What is Virtus Equity & Convertible Income Fund's Shariah compliance score?

Virtus Equity & Convertible Income Fund's (NIE) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Virtus Equity & Convertible Income Fund pass AAOIFI screening?

Virtus Equity & Convertible Income Fund (NIE) 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% (NIE: 0.0%), (3) interest-bearing deposits below 30% (NIE: 0.0%), and (4) prohibited income below 5% (NIE: 43.3%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Virtus Equity & Convertible Income Fund stock?

Virtus Equity & Convertible Income Fund (NIE) has a non-permissible income ratio of 43.30%. Muslim investors should purify this percentage of any dividends received and capital gains realized from NIE 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 Virtus Equity & Convertible Income Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Virtus Equity & Convertible Income Fund (NIE) 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 NIE's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

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

NIE: Is Virtus Equity & Convertible Income Fund Halal?

Not Halal

Virtus Equity & Convertible Income Fund

NYSEFinancial ServicesUS

$26.40

-2.62%

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It primarily invests in growth stocks of companies. The fund also invests in income producing convertible securities. It employs fundamental analysis focusing on factors like above-average earnings growth, high return on invested capital, a healthy or improving balance sheet, strong competitive advantages, and development of new technologies to make its investments. The fund was formerly known as AGIC Equity & Convertible Income Fund. Virtus Equity & Convertible Income Fund was formed on Feb 27, 2007 and is domiciled in the United States.

Sector: Financial Services · Industry: Asset Management - Income

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 16, 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% (45.5%)

Basket Composition

95% 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.

49%

46%

Halal49%

Doubtful0%

Haram46%

Unknown5%

Top Holdings

NVDANVIDIA Corphalal5.58%AAPLApple Inchalal4.03%GOOGLAlphabet Inchalal3.33%AMZNAmazon.com Inchalal3.31%MSFTMicrosoft Corphalal3.23%BlackRock Liquidity FedFundharam2.61%AVGOBroadcom Inchalal1.75%METAMeta Platforms Inchalal1.51%WDCWESTERN DIGITAL CORPharam1.35%LITELUMENTUM HOLDINGS INCharam1.31%

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 16, 2026Fiscal: N/ASource: FMP-LOOKTHROUGH

Financial Overview

Market Cap

731.5M

Price

$26.40

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

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Frequently Asked Questions

Is Virtus Equity & Convertible Income Fund (NIE) halal to invest in?

Virtus Equity & Convertible Income Fund (NIE) 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 Virtus Equity & Convertible Income Fund get a F compliance rating?

Virtus Equity & Convertible 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 Virtus Equity & Convertible Income Fund's Shariah verdict?

Virtus Equity & Convertible 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 Virtus Equity & Convertible Income Fund re-screened for Shariah compliance?

Virtus Equity & Convertible Income Fund (NIE) 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 16, 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.