First Trust Horizon Managed Volatility Small/Mid ETF

HSMV

First Trust

First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) on the Akinda fund screen (AAOIFI-derived): Not halal. Coverage 98.51%. Below: the fund under all five rulebooks, its facts and every holding with its own verdict.

Akinda fund screen

Akinda fund screen (AAOIFI-derived)Not halalCoverage: 98.51%

Halal 28.89%
Doubtful 3.80%
Not halal 65.82%
Not rated 1.49%

The bar is scaled to fit; the figures are as reported, and the buckets do not always total 100%.

Coverage is the share of the fund's weight we hold a usable verdict for. Below 95%, a fund is rated only when the weight we can see already breaches the 5% limit; otherwise it is not rated by this method.

Fund facts

Issuer: First Trust
Venue (where it trades): United States
Domicile (where it is registered): United States
Reporting currency: USD
Expense ratio: 0.80%
AUM: 5.57M USD
Holdings: 151 (149 screened)
Basket as of (provider): 3 Nov 2026
Basket fetched by Akinda: 3 Nov 2026
Verdict updated: 3 Nov 2026

Venue is where a fund trades; domicile is where it is registered. London-listed funds are domiciled in Ireland or Luxembourg, so use Venue for UK ETFs.

Five rulebooks

Rulebook	Verdict	Halal	Not halal
Akinda fund screen (AAOIFI)	Not halal	28.89%	65.82%
DJIM	Not halal	30.81%	63.01%
FTSE	Not halal	33.11%	59.81%
MSCI	Not halal	33.26%	59.67%
S&P	Not halal	33.84%	59.08%

Every bar uses the same 0–100% scale. Index rulebooks report only halal and not-halal weight; uncoloured weight is weight that rulebook does not classify. Coverage is published for the Akinda fund screen only.

The fund screen and the four index rulebooks answer different questions, so they are expected to disagree. A fund can be doubtful on our fund screen and halal under S&P; both are correct.

