Verdicts genuinely change. Free email alert the moment MENYX's does — no target price to set, unlike "Alert" above.
Whether this fund clears the published standards, and the filings behind that answer. The screen runs first and nothing on the trading side can override it.
Structure, momentum, positioning and levels. Separate from the Sharia verdict above, which this side never overrides.
Madison Covered Call & Equity Income Fund · MADISON FUNDS
72 holdings
This fund holds short positions, so exposure is counted gross — long and short both count as exposure rather than netting off, and the weights below therefore sum to 108% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
NON-COMPLIANT 47.27% of portfolio weight is in non-compliant holdings, over the 5% threshold.
72 holdings, 34 matched (88% of weight). Portfolio as of 2026-07-31, filed 2026-09-17. Source: SEC Form N-PORT.
3.79% of this portfolio’s income is non-permissible — weighted across holdings, computed over 85% of portfolio weight (33 of 72 holdings). The common approach purifies that proportion of income received — dividends — not of the position’s value. We report the ratio; what to do with it is a question for your own scholar.
39.1% compliant 4.7% questionable 43.9% non-compliant 12.2% unscreened
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| State Street Global Advisors | UNSCREENED | 8.18% | no in-house ratios for this holding |
| RIG Transocean Ltd | NON_COMPLIANT | 6.60% | AAOIFI78.3% Usmani33.8% Dow Jones Islamic118.5% S&P Shariah113.6% MSCI Islamic33.8% MSCI Islamic M-Series113.6% FTSE Shariah33.8% |
| ADM Archer-Daniels-Midland Co | COMPLIANT | 5.55% | AAOIFI21.9% Usmani16.7% Dow Jones Islamic31.3% S&P Shariah30.5% MSCI Islamic16.7% MSCI Islamic M-Series30.5% FTSE Shariah14.2% |
| APA APA Corp | NON_COMPLIANT | 5.31% | AAOIFI25.9% Usmani21.6% Dow Jones Islamic42.6% S&P Shariah41.4% MSCI Islamic21.6% MSCI Islamic M-Series41.4% FTSE Shariah20.8% |
| PEP PepsiCo Inc | COMPLIANT | 5.28% | AAOIFI23.4% Usmani39.4% Dow Jones Islamic22.7% S&P Shariah22.0% MSCI Islamic39.4% MSCI Islamic M-Series22.0% FTSE Shariah39.4% |
| MTDR Matador Resources Co | NON_COMPLIANT | 4.99% | AAOIFI57.6% Usmani31.2% Dow Jones Islamic69.1% S&P Shariah66.4% MSCI Islamic31.2% MSCI Islamic M-Series66.4% FTSE Shariah31.2% |
| CME CME Group Inc | NON_COMPLIANT | 3.69% | AAOIFI0.4% Usmani0.2% Dow Jones Islamic2.3% S&P Shariah2.5% MSCI Islamic0.2% MSCI Islamic M-Series2.5% FTSE Shariah0.0% |
| MRSH Marsh & McLennan Cos Inc | NON_COMPLIANT | 3.64% | AAOIFI24.1% Usmani35.8% Dow Jones Islamic22.1% S&P Shariah22.2% MSCI Islamic35.8% MSCI Islamic M-Series22.2% FTSE Shariah32.7% |
| MSFT Microsoft Corp | QUESTIONABLE | 3.46% | AAOIFI1.5% Usmani7.5% Dow Jones Islamic1.7% S&P Shariah1.8% MSCI Islamic7.5% MSCI Islamic M-Series1.8% FTSE Shariah5.3% |
| PYPL PayPal Holdings Inc | NON_COMPLIANT | 3.19% | AAOIFI22.1% Usmani12.5% Dow Jones Islamic16.3% S&P Shariah16.0% MSCI Islamic12.5% MSCI Islamic M-Series16.0% FTSE Shariah11.7% |
| STZ Constellation Brands Inc | NON_COMPLIANT | 3.05% | AAOIFI49.1% Usmani49.0% Dow Jones Islamic38.2% S&P Shariah33.6% MSCI Islamic49.0% MSCI Islamic M-Series33.6% FTSE Shariah46.1% |
| ADBE Adobe Inc | COMPLIANT | 3.03% | AAOIFI4.5% Usmani22.6% Dow Jones Islamic4.6% S&P Shariah3.8% MSCI Islamic22.6% MSCI Islamic M-Series3.8% FTSE Shariah21.2% |
