Verdicts genuinely change. Free email alert the moment VNM'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.
VanEck Vietnam ETF ETF · VanEck ETF Trust
57 holdings · as of 2026-06-30 (3.4 months ago) The fund may have traded since. SEC Form N-PORT is filed quarterly and lags the period it covers, so these are the most recent holdings on file, not the fund’s holdings today.
NON-COMPLIANT At least 48.20% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 32% turns out to be. Matching more holdings can only raise this share, never lower it.
57 holdings, 21 matched (68% of weight). Portfolio as of 2026-06-30, filed 2026-08-26. Source: SEC Form N-PORT.
11.00% of this portfolio’s income is non-permissible — weighted across holdings, computed over 54% of portfolio weight (15 of 57 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 |
|---|---|---|---|
| VIC.VN Vingroup JSC | COMPLIANT | 8.78% | AAOIFI18.4% Usmani30.3% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic30.3% MSCI Islamic M-Seriesfail FTSE Shariah30.3% |
| VHM.VN Vinhomes JSC | NON_COMPLIANT | 8.09% | AAOIFI47.8% Usmani18.6% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic18.6% MSCI Islamic M-Seriesfail FTSE Shariah18.6% |
| MSN.VN Masan Group Corp | NON_COMPLIANT | 5.76% | AAOIFI65.4% Usmani50.5% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic50.3% MSCI Islamic M-Seriesfail FTSE Shariah50.3% |
| MCH.VN Masan Consumer Corp | COMPLIANT | 5.14% | AAOIFI5.2% Usmani28.3% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic28.3% MSCI Islamic M-Seriespass FTSE Shariah28.3% |
| VCB.VN Bank for Foreign Trade of Vietnam JSC | NON_COMPLIANT | 4.95% | AAOIFI8.8% Usmani1.8% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic1.8% MSCI Islamic M-Seriesfail FTSE Shariah1.8% |
| HPG.VN Hoa Phat Group JSC | NON_COMPLIANT | 4.68% | AAOIFI55.0% Usmani35.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic35.7% MSCI Islamic M-Seriesfail FTSE Shariah35.7% |
| VNM.VN Vietnam Dairy Products JSC | COMPLIANT | 4.57% | AAOIFI7.4% Usmani17.7% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic17.7% MSCI Islamic M-Seriespass FTSE Shariah17.7% |
| SSI.VN SSI Securities Corp | NON_COMPLIANT | 4.32% | AAOIFI96.1% Usmani64.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic64.0% MSCI Islamic M-Seriesfail FTSE Shariah64.0% |
| VPS Securities JSC | UNSCREENED | 4.06% | no in-house ratios for this holding |
| VIX Securities JSC | UNSCREENED | 3.63% | no in-house ratios for this holding |
| VJC.VN Vietjet Aviation JSC | NON_COMPLIANT | 2.45% | AAOIFI71.8% Usmani51.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic49.5% MSCI Islamic M-Seriesfail FTSE Shariah49.5% |
| FPT Corp | UNSCREENED | 2.39% | no in-house ratios for this holding |
| STB.VN Saigon Treasure Commercial JSB | NON_COMPLIANT | 2.38% | AAOIFI30.2% Usmani4.8% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic4.8% MSCI Islamic M-Seriesfail FTSE Shariah4.8% |
| TCX.VN Techcom Securities JSC | NON_COMPLIANT | 2.34% | AAOIFI31.0% Usmani42.3% Dow Jones Islamic— S&P Shariah— MSCI Islamic42.3% MSCI Islamic M-Series— FTSE Shariah42.3% |
| Vincom Retail JSC | UNSCREENED | 2.28% | no in-house ratios for this holding |
| VCI.VN Vietcap Securities JSC | NON_COMPLIANT | 2.16% | AAOIFI64.5% Usmani44.6% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic44.6% MSCI Islamic M-Seriesfail FTSE Shariah44.6% |
| VPL.VN Vinpearl JSC | NON_COMPLIANT | 2.15% | AAOIFI8.0% Usmani13.3% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic13.3% MSCI Islamic M-Seriesfail FTSE Shariah13.3% |
| VND.VN VNDirect Securities Corp | NON_COMPLIANT | 1.90% | AAOIFI117.9% Usmani55.6% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic55.6% MSCI Islamic M-Seriesfail FTSE Shariah55.6% |
| GEX.VN Gelex Group JSC | NON_COMPLIANT | 1.64% | AAOIFI85.9% Usmani39.3% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic39.2% MSCI Islamic M-Seriesfail FTSE Shariah39.2% |
