IAU
iShares Gold Trust ETF
Is IAU Halal?
Physical gold trust — quantitative holdings are 100% bullion, subject to possession and structure review.
What You Should Know
IAU's March 2026 10-Q reports 100.02% investment in gold bullion against net assets (rounding and liabilities explain the excess) and no cash balance. Gold exposure is generally permissible, while trust ownership, delivery and trading mechanics remain scholar-dependent.
Current quantitative Sharia screen
Based on Form 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
0 / 70,709.025
0 / 70,709.025
86.729 / 70,709.025
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 0.00% and receivables plus cash/assets is 0.12%; no operating revenue or income numerator exists for this physical-gold trust.
- Financial
- Pass
- Overall
- Incomplete
The reported debt, liquidity and receivables-plus-cash ratios are below the examined MSCI limits, but fund structure and possession remain incomplete qualitative questions.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined Malaysia limits; the physical-gold trust structure is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Incomplete
Market-cap denominators are not designed for a physical-gold trust and no licensed series is stored.
Business-activity disclosure
IAU is a grantor trust holding physical gold bullion. Gold is generally treated as a ribawi asset, but scholars differ on exchange-traded trust ownership, qabd, basket settlement and secondary-market mechanics.
Limitation: The trust reports bullion custody and liabilities but not a school-neutral legal conclusion on possession and delivery for each investor.
Purification
IAU reports no conventional-interest income; any permissibility conclusion depends on ownership, possession and settlement structure rather than a purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from IAU's March 31, 2026 Form 10-Q.
- Total assets are USD 70,709.025 million, including USD 70,622.296 million of gold bullion and USD 86.729 million receivable for capital shares sold; the trust reports no cash balance or interest-bearing securities.
- The trust has no operating revenue line and reports a net investment loss from expenses; totalRevenue is therefore recorded as zero rather than inventing a denominator.
- The schedule reports gold bullion as 100.02% of net assets because the portfolio is shown before liabilities; the underlying asset is physical bullion.
- ETF look-through ratios are not an official FTSE, MSCI or Malaysia classification.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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