ESNETF / FundEssential 40 Stock ETF
Verdicts genuinely change. Free email alert the moment ESN'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.
Essential 40 Stock ETF · NORTHERN LIGHTS FUND TRUST II
42 holdings
NON-COMPLIANT 43.20% of portfolio weight is in non-compliant holdings, over the 5% threshold.
42 holdings, 38 matched (92% of weight). Portfolio as of 2026-08-31, filed 2026-10-29. Source: SEC Form N-PORT.
2.86% of this portfolio’s income is non-permissible — weighted across holdings, computed over 90% of portfolio weight (37 of 42 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.
38.1% compliant 11.0% questionable 43.2% non-compliant 7.5% unscreened
All holdings (42)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| INTC INTEL CORP | COMPLIANT | 4.84% | AAOIFI9.2% Usmani25.0% Dow Jones Islamic23.9% S&P Shariah26.3% MSCI Islamic25.0% MSCI Islamic M-Series26.3% FTSE Shariah25.0% |
| MPC MARATHON PETROLEUM CORP | NON_COMPLIANT | 4.45% | AAOIFI31.4% Usmani36.4% Dow Jones Islamic59.6% S&P Shariah59.2% MSCI Islamic36.4% MSCI Islamic M-Series59.2% FTSE Shariah34.8% |
| PANW PALO ALTO NETWORKS INC | COMPLIANT | 4.38% | AAOIFI0.3% Usmani1.6% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic1.6% MSCI Islamic M-Series0.6% FTSE Shariah0.0% |
| FCX FREEPORT-MCMORAN INC | COMPLIANT | 2.80% | AAOIFI9.4% Usmani17.3% Dow Jones Islamic14.8% S&P Shariah15.6% MSCI Islamic17.3% MSCI Islamic M-Series15.6% FTSE Shariah15.7% |
| XOM EXXONMOBIL HOLDINGS CORP | COMPLIANT | 2.76% | AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1% |
| JNJ JOHNSON & JOHNSON | COMPLIANT | 2.71% | AAOIFI7.6% Usmani24.4% Dow Jones Islamic10.9% S&P Shariah11.7% MSCI Islamic24.4% MSCI Islamic M-Series11.7% FTSE Shariah24.4% |
| VZ VERIZON COMMUNICATIONS INC | NON_COMPLIANT | 2.69% | AAOIFI98.4% Usmani45.9% Dow Jones Islamic109.0% S&P Shariah116.8% MSCI Islamic45.9% MSCI Islamic M-Series116.8% FTSE Shariah40.3% |
| AAPL APPLE INC | COMPLIANT | 2.66% | AAOIFI2.1% Usmani21.5% Dow Jones Islamic2.2% S&P Shariah2.4% MSCI Islamic21.5% MSCI Islamic M-Series2.4% FTSE Shariah21.5% |
| NTR NUTRIEN LTD | NON_COMPLIANT | 2.62% | AAOIFI20.4% Usmani18.9% Dow Jones Islamic28.7% S&P Shariah30.8% MSCI Islamic18.9% MSCI Islamic M-Series30.8% FTSE Shariah18.9% |
| ENTERPRISE PRODUCTS PARTNERS LP | UNSCREENED | 2.62% | no in-house ratios for this holding |
| CVS CVS HEALTH CORP | NON_COMPLIANT | 2.56% | AAOIFI61.7% Usmani30.1% Dow Jones Islamic84.9% S&P Shariah88.7% MSCI Islamic30.1% MSCI Islamic M-Series88.7% FTSE Shariah24.2% |
| UNH UNITEDHEALTH GROUP INC | NON_COMPLIANT | 2.44% | AAOIFI20.4% Usmani23.7% Dow Jones Islamic20.4% S&P Shariah18.8% MSCI Islamic23.7% MSCI Islamic M-Series18.8% FTSE Shariah23.7% |
