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Middlefield Healthcare Dividend Fund Series A

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Health Care Equity

FundGrade B Click for more information on Fundata’s FundGrade

FundGrade B

Click for more information on Fundata’s FundGrade.

Fundata ESG GradeA Click for more information on Fundata’s ESG Grade

Fundata ESG Grade A

Click for more information on Fundata’s ESG Grade.

NAVPS
(08-12-2025) 		$15.31
Change
$0.06 (0.38%)

As at July 31, 2025

As at July 31, 2025

As at July 31, 2025

Period
Created with Highcharts 10.3.3Jan 2015Oct 2015Jul 2016Apr 2017Jan 2018Oct 2018Jul 2019Apr 2020Jan 2021Oct 2021Jul 2022Apr 2023Jan 2024Oct 2024Jul 2025Oct 2022Jan 2023Jul 2023Oct 2023Apr 2024Jul 2024Jan 2025Apr 2025Jan 2015Jul 2016Jan 2018Jul 2019Jan 2021Jul 2022Jan 2024$10,000$15,000$20,000$25,000$30,000$9,000$11,000$12,000$13,000Period

Legend

Middlefield Healthcare Dividend Fund Series A

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Fund Returns

Inception Return (October 23, 2014): 8.08%

Fund Returns
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 -1.95% -5.18% -11.84% -5.73% -8.19% 2.66% 3.29% 3.14% 4.41% 6.34% 5.56% 6.56% 5.87% 5.95%
Benchmark -0.60% -3.19% -10.50% -4.55% -9.05% 3.48% 4.47% 2.30% 4.43% 7.34% 6.87% 8.29% 7.49% 6.34%
Category Average - - - - - - - - - - - - - -
Category Rank 39 / 51 36 / 51 13 / 50 13 / 50 8 / 50 11 / 48 9 / 41 5 / 39 10 / 38 7 / 35 10 / 34 12 / 31 12 / 29 2 / 25
Quartile Ranking 4 3 2 2 1 1 1 1 2 1 2 2 2 1

Monthly Return

Created with Highcharts 10.3.3-10%-5%0%5%10%
Monthly Return
Return % Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul
Fund 3.88% -1.78% -1.18% 0.39% -3.78% 6.93% 1.60% -2.85% -5.80% -3.48% 0.20% -1.95%
Benchmark 2.95% -2.25% -1.97% -0.17% -3.25% 6.66% 0.57% -2.81% -5.42% -3.48% 0.91% -0.60%

Best Monthly Return Since Inception

8.97% (January 2015)

Worst Monthly Return Since Inception

-6.40% (February 2021)

Calendar Return (%)

Created with Highcharts 10.3.3-20%-10%0%10%20%30%40%
Calendar Return
Return % 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fund 28.40% -4.85% 8.04% 11.03% 11.71% 7.28% 17.63% 0.90% -0.41% 11.00%
Benchmark 27.73% -8.68% 14.01% 11.82% 17.06% 13.59% 15.28% -1.72% 1.42% 9.95%
Category Average - - - - - - - - - -
Quartile Ranking 1 1 4 1 4 4 2 2 3 1
Category Rank 6/ 25 5/ 29 23/ 29 8/ 32 33/ 34 31/ 35 19/ 38 12/ 40 27/ 41 11/ 48

Best Calendar Return (Last 10 years)

28.40% (2015)

Worst Calendar Return (Last 10 years)

-4.85% (2016)

Asset Allocation

Asset Allocation
Name Percent
US Equity 73.40
International Equity 18.38
Income Trust Units 4.60
Canadian Equity 2.79
Cash and Equivalents 0.83

Sector Allocation

Sector Allocation
Name Percent
Healthcare 92.36
Consumer Services 4.52
Real Estate 2.03
Cash and Cash Equivalent 0.83
Technology 0.28

Geographic Allocation

Geographic Allocation
Name Percent
North America 81.62
Europe 16.51
Asia 1.85
Other 0.02

Top Holdings

Top Holdings
Name Percent
Eli Lilly and Co 7.13
AstraZeneca PLC 5.81
Johnson & Johnson 5.26
Boston Scientific Corp 5.08
Chartwell Retirement Residences - Units 4.60
Abbvie Inc 4.48
Stryker Corp 4.40
Gilead Sciences Inc 4.20
Abbott Laboratories 3.81
Thermo Fisher Scientific Inc 3.76

Equity Style

Market capitalization is large. Equity style is growth.

