Verdicts genuinely change. Free email alert the moment RLEOX'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.
Lazard Emerging Markets Core Equity Portfolio · LAZARD FUNDS INC
72 holdings
NON-COMPLIANT 31.41% of portfolio weight is in non-compliant holdings, over the 5% threshold.
72 holdings, 60 matched (91% of weight). Portfolio as of 2025-09-30, filed 2025-11-24. Source: SEC Form N-PORT.
6.27% of this portfolio’s income is non-permissible — weighted across holdings, computed over 78% of portfolio weight (51 of 72 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.
59.9% compliant 0.0% questionable 31.3% non-compliant 8.8% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| 0700.HK Tencent Holdings Ltd | COMPLIANT | 7.01% | AAOIFIpass Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| TSM Taiwan Semiconductor Manufacturing Co Ltd | COMPLIANT | 6.74% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| TSM Taiwan Semiconductor Manufacturing Co Ltd | COMPLIANT | 6.38% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| BABA Alibaba Group Holding Ltd | COMPLIANT | 5.28% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| 005930.KS Samsung Electronics Co Ltd | COMPLIANT | 4.22% | AAOIFI1.4% Usmani5.3% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic4.5% MSCI Islamic M-Seriespass FTSE Shariah4.5% |
| 3968.HK China Merchants Bank Co Ltd | NON_COMPLIANT | 3.42% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HDFCBANK.NS HDFC Bank Ltd | NON_COMPLIANT | 2.20% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 300750.SZ Contemporary Amperex Technology Co Ltd | COMPLIANT | 2.18% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 000660.KS SK Hynix Inc | COMPLIANT | 1.94% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 055550.KS Shinhan Financial Group Co Ltd | NON_COMPLIANT | 1.88% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BHARTIARTL.BO Bharti Airtel Ltd | COMPLIANT | 1.77% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| ICICIBANK.NS ICICI Bank Ltd | NON_COMPLIANT | 1.73% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0992.HK Lenovo Group Ltd | COMPLIANT | 1.68% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| AAL.L Anglo American PLC | COMPLIANT | 1.60% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ETE.AT National Bank of Greece SA | NON_COMPLIANT | 1.56% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 2454.TW MediaTek Inc | COMPLIANT | 1.48% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| RELIANCE.NS Reliance Industries Ltd | COMPLIANT | 1.41% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 2222.SR Saudi Arabian Oil Co | COMPLIANT | 1.40% | AAOIFI5.8% Usmani16.9% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic14.2% MSCI Islamic M-Seriespass FTSE Shariah14.2% |
| 1801.HK Innovent Biologics Inc | COMPLIANT | 1.38% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 300124.SZ Shenzhen Inovance Technology Co Ltd | COMPLIANT | 1.38% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| ITUB3.SA Itau Unibanco Holding SA | NON_COMPLIANT | 1.32% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 1810.HK Xiaomi Corp | COMPLIANT | 1.31% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 9961.HK Trip.com Group Ltd | NON_COMPLIANT | 1.30% | AAOIFIfail Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| EMAAR.AE Emaar Properties PJSC | NON_COMPLIANT | 1.27% | AAOIFI10.8% Usmani6.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic5.7% MSCI Islamic M-Seriesfail FTSE Shariah5.7% |
| BPAC11.SA Banco BTG Pactual SA | NON_COMPLIANT | 1.25% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 2345.TW Accton Technology Corp | COMPLIANT | 1.23% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| Grupo Financiero Banorte SAB de CV | UNSCREENED | 1.22% | no in-house ratios for this holding |
