WCAPETF / FundWarCap Unconstrained Equity ETF
Verdicts genuinely change. Free email alert the moment WCAP'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.
WarCap Unconstrained Equity ETF · SPINNAKER ETF SERIES
47 holdings · as of 2026-07-31 (3.5 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.
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 16.93% of portfolio weight is in non-compliant holdings, over the 5% threshold.
47 holdings, 32 matched (72% of weight). Portfolio as of 2026-07-31, filed 2026-09-28. Source: SEC Form N-PORT.
3.00% of this portfolio’s income is non-permissible — weighted across holdings, computed over 68% of portfolio weight (30 of 47 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.
35.0% compliant 19.8% questionable 16.8% non-compliant 28.4% unscreened
All holdings (47)
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| MSFT Microsoft Corp | QUESTIONABLE | 6.04% | AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3% |
| GOOG Alphabet Inc | QUESTIONABLE | 5.77% | AAOIFI2.9% Usmani13.1% Dow Jones Islamic3.9% S&P Shariah4.5% MSCI Islamic12.8% MSCI Islamic M-Series4.5% FTSE Shariah10.9% |
| First Trust SMID Cap | UNSCREENED | 5.01% | no in-house ratios for this holding |
| iShares MSCI ACWI ex | UNSCREENED | 4.99% | no in-house ratios for this holding |
| NVDA NVIDIA Corp | COMPLIANT | 4.92% | AAOIFI1.1% Usmani12.1% Dow Jones Islamic0.9% S&P Shariah1.1% MSCI Islamic12.1% MSCI Islamic M-Series1.1% FTSE Shariah10.4% |
| AMZN Amazon.com Inc | QUESTIONABLE | 4.40% | AAOIFI8.2% Usmani22.1% Dow Jones Islamic9.6% S&P Shariah10.6% MSCI Islamic20.9% MSCI Islamic M-Series10.6% FTSE Shariah12.1% |
| UMB MONEY MARKET | UNSCREENED | 4.36% | no in-house ratios for this holding |
| NEE NextEra Energy Inc | NON_COMPLIANT | 4.22% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| AVGO Broadcom Inc | COMPLIANT | 4.10% | AAOIFI3.8% Usmani32.5% Dow Jones Islamic4.4% S&P Shariah5.5% MSCI Islamic32.5% MSCI Islamic M-Series5.5% FTSE Shariah32.5% |
| AAPL Apple Inc | COMPLIANT | 3.04% | AAOIFI2.1% Usmani21.5% Dow Jones Islamic2.2% S&P Shariah2.4% MSCI Islamic21.5% MSCI Islamic M-Series2.4% FTSE Shariah21.5% |
| Bank of New York Mel | UNSCREENED | 2.56% | no in-house ratios for this holding |
| XOM Exxon Mobil Corp | COMPLIANT | 2.54% | AAOIFI6.5% Usmani9.1% Dow Jones Islamic8.5% S&P Shariah9.0% MSCI Islamic9.1% MSCI Islamic M-Series9.0% FTSE Shariah9.1% |
| MA Mastercard Inc | COMPLIANT | 2.34% | AAOIFI4.9% Usmani42.7% Dow Jones Islamic37.5% S&P Shariah40.1% MSCI Islamic42.7% MSCI Islamic M-Series40.1% FTSE Shariah42.7% |
| CB Chubb Ltd | NON_COMPLIANT | 2.29% | AAOIFI13.3% Usmani6.3% Dow Jones Islamic14.8% S&P Shariah15.8% MSCI Islamic6.3% MSCI Islamic M-Series15.8% FTSE Shariah6.3% |
| AMGN Amgen Inc | COMPLIANT | 2.20% | AAOIFI24.9% Usmani59.9% Dow Jones Islamic33.6% S&P Shariah35.1% MSCI Islamic59.9% MSCI Islamic M-Series35.1% FTSE Shariah59.9% |
| Costco Wholesale Cor | UNSCREENED | 2.10% | no in-house ratios for this holding |
| GS Goldman Sachs Group | NON_COMPLIANT | 2.00% | AAOIFI147.5% Usmani20.6% Dow Jones Islamic194.6% S&P Shariah229.2% MSCI Islamic20.6% MSCI Islamic M-Series229.2% FTSE Shariah20.6% |
