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

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

Does Nuveen New York Quality Municipal Income Fund pass AAOIFI screening?

Nuveen New York Quality Municipal Income Fund (NAN) 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% (NAN: 0.0%), (3) interest-bearing deposits below 30% (NAN: 0.0%), and (4) prohibited income below 5% (NAN: 100.0%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Nuveen New York Quality Municipal Income Fund stock?

Nuveen New York Quality Municipal Income Fund (NAN) has a non-permissible income ratio of 100.00%. Muslim investors should purify this percentage of any dividends received and capital gains realized from NAN shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

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

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Nuveen New York Quality Municipal Income Fund (NAN) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about NAN's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

NAN: Is Nuveen New York Quality Municipal Income Fund Halal?

Nuveen New York Quality Municipal Income Fund

NYSEFinancial ServicesUS

$11.60

+0.43%

Market Cap: 370.6M

Compliance Status

Not Halal

Screened on Jul 13, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Nuveen New York Quality Municipal Income Fund (NAN) halal? Not Halal. Based on AAOIFI screening, Nuveen New York Quality Municipal 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.

162.6% of 5.0% limit

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

About Nuveen New York Quality Municipal Income Fund

The Nuveen New York Quality Municipal Income Fund, formerly known as the Nuveen New York Dividend Advantage Municipal Fund, is a closed-end mutual fund concentrating on fixed-income investments. This fund was established by Nuveen Investments, Inc., and receives joint management from Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. Its investment strategy involves allocating capital primarily within New York's fixed income markets, focusing specifically on municipal bonds that carry a rating of Baa or higher. The portfolio is constructed using a bottom-up stock-picking approach, guided by thorough fundamental analysis. To assess its performance, the fund benchmarks against both the Standard & Poor's New York Municipal Bond Index and the Standard & Poor's National Municipal Bond Index. It commenced operations on May 26, 1999, and is domiciled in the United States.

Sector: Financial Services · Industry: Asset Management - Income

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 13, 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% (162.6%)

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.

163%

Halal0%

Doubtful0%

Not Halal163%

Unknown0%

Top Holdings

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1Not Halal6.09%New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Series 2024CNot Halal5.75%New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016ANot Halal3.75%New York City, New York, General Obligation Bonds, Fiscal 2026 Series DNot Halal3.43%Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1Not Halal3.23%New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Series 2024CNot Halal3.22%Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005ANot Halal3.16%New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2025A-3Not Halal2.87%Battery Park City Authority, New York, Revenue Bonds, Senior Sustainability Series 2019ANot Halal2.77%Dormitory Authority of the State of New York, General Revenue Bonds, Northwell Health Obligated Group, Series 2022ANot Halal2.76%

Compliance History

Not Halalnow
since Jul 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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This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Frequently Asked Questions

Is Nuveen New York Quality Municipal Income Fund (NAN) halal to invest in?

Nuveen New York Quality Municipal Income Fund (NAN) 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 New York Quality Municipal Income Fund get a F compliance rating?

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

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

Nuveen New York Quality Municipal Income Fund (NAN) 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: Jul 13, 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.