PTRBETF / FundPGIM Total Return Bond ETF
Verdicts genuinely change. Free email alert the moment PTRB'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.
PGIM Total Return Bond ETF ETF · PGIM ETF Trust
1,334 holdings · as of 2026-08-31 (2.0 months ago)
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 104% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT At least 51.28% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 50% turns out to be. Matching more holdings can only raise this share, never lower it.
35.99% of that is conventional interest-bearing debt, identified from the fund's own filing rather than by screening an issuer. Sukuk are deliberately excluded from this test and are never counted here.
1,334 holdings, 552 matched (52% of weight). Portfolio as of 2026-08-31, filed 2026-10-29. Source: SEC Form N-PORT.
5.33% of this portfolio’s income is non-permissible — weighted across holdings, computed over 10% of portfolio weight (296 of 1334 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.
Portfolio shares are withheld: coverage is below the floor needed to state one. The holdings themselves are below, because the names are evidence you can check.
All holdings (1,334) · showing 1–250
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 3.06% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 2.74% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 2.58% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 2.57% | no in-house ratios for this holding |
| PGIM ETF Trust | UNSCREENED | 2.53% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 2.16% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 1.68% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 1.23% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 1.09% | no in-house ratios for this holding |
| CANYON EURO CLO 2023-1 DAC | UNSCREENED | 1.00% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.88% | no in-house ratios for this holding |
| PGIM ETF Trust | UNSCREENED | 0.85% | no in-house ratios for this holding |
| Prudential Government Money Market Fund Inc. | UNSCREENED | 0.84% | no in-house ratios for this holding |
| CBAM 2017-2 LTD | UNSCREENED | 0.77% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.73% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.68% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.68% | no in-house ratios for this holding |
| AGL CORE CLO | UNSCREENED | 0.67% | no in-house ratios for this holding |
| PGIM ETF Trust | UNSCREENED | 0.63% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.62% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.61% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.59% | no in-house ratios for this holding |
| MADISON PARK FUNDING LXIII LTD | UNSCREENED | 0.56% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.53% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| ROCKFORD TOWER CLO 2023-1 LTD | UNSCREENED | 0.50% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.50% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.49% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.48% | no in-house ratios for this holding |
| CVC CORDATUS LOAN FUND XV DAC | UNSCREENED | 0.43% | no in-house ratios for this holding |
| MS MORGAN STANLEY | NON_COMPLIANT | 0.43% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| BAC BANK OF AMERICA CORP | NON_COMPLIANT | 0.43% | AAOIFI77.5% Usmani9.7% Dow Jones Islamic95.9% S&P Shariah105.7% MSCI Islamic9.7% MSCI Islamic M-Series105.7% FTSE Shariah9.7% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.43% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.42% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.41% | no in-house ratios for this holding |
| PGIM ETF Trust | UNSCREENED | 0.38% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.37% | no in-house ratios for this holding |
| AVOCA CLO XXIX DAC | UNSCREENED | 0.36% | no in-house ratios for this holding |
