MENCX: Madison Covered Call & Equity Income C

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MENCX Madison Covered Call & Equity Income C


Profile

MENCX - Profile

Vitals

  • YTD Return -9.9%
  • 3 Yr Annualized Return -7.0%
  • 5 Yr Annualized Return -5.6%
  • Net Assets $84.8 M
  • Holdings in Top 10 36.9%

52 WEEK LOW AND HIGH

$6.86
$5.44
$7.68

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.00%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 116.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $500

Fund Classification


Distributions

  • YTD Total Return -9.9%
  • 3 Yr Annualized Total Return -3.9%
  • 5 Yr Annualized Total Return -1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.29%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Madison Covered Call & Equity Income Fund
  • Fund Family Name
    Madison Funds
  • Inception Date
    Jul 31, 2012
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Ray DiBernardo

Fund Description

The fund invests, under normal conditions, primarily in common stocks of large- and mid-capitalization issuers that are, in the view of the fund's investment adviser, selling at a reasonable price in relation to their long-term earnings growth rates. It will invest at least 80% of its net assets in common stocks, with at least 65% of this amount invested in common stocks of large capitalization issuers that meet the fund's selection criteria.


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Categories

Performance

MENCX - Performance

Return Ranking - Trailing

Period MENCX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.9% -60.5% 76.4% 56.07%
1 Yr -7.8% -73.9% 73.7% 53.61%
3 Yr -7.0%* -45.0% 44.6% 77.15%
5 Yr -5.6%* -39.7% 37.8% 78.64%
10 Yr N/A* -39.0% 35.0% 58.71%

* Annualized

Return Ranking - Calendar

Period MENCX Return Category Return Low Category Return High Rank in Category (%)
2019 6.3% -58.1% 80.6% 71.57%
2018 -15.5% -64.5% 23.6% 67.37%
2017 -1.6% -55.3% 69.8% 87.82%
2016 -0.1% -34.8% 68.2% 78.32%
2015 -8.8% -50.8% 22.5% 62.56%

Total Return Ranking - Trailing

Period MENCX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.9% -60.5% 76.4% 56.07%
1 Yr -7.8% -73.9% 73.7% 53.61%
3 Yr -3.9%* -45.0% 44.6% 70.86%
5 Yr -1.2%* -39.7% 37.8% 65.40%
10 Yr N/A* -39.0% 35.0% 77.75%

* Annualized

Total Return Ranking - Calendar

Period MENCX Return Category Return Low Category Return High Rank in Category (%)
2019 6.3% -58.1% 80.6% 71.57%
2018 -11.1% -64.5% 23.6% 59.90%
2017 6.4% -55.3% 69.8% 71.78%
2016 7.1% -34.8% 70.7% 49.61%
2015 -1.9% -50.8% 30.8% 40.51%

NAV & Total Return History


Holdings

MENCX - Holdings

Concentration Analysis

MENCX Category Low Category High MENCX % Rank
Net Assets 84.8 M 92.3 K 98.5 B 50.18%
Number of Holdings 68 1 2004 50.48%
Net Assets in Top 10 31.9 M -2.14 B 26.6 B 42.84%
Weighting of Top 10 36.90% 0.0% 100.0% 44.29%

Top 10 Holdings

  1. Lowe's Companies Inc 5.06%
  2. Becton, Dickinson and Co 4.42%
  3. Range Resources Corp 4.31%
  4. Accenture PLC Class A 3.88%
  5. CVS Health Corp 3.78%
  6. Zimmer Biomet Holdings Inc 3.74%
  7. Freeport-McMoRan Inc 3.64%
  8. VanEck Vectors Gold Miners ETF 3.63%
  9. Berkshire Hathaway Inc Class B 3.55%
  10. Barrick Gold Corp 3.33%

Asset Allocation

Weighting Return Low Return High MENCX % Rank
Stocks
82.91% -46.11% 100.41% 31.62%
Cash
15.60% -0.92% 1041.68% 59.55%
Other
1.39% -895.56% 38.46% 21.72%
Bonds
0.10% -696.69% 45.33% 32.70%
Preferred Stocks
0.00% -0.02% 19.36% 50.84%
Convertible Bonds
0.00% 0.00% 33.69% 49.28%

Stock Sector Breakdown

Weighting Return Low Return High MENCX % Rank
Basic Materials
20.86% 0.00% 63.34% 0.88%
Healthcare
16.60% 0.00% 100.00% 32.29%
Financial Services
12.03% 0.00% 100.00% 60.93%
Energy
11.67% 0.00% 100.00% 9.80%
Consumer Defense
8.84% 0.00% 69.13% 27.51%
Technology
7.60% 0.00% 99.85% 81.41%
Communication Services
6.73% 0.00% 100.00% 55.03%
Consumer Cyclical
6.58% 0.00% 59.77% 70.48%
Industrials
5.23% 0.00% 70.69% 78.02%
Utilities
3.85% 0.00% 99.08% 28.64%
Real Estate
0.01% 0.00% 100.00% 82.54%

Stock Geographic Breakdown

Weighting Return Low Return High MENCX % Rank
US
75.25% -29.34% 83.25% 27.80%
Non US
7.66% -48.75% 62.54% 42.48%

Bond Sector Breakdown

Weighting Return Low Return High MENCX % Rank
Cash & Equivalents
99.35% -0.92% 100.00% 45.11%
Government
0.65% 0.00% 56.70% 25.78%
Derivative
0.00% -0.02% 86.99% 44.99%
Securitized
0.00% 0.00% 43.57% 44.63%
Corporate
0.00% 0.00% 100.00% 62.17%
Municipal
0.00% 0.00% 11.01% 40.81%

Bond Geographic Breakdown

Weighting Return Low Return High MENCX % Rank
US
0.10% -696.69% 34.30% 32.70%
Non US
0.00% -252.88% 11.03% 45.94%

Expenses

MENCX - Expenses

Operational Fees

MENCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.00% 0.03% 12.16% 37.58%
Management Fee 0.85% 0.00% 2.94% 48.15%
12b-1 Fee 1.00% 0.00% 1.00% 83.59%
Administrative Fee N/A 0.01% 1.12% N/A

Sales Fees

MENCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 38.68%

Trading Fees

MENCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

MENCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 116.00% 0.00% 496.00% 71.67%

Distributions

MENCX - Distributions

Dividend Yield Analysis

MENCX Category Low Category High MENCX % Rank
Dividend Yield 0.00% 0.00% 11.31% 39.81%

Dividend Distribution Analysis

MENCX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

MENCX Category Low Category High MENCX % Rank
Net Income Ratio 0.29% -4.31% 4.44% 55.06%

Capital Gain Distribution Analysis

MENCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

MENCX - Fund Manager Analysis

Managers

Ray DiBernardo


Start Date

Tenure

Tenure Rank

Oct 30, 2009

10.67

10.7%

Ray serves as a portfolio manager on Madison's covered call strategies. Ray has been working in the financial services industry since 1984 and joined Madison in 2003. He earned his B.A. from the University of Western Ontario.

Andrew Justman


Start Date

Tenure

Tenure Rank

Dec 31, 2016

3.5

3.5%

Drew, CFA serves as a portfolio manager on Madison's covered call, dividend income and value strategies. Drew has been working in the financial services industry since 2001 and joined Madison in 2005. He earned his BBA in finance and economics and M.S. in finance from the University of Wisconsin-Madison, specializing in the Applied Security Analysis Program. Prior to joining Madison he worked at Merrill Lynch.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 41.52 8.34 6.75