CVRDMadison Covered Call ETF
Seeks consistent total return and high income through covered call options on equity securities.
By Madison Asset Management, LLC · Launched 2023
0.92%
#4,764 of 5,861 · expensive
$32M
#4,108 of 5,861 · small
7.98%
2 years
#3,044 of 5,861 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 35.8% 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
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks consistent total return and high income through covered call options on equity securities.
- Strategy
- Invests primarily in common stocks of large- and mid-capitalization issuers that pay dividends, while writing covered call options on a substantial portion of its portfolio. May invest up to 15% in foreign securities, including ADRs and emerging markets.
- Inception date
- August 21, 2023
- Fund family
- Madison Asset Management, LLC
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
The big yield isn't extra money
The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.
Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
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 2026-08-04