| GS GOLDMAN SACHS GROUP INC (THE) | NON_COMPLIANT | 0.35% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
| MS MORGAN STANLEY | NON_COMPLIANT | 0.35% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.35% | no in-house ratios for this holding |
| OCTAGON 55 LTD | UNSCREENED | 0.34% | no in-house ratios for this holding |
| KENNEDY LEWIS CLO 3 LTD | UNSCREENED | 0.34% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.34% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.34% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.34% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.33% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.33% | no in-house ratios for this holding |
| EXPERIAN FINANCE US INC | UNSCREENED | 0.32% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.31% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.31% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.31% | no in-house ratios for this holding |
| MERCEDES-BENZ FINANCE NORTH AMERICA LLC | UNSCREENED | 0.30% | no in-house ratios for this holding |
| BANK5 2024-5YR10 | UNSCREENED | 0.30% | no in-house ratios for this holding |
| JP MORGAN CHASE & COMPANY | UNSCREENED | 0.30% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.30% | no in-house ratios for this holding |
| DBC 2025-DBC MORTGAGE TRUST | UNSCREENED | 0.28% | no in-house ratios for this holding |
| TIKEHAU CLO IV DAC | UNSCREENED | 0.27% | no in-house ratios for this holding |
| BMO 2026-5C15 MORTGAGE TRUST | UNSCREENED | 0.27% | no in-house ratios for this holding |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.27% | no in-house ratios for this holding |
| JACOBS ENGINEERING GROUP INC | UNSCREENED | 0.26% | no in-house ratios for this holding |
| BX TRUST 2026-ORBT | UNSCREENED | 0.26% | no in-house ratios for this holding |
| OCTAGON 68 LTD | UNSCREENED | 0.26% | no in-house ratios for this holding |
| CIFC FUNDING 2018-II LTD | UNSCREENED | 0.26% | no in-house ratios for this holding |
| BAC BANK OF AMERICA CORP | NON_COMPLIANT | 0.26% | AAOIFI77.5% Usmani9.7% Dow Jones Islamic95.9% S&P Shariah105.7% MSCI Islamic9.7% MSCI Islamic M-Series105.7% FTSE Shariah9.7% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.25% | no in-house ratios for this holding |
| SUN COMMUNITIES OPERATING LP | UNSCREENED | 0.25% | no in-house ratios for this holding |
| VERUS SECURITIZATION TRUST 2026-R1 | UNSCREENED | 0.25% | no in-house ratios for this holding |
| SKYMILES IP LTD / DELTA AIR LINE INC | UNSCREENED | 0.25% | no in-house ratios for this holding |
| BMO 2024-5C6 MORTGAGE TRUST | UNSCREENED | 0.24% | no in-house ratios for this holding |
| AUTONATION INC | UNSCREENED | 0.23% | no in-house ratios for this holding |
| BENCHMARK 2020-B17 MORTGAGE TRUST | UNSCREENED | 0.23% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.23% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| CONNECT HOLDING II LLC | UNSCREENED | 0.23% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.23% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| MORGAN STANLEY CAPITAL I TRUST 2019-L2 | UNSCREENED | 0.22% | no in-house ratios for this holding |
| TIKEHAU CLO XIII DAC | UNSCREENED | 0.22% | no in-house ratios for this holding |
| BRES COMMERCIAL MORTGAGE TRUST 2025-ATCAP | UNSCREENED | 0.22% | no in-house ratios for this holding |
| JP MORGAN CHASE & COMPANY | UNSCREENED | 0.22% | no in-house ratios for this holding |
| MINISTERO DELL'ECONOMIA E DELLE FINANZE - DIPARTIMENTO DEL TESORO | UNSCREENED | 0.22% | no in-house ratios for this holding |
| MPLX MPLX LP | NON_COMPLIANT | 0.22% | AAOIFI42.8% Usmani60.3% Dow Jones Islamic52.4% S&P Shariah59.3% MSCI Islamic60.3% MSCI Islamic M-Series59.3% FTSE Shariah59.7% |
| GS GOLDMAN SACHS GROUP INC (THE) | NON_COMPLIANT | 0.22% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
