MEDXETF / FundHorizon Kinetics Medical ETF
Verdicts genuinely change. Free email alert the moment MEDX'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.
Horizon Kinetics Medical ETF ETF · Listed Funds Trust
33 holdings · as of 2026-06-30 (3.8 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.
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 102% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 19.65% of portfolio weight is in non-compliant holdings, over the 5% threshold.
33 holdings, 27 matched (89% of weight). Portfolio as of 2026-06-30, filed 2026-08-26. Source: SEC Form N-PORT.
5.90% of this portfolio’s income is non-permissible — weighted across holdings, computed over 63% of portfolio weight (20 of 33 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.
69.6% compliant 0.0% questionable 19.3% non-compliant 11.1% unscreened
All holdings (33)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| LLY Eli Lilly & Co | COMPLIANT | 18.46% | AAOIFI5.2% Usmani38.6% Dow Jones Islamic6.4% S&P Shariah6.9% MSCI Islamic38.6% MSCI Islamic M-Series6.9% FTSE Shariah38.6% |
| US BANK MMDA - USBGFS 7 | UNSCREENED | 9.19% | no in-house ratios for this holding |
| ABBV AbbVie Inc | COMPLIANT | 8.85% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| NVS Novartis AG | COMPLIANT | 6.89% | AAOIFI12.5% Usmani25.9% Dow Jones Islamic11.8% S&P Shariah12.6% MSCI Islamic25.9% MSCI Islamic M-Series12.6% FTSE Shariah25.9% |
| JNJ Johnson & Johnson | COMPLIANT | 5.59% | AAOIFI7.6% Usmani24.4% Dow Jones Islamic10.9% S&P Shariah11.7% MSCI Islamic24.4% MSCI Islamic M-Series11.7% FTSE Shariah24.4% |
| ALKS Alkermes PLC | COMPLIANT | 5.53% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| AZN AstraZeneca PLC | COMPLIANT | 4.98% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| IONS Ionis Pharmaceuticals Inc | NON_COMPLIANT | 4.53% | AAOIFI21.0% Usmani67.5% Dow Jones Islamic23.0% S&P Shariah25.1% MSCI Islamic67.5% MSCI Islamic M-Series25.1% FTSE Shariah58.8% |
| BMY Bristol-Myers Squibb Co | NON_COMPLIANT | 4.42% | AAOIFI37.3% Usmani51.1% Dow Jones Islamic42.2% S&P Shariah44.8% MSCI Islamic51.1% MSCI Islamic M-Series44.8% FTSE Shariah48.9% |
| MRK Merck & Co Inc | COMPLIANT | 3.96% | AAOIFI14.7% Usmani41.5% Dow Jones Islamic21.8% S&P Shariah20.9% MSCI Islamic41.5% MSCI Islamic M-Series20.9% FTSE Shariah41.5% |
| AMGN Amgen Inc | COMPLIANT | 3.91% | AAOIFI24.9% Usmani59.9% Dow Jones Islamic33.6% S&P Shariah35.1% MSCI Islamic59.9% MSCI Islamic M-Series35.1% FTSE Shariah59.9% |
| ALNY Alnylam Pharmaceuticals Inc | COMPLIANT | 3.42% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| BIIB Biogen Inc | COMPLIANT | 3.09% | AAOIFI21.2% Usmani22.5% Dow Jones Islamic27.5% S&P Shariah24.3% MSCI Islamic22.5% MSCI Islamic M-Series24.3% FTSE Shariah21.3% |
| PFE Pfizer Inc | NON_COMPLIANT | 2.86% | AAOIFI39.8% Usmani31.4% Dow Jones Islamic46.1% S&P Shariah45.9% MSCI Islamic31.4% MSCI Islamic M-Series45.9% FTSE Shariah31.4% |
| GSK GSK PLC | COMPLIANT | 2.71% | AAOIFI19.2% Usmani23.6% Dow Jones Islamic10.6% S&P Shariah11.2% MSCI Islamic23.6% MSCI Islamic M-Series11.2% FTSE Shariah23.6% |
| CRSP CRISPR Therapeutics AG | NON_COMPLIANT | 2.64% | AAOIFI15.5% Usmani29.6% Dow Jones Islamic17.0% S&P Shariah16.8% MSCI Islamic29.6% MSCI Islamic M-Series16.8% FTSE Shariah22.1% |
| REGN Regeneron Pharmaceuticals Inc | COMPLIANT | 2.06% | AAOIFI2.4% Usmani6.5% Dow Jones Islamic3.0% S&P Shariah2.7% MSCI Islamic4.8% MSCI Islamic M-Series2.7% FTSE Shariah4.8% |
| BEAM Beam Therapeutics Inc | NON_COMPLIANT | 1.51% | AAOIFI8.2% Usmani17.8% Dow Jones Islamic10.4% S&P Shariah10.7% MSCI Islamic17.8% MSCI Islamic M-Series10.7% FTSE Shariah7.2% |
| Galectin Therapeutics Inc | UNSCREENED | 1.14% | no in-house ratios for this holding |
| NTLA Intellia Therapeutics Inc | NON_COMPLIANT | 1.12% | AAOIFI4.1% Usmani8.6% Dow Jones Islamic5.1% S&P Shariah4.1% MSCI Islamic8.6% MSCI Islamic M-Series4.1% FTSE Shariah0.0% |
| SDZ.SW Sandoz Group AG | COMPLIANT | 0.80% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| Replimune Group Inc | UNSCREENED | 0.73% | no in-house ratios for this holding |
| VNDA Vanda Pharmaceuticals Inc | NON_COMPLIANT | 0.73% | AAOIFI5.1% Usmani5.5% Dow Jones Islamic4.9% S&P Shariah5.2% MSCI Islamic3.8% MSCI Islamic M-Series5.2% FTSE Shariah0.0% |
| HLN Haleon PLC | COMPLIANT | 0.60% | AAOIFI27.2% Usmani26.4% Dow Jones Islamic13.2% S&P Shariah13.9% MSCI Islamic26.4% MSCI Islamic M-Series13.9% FTSE Shariah26.4% |
| LTRN Lantern Pharma Inc | NON_COMPLIANT | 0.55% | AAOIFI0.2% Usmani0.5% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.5% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| EDIT Editas Medicine Inc | NON_COMPLIANT | 0.47% | AAOIFI14.4% Usmani30.0% Dow Jones Islamic30.8% S&P Shariah20.4% MSCI Islamic30.0% MSCI Islamic M-Series20.4% FTSE Shariah23.5% |
