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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 (09-18-2026) |
$13.99 |
|---|---|
| Change |
-$0.05
(-0.33%)
|
As at August 31, 2026
As at August 31, 2026
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Legend
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Fund Returns
Inception Return (June 16, 2011): 7.69%
| 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 | -4.51% | -0.01% | 2.05% | 8.91% | 10.33% | 7.62% | 10.01% | 7.14% | 2.20% | 6.39% | 4.45% | 5.21% | 6.25% | 5.92% |
| Benchmark | -3.93% | 2.68% | 3.17% | 13.20% | 14.24% | 8.94% | 11.90% | 8.69% | 4.26% | 8.62% | 4.50% | 5.18% | 5.81% | 4.63% |
| Category Average | -4.61% | -0.08% | 0.05% | 8.69% | 7.67% | 4.40% | 7.79% | 4.75% | 0.92% | 4.94% | 2.85% | 3.78% | 4.39% | 3.73% |
| Category Rank | 69 / 139 | 89 / 139 | 7 / 139 | 70 / 139 | 13 / 138 | 4 / 134 | 22 / 132 | 12 / 127 | 29 / 125 | 28 / 124 | 18 / 117 | 25 / 103 | 14 / 101 | 13 / 97 |
| Quartile Ranking | 2 | 3 | 1 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Monthly Return
| Return % | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 1.72% | -1.26% | 1.60% | -0.72% | 3.35% | 3.26% | -4.96% | 6.37% | 0.95% | 3.97% | 0.72% | -4.51% |
| Benchmark | 2.37% | -0.49% | 2.55% | -3.40% | 2.15% | 7.41% | -5.81% | 5.83% | 0.79% | 5.07% | 1.73% | -3.93% |
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 | 49.17 |
| US Equity | 24.47 |
| Canadian Equity | 19.07 |
| Cash and Equivalents | 6.09 |
| International Equity | 1.20 |
Sector Allocation
| Name | Percent |
|---|---|
| Real Estate | 75.03 |
| Healthcare | 11.84 |
| Cash and Cash Equivalent | 6.09 |
| Financial Services | 5.01 |
| Other | 2.03 |
Geographic Allocation
| Name | Percent |
|---|---|
| North America | 98.81 |
| Europe | 1.20 |
| Other | -0.01 |
Top Holdings
| Name | Percent |
|---|---|
| Cash and Cash Equivalents | 6.09 |
| RioCan REIT - Units | 6.07 |
| Killam Apartment REIT - Units Cl A | 5.46 |
| Extendicare Inc | 4.86 |
| Granite REIT - Units | 4.58 |
| Chartwell Retirement Residences - Units | 4.23 |
| Boardwalk REIT - Units | 4.23 |
| Canadian Apartment Properties REIT - Units | 4.10 |
| Choice Properties REIT - Units | 4.04 |
| Primaris Real Estate Investment Trst Sr A | 3.83 |
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 | 13.79% | 15.64% | 13.52% |
|---|---|---|---|
| Beta | 0.89 | 0.97 | 0.87 |
| Alpha | 0.00 | -0.02 | 0.02 |
| Rsquared | 0.80% | 0.87% | 0.85% |
| Sharpe | 0.52 | 0.02 | 0.35 |
| Sortino | 0.87 | 0.03 | 0.39 |
| Treynor | 0.08 | 0.00 | 0.05 |
| Tax Efficiency | 78.07% | - | 70.33% |
| Volatility |
|
|
|
Risk Rating
Annualized Key Ratio Period Comparison
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 11.59% | 13.79% | 15.64% | 13.52% |
| Beta | 0.76 | 0.89 | 0.97 | 0.87 |
| Alpha | 0.00 | 0.00 | -0.02 | 0.02 |
| Rsquared | 0.84% | 0.80% | 0.87% | 0.85% |
| Sharpe | 0.71 | 0.52 | 0.02 | 0.35 |
| Sortino | 1.03 | 0.87 | 0.03 | 0.39 |
| Treynor | 0.11 | 0.08 | 0.00 | 0.05 |
| Tax Efficiency | 79.76% | 78.07% | - | 70.33% |
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) | $19 |
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 | 2.27% |
|---|---|
| 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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