Is MicroSectors FANG+ Index 2X Leveraged ETNs halal to invest in?

As of September 2026, MicroSectors FANG+ Index 2X Leveraged ETNs FNGO 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 2X Leveraged ETNs 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 2X Leveraged ETNs using these criteria to determine its compliance status.

How often is the Shariah compliance for MicroSectors FANG+ Index 2X Leveraged ETNs updated?

The Shariah compliance status of MicroSectors FANG+ Index 2X Leveraged ETNs may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Can a halal ETF like MicroSectors FANG+ Index 2X Leveraged ETNs 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 MicroSectors FANG+ Index 2X Leveraged ETNs?

You can check the latest Shariah compliance status of MicroSectors FANG+ Index 2X Leveraged ETNs on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

MicroSectors FANG+ Index 2X Leveraged ETNs FNGO

FNGO Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, MicroSectors FANG+ Index 2X Leveraged ETNs is classified as not halal.

NOT HALAL

Is MicroSectors FANG+ Index 2X Leveraged ETNs ETF Halal?

Shariah Compliance Analysis of FNGO ETF

US Equity Theme

No. As of September 2026, MicroSectors FANG+ Index 2X Leveraged ETNs (FNGO) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. MicroSectors FANG+ Index 2X Leveraged ETNs does not pass Musaffa's business and financial screening criteria.

FNGO was created on 2018-08-01 by REX Microsectors. The fund's investment portfolio concentrates primarily on theme equity. FNGO provides 2x the daily price movements of an index of US-listed technology and consumer discretionary companies. The index is highly concentrated and equally weighted.

MicroSectors FANG+ Index 2X Leveraged ETNs (FNGO) Chart

Key Statistics of MicroSectors FANG+ Index 2X Leveraged ETNs (FNGO)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Information Technology
47.98%
Communication Services
29.00%
Consumer Discretionary
23.01%

FAQ's for MicroSectors FANG+ Index 2X Leveraged ETNs (FNGO)

As of September 2026, MicroSectors FANG+ Index 2X Leveraged ETNs FNGO 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 2X Leveraged ETNs using these criteria to determine its compliance status.
The Shariah compliance status of MicroSectors FANG+ Index 2X Leveraged ETNs 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 2X Leveraged ETNs on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.