Verdicts genuinely change. Free email alert the moment JPAN'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.
Matthews Japan Active ETF ETF · Matthews International Funds
52 holdings · as of 2026-06-30 (3.5 months ago) The fund may have traded since. SEC Form N-PORT is filed quarterly and lags the period it covers, so these are the most recent holdings on file, not the fund’s holdings today.
NON-COMPLIANT 33.62% of portfolio weight is in non-compliant holdings, over the 5% threshold.
52 holdings, 49 matched (96% of weight). Portfolio as of 2026-06-30, filed 2026-08-24. Source: SEC Form N-PORT.
1.80% of this portfolio’s income is non-permissible — weighted across holdings, computed over 83% of portfolio weight (44 of 52 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.
61.7% compliant 0.0% questionable 33.6% non-compliant 4.3% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| 8035.T TOKYO ELECTRON LTD | COMPLIANT | 6.17% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 8306.T MITSUBISHI UFJ FINANCIAL GROUP INC | NON_COMPLIANT | 4.66% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 6857.T ADVANTEST CORP | COMPLIANT | 3.78% | AAOIFIpass Usmani— Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 6098.T RECRUIT HOLDINGS CO LTD | COMPLIANT | 3.35% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 8316.T SUMITOMO MITSUI FINANCIAL GROUP INC | NON_COMPLIANT | 3.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 6758.T SONY GROUP CORP | COMPLIANT | 3.03% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 6501.T HITACHI LTD | COMPLIANT | 2.97% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 4063.T SHIN-ETSU CHEMICAL COMPANY LTD | COMPLIANT | 2.89% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 6752.T PANASONIC HOLDINGS CORP | COMPLIANT | 2.85% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 285A.T KIOXIA HOLDINGS CORP | COMPLIANT | 2.76% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| FRCOY FAST RETAILING COMPANY LTD | COMPLIANT | 2.55% | AAOIFI2.5% Usmani26.6% Dow Jones Islamic29.5% S&P Shariah32.8% MSCI Islamic13.3% MSCI Islamic M-Series32.8% FTSE Shariah13.3% |
| 5802.T SUMITOMO ELECTRIC INDUSTRIES LTD | COMPLIANT | 2.50% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 8591.T ORIX CORP | NON_COMPLIANT | 2.50% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 6861.T KEYENCE CORP | COMPLIANT | 2.50% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 8053.T SUMITOMO CORP | NON_COMPLIANT | 2.11% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 7936.T ASICS CORP | COMPLIANT | 2.10% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 9962.T MISUMI GROUP INC | COMPLIANT | 2.07% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 8766.T TOKIO MARINE HOLDINGS INC | NON_COMPLIANT | 2.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 7182.T JAPAN POST BANK CO LTD | NON_COMPLIANT | 2.02% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 6503.T MITSUBISHI ELECTRIC CORP | COMPLIANT | 1.95% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| AJINOMOTO (JAPAN) COMPANY INC | UNSCREENED | 1.95% | no in-house ratios for this holding |
| 8015.T TOYOTA TSUSHO CORP | COMPLIANT | 1.95% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 6723.T RENESAS ELECTRONICS CORP | COMPLIANT | 1.92% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 4004.T RESONAC HOLDINGS CORP | NON_COMPLIANT | 1.85% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 7012.T KAWASAKI HEAVY INDUSTRIES LTD | COMPLIANT | 1.84% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 8604.T NOMURA HOLDINGS INC | NON_COMPLIANT | 1.77% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 6754.T ANRITSU CORP | COMPLIANT | 1.76% | AAOIFI0.9% Usmani2.1% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic2.1% MSCI Islamic M-Seriespass FTSE Shariah2.1% |
| 6481.T THK CO LTD | COMPLIANT | 1.71% | AAOIFI18.0% Usmani26.0% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic26.0% MSCI Islamic M-Seriespass FTSE Shariah26.0% |
| 6701.T NEC CORP | COMPLIANT | 1.62% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| JP MORGAN US GOVT CAPITAL | UNSCREENED | 1.61% | no in-house ratios for this holding |
| 8725.T MS & AD INSURANCE GROUP HOLDINGS INC | NON_COMPLIANT | 1.59% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 7453.T RYOHIN KEIKAKU COMPANY LTD | COMPLIANT | 1.46% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 9020.T EAST JAPAN RAILWAY COMPANY | NON_COMPLIANT | 1.34% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 5101.T YOKOHAMA RUBBER CO LTD (THE) | NON_COMPLIANT | 1.34% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 6504.T FUJI ELECTRIC COMPANY LTD | COMPLIANT | 1.33% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 8002.T MARUBENI CORP | NON_COMPLIANT | 1.33% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 9984.T SOFTBANK GROUP CORP | NON_COMPLIANT | 1.32% | AAOIFI78.8% Usmani43.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic42.2% MSCI Islamic M-Seriesfail FTSE Shariah42.2% |
