ProFunds Short Oil & Gas ProFun (SNPSX) - Not Halal (Non-Compliant)
ProFunds Short Oil & Gas ProFun (SNPSX) is classified as Not Halal (Non-Compliant) 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
- Fail
- Reason
- SNPSX appears to be a leveraged, inverse, or short ETF. These funds use derivatives and/or short-selling strategies which are not permissible under Shariah.
Financial Ratios
About ProFunds Short Oil & Gas ProFun
The fund invests in financial instruments that the fund Advisors believes, in combination, should produce daily returns consistent with the fund's investment objective. The index is constructed and maintained by S&P Dow Jones Indices LLC. The index represents the energy sector of the S&P 500 Index. The fund is non-diversified.
Frequently Asked Questions
Is ProFunds Short Oil & Gas ProFun (SNPSX) stock halal to invest in?
According to AAOIFI Shariah screening standards, ProFunds Short Oil & Gas ProFun (SNPSX) is currently classified as Not Halal (Non-Compliant). This is based on both business activity and financial ratio screening.
Does ProFunds Short Oil & Gas ProFun have any interest income?
Interest income data for ProFunds Short Oil & Gas ProFun is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if SNPSX stock is Shariah-compliant?
SNPSX 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 ProFunds Short Oil & Gas ProFun stock reviewed for Shariah compliance?
ProFunds Short Oil & Gas ProFun'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.