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.
Vaughan Nelson Emerging Markets Fund · INVESTMENT MANAGERS SERIES TRUST
25 holdings · as of 2026-04-30 (4.6 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 32.16% of portfolio weight is in non-compliant holdings, over the 5% threshold.
25 holdings, 15 matched (76% of weight). Portfolio as of 2026-04-30, filed 2026-06-29. Source: SEC Form N-PORT.
1.66% of this portfolio’s income is non-permissible — weighted across holdings, computed over 64% of portfolio weight (12 of 25 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.
43.6% compliant 0.0% questionable 32.1% non-compliant 24.2% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| TSM TSMC | COMPLIANT | 14.24% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| BABA Alibaba Group Holding Ltd | COMPLIANT | 10.29% | AAOIFI7.6% Usmani1.1% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic1.1% MSCI Islamic M-Series0.2% FTSE Shariah0.0% |
| MELI MercadoLibre Inc | COMPLIANT | 4.52% | AAOIFI20.1% Usmani38.5% Dow Jones Islamic19.0% S&P Shariah20.6% MSCI Islamic38.3% MSCI Islamic M-Series20.6% FTSE Shariah33.3% |
| KMTUY Komatsu Ltd | NON_COMPLIANT | 4.41% | AAOIFI20.8% Usmani23.3% Dow Jones Islamic27.9% S&P Shariah30.2% MSCI Islamic22.1% MSCI Islamic M-Series30.2% FTSE Shariah22.1% |
| GMEXICOB.MX Grupo Mexico SAB de CV | COMPLIANT | 4.40% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 1180.SR Saudi National Bank/The | NON_COMPLIANT | 4.39% | AAOIFI53.1% Usmani11.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic11.0% MSCI Islamic M-Seriesfail FTSE Shariah11.0% |
| CATL | UNSCREENED | 4.34% | no in-house ratios for this holding |
| JSWINFRA.NS JSW Infrastructure Ltd | NON_COMPLIANT | 4.19% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| CEMEXCPO.MX Cemex SAB de CV | NON_COMPLIANT | 4.17% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| EMAAR.AE Emaar Properties PJSC | NON_COMPLIANT | 4.14% | AAOIFI10.8% Usmani6.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic5.7% MSCI Islamic M-Seriesfail FTSE Shariah5.7% |
| NU Holdings Ltd/Cayman Islands | UNSCREENED | 3.93% | no in-house ratios for this holding |
| ICTSI | UNSCREENED | 3.87% | no in-house ratios for this holding |
| Samsung Biologics Co Ltd | UNSCREENED | 3.76% | no in-house ratios for this holding |
| B3SA3.SA B3 SA - Brasil Bolsa Balcao | NON_COMPLIANT | 3.76% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| EUROB.AT Eurobank SA | NON_COMPLIANT | 3.76% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Grupo Financiero Banorte SAB d | UNSCREENED | 3.71% | no in-house ratios for this holding |
| TRY SPOT FORWARD CONTRACT / | UNSCREENED | 3.53% | no in-house ratios for this holding |
| 002371.SZ NAURA Technology Group Co Ltd | COMPLIANT | 3.51% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| AU Anglogold Ashanti Plc | COMPLIANT | 3.42% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| YPF YPF SA | NON_COMPLIANT | 3.34% | AAOIFI50.8% Usmani35.9% Dow Jones Islamic72.8% S&P Shariah88.1% MSCI Islamic35.9% MSCI Islamic M-Series88.1% FTSE Shariah35.9% |
| 2010.SR Saudi Basic Industries Corp | COMPLIANT | 3.30% | AAOIFI24.9% Usmani16.6% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic15.2% MSCI Islamic M-Seriespass FTSE Shariah15.2% |
| MSILF Treasury Portfolio | UNSCREENED | 0.98% | no in-house ratios for this holding |
| TAIWANESE DOLLAR / | UNSCREENED | 0.15% | no in-house ratios for this holding |
| CHINESE RENMINBI (YUAN) / | UNSCREENED | 0.00% | no in-house ratios for this holding |
| SAUDI RIYAL / | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 15 points of portfolio weight — 34.4% of it passes AAOIFI, 19.8% 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 34.4% ratios fail on 38.0% 27.7% not rated under AAOIFI
ratios pass on 19.8% ratios fail on 37.8% 42.5% not rated under Usmani
ratios pass on 34.4% ratios fail on 27.8% 38.0% not rated under Dow Jones Islamic
ratios pass on 34.4% ratios fail on 27.8% 38.0% not rated under S&P Shariah
ratios pass on 19.8% ratios fail on 37.8% 42.5% not rated under MSCI Islamic
ratios pass on 34.4% ratios fail on 27.8% 38.0% not rated under MSCI Islamic M-Series
ratios pass on 19.8% ratios fail on 37.8% 42.5% not rated under FTSE Shariah
15 of 25 listed holdings carry our own per-methodology verdicts (76% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 8 (49% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| KMTUY Komatsu Ltd | 4.41% |
| 1180.SR Saudi National Bank/The | 4.39% |
| JSWINFRA.NS JSW Infrastructure Ltd | 4.19% |
| CEMEXCPO.MX Cemex SAB de CV | 4.17% |
| EMAAR.AE Emaar Properties PJSC | 4.14% |
| B3SA3.SA B3 SA - Brasil Bolsa Balcao | 3.76% |
| EUROB.AT Eurobank SA | 3.76% |
| YPF YPF SA | 3.34% |
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.
ADVMX (ADVMX) 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 ADVMX — 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
This fund prices once a day, so its bars carry no intraday high or low — floor-trader pivots are not defined for it.
The range is measured volatility (ATR over the horizon), not a target — a wider band means a more volatile asset, not a stronger view. The direction is the indicator tally below. Every forecast is recorded when made and scored against the real price when it comes due, including the wrong ones. Not a recommendation, and not a fatwa.
Standard indicator thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20, MACD histogram sign, price vs. average) computed on daily bars. A summary of what common indicators say — not a recommendation, and not this site's own trading verdict.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 46.40 | NEUTRAL |
| Stochastic %K (14) | 31.71 | NEUTRAL |
| CCI (20) | -95.77 | NEUTRAL |
| Williams %R (14) | -68.29 | NEUTRAL |
| MACD (12,26,9) | -0.08 | SELL |
| ROC (10) | -1.49 | SELL |
| Momentum (10) | -0.23 | SELL |
| EMA (10) | 15.30 | SELL |
| SMA (10) | 15.41 | SELL |
| EMA (20) | 15.36 | SELL |
| SMA (20) | 15.47 | SELL |
| EMA (30) | 15.36 | SELL |
| SMA (30) | 15.45 | SELL |
| EMA (50) | 15.34 | SELL |
| SMA (50) | 15.20 | SELL |
| EMA (100) | 15.25 | SELL |
| SMA (100) | 15.38 | SELL |
| EMA (200) | 14.78 | BUY |
| SMA (200) | 15.10 | BUY |
Under normal circumstances, the fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities of companies that are either listed, domiciled, or conduct a meaningful amount of business in emerging markets. The fund's advisor defines companies conducting a meaningful amount of business in emerging markets as those companies that derive at least 50% of revenues or net profits from, or have at least 50% of assets or production capacities in, emerging market countries.
Background via Yahoo Finance — informational, not part of the verdict.
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
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 2026-09-08 · Asset managers net 912361 (-21819)
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.