Mackenzie Investments vs Wealthsimple
Mackenzie Investments and Wealthsimple both offer investing. This page lines up 17 listed data points side by side, with 8 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
- Both are available in all of Canada.
- Mackenzie Investments uses Mutual Funds; Wealthsimple uses Index-based.
- Shariah oversight: Mackenzie Investments discloses No Public Review; Wealthsimple discloses Third-Party Certified.
- HalalWallet Index: Mackenzie Investments holds a B-; Wealthsimple holds a B-.
- On measurable rows, Mackenzie Investments has the better listed value on 0 and Wealthsimple on 2.
- They differ on 8 of the 17 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 Wealthsimple: the full side-by-side
17 data points from each provider's published materials, lined up row by row. They differ on 8.
Mackenzie Investments
Pays us: No. Mackenzie Investments pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Wealthsimple
Pays us: No. Wealthsimple pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.17 of 17 rows
Provinces covered
SameMackenzie Investments: All of CanadaWealthsimple: All of Canada
Expense ratio
Mackenzie Investments: 2.65% MER (Series A)Wealthsimple: 0.50% EdgeManagement fee
Mackenzie Investments: 1.95% (Series A) / 0.80% (Series F)Wealthsimple: Not listedMinimum investment
Mackenzie Investments: $500 initial / $50 subsequentWealthsimple: Not listed
Structure
Mackenzie Investments: Mutual FundsWealthsimple: Index-basedShariah oversight
Mackenzie Investments: No Public ReviewWealthsimple: Third-Party CertifiedShariah board / scholar
SameMackenzie Investments: Ratings Intelligence PartnersWealthsimple: Ratings Intelligence PartnersPublished fatwa / certificate
SameMackenzie Investments: NoWealthsimple: NoScreening standard
Mackenzie Investments: Dow Jones Islamic Market World Index screens - Ratings Intelligence fatwa and semi-annual auditsWealthsimple: Dow Jones Islamic Market screens - certified by Ratings Intelligence Partners
Products listed
Mackenzie Investments: Mackenzie Shariah Global Equity FundWealthsimple: Wealthsimple Shariah World Equity Index ETFBest 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.Wealthsimple: The only Canadian-listed halal ETF - CAD-denominated core holding with no US withholding tax drag in a TFSAProduct types
Mackenzie Investments: Mutual FundWealthsimple: ETFTickers
Mackenzie Investments: Not listedWealthsimple: WSHRHoldings
Mackenzie Investments: Not listedWealthsimple: ~160Focus
Mackenzie Investments: Not listedWealthsimple: Global Developed Markets (CAD-listed)
HalalWallet Index grade
SameMackenzie Investments: B-Wealthsimple: B-Assets under management
Mackenzie Investments: $32MWealthsimple: C$480M Edge
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
Wealthsimple
- Only halal ETF listed in Canada (Cboe Canada, trades in CAD)
- No US withholding tax on distributions in a TFSA/FHSA/RESP
- Global developed-market diversification (~160 holdings, US ~48%)
- Certified by Ratings Intelligence Partners; quarterly purification data published
- 0.50% management fee (MER slightly higher after taxes)
- Low-volatility tilt underweights the mega-cap tech that drives US index returns
- No US large-cap growth concentration - pair with SPUS/MNZL for that exposure
Mackenzie Investments
Pays HalalWallet: No. Mackenzie Investments pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Wealthsimple
Pays HalalWallet: No. Wealthsimple 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 optionsEditorial comparisons
How do Mackenzie Investments and Wealthsimple compare for investing?
Mackenzie Investments and Wealthsimple both offer investing. This page lines up 17 listed data points side by side, with 8 differences, so you can see exactly where they part ways before you request quotes.
- Both are available in all of Canada.
- Mackenzie Investments uses Mutual Funds; Wealthsimple uses Index-based.
- Shariah oversight: Mackenzie Investments discloses No Public Review; Wealthsimple discloses Third-Party Certified.
Source: HalalWallet (halalwallet.ca)
Get an email when rates change - Mackenzie Investments vs Wealthsimple
We'll email you only when Mackenzie Investments or Wealthsimple changes rates, fees, or province availability.
We only email you when something in this comparison actually changes.
Stay Updated
Get halal investment insights and fund launches
No spam ever. Unsubscribe in one click.
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-wealthsimple, 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
- We do not lend, hold money, open accounts or take applications. You apply with the provider.
- We do not issue fatwas or certify any product as halal. Rulings belong to a scholar you trust.
- We do not give personal financial, legal or tax advice.
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.
- Bring your shortlist to a qualified scholar or licensed adviser, so the conversation is about your situation, not the basics.
Spot an error? Report a correction · How we handle corrections