Verdicts genuinely change. Free email alert the moment XSW'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.
State Street(R) SPDR(R) S&P(R) Software & Services ETF ETF · SPDR SERIES TRUST
136 holdings · as of 2026-06-30 (3.5 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.
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 110% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 22.96% of portfolio weight is in non-compliant holdings, over the 5% threshold.
136 holdings, 117 matched (80% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.
3.92% of this portfolio’s income is non-permissible — weighted across holdings, computed over 68% of portfolio weight (99 of 136 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.
56.6% compliant 2.7% questionable 20.9% non-compliant 19.8% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| State Street Global Advisors | UNSCREENED | 9.95% | no in-house ratios for this holding |
| PRCH Porch Group Inc | COMPLIANT | 1.17% | AAOIFI21.3% Usmani49.5% Dow Jones Islamic35.2% S&P Shariah48.3% MSCI Islamic49.5% MSCI Islamic M-Series48.3% FTSE Shariah49.5% |
| AIP Arteris Inc | COMPLIANT | 1.06% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| TENB Tenable Holdings Inc | COMPLIANT | 1.01% | AAOIFI1.8% Usmani4.2% Dow Jones Islamic1.8% S&P Shariah1.6% MSCI Islamic4.2% MSCI Islamic M-Series1.6% FTSE Shariah0.0% |
| RBLX ROBLOX Corp | COMPLIANT | 0.96% | AAOIFI5.7% Usmani18.8% Dow Jones Islamic3.5% S&P Shariah4.2% MSCI Islamic18.8% MSCI Islamic M-Series4.2% FTSE Shariah10.4% |
| PANW Palo Alto Networks Inc | COMPLIANT | 0.95% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| PAR Technology Corp | UNSCREENED | 0.94% | no in-house ratios for this holding |
| NTSK Netskope Inc | COMPLIANT | 0.94% | AAOIFI12.9% Usmani42.8% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic42.8% MSCI Islamic M-Seriespass FTSE Shariah40.8% |
| VRNS Varonis Systems Inc | NON_COMPLIANT | 0.93% | AAOIFI11.5% Usmani31.9% Dow Jones Islamic10.8% S&P Shariah10.9% MSCI Islamic31.9% MSCI Islamic M-Series10.9% FTSE Shariah27.3% |
| Digital Turbine Inc | UNSCREENED | 0.92% | no in-house ratios for this holding |
| MITK Mitek Systems Inc | COMPLIANT | 0.92% | AAOIFI6.2% Usmani14.0% Dow Jones Islamic10.0% S&P Shariah9.8% MSCI Islamic14.0% MSCI Islamic M-Series9.8% FTSE Shariah13.4% |
| QLYS Qualys Inc | COMPLIANT | 0.91% | AAOIFI0.9% Usmani5.0% Dow Jones Islamic1.1% S&P Shariah1.0% MSCI Islamic5.0% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
| LIF Life360 Inc | COMPLIANT | 0.90% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariahpass MSCI Islamic0.0% MSCI Islamic M-Seriespass FTSE Shariah0.0% |
| Yext Inc | UNSCREENED | 0.90% | no in-house ratios for this holding |
| ALKT Alkami Technology Inc | COMPLIANT | 0.88% | AAOIFIpass Usmani— Dow Jones Islamicpass S&P Shariahpass MSCI Islamic— MSCI Islamic M-Seriespass FTSE Shariah— |