| DAL DELTA AIR LINES INC | NON_COMPLIANT | 2.43% | AAOIFI35.9% Usmani21.9% Dow Jones Islamic46.8% S&P Shariah52.9% MSCI Islamic21.9% MSCI Islamic M-Series52.9% FTSE Shariah15.0% |
| NEM NEWMONT CORP | COMPLIANT | 2.42% | AAOIFI3.8% Usmani8.8% Dow Jones Islamic6.1% S&P Shariah7.4% MSCI Islamic8.8% MSCI Islamic M-Series7.4% FTSE Shariah8.8% |
| PFE PFIZER INC | NON_COMPLIANT | 2.42% | AAOIFI39.8% Usmani31.4% Dow Jones Islamic46.1% S&P Shariah45.9% MSCI Islamic31.4% MSCI Islamic M-Series45.9% FTSE Shariah31.4% |
| V VISA INC | COMPLIANT | 2.41% | AAOIFI3.5% Usmani25.2% Dow Jones Islamic15.5% S&P Shariah16.7% MSCI Islamic25.2% MSCI Islamic M-Series16.7% FTSE Shariah25.2% |
| CHUBB LTD (SWITZERLAND) | UNSCREENED | 2.40% | no in-house ratios for this holding |
| JP MORGAN CHASE & COMPANY | UNSCREENED | 2.40% | no in-house ratios for this holding |
| SYY SYSCO CORP | NON_COMPLIANT | 2.34% | AAOIFI38.2% Usmani54.1% Dow Jones Islamic41.2% S&P Shariah41.9% MSCI Islamic52.7% MSCI Islamic M-Series41.9% FTSE Shariah47.6% |
| ADP AUTOMATIC DATA PROCESSING INC | COMPLIANT | 2.34% | AAOIFI5.0% Usmani8.5% Dow Jones Islamic5.0% S&P Shariah5.2% MSCI Islamic8.5% MSCI Islamic M-Series5.2% FTSE Shariah7.9% |
| MSFT MICROSOFT CORP | QUESTIONABLE | 2.34% | AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3% |
| AMZN AMAZON.COM INC | QUESTIONABLE | 2.31% | AAOIFI8.2% Usmani22.1% Dow Jones Islamic9.6% S&P Shariah10.6% MSCI Islamic20.9% MSCI Islamic M-Series10.6% FTSE Shariah12.1% |
| LLY ELI LILLY & COMPANY | COMPLIANT | 2.31% | AAOIFI5.2% Usmani38.6% Dow Jones Islamic6.4% S&P Shariah6.9% MSCI Islamic38.6% MSCI Islamic M-Series6.9% FTSE Shariah38.6% |
| CME CME GROUP INC | NON_COMPLIANT | 2.30% | AAOIFI0.4% Usmani0.2% Dow Jones Islamic2.3% S&P Shariah2.5% MSCI Islamic0.2% MSCI Islamic M-Series2.5% FTSE Shariah0.0% |
| AWK AMERICAN WATER WORKS COMPANY INC | NON_COMPLIANT | 2.30% | AAOIFI58.8% Usmani42.8% Dow Jones Islamic60.7% S&P Shariah62.1% MSCI Islamic42.8% MSCI Islamic M-Series62.1% FTSE Shariah42.6% |
| FDX FEDEX CORP | NON_COMPLIANT | 2.28% | AAOIFI55.5% Usmani43.2% Dow Jones Islamic60.9% S&P Shariah62.7% MSCI Islamic41.7% MSCI Islamic M-Series62.7% FTSE Shariah24.3% |
| MAS MASCO CORP | COMPLIANT | 2.24% | AAOIFI23.0% Usmani61.8% Dow Jones Islamic22.1% S&P Shariah22.3% MSCI Islamic61.5% MSCI Islamic M-Series22.3% FTSE Shariah56.3% |
| GOOG ALPHABET INC | QUESTIONABLE | 2.23% | AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9% |
| MMM 3M COMPANY | COMPLIANT | 2.22% | AAOIFI15.2% Usmani37.7% Dow Jones Islamic16.6% S&P Shariah18.5% MSCI Islamic37.7% MSCI Islamic M-Series18.5% FTSE Shariah35.9% |
| DUK DUKE ENERGY CORP | NON_COMPLIANT | 2.20% | AAOIFI95.1% Usmani45.3% Dow Jones Islamic98.9% S&P Shariah107.5% MSCI Islamic45.0% MSCI Islamic M-Series107.5% FTSE Shariah44.4% |
