Verdicts genuinely change. Free email alert the moment TRFZX'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.
T. Rowe Price Emerging Markets Discovery Stock Fund · T. ROWE PRICE INTERNATIONAL FUNDS, INC.
66 holdings
NON-COMPLIANT At least 30.51% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 37% turns out to be. Matching more holdings can only raise this share, never lower it.
66 holdings, 41 matched (63% of weight). Portfolio as of 2026-07-31, filed 2026-09-25. Source: SEC Form N-PORT.
6.57% of this portfolio’s income is non-permissible — weighted across holdings, computed over 52% of portfolio weight (33 of 66 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 |
|---|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFAC | UNSCREENED | 9.37% | no in-house ratios for this holding |
| 005930.KS SAMSUNG ELECTRONICS CO LTD | COMPLIANT | 8.72% | 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 | 6.07% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| T. Rowe Price Government Reserve Fund | UNSCREENED | 3.57% | no in-house ratios for this holding |
| 2454.TW MEDIATEK INC | COMPLIANT | 3.10% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| ICICIBANK.NS ICICI BANK LTD | NON_COMPLIANT | 2.34% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ASX ASE TECHNOLOGY HOLDING CO LTD | COMPLIANT | 2.09% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| NTES NETEASE INC | NON_COMPLIANT | 2.02% | AAOIFI0.9% Usmani0.3% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.3% MSCI Islamic M-Series0.0% FTSE Shariah0.2% |
| TRUE CORP PCL/NEW-NVDR | UNSCREENED | 2.00% | no in-house ratios for this holding |
| CHINA CONSTRUCTION BANK-H SHS | UNSCREENED | 1.99% | no in-house ratios for this holding |
| 1180.SR THE SAUDI NATIONAL BANK | NON_COMPLIANT | 1.97% | AAOIFI53.1% Usmani11.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic11.0% MSCI Islamic M-Seriesfail FTSE Shariah11.0% |
| FSR.JO FIRSTRAND LTD | NON_COMPLIANT | 1.96% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 0700.HK TENCENT HOLDINGS LTD | COMPLIANT | 1.89% | AAOIFIpass Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| RELIANCE.NS RELIANCE INDUSTRIES LIMITED | COMPLIANT | 1.86% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| GERDAU SA-PREF | UNSCREENED | 1.84% | no in-house ratios for this holding |
| 1519.HK J&T GLOBAL EXPRESS LTD | COMPLIANT | 1.80% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| PETROLEO BRASILEIRO-SPON ADR | UNSCREENED | 1.69% | no in-house ratios for this holding |
| OTP BANK PLC | UNSCREENED | 1.68% | no in-house ratios for this holding |
| 1023.KL CIMB GROUP HOLDINGS BERHAD | NON_COMPLIANT | 1.67% | AAOIFI52.3% Usmani5.8% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic5.8% MSCI Islamic M-Seriesfail FTSE Shariah5.8% |
| 600031.SS SANY HEAVY INDUSTRY CO LTD | COMPLIANT | 1.63% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 002142.SZ BANK OF NINGBO CO LTD | NON_COMPLIANT | 1.62% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CEMEX SAB-SPONS ADR PART CER ADR | UNSCREENED | 1.55% | no in-house ratios for this holding |
| HINDALCO.NS HINDALCO INDUSTRIES LTD | NON_COMPLIANT | 1.52% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 3690.HK MEITUAN-CL B | NON_COMPLIANT | 1.46% | AAOIFIfail Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| GLEN.L GLENCORE PLC | NON_COMPLIANT | 1.42% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 0780.HK TONGCHENG TRAVEL HOLDINGS LTD | NON_COMPLIANT | 1.38% | AAOIFIfail Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| 5E2.SI SEATRIUM LTD | NON_COMPLIANT | 1.34% | AAOIFI39.5% Usmani18.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic16.3% MSCI Islamic M-Seriesfail FTSE Shariah16.3% |
