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ETFs

Madison Covered Call ETF

CVRD
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Aug 22 2023
Expense Ratio
0.90%
Type
US Equity Income
Fund Owner
Madison Funds
Volume (1m avg. daily)
$2,865,711
AUM
$79,448,400
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
Cash & Other
5.37%
MSFT
Microsoft Corporation
3.58%
TMUS
T-Mobile US Inc
3.51%
DHR
Danaher Corp.
3.25%
CIEN
CIENA Corp.
3.16%
MDT
Medtronic Plc
3.01%
LVS
Las Vegas Sands Corp
3.01%
ELV
Elevance Health Inc
2.88%
CSCO
Cisco Systems, Inc.
2.78%
AMT
American Tower Corp.
2.75%
Invest with CVRD

What is 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 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.

ETFs related toCVRD

ETFs correlated to CVRD include EQTY, BKMC, MDYG

CVRD
Madison ETFs Trust - Madison Covered Call ETF
EQTY
Valued Advisers Trust - Kovitz Core Equity ETF
BKMC
BNY Mellon ETF Trust - BNY Mellon US Mid Cap Core Equity ETF
MDYG
SPDR Series Trust - SPDR S&P 400 Mid Cap Growth ETF
PRF
Invesco Capital Management LLC - Invesco FTSE RAFI US 1000 ETF
CFO
Victory Portfolios II - VictoryShares US 500 Enhanced Volatility Wtd ETF
IJK
BlackRock Institutional Trust Company N.A. - iShares S&P Mid-Cap 400 Growth ETF
VONV
Vanguard Group, Inc. - Vanguard Russell 1000 Value Index ETF
IWD
BlackRock Institutional Trust Company N.A. - iShares Russell 1000 Value ETF
FEX
First Trust Exchange-Traded Fund III - First Trust Large Cap Core AlphaDEX Fund
IVOG
Vanguard Group, Inc. - Vanguard S&P Mid-Cap 400 Growth ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

CVRD is a US Equity Income ETF. 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.

Yes, CVRD is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, CVRD is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on CVRD is -0.0002%. This is the percent change in the value of CVRD over the most recent 1-month period. The 3-month return on CVRD is %. This is the percent change in the value of CVRD over the most recent 3-month period.

ETFs similar to CVRD include PKW, VIXY, and XYLD.

ETFs correlated to CVRD include EQTY, BKMC, and MDYG.

ETFs that are inversely correlated to CVRD include TWM, RWM, and SRTY.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.