Verdicts genuinely change. Free email alert the moment VDMCX'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.
Virtus KAR Developing Markets Fund · Virtus Opportunities Trust
43 holdings
NON-COMPLIANT At least 12.37% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 48% turns out to be. Matching more holdings can only raise this share, never lower it.
43 holdings, 19 matched (51% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.
8.72% of this portfolio’s income is non-permissible — weighted across holdings, computed over 51% of portfolio weight (19 of 43 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 |
|---|---|---|---|
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | COMPLIANT | 10.56% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| CAIXA SEGURIDADE PARTICIPACOES SA | UNSCREENED | 5.14% | no in-house ratios for this holding |
| FERREYCORP SAA | UNSCREENED | 3.94% | no in-house ratios for this holding |
| CORPORACION MOCTEZUMA SAB DE CV | UNSCREENED | 3.80% | no in-house ratios for this holding |
| TBBB BBB FOODS INC | COMPLIANT | 3.72% | AAOIFI39.1% Usmani7.4% Dow Jones Islamic3.7% S&P Shariah3.9% MSCI Islamic7.4% MSCI Islamic M-Series3.9% FTSE Shariah7.4% |
| EPI-A.ST EPIROC AB | COMPLIANT | 3.47% | AAOIFI6.4% Usmani28.6% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic25.1% MSCI Islamic M-Seriespass FTSE Shariah25.1% |
| AC.MX ARCA CONTINENTAL SAB DE CV | COMPLIANT | 3.22% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| BBCA.JK BANK CENTRAL ASIA TBK PT | NON_COMPLIANT | 3.13% | AAOIFI0.3% Usmani0.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic0.2% MSCI Islamic M-Seriesfail FTSE Shariah0.2% |
| 0700.HK TENCENT HOLDINGS LTD | COMPLIANT | 2.97% | AAOIFIpass Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| RIVERSTONE HOLDINGS LTD | UNSCREENED | 2.83% | no in-house ratios for this holding |
| GPS PARTICIPACOES E EMPREENDIMENTOS SA | UNSCREENED | 2.80% | no in-house ratios for this holding |
| NTES NETEASE INC | NON_COMPLIANT | 2.64% | AAOIFI0.9% Usmani0.3% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.3% MSCI Islamic M-Series0.0% FTSE Shariah0.2% |
| SPORTON INTERNATIONAL INC | UNSCREENED | 2.62% | no in-house ratios for this holding |
| PRECISION TSUGAMI (CHINA) CORP LTD | UNSCREENED | 2.46% | no in-house ratios for this holding |
| HEINEKEN MALAYSIA BHD | UNSCREENED | 2.31% | no in-house ratios for this holding |
| 443060.KS HD HYUNDAI MARINE SOLUTION CO LTD | COMPLIANT | 2.29% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| 0669.HK TECHTRONIC INDUSTRIES COMPANY LTD | COMPLIANT | 2.24% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| VACN.SW VAT GROUP AG | COMPLIANT | 2.17% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| CAMS.BO COMPUTER AGE MANAGEMENT SERVICES LTD | COMPLIANT | 2.13% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| WAL-MART DE MEXICO SAB DE CV (WAL-MART DE MEXICO SA DE CV) | UNSCREENED | 2.12% | no in-house ratios for this holding |
| UNION AUCTION PCL | UNSCREENED | 1.98% | no in-house ratios for this holding |
| HAGA.IC HAGAR HF | NON_COMPLIANT | 1.91% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 1882.HK HAITIAN INTERNATIONAL HOLDINGS LTD | NON_COMPLIANT | 1.85% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| ALE.WA ALLEGRO.EU SA | COMPLIANT | 1.82% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| NICE INFORMATION SERVICE COMPANY LTD | UNSCREENED | 1.81% | no in-house ratios for this holding |
