Verdicts genuinely change. Free email alert the moment IOBZX'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.
ICON FLEXIBLE BOND FUND · SCM Trust
157 holdings
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 104% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT At least 28.54% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 75% turns out to be. Matching more holdings can only raise this share, never lower it.
0.57% 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.
157 holdings, 56 matched (28% of weight). Portfolio as of 2026-06-30, filed 2026-08-31. Source: SEC Form N-PORT.
9.85% of this portfolio’s income is non-permissible — weighted across holdings, computed over 14% of portfolio weight (32 of 157 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.
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 |
|---|---|---|---|
| N/A | UNSCREENED | 4.16% | no in-house ratios for this holding |
| FIDELITY COLCHESTER STREET TRUST | UNSCREENED | 3.27% | no in-house ratios for this holding |
| UMH PROPERTIES INC | UNSCREENED | 2.45% | no in-house ratios for this holding |
| STWD 2021-FL2 LTD | UNSCREENED | 2.38% | no in-house ratios for this holding |
| PNC PNC FINANCIAL SERVICES GROUP INC (THE) | NON_COMPLIANT | 2.24% | AAOIFI87.5% Usmani13.9% Dow Jones Islamic110.0% S&P Shariah122.6% MSCI Islamic13.9% MSCI Islamic M-Series122.6% FTSE Shariah13.9% |
| JP MORGAN CHASE & COMPANY | UNSCREENED | 2.17% | no in-house ratios for this holding |
| CRESCENT BK AUTO TR 2026-1 | UNSCREENED | 2.06% | no in-house ratios for this holding |
| BXMT 2021-FL4 LTD | UNSCREENED | 1.79% | no in-house ratios for this holding |
| LAFAYETE FEDERAL CREDIT UNION ASSET TRUST 2026-HI1 | UNSCREENED | 1.76% | no in-house ratios for this holding |
| MO ALTRIA GROUP INC | NON_COMPLIANT | 1.74% | AAOIFI21.4% Usmani73.6% Dow Jones Islamic25.3% S&P Shariah28.5% MSCI Islamic73.6% MSCI Islamic M-Series28.5% FTSE Shariah73.6% |
| NATIONWIDE FINANCIAL SERVICES INC | UNSCREENED | 1.59% | no in-house ratios for this holding |
| AGNC INVESTMENT CORP | UNSCREENED | 1.52% | no in-house ratios for this holding |
| FARM CREDIT BANK OF TEXAS INC | UNSCREENED | 1.40% | no in-house ratios for this holding |
| NUVEEN FLOATING RATE INCOME FUND | UNSCREENED | 1.40% | no in-house ratios for this holding |
| SUMMIT MIDSTREAM HOLDINGS LLC | UNSCREENED | 1.27% | no in-house ratios for this holding |
| FITB FIFTH THIRD BANCORP | NON_COMPLIANT | 1.26% | AAOIFI45.0% Usmani7.4% Dow Jones Islamic67.1% S&P Shariah76.4% MSCI Islamic7.4% MSCI Islamic M-Series76.4% FTSE Shariah7.4% |
| BAC BANK OF AMERICA CORP | NON_COMPLIANT | 1.24% | AAOIFI77.5% Usmani9.7% Dow Jones Islamic95.9% S&P Shariah105.7% MSCI Islamic9.7% MSCI Islamic M-Series105.7% FTSE Shariah9.7% |
| BMO 2024-5C3 MORTGAGE TRUST | UNSCREENED | 1.23% | no in-house ratios for this holding |
| ACR ACRES COMMERCIAL REALTY CORP | NON_COMPLIANT | 1.23% | AAOIFI933.3% Usmani74.5% Dow Jones Islamic1294.1% S&P Shariah1463.1% MSCI Islamic74.5% MSCI Islamic M-Series1463.1% FTSE Shariah74.5% |
| BANK5 2024-5YR8 | UNSCREENED | 1.22% | no in-house ratios for this holding |
