Is NYLI MacKay Muni Insured ETF halal to invest in?

As of September 2026, NYLI MacKay Muni Insured ETF MMIN 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 NYLI MacKay Muni Insured 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 NYLI MacKay Muni Insured ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for NYLI MacKay Muni Insured ETF updated?

The Shariah compliance status of NYLI MacKay Muni Insured 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 NYLI MacKay Muni Insured 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 NYLI MacKay Muni Insured ETF?

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

NYLI MacKay Muni Insured ETF MMIN

MMIN Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, NYLI MacKay Muni Insured ETF is classified as not halal.

NOT HALAL

Is NYLI MacKay Muni Insured ETF Halal?

Shariah Compliance Analysis of MMIN ETF

US Fixed Income Investment Grade

No. As of September 2026, NYLI MacKay Muni Insured ETF (MMIN) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. NYLI MacKay Muni Insured ETF does not pass Musaffa's business and financial screening criteria.

MMIN was created on 2017-10-18 by New York Life Investments. The fund's investment portfolio concentrates primarily on investment grade fixed income. MMIN is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities.

NYLI MacKay Muni Insured ETF (MMIN) Chart

Key Statistics of NYLI MacKay Muni Insured ETF (MMIN)

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FAQ's for NYLI MacKay Muni Insured ETF (MMIN)

As of September 2026, NYLI MacKay Muni Insured ETF MMIN 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 NYLI MacKay Muni Insured ETF using these criteria to determine its compliance status.
The Shariah compliance status of NYLI MacKay Muni Insured 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 NYLI MacKay Muni Insured ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.