Holdings

1–50 of 151 holdings, largest first · basket as of 3 Nov 2026

No.	Holding	Weight	Akinda (AAOIFI)	DJIM	FTSE	MSCI	S&P
No.	Holding	Weight	Akinda (AAOIFI)	DJIM	FTSE	MSCI	S&P
1	INGRIngredion Incorporated	2.24%	Halal	Halal	Halal	Halal	Halal
2	DLBDolby Laboratories, Inc.	2.10%	Halal	Halal	Halal	Halal	Halal
3	AMAntero Midstream Corp.	1.67%	Not halal	Not halal	Not halal	Not halal	Not halal
4	PECOPhillips Edison & Company, Inc.	1.63%	Not halal	Not halal	Not halal	Not halal	Not halal
5	BCPCBalchem Corporation	1.55%	Halal	Halal	Halal	Halal	Halal
6	DTMDT Midstream, Inc.	1.41%	Not halal	Halal	Halal	Halal	Halal
7	OGEOGE Energy Corp.	1.39%	Not halal	Not halal	Not halal	Not halal	Not halal
8	EFCEllington Financial Inc.	1.38%	Not halal	Not halal	Not halal	Not halal	Not halal
9	IOSPInnospec Inc.	1.35%	Halal	Halal	Halal	Halal	Halal
10	STWDStarwood Property Trust, Inc.	1.24%	Not halal	Not halal	Not halal	Not halal	Not halal
11	GATXGATX Corporation	1.24%	Not halal	Not halal	Not halal	Not halal	Not halal
12	GGGGraco Inc.	1.24%	Halal	Halal	Halal	Halal	Halal
13	IVTInvenTrust Properties Corp.	1.24%	Not halal	Not halal	Halal	Halal	Not halal
14	SWXSouthwest Gas Holdings, Inc.	1.23%	Not halal	Not halal	Not halal	Not halal	Not halal
15	NJRNew Jersey Resources Corporation	1.22%	Not halal	Not halal	Not halal	Not halal	Not halal
16	ABMABM Industries Incorporated	1.19%	Not halal	Not halal	Halal	Halal	Not halal
17	CHCOCity Holding Company	1.16%	Not halal	Not halal	Not halal	Not halal	Not halal
18	FCNFTI Consulting, Inc.	1.15%	Halal	Halal	Halal	Halal	Halal
19	EHCEncompass Health Corporation	1.15%	Halal	Halal	Halal	Halal	Halal
20	INVAInnoviva, Inc.	1.14%	Not halal	Not halal	Not halal	Not halal	Halal
21	ATRAptarGroup, Inc.	1.14%	Halal	Halal	Halal	Halal	Halal
22	BJBJ's Wholesale Club Holdings, Inc.	1.12%	Doubtful	Not rated	Not rated	Not rated	Not rated
23	ADCAgree Realty Corporation	1.12%	Not halal	Not halal	Not halal	Not halal	Not halal
24	UVVUniversal Corporation	1.11%	Not halal	Not halal	Not halal	Not halal	Not halal
25	NNNNNN REIT Inc.	1.10%	Not halal	Not halal	Not halal	Not halal	Not halal
26	MSMMSC Industrial Direct Co., Inc. (Class A)	1.09%	Halal	Halal	Halal	Halal	Halal
27	CCKCrown Holdings, Inc.	1.09%	Not halal	Not halal	Not halal	Not halal	Not halal
28	WABCWestamerica Bancorporation	1.08%	Not halal	Not halal	Not halal	Not halal	Not halal
29	POSTPost Holdings, Inc.	1.08%	Not halal	Not halal	Not halal	Not halal	Not halal
30	AFGAmerican Financial Group, Inc.	1.08%	Not halal	Not halal	Not halal	Not halal	Not halal
31	IDAIDACORP, Inc.	1.07%	Not halal	Not halal	Not halal	Not halal	Not halal
32	MSAMSA Safety Incorporated	1.05%	Halal	Halal	Halal	Halal	Halal
33	SCIService Corporation International	1.03%	Not halal	Not halal	Halal	Halal	Not halal
34	MCRIMonarch Casino & Resort, Inc.	1.02%	Not halal	Not halal	Not halal	Not halal	Not halal
35	REYNReynolds Consumer Products Inc.	1.02%	Not halal	Not halal	Not halal	Not halal	Halal
36	CLHClean Harbors, Inc.	1.01%	Halal	Halal	Not halal	Not halal	Halal
37	WPCW.P. Carey Inc.	1.01%	Not halal	Not halal	Not halal	Not halal	Not halal
38	CHEChemed Corporation	1.00%	Halal	Halal	Halal	Halal	Halal
39	ENSGThe Ensign Group, Inc.	1.00%	Halal	Halal	Not halal	Not halal	Halal
40	WTSWatts Water Technologies, Inc.	0.97%	Halal	Halal	Halal	Halal	Halal
41	PAGPenske Automotive Group, Inc.	0.96%	Not halal	Not halal	Not halal	Not halal	Not halal
42	LOPEGrand Canyon Education, Inc.	0.96%	Halal	Halal	Halal	Halal	Halal
43	ALVAutoliv, Inc.	0.96%	Halal	Halal	Halal	Halal	Halal
44	MZTIThe Marzetti Company	0.95%	Halal	Halal	Halal	Halal	Halal
45	GNTXGentex Corporation	0.94%	Halal	Not rated	Not rated	Not rated	Not rated
46	DCIDonaldson Company, Inc.	0.93%	Halal	Not rated	Not rated	Not rated	Not rated
47	AWIArmstrong World Industries, Inc.	0.91%	Halal	Halal	Halal	Halal	Halal
48	JJSFJ & J Snack Foods Corp.	0.91%	Halal	Halal	Halal	Halal	Halal
49	WDFCWD-40 Company	0.90%	Halal	Halal	Halal	Halal	Halal
50	FELEFranklin Electric Co., Inc.	0.90%	Halal	Halal	Halal	Halal	Halal

Not rated means we hold no usable verdict for that company; it is never treated as compliant.

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