HALAL TRADING ROOM

Sharia-screened signals
XS

XSW

$193.45
Sharia status
NOT COMPLIANT
Screened by look-through to its filed holdings — 82% of portfolio weight covered
Fund look-through

State Street(R) SPDR(R) S&P(R) Software & Services ETF ETF · SPDR SERIES TRUST

136 holdings · as of 2026-06-30 (2.4 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 110% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.

NON-COMPLIANT 21.47% of portfolio weight is in non-compliant holdings, over the 5% threshold.

136 holdings, 120 matched (82% of weight). Portfolio as of 2026-06-30, filed 2026-08-28. Source: SEC Form N-PORT.

3.49% of this portfolio’s income is non-permissible — weighted across holdings, computed over 80% of portfolio weight (116 of 136 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.

60.7% compliant 2.2% questionable 19.5% non-compliant 17.8% unscreened

All holdings (136)
HoldingStatusWeightEvery methodology, and the debt ratio behind it
State Street Global Advisors UNSCREENED 9.95% no in-house ratios for this holding
PRCH Porch Group Inc COMPLIANT 1.17% AAOIFI21.3% Usmani49.5% Dow Jones Islamic35.2% S&P Shariah48.3% MSCI Islamic49.5% MSCI Islamic M-Series48.3% FTSE Shariah49.5%
AIP Arteris Inc COMPLIANT 1.06% AAOIFI0.5% Usmani2.3% Dow Jones Islamic0.8% S&P Shariah1.0% MSCI Islamic2.3% MSCI Islamic M-Series1.0% FTSE Shariah0.0%
TENB Tenable Holdings Inc COMPLIANT 1.01% AAOIFI1.8% Usmani4.2% Dow Jones Islamic1.8% S&P Shariah1.6% MSCI Islamic4.2% MSCI Islamic M-Series1.6% FTSE Shariah0.0%
RBLX ROBLOX Corp COMPLIANT 0.96% AAOIFI5.7% Usmani18.8% Dow Jones Islamic3.5% S&P Shariah4.2% MSCI Islamic18.8% MSCI Islamic M-Series4.2% FTSE Shariah10.4%
PANW Palo Alto Networks Inc COMPLIANT 0.95% AAOIFI0.3% Usmani1.6% Dow Jones Islamic0.5% S&P Shariah0.6% MSCI Islamic1.6% MSCI Islamic M-Series0.6% FTSE Shariah0.0%
PAR Technology Corp UNSCREENED 0.94% no in-house ratios for this holding
NTSK Netskope Inc COMPLIANT 0.94% AAOIFI12.9% Usmani42.8% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic42.8% MSCI Islamic M-Seriespass FTSE Shariah40.8%
VRNS Varonis Systems Inc COMPLIANT 0.93% AAOIFI11.5% Usmani31.9% Dow Jones Islamic10.8% S&P Shariah10.9% MSCI Islamic31.9% MSCI Islamic M-Series10.9% FTSE Shariah27.3%
APPS Digital Turbine Inc COMPLIANT 0.92% AAOIFI27.8% Usmani42.8% Dow Jones Islamic65.5% S&P Shariah72.0% MSCI Islamic42.8% MSCI Islamic M-Series72.0% FTSE Shariah41.8%
MITK Mitek Systems Inc COMPLIANT 0.92% AAOIFI6.2% Usmani14.0% Dow Jones Islamic10.0% S&P Shariah9.8% MSCI Islamic14.0% MSCI Islamic M-Series9.8% FTSE Shariah13.4%
QLYS Qualys Inc COMPLIANT 0.91% AAOIFI0.9% Usmani5.0% Dow Jones Islamic1.1% S&P Shariah1.0% MSCI Islamic5.0% MSCI Islamic M-Series1.0% FTSE Shariah0.0%
LIF Life360 Inc COMPLIANT 0.90% AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariahpass MSCI Islamic0.0% MSCI Islamic M-Seriespass FTSE Shariah0.0%
Yext Inc UNSCREENED 0.90% no in-house ratios for this holding
ALKT Alkami Technology Inc COMPLIANT 0.88% AAOIFIpass Usmani— Dow Jones Islamicpass S&P Shariahpass MSCI Islamic— MSCI Islamic M-Seriespass FTSE Shariah—
