DIVL
Madison Dividend Value ETF
DIVL uses an active approach to invest in stocks from around the globe. The fund seeks current income and capital appreciation by targeting stocks with favorable dividend yields that appear undervalued.
Global
EQUITY
Active
MANAGEMENT STYLE
65 bp
EXPENSES
$57.5 M
ASSETS UNDER MGMT
Fund Basics
Fund sponsor | Madison Investment Holdings, Inc. |
Category | Global |
Asset class | Equity |
Website | link... |
Inception date | Aug 15, 2023 |
Assets (mns) | $57 |
Expense ratio | 65 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Monthly |
Taxation | 1099 |
Stock selection | Proprietary |
Weighting | Proprietary |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | No |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
NEXTERA ENERGY GROUP | 4.1 % |
FASTENAL CO | 4.0 % |
TEXAS INSTRUMENTS INC | 4.0 % |
BANK OF AMERICA CORP | 4.0 % |
MORGAN STANLEY | 4.0 % |
AUTOMATIC DATA PROCESSING | 3.9 % |
HONEYWELL INTERNATIONAL INC | 3.9 % |
ABBVIE INC | 3.9 % |
EOG RESOURCES, INC. | 3.8 % |
HOME DEPOT INC | 3.7 % |
Constituent Breakdown
Number of holdings | 37 |
Herfindahl-Hirschman Index | 305 |
Wgt avg mkt cap (mns) | $172,274 |
Large cap (>$10bn) | 100.0% |
Mid cap ($2-10bn) | 0.0% |
Small cap (<$2bn) | 0.0% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 94.0 % | |
IRELAND | 2.6 % | |
SWITZERLAND | 1.9 % | |
CANADA | 1.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 1.4% | -- | -- | -- | -- | -- | 7.9% | Volatility | 10.2% | -- | -- | -- | -- | -- | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.00 | 0% |
MSCI EAFE | 0.00 | 0% |
MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
Avg. volume (000) | 5 |
Turnover | 0.2% |
Avg. Bid/Ask (% of price) | 0.19% |
ADV of underlying (mns) | $43,051 |
Technical Indicators
Recent close | $20.71 |
30d moving avg. | $20.32 |
Annualized volatility | 0.0% |
Relative strength (RSI) | 47 |
Short interest (ETF) | 0.4% |
Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. DIVL |
Expenses vs. DIVL |
ALTAR Score™ vs. DIVL |
---|---|---|---|---|
VYM | Vanguard High Dividend Yield Index ETF | 32.4% | -59 bp | +1.5% |
PWV | Invesco Large Cap Value ETF | 32.1% | -10 bp | +2.3% |
DGRO | iShares Core Dividend Growth ETF | 31.9% | -57 bp | +0.8% |
MGV | Vanguard Mega Cap Value ETF | 30.7% | -58 bp | +1.0% |
DIVB | iShares Core Dividend ETF | 29.9% | -60 bp | +2.1% |
DLN | WisdomTree U.S. LargeCap Dividend Fund | 28.0% | -37 bp | +0.4% |
BGIG | Bahl & Gaynor Income Growth ETF | 27.8% | -20 bp | -0.4% |
IWX | iShares Russell Top 200 Value ETF | 27.2% | -45 bp | +0.8% |
SCHD | Schwab US Dividend Equity ETF | 27.1% | -59 bp | +3.7% |
VIG | Vanguard Dividend Appreciation ETF | 27.1% | -59 bp | +0.1% |
Risk and Returns: DIVL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DIVL
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
DIVL
5.7%
Cat. Avg
4.0%
Fund Category: Global
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 5.7% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. DIVL's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places DIVL in the 63rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DIVL
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
Peer Group | Active Global Equity ETFs |
# of ETFs | 118 |
Avg. Expense Ratio | 73.5 bp |
Std. Deviation | 29.8 bp |
DIVL (65 bp) Percentile rank | 39 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
DIVL | 65.0 | 18.5 | 83.5 |
Peer Avg. | 77.1 | 49.6 | 126.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .