RYWVXETF / FundEmerging Markets 2x Strategy Fund
Verdicts genuinely change. Free email alert the moment RYWVX'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.
Emerging Markets 2x Strategy Fund · Rydex Series Funds
54 holdings
NON-COMPLIANT 42.89% of portfolio weight is in non-compliant holdings, over the 5% threshold.
18.44% 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.
54 holdings, 48 matched (93% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.
6.41% of this portfolio’s income is non-permissible — weighted across holdings, computed over 55% of portfolio weight (36 of 54 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.
27.6% compliant 0.0% questionable 42.9% non-compliant 5.3% unscreened
All holdings (54)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | NON_COMPLIANT | 14.73% | no in-house ratios for this holding |
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | COMPLIANT | 12.19% | 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 | 6.88% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| DREYFUS TREASURY OBLIGATIONS CASH MANAGEMENT | NON_COMPLIANT | 3.70% | no in-house ratios for this holding |
| HDFCBANK.NS HDFC BANK LTD | NON_COMPLIANT | 2.93% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ASX ASE TECHNOLOGY HOLDING CO LTD | COMPLIANT | 2.37% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| ICICIBANK.NS ICICI BANK LTD | NON_COMPLIANT | 2.30% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GOLDMAN SACHS INTERNATIONAL | UNSCREENED | 2.18% | no in-house ratios for this holding |
| UMC UNITED MICROELECTRONICS CORP | COMPLIANT | 1.92% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| PDD PDD HOLDINGS INC | NON_COMPLIANT | 1.78% | AAOIFI0.7% Usmani0.9% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.9% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| BNP PARIBAS SECURITIES CORP. | UNSCREENED | 1.58% | no in-house ratios for this holding |
| VALE3.SA VALE SA | NON_COMPLIANT | 1.58% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail 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 |
| NTES NETEASE INC | NON_COMPLIANT | 1.32% | AAOIFI0.9% Usmani0.3% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.3% MSCI Islamic M-Series0.0% FTSE Shariah0.2% |
| 105560.KS KB FINANCIAL GROUP INC | NON_COMPLIANT | 1.09% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| INFY INFOSYS LTD | COMPLIANT | 1.08% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| JD JD.COM INC | NON_COMPLIANT | 1.03% | AAOIFI28.5% Usmani11.2% Dow Jones Islamic12.5% S&P Shariah13.4% MSCI Islamic11.2% MSCI Islamic M-Series13.4% FTSE Shariah6.4% |
| PETR3.SA PETROLEO BRASILEIRO SA | NON_COMPLIANT | 0.96% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| BIDU BAIDU INC | NON_COMPLIANT | 0.94% | AAOIFI156.9% Usmani11.2% Dow Jones Islamic2.5% S&P Shariah2.5% MSCI Islamic11.2% MSCI Islamic M-Series2.5% FTSE Shariah9.5% |
| PETR3.SA PETROLEO BRASILEIRO SA | NON_COMPLIANT | 0.90% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| GFI GOLD FIELDS LTD | COMPLIANT | 0.90% | AAOIFI4.5% Usmani33.0% Dow Jones Islamic6.6% S&P Shariah8.0% MSCI Islamic33.0% MSCI Islamic M-Series8.0% FTSE Shariah33.0% |
| 055550.KS SHINHAN FINANCIAL GROUP COMPANY LTD | NON_COMPLIANT | 0.85% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 9961.HK TRIP.COM GROUP LTD | NON_COMPLIANT | 0.72% | AAOIFIfail Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| AMXB.MX AMERICA MOVIL SAB DE CV | NON_COMPLIANT | 0.70% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| FEMSAUBD.MX FOMENTO ECONOMICO MEXICANO SAB DE CV | NON_COMPLIANT | 0.64% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ONC BEONE MEDICINES LTD | COMPLIANT | 0.62% | AAOIFI2.8% Usmani12.5% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic12.5% MSCI Islamic M-Series0.3% FTSE Shariah11.7% |
