What is XAI Madison Equity Premium Income Fund's Shariah compliance score?

XAI Madison Equity Premium Income Fund's (MCN) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does XAI Madison Equity Premium Income Fund pass AAOIFI screening?

XAI Madison Equity Premium Income Fund (MCN) 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% (MCN: 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 XAI Madison Equity Premium Income 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 XAI Madison Equity Premium Income Fund (MCN) using the latest financial data.

Where can I screen XAI Madison Equity Premium Income Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for XAI Madison Equity Premium Income Fund (MCN) 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 MCN's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

MCN: Is XAI Madison Equity Premium Income Fund Halal?

XAI Madison Equity Premium Income Fund

NYSEFinancial ServicesUS

$5.68

+0.35%

Market Cap: 119.2M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is XAI Madison Equity Premium Income Fund (MCN) halal? Not Halal. Based on AAOIFI screening, XAI Madison Equity Premium Income 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.

54.5% of 5.0% limit

100% of the basket's holdings were screened individually.

About XAI Madison Equity Premium Income Fund

The XAI Madison Equity Premium Income Fund operates as a closed-end investment vehicle. Its core mission is to generate significant current income and immediate profits, with a complementary objective of achieving long-term capital appreciation. This fund was established on May 6, 2004, and maintains its principal office in Madison, Wisconsin.

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% (54.5%)

Basket Composition

100% 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.

45%

55%

Halal45%

Doubtful0%

Not Halal55%

Unknown0%

Top Holdings

First American Government ObliNot Halal9.58%RIGTransocean LtdNot Halal5.41%APAAPA CorpNot Halal4.06%PEPPepsiCo IncHalal3.77%LVSLas Vegas Sands CorpNot Halal3.39%DHRDanaher CorpHalal3.28%MTDRMatador Resources CoNot Halal2.94%MDTMedtronic PLCHalal2.91%AMZNAmazon.com IncHalal2.90%ADMArcher-Daniels-Midland CoNot Halal2.89%

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%

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JPMorgan Chase & Co.

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PYPL

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BAC

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WFC

Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is XAI Madison Equity Premium Income Fund (MCN) halal to invest in?

XAI Madison Equity Premium Income Fund (MCN) 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 XAI Madison Equity Premium Income Fund get a F compliance rating?

XAI Madison Equity Premium Income 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 XAI Madison Equity Premium Income Fund's Shariah verdict?

XAI Madison Equity Premium Income 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 XAI Madison Equity Premium Income Fund re-screened for Shariah compliance?

XAI Madison Equity Premium Income Fund (MCN) 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.