Verdicts genuinely change. Free email alert the moment RISE'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.
Pictet Emerging Markets Rising Economies ETF · 2023 ETF Series Trust
76 holdings · as of 2026-06-30 (3.6 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.
NON-COMPLIANT At least 6.89% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 88% turns out to be. Matching more holdings can only raise this share, never lower it.
76 holdings, 5 matched (10% of weight). Portfolio as of 2026-06-30, filed 2026-08-31. Source: SEC Form N-PORT.
0.57% of this portfolio’s income is non-permissible — weighted across holdings, computed over 4% of portfolio weight (3 of 76 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.
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| FRANKLIN FTSE INDIA ETF | UNSCREENED | 5.01% | no in-house ratios for this holding |
| FIRST TRUST INDIA NIFTY 50 E | UNSCREENED | 4.98% | no in-house ratios for this holding |
| ISHARES INDIA 50 ETF | UNSCREENED | 4.93% | no in-house ratios for this holding |
| BAP CREDICORP LTD | NON_COMPLIANT | 3.62% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GRUPO FINANCIERO BANORTE /MXN/ | UNSCREENED | 3.28% | no in-house ratios for this holding |
| HDFCBANK.NS HDFC BANK LTD-ADR | NON_COMPLIANT | 2.78% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NASPERS LTD-N SHS /ZAR/ | UNSCREENED | 2.69% | no in-house ratios for this holding |
| GOLD FIELDS LTD /ZAR/ | UNSCREENED | 2.68% | no in-house ratios for this holding |
| AMERICA MOVIL SAB DE C-S /MXN/ | UNSCREENED | 2.51% | no in-house ratios for this holding |
| ITAU UNIBANCO HOLDING S- /BRL/ | UNSCREENED | 2.41% | no in-house ratios for this holding |
| STANDARD BANK GROUP LTD /ZAR/ | UNSCREENED | 2.37% | no in-house ratios for this holding |
| CIMB GROUP HOLDINGS BERHAD /MYR/ | UNSCREENED | 2.34% | no in-house ratios for this holding |
| EMAAR PROPERTIES PJSC /AED/ | UNSCREENED | 2.33% | no in-house ratios for this holding |
| INFY INFOSYS LIMITED | COMPLIANT | 2.33% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| NAC KAZATOMPROM JSC-GDR REGS | UNSCREENED | 2.28% | no in-house ratios for this holding |
| QUIMICA Y MINERA CHIL-SP ADR | UNSCREENED | 2.24% | no in-house ratios for this holding |
| THE SAUDI NATIONAL BANK /SAR/ | UNSCREENED | 2.24% | no in-house ratios for this holding |
| BANCO BTG PACTUAL SA-UNI /BRL/ | UNSCREENED | 2.22% | no in-house ratios for this holding |
| PETROBRAS - PETROLEO BRA /BRL/ | UNSCREENED | 1.91% | no in-house ratios for this holding |
| ABSA GROUP LTD /ZAR/ | UNSCREENED | 1.88% | no in-house ratios for this holding |
| INTL CONTAINER TERM SVCS /PHP/ | UNSCREENED | 1.75% | no in-house ratios for this holding |
| ANGLOGOLD ASHANTI PLC /ZAR/ | UNSCREENED | 1.72% | no in-house ratios for this holding |
| VALTERRA PLATINUM LIMITE /ZAR/ | UNSCREENED | 1.62% | no in-house ratios for this holding |
| ALLOS SA /BRL/ | UNSCREENED | 1.46% | no in-house ratios for this holding |
| MARCOPOLO SA-PREF /BRL/ | UNSCREENED | 1.46% | no in-house ratios for this holding |
| BANCO SANTANDER BRASIL- /BRL/ | UNSCREENED | 1.34% | no in-house ratios for this holding |
| BANCO BRADESCO SA-PREF /BRL/ | UNSCREENED | 1.31% | no in-house ratios for this holding |
| MOBILE WORLD INVESTMENT /VND/ | UNSCREENED | 1.22% | no in-house ratios for this holding |
| PRIO SA /BRL/ | UNSCREENED | 1.20% | no in-house ratios for this holding |
| HALYK SAVINGS BANK GDR | UNSCREENED | 1.18% | no in-house ratios for this holding |
