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

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

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

The Shariah compliance status of First Trust Mid Cap Growth 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 Growth 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 Growth AlphaDEX Fund?

You can check the latest Shariah compliance status of First Trust Mid Cap Growth 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 Growth AlphaDEX Fund FNY

FNY Shariah Compliance

Screening Methodology: AAOIFI

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

NOT HALAL

Is First Trust Mid Cap Growth AlphaDEX Fund ETF Halal?

Shariah Compliance Analysis of FNY ETF

US Equity Mid Cap

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

FNY was created on 2011-04-19 by First Trust. The fund's investment portfolio concentrates primarily on mid cap equity. The ETF currently has 474.16m in AUM and 224 holdings. FNY tracks a tiered equal-weighted index of mid-cap growth stocks selected by AlphaDex selection methodology from the S&P 400 Index.

First Trust Mid Cap Growth AlphaDEX Fund (FNY) Chart

Key Statistics of First Trust Mid Cap Growth AlphaDEX Fund (FNY)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Industrials
21.92%
Financials
16.69%
Health Care
14.73%
Information Technology
14.52%
Consumer Discretionary
12.94%
Real Estate
5.83%
Materials
5.38%
Consumer Staples
3.40%
Communication Services
1.59%
Energy
1.41%
Utilities
1.38%
Other
0.21%

FAQ's for First Trust Mid Cap Growth AlphaDEX Fund (FNY)

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