Separate tickets and 30 minutes to connect to an El Al flight, coming from the US??? Sorry to be the bearer of bad news but there is absolutely no chance of you making this flight.

As this is your first port of entry into Europe/Schengen, you will pass through security and you will have to collect your bags, since you won't be able to interline on separate itineraries with El Al. Regardless of whether your flight from the US arrives on time, that alone will take significantly longer than 30 minutes. You'll then need to check-in again with El Al and go through their security.

Remember, you are not connecting. This is not a connection at Madrid, but rather one flight ending and another beginning, meaning that if you miss the El Al flight (which you certainly will), you will not be protected on a later flight, and the remainder of your itinerary (i.e. the return El Al flight to Madrid) will be automatically cancelled. I suspect that , while you are waiting for your bags, the El Al flight will be backing out of its gate. Since you never checked in, they'll just assume you never bothered to take the flight.

If you booked this through a travel agent you should scold them for booking something which can never work. If you did this yourself, you have learned an expensive lesson, and you should try to change your itinerary to give yourself at least three hours between these flights. You'd actually be much better off booking it as a single ticket, but that may not be possible now. Sorry, but this is a disaster waiting to happen.

Edit: I've just re-read your OP and realised that this is on the return. Forget what I said about the remainder of your ticket being cancelled, but still, 30 minutes is not going to be possible AA-El Al for the reasons above (i.e. can't interline your bags, immigration, etc). Give yourself at least two hours to do this (and at least three on the outbound). Separate tickets are a disaster in situations like this.