Continue to site >
Trending ETFs

Name

As of 06/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$26.47

$195 M

1.89%

$0.51

0.91%

Vitals

YTD Return

-0.8%

1 yr return

4.1%

3 Yr Avg Return

0.7%

5 Yr Avg Return

6.3%

Net Assets

$195 M

Holdings in Top 10

36.1%

52 WEEK LOW AND HIGH

$26.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 31.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$26.47

$195 M

1.89%

$0.51

0.91%

BHBFX - Profile

Distributions

  • YTD Total Return -0.8%
  • 3 Yr Annualized Total Return 0.7%
  • 5 Yr Annualized Total Return 6.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.50%
DIVIDENDS
  • Dividend Yield 1.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Madison Dividend Income Fund
  • Fund Family Name
    MADISONMUT
  • Inception Date
    Feb 28, 2022
  • Shares Outstanding
    N/A
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Brown

Fund Description

The Fund seeks to achieve its investment objective by investing in equity securities of companies with a market capitalization of over $1 billion and a history of paying dividends, with the ability to increase dividends over time. Under normal market conditions, at least 80% of the Fund’s net assets (including borrowings for investment purposes) will be invested in dividend paying equity securities. The Fund's investment adviser, Madison Asset Management, LLC ("Madison"), will identify investment opportunities by screening for companies that generally have the following characteristics: (i) a dividend yield of at least 100% of the market dividend yield (for this purpose, the “market” is the S&P 500); (ii) a strong balance sheet; (iii) a dividend that has been maintained and which is likely to increase; (iv) trade on the high side of the company’s historical relative dividend yield, due to issues which Madison views as temporary; and (v) other compelling valuation characteristics. Under normal market conditions, the Fund expects to be fully invested in equity securities, but will maintain the flexibility to hold up to 20% of the Fund’s assets in investment grade fixed income securities when warranted in Madison's discretion. The Fund may also invest up to 25% of its common stock allocation in foreign securities (including American Depositary Receipts ("ADRs") and emerging market securities). To the extent invested in common stocks, the Fund generally invests in 30-60 companies at any given time. This reflects Madison's belief that your money should be invested in Madison's top investment ideas, and that focusing on Madison's highest conviction investment ideas is the best way to achieve the Fund’s investment objective.
Madison follows a rigorous three-step process when evaluating companies pursuant to which Madison considers (1) the business model, (2) the management team, and (3) the valuation of each potential investment. When evaluating the business model, Madison looks for sustainable competitive advantages, metrics that demonstrate relatively high levels of profitability, stable and growing earnings, and a solid balance sheet. When assessing management, Madison evaluates its operational and capital allocation track records and the nature of its accounting practices. The final step in the process is assessing the proper valuation for the company. Madison strives to purchase securities trading at a discount to their intrinsic
value as determined by discounted cash flows modeling and additional valuation methodologies. Often, Madison finds companies that clear the business model and management team hurdles, but not the valuation hurdle. Those companies are monitored for inclusion at a later date when the price may be more appropriate. Madison seeks to avoid the downside risks associated with overpriced securities.
Madison may sell stocks for a number of reasons, including: (i) the price target Madison has set for stock has been achieved, (ii) the fundamental business prospects for the company have materially changed, or (iii) Madison finds a more attractive alternative. In addition, with regard to dividend paying stocks in particular, Madison may sell a stock that has reduced its dividend to a level that brings the yield on the stock to below the market (S&P 500) dividend yield, but only if the reduction in dividend appears to Madison to be a symptom of fundamental difficulties with the company that are other than temporary in nature.
The Fund’s investment strategy reflects Madison’s general “Participate and Protect®” investment philosophy. Madison’s expectation is that investors in the Fund will participate in market appreciation during bull markets and experience something less than full participation during bear markets compared with investors in portfolios holding more speculative and volatile securities; therefore, this investment philosophy is intended to represent a conservative investment strategy. There is no assurance that Madison’s expectations regarding this investment strategy will be realized.
Although the Fund expects to pursue its investment objective utilizing its principal investment strategies regardless of market conditions, the Fund may invest up to 100% in money market instruments. To the extent the Fund engages in this temporary defensive position, the Fund’s ability to achieve its investment objective may be diminished.
Read More

BHBFX - Performance

Return Ranking - Trailing

Period BHBFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.8% -6.6% 33.3% 97.66%
1 Yr 4.1% -3.7% 46.3% 99.19%
3 Yr 0.7%* -4.7% 30.0% 97.31%
5 Yr 6.3%* -0.2% 44.0% 94.08%
10 Yr 8.1%* 1.1% 24.4% 54.37%

* Annualized

Return Ranking - Calendar

Period BHBFX Return Category Return Low Category Return High Rank in Category (%)
2023 -4.1% -16.9% 46.1% 95.76%
2022 -13.6% -64.7% 4.6% 65.23%
2021 9.8% -44.2% 57.5% 75.61%
2020 4.5% -23.2% 285.0% 15.14%
2019 20.3% -21.4% 48.5% 40.95%

