AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: IWM
Report Date: 2026-04-01
Full Report: https://amaly.io/stock/IWM

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: The iShares Russell 2000 ETF (IWM) provides exposure to small-cap U.S. equities but fails Shariah compliance due to unscreened holdings in non-permissible sectors and lack of purification mechanisms. As a conventional ETF, it does not meet standards from major authorities or indices. Financial ratios are inapplicable in traditional form, but portfolio analysis reveals significant riba and haram exposure. Investors seeking Shariah-compliant small-cap exposure should consider screened alternatives. Overall, IWM is non-compliant, requiring avoidance or heavy purification if held.

Primary Compliance Concerns:
- Unscreened holdings include non-permissible activities (e.g., conventional finance, alcohol, gambling)
- No Shariah board oversight or purification for ETF distributions
- Indirect exposure to riba through debt-heavy small-cap companies
- Exclusion from all major Shariah indices

Purification Requirement: 0.00%
Index Inclusion: Not included in any major Shariah-compliant indices

KEY FINANCIAL METRICS
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Debt Ratio: 0.0%
Liquidity Ratio: 0.0%
Interest Income Ratio: 0.0%
Purification Required: 0.00%

INDEX INCLUSION STATUS
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S&P Shariah: EXCLUDED
MSCI Islamic: EXCLUDED
DJIM: EXCLUDED
FTSE Shariah: EXCLUDED
Total: 0 of 4
Last Verified: 2026-01-31

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q4 2025
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-02-20T12:00:00Z

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Full interactive report: https://amaly.io/stock/IWM
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.