XLRE
Real Estate Select Sector SPDR Fund
Is XLRE Halal?
REIT ETF — conventional debt structure fails Sharia.
What You Should Know
XLRE holds REITs and real-estate companies. State Street's 13 July 2026 portfolio included Welltower, Prologis, Equinix and American Tower; REIT leverage and income require separate Sharia review.
⚠️ Concerns
- •REIT conventional leverage
- •Interest income from REIT structure
- •Not Sharia-screened
Current quantitative Sharia screen
Based on Daily issuer holdings and assets-under-management page figures for the period ended 2026-07-13; calculated 2026-07-14.
0 / 8,447.37
0 / 8,447.37
0 / 8,447.37
- 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 REIT portfolio has no universal prohibited-income classification.
- Financial
- Pass
- Overall
- Incomplete
The available fund-level proxy ratios are below the examined Malaysia limits; REIT-level leverage and income remain incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series and fund-level prohibited-income convention are not stored.
Business-activity disclosure
XLRE is a pass-through real-estate ETF that holds REITs and real-estate companies. The existing qualitative verdict flags conventional leverage and interest concerns; no universal look-through Sharia classification is supplied by the issuer.
Limitation: The issuer discloses holdings and industry categories but no universal prohibited-revenue allocation or scholar-approved debt treatment across each REIT.
Purification
XLRE passes through distributions from underlying REITs; no scholar-approved purification percentage is disclosed.
Inputs, assumptions and primary sources
- State Street reported USD 8,447.37 million in assets under management as of 13 July 2026.
- The fund is an S&P 500 real-estate sector ETF and its holdings were 100% real-estate management/development or REIT categories; top holdings included Welltower 11.20%, Prologis 8.96%, Equinix 6.93% and American Tower 5.34%.
- 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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