Compliance Status
Not Halal
Screened on Oct 15, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Nuveen California Municipal Value Fund (NCA) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Nuveen California Municipal Value 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 California Municipal Value Fund (NCA) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 15, 2026. Source: https://halalscreener.app/en/stock/NCA
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
96% of the basket's holdings were screened individually.
NCA: Is Nuveen California Municipal Value Fund Halal?
Nuveen California Municipal Value Fund
$8.36
Market Cap: 276.8M
Get an email if NCA's halal status changes
We re-screen Nuveen California Municipal Value Fund daily. If the verdict moves, you hear about it the same day.
Free. One click sets it up, and you can unsubscribe any time.
About Nuveen California Municipal Value Fund
The Nuveen California Municipal Value Fund (NCA) is a closed-end investment vehicle, established by Nuveen Investments, Inc., which began operations on October 7, 1987, and is domiciled in the United States. Management responsibilities are jointly shared by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund's core objective is to invest in California's fixed income markets, primarily targeting municipal securities rated Baa/BBB or higher. A significant draw for investors is the income generated from these holdings, which is designed to be exempt from both federal and California state income taxes. Its portfolio is meticulously constructed using a fundamental analysis approach combined with bottom-up security selection. To gauge its performance, the fund compares its results against the S&P California Municipal Bond Index and the S&P National Municipal Bond Index.
Sector: Financial Services · Industry: Asset Management
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why NCA 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% (96.0%)
Basket Composition
96% 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 Jul 2026
Under Review
until the change above
Tracked since May 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:
More Financial Services Stocks
Know the day NCA's verdict changes
A free account keeps watch on 3 stocks and emails you when a verdict moves. You also get 3 questions for the AI Scholar. No card needed.
Frequently Asked Questions
Is Nuveen California Municipal Value Fund (NCA) halal to invest in?
Why did Nuveen California Municipal Value Fund get a F compliance rating?
What could change Nuveen California Municipal Value Fund's Shariah verdict?
How often is Nuveen California Municipal Value Fund re-screened for Shariah compliance?
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.