Global X Space Tech ETF (ORBX) - Questionable
Global X Space Tech ETF (ORBX) 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
- ORBX 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 Space Tech ETF
The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in the securities of the underlying index, which may include common stocks, American Depositary Receipts ("ADRs"), and Global Depositary Receipts (“GDRs”). The underlying index is owned and was developed by Global X Management Company LLC (the “index provider”), the fund's investment adviser and an affiliate of the fund. It is non-diversified.
Frequently Asked Questions
Is Global X Space Tech ETF (ORBX) stock halal to invest in?
According to AAOIFI Shariah screening standards, Global X Space Tech ETF (ORBX) is currently classified as Questionable. This is based on both business activity and financial ratio screening.
Does Global X Space Tech ETF have any interest income?
Interest income data for Global X Space Tech ETF is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if ORBX stock is Shariah-compliant?
ORBX 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 Space Tech ETF stock reviewed for Shariah compliance?
Global X Space Tech 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.