CVRDMadison Covered Call ETF
Seeks consistent total return and high levels of income and gains.
By Madison Asset Management, LLC · Launched 2023
0.92%
#4,574 of 5,562 · expensive
$35M
#3,893 of 5,562 · small
7.47%
2 years
#3,121 of 5,562 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 39.7% of fund✓ well diversified
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks consistent total return and high levels of income and gains.
- Strategy
- Invests primarily in dividend-paying common stocks of large- and mid-cap companies while writing covered call options on a substantial portion of its portfolio. The strategy aims to generate income from option premiums and mitigate price declines, while allowing for participation in market appreciation.
- Inception date
- August 21, 2023
- Fund family
- Madison Asset Management, LLC
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-19