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RYOAXETF / FundBiotechnology Fund

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Sharia status
NOT COMPLIANT
Screened by look-through to its filed holdings — 84% of portfolio weight covered
Fund look-through

Biotechnology Fund · Rydex Series Funds

74 holdings

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 101% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.

NON-COMPLIANT 21.72% of portfolio weight is in non-compliant holdings, over the 5% threshold.

0.59% 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.

74 holdings, 56 matched (84% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.

7.41% of this portfolio’s income is non-permissible — weighted across holdings, computed over 57% of portfolio weight (42 of 74 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.

62.1% compliant 0.0% questionable 21.6% non-compliant 16.4% unscreened

All holdings (74)
HoldingStatusWeightEvery methodology, and the debt ratio behind it
ABBV ABBVIE INC COMPLIANT 8.17% AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail
AMGN AMGEN INC COMPLIANT 5.05% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
GILD GILEAD SCIENCES INC COMPLIANT 4.49% AAOIFI14.4% Usmani53.2% Dow Jones Islamic18.6% S&P Shariah21.4% MSCI Islamic53.2% MSCI Islamic M-Series21.4% FTSE Shariah53.2%
VRTX VERTEX PHARMACEUTICALS INC COMPLIANT 4.32% AAOIFI1.6% Usmani7.2% Dow Jones Islamic1.7% S&P Shariah1.7% MSCI Islamic7.2% MSCI Islamic M-Series1.7% FTSE Shariah0.0%
REGN REGENERON PHARMACEUTICALS INC COMPLIANT 2.93% AAOIFI2.4% Usmani6.5% Dow Jones Islamic3.0% S&P Shariah2.7% MSCI Islamic4.8% MSCI Islamic M-Series2.7% FTSE Shariah4.8%
REVOLUTION MEDICINES INC UNSCREENED 2.48% no in-house ratios for this holding
ALNY ALNYLAM PHARMACEUTICALS INC COMPLIANT 2.36% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
ONC BEONE MEDICINES LTD COMPLIANT 2.17% AAOIFI2.8% Usmani12.5% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic12.5% MSCI Islamic M-Series0.3% FTSE Shariah11.7%
MRNA MODERNA INC NON_COMPLIANT 2.15% AAOIFI2.2% Usmani11.7% Dow Jones Islamic7.4% S&P Shariah5.1% MSCI Islamic11.4% MSCI Islamic M-Series5.1% FTSE Shariah5.4%
BIIB BIOGEN INC COMPLIANT 2.13% AAOIFI21.2% Usmani22.5% Dow Jones Islamic27.5% S&P Shariah24.3% MSCI Islamic22.5% MSCI Islamic M-Series24.3% FTSE Shariah21.3%
NTRA NATERA INC COMPLIANT 2.12% AAOIFI0.5% Usmani9.0% Dow Jones Islamic0.9% S&P Shariah1.2% MSCI Islamic9.0% MSCI Islamic M-Series1.2% FTSE Shariah3.0%
RPRX ROYALTY PHARMA PLC NON_COMPLIANT 2.01% AAOIFI24.4% Usmani45.2% Dow Jones Islamic60.3% S&P Shariah67.3% MSCI Islamic45.2% MSCI Islamic M-Series67.3% FTSE Shariah45.2%
ILMN ILLUMINA INC COMPLIANT 1.94% AAOIFI1.6% Usmani8.1% Dow Jones Islamic2.7% S&P Shariah2.7% MSCI Islamic8.1% MSCI Islamic M-Series2.7% FTSE Shariah0.0%
INSMED INC UNSCREENED 1.79% no in-house ratios for this holding
UTHR UNITED THERAPEUTICS CORP NON_COMPLIANT 1.72% AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
GH GUARDANT HEALTH INC COMPLIANT 1.72% AAOIFI7.8% Usmani88.7% Dow Jones Islamic17.9% S&P Shariah23.1% MSCI Islamic88.7% MSCI Islamic M-Series23.1% FTSE Shariah78.6%
ROIVANT SCIENCES LTD UNSCREENED 1.66% no in-house ratios for this holding
INCY INCYTE CORP COMPLIANT 1.62% AAOIFI0.1% Usmani0.7% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.3% MSCI Islamic M-Series0.1% FTSE Shariah0.0%
VTRS VIATRIS INC NON_COMPLIANT 1.55% AAOIFI65.8% Usmani38.9% Dow Jones Islamic100.2% S&P Shariah105.1% MSCI Islamic38.9% MSCI Islamic M-Series105.1% FTSE Shariah38.1%
