State Street Energy Select Sect (XLE) - Questionable
State Street Energy Select Sect (XLE) 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
- XLE is an ETF. Individual stock screening does not apply to ETFs — review the fund's underlying holdings for Shariah compliance.
Financial Ratios
About State Street Energy Select Sect
In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes companies that have been identified as Energy companies by the GICS®, including securities of companies from the following industries: oil, gas and consumable fuels; and energy equipment and services. It is non-diversified.
Frequently Asked Questions
Is State Street Energy Select Sect (XLE) stock halal to invest in?
According to AAOIFI Shariah screening standards, State Street Energy Select Sect (XLE) is currently classified as Questionable. This is based on both business activity and financial ratio screening.
Does State Street Energy Select Sect have any interest income?
Interest income data for State Street Energy Select Sect is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if XLE stock is Shariah-compliant?
XLE 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 State Street Energy Select Sect stock reviewed for Shariah compliance?
State Street Energy Select Sect'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.