What is Destra Multi-Alternative Fund's Shariah compliance score?

Destra Multi-Alternative Fund's (DMA) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Destra Multi-Alternative Fund pass AAOIFI screening?

Destra Multi-Alternative Fund (DMA) 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% (DMA: 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 Destra Multi-Alternative 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 Destra Multi-Alternative Fund (DMA) using the latest financial data.

Where can I screen Destra Multi-Alternative Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Destra Multi-Alternative Fund (DMA) 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 DMA's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

DMA: Is Destra Multi-Alternative Fund Halal?

Destra Multi-Alternative Fund

NYSEFinancial ServicesUS

$7.58

+0.13%

Market Cap: 67.9M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Destra Multi-Alternative Fund (DMA) halal? Not Halal. Based on AAOIFI screening, Destra Multi-Alternative 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.

29.7% of 5.0% limit

40% of the basket's holdings were screened individually.

About Destra Multi-Alternative Fund

Managed by Pinhook Capital, LLC, this closed-end balanced mutual fund, known as the Multi-Strategy Growth & Income Fund, strategically invests in U.S. public equity and fixed-income markets. For its equity component, the fund primarily targets companies within the real estate sector, including Real Estate Investment Trusts (REITs), utilizing direct investments, other funds, and derivatives such as options, across all market capitalization ranges. The fixed-income portion encompasses structured notes, notes, bonds, and asset-backed securities. Its investment methodology combines fundamental and quantitative analysis, emphasizing investments that offer the highest expected income, robust capital appreciation potential, and relatively low volatility. This U.S.-domiciled fund commenced operations on June 3, 2011.

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% (29.7%)

Basket Composition

40% 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.

30%

60%

Halal9%

Doubtful1%

Not Halal30%

Unknown60%

Top Holdings

CANYON CLO FUND IIIUnknown14.55%Fidelity Investments Money Market Treasury Portfolio, Class IIINot Halal10.12%CLEAR STREET GROUPUnknown7.06%CANYON CLO FUND II L.P.Unknown5.73%Aventine PropertyUnknown4.90%Fidelity Investments Money Market Government Portfolio Class INot Halal3.68%COPIA WEALTH STUDIOSUnknown3.60%NUTURE SERIES BUnknown3.20%National Healthcare Properties, IncUnknown3.06%PRESERVATION REIT 1Unknown2.89%

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%

More Financial Services Stocks

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JPMorgan Chase & Co.

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A+

PYPL

PayPal Holdings, Inc.

BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is Destra Multi-Alternative Fund (DMA) halal to invest in?

Destra Multi-Alternative Fund (DMA) 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 Destra Multi-Alternative Fund get a F compliance rating?

Destra Multi-Alternative 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 Destra Multi-Alternative Fund's Shariah verdict?

Destra Multi-Alternative 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 Destra Multi-Alternative Fund re-screened for Shariah compliance?

Destra Multi-Alternative Fund (DMA) 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.