QVMSETF / FundInvesco S&P SmallCap 600 QVM Multi-Factor ETF
Verdicts genuinely change. Free email alert the moment QVMS'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.
Invesco S&P SmallCap 600 QVM Multi-Factor ETF ETF · Invesco Exchange-Traded Fund Trust II
533 holdings · as of 2026-08-31 (2.2 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 122% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 49.57% of portfolio weight is in non-compliant holdings, over the 5% threshold.
533 holdings, 458 matched (73% of weight). Portfolio as of 2026-08-31, filed 2026-10-30. Source: SEC Form N-PORT.
3.80% of this portfolio’s income is non-permissible — weighted across holdings, computed over 61% of portfolio weight (377 of 533 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.
31.8% compliant 0.3% questionable 40.7% non-compliant 27.2% unscreened
All holdings (533) · showing 501–533
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| MRTN Marten Transport, Ltd. | COMPLIANT | 0.05% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| CRSR Corsair Gaming, Inc. | COMPLIANT | 0.05% | AAOIFI12.7% Usmani15.2% Dow Jones Islamic20.5% S&P Shariah19.0% MSCI Islamic15.2% MSCI Islamic M-Series19.0% FTSE Shariah9.7% |
| SMP Standard Motor Products, Inc. | NON_COMPLIANT | 0.05% | AAOIFI75.2% Usmani33.9% Dow Jones Islamic94.1% S&P Shariah97.1% MSCI Islamic33.9% MSCI Islamic M-Series97.1% FTSE Shariah28.6% |
| TR Tootsie Roll Industries, Inc. | COMPLIANT | 0.05% | AAOIFI0.2% Usmani0.4% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic0.4% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| NPK National Presto Industries, Inc. | NON_COMPLIANT | 0.05% | AAOIFI0.9% Usmani1.8% Dow Jones Islamic1.2% S&P Shariah1.3% MSCI Islamic1.8% MSCI Islamic M-Series1.3% FTSE Shariah0.0% |
| LZ LegalZoom.com, Inc. | COMPLIANT | 0.05% | AAOIFI1.5% Usmani3.2% Dow Jones Islamic1.1% S&P Shariah1.0% MSCI Islamic3.2% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
| PAHC Phibro Animal Health Corp. | NON_COMPLIANT | 0.05% | AAOIFI43.6% Usmani45.1% Dow Jones Islamic51.7% S&P Shariah64.2% MSCI Islamic45.1% MSCI Islamic M-Series64.2% FTSE Shariah41.3% |
| COLL Collegium Pharmaceutical, Inc. | NON_COMPLIANT | 0.05% | AAOIFI31.8% Usmani11.4% Dow Jones Islamic21.9% S&P Shariah22.5% MSCI Islamic11.4% MSCI Islamic M-Series22.5% FTSE Shariah11.2% |
| Amphastar Pharmaceuticals, Inc. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| FIZZ National Beverage Corp. | COMPLIANT | 0.05% | AAOIFI2.0% Usmani10.1% Dow Jones Islamic1.8% S&P Shariah1.7% MSCI Islamic10.1% MSCI Islamic M-Series1.7% FTSE Shariah0.0% |
| EGBN Eagle Bancorp, Inc. | NON_COMPLIANT | 0.05% | AAOIFI77.6% Usmani6.9% Dow Jones Islamic95.8% S&P Shariah99.4% MSCI Islamic6.9% MSCI Islamic M-Series99.4% FTSE Shariah6.9% |
| AOSL Alpha and Omega Semiconductor Ltd. | COMPLIANT | 0.05% | AAOIFI4.1% Usmani3.3% Dow Jones Islamic3.4% S&P Shariah3.6% MSCI Islamic3.2% MSCI Islamic M-Series3.6% FTSE Shariah0.8% |
| SCHL Scholastic Corp. | NON_COMPLIANT | 0.05% | AAOIFI75.8% Usmani29.3% Dow Jones Islamic55.5% S&P Shariah52.4% MSCI Islamic28.4% MSCI Islamic M-Series52.4% FTSE Shariah10.7% |
| JBG SMITH Properties | UNSCREENED | 0.05% | no in-house ratios for this holding |
| FBRT Franklin BSP Realty Trust, Inc. | NON_COMPLIANT | 0.05% | AAOIFI35.0% Usmani3.9% Dow Jones Islamic32.0% S&P Shariah31.6% MSCI Islamic3.9% MSCI Islamic M-Series31.6% FTSE Shariah3.9% |
| MMI Marcus & Millichap, Inc. | NON_COMPLIANT | 0.05% | AAOIFI7.2% Usmani9.7% Dow Jones Islamic6.2% S&P Shariah6.0% MSCI Islamic9.7% MSCI Islamic M-Series6.0% FTSE Shariah0.0% |
| MTUS Metallus Inc. | COMPLIANT | 0.04% | AAOIFI1.5% Usmani1.3% Dow Jones Islamic1.7% S&P Shariah1.6% MSCI Islamic1.1% MSCI Islamic M-Series1.6% FTSE Shariah0.0% |
| VRRM Verra Mobility Corp. | NON_COMPLIANT | 0.04% | AAOIFI135.4% Usmani67.3% Dow Jones Islamic34.1% S&P Shariah31.6% MSCI Islamic67.3% MSCI Islamic M-Series31.6% FTSE Shariah64.0% |
| MATW Matthews International Corp. | NON_COMPLIANT | 0.04% | AAOIFI95.2% Usmani41.7% Dow Jones Islamic85.0% S&P Shariah80.4% MSCI Islamic41.7% MSCI Islamic M-Series80.4% FTSE Shariah37.7% |
