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

Reaves Utility Income Fund

UTG: Is Reaves Utility Income Fund Halal?

Not Halal

Reaves Utility Income Fund

AMEXFinancial ServicesUS

$41.92

-0.12%

About Reaves Utility Income Fund

Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc. The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations. It employs a combination of quantitative and fundamental analysis with bottom-up stock picking approach to create its portfolio. Reaves Utility Income Fund was formed on September 15, 2003 and is domiciled in the United States.

Sector: Financial Services 路 Industry: Asset Management - Income

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 12, 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% (80.8%)

Basket Composition

88% 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.

29%
81%
Halal29%
Doubtful3%
Haram81%
Unknown0%

Top Holdings

TLNTalen Energy Corpharam10.24%CNPCenterPoint Energy Incharam5.84%IDAIDACORP Incharam4.97%VSTVistra Corpharam4.89%CEGConstellation Energy Corphalal4.80%XELXcel Energy Incharam4.72%ETREntergy Corpharam4.28%NINiSource Incharam4.28%MPMP Materials Corpharam4.20%Deutsche Telekom AGunknown4.14%

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

Financial Overview

Market Cap

3.8B

Price

$41.92

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:

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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

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BAC

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WFC

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Frequently Asked Questions

Is Reaves Utility Income Fund (UTG) halal to invest in?
Reaves Utility Income Fund (UTG) 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 Reaves Utility Income Fund get a F compliance rating?
Reaves Utility 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 Reaves Utility Income Fund's Shariah verdict?
Reaves Utility 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 Reaves Utility Income Fund re-screened for Shariah compliance?
Reaves Utility Income Fund (UTG) 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 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.