| WFC WELLS FARGO & COMPANY | NON_COMPLIANT | 1.17% | AAOIFI80.2% Usmani9.1% Dow Jones Islamic84.8% S&P Shariah93.9% MSCI Islamic9.1% MSCI Islamic M-Series93.9% FTSE Shariah9.1% |
| BANK 2019-BNK17 | UNSCREENED | 1.12% | no in-house ratios for this holding |
| PACIFICORP | UNSCREENED | 1.12% | no in-house ratios for this holding |
| BBCMS MORTGAGE TRUST 2024-5C27 | UNSCREENED | 1.11% | no in-house ratios for this holding |
| N/A | UNSCREENED | 1.02% | no in-house ratios for this holding |
| CINCINNATI BELL TELEPHONE COMPANY LLC | UNSCREENED | 1.01% | no in-house ratios for this holding |
| SUMISHO AIR LEASE CORP | UNSCREENED | 1.01% | no in-house ratios for this holding |
| ATRIUM HOTEL PORTFOLIO TRUST 2024-ATRM | UNSCREENED | 0.96% | no in-house ratios for this holding |
| FARM CREDIT BANK OF TEXAS INC | UNSCREENED | 0.95% | no in-house ratios for this holding |
| BIG RIVER STEEL LLC | UNSCREENED | 0.94% | no in-house ratios for this holding |
| BXMT 2026-FL6 LTD | UNSCREENED | 0.94% | no in-house ratios for this holding |
| LOANCORE 2021-CRE6 ISSUER LTD | UNSCREENED | 0.94% | no in-house ratios for this holding |
| KREF 2021-FL2 LTD | UNSCREENED | 0.94% | no in-house ratios for this holding |
| SPIRE INC (US) | UNSCREENED | 0.93% | no in-house ratios for this holding |
| BX 2025-BIO3 MORTGAGE TRUST | UNSCREENED | 0.93% | no in-house ratios for this holding |
| NEXTERA ENERGY CAPITAL HOLDINGS INC | UNSCREENED | 0.93% | no in-house ratios for this holding |
| SCHW CHARLES SCHWAB CORP (THE) | NON_COMPLIANT | 0.84% | AAOIFI14.6% Usmani5.3% Dow Jones Islamic18.7% S&P Shariah22.0% MSCI Islamic5.3% MSCI Islamic M-Series22.0% FTSE Shariah5.3% |
| PIMCO DYNAMIC INCOME FUND | UNSCREENED | 0.84% | no in-house ratios for this holding |
| US BANCORP | UNSCREENED | 0.84% | no in-house ratios for this holding |
| GPMT 2021-FL3 LTD | UNSCREENED | 0.84% | no in-house ratios for this holding |
| GPMT 2021-FL4 LTD | UNSCREENED | 0.84% | no in-house ratios for this holding |
| MTB M&T BANK CORP | NON_COMPLIANT | 0.82% | AAOIFI52.5% Usmani8.3% Dow Jones Islamic59.6% S&P Shariah66.0% MSCI Islamic8.3% MSCI Islamic M-Series66.0% FTSE Shariah8.3% |
| HORIZON MUTUAL HOLDINGS INC | UNSCREENED | 0.82% | no in-house ratios for this holding |
| GENWORTH HOLDINGS INC | UNSCREENED | 0.81% | no in-house ratios for this holding |
| ETR ENTERGY CORP | NON_COMPLIANT | 0.78% | AAOIFI65.8% Usmani43.6% Dow Jones Islamic83.2% S&P Shariah99.2% MSCI Islamic43.5% MSCI Islamic M-Series99.2% FTSE Shariah43.1% |
| CRBG COREBRIDGE FINANCIAL INC | NON_COMPLIANT | 0.76% | AAOIFI8.3% Usmani0.3% Dow Jones Islamic8.0% S&P Shariah8.2% MSCI Islamic0.3% MSCI Islamic M-Series8.2% FTSE Shariah0.3% |
| NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY (NY) | UNSCREENED | 0.76% | no in-house ratios for this holding |
| FORTRESS TRANSPORTATION AND INFRASTRUCTURE INVESTORS LLC | UNSCREENED | 0.75% | no in-house ratios for this holding |
| PSX PHILLIPS 66 COMPANY | NON_COMPLIANT | 0.74% | AAOIFI20.2% Usmani25.1% Dow Jones Islamic36.5% S&P Shariah37.1% MSCI Islamic25.1% MSCI Islamic M-Series37.1% FTSE Shariah25.1% |