| HARMONY GOLD MINING CO L /ZAR/ | UNSCREENED | 1.06% | no in-house ratios for this holding |
| ALDAR PROPERTIES PJSC /AED/ | UNSCREENED | 1.02% | no in-house ratios for this holding |
| YPF S.A.-SPONSORED ADR | UNSCREENED | 1.01% | no in-house ratios for this holding |
| WIT WIPRO LTD-ADR | COMPLIANT | 1.00% | AAOIFI9.7% Usmani12.6% Dow Jones Islamic6.7% S&P Shariah6.7% MSCI Islamic12.6% MSCI Islamic M-Series6.7% FTSE Shariah12.6% |
| B3 SA-BRASIL BOLSA BALCA /BRL/ | UNSCREENED | 0.98% | no in-house ratios for this holding |
| INDUSTRIAS PENOLES SAB DE CV /MXN/ | UNSCREENED | 0.98% | no in-house ratios for this holding |
| VIETNAM PROSPERITY JSC B /VND/ | UNSCREENED | 0.91% | no in-house ratios for this holding |
| MILITARY COMMERCIAL JOIN /VND/ | UNSCREENED | 0.90% | no in-house ratios for this holding |
| GRUPO AEROPORT DEL PACIF /MXN/ | UNSCREENED | 0.89% | no in-house ratios for this holding |
| IMPALA PLATINUM HOLDINGS /ZAR/ | UNSCREENED | 0.86% | no in-house ratios for this holding |
| FRESNILLO PLC /GBP/ | UNSCREENED | 0.84% | no in-house ratios for this holding |
| GRUPO CIBEST SA /COP/ | UNSCREENED | 0.80% | no in-house ratios for this holding |
| CAIXA SEGURIDADE PARTICI /BRL/ | UNSCREENED | 0.80% | no in-house ratios for this holding |
| BIM BIRLESIK MAGAZALAR A /TRY/ | UNSCREENED | 0.77% | no in-house ratios for this holding |
| SASOL LTD /ZAR/ | UNSCREENED | 0.72% | no in-house ratios for this holding |
| SHOPRITE HOLDINGS LTD /ZAR/ | UNSCREENED | 0.70% | no in-house ratios for this holding |
| AKBANK T.A.S. /TRY/ | UNSCREENED | 0.64% | no in-house ratios for this holding |
| BB SEGURIDADE PARTICIPAC /BRL/ | UNSCREENED | 0.60% | no in-house ratios for this holding |
| MOBILE TELECOMMUNICATION /KWD/ | UNSCREENED | 0.57% | no in-house ratios for this holding |
| TRUST FIBRA UNO /MXN/ | UNSCREENED | 0.56% | no in-house ratios for this holding |
| SIBANYE STILLWATER LTD /ZAR/ | UNSCREENED | 0.55% | no in-house ratios for this holding |
| COMPANHIA PARANAENSE DE /BRL/ | UNSCREENED | 0.54% | no in-house ratios for this holding |
| LOCALIZA RENT A CAR /BRL/ | UNSCREENED | 0.54% | no in-house ratios for this holding |
| REDE D'OR SAO LUIZ SA /BRL/ | UNSCREENED | 0.53% | no in-house ratios for this holding |
| ENEVA SA /BRL/ | UNSCREENED | 0.52% | no in-house ratios for this holding |
| HOA PHAT GROUP JSC /VND/ | UNSCREENED | 0.52% | no in-house ratios for this holding |
| SABESP ON /BRL/ | UNSCREENED | 0.50% | no in-house ratios for this holding |
| XP XP INC - CLASS A | NON_COMPLIANT | 0.50% | AAOIFI15.5% Usmani0.5% Dow Jones Islamic3.1% S&P Shariah2.9% MSCI Islamic0.5% MSCI Islamic M-Series2.9% FTSE Shariah0.5% |
| TUPRAS-TURKIYE PETROL RA /TRY/ | UNSCREENED | 0.48% | no in-house ratios for this holding |
| BIDVEST GROUP LTD /ZAR/ | UNSCREENED | 0.48% | no in-house ratios for this holding |
| VIBRA ENERGIA SA /BRL/ | UNSCREENED | 0.47% | no in-house ratios for this holding |
| OOREDOO QPSC /QAR/ | UNSCREENED | 0.45% | no in-house ratios for this holding |
| EMIRATES INTEGRATED TELE /AED/ | UNSCREENED | 0.44% | no in-house ratios for this holding |
| NORTHAM PLATINUM HOLDING /ZAR/ | UNSCREENED | 0.41% | no in-house ratios for this holding |
| PAMPA ENERGIA SA | UNSCREENED | 0.39% | no in-house ratios for this holding |
| JARIR MARKETING CO /SAR/ | UNSCREENED | 0.38% | no in-house ratios for this holding |
| HDBANK /VND/ | UNSCREENED | 0.34% | no in-house ratios for this holding |