TTWO Take-Two Interactive Software Inc QUESTIONABLE 0.87% AAOIFI7.4% Usmani32.6% Dow Jones Islamic7.5% S&P Shariah8.5% MSCI Islamic32.6% MSCI Islamic M-Series8.5% FTSE Shariah27.9%
CRWD Crowdstrike Holdings Inc COMPLIANT 0.86% AAOIFI0.4% Usmani6.8% Dow Jones Islamic0.7% S&P Shariah0.8% MSCI Islamic6.8% MSCI Islamic M-Series0.8% FTSE Shariah6.2%
ATEN A10 Networks Inc COMPLIANT 0.86% AAOIFI12.7% Usmani33.4% Dow Jones Islamic15.5% S&P Shariah17.5% MSCI Islamic33.4% MSCI Islamic M-Series17.5% FTSE Shariah32.4%
VYX NCR Voyix Corp NON_COMPLIANT 0.86% AAOIFI116.7% Usmani34.1% Dow Jones Islamic87.4% S&P Shariah73.7% MSCI Islamic34.1% MSCI Islamic M-Series73.7% FTSE Shariah28.6%
Cipher Digital Inc UNSCREENED 0.85% no in-house ratios for this holding
ACIW ACI Worldwide Inc COMPLIANT 0.84% AAOIFI16.0% Usmani27.4% Dow Jones Islamic16.8% S&P Shariah18.8% MSCI Islamic27.4% MSCI Islamic M-Series18.8% FTSE Shariah26.6%
S SentinelOne Inc COMPLIANT 0.84% AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
AGYS Agilysys Inc COMPLIANT 0.84% AAOIFI0.6% Usmani3.9% Dow Jones Islamic0.6% S&P Shariah0.7% MSCI Islamic3.9% MSCI Islamic M-Series0.7% FTSE Shariah0.0%
DDOG Datadog Inc NON_COMPLIANT 0.84% AAOIFI1.7% Usmani16.9% Dow Jones Islamic2.4% S&P Shariah2.6% MSCI Islamic16.9% MSCI Islamic M-Series2.6% FTSE Shariah13.1%
Daily Journal Corp UNSCREENED 0.83% no in-house ratios for this holding
CRNC Cerence Inc NON_COMPLIANT 0.83% AAOIFI50.1% Usmani30.1% Dow Jones Islamic46.6% S&P Shariah42.6% MSCI Islamic30.1% MSCI Islamic M-Series42.6% FTSE Shariah27.9%
RIOT Riot Platforms Inc COMPLIANT 0.83% AAOIFI10.7% Usmani26.9% Dow Jones Islamic16.7% S&P Shariah20.0% MSCI Islamic26.9% MSCI Islamic M-Series20.0% FTSE Shariah25.8%
ZS Zscaler Inc COMPLIANT 0.83% AAOIFI7.7% Usmani23.6% Dow Jones Islamic5.6% S&P Shariah5.9% MSCI Islamic23.6% MSCI Islamic M-Series5.9% FTSE Shariah21.6%
CVLT Commvault Systems Inc COMPLIANT 0.83% AAOIFI16.2% Usmani48.5% Dow Jones Islamic14.5% S&P Shariah16.3% MSCI Islamic48.5% MSCI Islamic M-Series16.3% FTSE Shariah46.7%
AUR Aurora Innovation Inc COMPLIANT 0.82% AAOIFI0.6% Usmani3.8% Dow Jones Islamic2.2% S&P Shariah2.6% MSCI Islamic3.8% MSCI Islamic M-Series2.6% FTSE Shariah0.0%
RBRK Rubrik Inc COMPLIANT 0.82% AAOIFI5.9% Usmani40.4% Dow Jones Islamic8.1% S&P Shariahpass MSCI Islamic40.4% MSCI Islamic M-Seriespass FTSE Shariah39.8%
RPD Rapid7 Inc NON_COMPLIANT 0.82% AAOIFI9.1% Usmani3.9% Dow Jones Islamic4.9% S&P Shariah3.6% MSCI Islamic3.9% MSCI Islamic M-Series3.6% FTSE Shariah0.0%
BILL BILL Holdings Inc NON_COMPLIANT 0.82% AAOIFI45.5% Usmani18.6% Dow Jones Islamic36.1% S&P Shariah31.5% MSCI Islamic18.6% MSCI Islamic M-Series31.5% FTSE Shariah18.0%
IDCC InterDigital Inc COMPLIANT 0.82% AAOIFI4.6% Usmani18.3% Dow Jones Islamic6.0% S&P Shariah7.5% MSCI Islamic18.3% MSCI Islamic M-Series7.5% FTSE Shariah17.8%
AMPL Amplitude Inc COMPLIANT 0.81% AAOIFI0.4% Usmani1.6% Dow Jones Islamic0.4% S&P Shariah0.4% MSCI Islamic1.6% MSCI Islamic M-Series0.4% FTSE Shariah0.0%