| ANNALY CAPITAL MANAGEMENT INC | UNSCREENED | 0.74% | no in-house ratios for this holding |
| BENCHMARK 2024-V5 MORTGAGE TRUST | UNSCREENED | 0.73% | no in-house ratios for this holding |
| VMC FINANCE 2021-FL4 LLC | UNSCREENED | 0.71% | no in-house ratios for this holding |
| CHAMP ACQUISITION CORP | UNSCREENED | 0.69% | no in-house ratios for this holding |
| C CITIGROUP INC | NON_COMPLIANT | 0.67% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| STWD 2022-FL3 LTD | UNSCREENED | 0.67% | no in-house ratios for this holding |
| MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST 2025-5C1 | UNSCREENED | 0.67% | no in-house ratios for this holding |
| HBAN HUNTINGTON BANCSHARES INC | NON_COMPLIANT | 0.66% | AAOIFI68.2% Usmani8.2% Dow Jones Islamic90.2% S&P Shariah102.6% MSCI Islamic8.2% MSCI Islamic M-Series102.6% FTSE Shariah8.2% |
| BXMT 2020-FL2 LTD | UNSCREENED | 0.65% | no in-house ratios for this holding |
| AEP AMERICAN ELECTRIC POWER COMPANY INC | NON_COMPLIANT | 0.61% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY (NY) | UNSCREENED | 0.61% | no in-house ratios for this holding |
| ONEOK INC | UNSCREENED | 0.59% | no in-house ratios for this holding |
| CRBG COREBRIDGE FINANCIAL INC | NON_COMPLIANT | 0.59% | AAOIFI8.3% Usmani0.3% Dow Jones Islamic8.0% S&P Shariah8.2% MSCI Islamic0.3% MSCI Islamic M-Series8.2% FTSE Shariah0.3% |
| VERDE PURCHASER LLC | UNSCREENED | 0.58% | no in-house ratios for this holding |
| TALCOTT RESOLUTION LIFE INC | UNSCREENED | 0.57% | no in-house ratios for this holding |
| ET ENERGY TRANSFER LP | NON_COMPLIANT | 0.57% | AAOIFI94.8% Usmani47.4% Dow Jones Islamic120.8% S&P Shariah134.5% MSCI Islamic47.4% MSCI Islamic M-Series134.5% FTSE Shariah46.2% |
| TENNECO LLC | UNSCREENED | 0.57% | no in-house ratios for this holding |
| ES EVERSOURCE ENERGY | NON_COMPLIANT | 0.56% | AAOIFI108.8% Usmani45.9% Dow Jones Islamic122.9% S&P Shariah132.3% MSCI Islamic45.9% MSCI Islamic M-Series132.3% FTSE Shariah45.9% |
| BEAZER HOMES USA INC | UNSCREENED | 0.56% | no in-house ratios for this holding |
| SWK STANLEY BLACK & DECKER INC | NON_COMPLIANT | 0.56% | AAOIFI32.4% Usmani23.7% Dow Jones Islamic39.9% S&P Shariah39.2% MSCI Islamic23.7% MSCI Islamic M-Series39.2% FTSE Shariah23.7% |
| PIMCO CORPORATE & INCOME OPPORTUNITY FUND | UNSCREENED | 0.56% | no in-house ratios for this holding |
| UNIV TRUST 2025-APTS | UNSCREENED | 0.56% | no in-house ratios for this holding |
| AEP AMERICAN ELECTRIC POWER COMPANY INC | NON_COMPLIANT | 0.56% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BMO 2024-5C4 MORTGAGE TRUST | UNSCREENED | 0.55% | no in-house ratios for this holding |
| JBLU JETBLUE AIRWAYS CORP | NON_COMPLIANT | 0.55% | AAOIFI564.6% Usmani60.2% Dow Jones Islamic510.7% S&P Shariah514.8% MSCI Islamic60.2% MSCI Islamic M-Series514.8% FTSE Shariah54.7% |
| ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE CORP | UNSCREENED | 0.52% | no in-house ratios for this holding |
| SMB PRIVATE EDUCATION LOAN TRUST 2014-A | UNSCREENED | 0.51% | no in-house ratios for this holding |
| PHOENIX AVIATION CAPITAL LTD | UNSCREENED | 0.50% | no in-house ratios for this holding |
