Is VANGUARD GLOBAL MINIMUM VOLATILITY FUND (VMNVX) fund halal?

VANGUARD GLOBAL MINIMUM VOLATILITY FUND (VMNVX) is not halal (non-compliant), per a look-through of the fund's own reported holdings.

Why is VANGUARD GLOBAL MINIMUM VOLATILITY FUND (VMNVX) not halal?

VANGUARD GLOBAL MINIMUM VOLATILITY FUND (VMNVX) is not halal (non-compliant) because its verdict comes from looking through to the fund's own filed holdings and screening each one; the holdings and the weight behind the finding are set out on this page.

What makes a fund halal?

A fund owns no business and has no balance sheet of its own, so it is screened by looking through to what it holds: each holding is screened, the weights come from the fund's own filed portfolio, and a fund whose portfolio could not be covered far enough is left unverified rather than given a verdict.

VMNVXETF / FundVANGUARD GLOBAL MINIMUM VOLATILITY FUND

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Sharia status

NOT COMPLIANT

Screened by look-through to its filed holdings — 95% of portfolio weight covered

Fund look-through

VANGUARD GLOBAL MINIMUM VOLATILITY FUND · VANGUARD WHITEHALL FUNDS

252 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 41.93% of portfolio weight is in non-compliant holdings, over the 5% threshold.

252 holdings, 196 matched (95% of weight). Portfolio as of 2026-07-31, filed 2026-09-28. Source: SEC Form N-PORT.

2.35% of this portfolio’s income is non-permissible — weighted across holdings, computed over 85% of portfolio weight (171 of 252 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.

