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Mackenzie Investments
An actively managed Canadian equity fund: 92 stocks, 99% Canada, unhedged, for 0.5% a year.
Funds of this type differ on a small set of facts. Where this fund sits on each:
Active equity portfolio with a Canada tilt. Canada is the dominant region at 99.0%, and that positioning was the largest geographic influence on results.
Top holding: The Toronto-Dominion Bank 3.5% (broad) · Top sector: Financials 29.8% (broad) · Top region: Canada 99.0% (single-country)
Financials 29.8%·Energy 14.1%·Consumer Staples 14.1%·Materials 11.0%·Industrials 10.9%·Other 7.1%·Other (locked) 13.0%
Canada 99.0%·United States 1.0%
Source: fund provider disclosure.
The management fee was 0.5% a year, or about $50 for every $10,000 held. Trading spreads are separate from this fee. This is the management fee as published by the provider; the total expense ratio can be slightly higher once fund operating costs are added.
Mostly capital gains
The full distribution tax character across 2 years, plus what you keep after tax in a TFSA, RRSP, or non-registered account, is on the Real Yield report card.
See the full tax breakdown →For information only, not tax advice. Tax treatment depends on your account type and personal circumstances; consult a qualified tax professional.
How durable the fund is, and what moved its price.
| Assets | $191M· net assets |
| Listed | 2024· 2 years of history |
| Leverage / overlay | None |
What moved the price
| Ticker | MCLV.TO |
| Exchange | TSX |
| Currency | CAD |
| FX strategy | CAD-unhedged |
| Asset class | Equity |
| Structure | Physical (holds securities) |
| Theme | Broad Market |
| Geography | Canada |
| Provider | Mackenzie Investments |
| Mgmt fee | 0.50% |
Compare MCLV.TO→Backtest it→Rate your portfolio→Real Yield report card→
Prices as of last close · tax character year 2025.
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