| TDW TIDEWATER INC | COMPLIANT | 0.50% | AAOIFI13.9% Usmani27.6% Dow Jones Islamic21.4% S&P Shariah18.9% MSCI Islamic27.6% MSCI Islamic M-Series18.9% FTSE Shariah27.6% |
| TOTAL RETURN SECURITIES FUND | UNSCREENED | 0.50% | no in-house ratios for this holding |
| APA APA CORP | NON_COMPLIANT | 0.49% | AAOIFI25.9% Usmani21.6% Dow Jones Islamic42.6% S&P Shariah41.4% MSCI Islamic21.6% MSCI Islamic M-Series41.4% FTSE Shariah20.8% |
| MET METLIFE INC | NON_COMPLIANT | 0.49% | AAOIFI47.5% Usmani3.9% Dow Jones Islamic56.2% S&P Shariah58.5% MSCI Islamic3.9% MSCI Islamic M-Series58.5% FTSE Shariah3.9% |
| SPDR SERIES TRUST | UNSCREENED | 0.49% | no in-house ratios for this holding |
| APTIV PLC / APTIV GLOBAL FINANCING DAC | UNSCREENED | 0.48% | no in-house ratios for this holding |
| ET ENERGY TRANSFER LP | NON_COMPLIANT | 0.47% | AAOIFI94.8% Usmani47.4% Dow Jones Islamic120.8% S&P Shariah134.5% MSCI Islamic47.4% MSCI Islamic M-Series134.5% FTSE Shariah46.2% |
| ENSTAR FINANCE LLC | UNSCREENED | 0.47% | no in-house ratios for this holding |
| SAMMONS FINANCIAL GROUP INC | UNSCREENED | 0.45% | no in-house ratios for this holding |
| JETBLUE AIRWAYS PASS THROUGH TRUST SERIES 2019-1 | UNSCREENED | 0.44% | no in-house ratios for this holding |
| PRGO PERRIGO COMPANY PLC | NON_COMPLIANT | 0.42% | AAOIFI167.1% Usmani45.6% Dow Jones Islamic136.7% S&P Shariah120.3% MSCI Islamic45.5% MSCI Islamic M-Series120.3% FTSE Shariah43.3% |
| BAUSCH + LOMB CORP | UNSCREENED | 0.42% | no in-house ratios for this holding |
| GDOT GREEN DOT CORP | NON_COMPLIANT | 0.41% | AAOIFI0.2% Usmani0.0% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic0.0% MSCI Islamic M-Series0.3% FTSE Shariah0.0% |
| ENVA ENOVA INTERNATIONAL INC | NON_COMPLIANT | 0.40% | AAOIFI87.3% Usmani69.4% Dow Jones Islamic150.4% S&P Shariah180.7% MSCI Islamic69.4% MSCI Islamic M-Series180.7% FTSE Shariah69.4% |
| ALA.TO ALTAGAS LTD | NON_COMPLIANT | 0.39% | AAOIFI65.9% Usmani41.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic39.4% MSCI Islamic M-Seriesfail FTSE Shariah39.4% |
| AEP AMERICAN ELECTRIC POWER COMPANY INC | NON_COMPLIANT | 0.39% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Government National Mortgage Association | NON_COMPLIANT | 0.39% | no in-house ratios for this holding |
| WFC WELLS FARGO & COMPANY | NON_COMPLIANT | 0.39% | AAOIFI80.2% Usmani9.1% Dow Jones Islamic84.8% S&P Shariah93.9% MSCI Islamic9.1% MSCI Islamic M-Series93.9% FTSE Shariah9.1% |
| BNS.TO BANK OF NOVA SCOTIA (THE) | NON_COMPLIANT | 0.39% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NUSTAR LOGISTICS LP | UNSCREENED | 0.39% | no in-house ratios for this holding |
| C CITIGROUP INC | NON_COMPLIANT | 0.38% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| FG F&G ANNUITIES & LIFE INC | NON_COMPLIANT | 0.38% | AAOIFI68.3% Usmani2.2% Dow Jones Islamic52.6% S&P Shariah51.3% MSCI Islamic2.2% MSCI Islamic M-Series51.3% FTSE Shariah2.2% |
| C CITIGROUP INC | NON_COMPLIANT | 0.38% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| C CITIGROUP INC | NON_COMPLIANT | 0.38% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| DLX DELUXE CORP | NON_COMPLIANT | 0.38% | AAOIFI125.5% Usmani57.5% Dow Jones Islamic155.1% S&P Shariah163.4% MSCI Islamic54.6% MSCI Islamic M-Series163.4% FTSE Shariah52.8% |