49.0% compliant 4.0% questionable 41.6% non-compliant 5.4% unscreened

All holdings (252) · showing 1–250

Holding	Status	Weight	Every methodology, and the debt ratio behind it
MSFT Microsoft Corp	QUESTIONABLE	1.83%	AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3%
KO Coca-Cola Co/The	COMPLIANT	1.63%	AAOIFI11.9% Usmani43.4% Dow Jones Islamic14.9% S&P Shariah15.9% MSCI Islamic43.4% MSCI Islamic M-Series15.9% FTSE Shariah41.8%
CSCO Cisco Systems Inc	COMPLIANT	1.50%	AAOIFI5.7% Usmani18.9% Dow Jones Islamic8.4% S&P Shariah9.5% MSCI Islamic18.9% MSCI Islamic M-Series9.5% FTSE Shariah17.6%
SHEL Shell PLC	NON_COMPLIANT	1.49%	AAOIFI38.4% Usmani20.4% Dow Jones Islamic17.6% S&P Shariah18.0% MSCI Islamic20.4% MSCI Islamic M-Series18.0% FTSE Shariah20.4%
TSM Taiwan Semiconductor Manufacturing Co Ltd	COMPLIANT	1.46%	AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4%
WM Waste Management Inc	COMPLIANT	1.45%	AAOIFI25.8% Usmani50.3% Dow Jones Islamic26.5% S&P Shariah27.9% MSCI Islamic50.3% MSCI Islamic M-Series27.9% FTSE Shariah50.3%
MSI Motorola Solutions Inc	COMPLIANT	1.44%	AAOIFI12.4% Usmani50.0% Dow Jones Islamic13.4% S&P Shariah14.5% MSCI Islamic50.0% MSCI Islamic M-Series14.5% FTSE Shariah46.9%
CPG.L Compass Group PLC	COMPLIANT	1.43%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
CHD Church & Dwight Co Inc	COMPLIANT	1.43%	AAOIFI10.6% Usmani26.7% Dow Jones Islamic10.4% S&P Shariah10.4% MSCI Islamic26.7% MSCI Islamic M-Series10.4% FTSE Shariah24.8%
RSG Republic Services Inc	COMPLIANT	1.41%	AAOIFI21.1% Usmani40.7% Dow Jones Islamic21.0% S&P Shariah22.6% MSCI Islamic40.7% MSCI Islamic M-Series22.6% FTSE Shariah40.0%
LMT Lockheed Martin Corp	NON_COMPLIANT	1.40%	AAOIFI16.6% Usmani32.9% Dow Jones Islamic17.6% S&P Shariah18.2% MSCI Islamic32.9% MSCI Islamic M-Series18.2% FTSE Shariah32.9%
TJX TJX Cos Inc/The	COMPLIANT	1.40%	AAOIFI10.1% Usmani38.6% Dow Jones Islamic9.4% S&P Shariah10.4% MSCI Islamic38.6% MSCI Islamic M-Series10.4% FTSE Shariah7.7%
ICICIBANK.NS ICICI Bank Ltd	NON_COMPLIANT	1.38%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
005930.KS Samsung Electronics Co Ltd	COMPLIANT	1.37%	AAOIFI1.4% Usmani5.3% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic4.5% MSCI Islamic M-Seriespass FTSE Shariah4.5%
ASX ASE Technology Holding Co Ltd	COMPLIANT	1.35%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
COR Cencora Inc	COMPLIANT	1.35%	AAOIFI18.9% Usmani14.0% Dow Jones Islamic20.8% S&P Shariah22.7% MSCI Islamic14.0% MSCI Islamic M-Series22.7% FTSE Shariah14.0%
ORA.PA Orange SA	NON_COMPLIANT	1.34%	AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass
RTX RTX Corp	NON_COMPLIANT	1.33%	AAOIFI12.5% Usmani19.3% Dow Jones Islamic15.9% S&P Shariah18.5% MSCI Islamic19.3% MSCI Islamic M-Series18.5% FTSE Shariah18.4%
SCMN.SW Swisscom AG	COMPLIANT	1.32%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
NVDA NVIDIA Corp	COMPLIANT	1.31%	AAOIFI1.1% Usmani12.1% Dow Jones Islamic0.9% S&P Shariah1.1% MSCI Islamic12.1% MSCI Islamic M-Series1.1% FTSE Shariah10.4%
TXN Texas Instruments Inc	COMPLIANT	1.31%	AAOIFI5.9% Usmani39.2% Dow Jones Islamic7.6% S&P Shariah8.1% MSCI Islamic39.2% MSCI Islamic M-Series8.1% FTSE Shariah39.2%
O'Reilly Automotive Inc	UNSCREENED	1.29%	no in-house ratios for this holding
MCD McDonald's Corp	NON_COMPLIANT	1.29%	AAOIFI29.7% Usmani91.1% Dow Jones Islamic26.3% S&P Shariah27.2% MSCI Islamic91.1% MSCI Islamic M-Series27.2% FTSE Shariah66.5%
NVS Novartis AG	COMPLIANT	1.28%	AAOIFI12.5% Usmani25.9% Dow Jones Islamic11.8% S&P Shariah12.6% MSCI Islamic25.9% MSCI Islamic M-Series12.6% FTSE Shariah25.9%
MCK McKesson Corp	COMPLIANT	1.28%	AAOIFI12.5% Usmani14.9% Dow Jones Islamic14.5% S&P Shariah15.8% MSCI Islamic14.7% MSCI Islamic M-Series15.8% FTSE Shariah12.5%
IBM International Business Machines Corp	COMPLIANT	1.20%	AAOIFI29.5% Usmani42.9% Dow Jones Islamic28.2% S&P Shariah32.2% MSCI Islamic42.9% MSCI Islamic M-Series32.2% FTSE Shariah40.8%
WTM White Mountains Insurance Group Ltd	NON_COMPLIANT	1.18%	AAOIFI17.8% Usmani6.8% Dow Jones Islamic18.9% S&P Shariah19.8% MSCI Islamic6.8% MSCI Islamic M-Series19.8% FTSE Shariah6.8%
ROP Roper Technologies Inc	NON_COMPLIANT	1.18%	AAOIFI28.1% Usmani32.2% Dow Jones Islamic22.5% S&P Shariah21.7% MSCI Islamic32.2% MSCI Islamic M-Series21.7% FTSE Shariah32.2%
NOC Northrop Grumman Corp	NON_COMPLIANT	1.15%	AAOIFI23.3% Usmani33.6% Dow Jones Islamic21.9% S&P Shariah23.0% MSCI Islamic33.6% MSCI Islamic M-Series23.0% FTSE Shariah29.9%
ADI Analog Devices Inc	COMPLIANT	1.09%	AAOIFI4.6% Usmani16.8% Dow Jones Islamic6.1% S&P Shariah6.8% MSCI Islamic16.8% MSCI Islamic M-Series6.8% FTSE Shariah16.8%
BN.PA Danone SA	NON_COMPLIANT	1.09%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass
H.TO Hydro One Ltd	NON_COMPLIANT	1.05%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