| ADNOC DRILLING CO PJSC | UNSCREENED | 1.32% | no in-house ratios for this holding |
| PZU.WA POWSZECHNY ZAKLAD UBEZPIECZEN | NON_COMPLIANT | 1.30% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BILIBILI INC-CLASS Z | UNSCREENED | 1.29% | no in-house ratios for this holding |
| GAIL.NS GAIL INDIA LTD | COMPLIANT | 1.28% | AAOIFI21.9% Usmani21.1% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic17.7% MSCI Islamic M-Seriespass FTSE Shariah17.7% |
| CHINA PACIFIC INS-H SHS | UNSCREENED | 1.28% | no in-house ratios for this holding |
| REDE D OR SAO LUIZ SA | UNSCREENED | 1.25% | no in-house ratios for this holding |
| ASHOKLEY.NS ASHOK LEYLAND LTD | NON_COMPLIANT | 1.24% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SHREECEM.NS SHREE CEMENT LTD | COMPLIANT | 1.22% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 1109.HK CHINA RESOURCES LAND LTD | NON_COMPLIANT | 1.18% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| GRUPO MEXICO SAB DE CV-SER B | UNSCREENED | 1.15% | no in-house ratios for this holding |
| CHROMA ATE INC | UNSCREENED | 1.13% | no in-house ratios for this holding |
| BANCO BRADESCO SA-PREF | UNSCREENED | 1.07% | no in-house ratios for this holding |
| SHRIRAMFIN.BO SHRIRAM FINANCE LTD | NON_COMPLIANT | 1.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| AIRPORTS OF THAILAND PCL-FOR | UNSCREENED | 0.98% | no in-house ratios for this holding |
| 0868.HK XINYI GLASS HOLDINGS CO LTD | COMPLIANT | 0.95% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| ECLAT TEXTILE COMPANY LTD | UNSCREENED | 0.93% | no in-house ratios for this holding |
| 032830.KS SAMSUNG LIFE INSURANCE CO | NON_COMPLIANT | 0.93% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 2423.HK KE HOLDINGS INC-CL A | NON_COMPLIANT | 0.91% | AAOIFIfail Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| EMBJ3.SA EMBRAER SA | NON_COMPLIANT | 0.83% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 1024.HK KUAISHOU TECHNOLOGY | NON_COMPLIANT | 0.81% | AAOIFIfail Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| TS TENARIS SA | COMPLIANT | 0.74% | AAOIFI1.2% Usmani1.5% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.5% MSCI Islamic M-Series0.7% FTSE Shariah1.5% |
| 6488.TWO GLOBALWAFERS CO LTD | COMPLIANT | 0.74% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 600309.SS WANHUA CHEMICAL GROUP CO LTD | NON_COMPLIANT | 0.69% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BANK RAKYAT INDONESIA PERSER | UNSCREENED | 0.67% | no in-house ratios for this holding |
| 005380.KS HYUNDAI MOTOR CO | NON_COMPLIANT | 0.67% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| COGNIZANT TECH SOLUTIONS-A | UNSCREENED | 0.65% | no in-house ratios for this holding |
| 1060.SR SAUDI AWWAL BANK | NON_COMPLIANT | 0.65% | AAOIFI11.6% Usmani1.8% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic1.8% MSCI Islamic M-Seriesfail FTSE Shariah1.8% |
| WHL.JO WOOLWORTHS HOLDINGS LTD | NON_COMPLIANT | 0.54% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| VIVA3.SA VIVARA PARTICIPACOES SA | COMPLIANT | 0.53% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| IQ IQIYI INC-ADR | NON_COMPLIANT | 0.51% | AAOIFI140.6% Usmani20.0% Dow Jones Islamic10.5% S&P Shariah7.5% MSCI Islamic20.0% MSCI Islamic M-Series7.5% FTSE Shariah19.1% |
| GRUPO AEROPORTUARIO DEL PACIFICO ADR | UNSCREENED | 0.37% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.34% | no in-house ratios for this holding |
