Investing alternatives
global growth assets Alternatives
6 halal investing providers in Canada that compete with global growth assets, ranked by HalalWallet Index grade, disclosed Shariah oversight, and province coverage. Independent: we are not affiliated with global growth assets or any provider listed here.
Co-Founder & CEO, HalalWallet
Re-ranked automatically when Index grades, oversight, or coverage change in our database.
The closest alternatives to global growth assets for halal investing in Canada are Mackenzie Investments, Wealthsimple and Manzil. Mackenzie's Shariah Global Equity Fund is newer (2024) but carries Ratings Intelligence certification with published semi-annual audits and a purification ratio - stronger ongoing oversight documentation. The highest HalalWallet Index grade among the alternatives belongs to Manzil (A). Where global growth assets still wins: The longest halal track record in Canadian mutual funds - operating continuously since March 2009.
- 6 of 11 investing providers we track in Canada are ranked here; the rest fell below on Index grade, Shariah oversight, or reviews.
- Index grades among the alternatives: Manzil A (global growth assets is not yet graded).
- Manzil and Amana Funds cover provinces global growth assets does not (global growth assets: 10 provinces).
- Product types across the alternatives: Mutual Funds, Index-based, Wealth Management, Actively managed (global growth assets: Mutual Funds).
- Most common reason to look elsewhere: High fees - 2.89% MER on Series A, several times the cost of halal ETFs.
Source: HalalWallet (halalwallet.ca)
Top 6 global growth assets alternatives for 2026
- Not graded
- Coverage
- Coverage: 10 provinces
- Structure
- Structure: Mutual Funds
vs global growth assets: Mackenzie's Shariah Global Equity Fund is newer (2024) but carries Ratings Intelligence certification with published semi-annual audits and a purification ratio - stronger ongoing oversight documentation.
- Not graded
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: 10 provinces
- Structure
- Structure: Index-based
vs global growth assets: WSHR offers certified global halal equity at a 0.50% fee - a fraction of the 2.89% Series A MER - if you're comfortable self-directing.
- Grade A
#3
Manzil
- Shariah oversight
- Shariah oversight: Formal Shariah board
- Coverage
- Coverage: 13 provinces
- Structure
- Structure: Wealth Management
Reaches 3 provinces global growth assets does not list: Northwest Territories, Nunavut, Yukon.
Our take: Manzil is Canada's most established halal mortgage provider, offering AAOIFI-aligned Musharaka (co-ownership) alongside a Murabaha structure.
- Not graded
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: all of Canada
- Structure
- Structure: Actively managed
Reaches 3 provinces global growth assets does not list: Northwest Territories, Nunavut, Yukon.
- Not graded
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: 4 provinces
- Structure
- Structure: Wealth Management
Our take: ShariaPortfolio Canada is the most complete advised halal offering in the country: every registered wrapper from TFSA to IPP managed under AAOIFI rules, fee-only at 0.5-1.5%, with custody at Fidelity Clearing Canada.
- Not graded
#6
SPFunds
- Shariah oversight
- Shariah oversight: Third-party certified
- Coverage
- Coverage: 10 provinces
- Structure
- Structure: Index-based
Our take: SP Funds is the deepest halal fund shelf a Canadian can reach: SPUS and SPSK are the default core and fixed-income building blocks, with REIT, tech and international satellites no Canadian-listed fund matches.
global growth assets vs the alternatives at a glance
| Provider | Index grade | Shariah oversight | Coverage | Structure | Since |
|---|---|---|---|---|---|
| global growth assets(this review) | Not graded | Named scholar | 10 provinces | Mutual Funds | n/a |
| Mackenzie Investments | Not graded | n/a | 10 provinces | Mutual Funds | n/a |
| Wealthsimple | Not graded | Third-party certified | 10 provinces | Index-based | n/a |
| Manzil | A | Formal Shariah board | 13 provinces | Wealth Management | n/a |
| Amana Funds | Not graded | Third-party certified | All of Canada | Actively managed | n/a |
| ShariaPortfolio | Not graded | Third-party certified | 4 provinces | Wealth Management | n/a |
| SPFunds | Not graded | Third-party certified | 10 provinces | Index-based | n/a |
Index grades are HalalWallet's independent scorecard. Oversight and coverage are what each provider publishes, last verified 2026-10-27. Not graded means the category or provider is outside the Index, not a negative mark.