OHI Omega Healthcare Investors Inc	NON_COMPLIANT	1.03%	AAOIFI30.5% Usmani42.9% Dow Jones Islamic37.6% S&P Shariah43.5% MSCI Islamic42.9% MSCI Islamic M-Series43.5% FTSE Shariah42.9%
VRSN VeriSign Inc	COMPLIANT	1.02%	AAOIFI0.0% Usmani0.3% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.3% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
UMC United Microelectronics Corp	COMPLIANT	1.02%	AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
CBOE Cboe Global Markets Inc	NON_COMPLIANT	1.01%	AAOIFI4.9% Usmani14.9% Dow Jones Islamic6.2% S&P Shariah6.8% MSCI Islamic14.9% MSCI Islamic M-Series6.8% FTSE Shariah13.6%
ITUB3.SA Itau Unibanco Holding SA	NON_COMPLIANT	1.01%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
DOX Amdocs Ltd	COMPLIANT	0.98%	AAOIFI12.6% Usmani12.4% Dow Jones Islamic9.2% S&P Shariah8.9% MSCI Islamic12.4% MSCI Islamic M-Series8.9% FTSE Shariah10.1%
CL Colgate-Palmolive Co	COMPLIANT	0.97%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
9434.T SoftBank Corp	NON_COMPLIANT	0.96%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
GOOG Alphabet Inc	QUESTIONABLE	0.94%	AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9%
033780.KS KT&G Corp	NON_COMPLIANT	0.93%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
SO Southern Co/The	NON_COMPLIANT	0.93%	AAOIFI68.7% Usmani45.3% Dow Jones Islamic72.3% S&P Shariah78.7% MSCI Islamic44.8% MSCI Islamic M-Series78.7% FTSE Shariah43.8%
PSO Pearson PLC	COMPLIANT	0.92%	AAOIFI20.7% Usmani22.9% Dow Jones Islamic20.9% S&P Shariah22.0% MSCI Islamic22.9% MSCI Islamic M-Series22.0% FTSE Shariah22.9%
ED Consolidated Edison Inc	NON_COMPLIANT	0.90%	AAOIFI65.9% Usmani35.2% Dow Jones Islamic73.6% S&P Shariah78.5% MSCI Islamic35.2% MSCI Islamic M-Series78.5% FTSE Shariah34.5%
GD General Dynamics Corp	NON_COMPLIANT	0.88%	AAOIFI10.3% Usmani17.4% Dow Jones Islamic11.7% S&P Shariah12.4% MSCI Islamic16.8% MSCI Islamic M-Series12.4% FTSE Shariah13.7%
KMI Kinder Morgan Inc	NON_COMPLIANT	0.84%	AAOIFI46.1% Usmani43.5% Dow Jones Islamic53.0% S&P Shariah61.2% MSCI Islamic43.5% MSCI Islamic M-Series61.2% FTSE Shariah43.5%
E Eni SpA	NON_COMPLIANT	0.82%	AAOIFI42.7% Usmani20.8% Dow Jones Islamic28.0% S&P Shariah29.8% MSCI Islamic20.8% MSCI Islamic M-Series29.8% FTSE Shariah20.8%
PPL.TO Pembina Pipeline Corp	NON_COMPLIANT	0.81%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
HDFCBANK.NS HDFC Bank Ltd	NON_COMPLIANT	0.81%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
RDY Dr Reddy's Laboratories Ltd	COMPLIANT	0.81%	AAOIFI1.0% Usmani1.8% Dow Jones Islamic0.9% S&P Shariah0.9% MSCI Islamic1.8% MSCI Islamic M-Series0.9% FTSE Shariah1.8%
XOM ExxonMobil Holdings Corp	COMPLIANT	0.80%	AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1%
WES.AX Wesfarmers Ltd	COMPLIANT	0.80%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail
IDA IDACORP Inc	NON_COMPLIANT	0.78%	AAOIFI43.9% Usmani33.8% Dow Jones Islamic52.0% S&P Shariah58.2% MSCI Islamic33.7% MSCI Islamic M-Series58.2% FTSE Shariah33.7%
ATR AptarGroup Inc	COMPLIANT	0.78%	AAOIFI17.2% Usmani26.9% Dow Jones Islamic15.2% S&P Shariah15.4% MSCI Islamic26.9% MSCI Islamic M-Series15.4% FTSE Shariah26.0%
CME CME Group Inc	NON_COMPLIANT	0.77%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
Vanguard Cmt Funds-Vanguard Market Liquidity Fund	UNSCREENED	0.73%	no in-house ratios for this holding
O39.SI Oversea-Chinese Banking Corp Ltd	NON_COMPLIANT	0.72%	AAOIFI21.2% Usmani4.5% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic4.5% MSCI Islamic M-Seriesfail FTSE Shariah4.5%
HPQ HP Inc	NON_COMPLIANT	0.71%	AAOIFI36.8% Usmani22.6% Dow Jones Islamic42.8% S&P Shariah41.1% MSCI Islamic22.6% MSCI Islamic M-Series41.1% FTSE Shariah20.0%
0002.HK CLP Holdings Ltd	NON_COMPLIANT	0.71%	AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass
MPL.AX Medibank Pvt Ltd	NON_COMPLIANT	0.71%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
ENB.TO Enbridge Inc	NON_COMPLIANT	0.68%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
CHE Chemed Corp	COMPLIANT	0.66%	AAOIFI4.3% Usmani18.7% Dow Jones Islamic4.2% S&P Shariah3.9% MSCI Islamic18.7% MSCI Islamic M-Series3.9% FTSE Shariah8.9%
DLB Dolby Laboratories Inc	COMPLIANT	0.65%	AAOIFI0.8% Usmani1.5% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.5% MSCI Islamic M-Series0.7% FTSE Shariah0.0%
CRUS Cirrus Logic Inc	COMPLIANT	0.64%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
Agree Realty Corp	UNSCREENED	0.62%	no in-house ratios for this holding
ADP Automatic Data Processing Inc	COMPLIANT	0.57%	AAOIFI5.0% Usmani8.5% Dow Jones Islamic5.0% S&P Shariah5.2% MSCI Islamic8.5% MSCI Islamic M-Series5.2% FTSE Shariah7.9%
GIS General Mills Inc	NON_COMPLIANT	0.57%	AAOIFI81.9% Usmani45.8% Dow Jones Islamic55.0% S&P Shariah49.4% MSCI Islamic45.8% MSCI Islamic M-Series49.4% FTSE Shariah44.5%
