Verdicts genuinely change. Free email alert the moment IRSRX'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 Real Estate Securities Fund · IVY FUNDS
37 holdings
NON-COMPLIANT 44.89% of portfolio weight is in non-compliant holdings, over the 5% threshold.
37 holdings, 26 matched (82% of weight). Portfolio as of 2026-06-30, filed 2026-08-26. Source: SEC Form N-PORT.
1.06% of this portfolio’s income is non-permissible — weighted across holdings, computed over 72% of portfolio weight (23 of 37 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.
36.4% compliant 0.0% questionable 44.9% non-compliant 18.4% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| WELL WELLTOWER INC | COMPLIANT | 12.33% | AAOIFI10.6% Usmani26.7% Dow Jones Islamic15.6% S&P Shariah19.1% MSCI Islamic26.7% MSCI Islamic M-Series19.1% FTSE Shariah26.7% |
| EQIX EQUINIX INC | COMPLIANT | 11.05% | AAOIFI20.7% Usmani57.3% Dow Jones Islamic24.8% S&P Shariah26.3% MSCI Islamic51.7% MSCI Islamic M-Series26.3% FTSE Shariah48.4% |
| SPG SIMON PROPERTY GROUP INC | NON_COMPLIANT | 4.79% | AAOIFI42.4% Usmani72.3% Dow Jones Islamic57.5% S&P Shariah63.8% MSCI Islamic72.3% MSCI Islamic M-Series63.8% FTSE Shariah72.3% |
| VTR VENTAS INC | COMPLIANT | 4.60% | AAOIFI28.0% Usmani42.8% Dow Jones Islamic38.5% S&P Shariah45.5% MSCI Islamic42.8% MSCI Islamic M-Series45.5% FTSE Shariah42.8% |
| PSA PUBLIC STORAGE | NON_COMPLIANT | 4.37% | AAOIFI18.1% Usmani50.6% Dow Jones Islamic19.9% S&P Shariah20.7% MSCI Islamic50.6% MSCI Islamic M-Series20.7% FTSE Shariah50.6% |
| IRON MOUNTAIN INC (REIT) | UNSCREENED | 4.37% | no in-house ratios for this holding |
| PLD PROLOGIS INC | COMPLIANT | 4.23% | AAOIFI25.8% Usmani35.3% Dow Jones Islamic31.2% S&P Shariah32.1% MSCI Islamic35.3% MSCI Islamic M-Series32.1% FTSE Shariah35.3% |
| AHR AMERICAN HEALTHCARE REIT INC | COMPLIANT | 4.16% | AAOIFI14.3% Usmani33.6% Dow Jones Islamic22.1% S&P Shariah25.8% MSCI Islamic31.1% MSCI Islamic M-Series25.8% FTSE Shariah31.1% |
| AGREE REALTY CORP | UNSCREENED | 4.12% | no in-house ratios for this holding |
| FIRST INDUSTRIAL REALTY TRUST INC | UNSCREENED | 4.06% | no in-house ratios for this holding |
| AVB AVALONBAY COMMUNITIES INC | NON_COMPLIANT | 3.61% | AAOIFIfail Usmanifail Dow Jones Islamic— S&P Shariah— MSCI Islamicfail MSCI Islamic M-Series— FTSE Shariahfail |
| VICI VICI PROPERTIES INC | NON_COMPLIANT | 3.29% | AAOIFI57.8% Usmani35.1% Dow Jones Islamic55.7% S&P Shariah58.1% MSCI Islamic35.1% MSCI Islamic M-Series58.1% FTSE Shariah35.1% |
| INVH INVITATION HOMES INC | NON_COMPLIANT | 3.05% | AAOIFI52.4% Usmani46.2% Dow Jones Islamic47.8% S&P Shariah46.8% MSCI Islamic46.2% MSCI Islamic M-Series46.8% FTSE Shariah46.2% |
| NTST NETSTREIT CORP | NON_COMPLIANT | 2.94% | AAOIFI68.1% Usmani46.0% Dow Jones Islamic94.2% S&P Shariah104.2% MSCI Islamic46.0% MSCI Islamic M-Series104.2% FTSE Shariah46.0% |