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Created with Highcharts 10.3.3Risk (Annualized Standard Deviation)ReturnMedian DeviationMedian Return111213141516171819202122-15%-10%-5%0%5%10%

Middlefield Healthcare Dividend Fund Series A

Median

Other - Health Care Equity

3 Yr Annualized

Standard Deviation 10.89% 11.84% 11.27%
Beta 0.96% 1.00% 0.88%
Alpha -0.01% 0.00% 0.00%
Rsquared 0.92% 0.89% 0.86%
Sharpe -0.02% 0.21% 0.41%
Sortino 0.11% 0.25% 0.46%
Treynor 0.00% 0.02% 0.05%
Tax Efficiency 63.47% 71.40% -
Volatility Volatility rating is 6 on a scale of 1 to 10 Volatility rating is 6 on a scale of 1 to 10 Volatility rating is 6 on a scale of 1 to 10

Risk Rating

Rating 6 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 12.24% 10.89% 11.84% 11.27%
Beta 1.06% 0.96% 1.00% 0.88%
Alpha 0.02% -0.01% 0.00% 0.00%
Rsquared 0.96% 0.92% 0.89% 0.86%
Sharpe -0.90% -0.02% 0.21% 0.41%
Sortino -1.16% 0.11% 0.25% 0.46%
Treynor -0.10% 0.00% 0.02% 0.05%
Tax Efficiency - 63.47% 71.40% -

Fundata ESG Metrics

Fundata ESG Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A97.0​97.092.6​92.60%10%20%30%40%50%60%70%80%90%100%

The E, S, and G scores are averaged for each security in the portfolio, to arrive at an ESG score for each security. We take the portfolio weighted average of the ESG scores for each fund and rank them against their peers to arrive at the Fundata ESG Score from 0-100.

Fundata E Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A95.1​95.188.6​88.60%10%20%30%40%50%60%70%80%90%100%

Three scores under the Environment bucket are averaged to yield the Fundata Environment Score for each fund from 0-100: (1) Pollution Prevention, (2) Environmental Transparency, (3) Resource Efficiency.

Fundata S Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A97.3​97.394.5​94.50%10%20%30%40%50%60%70%80%90%100%

Six scores under the Social bucket are averaged to yield the Fundata Social Score for each fund from 0-100. (1) Compensation and Satisfaction, (2) Diversity and Rights, (3) Education and Work Conditions, (4) Community and Charity, (5) Human Rights, (6) Sustainability Integration.

Fundata G Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A97.9​97.990.0​90.00%10%20%30%40%50%60%70%80%90%100%

Three scores under the governance bucket are averaged to yield the Fundata Governance Score for each fund from 0-100: (1) Board Effectiveness, (2) Management Ethics, (3) Disclosure and Accountability.

Powered by OWL Analytics. For more information, please contact Fundata Canada.

View the full methodology

Fund Details

Start Date October 23, 2014
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $51

Fund Codes

FundServ Code Load Code Sales Status
MID325
MID327
MID330

Investment Objectives

The Fund’s objective is to provide holders of units with (i) stable monthly cash distributions, and (ii) long-term total returns through distributions and capital appreciation of the Fund’s portfolio. The Fund’s investment strategy focuses on investing in dividend paying securities of global issuers that derive a significant portion of their revenue or earnings from products or services related to healthcare.

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 strategy follows strong discipline with regard to price paid to acquire portfolio investments.

Portfolio Management

Portfolio Manager

Middlefield Capital Corporation (MCC)

  • Robert Moffat
  • Dean C. Orrico
Sub-Advisor

-

Management and Organization

Fund Manager

Middlefield Limited (ML)
Custodian

RBC Investor Services Trust (Canada)
Registrar

RBC Investor Services Trust (Canada)
Distributor

Middlefield Capital Corporation (MCC)

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 500
PAC Subsequent 100
SWP Allowed Yes
SWP Min Balance 500
SWP Min Withdrawal 100

Fees

MER 2.50%
Management Fee 2.00%
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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