| BRK.B BERKSHIRE HATHAWAY INC | NON_COMPLIANT | 2.18% | no in-house ratios for this holding |
| F FORD MOTOR CO | NON_COMPLIANT | 2.17% | AAOIFI4.1% Usmani1.2% Dow Jones Islamic5.7% S&P Shariah5.9% MSCI Islamic0.8% MSCI Islamic M-Series5.9% FTSE Shariah0.0% |
| COST COSTCO WHOLESALE CORP | QUESTIONABLE | 2.17% | AAOIFI2.0% Usmani11.4% Dow Jones Islamic2.1% S&P Shariah2.2% MSCI Islamic9.8% MSCI Islamic M-Series2.2% FTSE Shariah6.9% |
| WM WASTE MANAGEMENT INC | COMPLIANT | 2.16% | AAOIFI25.8% Usmani50.3% Dow Jones Islamic26.5% S&P Shariah27.9% MSCI Islamic50.3% MSCI Islamic M-Series27.9% FTSE Shariah50.3% |
| LMT LOCKHEED MARTIN CORP | NON_COMPLIANT | 2.14% | AAOIFI16.6% Usmani32.9% Dow Jones Islamic17.6% S&P Shariah18.2% MSCI Islamic32.9% MSCI Islamic M-Series18.2% FTSE Shariah32.9% |
| META META PLATFORMS INC | QUESTIONABLE | 1.96% | AAOIFI7.2% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.9% MSCI Islamic25.0% MSCI Islamic M-Series7.9% FTSE Shariah18.6% |
| BA BOEING COMPANY (THE) | NON_COMPLIANT | 1.90% | AAOIFI30.1% Usmani30.2% Dow Jones Islamic33.6% S&P Shariah36.0% MSCI Islamic30.2% MSCI Islamic M-Series36.0% FTSE Shariah30.2% |
| HD HOME DEPOT INC (THE) | COMPLIANT | 1.89% | AAOIFI18.6% Usmani56.1% Dow Jones Islamic16.3% S&P Shariah17.0% MSCI Islamic53.3% MSCI Islamic M-Series17.0% FTSE Shariah44.5% |
| ORCL ORACLE CORP | NON_COMPLIANT | 1.65% | AAOIFI34.1% Usmani64.0% Dow Jones Islamic30.7% S&P Shariah35.2% MSCI Islamic61.0% MSCI Islamic M-Series35.2% FTSE Shariah49.5% |
| IBM INTERNATIONAL BUSINESS MACHINES CORP | NON_COMPLIANT | 1.64% | AAOIFI29.5% Usmani42.9% Dow Jones Islamic28.2% S&P Shariah32.2% MSCI Islamic42.9% MSCI Islamic M-Series32.2% FTSE Shariah40.8% |
| FDXF FEDEX FREIGHT HOLDING COMPANY INC | NON_COMPLIANT | 0.46% | AAOIFI31.8% Usmani89.3% Dow Jones Islamic— S&P Shariah— MSCI Islamic89.3% MSCI Islamic M-Series— FTSE Shariah62.6% |
| BBH SWEEP VEHICLE | UNSCREENED | 0.13% | no in-house ratios for this holding |
The published standards disagree about this fund by 7 points of portfolio weight — 59.6% of it passes Dow Jones Islamic, 52.6% 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 58.0% ratios fail on 32.2% 9.7% not rated under AAOIFI
ratios pass on 54.8% ratios fail on 33.2% 11.9% not rated under Usmani
ratios pass on 59.6% ratios fail on 30.1% 10.2% not rated under Dow Jones Islamic
ratios pass on 58.0% ratios fail on 31.7% 10.2% not rated under S&P Shariah
ratios pass on 52.6% ratios fail on 33.2% 14.1% not rated under MSCI Islamic
ratios pass on 58.0% ratios fail on 31.7% 10.2% not rated under MSCI Islamic M-Series
ratios pass on 57.1% ratios fail on 30.9% 11.9% not rated under FTSE Shariah
37 of 42 listed holdings carry our own per-methodology verdicts (90% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none.