| BBDC3.SA BANCO BRADESCO SA | NON_COMPLIANT | 0.55% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CEMEX-CEMENTOS MEXICANOS SAB DE CV | UNSCREENED | 0.54% | no in-house ratios for this holding |
| CHT CHUNGHWA TELECOM CO LTD | COMPLIANT | 0.50% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| 005490.KS POSCO HOLDINGS INC | NON_COMPLIANT | 0.45% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| SABESP - COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO SA | UNSCREENED | 0.41% | no in-house ratios for this holding |
| ABEV3.SA AMBEV SA | NON_COMPLIANT | 0.40% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| WF WOORI FINANCIAL GROUP INC | NON_COMPLIANT | 0.39% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| AXIA3.SA AXIA ENERGIA SA | NON_COMPLIANT | 0.35% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| SIMO SILICON MOTION TECHNOLOGY CORP | COMPLIANT | 0.34% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| EMBJ3.SA EMBRAER - EMPRESA BRASILEIRA DE AERONAUTICA SA | NON_COMPLIANT | 0.33% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SOCIEDAD QUIMICA Y MINERA DE CHILE SA | UNSCREENED | 0.32% | no in-house ratios for this holding |
| GRUPO AEROPORTUARIO DEL PACIFICO SA DE CV | UNSCREENED | 0.31% | no in-house ratios for this holding |
| XPEV XPENG INC | NON_COMPLIANT | 0.29% | AAOIFI18.0% Usmani4.8% Dow Jones Islamic1.0% S&P Shariah1.1% MSCI Islamic4.8% MSCI Islamic M-Series1.1% FTSE Shariah3.8% |
| NIO NIO INC | NON_COMPLIANT | 0.28% | AAOIFI286.3% Usmani25.1% Dow Jones Islamic29.9% S&P Shariah27.9% MSCI Islamic21.1% MSCI Islamic M-Series27.9% FTSE Shariah11.2% |
| 2423.HK KE HOLDINGS INC | NON_COMPLIANT | 0.28% | AAOIFIfail Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CHILE.SN BANCO DE CHILE SA | NON_COMPLIANT | 0.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ZTO ZTO EXPRESS (CAYMAN) INC | COMPLIANT | 0.26% | AAOIFI9.0% Usmani12.6% Dow Jones Islamic10.4% S&P Shariah10.5% MSCI Islamic12.6% MSCI Islamic M-Series10.5% FTSE Shariah12.1% |
| RDY DR. REDDY'S LABORATORIES LTD | COMPLIANT | 0.26% | AAOIFI1.0% Usmani1.8% Dow Jones Islamic0.9% S&P Shariah0.9% MSCI Islamic1.8% MSCI Islamic M-Series0.9% FTSE Shariah1.8% |
| CIBEST.CL GRUPO CIBEST SA | NON_COMPLIANT | 0.26% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HMY HARMONY GOLD MINING COMPANY LTD | COMPLIANT | 0.25% | AAOIFI3.2% Usmani14.2% Dow Jones Islamic4.3% S&P Shariah5.2% MSCI Islamic14.2% MSCI Islamic M-Series5.2% FTSE Shariah14.2% |
| HTHT H WORLD GROUP LTD | NON_COMPLIANT | 0.21% | AAOIFI31.7% Usmani55.7% Dow Jones Islamic3.9% S&P Shariah4.2% MSCI Islamic50.8% MSCI Islamic M-Series4.2% FTSE Shariah9.0% |
| LI LI AUTO INC | NON_COMPLIANT | 0.21% | AAOIFI17.1% Usmani11.5% Dow Jones Islamic5.6% S&P Shariah5.0% MSCI Islamic11.3% MSCI Islamic M-Series5.0% FTSE Shariah6.2% |
| YMM FULL TRUCK ALLIANCE CO LTD | NON_COMPLIANT | 0.20% | AAOIFI0.3% Usmani0.1% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.1% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| 9901.HK NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC | NON_COMPLIANT | 0.19% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| TLKM.JK TELKOM INDONESIA (PERSERO) TBK PT | NON_COMPLIANT | 0.18% | AAOIFI30.2% Usmani34.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic26.2% MSCI Islamic M-Seriesfail FTSE Shariah26.2% |
| 017670.KS SK TELECOM CO LTD | NON_COMPLIANT | 0.18% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SBSW SIBANYE-STILLWATER LTD | NON_COMPLIANT | 0.18% | AAOIFI23.4% Usmani30.2% Dow Jones Islamic9.1% S&P Shariah10.7% MSCI Islamic30.2% MSCI Islamic M-Series10.7% FTSE Shariah30.2% |
