NVIRETF / FundHorizon Kinetics Energy and Remediation ETF
Verdicts genuinely change. Free email alert the moment NVIR'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.
Horizon Kinetics Energy and Remediation ETF ETF · Listed Funds Trust
40 holdings · as of 2026-06-30 (4.3 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 104% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 22.83% of portfolio weight is in non-compliant holdings, over the 5% threshold.
40 holdings, 33 matched (81% of weight). Portfolio as of 2026-06-30, filed 2026-08-26. Source: SEC Form N-PORT.
0.20% of this portfolio’s income is non-permissible — weighted across holdings, computed over 73% of portfolio weight (29 of 40 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.
59.3% compliant 0.0% questionable 22.1% non-compliant 18.7% unscreened
All holdings (40)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| TPL Texas Pacific Land Corp | COMPLIANT | 6.22% | AAOIFI0.1% Usmani0.8% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.8% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| CES Energy Solutions Corp | UNSCREENED | 5.94% | no in-house ratios for this holding |
| WMB Williams Cos Inc/The | NON_COMPLIANT | 5.60% | AAOIFI35.0% Usmani50.0% Dow Jones Islamic41.0% S&P Shariah47.9% MSCI Islamic50.0% MSCI Islamic M-Series47.9% FTSE Shariah50.0% |
| WBI WaterBridge Infrastructure LLC | NON_COMPLIANT | 5.29% | AAOIFI39.9% Usmani41.2% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic41.2% MSCI Islamic M-Seriesfail FTSE Shariah41.0% |
| EFXT Enerflex Ltd | COMPLIANT | 4.20% | AAOIFI15.5% Usmani21.6% Dow Jones Islamic35.3% S&P Shariah44.5% MSCI Islamic21.6% MSCI Islamic M-Series44.5% FTSE Shariah21.6% |
| EQT EQT Corp | COMPLIANT | 4.06% | AAOIFI16.4% Usmani13.7% Dow Jones Islamic18.1% S&P Shariah21.8% MSCI Islamic13.7% MSCI Islamic M-Series21.8% FTSE Shariah13.7% |
| US BANK MMDA - USBGFS 7 | UNSCREENED | 4.02% | no in-house ratios for this holding |
| PBT Permian Basin Royalty Trust | COMPLIANT | 4.00% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| LNG Cheniere Energy Inc | NON_COMPLIANT | 3.86% | AAOIFI44.4% Usmani55.8% Dow Jones Islamic54.4% S&P Shariah58.8% MSCI Islamic55.8% MSCI Islamic M-Series58.8% FTSE Shariah50.6% |
| SU Suncor Energy Inc | COMPLIANT | 3.83% | AAOIFI13.4% Usmani21.2% Dow Jones Islamic19.8% S&P Shariah21.8% MSCI Islamic16.1% MSCI Islamic M-Series21.8% FTSE Shariah16.1% |
| WTTR Select Water Solutions Inc | COMPLIANT | 3.43% | AAOIFI11.6% Usmani16.3% Dow Jones Islamic17.0% S&P Shariah19.1% MSCI Islamic16.3% MSCI Islamic M-Series19.1% FTSE Shariah14.5% |
| PrairieSky Royalty Ltd | UNSCREENED | 3.21% | no in-house ratios for this holding |
| TTI TETRA Technologies Inc | COMPLIANT | 3.17% | AAOIFI21.9% Usmani28.0% Dow Jones Islamic27.2% S&P Shariah30.3% MSCI Islamic28.0% MSCI Islamic M-Series30.3% FTSE Shariah22.9% |
| XOM Exxon Mobil Corp | COMPLIANT | 3.15% | AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1% |
