Is Global X Enhanced S&P/TSX 60 Covered Call ETF halal to invest in?

As of October 2026, Global X Enhanced S&P/TSX 60 Covered Call ETF CNCL.TO is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.

Is Global X Enhanced S&P/TSX 60 Covered Call ETF a Shariah-compliant ETF?

An ETF is considered Shariah-compliant if its underlying assets consist primarily of companies that operate in permissible business activities and meet Islamic financial screening thresholds. Musaffa analyzes Global X Enhanced S&P/TSX 60 Covered Call ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for Global X Enhanced S&P/TSX 60 Covered Call ETF updated?

The Shariah compliance status of Global X Enhanced S&P/TSX 60 Covered Call ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Can a halal ETF like Global X Enhanced S&P/TSX 60 Covered Call ETF become non-compliant?

Yes. An ETF that is currently Shariah-compliant may become non-compliant if its underlying holdings change or if the financial ratios of the companies within the fund exceed Shariah thresholds.

Where can I check the Shariah status of Global X Enhanced S&P/TSX 60 Covered Call ETF?

You can check the latest Shariah compliance status of Global X Enhanced S&P/TSX 60 Covered Call ETF on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

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Global X Enhanced S&P/TSX 60 Covered Call ETF CNCL.TO

Is Global X Enhanced S&P/TSX 60 Covered Call ETF Halal?

Shariah Compliance Analysis of CNCL.TO ETF

No. As of October 2026, Global X Enhanced S&P/TSX 60 Covered Call ETF (CNCL.TO) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology.

CNCL.TO was created on 2023-07-05 by Global X. The fund's investment portfolio concentrates primarily on large cap equity. The fund seeks to provide 1.25x leverage on a market-cap weighted index that uses a covered call overlay, with exposure to the largest Canadian companies selected by an investment committee.

CNCL.TO Shariah Compliance

As of October 2026, Global X Enhanced S&P/TSX 60 Covered Call ETF is classified as not halal.

NOT HALAL

Global X Enhanced S&P/TSX 60 Covered Call ETF (CNCL.TO) Chart

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