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.
State Street(R) SPDR(R) S&P(R) Aerospace & Defense ETF ETF · SPDR SERIES TRUST
51 holdings · as of 2026-06-30 (2.6 months ago)
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 103% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 34.89% of portfolio weight is in non-compliant holdings, over the 5% threshold.
51 holdings, 39 matched (82% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.
0.92% of this portfolio’s income is non-permissible — weighted across holdings, computed over 79% of portfolio weight (36 of 51 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.
48.2% compliant 0.0% questionable 33.9% non-compliant 17.9% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| VSEC VSE Corp | COMPLIANT | 3.40% | AAOIFI19.0% Usmani23.3% Dow Jones Islamic28.8% S&P Shariah37.2% MSCI Islamic23.3% MSCI Islamic M-Series37.2% FTSE Shariah21.5% |
| AXON Axon Enterprise Inc | COMPLIANT | 3.22% | AAOIFI4.4% Usmani24.5% Dow Jones Islamic4.0% S&P Shariah4.9% MSCI Islamic24.5% MSCI Islamic M-Series4.9% FTSE Shariah23.1% |
| SARO StandardAero Inc | COMPLIANT | 3.11% | AAOIFI31.7% Usmani37.7% Dow Jones Islamic27.6% S&P Shariahpass MSCI Islamic37.4% MSCI Islamic M-Seriespass FTSE Shariah33.9% |
| FTAI FTAI Aviation Ltd | COMPLIANT | 3.08% | AAOIFI17.1% Usmani76.9% Dow Jones Islamic19.5% S&P Shariah24.8% MSCI Islamic76.9% MSCI Islamic M-Series24.8% FTSE Shariah76.9% |
| CRS Carpenter Technology Corp | COMPLIANT | 3.04% | AAOIFI3.2% Usmani19.0% Dow Jones Islamic4.9% S&P Shariah6.4% MSCI Islamic19.0% MSCI Islamic M-Series6.4% FTSE Shariah18.0% |
| GE General Electric Co | NON_COMPLIANT | 3.02% | AAOIFI6.1% Usmani16.1% Dow Jones Islamic7.4% S&P Shariah8.6% MSCI Islamic16.1% MSCI Islamic M-Series8.6% FTSE Shariah15.3% |
| WWD Woodward Inc | COMPLIANT | 2.98% | AAOIFI3.6% Usmani14.9% Dow Jones Islamic4.9% S&P Shariah5.7% MSCI Islamic14.9% MSCI Islamic M-Series5.7% FTSE Shariah14.4% |
| State Street Global Advisors | UNSCREENED | 2.97% | no in-house ratios for this holding |
| HEI HEICO Corp | COMPLIANT | 2.86% | AAOIFI5.8% Usmani25.6% Dow Jones Islamic31.9% S&P Shariah36.0% MSCI Islamic25.6% MSCI Islamic M-Series36.0% FTSE Shariah25.6% |
| MOG-A Moog Inc | COMPLIANT | 2.86% | AAOIFI8.3% Usmani24.0% Dow Jones Islamic12.5% S&P Shariah14.4% MSCI Islamic20.4% MSCI Islamic M-Series14.4% FTSE Shariah19.0% |
| TDG TransDigm Group Inc | NON_COMPLIANT | 2.83% | AAOIFI51.2% Usmani123.0% Dow Jones Islamic45.8% S&P Shariah49.7% MSCI Islamic123.0% MSCI Islamic M-Series49.7% FTSE Shariah123.0% |
| HXL Hexcel Corp | COMPLIANT | 2.81% | AAOIFI13.9% Usmani35.1% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic35.1% MSCI Islamic M-Series0.0% FTSE Shariah35.1% |
| KRMN Karman Holdings Inc | COMPLIANT | 2.80% | AAOIFI0.4% Usmani8.6% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic1.5% MSCI Islamic M-Seriespass FTSE Shariah0.4% |
| HWM Howmet Aerospace Inc | NON_COMPLIANT | 2.77% | AAOIFI5.1% Usmani35.2% Dow Jones Islamic6.2% S&P Shariah7.9% MSCI Islamic35.2% MSCI Islamic M-Series7.9% FTSE Shariah34.0% |
| ATI ATI Inc | COMPLIANT | 2.77% | AAOIFI— Usmani— Dow Jones Islamic— S&P Shariah— MSCI Islamic— MSCI Islamic M-Series— FTSE Shariah— |
| RTX RTX Corp | NON_COMPLIANT | 2.75% | AAOIFI12.5% Usmani19.3% Dow Jones Islamic15.9% S&P Shariah18.5% MSCI Islamic19.3% MSCI Islamic M-Series18.5% FTSE Shariah18.4% |
| BWX Technologies Inc | UNSCREENED | 2.74% | no in-house ratios for this holding |
| CW Curtiss-Wright Corp | COMPLIANT | 2.71% | AAOIFI5.4% Usmani21.1% Dow Jones Islamic6.0% S&P Shariah7.2% MSCI Islamic21.1% MSCI Islamic M-Series7.2% FTSE Shariah17.5% |
