Verdicts genuinely change. Free email alert the moment INDQ'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.
Pacer ActiveAlpha India Quality ETF · Pacer Funds Trust
29 holdings · as of 2026-07-31 (2.4 months ago)
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 15.58% of portfolio weight is in non-compliant holdings, over the 5% threshold.
29 holdings, 28 matched (96% of weight). Portfolio as of 2026-07-31, filed 2026-09-29. Source: SEC Form N-PORT.
1.66% of this portfolio’s income is non-permissible — weighted across holdings, computed over 87% of portfolio weight (25 of 29 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.
80.7% compliant 0.0% questionable 15.4% non-compliant 3.9% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| TITAN.NS Titan Co Ltd | COMPLIANT | 5.56% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| EICHERMOT.BO Eicher Motors Ltd | COMPLIANT | 5.36% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| HEROMOTOCO.NS Hero MotoCorp Ltd | COMPLIANT | 4.86% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| RDY Dr Reddy's Laboratories Ltd | COMPLIANT | 4.27% | AAOIFI1.0% Usmani1.8% Dow Jones Islamic0.9% S&P Shariah0.9% MSCI Islamic1.8% MSCI Islamic M-Series0.9% FTSE Shariah1.8% |
| INDUSTOWER.NS Indus Towers Ltd | COMPLIANT | 4.27% | AAOIFIpass Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ASTRAL.NS Astral Ltd | COMPLIANT | 4.19% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| NATIONALUM.NS National Aluminium Co Ltd | COMPLIANT | 4.02% | AAOIFI0.3% Usmani1.0% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.8% MSCI Islamic M-Seriespass FTSE Shariah0.8% |
| LALPATHLAB.NS Dr Lal PathLabs Ltd | COMPLIANT | 4.02% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| Nippon Life India Asset Manage | UNSCREENED | 3.90% | no in-house ratios for this holding |
| TORNTPHARM.NS Torrent Pharmaceuticals Ltd | COMPLIANT | 3.58% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| NESTLEIND.NS Nestle India Ltd | COMPLIANT | 3.58% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| POLYCAB.NS Polycab India Ltd | COMPLIANT | 3.57% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| BAJAJ-AUTO.NS Bajaj Auto Ltd | COMPLIANT | 3.57% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| MAHABANK.NS Bank of Maharashtra | NON_COMPLIANT | 3.47% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ZENTEC.BO Zen Technologies Ltd | NON_COMPLIANT | 3.41% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| AUBANK.NS AU Small Finance Bank Ltd | NON_COMPLIANT | 3.38% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CUMMINSIND.NS Cummins India Ltd | COMPLIANT | 3.35% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| MARICO.NS Marico Ltd | COMPLIANT | 3.24% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| MARUTI.NS Maruti Suzuki India Ltd | COMPLIANT | 3.15% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| NMDC.BO NMDC Ltd | COMPLIANT | 3.02% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| HINDCOPPER.BO Hindustan Copper Ltd | COMPLIANT | 2.79% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| BRITANNIA.NS Britannia Industries Ltd | COMPLIANT | 2.75% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| CANBK.NS Canara Bank | NON_COMPLIANT | 2.75% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NATCOPHARM.NS Natco Pharma Ltd | NON_COMPLIANT | 2.58% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| COALINDIA.NS Coal India Ltd | COMPLIANT | 2.57% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| APLAPOLLO.NS APL Apollo Tubes Ltd | COMPLIANT | 2.56% | AAOIFI0.8% Usmani6.1% Dow Jones Islamic— S&P Shariah— MSCI Islamic5.6% MSCI Islamic M-Series— FTSE Shariah5.6% |
| DMART.NS Avenue Supermarts Ltd | COMPLIANT | 2.55% | AAOIFI1.0% Usmani13.2% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic8.2% MSCI Islamic M-Seriespass FTSE Shariah8.2% |
| ALKEM.NS Alkem Laboratories Ltd | COMPLIANT | 2.53% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| TIMKEN.BO Timken India Ltd | COMPLIANT | 2.17% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
The published standards disagree about this fund by 34 points of portfolio weight — 77.3% of it passes AAOIFI, 43.5% 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 77.3% ratios fail on 15.6% 8.2% not rated under AAOIFI
ratios pass on 51.6% ratios fail on 41.2% 8.2% not rated under Usmani
ratios pass on 70.4% ratios fail on 19.9% 10.7% not rated under Dow Jones Islamic
ratios pass on 70.4% ratios fail on 19.9% 10.7% not rated under S&P Shariah
ratios pass on 43.5% ratios fail on 49.3% 8.2% not rated under MSCI Islamic
ratios pass on 70.4% ratios fail on 19.9% 10.7% not rated under MSCI Islamic M-Series
ratios pass on 55.9% ratios fail on 36.9% 8.2% not rated under FTSE Shariah
28 of 29 listed holdings carry our own per-methodology verdicts (97% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 4 (13% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| MAHABANK.NS Bank of Maharashtra | 3.47% |
| ZENTEC.BO Zen Technologies Ltd | 3.41% |
| AUBANK.NS AU Small Finance Bank Ltd | 3.38% |
| CANBK.NS Canara Bank | 2.75% |
| NATCOPHARM.NS Natco Pharma Ltd | 2.58% |
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.
Pacer ActiveAlpha India Quality ETF (INDQ) 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 INDQ — 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
Not enough completed daily bars to compute pivots.
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) | 36.60 | NEUTRAL |
| Stochastic %K (14) | 25.14 | NEUTRAL |
| CCI (20) | -77.38 | NEUTRAL |
| Williams %R (14) | -74.86 | NEUTRAL |
| MACD (12,26,9) | -0.05 | SELL |
| ROC (10) | -3.05 | SELL |
| Momentum (10) | -0.77 | SELL |
| EMA (10) | 24.54 | SELL |
| SMA (10) | 24.53 | SELL |
| EMA (20) | 24.91 | SELL |
| SMA (20) | 24.93 | SELL |
| EMA (30) | 25.17 | SELL |
| SMA (30) | 25.31 | SELL |
| EMA (50) | 25.50 | SELL |
| SMA (50) | 25.90 | SELL |
| EMA (100) | 25.84 | SELL |
| SMA (100) | 25.99 | SELL |
| EMA (200) | 26.12 | SELL |
Under normal circumstances, at least 80% of the fund’s net assets (plus any borrowings for investment purposes) will be invested in equity securities of Indian companies. The index uses an objective, rules-based methodology to provide exposure to high quality companies in India. It is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
No real edge — avoid
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 | 41 |
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.