| MDT Medtronic PLC | COMPLIANT | 3.02% | AAOIFI24.4% Usmani31.5% Dow Jones Islamic26.4% S&P Shariah27.4% MSCI Islamic31.4% MSCI Islamic M-Series27.4% FTSE Shariah30.2% |
| LVS Las Vegas Sands Corp | NON_COMPLIANT | 3.00% | AAOIFI53.8% Usmani76.7% Dow Jones Islamic44.9% S&P Shariah45.0% MSCI Islamic76.7% MSCI Islamic M-Series45.0% FTSE Shariah76.7% |
| AES AES Corp/The | NON_COMPLIANT | 2.70% | AAOIFIpass Usmanipass Dow Jones Islamicpass S&P Shariahpass MSCI Islamicpass MSCI Islamic M-Seriespass FTSE Shariahpass |
| NEM Newmont Corp | COMPLIANT | 2.60% | AAOIFI3.8% Usmani8.8% Dow Jones Islamic6.1% S&P Shariah7.4% MSCI Islamic8.8% MSCI Islamic M-Series7.4% FTSE Shariah8.8% |
| DHR Danaher Corp | COMPLIANT | 2.49% | AAOIFI18.2% Usmani28.8% Dow Jones Islamic17.7% S&P Shariah16.7% MSCI Islamic28.8% MSCI Islamic M-Series16.7% FTSE Shariah28.8% |
| V Visa Inc | COMPLIANT | 2.32% | AAOIFI3.5% Usmani25.2% Dow Jones Islamic15.5% S&P Shariah16.7% MSCI Islamic25.2% MSCI Islamic M-Series16.7% FTSE Shariah25.2% |
| TMUS T-Mobile US Inc | NON_COMPLIANT | 2.31% | AAOIFI18.0% Usmani17.5% Dow Jones Islamic14.6% S&P Shariah15.9% MSCI Islamic16.5% MSCI Islamic M-Series15.9% FTSE Shariah2.9% |
| WY Weyerhaeuser Co | NON_COMPLIANT | 2.28% | AAOIFI31.3% Usmani32.1% Dow Jones Islamic28.8% S&P Shariah27.4% MSCI Islamic32.1% MSCI Islamic M-Series27.4% FTSE Shariah32.1% |
| LH Labcorp Holdings Inc | COMPLIANT | 2.26% | AAOIFI25.4% Usmani36.5% Dow Jones Islamic31.6% S&P Shariah33.5% MSCI Islamic36.2% MSCI Islamic M-Series33.5% FTSE Shariah31.6% |
| PFE Pfizer Inc | NON_COMPLIANT | 2.24% | AAOIFI39.8% Usmani31.4% Dow Jones Islamic46.1% S&P Shariah45.9% MSCI Islamic31.4% MSCI Islamic M-Series45.9% FTSE Shariah31.4% |
| CL Colgate-Palmolive Co | COMPLIANT | 2.13% | AAOIFI10.5% Usmani46.6% Dow Jones Islamic11.2% S&P Shariah11.2% MSCI Islamic46.6% MSCI Islamic M-Series11.2% FTSE Shariah46.6% |
| A Agilent Technologies Inc | COMPLIANT | 2.12% | AAOIFI9.3% Usmani28.3% Dow Jones Islamic10.8% S&P Shariah10.7% MSCI Islamic28.3% MSCI Islamic M-Series10.7% FTSE Shariah28.3% |
| ITW Illinois Tool Works Inc | COMPLIANT | 2.05% | AAOIFI12.7% Usmani58.8% Dow Jones Islamic13.1% S&P Shariah13.4% MSCI Islamic58.8% MSCI Islamic M-Series13.4% FTSE Shariah58.8% |
| EMR Emerson Electric Co | COMPLIANT | 1.97% | AAOIFI16.2% Usmani32.7% Dow Jones Islamic19.0% S&P Shariah20.6% MSCI Islamic32.7% MSCI Islamic M-Series20.6% FTSE Shariah31.1% |
| NEE NextEra Energy Inc | NON_COMPLIANT | 1.90% | AAOIFI55.9% Usmani44.2% Dow Jones Islamic61.0% S&P Shariah66.0% MSCI Islamic44.2% MSCI Islamic M-Series66.0% FTSE Shariah44.2% |
| SYK Stryker Corp | COMPLIANT | 1.90% | AAOIFI14.6% Usmani32.2% Dow Jones Islamic11.3% S&P Shariah11.8% MSCI Islamic32.2% MSCI Islamic M-Series11.8% FTSE Shariah31.2% |
| AMZN Amazon.com Inc | QUESTIONABLE | 1.64% | AAOIFI8.2% Usmani22.1% Dow Jones Islamic9.6% S&P Shariah10.6% MSCI Islamic20.9% MSCI Islamic M-Series10.6% FTSE Shariah12.1% |
| ACN Accenture PLC | COMPLIANT | 1.59% | AAOIFI7.7% Usmani12.2% Dow Jones Islamic5.0% S&P Shariah4.7% MSCI Islamic12.2% MSCI Islamic M-Series4.7% FTSE Shariah7.5% |
| AVGO Broadcom Inc | COMPLIANT | 1.56% | AAOIFI3.8% Usmani32.5% Dow Jones Islamic4.4% S&P Shariah5.5% MSCI Islamic32.5% MSCI Islamic M-Series5.5% FTSE Shariah32.5% |
