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Wed, Apr 1 10:57 PM
Non-Compliant

XLE

Quality Rating

B
Minimal compliance quality

The Energy Select Sector SPDR Fund (XLE) is a conventional ETF tracking U.S. energy companies, primarily in oil and gas. Due to its fund structure, direct application of equity-based Shariah financial screens is not feasible, leading to reliance on index inclusion for overall status. XLE is not included in major Shariah indices, resulting in a non-compliant classification. The underlying energy sector is generally permissible under Shariah principles, but investors should consider holdings-level screening and ESG risks associated with fossil fuels. Purification is not required based on available data, but ongoing monitoring of portfolio composition is recommended.

Purification Required
0.00%
minimal

Minimal purification needed for dividend income

Index Inclusion

Not included in any of the four major Shariah indices (S&P Dow Jones, MSCI, FTSE, DJIM)

Key Compliance Considerations

Debt Ratio

0.0%

Liquidity Ratio

0.0%

Interest Income Ratio

0.0%

Purification

0.00%