State Street Technology Select (XLK) - Questionable
State Street Technology Select (XLK) 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
- XLK 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 Technology Select
In seeking to track the performance of the index, the fund employs a replication strategy, which means that the fund typically invests in substantially all of the securities represented in the index in approximately the same proportions as the index. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The fund is non-diversified.
Frequently Asked Questions
Is State Street Technology Select (XLK) stock halal to invest in?
According to AAOIFI Shariah screening standards, State Street Technology Select (XLK) is currently classified as Questionable. This is based on both business activity and financial ratio screening.
Does State Street Technology Select have any interest income?
Interest income data for State Street Technology Select is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if XLK stock is Shariah-compliant?
XLK 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 Technology Select stock reviewed for Shariah compliance?
State Street Technology Select '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.