Europe’s first actively managed high income Canadian equity ETF
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Dividend growth & reliable income
Canada’s dividend-growth leaders have the ability to generate resilient cash flows across market cycles. The ETF focuses on large-cap companies with durable balance sheets and consistent dividend growth, aiming to deliver high income and long-term capital growth.
Multiple tailwinds for Canada
Canada potentially offers powerful tailwinds for income and growth within our key sector weights: energy backed by global export demand and critical mineral leadership, banks underpinned by robust capital and a pro-business regulatory environment, and REITs trading at deep discounts with foreign investment and rate cuts driving renewed interest.
Proven strategy, new format
The ETF builds on Middlefield’s decades of actively-managed, income-focused expertise, converting a long-standing London-listed investment trust into a more liquid UCITS ETF structure. This evolution gives European investors easier access to Middlefield’s Canadian income strategy.
Canada’s dividend-growth leaders have demonstrated their ability to generate resilient cash flows across market cycles. A Canadian Enhanced Income approach focuses on large-cap companies with durable balance sheets and a track record of consistent dividend growth – supporting both high income generation and long-term capital appreciation.
Canada offers compelling structural advantages for income and growth: energy companies benefit from global export demand and critical mineral leadership, banks are supported by strong capital positions and a pro-business regulatory environment, and REITs – currently trading at deep discounts – are attracting renewed interest amid foreign inflows and the prospect of rate cuts.
Active approach
A Canadian Enhanced Income strategy may benefit from experienced active management – selecting high-quality income-generating assets, managing risk across market cycles, and dynamically adjusting allocations to maximise yield and growth potential.
The Middlefield Canadian Enhanced Income UCITS ETF (MCTP) is actively managed and focuses on high-quality, large-cap, dividend-paying Canadian equities – primarily Energy Producers & Pipelines, Financials, and Real Estate – that demonstrate durable cash flows and consistent dividend growth.
The ETF is constructed by combining a top-down and bottom-up approach for a concentrated portfolio of 30-50 securities. The team identifies themes and sectors with durable structural tailwinds while focusing on businesses with resilient balance sheets and cash flows, disciplined capital allocation, high earnings quality, sound governance, and attractive valuations. Portfolio positioning reflects quality, liquidity, and risk considerations, with sector and position limits in place to mitigate drawdowns. The team continuously monitors portfolio risk and actively engages with company management teams and sell-side research to gain further insights and optimise positioning.
Dean Orrico | President and Chief Executive Officer
Mr. Orrico joined Middlefield in 1996 and is President and Chief Executive Officer. He is responsible for overseeing the firm’s asset management business and has 30 years of investment experience. Dean also serves as lead manager of Middlefield’s award-winning real estate mandates and London Stock Exchange-listed funds. He holds a Bachelor of Commerce degree from the Rotman School of Management at the University of Toronto and an MBA from the Schulich School of Business at York University.
Robert F. Lauzon | Chief Investment Officer
Mr. Lauzon joined Middlefield in 2002 and is Chief Investment Officer and Managing Director. He has managing equity income portfolios for more than 20 years and is lead manager on a number of Middlefield’s funds, including our flagship Income Plus Class and other award-winning mandates. Rob holds an Honours Bachelor of Business Administration from Wilfrid Laurier University, an MBA from the Rotman School of Management at the University of Toronto, and is a Chartered Financial Analyst (CFA) charterholder.
Middlefield Canadian Enhanced Income UCITS ETF (MCTP) is Europe’s first actively managed Canadian equity income ETF. The fund is focused on large-cap, high-quality companies in Energy Production, Pipelines, Financials, and Real Estate sectors. The ETF primarily invests in companies within our key sector weights with a proven track record of growing dividends, providing unique exposure to Canada’s dividend-growth leaders in a UCITS ETF.
The ETF is managed by Middlefield, an independent equity-income manager with over 45 years of experience running award-winning Canadian and UK dividend strategies.
Middlefield has converted its Canadian Enhanced Income fund into an actively managed ETF, enhancing liquidity, pricing efficiency, and cost-effectiveness while maintaining its proven income-focused strategy. With exposure to Canada’s key sectors, the fund also offers diversification benefits amid growing demand for resource-rich, stable economies. Watch the video to learn more about the transition and what it means for investors.
Key Risks
When you invest in ETFs your capital is fully at risk and may not get back the amount originally invested. Exchange rates can have a positive or negative effect on returns. The value of equities and equity-related securities can be affected by daily stock and currency market movements.
Total dividends paid each month for the fund.
There is currently insufficient data to display the performance history.
No. of holdings: 33
Explore our expert-written monthly fund reports, periodic reviews, and key insights.
Canada beyond the headlines: the case for energy, financials, and real estate
August 2026
Canada has what the world needs
March 2026
Canadian Enhanced Income ETF Quarterly Report | July 2026
Middlefield Canadian Enhances Income ETF Quarterly Report | May 2026
April 2026
Middlefield Enhanced Income ETF Quarterly Report | January 2026
January 2026
Meet the Manager: Income Investing, Active Management & Market Outlook with Dean Orrico
August 2026 |
About Investment Manager
Founded in 1979, Middlefield is a specialist equity-income asset manager with a 45-year track record of delivering dividend-focused investment strategies for instituitional and individual clients. With offices in both Toronto, Canada and London, UK, Middlefield manages strategies across real estate, healthcare, infrastructure, energy, technology and diversified income. The firm has built a reputation for combining deep sector expertise with disciplined active management, aiming to provide investors with resilient income and long-term growth across multiple market cycles.
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