BHBFX vs. KNG

Last updated Apr 2, 2026

Compare and contrast key facts about Madison Dividend Income Fund (BHBFX) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG).

BHBFX is managed by Madison Funds. It was launched on Dec 18, 1986. KNG is a passively managed fund by First Trust that tracks the performance of the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. It was launched on Mar 26, 2018.

Performance

BHBFX vs. KNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Dividend Income Fund (BHBFX) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). The values are adjusted to include any dividend payments, if applicable.

BHBFX vs. KNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BHBFX Madison Dividend Income Fund	5.30%	8.19%	7.62%	1.76%	-5.50%	22.82%	6.34%	25.17%	3.21%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	1.22%	6.63%	5.99%	7.48%	-7.03%	24.78%	7.21%	26.64%	-0.84%

Returns By Period

In the year-to-date period, BHBFX achieves a 5.30% return, which is significantly higher than KNG's 1.22% return.

BHBFX

• 1D: 0.39%
• 1M: -4.54%
• YTD: 5.30%
• 6M: 5.23%
• 1Y: 10.83%
• 3Y*: 8.48%
• 5Y*: 6.03%
• 10Y*: 9.64%

KNG

• 1D: -0.02%
• 1M: -6.54%
• YTD: 1.22%
• 6M: 3.22%
• 1Y: 5.13%
• 3Y*: 6.52%
• 5Y*: 5.64%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BHBFX vs. KNG - Expense Ratio Comparison

BHBFX has a 0.91% expense ratio, which is higher than KNG's 0.75% expense ratio.

BHBFX

Madison Dividend Income Fund

KNG

FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF

Return for Risk

BHBFX vs. KNG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BHBFX

BHBFX Risk / Return Rank: 29
BHBFX Sharpe Ratio Rank: 26
BHBFX Sortino Ratio Rank: 26
BHBFX Omega Ratio Rank: 25
BHBFX Calmar Ratio Rank: 33
BHBFX Martin Ratio Rank: 35

KNG

KNG Risk / Return Rank: 22
KNG Sharpe Ratio Rank: 22
KNG Sortino Ratio Rank: 22
KNG Omega Ratio Rank: 20
KNG Calmar Ratio Rank: 22
KNG Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BHBFX vs. KNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Dividend Income Fund (BHBFX) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BHBFX	KNG	Difference
Sharpe ratio Return per unit of total volatility	0.73	0.38	+0.35
Sortino ratio Return per unit of downside risk	1.10	0.64	+0.47
Omega ratio Gain probability vs. loss probability	1.16	1.08	+0.08
Calmar ratio Return relative to maximum drawdown	1.05	0.47	+0.58
Martin ratio Return relative to average drawdown	4.24	1.70	+2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BHBFX vs. KNG - Sharpe Ratio Comparison

The current BHBFX Sharpe Ratio is 0.73, which is higher than the KNG Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of BHBFX and KNG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BHBFX	KNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	0.38	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.42	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.49	+0.27

Correlation

The correlation between BHBFX and KNG is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BHBFX vs. KNG - Dividend Comparison

BHBFX's dividend yield for the trailing twelve months is around 11.38%, more than KNG's 8.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BHBFX Madison Dividend Income Fund	11.38%	12.41%	14.14%	6.01%	9.39%	11.53%	1.53%	3.95%	12.73%	3.89%	3.76%	6.06%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	8.67%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%	0.00%	0.00%	0.00%

Drawdowns

BHBFX vs. KNG - Drawdown Comparison

The maximum BHBFX drawdown since its inception was -34.07%, roughly equal to the maximum KNG drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for BHBFX and KNG.

Drawdown Indicators

	BHBFX	KNG	Difference
Max Drawdown Largest peak-to-trough decline	-34.07%	-35.12%	+1.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-10.55%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-23.80%	-18.20%	-5.60%
Max Drawdown (10Y) Largest decline over 10 years	-32.34%	—	—
Current Drawdown Current decline from peak	-4.79%	-6.79%	+2.00%
Average Drawdown Average peak-to-trough decline	-3.71%	-4.10%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.94%	-0.19%

Volatility

BHBFX vs. KNG - Volatility Comparison

The current volatility for Madison Dividend Income Fund (BHBFX) is 3.08%, while FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) has a volatility of 3.36%. This indicates that BHBFX experiences smaller price fluctuations and is considered to be less risky than KNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BHBFX	KNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	3.36%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	7.45%	7.47%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	14.32%	13.64%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	13.63%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.32%	17.30%	+0.02%