JDST
Quality Rating
JDST, the Direxion Daily Junior Gold Miners Index Bear 2X Shares, is a leveraged inverse ETF providing 2x inverse exposure to junior gold miners. This structure involves derivatives, swaps, and short-selling, which are generally non-compliant with Shariah principles due to riba, gharar, and maysir. Financial ratios are indeterminable due to the ETF's non-traditional reporting. The company operates in its industry and sector, complicating direct benchmarking. Overall, JDST fails Shariah screening across major authorities and indices.
Purification Required
Minimal purification needed for dividend income
Index Inclusion
Not included in S&P Dow Jones Shariah Indices, MSCI Islamic Indices, FTSE Shariah Indices, or Dow Jones Islamic Market (DJIM).
Key Compliance Considerations
- Leveraged inverse ETF structure involves prohibited derivatives and short-selling
- Insufficient data for financial ratio screening, but inherent speculation raises red flags
- Exposure to environmental and social risks in underlying gold mining activities
- No inclusion in any major Shariah-compliant indices
Debt Ratio
0.0%
Liquidity Ratio
0.0%
Interest Income Ratio
0.0%
Purification
0.00%