| FISV Fiserv Inc | NON_COMPLIANT | 1.32% | AAOIFI99.4% Usmani34.6% Dow Jones Islamic38.9% S&P Shariah36.9% MSCI Islamic34.6% MSCI Islamic M-Series36.9% FTSE Shariah34.5% |
| NKE NIKE Inc | COMPLIANT | 1.29% | AAOIFI19.4% Usmani28.7% Dow Jones Islamic21.0% S&P Shariah18.2% MSCI Islamic28.7% MSCI Islamic M-Series18.2% FTSE Shariah20.7% |
| Options Clearing Corp. | UNSCREENED | 1.09% | no in-house ratios for this holding |
| HON Honeywell International Inc | NON_COMPLIANT | 1.06% | AAOIFI52.6% Usmani45.3% Dow Jones Islamic26.8% S&P Shariah27.3% MSCI Islamic45.2% MSCI Islamic M-Series27.3% FTSE Shariah43.9% |
| HONA Honeywell Aerospace Inc | COMPLIANT | 0.90% | AAOIFI32.8% Usmani83.4% Dow Jones Islamicpass S&P Shariahpass MSCI Islamic83.4% MSCI Islamic M-Seriespass FTSE Shariah81.8% |
| Options Clearing Corp. | UNSCREENED | 0.54% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.53% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.32% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.30% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.22% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.18% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.18% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.17% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.16% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.13% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.11% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.09% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.09% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.07% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.06% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.05% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.04% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.03% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.03% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.02% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.00% | no in-house ratios for this holding |
| Options Clearing Corp. | UNSCREENED | 0.00% | no in-house ratios for this holding |
The published standards disagree about this fund by 9 points of portfolio weight — 63.4% of it passes FTSE Shariah, 54.7% passes MSCI Islamic. Which number is yours depends on which standard you follow.
These bars are the financial-ratio result under each standard — debt, receivables and interest income. They do not screen what the business does, so a holding can pass every ratio here and still be questionable or non-compliant on activity. The blended verdict above accounts for both.
ratios pass on 60.2% ratios fail on 34.2% 13.1% not rated under AAOIFI
ratios pass on 57.6% ratios fail on 36.9% 13.1% not rated under Usmani
ratios pass on 59.2% ratios fail on 35.3% 13.1% not rated under Dow Jones Islamic
ratios pass on 60.1% ratios fail on 34.3% 13.1% not rated under S&P Shariah
ratios pass on 54.7% ratios fail on 39.8% 13.1% not rated under MSCI Islamic
ratios pass on 56.9% ratios fail on 37.5% 13.1% not rated under MSCI Islamic M-Series
ratios pass on 63.4% ratios fail on 31.0% 13.1% not rated under FTSE Shariah
34 of 72 listed holdings carry our own per-methodology verdicts (94% of weight). The rest hold a provider verdict with no methodology breakdown, and are counted as rated by none. Of those, 33 (92% of weight) also carry the underlying debt ratio; the rest show a verdict without the figure behind it.