| TTWO Take-Two Interactive Software Inc | QUESTIONABLE | 0.87% | AAOIFI7.4% Usmani32.6% Dow Jones Islamic7.5% S&P Shariah8.5% MSCI Islamic32.6% MSCI Islamic M-Series8.5% FTSE Shariah27.9% |
| CRWD Crowdstrike Holdings Inc | COMPLIANT | 0.86% | AAOIFI0.4% Usmani6.8% Dow Jones Islamic0.7% S&P Shariah0.8% MSCI Islamic6.8% MSCI Islamic M-Series0.8% FTSE Shariah6.2% |
| ATEN A10 Networks Inc | COMPLIANT | 0.86% | AAOIFI12.7% Usmani33.4% Dow Jones Islamic15.5% S&P Shariah17.5% MSCI Islamic33.4% MSCI Islamic M-Series17.5% FTSE Shariah32.4% |
| VYX NCR Voyix Corp | NON_COMPLIANT | 0.86% | AAOIFI116.7% Usmani34.1% Dow Jones Islamic87.4% S&P Shariah73.7% MSCI Islamic34.1% MSCI Islamic M-Series73.7% FTSE Shariah28.6% |
| Cipher Digital Inc | UNSCREENED | 0.85% | no in-house ratios for this holding |
| ACIW ACI Worldwide Inc | COMPLIANT | 0.84% | AAOIFI16.0% Usmani27.4% Dow Jones Islamic16.8% S&P Shariah18.8% MSCI Islamic27.4% MSCI Islamic M-Series18.8% FTSE Shariah26.6% |
| S SentinelOne Inc | COMPLIANT | 0.84% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| AGYS Agilysys Inc | COMPLIANT | 0.84% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahpass |
| DDOG Datadog Inc | NON_COMPLIANT | 0.84% | AAOIFI1.7% Usmani16.9% Dow Jones Islamic2.4% S&P Shariah2.6% MSCI Islamic16.9% MSCI Islamic M-Series2.6% FTSE Shariah13.1% |
| Daily Journal Corp | UNSCREENED | 0.83% | no in-house ratios for this holding |
| CRNC Cerence Inc | NON_COMPLIANT | 0.83% | AAOIFI50.1% Usmani30.1% Dow Jones Islamic46.6% S&P Shariah42.6% MSCI Islamic30.1% MSCI Islamic M-Series42.6% FTSE Shariah27.9% |
| RIOT Riot Platforms Inc | COMPLIANT | 0.83% | AAOIFI10.7% Usmani26.9% Dow Jones Islamic16.7% S&P Shariah20.0% MSCI Islamic26.9% MSCI Islamic M-Series20.0% FTSE Shariah25.8% |
| ZS Zscaler Inc | COMPLIANT | 0.83% | AAOIFI7.7% Usmani23.6% Dow Jones Islamic5.6% S&P Shariah5.9% MSCI Islamic23.6% MSCI Islamic M-Series5.9% FTSE Shariah21.6% |
| CVLT Commvault Systems Inc | COMPLIANT | 0.83% | AAOIFI16.2% Usmani48.5% Dow Jones Islamic14.5% S&P Shariah16.3% MSCI Islamic48.5% MSCI Islamic M-Series16.3% FTSE Shariah46.7% |
| AUR Aurora Innovation Inc | COMPLIANT | 0.82% | AAOIFI0.6% Usmani3.8% Dow Jones Islamic2.2% S&P Shariah2.6% MSCI Islamic3.8% MSCI Islamic M-Series2.6% FTSE Shariah0.0% |
| RBRK Rubrik Inc | COMPLIANT | 0.82% | AAOIFI5.9% Usmani40.4% Dow Jones Islamic8.1% S&P Shariahpass MSCI Islamic40.4% MSCI Islamic M-Seriespass FTSE Shariah39.8% |
| RPD Rapid7 Inc | NON_COMPLIANT | 0.82% | AAOIFI9.1% Usmani3.9% Dow Jones Islamic4.9% S&P Shariah3.6% MSCI Islamic3.9% MSCI Islamic M-Series3.6% FTSE Shariah0.0% |
| BILL BILL Holdings Inc | NON_COMPLIANT | 0.82% | AAOIFI45.5% Usmani18.6% Dow Jones Islamic36.1% S&P Shariah31.5% MSCI Islamic18.6% MSCI Islamic M-Series31.5% FTSE Shariah18.0% |
| IDCC InterDigital Inc | COMPLIANT | 0.82% | AAOIFI4.6% Usmani18.3% Dow Jones Islamic6.0% S&P Shariah7.5% MSCI Islamic18.3% MSCI Islamic M-Series7.5% FTSE Shariah17.8% |