IFC.TO Intact Financial Corp	NON_COMPLIANT	0.56%	AAOIFI11.3% Usmani9.4% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic8.4% MSCI Islamic M-Seriesfail FTSE Shariah8.4%
KPN.AS Koninklijke KPN NV	NON_COMPLIANT	0.56%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
AAPL Apple Inc	COMPLIANT	0.56%	AAOIFI2.1% Usmani21.5% Dow Jones Islamic2.2% S&P Shariah2.4% MSCI Islamic21.5% MSCI Islamic M-Series2.4% FTSE Shariah21.5%
GOOG Alphabet Inc	QUESTIONABLE	0.54%	AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9%
FOX Fox Corp	NON_COMPLIANT	0.54%	AAOIFI29.1% Usmani33.7% Dow Jones Islamic14791428216.1% S&P Shariah17289936602.0% MSCI Islamic33.7% MSCI Islamic M-Series17289936602.0% FTSE Shariah29.4%
BSX Boston Scientific Corp	COMPLIANT	0.52%	AAOIFI19.4% Usmani27.9% Dow Jones Islamic10.0% S&P Shariah10.9% MSCI Islamic27.9% MSCI Islamic M-Series10.9% FTSE Shariah27.9%
GSK GSK PLC	COMPLIANT	0.51%	AAOIFI19.2% Usmani23.6% Dow Jones Islamic10.6% S&P Shariah11.2% MSCI Islamic23.6% MSCI Islamic M-Series11.2% FTSE Shariah23.6%
AON Aon PLC	NON_COMPLIANT	0.51%	AAOIFI22.9% Usmani29.4% Dow Jones Islamic20.7% S&P Shariah21.9% MSCI Islamic29.4% MSCI Islamic M-Series21.9% FTSE Shariah28.1%
BRK.B Berkshire Hathaway Inc	NON_COMPLIANT	0.50%	no in-house ratios for this holding
MSGS Madison Square Garden Sports Corp	QUESTIONABLE	0.49%	AAOIFI12.3% Usmani75.5% Dow Jones Islamic18.8% S&P Shariah20.8% MSCI Islamic75.5% MSCI Islamic M-Series20.8% FTSE Shariah16.8%
CVX Chevron Corp	COMPLIANT	0.49%	AAOIFI0.1% Usmani0.1% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.1% MSCI Islamic M-Series0.1% FTSE Shariah0.1%
PG Procter & Gamble Co/The	COMPLIANT	0.48%	AAOIFI8.9% Usmani23.9% Dow Jones Islamic8.5% S&P Shariah8.5% MSCI Islamic23.9% MSCI Islamic M-Series8.5% FTSE Shariah23.2%
FCN FTI Consulting Inc	NON_COMPLIANT	0.47%	AAOIFI30.3% Usmani35.9% Dow Jones Islamic22.2% S&P Shariah20.2% MSCI Islamic35.9% MSCI Islamic M-Series20.2% FTSE Shariah28.8%
ELS Equity LifeStyle Properties Inc	COMPLIANT	0.47%	AAOIFI27.9% Usmani58.2% Dow Jones Islamic27.8% S&P Shariah28.2% MSCI Islamic58.2% MSCI Islamic M-Series28.2% FTSE Shariah58.2%
SGE.L Sage Group PLC/The	COMPLIANT	0.47%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail
Coles Group Ltd	UNSCREENED	0.47%	no in-house ratios for this holding
ATO Atmos Energy Corp	NON_COMPLIANT	0.45%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
CB Chubb Ltd	NON_COMPLIANT	0.43%	AAOIFI13.3% Usmani6.3% Dow Jones Islamic14.8% S&P Shariah15.8% MSCI Islamic6.3% MSCI Islamic M-Series15.8% FTSE Shariah6.3%
Brambles Ltd	UNSCREENED	0.41%	no in-house ratios for this holding
ASML ASML Holding NV	COMPLIANT	0.41%	AAOIFI0.8% Usmani8.7% Dow Jones Islamic1.3% S&P Shariah1.4% MSCI Islamic8.7% MSCI Islamic M-Series1.4% FTSE Shariah8.7%
MU Micron Technology Inc	COMPLIANT	0.41%	AAOIFI0.6% Usmani6.7% Dow Jones Islamic1.8% S&P Shariah2.4% MSCI Islamic4.8% MSCI Islamic M-Series2.4% FTSE Shariah4.3%
ENGI.PA Engie SA	NON_COMPLIANT	0.40%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass
DOL.TO Dollarama Inc	COMPLIANT	0.40%	AAOIFI11.7% Usmani108.0% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic71.4% MSCI Islamic M-Seriespass FTSE Shariah71.4%
LEENO Industrial Inc	UNSCREENED	0.40%	no in-house ratios for this holding
KMB Kimberly-Clark Corp	COMPLIANT	0.38%	AAOIFI18.7% Usmani35.1% Dow Jones Islamic17.1% S&P Shariah17.0% MSCI Islamic35.1% MSCI Islamic M-Series17.0% FTSE Shariah35.1%
2702.T McDonald's Holdings Co Japan Ltd	COMPLIANT	0.37%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
IAG.AX Insurance Australia Group Ltd	NON_COMPLIANT	0.37%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
PGR Progressive Corp/The	NON_COMPLIANT	0.37%	AAOIFI6.5% Usmani6.7% Dow Jones Islamic6.3% S&P Shariah6.9% MSCI Islamic6.7% MSCI Islamic M-Series6.9% FTSE Shariah6.7%
BKT.MC Bankinter SA	NON_COMPLIANT	0.37%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
DUK Duke Energy Corp	NON_COMPLIANT	0.36%	AAOIFI95.1% Usmani45.3% Dow Jones Islamic98.9% S&P Shariah107.5% MSCI Islamic45.0% MSCI Islamic M-Series107.5% FTSE Shariah44.4%
ABT Abbott Laboratories	COMPLIANT	0.36%	AAOIFI19.2% Usmani31.9% Dow Jones Islamic17.6% S&P Shariah18.3% MSCI Islamic31.9% MSCI Islamic M-Series18.3% FTSE Shariah30.8%
HLN Haleon PLC	COMPLIANT	0.35%	AAOIFI27.2% Usmani26.4% Dow Jones Islamic13.2% S&P Shariah13.9% MSCI Islamic26.4% MSCI Islamic M-Series13.9% FTSE Shariah26.4%
ABBV AbbVie Inc	COMPLIANT	0.35%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail
SAMPO.HE Sampo Oyj	NON_COMPLIANT	0.35%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
WMB Williams Cos Inc/The	NON_COMPLIANT	0.33%	AAOIFI35.0% Usmani50.0% Dow Jones Islamic41.0% S&P Shariah47.9% MSCI Islamic50.0% MSCI Islamic M-Series47.9% FTSE Shariah50.0%
