Is Highland Funds I - Highland Income Fund (HFRO) halal? Not Halal. Based on AAOIFI screening, Highland Funds I - Highland Income Fund has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Highland Funds I - Highland Income Fund

HFRO: Is Highland Funds I - Highland Income Fund Halal?

Not Halal

Highland Funds I - Highland Income Fund

NYSEFinancial ServicesUS

$6.73

+1.36%

About Highland Funds I - Highland Income Fund

Highland Funds I - Highland Floating Rate Opportunities Fund is a close-ended fixed income mutual fund launched by Highland Capital Management, L.P. It is managed by Highland Capital Management Fund Advisors, L.P. The fund invests in fixed income markets of countries across the globe. It primarily invests in floating rate loans and other securities deemed to be floating rate investments, with an emphasis on adjustable rate senior loans to corporations and partnerships. The fund seeks to invest in below investment grade securities. It also invests through derivatives. The fund benchmarks the performance of its portfolio against the Credit Suisse Leveraged Loan Index. It was formerly known as Pyxis Funds I - Pyxis Floating Rate Opportunities Fund. Highland Funds I - Highland Floating Rate Opportunities Fund was formed on January 13, 2000 and is domiciled in the United States.

Sector: Financial Services 路 Industry: Asset Management - Income

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 17, 2026
F

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% (52.5%)

Basket Composition

21% 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.

52%
48%
Halal0%
Doubtful0%
Haram52%
Unknown48%

Top Holdings

N/Aunknown15.55%N/Aunknown11.41%N/Aunknown10.87%N/Aunknown10.74%N/Aunknown9.68%NREFNEXPOINT REAL ESTATE FINANCE, INC.haram9.40%TRQ PLANO, LLCharam7.76%N/Aharam7.02%N/Aharam5.07%N/Aunknown4.03%

Compliance History

  1. Not Halalnow

    since Jun 2026

  2. Under Review

    until the change above

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

Screened: Jun 17, 2026Fiscal: N/ASource: FMP-LOOKTHROUGH

Financial Overview

Market Cap

372.9M

Price

$6.73

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:

SPDR Gold Shares
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iShares Silver Trust
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iShares Silver Trust

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+0.47%

AllianceBernstein Holding L.P.
ABA+

AllianceBernstein Holding L.P.

$36.03

-1.13%

Inflection Point Acquisition Corp. III
IPCXA+

Inflection Point Acquisition Corp. III

$10.31

+0.00%

Axiom Intelligence Acquisition Corp 1
AXINA+

Axiom Intelligence Acquisition Corp 1

$10.42

+0.29%

More Financial Services Stocks

JPM

JPMorgan Chase & Co.

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A

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PYPL

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C

BAC

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WFC

Wells Fargo & Company

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Frequently Asked Questions

Is Highland Funds I - Highland Income Fund (HFRO) halal to invest in?
Highland Funds I - Highland Income Fund (HFRO) 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 Highland Funds I - Highland Income Fund get a F compliance rating?
Highland Funds I - Highland 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 Highland Funds I - Highland Income Fund's Shariah verdict?
Highland Funds I - Highland 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 Highland Funds I - Highland Income Fund re-screened for Shariah compliance?
Highland Funds I - Highland Income Fund (HFRO) 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 17, 2026.

Screened according to AAOIFI Standard No. 21 路 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.