| ABU DHABI NATIONAL OIL C /AED/ | UNSCREENED | 0.31% | no in-house ratios for this holding |
| YAPI VE KREDI BANKASI /TRY/ | UNSCREENED | 0.31% | no in-house ratios for this holding |
| TOTVS SA /BRL/ | UNSCREENED | 0.30% | no in-house ratios for this holding |
| CLICKS HOLDINGS LTD /ZAR/ | UNSCREENED | 0.29% | no in-house ratios for this holding |
| GENTERA SAB DE CV /MXN/ | UNSCREENED | 0.28% | no in-house ratios for this holding |
| MASAN GROUP CORP /VND/ | UNSCREENED | 0.26% | no in-house ratios for this holding |
| TIM SA /BRL/ | UNSCREENED | 0.26% | no in-house ratios for this holding |
| EMAAR DEVELOPMENT PJSC /AED/ | UNSCREENED | 0.26% | no in-house ratios for this holding |
| PAN AFRICAN RESOURCES PL /GBP/ | UNSCREENED | 0.19% | no in-house ratios for this holding |
All 7 published standards agree about this fund to within 0.0 points of portfolio weight.
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 0.0% ratios fail on 7.9% 90.5% not rated under AAOIFI
ratios pass on 0.0% ratios fail on 7.9% 90.5% not rated under Usmani
ratios pass on 0.0% ratios fail on 6.9% 91.5% not rated under Dow Jones Islamic
ratios pass on 0.0% ratios fail on 6.9% 91.5% not rated under S&P Shariah
ratios pass on 0.0% ratios fail on 7.9% 90.5% not rated under MSCI Islamic
ratios pass on 0.0% ratios fail on 6.9% 91.5% not rated under MSCI Islamic M-Series
ratios pass on 0.0% ratios fail on 7.9% 90.5% not rated under FTSE Shariah
5 of 76 listed holdings carry our own per-methodology verdicts (10% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 3 (4% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| BAP CREDICORP LTD | 3.62% |
| HDFCBANK.NS HDFC BANK LTD-ADR | 2.78% |
| XP XP INC - CLASS A | 0.50% |
Methodology breakdown computing — it will appear here on its own.
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
Pictet Emerging Markets Rising Economies ETF (RISE) 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.
Computing the full ratio and business-activity breakdown for RISE — 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
Not enough completed daily bars to compute pivots.
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.
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.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 54.40 | NEUTRAL |
| Stochastic %K (14) | 97.89 | SELL |
| CCI (20) | 72.11 | NEUTRAL |
| Williams %R (14) | -2.11 | SELL |
| MACD (12,26,9) | 0.06 | BUY |
| ROC (10) | 4.03 | BUY |
| Momentum (10) | 0.73 | BUY |
| EMA (10) | 18.68 | BUY |
| SMA (10) | 18.68 | BUY |
| EMA (20) | 18.67 | BUY |
| SMA (20) | 18.57 | BUY |
| EMA (30) | 18.69 | BUY |
| SMA (30) | 18.75 | BUY |
| EMA (50) | 18.70 | BUY |
| SMA (50) | 18.84 | BUY |
| EMA (100) | 18.61 | BUY |
| SMA (100) | 18.53 | BUY |
| EMA (200) | 18.61 | BUY |
Under normal market conditions, the fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in securities of issuers located in emerging market countries.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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 | 43 |
| ⏲ 5-Min | BULLISH | 44 |
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.
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.
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.
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
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 2026-10-13 · Asset managers net 915835 (+9220)
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.