Why people look for a global growth assets alternative
- High fees - 2.89% MER on Series A, several times the cost of halal ETFs
- Fatwas endorse the fund's structure, but a formal, publicly disclosed ongoing Shariah advisory board is not clearly presented
- Sold through dealers who make suitability determinations - not available at discount brokers
- Equity-only, concentrated in large-cap names from a 100-stock index universe
When global growth assets is still the right choice
- The longest halal track record in Canadian mutual funds - operating continuously since March 2009
- Institutional-grade infrastructure: UBS Investment Management Canada as portfolio manager, National Bank Trust as custodian
- Invests directly in (or mirrors) securities from the Dow Jones Islamic Market Titans 100 Index - a globally recognized Shariah-screened universe
- Accessible minimums: $500 initial, $25 subsequent investments
Our verdict on global growth assets: The Global Iman Fund is Canada's longest-running halal mutual fund (since 2009) with UBS-managed portfolios inside the Dow Jones Islamic Market Titans 100 universe. Its 2.79% Series A MER (May 2026 Fund Facts) is the main trade-off for that track record; Shariah governance is documented, with two named boards and a fatwa renewed June 17, 2026, published as a scanned document.
Still deciding?
The ranking above is category-wide. For a province-by-province, structure-by-structure view of every provider, use the comparison tool.
Compare halal ETFs with live performance dataHow this ranking works
The pool is every provider with active investing listings in Canada in HalalWallet's database (11 besides global growth assets). Providers our editors have written a direct comparison for appear first; the rest are ordered by live HalalWallet Index grade, then disclosed Shariah oversight (formal board or third-party certification ranks above a named scholar, which ranks above no public review), then Google rating. Nothing here is paid placement. See our methodology and how Index grades are computed.
Frequently asked questions
What is the best alternative to global growth assets?
Mackenzie Investments ranks first among global growth assets alternatives for halal investing, and coverage of 10 provinces. Mackenzie's Shariah Global Equity Fund is newer (2024) but carries Ratings Intelligence certification with published semi-annual audits and a purification ratio - stronger ongoing oversight documentation. Wealthsimple and Manzil follow. The right pick depends on your province, the contract structure you are comfortable with, and total cost, so get quotes from at least two.
Which global growth assets alternative is available in my province?
global growth assets lists 10 provinces. Manzil adds 3 provinces global growth assets does not list (Northwest Territories, Nunavut, Yukon). Amana Funds adds 3 provinces global growth assets does not list (Northwest Territories, Nunavut, Yukon). Coverage comes from each provider's published province list and changes; confirm before you apply.
How do global growth assets's alternatives differ in approach?
global growth assets is listed as mutual funds. Mackenzie Investments takes the same approach. Other approaches among the alternatives: index-based, wealth management, actively managed. The practical differences are who does the Shariah screening (you, an app, or a manager), what it costs at your balance, and how purification of impermissible income is reported. Match the approach to how hands-on you want to be.
Which alternative has the strongest Shariah oversight?
Wealthsimple (third-party certified), Manzil (formal shariah board), Amana Funds (third-party certified), ShariaPortfolio (third-party certified), SPFunds (third-party certified) disclose either a formal Shariah board or third-party certification. global growth assets itself is classed as named scholar. HalalWallet reports what each provider publishes; we do not certify products.
Should I switch from global growth assets?
Reasons readers look elsewhere: High fees - 2.89% MER on Series A, several times the cost of halal ETFs; Fatwas endorse the fund's structure, but a formal, publicly disclosed ongoing Shariah advisory board is not clearly presented. Reasons to stay: The longest halal track record in Canadian mutual funds - operating continuously since March 2009; Institutional-grade infrastructure: UBS Investment Management Canada as portfolio manager, National Bank Trust as custodian. Switching mid-contract can trigger payoff terms and new closing costs, so compare the total cost of finishing with global growth assets against a new contract elsewhere, and check the early-payoff clause first.
How to use this comparison: Scholars rule; we organize the evidence. HalalWallet is an independent educational comparison platform - by design, we do not issue fatwas or provide financial, legal, or tax advice. We do the research homework so your final checks are quick and personal. Where our role ends and who takes over.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-01