Is First Trust Indxx Medical Devices ETF halal to invest in?

As of September 2026, First Trust Indxx Medical Devices ETF MDEV is classified as 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 Indxx Medical Devices 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 First Trust Indxx Medical Devices ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for First Trust Indxx Medical Devices ETF updated?

The Shariah compliance status of First Trust Indxx Medical Devices 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 First Trust Indxx Medical Devices 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 First Trust Indxx Medical Devices ETF?

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

First Trust Indxx Medical Devices ETF MDEV

MDEV Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, First Trust Indxx Medical Devices ETF is classified as halal.

HALAL

Is First Trust Indxx Medical Devices ETF Halal?

Shariah Compliance Analysis of MDEV ETF

US Equity Health Care

Yes. As of September 2026, First Trust Indxx Medical Devices ETF (MDEV) is classified as HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. First Trust Indxx Medical Devices ETF passes Musaffa's business and financial screening criteria.

MDEV was created on 2021-06-22 by First Trust. The fund's investment portfolio concentrates primarily on health care equity. The ETF currently has 2.12m in AUM and 51 holdings. MDEV tracks an equal-weighted index that gives global exposure to the medical equipment industry.

First Trust Indxx Medical Devices ETF (MDEV) Chart

Key Statistics of First Trust Indxx Medical Devices ETF (MDEV)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Health Care
97.30%
Industrials
1.96%
Other
0.74%

FAQ's for First Trust Indxx Medical Devices ETF (MDEV)

As of September 2026, First Trust Indxx Medical Devices ETF MDEV is classified as 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 Indxx Medical Devices ETF using these criteria to determine its compliance status.
The Shariah compliance status of First Trust Indxx Medical Devices 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 First Trust Indxx Medical Devices ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.