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Name

As of 11/01/2024

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

Madison Funds - Madison Consrvtv Allcatin Fd USD Cls A

MCNAX | Fund

$9.75

$58.2 M

2.32%

$0.23

0.71%

Vitals

YTD Return

4.8%

1 yr return

11.1%

3 Yr Avg Return

-0.7%

5 Yr Avg Return

2.1%

Net Assets

$58.2 M

Holdings in Top 10

102.4%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.71%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 63.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/01/2024

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

Madison Funds - Madison Consrvtv Allcatin Fd USD Cls A

MCNAX | Fund

$9.75

$58.2 M

2.32%

$0.23

0.71%

MCNAX - Profile

Distributions

  • YTD Total Return 4.8%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.86%
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Madison Funds - Madison Consrvtv Allcatin Fd USD Cls A
  • Fund Family Name
    Madison Funds
  • Inception Date
    Feb 07, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Patrick Ryan

Fund Description

The Fund invests primarily in shares of other registered investment companies (the “underlying funds”). The Fund will be diversified among a number of asset classes and its allocation among underlying funds will be based on an asset allocation model developed by Madison Asset Management, LLC (“Madison”), the Fund’s investment adviser. Under normal circumstances, the fund’s total net assets will be allocated among various asset classes and underlying funds, including those whose shares trade on a stock exchange (exchange traded funds or “ETFs”), with target allocations over time of approximately 35% equity investments and 65% fixed income investments. Underlying funds in which the Fund invests may include funds advised by Madison and/or its affiliates, including other Madison Funds (the “affiliated underlying funds”). Generally, Madison will not invest more than 75% of the Fund’s net assets, at the time of purchase, in affiliated underlying funds. Although actual allocations may vary, as of October 31, 2022, the Fund’s portfolio allocation as a percentage of net assets was:    
- Alternative Funds: 2.0  %
-
Bond Funds:
 64.9  %
-
Foreign Stock Funds:
 2.0  %
-
Short-Term Investments:
 25.1  %
-
Stock Funds:
 25.7  %
-
Net Other Assets and Liabilities:
 -19.7  %
With regard to investments in debt securities, Madison’s bias is toward securities with intermediate and short-term maturities. As of December 31, 2022, the weighted average duration of the fund’s debt portfolio was 6.40 years.
Madison may employ multiple analytical approaches to determine the appropriate asset allocation for the Fund, including:
•Macroeconomic analysis. This approach analyzes high frequency economic and market data across the global markets in an effort to identify attractive investment opportunities in countries, regions and/or asset classes.
•Fundamental analysis. This approach reviews fundamental asset class valuation data to determine the absolute and relative attractiveness of existing and potential investment opportunities.
•Correlation analysis. This approach considers the degree to which returns in different asset classes do or do not move together, and the Fund’s aim to achieve a favorable overall risk and return profile.
•Scenario analysis. This approach analyzes historical and expected return data to model how individual asset classes and combinations of asset classes would affect the Fund under different economic and market conditions.
In addition, Madison has a flexible mandate that permits the Fund, at the sole discretion of Madison, to materially reduce equity risk exposures when and if conditions are deemed to warrant such an action.
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

MCNAX - Performance

Return Ranking - Trailing

Period MCNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -2.0% 10.6% 63.93%
1 Yr 11.1% 2.9% 18.4% 64.75%
3 Yr -0.7%* -9.9% 6.3% 72.50%
5 Yr 2.1%* -8.7% 6.2% 75.00%
10 Yr 3.2%* -3.2% 4.4% 46.07%

* Annualized

Return Ranking - Calendar

Period MCNAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.3% -6.5% 9.5% 46.72%
2022 -15.0% -24.6% -1.5% 40.00%
2021 -3.5% -8.5% 3.8% 94.96%
2020 1.6% -16.2% 11.1% 92.24%
2019 8.3% 3.0% 10.7% 31.25%

Total Return Ranking - Trailing

Period MCNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -2.0% 10.6% 63.93%
1 Yr 11.1% 2.9% 18.4% 64.75%
3 Yr -0.7%* -9.9% 6.3% 72.50%
5 Yr 2.1%* -8.7% 6.2% 75.00%
10 Yr 3.2%* -3.2% 4.4% 46.07%

* Annualized

Total Return Ranking - Calendar

Period MCNAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -5.6% 13.3% 63.93%
2022 -13.8% -22.6% 8.8% 80.83%
2021 3.0% -8.5% 13.8% 73.95%
2020 9.1% -13.7% 13.5% 33.62%
2019 12.4% 5.7% 18.4% 28.57%

