Verdicts genuinely change. Free email alert the moment KLXY'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.
KraneShares Global Luxury Index ETF · Krane Shares Trust
23 holdings
NON-COMPLIANT 18.85% of portfolio weight is in non-compliant holdings, over the 5% threshold.
23 holdings, 19 matched (80% of weight). Portfolio as of 2025-12-31, filed 2026-02-27. Source: SEC Form N-PORT.
0.43% of this portfolio’s income is non-permissible — weighted across holdings, computed over 80% of portfolio weight (19 of 23 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.
59.5% compliant 0.0% questionable 18.8% non-compliant 19.9% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| MC.PA LVMH MOET HENNESSY LOUIS VUITTON SE | COMPLIANT | 10.34% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| COMPAGNIE FINANCIERE RICHEMONT SA | UNSCREENED | 9.59% | no in-house ratios for this holding |
| OR.PA L'OREAL SA | COMPLIANT | 7.95% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| HERMES INTERNATIONAL S.C.A. | UNSCREENED | 5.96% | no in-house ratios for this holding |
| EL.PA ESSILORLUXOTTICA SA | COMPLIANT | 5.87% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| DECK DECKERS OUTDOOR CORPORATION | COMPLIANT | 5.44% | AAOIFI4.2% Usmani12.2% Dow Jones Islamic2.6% S&P Shariah2.5% MSCI Islamic12.2% MSCI Islamic M-Series2.5% FTSE Shariah0.0% |
| RL RALPH LAUREN CORPORATION | COMPLIANT | 4.58% | AAOIFI13.4% Usmani39.2% Dow Jones Islamic15.7% S&P Shariah18.9% MSCI Islamic36.2% MSCI Islamic M-Series18.9% FTSE Shariah16.2% |
| MONC.MI MONCLER S.P.A. | COMPLIANT | 4.46% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| EL THE ESTEE LAUDER COMPANIES INC. | NON_COMPLIANT | 4.44% | AAOIFI25.1% Usmani46.9% Dow Jones Islamic30.8% S&P Shariah26.5% MSCI Islamic46.8% MSCI Islamic M-Series26.5% FTSE Shariah37.0% |
| TPR TAPESTRY, INC. | COMPLIANT | 4.43% | AAOIFI16.9% Usmani59.3% Dow Jones Islamic18.9% S&P Shariah23.7% MSCI Islamic59.3% MSCI Islamic M-Series23.7% FTSE Shariah35.8% |
| KER.PA KERING SA | NON_COMPLIANT | 4.38% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| PNDORA.CO Pandora A/S | COMPLIANT | 4.07% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 4452.T Kao Corporation | COMPLIANT | 3.98% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| RACE Ferrari N.V. | COMPLIANT | 3.97% | AAOIFI4.3% Usmani30.0% Dow Jones Islamic4.4% S&P Shariah4.6% MSCI Islamic30.0% MSCI Islamic M-Series4.6% FTSE Shariah30.0% |
| BRBY.L BURBERRY GROUP PLC | NON_COMPLIANT | 2.99% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| VFC V.F. CORPORATION | NON_COMPLIANT | 2.86% | AAOIFI83.1% Usmani53.5% Dow Jones Islamic75.7% S&P Shariah78.7% MSCI Islamic53.5% MSCI Islamic M-Series78.7% FTSE Shariah37.9% |
| 4911.T Shiseido Company, Limited | COMPLIANT | 2.53% | AAOIFIpass Usmanifail Dow Jones Islamicfail S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| VAIL RESORTS, INC. | UNSCREENED | 2.26% | no in-house ratios for this holding |
| BATH & BODY WORKS, INC. | UNSCREENED | 2.04% | no in-house ratios for this holding |
| BC.MI BRUNELLO CUCINELLI S.P.A. | COMPLIANT | 1.90% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 1910.HK Samsonite Group S.A. | NON_COMPLIANT | 1.57% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SIG Signet Jewelers Limited | NON_COMPLIANT | 1.31% | AAOIFI31.0% Usmani21.9% Dow Jones Islamic35.8% S&P Shariah34.3% MSCI Islamic21.9% MSCI Islamic M-Series34.3% FTSE Shariah0.0% |
| 1913.HK PRADA S.P.A. | NON_COMPLIANT | 1.30% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
The published standards disagree about this fund by 45 points of portfolio weight — 64.0% of it passes AAOIFI, 19.1% 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 64.0% ratios fail on 14.4% 19.9% not rated under AAOIFI
ratios pass on 19.1% ratios fail on 55.3% 23.8% not rated under Usmani
ratios pass on 57.5% ratios fail on 16.9% 23.8% not rated under Dow Jones Islamic
ratios pass on 60.0% ratios fail on 14.4% 23.8% not rated under S&P Shariah
ratios pass on 36.5% ratios fail on 38.0% 23.8% not rated under MSCI Islamic
ratios pass on 60.0% ratios fail on 14.4% 23.8% not rated under MSCI Islamic M-Series
ratios pass on 41.0% ratios fail on 33.4% 23.8% not rated under FTSE Shariah
19 of 23 listed holdings carry our own per-methodology verdicts (78% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 7 (27% 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.
KraneShares Global Luxury Index ETF (KLXY) 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 |
|---|---|---|
| MC.PALVMH MOET HENNESSY LOUIS VUITTON SE | 10.34% | Compliant |
| COMPAGNIE FINANCIERE RICHEMONT SAnot matched to a ticker | 9.59% | Not screened |
| OR.PAL'OREAL SA | 7.95% | Compliant |
| HERMES INTERNATIONAL S.C.A.not matched to a ticker | 5.96% | Not screened |
| EL.PAESSILORLUXOTTICA SA | 5.87% | Compliant |
| DECKDECKERS OUTDOOR CORPORATION | 5.44% | Compliant |
| RLRALPH LAUREN CORPORATION | 4.58% | Compliant |
| MONC.MIMONCLER S.P.A. | 4.46% | Compliant |
| ELTHE ESTEE LAUDER COMPANIES INC. | 4.44% | Non-compliant |
| TPRTAPESTRY, INC. | 4.43% | Compliant |
Top 10 of 23 holdings, 63.1% 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 KLXY. 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
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.