NWGQXETF / FundNationwide Renaissance Small Cap Growth Fund
Verdicts genuinely change. Free email alert the moment NWGQX'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.
Nationwide Renaissance Small Cap Growth Fund · Nationwide Mutual Funds
50 holdings
NON-COMPLIANT 28.01% of portfolio weight is in non-compliant holdings, over the 5% threshold.
50 holdings, 44 matched (89% of weight). Portfolio as of 2026-07-31, filed 2026-09-18. Source: SEC Form N-PORT.
1.21% of this portfolio’s income is non-permissible — weighted across holdings, computed over 82% of portfolio weight (40 of 50 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.
60.7% compliant 0.0% questionable 28.0% non-compliant 10.8% unscreened
All holdings (50)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| HURN Huron Consulting Group, Inc. | NON_COMPLIANT | 3.32% | AAOIFI35.9% Usmani55.8% Dow Jones Islamic38.0% S&P Shariah40.9% MSCI Islamic55.8% MSCI Islamic M-Series40.9% FTSE Shariah53.8% |
| AIR AAR Corp. | NON_COMPLIANT | 2.88% | AAOIFI24.2% Usmani29.0% Dow Jones Islamic29.6% S&P Shariah33.0% MSCI Islamic29.0% MSCI Islamic M-Series33.0% FTSE Shariah25.7% |
| IESC IES Holdings, Inc. | COMPLIANT | 2.82% | AAOIFI0.8% Usmani4.9% Dow Jones Islamic1.5% S&P Shariah1.9% MSCI Islamic4.9% MSCI Islamic M-Series1.9% FTSE Shariah1.5% |
| EXLS ExlService Holdings, Inc. | COMPLIANT | 2.60% | AAOIFI9.3% Usmani31.1% Dow Jones Islamic8.2% S&P Shariah8.8% MSCI Islamic30.9% MSCI Islamic M-Series8.8% FTSE Shariah24.9% |
| MMSI Merit Medical Systems, Inc. | COMPLIANT | 2.56% | AAOIFI15.3% Usmani28.6% Dow Jones Islamic15.9% S&P Shariah16.6% MSCI Islamic28.6% MSCI Islamic M-Series16.6% FTSE Shariah25.7% |
| PLMR Palomar Holdings, Inc. | NON_COMPLIANT | 2.46% | AAOIFI8.4% Usmani7.5% Dow Jones Islamic9.1% S&P Shariah10.7% MSCI Islamic7.5% MSCI Islamic M-Series10.7% FTSE Shariah7.5% |
| ADUS Addus HomeCare Corp. | COMPLIANT | 2.42% | AAOIFI4.9% Usmani7.5% Dow Jones Islamic5.3% S&P Shariah5.7% MSCI Islamic7.5% MSCI Islamic M-Series5.7% FTSE Shariah4.2% |
| RELY Remitly Global, Inc. | COMPLIANT | 2.41% | AAOIFI0.7% Usmani2.4% Dow Jones Islamic1.0% S&P Shariah1.0% MSCI Islamic2.4% MSCI Islamic M-Series1.0% FTSE Shariah0.2% |
| HQY HealthEquity, Inc. | COMPLIANT | 2.39% | AAOIFI12.2% Usmani29.7% Dow Jones Islamic12.2% S&P Shariah13.0% MSCI Islamic29.7% MSCI Islamic M-Series13.0% FTSE Shariah28.5% |
| UFPT UFP Technologies, Inc. | COMPLIANT | 2.35% | AAOIFI6.1% Usmani20.0% Dow Jones Islamic7.3% S&P Shariah7.6% MSCI Islamic20.0% MSCI Islamic M-Series7.6% FTSE Shariah17.2% |
| MEDP Medpace Holdings, Inc. | COMPLIANT | 2.34% | AAOIFIpass Usmani— Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariah— |
| SANM Sanmina Corp. | COMPLIANT | 2.34% | AAOIFI25.7% Usmani25.0% Dow Jones Islamic33.0% S&P Shariah40.2% MSCI Islamic25.0% MSCI Islamic M-Series40.2% FTSE Shariah22.3% |
