Madison Dividend Value ETF
An active income solution that employs a relative yield and 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 $1 billion. The ETF’s portfolio managers will identify investment opportunities by screening for companies that generally have a dividend yield greater than the S&P 500 Index, a strong balance sheet, and a dividend that has been maintained and which they believe is likely to increase.
Portfolio Management
Why Madison Dividend Value ETF
- Relative yield valuation discipline favors stocks with relative dividend yields that fall within the top 25% of their historic range to capture above-market yield and growth potential.
- Invests in high-quality companies with strong balance sheets and durable competitive advantages.
- Long-tenured management.
Key Highlights (As of Thursday April 25, 2024)
Ticker |
DIVL |
Exchange |
NYSE-Arca |
NAV |
20.16 |
Change($) |
-0.15 |
Market Price |
$20.17 |
Premium/Discount |
0.06 |
30-Day Median Bid/Ask Spread |
0.19 |
Expense Ratio |
0.65 |
CUSIP |
557441508 |
Inception Date |
08/14/23 |
Benchmark(s) |
Russell 1000 ValueLipper Equity Income |
Performance
Returns for periods of less than one year are not annualized.
Portfolio Highlights
Top Ten Fund Holdings (As of 04/29/24)
Fastenal Co |
4.14% |
Morgan Stanley |
3.67% |
EOG Resources Inc |
4.10% |
Texas Instruments Inc |
3.65% |
NextEra Energy Inc |
3.89% |
Bank of America Corp |
3.59% |
AbbVie Inc |
3.68% |
CME Group Inc |
3.59% |
Automatic Data Processing Inc |
3.67% |
Medtronic PLC |
3.57% |
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.
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.
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 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 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.