Madison Covered Call ETF
$18.280.00 (0.00%)
- 0.92%
- $30M
- +7.7%
- 7.69%
- 0M sh
- $18.28
- low $17.56high $22.40
The ETF.net CVRD Grade
C
Score 52 out of 100
- 21 of 51
Score 52 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B58 out of 100Rank 22 of 51Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C54 out of 100Rank 23 of 46Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D35 out of 100Rank 37 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B57 out of 100Rank 20 of 42Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B57 out of 100Rank 23 of 51
Our read on CVRD
CMadison's take on covered calls puts consistent total return first and income second, the reverse of most option-income funds. Roughly 90 stocks, an active call overlay, and a quarterly paycheck rather than a monthly one.
The Fund seeks consistent total return while secondarily pursuing a high level of income and gains.
Why people hold it
- The mandate is ordered: consistent total return first, high income and gains second. That ranking shapes how much stock upside gets sold off in premium.
- Roughly 90 stocks, actively managed rather than pinned to an index, so the manager sets both the share list and the call overlay on top of it.
- Plain plumbing: a 1940 Act equity fund that owns the shares it writes calls against. No index license, no synthetic wrapper standing between you and the stocks.
- At 0.92% a year, the fee sits close to what actively managed option-income funds typically charge, so the active overlay does not come with a boutique surcharge.
Worth knowing
- A small fund that trades thinly, so spreads can run wider than in the household names of the option-income aisle, and large orders need more care.
- Cheaper competition is thick here: DIVO charges 0.56% and PAPI 0.29% for equity-plus-options income, versus 0.92% for this one.
- Launched in 2023, so the public record behind the manager's option calls is still short compared with the decade-plus veterans of the category.
CVRD Holdings
- Stocks
- 33
- 48%
- 8AMMF0JA0
Sectors
- Technology25.0%
- Financials15.4%
- Health Care10.5%
- Consumer Discretionary9.7%
- Communication9.6%
- Energy7.6%
- Industrials7.0%
- Consumer Staples6.0%
- Real Estate3.5%
- Materials3.1%
- Utilities2.5%
Geography
- United States92.52%
- Ireland3.74%
- Switzerland3.74%
CVRD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
CVRD$10,768
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CVRD |
|---|---|
| Year to date | +4.3% |
| 1 month | −0.6% |
| 3 months | +3.0% |
| 1 year | +7.7% |
| 3 years | +7.6% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CVRD |
|---|---|---|
| 2026 YTD | +4.3% | |
| 2025 | +5.9% | |
| 2024 | +4.9% | |
| 2023 | +5.2% |
CVRD in the news
Category Review
The payout and the result came apart in option-income funds
CVRD Dividends
- 7.69%
- $1.41
- $0.30 per share
- Quarterly
Distribution history
CVRD Risk
- 9.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.27
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −17.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.59
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CVRD Cost
0.92%
CVRD0.92%
- The middle half of Active Option Income funds
- Median 0.95%
21 of the 51 Active Option Income funds charge less.
Other funds in Active Option Income
- BHBTAHorizon Expedition Plus ETFExpense ratio 0.85%1 year return +22.4%
- CBUYWMain BuyWrite ETFExpense ratio 0.99%1 year return +9.0%
- CQUSAVistaShares Target 15 USA Quality Income ETFExpense ratio 0.95%1 year return +7.2%
- COEIOptimized Equity Income ETFExpense ratio 1.02%1 year return —
- CWRTHWorth Charting Options Income ETFExpense ratio 1.02%1 year return —