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Middlefield Real Estate Dividend Class Series A
Real Estate Equity
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FundGrade A
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FundGrade A+® Rating Recipient
2025, 2015
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|
NAVPS (08-14-2026) |
$14.97 |
|---|---|
| Change |
-$0.04
(-0.26%)
|
As at July 31, 2026
As at July 31, 2026
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Legend
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Fund Returns
Inception Return (June 16, 2011): 8.06%
| Row Heading | Return | Annualized Return | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 Mth | 3 Mth | 6 Mth | YTD | 1 Yr | 2 Yr | 3 Yr | 4 Yr | 5 Yr | 6 Yr | 7 Yr | 8 Yr | 9 Yr | 10 Yr | |
| Fund | 0.71% | 5.70% | 10.34% | 14.04% | 18.08% | 12.62% | 11.37% | 7.09% | 3.85% | 6.83% | 5.74% | 6.00% | 7.05% | 6.16% |
| Benchmark | 1.73% | 7.73% | 15.35% | 17.83% | 23.49% | 13.31% | 13.17% | 8.60% | 5.65% | 9.23% | 5.55% | 5.93% | 6.25% | 4.80% |
| Category Average | 1.26% | 5.22% | 10.88% | 13.94% | 15.75% | 8.92% | 8.97% | 4.87% | 2.36% | 5.70% | 3.99% | 4.57% | 4.99% | 3.99% |
| Category Rank | 132 / 139 | 48 / 139 | 98 / 139 | 70 / 139 | 22 / 138 | 5 / 134 | 20 / 132 | 11 / 127 | 29 / 125 | 31 / 124 | 12 / 117 | 28 / 103 | 12 / 101 | 13 / 97 |
| Quartile Ranking | 4 | 2 | 3 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
Monthly Return
| Return % | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 2.21% | 1.72% | -1.26% | 1.60% | -0.72% | 3.35% | 3.26% | -4.96% | 6.37% | 0.95% | 3.97% | 0.71% |
| Benchmark | 3.85% | 2.37% | -0.49% | 2.55% | -3.40% | 2.15% | 7.41% | -5.81% | 5.83% | 0.79% | 5.07% | 1.73% |
Best Monthly Return Since Inception
10.18% (January 2023)
Worst Monthly Return Since Inception
-13.61% (March 2020)
Calendar Return (%)
| Return % | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | -6.36% | 12.82% | 3.29% | 19.85% | -5.36% | 34.26% | -23.15% | 7.32% | 5.35% | 10.63% |
| Benchmark | 1.59% | 1.40% | 2.74% | 15.42% | -11.04% | 30.68% | -19.44% | 10.39% | 10.11% | 4.74% |
| Category Average | 1.20% | 5.38% | 0.16% | 19.52% | -6.93% | 27.77% | -21.53% | 6.48% | 5.17% | 4.31% |
| Quartile Ranking | 4 | 1 | 1 | 3 | 2 | 1 | 3 | 3 | 3 | 1 |
| Category Rank | 95/ 95 | 3/ 97 | 13/ 101 | 63/ 109 | 39/ 119 | 14/ 125 | 88/ 125 | 69/ 127 | 93/ 132 | 9/ 134 |
Best Calendar Return (Last 10 years)
34.26% (2021)
Worst Calendar Return (Last 10 years)
-23.15% (2022)
Asset Allocation
| Name | Percent |
|---|---|
| Income Trust Units | 52.21 |
| US Equity | 23.84 |
| Canadian Equity | 19.40 |
| Cash and Equivalents | 3.38 |
| International Equity | 1.16 |
| Other | 0.01 |
Sector Allocation
| Name | Percent |
|---|---|
| Real Estate | 77.19 |
| Healthcare | 12.76 |
| Financial Services | 4.62 |
| Cash and Cash Equivalent | 3.38 |
| Other | 2.05 |
Geographic Allocation
| Name | Percent |
|---|---|
| North America | 98.84 |
| Europe | 1.16 |
Top Holdings
| Name | Percent |
|---|---|
| RioCan REIT - Units | 6.24 |
| Killam Apartment REIT - Units Cl A | 5.47 |
| Extendicare Inc | 5.44 |
| Granite REIT - Units | 4.80 |
