Roundhill Magnificent Seven ETF (MAGS) - Questionable
Roundhill Magnificent Seven ETF (MAGS) is classified as Questionable according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- ETF
- Industry
- Exchange-Traded Fund
- Result
- Doubtful
- Reason
- MAGS is an ETF. Individual stock screening does not apply to ETFs — review the fund's underlying holdings for Shariah compliance.
Financial Ratios
About Roundhill Magnificent Seven ETF
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective through its investment exposure to the companies comprising the “Magnificent Seven,” a group of seven companies commonly recognized for their market dominance in technological innovation. The fund is non-diversified.
Frequently Asked Questions
Is Roundhill Magnificent Seven ETF (MAGS) stock halal to invest in?
According to AAOIFI Shariah screening standards, Roundhill Magnificent Seven ETF (MAGS) is currently classified as Questionable. This is based on both business activity and financial ratio screening.
Does Roundhill Magnificent Seven ETF have any interest income?
Interest income data for Roundhill Magnificent Seven ETF is factored into the financial ratio screening under AAOIFI standards.
What guidelines are used to determine if MAGS stock is Shariah-compliant?
MAGS is screened using AAOIFI Standard No. 21, which involves two checks: business activity screening (ensuring the company's core business is permissible in Islam) and financial ratio screening (checking debt, interest income, and cash ratios against defined thresholds). AAOIFI is the most widely recognized standard for Islamic finance.
How often is Roundhill Magnificent Seven ETF stock reviewed for Shariah compliance?
Roundhill Magnificent Seven ETF's compliance status is reviewed whenever new financial data becomes available, typically after quarterly or annual earnings reports. Market cap changes can also affect financial ratio screening results. Mizaan refreshes screening data periodically to reflect the latest filings.