AMALY — SHARIAH COMPLIANCE REPORT
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Symbol: MSTX
Report Date: 2026-04-14
Full Report: https://amaly.io/stock/MSTX

EXECUTIVE SUMMARY
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Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: This report evaluates the Shariah compliance of MSTX, a leveraged ETF tracking MicroStrategy, across financial ratios, business activities, index inclusions, and multi-perspective analyses. While financial ratios show strong performance with low debt and liquidity exposure, the leveraged structure introduces riba and gharar concerns, leading to non-compliance under major standards. No inclusion in Shariah indices confirms the overall non-compliant status. ESG factors reveal medium risk primarily from indirect crypto exposure, with no major controversies. Investors should consider alternatives in compliant equity ETFs.

Primary Compliance Concerns:
- Leveraged ETF structure involves potential riba and gharar
- Speculative exposure to Bitcoin via underlying asset
- Insufficient data for income ratios due to ETF format
- 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: 2.8%
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: 2025-09-30

REPORTING PERIOD
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Latest Annual Report: FY 2025
Latest Quarterly Data: Q1 2026
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-02-14T00:00:00Z

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