| SOL.JO SASOL LTD | NON_COMPLIANT | 0.17% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
The published standards disagree about this fund by 12 points of portfolio weight — 17.4% of it passes S&P Shariah, 5.8% 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 13.4% ratios fail on 30.9% 31.5% not rated under AAOIFI
ratios pass on 6.1% ratios fail on 31.3% 38.4% not rated under Usmani
ratios pass on 16.2% ratios fail on 21.2% 38.4% not rated under Dow Jones Islamic
ratios pass on 17.4% ratios fail on 20.0% 38.4% not rated under S&P Shariah
ratios pass on 5.8% ratios fail on 31.6% 38.4% not rated under MSCI Islamic
ratios pass on 15.9% ratios fail on 21.5% 38.4% not rated under MSCI Islamic M-Series
ratios pass on 8.3% ratios fail on 29.1% 38.4% not rated under FTSE Shariah
45 of 54 listed holdings carry our own per-methodology verdicts (52% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 21 (31% 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 | 14.73% |
| DREYFUS TREASURY OBLIGATIONS CASH MANAGEMENT | 3.70% |
| HDFCBANK.NS HDFC BANK LTD | 2.93% |
| ICICIBANK.NS ICICI BANK LTD | 2.30% |
| PDD PDD HOLDINGS INC | 1.78% |
| VALE3.SA VALE SA | 1.58% |
| ITUB3.SA ITAU UNIBANCO HOLDING SA | 1.32% |
| NTES NETEASE INC | 1.32% |
| 105560.KS KB FINANCIAL GROUP INC | 1.09% |
| JD JD.COM INC | 1.03% |
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Emerging Markets 2x Strategy Fund (RYWVX) 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.
| Holding | Weight | Verdict |
|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBTnot matched to a ticker | 14.73% | Non-compliant |
| TSMTAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 12.19% | Compliant |
| BABAALIBABA GROUP HOLDING LTD | 6.88% | Compliant |
| DREYFUS TREASURY OBLIGATIONS CASH MANAGEMENTnot matched to a ticker | 3.70% | Non-compliant |
| HDFCBANK.NSHDFC BANK LTD | 2.93% | Non-compliant |
| ASXASE TECHNOLOGY HOLDING CO LTD | 2.37% | Compliant |
| ICICIBANK.NSICICI BANK LTD | 2.30% | Non-compliant |
| GOLDMAN SACHS INTERNATIONALnot matched to a ticker · short | 2.18% | Not screened |
| UMCUNITED MICROELECTRONICS CORP | 1.92% | Compliant |
| PDDPDD HOLDINGS INC | 1.78% | Non-compliant |
Top 10 of 54 holdings, 51.0% 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.
- UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBTnon-compliant14.73%
- DREYFUS TREASURY OBLIGATIONS CASH MANAGEMENTnon-compliant3.70%
- HDFCBANK.NSnon-compliant2.93%
- ICICIBANK.NSnon-compliant2.30%
- GOLDMAN SACHS INTERNATIONALnot screened2.18%
- PDDnon-compliant1.78%
What changed, and when
Verdict history for RYWVX. 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 RYWVX 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
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
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.
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) | 46.90 | NEUTRAL |
| Stochastic %K (14) | 17.29 | BUY |
| CCI (20) | -49.94 | NEUTRAL |
| Williams %R (14) | -82.71 | BUY |
| MACD (12,26,9) | -0.40 | SELL |
| ROC (10) | -5.87 | SELL |
| Momentum (10) | -6.00 | SELL |
| EMA (10) | 96.84 | SELL |
| SMA (10) | 97.36 | SELL |
| EMA (20) | 97.30 | SELL |
| SMA (20) | 97.49 | SELL |
| EMA (30) | 97.42 | SELL |
| SMA (30) | 97.28 | SELL |
| EMA (50) | 97.55 | SELL |
| SMA (50) | 97.63 | SELL |
| EMA (100) | 98.01 | SELL |
| SMA (100) | 97.30 | SELL |
| EMA (200) | 99.47 | SELL |
| SMA (200) | 100.51 | SELL |
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.
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.