G24.DE Scout24 SE	COMPLIANT	0.32%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
UL Unilever PLC	COMPLIANT	0.29%	AAOIFI27.6% Usmani41.0% Dow Jones Islamic23.6% S&P Shariah24.9% MSCI Islamic39.2% MSCI Islamic M-Series24.9% FTSE Shariah39.2%
068270.KS Celltrion Inc	COMPLIANT	0.29%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
AZN AstraZeneca PLC	COMPLIANT	0.26%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
BOX Box Inc	COMPLIANT	0.26%	AAOIFI11.2% Usmani37.4% Dow Jones Islamic12.1% S&P Shariah12.6% MSCI Islamic37.4% MSCI Islamic M-Series12.6% FTSE Shariah32.2%
FE FirstEnergy Corp	NON_COMPLIANT	0.26%	AAOIFI101.8% Usmani48.1% Dow Jones Islamic111.3% S&P Shariah119.2% MSCI Islamic48.0% MSCI Islamic M-Series119.2% FTSE Shariah47.5%
1099.HK Sinopharm Group Co Ltd	NON_COMPLIANT	0.26%	AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
7751.T Canon Inc	COMPLIANT	0.26%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
WRB W R Berkley Corp	NON_COMPLIANT	0.25%	AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
DGX Quest Diagnostics Inc	COMPLIANT	0.24%	AAOIFI24.4% Usmani37.7% Dow Jones Islamic32.1% S&P Shariah35.4% MSCI Islamic37.7% MSCI Islamic M-Series35.4% FTSE Shariah33.3%
TEL2-B.ST Tele2 AB	COMPLIANT	0.24%	AAOIFI25.6% Usmani53.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic45.9% MSCI Islamic M-Seriesfail FTSE Shariah45.9%
V Visa Inc	COMPLIANT	0.24%	AAOIFI3.5% Usmani25.2% Dow Jones Islamic15.5% S&P Shariah16.7% MSCI Islamic25.2% MSCI Islamic M-Series16.7% FTSE Shariah25.2%
CAT Caterpillar Inc	COMPLIANT	0.23%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
011200.KS HMM Co Ltd	NON_COMPLIANT	0.22%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
AMXB.MX America Movil SAB de CV	NON_COMPLIANT	0.22%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
1088.HK China Shenhua Energy Co Ltd	COMPLIANT	0.21%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
9142.T Kyushu Railway Co	NON_COMPLIANT	0.21%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
LI.PA Klepierre SA	NON_COMPLIANT	0.21%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
TSLA Tesla Inc	COMPLIANT	0.21%	AAOIFI1.1% Usmani10.8% Dow Jones Islamic1.3% S&P Shariah1.5% MSCI Islamic10.6% MSCI Islamic M-Series1.5% FTSE Shariah6.1%
035420.KS NAVER Corp	COMPLIANT	0.21%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
INTU Intuit Inc	COMPLIANT	0.20%	AAOIFI9.9% Usmani22.9% Dow Jones Islamic5.4% S&P Shariah5.3% MSCI Islamic22.9% MSCI Islamic M-Series5.3% FTSE Shariah20.8%
N/A	UNSCREENED	0.20%	no in-house ratios for this holding
CASY Casey's General Stores Inc	NON_COMPLIANT	0.20%	AAOIFI13.4% Usmani31.8% Dow Jones Islamic13.9% S&P Shariah16.3% MSCI Islamic31.8% MSCI Islamic M-Series16.3% FTSE Shariah26.6%
AZO AutoZone Inc	COMPLIANT	0.19%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
Fortis Inc/Canada	UNSCREENED	0.19%	no in-house ratios for this holding
NEU NewMarket Corp	COMPLIANT	0.19%	AAOIFI11.5% Usmani26.0% Dow Jones Islamic15.1% S&P Shariah16.2% MSCI Islamic26.0% MSCI Islamic M-Series16.2% FTSE Shariah23.6%
TCL.AX Transurban Group	NON_COMPLIANT	0.18%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
WEC WEC Energy Group Inc	NON_COMPLIANT	0.18%	AAOIFI57.5% Usmani39.9% Dow Jones Islamic61.9% S&P Shariah68.5% MSCI Islamic39.1% MSCI Islamic M-Series68.5% FTSE Shariah39.1%
ESLT.TA Elbit Systems Ltd	NON_COMPLIANT	0.18%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
TSEM Tower Semiconductor Ltd	UNRATED	0.17%	AAOIFI0.7% Usmani6.1% Dow Jones Islamic1.5% S&P Shariah2.0% MSCI Islamic5.3% MSCI Islamic M-Series2.0% FTSE Shariah4.9%
SAP SAP SE	COMPLIANT	0.16%	AAOIFI3.5% Usmani13.0% Dow Jones Islamic3.1% S&P Shariah3.4% MSCI Islamic10.6% MSCI Islamic M-Series3.4% FTSE Shariah10.6%
DNB.OL DNB Bank ASA	NON_COMPLIANT	0.15%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
CHT Chunghwa Telecom Co Ltd	COMPLIANT	0.15%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
GALE.SW Galenica AG	COMPLIANT	0.14%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
8951.T Nippon Building Fund Inc	NON_COMPLIANT	0.14%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
ORKLY Orkla ASA	COMPLIANT	0.14%	AAOIFI16.7% Usmani21.1% Dow Jones Islamic16.5% S&P Shariah18.7% MSCI Islamic18.6% MSCI Islamic M-Series18.7% FTSE Shariah18.6%
BCVN.SW Banque Cantonale Vaudoise	NON_COMPLIANT	0.13%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
TRYG.CO Tryg A/S	NON_COMPLIANT	0.13%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
3968.HK China Merchants Bank Co Ltd	NON_COMPLIANT	0.13%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
ORCL Oracle Corp	NON_COMPLIANT	0.13%	AAOIFI34.1% Usmani64.0% Dow Jones Islamic30.7% S&P Shariah35.2% MSCI Islamic61.0% MSCI Islamic M-Series35.2% FTSE Shariah49.5%
