© Copyright 2026 Middlefield Limited. All rights reserved.
This material has been prepared for informational purposes only without regard to any particular user’s investment objectives or financial situation. This communication constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described herein is suitable or appropriate for you. Investment decisions should be made with guidance from a qualified professional. The opinions contained in this report are solely those of Middlefield Limited (“ML”) and are subject to change without notice. ML makes every effort to ensure that the information has been derived from sources believed to reliable, but we cannot represent that they are complete or accurate. However, ML assumes no responsibility for any losses or damages, whether direct or indirect which arise from the use of this information. ML is under no obligation to update the information contained herein. This document is not to be construed as a solicitation, recommendation or offer to buy or sell any security, financial product, or instrument.
Commissions, trailing commissions, management fees, brokerage fees, and expenses may be associated with investment funds. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.
The Morningstar Rating for Funds, commonly known as the star rating, is based on a fund’s past performance relative to its peers. Morningstar rates ETFs and mutual funds from one to five stars, with five being the highest. Ratings are calculated based on a fund’s risk-adjusted return, accounting for variations in monthly performance, with emphasis on downside risk. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund’s 3, 5, and 10-year returns, as available, measured against the 91-day treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars, a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. The Ratings are just one factor to consider when investing, are published for informational purposes only and do not constitute investment advice. The Ratings shown above reflect the performance of Middlefield Canadian Dividend Growers Class, Series F, as of April 30, 2026, and are subject to change monthly. For details about the Morningstar Rating, contact Morningstar at 1-800-5312-4725 or visit www.morningstar.ca. Quartile rankings and peers beaten are calculated by Middlefield Limited based on the fund series-level data Morningstar provides. The CIFSC categories, Star Ratings, and the number of funds in each category for the Middlefield Canadian Dividend Growers Class, Series F, (Canadian Dividend & Income Equity): 3 years 5 stars (380), 5 years 4 stars (351), 10 years 3 stars (274).
© 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
out of 380 Funds
