | no in-house ratios for this holding |
| JBS NV | UNSCREENED | 2.06% | no in-house ratios for this holding |
| KGC KINROSS GOLD CORP | COMPLIANT | 1.98% | AAOIFI1.8% Usmani5.9% Dow Jones Islamic2.9% S&P Shariah3.7% MSCI Islamic5.9% MSCI Islamic M-Series3.7% FTSE Shariah5.9% |
| LPX LOUISIANA PACIFIC CORP | COMPLIANT | 1.70% | AAOIFI8.0% Usmani14.5% Dow Jones Islamic6.1% S&P Shariah6.5% MSCI Islamic14.5% MSCI Islamic M-Series6.5% FTSE Shariah13.3% |
| BTU PEABODY ENERGY CORP - | COMPLIANT | 1.64% | AAOIFI11.8% Usmani7.8% Dow Jones Islamic15.1% S&P Shariah14.8% MSCI Islamic7.8% MSCI Islamic M-Series14.8% FTSE Shariah6.2% |
| PPC PILGRIM'S PRIDE CORP | NON_COMPLIANT | 1.60% | AAOIFI43.6% Usmani31.0% Dow Jones Islamic33.3% S&P Shariah37.2% MSCI Islamic31.0% MSCI Islamic M-Series37.2% FTSE Shariah28.5% |
| G MINING VENTURES CORP (NEW) | UNSCREENED | 1.60% | no in-house ratios for this holding |
| AA ALCOA CORP | COMPLIANT | 1.59% | AAOIFI16.9% Usmani13.2% Dow Jones Islamic24.5% S&P Shariah28.1% MSCI Islamic13.2% MSCI Islamic M-Series28.1% FTSE Shariah13.2% |
| FM.TO FIRST QUANTUM MINERALS LTD | COMPLIANT | 1.51% | AAOIFI21.3% Usmani23.4% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic23.4% MSCI Islamic M-Seriesfail FTSE Shariah23.4% |
| CHRD CHORD ENERGY CORP | COMPLIANT | 1.49% | AAOIFI18.8% Usmani11.0% Dow Jones Islamic23.8% S&P Shariah23.8% MSCI Islamic11.0% MSCI Islamic M-Series23.8% FTSE Shariah10.8% |
| ACA ARCOSA INC | COMPLIANT | 1.34% | AAOIFI21.0% Usmani28.5% Dow Jones Islamic28.9% S&P Shariah31.5% MSCI Islamic28.5% MSCI Islamic M-Series31.5% FTSE Shariah27.1% |
| CDE COEUR MINING INC | COMPLIANT | 1.28% | AAOIFI0.0% Usmani0.1% Dow Jones Islamic0.1% S&P Shariah0.2% MSCI Islamic0.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| EGO ELDORADO GOLD CORP | COMPLIANT | 1.24% | AAOIFI8.2% Usmani19.0% Dow Jones Islamic24.3% S&P Shariah29.2% MSCI Islamic19.0% MSCI Islamic M-Series29.2% FTSE Shariah19.0% |
| WFRD WEATHERFORD INTERNATIONAL PLC | COMPLIANT | 1.20% | AAOIFI26.7% Usmani33.0% Dow Jones Islamic29.9% S&P Shariah26.6% MSCI Islamic31.8% MSCI Islamic M-Series26.6% FTSE Shariah29.0% |
| VLO VALERO ENERGY CORP | COMPLIANT | 1.14% | AAOIFI10.3% Usmani14.1% Dow Jones Islamic17.0% S&P Shariah18.0% MSCI Islamic14.1% MSCI Islamic M-Series18.0% FTSE Shariah14.1% |
| NPH.JO NORTHAM PLATINUM HOLDINGS LTD | COMPLIANT | 1.13% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| YCA.L YELLOW CAKE PLC | COMPLIANT | 1.07% | AAOIFIpass Usmanipass Dow Jones Islamic— S&P Shariah— MSCI Islamicpass MSCI Islamic M-Series— FTSE Shariahpass |
| NEM NEWMONT CORP | COMPLIANT | 0.98% | AAOIFI3.8% Usmani8.8% Dow Jones Islamic6.1% S&P Shariah7.4% MSCI Islamic8.8% MSCI Islamic M-Series7.4% FTSE Shariah8.8% |