| SHB.VN Saigon - Hanoi Commercial Joint Stock Bank | NON_COMPLIANT | 1.63% | AAOIFI144.4% Usmani9.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic9.0% MSCI Islamic M-Seriesfail FTSE Shariah9.0% |
| Gelex Electric Equipment JSC | UNSCREENED | 1.35% | no in-house ratios for this holding |
| NVL.VN Novaland Investment Group Corp | NON_COMPLIANT | 1.25% | AAOIFI217.4% Usmani27.4% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic27.2% MSCI Islamic M-Seriesfail FTSE Shariah27.2% |
| Kinh Bac City Development Holding Corp | UNSCREENED | 1.12% | no in-house ratios for this holding |
| MSB.VN Vietnam Maritime Commercial JSB | NON_COMPLIANT | 1.11% | AAOIFI166.9% Usmani20.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic20.2% MSCI Islamic M-Seriesfail FTSE Shariah20.2% |
| VP Bank Securities Ltd Co | UNSCREENED | 1.02% | no in-house ratios for this holding |
| EIB.VN Vietnam Export Import Commercial JSB | NON_COMPLIANT | 1.01% | AAOIFI96.6% Usmani11.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic11.0% MSCI Islamic M-Seriesfail FTSE Shariah11.0% |
| HAGL JSC | UNSCREENED | 0.87% | no in-house ratios for this holding |
| PetroVietnam Power Corp | UNSCREENED | 0.86% | no in-house ratios for this holding |
| Thanh Thanh Cong - Bien Hoa JSC | UNSCREENED | 0.82% | no in-house ratios for this holding |
| Duc Giang Chemicals JSC | UNSCREENED | 0.76% | no in-house ratios for this holding |
| Nam A Commercial JSB | UNSCREENED | 0.75% | no in-house ratios for this holding |
| Van Phu Real estate development JSC | UNSCREENED | 0.73% | no in-house ratios for this holding |
| Tasco JSC | UNSCREENED | 0.73% | no in-house ratios for this holding |
| PetroVietnam Drilling & Well Services JSC | UNSCREENED | 0.69% | no in-house ratios for this holding |
| Sai Gon-Ha Noi Securities JSC | UNSCREENED | 0.63% | no in-house ratios for this holding |
| PetroVietnam Technical Services Corp | UNSCREENED | 0.63% | no in-house ratios for this holding |
| Vinh Hoan Corp | UNSCREENED | 0.60% | no in-house ratios for this holding |
| Phat Dat Real Estate Development Corp | UNSCREENED | 0.60% | no in-house ratios for this holding |
| Vietnam Construction and Import-Export JSC | UNSCREENED | 0.60% | no in-house ratios for this holding |
| Bao Viet Holdings | UNSCREENED | 0.59% | no in-house ratios for this holding |
| Saigon Beer Alcohol Beverage Corp | UNSCREENED | 0.59% | no in-house ratios for this holding |
| Khang Dien House Trading and Investment JSC | UNSCREENED | 0.58% | no in-house ratios for this holding |
| HVN.VN Vietnam Airlines JSC | COMPLIANT | 0.56% | AAOIFI19.2% Usmani22.9% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic17.9% MSCI Islamic M-Seriespass FTSE Shariah17.9% |
| Sai Gon VRG Investment Corp | UNSCREENED | 0.54% | no in-house ratios for this holding |
| FPT Securities JSC | UNSCREENED | 0.52% | no in-house ratios for this holding |
| Petrovietnam Fertilizer & Chemicals JSC | UNSCREENED | 0.50% | no in-house ratios for this holding |
| IDICO Corp JSC | UNSCREENED | 0.49% | no in-house ratios for this holding |
| Hoang Huy Investment Financial Services JSC | UNSCREENED | 0.49% | no in-house ratios for this holding |
| BAF Viet Nam Agriculture JSC | UNSCREENED | 0.48% | no in-house ratios for this holding |
| KIDO Group Corp | UNSCREENED | 0.48% | no in-house ratios for this holding |
| Development Investment Construction JSC | UNSCREENED | 0.44% | no in-house ratios for this holding |
| PetroVietNam Ca Mau Fertilizer JSC | UNSCREENED | 0.42% | no in-house ratios for this holding |
| Hoa Sen Group | UNSCREENED | 0.40% | no in-house ratios for this holding |
| DXG.VN Bluemarq Group JSC | NON_COMPLIANT | 0.40% | AAOIFI33.5% Usmani12.6% Dow Jones Islamicpass S&P Shariahfail MSCI Islamic12.6% MSCI Islamic M-Seriesfail FTSE Shariah12.6% |