| Chartwell Retirement Residences - Units | 4.48 |
| Boardwalk REIT - Units | 4.32 |
| Canadian Apartment Properties REIT - Units | 4.21 |
| Choice Properties REIT - Units | 4.08 |
| Primaris Real Estate Investment Trst Sr A | 3.95 |
| Cash and Cash Equivalents | 3.38 |
Equity Style
Fixed Income Style
Risk vs Return (3 Yr)
Middlefield Real Estate Dividend Class Series A
Median
Other - Real Estate Equity
3 Yr Annualized
| Standard Deviation | 13.46% | 15.55% | 13.46% |
|---|---|---|---|
| Beta | 0.89 | 0.97 | 0.86 |
| Alpha | 0.00 | -0.01 | 0.02 |
| Rsquared | 0.80% | 0.87% | 0.85% |
| Sharpe | 0.61 | 0.13 | 0.37 |
| Sortino | 1.06 | 0.19 | 0.42 |
| Treynor | 0.09 | 0.02 | 0.06 |
| Tax Efficiency | 80.87% | 42.70% | 71.69% |
| Volatility |
|
|
|
Risk Rating
Annualized Key Ratio Period Comparison
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 10.03% | 13.46% | 15.55% | 13.46% |
| Beta | 0.69 | 0.89 | 0.97 | 0.86 |
| Alpha | 0.02 | 0.00 | -0.01 | 0.02 |
| Rsquared | 0.81% | 0.80% | 0.87% | 0.85% |
| Sharpe | 1.49 | 0.61 | 0.13 | 0.37 |
| Sortino | 2.58 | 1.06 | 0.19 | 0.42 |
| Treynor | 0.21 | 0.09 | 0.02 | 0.06 |
| Tax Efficiency | 88.12% | 80.87% | 42.70% | 71.69% |
Fund Details
| Start Date | June 16, 2011 |
|---|---|
| Instrument Type | Mutual Fund |
| Share Class | Commission Based Advice |
| Legal Status | Corporation |
| Sales Status | Open |
| Currency | CAD |
| Distribution Frequency | Monthly |
| Assets ($mil) | $20 |
Fund Codes
| FundServ Code | Load Code | Sales Status |
|---|---|---|
| MID600 | ||
| MID649 | ||
| MID650 |
Investment Objectives
The Fund’s objectives are to provide a stable level of income and maximize long-term total return. The Fund invests primarily in equities, including real estate investment trusts and common stocks, as well as equity-related and fixed income securities of issuers operating in the real estate sector.
Investment Strategy
In determining which individual investments to include in the portfolio the Manager will consider: a company’s balance sheet, cash flow characteristics, profitability, industry position, future growth potential and management ability. The Investment Advisor may decide to maintain a larger portion of the Fund’s assets in cash and short-term fixed income securities during periods of high market valuations and volatility.
Portfolio Management
| Portfolio Manager |
Middlefield Limited
|
|---|---|
| Sub-Advisor |
- |
Management and Organization
| Fund Manager |
Middlefield Limited (ML) |
|---|---|
| Custodian |
RBC Investor Services Trust (Canada) |
| Registrar |
RBC Investor Services Trust (Canada) |
| Distributor |
Middlefield Limited |
Investment Minimums
| RSP Eligible | Yes |
|---|---|
| PAC Allowed | Yes |
| PAC Initial Investment | 500 |
| PAC Subsequent | 100 |
| SWP Allowed | Yes |
| SWP Min Balance | 1,000 |
| SWP Min Withdrawal | 100 |
Fees
| MER | 2.31% |
|---|---|
| Management Fee | 1.75% |
| Load | Choice of Front or No Load |
| FE Max | 5.00% |
| DSC Max | - |
| Trailer Fee Max (FE) | 1.00% |
| Trailer Fee Max (DSC) | - |
| Trailer Fee Max (NL) | - |
| Trailer Fee Max (LL) | - |
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