Is Madison Covered Call ETF halal to invest in?

As of September 2026, Madison Covered Call ETF CVRD 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 Madison 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 Madison Covered Call ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for Madison Covered Call ETF updated?

The Shariah compliance status of Madison 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 Madison 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 Madison Covered Call ETF?

You can check the latest Shariah compliance status of Madison Covered Call ETF on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

Madison Covered Call ETF CVRD

CVRD Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, Madison Covered Call ETF is classified as not halal.

NOT HALAL

Is Madison Covered Call ETF Halal?

Shariah Compliance Analysis of CVRD ETF

US Equity Total Market

No. As of September 2026, Madison Covered Call ETF (CVRD) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Madison Covered Call ETF does not pass Musaffa's business and financial screening criteria.

CVRD was created on 2023-08-21 by Madison. The fund's investment portfolio concentrates primarily on total market equity. The ETF currently has 39.21m in AUM and 35 holdings. CVRD focuses on income generation by investing in US large- and mid-cap stocks that pay dividends, combined with an option writing strategy. The fund is actively managed.

Madison Covered Call ETF (CVRD) Chart

Key Statistics of Madison Covered Call ETF (CVRD)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Other
25.68%
Information Technology
18.17%
Financials
9.92%
Health Care
9.33%
Consumer Discretionary
8.36%
Consumer Staples
6.57%
Industrials
5.94%
Energy
4.39%
Communication Services
4.18%
Materials
3.39%
Utilities
2.47%
Real Estate
1.60%

FAQ's for Madison Covered Call ETF (CVRD)

As of September 2026, Madison Covered Call ETF CVRD 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.
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 Madison Covered Call ETF using these criteria to determine its compliance status.
The Shariah compliance status of Madison Covered Call ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.
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.
You can check the latest Shariah compliance status of Madison Covered Call ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.