TRZEXETF / FundT. Rowe Price Emerging Europe Fund
Verdicts genuinely change. Free email alert the moment TRZEX'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.
T. Rowe Price Emerging Europe Fund · T. ROWE PRICE INTERNATIONAL FUNDS, INC.
42 holdings
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 101% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT At least 45.47% of portfolio weight is in non-compliant holdings — already over the 5% threshold, so the verdict is settled whatever the unmatched 47% turns out to be. Matching more holdings can only raise this share, never lower it.
42 holdings, 20 matched (53% of weight). Portfolio as of 2026-07-31, filed 2026-09-25. Source: SEC Form N-PORT.
36.12% of this portfolio’s income is non-permissible — weighted across holdings, computed over 37% of portfolio weight (16 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.
Portfolio shares are withheld: coverage is below the floor needed to state one. The holdings themselves are below, because the names are evidence you can check.
All holdings (42)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| OTP BANK PLC | UNSCREENED | 17.22% | no in-house ratios for this holding |
| ETE.AT NATIONAL BANK OF GREECE | NON_COMPLIANT | 12.14% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| T. Rowe Price Government Reserve Fund | UNSCREENED | 8.74% | no in-house ratios for this holding |
| EUROB.AT EUROBANK SA | NON_COMPLIANT | 6.73% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HSBK.L HALYK SAVINGS BANK-GDR REG S GDR | NON_COMPLIANT | 4.98% | AAOIFI189.9% Usmani9.8% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic9.8% MSCI Islamic M-Seriesfail FTSE Shariah9.8% |
| PKO BANK POLSKI SA | UNSCREENED | 4.42% | no in-house ratios for this holding |
| BIMAS.IS BIM BIRLESIK MAGAZALAR AS | COMPLIANT | 4.36% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| CGEO.L GEORGIA CAPITAL PLC | NON_COMPLIANT | 4.06% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| Nebius Group NV | UNSCREENED | 3.70% | no in-house ratios for this holding |
| PZU.WA POWSZECHNY ZAKLAD UBEZPIECZEN | NON_COMPLIANT | 3.63% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| INPST.AS INPOST SA | NON_COMPLIANT | 2.60% | AAOIFI31.0% Usmani81.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic59.4% MSCI Islamic M-Seriesfail FTSE Shariah59.4% |
| HACI OMER SABANCI HOLDING | UNSCREENED | 2.51% | no in-house ratios for this holding |
| ALPHA.AT ALPHA BANK SA | NON_COMPLIANT | 2.36% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| KCHOL.IS KOC HOLDING AS | NON_COMPLIANT | 2.33% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| JSC KASPI.KZ ADR | UNSCREENED | 2.28% | no in-house ratios for this holding |
| AKBNK.IS AKBANK T.A.S. | NON_COMPLIANT | 2.22% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| BELA.AT JUMBO SA | COMPLIANT | 2.07% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| RICHTER GEDEON NYRT | UNSCREENED | 1.92% | no in-house ratios for this holding |
| BANK PEKAO SA | UNSCREENED | 1.85% | no in-house ratios for this holding |
| TUPRAS-TURKIYE PETROL RAFINE | UNSCREENED | 1.78% | no in-house ratios for this holding |
| TURKCELL ILETISIM HIZMET AS | UNSCREENED | 1.69% | no in-house ratios for this holding |
| ALE.WA ALLEGRO.EU SA | COMPLIANT | 1.40% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| THYAO.IS TURK HAVA YOLLARI AO | NON_COMPLIANT | 1.28% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| WIZZ.L WIZZ AIR HOLDINGS PLC | NON_COMPLIANT | 0.96% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| TAVHL.IS TAV HAVALIMANLARI HOLDING AS | NON_COMPLIANT | 0.89% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| LAMDA.AT LAMDA DEVELOPMENT SA | NON_COMPLIANT | 0.89% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| GRS - SECURITY LENDING COLLATERAL | UNSCREENED | 0.80% | no in-house ratios for this holding |