| AX Axos Financial, Inc. | NON_COMPLIANT | 2.32% | AAOIFI23.3% Usmani4.3% Dow Jones Islamic28.2% S&P Shariah32.0% MSCI Islamic4.3% MSCI Islamic M-Series32.0% FTSE Shariah4.3% |
| MXL MaxLinear, Inc. | COMPLIANT | 2.14% | AAOIFI2.5% Usmani18.0% Dow Jones Islamic6.0% S&P Shariah6.8% MSCI Islamic18.0% MSCI Islamic M-Series6.8% FTSE Shariah15.1% |
| Sprouts Farmers Market, Inc. | UNSCREENED | 2.14% | no in-house ratios for this holding |
| ZETA Zeta Global Holdings Corp. | COMPLIANT | 2.10% | AAOIFI4.1% Usmani15.0% Dow Jones Islamic4.5% S&P Shariah5.1% MSCI Islamic15.0% MSCI Islamic M-Series5.1% FTSE Shariah13.5% |
| Brink's Co. (The) | UNSCREENED | 2.09% | no in-house ratios for this holding |
| CTRE CareTrust REIT, Inc. | NON_COMPLIANT | 2.08% | AAOIFI14.4% Usmani20.3% Dow Jones Islamic17.3% S&P Shariah21.3% MSCI Islamic20.3% MSCI Islamic M-Series21.3% FTSE Shariah20.3% |
| Belden, Inc. | UNSCREENED | 2.07% | no in-house ratios for this holding |
| NMIH NMI Holdings, Inc. | NON_COMPLIANT | 2.06% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| SPXC SPX Technologies, Inc. | COMPLIANT | 2.04% | AAOIFI6.2% Usmani15.6% Dow Jones Islamic6.9% S&P Shariah8.0% MSCI Islamic15.6% MSCI Islamic M-Series8.0% FTSE Shariah15.6% |
| TMDX TransMedics Group, Inc. | NON_COMPLIANT | 2.03% | AAOIFI0.8% Usmani25.5% Dow Jones Islamic0.7% S&P Shariah0.8% MSCI Islamic1.8% MSCI Islamic M-Series0.8% FTSE Shariah1.4% |
| FSS Federal Signal Corp. | COMPLIANT | 1.99% | AAOIFI6.7% Usmani19.9% Dow Jones Islamic7.6% S&P Shariah8.3% MSCI Islamic19.9% MSCI Islamic M-Series8.3% FTSE Shariah18.6% |
| PRVA Privia Health Group, Inc. | NON_COMPLIANT | 1.99% | AAOIFI0.3% Usmani0.6% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic0.6% MSCI Islamic M-Series0.3% FTSE Shariah0.0% |
| NESR National Energy Services Reunited Corp. | COMPLIANT | 1.98% | AAOIFI7.1% Usmani11.9% Dow Jones Islamic17.4% S&P Shariahpass MSCI Islamic11.9% MSCI Islamic M-Seriespass FTSE Shariah10.7% |
| ENSG Ensign Group, Inc. (The) | COMPLIANT | 1.96% | AAOIFI22.6% Usmani39.1% Dow Jones Islamic24.0% S&P Shariah26.7% MSCI Islamic39.1% MSCI Islamic M-Series26.7% FTSE Shariah2.4% |
| IMAX IMAX Corp. | NON_COMPLIANT | 1.96% | AAOIFI8.8% Usmani26.6% Dow Jones Islamic13.2% S&P Shariah15.8% MSCI Islamic26.6% MSCI Islamic M-Series15.8% FTSE Shariah26.6% |
| BTSG BrightSpring Health Services, Inc. | COMPLIANT | 1.95% | AAOIFI20.1% Usmani39.9% Dow Jones Islamic35.2% S&P Shariah43.5% MSCI Islamic39.6% MSCI Islamic M-Series43.5% FTSE Shariah36.6% |
| Cardinal Infrastructure Group, Inc. | UNSCREENED | 1.94% | no in-house ratios for this holding |
| LTH Life Time Group Holdings, Inc. | NON_COMPLIANT | 1.90% | AAOIFI44.1% Usmani51.2% Dow Jones Islamic66.9% S&P Shariah80.4% MSCI Islamic51.0% MSCI Islamic M-Series80.4% FTSE Shariah17.9% |
| STRL Sterling Infrastructure, Inc. | COMPLIANT | 1.90% | AAOIFI2.2% Usmani10.6% Dow Jones Islamic3.3% S&P Shariah4.3% MSCI Islamic10.5% MSCI Islamic M-Series4.3% FTSE Shariah8.9% |
