AREAETF / FundHarbor AlphaEdge Next Generation REITs ETF
Verdicts genuinely change. Free email alert the moment AREA's does — no target price to set, unlike a price alert.
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.
Harbor AlphaEdge Next Generation REITs ETF · Harbor ETF Trust
43 holdings
NON-COMPLIANT 73.85% of portfolio weight is in non-compliant holdings, over the 5% threshold.
43 holdings, 38 matched (88% of weight). Portfolio as of 2026-01-31, filed 2026-03-30. Source: SEC Form N-PORT.
0.67% of this portfolio’s income is non-permissible — weighted across holdings, computed over 84% of portfolio weight (36 of 43 holdings). The common approach purifies that proportion of income received — dividends — not of the position’s value. We report the ratio; what to do with it is a question for your own scholar.
14.2% compliant 0.0% questionable 73.9% non-compliant 11.9% unscreened
All holdings (43)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| PSA Public Storage | NON_COMPLIANT | 6.93% | AAOIFI18.1% Usmani50.6% Dow Jones Islamic19.9% S&P Shariah20.7% MSCI Islamic50.6% MSCI Islamic M-Series20.7% FTSE Shariah50.6% |
| Lamar Advertising Co | UNSCREENED | 6.88% | no in-house ratios for this holding |
| HST Host Hotels & Resorts Inc | NON_COMPLIANT | 6.09% | AAOIFI8.4% Usmani9.6% Dow Jones Islamic10.8% S&P Shariah11.0% MSCI Islamic9.6% MSCI Islamic M-Series11.0% FTSE Shariah9.6% |
| VICI VICI Properties Inc | NON_COMPLIANT | 6.09% | AAOIFI57.8% Usmani35.1% Dow Jones Islamic55.7% S&P Shariah58.1% MSCI Islamic35.1% MSCI Islamic M-Series58.1% FTSE Shariah35.1% |
| VTR Ventas Inc | COMPLIANT | 5.36% | AAOIFI28.0% Usmani42.8% Dow Jones Islamic38.5% S&P Shariah45.5% MSCI Islamic42.8% MSCI Islamic M-Series45.5% FTSE Shariah42.8% |
| HR Healthcare Realty Trust Inc | NON_COMPLIANT | 4.88% | AAOIFI63.6% Usmani46.3% Dow Jones Islamic71.4% S&P Shariah74.8% MSCI Islamic46.3% MSCI Islamic M-Series74.8% FTSE Shariah46.3% |
| AMT American Tower Corp | NON_COMPLIANT | 4.10% | AAOIFI52.7% Usmani71.1% Dow Jones Islamic52.4% S&P Shariah52.4% MSCI Islamic71.1% MSCI Islamic M-Series52.4% FTSE Shariah58.8% |
| CCI Crown Castle Inc | NON_COMPLIANT | 3.52% | AAOIFI67.9% Usmani108.8% Dow Jones Islamic61.9% S&P Shariah60.7% MSCI Islamic108.8% MSCI Islamic M-Series60.7% FTSE Shariah84.8% |
| EPR EPR Properties | NON_COMPLIANT | 3.50% | AAOIFI71.8% Usmani54.4% Dow Jones Islamic86.7% S&P Shariah95.5% MSCI Islamic54.4% MSCI Islamic M-Series95.5% FTSE Shariah54.4% |
| SBAC SBA Communications Corp | NON_COMPLIANT | 2.94% | AAOIFI63.3% Usmani108.4% Dow Jones Islamic58.7% S&P Shariah58.5% MSCI Islamic108.4% MSCI Islamic M-Series58.5% FTSE Shariah108.4% |
| INVH Invitation Homes Inc | NON_COMPLIANT | 2.82% | AAOIFI52.4% Usmani46.2% Dow Jones Islamic47.8% S&P Shariah46.8% MSCI Islamic46.2% MSCI Islamic M-Series46.8% FTSE Shariah46.2% |
| DRH DiamondRock Hospitality Co | NON_COMPLIANT | 2.62% | AAOIFI44.7% Usmani35.8% Dow Jones Islamic60.3% S&P Shariah62.3% MSCI Islamic35.8% MSCI Islamic M-Series62.3% FTSE Shariah35.8% |
| SBRA Sabra Health Care REIT Inc | NON_COMPLIANT | 2.58% | AAOIFI49.4% Usmani47.6% Dow Jones Islamic61.2% S&P Shariah69.2% MSCI Islamic47.6% MSCI Islamic M-Series69.2% FTSE Shariah47.6% |
| OHI Omega Healthcare Investors Inc | NON_COMPLIANT | 2.57% | AAOIFI30.5% Usmani42.9% Dow Jones Islamic37.6% S&P Shariah43.5% MSCI Islamic42.9% MSCI Islamic M-Series43.5% FTSE Shariah42.9% |
| CUBE CubeSmart | NON_COMPLIANT | 2.42% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| OUT Outfront Media Inc | NON_COMPLIANT | 2.38% | AAOIFI81.0% Usmani78.4% Dow Jones Islamic116.5% S&P Shariah138.2% MSCI Islamic78.4% MSCI Islamic M-Series138.2% FTSE Shariah48.0% |
| AHR American Healthcare REIT Inc | COMPLIANT | 2.37% | AAOIFI14.3% Usmani33.6% Dow Jones Islamic22.1% S&P Shariah25.8% MSCI Islamic31.1% MSCI Islamic M-Series25.8% FTSE Shariah31.1% |
| DOC Healthpeak Properties Inc | NON_COMPLIANT | 2.31% | AAOIFI67.5% Usmani46.3% Dow Jones Islamic80.6% S&P Shariah86.7% MSCI Islamic46.3% MSCI Islamic M-Series86.7% FTSE Shariah46.3% |
| SUI Sun Communities Inc | COMPLIANT | 2.30% | AAOIFI50.8% Usmani59.8% Dow Jones Islamic48.7% S&P Shariah50.2% MSCI Islamic59.8% MSCI Islamic M-Series50.2% FTSE Shariah59.8% |
| UHT Universal Health Realty Income Trust | NON_COMPLIANT | 1.97% | AAOIFI66.0% Usmani66.1% Dow Jones Islamic71.2% S&P Shariah74.2% MSCI Islamic66.1% MSCI Islamic M-Series74.2% FTSE Shariah66.1% |
| WELL Welltower Inc | COMPLIANT | 1.96% | AAOIFI10.6% Usmani26.7% Dow Jones Islamic15.6% S&P Shariah19.1% MSCI Islamic26.7% MSCI Islamic M-Series19.1% FTSE Shariah26.7% |
| DLR Digital Realty Trust Inc | NON_COMPLIANT | 1.75% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| Apple Hospitality REIT Inc | UNSCREENED | 1.66% | no in-house ratios for this holding |
| IRM Iron Mountain Inc | NON_COMPLIANT | 1.62% | AAOIFI57.3% Usmani93.4% Dow Jones Islamic66.1% S&P Shariah73.7% MSCI Islamic90.9% MSCI Islamic M-Series73.7% FTSE Shariah79.0% |
| RYN Rayonier Inc | NON_COMPLIANT | 1.62% | AAOIFI34.1% Usmani27.1% Dow Jones Islamic48.4% S&P Shariah51.1% MSCI Islamic26.9% MSCI Islamic M-Series51.1% FTSE Shariah26.6% |
| PotlatchDeltic Corp | UNSCREENED | 1.37% | no in-house ratios for this holding |
| Sila Realty Trust Inc | UNSCREENED | 1.29% | no in-house ratios for this holding |
| ELS Equity LifeStyle Properties Inc | COMPLIANT | 1.22% | AAOIFI27.9% Usmani58.2% Dow Jones Islamic27.8% S&P Shariah28.2% MSCI Islamic58.2% MSCI Islamic M-Series28.2% FTSE Shariah58.2% |
| LAND Gladstone Land Corp | NON_COMPLIANT | 1.20% | AAOIFI114.6% Usmani40.8% Dow Jones Islamic132.5% S&P Shariah124.9% MSCI Islamic40.8% MSCI Islamic M-Series124.9% FTSE Shariah40.8% |
| WY Weyerhaeuser Co | NON_COMPLIANT | 1.17% | AAOIFI31.3% Usmani32.1% Dow Jones Islamic28.8% S&P Shariah27.4% MSCI Islamic32.1% MSCI Islamic M-Series27.4% FTSE Shariah32.1% |
| CTRE CareTrust REIT Inc | NON_COMPLIANT | 1.15% | AAOIFI14.4% Usmani20.3% Dow Jones Islamic17.3% S&P Shariah21.3% MSCI Islamic20.3% MSCI Islamic M-Series21.3% FTSE Shariah20.3% |
| CLDT Chatham Lodging Trust | NON_COMPLIANT | 1.13% | AAOIFI68.2% Usmani33.6% Dow Jones Islamic105.8% S&P Shariah103.2% MSCI Islamic33.6% MSCI Islamic M-Series103.2% FTSE Shariah33.6% |
| DHC Diversified Healthcare Trust | NON_COMPLIANT | 1.11% | AAOIFI134.3% Usmani57.6% Dow Jones Islamic211.6% S&P Shariah249.7% MSCI Islamic57.6% MSCI Islamic M-Series249.7% FTSE Shariah57.6% |
| PEB Pebblebrook Hotel Trust | NON_COMPLIANT | 1.06% | AAOIFI102.3% Usmani39.4% Dow Jones Islamic141.2% S&P Shariah134.2% MSCI Islamic39.4% MSCI Islamic M-Series134.2% FTSE Shariah39.4% |
| EQIX Equinix Inc | COMPLIANT | 0.98% | AAOIFI20.7% Usmani57.3% Dow Jones Islamic24.8% S&P Shariah26.3% MSCI Islamic51.7% MSCI Islamic M-Series26.3% FTSE Shariah48.4% |
| EXR Extra Space Storage Inc | NON_COMPLIANT | 0.76% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0% |
| PK Park Hotels & Resorts Inc | NON_COMPLIANT | 0.75% | AAOIFI129.2% Usmani51.1% Dow Jones Islamic173.2% S&P Shariah168.4% MSCI Islamic51.1% MSCI Islamic M-Series168.4% FTSE Shariah51.1% |