FTNT Fortinet Inc COMPLIANT 0.81% AAOIFI0.4% Usmani4.6% Dow Jones Islamic0.7% S&P Shariah0.8% MSCI Islamic4.6% MSCI Islamic M-Series0.8% FTSE Shariah4.6%
MARA MARA Holdings Inc NON_COMPLIANT 0.80% AAOIFI59.2% Usmani56.7% Dow Jones Islamic48.0% S&P Shariah50.6% MSCI Islamic56.6% MSCI Islamic M-Series50.6% FTSE Shariah55.6%
CCC CCC Intelligent Solutions Holdings Inc NON_COMPLIANT 0.80% AAOIFI31.9% Usmani37.6% Dow Jones Islamic24.7% S&P Shariah22.3% MSCI Islamic37.6% MSCI Islamic M-Series22.3% FTSE Shariah36.0%
PD PagerDuty Inc NON_COMPLIANT 0.80% AAOIFI40.7% Usmani45.5% Dow Jones Islamic34.3% S&P Shariah28.6% MSCI Islamic45.5% MSCI Islamic M-Series28.6% FTSE Shariah43.9%
HUT Hut 8 Corp NON_COMPLIANT 0.80% AAOIFI3.8% Usmani4.4% Dow Jones Islamic9.3% S&P Shariah12.7% MSCI Islamic4.4% MSCI Islamic M-Series12.7% FTSE Shariah4.1%
QTWO Q2 Holdings Inc COMPLIANT 0.80% AAOIFI1.1% Usmani4.2% Dow Jones Islamic0.9% S&P Shariah1.0% MSCI Islamic4.2% MSCI Islamic M-Series1.0% FTSE Shariah0.0%
DT Dynatrace Inc COMPLIANT 0.79% AAOIFI1.1% Usmani3.9% Dow Jones Islamic1.1% S&P Shariah1.1% MSCI Islamic3.9% MSCI Islamic M-Series1.1% FTSE Shariah0.0%
FRSH Freshworks Inc COMPLIANT 0.79% AAOIFI1.0% Usmani2.3% Dow Jones Islamic1.0% S&P Shariah0.9% MSCI Islamic2.3% MSCI Islamic M-Series0.9% FTSE Shariah0.0%
WEAV Weave Communications Inc COMPLIANT 0.78% AAOIFIpass Usmani— Dow Jones Islamicpass S&P Shariahpass MSCI Islamic— MSCI Islamic M-Seriespass FTSE Shariah—
YOU Clear Secure Inc COMPLIANT 0.78% AAOIFI1.5% Usmani7.0% Dow Jones Islamic2.3% S&P Shariah2.8% MSCI Islamic7.0% MSCI Islamic M-Series2.8% FTSE Shariah0.0%
U Unity Software Inc COMPLIANT 0.78% AAOIFI0.5% Usmani1.3% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.3% MSCI Islamic M-Series0.7% FTSE Shariah0.0%
GTLB Gitlab Inc NON_COMPLIANT 0.78% AAOIFI0.0% Usmani0.0% Dow Jones Islamic0.0% S&P Shariah0.0% MSCI Islamic0.0% MSCI Islamic M-Series0.0% FTSE Shariah0.0%
Sprout Social Inc UNSCREENED 0.78% no in-house ratios for this holding
ADEA Adeia Inc COMPLIANT 0.78% AAOIFI13.5% Usmani39.0% Dow Jones Islamic20.6% S&P Shariah23.9% MSCI Islamic39.0% MSCI Islamic M-Series23.9% FTSE Shariah38.1%
IIIV I3 Verticals Inc NON_COMPLIANT 0.78% AAOIFI28.5% Usmani19.0% Dow Jones Islamic17.4% S&P Shariah18.2% MSCI Islamic19.0% MSCI Islamic M-Series18.2% FTSE Shariah18.2%
WULF Terawulf Inc NON_COMPLIANT 0.78% AAOIFI35.4% Usmani38.9% Dow Jones Islamic65.9% S&P Shariah91.8% MSCI Islamic38.9% MSCI Islamic M-Series91.8% FTSE Shariah38.6%
NCNO nCino Inc COMPLIANT 0.78% AAOIFI12.3% Usmani21.5% Dow Jones Islamic9.7% S&P Shariah9.1% MSCI Islamic18.3% MSCI Islamic M-Series9.1% FTSE Shariah17.5%
BTBT Bit Digital Inc NON_COMPLIANT 0.77% AAOIFI20.2% Usmani9.7% Dow Jones Islamic20.7% S&P Shariah25.1% MSCI Islamic9.7% MSCI Islamic M-Series25.1% FTSE Shariah8.4%
INTA Intapp Inc COMPLIANT 0.77% AAOIFI0.7% Usmani3.0% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic3.0% MSCI Islamic M-Series0.7% FTSE Shariah0.0%
