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Name

As of 12/20/2024

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 Moderate Allocation Fund

MMDAX | Fund

$11.16

$97.9 M

2.02%

$0.22

1.00%

Vitals

YTD Return

7.3%

1 yr return

7.6%

3 Yr Avg Return

0.7%

5 Yr Avg Return

3.5%

Net Assets

$97.9 M

Holdings in Top 10

93.0%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 71.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/20/2024

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 Moderate Allocation Fund

MMDAX | Fund

$11.16

$97.9 M

2.02%

$0.22

1.00%

MMDAX - Profile

Distributions

  • YTD Total Return 7.3%
  • 3 Yr Annualized Total Return 0.7%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.70%
DIVIDENDS
  • Dividend Yield 2.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Madison Moderate Allocation Fund
  • Fund Family Name
    MADISONMUT
  • Inception Date
    Feb 07, 2013
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • 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 60% equity investments and 40% 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, 2023, the Fund’s portfolio allocation as a percentage of net assets was:
-
Bond Funds:
 46.3  %
-
Foreign Stock Funds:
 10.6  %
-
Short-Term Investments:
 8.6  %
-
Stock Funds:
 41.1  %
-
Net Other Assets and Liabilities:
 -6.6  %
With regard to investments in debt securities, Madison’s bias is toward securities with intermediate and short-term maturities. As of December 31, 2023, the weighted average duration of the Fund’s debt portfolio was 5.78 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

MMDAX - Performance

Return Ranking - Trailing

Period MMDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -2.2% 72.2% 85.90%
1 Yr 7.6% -1.7% 70.0% 88.25%
3 Yr 0.7%* -4.8% 22.3% 91.14%
5 Yr 3.5%* -4.1% 21.3% 93.85%
10 Yr 4.3%* 0.7% 13.7% 87.80%

* Annualized

Return Ranking - Calendar

Period MMDAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -12.2% 23.9% 73.60%
2022 -15.7% -34.7% 2.8% 25.19%
2021 -1.6% -11.9% 18.1% 89.80%
2020 0.4% -20.9% 39.7% 89.81%
2019 11.6% 0.8% 25.7% 74.83%

Total Return Ranking - Trailing

Period MMDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -2.2% 72.2% 85.90%
1 Yr 7.6% -1.7% 70.0% 88.25%
3 Yr 0.7%* -4.8% 22.3% 91.14%
5 Yr 3.5%* -4.1% 21.3% 93.85%
10 Yr 4.3%* 0.7% 13.7% 87.80%

* Annualized

Total Return Ranking - Calendar

Period MMDAX Return Category Return Low Category Return High Rank in Category (%)
2023 10.3% -12.2% 26.8% 83.19%
2022 -14.5% -29.0% 10.9% 45.73%
2021 6.8% -3.0% 27.3% 94.44%
2020 9.7% -19.5% 40.6% 73.79%
2019 16.0% 2.2% 32.7% 87.33%

NAV & Total Return History

MMDAX - Holdings

Concentration Analysis

MMDAX Category Low Category High MMDAX % Rank
Net Assets 97.9 M 861 K 235 B 85.36%
Number of Holdings 15 2 16143 80.24%
Net Assets in Top 10 85.9 M 859 K 66.9 B 78.76%
Weighting of Top 10 92.99% 10.8% 122.7% 21.68%

Top 10 Holdings

  1. Madison Core Bond Fund 25.29%
  2. Madison Investors Fund 12.55%
  3. Invesco Exchange-Traded Fund Trust - Invesco SP 500 Quality ETF 9.52%
  4. Schwab Intermediate-Term U.S. Treasury ETF 9.39%
  5. Distillate U.S. Fundamental Stability Value ETF 8.30%
  6. iShares Treasury Floating Rate Bond ETF 6.77%
  7. State Street Navigator Securities Lending Government Money Market Portfolio 5.75%
  8. Vanguard FTSE Europe ETF 5.62%
  9. Vanguard Information Technology ETF 5.36%
  10. iShares MSCI Emerging Markets Asia ETF 4.45%

Asset Allocation

Weighting Return Low Return High MMDAX % Rank
Stocks 		99.33% 0.00% 100.10% 26.55%
Cash 		6.41% -7.92% 100.00% 13.57%
Convertible Bonds 		0.51% 0.00% 23.84% 47.25%
Preferred Stocks 		0.00% 0.00% 24.59% 62.98%
Other 		0.00% -42.55% 113.97% 69.76%
Bonds 		0.00% 0.00% 77.71% 77.43%

Stock Sector Breakdown

Weighting Return Low Return High MMDAX % Rank
Technology 		25.53% 0.00% 44.21% 9.09%
Financial Services 		18.97% 0.00% 38.77% 8.35%
Basic Materials 		10.61% 0.00% 25.57% 2.38%
Healthcare 		9.91% 0.00% 29.35% 86.59%
Industrials 		9.77% 0.00% 24.37% 55.44%
Consumer Cyclical 		6.81% 0.00% 19.36% 80.18%
Consumer Defense 		6.30% 0.00% 15.14% 61.70%
Energy 		6.28% 0.00% 85.65% 31.15%
Communication Services 		3.49% 0.00% 38.10% 94.19%
Real Estate 		1.39% 0.00% 65.01% 85.99%
Utilities 		0.94% 0.00% 99.55% 89.42%

Stock Geographic Breakdown

Weighting Return Low Return High MMDAX % Rank
US 		99.33% 0.00% 100.10% 26.55%
Non US 		0.00% 0.00% 42.80% 64.16%

MMDAX - Expenses

Operational Fees

MMDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.03% 27.98% 48.53%
Management Fee 0.20% 0.00% 1.83% 37.04%
12b-1 Fee 0.25% 0.00% 1.00% 36.34%
Administrative Fee 0.25% 0.01% 0.83% 92.93%

Sales Fees

MMDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.25% 5.75% 20.91%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MMDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

MMDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 71.00% 0.83% 343.00% 76.97%

MMDAX - Distributions

Dividend Yield Analysis

MMDAX Category Low Category High MMDAX % Rank
Dividend Yield 2.02% 0.00% 17.90% 52.71%

Dividend Distribution Analysis

MMDAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Quarterly

Net Income Ratio Analysis

MMDAX Category Low Category High MMDAX % Rank
Net Income Ratio 0.70% -2.34% 13.92% 73.12%

Capital Gain Distribution Analysis

MMDAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

View More +

MMDAX - 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
0.08 34.51 6.39 2.41

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