Mackenzie Investments vs ShariaPortfolio
Mackenzie Investments and ShariaPortfolio both offer investing - Mackenzie Investments in all of Canada, ShariaPortfolio in 4 provinces. This page lines up 14 listed data points side by side, with 7 differences, so you can see exactly where they part ways before you request quotes.
Built from each provider's listed data · provider data last verified Aug 2026
At a glance
- Mackenzie Investments lists all of Canada; ShariaPortfolio lists 4 provinces.
- Mackenzie Investments uses Mutual Funds; ShariaPortfolio uses Wealth Management.
- Shariah oversight: Mackenzie Investments discloses No Public Review; ShariaPortfolio discloses Third-Party Certified.
- HalalWallet Index: Mackenzie Investments holds a B-; ShariaPortfolio holds a B-.
- On measurable rows, Mackenzie Investments has the better listed value on 1 and ShariaPortfolio on 0.
- They differ on 7 of the 14 data points we list for investing.
No editorial verdict has been written for this pair yet. The side-by-side below is the full data view; where we have written one, you'll find it under Compare.
Mackenzie Investments vs ShariaPortfolio: the full side-by-side
14 data points from each provider's published materials, lined up row by row. They differ on 7.
Mackenzie Investments
Pays us: No. Mackenzie Investments pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
ShariaPortfolio
Pays us: No. ShariaPortfolio pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.14 of 14 rows
Provinces covered
Mackenzie Investments: All of Canada EdgeShariaPortfolio: 4 provinces
Expense ratio
Mackenzie Investments: 2.65% MER (Series A)ShariaPortfolio: Not listedManagement fee
Mackenzie Investments: 1.95% (Series A) / 0.80% (Series F)ShariaPortfolio: Not listedMinimum investment
Mackenzie Investments: $500 initial / $50 subsequentShariaPortfolio: Not listed
Structure
Mackenzie Investments: Mutual FundsShariaPortfolio: Wealth ManagementShariah oversight
Mackenzie Investments: No Public ReviewShariaPortfolio: Third-Party CertifiedShariah board / scholar
Mackenzie Investments: Ratings Intelligence PartnersShariaPortfolio: Third Party CertifiedPublished fatwa / certificate
SameMackenzie Investments: NoShariaPortfolio: NoScreening standard
Mackenzie Investments: Dow Jones Islamic Market World Index screens - Ratings Intelligence fatwa and semi-annual auditsShariaPortfolio: AAOIFI - under 5% impure revenue; interest-bearing debt below 30-33% of market cap; music/cinema/broadcasting excluded
Products listed
Mackenzie Investments: Mackenzie Shariah Global Equity FundShariaPortfolio: Personal Account (Non-Registered), Joint Account (Non-Registered), FHSA - First Home Savings Account, Wealth Management, TFSA - Tax-Free Savings Account, RESP - Registered Education Savings PlanBest for
Mackenzie Investments: Canadian investors who work through a financial advisor or dealer platform and want an actively managed, certified halal global equity fund in familiar mutual fund form - accepting fees above halal ETFs in exchange for advisor-channel convenience.ShariaPortfolio: Investors who have maxed their TFSA, RRSP, and FHSA room - or who want unrestricted access to their money - and still want every dollar managed under AAOIFI screening.Product types
Mackenzie Investments: Mutual FundShariaPortfolio: Not listed
HalalWallet Index grade
SameMackenzie Investments: B-ShariaPortfolio: B-Assets under management
Mackenzie Investments: $32MShariaPortfolio: Not listed
Edge marks the side with the better listed number on measurable rows (lower fee, wider coverage, higher grade). It is not a verdict - a provider can win more rows and still be the wrong fit for you.
Strengths and trade-offs
Mackenzie Investments
- Global equity exposure in a single Shariah-screened mutual fund
- Certified compliance chain: Ratings Intelligence fatwa, semi-annual Shariah audits, and an annually published purification ratio
- Mutual fund format familiar to Canadian advisors and fund platforms, with a $500 minimum
- Series F at 1.12% MER is materially cheaper than Canada's legacy halal mutual fund option
- Available across all 10 Canadian provinces
- Series A MER of 2.65% is steep - comparable halal ETF exposure costs about 0.5%
- Small and young: roughly $32M in net assets (March 2025 statements) and an inception of February 2024
- Shariah oversight is delegated to Ratings Intelligence at the index level - Mackenzie maintains no in-house Shariah board and names no Canadian scholar
ShariaPortfolio
- Full flexibility - no contribution limits or withdrawal restrictions
- Portfolios screened with formal Sharia compliance opinions
- Choice of active portfolio management or a passive halal ETF strategy
- Custody at Fidelity Clearing Canada ULC, a CIRO-regulated custodian in the Fidelity group
- Joint ownership and access for two or more investors
- No tax advantages - gains and income are taxed annually
- Third-party certification rather than an in-house formal Shariah board
- No fees or minimums published - confirm pricing in the initial consultation
- Non-registered, so investment income is taxable
- Third-party certification rather than a formal in-house Shariah board
Products behind the numbers
Where a row shows more than one value, it is because the provider lists several investing products. Each is tagged.
Mackenzie Investments (1)
- Mackenzie Shariah Global Equity Fund
Mackenzie Investments
Pays HalalWallet: No. Mackenzie Investments pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.ShariaPortfolio
Pays HalalWallet: No. ShariaPortfolio pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Not sure which is right? Compare all investing providers.
Browse all Investing optionsHow do Mackenzie Investments and ShariaPortfolio compare for investing?
Mackenzie Investments and ShariaPortfolio both offer investing - Mackenzie Investments in all of Canada, ShariaPortfolio in 4 provinces. This page lines up 14 listed data points side by side, with 7 differences, so you can see exactly where they part ways before you request quotes.
- Mackenzie Investments lists all of Canada; ShariaPortfolio lists 4 provinces.
- Mackenzie Investments uses Mutual Funds; ShariaPortfolio uses Wealth Management.
- Shariah oversight: Mackenzie Investments discloses No Public Review; ShariaPortfolio discloses Third-Party Certified.
Source: HalalWallet (halalwallet.ca)
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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
How to cite this page
Preferred format (HTML):
https://www.halalwallet.ca/compare/mackenzie-investments-vs-shariaportfolio, retrieved 2026-11-14).For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.
What HalalWallet is and is not
Scholars rule; we organize the evidence. HalalWallet is an independent research and comparison site for halal financial products. It is not a lender, bank, broker or adviser, and it is not a fatwa body.
What we do
- We document each product's contract, Shariah oversight, costs and availability, with the date we last checked.
- We show the range of scholarly opinion on contested questions, with sources.
What we do not do
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Where our role ends and who takes over · Who pays HalalWallet · HalalWallet Trust Standard, version 1.0
Before you decide, finish with three checks:
- Confirm current terms and halal compliance directly with the provider. Their quote is final.
- Read the contract structure (Murabaha, Ijara, Musharakah and so on) and any published Shariah board opinion.
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