| Non-compliant holding | Weight |
|---|---|
| MPC MARATHON PETROLEUM CORP | 4.45% |
| VZ VERIZON COMMUNICATIONS INC | 2.69% |
| NTR NUTRIEN LTD | 2.62% |
| CVS CVS HEALTH CORP | 2.56% |
| UNH UNITEDHEALTH GROUP INC | 2.44% |
| DAL DELTA AIR LINES INC | 2.43% |
| PFE PFIZER INC | 2.42% |
| SYY SYSCO CORP | 2.34% |
| CME CME GROUP INC | 2.30% |
| AWK AMERICAN WATER WORKS COMPANY INC | 2.30% |
Methodology breakdown computing — it will appear here on its own.
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Why this signal?
The factors behind the read, each shown with the figure it rests on, including the ones pointing the other way.
Essential 40 Stock ETF (ESN) 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.
🕌 In-house Compliance Research
Computing the full ratio and business-activity breakdown for ESN — 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.
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.
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.
Every indicator, and what it reads
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 52.00 | NEUTRAL |
| Stochastic %K (14) | 50.00 | NEUTRAL |
| CCI (20) | 1.05 | NEUTRAL |
| Williams %R (14) | -50.00 | NEUTRAL |
| MACD (12,26,9) | -0.00 | SELL |
| ROC (10) | 0.39 | BUY |
| Momentum (10) | 0.08 | BUY |
| EMA (10) | 20.68 | BUY |
| SMA (10) | 20.62 | BUY |
| EMA (20) | 20.68 | BUY |
| SMA (20) | 20.73 | SELL |
| EMA (30) | 20.66 | BUY |
| SMA (30) | 20.68 | BUY |
| EMA (50) | 20.60 | BUY |
| SMA (50) | 20.63 | BUY |
| EMA (100) | 20.30 | BUY |
| SMA (100) | 20.42 | BUY |
| EMA (200) | 19.44 | BUY |
| SMA (200) | 19.49 | BUY |
About Essential 40 Stock ETF
The fund is an actively-managed exchange-traded fund (“ETF”) that normally invests at least 80% of its net assets in the common stocks of companies that comprise the Essential 40 Stock Index, which measures the investment return of the equity securities of forty blue-chip U.S. companies. Generally, the adviser anticipates that the fund will hold all forty of the securities that comprise the index in proportion to their weightings in the index.
Background via Yahoo Finance — informational, not part of the verdict.
Average — needs more confirmation before sizing up
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.
| Timeframe | Bias | Bars |
|---|---|---|
| 📅 Daily | BEARISH | 44 |
| ⏰ 4H | NEUTRAL | 17 |
| 🕐 1H | RANGING | 71 |
| ⏱ 15-Min | BEARISH | 130 |
| ⏲ 5-Min | BEARISH | 234 |
Momentum & Volume
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.
Peer Movement
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.
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.
Insider Activity (90d)
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
COT Positioning — E-MINI S&P 500 - CHICAGO MERCANTILE EXCHANGE
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 2026-11-03 · Asset managers net 928584 (+5135)
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.