Verdicts genuinely change. Free email alert the moment THDRX'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.
Thornburg Developing World Fund · THORNBURG INVESTMENT TRUST
41 holdings
NON-COMPLIANT 28.52% of portfolio weight is in non-compliant holdings, over the 5% threshold.
41 holdings, 33 matched (86% of weight). Portfolio as of 2026-06-30, filed 2026-08-24. Source: SEC Form N-PORT.
9.51% of this portfolio’s income is non-permissible — weighted across holdings, computed over 80% of portfolio weight (29 of 41 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.
58.0% compliant 0.0% questionable 28.5% non-compliant 13.5% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| TSM Taiwan Semiconductor Manufacturing Co Ltd | COMPLIANT | 15.44% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| 005930.KS Samsung Electronics Co Ltd | COMPLIANT | 8.53% | AAOIFI1.4% Usmani5.3% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic4.5% MSCI Islamic M-Seriespass FTSE Shariah4.5% |
| 000660.KS SK hynix Inc | COMPLIANT | 4.68% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 2454.TW MediaTek Inc | COMPLIANT | 4.30% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 402340.KS SK Square Co Ltd | COMPLIANT | 4.17% | AAOIFI0.1% Usmani0.7% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.4% MSCI Islamic M-Seriespass FTSE Shariah0.4% |
| Thornburg Capital Management Fund | UNSCREENED | 3.84% | no in-house ratios for this holding |
| BID.JO Bid Corp Ltd | COMPLIANT | 3.62% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| ICICIBANK.NS ICICI Bank Ltd | NON_COMPLIANT | 3.01% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| NPN.JO Naspers Ltd | NON_COMPLIANT | 2.70% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 1299.HK AIA Group Ltd | NON_COMPLIANT | 2.61% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0700.HK Tencent Holdings Ltd | COMPLIANT | 2.37% | AAOIFIpass Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| PETR3.SA Petroleo Brasileiro SA - Petrobras | NON_COMPLIANT | 2.26% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ADNOC Drilling Co PJSC | UNSCREENED | 2.06% | no in-house ratios for this holding |
| 0669.HK Techtronic Industries Co Ltd | COMPLIANT | 2.01% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 5347.KL Tenaga Nasional Bhd | NON_COMPLIANT | 1.96% | AAOIFI110.7% Usmani60.5% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic45.2% MSCI Islamic M-Seriesfail FTSE Shariah45.2% |
| BAP Credicorp Ltd | NON_COMPLIANT | 1.90% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BBCA.JK Bank Central Asia Tbk PT | NON_COMPLIANT | 1.85% | AAOIFI0.3% Usmani0.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic0.2% MSCI Islamic M-Seriesfail FTSE Shariah0.2% |
| BABA Alibaba Group Holding Ltd | COMPLIANT | 1.72% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| RELIANCE.NS Reliance Industries Ltd | COMPLIANT | 1.72% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| TPEIR.AT Piraeus Bank SA | NON_COMPLIANT | 1.60% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 2319.HK China Mengniu Dairy Co Ltd | NON_COMPLIANT | 1.59% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| TBBB BBB Foods Inc | COMPLIANT | 1.59% | AAOIFI39.1% Usmani7.4% Dow Jones Islamic3.7% S&P Shariah3.9% MSCI Islamic7.4% MSCI Islamic M-Series3.9% FTSE Shariah7.4% |
| 300750.SZ Contemporary Amperex Technology Co Ltd | COMPLIANT | 1.55% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| ITUB3.SA Itau Unibanco Holding SA | NON_COMPLIANT | 1.54% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Salik Co PJSC | UNSCREENED | 1.53% | no in-house ratios for this holding |
| XP XP Inc | NON_COMPLIANT | 1.53% | AAOIFI15.5% Usmani0.5% Dow Jones Islamic3.1% S&P Shariah2.9% MSCI Islamic0.5% MSCI Islamic M-Series2.9% FTSE Shariah0.5% |
| Asia Vital Components Co Ltd | UNSCREENED | 1.47% | no in-house ratios for this holding |
| 0939.HK China Construction Bank Corp | NON_COMPLIANT | 1.45% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SE Sea Ltd | COMPLIANT | 1.45% | AAOIFI3.7% Usmani8.8% Dow Jones Islamic3.3% S&P Shariah4.1% MSCI Islamic8.6% MSCI Islamic M-Series4.1% FTSE Shariah3.6% |