NAV & Total Return History

MCNAX - Holdings

Concentration Analysis

MCNAX Category Low Category High MCNAX % Rank
Net Assets 58.2 M 8.81 M 5.46 B 86.89%
Number of Holdings 19 3 1939 54.92%
Net Assets in Top 10 52 M 8.75 M 5.16 B 84.43%
Weighting of Top 10 102.43% 10.9% 102.4% 0.82%

Top 10 Holdings

  1. Madison Core Bond R6 24.90%
  2. Madison Investors R6 5.01%

Asset Allocation

Weighting Return Low Return High MCNAX % Rank
Bonds 		59.26% 0.00% 159.75% 11.48%
Stocks 		32.71% 0.00% 100.06% 78.69%
Cash 		5.24% 0.00% 59.63% 23.77%
Preferred Stocks 		1.04% 0.00% 1.11% 3.28%
Other 		0.88% -77.60% 38.90% 11.48%
Convertible Bonds 		0.87% 0.00% 3.97% 72.95%

Stock Sector Breakdown

Weighting Return Low Return High MCNAX % Rank
Technology 		25.51% 0.00% 25.62% 1.64%
Financial Services 		20.10% 0.00% 20.10% 0.82%
Healthcare 		10.45% 0.00% 19.76% 79.51%
Industrials 		10.19% 0.00% 29.86% 58.20%
Basic Materials 		8.62% 0.00% 8.62% 0.82%
Consumer Cyclical 		6.91% 0.00% 12.36% 87.70%
Consumer Defense 		6.54% 0.00% 22.77% 55.74%
Energy 		5.88% 0.00% 27.98% 20.49%
Communication Services 		3.55% 0.00% 11.71% 95.08%
Real Estate 		1.28% 0.00% 78.69% 95.90%
Utilities 		0.98% 0.00% 91.26% 94.26%

Stock Geographic Breakdown

Weighting Return Low Return High MCNAX % Rank
US 		26.50% 0.00% 100.06% 77.87%
Non US 		6.21% 0.00% 14.08% 1.64%

Bond Sector Breakdown

Weighting Return Low Return High MCNAX % Rank
Government 		43.85% 0.00% 62.10% 21.31%
Corporate 		27.66% 0.00% 73.91% 53.28%
Securitized 		20.68% 0.00% 61.25% 44.26%
Cash & Equivalents 		7.81% 0.00% 59.63% 16.39%
Derivative 		0.00% -0.17% 38.90% 25.41%
Municipal 		0.00% 0.00% 7.45% 77.05%

Bond Geographic Breakdown

Weighting Return Low Return High MCNAX % Rank
US 		57.46% 0.00% 159.75% 11.48%
Non US 		1.80% 0.00% 17.32% 5.74%

MCNAX - Expenses

Operational Fees

MCNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.71% 0.11% 6.36% 79.51%
Management Fee 0.20% 0.00% 1.25% 41.80%
12b-1 Fee 0.25% 0.00% 1.00% 30.99%
Administrative Fee 0.25% 0.01% 0.70% 86.00%

Sales Fees

MCNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 3.50% 5.75% 5.26%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

MCNAX 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.

MCNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 63.00% 6.00% 318.00% 79.09%

MCNAX - Distributions

Dividend Yield Analysis

MCNAX Category Low Category High MCNAX % Rank
Dividend Yield 2.32% 0.00% 5.22% 81.15%

Dividend Distribution Analysis

MCNAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Quarterly

Net Income Ratio Analysis

MCNAX Category Low Category High MCNAX % Rank
Net Income Ratio 0.86% -1.30% 3.99% 85.00%

Capital Gain Distribution Analysis

MCNAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

MCNAX - Fund Manager Analysis

Managers

Patrick Ryan

Start Date

Tenure

Tenure Rank

Jan 01, 2008

14.42

14.4%

Patrick Ryan, CFA®, serves as head of Madison’s Multi-Asset Solutions Team and as portfolio manager on the Mosaic Portfolios and the Madison Asset Allocation Funds. Patrick has been working in the financial services industry since 2000 and joined Madison in 2009. He earned his BBA in finance from the University of Wisconsin-Madison.

David Hottmann

Start Date

Tenure

Tenure Rank

Sep 30, 2009

12.67

12.7%

David Hottmann, CFA®, serves as a portfolio manager on the Madison Mosaic Portfolios and the Madison Asset Allocation Funds. David has been working in the financial services industry for over 30 years; he joined Madison in 2009. He earned his BBA in accounting & finance from the University of Wisconsin-Madison.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 26.96 6.4 12.09

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