High-conviction ETFs extend Madison’s time-tested, disciplined investment process to Canadian investors
Madison Investments (Canada) Ltd., a subsidiary of Madison Investment Holdings, Inc. (“Madison Investments”), today announces the launch of two actively-managed exchange-traded funds (each, an “ETF” and collectively, the “ETFs”): Madison US Mid Cap ETF (TSX: MMID) and Madison US Large Cap ETF (TSX: MLRG). Each ETF has closed its initial offering of units and will commence trading today at 12:00 p.m. ET on the Toronto Stock Exchange under their respective ticker symbols. Units of the ETFs are denominated in Canadian dollars.
The launch marks the firm’s entry into the Canadian ETF market, with both ETFs designed to provide Canadian investors with access to Madison Investments’ research-intensive, bottom-up investment approach focused on long-term growth and capital protection. Madison Investments (Canada) Ltd. has appointed its affiliate, Madison Asset Management, LLC (“MAM”), as sub-advisor to the ETFs.
“As a firm with longstanding relationships in both Canada and the US, Madison Investments has always strived to deliver our actively-managed, risk-conscious investment strategies in a way that works best for our clients,” said Steven Carl, Chair of the Executive Committee at Madison Investments. “The launch of ETFs in Canada represents an important milestone for our firm and reinforces our commitment to serving Canadian investors with the same disciplined investment approach that has guided Madison Investments for decades.”
Madison US Mid Cap ETF (TSX: MMID) seeks long-term capital appreciation by investing primarily in or gaining exposure to equity securities of medium-capitalization companies located in the United States using a bottom-up fundamental analysis approach. MMID is built on Madison Investments’ existing US Mid Cap Equity strategy and is managed by MAM portfolio advisers Haruki Toyama, Andy Romanowich, and Rich Eisinger. The strategy is grounded in a consistent and disciplined investment process that has been time-tested across multiple market cycles. It focuses on high-quality companies with durable growth characteristics, supported by rigorous business model analysis and valuation discipline. The US Mid Cap Equity strategy defines mid-cap companies as those with market capitalizations between US$0.5 billion and US$70 billion.
Madison US Large Cap ETF (TSX: MLRG) seeks long-term capital appreciation by investing primarily in common stock of large-capitalization companies located in the United States using a bottom-up fundamental analysis approach. MLRG is built on Madison Investments’ existing US Large Cap Equity strategy and is managed by MAM portfolio advisers Joe Maginot, Haruki Toyama, and Rich Eisinger. The strategy is supported by a disciplined investment process applied consistently over multiple market cycles, focusing on high-quality companies with durable growth characteristics, backed by rigorous business model analysis and valuation discipline.
“At Madison Investments, we’re committed to building and offering risk-conscious strategies that seek to deliver strong long-term returns. Through intense fundamental research, we’ve constructed portfolios that we believe offer exposure to high-quality companies with durable growth characteristics at reasonable valuations,” said Haruki Toyama, Head of Mid Cap & Large Cap Equity and Portfolio Manager at MAM. “MMID and MLRG bring that high-conviction mindset to Canadian investors in an ETF format.”
Guided by its Participate and Protect® philosophy, Madison Investments has delivered risk-conscious investment strategies to clients for decades.
For more information on Madison Investments (Canada) Ltd. and the ETFs, please visit madisoninvestments.ca.
About Madison Investments (Canada) Ltd.
Madison Investments (Canada) Ltd. is the investment fund manager and portfolio manager of the ETFs and is a subsidiary of Madison Investment Holdings, Inc (“MIH”). “Madison” and/or “Madison Investments” is the unifying tradename of MIH, Madison Asset Management, LLC (“MAM”), and Madison Investment Advisors, LLC (“MIA”). Madison Investments is an independent investment management firm based in Madison, Wisconsin, USA. Since 1974, Madison Investments has provided actively managed investment strategies to clients across North America. As of March 31, 2026, Madison Investments has approximately US$28 billion in assets under management, spanning US fixed income, US and international equity, covered call, multi-asset, insurance, and credit union investment management strategies. MAM and MIA are registered as investment advisers with the U.S. Securities and Exchange Commission.
Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). There are risks involved with investing in ETFs. Please read the prospectus and ETF Facts before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions that apply to purchases and sales of ETF units will reduce returns.
Source : Madison Investments (Canada) Ltd.