NBIX NEUROCRINE BIOSCIENCES INC COMPLIANT 1.52% AAOIFI2.9% Usmani8.6% Dow Jones Islamic3.4% S&P Shariah3.5% MSCI Islamic8.6% MSCI Islamic M-Series3.5% FTSE Shariah0.0%
ARGX ARGENX SE COMPLIANT 1.48% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
JAZZ JAZZ PHARMACEUTICALS PLC COMPLIANT 1.42% AAOIFI31.0% Usmani39.7% Dow Jones Islamic44.2% S&P Shariah48.5% MSCI Islamic39.7% MSCI Islamic M-Series48.5% FTSE Shariah39.3%
BBIO BRIDGEBIO PHARMA INC COMPLIANT 1.38% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
IONS IONIS PHARMACEUTICALS INC NON_COMPLIANT 1.35% AAOIFI21.0% Usmani67.5% Dow Jones Islamic23.0% S&P Shariah25.1% MSCI Islamic67.5% MSCI Islamic M-Series25.1% FTSE Shariah58.8%
CYTK CYTOKINETICS INC NON_COMPLIANT 1.35% AAOIFI3.9% Usmani20.7% Dow Jones Islamic5.9% S&P Shariah6.2% MSCI Islamic20.7% MSCI Islamic M-Series6.2% FTSE Shariah14.3%
EXEL EXELIXIS INC COMPLIANT 1.33% AAOIFI1.2% Usmani6.7% Dow Jones Islamic1.5% S&P Shariah1.7% MSCI Islamic6.7% MSCI Islamic M-Series1.7% FTSE Shariah0.0%
ALKS ALKERMES PLC COMPLIANT 1.31% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
ARWR ARROWHEAD PHARMACEUTICALS INC COMPLIANT 1.25% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
BMRN BIOMARIN PHARMACEUTICAL INC NON_COMPLIANT 1.24% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
AZN ASTRAZENECA PLC COMPLIANT 1.23% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
HALO HALOZYME THERAPEUTICS INC COMPLIANT 1.17% AAOIFI17.2% Usmani83.3% Dow Jones Islamic27.4% S&P Shariah30.4% MSCI Islamic83.3% MSCI Islamic M-Series30.4% FTSE Shariah83.3%
22UA.DE BIONTECH SE NON_COMPLIANT 1.16% AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
CRSP CRISPR THERAPEUTICS AG NON_COMPLIANT 1.16% AAOIFI15.5% Usmani29.6% Dow Jones Islamic17.0% S&P Shariah16.8% MSCI Islamic29.6% MSCI Islamic M-Series16.8% FTSE Shariah22.1%
VAXCYTE INC UNSCREENED 1.16% no in-house ratios for this holding
TGTX TG THERAPEUTICS INC COMPLIANT 1.08% AAOIFI8.8% Usmani46.0% Dow Jones Islamic13.7% S&P Shariah17.0% MSCI Islamic46.0% MSCI Islamic M-Series17.0% FTSE Shariah45.5%
MEDP MEDPACE HOLDINGS INC COMPLIANT 1.03% AAOIFIpass Usmani— Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariah—
APOGEE THERAPEUTICS INC UNSCREENED 1.02% no in-house ratios for this holding
COGENT BIOSCIENCES INC UNSCREENED 1.00% no in-house ratios for this holding
TWST TWIST BIOSCIENCE CORP COMPLIANT 0.98% AAOIFI1.1% Usmani13.9% Dow Jones Islamic3.2% S&P Shariah3.5% MSCI Islamic13.9% MSCI Islamic M-Series3.5% FTSE Shariah0.0%
PTCT PTC THERAPEUTICS INC NON_COMPLIANT 0.98% AAOIFI11.9% Usmani21.4% Dow Jones Islamic16.9% S&P Shariah20.0% MSCI Islamic21.2% MSCI Islamic M-Series20.0% FTSE Shariah18.2%
SCHOLAR ROCK HOLDING CORP UNSCREENED 0.98% no in-house ratios for this holding
NUVALENT INC UNSCREENED 0.98% no in-house ratios for this holding
AXSM AXSOME THERAPEUTICS INC COMPLIANT 0.96% AAOIFI1.9% Usmani29.5% Dow Jones Islamic2.9% S&P Shariah3.5% MSCI Islamic27.6% MSCI Islamic M-Series3.5% FTSE Shariah24.7%
CG ONCOLOGY INC UNSCREENED 0.96% no in-house ratios for this holding
KRYS KRYSTAL BIOTECH INC NON_COMPLIANT 0.93% AAOIFI0.1% Usmani0.6% Dow Jones Islamic0.1% S&P Shariah0.2% MSCI Islamic0.6% MSCI Islamic M-Series0.2% FTSE Shariah0.0%
VIKING THERAPEUTICS INC UNSCREENED 0.90% no in-house ratios for this holding
TVTX TRAVERE THERAPEUTICS INC COMPLIANT 0.90% AAOIFI10.0% Usmani77.2% Dow Jones Islamic24.4% S&P Shariah32.6% MSCI Islamic77.2% MSCI Islamic M-Series32.6% FTSE Shariah75.4%