| TFC TRUIST FINANCIAL CORP | NON_COMPLIANT | 0.37% | AAOIFI110.7% Usmani12.6% Dow Jones Islamic124.2% S&P Shariah135.1% MSCI Islamic12.6% MSCI Islamic M-Series135.1% FTSE Shariah12.6% |
| COF CAPITAL ONE FINANCIAL CORP | NON_COMPLIANT | 0.37% | AAOIFI38.5% Usmani7.6% Dow Jones Islamic49.3% S&P Shariah60.5% MSCI Islamic7.6% MSCI Islamic M-Series60.5% FTSE Shariah7.6% |
| CASCADES INC / CASCADES USA INC | UNSCREENED | 0.37% | no in-house ratios for this holding |
| BX TRUST 2018-BILT | UNSCREENED | 0.37% | no in-house ratios for this holding |
| BLACKSTONE SENIOR FLOATING RATE 2027 TERM FUND | UNSCREENED | 0.37% | no in-house ratios for this holding |
| EATON VANCE MUNICIPAL INCOME TRUST | UNSCREENED | 0.37% | no in-house ratios for this holding |
| HUNTSMAN INTERNATIONAL LLC | UNSCREENED | 0.36% | no in-house ratios for this holding |
| MATTAMY GROUP CORP | UNSCREENED | 0.36% | no in-house ratios for this holding |
| CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP | UNSCREENED | 0.36% | no in-house ratios for this holding |
| INVESCO SENIOR INCOME TRUST | UNSCREENED | 0.35% | no in-house ratios for this holding |
| LAFAYETE FEDERAL CREDIT UNION ASSET TRUST 2026-HI1 | UNSCREENED | 0.35% | no in-house ratios for this holding |
| NEXTERA ENERGY CAPITAL HOLDINGS INC | UNSCREENED | 0.35% | no in-house ratios for this holding |
| JETBLUE AIRWAYS CORP / JETBLUE LOYALTY LP | UNSCREENED | 0.34% | no in-house ratios for this holding |
| ONITY LOAN INVESTMENT TRUST 2025-HB1 | UNSCREENED | 0.33% | no in-house ratios for this holding |
| EATON VANCE SENIOR FLOATING RATE TRUST | UNSCREENED | 0.33% | no in-house ratios for this holding |
| APA APA CORP | NON_COMPLIANT | 0.32% | AAOIFI25.9% Usmani21.6% Dow Jones Islamic42.6% S&P Shariah41.4% MSCI Islamic21.6% MSCI Islamic M-Series41.4% FTSE Shariah20.8% |
| ENTERPRISE PRODUCTS OPERATING LLC | UNSCREENED | 0.32% | no in-house ratios for this holding |
| APA APA CORP | NON_COMPLIANT | 0.31% | AAOIFI25.9% Usmani21.6% Dow Jones Islamic42.6% S&P Shariah41.4% MSCI Islamic21.6% MSCI Islamic M-Series41.4% FTSE Shariah20.8% |
| EATON VANCE SENIOR INCOME TRUST | UNSCREENED | 0.31% | no in-house ratios for this holding |
| ANNALY CAPITAL MANAGEMENT INC | UNSCREENED | 0.30% | no in-house ratios for this holding |
| AVIANCA MIDCO 2 PLC | UNSCREENED | 0.30% | no in-house ratios for this holding |
| EMBC EMBECTA CORP | NON_COMPLIANT | 0.29% | AAOIFI467.7% Usmani118.7% Dow Jones Islamic228.0% S&P Shariah214.9% MSCI Islamic116.2% MSCI Islamic M-Series214.9% FTSE Shariah115.0% |
| COF CAPITAL ONE FINANCIAL CORP | NON_COMPLIANT | 0.29% | AAOIFI38.5% Usmani7.6% Dow Jones Islamic49.3% S&P Shariah60.5% MSCI Islamic7.6% MSCI Islamic M-Series60.5% FTSE Shariah7.6% |
| BLACKROCK GLOBAL FLOATING RATE INCOME TRUST | UNSCREENED | 0.28% | no in-house ratios for this holding |
| D DOMINION ENERGY INC | NON_COMPLIANT | 0.28% | AAOIFI86.6% Usmani42.8% Dow Jones Islamic102.1% S&P Shariah112.1% MSCI Islamic42.3% MSCI Islamic M-Series112.1% FTSE Shariah41.7% |