| AMPL Amplitude Inc | COMPLIANT | 0.81% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| FTNT Fortinet Inc | COMPLIANT | 0.81% | AAOIFI0.4% Usmani4.6% Dow Jones Islamic0.7% S&P Shariah0.8% MSCI Islamic4.6% MSCI Islamic M-Series0.8% FTSE Shariah4.6% |
| MARA MARA Holdings Inc | NON_COMPLIANT | 0.80% | AAOIFI59.2% Usmani56.7% Dow Jones Islamic48.0% S&P Shariah50.6% MSCI Islamic56.6% MSCI Islamic M-Series50.6% FTSE Shariah55.6% |
| CCC CCC Intelligent Solutions Holdings Inc | NON_COMPLIANT | 0.80% | AAOIFI34.2% Usmani37.6% Dow Jones Islamic24.8% S&P Shariah22.4% MSCI Islamic37.6% MSCI Islamic M-Series22.4% FTSE Shariah36.0% |
| PD PagerDuty Inc | NON_COMPLIANT | 0.80% | AAOIFI40.7% Usmani45.5% Dow Jones Islamic34.3% S&P Shariah28.6% MSCI Islamic45.5% MSCI Islamic M-Series28.6% FTSE Shariah43.9% |
| HUT Hut 8 Corp | NON_COMPLIANT | 0.80% | AAOIFI3.8% Usmani4.4% Dow Jones Islamic9.3% S&P Shariah12.7% MSCI Islamic4.4% MSCI Islamic M-Series12.7% FTSE Shariah4.1% |
| QTWO Q2 Holdings Inc | COMPLIANT | 0.80% | AAOIFI1.1% Usmani4.2% Dow Jones Islamic0.9% S&P Shariah1.0% MSCI Islamic4.2% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
| DT Dynatrace Inc | COMPLIANT | 0.79% | AAOIFI1.1% Usmani3.9% Dow Jones Islamic1.1% S&P Shariah1.1% MSCI Islamic3.9% MSCI Islamic M-Series1.1% FTSE Shariah0.0% |
| FRSH Freshworks Inc | COMPLIANT | 0.79% | AAOIFI1.0% Usmani2.3% Dow Jones Islamic1.0% S&P Shariah0.9% MSCI Islamic2.3% MSCI Islamic M-Series0.9% FTSE Shariah0.0% |
| WEAV Weave Communications Inc | COMPLIANT | 0.78% | AAOIFIpass Usmani— Dow Jones Islamicpass S&P Shariahpass MSCI Islamic— MSCI Islamic M-Seriespass FTSE Shariah— |
| YOU Clear Secure Inc | COMPLIANT | 0.78% | AAOIFI1.5% Usmani7.0% Dow Jones Islamic2.3% S&P Shariah2.8% MSCI Islamic7.0% MSCI Islamic M-Series2.8% FTSE Shariah0.0% |
| U Unity Software Inc | COMPLIANT | 0.78% | AAOIFI0.5% Usmani1.3% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.3% MSCI Islamic M-Series0.7% FTSE Shariah0.0% |
| GTLB Gitlab Inc | COMPLIANT | 0.78% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| Sprout Social Inc | UNSCREENED | 0.78% | no in-house ratios for this holding |
| ADEA Adeia Inc | COMPLIANT | 0.78% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| IIIV I3 Verticals Inc | NON_COMPLIANT | 0.78% | AAOIFI28.5% Usmani19.0% Dow Jones Islamic17.4% S&P Shariah18.2% MSCI Islamic19.0% MSCI Islamic M-Series18.2% FTSE Shariah18.2% |
| WULF Terawulf Inc | NON_COMPLIANT | 0.78% | AAOIFI35.4% Usmani38.9% Dow Jones Islamic65.9% S&P Shariah91.8% MSCI Islamic38.9% MSCI Islamic M-Series91.8% FTSE Shariah38.6% |
| NCNO nCino Inc | COMPLIANT | 0.78% | AAOIFI12.3% Usmani21.5% Dow Jones Islamic9.7% S&P Shariah9.1% MSCI Islamic18.3% MSCI Islamic M-Series9.1% FTSE Shariah17.5% |
| BTBT Bit Digital Inc | NON_COMPLIANT | 0.77% | AAOIFI20.2% Usmani9.7% Dow Jones Islamic20.7% S&P Shariah25.1% MSCI Islamic9.7% MSCI Islamic M-Series25.1% FTSE Shariah8.4% |