| MGROS.IS MIGROS TICARET A.S | NON_COMPLIANT | 0.41% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| BCG.L BALTIC CLASSIFIEDS GROUP | COMPLIANT | 0.33% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| CAML.L CENTRAL ASIA METALS PLC | COMPLIANT | 0.27% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| GCMEZZ.AT GALAXY COSMOS MEZZ PLC | NON_COMPLIANT | 0.01% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| SEGEZHA GROUP PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| SBERBANK OF RUSSIA PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| GAZPROM PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| SURGUTNEFTEGAS PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| MMC NORILSK NICKEL PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| ROSNEFT PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| NOVATEK PJSC OAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| MOSCOW EXCHANGE MICEX-RTS PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| LUKOIL PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| MAGNIT PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| KAZAKHSTAN KAGAZY PLC ORDINARY SHARES GDR | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 7 points of portfolio weight — 11.2% of it passes Usmani, 4.1% 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 8.4% ratios fail on 45.5% 46.9% not rated under AAOIFI
ratios pass on 11.2% ratios fail on 42.7% 46.9% not rated under Usmani
ratios pass on 4.1% ratios fail on 49.8% 46.9% not rated under Dow Jones Islamic
ratios pass on 4.1% ratios fail on 49.8% 46.9% not rated under S&P Shariah
ratios pass on 11.2% ratios fail on 42.7% 46.9% not rated under MSCI Islamic
ratios pass on 4.1% ratios fail on 49.8% 46.9% not rated under MSCI Islamic M-Series
ratios pass on 11.2% ratios fail on 42.7% 46.9% not rated under FTSE Shariah
20 of 42 listed holdings carry our own per-methodology verdicts (54% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 2 (8% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| ETE.AT NATIONAL BANK OF GREECE | 12.14% |
| EUROB.AT EUROBANK SA | 6.73% |
| HSBK.L HALYK SAVINGS BANK-GDR REG S GDR | 4.98% |
| CGEO.L GEORGIA CAPITAL PLC | 4.06% |
| PZU.WA POWSZECHNY ZAKLAD UBEZPIECZEN | 3.63% |
| INPST.AS INPOST SA | 2.60% |
| ALPHA.AT ALPHA BANK SA | 2.36% |
| KCHOL.IS KOC HOLDING AS | 2.33% |
| AKBNK.IS AKBANK T.A.S. | 2.22% |
| THYAO.IS TURK HAVA YOLLARI AO | 1.28% |
Trade setup
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
T. Rowe Price Emerging Europe Fund (TRZEX) 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 |
|---|---|---|
| OTP BANK PLCnot matched to a ticker | 17.22% | Not screened |
| ETE.ATNATIONAL BANK OF GREECE | 12.14% | Non-compliant |
| T. Rowe Price Government Reserve Fundnot matched to a ticker | 8.74% | Not screened |
| EUROB.ATEUROBANK SA | 6.73% | Non-compliant |
| HSBK.LHALYK SAVINGS BANK-GDR REG S GDR | 4.98% | Non-compliant |
| PKO BANK POLSKI SAnot matched to a ticker | 4.42% | Not screened |
| BIMAS.ISBIM BIRLESIK MAGAZALAR AS | 4.36% | Compliant |
| CGEO.LGEORGIA CAPITAL PLC | 4.06% | Non-compliant |
| Nebius Group NVnot matched to a ticker | 3.70% | Not screened |
| PZU.WAPOWSZECHNY ZAKLAD UBEZPIECZEN | 3.63% | Non-compliant |
Top 10 of 42 holdings, 70.0% 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.
- OTP BANK PLCnot screened17.22%
- ETE.ATnon-compliant12.14%
- T. Rowe Price Government Reserve Fundnot screened8.74%
- EUROB.ATnon-compliant6.73%
- HSBK.Lnon-compliant4.98%
- PKO BANK POLSKI SAnot screened4.42%
What changed, and when
Verdict history for TRZEX. 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 TRZEX 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 6 days - this is not a reading of today
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.
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) | 66.50 | NEUTRAL |
| Stochastic %K (14) | 50.00 | NEUTRAL |
| CCI (20) | 0.00 | NEUTRAL |
| Williams %R (14) | -50.00 | NEUTRAL |
| MACD (12,26,9) | -0.00 | SELL |
| ROC (10) | 0.00 | NEUTRAL |
| Momentum (10) | 0.00 | NEUTRAL |
| EMA (10) | 9.61 | BUY |
| SMA (10) | 9.61 | NEUTRAL |
| EMA (20) | 9.61 | BUY |
| SMA (20) | 9.61 | NEUTRAL |
| EMA (30) | 9.60 | BUY |
| SMA (30) | 9.61 | NEUTRAL |
| EMA (50) | 9.57 | BUY |
| SMA (50) | 9.61 | NEUTRAL |
| EMA (100) | 9.55 | BUY |
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.