| CF CF INDUSTRIES HOLDINGS INC | COMPLIANT | 0.98% | AAOIFI17.9% Usmani23.9% Dow Jones Islamic24.1% S&P Shariah24.7% MSCI Islamic23.9% MSCI Islamic M-Series24.7% FTSE Shariah21.3% |
| BLACKROCK LIQUIDITY FUNDS | UNSCREENED | 0.73% | no in-house ratios for this holding |
| FIDELITY COLCHESTER STREET TRUST | UNSCREENED | 0.73% | no in-house ratios for this holding |
| MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS | UNSCREENED | 0.73% | no in-house ratios for this holding |
| GOLDMAN SACHS TRUST | UNSCREENED | 0.73% | no in-house ratios for this holding |
| China Metal Recycling Holdings | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 23 points of portfolio weight — 71.5% of it passes FTSE Shariah, 48.1% passes MSCI Islamic M-Series. 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 57.6% ratios fail on 18.7% 23.7% not rated under AAOIFI
ratios pass on 71.4% ratios fail on 5.0% 23.7% not rated under Usmani
ratios pass on 49.7% ratios fail on 21.9% 28.5% not rated under Dow Jones Islamic
ratios pass on 50.9% ratios fail on 20.7% 28.5% not rated under S&P Shariah
ratios pass on 67.8% ratios fail on 4.9% 27.4% not rated under MSCI Islamic
ratios pass on 48.1% ratios fail on 23.6% 28.5% not rated under MSCI Islamic M-Series
ratios pass on 71.5% ratios fail on 1.2% 27.4% not rated under FTSE Shariah
38 of 48 listed holdings carry our own per-methodology verdicts (86% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 30 (67% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Nomura Natural Resources Fund (IGNRX) 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 |
|---|---|---|
| FANGDIAMONDBACK ENERGY INC | 4.16% | Compliant |
| CNQCANADIAN NATURAL RESOURCES LTD | 4.11% | Compliant |
| NTRNUTRIEN LTD | 4.05% | Non-compliant |
| OVVOVINTIV INC | 4.01% | Non-compliant |
| CRHCRH PLC | 3.75% | Compliant |
| BP.LBP PLC | 3.24% | Non-compliant |
| GLEN.LGLENCORE PLC | 3.17% | Non-compliant |
| CNRCORE NATURAL RESOURCES INC | 3.02% | Compliant |
| HBMHUDBAY MINERALS INC | 2.99% | Compliant |
| STLDSTEEL DYNAMICS INC | 2.96% | Compliant |
Top 10 of 48 holdings, 35.5% 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 IGNRX. 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 4 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) | 47.40 | NEUTRAL |
| Stochastic %K (14) | 81.40 | SELL |
| CCI (20) | 20.02 | NEUTRAL |
| Williams %R (14) | -18.60 | SELL |
| MACD (12,26,9) | 0.06 | BUY |
| ROC (10) | 3.04 | BUY |
| Momentum (10) | 0.70 | BUY |
| EMA (10) | 23.57 | BUY |
| SMA (10) | 23.48 | BUY |
| EMA (20) | 23.73 | SELL |
| SMA (20) | 23.59 | BUY |
| EMA (30) | 23.87 | SELL |
| SMA (30) | 24.11 | SELL |
| EMA (50) | 23.95 | SELL |
| SMA (50) | 24.44 | SELL |
| EMA (100) | 23.74 | SELL |
| SMA (100) | 23.66 | BUY |
| EMA (200) | 23.06 | BUY |
| SMA (200) | 23.48 | 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.