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
57.2 M
ASSETS UNDER MGMT
65 bp
EXPENSES
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 +
| BLACKROCK INC | 4.1 % |
| HOME DEPOT INC | 4.0 % |
| AUTOMATIC DATA PROCESSING | 4.0 % |
| HONEYWELL INTERNATIONAL INC | 3.9 % |
| CME GROUP INC | 3.9 % |
| FASTENAL CO | 3.9 % |
| MORGAN STANLEY | 3.7 % |
| TEXAS INSTRUMENTS INC | 3.6 % |
| JPMORGAN CHASE & CO | 3.5 % |
| LOWE'S COS INC | 3.2 % |
Constituent Breakdown
| Number of holdings | 40 |
| Herfindahl-Hirschman Index | 283 |
| Wgt avg mkt cap (mns) | $190,002 |
| Large cap (>$10bn) | 98.7% |
| Mid cap ($2-10bn) | 1.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.2 % |
 |
IRELAND | 3.6 % |
 |
CANADA | 1.6 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.3% | 22.3% | -- | -- | -- | -- | 19.9% | Volatility | 10.5% | 10.7% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.71 | 54% |
| MSCI EAFE | 0.59 | 57% |
| MSCI Emg Mkts | 0.42 | 22% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.58% |
| ADV of underlying (mns) | $20,944 |
Technical Indicators
| Recent close | $21.39 |
| 30d moving avg. | $22.47 |
| Annualized volatility | 11.5% |
| Relative strength (RSI) | 56 |
| Short interest (ETF) | 0.0% |
| 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 |
|---|---|---|---|---|
| DGRO | iShares Core Dividend Growth ETF | 31.3% | -57 bp | +0.6% |
| VYM | Vanguard High Dividend Yield Index ETF | 30.5% | -59 bp | +1.0% |
| MGV | Vanguard Mega Cap Value ETF | 30.3% | -58 bp | +0.7% |
| BGIG | Bahl & Gaynor Income Growth ETF | 29.3% | -20 bp | -0.9% |
| PWV | Invesco Large Cap Value ETF | 28.6% | -10 bp | +1.3% |
| DLN | WisdomTree U.S. LargeCap Dividend Fund | 28.2% | -37 bp | -0.1% |
| DIVB | iShares Core Dividend ETF | 27.8% | -60 bp | +1.9% |
| IWX | iShares Russell Top 200 Value ETF | 27.4% | -45 bp | +0.4% |
| QDIV | Global X S&P 500 Quality Dividend ETF | 27.2% | -45 bp | +1.9% |
| DURA | VanEck Durable High Dividend ETF | 27.0% | -36 bp | +1.8% |
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 12/20/2024
Peer Group Comparison Sample data. Subscribe for access.
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 Rating
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.
ALTAR Score™
DIVL
6.0%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.8%. DIVL's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places DIVL in the 65th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DIVLSELL
U/W
HOLD
O/W
BUY
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 | 41 |
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 | 58.1 | 123.1 |
| Peer Avg. | 67.7 | 31.7 | 99.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .