VWO
Vanguard FTSE Emerging Markets ETF
Is VWO Halal?
EM ETF — similar to EEM with heavy bank exposure.
What You Should Know
VWO is not Sharia-screened. Vanguard's latest holdings data included TSMC, Tencent and Alibaba, alongside financial-sector exposure that requires issuer-level review.
⚠️ Concerns
- •Underlying financial institutions require screening
- •Mixed emerging-market activities
- •No Sharia screening
Current quantitative Sharia screen
Based on Issuer product page and holdings report figures for the period ended 2026-06-30; calculated 2026-07-14.
0 / 163,300
0 / 163,300
0 / 163,300
- Financial
- Incomplete
- Overall
- Incomplete
Reported fund-level proxy ratios are below the examined asset limits, but a comparable prohibited-income numerator is unavailable.
- Financial
- Pass
- Overall
- Incomplete
The available fund-level proxy ratios are below the examined MSCI asset limits; the underlying portfolio has no universal prohibited-income classification.
- Financial
- Pass
- Overall
- Incomplete
The available fund-level proxy ratios are below the examined Malaysia limits; look-through activity remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series and fund-level prohibited-income convention are not stored.
Business-activity disclosure
VWO is a broad emerging-markets pass-through ETF, not a Sharia-screened vehicle. Its current portfolio includes financial-sector and mixed-activity issuers across emerging markets.
Limitation: The issuer discloses holdings and fund size but no universal prohibited-revenue allocation across the underlying issuers.
Purification
VWO passes through distributions from underlying issuers; no scholar-approved purification percentage is disclosed.
Inputs, assumptions and primary sources
- Vanguard reported approximately USD 163.3 billion in total net assets as of 30 June 2026.
- Vanguard's holdings page showed TSMC 14.64%, Tencent 2.74%, Alibaba 2.26%, MediaTek 1.62% and Delta Electronics 1.20% as of 31 May 2026; these are look-through observations, not a fund-level Sharia classification.
- The issuer page does not provide a school-neutral prohibited-revenue allocation or fund-level debt, cash and receivable lines; zeroes mean not separately reported, not that every underlying issuer has zero exposure.
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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