| Non-compliant holding | Weight |
|---|---|
| RIG Transocean Ltd | 6.60% |
| APA APA Corp | 5.31% |
| MTDR Matador Resources Co | 4.99% |
| CME CME Group Inc | 3.69% |
| MRSH Marsh & McLennan Cos Inc | 3.64% |
| PYPL PayPal Holdings Inc | 3.19% |
| STZ Constellation Brands Inc | 3.05% |
| LVS Las Vegas Sands Corp | 3.00% |
| AES AES Corp/The | 2.70% |
| TMUS T-Mobile US Inc | 2.31% |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
Madison Covered Call & Equity Income Fund (MENYX) is currently considered not halal (non-compliant), per our own look-through to its filed holdings. See its filed holdings and the weight breakdown below for the reasoning.
HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A holding it cannot cover far enough is reported as unrated rather than counted as a pass.
| Holding | Weight | Verdict |
|---|---|---|
| State Street Global Advisorsnot matched to a ticker | 8.18% | Not screened |
| RIGTransocean Ltd | 6.60% | Non-compliant |
| ADMArcher-Daniels-Midland Co | 5.55% | Compliant |
| APAAPA Corp | 5.31% | Non-compliant |
| PEPPepsiCo Inc | 5.28% | Compliant |
| MTDRMatador Resources Co | 4.99% | Non-compliant |
| CMECME Group Inc | 3.69% | Non-compliant |
| MRSHMarsh & McLennan Cos Inc | 3.64% | Non-compliant |
| MSFTMicrosoft Corp | 3.46% | Questionable |
| PYPLPayPal Holdings Inc | 3.19% | Non-compliant |
Top 10 of 72 holdings, 49.9% of the fund by weight. Every holding is screened, not only these.
The positions keeping this fund short of 100% compliant by weight.
Verdict history for MENYX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
Tracked since 2026-09-07.
Pinch or scroll to zoom · drag to pan — both axes move · double-click to reset
This fund prices once a day, so its bars carry no intraday high or low — floor-trader pivots are not defined for it.
The range is measured volatility (ATR over the horizon), not a target — a wider band means a more volatile asset, not a stronger view. The direction is the indicator tally below. Every forecast is recorded when made and scored against the real price when it comes due, including the wrong ones. Not a recommendation, and not a fatwa.
Standard indicator thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20, MACD histogram sign, price vs. average) computed on daily bars. A summary of what common indicators say — not a recommendation, and not this site's own trading verdict.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 68.90 | NEUTRAL |
| Stochastic %K (14) | 100.00 | SELL |
| CCI (20) | 155.56 | SELL |
| Williams %R (14) | 0.00 | SELL |
| MACD (12,26,9) | 0.04 | BUY |
| ROC (10) | 3.15 | BUY |
| Momentum (10) | 0.29 | BUY |
| EMA (10) | 9.36 | BUY |
| SMA (10) | 9.34 | BUY |
| EMA (20) | 9.32 | BUY |
| SMA (20) | 9.25 | BUY |
| EMA (30) | 9.32 | BUY |
| SMA (30) | 9.29 | BUY |
| EMA (50) | 9.32 | BUY |
| SMA (50) | 9.39 | BUY |
| EMA (100) | 9.29 | BUY |
| SMA (100) | 9.27 | BUY |
| EMA (200) | 9.19 | BUY |
| SMA (200) | 9.25 | BUY |
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
The questions worth asking about any verdict on this page, answered plainly.
No. HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A fund marketed as Islamic still gets the same look-through as any other.
It is the share of the fund whose holdings HTR cannot cover far enough to rate. It is reported as unrated rather than counted as compliant, because a holding nobody screened should not look like one that passed.
It matters, and it is noted, but it does not replace the look-through. The board's judgement and the holdings screen are shown separately so you can see when they agree and when they do not.
When the fund files new holdings, and on a rolling basis besides. The date on the verdict above is the last time this fund was actually recomputed.
Open research, not a fatwa. HTR applies published screening standards to filings and publishes what they say, including when they disagree. Nothing here is financial advice or a recommendation to buy or sell. Verdicts can change when new filings land.
Same screen, different answers. Comparison is where the standards disagreeing becomes useful rather than confusing.
Peer screening computing — it will appear here on its own.
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.