Fund
MMDAX
Price as of:
$11.26
- $0.00
- 0.00%
Primary Theme
fund company
Name
As of 11/19/2024Price
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
Vitals
YTD Return
8.3%
1 yr return
13.0%
3 Yr Avg Return
0.9%
5 Yr Avg Return
3.9%
Net Assets
$97.9 M
Holdings in Top 10
87.3%
52 WEEK LOW AND HIGH
$11.3
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 11/19/2024Price
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
MMDAX - Profile
Distributions
- YTD Total Return 8.3%
- 3 Yr Annualized Total Return 0.9%
- 5 Yr Annualized Total Return 3.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.70%
- Dividend Yield 2.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMadison Moderate Allocation Fund
-
Fund Family NameMADISONMUT
-
Inception DateFeb 07, 2013
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPatrick 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.
MMDAX - Performance
Return Ranking - Trailing
| Period | MMDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.3% | -2.2% | 80.8% | 92.01% |
| 1 Yr | 13.0% | -2.2% | 90.0% | 95.20% |
| 3 Yr | 0.9%* | -4.9% | 20.0% | 88.11% |
| 5 Yr | 3.9%* | -2.4% | 22.9% | 94.56% |
| 10 Yr | 4.5%* | 1.0% | 13.5% | 86.70% |
* Annualized
Return Ranking - Calendar
| Period | MMDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.0% | -12.2% | 23.9% | 73.91% |
| 2022 | -15.7% | -34.7% | 2.8% | 24.74% |
| 2021 | -1.6% | -11.9% | 18.1% | 89.53% |
| 2020 | 0.4% | -20.9% | 39.7% | 90.00% |
| 2019 | 11.6% | 0.8% | 25.7% | 75.00% |
Total Return Ranking - Trailing
| Period | MMDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.3% | -2.2% | 80.8% | 92.01% |
| 1 Yr | 13.0% | -2.2% | 90.0% | 95.20% |
| 3 Yr | 0.9%* | -4.9% | 20.0% | 88.11% |
| 5 Yr | 3.9%* | -2.4% | 22.9% | 94.56% |
| 10 Yr | 4.5%* | 1.0% | 13.5% | 86.70% |
* Annualized
Total Return Ranking - Calendar
| Period | MMDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.3% | -12.2% | 26.8% | 83.33% |
| 2022 | -14.5% | -29.0% | 10.9% | 45.07% |
| 2021 | 6.8% | -3.0% | 27.3% | 94.54% |
| 2020 | 9.7% | -19.5% | 40.6% | 74.13% |
| 2019 | 16.0% | 2.2% | 32.7% | 87.42% |
NAV & Total Return History
MMDAX - Holdings
Concentration Analysis
| MMDAX | Category Low | Category High | MMDAX % Rank | |
|---|---|---|---|---|
| Net Assets | 97.9 M | 861 K | 235 B | 85.61% |
| Number of Holdings | 16 | 2 | 16015 | 79.13% |
| Net Assets in Top 10 | 83.5 M | 859 K | 69.8 B | 79.42% |
| Weighting of Top 10 | 87.34% | 10.8% | 122.7% | 29.28% |
Top 10 Holdings
- Madison Core Bond Fund 22.16%
- Madison Investors Fund 12.81%
- Invesco Exchange-Traded Fund Trust - Invesco SP 500 Quality ETF 9.19%
- Schwab Intermediate-Term U.S. Treasury ETF 8.26%
- State Street Navigator Securities Lending Government Money Market Portfolio 7.42%
- iShares Treasury Floating Rate Bond ETF 6.55%
- Distillate U.S. Fundamental Stability Value ETF 6.21%
- Vanguard Information Technology ETF 5.05%
- Vanguard FTSE Europe ETF 5.05%
- iShares Aaa - A Rated Corporate Bond ETF 4.63%
Asset Allocation
| Weighting | Return Low | Return High | MMDAX % Rank | |