| ELMWOOD CLO II LTD | UNSCREENED | 0.21% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.21% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.21% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.21% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.21% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.21% | no in-house ratios for this holding |
| SOPAIPILLA INVESTOR LLC | UNSCREENED | 0.20% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.20% | no in-house ratios for this holding |
| ARE ALEXANDRIA REAL ESTATE EQUITIES INC | NON_COMPLIANT | 0.20% | AAOIFI183.2% Usmani37.0% Dow Jones Islamic113.6% S&P Shariah95.2% MSCI Islamic37.0% MSCI Islamic M-Series95.2% FTSE Shariah37.0% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.20% | no in-house ratios for this holding |
| SANTOS FINANCE LTD | UNSCREENED | 0.20% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.20% | no in-house ratios for this holding |
| MARS INC | UNSCREENED | 0.20% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.19% | no in-house ratios for this holding |
| ELMWOOD CLO 40 LTD | UNSCREENED | 0.19% | no in-house ratios for this holding |
| NWS NEWS CORP | QUESTIONABLE | 0.19% | AAOIFI17.0% Usmani18.8% Dow Jones Islamic17.4% S&P Shariah18.5% MSCI Islamic18.8% MSCI Islamic M-Series18.5% FTSE Shariah12.8% |
| BINOM MORTGAGE LOAN TRUST 2026-NQM1 | UNSCREENED | 0.19% | no in-house ratios for this holding |
| HYUNDAI CAPITAL AMERICA | UNSCREENED | 0.19% | no in-house ratios for this holding |
| BANK5 2024-5YR9 | UNSCREENED | 0.19% | no in-house ratios for this holding |
| AOA TRUST 2025-1301 | UNSCREENED | 0.18% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.18% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.18% | no in-house ratios for this holding |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.18% | no in-house ratios for this holding |
| RFR TRUST 2025-SGRM | UNSCREENED | 0.18% | no in-house ratios for this holding |
| LIBERTY MUTUAL GROUP INC | UNSCREENED | 0.18% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.18% | no in-house ratios for this holding |
| T AT&T INC | NON_COMPLIANT | 0.18% | AAOIFI92.9% Usmani38.0% Dow Jones Islamic94.4% S&P Shariah107.8% MSCI Islamic38.0% MSCI Islamic M-Series107.8% FTSE Shariah33.6% |
| BAYVIEW OPPORTUNITY MASTER FUND VII TRUST 2026-CES2 | UNSCREENED | 0.18% | no in-house ratios for this holding |
| ONEMAIN DIRECT AUTO RECEIVABLES TRUST 2016-1 | UNSCREENED | 0.18% | no in-house ratios for this holding |
| FEDERAL HOME LOAN BANKS | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| COTE D'IVOIRE, REPUBLIC OF | UNSCREENED | 0.17% | no in-house ratios for this holding |
| RADIATE HOLDCO LLC | UNSCREENED | 0.17% | no in-house ratios for this holding |
| GALLATIN CLO XI 2024-1 LTD | UNSCREENED | 0.17% | no in-house ratios for this holding |
| ECUADOR, REPUBLICA DEL - MINISTERIO DE FINANZAS Y CREDITO PUBLICO | UNSCREENED | 0.17% | no in-house ratios for this holding |
| WELLFLEET CLO 2022-1 LTD | UNSCREENED | 0.17% | no in-house ratios for this holding |
| BENCHMARK 2025-V18 MORTGAGE TRUST | UNSCREENED | 0.17% | no in-house ratios for this holding |
| B.A.T CAPITAL CORP | UNSCREENED | 0.17% | no in-house ratios for this holding |
| BEIGNET INVESTOR LLC | UNSCREENED | 0.17% | no in-house ratios for this holding |
| BRAVO RESIDENTIAL FUNDING TRUST 2026-NQM7 | UNSCREENED | 0.17% | no in-house ratios for this holding |
| MOS MOSAIC COMPANY (THE) | NON_COMPLIANT | 0.17% | AAOIFI60.0% Usmani20.5% Dow Jones Islamic59.7% S&P Shariah57.0% MSCI Islamic20.5% MSCI Islamic M-Series57.0% FTSE Shariah19.6% |
| DEUTSCHE BANK AG NEW YORK BRANCH | UNSCREENED | 0.17% | no in-house ratios for this holding |
| FEDERAL HOME LOAN BANKS | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| OBX 2026-NQM2 TRUST | UNSCREENED | 0.17% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| HOMES 2025-NQM3 TRUST | UNSCREENED | 0.17% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.17% | no in-house ratios for this holding |