GWRE Guidewire Software Inc COMPLIANT 0.77% AAOIFI3.4% Usmani16.8% Dow Jones Islamic2.7% S&P Shariah3.1% MSCI Islamic16.8% MSCI Islamic M-Series3.1% FTSE Shariah15.7%
Progress Software Corp UNSCREENED 0.77% no in-house ratios for this holding
RDVT Red Violet Inc COMPLIANT 0.77% AAOIFI0.2% Usmani2.2% Dow Jones Islamic0.4% S&P Shariah0.5% MSCI Islamic2.2% MSCI Islamic M-Series0.5% FTSE Shariah0.0%
Teradata Corp UNSCREENED 0.77% no in-house ratios for this holding
APP AppLovin Corp COMPLIANT 0.76% AAOIFI3.3% Usmani42.5% Dow Jones Islamic2.5% S&P Shariah3.6% MSCI Islamic42.5% MSCI Islamic M-Series3.6% FTSE Shariah42.5%
AVPT AvePoint Inc COMPLIANT 0.76% AAOIFI0.9% Usmani3.5% Dow Jones Islamic0.9% S&P Shariah1.1% MSCI Islamic3.5% MSCI Islamic M-Series1.1% FTSE Shariah0.0%
BLKB Blackbaud Inc NON_COMPLIANT 0.76% AAOIFI53.8% Usmani44.3% Dow Jones Islamic39.6% S&P Shariah35.0% MSCI Islamic44.3% MSCI Islamic M-Series35.0% FTSE Shariah44.3%
KVYO Klaviyo Inc COMPLIANT 0.76% AAOIFI2.2% Usmani8.2% Dow Jones Islamic1.3% S&P Shariah1.3% MSCI Islamic8.2% MSCI Islamic M-Series1.3% FTSE Shariah0.0%
IBM International Business Machines Corp COMPLIANT 0.75% AAOIFI29.5% Usmani42.9% Dow Jones Islamic28.2% S&P Shariah32.2% MSCI Islamic42.9% MSCI Islamic M-Series32.2% FTSE Shariah40.8%
QBTS D-Wave Quantum Inc NON_COMPLIANT 0.75% AAOIFI0.8% Usmani4.1% Dow Jones Islamic0.9% S&P Shariah1.4% MSCI Islamic4.1% MSCI Islamic M-Series1.4% FTSE Shariah3.0%
Blend Labs Inc UNSCREENED 0.75% no in-house ratios for this holding
SPSC SPS Commerce Inc COMPLIANT 0.75% AAOIFI0.2% Usmani0.6% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic0.6% MSCI Islamic M-Series0.1% FTSE Shariah0.0%
NTNX Nutanix Inc COMPLIANT 0.75% AAOIFI8.3% Usmani44.8% Dow Jones Islamic9.3% S&P Shariah10.1% MSCI Islamic44.7% MSCI Islamic M-Series10.1% FTSE Shariah39.4%
BlackLine Inc UNSCREENED 0.74% no in-house ratios for this holding
OSPN OneSpan Inc COMPLIANT 0.74% AAOIFI0.3% Usmani0.5% Dow Jones Islamic0.4% S&P Shariah0.4% MSCI Islamic0.5% MSCI Islamic M-Series0.4% FTSE Shariah0.0%
ROP Roper Technologies Inc NON_COMPLIANT 0.74% AAOIFI28.1% Usmani32.2% Dow Jones Islamic22.5% S&P Shariah21.7% MSCI Islamic32.2% MSCI Islamic M-Series21.7% FTSE Shariah32.2%
ALRM Alarm.com Holdings Inc COMPLIANT 0.74% AAOIFI2.8% Usmani4.6% Dow Jones Islamic2.9% S&P Shariah2.7% MSCI Islamic4.6% MSCI Islamic M-Series2.7% FTSE Shariah0.0%
TRMB Trimble Inc COMPLIANT 0.74% AAOIFI10.6% Usmani17.1% Dow Jones Islamic8.8% S&P Shariah9.4% MSCI Islamic17.1% MSCI Islamic M-Series9.4% FTSE Shariah17.1%
PATH UiPath Inc COMPLIANT 0.74% AAOIFI1.1% Usmani2.7% Dow Jones Islamic1.2% S&P Shariah1.0% MSCI Islamic2.7% MSCI Islamic M-Series1.0% FTSE Shariah0.0%
GEN Gen Digital Inc NON_COMPLIANT 0.74% AAOIFI44.3% Usmani52.6% Dow Jones Islamic51.3% S&P Shariah54.5% MSCI Islamic52.6% MSCI Islamic M-Series54.5% FTSE Shariah52.1%
Electronic Arts Inc UNSCREENED 0.74% no in-house ratios for this holding
RNG RingCentral Inc COMPLIANT 0.74% AAOIFI19.9% Usmani84.3% Dow Jones Islamic41.2% S&P Shariah42.1% MSCI Islamic84.3% MSCI Islamic M-Series42.1% FTSE Shariah81.1%
