Does Voya Emerging Markets High Dividend Equity Fund pass AAOIFI screening?

Voya Emerging Markets High Dividend Equity Fund (IHD) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (IHD: 0.0%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Voya Emerging Markets High Dividend Equity Fund stock?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the exact percentage and amount for Voya Emerging Markets High Dividend Equity Fund (IHD) using the latest financial data.

Where can I screen Voya Emerging Markets High Dividend Equity Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Voya Emerging Markets High Dividend Equity Fund (IHD) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about IHD's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

IHD: Is Voya Emerging Markets High Dividend Equity Fund Halal?

Voya Emerging Markets High Dividend Equity Fund

NYSEFinancial ServicesUS

$7.65

+2.14%

Market Cap: 141.7M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Voya Emerging Markets High Dividend Equity Fund (IHD) halal? Not Halal. Based on AAOIFI screening, Voya Emerging Markets High Dividend Equity Fund has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Basket rule

Over the limit

An ETF is halal when non-compliant holdings stay under 5% of the basket by weight.

8.9% of 5.0% limit

42% of the basket's holdings were screened individually.

About Voya Emerging Markets High Dividend Equity Fund

The Voya Emerging Markets High Dividend Equity Fund is a U.S.-domiciled, closed-end equity mutual fund. Established on April 26, 2011, it was launched by Voya Investment Management LLC and is currently co-managed by ING Investment Management Advisors B.V. and Voya Investments, LLC. The fund, previously known as the ING Emerging Markets High Dividend Equity Fund, primarily invests in publicly traded companies across diverse sectors within global emerging markets. Its core focus is on dividend-paying stocks, though it also utilizes derivatives, such as call options on selected ETFs or international equity indices, to achieve economic exposure similar to direct share ownership. Portfolio construction is driven by a meticulous bottom-up stock selection process, integrating both fundamental and quantitative analysis. The fund's performance is measured against the MSCI Emerging Markets Index.

Sector: Financial Services · Industry: Asset Management

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 26, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Basket-weighted haram holdings exceed 5% (8.9%)

Basket Composition

42% of basket screened

ETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.

33%

58%

Halal33%

Doubtful0%

Not Halal9%

Unknown58%

Top Holdings

TSMTAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTDHalal14.42%SSNLFSAMSUNG ELECTRONICS CO LTDHalal8.38%SKHYSK HYNIX INCHalal6.97%ISHARES INCUnknown2.11%TENCENT HOLDINGS LTDUnknown2.03%DELTA ELECTRONICS INCUnknown1.67%BABAALIBABA GROUP HOLDING LTDNot Halal1.55%HON HAI PRECISION INDUSTRY COMPANY LTDUnknown1.20%MEDIATEK INCUnknown1.05%UMCUNITED MICROELECTRONICS CORPHalal0.82%

Fiscal: N/AData source: FMP-LOOKTHROUGH

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

$398.55

+0.17%

SLVA+

iShares Silver Trust

$57.44

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

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Free · No credit card required

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Frequently Asked Questions

Is Voya Emerging Markets High Dividend Equity Fund (IHD) halal to invest in?

Voya Emerging Markets High Dividend Equity Fund (IHD) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Voya Emerging Markets High Dividend Equity Fund get a F compliance rating?

Voya Emerging Markets High Dividend Equity Fund's compliance grade is determined by AAOIFI Standard 21 screening, a two-step process: (1) qualitative screen for prohibited business activities and (2) quantitative check of debt, interest deposits, and prohibited income ratios. Scroll up to see the detailed ratio breakdown.

What could change Voya Emerging Markets High Dividend Equity Fund's Shariah verdict?

Voya Emerging Markets High Dividend Equity Fund's verdict is recalculated whenever the fund rebalances or holdings change materially. If the haram-weight of underlying holdings crosses 5% (the AAOIFI threshold for fund look-through), the verdict will flip to Not Halal. HalalScreener rescreens ETFs at each rebalance cycle.

How often is Voya Emerging Markets High Dividend Equity Fund re-screened for Shariah compliance?

Voya Emerging Markets High Dividend Equity Fund (IHD) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Aug 26, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.