| VOLKSWAGEN GROUP OF AMERICA FINANCE LLC | UNSCREENED | 0.16% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.16% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| MIZUHO BANK LTD | UNSCREENED | 0.16% | no in-house ratios for this holding |
| NYMT LOAN TRUST 2025-INV1 | UNSCREENED | 0.16% | no in-house ratios for this holding |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-2 | UNSCREENED | 0.16% | no in-house ratios for this holding |
| ORYX FUNDING LLC | UNSCREENED | 0.16% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.16% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| BBCMS MORTGAGE TRUST 2023-5C23 | UNSCREENED | 0.16% | no in-house ratios for this holding |
| OCEAN TRAILS CLO XVI LTD | UNSCREENED | 0.16% | no in-house ratios for this holding |
| ARES COMMERCIAL MORTGAGE TRUST 2026-GCP | UNSCREENED | 0.16% | no in-house ratios for this holding |
| PUGET ENERGY INC | UNSCREENED | 0.16% | no in-house ratios for this holding |
| J JACOBS SOLUTIONS INC | COMPLIANT | 0.16% | AAOIFI23.7% Usmani34.5% Dow Jones Islamic24.8% S&P Shariah24.5% MSCI Islamic34.5% MSCI Islamic M-Series24.5% FTSE Shariah30.5% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.16% | no in-house ratios for this holding |
| RCL ROYAL CARIBBEAN CRUISES LTD | NON_COMPLIANT | 0.16% | AAOIFI33.1% Usmani52.7% Dow Jones Islamic32.9% S&P Shariah40.4% MSCI Islamic52.7% MSCI Islamic M-Series40.4% FTSE Shariah51.2% |
| SLG OFFICE TRUST 2026-PAT | UNSCREENED | 0.16% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.15% | no in-house ratios for this holding |
| GREENSKY HOME IMPROVEMENT ISSUER TRUST 2026-REV1 | UNSCREENED | 0.15% | no in-house ratios for this holding |
| AKRBP.OL AKER BP ASA | NON_COMPLIANT | 0.15% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| VENTURE GLOBAL LNG INC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| MEXICO CITY AIRPORT TRUST | UNSCREENED | 0.15% | no in-house ratios for this holding |
| CARLYLE US CLO 2021-6 LTD | UNSCREENED | 0.15% | no in-house ratios for this holding |
| KENNEDY LEWIS CLO 2 LTD | UNSCREENED | 0.15% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.15% | no in-house ratios for this holding |
| ONEOK INC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| BX COMMERCIAL MORTGAGE TRUST 2024-AIRC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| NEW YORK CITY HOUSING DEVELOPMENT CORP (NY) | UNSCREENED | 0.15% | no in-house ratios for this holding |
| UBSG.SW UBS GROUP AG | NON_COMPLIANT | 0.15% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GPCC AMORTIZING RECEIVABLES 2026-1 LLC | UNSCREENED | 0.15% | no in-house ratios for this holding |
| COLT 2026-6 MORTGAGE LOAN TRUST | UNSCREENED | 0.15% | no in-house ratios for this holding |
| HOMES 2025-NQM3 TRUST | UNSCREENED | 0.15% | no in-house ratios for this holding |
| JP MORGAN MORTGAGE TRUST | UNSCREENED | 0.15% | no in-house ratios for this holding |
| SV RNO PROPERTY OWNER 1 LLC | UNSCREENED | 0.14% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.14% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| ARES TRUST 2026-TRON | UNSCREENED | 0.14% | no in-house ratios for this holding |
| VERUS SECURITIZATION TRUST 2026-5 | UNSCREENED | 0.14% | no in-house ratios for this holding |
| Vista Leveraged Income Fund | UNSCREENED | 0.14% | no in-house ratios for this holding |
| PACIFIC GAS & ELECTRIC COMPANY | UNSCREENED | 0.14% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.14% | no in-house ratios for this holding |
| CLUE OPCO LLC | UNSCREENED | 0.14% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.14% | no in-house ratios for this holding |
| BX TRUST 2018-BILT | UNSCREENED | 0.14% | no in-house ratios for this holding |
| SPACE EXPLORATION TECHNOLOGIES CORP | UNSCREENED | 0.14% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.14% | no in-house ratios for this holding |
| SG RESIDENTIAL MORTGAGE TRUST 2026-5 | UNSCREENED | 0.14% | no in-house ratios for this holding |