KD Kyndryl Holdings Inc NON_COMPLIANT 0.73% AAOIFI228.4% Usmani56.0% Dow Jones Islamic108.6% S&P Shariah116.1% MSCI Islamic54.4% MSCI Islamic M-Series116.1% FTSE Shariah47.2%
DXC DXC Technology Co NON_COMPLIANT 0.73% AAOIFI224.0% Usmani33.5% Dow Jones Islamic156.3% S&P Shariah135.8% MSCI Islamic32.3% MSCI Islamic M-Series135.8% FTSE Shariah27.1%
BOX Box Inc COMPLIANT 0.73% AAOIFI11.2% Usmani37.4% Dow Jones Islamic12.1% S&P Shariah12.6% MSCI Islamic37.4% MSCI Islamic M-Series12.6% FTSE Shariah32.2%
BRZE Braze Inc COMPLIANT 0.73% AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass
RAMP LiveRamp Holdings Inc COMPLIANT 0.73% AAOIFI1.4% Usmani2.6% Dow Jones Islamic1.7% S&P Shariah1.7% MSCI Islamic2.6% MSCI Islamic M-Series1.7% FTSE Shariah0.0%
Five9 Inc UNSCREENED 0.73% no in-house ratios for this holding
Core Scientific Inc UNSCREENED 0.73% no in-house ratios for this holding
SAIL SailPoint Inc COMPLIANT 0.73% AAOIFI0.2% Usmani0.2% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic0.2% MSCI Islamic M-Seriespass FTSE Shariah0.0%
DLB Dolby Laboratories Inc COMPLIANT 0.73% AAOIFI0.8% Usmani1.5% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic1.5% MSCI Islamic M-Series0.7% FTSE Shariah0.0%
IOT Samsara Inc COMPLIANT 0.73% AAOIFI0.3% Usmani2.5% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic2.5% MSCI Islamic M-Series0.3% FTSE Shariah0.0%
DBX Dropbox Inc COMPLIANT 0.73% AAOIFI5.3% Usmani23.9% Dow Jones Islamic6.2% S&P Shariah6.3% MSCI Islamic13.8% MSCI Islamic M-Series6.3% FTSE Shariah0.0%
TTAN ServiceTitan Inc COMPLIANT 0.72% AAOIFI2.8% Usmani8.5% Dow Jones Islamic1.7% S&P Shariahpass MSCI Islamic8.5% MSCI Islamic M-Seriespass FTSE Shariah5.8%
ZETA Zeta Global Holdings Corp COMPLIANT 0.72% AAOIFI4.1% Usmani15.0% Dow Jones Islamic4.5% S&P Shariah5.1% MSCI Islamic15.0% MSCI Islamic M-Series5.1% FTSE Shariah13.5%
DOCU Docusign Inc COMPLIANT 0.72% AAOIFI1.5% Usmani4.6% Dow Jones Islamic1.3% S&P Shariah1.4% MSCI Islamic4.6% MSCI Islamic M-Series1.4% FTSE Shariah0.0%
WK Workiva Inc NON_COMPLIANT 0.72% AAOIFI0.3% Usmani1.8% Dow Jones Islamic0.2% S&P Shariah0.2% MSCI Islamic0.8% MSCI Islamic M-Series0.2% FTSE Shariah0.0%
FICO Fair Isaac Corp COMPLIANT 0.72% AAOIFI27.8% Usmani274.8% Dow Jones Islamic14.4% S&P Shariah15.5% MSCI Islamic274.8% MSCI Islamic M-Series15.5% FTSE Shariah274.0%
APPN Appian Corp COMPLIANT 0.71% AAOIFI10.7% Usmani50.4% Dow Jones Islamic13.1% S&P Shariah12.4% MSCI Islamic50.4% MSCI Islamic M-Series12.4% FTSE Shariah40.3%
CLSK Cleanspark Inc NON_COMPLIANT 0.71% AAOIFI54.6% Usmani65.9% Dow Jones Islamic56.9% S&P Shariah61.3% MSCI Islamic65.9% MSCI Islamic M-Series61.3% FTSE Shariah65.9%
CDNS Cadence Design Systems Inc COMPLIANT 0.71% AAOIFI0.3% Usmani1.9% Dow Jones Islamic0.3% S&P Shariah0.3% MSCI Islamic1.9% MSCI Islamic M-Series0.3% FTSE Shariah0.0%
SNPS Synopsys Inc COMPLIANT 0.71% AAOIFI14.4% Usmani22.7% Dow Jones Islamic13.2% S&P Shariah13.2% MSCI Islamic22.7% MSCI Islamic M-Series13.2% FTSE Shariah21.0%