| FANG Diamondback Energy Inc | COMPLIANT | 3.08% | AAOIFI22.6% Usmani18.0% Dow Jones Islamic28.3% S&P Shariah31.9% MSCI Islamic18.0% MSCI Islamic M-Series31.9% FTSE Shariah18.0% |
| EXE Expand Energy Corp | COMPLIANT | 2.68% | AAOIFI22.5% Usmani17.3% Dow Jones Islamic22.5% S&P Shariah27.7% MSCI Islamic17.3% MSCI Islamic M-Series27.7% FTSE Shariah17.0% |
| EOG EOG Resources Inc | COMPLIANT | 2.59% | AAOIFI10.8% Usmani15.1% Dow Jones Islamic12.6% S&P Shariah12.5% MSCI Islamic15.1% MSCI Islamic M-Series12.5% FTSE Shariah14.5% |
| WTS Watts Water Technologies Inc | COMPLIANT | 2.38% | AAOIFI0.9% Usmani3.7% Dow Jones Islamic1.2% S&P Shariah1.4% MSCI Islamic3.7% MSCI Islamic M-Series1.4% FTSE Shariah3.7% |
| COP ConocoPhillips | COMPLIANT | 2.36% | AAOIFI14.4% Usmani18.7% Dow Jones Islamic19.1% S&P Shariah18.8% MSCI Islamic18.7% MSCI Islamic M-Series18.8% FTSE Shariah18.7% |
| FLS Flowserve Corp | COMPLIANT | 2.28% | AAOIFI23.8% Usmani36.7% Dow Jones Islamic28.9% S&P Shariah32.3% MSCI Islamic36.7% MSCI Islamic M-Series32.3% FTSE Shariah33.8% |
| Trican Well Service Ltd | UNSCREENED | 2.19% | no in-house ratios for this holding |
| WHK WhiteHawk Minerals Corp | COMPLIANT | 2.14% | AAOIFI10.3% Usmani13.2% Dow Jones Islamic— S&P Shariah— MSCI Islamic13.2% MSCI Islamic M-Series— FTSE Shariah13.1% |
| SLB Ltd | UNSCREENED | 2.03% | no in-house ratios for this holding |
| OXY Occidental Petroleum Corp | NON_COMPLIANT | 1.91% | AAOIFI24.4% Usmani19.4% Dow Jones Islamic31.4% S&P Shariah30.3% MSCI Islamic18.2% MSCI Islamic M-Series30.3% FTSE Shariah17.1% |
| ECL Ecolab Inc | COMPLIANT | 1.89% | AAOIFI17.0% Usmani44.6% Dow Jones Islamic18.1% S&P Shariah19.4% MSCI Islamic44.6% MSCI Islamic M-Series19.4% FTSE Shariah44.0% |
| LBRT Liberty Energy Inc | NON_COMPLIANT | 1.87% | AAOIFI40.1% Usmani35.9% Dow Jones Islamic44.1% S&P Shariah43.7% MSCI Islamic30.1% MSCI Islamic M-Series43.7% FTSE Shariah28.8% |
| ITRI Itron Inc | NON_COMPLIANT | 1.64% | AAOIFI38.7% Usmani41.0% Dow Jones Islamic34.3% S&P Shariah36.7% MSCI Islamic41.0% MSCI Islamic M-Series36.7% FTSE Shariah40.3% |
| FLR Fluor Corp | NON_COMPLIANT | 1.54% | AAOIFI15.0% Usmani14.2% Dow Jones Islamic14.5% S&P Shariah15.0% MSCI Islamic14.2% MSCI Islamic M-Series15.0% FTSE Shariah14.2% |
| PNR Pentair PLC | COMPLIANT | 1.49% | AAOIFI19.0% Usmani25.1% Dow Jones Islamic11.6% S&P Shariah12.5% MSCI Islamic25.1% MSCI Islamic M-Series12.5% FTSE Shariah23.2% |
| BMI Badger Meter Inc | COMPLIANT | 1.34% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| FELE Franklin Electric Co Inc | COMPLIANT | 1.23% | AAOIFI6.6% Usmani14.6% Dow Jones Islamic6.7% S&P Shariah6.7% MSCI Islamic14.6% MSCI Islamic M-Series6.7% FTSE Shariah11.2% |
| EROK EagleRock Land LLC | UNRATED | 1.22% | AAOIFI11.6% Usmani16.8% Dow Jones Islamic— S&P Shariah— MSCI Islamic16.8% MSCI Islamic M-Series— FTSE Shariah16.7% |
| Xylem Inc/NY | UNSCREENED | 1.22% | no in-house ratios for this holding |
| VLTO Veralto Corp | COMPLIANT | 1.22% | AAOIFI12.4% Usmani37.5% Dow Jones Islamic11.8% S&P Shariah12.2% MSCI Islamic37.5% MSCI Islamic M-Series12.2% FTSE Shariah34.8% |
