Mutual funds are a relatively safe bet for Canadian investors, in that they are professionally managed, and diversified to withstand the vagaries of the market. Like most big Canadian banks, Scotiabank offers an array of mutual funds, ranging from cash equivalent, to balanced, to index funds.
With a minimum investment of $500, Scotiabank mutual funds are somewhat more accessible than funds with higher minimum requirements. And, in terms of management fees, Scotiabank’s offerings are somewhat in the middle of the pack for big bank offerings in Canada.
Scotiabank mutual funds features
Here’s a quick overview of Scotiabank mutual funds’ primary features.
Why You Want It
Low $500 minimum investment + Personalized advice available.
Special Features
- Set up regular contributions to your investment accounts
Features
Minimum Investment
$500
Account Types
- Cash Account
- Margin Account
- Cash Optimizer Investment Account
- RRSP
- TFSA
- RRIF
- RESP
- U.S. Dollar Registered Accounts
- FHSA
Fund Types
- Cash Equivalent
- Income
- Balanced
- Equity
- Index
- Portfolio
# Of Funds Available
3,500
Porfolio Options
- Conservative Build
- Conservative Defend
- Conservative Pay
- Equity Build
- Equity Defend
- Equity Pay
- Moderate Build
- Moderate Defend
- Moderate Pay
- Progressive Build
- Progressive Defend
- Progressive Pay
- Conservative Fixed Income
- Balanced Growth
- Growth
- Income
- Maximum Growth
- Balanced Income
Min MER
0.079%
Max MER
2.32%
Personalized Advice?
Scotiabank mutual funds rating: 4.6 stars
Scotiabank mutual funds have fees similar to those offered by other big banks, and there are relatively few Scotiabank mutual funds available. On the other hand, Scotiabank offers an interesting array of mutual fund portfolio options for investors, and these are available for the full array of investment account types.
If you're just starting out investing,
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of Scotiabank mutual funds
So, what do Scotiabank mutual funds have to offer?
Pros
Available for a full array of account types
While we looked at Scotia iTrade (Scotiabank’s self-directed investing platform) for this, it appears that you can hold Scotiabank mutual funds in the full array of account types, from Scotia iTrade cash accounts through Registered Retirement Investment Funds, and everything in between.
Decent set of portfolio options available
If you’re looking for even more deeply diversified mutual fund options, you can invest in Scotiabank’s portfolio options, which simplify your investing a great deal. Simply find the right portfolio for you, based on your goals and risk tolerance, and let the experts take care of the rest. Scotiabank has 4 classes of mutual fund portfolios, each of which contains a number of different portfolios you can invest in.
Personalized advice is available
If you need help, Scotiabank has investment specialists you can speak with by email, on the phone, or in person at a branch.
Reasonable minimum investment
With a minimum investment of $500, Scotiabank mutual funds are easily accessible for most people who want to start investing. It would be nice if there was no minimum investment requirement, so you could get started right away, but $500 isn’t so bad.
The cons of Scotiabank mutual funds
And the drawbacks for Scotiabank mutual funds?
Cons
Fees are similar to those of other banks
Mutual funds are professionally managed investments, which means you’re going to pay for someone else to do that work for you. This is simply part of life with mutual funds, and the management expense ratios (MERs) vary depending on the fund. Scotiabank’s MERs range from 0.80% to 2.54%, which is pretty standard for funds managed by Canada’s big banks.
Relatively few funds available
Some banks have hundreds of mutual funds you can pick between, while Scotiabank has 97. If you’re deeply interested in tweaking your investments in very specific ways, this may feel limiting to you. If you’re more the sort who prefers to keep it simple, however, Scotiabank’s offerings might be just right.
Scotiabank mutual funds alternatives
We decided to see how Scotiabank mutual funds measured up to those offered by some other big banks in Canada.
 |  |  | |
|---|---|---|---|
| Account | Scotiabank Mutual Funds | BMO Mutual Funds | TD Mutual Funds |
| Genius Rating | |||
| Why You Want It | Low $500 minimum investment + Personalized advice available. | Get expert advice on your investments + Choose from over 125 funds. | Choose from numerous mutual funds + Get help from an advisor or DIY. |
| Minimum Investment | $500 | $500 | $100 |
| Account Types |
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| Fund Types |
|
|
|
| # Of Funds Available | 3,500 | 404 | 133 |
| Porfolio Options |
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Show More | |||
| Open an account See more Scotiabank products Compare | Learn More See more BMO products Compare | Learn More See more TD products Compare |
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FAQ
What types of mutual funds does Scotiabank offer?
Scotiabank offers 6 types of mutual funds, including Cash Equivalent, Income, Balanced, Equity, Index funds, and portfolios. You can read more about these here.
What’s the minimum investment for Scotiabank mutual funds?
The minimum investment for Scotiabank mutual funds is $500. While it would be nice if this minimum were lower so anyone could get started investing in Scotiabank mutual funds right away, $500 is still lower than some minimum investments at other banks.
Are Scotiabank mutual funds free?
They are not free. Mutual funds are professionally managed, and those professionals need to be paid, so there are some fees involved with investing in mutual funds. That said, however, these fees are relatively low, with Scotiabank’s MERs ranging between 0.80% to 2.54%.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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