Compliance Status
Not Halal
Screened on Oct 16, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Nuveen AMT-Free Quality Municipal Income Fund (NEA) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Nuveen AMT-Free 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 AMT-Free Quality Municipal Income Fund (NEA) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 16, 2026. Source: https://halalscreener.app/en/stock/NEA
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.
NEA: Is Nuveen AMT-Free Quality Municipal Income Fund Halal?
Nuveen AMT-Free Quality Municipal Income Fund
$10.08
Market Cap: 3.0B
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About Nuveen AMT-Free Quality Municipal Income Fund
The Nuveen AMT-Free Quality Municipal Income Fund is a closed-ended mutual fund specializing in fixed income, launched by Nuveen Investments Inc. Management responsibilities are shared by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. This fund primarily allocates capital within the U.S. fixed income market, with a key focus on acquiring undervalued municipal bonds that offer exemption from both federal income tax and the alternative minimum tax (AMT). It seeks to include securities with a credit rating of Baa/BBB or better from prominent agencies like S&P, Moody's, or Fitch. The fund's diverse investment portfolio spans various industries, including transportation, healthcare, utilities, housing/multifamily, and water and sewer systems. Originally established on November 21, 2002, and based in the United States, this fund was formerly recognized as the Nuveen AMT-Free Municipal Income Fund.
Sector: Financial Services · Industry: Asset Management - Income
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why NEA 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% (100.0%)
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 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:
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Frequently Asked Questions
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Why did Nuveen AMT-Free Quality Municipal Income Fund get a F compliance rating?
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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.