UPARETF / FundUPAR Ultra Risk Parity ETF
Verdicts genuinely change. Free email alert the moment UPAR'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.
UPAR Ultra Risk Parity ETF ETF · Tidal Trust I
150 holdings · as of 2026-06-30 (4.5 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 57.49% of portfolio weight is in non-compliant holdings, over the 5% threshold.
51.13% of that is conventional interest-bearing debt, identified from the fund's own filing rather than by screening an issuer. Sukuk are deliberately excluded from this test and are never counted here.
150 holdings, 120 matched (73% of weight). Portfolio as of 2026-06-30, filed 2026-08-25. Source: SEC Form N-PORT.
1.08% of this portfolio’s income is non-permissible — weighted across holdings, computed over 19% of portfolio weight (101 of 150 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.
13.1% compliant 0.0% questionable 57.5% non-compliant 26.5% unscreened
All holdings (150)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| SPDR Gold MiniShares Trust | UNSCREENED | 12.98% | no in-house ratios for this holding |
| United States Treasury Inflation Indexed Bonds | NON_COMPLIANT | 5.43% | no in-house ratios for this holding |
| Vanguard FTSE Emerging Markets | UNSCREENED | 5.21% | no in-house ratios for this holding |
| TSY INFL IX N/B | NON_COMPLIANT | 4.62% | no in-house ratios for this holding |
| TSY INFL IX N/B | NON_COMPLIANT | 4.61% | no in-house ratios for this holding |
| United States Treasury Inflation Indexed Bonds | NON_COMPLIANT | 4.43% | no in-house ratios for this holding |
| TSY INFL IX N/B | NON_COMPLIANT | 4.11% | no in-house ratios for this holding |
| United States Treasury Inflation Indexed Bonds | NON_COMPLIANT | 3.90% | no in-house ratios for this holding |
| Vanguard Extended Market ETF | UNSCREENED | 3.82% | no in-house ratios for this holding |
| TSY INFL IX N/B | NON_COMPLIANT | 3.53% | no in-house ratios for this holding |
| TSY INFL IX N/B | NON_COMPLIANT | 3.31% | no in-house ratios for this holding |
| TSY INFL IX N/B | NON_COMPLIANT | 3.15% | no in-house ratios for this holding |
| United States Treasury Inflation Indexed Bonds | NON_COMPLIANT | 3.12% | no in-house ratios for this holding |
| TSY INFL IX N/B | NON_COMPLIANT | 3.02% | no in-house ratios for this holding |
| Vanguard FTSE Developed Market | UNSCREENED | 2.60% | no in-house ratios for this holding |
| United States Treasury Inflation Indexed Bonds | NON_COMPLIANT | 2.55% | no in-house ratios for this holding |
| United States Treasury Inflation Indexed Bonds | NON_COMPLIANT | 2.19% | no in-house ratios for this holding |
| United States Treasury Inflation Indexed Bonds | NON_COMPLIANT | 1.93% | no in-house ratios for this holding |
| DE Deere & Co | NON_COMPLIANT | 1.81% | AAOIFI9.1% Usmani15.9% Dow Jones Islamic12.7% S&P Shariah13.8% MSCI Islamic15.9% MSCI Islamic M-Series13.8% FTSE Shariah15.9% |
| XOM Exxon Mobil Corp | COMPLIANT | 1.63% | AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1% |
| TSY INFL IX N/B | NON_COMPLIANT | 1.23% | no in-house ratios for this holding |
| BHP BHP Group Ltd | COMPLIANT | 1.17% | AAOIFI6.7% Usmani19.8% Dow Jones Islamic7.1% S&P Shariah7.4% MSCI Islamic19.8% MSCI Islamic M-Series7.4% FTSE Shariah19.8% |