| CEO Group JSC | UNSCREENED | 0.38% | no in-house ratios for this holding |
| Ha Do Group JSC | UNSCREENED | 0.02% | no in-house ratios for this holding |
| DCVFMVN Diamond ETF | UNSCREENED | 0.02% | no in-house ratios for this holding |
The published standards disagree about this fund by 9 points of portfolio weight — 19.0% of it passes AAOIFI, 9.7% 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 19.0% ratios fail on 48.2% 32.1% not rated under AAOIFI
ratios pass on 9.7% ratios fail on 57.5% 32.1% not rated under Usmani
ratios pass on 10.7% ratios fail on 54.2% 34.4% not rated under Dow Jones Islamic
ratios pass on 10.3% ratios fail on 54.6% 34.4% not rated under S&P Shariah
ratios pass on 9.7% ratios fail on 57.5% 32.1% not rated under MSCI Islamic
ratios pass on 10.3% ratios fail on 54.6% 34.4% not rated under MSCI Islamic M-Series
ratios pass on 9.7% ratios fail on 57.5% 32.1% not rated under FTSE Shariah
21 of 57 listed holdings carry our own per-methodology verdicts (67% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none.
| Non-compliant holding | Weight |
|---|---|
| VHM.VN Vinhomes JSC | 8.09% |
| MSN.VN Masan Group Corp | 5.76% |
| VCB.VN Bank for Foreign Trade of Vietnam JSC | 4.95% |
| HPG.VN Hoa Phat Group JSC | 4.68% |
| SSI.VN SSI Securities Corp | 4.32% |
| VJC.VN Vietjet Aviation JSC | 2.45% |
| STB.VN Saigon Treasure Commercial JSB | 2.38% |
| TCX.VN Techcom Securities JSC | 2.34% |
| VCI.VN Vietcap Securities JSC | 2.16% |
| VPL.VN Vinpearl JSC | 2.15% |
Methodology breakdown computing — it will appear here on its own.
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
VanEck Vietnam ETF (VNM) 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.
Computing the full ratio and business-activity breakdown for VNM — this runs off the critical path so the page paints first. It will appear here on its own.
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.
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) | 37.00 | NEUTRAL |
| Stochastic %K (14) | 11.76 | BUY |
| CCI (20) | -107.32 | BUY |
| Williams %R (14) | -88.24 | BUY |
| MACD (12,26,9) | -0.04 | SELL |
| ROC (10) | -3.19 | SELL |
| Momentum (10) | -0.55 | SELL |
| EMA (10) | 16.90 | SELL |
| SMA (10) | 16.88 | SELL |
| EMA (20) | 17.10 | SELL |
| SMA (20) | 17.14 | SELL |
| EMA (30) | 17.23 | SELL |
| SMA (30) | 17.42 | SELL |
| EMA (50) | 17.38 | SELL |
| SMA (50) | 17.47 | SELL |
| EMA (100) | 17.63 | SELL |
| SMA (100) | 17.71 | SELL |
| EMA (200) | 17.93 | SELL |
| SMA (200) | 18.12 | SELL |
The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index includes securities of Vietnamese companies. A company is generally considered to be a Vietnamese company if it is incorporated in Vietnam. It is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
No real edge — avoid
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
| Timeframe | Bias | Bars |
|---|---|---|
| 📅 Daily | BEARISH | 42 |
| ⏰ 4H | BEARISH | 36 |
| 🕐 1H | BEARISH | 98 |
| ⏱ 15-Min | RANGING | 130 |
| ⏲ 5-Min | BULLISH | 234 |
Rate of change and relative volume against this symbol's own recent history. Momentum describes what price has done; it is not a claim about what it will do.
How the rest of the sector moved over the same window. Context for a price move, never a cause of one.
Peer movement computing — it will appear here on its own.
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.
Insider transactions reported in the last ninety days. Insiders sell for reasons that have nothing to do with a view, so a sale on its own is not a signal.
NO DATA 0 buys · 0 sells
The weekly CFTC Commitments of Traders report for the broad market it tracks, not for this symbol. Positioning context for the tape — it says nothing about this company.
NEUTRAL report date 2026-10-06 · Asset managers net 906615 (+2612)
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.