Madison Covered Call ETF
CVRD
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 550 Science Drive Madison WI United States of America 53711
- IPO Date
- Aug 22, 2023
- Website
- madisonfunds.com
- Similar Companies
- Business
- Madison Covered Call ETF (CVRD) is an actively managed exchange-traded fund that seeks consistent total return, secondarily producing high levels of income and gains from option premiums and dividends; it invests primarily in common stocks of large- and mid-cap companies selling at reasonable prices relative to their long-term growth rates, with financial strength and competitive positioning, while writing covered call options on a substantial portion (typically over 95%) of its portfolio securities under normal market conditions; it may also employ put and call option strategies on portfolio holdings. The ETF maintains a sector-neutral approach relative to the S&P 500 Index's GICS weightings, holds approximately 39 equity positions with a weighted average market capitalization of around $199 billion, and invests up to 15% in foreign securities including emerging markets; top holdings as of late 2025 include Danaher Corp, Microsoft Corp, Adobe Inc, AES Corp, and Accenture PLC. Launched on August 21, 2023, CVRD trades on NYSE Arca and is issued by Madison ETFs Trust, with investment advisory services provided by Madison Asset Management, LLC (headquartered at 550 Science Drive, Madison, Wisconsin) and sub-advisory support from Tidal Investments LLC for trading, tax optimization, and compliance; portfolio management is led by Ray DiBernardo, CFA, and Drew Justman, CFA. The fund targets income-oriented investors seeking growth potential with downside protection via option premiums, offering a 30-day SEC yield of approximately 1.32%, quarterly distributions, and an expense ratio of 0.90% as of September 2025. In recent developments, net assets grew to about $44 million by September 2025 amid steady performance, with year-to-date NAV returns of roughly 3.8% and one-year returns around 2.4%, reflecting its covered call overlay that partially offsets market declines while capping significant upside; no major acquisitions, funding rounds, or strategic shifts specific to CVRD were reported in 2024-2025, though related Madison closed-end funds pursued partnerships such as the October 2024 shareholder approval of XA Investments, LLC as advisor (with Madison as sub-advisor) for the rebranded XAI Madison Equity Premium Income Fund (formerly Madison Covered Call & Equity Strategy Fund, NYSE: MCN).