| INTA Intapp Inc | COMPLIANT | 0.77% | AAOIFI0.7% Usmani3.0% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic3.0% MSCI Islamic M-Series0.7% FTSE Shariah0.0% |
| GWRE Guidewire Software Inc | QUESTIONABLE | 0.77% | AAOIFI3.2% Usmani16.9% Dow Jones Islamic2.8% S&P Shariah3.2% MSCI Islamic16.9% MSCI Islamic M-Series3.2% FTSE Shariah15.5% |
| Progress Software Corp | UNSCREENED | 0.77% | no in-house ratios for this holding |
| RDVT Red Violet Inc | COMPLIANT | 0.77% | AAOIFI0.2% Usmani2.2% Dow Jones Islamic0.4% S&P Shariah0.5% MSCI Islamic2.2% MSCI Islamic M-Series0.5% FTSE Shariah0.0% |
| Teradata Corp | UNSCREENED | 0.77% | no in-house ratios for this holding |
| APP AppLovin Corp | COMPLIANT | 0.76% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| AVPT AvePoint Inc | COMPLIANT | 0.76% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| Blackbaud Inc | UNSCREENED | 0.76% | no in-house ratios for this holding |
| KVYO Klaviyo Inc | COMPLIANT | 0.76% | AAOIFI2.2% Usmani8.2% Dow Jones Islamic1.3% S&P Shariah1.3% MSCI Islamic8.2% MSCI Islamic M-Series1.3% FTSE Shariah0.0% |
| IBM International Business Machines Corp | COMPLIANT | 0.75% | AAOIFI29.5% Usmani42.9% Dow Jones Islamic28.2% S&P Shariah32.2% MSCI Islamic42.9% MSCI Islamic M-Series32.2% FTSE Shariah40.8% |
| QBTS D-Wave Quantum Inc | NON_COMPLIANT | 0.75% | AAOIFI0.8% Usmani4.1% Dow Jones Islamic0.9% S&P Shariah1.4% MSCI Islamic4.1% MSCI Islamic M-Series1.4% FTSE Shariah3.0% |
| Blend Labs Inc | UNSCREENED | 0.75% | no in-house ratios for this holding |
| SPSC SPS Commerce Inc | COMPLIANT | 0.75% | AAOIFI0.2% Usmani0.6% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.6% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| NTNX Nutanix Inc | COMPLIANT | 0.75% | AAOIFI8.3% Usmani30.0% Dow Jones Islamic9.2% S&P Shariah9.9% MSCI Islamic29.9% MSCI Islamic M-Series9.9% FTSE Shariah26.6% |
| BlackLine Inc | UNSCREENED | 0.74% | no in-house ratios for this holding |
| OSPN OneSpan Inc | COMPLIANT | 0.74% | AAOIFI0.3% Usmani0.5% Dow Jones Islamic0.4% S&P Shariah0.4% MSCI Islamic0.5% MSCI Islamic M-Series0.4% FTSE Shariah0.0% |
| ROP Roper Technologies Inc | NON_COMPLIANT | 0.74% | AAOIFI28.1% Usmani32.2% Dow Jones Islamic22.5% S&P Shariah21.7% MSCI Islamic32.2% MSCI Islamic M-Series21.7% FTSE Shariah32.2% |
| ALRM Alarm.com Holdings Inc | COMPLIANT | 0.74% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| TRMB Trimble Inc | COMPLIANT | 0.74% | AAOIFI10.6% Usmani17.1% Dow Jones Islamic8.8% S&P Shariah9.4% MSCI Islamic17.1% MSCI Islamic M-Series9.4% FTSE Shariah17.1% |
| PATH UiPath Inc | COMPLIANT | 0.74% | AAOIFI1.1% Usmani2.7% Dow Jones Islamic1.2% S&P Shariah1.0% MSCI Islamic2.7% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
| GEN Gen Digital Inc | NON_COMPLIANT | 0.74% | AAOIFI44.3% Usmani52.6% Dow Jones Islamic51.3% S&P Shariah54.5% MSCI Islamic52.6% MSCI Islamic M-Series54.5% FTSE Shariah52.1% |
| Electronic Arts Inc | UNSCREENED | 0.74% | no in-house ratios for this holding |
