Is Nuveen AMT-Free Quality Municipal Income Fund (NEA) Halal?
Shariah Screening — 5 Standards
Based on financial data from October 2025
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | Excluded — Asset Management | ✗ NOT HALAL | |||
| DJIM | Excluded — Asset Management | ✗ NOT HALAL | |||
| MSCI | Excluded — Asset Management | ✗ NOT HALAL | |||
| S&P | Excluded — Asset Management | ✗ NOT HALAL | |||
| FTSE | Excluded — Asset Management | ✗ NOT HALAL | |||
Financial Highlights
Profitability
| Gross Margin | 100.0% | |
| Operating Margin | 82.1% | |
| Net Margin | 30.4% | |
| Return on Equity (ROE) | 2.3% | |
| Return on Assets (ROA) | 2.3% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $324M |
| Free Cash Flow | $324M |
| Total Debt | $7M |
| Debt-to-Equity | 68.6 |
| Current Ratio | 3.0 |
| Total Assets | $6.0B |
Price & Trading
| Last Close | $10.97 |
| 50-Day MA | $11.64 |
| 200-Day MA | $11.34 |
| Avg Volume | 866K |
| Beta | 0.7 |
|
52-Week Range
$10.00
| |
About Nuveen AMT-Free Quality Municipal Income Fund (NEA)
Nuveen AMT-Free Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc. The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the fixed income markets of the United States. The fund primarily invests in undervalued municipal bonds that are exempt from federal income taxes, including the alternative minimum tax. It seeks to invest in securities that are rated Baa/BBB or better by S&P, Moody's, or Fitch. The fund's investment portfolio comprises investments in various industries, which include transportation, healthcare, utilities, housing/multifamily, and water and sewer. It was formerly known as Nuveen AMT-Free Municipal Income Fund. Nuveen AMT-Free Quality Municipal Income Fund was formed on November 21, 2002 and is domiciled in the United States.
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Frequently Asked Questions
Is Nuveen AMT-Free Quality Municipal Income Fund (NEA) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), Nuveen AMT-Free Quality Municipal Income Fund is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is Nuveen AMT-Free Quality Municipal Income Fund's debt ratio?
Nuveen AMT-Free Quality Municipal Income Fund's debt ratio is not available under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%.
What are Nuveen AMT-Free Quality Municipal Income Fund's key financial metrics?
Nuveen AMT-Free Quality Municipal Income Fund has a market capitalization of $3.3B, trailing P/E ratio of 39.4, and revenue of $99M. The company maintains a gross margin of 100.0% and a net margin of 30.4%. Return on equity stands at 2.3%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.