Madison Tax-Free Virginia Fund (GTVAX)
The fund invests at least 80% of its net assets (including borrowings for investment purposes) in municipal bonds that are exempt from federal and state income tax for residents of Virginia. 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
US5574924289
557492428
Oct 12, 1987
$1,000
Expense Ratio
GTVAX has an expense ratio of 0.86%, placing it in the medium range.
Share Price Chart
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Performance
Performance Chart
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Returns By Period
GTVAX
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^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of GTVAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -0.49% | 0.00% | 0.00% | 0.00% | -0.49% | ||||||||
| 2024 | -0.53% | -0.02% | -0.13% | -1.03% | -0.58% | 1.40% | 0.75% | 0.73% | 0.92% | -1.21% | 1.28% | -1.12% | 0.39% |
| 2023 | 2.15% | -2.23% | 1.84% | -0.42% | -0.86% | 0.63% | 0.07% | -0.97% | -2.30% | -0.81% | 4.68% | 2.17% | 3.77% |
| 2022 | -2.15% | -0.55% | -2.33% | -2.66% | 1.35% | -1.41% | 2.09% | -2.14% | -2.65% | -0.52% | 3.54% | 0.10% | -7.30% |
| 2021 | 0.15% | -1.36% | 0.31% | 0.56% | 0.12% | 0.06% | 0.46% | -0.29% | -0.71% | -0.14% | 0.56% | -0.25% | -0.53% |
| 2020 | 1.55% | 0.90% | -2.20% | -0.45% | 2.80% | 0.15% | 0.97% | -0.45% | -0.03% | -0.21% | 0.82% | 0.10% | 3.93% |
| 2019 | 0.69% | 0.46% | 1.13% | 0.10% | 1.12% | 0.49% | 0.68% | 1.34% | -0.69% | 0.05% | 0.04% | 0.20% | 5.76% |
| 2018 | -0.78% | -0.35% | 0.25% | -0.43% | 0.88% | 0.08% | 0.18% | 0.09% | -0.61% | -0.62% | 1.08% | 1.07% | 0.83% |
| 2017 | 0.39% | 0.54% | 0.17% | 0.60% | 1.06% | -0.35% | 0.43% | 0.51% | -0.44% | 0.09% | -0.78% | 0.59% | 2.82% |
| 2016 | 1.13% | 0.12% | 0.18% | 0.44% | 0.02% | 1.21% | -0.10% | 0.09% | -0.42% | -0.51% | -2.92% | 0.51% | -0.32% |
| 2015 | 1.68% | -1.23% | 0.47% | -0.48% | -0.24% | -0.12% | 0.55% | 0.11% | 0.72% | 0.28% | 0.18% | 0.35% | 2.27% |
| 2014 | 1.55% | 0.85% | 0.04% | 1.09% | 1.07% | -0.12% | 0.04% | 1.24% | -0.11% | 0.56% | 0.17% | -0.21% | 6.34% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of GTVAX is 42, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Madison Tax-Free Virginia Fund (GTVAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Madison Tax-Free Virginia Fund provided a 1.45% dividend yield over the last twelve months, with an annual payout of $0.15 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.15 | $0.22 | $0.20 | $0.19 | $0.22 | $0.20 | $0.24 | $0.22 | $0.24 | $0.27 | $0.32 | $0.40 |
Dividend yield | 1.45% | 2.07% | 1.80% | 1.74% | 1.91% | 1.70% | 2.01% | 1.96% | 2.08% | 2.35% | 2.73% | 3.47% |
Monthly Dividends
The table displays the monthly dividend distributions for Madison Tax-Free Virginia 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 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.01 | $0.00 | $0.00 | $0.00 | $0.01 | ||||||||
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.22 |
| 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 | $0.20 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.19 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.05 | $0.22 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2019 | $0.04 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.24 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.22 |
| 2017 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2016 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.27 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.06 | $0.32 |
| 2014 | $0.05 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.10 | $0.40 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Madison Tax-Free Virginia 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 Virginia Fund was 16.44%, occurring on Nov 21, 1994. Recovery took 268 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.44% | Oct 18, 1993 | 286 | Nov 21, 1994 | 268 | Nov 30, 1995 | 554 |
| -11.54% | Jul 28, 2021 | 315 | Oct 25, 2022 | — | — | — |
| -9.72% | Mar 10, 2020 | 9 | Mar 20, 2020 | 81 | Jul 16, 2020 | 90 |
| -8.92% | Sep 12, 2008 | 25 | Oct 16, 2008 | 57 | Jan 8, 2009 | 82 |
| -7.05% | Dec 10, 2012 | 186 | Sep 5, 2013 | 279 | Oct 14, 2014 | 465 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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