| 8802.T MITSUBISHI ESTATE CO LTD | NON_COMPLIANT | 1.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 7202.T ISUZU MOTORS LTD | NON_COMPLIANT | 1.24% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 4452.T KAO CORP | COMPLIANT | 1.23% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 9766.T KONAMI GROUP CORP | COMPLIANT | 1.20% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 1944.T KINDEN CORP | COMPLIANT | 1.13% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 4507.T SHIONOGI & CO. LTD | NON_COMPLIANT | 1.12% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 8830.T SUMITOMO REALTY & DEVELOPMENT CO LTD | NON_COMPLIANT | 0.99% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 6674.T GS YUASA CORP | COMPLIANT | 0.88% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 7203.T TOYOTA MOTOR CORP | NON_COMPLIANT | 0.81% | AAOIFI117.9% Usmani41.6% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic40.9% MSCI Islamic M-Seriesfail FTSE Shariah40.9% |
| 581A.T GO INC | COMPLIANT | 0.80% | AAOIFI1.2% Usmani12.8% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic6.4% MSCI Islamic M-Seriespass FTSE Shariah6.4% |
| 4536.T SANTEN PHARMACEUTICAL COMPANY LTD | COMPLIANT | 0.79% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| NS GROUP INC | UNSCREENED | 0.76% | no in-house ratios for this holding |
| 7972.T ITOKI CORP | COMPLIANT | 0.65% | AAOIFI28.1% Usmani27.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic26.5% MSCI Islamic M-Seriesfail FTSE Shariah26.5% |
| 1605.T INPEX CORP | NON_COMPLIANT | 0.60% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 9435.T HIKARI TSUSHIN INC | NON_COMPLIANT | 0.44% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
The published standards disagree about this fund by 39 points of portfolio weight — 61.7% of it passes AAOIFI, 22.9% 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 61.7% ratios fail on 33.6% 4.3% not rated under AAOIFI
ratios pass on 52.1% ratios fail on 39.5% 8.1% not rated under Usmani
ratios pass on 51.0% ratios fail on 44.3% 4.3% not rated under Dow Jones Islamic
ratios pass on 51.0% ratios fail on 44.3% 4.3% not rated under S&P Shariah
ratios pass on 22.9% ratios fail on 72.5% 4.3% not rated under MSCI Islamic
ratios pass on 49.9% ratios fail on 45.5% 4.3% not rated under MSCI Islamic M-Series
ratios pass on 52.5% ratios fail on 42.9% 4.3% not rated under FTSE Shariah
49 of 52 listed holdings carry our own per-methodology verdicts (95% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 7 (10% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| 8306.T MITSUBISHI UFJ FINANCIAL GROUP INC | 4.66% |
| 8316.T SUMITOMO MITSUI FINANCIAL GROUP INC | 3.28% |
| 8591.T ORIX CORP | 2.50% |
| 8053.T SUMITOMO CORP | 2.11% |
| 8766.T TOKIO MARINE HOLDINGS INC | 2.04% |
| 7182.T JAPAN POST BANK CO LTD | 2.02% |
| 4004.T RESONAC HOLDINGS CORP | 1.85% |
| 8604.T NOMURA HOLDINGS INC | 1.77% |
| 8725.T MS & AD INSURANCE GROUP HOLDINGS INC | 1.59% |
| 9020.T EAST JAPAN RAILWAY COMPANY | 1.34% |
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.
Matthews Japan Active ETF (JPAN) 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 JPAN — 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
Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.
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) | 46.30 | NEUTRAL |
| Stochastic %K (14) | 22.96 | NEUTRAL |
| CCI (20) | -48.27 | NEUTRAL |
| Williams %R (14) | -77.04 | NEUTRAL |
| MACD (12,26,9) | -0.07 | SELL |
| ROC (10) | -0.38 | SELL |
| Momentum (10) | -0.16 | SELL |
| EMA (10) | 43.24 | SELL |
| SMA (10) | 43.53 | SELL |
| EMA (20) | 43.19 | SELL |
| SMA (20) | 43.16 | SELL |
| EMA (30) | 43.10 | SELL |
| SMA (30) | 43.08 | SELL |
| EMA (50) | 42.88 | SELL |
| SMA (50) | 43.07 | SELL |
| EMA (100) | 42.15 | BUY |
| SMA (100) | 42.44 | BUY |
| EMA (200) | 40.39 | BUY |
| SMA (200) | 40.53 | BUY |
Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in the common and preferred stocks of companies located in Japan.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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 | BEARISH | 42 |
| ⏱ 15-Min | BULLISH | 15 |
| ⏲ 5-Min | BEARISH | 47 |
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.