Is NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest (MMD) halal? Not Halal. Based on AAOIFI screening, NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

MMD: Is NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest Halal?

Not Halal

NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest

NYSEFinancial ServicesUS

$15.22

+0.26%

About NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest

MainStay DefinedTerm Municipal Opportunities Fund is a closed-ended fixed income mutual fund launched and managed by New York Life Investment Management LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds which are exempt from regular U.S. Federal income taxes. It benchmarks the performance of its portfolio against the Barclays Municipal Bond Index. MainStay DefinedTerm Municipal Opportunities Fund was formed on June 26, 2012 and is domiciled in the United States.

Sector: Financial Services · Industry: Asset Management

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 12, 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% (152.3%)

Basket Composition

100% 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.

152%

Halal0%

Doubtful0%

Haram152%

Unknown0%

Top Holdings

City of Los Angelesharam4.89%Pennsylvania Economic Development Financing Authorityharam4.22%Las Vegas Valley Water Districtharam3.68%Sales Tax Securitization Corp.haram3.60%Denver City & County School Districtharam3.56%Puerto Rico Sales Tax Financing Corp.haram3.52%County of Leeharam3.45%Southern California Public Power Authorityharam3.45%New Hampshire Business Finance Authorityharam3.44%Port Authority of New York & New Jerseyharam3.40%

Compliance History

Not Halalnow
since Jun 2026
Under Review
until the change above

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

Screened: Jun 12, 2026Fiscal: N/ASource: FMP-LOOKTHROUGH

Financial Overview

Market Cap

285.8M

Price

$15.22

Sector

Financial Services

Industry

Asset Management

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 MMD 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 NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest (MMD) halal to invest in?

NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest (MMD) 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 NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest get a F compliance rating?

NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest'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 NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest's Shariah verdict?

NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest'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 NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest re-screened for Shariah compliance?

NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest (MMD) 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 12, 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.