TSDD
Quality Rating
TSDD is the GraniteShares 2x Short Tesla Daily ETF, a leveraged inverse ETF providing -2x daily exposure to Tesla Inc. stock. The product's reliance on derivatives such as swaps and futures introduces excessive uncertainty (gharar) and speculation (maysir), rendering it non-compliant with Shariah principles across business activity screening. Financial ratios are inapplicable due to the ETF structure lacking traditional balance sheets, but qualitative assessment confirms disqualification. No inclusion in major Shariah indices underscores broad non-compliance. Investors are advised to avoid such speculative instruments.
Purification Required
Minimal purification needed for dividend income
Index Inclusion
Excluded from all major Shariah indices (S&P, MSCI, FTSE, DJIM)
Key Compliance Considerations
- Speculative business model involving derivatives and leverage
- Inherent gharar and maysir in ETF structure
- Inapplicable financial ratios due to non-traditional reporting
- Absence from all major Shariah-compliant indices
Debt Ratio
0.0%
Liquidity Ratio
0.0%
Interest Income Ratio
100.0%
Purification
0.00%