TYL Tyler Technologies Inc COMPLIANT 0.71% AAOIFI9.8% Usmani25.0% Dow Jones Islamic7.0% S&P Shariah7.2% MSCI Islamic25.0% MSCI Islamic M-Series7.2% FTSE Shariah24.2%
CXM Sprinklr Inc COMPLIANT 0.71% AAOIFI3.0% Usmani3.9% Dow Jones Islamic2.4% S&P Shariah2.0% MSCI Islamic3.9% MSCI Islamic M-Series2.0% FTSE Shariah0.0%
MANH Manhattan Associates Inc COMPLIANT 0.70% AAOIFI0.4% Usmani7.7% Dow Jones Islamic0.5% S&P Shariah0.4% MSCI Islamic7.7% MSCI Islamic M-Series0.4% FTSE Shariah0.0%
SOUN SoundHound AI Inc NON_COMPLIANT 0.70% AAOIFI0.2% Usmani0.8% Dow Jones Islamic2.9% S&P Shariah3.7% MSCI Islamic0.8% MSCI Islamic M-Series3.7% FTSE Shariah0.0%
APPF Appfolio Inc COMPLIANT 0.70% AAOIFI0.5% Usmani5.5% Dow Jones Islamic0.5% S&P Shariah0.5% MSCI Islamic5.5% MSCI Islamic M-Series0.5% FTSE Shariah0.0%
HUBS HubSpot Inc COMPLIANT 0.69% AAOIFI5.0% Usmani17.3% Dow Jones Islamic2.6% S&P Shariah2.4% MSCI Islamic17.3% MSCI Islamic M-Series2.4% FTSE Shariah10.5%
MSFT Microsoft Corp QUESTIONABLE 0.69% AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3%
ESTC Elastic NV COMPLIANT 0.69% AAOIFI6.2% Usmani19.8% Dow Jones Islamic7.2% S&P Shariah6.7% MSCI Islamic19.8% MSCI Islamic M-Series6.7% FTSE Shariah19.0%
NOW ServiceNow Inc COMPLIANT 0.68% AAOIFI6.1% Usmani26.7% Dow Jones Islamic5.0% S&P Shariah5.3% MSCI Islamic26.7% MSCI Islamic M-Series5.3% FTSE Shariah23.7%
PCOR Procore Technologies Inc COMPLIANT 0.68% AAOIFI0.8% Usmani3.0% Dow Jones Islamic0.7% S&P Shariah0.7% MSCI Islamic3.0% MSCI Islamic M-Series0.7% FTSE Shariah0.0%
GDYN Grid Dynamics Holdings Inc NON_COMPLIANT 0.68% AAOIFI2.6% Usmani2.8% Dow Jones Islamic1.8% S&P Shariah1.8% MSCI Islamic2.8% MSCI Islamic M-Series1.8% FTSE Shariah0.0%
ASAN Asana Inc COMPLIANT 0.68% AAOIFI12.8% Usmani31.7% Dow Jones Islamic8.7% S&P Shariah7.9% MSCI Islamic31.7% MSCI Islamic M-Series7.9% FTSE Shariah4.5%
BSY Bentley Systems Inc COMPLIANT 0.67% AAOIFI12.4% Usmani35.4% Dow Jones Islamic9.6% S&P Shariah9.2% MSCI Islamic35.4% MSCI Islamic M-Series9.2% FTSE Shariah34.0%
ZM Zoom Communications Inc COMPLIANT 0.67% AAOIFI0.2% Usmani0.4% Dow Jones Islamic0.2% S&P Shariah0.3% MSCI Islamic0.4% MSCI Islamic M-Series0.3% FTSE Shariah0.0%
INTU Intuit Inc COMPLIANT 0.67% AAOIFI9.8% Usmani22.9% Dow Jones Islamic5.4% S&P Shariah5.3% MSCI Islamic22.9% MSCI Islamic M-Series5.3% FTSE Shariah20.8%
CRM Salesforce Inc COMPLIANT 0.67% AAOIFI19.6% Usmani38.1% Dow Jones Islamic18.0% S&P Shariah17.7% MSCI Islamic38.1% MSCI Islamic M-Series17.7% FTSE Shariah35.8%
BBAI BigBear.ai Holdings Inc NON_COMPLIANT 0.67% AAOIFI1.6% Usmani2.7% Dow Jones Islamic1.4% S&P Shariah1.9% MSCI Islamic2.7% MSCI Islamic M-Series1.9% FTSE Shariah2.0%
PEGA Pegasystems Inc COMPLIANT 0.67% AAOIFI1.2% Usmani5.2% Dow Jones Islamic0.9% S&P Shariah1.1% MSCI Islamic5.2% MSCI Islamic M-Series1.1% FTSE Shariah0.0%
VERX Vertex Inc COMPLIANT 0.66% AAOIFI18.3% Usmani28.9% Dow Jones Islamic46.2% S&P Shariah45.9% MSCI Islamic28.9% MSCI Islamic M-Series45.9% FTSE Shariah28.0%
PLTR Palantir Technologies Inc QUESTIONABLE 0.66% AAOIFI0.1% Usmani1.8% Dow Jones Islamic0.1% S&P Shariah0.1% MSCI Islamic1.8% MSCI Islamic M-Series0.1% FTSE Shariah0.0%