| RNG RingCentral Inc | NON_COMPLIANT | 0.74% | AAOIFI19.9% Usmani84.3% Dow Jones Islamic41.2% S&P Shariah42.1% MSCI Islamic84.3% MSCI Islamic M-Series42.1% FTSE Shariah81.1% |
| KD Kyndryl Holdings Inc | NON_COMPLIANT | 0.73% | AAOIFI228.4% Usmani56.0% Dow Jones Islamic108.6% S&P Shariah116.1% MSCI Islamic54.4% MSCI Islamic M-Series116.1% FTSE Shariah47.2% |
| DXC DXC Technology Co | NON_COMPLIANT | 0.73% | AAOIFI224.0% Usmani33.5% Dow Jones Islamic156.3% S&P Shariah135.8% MSCI Islamic32.3% MSCI Islamic M-Series135.8% FTSE Shariah27.1% |
| BOX Box Inc | COMPLIANT | 0.73% | AAOIFI11.2% Usmani37.4% Dow Jones Islamic12.1% S&P Shariah12.6% MSCI Islamic37.4% MSCI Islamic M-Series12.6% FTSE Shariah32.2% |
| BRZE Braze Inc | COMPLIANT | 0.73% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| RAMP LiveRamp Holdings Inc | COMPLIANT | 0.73% | AAOIFI1.4% Usmani2.6% Dow Jones Islamic1.7% S&P Shariah1.7% MSCI Islamic2.6% MSCI Islamic M-Series1.7% FTSE Shariah0.0% |
| Five9 Inc | UNSCREENED | 0.73% | no in-house ratios for this holding |
| Core Scientific Inc | UNSCREENED | 0.73% | no in-house ratios for this holding |
| SAIL SailPoint Inc | COMPLIANT | 0.73% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| DLB Dolby Laboratories Inc | COMPLIANT | 0.73% | AAOIFI0.8% Usmani1.5% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.5% MSCI Islamic M-Series0.7% FTSE Shariah0.0% |
| IOT Samsara Inc | COMPLIANT | 0.73% | AAOIFI0.3% Usmani2.5% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic2.5% MSCI Islamic M-Series0.3% FTSE Shariah0.0% |
| DBX Dropbox Inc | NON_COMPLIANT | 0.73% | AAOIFI5.2% Usmani23.9% Dow Jones Islamic6.1% S&P Shariah6.3% MSCI Islamic13.8% MSCI Islamic M-Series6.3% FTSE Shariah0.0% |
| TTAN ServiceTitan Inc | COMPLIANT | 0.72% | AAOIFI2.7% Usmani8.5% Dow Jones Islamic1.7% S&P Shariahpass MSCI Islamic8.5% MSCI Islamic M-Seriespass FTSE Shariah5.8% |
| ZETA Zeta Global Holdings Corp | COMPLIANT | 0.72% | AAOIFI4.1% Usmani15.0% Dow Jones Islamic4.5% S&P Shariah5.1% MSCI Islamic15.0% MSCI Islamic M-Series5.1% FTSE Shariah13.5% |
| DOCU Docusign Inc | COMPLIANT | 0.72% | AAOIFI1.5% Usmani4.6% Dow Jones Islamic1.3% S&P Shariah1.4% MSCI Islamic4.6% MSCI Islamic M-Series1.4% FTSE Shariah0.0% |
| WK Workiva Inc | NON_COMPLIANT | 0.72% | AAOIFI0.3% Usmani1.8% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic0.8% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| FICO Fair Isaac Corp | COMPLIANT | 0.72% | AAOIFI27.8% Usmani274.8% Dow Jones Islamic14.4% S&P Shariah15.5% MSCI Islamic274.8% MSCI Islamic M-Series15.5% FTSE Shariah274.0% |
| APPN Appian Corp | COMPLIANT | 0.71% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| CLSK Cleanspark Inc | NON_COMPLIANT | 0.71% | AAOIFI54.6% Usmani65.9% Dow Jones Islamic56.9% S&P Shariah61.3% MSCI Islamic65.9% MSCI Islamic M-Series61.3% FTSE Shariah65.9% |
