Madison Aggregate Bond ETF
An active, total return solution with a flexible mandate to opportunistically pursue income and return potential while managing all fixed income risks.
Objective and Strategy
The Aggregate Bond ETF seeks to generate superior long-term risk-adjusted performance by allocating across a diverse set of fixed income sectors and individual securities. The ETF’s portfolio managers strive to add incremental return by making strategic decisions relating to credit risk, sector exposure, and yield curve positioning.
Portfolio Management
Why Madison Aggregate Bond ETF
- Active management of fixed income risks (duration, yield curve, sector, credit).
- Combination of proprietary analysis and third-party research to build and monitor an approved list of high-quality securities.
- Our size affords us institutional pricing scale with the nimbleness to reflect our views in the portfolio without needing to own the entire market.
Key Highlights (As of Tuesday November 19, 2024)
Ticker |
MAGG |
Exchange |
NYSE-Arca |
NAV |
20.27 |
Change($) |
0.04 |
Market Price |
$20.31 |
Premium/Discount |
0.20 |
30-Day Median Bid/Ask Spread |
0.10 |
Expense Ratio |
0.40 |
CUSIP |
557441300 |
Inception Date |
08/28/23 |
Benchmark(s) |
Bloomberg Agg Bond |
Performance
Returns for periods of less than one year are not annualized.
Portfolio Highlights
Top Ten Fund Holdings (As of 11/21/24)
United States Treasury Note/Bond 4.375% 05/15/2034 |
4.35% |
United States Treasury Note/Bond 4.5% 07/15/2026 |
1.92% |
United States Treasury Note/Bond 4% 07/31/2030 |
4.06% |
United States Treasury Note/Bond 4.625% 06/15/2027 |
1.89% |
United States Treasury Note/Bond 4.125% 08/15/2053 |
3.52% |
US BANK MMDA - USBGFS 9 09/01/2037 |
1.74% |
United States Treasury Note/Bond 3.5% 02/15/2033 |
3.45% |
Freddie Mac Pool 4.5% 11/01/2052 |
1.60% |
United States Treasury Note/Bond 4.875% 10/31/2028 |
3.12% |
Fannie Mae Pool 5% 12/01/2052 |
1.46% |
Performance quoted represents past performance. Past performance does not guarantee and is not a reliable indicator of future results. Investment returns and principal values will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than that shown.
Investment returns assume all distributions are reinvested and reflect all applicable fees and expenses. Benchmark index returns assume all distributions are reinvested. Indexes are unmanaged and, therefore, have no fees. Investors cannot invest directly in an index.
Bloomberg U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage backed-securities, asset-backed securities, and corporate securities, with maturities greater than one year.
The net asset value (“NAV”) per share for each fund and class is determined each business day at the close of regular trading on the New York Stock Exchange (typically 4:00 p.m. Eastern Time) by dividing the net assets of each fund and class by the number of shares outstanding of that fund and class.
Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund.
An investment in the fund is subject to risk and there can be no assurance the fund will achieve its investment objective. The risks associated with an investment in the fund can increase during times of significant market volatility. The principal risks of investing in this fund include: interest rate risk, call risk, risk of default, liquidity risk, mortgage-backed security risk, credit risk and repayment/extension risk, non-investment grade security risk and foreign security and emerging market risk. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest-rate risk than short-term bonds. Unlike bonds, bond funds have ongoing fees and expenses. More detailed information regarding these risks can be found in the individual fund’s prospectus.