| GENERAL MOTORS FINANCIAL COMPANY INC | UNSCREENED | 0.28% | no in-house ratios for this holding |
| NUVEEN CREDIT STRATEGIES INCOME FUND | UNSCREENED | 0.28% | no in-house ratios for this holding |
| VISTRA OPERATIONS COMPANY LLC | UNSCREENED | 0.27% | no in-house ratios for this holding |
| ARETEC ESCROW ISSUER 2 INC | UNSCREENED | 0.27% | no in-house ratios for this holding |
| MINERAL RESOURCES LTD | UNSCREENED | 0.26% | no in-house ratios for this holding |
| SJM J.M. SMUCKER COMPANY (THE) | NON_COMPLIANT | 0.25% | AAOIFI48.0% Usmani41.6% Dow Jones Islamic60.6% S&P Shariah60.2% MSCI Islamic41.6% MSCI Islamic M-Series60.2% FTSE Shariah40.4% |
| SAR SARATOGA INVESTMENT CORP | NON_COMPLIANT | 0.24% | AAOIFI278.5% Usmani68.3% Dow Jones Islamic261.3% S&P Shariah288.1% MSCI Islamic68.3% MSCI Islamic M-Series288.1% FTSE Shariah68.3% |
| ARES DYNAMIC CREDIT ALLOCATION FUND INC | UNSCREENED | 0.23% | no in-house ratios for this holding |
| Finance Of America Structured Securities Tr 2017-HB1 | UNSCREENED | 0.22% | no in-house ratios for this holding |
| DLR DIGITAL REALTY TRUST INC | COMPLIANT | 0.21% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| ENB.TO ENBRIDGE INC | NON_COMPLIANT | 0.20% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| DISH NETWORK CORP | UNSCREENED | 0.19% | no in-house ratios for this holding |
| CCAP CRESCENT CAPITAL BDC INC | NON_COMPLIANT | 0.19% | AAOIFI248.3% Usmani57.0% Dow Jones Islamic189.0% S&P Shariah189.7% MSCI Islamic57.0% MSCI Islamic M-Series189.7% FTSE Shariah57.0% |
| Government National Mortgage Association | NON_COMPLIANT | 0.18% | no in-house ratios for this holding |
| SPDR SERIES TRUST | UNSCREENED | 0.18% | no in-house ratios for this holding |
| ALL ALLSTATE CORP (THE) | NON_COMPLIANT | 0.17% | AAOIFI11.4% Usmani6.0% Dow Jones Islamic14.1% S&P Shariah15.6% MSCI Islamic6.0% MSCI Islamic M-Series15.6% FTSE Shariah6.0% |
| CALIFORNIA FIRST LEASING CORP | UNSCREENED | 0.14% | no in-house ratios for this holding |
| GENWORTH HOLDINGS INC | UNSCREENED | 0.13% | no in-house ratios for this holding |
| BLACKSTONE STRATEGIC CREDIT 2027 TERM FUND | UNSCREENED | 0.13% | no in-house ratios for this holding |
| RIVERNORTH CAPITAL & INCOME FUND INC | UNSCREENED | 0.12% | no in-house ratios for this holding |
| T AT&T INC | NON_COMPLIANT | 0.10% | AAOIFI92.9% Usmani38.0% Dow Jones Islamic94.4% S&P Shariah107.8% MSCI Islamic38.0% MSCI Islamic M-Series107.8% FTSE Shariah33.6% |
| CVS CVS HEALTH CORP | NON_COMPLIANT | 0.10% | AAOIFI61.7% Usmani30.1% Dow Jones Islamic84.9% S&P Shariah88.7% MSCI Islamic30.1% MSCI Islamic M-Series88.7% FTSE Shariah24.2% |
| FITB FIFTH THIRD BANCORP | NON_COMPLIANT | 0.09% | AAOIFI45.0% Usmani7.4% Dow Jones Islamic67.1% S&P Shariah76.4% MSCI Islamic7.4% MSCI Islamic M-Series76.4% FTSE Shariah7.4% |
| VZ VERIZON COMMUNICATIONS INC | NON_COMPLIANT | 0.08% | AAOIFI98.4% Usmani45.9% Dow Jones Islamic109.0% S&P Shariah116.8% MSCI Islamic45.9% MSCI Islamic M-Series116.8% FTSE Shariah40.3% |
| COBANK ACB | UNSCREENED | 0.07% | no in-house ratios for this holding |
| CVNA CARVANA COMPANY | COMPLIANT | 0.05% | AAOIFI6.8% Usmani38.2% Dow Jones Islamic8.2% S&P Shariah10.9% MSCI Islamic38.2% MSCI Islamic M-Series10.9% FTSE Shariah35.5% |