| CDNS Cadence Design Systems Inc | COMPLIANT | 0.71% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| SNPS Synopsys Inc | COMPLIANT | 0.71% | AAOIFI14.4% Usmani22.7% Dow Jones Islamic13.2% S&P Shariah13.2% MSCI Islamic22.7% MSCI Islamic M-Series13.2% FTSE Shariah21.0% |
| TYL Tyler Technologies Inc | COMPLIANT | 0.71% | AAOIFI9.8% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.2% MSCI Islamic25.0% MSCI Islamic M-Series7.2% FTSE Shariah24.2% |
| CXM Sprinklr Inc | NON_COMPLIANT | 0.71% | AAOIFI3.4% Usmani3.9% Dow Jones Islamic2.4% S&P Shariah2.0% MSCI Islamic3.9% MSCI Islamic M-Series2.0% FTSE Shariah0.0% |
| MANH Manhattan Associates Inc | COMPLIANT | 0.70% | AAOIFI0.4% Usmani7.7% Dow Jones Islamic0.5% S&P Shariah0.4% MSCI Islamic7.7% MSCI Islamic M-Series0.4% FTSE Shariah0.0% |
| SOUN SoundHound AI Inc | NON_COMPLIANT | 0.70% | AAOIFI0.2% Usmani0.8% Dow Jones Islamic2.9% S&P Shariah3.7% MSCI Islamic0.8% MSCI Islamic M-Series3.7% FTSE Shariah0.0% |
| APPF Appfolio Inc | COMPLIANT | 0.70% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| HUBS HubSpot Inc | COMPLIANT | 0.69% | AAOIFI5.0% Usmani17.3% Dow Jones Islamic2.6% S&P Shariah2.4% MSCI Islamic17.3% MSCI Islamic M-Series2.4% FTSE Shariah10.5% |
| MSFT Microsoft Corp | QUESTIONABLE | 0.69% | AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3% |
| ESTC Elastic NV | COMPLIANT | 0.69% | AAOIFI6.2% Usmani19.8% Dow Jones Islamic7.2% S&P Shariah6.7% MSCI Islamic19.8% MSCI Islamic M-Series6.7% FTSE Shariah19.0% |
| NOW ServiceNow Inc | COMPLIANT | 0.68% | AAOIFI6.1% Usmani26.7% Dow Jones Islamic5.0% S&P Shariah5.3% MSCI Islamic26.7% MSCI Islamic M-Series5.3% FTSE Shariah23.7% |
| PCOR Procore Technologies Inc | COMPLIANT | 0.68% | AAOIFI0.8% Usmani3.0% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic3.0% MSCI Islamic M-Series0.7% FTSE Shariah0.0% |
| GDYN Grid Dynamics Holdings Inc | NON_COMPLIANT | 0.68% | AAOIFI2.6% Usmani2.8% Dow Jones Islamic1.8% S&P Shariah1.8% MSCI Islamic2.8% MSCI Islamic M-Series1.8% FTSE Shariah0.0% |
| ASAN Asana Inc | COMPLIANT | 0.68% | AAOIFI12.8% Usmani31.7% Dow Jones Islamic8.7% S&P Shariah7.9% MSCI Islamic31.7% MSCI Islamic M-Series7.9% FTSE Shariah4.5% |
| BSY Bentley Systems Inc | COMPLIANT | 0.67% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| ZM Zoom Communications Inc | COMPLIANT | 0.67% | AAOIFI0.2% Usmani0.4% Dow Jones Islamic0.2% S&P Shariah0.3% MSCI Islamic0.4% MSCI Islamic M-Series0.3% FTSE Shariah0.0% |
| INTU Intuit Inc | COMPLIANT | 0.67% | AAOIFI9.9% Usmani22.9% Dow Jones Islamic5.4% S&P Shariah5.3% MSCI Islamic22.9% MSCI Islamic M-Series5.3% FTSE Shariah20.8% |
| CRM Salesforce Inc | COMPLIANT | 0.67% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| BBAI BigBear.ai Holdings Inc | NON_COMPLIANT | 0.67% | AAOIFI1.6% Usmani2.7% Dow Jones Islamic1.4% S&P Shariah1.9% MSCI Islamic2.7% MSCI Islamic M-Series1.9% FTSE Shariah2.0% |
| PEGA Pegasystems Inc | COMPLIANT | 0.67% | AAOIFI1.2% Usmani5.2% Dow Jones Islamic0.9% S&P Shariah1.1% MSCI Islamic5.2% MSCI Islamic M-Series1.1% FTSE Shariah0.0% |