PTGX PROTAGONIST THERAPEUTICS INC NON_COMPLIANT 0.89% AAOIFI0.1% Usmani1.0% Dow Jones Islamic0.2% S&P Shariah0.3% MSCI Islamic1.0% MSCI Islamic M-Series0.3% FTSE Shariah0.0%
ASND ASCENDIS PHARMA A/S COMPLIANT 0.89% AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
VCYT VERACYTE INC COMPLIANT 0.88% AAOIFI1.1% Usmani2.7% Dow Jones Islamic1.4% S&P Shariah1.6% MSCI Islamic2.7% MSCI Islamic M-Series1.6% FTSE Shariah0.0%
LQDA LIQUIDIA CORP COMPLIANT 0.86% AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
KYMR KYMERA THERAPEUTICS INC NON_COMPLIANT 0.83% AAOIFI0.8% Usmani4.8% Dow Jones Islamic1.7% S&P Shariah2.1% MSCI Islamic4.6% MSCI Islamic M-Series2.1% FTSE Shariah0.0%
MDGL MADRIGAL PHARMACEUTICALS INC COMPLIANT 0.79% AAOIFI2.8% Usmani27.9% Dow Jones Islamic3.8% S&P Shariah4.6% MSCI Islamic27.9% MSCI Islamic M-Series4.6% FTSE Shariah27.4%
RARE ULTRAGENYX PHARMACEUTICAL INC NON_COMPLIANT 0.77% AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
BEAM BEAM THERAPEUTICS INC NON_COMPLIANT 0.74% AAOIFI8.2% Usmani17.8% Dow Jones Islamic10.4% S&P Shariah10.7% MSCI Islamic17.8% MSCI Islamic M-Series10.7% FTSE Shariah7.2%
IMMUNITYBIO INC UNSCREENED 0.74% no in-house ratios for this holding
MIRM MIRUM PHARMACEUTICALS INC COMPLIANT 0.74% AAOIFI11.6% Usmani73.0% Dow Jones Islamic20.3% S&P Shariah25.7% MSCI Islamic73.0% MSCI Islamic M-Series25.7% FTSE Shariah71.8%
PRAXIS PRECISION MEDICINES INC UNSCREENED 0.72% no in-house ratios for this holding
RYTM RHYTHM PHARMACEUTICALS INC NON_COMPLIANT 0.71% AAOIFI1.6% Usmani25.1% Dow Jones Islamic2.0% S&P Shariah2.5% MSCI Islamic25.1% MSCI Islamic M-Series2.5% FTSE Shariah24.3%
ACAD ACADIA PHARMACEUTICALS INC COMPLIANT 0.71% AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
NTLA INTELLIA THERAPEUTICS INC NON_COMPLIANT 0.65% AAOIFI4.1% Usmani8.6% Dow Jones Islamic5.1% S&P Shariah4.1% MSCI Islamic8.6% MSCI Islamic M-Series4.1% FTSE Shariah0.0%
ARQT ARCUTIS BIOTHERAPEUTICS INC COMPLIANT 0.63% AAOIFI3.8% Usmani23.4% Dow Jones Islamic5.0% S&P Shariah6.5% MSCI Islamic23.4% MSCI Islamic M-Series6.5% FTSE Shariah22.3%
DREYFUS TREASURY OBLIGATIONS CASH MANAGEMENT NON_COMPLIANT 0.59% no in-house ratios for this holding
RXRX RECURSION PHARMACEUTICALS INC NON_COMPLIANT 0.55% AAOIFI3.4% Usmani5.5% Dow Jones Islamic7.3% S&P Shariah6.1% MSCI Islamic5.5% MSCI Islamic M-Series6.1% FTSE Shariah1.2%
SAREPTA THERAPEUTICS INC UNSCREENED 0.54% no in-house ratios for this holding
SUMMIT THERAPEUTICS INC UNSCREENED 0.53% no in-house ratios for this holding
LEGN LEGEND BIOTECH CORP COMPLIANT 0.50% AAOIFI8.8% Usmani18.4% Dow Jones Islamic2.9% S&P Shariah2.3% MSCI Islamic18.4% MSCI Islamic M-Series2.3% FTSE Shariah18.4%
ADMA ADMA BIOLOGICS INC COMPLIANT 0.50% AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass
CELCUITY INC UNSCREENED 0.45% no in-house ratios for this holding
GRAL GRAIL INC NON_COMPLIANT 0.38% AAOIFI2.5% Usmani3.2% Dow Jones Islamic4.7% S&P Shariahfail MSCI Islamic3.2% MSCI Islamic M-Seriesfail FTSE Shariah0.0%
J.P. MORGAN SECURITIES LLC UNSCREENED 0.30% no in-house ratios for this holding
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED UNSCREENED 0.30% no in-house ratios for this holding
Akero Therapeutics Inc UNSCREENED 0.00% no in-house ratios for this holding
SNY SANOFI SA - CVR COMPLIANT 0.00% AAOIFI20.8% Usmani14.7% Dow Jones Islamic38.1% S&P Shariah38.6% MSCI Islamic14.7% MSCI Islamic M-Series38.6% FTSE Shariah14.7%