| N/A | UNSCREENED | 0.02% | no in-house ratios for this holding |
| INVESCO EXCHANGE-TRADED FUND TRUST II | UNSCREENED | 0.01% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.00% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 2 points of portfolio weight — 4.2% of it passes AAOIFI, 2.3% passes Dow Jones 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 4.2% ratios fail on 24.4% 75.9% not rated under AAOIFI
ratios pass on 3.4% ratios fail on 15.4% 85.6% not rated under Usmani
ratios pass on 2.3% ratios fail on 26.2% 75.9% not rated under Dow Jones Islamic
ratios pass on 2.3% ratios fail on 26.2% 75.9% not rated under S&P Shariah
ratios pass on 3.4% ratios fail on 15.4% 85.6% not rated under MSCI Islamic
ratios pass on 2.3% ratios fail on 26.2% 75.9% not rated under MSCI Islamic M-Series
ratios pass on 3.4% ratios fail on 15.4% 85.6% not rated under FTSE Shariah
42 of 157 listed holdings carry our own per-methodology verdicts (29% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 39 (27% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| PNC PNC FINANCIAL SERVICES GROUP INC (THE) | 2.24% |
| MO ALTRIA GROUP INC | 1.74% |
| FITB FIFTH THIRD BANCORP | 1.26% |
| BAC BANK OF AMERICA CORP | 1.24% |
| ACR ACRES COMMERCIAL REALTY CORP | 1.23% |
| WFC WELLS FARGO & COMPANY | 1.17% |
| SCHW CHARLES SCHWAB CORP (THE) | 0.84% |
| MTB M&T BANK CORP | 0.82% |
| ETR ENTERGY CORP | 0.78% |
| CRBG COREBRIDGE FINANCIAL INC | 0.76% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
ICON FLEXIBLE BOND FUND (IOBZX) 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 |
|---|---|---|
| N/Anot matched to a ticker | 4.16% | Not screened |
| FIDELITY COLCHESTER STREET TRUSTnot matched to a ticker | 3.27% | Not screened |
| UMH PROPERTIES INCnot matched to a ticker | 2.45% | Not screened |
| STWD 2021-FL2 LTDnot matched to a ticker | 2.38% | Not screened |
| PNCPNC FINANCIAL SERVICES GROUP INC (THE) | 2.24% | Non-compliant |
| JP MORGAN CHASE & COMPANYnot matched to a ticker | 2.17% | Not screened |
| CRESCENT BK AUTO TR 2026-1not matched to a ticker | 2.06% | Not screened |
| BXMT 2021-FL4 LTDnot matched to a ticker | 1.79% | Not screened |
| LAFAYETE FEDERAL CREDIT UNION ASSET TRUST 2026-HI1not matched to a ticker | 1.76% | Not screened |
| MOALTRIA GROUP INC | 1.74% | Non-compliant |
Top 10 of 157 holdings, 24.0% 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 IOBZX. 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) | 38.30 | NEUTRAL |
| Stochastic %K (14) | 33.33 | NEUTRAL |
| CCI (20) | -73.73 | NEUTRAL |
| Williams %R (14) | -66.67 | NEUTRAL |
| MACD (12,26,9) | 0.00 | BUY |
| ROC (10) | -0.12 | SELL |
| Momentum (10) | -0.01 | SELL |
| EMA (10) | 8.30 | SELL |
| SMA (10) | 8.30 | SELL |
| EMA (20) | 8.31 | SELL |
| SMA (20) | 8.30 | SELL |
| EMA (30) | 8.32 | SELL |
| SMA (30) | 8.33 | SELL |
| EMA (50) | 8.34 | SELL |
| SMA (50) | 8.36 | SELL |
| EMA (100) | 8.34 | SELL |
| SMA (100) | 8.36 | SELL |
| EMA (200) | 8.29 | BUY |
| SMA (200) | 8.30 | 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.