Total Return Ranking - Trailing

Period BHBFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.8% -6.6% 33.3% 97.66%
1 Yr 4.1% -3.7% 46.3% 99.19%
3 Yr 0.7%* -4.7% 30.0% 97.31%
5 Yr 6.3%* -0.2% 44.0% 94.08%
10 Yr 8.1%* 1.1% 24.4% 54.37%

* Annualized

Total Return Ranking - Calendar

Period BHBFX Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -15.9% 46.7% 96.93%
2022 -5.4% -42.0% 8.5% 49.77%
2021 22.8% 3.6% 129.7% 81.64%
2020 6.3% -22.6% 304.8% 24.88%
2019 25.2% -12.7% 52.1% 55.27%

NAV & Total Return History


BHBFX - Holdings

Concentration Analysis

BHBFX Category Low Category High BHBFX % Rank
Net Assets 195 M 1.69 M 163 B 79.12%
Number of Holdings 40 2 1683 87.31%
Net Assets in Top 10 64.5 M 435 K 38.9 B 77.50%
Weighting of Top 10 36.07% 4.8% 98.8% 20.65%

Top 10 Holdings

  1. Fastenal Co. 4.05%
  2. Medtronic PLC 4.03%
  3. Home Depot, Inc. 3.81%
  4. Comcast Corp. 3.66%
  5. Morgan Stanley 3.61%
  6. CME Group, Inc. 3.57%
  7. NextEra Energy, Inc. 3.49%
  8. Johnson Johnson 3.32%
  9. EOG Resources, Inc. 3.28%
  10. Automatic Data Processing, Inc. 3.26%

Asset Allocation

Weighting Return Low Return High BHBFX % Rank
Stocks
98.49% 2.48% 108.67% 51.40%
Cash
1.51% 0.00% 20.27% 43.11%
Preferred Stocks
0.00% 0.00% 14.68% 57.61%
Other
0.00% -1.68% 42.55% 69.13%
Convertible Bonds
0.00% 0.00% 3.66% 55.42%
Bonds
0.00% -1.92% 77.58% 57.07%

Stock Sector Breakdown

Weighting Return Low Return High BHBFX % Rank
Healthcare
19.57% 0.00% 30.08% 23.25%
Financial Services
17.18% 0.00% 58.05% 70.12%
Industrials
13.00% 0.00% 42.76% 29.06%
Consumer Defense
9.99% 0.00% 34.10% 29.79%
Energy
9.32% 0.00% 54.00% 29.88%
Consumer Cyclical
7.89% 0.00% 22.74% 23.16%
Technology
6.62% 0.00% 54.02% 88.65%
Communication Services
6.59% 0.00% 26.58% 35.51%
Utilities
3.80% 0.00% 27.04% 60.49%
Basic Materials
3.58% 0.00% 21.69% 45.87%
Real Estate
2.47% 0.00% 90.54% 52.86%

Stock Geographic Breakdown

Weighting Return Low Return High BHBFX % Rank
US
98.49% 2.48% 108.67% 40.14%
Non US
0.00% 0.00% 26.07% 69.76%

BHBFX - Expenses

Operational Fees

BHBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.03% 14.82% 51.58%
Management Fee 0.70% 0.00% 1.50% 77.17%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.20% 0.00% 0.50% 80.39%

Sales Fees

BHBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 0.95% 5.00% N/A

Trading Fees

BHBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BHBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 31.00% 0.00% 488.00% 43.85%

BHBFX - Distributions

Dividend Yield Analysis

BHBFX Category Low Category High BHBFX % Rank
Dividend Yield 1.89% 0.00% 16.67% 19.01%

Dividend Distribution Analysis

BHBFX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

BHBFX Category Low Category High BHBFX % Rank
Net Income Ratio 1.50% -1.51% 4.28% 40.61%

Capital Gain Distribution Analysis

BHBFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

BHBFX - Fund Manager Analysis

Managers

John Brown


Start Date

Tenure

Tenure Rank

Mar 01, 2012

10.25

10.3%

John, CFA, serves as a portfolio manager on Madison's dividend income and value strategies. John has been working in the financial services industry since 1983 and joined Madison in 2009. He earned his B.S. in finance and computer science from Northern Illinois University and his MBA from the University of Wisconsin-Madison.

Andrew Justman


Start Date

Tenure

Tenure Rank

Apr 19, 2013

9.12

9.1%

Mr. Justman, Vice President and Portfolio Manager of Madison, has co-managed the equity portion of the Fund since May 2015. Andrew has been working in the financial services industry since 2001 and joined Madison in 2005. He earned his BBA in finance and economics and M.S. in finance from the University of Wisconsin-Madison, specializing in the Applied Security Analysis Program. Prior to joining Madison he worked at Merrill Lynch.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.05 86.59 7.96 0.25