| CVX Chevron Corp | COMPLIANT | 0.94% | AAOIFI0.1% Usmani0.1% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.1% MSCI Islamic M-Series0.1% FTSE Shariah0.1% |
| RIO Rio Tinto PLC | COMPLIANT | 0.92% | AAOIFI16.8% Usmani17.1% Dow Jones Islamic24.7% S&P Shariah26.4% MSCI Islamic17.1% MSCI Islamic M-Series26.4% FTSE Shariah17.1% |
| SCCO Southern Copper Corp | COMPLIANT | 0.77% | AAOIFI4.9% Usmani35.7% Dow Jones Islamic8.2% S&P Shariah9.3% MSCI Islamic35.7% MSCI Islamic M-Series9.3% FTSE Shariah33.1% |
| SHEL Shell PLC | COMPLIANT | 0.62% | AAOIFI38.4% Usmani20.4% Dow Jones Islamic17.6% S&P Shariah18.0% MSCI Islamic20.4% MSCI Islamic M-Series18.0% FTSE Shariah20.4% |
| CTVA Corteva Inc | COMPLIANT | 0.59% | AAOIFI55.0% Usmani8.0% Dow Jones Islamic7.3% S&P Shariah7.9% MSCI Islamic8.0% MSCI Islamic M-Series7.9% FTSE Shariah8.0% |
| N/A | UNSCREENED | 0.55% | no in-house ratios for this holding |
| TTE.PA TotalEnergies SE | NON_COMPLIANT | 0.52% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| FCX Freeport-McMoRan Inc | COMPLIANT | 0.49% | AAOIFI12.2% Usmani16.8% Dow Jones Islamic14.2% S&P Shariah14.9% MSCI Islamic16.8% MSCI Islamic M-Series14.9% FTSE Shariah15.3% |
| GLEN.L Glencore PLC | NON_COMPLIANT | 0.46% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| VALE3.SA Vale SA | NON_COMPLIANT | 0.37% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| COP ConocoPhillips | COMPLIANT | 0.36% | AAOIFI14.4% Usmani18.7% Dow Jones Islamic19.1% S&P Shariah18.8% MSCI Islamic18.7% MSCI Islamic M-Series18.8% FTSE Shariah18.7% |
| AAL.L Anglo American PLC | COMPLIANT | 0.31% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| NTR Nutrien Ltd | NON_COMPLIANT | 0.31% | AAOIFI20.4% Usmani18.9% Dow Jones Islamic28.7% S&P Shariah30.8% MSCI Islamic18.9% MSCI Islamic M-Series30.8% FTSE Shariah18.9% |
| BP BP PLC | NON_COMPLIANT | 0.29% | AAOIFI63.6% Usmani20.8% Dow Jones Islamic10.5% S&P Shariah10.9% MSCI Islamic20.8% MSCI Islamic M-Series10.9% FTSE Shariah20.8% |
| ANTO.L Antofagasta PLC | COMPLIANT | 0.27% | AAOIFI13.1% Usmani27.4% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic26.8% MSCI Islamic M-Seriespass FTSE Shariah26.8% |
| ECL Ecolab Inc | COMPLIANT | 0.27% | AAOIFI17.0% Usmani44.6% Dow Jones Islamic18.1% S&P Shariah19.4% MSCI Islamic44.6% MSCI Islamic M-Series19.4% FTSE Shariah44.0% |
| 3993.HK CMOC Group Ltd | COMPLIANT | 0.26% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| CCJ Cameco Corp | COMPLIANT | 0.24% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| Sociedad Quimica y Minera de C | UNSCREENED | 0.24% | no in-house ratios for this holding |
| CNQ Canadian Natural Resources Ltd | COMPLIANT | 0.24% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| FSUGY Fortescue Ltd | COMPLIANT | 0.24% | AAOIFI11.4% Usmani20.8% Dow Jones Islamic8.1% S&P Shariah7.7% MSCI Islamic18.8% MSCI Islamic M-Series7.7% FTSE Shariah18.8% |
| EQNR Equinor ASA | NON_COMPLIANT | 0.23% | AAOIFI2.5% Usmani18.0% Dow Jones Islamic32.5% S&P Shariah32.6% MSCI Islamic18.0% MSCI Islamic M-Series32.6% FTSE Shariah18.0% |
| VWS.CO Vestas Wind Systems A/S | COMPLIANT | 0.22% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| E Eni SpA | NON_COMPLIANT | 0.20% | AAOIFI42.7% Usmani20.8% Dow Jones Islamic28.0% S&P Shariah29.8% MSCI Islamic20.8% MSCI Islamic M-Series29.8% FTSE Shariah20.8% |