CMS CMS Energy Corp	NON_COMPLIANT	0.13%	AAOIFI89.2% Usmani47.2% Dow Jones Islamic90.3% S&P Shariah98.1% MSCI Islamic46.5% MSCI Islamic M-Series98.1% FTSE Shariah46.5%
Service Corp International/US	UNSCREENED	0.13%	no in-house ratios for this holding
Check Point Software Technologies Ltd	UNSCREENED	0.12%	no in-house ratios for this holding
NYT New York Times Co/The	QUESTIONABLE	0.12%	AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
QCOM QUALCOMM Inc	COMPLIANT	0.12%	AAOIFI8.3% Usmani25.7% Dow Jones Islamic8.6% S&P Shariah8.7% MSCI Islamic25.7% MSCI Islamic M-Series8.7% FTSE Shariah25.7%
BDX Becton Dickinson & Co	NON_COMPLIANT	0.11%	AAOIFI33.4% Usmani33.1% Dow Jones Islamic30.8% S&P Shariah28.7% MSCI Islamic33.1% MSCI Islamic M-Series28.7% FTSE Shariah33.1%
0700.HK Tencent Holdings Ltd	COMPLIANT	0.11%	AAOIFIpass Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
1385.HK Shanghai Fudan Microelectronics Group Co Ltd	COMPLIANT	0.11%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass
L Loews Corp	NON_COMPLIANT	0.11%	AAOIFI40.0% Usmani10.2% Dow Jones Islamic44.3% S&P Shariah47.6% MSCI Islamic10.2% MSCI Islamic M-Series47.6% FTSE Shariah10.2%
DB HiTek Co Ltd	UNSCREENED	0.10%	no in-house ratios for this holding
TLKM.JK Telkom Indonesia Persero Tbk PT	NON_COMPLIANT	0.10%	AAOIFI30.2% Usmani34.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic26.2% MSCI Islamic M-Seriesfail FTSE Shariah26.2%
SW.PA Sodexo SA	NON_COMPLIANT	0.09%	AAOIFI64.9% Usmani40.9% Dow Jones Islamic— S&P Shariah— MSCI Islamic36.5% MSCI Islamic M-Series— FTSE Shariah36.5%
WMT Walmart Inc	QUESTIONABLE	0.09%	AAOIFI6.4% Usmani21.5% Dow Jones Islamic6.9% S&P Shariah8.0% MSCI Islamic19.2% MSCI Islamic M-Series8.0% FTSE Shariah13.6%
PETR3.SA Petroleo Brasileiro SA	NON_COMPLIANT	0.09%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass
018260.KS Samsung SDS Co Ltd	NON_COMPLIANT	0.09%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
Vanguard Cmt Funds-Vanguard Market Liquidity Fund	UNSCREENED	0.08%	no in-house ratios for this holding
AUTO.L Autotrader Group PLC	COMPLIANT	0.08%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
InnoScience Suzhou Technology Holding Co Ltd	UNSCREENED	0.08%	no in-house ratios for this holding
COLR.BR Colruyt Group N.V	COMPLIANT	0.08%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
WDC Western Digital Corp	COMPLIANT	0.08%	AAOIFI0.7% Usmani8.6% Dow Jones Islamic1.8% S&P Shariah2.3% MSCI Islamic8.6% MSCI Islamic M-Series2.3% FTSE Shariah7.6%
OBICY Obic Co Ltd	COMPLIANT	0.08%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
9831.T Yamada Holdings Co Ltd	NON_COMPLIANT	0.07%	AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass
APA.AX APA Group	NON_COMPLIANT	0.07%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
8952.T Japan Real Estate Investment Corp	NON_COMPLIANT	0.07%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
MRSH Marsh & McLennan Cos Inc	NON_COMPLIANT	0.07%	AAOIFI24.1% Usmani35.8% Dow Jones Islamic22.1% S&P Shariah22.2% MSCI Islamic35.8% MSCI Islamic M-Series22.2% FTSE Shariah32.7%
0392.HK Beijing Enterprises Holdings Ltd	NON_COMPLIANT	0.07%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
9602.T Toho Co Ltd/Tokyo	COMPLIANT	0.07%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
HEN.DE Henkel AG & Co KGaA	COMPLIANT	0.07%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
SNY Sanofi SA	COMPLIANT	0.06%	AAOIFI20.8% Usmani14.7% Dow Jones Islamic38.1% S&P Shariah38.6% MSCI Islamic14.7% MSCI Islamic M-Series38.6% FTSE Shariah14.7%
DSCT.TA Israel Discount Bank Ltd	NON_COMPLIANT	0.06%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
024110.KS Industrial Bank of Korea	NON_COMPLIANT	0.06%	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	0.06%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
TYL Tyler Technologies Inc	COMPLIANT	0.06%	AAOIFI9.8% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.2% MSCI Islamic25.0% MSCI Islamic M-Series7.2% FTSE Shariah24.2%
8953.T Japan Metropolitan Fund Invest	NON_COMPLIANT	0.05%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
0006.HK Power Assets Holdings Ltd	COMPLIANT	0.05%	AAOIFI2.6% Usmani3.4% Dow Jones Islamic— S&P Shariah— MSCI Islamic3.4% MSCI Islamic M-Series— FTSE Shariah3.4%
Doosan Tesna Inc	UNSCREENED	0.05%	no in-house ratios for this holding
CSL.AX CSL Ltd	COMPLIANT	0.05%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
ESSITY-B.ST Essity AB	COMPLIANT	0.05%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
EQNR Equinor ASA	NON_COMPLIANT	0.05%	AAOIFI2.5% Usmani18.0% Dow Jones Islamic32.5% S&P Shariah32.6% MSCI Islamic18.0% MSCI Islamic M-Series32.6% FTSE Shariah18.0%
600660.SS Fuyao Glass Industry Group Co Ltd	COMPLIANT	0.05%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass
