Procure Space ETF (UFO) - Questionable
Procure Space ETF (UFO) 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
- UFO is an ETF. Individual stock screening does not apply to ETFs — review the fund's underlying holdings for Shariah compliance.
Financial Ratios
About Procure Space ETF
The fund invests, under normal circumstances, at least 80% of its net assets in companies of the underlying index that receive at least 50% of their revenues or profits from space-related businesses. The underlying index is designed to serve as an equity benchmark for a globally traded portfolio of companies that are engaged in space-related business, such as those utilizing satellite technology. The fund is non-diversified.
Frequently Asked Questions
Is Procure Space ETF (UFO) stock halal to invest in?
According to AAOIFI Shariah screening standards, Procure Space ETF (UFO) is currently classified as Questionable. This is based on both business activity and financial ratio screening.
Does Procure Space ETF have any interest income?
Interest income data for Procure Space ETF is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if UFO stock is Shariah-compliant?
UFO 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 Procure Space ETF stock reviewed for Shariah compliance?
Procure Space 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.