| 6326.T Kubota Corp | NON_COMPLIANT | 0.20% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| EOG EOG Resources Inc | COMPLIANT | 0.20% | AAOIFI10.8% Usmani15.1% Dow Jones Islamic12.6% S&P Shariah12.5% MSCI Islamic15.1% MSCI Islamic M-Series12.5% FTSE Shariah14.5% |
| F34.SI Wilmar International Ltd | NON_COMPLIANT | 0.20% | AAOIFI169.2% Usmani47.9% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic47.4% MSCI Islamic M-Seriesfail FTSE Shariah47.4% |
| SU Suncor Energy Inc | COMPLIANT | 0.19% | AAOIFI13.4% Usmani21.2% Dow Jones Islamic19.8% S&P Shariah21.8% MSCI Islamic16.1% MSCI Islamic M-Series21.8% FTSE Shariah16.1% |
| CF CF Industries Holdings Inc | COMPLIANT | 0.18% | AAOIFI17.9% Usmani23.9% Dow Jones Islamic24.1% S&P Shariah24.7% MSCI Islamic23.9% MSCI Islamic M-Series24.7% FTSE Shariah21.3% |
| TECK Teck Resources Ltd | COMPLIANT | 0.17% | AAOIFI11.1% Usmani8.6% Dow Jones Islamic12.4% S&P Shariah12.9% MSCI Islamic8.6% MSCI Islamic M-Series12.9% FTSE Shariah8.6% |
| IMO Imperial Oil Ltd | COMPLIANT | 0.16% | AAOIFI4.1% Usmani8.8% Dow Jones Islamic5.7% S&P Shariah6.3% MSCI Islamic7.7% MSCI Islamic M-Series6.3% FTSE Shariah7.2% |
| N/A | UNSCREENED | 0.16% | no in-house ratios for this holding |
| CNH Industrial NV | UNSCREENED | 0.16% | no in-house ratios for this holding |
| FSLR First Solar Inc | COMPLIANT | 0.14% | AAOIFI0.9% Usmani1.4% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.2% MSCI Islamic M-Series0.7% FTSE Shariah0.3% |
| FANG Diamondback Energy Inc | COMPLIANT | 0.14% | AAOIFI22.6% Usmani18.0% Dow Jones Islamic28.3% S&P Shariah31.9% MSCI Islamic18.0% MSCI Islamic M-Series31.9% FTSE Shariah18.0% |
| DVN Devon Energy Corp | COMPLIANT | 0.14% | AAOIFI21.0% Usmani15.8% Dow Jones Islamic40.0% S&P Shariah40.6% MSCI Islamic15.8% MSCI Islamic M-Series40.6% FTSE Shariah15.0% |
| CVE Cenovus Energy Inc | COMPLIANT | 0.14% | AAOIFI13.4% Usmani17.3% Dow Jones Islamic23.2% S&P Shariah23.5% MSCI Islamic17.3% MSCI Islamic M-Series23.5% FTSE Shariah17.3% |
| OXY Occidental Petroleum Corp | NON_COMPLIANT | 0.14% | AAOIFI24.4% Usmani19.4% Dow Jones Islamic31.4% S&P Shariah30.3% MSCI Islamic18.2% MSCI Islamic M-Series30.3% FTSE Shariah17.1% |
| LUN.TO Lundin Mining Corp | COMPLIANT | 0.12% | AAOIFI1.9% Usmani6.1% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic4.2% MSCI Islamic M-Seriespass FTSE Shariah4.2% |
| YARIY Yara International ASA | NON_COMPLIANT | 0.12% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| FM.TO First Quantum Minerals Ltd | COMPLIANT | 0.11% | AAOIFI21.3% Usmani23.4% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic23.4% MSCI Islamic M-Seriesfail FTSE Shariah23.4% |
| NXT Nextpower Inc | COMPLIANT | 0.11% | AAOIFI0.3% Usmani0.9% Dow Jones Islamic0.4% S&P Shariah0.5% MSCI Islamic0.9% MSCI Islamic M-Series0.5% FTSE Shariah0.0% |
| WDS Woodside Energy Group Ltd | NON_COMPLIANT | 0.11% | AAOIFI17.4% Usmani16.8% Dow Jones Islamic34.3% S&P Shariah34.6% MSCI Islamic16.8% MSCI Islamic M-Series34.6% FTSE Shariah16.8% |
| TTC Toro Co/The | COMPLIANT | 0.10% | AAOIFI12.0% Usmani30.5% Dow Jones Islamic13.4% S&P Shariah13.0% MSCI Islamic30.5% MSCI Islamic M-Series13.0% FTSE Shariah27.2% |
