Is First Trust Mid Cap Value AlphaDEX Fund halal to invest in?

As of September 2026, First Trust Mid Cap Value AlphaDEX Fund FNK 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 First Trust Mid Cap Value AlphaDEX Fund 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 First Trust Mid Cap Value AlphaDEX Fund using these criteria to determine its compliance status.

How often is the Shariah compliance for First Trust Mid Cap Value AlphaDEX Fund updated?

The Shariah compliance status of First Trust Mid Cap Value AlphaDEX Fund may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Can a halal ETF like First Trust Mid Cap Value AlphaDEX Fund 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 First Trust Mid Cap Value AlphaDEX Fund?

You can check the latest Shariah compliance status of First Trust Mid Cap Value AlphaDEX Fund on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

First Trust Mid Cap Value AlphaDEX Fund FNK

FNK Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, First Trust Mid Cap Value AlphaDEX Fund is classified as not halal.

NOT HALAL

Is First Trust Mid Cap Value AlphaDEX Fund ETF Halal?

Shariah Compliance Analysis of FNK ETF

US Equity Mid Cap

No. As of September 2026, First Trust Mid Cap Value AlphaDEX Fund (FNK) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. First Trust Mid Cap Value AlphaDEX Fund does not pass Musaffa's business and financial screening criteria.

FNK was created on 2011-04-19 by First Trust. The fund's investment portfolio concentrates primarily on mid cap equity. The ETF currently has 202.31m in AUM and 226 holdings. FNK tracks a mid-cap index that selects value stocks using quant methodology and applies an equal-tiered weighting scheme.

First Trust Mid Cap Value AlphaDEX Fund (FNK) Chart

Key Statistics of First Trust Mid Cap Value AlphaDEX Fund (FNK)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Financials
23.03%
Consumer Discretionary
17.08%
Industrials
14.54%
Energy
14.21%
Utilities
7.09%
Materials
6.62%
Information Technology
5.26%
Health Care
4.33%
Real Estate
3.04%
Consumer Staples
2.32%
Communication Services
1.75%
Other
0.73%

FAQ's for First Trust Mid Cap Value AlphaDEX Fund (FNK)

As of September 2026, First Trust Mid Cap Value AlphaDEX Fund FNK 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 First Trust Mid Cap Value AlphaDEX Fund using these criteria to determine its compliance status.
The Shariah compliance status of First Trust Mid Cap Value AlphaDEX Fund 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 First Trust Mid Cap Value AlphaDEX Fund on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.