| Adnoc Gas PLC | UNSCREENED | 1.22% | no in-house ratios for this holding |
| 000270.KS Kia Corp | NON_COMPLIANT | 1.20% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 1180.SR Saudi National Bank/The | NON_COMPLIANT | 1.16% | AAOIFI53.1% Usmani11.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic11.0% MSCI Islamic M-Seriesfail FTSE Shariah11.0% |
| TOTVS SA | UNSCREENED | 1.13% | no in-house ratios for this holding |
| BAP Credicorp Ltd | NON_COMPLIANT | 1.09% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| INDIGO.NS InterGlobe Aviation Ltd | NON_COMPLIANT | 1.08% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GEKTERNA.AT GEK TERNA SA | NON_COMPLIANT | 1.08% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| LODHA.NS Lodha Developers Ltd | COMPLIANT | 1.07% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| Coway Co Ltd | UNSCREENED | 1.06% | no in-house ratios for this holding |
| International Container Terminal Services Inc | UNSCREENED | 1.04% | no in-house ratios for this holding |
| YMM Full Truck Alliance Co Ltd | NON_COMPLIANT | 1.01% | AAOIFI0.3% Usmani0.1% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.1% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| SHP.JO Shoprite Holdings Ltd | NON_COMPLIANT | 0.95% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Capitec Bank Holdings Ltd | UNSCREENED | 0.93% | no in-house ratios for this holding |
| MELI MercadoLibre Inc | COMPLIANT | 0.93% | AAOIFI20.1% Usmani38.5% Dow Jones Islamic19.0% S&P Shariah20.6% MSCI Islamic38.3% MSCI Islamic M-Series20.6% FTSE Shariah33.3% |
| ITC.NS ITC Ltd | NON_COMPLIANT | 0.93% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| UL Unilever PLC | COMPLIANT | 0.93% | AAOIFI27.6% Usmani41.0% Dow Jones Islamic23.6% S&P Shariah24.9% MSCI Islamic39.2% MSCI Islamic M-Series24.9% FTSE Shariah39.2% |
| YUMC Yum China Holdings Inc | NON_COMPLIANT | 0.92% | AAOIFI15.1% Usmani21.2% Dow Jones Islamic13.5% S&P Shariah13.7% MSCI Islamic20.7% MSCI Islamic M-Series13.7% FTSE Shariah0.6% |
| HINDALCO.NS Hindalco Industries Ltd | NON_COMPLIANT | 0.88% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| JMT.LS Jeronimo Martins SGPS SA | NON_COMPLIANT | 0.85% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| SE Sea Ltd | COMPLIANT | 0.84% | AAOIFI3.7% Usmani8.8% Dow Jones Islamic3.3% S&P Shariah4.1% MSCI Islamic8.6% MSCI Islamic M-Series4.1% FTSE Shariah3.6% |
| 2338.HK Weichai Power Co Ltd | NON_COMPLIANT | 0.83% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| KIMBERA.MX Kimberly-Clark de Mexico SAB de CV | COMPLIANT | 0.82% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| Fixed Income Clearing Corp | UNSCREENED | 0.78% | no in-house ratios for this holding |
| BBCA.JK Bank Central Asia Tbk PT | NON_COMPLIANT | 0.77% | AAOIFI0.3% Usmani0.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic0.2% MSCI Islamic M-Seriesfail FTSE Shariah0.2% |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd | UNSCREENED | 0.77% | no in-house ratios for this holding |
| MMYT MakeMyTrip Ltd | NON_COMPLIANT | 0.77% | AAOIFI4.7% Usmani12.9% Dow Jones Islamic3.0% S&P Shariah3.3% MSCI Islamic12.9% MSCI Islamic M-Series3.3% FTSE Shariah12.9% |
| POLYCAB.NS Polycab India Ltd | COMPLIANT | 0.77% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| THERMAX.NS Thermax Ltd | COMPLIANT | 0.76% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| ASX ASE Technology Holding Co Ltd | COMPLIANT | 0.74% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| LT.NS Larsen & Toubro Ltd | COMPLIANT | 0.73% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| TCS.NS Tata Consultancy Services Ltd | COMPLIANT | 0.72% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 1211.HK BYD Co Ltd | COMPLIANT | 0.72% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| SUPREMEIND.BO Supreme Industries Ltd | COMPLIANT | 0.72% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| BELA.AT JUMBO SA | COMPLIANT | 0.69% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| AC.MX Arca Continental SAB de CV | COMPLIANT | 0.68% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| VESTA.MX Corp Inmobiliaria Vesta SAB de CV | NON_COMPLIANT | 0.67% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| BVT.JO Bidvest Group Ltd | NON_COMPLIANT | 0.62% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BDO Unibank Inc | UNSCREENED | 0.62% | no in-house ratios for this holding |
