No. Mallys shed excessively. As a result, they will leave a lot of pet dander in your home, which is the cause of most pet-related allergies. There will be mountains of fur in the corners of your home just hours after you've vacuumed. Embrace it as one of the few downsides of owning this large, charming dog.
Mals are not part wolf, but there is good reason for the confusion. All dogs are the domesticated descendants of ancient wolves and Malamutes diverged from wolves at the same time as other breeds around the world. However, Mals were an isolated breed up until the late 1800s and, as such, are considered a 'basal breed.' This means Malamutes' genetics are less mixed than most other breeds. As a result, they've maintained some wolf characteristics, such as their appearance, and their strong pack and prey instincts.
Some Mallys love swimming, others will only like wading, while others will take a pass at plunging into the water. Introduce your Mal to swimming slowly. If your Malamute enjoys swimming, it's a great way to get them exercise in hot weather.