| WAY Waystar Holding Corp. | NON_COMPLIANT | 1.87% | AAOIFI36.9% Usmani25.2% Dow Jones Islamic26.1% S&P Shariah— MSCI Islamic25.2% MSCI Islamic M-Series— FTSE Shariah25.0% |
| CVSA Covista, Inc. | COMPLIANT | 1.86% | AAOIFI21.3% Usmani30.1% Dow Jones Islamic22.9% S&P Shariah26.8% MSCI Islamic30.1% MSCI Islamic M-Series26.8% FTSE Shariah22.0% |
| KNSL Kinsale Capital Group, Inc. | NON_COMPLIANT | 1.82% | AAOIFI2.6% Usmani3.5% Dow Jones Islamic2.3% S&P Shariah2.3% MSCI Islamic3.5% MSCI Islamic M-Series2.3% FTSE Shariah3.5% |
| DY Dycom Industries, Inc. | COMPLIANT | 1.81% | AAOIFI33.4% Usmani46.6% Dow Jones Islamic36.4% S&P Shariah44.4% MSCI Islamic46.6% MSCI Islamic M-Series44.4% FTSE Shariah43.1% |
| CVLT Commvault Systems, Inc. | COMPLIANT | 1.79% | AAOIFI16.2% Usmani48.5% Dow Jones Islamic14.5% S&P Shariah16.3% MSCI Islamic48.5% MSCI Islamic M-Series16.3% FTSE Shariah46.7% |
| AEIS Advanced Energy Industries, Inc. | COMPLIANT | 1.76% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| FN Fabrinet | COMPLIANT | 1.73% | AAOIFI0.0% Usmani0.1% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.1% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| NXT Nextpower, Inc. | COMPLIANT | 1.67% | AAOIFI0.3% Usmani0.9% Dow Jones Islamic0.4% S&P Shariah0.5% MSCI Islamic0.9% MSCI Islamic M-Series0.5% FTSE Shariah0.0% |
| MOD Modine Manufacturing Co. | COMPLIANT | 1.66% | AAOIFI6.1% Usmani22.5% Dow Jones Islamic7.8% S&P Shariah9.3% MSCI Islamic22.4% MSCI Islamic M-Series9.3% FTSE Shariah17.3% |
| INOD Innodata, Inc. | COMPLIANT | 1.66% | AAOIFI0.2% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.3% MSCI Islamic1.1% MSCI Islamic M-Series0.3% FTSE Shariah0.0% |
| QTWO Q2 Holdings, Inc. | COMPLIANT | 1.58% | AAOIFI1.1% Usmani4.2% Dow Jones Islamic0.9% S&P Shariah1.0% MSCI Islamic4.2% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
| Solaris Energy Infrastructure, Inc. | UNSCREENED | 1.51% | no in-house ratios for this holding |
| BOOT Boot Barn Holdings, Inc. | COMPLIANT | 1.45% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| SPSC SPS Commerce, Inc. | COMPLIANT | 1.44% | AAOIFI0.2% Usmani0.6% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.6% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| LRN Stride, Inc. | COMPLIANT | 1.42% | AAOIFI12.2% Usmani22.4% Dow Jones Islamic9.2% S&P Shariah10.7% MSCI Islamic17.6% MSCI Islamic M-Series10.7% FTSE Shariah17.2% |
| RMBS Rambus, Inc. | COMPLIANT | 1.32% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| GPI Group 1 Automotive, Inc. | NON_COMPLIANT | 1.31% | AAOIFI107.4% Usmani35.1% Dow Jones Islamic73.5% S&P Shariah78.9% MSCI Islamic35.1% MSCI Islamic M-Series78.9% FTSE Shariah32.8% |
| CENX Century Aluminum Co. | COMPLIANT | 1.27% | AAOIFI10.4% Usmani16.7% Dow Jones Islamic15.7% S&P Shariah19.8% MSCI Islamic16.7% MSCI Islamic M-Series19.8% FTSE Shariah16.7% |
| AeroVironment, Inc. | UNSCREENED | 1.09% | no in-house ratios for this holding |