| SCB X PCL-FOREIGN | UNSCREENED | 0.28% | no in-house ratios for this holding |
| 6FHA.MU FUTU HOLDINGS LTD-ADR | NON_COMPLIANT | 0.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GGAL GRUPO FINANCIERO GALICIA-ADR | NON_COMPLIANT | 0.24% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 402340.KS SK SQUARE CO LTD | COMPLIANT | 0.16% | AAOIFI0.1% Usmani0.7% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.4% MSCI Islamic M-Seriespass FTSE Shariah0.4% |
| GRS - SECURITY LENDING COLLATERAL | UNSCREENED | 0.13% | no in-house ratios for this holding |
| NOVATEK PJSC OAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| MOSCOW EXCHANGE MICEX-RTS PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 10 points of portfolio weight — 36.7% of it passes FTSE Shariah, 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 30.7% ratios fail on 30.5% 38.6% not rated under AAOIFI
ratios pass on 32.0% ratios fail on 27.3% 40.5% not rated under Usmani
ratios pass on 35.1% ratios fail on 23.4% 41.3% not rated under Dow Jones Islamic
ratios pass on 35.1% ratios fail on 23.4% 41.3% not rated under S&P Shariah
ratios pass on 26.8% ratios fail on 31.8% 41.3% not rated under MSCI Islamic
ratios pass on 32.6% ratios fail on 26.0% 41.3% not rated under MSCI Islamic M-Series
ratios pass on 36.7% ratios fail on 21.9% 41.3% not rated under FTSE Shariah
41 of 66 listed holdings carry our own per-methodology verdicts (63% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 10 (19% 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 | 2.34% |
| NTES NETEASE INC | 2.02% |
| 1180.SR THE SAUDI NATIONAL BANK | 1.97% |
| FSR.JO FIRSTRAND LTD | 1.96% |
| 1023.KL CIMB GROUP HOLDINGS BERHAD | 1.67% |
| 002142.SZ BANK OF NINGBO CO LTD | 1.62% |
| HINDALCO.NS HINDALCO INDUSTRIES LTD | 1.52% |
| 3690.HK MEITUAN-CL B | 1.46% |
| GLEN.L GLENCORE PLC | 1.42% |
| 0780.HK TONGCHENG TRAVEL HOLDINGS LTD | 1.38% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
T. Rowe Price Emerging Markets Discovery Stock Fund (TRFZX) 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 |
|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFACnot matched to a ticker | 9.37% | Not screened |
| 005930.KSSAMSUNG ELECTRONICS CO LTD | 8.72% | Compliant |
| 000660.KSSK HYNIX INC | 6.07% | Compliant |
| T. Rowe Price Government Reserve Fundnot matched to a ticker | 3.57% | Not screened |
| 2454.TWMEDIATEK INC | 3.10% | Compliant |
| ICICIBANK.NSICICI BANK LTD | 2.34% | Non-compliant |
| ASXASE TECHNOLOGY HOLDING CO LTD | 2.09% | Compliant |
| NTESNETEASE INC | 2.02% | Non-compliant |
| TRUE CORP PCL/NEW-NVDRnot matched to a ticker | 2.00% | Not screened |
| CHINA CONSTRUCTION BANK-H SHSnot matched to a ticker | 1.99% | Not screened |
Top 10 of 66 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 TRFZX. 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 3 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.
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) | 47.80 | NEUTRAL |
| Stochastic %K (14) | 26.19 | NEUTRAL |
| CCI (20) | -32.31 | NEUTRAL |
| Williams %R (14) | -73.81 | NEUTRAL |
| MACD (12,26,9) | -0.03 | SELL |
| ROC (10) | -1.34 | SELL |
| Momentum (10) | -0.30 | SELL |
| EMA (10) | 22.18 | SELL |
| SMA (10) | 22.19 | SELL |
| EMA (20) | 22.19 | SELL |
| SMA (20) | 22.16 | SELL |
| EMA (30) | 22.17 | SELL |
| SMA (30) | 22.21 | SELL |
| EMA (50) | 22.12 | SELL |
| SMA (50) | 22.11 | SELL |
| EMA (100) | 21.81 | BUY |
| SMA (100) | 22.15 | SELL |
| EMA (200) | 20.73 | BUY |
| SMA (200) | 21.03 | 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.