| FPI Farmland Partners Inc | NON_COMPLIANT | 0.72% | AAOIFI48.4% Usmani32.1% Dow Jones Islamic48.5% S&P Shariah49.1% MSCI Islamic32.1% MSCI Islamic M-Series49.1% FTSE Shariah32.1% |
| Service Properties Trust | UNSCREENED | 0.65% | no in-house ratios for this holding |
| MPT Medical Properties Trust Inc | NON_COMPLIANT | 0.58% | AAOIFI403.5% Usmani65.5% Dow Jones Islamic352.0% S&P Shariah371.3% MSCI Islamic65.5% MSCI Islamic M-Series371.3% FTSE Shariah65.5% |
| ARE Alexandria Real Estate Equities Inc | NON_COMPLIANT | 0.58% | AAOIFI183.2% Usmani37.0% Dow Jones Islamic113.6% S&P Shariah95.2% MSCI Islamic37.0% MSCI Islamic M-Series95.2% FTSE Shariah37.0% |
| XHR Xenia Hotels & Resorts Inc | NON_COMPLIANT | 0.49% | AAOIFI73.4% Usmani50.0% Dow Jones Islamic98.2% S&P Shariah100.8% MSCI Islamic50.0% MSCI Islamic M-Series100.8% FTSE Shariah50.0% |
| BHR Braemar Hotels & Resorts Inc | NON_COMPLIANT | 0.43% | AAOIFI571.6% Usmani45.0% Dow Jones Islamic438.1% S&P Shariah456.9% MSCI Islamic45.0% MSCI Islamic M-Series456.9% FTSE Shariah45.0% |
The published standards disagree about this fund by 25 points of portfolio weight — 26.1% of it passes AAOIFI, 1.2% 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 26.1% ratios fail on 51.2% 22.6% not rated under AAOIFI
ratios pass on 1.2% ratios fail on 66.2% 32.5% not rated under Usmani
ratios pass on 21.9% ratios fail on 55.4% 22.6% not rated under Dow Jones Islamic
ratios pass on 21.9% ratios fail on 55.4% 22.6% not rated under S&P Shariah
ratios pass on 13.5% ratios fail on 63.8% 22.6% not rated under MSCI Islamic
ratios pass on 21.9% ratios fail on 55.4% 22.6% not rated under MSCI Islamic M-Series
ratios pass on 13.5% ratios fail on 63.8% 22.6% not rated under FTSE Shariah
38 of 43 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.
| Non-compliant holding | Weight |
|---|---|
| PSA Public Storage | 6.93% |
| HST Host Hotels & Resorts Inc | 6.09% |
| VICI VICI Properties Inc | 6.09% |
| HR Healthcare Realty Trust Inc | 4.88% |
| AMT American Tower Corp | 4.10% |
| CCI Crown Castle Inc | 3.52% |
| EPR EPR Properties | 3.50% |
| SBAC SBA Communications Corp | 2.94% |
| INVH Invitation Homes Inc | 2.82% |
| DRH DiamondRock Hospitality Co | 2.62% |
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Harbor AlphaEdge Next Generation REITs ETF (AREA) 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.
| Holding | Weight | Verdict |
|---|---|---|
| PSAPublic Storage | 6.93% | Non-compliant |
| Lamar Advertising Conot matched to a ticker | 6.88% | Not screened |
| HSTHost Hotels & Resorts Inc | 6.09% | Non-compliant |
| VICIVICI Properties Inc | 6.09% | Non-compliant |
| VTRVentas Inc | 5.36% | Compliant |
| HRHealthcare Realty Trust Inc | 4.88% | Non-compliant |
| AMTAmerican Tower Corp | 4.10% | Non-compliant |
| CCICrown Castle Inc | 3.52% | Non-compliant |
| EPREPR Properties | 3.50% | Non-compliant |
| SBACSBA Communications Corp | 2.94% | Non-compliant |
Top 10 of 43 holdings, 50.3% 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.
- PSAnon-compliant6.93%
- Lamar Advertising Conot screened6.88%
- HSTnon-compliant6.09%
- VICInon-compliant6.09%
- HRnon-compliant4.88%
- AMTnon-compliant4.10%
What changed, and when
Verdict history for AREA. 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 AREA 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 4 days - this is not a reading of today
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.
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.