TLT
iShares 20+ Year Treasury Bond ETF
Is TLT Halal?
Long-duration US Treasury ETF — riba.
What You Should Know
BlackRock's February 28, 2026 statements report $45.356 billion of interest-bearing investments and $2.177 billion of unaffiliated interest income for TLT. Long-dated conventional Treasury coupons are riba, so the quantitative and qualitative screens both fail.
⚠️ Concerns
- •Riba from interest income
- •Government debt
- •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 / 45,853.072
45,356.185 / 45,853.072
496.088 / 45,853.072
2,176.529 / 2,189.436
- Financial
- Fails
- Overall
- Fails
Interest-bearing securities/assets are 98.91% and disclosed interest income is 99.41% 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
TLT's annual statements identify long-dated 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 TLT's February 28, 2026 annual financial statements.
- The statement reports $45,356.185055 million of Treasury and affiliated interest-bearing investments, $0.000171 million of cash and $496.088227 million of receivables against $45,853.072428 million of total assets.
- Investment income totals $2,189.436293 million, including $2,176.529349 million of unaffiliated interest income; this is a disclosed prohibited-income numerator for the conventional bond fund.
- The fund's principal activity is owning long-dated 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.
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