| IDXX IDEXX Laboratories Inc | COMPLIANT | 1.14% | AAOIFI1.4% Usmani16.8% Dow Jones Islamic1.3% S&P Shariah1.3% MSCI Islamic16.8% MSCI Islamic M-Series1.3% FTSE Shariah13.1% |
| CFW.TO Calfrac Well Services Ltd | NON_COMPLIANT | 1.12% | AAOIFI31.6% Usmani23.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic21.2% MSCI Islamic M-Seriesfail FTSE Shariah21.2% |
| IEX IDEX Corp | COMPLIANT | 1.08% | AAOIFI11.3% Usmani27.2% Dow Jones Islamic13.0% S&P Shariah12.7% MSCI Islamic27.2% MSCI Islamic M-Series12.7% FTSE Shariah26.8% |
| SBR Sabine Royalty Trust | COMPLIANT | 0.74% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| San Juan Basin Royalty Trust | UNSCREENED | 0.73% | no in-house ratios for this holding |
| ERII Energy Recovery Inc | COMPLIANT | 0.45% | AAOIFI2.1% Usmani4.2% Dow Jones Islamic1.1% S&P Shariah1.0% MSCI Islamic4.2% MSCI Islamic M-Series1.0% FTSE Shariah0.0% |
The published standards disagree about this fund by 8 points of portfolio weight — 54.9% of it passes AAOIFI, 47.3% passes Dow Jones 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 54.9% ratios fail on 20.9% 27.7% not rated under AAOIFI
ratios pass on 52.5% ratios fail on 25.7% 25.4% not rated under Usmani
ratios pass on 47.3% ratios fail on 25.1% 31.1% not rated under Dow Jones Islamic
ratios pass on 48.9% ratios fail on 23.6% 31.1% not rated under S&P Shariah
ratios pass on 51.2% ratios fail on 27.0% 25.4% not rated under MSCI Islamic
ratios pass on 47.3% ratios fail on 25.1% 31.1% not rated under MSCI Islamic M-Series
ratios pass on 54.3% ratios fail on 23.8% 25.4% not rated under FTSE Shariah
33 of 40 listed holdings carry our own per-methodology verdicts (84% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 30 (78% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
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.
Horizon Kinetics Energy and Remediation ETF (NVIR) 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 NVIR — 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) | 33.30 | NEUTRAL |
| Stochastic %K (14) | 3.48 | BUY |
| CCI (20) | -226.66 | BUY |
| Williams %R (14) | -96.52 | BUY |
| MACD (12,26,9) | -0.37 | SELL |
| ROC (10) | -7.42 | SELL |
| Momentum (10) | -3.00 | SELL |
| EMA (10) | 39.22 | SELL |
| SMA (10) | 39.87 | SELL |
| EMA (20) | 39.57 | SELL |
| SMA (20) | 39.96 | SELL |
| EMA (30) | 39.63 | SELL |
| SMA (30) | 39.51 | SELL |
| EMA (50) | 39.63 | SELL |
| SMA (50) | 39.71 | SELL |
| EMA (100) | 39.38 | SELL |
| SMA (100) | 39.39 | SELL |
| EMA (200) | 38.38 | SELL |
| SMA (200) | 39.21 | SELL |
About Horizon Kinetics Energy and Remediation ETF
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in securities of companies that are expected to benefit, either directly or indirectly, from the increasing focus on climate and environmentally sensitive carbon-based energy production. The fund is non-diversified.
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 | 43 |
| ⏲ 5-Min | NEUTRAL | 16 |
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.