| BHARTIARTL.BO Bharti Airtel Ltd | COMPLIANT | 1.43% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 105560.KS KB Financial Group Inc | NON_COMPLIANT | 1.40% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| AC.MX Arca Continental SAB de CV | COMPLIANT | 1.38% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| MMYT MakeMyTrip Ltd | NON_COMPLIANT | 1.36% | AAOIFI4.7% Usmani12.9% Dow Jones Islamic3.0% S&P Shariah3.3% MSCI Islamic12.9% MSCI Islamic M-Series3.3% FTSE Shariah12.9% |
| TOTVS SA | UNSCREENED | 1.32% | no in-house ratios for this holding |
| MELI MercadoLibre Inc | COMPLIANT | 1.20% | AAOIFI20.1% Usmani38.5% Dow Jones Islamic19.0% S&P Shariah20.6% MSCI Islamic38.3% MSCI Islamic M-Series20.6% FTSE Shariah33.3% |
| Bangkok Dusit Medical Services PCL | UNSCREENED | 1.15% | no in-house ratios for this holding |
| Kweichow Moutai Co Ltd | UNSCREENED | 1.08% | no in-house ratios for this holding |
| King Slide Works Co Ltd | UNSCREENED | 1.07% | no in-house ratios for this holding |
| CSG.AS CSG NV | NON_COMPLIANT | 0.93% | AAOIFI22.8% Usmani44.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic44.7% MSCI Islamic M-Seriesfail FTSE Shariah44.7% |
| 079550.KS LIG Defense&Aerospace Co Ltd | NON_COMPLIANT | 0.84% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| TCS.NS Tata Consultancy Services Ltd | COMPLIANT | 0.81% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
The published standards disagree about this fund by 27 points of portfolio weight — 56.0% of it passes AAOIFI, 28.5% passes Usmani. 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 56.0% ratios fail on 30.5% 13.5% not rated under AAOIFI
ratios pass on 28.5% ratios fail on 51.1% 20.4% not rated under Usmani
ratios pass on 53.6% ratios fail on 27.2% 19.2% not rated under Dow Jones Islamic
ratios pass on 53.6% ratios fail on 27.2% 19.2% not rated under S&P Shariah
ratios pass on 30.0% ratios fail on 49.6% 20.4% not rated under MSCI Islamic
ratios pass on 53.6% ratios fail on 27.2% 19.2% not rated under MSCI Islamic M-Series
ratios pass on 34.3% ratios fail on 45.3% 20.4% not rated under FTSE Shariah
33 of 41 listed holdings carry our own per-methodology verdicts (87% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 12 (42% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| ICICIBANK.NS ICICI Bank Ltd | 3.01% |
| NPN.JO Naspers Ltd | 2.70% |
| 1299.HK AIA Group Ltd | 2.61% |
| PETR3.SA Petroleo Brasileiro SA - Petrobras | 2.26% |
| 5347.KL Tenaga Nasional Bhd | 1.96% |
| BAP Credicorp Ltd | 1.90% |
| BBCA.JK Bank Central Asia Tbk PT | 1.85% |
| TPEIR.AT Piraeus Bank SA | 1.60% |
| 2319.HK China Mengniu Dairy Co Ltd | 1.59% |
| ITUB3.SA Itau Unibanco Holding SA | 1.54% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Thornburg Developing World Fund (THDRX) 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 |
|---|---|---|
| TSMTaiwan Semiconductor Manufacturing Co Ltd | 15.44% | Compliant |
| 005930.KSSamsung Electronics Co Ltd | 8.53% | Compliant |
| 000660.KSSK hynix Inc | 4.68% | Compliant |
| 2454.TWMediaTek Inc | 4.30% | Compliant |
| 402340.KSSK Square Co Ltd | 4.17% | Compliant |
| Thornburg Capital Management Fundnot matched to a ticker | 3.84% | Not screened |
| BID.JOBid Corp Ltd | 3.62% | Compliant |
| ICICIBANK.NSICICI Bank Ltd | 3.01% | Non-compliant |
| NPN.JONaspers Ltd | 2.70% | Non-compliant |
| 1299.HKAIA Group Ltd | 2.61% | Non-compliant |
Top 10 of 41 holdings, 52.9% 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 THDRX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
Tracked since 2026-09-07.
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.
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) | 36.60 | NEUTRAL |
| Stochastic %K (14) | 2.15 | BUY |
| CCI (20) | -164.11 | BUY |
| Williams %R (14) | -97.85 | BUY |
| MACD (12,26,9) | -0.21 | SELL |
| ROC (10) | -6.46 | SELL |
| Momentum (10) | -2.28 | SELL |
| EMA (10) | 33.73 | SELL |
| SMA (10) | 34.00 | SELL |
| EMA (20) | 34.02 | SELL |
| SMA (20) | 34.28 | SELL |
| EMA (30) | 34.08 | SELL |
| SMA (30) | 34.30 | SELL |
| EMA (50) | 33.97 | SELL |
| SMA (50) | 34.20 | SELL |
| EMA (100) | 33.27 | SELL |
| SMA (100) | 33.63 | SELL |
| EMA (200) | 31.35 | BUY |
| SMA (200) | 31.50 | BUY |
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.