| MAC MACERICH COMPANY (THE) | NON_COMPLIANT | 2.59% | AAOIFI73.6% Usmani56.9% Dow Jones Islamic104.4% S&P Shariah119.9% MSCI Islamic56.9% MSCI Islamic M-Series119.9% FTSE Shariah56.9% |
| REXR REXFORD INDUSTRIAL REALTY INC | NON_COMPLIANT | 2.55% | AAOIFI39.8% Usmani28.1% Dow Jones Islamic38.3% S&P Shariah36.9% MSCI Islamic28.1% MSCI Islamic M-Series36.9% FTSE Shariah28.1% |
| ESS ESSEX PROPERTY TRUST INC | NON_COMPLIANT | 2.54% | AAOIFI35.7% Usmani49.5% Dow Jones Islamic37.2% S&P Shariah39.3% MSCI Islamic49.5% MSCI Islamic M-Series39.3% FTSE Shariah49.5% |
| KILROY REALTY CORP | UNSCREENED | 2.05% | no in-house ratios for this holding |
| IVT INVENTRUST PROPERTIES CORP | NON_COMPLIANT | 1.79% | AAOIFI43.0% Usmani36.1% Dow Jones Islamic48.9% S&P Shariah54.2% MSCI Islamic36.1% MSCI Islamic M-Series54.2% FTSE Shariah36.1% |
| DOC HEALTHPEAK PROPERTIES INC | NON_COMPLIANT | 1.78% | AAOIFI67.5% Usmani46.3% Dow Jones Islamic80.6% S&P Shariah86.7% MSCI Islamic46.3% MSCI Islamic M-Series86.7% FTSE Shariah46.3% |
| RYMAN HOSPITALITY PROPERTIES INC | UNSCREENED | 1.61% | no in-house ratios for this holding |
| AMT AMERICAN TOWER CORP | NON_COMPLIANT | 1.57% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| O REALTY INCOME CORP | NON_COMPLIANT | 1.37% | AAOIFI3.5% Usmani2.6% Dow Jones Islamic4.0% S&P Shariah4.3% MSCI Islamic2.6% MSCI Islamic M-Series4.3% FTSE Shariah2.6% |
| EXR EXTRA SPACE STORAGE INC | NON_COMPLIANT | 1.33% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| FRT FEDERAL REALTY INVESTMENT TRUST | NON_COMPLIANT | 1.29% | AAOIFI48.5% Usmani54.6% Dow Jones Islamic56.8% S&P Shariah59.6% MSCI Islamic54.6% MSCI Islamic M-Series59.6% FTSE Shariah54.6% |
| GMG.AX GOODMAN GROUP | NON_COMPLIANT | 1.28% | AAOIFI10.2% Usmani18.4% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic18.2% MSCI Islamic M-Seriesfail FTSE Shariah18.2% |
| WH WYNDHAM HOTELS & RESORTS INC | NON_COMPLIANT | 1.23% | AAOIFI47.4% Usmani61.7% Dow Jones Islamic42.2% S&P Shariah43.4% MSCI Islamic61.7% MSCI Islamic M-Series43.4% FTSE Shariah61.7% |
| NXT.AX NEXTDC LTD | NON_COMPLIANT | 1.17% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| LXP LXP INDUSTRIAL TRUST | NON_COMPLIANT | 1.16% | AAOIFI38.0% Usmani39.4% Dow Jones Islamic51.3% S&P Shariah53.6% MSCI Islamic39.4% MSCI Islamic M-Series53.6% FTSE Shariah39.4% |
| NNN REIT INC | UNSCREENED | 1.14% | no in-house ratios for this holding |
| HLTC NATIONAL HEALTHCARE PROPERTIES INC | NON_COMPLIANT | 0.95% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariahfail MSCI Islamic0.0% MSCI Islamic M-Seriesfail FTSE Shariah0.0% |
| BLACKSTONE DIGITAL INFRASTRUCTURE TRUST INC | UNSCREENED | 0.53% | no in-house ratios for this holding |
| PMZ-UN.TO PRIMARIS REAL ESTATE INVESTMENT TRUST | NON_COMPLIANT | 0.26% | AAOIFI76.3% Usmani41.4% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic41.4% MSCI Islamic M-Seriesfail FTSE Shariah41.4% |
| BLACKROCK LIQUIDITY FUNDS | UNSCREENED | 0.14% | no in-house ratios for this holding |
| GOLDMAN SACHS TRUST | UNSCREENED | 0.14% | no in-house ratios for this holding |
| MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS | UNSCREENED | 0.14% | no in-house ratios for this holding |
| FIDELITY COLCHESTER STREET TRUST | UNSCREENED | 0.14% | no in-house ratios for this holding |
The published standards disagree about this fund by 37 points of portfolio weight — 36.6% of it passes AAOIFI, 0.0% 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 36.6% ratios fail on 36.3% 26.9% not rated under AAOIFI
ratios pass on 0.0% ratios fail on 61.2% 38.5% not rated under Usmani
ratios pass on 32.0% ratios fail on 37.3% 30.5% not rated under Dow Jones Islamic
ratios pass on 32.0% ratios fail on 37.3% 30.5% not rated under S&P Shariah
ratios pass on 14.9% ratios fail on 57.0% 27.8% not rated under MSCI Islamic
ratios pass on 32.0% ratios fail on 37.3% 30.5% not rated under MSCI Islamic M-Series
ratios pass on 14.9% ratios fail on 57.0% 27.8% not rated under FTSE Shariah
26 of 37 listed holdings carry our own per-methodology verdicts (81% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 23 (75% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| SPG SIMON PROPERTY GROUP INC | 4.79% |
| PSA PUBLIC STORAGE | 4.37% |
| AVB AVALONBAY COMMUNITIES INC | 3.61% |
| VICI VICI PROPERTIES INC | 3.29% |
| INVH INVITATION HOMES INC | 3.05% |
| NTST NETSTREIT CORP | 2.94% |
| MAC MACERICH COMPANY (THE) | 2.59% |
| REXR REXFORD INDUSTRIAL REALTY INC | 2.55% |
| ESS ESSEX PROPERTY TRUST INC | 2.54% |
| IVT INVENTRUST PROPERTIES CORP | 1.79% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Nomura Real Estate Securities Fund (IRSRX) 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 |
|---|---|---|
| WELLWELLTOWER INC | 12.33% | Compliant |
| EQIXEQUINIX INC | 11.05% | Compliant |
| SPGSIMON PROPERTY GROUP INC | 4.79% | Non-compliant |
| VTRVENTAS INC | 4.60% | Compliant |
| PSAPUBLIC STORAGE | 4.37% | Non-compliant |
| IRON MOUNTAIN INC (REIT)not matched to a ticker | 4.37% | Not screened |
| PLDPROLOGIS INC | 4.23% | Compliant |
| AHRAMERICAN HEALTHCARE REIT INC | 4.16% | Compliant |
| AGREE REALTY CORPnot matched to a ticker | 4.12% | Not screened |
| FIRST INDUSTRIAL REALTY TRUST INCnot matched to a ticker | 4.06% | Not screened |
Top 10 of 37 holdings, 58.1% 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 IRSRX. 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) | 40.10 | NEUTRAL |
| Stochastic %K (14) | 38.18 | NEUTRAL |
| CCI (20) | -53.42 | NEUTRAL |
| Williams %R (14) | -61.82 | NEUTRAL |
| MACD (12,26,9) | 0.00 | BUY |
| ROC (10) | -1.08 | SELL |
| Momentum (10) | -0.15 | SELL |
| EMA (10) | 13.78 | BUY |
| SMA (10) | 13.76 | BUY |
| EMA (20) | 13.93 | SELL |
| SMA (20) | 13.92 | SELL |
| EMA (30) | 14.06 | SELL |
| SMA (30) | 14.10 | SELL |
| EMA (50) | 14.23 | SELL |
| SMA (50) | 14.39 | SELL |
| EMA (100) | 14.26 | SELL |
| SMA (100) | 14.51 | SELL |
| EMA (200) | 13.80 | SELL |
| SMA (200) | 13.93 | 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.