| META META PLATFORMS INC. | QUESTIONABLE | 1.92% | AAOIFI7.2% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.9% MSCI Islamic25.0% MSCI Islamic M-Series7.9% FTSE Shariah18.6% |
| UNP Union Pacific Corp | COMPLIANT | 1.91% | AAOIFI18.2% Usmani43.8% Dow Jones Islamic22.0% S&P Shariah22.4% MSCI Islamic43.8% MSCI Islamic M-Series22.4% FTSE Shariah42.6% |
| LLY Eli Lilly & Co | COMPLIANT | 1.88% | AAOIFI5.2% Usmani38.6% Dow Jones Islamic6.4% S&P Shariah6.9% MSCI Islamic38.6% MSCI Islamic M-Series6.9% FTSE Shariah38.6% |
| WMT Walmart Inc | QUESTIONABLE | 1.86% | AAOIFI6.4% Usmani21.5% Dow Jones Islamic6.9% S&P Shariah8.0% MSCI Islamic19.2% MSCI Islamic M-Series8.0% FTSE Shariah13.6% |
| FSLR First Solar Inc | COMPLIANT | 1.81% | AAOIFI0.9% Usmani1.4% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.2% MSCI Islamic M-Series0.7% FTSE Shariah0.3% |
| BLK BlackRock Inc | NON_COMPLIANT | 1.79% | AAOIFI7.0% Usmani7.2% Dow Jones Islamic8.1% S&P Shariah8.9% MSCI Islamic7.2% MSCI Islamic M-Series8.9% FTSE Shariah7.2% |
| GE General Electric Co | NON_COMPLIANT | 1.77% | AAOIFI6.4% Usmani16.1% Dow Jones Islamic7.2% S&P Shariah8.3% MSCI Islamic16.1% MSCI Islamic M-Series8.3% FTSE Shariah15.3% |
| MS Morgan Stanley | NON_COMPLIANT | 1.72% | AAOIFI115.6% Usmani23.4% Dow Jones Islamic161.6% S&P Shariah189.1% MSCI Islamic23.4% MSCI Islamic M-Series189.1% FTSE Shariah23.4% |
| AXP American Express Co | NON_COMPLIANT | 1.65% | AAOIFI26.8% Usmani19.2% Dow Jones Islamic27.4% S&P Shariah30.8% MSCI Islamic19.2% MSCI Islamic M-Series30.8% FTSE Shariah19.2% |
| ABBV AbbVie Inc | COMPLIANT | 1.64% | AAOIFIpass Usmanifail Dow Jones Islamicpass S&P Shariahpass MSCI Islamicfail MSCI Islamic M-Seriespass FTSE Shariahfail |
| Micron Technology In | UNSCREENED | 1.62% | no in-house ratios for this holding |
| CVX Chevron Corp | COMPLIANT | 1.61% | AAOIFI0.1% Usmani0.1% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.1% MSCI Islamic M-Series0.1% FTSE Shariah0.1% |
| ORCL Oracle Corp | NON_COMPLIANT | 1.49% | AAOIFI34.1% Usmani64.0% Dow Jones Islamic30.7% S&P Shariah35.2% MSCI Islamic61.0% MSCI Islamic M-Series35.2% FTSE Shariah49.5% |
| KO Coca-Cola Co/The | COMPLIANT | 1.43% | AAOIFI11.9% Usmani43.4% Dow Jones Islamic14.9% S&P Shariah15.9% MSCI Islamic43.4% MSCI Islamic M-Series15.9% FTSE Shariah41.8% |
| CAT Caterpillar Inc | COMPLIANT | 1.33% | AAOIFI1.6% Usmani5.3% Dow Jones Islamic2.0% S&P Shariah2.4% MSCI Islamic5.3% MSCI Islamic M-Series2.4% FTSE Shariah5.3% |
| Marriott Internation | UNSCREENED | 1.22% | no in-house ratios for this holding |
| Advanced Micro | UNSCREENED | 1.08% | no in-house ratios for this holding |
| Palo Alto Networks I | UNSCREENED | 1.08% | no in-house ratios for this holding |
| JNJ Johnson & Johnson | COMPLIANT | 1.04% | AAOIFI7.6% Usmani24.4% Dow Jones Islamic10.9% S&P Shariah11.7% MSCI Islamic24.4% MSCI Islamic M-Series11.7% FTSE Shariah24.4% |
| UnitedHealth Group I | UNSCREENED | 1.02% | no in-house ratios for this holding |
| Live Nation Entertai | UNSCREENED | 1.00% | no in-house ratios for this holding |