| HOMES 2025-NQM3 TRUST | UNSCREENED | 0.13% | no in-house ratios for this holding |
| GS MORTGAGE-BACKED SECURITIES TRUST 2026-CES3 | UNSCREENED | 0.13% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.13% | no in-house ratios for this holding |
| JP MORGAN MORTGAGE TRUST 2024-3 | UNSCREENED | 0.13% | no in-house ratios for this holding |
| WARWICK CAPITAL CLO 4 LTD | UNSCREENED | 0.13% | no in-house ratios for this holding |
| GS MORTGAGE SECURITIES TRUST 2015-GS1 | UNSCREENED | 0.13% | no in-house ratios for this holding |
| COLOMBIA, REPUBLIC OF - MINISTERO DE HACIENDA Y CREDITO PUBLICO | UNSCREENED | 0.13% | no in-house ratios for this holding |
| AFFIRM MASTER TRUST | UNSCREENED | 0.13% | no in-house ratios for this holding |
| AGL CLO I LTD | UNSCREENED | 0.13% | no in-house ratios for this holding |
| GS GOLDMAN SACHS GROUP INC (THE) | NON_COMPLIANT | 0.13% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
| DURST COMMERCIAL MORTGAGE TRUST 2025-151 | UNSCREENED | 0.13% | no in-house ratios for this holding |
| VICI PROPERTIES LP / VICI NOTE CO INC | UNSCREENED | 0.13% | no in-house ratios for this holding |
| ANGEL OAK MORTGAGE TRUST 2026-1 | UNSCREENED | 0.13% | no in-house ratios for this holding |
| ESKOM HOLDINGS SOC LTD | UNSCREENED | 0.13% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.13% | no in-house ratios for this holding |
| C CITIGROUP INC | NON_COMPLIANT | 0.12% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| BANK5 2025-5YR17 | UNSCREENED | 0.12% | no in-house ratios for this holding |
| DOMINICAN, REPUBLIC OF - MINISTERIO DE HACIENDA | UNSCREENED | 0.12% | no in-house ratios for this holding |
| UNH UNITEDHEALTH GROUP INC | NON_COMPLIANT | 0.12% | AAOIFI20.4% Usmani23.7% Dow Jones Islamic20.4% S&P Shariah18.8% MSCI Islamic23.7% MSCI Islamic M-Series18.8% FTSE Shariah23.7% |
| BANK 2020-BNK30 | UNSCREENED | 0.12% | no in-house ratios for this holding |
| Tenneco | UNSCREENED | 0.12% | no in-house ratios for this holding |
| ICE INTERCONTINENTAL EXCHANGE, INC. | NON_COMPLIANT | 0.12% | AAOIFI23.2% Usmani11.8% Dow Jones Islamic22.5% S&P Shariah24.2% MSCI Islamic11.8% MSCI Islamic M-Series24.2% FTSE Shariah11.4% |
| CITIGROUP MORTGAGE LOAN TRUST 2026-HE1 | UNSCREENED | 0.12% | no in-house ratios for this holding |
| MS MORGAN STANLEY | NON_COMPLIANT | 0.12% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| ELLINGTON FINANCIAL MORTGAGE TRUST 2019-1 | UNSCREENED | 0.12% | no in-house ratios for this holding |
| PETROLEOS MEXICANOS SA DE CV | UNSCREENED | 0.12% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.12% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| MAR MARRIOTT INTERNATIONAL INC | NON_COMPLIANT | 0.11% | AAOIFI1.3% Usmani4.8% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic4.8% MSCI Islamic M-Series1.8% FTSE Shariah1.7% |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2026-NQM1 | UNSCREENED | 0.11% | no in-house ratios for this holding |
| ASPIRE MORTGAGE TRUST 2026-2 | UNSCREENED | 0.11% | no in-house ratios for this holding |
| NFLX NETFLIX INC | QUESTIONABLE | 0.11% | AAOIFI5.2% Usmani28.5% Dow Jones Islamic4.1% S&P Shariah4.7% MSCI Islamic28.5% MSCI Islamic M-Series4.7% FTSE Shariah24.5% |
| BLACKSTONE SECURED LENDING FUND | UNSCREENED | 0.11% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.11% | no in-house ratios for this holding |
| GLE.PA SOCIETE GENERALE SA | NON_COMPLIANT | 0.11% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATION OPERATING CAPITAL CORP | UNSCREENED | 0.11% | no in-house ratios for this holding |
| C CITIGROUP INC | NON_COMPLIANT | 0.11% | AAOIFI159.2% Usmani13.8% Dow Jones Islamic214.6% S&P Shariah251.0% MSCI Islamic13.8% MSCI Islamic M-Series251.0% FTSE Shariah13.8% |
| ACRA TRUST 2026-NQM1 | UNSCREENED | 0.11% | no in-house ratios for this holding |
| LENDMARK FUNDING TRUST 2026-1 | UNSCREENED | 0.11% | no in-house ratios for this holding |