WDAY Workday Inc COMPLIANT 0.65% AAOIFI8.4% Usmani23.8% Dow Jones Islamic8.1% S&P Shariah7.7% MSCI Islamic23.8% MSCI Islamic M-Series7.7% FTSE Shariah18.8%
EFOR Everforth Inc NON_COMPLIANT 0.64% AAOIFI112.1% Usmani37.2% Dow Jones Islamic63.4% S&P Shariah49.8% MSCI Islamic37.2% MSCI Islamic M-Series49.8% FTSE Shariah35.7%
ADSK Autodesk Inc COMPLIANT 0.64% AAOIFI8.4% Usmani28.7% Dow Jones Islamic6.4% S&P Shariah6.7% MSCI Islamic28.7% MSCI Islamic M-Series6.7% FTSE Shariah26.9%
ADBE Adobe Inc COMPLIANT 0.64% AAOIFI5.9% Usmani20.3% Dow Jones Islamic4.0% S&P Shariah3.3% MSCI Islamic20.3% MSCI Islamic M-Series3.3% FTSE Shariah18.9%
EPAM EPAM Systems Inc COMPLIANT 0.62% AAOIFI2.6% Usmani3.3% Dow Jones Islamic1.6% S&P Shariah1.4% MSCI Islamic3.3% MSCI Islamic M-Series1.4% FTSE Shariah0.5%
BMNR BitMine Immersion Technologies Inc COMPLIANT 0.62% AAOIFI0.0% Usmani0.0% Dow Jones Islamic— S&P Shariah— MSCI Islamic0.0% MSCI Islamic M-Series— FTSE Shariah0.0%
TEAM Atlassian Corp COMPLIANT 0.62% AAOIFI2.6% Usmani20.2% Dow Jones Islamic2.9% S&P Shariah2.7% MSCI Islamic20.2% MSCI Islamic M-Series2.7% FTSE Shariah16.2%
AI C3.ai Inc NON_COMPLIANT 0.62% AAOIFI3.6% Usmani6.7% Dow Jones Islamic2.0% S&P Shariah1.8% MSCI Islamic6.7% MSCI Islamic M-Series1.8% FTSE Shariah0.0%
PTC PTC Inc COMPLIANT 0.61% AAOIFI11.1% Usmani24.7% Dow Jones Islamic8.0% S&P Shariah8.0% MSCI Islamic24.7% MSCI Islamic M-Series8.0% FTSE Shariah21.9%
IT Gartner Inc NON_COMPLIANT 0.61% AAOIFI28.3% Usmani46.3% Dow Jones Islamic13.9% S&P Shariah12.2% MSCI Islamic46.3% MSCI Islamic M-Series12.2% FTSE Shariah41.4%
NN NextNav Inc COMPLIANT 0.60% AAOIFI10.9% Usmani72.1% Dow Jones Islamic14.2% S&P Shariah18.2% MSCI Islamic72.1% MSCI Islamic M-Series18.2% FTSE Shariah68.7%
CCSI Consensus Cloud Solutions Inc NON_COMPLIANT 0.59% AAOIFI87.3% Usmani81.2% Dow Jones Islamic113.8% S&P Shariah123.1% MSCI Islamic81.2% MSCI Islamic M-Series123.1% FTSE Shariah79.7%
CRCL Circle Internet Group Inc NON_COMPLIANT 0.58% AAOIFI0.1% Usmani0.0% Dow Jones Islamicfail S&P Shariahfail MSCI Islamic0.0% MSCI Islamic M-Seriesfail FTSE Shariah0.0%
MSTR Strategy Inc COMPLIANT 0.55% AAOIFI12.5% Usmani12.9% Dow Jones Islamic7.5% S&P Shariah9.4% MSCI Islamic12.9% MSCI Islamic M-Series9.4% FTSE Shariah12.8%
CTSH Cognizant Technology Solutions Corp COMPLIANT 0.55% AAOIFI4.0% Usmani5.4% Dow Jones Islamic3.2% S&P Shariah3.2% MSCI Islamic5.3% MSCI Islamic M-Series3.2% FTSE Shariah2.8%
ACN Accenture PLC COMPLIANT 0.53% AAOIFI7.7% Usmani12.2% Dow Jones Islamic5.0% S&P Shariah4.7% MSCI Islamic12.2% MSCI Islamic M-Series4.7% FTSE Shariah7.5%
ORCL Oracle Corp COMPLIANT 0.53% AAOIFI34.1% Usmani64.0% Dow Jones Islamic30.7% S&P Shariah35.2% MSCI Islamic61.0% MSCI Islamic M-Series35.2% FTSE Shariah49.5%
State Street Global Advisors UNSCREENED 0.06% no in-house ratios for this holding
State Street Global Advisors UNSCREENED 0.00% no in-house ratios for this holding
ESC PIVOTAL SOFTWARE I UNSCREENED 0.00% no in-house ratios for this holding