| TEGMA GESTAO LOGISTICA SA | UNSCREENED | 1.81% | no in-house ratios for this holding |
| CREDIT BUREAU ASIA LTD | UNSCREENED | 1.78% | no in-house ratios for this holding |
| KASPI.KZ JSC | UNSCREENED | 1.69% | no in-house ratios for this holding |
| JACK TECHNOLOGY CO LTD | UNSCREENED | 1.60% | no in-house ratios for this holding |
| BRBI BR PARTNERS SA | UNSCREENED | 1.59% | no in-house ratios for this holding |
| OPTIMA.AT OPTIMA BANK SA | NON_COMPLIANT | 1.59% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| DREYFUS GOVERNMENT CASH MANAGEMENT FUNDS | UNSCREENED | 1.49% | no in-house ratios for this holding |
| AVIA.JK AVIA AVIAN TBK PT | COMPLIANT | 1.30% | AAOIFI0.4% Usmani1.5% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.8% MSCI Islamic M-Seriespass FTSE Shariah0.8% |
| ESAB ESAB CORP | NON_COMPLIANT | 1.26% | AAOIFI54.5% Usmani38.7% Dow Jones Islamic37.4% S&P Shariah40.1% MSCI Islamic38.7% MSCI Islamic M-Series40.1% FTSE Shariah36.5% |
| S1 CORP (KR) | UNSCREENED | 1.17% | no in-house ratios for this holding |
| GFC LTD | UNSCREENED | 1.16% | no in-house ratios for this holding |
| QUALITAS CONTROLADORA SAB DE CV | UNSCREENED | 1.09% | no in-house ratios for this holding |
| JVM CO LTD | UNSCREENED | 1.06% | no in-house ratios for this holding |
| LUMAX INTERNATIONAL CORP LTD | UNSCREENED | 0.97% | no in-house ratios for this holding |
| BABA ALIBABA GROUP HOLDING LTD | COMPLIANT | 0.86% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| LEENO INDUSTRIAL INC | UNSCREENED | 0.73% | no in-house ratios for this holding |
| KFINTECH.NS KFIN TECHNOLOGIES LTD | COMPLIANT | 0.61% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| HUMANICA PCL | UNSCREENED | 0.18% | no in-house ratios for this holding |
The published standards disagree about this fund by 19 points of portfolio weight — 32.8% of it passes AAOIFI, 13.5% 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 32.8% ratios fail on 17.0% 48.1% not rated under AAOIFI
ratios pass on 16.2% ratios fail on 26.0% 55.7% not rated under Usmani
ratios pass on 32.4% ratios fail on 9.7% 55.7% not rated under Dow Jones Islamic
ratios pass on 32.4% ratios fail on 9.7% 55.7% not rated under S&P Shariah
ratios pass on 13.5% ratios fail on 28.7% 55.7% not rated under MSCI Islamic
ratios pass on 32.4% ratios fail on 9.7% 55.7% not rated under MSCI Islamic M-Series
ratios pass on 16.2% ratios fail on 26.0% 55.7% not rated under FTSE Shariah
19 of 43 listed holdings carry our own per-methodology verdicts (50% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 8 (27% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Virtus KAR Developing Markets Fund (VDMCX) 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 COMPANY LTD | 10.56% | Compliant |
| CAIXA SEGURIDADE PARTICIPACOES SAnot matched to a ticker | 5.14% | Not screened |
| FERREYCORP SAAnot matched to a ticker | 3.94% | Not screened |
| CORPORACION MOCTEZUMA SAB DE CVnot matched to a ticker | 3.80% | Not screened |
| TBBBBBB FOODS INC | 3.72% | Compliant |
| EPI-A.STEPIROC AB | 3.47% | Compliant |
| AC.MXARCA CONTINENTAL SAB DE CV | 3.22% | Compliant |
| BBCA.JKBANK CENTRAL ASIA TBK PT | 3.13% | Non-compliant |
| 0700.HKTENCENT HOLDINGS LTD | 2.97% | Compliant |
| RIVERSTONE HOLDINGS LTDnot matched to a ticker | 2.83% | Not screened |
Top 10 of 43 holdings, 42.8% 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 VDMCX. 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 6 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.