Is Evolve Canadian Utilities Enhanced Yield Index Fund halal to invest in?

As of September 2026, Evolve Canadian Utilities Enhanced Yield Index Fund UTES.TO 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 Evolve Canadian Utilities Enhanced Yield Index Fund 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 Evolve Canadian Utilities Enhanced Yield Index Fund using these criteria to determine its compliance status.

How often is the Shariah compliance for Evolve Canadian Utilities Enhanced Yield Index Fund updated?

The Shariah compliance status of Evolve Canadian Utilities Enhanced Yield Index Fund may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Where can I check the Shariah status of Evolve Canadian Utilities Enhanced Yield Index Fund?

You can check the latest Shariah compliance status of Evolve Canadian Utilities Enhanced Yield Index Fund on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

Evolve Canadian Utilities Enhanced Yield Index Fund UTES.TO

UTES.TO Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, Evolve Canadian Utilities Enhanced Yield Index Fund is classified as not halal.

NOT HALAL

Is Evolve Canadian Utilities Enhanced Yield Index Fund ETF Halal?

Shariah Compliance Analysis of UTES.TO ETF

CA Equity Utilities

No. As of September 2026, Evolve Canadian Utilities Enhanced Yield Index Fund (UTES.TO) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. Evolve Canadian Utilities Enhanced Yield Index Fund does not pass Musaffa's business and financial screening criteria.

UTES.TO was created on 2024-09-03 by Evolve. The fund's investment portfolio concentrates primarily on utilities equity. The fund provides 1.25x leveraged exposure to an equal-weighted index of Canadian companies in the utility, pipeline, and telecommunication sectors. The fund writes covered call options on up to 33% of the portfolio.

Evolve Canadian Utilities Enhanced Yield Index Fund (UTES.TO) Chart

Key Statistics of Evolve Canadian Utilities Enhanced Yield Index Fund (UTES.TO)

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FAQ's for Evolve Canadian Utilities Enhanced Yield Index Fund (UTES.TO)

As of September 2026, Evolve Canadian Utilities Enhanced Yield Index Fund UTES.TO 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 Evolve Canadian Utilities Enhanced Yield Index Fund using these criteria to determine its compliance status.
The Shariah compliance status of Evolve Canadian Utilities Enhanced Yield Index Fund 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 Evolve Canadian Utilities Enhanced Yield Index Fund on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.