Is Alger Mid Cap 40 ETF halal to invest in?

As of September 2026, Alger Mid Cap 40 ETF FRTY 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 Alger Mid Cap 40 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 Alger Mid Cap 40 ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for Alger Mid Cap 40 ETF updated?

The Shariah compliance status of Alger Mid Cap 40 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 Alger Mid Cap 40 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 Alger Mid Cap 40 ETF?

You can check the latest Shariah compliance status of Alger Mid Cap 40 ETF on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

Alger Mid Cap 40 ETF FRTY

FRTY Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, Alger Mid Cap 40 ETF is classified as not halal.

NOT HALAL

Is Alger Mid Cap 40 ETF Halal?

Shariah Compliance Analysis of FRTY ETF

US Equity Mid Cap

No. As of September 2026, Alger Mid Cap 40 ETF (FRTY) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Alger Mid Cap 40 ETF does not pass Musaffa's business and financial screening criteria.

FRTY was created on 2021-02-26 by Alger. The fund's investment portfolio concentrates primarily on mid cap equity. FRTY is an actively-managed, non-transparent ETF that provides exposure to US mid-cap companies with growth characteristics. The fund utilizes the Precidian non-transparent model.

Alger Mid Cap 40 ETF (FRTY) Chart

Key Statistics of Alger Mid Cap 40 ETF (FRTY)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Information Technology
25.38%
Other
21.16%
Industrials
18.91%
Health Care
11.28%
Consumer Discretionary
10.65%
Communication Services
3.60%
Utilities
3.04%
Energy
2.51%
Financials
2.04%
Consumer Staples
1.43%

FAQ's for Alger Mid Cap 40 ETF (FRTY)

As of September 2026, Alger Mid Cap 40 ETF FRTY 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 Alger Mid Cap 40 ETF using these criteria to determine its compliance status.
The Shariah compliance status of Alger Mid Cap 40 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 Alger Mid Cap 40 ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.