Difference Between Malt and Shake. Main Difference – Malt vs Shake. Malts and shakes are two of the most popular frozen drinks, loved by everybody. Shake or milkshake is a thoroughly shaken or blended drink made of milk, a flavoring syrup, and often ice cream. Malts are made by adding malt powder to milkshakes. Therefore, the main difference between malt and shake is the addition of malt powder; milkshakes do not contain malt powder, but malts do.