Is Nuveen Municipal Income ETF halal to invest in?

As of September 2026, Nuveen Municipal Income ETF NUMI 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 Nuveen Municipal Income 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 Nuveen Municipal Income ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for Nuveen Municipal Income ETF updated?

The Shariah compliance status of Nuveen Municipal Income 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 Nuveen Municipal Income 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 Nuveen Municipal Income ETF?

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

Nuveen Municipal Income ETF NUMI

NUMI Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, Nuveen Municipal Income ETF is classified as not halal.

NOT HALAL

Is Nuveen Municipal Income ETF Halal?

Shariah Compliance Analysis of NUMI ETF

US Fixed Income Broad Credit

No. As of September 2026, Nuveen Municipal Income ETF (NUMI) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Nuveen Municipal Income ETF does not pass Musaffa's business and financial screening criteria.

NUMI was created on 2025-01-22 by Nuveen. The fund's investment portfolio concentrates primarily on broad credit fixed income. The ETF currently has 65.74m in AUM and 234 holdings. NUMI seeks to provide federal tax-exempt current income through an actively managed portfolio of US municipal bonds of any credit quality. The fund maintains an overall weighted average maturity of greater than 10 years.

Nuveen Municipal Income ETF (NUMI) Chart

Key Statistics of Nuveen Municipal Income ETF (NUMI)

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FAQ's for Nuveen Municipal Income ETF (NUMI)

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