The published standards disagree about this fund by 35 points of portfolio weight — 43.3% of it passes AAOIFI, 7.9% 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 43.3% ratios fail on 18.4% 39.1% not rated under AAOIFI

55 of 74 listed holdings carry our own per-methodology verdicts (84% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 41 (56% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.

Non-compliant holdingWeight
MRNA MODERNA INC 2.15%
RPRX ROYALTY PHARMA PLC 2.01%
UTHR UNITED THERAPEUTICS CORP 1.72%
VTRS VIATRIS INC 1.55%
IONS IONIS PHARMACEUTICALS INC 1.35%
CYTK CYTOKINETICS INC 1.35%
BMRN BIOMARIN PHARMACEUTICAL INC 1.24%
22UA.DE BIONTECH SE 1.16%
CRSP CRISPR THERAPEUTICS AG 1.16%
PTCT PTC THERAPEUTICS INC 0.98%
🕌Open research, not a fatwa — verify with your own scholar.

Trade setup

Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.

SEPARATE FROM SHARIAH
No trade setup shown — a stock that isn't cleanly Sharia-compliant never gets a bullish verdict here.

Biotechnology Fund (RYOAX) 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.

62.6%Compliant 21.7%Non-compliant 16.5%Not screened
HoldingWeightVerdict
ABBVABBVIE INC 8.17% Compliant
AMGNAMGEN INC 5.05% Compliant
GILDGILEAD SCIENCES INC 4.49% Compliant
VRTXVERTEX PHARMACEUTICALS INC 4.32% Compliant
REGNREGENERON PHARMACEUTICALS INC 2.93% Compliant
REVOLUTION MEDICINES INCnot matched to a ticker 2.48% Not screened
ALNYALNYLAM PHARMACEUTICALS INC 2.36% Compliant
ONCBEONE MEDICINES LTD 2.17% Compliant
MRNAMODERNA INC 2.15% Non-compliant
BIIBBIOGEN INC 2.13% Compliant

Top 10 of 74 holdings, 36.2% 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.

  • REVOLUTION MEDICINES INCnot screened2.48%
  • MRNAnon-compliant2.15%
  • RPRXnon-compliant2.01%
  • INSMED INCnot screened1.79%
  • UTHRnon-compliant1.72%
  • ROIVANT SCIENCES LTDnot screened1.66%

What changed, and when

Verdict history for RYOAX. 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 RYOAX 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 2 days - this is not a reading of today

76.2870.2664.2558.2352.212025-10-142026-04-152026-10-13

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Support & Resistance

This fund prices once a day, so its bars carry no intraday high or low — floor-trader pivots are not defined for it.

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.

7-day expected range
70.60 – 74.36
±2.59% from 72.48, made 2026-09-15 · resolves 2026-09-22
BUY
from 19 indicators
61.9% of our last 5789 forecasts landed inside their stated range, and 49.9% called the direction correctly.

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.

STRONG SELL
19 indicators
OscillatorsSTRONG SELL
0 buy · 4 neutral · 3 sell
Moving averagesSELL
5 buy · 0 neutral · 7 sell
Every indicator, and what it reads
IndicatorValueSignal
RSI (14)47.80NEUTRAL
Stochastic %K (14)41.49NEUTRAL
CCI (20)-50.60NEUTRAL
Williams %R (14)-58.51NEUTRAL
MACD (12,26,9)-0.16SELL
ROC (10)-2.43SELL
Momentum (10)-1.79SELL
EMA (10)72.09SELL
SMA (10)71.99SELL
EMA (20)72.37SELL
SMA (20)72.61SELL
EMA (30)72.35SELL
SMA (30)72.78SELL
EMA (50)71.72BUY
SMA (50)72.52SELL
EMA (100)69.33BUY
SMA (100)69.12BUY
EMA (200)65.04BUY
SMA (200)64.22BUY

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.

No usable intraday or daily bars came back for this listing, so there is no structure to read.

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.

Tell us what's working, what's confusing, or what you want to see next — read by a real person, not a form that goes nowhere.