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 features an expense ratio of 0.86%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Madison Tax-Free Virginia 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 Virginia Fund had a return of -0.49% year-to-date (YTD) and 0.53% in the last 12 months. Over the past 10 years, Madison Tax-Free Virginia Fund had an annualized return of 1.02%, while the S&P 500 had an annualized return of 11.26%, indicating that Madison Tax-Free Virginia Fund did not perform as well as the benchmark.
GTVAX
-0.49%
-0.21%
-0.57%
0.53%
-0.49%
1.02%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
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% | -0.49% | |||||||||||
| 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 11, meaning it’s performing worse than 89% of other mutual funds on our website when it comes to balancing risk and reward. Below is 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.
Dividends
Dividend History
Madison Tax-Free Virginia Fund provided a 1.95% dividend yield over the last twelve months, with an annual payout of $0.21 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.21 | $0.22 | $0.20 | $0.19 | $0.19 | $0.20 | $0.24 | $0.22 | $0.24 | $0.25 | $0.28 | $0.33 |
Dividend yield | 1.95% | 2.07% | 1.80% | 1.74% | 1.60% | 1.65% | 2.01% | 1.96% | 2.08% | 2.19% | 2.42% | 2.82% |
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 | $0.01 | ||||||||||
| 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 | $0.01 | $0.19 |
| 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 | $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 | $0.02 | $0.25 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2014 | $0.05 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.33 |
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.
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.
The current Madison Tax-Free Virginia Fund drawdown is 4.80%.
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 current Madison Tax-Free Virginia Fund volatility is 0.24%, 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.