Is SPDR S&P 500 (SPY) halal?
SPY holds all 500 companies in the S&P 500 with no Shariah filter, so it includes conventional banks, insurers, alcohol, gambling and other excluded sectors, plus the fund earns interest on cash. It is not a halal investment. For S&P 500-style exposure that is screened, see SPUS or HLAL.
Provider: State Street
Why ETFs are screened differently
An ETF holds dozens or hundreds of underlying securities, so its halal status depends on (1) whether those holdings are individually Shariah-compliant, (2) whether the fund screens and purifies, and (3) the fund's own structure (e.g. interest earned on cash). You can't judge it with a single company's debt-to-market-cap ratio — which is why HalalGauge shows a curated summary for funds rather than a company screen.
Other ETF tickers
HalalGauge surfaces published scholarly methodologies with full sourcing; it does not issue fatwa or certify any security as halal. Verify with a qualified scholar before investing.