The published standards disagree about this fund by 41 points of portfolio weight — 63.6% of it passes AAOIFI, 22.1% 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 63.6% ratios fail on 19.7% 26.7% not rated under AAOIFI

120 of 136 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, 117 (88% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.

Non-compliant holdingWeight
VYX NCR Voyix Corp 0.86%
DDOG Datadog Inc 0.84%
CRNC Cerence Inc 0.83%
RPD Rapid7 Inc 0.82%
BILL BILL Holdings Inc 0.82%
MARA MARA Holdings Inc 0.80%
CCC CCC Intelligent Solutions Holdings Inc 0.80%
PD PagerDuty Inc 0.80%
HUT Hut 8 Corp 0.80%
GTLB Gitlab Inc 0.78%

Methodology breakdown computing — it will appear here on its own.

🕌Open research, not a fatwa — verify with your own scholar.
Trade setup SEPARATE FROM SHARIAH
No trade setup shown — a stock that isn't cleanly Sharia-compliant never gets a bullish verdict here.
Why this signal?
Structure1 of 5 timeframes bullish · 91.3% aligned
VWAPPrice below VWAP ($199.72)
VolumeRelative volume 4.7× the 20-day average
Momentum10-day rate of change -3.2%

XSW (XSW) 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.

Market & analysts
Momentum (10d)
-3.2%
rate of change
SMC grade
B · 74
91.3% aligned
NON-COMPLIANT
Sharia compliance
B · 74
SMC grade — 91.3% timeframe alignment
-3.2%
Rate of change (10d)

🕌 In-house Compliance Research

Computing the full ratio and business-activity breakdown for XSW — this runs off the critical path so the page paints first. It will appear here on its own.

210.31191.72173.14154.56135.972025-09-112026-03-122026-09-10

Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset

Support & Resistance
S3
189.99
S2
192.03
S1
193.16
PIVOT
195.20
R1
196.33
R2
198.37
R3
199.50

Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.

Price Forecast

7-day expected range
196.416 – 219.124
±5.46% from 207.77, made 2026-09-04 · resolves 2026-09-11
STRONG BUY
from 19 indicators
Not enough resolved predictions yet — 0 of 10 needed before we publish an accuracy figure. 21771 forecast(s) are currently open and will be scored automatically when their horizon expires.

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 above. 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

NEUTRAL
19 indicators
OscillatorsNEUTRAL
3 buy · 1 neutral · 3 sell
Moving averagesNEUTRAL
6 buy · 0 neutral · 6 sell
Every indicator, and what it reads
IndicatorValueSignal
RSI (14)45.30NEUTRAL
Stochastic %K (14)4.79BUY
CCI (20)-149.71BUY
Williams %R (14)-95.21BUY
MACD (12,26,9)-2.10SELL
ROC (10)-3.21SELL
Momentum (10)-6.42SELL
EMA (10)199.91SELL
SMA (10)203.12SELL
EMA (20)199.15SELL
SMA (20)201.59SELL
EMA (30)196.47SELL
SMA (30)198.25SELL
EMA (50)190.80BUY
SMA (50)189.65BUY
EMA (100)181.97BUY
SMA (100)176.18BUY
EMA (200)180.23BUY
SMA (200)171.45BUY

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.

About XSW

In seeking to track the performance of the S&P Software & Services 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 software and services segment of the S&P Total Market Index ("S&P TMI").

Background via Yahoo Finance — informational, not part of the verdict.

Grade verdict

Good setup, solid confluence

SMC — Top Down

TimeframeBiasBars
📅 Daily BEARISH 43
⏰ 4H BEARISH 19
🕐 1H BEARISH 79
⏱ 15-Min BULLISH 130
⏲ 5-Min BEARISH 234

Momentum & Volume

3.15
MACD (no fresh cross)

Peer Movement

Peer movement computing — it will appear here on its own.

Insider Activity (90d)

NO DATA   0 buys · 0 sells

COT Positioning — E-MINI S&P 500 - CHICAGO MERCANTILE EXCHANGE

NEUTRAL   report date 2026-09-01 · Asset managers net 934180 (-19048)

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.

Tell us what's working, what's confusing, or what you want to see next — read by a real person, not a form that goes nowhere.