What is Nuveen Quality Municipal Income Fund's Shariah compliance score?

Nuveen Quality Municipal Income Fund's (NAD) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Nuveen Quality Municipal Income Fund pass AAOIFI screening?

Nuveen Quality Municipal Income Fund (NAD) 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% (NAD: 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 Nuveen Quality Municipal 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 Nuveen Quality Municipal Income Fund (NAD) using the latest financial data.

Where can I screen Nuveen Quality Municipal Income Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Nuveen Quality Municipal Income Fund (NAD) 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 NAD's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

NAD: Is Nuveen Quality Municipal Income Fund Halal?

Nuveen Quality Municipal Income Fund

NYSEFinancial ServicesUS

$11.93

-0.42%

Market Cap: 2.8B

Compliance Status

Not Halal

Screened on Sep 1, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Nuveen Quality Municipal Income Fund (NAD) halal? Not Halal. Based on AAOIFI screening, Nuveen Quality Municipal Income Fund has involvement in prohibited business activities 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 Sep 1, 2026. Source: https://halalscreener.app/en/stock/NAD

Basket rule

Over the limit

An ETF is halal when non-compliant holdings stay under 5% of the basket by weight.

99.9% of 5.0% limit

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

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

AAOIFI Standard 21Updated Sep 1, 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% (99.9%)

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.

100%

Halal0%

Doubtful0%

Not Halal100%

Unknown0%

Top Holdings

E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004ANot Halal0.90%New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014Not Halal0.63%Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, SeriNot Halal0.62%Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Priority Subordinated Series 2017ANot Halal0.61%New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016ANot Halal0.61%Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2019ANot Halal0.60%Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1Not Halal0.60%Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Health Projects, Series 2019ANot Halal0.57%Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007Not Halal0.56%Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2017BNot Halal0.52%

Compliance History

Not Halalnow
since Aug 2026
Under Review
until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: N/AData source: FMP-LOOKTHROUGH

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Frequently Asked Questions

Is Nuveen Quality Municipal Income Fund (NAD) halal to invest in?

Nuveen Quality Municipal Income Fund (NAD) 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 Nuveen Quality Municipal Income Fund get a F compliance rating?

Nuveen Quality Municipal 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 Nuveen Quality Municipal Income Fund's Shariah verdict?

Nuveen Quality Municipal 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 Nuveen Quality Municipal Income Fund re-screened for Shariah compliance?

Nuveen Quality Municipal Income Fund (NAD) 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: Sep 1, 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.