FIW: Is First Trust Water ETF Halal?
First Trust Water ETF
$104.48
Market Cap: 1.8B
Compliance Status
Not Halal
Screened on Sep 29, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is First Trust Water ETF (FIW) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, First Trust Water ETF has 5% or more of its basket by weight in non-compliant holdings with a compliance score of 0/100 (Grade: F).
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HalalScreener rates First Trust Water ETF (FIW) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Sep 29, 2026. Source: https://halalscreener.app/en/stock/FIW
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
95% of the basket's holdings were screened individually.
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About First Trust Water ETF
The First Trust Water ETF functions as an exchange-traded fund whose primary goal is to mirror the financial performance, in terms of both its market price and dividends generated, of the ISE Clean Edge Water Index. This objective is measured prior to the subtraction of any administrative charges or operating costs.
Sector: Financial Services · Industry: Asset Management
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why FIW 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% (26.6%)
Basket Composition
95% 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 Aug 2026.
No status changes recorded since we began tracking.
Tracked since Aug 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:
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Frequently Asked Questions
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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.