Caldwell US Dividend Advantage Fund (the Fund) is a closed-end investment fund. The investment objective of the Fund is to provide the holders of the units with monthly cash distribution and the potential for capital appreciation and enhanced long-term risk adjusted returns. The Fund invests in an actively managed portfolio consisting of primarily of the United States dividend-paying equity securities that exhibit a combination of low current volatility and high profitability. The Fund also invests in Canadian Equities. The Fund invests in a range of sectors, such as consumer discretionary, financials, energy, healthcare, industrials, information technology, materials and real estate. Caldwell Investment Management Ltd. is the manager of the Fund.