Shariah Compliance Drift Tracker
Daily history of S&P 500 Shariah screening verdicts: how the compliant universe grows and shrinks, and which companies crossed an AAOIFI threshold each day.
Compliant vs excluded universe, daily
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Recent verdict changes
| Date | Ticker | Company | Sector | Change | Why |
|---|---|---|---|---|---|
| 2026-08-17 | SPG | Simon Property Group | Real Estate | Review → Excluded | Debt/mktcap 35.0% >= 33%; Interest/rev 15.3% >= 5% |
| 2026-08-17 | PPL | PPL Corporation | Utilities | Review → Excluded | Debt/mktcap 71.4% >= 33%; Interest/rev 8.9% >= 5% |
| 2026-08-17 | WDC | Western Digital | Information Technology | Review → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-17 | TSCO | Tractor Supply | Consumer Discretionary | Excluded → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-17 | TGT | Target Corporation | Consumer Staples | Review → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-17 | PHM | PulteGroup | Consumer Discretionary | Review → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-17 | CRM | Salesforce | Information Technology | Review → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-15 | MCD | McDonald's | Consumer Discretionary | Review → Excluded | Interest/rev 5.9% >= 5% |
| 2026-08-15 | HST | Host Hotels & Resorts | Real Estate | Review → Excluded | Debt/mktcap 35.5% >= 33% |
| 2026-08-15 | GIS | General Mills | Consumer Staples | Review → Excluded | Debt/mktcap 66.5% >= 33% |
| 2026-08-15 | ED | Consolidated Edison | Utilities | Review → Excluded | Debt/mktcap 70.5% >= 33%; Interest/rev 7.3% >= 5% |
| 2026-08-15 | CPT | Camden Property Trust | Real Estate | Review → Excluded | Debt/mktcap 35.2% >= 33%; Interest/rev 8.8% >= 5% |
| 2026-08-15 | CLX | Clorox | Consumer Staples | Review → Excluded | Debt/mktcap 43.2% >= 33% |
| 2026-08-15 | CDW | CDW Corporation | Information Technology | Compliant → Excluded | Debt/mktcap 33.2% >= 33% |
| 2026-08-15 | BDX | Becton Dickinson | Health Care | Review → Excluded | Debt/mktcap 38.4% >= 33% |
| 2026-08-15 | XOM | ExxonMobil | Energy | Review → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-15 | NUE | Nucor | Materials | Review → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-15 | MRK | Merck & Co. | Health Care | Review → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-15 | HPE | Hewlett Packard Enterprise | Information Technology | Excluded → Compliant | Ratios back inside AAOIFI thresholds |
| 2026-08-15 | GDDY | GoDaddy | Information Technology | Excluded → Compliant | Ratios back inside AAOIFI thresholds |
How this works
The nightly US Shariah screener re-screens the full S&P 500 against AAOIFI Shariah Standard No. 21. This tracker replays every published run and records two things: the daily count of compliant vs excluded companies, and every company whose overall verdict changed between consecutive runs — with the specific ratio breach (or recovery) that caused it.
Verdicts move for two reasons: prices (market cap is the denominator of the debt and receivables ratios, so a falling stock can push a company out of compliance without any balance-sheet change) and fresh financial statements. Changes are only counted for companies present in both runs, so index reconstitutions do not appear as drift.