Is Global X Solar ETF halal to invest in?

As of September 2026, Global X Solar ETF RAYS is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.

Is Global X Solar ETF a Shariah-compliant ETF?

An ETF is considered Shariah-compliant if its underlying assets consist primarily of companies that operate in permissible business activities and meet Islamic financial screening thresholds. Musaffa analyzes Global X Solar ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for Global X Solar ETF updated?

The Shariah compliance status of Global X Solar ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Can a halal ETF like Global X Solar ETF become non-compliant?

Yes. An ETF that is currently Shariah-compliant may become non-compliant if its underlying holdings change or if the financial ratios of the companies within the fund exceed Shariah thresholds.

Where can I check the Shariah status of Global X Solar ETF?

You can check the latest Shariah compliance status of Global X Solar ETF on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

Global X Solar ETF RAYS

RAYS Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, Global X Solar ETF is classified as not halal.

NOT HALAL

Is Global X Solar ETF Halal?

Shariah Compliance Analysis of RAYS ETF

US Equity Theme

No. As of September 2026, Global X Solar ETF (RAYS) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Global X Solar ETF does not pass Musaffa's business and financial screening criteria.

RAYS was created on 2021-09-08 by Global X. The fund's investment portfolio concentrates primarily on theme equity. The ETF currently has 5.05m in AUM and 48 holdings. RAYS tracks a market-cap-weighted index of global solar energy companies selected based on their revenue generated from solar-related business, and ESG criteria.

Global X Solar ETF (RAYS) Chart

Key Statistics of Global X Solar ETF (RAYS)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Information Technology
54.28%
Industrials
33.41%
Utilities
6.22%
Other
3.32%
Materials
2.77%

FAQ's for Global X Solar ETF (RAYS)

As of September 2026, Global X Solar ETF RAYS is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.
An ETF is considered Shariah-compliant if its underlying assets consist primarily of companies that operate in permissible business activities and meet Islamic financial screening thresholds. Musaffa analyzes Global X Solar ETF using these criteria to determine its compliance status.
The Shariah compliance status of Global X Solar ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.
Yes. An ETF that is currently Shariah-compliant may become non-compliant if its underlying holdings change or if the financial ratios of the companies within the fund exceed Shariah thresholds.
You can check the latest Shariah compliance status of Global X Solar ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.