Madison Dividend Value ETF
An active income solution that employs a disciplined, high-quality approach to mitigate risk while pursuing an above-market dividend yield.
Objective and Strategy
The Dividend Value ETF seeks to produce current income while providing an opportunity for capital appreciation. To pursue this objective, the ETF invests in equity securities of companies with a market capitalization of over $2 billion. The ETF’s portfolio managers will identify investment opportunities by screening for companies that have a dividend yield greater than the S&P 500 Index, a strong balance sheet, a dividend that has been maintained and which they believe is likely to increase, and are trading at a reasonable valuation.
Portfolio Management
Why Madison Dividend Value ETF
- Invests in high-quality companies with strong balance sheets and durable competitive advantages.
- Thoughtful risk management through extensive fundamental research and valuation discipline.
- Long-tenured management.
Key Highlights (As of Tuesday November 10, 2026)
Ticker |
DIVL |
Exchange |
NYSE-Arca |
NAV($) |
26.40 |
Change($) |
0.06 |
Market Price($) |
26.40 |
Premium/Discount(%) |
0.01 |
30-Day Median Bid/Ask Spread(%) |
0.19 |
Expense Ratio(%) |
0.65 |
CUSIP |
557441508 |
Inception Date |
08/14/23 |
Benchmark(s) |
S&P 500 Dividend Aristocrats Index |
Performance
| Period | DIVL (NAV) | DIVL (Market) | S&P 500 Dividend Aristocrats TR USD | Russell 1000 Value TR USD |
|---|---|---|---|---|
| 1 Month | 9.14% | 8.88% | 9.40% | 4.38% |
| YTD | 17.23% | 17.15% | 15.81% | 24.50% |
| 1Yr | 19.68% | 19.55% | 19.43% | 28.67% |
| Since Inception | 11.34% | 11.34% | 9.76% | 18.34% |
| Period | DIVL (NAV) | DIVL (Market) | S&P 500 Dividend Aristocrats TR USD | Russell 1000 Value TR USD |
|---|---|---|---|---|
| 3 Month | 0.39% | 0.65% | -3.16% | 2.61% |
| YTD | 7.41% | 7.59% | 5.86% | 19.27% |
| 1Yr | 6.35% | 6.50% | 7.68% | 23.81% |
| Since Inception | 8.59% | 8.67% | 6.92% | 17.26% |
Returns for periods of less than one year are not annualized.
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.
Portfolio Highlights
Top Ten Fund Holdings (As of 11/12/26)
Johnson & Johnson |
5.52% |
NextEra Energy Inc |
3.69% |
Chevron Corp |
4.96% |
Procter & Gamble Co/The |
3.60% |
ExxonMobil Holdings Corp |
4.89% |
Union Pacific Corp |
3.54% |
CME Group Inc |
4.10% |
ConocoPhillips |
3.53% |
AbbVie Inc |
3.94% |
Analog Devices Inc |
3.25% |
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.
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 the fund include: equity risk, growth and value investing risk, special risks associated with dividend paying stocks, option risk, interest rate risk, capital gain realization risks to taxpaying shareholders, and foreign security and emerging market risk. More detailed information regarding these risks can be found in the fund’s prospectus.
Concentrated portfolios may result in a small number of holdings having a large impact on returns, either positively or negatively. As a result, performance may differ substantially from a comparative index, especially over the short term.
Prior to October 30, 3026, the investment objective was to produce current income while providing an opportunity for capital appreciation. To pursue this objective, the ETF invested in equity securities of companies with a market capitalization of over $1 billion. The ETF’s portfolio managers identified investment opportunities by screening for companies that generally had a dividend yield greater than the S&P 500 Index, a strong balance sheet, and a dividend that had been maintained and which they believed was likely to increase.
Prior to October 30, 2026, the primary benchmark was the Russell 1000® Value Index and the secondary benchmark was the Lipper Equity Income Funds Index.
S&P 500 Dividend Aristocrats: measure the performance of S&P 500 companies that have increased dividends every year for the last 25 consecutive years. The Index treats each constituent as a distinct investment opportunity, regardless of its size, by equally weighting each company.
The Russell 1000® Value Index is a large-cap market index which measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.
Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.
The Lipper Equity Income Funds Index tracks the performance of funds that, by prospectus language and portfolio practice, seek relatively high current income and growth of income by investing at least 65% of their portfolio weight in dividend-paying equity securities. The index is composed of the 30 largest funds by asset size in the Lipper investment objective category.
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.