Madison Investments, an independently-owned investment firm
managing $22.9 billion in assets, today announces the expansion of
its suite of actively-managed ETFs with the launch of the Madison
Covered Call ETF (NYSE: CVRD).
Madison Investments’ ETF suite is designed to help investors
pursue income and capital appreciation by employing
institutional-caliber, risk-controlled investment strategies.
Today’s launch follows the debut of the firm’s first ETF, the
Madison Dividend Value ETF (NYSE: DIVL), which invests in dividend
paying stocks that exhibit above-market yield and growth potential.
Madison Investments plans to expand the offerings in its ETF suite
in the coming weeks with the launch of two active fixed income
products: the Madison Aggregate Bond ETF (NYSE: MAGG) and the
Madison Short Term Strategic Income ETF (NYSE: MSTI).
“Given the current investment environment, there is a palpable
demand for strategies that pursue both stability and performance
differentiated from traditional benchmarks,” says Steven Carl,
Chair of the Executive Committee and Chief Distribution Officer.
“Each active ETF utilizes a disciplined investment process to
pursue consistent income and market-like growth with below-market
risk. We believe these funds are a testament to our legacy of
providing investment strategies that balance return potential with
risk management.”
The Madison Covered Call ETF aims to provide consistent total
return while producing a high level of income and gains from
options premiums and dividends. Employing an active stock and
active covered call writing strategy, CVRD offers a diversified
income stream with potential for capital appreciation. It has an
expense ratio of 0.90%. The Madison Covered Call ETF is managed by
the experienced team of Ray Di Bernardo and Drew Justman, both CFAs
and Portfolio Managers who bring a combined 60 years of industry
experience.
Ray Di Bernardo notes, “Having actively managed covered call
portfolios since 2004, our experience in this space is time-tested.
With CVRD, we are extending our proven strategy to a broader
audience drawn to the ETF format. Our commitment to active
management and a traditional, single-stock covered call approach
offers a compelling strategy for investors searching for
higher-yielding products.”
For more information on the Madison Covered Call ETF and the
Madison Dividend Value ETF, please visit madisonfunds.com/etfs.
About Madison Investments:Madison Investments
is an independent investment management firm based in Madison, WI.
The firm was founded in 1974, has approximately $22.9 billion in
assets under management as of June 30, 2023, and is recognized as
one of the nation’s top investment firms. Madison Investments
offers domestic fixed income, U.S. and international equity,
covered call, multi-asset, insurance, and credit union investment
management strategies.
For more information, please visit:
https://madisoninvestments.com/
Media Contact:Gregory FCA for Madison
Investmentsmadisoninvestments@gregoryfca.com
Disclosures
Before investing in any Madison Fund, you should
carefully consider investment objectives, risks, charges and
expenses. This and other important information is contained in the
Fund’s prospectus and summary
prospectuses and should be read carefully
before investing. Investments are not FDIC-insured, nor are
they deposits of or guaranteed by a bank or any other entity, so
they may lose value. This website is intended for U.S.
residents only. The information on this website does not
constitute an offer to sell, or a solicitation of an offer to
purchase, securities in any jurisdiction to any person to whom it
is not lawful to make such an offer. Past performance is no
guarantee of future results.
“Madison” and/or “Madison Investments” is the unifying tradename
of Madison Investment Holdings, Inc., Madison Asset Management,
LLC, and Madison Investment Advisors, LLC. Madison Funds are
distributed by MFD Distributor, LLC. Madison is registered as an
investment adviser with the U.S. Securities and Exchange
Commission. MFD Distributor, LLC is registered with the U.S.
Securities and Exchange Commission as a broker-dealer and is a
member firm of the Financial Industry Regulatory Authority
(www.finra.org).
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.
Diversification does not assure a profit or protect against
loss in a declining market.
The writer of a covered call option forgoes, during the option’s
life, the opportunity to profit from increases in the market value
of the security covering the call option above the sum of the
premium and the strike price of the call but has retained the risk
of loss should the price of the underlying security decline.
CVRD - 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.
DIVL - 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.
Our expectation is that investors will participate in market
appreciation during bull markets and be protected during bear
markets compared with investors in portfolios holding more
speculative and volatile securities. There is no assurance that
these expectations will be realized.
The firm’s Assets Under Management is calculated as of
6/30/2023. The AUM includes all accounts to which Madison provides
discretionary and non-discretionary advisory services, including
accounts of a third-party adviser where Madison provides
non-discretionary model portfolio services.
Madison ETFs Tru (NYSE:DIVL)
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