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.
Tema U.S. Manufacturing & Reshoring ETF ETF · Tema ETF Trust
25 holdings · as of 2026-05-31 (3.6 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 12.46% of portfolio weight is in non-compliant holdings, over the 5% threshold.
25 holdings, 21 matched (90% of weight). Portfolio as of 2026-05-31, filed 2026-07-29. Source: SEC Form N-PORT.
0.41% of this portfolio’s income is non-permissible — weighted across holdings, computed over 67% of portfolio weight (16 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.
77.5% compliant 0.0% questionable 12.5% non-compliant 10.0% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| TKR Timken Co/The | COMPLIANT | 8.86% | AAOIFI25.5% Usmani31.9% Dow Jones Islamic35.3% S&P Shariah36.7% MSCI Islamic31.9% MSCI Islamic M-Series36.7% FTSE Shariah30.0% |
| POWL Powell Industries Inc | COMPLIANT | 7.81% | AAOIFI0.0% Usmani0.2% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.2% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| CGNX Cognex Corp | COMPLIANT | 7.64% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| CAT Caterpillar Inc | COMPLIANT | 6.57% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| ETN Eaton Corp PLC | COMPLIANT | 5.70% | AAOIFI13.4% Usmani38.0% Dow Jones Islamic15.6% S&P Shariah16.9% MSCI Islamic38.0% MSCI Islamic M-Series16.9% FTSE Shariah36.7% |
| GTES Gates Industrial Corp PLC | NON_COMPLIANT | 5.53% | AAOIFI34.0% Usmani30.2% Dow Jones Islamic38.1% S&P Shariah43.0% MSCI Islamic30.2% MSCI Islamic M-Series43.0% FTSE Shariah30.2% |
| ATI ATI Inc | COMPLIANT | 5.15% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| Applied Industrial Technologie | UNSCREENED | 5.04% | no in-house ratios for this holding |
| LIN Linde PLC | COMPLIANT | 4.84% | AAOIFI13.0% Usmani31.7% Dow Jones Islamic13.0% S&P Shariah13.4% MSCI Islamic31.7% MSCI Islamic M-Series13.4% FTSE Shariah31.7% |
| TEX Terex Corp | NON_COMPLIANT | 4.35% | AAOIFI37.4% Usmani26.0% Dow Jones Islamic61.8% S&P Shariah65.1% MSCI Islamic26.0% MSCI Islamic M-Series65.1% FTSE Shariah26.0% |
| ABBNY ABB Ltd | COMPLIANT | 3.86% | AAOIFI6.4% Usmani22.0% Dow Jones Islamic7.0% S&P Shariah8.0% MSCI Islamic20.3% MSCI Islamic M-Series8.0% FTSE Shariah20.3% |
| SPXC SPX Technologies Inc | COMPLIANT | 3.79% | AAOIFI6.2% Usmani15.6% Dow Jones Islamic6.9% S&P Shariah8.0% MSCI Islamic15.6% MSCI Islamic M-Series8.0% FTSE Shariah15.6% |
| TSM TSMC | COMPLIANT | 3.76% | AAOIFI1.5% Usmani13.8% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic13.4% MSCI Islamic M-Series0.6% FTSE Shariah13.4% |
| ROK Rockwell Automation Inc | COMPLIANT | 3.74% | AAOIFI6.1% Usmani26.4% Dow Jones Islamic7.6% S&P Shariah8.1% MSCI Islamic26.4% MSCI Islamic M-Series8.1% FTSE Shariah23.2% |
| MOD Modine Manufacturing Co | COMPLIANT | 3.74% | AAOIFI6.1% Usmani22.5% Dow Jones Islamic7.8% S&P Shariah9.3% MSCI Islamic22.4% MSCI Islamic M-Series9.3% FTSE Shariah17.3% |
| PH Parker-Hannifin Corp | COMPLIANT | 3.39% | AAOIFI7.0% Usmani27.5% Dow Jones Islamic8.5% S&P Shariah9.7% MSCI Islamic27.2% MSCI Islamic M-Series9.7% FTSE Shariah26.5% |
| IR Ingersoll Rand Inc | COMPLIANT | 3.35% | AAOIFI14.2% Usmani22.7% Dow Jones Islamic12.3% S&P Shariah12.3% MSCI Islamic22.7% MSCI Islamic M-Series12.3% FTSE Shariah22.4% |
| APG API Group Corp | COMPLIANT | 3.18% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| Solstice Advanced Materials In | UNSCREENED | 2.43% | no in-house ratios for this holding |
| Atmus Filtration Technologies | UNSCREENED | 1.79% | no in-house ratios for this holding |
| HON Honeywell International Inc | NON_COMPLIANT | 1.61% | AAOIFI52.6% Usmani45.3% Dow Jones Islamic26.8% S&P Shariah27.3% MSCI Islamic45.2% MSCI Islamic M-Series27.3% FTSE Shariah43.9% |
| CRH CRH PLC | COMPLIANT | 1.21% | AAOIFI31.8% Usmani33.7% Dow Jones Islamic27.6% S&P Shariah30.6% MSCI Islamic32.7% MSCI Islamic M-Series30.6% FTSE Shariah30.4% |
| WMB Williams Cos Inc/The | NON_COMPLIANT | 0.97% | AAOIFI35.0% Usmani50.0% Dow Jones Islamic41.0% S&P Shariah47.9% MSCI Islamic50.0% MSCI Islamic M-Series47.9% FTSE Shariah50.0% |
| MWH Solv Energy Inc | COMPLIANT | 0.92% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic— S&P Shariah— MSCI Islamic0.0% MSCI Islamic M-Series— FTSE Shariah0.0% |
| First American Treasury Obliga | UNSCREENED | 0.75% | no in-house ratios for this holding |
The published standards disagree about this fund by 7 points of portfolio weight — 52.8% of it passes AAOIFI, 45.5% 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 52.8% ratios fail on 13.7% 33.5% not rated under AAOIFI
ratios pass on 45.5% ratios fail on 21.0% 33.5% not rated under Usmani
ratios pass on 46.8% ratios fail on 19.7% 33.5% not rated under Dow Jones Islamic
ratios pass on 46.8% ratios fail on 19.7% 33.5% not rated under S&P Shariah
ratios pass on 46.7% ratios fail on 20.8% 32.6% not rated under MSCI Islamic
ratios pass on 46.8% ratios fail on 19.7% 33.5% not rated under MSCI Islamic M-Series
ratios pass on 46.7% ratios fail on 19.8% 33.5% not rated under FTSE Shariah
21 of 25 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. Of those, 17 (67% 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.
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
RSHO (RSHO) 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 RSHO — this runs off the critical path so the page paints first. It will appear here on its own.
Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, common and preferred stocks of publicly listed companies domiciled in the United States that are directly or indirectly economically tied to the rebuilding, bringing back of overseas economic activity, and revitalization of the American (i.e., United States) industrial base (“reshoring companies”). The fund is non-diversified.
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.
Still fetching insider filings — it ran past this page's budget, so the page painted without waiting. The fetch is still running; reload in a moment and it will be here.
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 2026-09-15 · Asset managers net 904684 (-7677)
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.