| 0358.HK Jiangxi Copper Co Ltd | NON_COMPLIANT | 0.10% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| VIE.PA Veolia Environnement SA | NON_COMPLIANT | 0.10% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| KAP.L NAC Kazatomprom JSC | COMPLIANT | 0.10% | AAOIFI6.5% Usmani5.5% Dow Jones Islamic— S&P Shariah— MSCI Islamic5.5% MSCI Islamic M-Series— FTSE Shariah5.5% |
| EQT EQT Corp | COMPLIANT | 0.10% | AAOIFI16.4% Usmani13.7% Dow Jones Islamic18.1% S&P Shariah21.8% MSCI Islamic13.7% MSCI Islamic M-Series21.8% FTSE Shariah13.7% |
| AGCO Corp | UNSCREENED | 0.09% | no in-house ratios for this holding |
| Xylem Inc/NY | UNSCREENED | 0.09% | no in-house ratios for this holding |
| NDX1.DE Nordex SE | COMPLIANT | 0.09% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| AWK American Water Works Co Inc | NON_COMPLIANT | 0.09% | AAOIFI58.8% Usmani42.8% Dow Jones Islamic60.7% S&P Shariah62.1% MSCI Islamic42.8% MSCI Islamic M-Series62.1% FTSE Shariah42.6% |
| GEBN.SW Geberit AG | COMPLIANT | 0.08% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| BOL.ST Boliden AB | COMPLIANT | 0.08% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| 5706.T Mitsui Kinzoku Co Ltd | COMPLIANT | 0.08% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| GOLDWIND | UNSCREENED | 0.08% | no in-house ratios for this holding |
| REP.MC Repsol SA | NON_COMPLIANT | 0.08% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| Sigenergy Technology Co Ltd | UNSCREENED | 0.08% | no in-house ratios for this holding |
| N/A | UNSCREENED | 0.08% | no in-house ratios for this holding |
| ECOPETROL.CL Ecopetrol SA | NON_COMPLIANT | 0.07% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| MOS Mosaic Co/The | NON_COMPLIANT | 0.07% | AAOIFI60.0% Usmani20.5% Dow Jones Islamic59.7% S&P Shariah57.0% MSCI Islamic20.5% MSCI Islamic M-Series57.0% FTSE Shariah19.6% |
| 1605.T Inpex Corp | NON_COMPLIANT | 0.07% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 5713.T Sumitomo Metal Mining Co Ltd | COMPLIANT | 0.07% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| LYC.AX Lynas Rare Earths Ltd | COMPLIANT | 0.07% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| S32.AX South32 Ltd | COMPLIANT | 0.07% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| SALM.OL Salmar ASA | COMPLIANT | 0.07% | AAOIFI28.9% Usmani43.2% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic40.2% MSCI Islamic M-Seriespass FTSE Shariah40.2% |
| IVN.TO Ivanhoe Mines Ltd | NON_COMPLIANT | 0.07% | AAOIFI10.4% Usmani16.7% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic16.6% MSCI Islamic M-Seriesfail FTSE Shariah16.6% |
| Cia de Saneamento Basico do Es | UNSCREENED | 0.07% | no in-house ratios for this holding |
| HLMA.L Halma PLC | COMPLIANT | 0.06% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| EXE Expand Energy Corp | COMPLIANT | 0.06% | AAOIFI22.5% Usmani17.3% Dow Jones Islamic22.5% S&P Shariah27.7% MSCI Islamic17.3% MSCI Islamic M-Series27.7% FTSE Shariah17.0% |
| 1208.HK MMG Ltd | COMPLIANT | 0.06% | AAOIFIpass Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| OMV.VI OMV AG | NON_COMPLIANT | 0.06% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| IEX IDEX Corp | COMPLIANT | 0.06% | AAOIFI11.3% Usmani27.2% Dow Jones Islamic13.0% S&P Shariah12.7% MSCI Islamic27.2% MSCI Islamic M-Series12.7% FTSE Shariah26.8% |