| WELSPUNLIV.BO Welspun Living Ltd | COMPLIANT | 0.56% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| KOS Kosmos Energy Ltd | NON_COMPLIANT | 0.39% | AAOIFI162.1% Usmani62.3% Dow Jones Islamic221.3% S&P Shariah151.6% MSCI Islamic62.3% MSCI Islamic M-Series151.6% FTSE Shariah62.0% |
| GGAL Grupo Financiero Galicia SA | NON_COMPLIANT | 0.23% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ITCHOTELS.NS ITC Hotels Ltd | NON_COMPLIANT | 0.05% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| State Street Global Advisors | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Sberbank of Russia PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Mobile TeleSystems PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 29 points of portfolio weight — 55.8% of it passes AAOIFI, 26.8% 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 55.8% ratios fail on 35.0% 9.6% not rated under AAOIFI
ratios pass on 28.2% ratios fail on 49.4% 22.8% not rated under Usmani
ratios pass on 46.8% ratios fail on 31.7% 21.9% not rated under Dow Jones Islamic
ratios pass on 46.8% ratios fail on 31.7% 21.9% not rated under S&P Shariah
ratios pass on 26.8% ratios fail on 50.8% 22.8% not rated under MSCI Islamic
ratios pass on 46.8% ratios fail on 31.7% 21.9% not rated under MSCI Islamic M-Series
ratios pass on 29.8% ratios fail on 47.8% 22.8% not rated under FTSE Shariah
59 of 72 listed holdings carry our own per-methodology verdicts (92% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 14 (33% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| 3968.HK China Merchants Bank Co Ltd | 3.42% |
| HDFCBANK.NS HDFC Bank Ltd | 2.20% |
| 055550.KS Shinhan Financial Group Co Ltd | 1.88% |
| ICICIBANK.NS ICICI Bank Ltd | 1.73% |
| ETE.AT National Bank of Greece SA | 1.56% |
| ITUB3.SA Itau Unibanco Holding SA | 1.32% |
| 9961.HK Trip.com Group Ltd | 1.30% |
| EMAAR.AE Emaar Properties PJSC | 1.27% |
| BPAC11.SA Banco BTG Pactual SA | 1.25% |
| 000270.KS Kia Corp | 1.20% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Lazard Emerging Markets Core Equity Portfolio (RLEOX) 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.
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 |
|---|---|---|
| 0700.HKTencent Holdings Ltd | 7.01% | Compliant |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | 6.74% | Compliant |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | 6.38% | Compliant |
| BABAAlibaba Group Holding Ltd | 5.28% | Compliant |
| 005930.KSSamsung Electronics Co Ltd | 4.22% | Compliant |
| 3968.HKChina Merchants Bank Co Ltd | 3.42% | Non-compliant |
| HDFCBANK.NSHDFC Bank Ltd | 2.20% | Non-compliant |
| 300750.SZContemporary Amperex Technology Co Ltd | 2.18% | Compliant |
| 000660.KSSK Hynix Inc | 1.94% | Compliant |
| 055550.KSShinhan Financial Group Co Ltd | 1.88% | Non-compliant |
Top 10 of 72 holdings, 41.3% of the fund by weight. Every holding is screened, not only these.
The positions keeping this fund short of 100% compliant by weight.
Verdict history for RLEOX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
ℹ️ no compliance scan has run for 2 days - this is not a reading of today
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
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.
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.