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CVRD ETF — Holdings & Analysis

The Covered Call ETF seeks to provide consistent total return and, secondarily, to produce a high level of income and gains from option premiums and dividends. 0.90% expense ratio, $48M AUM, 87 holdings, inception 2023.

Madison Covered Call ETF (CVRD) ETF — Price, Holdings & Analysis

The Covered Call ETF seeks to provide consistent total return and, secondarily, to produce a high level of income and gains from option premiums and dividends. 0.90% expense ratio, $48M AUM, 87 holdings, inception 2023.

ETF Overview

The Covered Call ETF seeks to provide consistent total return and, secondarily, to produce a high level of income and gains from option premiums and dividends. To pursue this objective, the ETF first invests in common stocks of large and midcap companies that we believe are selling at a reasonable price in relation to their long-term growth rate. Then, under normal market conditions, the ETF writes (sells) covered call options on a substantial portion of its portfolio securities
The Covered Call ETF seeks to provide consistent total return and, secondarily, to produce a high level of income and gains from option premiums and dividends. To pursue this objective, the ETF first invests in common stocks of large and midcap companies that we believe are selling at a reasonable price in relation to their long-term growth rate. Then, under normal market conditions, the ETF writes (sells) covered call options on a substantial portion of its portfolio securities Madison Covered Call ETF provides exposure to the equity market. The portfolio is moderately concentrated with 87 holdings. Sector allocation is spread across 11 sectors, with Cash & Others as the largest at 22.4%.

Risk Metrics

The fund holds 87 positions, providing a moderate level of diversification. A beta of 0.00 indicates lower volatility relative to the broader market. The 0.90% expense ratio is above average and will reduce net returns over time. With $48M in assets, the fund may face liquidity constraints and wider bid-ask spreads.

Expense Ratio

0.90%

Top Holdings

Sector Allocation

  • Cash & Others: 22.4%
  • Technology: 16.9%
  • Financial Services: 10.6%
  • Consumer Defensive: 9.5%
  • Energy: 8.8%
  • Consumer Cyclical: 8.8%
  • Healthcare: 7.1%
  • Communication Services: 6.0%
  • Utilities: 4.3%
  • Real Estate: 3.1%
  • Industrials: 2.6%
  • United States: 71.5%
  • Other: 22.1%
  • Switzerland: 3.3%
  • Ireland: 3.1%

Dividend Yield

0.00%
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Risk Metrics

  • Beta: 0.00

Questions & Answers

What is Madison Covered Call ETF (CVRD)?

The Covered Call ETF seeks to provide consistent total return and, secondarily, to produce a high level of income and gains from option premiums and dividends. To pursue this objective, the ETF first invests in common stocks of large and midcap compa It holds 87 securities. With $48M in assets under management, it is a funds in its category.

What is the expense ratio for CVRD?

Madison Covered Call ETF has an expense ratio of 0.90%, which is considered higher than average for equity ETFs. This means for every $10,000 invested, annual fees would be approximately $90. Lower expense ratios generally lead to better long-term returns, all else being equal.

What are the top holdings in CVRD?

The three largest positions in Madison Covered Call ETF are The AES Corp (AES, 5.1%), Danaher Corp (DHR, 4.2%), Microchip Technology Inc (MCHP, 4.1%). Together these top three holdings represent 13.4% of the fund, out of 87 total positions. The fund is relatively diversified across its holdings.

What sectors does CVRD invest in?

Madison Covered Call ETF allocates across 11 sectors. The largest sector exposures are Cash & Others (22.4%), Technology (16.9%), Financial Services (10.6%). The sector allocation provides broad market exposure across multiple industries.

How long has CVRD been around?

Madison Covered Call ETF was launched in 2023, making it 3 years old. It is a relatively newer fund with a shorter track record. It is managed by Madison Funds.