Madison Covered Call ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About CVRD
TheFund will seek to achieve its objectives by (1) investing in common stocks of equity securities that pay dividends and (2) writing(i.e., selling) covered call options on a substantial portion of its portfolio of securities. Undernormal market conditions, the Fund will invest at least 80% of its net assets (including any borrowings for investment purposes)in equity securities of companies, including other investment companies. The Fund invests, under normal market conditions, ina diversified portfolio of common stocks of large- and mid-capitalization issuers that, in the view of the Fund’s investmentadvisor, Madison Asset Management LLC (“Madison” or the “Advisor”), sell at a reasonable price in relationto their long-term earnings growth rates, exhibit a high degree of financial strength and are well-positioned competitively. TidalInvestments LLC (“Tidal” or the “Subadvisor”) provides advisory services to the Fund by, among other things,trading portfolio securities and performing related services, providing tax optimization services and assists in basket creation,reporting and monitoring, portfolio compliance monitoring and reporting. The Fund will invest in growth stocks, value stocks orstocks that exhibit both style designations. TheFund will invest at least 65% of its net assets in common stocks of large capitalization issuers that meet the Advisor’sinvestment criteria, which the Advisor generally considers to be stocks with a market capitalization similar to those companiesin the S&P 500 Index®. The Fund may invest the remainder of its common stock investments in companies thatmeet the Advisor’s selection criteria but whose market capitalization is considered to be “mid-cap,” which theAdvisor generally considers to be stocks with a market capitalization similar to those companies in the Russell Midcap® Index. TheFund will generally maintain a “sector neutral” approach relative to the S&P 500 Index’s Global IndustryClassification Standard (GICS) sector weightings. In addition, the Fund may invest up to 15% of its net assets in foreign securities,including American Depository Receipts (ADRs) and emerging market securities. The Fund will generally hold 30-60 individual equityand investment company securities. This reflects Madison’s belief that the Fund should be invested in Madison’s topinvestment ideas, and that focusing on Madison’s highest conviction investment ideas is the best way to achieve the Fund’sinvestment objective. Inaddition to investing in common stock that pay a regular dividend, the Fund will simultaneously write covered call options ona substantial portion of the common stocks in its portfolio. Ingeneral, an option contract is an agreement between a buyer and a seller that gives the purchaser of the option the right (butnot the obligation) to purchase or sell the underlying asset at a specified price (the “strike price”) within a specifiedtime period (the “expiration date”). A call option gives the purchaser of the option the right to buy, and obligatesthe seller (i.e., the Fund) to sell, the underlying security at the exercise price before the expiration date. In exchange forwriting a call option on an underlying portfolio security, the Fund receives income, in the form of a premium, from the optionbuyer. The Fund’s covered call options help to partially offset the effect of a price decline of the portfolio securitiesof the Fund through means of the premiums received by the Fund. At the same time, because the Fund must be prepared to deliverthe underlying security in return for the strike price, even if its current value is greater, the Fund gives up some ability toparticipate in the underlying security price increases. The Fund employs a “covered call” option strategy meaningthe option written by the Fund is a call option on a portfolio security that the Fund invests in. The extent of option writingactivity will depend upon market conditions and the Advisor’s ongoing assessment of the attractiveness of writing call optionson the Fund’s stock holdings. Inaddition to its covered call option strategy, the Fund may invest up to 20% of its net assets in an option strategy that includesthe writing of put options on certain of the common stocks in the Fund’s portfolio. A put option gives the purchaser ofthe option the right to sell, and the writer (i.e., the Fund) of the option the obligation to buy, the underlying security duringthe option period at the strike price. To seek to offset some of the risk of a larger potential decline in the event the overallstock market has a sizable short-term or intermediate-term decline, the Fund may, to a limited extent (not more than 2% of itstotal assets) purchase put options or put option debit spreads (where another put option at a lower strike price is sold to offsetthe cost of the first put option) on broad-based securities indices (such as the S&P 500® Index, S&P MidCap400® Index or other indices deemed suitable) or certain ETFs that trade like common stocks but represent such marketindices. To seek to offset some of the risk of a larger potential decline in an individual holding due to a binary short-termcompany specific event, the Fund may, to a limited extent (not more than 2% of its total assets) purchase put options on individualequity holdings. TheFund’s investment strategy reflects Madison’s general “Participate and Protect®” investmentphilosophy. Madison’s expectation is that investors in the Fund will participate near fully in market appreciation duringbull markets and experience something less than full participation during bear markets compared with investors in portfolios holdingmore speculative and volatile securities. Therefore, the Fund’s investment philosophy is intended to represent a conservativeinvestment strategy. There is no assurance that Madison’s expectations regarding this investment strategy will be realized.
CVRD News
- How Madison Covered Call Etf (CVRD) Affects Rotational Strategy Timing
- (CVRD) and the Role of Price-Sensitive Allocations
- Short Interest in Madison Covered Call ETF (NYSEARCA:CVRD) Declines By 32.6%
- Responsive Playbooks and the CVRD Inflection
- Responsive Playbooks and the CVRD Inflection
- Understanding the Setup: (CVRD) and Scalable Risk
- The Technical Signals Behind (CVRD) That Institutions Follow
Data for CVRD is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.