| AKRBP.OL Aker BP ASA | NON_COMPLIANT | 0.06% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| MP MP Materials Corp | NON_COMPLIANT | 0.05% | AAOIFI15.1% Usmani25.2% Dow Jones Islamic11.7% S&P Shariah15.0% MSCI Islamic25.2% MSCI Islamic M-Series15.0% FTSE Shariah24.7% |
| NDA.DE Aurubis AG | COMPLIANT | 0.05% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| PLS.AX PLS Group Ltd | NON_COMPLIANT | 0.05% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| HBM Hudbay Minerals Inc | COMPLIANT | 0.05% | AAOIFI5.7% Usmani16.2% Dow Jones Islamic17.1% S&P Shariah22.3% MSCI Islamic16.2% MSCI Islamic M-Series22.3% FTSE Shariah16.2% |
| Tourmaline Oil Corp | UNSCREENED | 0.05% | no in-house ratios for this holding |
| STO.AX Santos Ltd | NON_COMPLIANT | 0.05% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| Mineral Resources Ltd | UNSCREENED | 0.05% | no in-house ratios for this holding |
| GALP.LS Galp Energia SGPS SA | COMPLIANT | 0.05% | AAOIFIpass Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| YPF YPF SA | NON_COMPLIANT | 0.04% | AAOIFI50.8% Usmani35.9% Dow Jones Islamic72.8% S&P Shariah88.1% MSCI Islamic35.9% MSCI Islamic M-Series88.1% FTSE Shariah35.9% |
| PR Permian Resources Corp | COMPLIANT | 0.04% | AAOIFI16.0% Usmani17.0% Dow Jones Islamic25.3% S&P Shariah28.1% MSCI Islamic16.9% MSCI Islamic M-Series28.1% FTSE Shariah16.2% |
| PNR Pentair PLC | COMPLIANT | 0.04% | AAOIFI19.0% Usmani25.1% Dow Jones Islamic11.6% S&P Shariah12.5% MSCI Islamic25.1% MSCI Islamic M-Series12.5% FTSE Shariah23.2% |
| OVV Ovintiv Inc | NON_COMPLIANT | 0.04% | AAOIFI28.2% Usmani25.9% Dow Jones Islamic39.8% S&P Shariah41.0% MSCI Islamic25.3% MSCI Islamic M-Series41.0% FTSE Shariah18.3% |
| SMG Scotts Miracle-Gro Co/The | NON_COMPLIANT | 0.04% | AAOIFI71.9% Usmani79.0% Dow Jones Islamic70.4% S&P Shariah73.0% MSCI Islamic78.6% MSCI Islamic M-Series73.0% FTSE Shariah66.7% |
| N/A | UNSCREENED | 0.04% | no in-house ratios for this holding |
| WMS Advanced Drainage Systems Inc | COMPLIANT | 0.04% | AAOIFI16.0% Usmani40.8% Dow Jones Islamic16.1% S&P Shariah15.7% MSCI Islamic37.4% MSCI Islamic M-Series15.7% FTSE Shariah35.8% |
| ENPH Enphase Energy Inc | COMPLIANT | 0.04% | AAOIFI11.9% Usmani22.5% Dow Jones Islamic9.1% S&P Shariah6.3% MSCI Islamic22.5% MSCI Islamic M-Series6.3% FTSE Shariah21.0% |
| SVT.L Severn Trent PLC | NON_COMPLIANT | 0.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| UU.L United Utilities Group PLC | NON_COMPLIANT | 0.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| N/A | UNSCREENED | 0.04% | no in-house ratios for this holding |
| TATE.L Tate & Lyle PLC | NON_COMPLIANT | 0.04% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| WTRG Essential Utilities Inc | NON_COMPLIANT | 0.04% | AAOIFI74.1% Usmani42.5% Dow Jones Islamic81.4% S&P Shariah84.9% MSCI Islamic42.5% MSCI Islamic M-Series84.9% FTSE Shariah42.4% |
| CS.TO Capstone Copper Corp | COMPLIANT | 0.04% | AAOIFI14.9% Usmani22.4% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic18.5% MSCI Islamic M-Seriespass FTSE Shariah18.5% |
| MWH Solv Energy Inc | COMPLIANT | 0.03% | AAOIFI0.0% Usmani0.0% Dow Jones Islamic— S&P Shariah— MSCI Islamic0.0% MSCI Islamic M-Series— FTSE Shariah0.0% |