| GEHC GE HealthCare Technologies Inc | NON_COMPLIANT | 0.28% | AAOIFI34.9% Usmani28.5% Dow Jones Islamic30.2% S&P Shariah30.1% MSCI Islamic28.4% MSCI Islamic M-Series30.1% FTSE Shariah27.3% |
| 50BA.SG Bicycle Therapeutics PLC | NON_COMPLIANT | 0.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| VTRS Viatris Inc | NON_COMPLIANT | 0.26% | AAOIFI65.8% Usmani38.9% Dow Jones Islamic100.2% S&P Shariah105.1% MSCI Islamic38.9% MSCI Islamic M-Series105.1% FTSE Shariah38.1% |
| Allogene Therapeutics Inc | UNSCREENED | 0.18% | no in-house ratios for this holding |
| Pacific Biosciences of Califor | UNSCREENED | 0.09% | no in-house ratios for this holding |
| DCOY Decoy Therapeutics Inc | NON_COMPLIANT | 0.00% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| Pathos AI Inc | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 39 points of portfolio weight — 55.6% of it passes AAOIFI, 16.7% 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 55.6% ratios fail on 21.0% 25.3% not rated under AAOIFI
ratios pass on 23.5% ratios fail on 53.0% 25.3% not rated under Usmani
ratios pass on 45.1% ratios fail on 24.1% 32.7% not rated under Dow Jones Islamic
ratios pass on 45.1% ratios fail on 24.1% 32.7% not rated under S&P Shariah
ratios pass on 16.7% ratios fail on 53.0% 32.2% not rated under MSCI Islamic
ratios pass on 45.1% ratios fail on 24.1% 32.7% not rated under MSCI Islamic M-Series
ratios pass on 16.7% ratios fail on 53.0% 32.2% not rated under FTSE Shariah
27 of 33 listed holdings carry our own per-methodology verdicts (90% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 21 (67% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| IONS Ionis Pharmaceuticals Inc | 4.53% |
| BMY Bristol-Myers Squibb Co | 4.42% |
| PFE Pfizer Inc | 2.86% |
| CRSP CRISPR Therapeutics AG | 2.64% |
| BEAM Beam Therapeutics Inc | 1.51% |
| NTLA Intellia Therapeutics Inc | 1.12% |
| VNDA Vanda Pharmaceuticals Inc | 0.73% |
| LTRN Lantern Pharma Inc | 0.55% |
| EDIT Editas Medicine Inc | 0.47% |
| GEHC GE HealthCare Technologies Inc | 0.28% |
Methodology breakdown computing — it will appear here on its own.
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Why this signal?
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
Horizon Kinetics Medical ETF (MEDX) 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.
🕌 In-house Compliance Research
Computing the full ratio and business-activity breakdown for MEDX — 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.
Price Forecast
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.
Technical Summary
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.
Every indicator, and what it reads
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 57.80 | NEUTRAL |
| Stochastic %K (14) | 76.53 | NEUTRAL |
| CCI (20) | 103.36 | SELL |
| Williams %R (14) | -23.47 | NEUTRAL |
| MACD (12,26,9) | 0.22 | BUY |
| ROC (10) | 3.50 | BUY |
| Momentum (10) | 1.23 | BUY |
| EMA (10) | 36.16 | BUY |
| SMA (10) | 36.01 | BUY |
| EMA (20) | 35.84 | BUY |
| SMA (20) | 35.52 | BUY |
| EMA (30) | 35.76 | BUY |
| SMA (30) | 35.48 | BUY |
| EMA (50) | 35.69 | BUY |
| SMA (50) | 35.91 | BUY |
| EMA (100) | 35.36 | BUY |
| SMA (100) | 35.64 | BUY |
| EMA (200) | 34.56 | BUY |
| SMA (200) | 34.55 | BUY |
About Horizon Kinetics Medical ETF
The fund is an actively-managed exchange-traded fund (“ETF”) that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes in common stocks, convertible securities, warrants and other equity securities having the characteristics of common stocks of U.S. and foreign companies engaged in medical research, pharmaceutical and medical technology industries and related technology industries. The fund is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
Weak — low conviction, small size or skip
SMC — Top Down
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 | BULLISH | 44 |
| ⏲ 5-Min | NEUTRAL | 22 |
Momentum & Volume
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.
Peer Movement
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.
Before you act on this
The questions worth asking about any verdict on this page, answered plainly.
Is a fund screened on its name?
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.
What does unrated weight mean?
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.
Does the issuer's board make it compliant?
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.
How often is this re-screened?
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.
Compare with
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 Activity (90d)
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
COT Positioning — E-MINI S&P 500 - CHICAGO MERCANTILE EXCHANGE
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 2026-10-20 · Asset managers net 901377 (-14458)
AI Summary
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.