Is Roundhill Daily 2X Long Magnificent Seven ETF halal to invest in?

As of September 2026, Roundhill Daily 2X Long Magnificent Seven ETF MAGX 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 Roundhill Daily 2X Long Magnificent Seven 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 Roundhill Daily 2X Long Magnificent Seven ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for Roundhill Daily 2X Long Magnificent Seven ETF updated?

The Shariah compliance status of Roundhill Daily 2X Long Magnificent Seven 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 Roundhill Daily 2X Long Magnificent Seven 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 Roundhill Daily 2X Long Magnificent Seven ETF?

You can check the latest Shariah compliance status of Roundhill Daily 2X Long Magnificent Seven ETF on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

Roundhill Daily 2X Long Magnificent Seven ETF MAGX

MAGX Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, Roundhill Daily 2X Long Magnificent Seven ETF is classified as not halal.

NOT HALAL

Is Roundhill Daily 2X Long Magnificent Seven ETF Halal?

Shariah Compliance Analysis of MAGX ETF

US Equity Theme

No. As of September 2026, Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Roundhill Daily 2X Long Magnificent Seven ETF does not pass Musaffa's business and financial screening criteria.

MAGX was created on 2024-02-29 by Roundhill. The fund's investment portfolio concentrates primarily on theme equity. MAGX is an actively managed fund-of-funds aiming to achieve 2x the return, for a single day, of the Roundhill Magnificent Seven ETF (MAGS) through derivative instruments such as swaps.

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) Chart

Key Statistics of Roundhill Daily 2X Long Magnificent Seven ETF (MAGX)

Today's Open

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Avg. Volume

Expense Ratio

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P/B Ratio

FAQ's for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX)

As of September 2026, Roundhill Daily 2X Long Magnificent Seven ETF MAGX 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 Roundhill Daily 2X Long Magnificent Seven ETF using these criteria to determine its compliance status.
The Shariah compliance status of Roundhill Daily 2X Long Magnificent Seven 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 Roundhill Daily 2X Long Magnificent Seven ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.