Is Direxion Daily Oil Services Bull 2X Shares halal to invest in?

As of September 2026, Direxion Daily Oil Services Bull 2X Shares ONG 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 Direxion Daily Oil Services Bull 2X Shares 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 Direxion Daily Oil Services Bull 2X Shares using these criteria to determine its compliance status.

How often is the Shariah compliance for Direxion Daily Oil Services Bull 2X Shares updated?

The Shariah compliance status of Direxion Daily Oil Services Bull 2X Shares may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Can a halal ETF like Direxion Daily Oil Services Bull 2X Shares 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 Direxion Daily Oil Services Bull 2X Shares?

You can check the latest Shariah compliance status of Direxion Daily Oil Services Bull 2X Shares on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

Direxion Daily Oil Services Bull 2X Shares ONG

ONG Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, Direxion Daily Oil Services Bull 2X Shares is classified as not halal.

NOT HALAL

Is Direxion Daily Oil Services Bull 2X Shares ETF Halal?

Shariah Compliance Analysis of ONG ETF

US Equity Energy

No. As of September 2026, Direxion Daily Oil Services Bull 2X Shares (ONG) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Direxion Daily Oil Services Bull 2X Shares does not pass Musaffa's business and financial screening criteria.

ONG was created on 2022-01-20 by Direxion. The fund's investment portfolio concentrates primarily on energy equity. ONG provides 2x daily leveraged exposure to a market cap-weighted index of 25 of the largest U.S.-listed oil services companies.

Direxion Daily Oil Services Bull 2X Shares (ONG) Chart

Key Statistics of Direxion Daily Oil Services Bull 2X Shares (ONG)

Today's Open

AUM

Avg. Volume

Expense Ratio

P/E Ratio

P/B Ratio

Sector Exposure

Other
70.43%
Energy
29.57%

FAQ's for Direxion Daily Oil Services Bull 2X Shares (ONG)

As of September 2026, Direxion Daily Oil Services Bull 2X Shares ONG 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 Direxion Daily Oil Services Bull 2X Shares using these criteria to determine its compliance status.
The Shariah compliance status of Direxion Daily Oil Services Bull 2X Shares 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 Direxion Daily Oil Services Bull 2X Shares on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.