| VERX Vertex Inc | COMPLIANT | 0.66% | AAOIFI18.3% Usmani28.9% Dow Jones Islamic46.2% S&P Shariah45.9% MSCI Islamic28.9% MSCI Islamic M-Series45.9% FTSE Shariah28.0% |
| PLTR Palantir Technologies Inc | QUESTIONABLE | 0.66% | AAOIFI0.1% Usmani1.8% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic1.8% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| WDAY Workday Inc | COMPLIANT | 0.65% | AAOIFI8.4% Usmani23.8% Dow Jones Islamic8.1% S&P Shariah7.7% MSCI Islamic23.8% MSCI Islamic M-Series7.7% FTSE Shariah18.8% |
| EFOR Everforth Inc | NON_COMPLIANT | 0.64% | AAOIFI112.1% Usmani37.2% Dow Jones Islamic63.4% S&P Shariah49.8% MSCI Islamic37.2% MSCI Islamic M-Series49.8% FTSE Shariah35.7% |
| ADSK Autodesk Inc | COMPLIANT | 0.64% | AAOIFI8.4% Usmani28.7% Dow Jones Islamic6.4% S&P Shariah6.7% MSCI Islamic28.7% MSCI Islamic M-Series6.7% FTSE Shariah26.9% |
| ADBE Adobe Inc | COMPLIANT | 0.64% | AAOIFI4.5% Usmani22.6% Dow Jones Islamic4.6% S&P Shariah3.8% MSCI Islamic22.6% MSCI Islamic M-Series3.8% FTSE Shariah21.2% |
| EPAM EPAM Systems Inc | COMPLIANT | 0.62% | AAOIFI2.6% Usmani3.3% Dow Jones Islamic1.6% S&P Shariah1.4% MSCI Islamic3.3% MSCI Islamic M-Series1.4% FTSE Shariah0.5% |
| BMNR BitMine Immersion Technologies Inc | COMPLIANT | 0.62% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic— S&P Shariah— MSCI Islamic0.0% MSCI Islamic M-Series— FTSE Shariah0.0% |
| TEAM Atlassian Corp | COMPLIANT | 0.62% | AAOIFI2.6% Usmani20.2% Dow Jones Islamic2.9% S&P Shariah2.7% MSCI Islamic20.2% MSCI Islamic M-Series2.7% FTSE Shariah16.2% |
| AI C3.ai Inc | NON_COMPLIANT | 0.62% | AAOIFI3.5% Usmani6.7% Dow Jones Islamic2.0% S&P Shariah1.8% MSCI Islamic6.7% MSCI Islamic M-Series1.8% FTSE Shariah0.0% |
| PTC PTC Inc | COMPLIANT | 0.61% | AAOIFI11.1% Usmani24.7% Dow Jones Islamic8.0% S&P Shariah8.0% MSCI Islamic24.7% MSCI Islamic M-Series8.0% FTSE Shariah21.9% |
| IT Gartner Inc | NON_COMPLIANT | 0.61% | AAOIFI28.3% Usmani46.3% Dow Jones Islamic13.9% S&P Shariah12.2% MSCI Islamic46.3% MSCI Islamic M-Series12.2% FTSE Shariah41.4% |
| NN NextNav Inc | COMPLIANT | 0.60% | AAOIFI10.9% Usmani72.1% Dow Jones Islamic14.2% S&P Shariah18.2% MSCI Islamic72.1% MSCI Islamic M-Series18.2% FTSE Shariah68.7% |
| Consensus Cloud Solutions Inc | UNSCREENED | 0.59% | no in-house ratios for this holding |
| CRCL Circle Internet Group Inc | NON_COMPLIANT | 0.58% | AAOIFI0.1% Usmani0.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic0.0% MSCI Islamic M-Seriesfail FTSE Shariah0.0% |
| MSTR Strategy Inc | COMPLIANT | 0.55% | AAOIFI12.5% Usmani12.9% Dow Jones Islamic7.5% S&P Shariah9.4% MSCI Islamic12.9% MSCI Islamic M-Series9.4% FTSE Shariah12.8% |
| CTSH Cognizant Technology Solutions Corp | COMPLIANT | 0.55% | AAOIFI4.0% Usmani5.4% Dow Jones Islamic3.2% S&P Shariah3.2% MSCI Islamic5.3% MSCI Islamic M-Series3.2% FTSE Shariah2.8% |
| ACN Accenture PLC | COMPLIANT | 0.53% | AAOIFI7.7% Usmani12.2% Dow Jones Islamic5.0% S&P Shariah4.7% MSCI Islamic12.2% MSCI Islamic M-Series4.7% FTSE Shariah7.5% |