| NexGen Energy Ltd | UNSCREENED | 0.03% | no in-house ratios for this holding |
| PLUG Plug Power Inc | COMPLIANT | 0.03% | AAOIFI25.2% Usmani37.6% Dow Jones Islamic31.7% S&P Shariah31.3% MSCI Islamic36.3% MSCI Islamic M-Series31.3% FTSE Shariah26.5% |
| FLNC Fluence Energy Inc | COMPLIANT | 0.03% | AAOIFI21.6% Usmani15.8% Dow Jones Islamic15.5% S&P Shariah13.9% MSCI Islamic15.8% MSCI Islamic M-Series13.9% FTSE Shariah15.0% |
| SDF.DE K+S AG | COMPLIANT | 0.03% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| Zurn Elkay Water Solutions Cor | UNSCREENED | 0.03% | no in-house ratios for this holding |
| KWS Saat SE & Co KGaA | UNSCREENED | 0.03% | no in-house ratios for this holding |
| 601865.SS Flat Glass Group Co Ltd | NON_COMPLIANT | 0.03% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| BAKKA.OL Bakkafrost P/F | COMPLIANT | 0.03% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| RUN Sunrun Inc | NON_COMPLIANT | 0.03% | AAOIFI705.9% Usmani65.2% Dow Jones Islamic502.4% S&P Shariah503.0% MSCI Islamic65.0% MSCI Islamic M-Series503.0% FTSE Shariah64.9% |
| P8Z.SI Bumitama Agri Ltd | COMPLIANT | 0.03% | AAOIFI7.5% Usmani15.1% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic15.1% MSCI Islamic M-Seriespass FTSE Shariah15.1% |
| SZU.DE Suedzucker AG | NON_COMPLIANT | 0.03% | AAOIFI89.9% Usmani26.8% Dow Jones Islamic— S&P Shariah— MSCI Islamic25.7% MSCI Islamic M-Series— FTSE Shariah25.7% |
| SCHO.CO Schouw & Co A/S | NON_COMPLIANT | 0.02% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| TTEK Tetra Tech Inc | COMPLIANT | 0.02% | AAOIFI11.2% Usmani23.3% Dow Jones Islamic11.0% S&P Shariah10.9% MSCI Islamic23.3% MSCI Islamic M-Series10.9% FTSE Shariah18.3% |
| HUSQ-B.ST Husqvarna AB | NON_COMPLIANT | 0.02% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| LSG.OL Leroy Seafood Group ASA | NON_COMPLIANT | 0.02% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| ALG Alamo Group Inc | COMPLIANT | 0.02% | AAOIFI13.2% Usmani16.2% Dow Jones Islamic12.6% S&P Shariah12.5% MSCI Islamic16.2% MSCI Islamic M-Series12.5% FTSE Shariah15.2% |
| 2607.T FUJI OIL CO LTD /Osaka | NON_COMPLIANT | 0.02% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicfail MSCI Islamic M-Seriesfail FTSE Shariahfail |
| 2419.HK Dekon Food And Agriculture Gro | NON_COMPLIANT | 0.02% | AAOIFI33.9% Usmani39.6% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic27.0% MSCI Islamic M-Seriesfail FTSE Shariah27.0% |
| SEDG SolarEdge Technologies Inc | UNRATED | 0.02% | AAOIFI2.0% Usmani2.7% Dow Jones Islamic2.4% S&P Shariah1.7% MSCI Islamic1.8% MSCI Islamic M-Series1.7% FTSE Shariah0.0% |
| Hainan Drinda New Energy Technology Co Ltd | UNSCREENED | 0.02% | no in-house ratios for this holding |
| China Youran Dairy Group Ltd | UNSCREENED | 0.02% | no in-house ratios for this holding |
| AUSS.OL Austevoll Seafood ASA | NON_COMPLIANT | 0.02% | AAOIFIfail Usmanifail Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| China XLX Fertiliser Ltd | UNSCREENED | 0.02% | no in-house ratios for this holding |
| 0038.HK First Tractor Co Ltd | NON_COMPLIANT | 0.01% | AAOIFIfail Usmanipass Dow Jones Islamicfail S&P Shariahfail MSCI Islamicpass MSCI Islamic M-Seriesfail FTSE Shariahpass |
