Screened 2026-06-14 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Wahed FTSE USA Shariah ETF holds its Markdown at $70.48. Consolidating, no directional conviction, held for 262 days.
As held on the ledger · 2026-06-14
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 262 days
Price at the screen
$70.48
Valuation
29.10 trailing · N/A forward price to earnings
Values screen
PASS· score 30.0
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Shariah-screened equity ETF — all holdings independently screened
Fail
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads OVERVALUED
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-06-14 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HLAL trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 32%. Our forward projection puts the odds of a 10% gain over the next month near 11%.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 32%. Our forward projection puts the odds of a 10% gain over the next month near 11%.
2026-07-18Markup$70.48+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 32%. Our forward projection puts the odds of a 10% gain over the next month near 11%.
2026-07-03Markup$70.48+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$70.48Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with ethical pass with moderate score. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$70.16
-1.6%
·
$984
-1.6%
2 months
$62.12
+11.1%
·
$1,111
+11.1%
3 months
$60.79
+13.6%
$0.08
$1,137
+13.7%
6 months
$62.55
+10.4%
$0.15
$1,106
+10.6%
1 year
$52.21
+32.2%
$0.33
$1,329
+32.9%
2 years
$48.72
+41.7%
$0.68
$1,431
+43.1%
3 years
$40.57
+70.2%
$0.95
$1,725
+72.5%
5 years
$35.48
+94.6%
$1.71
$1,994
+99.4%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever HLAL does next, these words stay.
Wahed FTSE USA Shariah ETF · HLAL · Markdown · $70.48
Recorded 2026-06-14 · before the outcome · scored mechanically
