- ISIN
- US5574927415
- CUSIP
- 557492741
- Issuer
- Madison
- Inception Date
- Feb 7, 2013
- Category
- Mid Cap Blend Equities
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
MERAX Performance Chart
Madison Mid Cap A (MERAX) is up 7.7% since the beginning of the year. MERAX is currently trading at $16 per share. Investors who bought $1,000 worth of MERAX shares 5 years ago would now be looking at an investment worth $1,428.
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Returns By Period
Madison Mid Cap A (MERAX) has returned 7.68% so far this year and 11.43% over the past 12 months. Over the last ten years, MERAX has returned 10.77% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Madison Mid Cap A
- 1D
- -0.69%
- 1M
- 2.46%
- 6M
- 3.80%
- YTD
- 7.68%
- 1Y
- 11.43%
- 3Y*
- 9.14%
- 5Y*
- 7.38%
- 10Y*
- 10.77%
- ALL TIME*
- 4.41%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
MERAX Monthly Returns History
Based on dividend-adjusted daily data since Mar 20, 2000, MERAX's average daily return is +0.03%, while the average monthly return is +0.50%. At this rate, an investment would double in approximately 11.6 years.
Historically, 59% of months were positive and 41% were negative. The best month was Apr 2009 with a return of +22.0%, while the worst month was Oct 2008 at -25.0%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 6 months.
On a daily basis, MERAX closed higher 50% of trading days. The best single day was Oct 13, 2008 with a return of +12.8%, while the worst single day was Mar 16, 2020 at -12.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.74% | -0.52% | -7.37% | 2.63% | 0.14% | 5.60% | 3.80% | 7.68% | |||||
| 2025 | 4.32% | -3.25% | -5.14% | -0.56% | 4.12% | 1.54% | -1.98% | 3.30% | 0.52% | -1.88% | 0.33% | 0.35% | 1.21% |
| 2024 | 0.76% | 5.70% | 2.86% | -7.70% | 4.04% | -0.39% | 3.96% | 1.71% | 1.19% | -3.21% | 8.35% | -6.61% | 9.80% |
| 2023 | 7.14% | -0.80% | -1.13% | -0.08% | -1.80% | 9.09% | 2.98% | -0.82% | -4.04% | -1.25% | 9.40% | 5.67% | 25.84% |
| 2022 | -8.26% | -2.53% | 2.35% | -5.78% | 1.18% | -6.64% | 8.90% | -3.68% | -7.97% | 7.65% | 7.45% | -5.37% | -13.94% |
| 2021 | -3.39% | 3.06% | 5.86% | 5.04% | 0.63% | 0.70% | 1.71% | 2.29% | -4.85% | 7.21% | -0.80% | 6.45% | 25.72% |
Benchmark Metrics
Madison Mid Cap A has an annualized alpha of -1.53%, beta of 1.01, and R2 of 0.84 versus S&P 500 Index. Calculated based on daily prices since March 20, 2000.
- This fund participated in 109.84% of S&P 500 Index downside but only 101.96% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.01 and R2 of 0.84, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -1.53%
- Beta
- 1.01
- R²
- 0.84
- Upside Capture
- 101.96%
- Downside Capture
- 109.84%
Expense Ratio
MERAX has a high expense ratio of 1.39%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MERAX ranks 13 for risk / return — above 13% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Madison Mid Cap A (MERAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MERAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 2.00 | -1.30 |
| Martin ratioReturn relative to average drawdown | 1.66 | 8.49 | -6.83 |
Dividends
Dividend History
Madison Mid Cap A provided a 3.15% dividend yield over the last twelve months, with an annual payout of $0.50 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.50 | $0.50 | $0.86 | $0.17 | $0.25 | $0.64 | $0.42 | $0.43 | $0.68 | $0.35 | $0.38 | $0.50 |
Dividend yield | 3.15% | 3.39% | 5.74% | 1.21% | 2.11% | 4.66% | 3.65% | 3.96% | 7.92% | 3.73% | 4.50% | 6.29% |
Monthly Dividends
The table displays the monthly dividend distributions for Madison Mid Cap A. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.50 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.86 | $0.86 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.17 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.25 | $0.25 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.64 | $0.64 |
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 Mid Cap A. 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 Mid Cap A was 73.13%, occurring on Mar 9, 2009. Recovery took 1503 trading sessions.
The current Madison Mid Cap A drawdown is 0.69%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-73.13%Mar 2009 | 8y 11mo | 5y 11mo | 14y 11moMar 2000 - Feb 2015 | Financial crisis2007–2009 |
-38.26%Mar 2020 | 1mo 2d | 8mo 6d | 9mo 8dFeb 2020 - Nov 2020 | COVID crash2020 |
-22.10%Jun 2022 | 5mo 14d | 1y 1mo | 1y 6moJan 2022 - Jul 2023 | Bear market2022 |
-19.78%Apr 2025 | 4mo 13d | 1y 3mo | 1y 8moNov 2024 - Jul 2026 | 2025 selloff2025 |
-16.86%Dec 2018 | 3mo 4d | 2mo 27d | 6mo 1dSep 2018 - Mar 2019 | Rate-hike selloffLate 2018 |
Drawdown Indicators
| MERAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.13% | -56.78% | -16.35% |
Max Drawdown (1Y)Largest decline over 1 year | -12.02% | -9.10% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -19.78% | -18.90% | -0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -22.10% | -25.43% | +3.33% |
Max Drawdown (10Y)Largest decline over 10 years | -38.26% | -33.92% | -4.34% |
Current DrawdownCurrent decline from peak | -0.69% | -1.58% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -25.24% | -10.70% | -14.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 2.14% | +2.94% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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