What is First Trust Enhanced Equity Income Fund's Shariah compliance score?

First Trust Enhanced Equity Income Fund's (FFA) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does First Trust Enhanced Equity Income Fund pass AAOIFI screening?

First Trust Enhanced Equity Income Fund (FFA) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (FFA: 0.0%), (3) interest-bearing deposits below 30% (FFA: 0.0%), and (4) prohibited income below 5% (FFA: 20.1%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for First Trust Enhanced Equity Income Fund stock?

First Trust Enhanced Equity Income Fund (FFA) has a non-permissible income ratio of 20.06%. Muslim investors should purify this percentage of any dividends received and capital gains realized from FFA shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen First Trust Enhanced Equity Income Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for First Trust Enhanced Equity Income Fund (FFA) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about FFA's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

Is First Trust Enhanced Equity Income Fund (FFA) halal? Not Halal. Based on AAOIFI screening, First Trust Enhanced Equity Income Fund has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

FFA: Is First Trust Enhanced Equity Income Fund Halal?

Not Halal

First Trust Enhanced Equity Income Fund

NYSEFinancial ServicesUS

$22.46

-2.52%

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners, L.P. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across the diversified sectors. It invests in stocks of companies across diversified market capitalizations. The fund also writes covered call options. It benchmarks the performance of its portfolio against the S&P 500 Index. The fund was formerly known as First Trust/Fiduciary Asset Management Covered Call Fund. First Trust Enhanced Equity Income Fund was formed on August 26, 2004 and is domiciled in the United States.

Sector: Financial Services · Industry: Asset Management - Income

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 14, 2026

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Basket-weighted haram holdings exceed 5% (23.8%)

Basket Composition

98% of basket screened

ETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.

72%

24%

Halal72%

Doubtful1%

Haram24%

Unknown3%

Top Holdings

AAPLApple Inc.halal8.96%MSFTMicrosoft Corp.halal7.31%NVDANVIDIA Corp.halal6.97%GOOGLAlphabet Inc.halal6.37%JPMJPMorgan Chase & Co.haram3.99%AVGOBroadcom Inchalal3.44%AMZNAmazon.com, Inc.halal2.54%CATCaterpillar Inchalal2.20%KOCoca-Cola Co (The)halal1.94%XOMExxon Mobil Corp.halal1.88%

Compliance History

Not Halalnow
current status
Under Review
until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 14, 2026Fiscal: N/ASource: FMP-LOOKTHROUGH

Financial Overview

Market Cap

448.9M

Price

$22.46

Sector

Financial Services

Industry

Asset Management - Income

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

$388.60

+0.17%

SLVA+

iShares Silver Trust

$60.61

+0.47%

ABA+

AllianceBernstein Holding L.P.

$36.03

-1.13%

IPCXA+

Inflection Point Acquisition Corp. III

$10.31

+0.00%

AXINA+

Axiom Intelligence Acquisition Corp 1

$10.42

+0.29%

More Financial Services Stocks

JPM

JPMorgan Chase & Co.

Visa Inc.

Mastercard Incorporated

A+

PYPL

PayPal Holdings, Inc.

BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

Track FFA and 10,000+ stocks with AI insights

Create your free account to unlock AI-powered compliance analysis, track your portfolio, calculate purification, and get unlimited AAOIFI screening.

Get Started Free Browse Screener

10,000+ assets AAOIFI standards Free watchlist

Frequently Asked Questions

Is First Trust Enhanced Equity Income Fund (FFA) halal to invest in?

First Trust Enhanced Equity Income Fund (FFA) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did First Trust Enhanced Equity Income Fund get a F compliance rating?

First Trust Enhanced Equity Income Fund's compliance grade is determined by AAOIFI Standard 21 screening, a two-step process: (1) qualitative screen for prohibited business activities and (2) quantitative check of debt, interest deposits, and prohibited income ratios. Scroll up to see the detailed ratio breakdown.

What could change First Trust Enhanced Equity Income Fund's Shariah verdict?

First Trust Enhanced Equity Income Fund's verdict is recalculated whenever the fund rebalances or holdings change materially. If the haram-weight of underlying holdings crosses 5% (the AAOIFI threshold for fund look-through), the verdict will flip to Not Halal. HalalScreener rescreens ETFs at each rebalance cycle.

How often is First Trust Enhanced Equity Income Fund re-screened for Shariah compliance?

First Trust Enhanced Equity Income Fund (FFA) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 14, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.