Global X DAX Germany ETF (DAX) - Questionable
Global X DAX Germany ETF (DAX) is classified as Questionable according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- ETF
- Industry
- Exchange-Traded Fund
- Result
- Doubtful
- Reason
- DAX is an ETF. Individual stock screening does not apply to ETFs — review the fund's underlying holdings for Shariah compliance.
Financial Ratios
About Global X DAX Germany ETF
The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The index tracks the segment of the largest and most actively traded companies - known as blue chips - on the German equities market. The fund is non-diversified.
Frequently Asked Questions
Is Global X DAX Germany ETF (DAX) stock halal to invest in?
According to AAOIFI Shariah screening standards, Global X DAX Germany ETF (DAX) is currently classified as Questionable. This is based on both business activity and financial ratio screening.
Does Global X DAX Germany ETF have any interest income?
Interest income data for Global X DAX Germany ETF is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if DAX stock is Shariah-compliant?
DAX is screened using AAOIFI Standard No. 21, which involves two checks: business activity screening (ensuring the company's core business is permissible in Islam) and financial ratio screening (checking debt, interest income, and cash ratios against defined thresholds). AAOIFI is the most widely recognized standard for Islamic finance.
How often is Global X DAX Germany ETF stock reviewed for Shariah compliance?
Global X DAX Germany ETF's compliance status is reviewed whenever new financial data becomes available, typically after quarterly or annual earnings reports. Market cap changes can also affect financial ratio screening results. Mizaan refreshes screening data periodically to reflect the latest filings.