| JUBILEE CLO 2023-XXVII DAC | UNSCREENED | 0.11% | no in-house ratios for this holding |
| BRAVO RESIDENTIAL FUNDING TRUST 2026-NQM6 | UNSCREENED | 0.11% | no in-house ratios for this holding |
| ARES COMMERCIAL MORTGAGE TRUST 2026-GCP | UNSCREENED | 0.11% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.11% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.11% | no in-house ratios for this holding |
| SERBIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.11% | no in-house ratios for this holding |
| NYC COMMERCIAL MORTGAGE TRUST 2026-1PARK | UNSCREENED | 0.11% | no in-house ratios for this holding |
| ARGENTINA, REPUBLIC OF - SUBSECRETARIA DE FINANCIAMIENTO | UNSCREENED | 0.11% | no in-house ratios for this holding |
| WFC WELLS FARGO & COMPANY | NON_COMPLIANT | 0.11% | AAOIFI80.2% Usmani9.1% Dow Jones Islamic84.8% S&P Shariah93.9% MSCI Islamic9.1% MSCI Islamic M-Series93.9% FTSE Shariah9.1% |
| JP MORGAN MORTGAGE TRUST 2015-4 | UNSCREENED | 0.11% | no in-house ratios for this holding |
| Federal Home Loan Banks | NON_COMPLIANT | 0.11% | no in-house ratios for this holding |
| BX TRUST 2018-BILT | UNSCREENED | 0.11% | no in-house ratios for this holding |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 2025-DSC3 | UNSCREENED | 0.11% | no in-house ratios for this holding |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.11% | no in-house ratios for this holding |
| VAR.OL VAR ENERGI ASA | NON_COMPLIANT | 0.10% | AAOIFI44.6% Usmani24.6% Dow Jones Islamic— S&P Shariah— MSCI Islamic23.7% MSCI Islamic M-Series— FTSE Shariah23.7% |
| SERBIA, REPUBLIC OF - MINISTRY OF FINANCE | UNSCREENED | 0.10% | no in-house ratios for this holding |
| FMCC FEDERAL HOME LOAN MORTGAGE CORP | NON_COMPLIANT | 0.10% | AAOIFIfail Usmani10.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic10.1% MSCI Islamic M-Seriesfail FTSE Shariah10.1% |
| CROSS 2026-NQM2 MORTGAGE TRUST | UNSCREENED | 0.10% | no in-house ratios for this holding |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.10% | no in-house ratios for this holding |
| BUNGE LTD FINANCE CORP | UNSCREENED | 0.10% | no in-house ratios for this holding |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.10% | no in-house ratios for this holding |
| EOG EOG RESOURCES INC | COMPLIANT | 0.10% | AAOIFI10.8% Usmani15.1% Dow Jones Islamic12.6% S&P Shariah12.5% MSCI Islamic15.1% MSCI Islamic M-Series12.5% FTSE Shariah14.5% |
| PM PHILIP MORRIS INTERNATIONAL INC | NON_COMPLIANT | 0.10% | AAOIFI16.1% Usmani66.9% Dow Jones Islamic18.9% S&P Shariah22.1% MSCI Islamic66.9% MSCI Islamic M-Series22.1% FTSE Shariah66.9% |
| SOLARIS ENERGY INFRASTRUCTURE LLC | UNSCREENED | 0.10% | no in-house ratios for this holding |
| SFD SMITHFIELD FOODS INC | COMPLIANT | 0.10% | AAOIFI27.7% Usmani19.9% Dow Jones Islamic29.3% S&P Shariahpass MSCI Islamic19.9% MSCI Islamic M-Seriespass FTSE Shariah16.7% |
| BRAVO RESIDENTIAL FUNDING TRUST 2022-NQM3 | UNSCREENED | 0.10% | no in-house ratios for this holding |
| FIGRE TRUST 2026-HF7 | UNSCREENED | 0.10% | no in-house ratios for this holding |
| GCAT 2019-NQM3 TRUST | UNSCREENED | 0.10% | no in-house ratios for this holding |
| CVNA CARVANA COMPANY | COMPLIANT | 0.10% | AAOIFI6.8% Usmani38.2% Dow Jones Islamic8.2% S&P Shariah10.9% MSCI Islamic38.2% MSCI Islamic M-Series10.9% FTSE Shariah35.5% |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | NON_COMPLIANT | 0.10% | no in-house ratios for this holding |
| MERIDIAN ARC HOLDCO LLC | UNSCREENED | 0.10% | no in-house ratios for this holding |
| AMZN AMAZON.COM INC | QUESTIONABLE | 0.10% | AAOIFI8.2% Usmani22.1% Dow Jones Islamic9.6% S&P Shariah10.6% MSCI Islamic20.9% MSCI Islamic M-Series10.6% FTSE Shariah12.1% |
| PETROLEOS MEXICANOS SA DE CV | UNSCREENED | 0.10% | no in-house ratios for this holding |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 0.10% | no in-house ratios for this holding |
