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

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

Does Nuveen AMT-Free Quality Municipal Income Fund pass AAOIFI screening?

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

How much purification is needed for Nuveen AMT-Free Quality Municipal Income Fund stock?

Nuveen AMT-Free Quality Municipal Income Fund (NEA) has a non-permissible income ratio of 100.00%. Muslim investors should purify this percentage of any dividends received and capital gains realized from NEA 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 AMT-Free Quality Municipal Income Fund for Shariah compliance for free?

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

NEA: Is Nuveen AMT-Free Quality Municipal Income Fund Halal?

Nuveen AMT-Free Quality Municipal Income Fund

NYSEFinancial ServicesUS

$11.59

+0.61%

Market Cap: 3.5B

Compliance Status

Not Halal

Screened on Jul 15, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Nuveen AMT-Free Quality Municipal Income Fund (NEA) halal? Not Halal. Based on AAOIFI screening, Nuveen AMT-Free 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.

166.0% of 5.0% limit

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

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

AAOIFI Standard 21Updated Jul 15, 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% (166.0%)

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.

166%

Halal0%

Doubtful0%

Not Halal166%

Unknown0%

Top Holdings

E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000BNot Halal1.16%Lamar Consolidated Independent School District, Fort Bend County, Texas, General Obligation Bonds, Schoolhouse Series 2026Not Halal1.16%E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000BNot Halal1.13%Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior LNot Halal0.94%New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006CNot Halal0.93%Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1Not Halal0.91%Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2019ANot Halal0.86%New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006CNot Halal0.86%Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015ANot Halal0.85%Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2021ANot Halal0.85%

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 AMT-Free Quality Municipal Income Fund (NEA) halal to invest in?

Nuveen AMT-Free Quality Municipal Income Fund (NEA) 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 AMT-Free Quality Municipal Income Fund get a F compliance rating?

Nuveen AMT-Free 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 AMT-Free Quality Municipal Income Fund's Shariah verdict?

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

Nuveen AMT-Free Quality Municipal Income Fund (NEA) 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 15, 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.