(As of 9/30/2025)

Middlefield Real Estate Dividend ETF (MREL)

(Real Estate Equity)
FundGrade A+® Rating recipient
For more information about FundGrade click here
2023
2021




Inception Return
(4/20/2011)
7.66 %
YTD Return 12.44 %
NAVPS
(10/31/2025)
$12.55
Change $0.14 / 1.11 %
Growth of $10,000 (As of September 30, 2025)
MER 1.21 %
Assets ($mil) -
Rank (1Yr) 10/145
Std Dev (3Yr) 15.16 %
Volatility Ranking (3Yr) 9/10
RRSP Eligibility Yes
Load No Load
Max Front End -
Max Back End -
Sales Status Open
 
Objective
Provide unitholders with stable monthly distributions and capital appreciation potential by investing in an actively managed portfolio of global issuetrs operating in, or that derive a significant portion of their revenue or earnings from, products or services related to the real estate sector.
Fund Manager

Middlefield Limited (ML)

Portfolio Manager

Dean C. Orrico, Middlefield Limited

Robert Moffat, Middlefield Limited

Sub-Advisor
-
 
Asset Allocation
(As of September 30, 2025)
Sector Allocation
(As of September 30, 2025)
Geographic Allocation
(As of September 30, 2025)
Top 10 Holdings
NameAssetSectorGeographicPercent
RioCan REIT - UnitsIncome Trust UnitsReal EstateCanada8.00%
Canadian Apartment Properties REIT - UnitsIncome Trust UnitsReal EstateCanada5.72%
Choice Properties REIT - UnitsIncome Trust UnitsReal EstateCanada5.69%
First Capital REIT - UnitsIncome Trust UnitsReal EstateCanada5.56%
Chartwell Retirement Residences - UnitsIncome Trust UnitsHealthcareCanada5.46%
Boardwalk REIT - UnitsIncome Trust UnitsReal EstateCanada5.35%
Granite REIT - UnitsIncome Trust UnitsReal EstateCanada5.17%
Killam Apartment REIT - Units Cl AIncome Trust UnitsReal EstateCanada4.42%
Extendicare IncCanadian EquityHealthcareCanada4.18%
Minto Apartment REIT - UnitsIncome Trust UnitsReal EstateCanada4.07%

Performance Data (As of September 30, 2025)
  Return (%) Annualized Return (%)
Return 1 Mth 3 Mth 6 Mth YTD 1 Yr 3 Yr 5 Yr 10 Yr
Fund 1.91 5.14 9.85 12.44 3.15 11.37 7.61 7.01
Benchmark 2.37 6.78 3.80 6.25 3.33 10.92 8.20 4.86
Quartile Ranking 1 1 1 1 1 1 1 1

Calendar Return (%) 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Fund 7.02 7.88 -21.87 35.39 -3.38 20.36 2.77 10.38 6.09 7.31
Benchmark 10.11 10.39 -19.44 30.68 -11.04 15.42 2.74 1.40 1.59 21.00
Quartile Ranking 2 2 2 1 1 3 1 1 1 4

Website powered by © Fundata Canada Inc.
Mutual Fund Data provided by Fundata. | View Terms and Conditions of Use.
BofA Merill Lynch Indices used with permission.
© 2025 Fundata Canada Inc. All rights reserved. | View Privacy Policy | Contact Us.