Is MicroSectors FANG+ Index -3X Inverse Leveraged ETN halal to invest in?

As of September 2026, MicroSectors FANG+ Index -3X Inverse Leveraged ETN FNGD 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 MicroSectors FANG+ Index -3X Inverse Leveraged ETN 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 MicroSectors FANG+ Index -3X Inverse Leveraged ETN using these criteria to determine its compliance status.

How often is the Shariah compliance for MicroSectors FANG+ Index -3X Inverse Leveraged ETN updated?

The Shariah compliance status of MicroSectors FANG+ Index -3X Inverse Leveraged ETN may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Where can I check the Shariah status of MicroSectors FANG+ Index -3X Inverse Leveraged ETN?

You can check the latest Shariah compliance status of MicroSectors FANG+ Index -3X Inverse Leveraged ETN on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

MicroSectors FANG+ Index -3X Inverse Leveraged ETN FNGD

FNGD Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, MicroSectors FANG+ Index -3X Inverse Leveraged ETN is classified as not halal.

NOT HALAL

Is MicroSectors FANG+ Index -3X Inverse Leveraged ETN ETF Halal?

Shariah Compliance Analysis of FNGD ETF

US Equity Theme

No. As of September 2026, MicroSectors FANG+ Index -3X Inverse Leveraged ETN (FNGD) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. MicroSectors FANG+ Index -3X Inverse Leveraged ETN does not pass Musaffa's business and financial screening criteria.

FNGD was created on 2018-01-22 by REX Microsectors. The fund's investment portfolio concentrates primarily on theme equity. FNGD tracks -3x the daily price movements of an index of technology and consumer discretionary companies. The note uses derivatives to achieve its -3x exposure.

MicroSectors FANG+ Index -3X Inverse Leveraged ETN (FNGD) Chart

Key Statistics of MicroSectors FANG+ Index -3X Inverse Leveraged ETN (FNGD)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Information Technology
48.02%
Communication Services
30.92%
Consumer Discretionary
21.06%

FAQ's for MicroSectors FANG+ Index -3X Inverse Leveraged ETN (FNGD)

As of September 2026, MicroSectors FANG+ Index -3X Inverse Leveraged ETN FNGD 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 MicroSectors FANG+ Index -3X Inverse Leveraged ETN using these criteria to determine its compliance status.
The Shariah compliance status of MicroSectors FANG+ Index -3X Inverse Leveraged ETN 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 MicroSectors FANG+ Index -3X Inverse Leveraged ETN on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.