IEF
iShares 7-10 Year Treasury Bond ETF
Is IEF Halal?
US Treasury bond ETF — riba (interest-based).
What You Should Know
BlackRock's February 28, 2026 statements report $48.850 billion of interest-bearing investments and $2.246 billion of unaffiliated interest income for IEF. Conventional Treasury coupons are contractual riba, so the quantitative and qualitative screens both fail.
⚠️ Concerns
- •Interest (riba)
- •Government debt instruments
- •Interest-bearing cash and securities-lending arrangements
Current quantitative Sharia screen
Based on Annual Financial Statements figures for the period ended 2026-02-28; calculated 2026-07-14.
0 / 51,103.604
48,850.021 / 51,103.604
2,252.935 / 51,103.604
2,245.63 / 2,280.538
- Financial
- Fails
- Overall
- Fails
Interest-bearing securities/assets are 95.59% and disclosed interest income is 98.47% of investment income, both incompatible with the examined screen.
- Financial
- Fails
- Overall
- Fails
Liquidity and interest-bearing investments are far above the examined 33.33% total-assets limit; the core activity is conventional debt.
- Financial
- Fails
- Overall
- Fails
Interest-bearing investments are above the examined Malaysia financial limits and the fund's core activity is conventional lending.
- Financial
- Not calculated
- Overall
- Fails
Market-cap methods are not applicable to a bond fund; the total-assets screens already fail on core conventional debt exposure.
Business-activity disclosure
IEF's annual statements identify conventional U.S. Treasury obligations and interest income as the fund's core assets and earnings source.
Limitation: None material for the core activity conclusion; individual scholars may differ on narrow incidental cash or derivatives treatment, not on conventional bond riba.
Purification
The filing discloses substantial interest income from the fund's core holdings; purification does not convert a conventional bond ETF into a permissible investment.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from IEF's February 28, 2026 annual financial statements.
- The statement reports $48,849.945461 million of Treasury and affiliated interest-bearing investments, $0.075614 million of cash and $2,252.859064 million of receivables against $51,103.604192 million of total assets.
- Investment income totals $2,280.538273 million, including $2,245.629941 million of unaffiliated interest income; this is a disclosed prohibited-income numerator for the conventional bond fund.
- The fund's principal activity is owning conventional interest-bearing Treasury securities, so the qualitative and quantitative conclusions converge on non-permissibility.
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.
Similar ETFs
Want to screen more assets?
Use our interactive Halal Checker to screen any stock, ETF, or crypto instantly.
Go to Halal Checker →