|---|---|---|---|---|
| Stocks | 96.55% | 0.00% | 100.16% | 39.57% |
| Cash | 10.86% | -7.92% | 100.00% | 5.36% |
| Convertible Bonds | 0.51% | 0.00% | 23.84% | 47.15% |
| Preferred Stocks | 0.00% | 0.00% | 23.91% | 81.45% |
| Other | 0.00% | -42.55% | 113.97% | 79.71% |
| Bonds | 0.00% | 0.00% | 74.58% | 86.81% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MMDAX % Rank | |
|---|---|---|---|---|
| Technology | 25.53% | 0.00% | 44.21% | 8.93% |
| Financial Services | 18.97% | 0.00% | 38.77% | 8.20% |
| Basic Materials | 10.61% | 0.00% | 25.57% | 2.34% |
| Healthcare | 9.91% | 0.00% | 29.35% | 86.82% |
| Industrials | 9.77% | 0.00% | 24.37% | 55.05% |
| Consumer Cyclical | 6.81% | 0.00% | 19.36% | 80.38% |
| Consumer Defense | 6.30% | 0.00% | 15.14% | 62.23% |
| Energy | 6.28% | 0.00% | 85.65% | 30.75% |
| Communication Services | 3.49% | 0.00% | 38.10% | 94.29% |
| Real Estate | 1.39% | 0.00% | 65.01% | 86.24% |
| Utilities | 0.94% | 0.00% | 99.55% | 89.60% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MMDAX % Rank | |
|---|---|---|---|---|
| US | 96.55% | 0.00% | 100.16% | 38.12% |
| Non US | 0.00% | 0.00% | 39.06% | 80.43% |
MMDAX - Expenses
Operational Fees
| MMDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.00% | 0.03% | 17.63% | 48.56% |
| Management Fee | 0.20% | 0.00% | 1.83% | 36.98% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 44.99% |
| Administrative Fee | 0.25% | 0.01% | 0.83% | 93.58% |
Sales Fees
| MMDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.75% | 2.25% | 5.75% | 27.68% |
| 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% | 77.24% |
MMDAX - Distributions
Dividend Yield Analysis
| MMDAX | Category Low | Category High | MMDAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.00% | 0.00% | 17.90% | 52.23% |
Dividend Distribution Analysis
| MMDAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Monthly | Annual |
Net Income Ratio Analysis
| MMDAX | Category Low | Category High | MMDAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.70% | -2.34% | 13.92% | 73.30% |
Capital Gain Distribution Analysis
| MMDAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2023 | $0.224 | OrdinaryDividend |
| Dec 29, 2022 | $0.134 | OrdinaryDividend |
| Dec 30, 2021 | $0.967 | OrdinaryDividend |
| Dec 30, 2020 | $1.071 | OrdinaryDividend |
| Dec 30, 2019 | $0.168 | OrdinaryDividend |
| Dec 30, 2019 | $0.288 | CapitalGainLongTerm |
| Dec 28, 2018 | $0.769 | CapitalGainLongTerm |
| Dec 28, 2018 | $0.168 | OrdinaryDividend |
| Dec 29, 2017 | $0.117 | CapitalGainShortTerm |
| Dec 29, 2017 | $0.321 | CapitalGainLongTerm |
| Dec 29, 2017 | $0.170 | OrdinaryDividend |
| Dec 30, 2016 | $0.322 | CapitalGainLongTerm |
| Dec 30, 2016 | $0.154 | OrdinaryDividend |
| Dec 31, 2015 | $0.627 | CapitalGainLongTerm |
| Dec 31, 2015 | $0.121 | OrdinaryDividend |
| Dec 31, 2014 | $0.353 | CapitalGainShortTerm |
| Dec 31, 2014 | $0.171 | OrdinaryDividend |
| Dec 31, 2013 | $0.146 | OrdinaryDividend |
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 | 6.37 | 2.41 |