| SAFE Safehold Inc. | NON_COMPLIANT | 0.04% | AAOIFI434.6% Usmani61.9% Dow Jones Islamic408.0% S&P Shariah392.9% MSCI Islamic61.9% MSCI Islamic M-Series392.9% FTSE Shariah61.9% |
| John B. Sanfilippo & Son, Inc. | UNSCREENED | 0.04% | no in-house ratios for this holding |
| AHCO AdaptHealth Corp. | NON_COMPLIANT | 0.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Invesco Government & Agency Portfolio | UNSCREENED | 0.04% | no in-house ratios for this holding |
| Shenandoah Telecommunications Co. | UNSCREENED | 0.04% | no in-house ratios for this holding |
| RES RPC, Inc. | COMPLIANT | 0.03% | AAOIFI1.4% Usmani1.5% Dow Jones Islamic1.6% S&P Shariah1.5% MSCI Islamic1.4% MSCI Islamic M-Series1.5% FTSE Shariah0.0% |
| HTLD Heartland Express, Inc. | COMPLIANT | 0.03% | AAOIFI15.2% Usmani12.5% Dow Jones Islamic17.8% S&P Shariah16.7% MSCI Islamic12.5% MSCI Islamic M-Series16.7% FTSE Shariah11.5% |
| WRLD World Acceptance Corp. | NON_COMPLIANT | 0.03% | AAOIFI67.9% Usmani53.1% Dow Jones Islamic74.1% S&P Shariah74.3% MSCI Islamic53.1% MSCI Islamic M-Series74.3% FTSE Shariah53.1% |
| AMSF AMERISAFE, Inc. | NON_COMPLIANT | 0.03% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Dream Finders Homes, Inc. | UNSCREENED | 0.03% | no in-house ratios for this holding |
| AGNT AGNT, Inc. | COMPLIANT | 0.02% | AAOIFIfail Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| NABL N-able, Inc. | NON_COMPLIANT | 0.02% | AAOIFI54.3% Usmani31.3% Dow Jones Islamic30.9% S&P Shariah25.0% MSCI Islamic31.3% MSCI Islamic M-Series25.0% FTSE Shariah28.1% |
| OABI OmniAb, Inc. | NON_COMPLIANT | 0.00% | AAOIFI3.0% Usmani6.5% Dow Jones Islamic5.9% S&P Shariah4.7% MSCI Islamic6.5% MSCI Islamic M-Series4.7% FTSE Shariah0.0% |
| OABI OmniAb, Inc. | NON_COMPLIANT | 0.00% | AAOIFI3.0% Usmani6.5% Dow Jones Islamic5.9% S&P Shariah4.7% MSCI Islamic6.5% MSCI Islamic M-Series4.7% FTSE Shariah0.0% |
The published standards disagree about this fund by 9 points of portfolio weight — 41.4% of it passes FTSE Shariah, 32.7% 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 36.2% ratios fail on 44.4% 41.1% not rated under AAOIFI
ratios pass on 34.6% ratios fail on 42.3% 44.8% not rated under Usmani
ratios pass on 35.2% ratios fail on 44.8% 41.7% not rated under Dow Jones Islamic
ratios pass on 34.7% ratios fail on 45.0% 41.9% not rated under S&P Shariah
ratios pass on 32.7% ratios fail on 47.7% 41.3% not rated under MSCI Islamic
ratios pass on 34.6% ratios fail on 45.3% 41.7% not rated under MSCI Islamic M-Series
ratios pass on 41.4% ratios fail on 37.7% 42.6% not rated under FTSE Shariah
456 of 533 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, 420 (82% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| VSAT Viasat, Inc. | 0.77% |
| EAT Brinker International, Inc. | 0.62% |
| JXN Jackson Financial Inc. | 0.59% |
| EMN Eastman Chemical Co. | 0.57% |
| PTGX Protagonist Therapeutics, Inc. | 0.53% |
| KMX CarMax, Inc. | 0.52% |
| SM SM Energy Co. | 0.51% |
| LW Lamb Weston Holdings, Inc. | 0.48% |
| LYFT Lyft, Inc. | 0.46% |
| MHK Mohawk Industries, Inc. | 0.45% |
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.
Invesco S&P SmallCap 600 QVM Multi-Factor ETF (QVMS) 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 QVMS — 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) | 63.80 | NEUTRAL |
| Stochastic %K (14) | 100.00 | SELL |
| CCI (20) | 187.95 | SELL |
| Williams %R (14) | 0.00 | SELL |
| MACD (12,26,9) | 0.15 | BUY |
| ROC (10) | 3.90 | BUY |
| Momentum (10) | 1.26 | BUY |
| EMA (10) | 33.01 | BUY |
| SMA (10) | 32.96 | BUY |
| EMA (20) | 32.81 | BUY |
| SMA (20) | 32.59 | BUY |
| EMA (30) | 32.80 | BUY |
| SMA (30) | 32.53 | BUY |
| EMA (50) | 32.92 | BUY |
| SMA (50) | 32.85 | BUY |
| EMA (100) | 32.88 | BUY |
| SMA (100) | 33.58 | BUY |
| EMA (200) | 31.69 | BUY |
| SMA (200) | 32.13 | BUY |
About Invesco S&P SmallCap 600 QVM Multi-Factor ETF
The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, designed to measure the performance of 90% of the stocks within the S&P SmallCap 600® Index, after excluding those with the lowest quality, value and momentum multi-factor score. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider.
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 | 42 |
| ⏲ 5-Min | BULLISH | 42 |
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.