| ORCL Oracle Corp | NON_COMPLIANT | 0.53% | AAOIFI34.1% Usmani64.0% Dow Jones Islamic30.7% S&P Shariah35.2% MSCI Islamic61.0% MSCI Islamic M-Series35.2% FTSE Shariah49.5% |
| State Street Global Advisors | UNSCREENED | 0.06% | no in-house ratios for this holding |
| State Street Global Advisors | UNSCREENED | 0.00% | no in-house ratios for this holding |
| ESC PIVOTAL SOFTWARE I | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 34 points of portfolio weight — 53.7% of it passes AAOIFI, 19.7% 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 53.7% ratios fail on 18.4% 37.9% not rated under AAOIFI
ratios pass on 35.3% ratios fail on 32.7% 42.0% not rated under Usmani
ratios pass on 52.5% ratios fail on 18.9% 38.5% not rated under Dow Jones Islamic
ratios pass on 52.8% ratios fail on 17.8% 39.4% not rated under S&P Shariah
ratios pass on 19.7% ratios fail on 48.2% 42.1% not rated under MSCI Islamic
ratios pass on 52.8% ratios fail on 18.6% 38.5% not rated under MSCI Islamic M-Series
ratios pass on 36.3% ratios fail on 31.1% 42.7% not rated under FTSE Shariah
117 of 136 listed holdings carry our own per-methodology verdicts (88% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 100 (75% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| VRNS Varonis Systems Inc | 0.93% |
| VYX NCR Voyix Corp | 0.86% |
| DDOG Datadog Inc | 0.84% |
| CRNC Cerence Inc | 0.83% |
| RPD Rapid7 Inc | 0.82% |
| BILL BILL Holdings Inc | 0.82% |
| MARA MARA Holdings Inc | 0.80% |
| CCC CCC Intelligent Solutions Holdings Inc | 0.80% |
| PD PagerDuty Inc | 0.80% |
| HUT Hut 8 Corp | 0.80% |
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.
State Street(R) SPDR(R) S&P(R) Software & Services ETF (XSW) 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 XSW — 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) | 47.30 | NEUTRAL |
| Stochastic %K (14) | 45.34 | NEUTRAL |
| CCI (20) | -5.89 | NEUTRAL |
| Williams %R (14) | -54.66 | NEUTRAL |
| MACD (12,26,9) | 0.16 | BUY |
| ROC (10) | 1.61 | BUY |
| Momentum (10) | 3.13 | BUY |
| EMA (10) | 200.67 | SELL |
| SMA (10) | 201.09 | SELL |
| EMA (20) | 199.96 | SELL |
| SMA (20) | 199.27 | SELL |
| EMA (30) | 199.12 | SELL |
| SMA (30) | 199.46 | SELL |
| EMA (50) | 196.24 | BUY |
| SMA (50) | 199.74 | SELL |
| EMA (100) | 188.81 | BUY |
| SMA (100) | 186.42 | BUY |
| EMA (200) | 182.33 | BUY |
| SMA (200) | 172.68 | BUY |
In seeking to track the performance of the S&P Software & Services Select Industry Index (the "index"), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the software and services segment of the S&P Total Market Index ("S&P TMI").
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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 | BULLISH | 18 |
| 🕐 1H | BULLISH | 73 |
| ⏱ 15-Min | BEARISH | 130 |
| ⏲ 5-Min | BEARISH | 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.