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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 (08-04-2026) |
$15.15 |
|---|---|
| Change |
-$0.07
(-0.45%)
|
As at June 30, 2026
As at June 30, 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 | 3.97% | 11.65% | 13.24% | 13.24% | 17.77% | 17.08% | 11.66% | 8.58% | 4.81% | 7.31% | 5.99% | 5.90% | 6.80% | 6.68% |
| Benchmark | 5.07% | 12.07% | 15.83% | 15.83% | 21.92% | 16.16% | 13.73% | 10.17% | 6.32% | 9.16% | 5.45% | 5.65% | 5.80% | 5.16% |
| Category Average | 3.44% | 10.77% | 12.52% | 12.52% | 14.02% | 12.12% | 9.19% | 6.31% | 2.99% | 5.95% | 3.98% | 4.41% | 4.69% | 4.33% |
| Category Rank | 49 / 139 | 39 / 139 | 45 / 139 | 45 / 139 | 13 / 138 | 5 / 133 | 22 / 132 | 11 / 127 | 19 / 125 | 27 / 123 | 11 / 117 | 26 / 103 | 11 / 101 | 9 / 95 |
| Quartile Ranking | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
Monthly Return
| Return % | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 0.44% | 2.21% | 1.72% | -1.26% | 1.60% | -0.72% | 3.35% | 3.26% | -4.96% | 6.37% | 0.95% | 3.97% |
| Benchmark | 0.44% | 3.85% | 2.37% | -0.49% | 2.55% | -3.40% | 2.15% | 7.41% | -5.81% | 5.83% | 0.79% | 5.07% |
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 | 53.90 |
| US Equity | 23.68 |
| Canadian Equity | 19.28 |
| Cash and Equivalents | 2.08 |
| International Equity | 1.06 |
Sector Allocation
| Name | Percent |
|---|---|
| Real Estate | 78.64 |
| Healthcare | 12.69 |
| Financial Services | 4.41 |
| Cash and Cash Equivalent | 2.08 |
| Other | 2.18 |
Geographic Allocation
| Name | Percent |
|---|---|
| North America | 98.94 |
| Europe | 1.06 |
Top Holdings
| Name | Percent |
|---|---|
| RioCan REIT - Units | 6.43 |
| Killam Apartment REIT - Units Cl A | 5.50 |
| Extendicare Inc | 5.42 |
| Granite REIT - Units | 5.06 |
| Chartwell Retirement Residences - Units | 4.46 |
| Canadian Apartment Properties REIT - Units | 4.27 |
| Boardwalk REIT - Units | 4.25 |
| Choice Properties REIT - Units | 4.21 |
| Primaris Real Estate Investment Trst Sr A | 3.87 |
| Welltower Inc | 3.32 |
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% | 15.71% | 13.56% |
|---|---|---|---|
| Beta | 0.88 | 0.97 | 0.87 |
| Alpha | 0.00 | -0.01 | 0.02 |
| Rsquared | 0.79% | 0.87% | 0.85% |
| Sharpe | 0.63 | 0.19 | 0.40 |
| Sortino | 1.10 | 0.27 | 0.47 |
| Treynor | 0.10 | 0.03 | 0.06 |
| Tax Efficiency | 81.21% | 55.89% | 73.75% |
| Volatility |
|
|
|
Risk Rating
Annualized Key Ratio Period Comparison
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 10.05% | 13.46% | 15.71% | 13.56% |
| Beta | 0.70 | 0.88 | 0.97 | 0.87 |
| Alpha | 0.02 | 0.00 | -0.01 | 0.02 |
| Rsquared | 0.82% | 0.79% | 0.87% | 0.85% |
| Sharpe | 1.45 | 0.63 | 0.19 | 0.40 |
| Sortino | 2.53 | 1.10 | 0.27 | 0.47 |
| Treynor | 0.21 | 0.10 | 0.03 | 0.06 |
| Tax Efficiency | 87.87% | 81.21% | 55.89% | 73.75% |
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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