N/A	UNSCREENED	0.05%	no in-house ratios for this holding
ARGX Argenx SE	COMPLIANT	0.05%	AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah—
N/A	UNSCREENED	0.05%	no in-house ratios for this holding
BATRA Atlanta Braves Holdings Inc	QUESTIONABLE	0.05%	AAOIFI23.7% Usmani51.1% Dow Jones Islamic26.4% S&P Shariah27.3% MSCI Islamic45.6% MSCI Islamic M-Series27.3% FTSE Shariah45.6%
CAH Cardinal Health Inc	COMPLIANT	0.04%	AAOIFI17.8% Usmani17.7% Dow Jones Islamic24.8% S&P Shariah28.7% MSCI Islamic17.4% MSCI Islamic M-Series28.7% FTSE Shariah15.5%
N/A	UNSCREENED	0.04%	no in-house ratios for this holding
IDCC InterDigital Inc	COMPLIANT	0.04%	AAOIFI4.6% Usmani18.3% Dow Jones Islamic6.0% S&P Shariah7.5% MSCI Islamic18.3% MSCI Islamic M-Series7.5% FTSE Shariah17.8%
Softcat PLC	UNSCREENED	0.04%	no in-house ratios for this holding
6448.T Brother Industries Ltd	COMPLIANT	0.04%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahpass
N/A	UNSCREENED	0.04%	no in-house ratios for this holding
FOX Fox Corp	NON_COMPLIANT	0.04%	AAOIFI29.1% Usmani33.7% Dow Jones Islamic14791428216.1% S&P Shariah17289936602.0% MSCI Islamic33.7% MSCI Islamic M-Series17289936602.0% FTSE Shariah29.4%
SOL.AX Washington H Soul Pattinson & Co Ltd	NON_COMPLIANT	0.04%	AAOIFI5.4% Usmani10.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic9.0% MSCI Islamic M-Seriesfail FTSE Shariah9.0%
FIBI.TA First International Bank Of Israel Ltd/The	NON_COMPLIANT	0.04%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
N/A	UNSCREENED	0.04%	no in-house ratios for this holding
PSPN.SW PSP Swiss Property AG	NON_COMPLIANT	0.04%	AAOIFI51.4% Usmani33.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic33.1% MSCI Islamic M-Seriesfail FTSE Shariah33.1%
ISC Co Ltd	UNSCREENED	0.03%	no in-house ratios for this holding
TEL.OL Telenor ASA	NON_COMPLIANT	0.03%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
RY Royal Bank of Canada	COMPLIANT	0.03%	AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
ENSG Ensign Group Inc/The	COMPLIANT	0.03%	AAOIFI22.6% Usmani39.1% Dow Jones Islamic24.0% S&P Shariah26.7% MSCI Islamic39.1% MSCI Islamic M-Series26.7% FTSE Shariah2.4%
1721.T COMSYS Holdings Corp	COMPLIANT	0.03%	AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahpass
4768.T Otsuka Corp	COMPLIANT	0.03%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail
8972.T KDX Realty Investment Corp	NON_COMPLIANT	0.03%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
Kinaxis Inc	UNSCREENED	0.03%	no in-house ratios for this holding
TCELL.IS Turkcell Iletisim Hizmetleri AS	NON_COMPLIANT	0.03%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
ENLT.TA Enlight Renewable Energy Ltd	NON_COMPLIANT	0.03%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
Fadu Inc	UNSCREENED	0.03%	no in-house ratios for this holding
NVMI Nova Ltd	UNRATED	0.03%	AAOIFI6.8% Usmani33.9% Dow Jones Islamic8.7% S&P Shariah10.3% MSCI Islamic33.9% MSCI Islamic M-Series10.3% FTSE Shariah31.0%
OPCE.TA OPC Energy Ltd	COMPLIANT	0.02%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
O Realty Income Corp	NON_COMPLIANT	0.02%	AAOIFI3.5% Usmani2.6% Dow Jones Islamic4.0% S&P Shariah4.3% MSCI Islamic2.6% MSCI Islamic M-Series4.3% FTSE Shariah2.6%
3462.T Nomura Real Estate Master Fund Inc	NON_COMPLIANT	0.02%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
4732.T USS Co Ltd	COMPLIANT	0.02%	AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail
3281.T GLP J-Reit	NON_COMPLIANT	0.02%	AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail
FUJIY FUJIFILM Holdings Corp	COMPLIANT	0.02%	AAOIFI25.3% Usmani19.1% Dow Jones Islamic48.5% S&P Shariah48.9% MSCI Islamic17.0% MSCI Islamic M-Series48.9% FTSE Shariah17.0%
AME AMETEK Inc	COMPLIANT	0.02%	AAOIFI4.2% Usmani13.9% Dow Jones Islamic5.1% S&P Shariah5.4% MSCI Islamic13.9% MSCI Islamic M-Series5.4% FTSE Shariah12.3%
9076.T Seino Holdings Co Ltd	COMPLIANT	0.02%	AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass
SHO-BOND Holdings Co Ltd	UNSCREENED	0.02%	no in-house ratios for this holding
N/A	UNSCREENED	0.02%	no in-house ratios for this holding
U11.SI United Overseas Bank Ltd	NON_COMPLIANT	0.02%	AAOIFI65.6% Usmani7.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic7.9% MSCI Islamic M-Seriesfail FTSE Shariah7.9%
N/A	UNSCREENED	0.01%	no in-house ratios for this holding
Jusung Engineering Co Ltd	UNSCREENED	0.01%	no in-house ratios for this holding
N/A	UNSCREENED	0.01%	no in-house ratios for this holding
N/A	UNSCREENED	0.01%	no in-house ratios for this holding
N/A	UNSCREENED	0.01%	no in-house ratios for this holding
N/A	UNSCREENED	0.01%	no in-house ratios for this holding
N/A	UNSCREENED	0.01%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding
N/A	UNSCREENED	0.00%	no in-house ratios for this holding

