Compliance Status
Not Halal
Screened on Oct 19, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Nuveen Quality Municipal Income Fund (NAD) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Nuveen Quality Municipal Income 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 Nuveen Quality Municipal Income Fund (NAD) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 19, 2026. Source: https://halalscreener.app/en/stock/NAD
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
100% of the basket's holdings were screened individually.
NAD: Is Nuveen Quality Municipal Income Fund Halal?
Nuveen Quality Municipal Income Fund
$10.36
Market Cap: 2.4B
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About Nuveen Quality Municipal Income Fund
The Nuveen Quality Municipal Income Fund (NAD) is a U.S.-domiciled, closed-end mutual fund that began operations on January 15, 1999, having previously been known as the Nuveen Dividend Advantage Municipal Fund. Launched by Nuveen Investments, Inc., this fund is jointly overseen by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. Its core objective is to invest in undervalued municipal bonds and similar instruments within the American fixed-income market, aiming to generate income that is exempt from federal income taxes. The fund's portfolio predominantly comprises investment-grade securities, targeting an average maturity of roughly 18 years. Management employs a bottom-up, fundamental analysis approach for constructing its holdings. Its performance is measured against benchmarks set by Standard & Poor's (S&P).
Sector: Financial Services · Industry: Asset Management - Income
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why NAD 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% (99.9%)
Basket Composition
100% 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 Halalnow
since Aug 2026
Under Review
until the change above
Tracked since May 2026. Updates automatically on each re-screen.
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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.