| GD General Dynamics Corp | NON_COMPLIANT | 2.67% | AAOIFI10.3% Usmani17.4% Dow Jones Islamic11.7% S&P Shariah12.4% MSCI Islamic16.8% MSCI Islamic M-Series12.4% FTSE Shariah13.7% |
| BA Boeing Co/The | NON_COMPLIANT | 2.67% | AAOIFI30.1% Usmani30.2% Dow Jones Islamic33.6% S&P Shariah36.0% MSCI Islamic30.2% MSCI Islamic M-Series36.0% FTSE Shariah30.2% |
| AIR AAR Corp | COMPLIANT | 2.64% | AAOIFI19.2% Usmani30.2% Dow Jones Islamic30.8% S&P Shariah34.2% MSCI Islamic30.2% MSCI Islamic M-Series34.2% FTSE Shariah26.6% |
| TXT Textron Inc | NON_COMPLIANT | 2.59% | AAOIFI3.0% Usmani2.2% Dow Jones Islamic2.7% S&P Shariah2.6% MSCI Islamic2.2% MSCI Islamic M-Series2.6% FTSE Shariah0.0% |
| LMT Lockheed Martin Corp | NON_COMPLIANT | 2.50% | AAOIFI16.6% Usmani32.9% Dow Jones Islamic17.6% S&P Shariah18.2% MSCI Islamic32.9% MSCI Islamic M-Series18.2% FTSE Shariah32.9% |
| HII Huntington Ingalls Industries Inc | NON_COMPLIANT | 2.49% | AAOIFI25.6% Usmani23.1% Dow Jones Islamic27.0% S&P Shariah28.2% MSCI Islamic23.1% MSCI Islamic M-Series28.2% FTSE Shariah21.3% |
| RKLB Rocket Lab Corp | COMPLIANT | 2.49% | AAOIFI0.3% Usmani2.9% Dow Jones Islamic0.4% S&P Shariah0.6% MSCI Islamic2.5% MSCI Islamic M-Series0.6% FTSE Shariah0.0% |
| LHX L3Harris Technologies Inc | NON_COMPLIANT | 2.47% | AAOIFI20.0% Usmani22.2% Dow Jones Islamic19.0% S&P Shariah20.8% MSCI Islamic22.2% MSCI Islamic M-Series20.8% FTSE Shariah22.2% |
| AeroVironment Inc | UNSCREENED | 2.46% | no in-house ratios for this holding |
| NOC Northrop Grumman Corp | NON_COMPLIANT | 2.42% | AAOIFI23.3% Usmani33.6% Dow Jones Islamic21.9% S&P Shariah23.0% MSCI Islamic33.6% MSCI Islamic M-Series23.0% FTSE Shariah29.9% |
| Archer Aviation Inc | UNSCREENED | 2.41% | no in-house ratios for this holding |
| KTOS Kratos Defense & Security Solutions Inc | COMPLIANT | 2.34% | AAOIFI0.6% Usmani4.7% Dow Jones Islamic0.6% S&P Shariah0.8% MSCI Islamic1.3% MSCI Islamic M-Series0.8% FTSE Shariah0.0% |
| Mercury Systems Inc | UNSCREENED | 2.25% | no in-house ratios for this holding |
| LUNR Intuitive Machines Inc | NON_COMPLIANT | 2.08% | AAOIFI12.7% Usmani22.8% Dow Jones Islamic34.8% S&P Shariah45.6% MSCI Islamic22.8% MSCI Islamic M-Series45.6% FTSE Shariah17.8% |
| LOAR Loar Holdings Inc | COMPLIANT | 2.03% | AAOIFI15.1% Usmani41.5% Dow Jones Islamic14.0% S&P Shariahpass MSCI Islamic41.3% MSCI Islamic M-Seriespass FTSE Shariah40.8% |
| Leonardo DRS Inc | UNSCREENED | 1.98% | no in-house ratios for this holding |
| ATRO Astronics Corp | COMPLIANT | 1.66% | AAOIFI10.8% Usmani46.4% Dow Jones Islamic23.0% S&P Shariah29.0% MSCI Islamic46.4% MSCI Islamic M-Series29.0% FTSE Shariah40.8% |
| RDW Redwire Corp | COMPLIANT | 1.60% | AAOIFI3.2% Usmani4.5% Dow Jones Islamic6.0% S&P Shariah8.2% MSCI Islamic4.4% MSCI Islamic M-Series8.2% FTSE Shariah2.5% |
| Ducommun Inc | UNSCREENED | 1.42% | no in-house ratios for this holding |
| Red Cat Holdings Inc | UNSCREENED | 1.33% | no in-house ratios for this holding |
| VVX V2X Inc | NON_COMPLIANT | 1.05% | AAOIFI39.2% Usmani33.3% Dow Jones Islamic56.3% S&P Shariah61.0% MSCI Islamic33.3% MSCI Islamic M-Series61.0% FTSE Shariah33.3% |
| FLY Firefly Aerospace Inc | NON_COMPLIANT | 0.95% | AAOIFI0.9% Usmani2.1% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic1.9% MSCI Islamic M-Seriesfail FTSE Shariah0.5% |
| CDRE Cadre Holdings Inc | NON_COMPLIANT | 0.54% | AAOIFI31.5% Usmani43.6% Dow Jones Islamic28.3% S&P Shariah29.6% MSCI Islamic43.6% MSCI Islamic M-Series29.6% FTSE Shariah40.8% |
| Satellogic Inc | UNSCREENED | 0.48% | no in-house ratios for this holding |
| NPK National Presto Industries Inc | COMPLIANT | 0.46% | AAOIFI0.9% Usmani1.8% Dow Jones Islamic1.2% S&P Shariah1.3% MSCI Islamic1.8% MSCI Islamic M-Series1.3% FTSE Shariah0.0% |