The published standards disagree about this fund by 30 points of portfolio weight — 61.5% of it passes AAOIFI, 31.5% 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 61.5% ratios fail on 18.9% 19.1% not rated under AAOIFI
ratios pass on 44.6% ratios fail on 30.2% 24.8% not rated under Usmani
ratios pass on 57.7% ratios fail on 19.0% 22.9% not rated under Dow Jones Islamic
ratios pass on 52.4% ratios fail on 24.2% 22.9% not rated under S&P Shariah
ratios pass on 31.5% ratios fail on 45.7% 22.4% not rated under MSCI Islamic
ratios pass on 55.3% ratios fail on 21.3% 22.9% not rated under MSCI Islamic M-Series
ratios pass on 49.9% ratios fail on 27.0% 22.6% not rated under FTSE Shariah
44 of 50 listed holdings carry our own per-methodology verdicts (89% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 40 (82% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| HURN Huron Consulting Group, Inc. | 3.32% |
| AIR AAR Corp. | 2.88% |
| PLMR Palomar Holdings, Inc. | 2.46% |
| AX Axos Financial, Inc. | 2.32% |
| CTRE CareTrust REIT, Inc. | 2.08% |
| NMIH NMI Holdings, Inc. | 2.06% |
| TMDX TransMedics Group, Inc. | 2.03% |
| PRVA Privia Health Group, Inc. | 1.99% |
| IMAX IMAX Corp. | 1.96% |
| LTH Life Time Group Holdings, Inc. | 1.90% |
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Nationwide Renaissance Small Cap Growth Fund (NWGQX) 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.
Screened on its holdings, not its name
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 |
|---|---|---|
| HURNHuron Consulting Group, Inc. | 3.32% | Non-compliant |
| AIRAAR Corp. | 2.88% | Non-compliant |
| IESCIES Holdings, Inc. | 2.82% | Compliant |
| EXLSExlService Holdings, Inc. | 2.60% | Compliant |
| MMSIMerit Medical Systems, Inc. | 2.56% | Compliant |
| PLMRPalomar Holdings, Inc. | 2.46% | Non-compliant |
| ADUSAddus HomeCare Corp. | 2.42% | Compliant |
| RELYRemitly Global, Inc. | 2.41% | Compliant |
| HQYHealthEquity, Inc. | 2.39% | Compliant |
| UFPTUFP Technologies, Inc. | 2.35% | Compliant |
Top 10 of 50 holdings, 26.2% of the fund by weight. Every holding is screened, not only these.
What holds the number back
The positions keeping this fund short of 100% compliant by weight.
- HURNnon-compliant3.32%
- AIRnon-compliant2.88%
- PLMRnon-compliant2.46%
- AXnon-compliant2.32%
- Sprouts Farmers Market, Inc.not screened2.14%
- Brink's Co. (The)not screened2.09%
What changed, and when
Verdict history for NWGQX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
- 2026-09-07 No change recorded No verdict change for NWGQX has been recorded since tracking began. The scan ledger records that the compliance detectors ran, not which symbols each pass covered.
ℹ️ no compliance scan has run for 3 days - this is not a reading of today
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.
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.
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.