| 485A.T PowerX Inc | COMPLIANT | 0.01% | AAOIFI3.9% Usmani30.9% Dow Jones Islamic— S&P Shariah— MSCI Islamic28.3% MSCI Islamic M-Series— FTSE Shariah28.3% |
| Gazprom PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| GMK Norilskiy Nickel PAO | UNSCREENED | 0.00% | no in-house ratios for this holding |
| LUKOIL PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Novatek PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| PhosAgro PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Rosneft Oil Co PJSC | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 3 points of portfolio weight — 14.8% of it passes FTSE Shariah, 12.1% passes AAOIFI. 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 12.1% ratios fail on 6.6% 78.4% not rated under AAOIFI
ratios pass on 13.9% ratios fail on 4.4% 78.9% not rated under Usmani
ratios pass on 12.4% ratios fail on 5.8% 79.0% not rated under Dow Jones Islamic
ratios pass on 12.4% ratios fail on 5.7% 79.0% not rated under S&P Shariah
ratios pass on 13.3% ratios fail on 5.0% 78.8% not rated under MSCI Islamic
ratios pass on 12.3% ratios fail on 5.8% 79.0% not rated under MSCI Islamic M-Series
ratios pass on 14.8% ratios fail on 3.5% 78.9% not rated under FTSE Shariah
105 of 150 listed holdings carry our own per-methodology verdicts (19% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 63 (15% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| United States Treasury Inflation Indexed Bonds | 5.43% |
| TSY INFL IX N/B | 4.62% |
| TSY INFL IX N/B | 4.61% |
| United States Treasury Inflation Indexed Bonds | 4.43% |
| TSY INFL IX N/B | 4.11% |
| United States Treasury Inflation Indexed Bonds | 3.90% |
| TSY INFL IX N/B | 3.53% |
| TSY INFL IX N/B | 3.31% |
| TSY INFL IX N/B | 3.15% |
| United States Treasury Inflation Indexed Bonds | 3.12% |
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.
UPAR Ultra Risk Parity ETF (UPAR) 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 UPAR — 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) | 36.30 | NEUTRAL |
| Stochastic %K (14) | 8.99 | BUY |
| CCI (20) | -227.58 | BUY |
| Williams %R (14) | -91.01 | BUY |
| MACD (12,26,9) | -0.05 | SELL |
| ROC (10) | -3.18 | SELL |
| Momentum (10) | -0.48 | SELL |
| EMA (10) | 15.06 | SELL |
| SMA (10) | 15.12 | SELL |
| EMA (20) | 15.16 | SELL |
| SMA (20) | 15.23 | SELL |
| EMA (30) | 15.22 | SELL |
| SMA (30) | 15.18 | SELL |
| EMA (50) | 15.35 | SELL |
| SMA (50) | 15.34 | SELL |
| EMA (100) | 15.56 | SELL |
| SMA (100) | 15.65 | SELL |
| EMA (200) | 15.68 | SELL |
| SMA (200) | 15.95 | SELL |
About UPAR Ultra Risk Parity ETF
The fund is an actively-managed ETF that seeks to replicate the returns of the Advanced Research Ultra Risk Parity Index (the “UPAR Index”). The UPAR Index is designed to provide leveraged exposure to the RPAR Index by using an implied financing rate to target 1.4 times the asset class exposures of the RPAR Index at each quarterly rebalance. It is non-diversified.
Background via Yahoo Finance — informational, not part of the verdict.
Weak — low conviction, small size or skip
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 |
| ⏱ 15-Min | BEARISH | 30 |
| ⏲ 5-Min | BEARISH | 92 |
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.