Compliance Status
Not Halal
Screened on Oct 11, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Destra Multi-Alternative Fund (DMA) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Destra Multi-Alternative Fund has 5% or more of its basket by weight in non-compliant holdings with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates Destra Multi-Alternative Fund (DMA) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 11, 2026. Source: https://halalscreener.app/en/stock/DMA
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
42% of the basket's holdings were screened individually.
DMA: Is Destra Multi-Alternative Fund Halal?
Destra Multi-Alternative Fund
$7.48
Market Cap: 67.0M
Get an email if DMA's halal status changes
We re-screen Destra Multi-Alternative Fund daily. If the verdict moves, you hear about it the same day.
Free. One click sets it up, and you can unsubscribe any time.
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
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why DMA is rated Not Halal with institutional-grade analysis
Business Activity Screen
FailedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
- Basket-weighted haram holdings exceed 5% (28.3%)
Basket Composition
42% of basket screenedETFs 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.
Top Holdings
The verdict above is final and free.
Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.
Screened according to AAOIFI Standard 21
Compliance History
Not Halal, unchanged since Sep 2026.
No status changes recorded since we began tracking.
Tracked since Sep 2026. Updates automatically on each re-screen.
Halal Alternatives in Financial Services
This fund is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:
More Financial Services Stocks
Know the day DMA's verdict changes
A free account keeps watch on 3 stocks and emails you when a verdict moves. You also get 3 questions for the AI Scholar. No card needed.
Frequently Asked Questions
Is Destra Multi-Alternative Fund (DMA) halal to invest in?
Why did Destra Multi-Alternative Fund get a F compliance rating?
What could change Destra Multi-Alternative Fund's Shariah verdict?
How often is Destra Multi-Alternative Fund re-screened for Shariah compliance?
Screened by holdings look-through under 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. A fund is evaluated by screening its holdings under AAOIFI financial standards and weighing the result, using 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.