| CZR CAESARS ENTERTAINMENT INC | NON_COMPLIANT | 0.10% | AAOIFI193.4% Usmani78.3% Dow Jones Islamic192.1% S&P Shariah165.8% MSCI Islamic36.9% MSCI Islamic M-Series165.8% FTSE Shariah36.9% |
| META META PLATFORMS INC | QUESTIONABLE | 0.10% | AAOIFI7.2% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.9% MSCI Islamic25.0% MSCI Islamic M-Series7.9% FTSE Shariah18.6% |
| WMB WILLIAMS COMPANIES INC (THE) | NON_COMPLIANT | 0.10% | AAOIFI35.0% Usmani50.0% Dow Jones Islamic41.0% S&P Shariah47.9% MSCI Islamic50.0% MSCI Islamic M-Series47.9% FTSE Shariah50.0% |
| FORD MOTOR CREDIT COMPANY LLC | UNSCREENED | 0.10% | no in-house ratios for this holding |
The published standards disagree about this fund by 1 points of portfolio weight — 3.6% of it passes FTSE Shariah, 2.9% passes S&P Shariah. 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 3.2% ratios fail on 14.5% 85.9% not rated under AAOIFI
ratios pass on 3.3% ratios fail on 11.3% 89.1% not rated under Usmani
ratios pass on 3.2% ratios fail on 14.3% 86.2% not rated under Dow Jones Islamic
ratios pass on 2.9% ratios fail on 14.4% 86.3% not rated under S&P Shariah
ratios pass on 3.2% ratios fail on 11.3% 89.1% not rated under MSCI Islamic
ratios pass on 2.9% ratios fail on 14.6% 86.2% not rated under MSCI Islamic M-Series
ratios pass on 3.6% ratios fail on 10.9% 89.1% not rated under FTSE Shariah
166 of 1,334 listed holdings carry our own per-methodology verdicts (18% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 144 (17% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 3.06% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 2.74% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 2.58% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 2.57% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 2.16% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 1.68% |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION | 1.23% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 1.09% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 0.88% |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 0.73% |
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.
PGIM Total Return Bond ETF (PTRB) 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.
Still fetching analyst coverage — it ran past this page's budget, so the page painted without waiting. The fetch is still running; reload in a moment and it will be here.
🕌 In-house Compliance Research
Computing the full ratio and business-activity breakdown for PTRB — 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) | 60.30 | NEUTRAL |
| Stochastic %K (14) | 87.81 | SELL |
| CCI (20) | 89.36 | NEUTRAL |
| Williams %R (14) | -12.19 | SELL |
| MACD (12,26,9) | 0.07 | BUY |
| ROC (10) | 0.68 | BUY |
| Momentum (10) | 0.27 | BUY |
| EMA (10) | 40.03 | BUY |
| SMA (10) | 40.02 | BUY |
| EMA (20) | 39.93 | BUY |
| SMA (20) | 39.81 | BUY |
| EMA (30) | 39.94 | BUY |
| SMA (30) | 39.77 | BUY |
| EMA (50) | 40.03 | BUY |
| SMA (50) | 40.03 | BUY |
| EMA (100) | 40.24 | SELL |
| SMA (100) | 40.38 | SELL |
| EMA (200) | 40.44 | SELL |
| SMA (200) | 40.59 | SELL |
About PGIM Total Return Bond ETF
The fund seeks to achieve its objective through a mix of current income and capital appreciation. The fund invests, under normal circumstances, at least 80% of its investable assets in bonds. The fund's sub-adviser allocates assets among different debt securities, including (but not limited to) U.S. government securities, mortgage-related and asset-backed securities (including collateralized debt obligations and collateralized loan obligations), corporate debt securities and foreign debt securities.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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 |
| ⏰ 4H | BULLISH | 33 |
| 🕐 1H | BULLISH | 98 |
| ⏱ 15-Min | BULLISH | 130 |
| ⏲ 5-Min | BULLISH | 234 |
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 2026-10-27 · Asset managers net 923449 (+22072)
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.