The published standards disagree about this fund by 21 points of portfolio weight — 55.1% of it passes AAOIFI, 33.9% 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.

Screen by

ratios pass on 55.1% ratios fail on 30.7% 15.0% not rated under AAOIFI

193 of 252 listed holdings carry our own per-methodology verdicts (95% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 109 (66% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.

Non-compliant holding	Weight
SHEL Shell PLC	1.49%
LMT Lockheed Martin Corp	1.40%
ICICIBANK.NS ICICI Bank Ltd	1.38%
ORA.PA Orange SA	1.34%
RTX RTX Corp	1.33%
MCD McDonald's Corp	1.29%
WTM White Mountains Insurance Group Ltd	1.18%
ROP Roper Technologies Inc	1.18%
NOC Northrop Grumman Corp	1.15%
BN.PA Danone SA	1.09%

🕌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.

VANGUARD GLOBAL MINIMUM VOLATILITY FUND (VMNVX) 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.

49.2%Compliant 4.1%Questionable 41.9%Non-compliant 5.4%Not screened 0.2%Screened, not rated

Holding	Weight	Verdict
MSFTMicrosoft Corp	1.83%	Questionable
KOCoca-Cola Co/The	1.63%	Compliant
CSCOCisco Systems Inc	1.50%	Compliant
SHELShell PLC	1.49%	Non-compliant
TSMTaiwan Semiconductor Manufacturing Co Ltd	1.46%	Compliant
WMWaste Management Inc	1.45%	Compliant
MSIMotorola Solutions Inc	1.44%	Compliant
CPG.LCompass Group PLC	1.43%	Compliant
CHDChurch & Dwight Co Inc	1.43%	Compliant
RSGRepublic Services Inc	1.41%	Compliant

Top 10 of 252 holdings, 15.1% 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.

MSFTquestionable1.83%
SHELnon-compliant1.49%
LMTnon-compliant1.40%
ICICIBANK.NSnon-compliant1.38%
ORA.PAnon-compliant1.34%
RTXnon-compliant1.33%

What changed, and when

Verdict history for VMNVX. 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 VMNVX 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 3 days - this is not a reading of today

Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset

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

34.09 – 34.59

±0.72% from 34.34, made 2026-09-11 · resolves 2026-09-18

SELL

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 BUY

19 indicators

OscillatorsNEUTRAL

3 buy · 1 neutral · 3 sell

Moving averagesSTRONG BUY

12 buy · 0 neutral · 0 sell

Every indicator, and what it reads

Indicator	Value	Signal
RSI (14)	57.80	NEUTRAL
Stochastic %K (14)	100.00	SELL
CCI (20)	138.61	SELL
Williams %R (14)	0.00	SELL
MACD (12,26,9)	0.07	BUY
ROC (10)	1.43	BUY
Momentum (10)	0.49	BUY
EMA (10)	34.55	BUY
SMA (10)	34.44	BUY
EMA (20)	34.53	BUY
SMA (20)	34.46	BUY
EMA (30)	34.56	BUY
SMA (30)	34.55	BUY
EMA (50)	34.58	BUY
SMA (50)	34.77	BUY
EMA (100)	34.35	BUY
SMA (100)	34.53	BUY
EMA (200)	33.58	BUY
SMA (200)	33.71	BUY

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.

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