| PH Parker-Hannifin Corp | COMPLIANT | 0.96% | AAOIFI7.0% Usmani27.5% Dow Jones Islamic8.5% S&P Shariah9.7% MSCI Islamic27.2% MSCI Islamic M-Series9.7% FTSE Shariah26.5% |
| Palantir Technologie | UNSCREENED | 0.92% | no in-house ratios for this holding |
| Applied Materials In | UNSCREENED | 0.83% | no in-house ratios for this holding |
| GEV GE Vernova Inc | COMPLIANT | 0.81% | AAOIFI1.1% Usmani3.5% Dow Jones Islamic1.7% S&P Shariah2.0% MSCI Islamic3.5% MSCI Islamic M-Series2.0% FTSE Shariah3.5% |
| CSCO Cisco Systems Inc | COMPLIANT | 0.75% | AAOIFI5.7% Usmani18.9% Dow Jones Islamic8.4% S&P Shariah9.5% MSCI Islamic18.9% MSCI Islamic M-Series9.5% FTSE Shariah17.6% |
| Philip Morris Intern | UNSCREENED | 0.62% | no in-house ratios for this holding |
| TSLA Tesla Inc | COMPLIANT | 0.51% | AAOIFI1.1% Usmani10.8% Dow Jones Islamic1.3% S&P Shariah1.5% MSCI Islamic10.6% MSCI Islamic M-Series1.5% FTSE Shariah6.1% |
| VRT VERTIV HOLDINGS | COMPLIANT | 0.40% | AAOIFI3.2% Usmani19.0% Dow Jones Islamic4.5% S&P Shariah5.7% MSCI Islamic19.0% MSCI Islamic M-Series5.7% FTSE Shariah18.5% |
| Space Exploration Te | UNSCREENED | 0.18% | no in-house ratios for this holding |
The published standards disagree about this fund by 18 points of portfolio weight — 55.2% of it passes AAOIFI, 37.6% 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 55.2% ratios fail on 13.4% 32.2% not rated under AAOIFI
ratios pass on 42.0% ratios fail on 23.1% 35.7% not rated under Usmani
ratios pass on 52.1% ratios fail on 16.4% 32.2% not rated under Dow Jones Islamic
ratios pass on 50.6% ratios fail on 17.9% 32.2% not rated under S&P Shariah
ratios pass on 37.6% ratios fail on 23.5% 39.7% not rated under MSCI Islamic
ratios pass on 50.6% ratios fail on 17.9% 32.2% not rated under MSCI Islamic M-Series
ratios pass on 43.8% ratios fail on 23.1% 33.9% not rated under FTSE Shariah
32 of 47 listed holdings carry our own per-methodology verdicts (72% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 31 (70% 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.
WarCap Unconstrained Equity ETF (WCAP) 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 WCAP — 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) | 48.00 | NEUTRAL |
| Stochastic %K (14) | 49.05 | NEUTRAL |
| CCI (20) | -35.32 | NEUTRAL |
| Williams %R (14) | -50.95 | NEUTRAL |
| MACD (12,26,9) | -0.00 | SELL |
| ROC (10) | -0.09 | SELL |
| Momentum (10) | -0.01 | SELL |
| EMA (10) | 9.19 | SELL |
| SMA (10) | 9.15 | BUY |
| EMA (20) | 9.23 | SELL |
| SMA (20) | 9.25 | SELL |
| EMA (30) | 9.24 | SELL |
| SMA (30) | 9.29 | SELL |
| EMA (50) | 9.26 | SELL |
| SMA (50) | 9.27 | SELL |
| EMA (100) | 9.28 | SELL |
| SMA (100) | 9.27 | SELL |
| EMA (200) | 9.30 | SELL |
| SMA (200) | 9.18 | BUY |
About WarCap Unconstrained Equity ETF
As an actively managed ETF, the fund will not seek to replicate the performance of an index. Under normal circumstances, the fund will invest at least 80% of the fund’s net assets (plus borrowings for investment purposes) in equities. These securities may be of any market capitalization.
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 |
| ⏱ 15-Min | BEARISH | 34 |
| ⏲ 5-Min | BULLISH | 103 |
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.