Madison Tax-Free National Fund (GTFHX)
The fund invests at least 80% of its net assets (including borrowings for investment purposes) in municipal bonds that are exempt from federal income taxes. It only invests in investment grade bonds. Under normal market conditions, the fund will have an average duration range of 3 to 10 years, although it is expected to center around 3 to 7 years.
Fund Info
| ISIN | US5574924107 |
|---|---|
| CUSIP | 557492410 |
| Issuer | Madison Funds |
| Inception Date | Dec 29, 1982 |
| Category | Municipal Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
The Madison Tax-Free National Fund has a high expense ratio of 0.76%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Madison Tax-Free National Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Madison Tax-Free National Fund had a return of -1.32% year-to-date (YTD) and 1.17% in the last 12 months. Over the past 10 years, Madison Tax-Free National Fund had an annualized return of 1.75%, while the S&P 500 had an annualized return of 10.52%, indicating that Madison Tax-Free National Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -1.32% | 6.92% |
| 1 month | -0.99% | -2.83% |
| 6 months | 5.15% | 23.86% |
| 1 year | 1.17% | 23.33% |
| 5 years (annualized) | 0.77% | 11.66% |
| 10 years (annualized) | 1.75% | 10.52% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.17% | -0.12% | -0.14% | |||||||||
| 2023 | -2.16% | -0.75% | 4.68% | 1.82% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
Madison Tax-Free National Fund(GTFHX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Madison Tax-Free National Fund (GTFHX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Madison Tax-Free National Fund granted a 1.90% dividend yield in the last twelve months. The annual payout for that period amounted to $0.19 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.19 | $0.20 | $0.25 | $0.28 | $0.21 | $0.28 | $0.28 | $0.28 | $0.33 | $0.33 | $0.39 | $0.34 |
Dividend yield | 1.90% | 1.99% | 2.54% | 2.58% | 1.84% | 2.59% | 2.64% | 2.63% | 3.06% | 2.99% | 3.58% | 3.17% |
Monthly Dividends
The table displays the monthly dividend distributions for Madison Tax-Free National Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.02 | $0.02 | |||||||||
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 |
| 2022 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.08 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.11 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 |
| 2019 | $0.04 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.06 |
| 2017 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 |
| 2016 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.09 |
| 2015 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.08 |
| 2014 | $0.05 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.11 |
| 2013 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.05 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the Madison Tax-Free National Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Madison Tax-Free National Fund was 20.88%, occurring on Nov 22, 1994. Recovery took 641 trading sessions.
The current Madison Tax-Free National Fund drawdown is 4.40%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -20.88% | Oct 18, 1993 | 279 | Nov 22, 1994 | 641 | Jun 6, 1997 | 920 |
| -11.52% | Mar 11, 1987 | 153 | Oct 15, 1987 | 167 | Jun 14, 1988 | 320 |
| -10.29% | Mar 10, 2020 | 9 | Mar 20, 2020 | 92 | Jul 31, 2020 | 101 |
| -10.2% | Jul 28, 2021 | 315 | Oct 25, 2022 | — | — | — |
| -8.5% | Sep 12, 2008 | 24 | Oct 15, 2008 | 58 | Jan 9, 2009 | 82 |
Volatility
Volatility Chart
The current Madison Tax-Free National Fund volatility is 0.62%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.