| BETA Beta Technologies Inc | NON_COMPLIANT | 0.43% | AAOIFI3.6% Usmani10.7% Dow Jones Islamic4.2% S&P Shariah4.2% MSCI Islamic10.7% MSCI Islamic M-Series4.2% FTSE Shariah9.5% |
| YSS York Space Systems Inc | NON_COMPLIANT | 0.40% | AAOIFI8.8% Usmani8.6% Dow Jones Islamic— S&P Shariah— MSCI Islamic8.6% MSCI Islamic M-Series— FTSE Shariah7.1% |
| PKE Park Aerospace Corp | COMPLIANT | 0.39% | AAOIFI0.0% Usmani0.2% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.2% MSCI Islamic M-Series0.1% FTSE Shariah0.0% |
| ATRO Astronics Corp | COMPLIANT | 0.39% | AAOIFI10.8% Usmani46.4% Dow Jones Islamic23.0% S&P Shariah29.0% MSCI Islamic46.4% MSCI Islamic M-Series29.0% FTSE Shariah40.8% |
| Voyager Technologies Inc | UNSCREENED | 0.35% | no in-house ratios for this holding |
| SPCE Virgin Galactic Holdings Inc | NON_COMPLIANT | 0.27% | AAOIFI46.2% Usmani26.8% Dow Jones Islamic105.8% S&P Shariah68.0% MSCI Islamic26.8% MSCI Islamic M-Series68.0% FTSE Shariah26.8% |
| State Street Global Advisors | UNSCREENED | 0.07% | no in-house ratios for this holding |
| State Street Global Advisors | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 20 points of portfolio weight — 61.4% of it passes AAOIFI, 41.8% 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 61.4% ratios fail on 14.7% 26.8% not rated under AAOIFI
ratios pass on 44.1% ratios fail on 29.6% 29.3% not rated under Usmani
ratios pass on 60.2% ratios fail on 12.3% 30.5% not rated under Dow Jones Islamic
ratios pass on 54.7% ratios fail on 14.9% 33.4% not rated under S&P Shariah
ratios pass on 41.8% ratios fail on 28.6% 32.6% not rated under MSCI Islamic
ratios pass on 54.7% ratios fail on 14.9% 33.4% not rated under MSCI Islamic M-Series
ratios pass on 44.3% ratios fail on 26.1% 32.6% not rated under FTSE Shariah
38 of 51 listed holdings carry our own per-methodology verdicts (85% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 37 (82% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| GE General Electric Co | 3.02% |
| TDG TransDigm Group Inc | 2.83% |
| HWM Howmet Aerospace Inc | 2.77% |
| RTX RTX Corp | 2.75% |
| GD General Dynamics Corp | 2.67% |
| BA Boeing Co/The | 2.67% |
| TXT Textron Inc | 2.59% |
| LMT Lockheed Martin Corp | 2.50% |
| HII Huntington Ingalls Industries Inc | 2.49% |
| LHX L3Harris Technologies Inc | 2.47% |
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.
XAR (XAR) 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 XAR — 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.
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.
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.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 27.70 | BUY |
| Stochastic %K (14) | 15.39 | BUY |
| CCI (20) | -100.73 | BUY |
| Williams %R (14) | -84.61 | BUY |
| MACD (12,26,9) | -0.84 | SELL |
| ROC (10) | -4.98 | SELL |
| Momentum (10) | -12.64 | SELL |
| EMA (10) | 245.76 | SELL |
| SMA (10) | 245.28 | SELL |
| EMA (20) | 252.84 | SELL |
| SMA (20) | 253.16 | SELL |
| EMA (30) | 257.71 | SELL |
| SMA (30) | 265.13 | SELL |
| EMA (50) | 262.92 | SELL |
| SMA (50) | 266.39 | SELL |
| EMA (100) | 266.10 | SELL |
| SMA (100) | 269.61 | SELL |
| EMA (200) | 261.78 | SELL |
| SMA (200) | 267.25 | SELL |
In seeking to track the performance of the S&P Aerospace & Defense Select Industry Index (the "index"), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the aerospace and defense segment of the S&P Total Market Index ("S&P TMI").
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.
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
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 2026-09-08 · Asset managers net 912361 (-21819)
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.