WSHR is the Shariah-screened equity ETF that lists on Cboe Canada. It trades in Canadian dollars. Mackenzie Investments manages it. The published management fee is 0.50%. The index is the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index, about 160 developed-market stocks, weighted by risk so no name sits above about 1%.
That CAD listing is the practical point. You can buy it in a TFSA, FHSA, or RESP without converting to US dollars, and without US dividend withholding on those wrappers. Ratings Intelligence Partners runs the screen. Start on the investing hub and Wealthsimple Trade DIY if you are buying the ticker yourself.
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Published Snapshot
| Item | WSHR |
|---|---|
| Exchange | Cboe Canada |
| Currency | CAD |
| Management fee | 0.50% |
| Holdings | About 160 developed-market stocks |
| Weighting | Quality and low volatility. Cap near 1% per name |
| Screen | Dow Jones Islamic, Ratings Intelligence Partners |
| Manager | Mackenzie Investments |
It is available to buy from the ten provinces on the live product map. This is a ticker, not a managed Manzil account. You still need a brokerage that will take the order.
WSHR vs MNZL vs SPUS
These are three different jobs. Do not treat them as the same fund with a different ticker.
| Fund | Where it lists | What you are buying |
|---|---|---|
| WSHR | Canada, CAD | Developed-market quality / low vol, about 160 names, 0.50% fee |
| MNZL | Nasdaq, USD | Broad US halal, about 480 names, 0.40% expense ratio |
| SPUS | NYSE, USD | S&P 500 Shariah, about 210 US large caps, 0.45% expense ratio |
MNZL and SPUS are US-listed. Inside a Canadian TFSA you still deal with USD conversion and US dividend withholding you usually cannot recover. That is the US-listed halal ETFs in a TFSA problem. WSHR is built to skip that pair of frictions. It is also a narrower, lower-volatility book. You give up some of the US mega-cap concentration you get in SPUS.
HLAL vs MNZL is a US-listed comparison. Use HLAL vs MNZL for that. WSHR is the CAD-listed option.
Where It Fits a Canadian Account
- TFSA: CAD, no US withholding on the wrapper. This is the cleanest use
- FHSA or RESP: same CAD listing benefit
- RRSP: still fine, though an RRSP already treats some US-listed dividends more kindly under the treaty. Confirm with an accountant
- Non-registered: gains and distributions are taxable. Fill registered room first
If you want someone else to pick the funds, that is Manzil or ShariaPortfolio, not WSHR. WSHR is for people who will place the trade.
How to Buy It
Open a CAD TFSA at a broker that lists Cboe Canada names. Search WSHR. Buy it in Canadian dollars. You do not need Norbert's Gambit for this ticker. That trick is for US-listed funds. See Norbert's Gambit only if you are still buying SPUS or HLAL.
One fund is not a whole portfolio. WSHR is quality and low volatility, not the full developed market. If you also want US mega-caps or sukuk, that is a second decision. See halal sukuk and fixed income for SPSK and the USD frictions.
What to Check Before You Buy
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- The current management fee and any trailing commission your dealer still takes
- Holdings and the 1% cap, so you know this is not an S&P 500 clone
- Whether your broker lists WSHR as a CAD ticker with no USD conversion
- Purification. Use the fund's current figures, not a blog number from last quarter
Mackenzie also runs the Mackenzie Shariah Global Equity Fund. That is a mutual fund, not this ETF. Do not mix the two on the same trade ticket.
Frequently Asked Questions
Is there a Shariah ETF listed in Canada?
Yes. WSHR lists on Cboe Canada in CAD. Mackenzie manages it. The published management fee is 0.50%.
Is WSHR cheaper than MNZL?
No on the published fee. MNZL lists a 0.40% expense ratio. WSHR lists 0.50%. The reason to use WSHR is CAD listing and TFSA withholding, not a lower MER.
Can I hold WSHR in a TFSA?
Yes. That is the main use. You buy it in CAD. You do not take the US withholding haircut that hits SPUS or HLAL inside a TFSA.
Does WSHR hold Canadian banks?
It tracks a Dow Jones Islamic developed-markets quality and low-volatility index. Banks that fail the screen stay out. Read the current holdings. Do not assume a Canadian index.
Should I use WSHR or a Manzil TFSA?
WSHR if you want one CAD ticker. Manzil if you want Corex to run a screened portfolio for you in every province and territory. See Manzil vs DIY.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
If you want a Shariah equity ETF that lives on a Canadian exchange, WSHR is the published ticker: CAD, 0.50%, about 160 names. Buy it in a TFSA if that is the account you are filling. Compare funds on the investing hub.
