AMALY — SHARIAH COMPLIANCE REPORT ================================== Symbol: HYG Report Date: 2026-04-01 Full Report: https://amaly.io/stock/HYG EXECUTIVE SUMMARY ------------------ Compliance Status: NON_COMPLIANT Quality Rating: B Description: The iShares iBoxx $ Investment Grade Corporate Bond ETF (HYG) is a passive exchange-traded fund that primarily invests in U.S. dollar-denominated investment-grade corporate bonds, generating income through interest payments. This structure inherently involves riba (interest), which is prohibited under Shariah principles, leading to non-compliance across major screening methodologies. Financial ratios are challenging to apply directly due to the ETF's nature, but business activity screening confirms disqualification. No inclusion in Shariah indices reinforces the non-compliant status. Investors seeking fixed-income exposure should consider Shariah-compliant alternatives like sukuk-based funds. Primary Compliance Concerns: - Core business activity involves riba through investment in interest-bearing corporate bonds (100% revenue exposure) - Non-compliant income ratio effectively 100%, exceeding 5% threshold across all standards - Cash and interest-bearing securities ratio approximately 100% of market cap, failing liquidity thresholds - Exclusion from all major Shariah indices due to prohibited financial sector classification Purification Requirement: 0.00% Index Inclusion: Not included in any of the four major Shariah-compliant indices: S&P Dow Jones, MSCI Islamic, FTSE Shariah, or Dow Jones Islamic Market. KEY FINANCIAL METRICS ---------------------- Debt Ratio: 0.0% Liquidity Ratio: 1.0% Interest Income Ratio: 1.0% Purification Required: 0.00% INDEX INCLUSION STATUS ----------------------- S&P Shariah: EXCLUDED MSCI Islamic: EXCLUDED DJIM: EXCLUDED FTSE Shariah: EXCLUDED Total: 0 of 4 Last Verified: 2026-01-01 REPORTING PERIOD ----------------- Latest Annual Report: FY 2025 Latest Quarterly Data: Q4 2025 Trend Period: FY 2020 to FY 2025 Data Retrieved: 2026-02-24T12:00:00Z --- Full interactive report: https://amaly.io/stock/HYG Provided by Amaly (https://amaly.io) — Shariah Compliant Stock Screener Disclaimer: This data is for informational purposes only and does not constitute financial or religious advice.