DIVL vs. MAGG

Last updated Apr 1, 2026

Compare and contrast key facts about Madison Dividend Value ETF (DIVL) and Madison Aggregate Bond ETF (MAGG).

DIVL and MAGG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DIVL is an actively managed fund by Madison. It was launched on Aug 14, 2023. MAGG is an actively managed fund by Madison. It was launched on Aug 28, 2023.

Performance

DIVL vs. MAGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Dividend Value ETF (DIVL) and Madison Aggregate Bond ETF (MAGG). The values are adjusted to include any dividend payments, if applicable.

DIVL vs. MAGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DIVL Madison Dividend Value ETF	7.03%	9.83%	8.81%	1.86%
MAGG Madison Aggregate Bond ETF	-0.07%	7.28%	1.81%	4.42%

Returns By Period

In the year-to-date period, DIVL achieves a 7.03% return, which is significantly higher than MAGG's -0.07% return.

DIVL

• 1D: 0.94%
• 1M: -4.19%
• YTD: 7.03%
• 6M: 5.95%
• 1Y: 13.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAGG

• 1D: 0.24%
• 1M: -1.74%
• YTD: -0.07%
• 6M: 1.21%
• 1Y: 4.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVL vs. MAGG - Expense Ratio Comparison

DIVL has a 0.65% expense ratio, which is higher than MAGG's 0.40% expense ratio.

DIVL

Madison Dividend Value ETF

MAGG

Madison Aggregate Bond ETF

Return for Risk

DIVL vs. MAGG — Risk / Return Rank

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

DIVL

DIVL Risk / Return Rank: 52
DIVL Sharpe Ratio Rank: 51
DIVL Sortino Ratio Rank: 51
DIVL Omega Ratio Rank: 52
DIVL Calmar Ratio Rank: 51
DIVL Martin Ratio Rank: 56

MAGG

MAGG Risk / Return Rank: 58
MAGG Sharpe Ratio Rank: 58
MAGG Sortino Ratio Rank: 58
MAGG Omega Ratio Rank: 50
MAGG Calmar Ratio Rank: 74
MAGG Martin Ratio Rank: 52

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.

DIVL vs. MAGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Dividend Value ETF (DIVL) and Madison Aggregate Bond ETF (MAGG). 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.

	DIVL	MAGG	Difference
Sharpe ratio Return per unit of total volatility	0.96	1.06	-0.10
Sortino ratio Return per unit of downside risk	1.39	1.54	-0.15
Omega ratio Gain probability vs. loss probability	1.20	1.19	+0.01
Calmar ratio Return relative to maximum drawdown	1.33	1.98	-0.65
Martin ratio Return relative to average drawdown	5.61	5.09	+0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVL vs. MAGG - Sharpe Ratio Comparison

The current DIVL Sharpe Ratio is 0.96, which is comparable to the MAGG Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of DIVL and MAGG, 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

	DIVL	MAGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.06	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.08	-0.23

Correlation

The correlation between DIVL and MAGG is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DIVL vs. MAGG - Dividend Comparison

DIVL's dividend yield for the trailing twelve months is around 1.77%, less than MAGG's 4.74% yield.

	TTM	2025	2024	2023
DIVL Madison Dividend Value ETF	1.77%	1.80%	2.19%	1.01%
MAGG Madison Aggregate Bond ETF	4.74%	4.80%	5.13%	1.49%

Drawdowns

DIVL vs. MAGG - Drawdown Comparison

The maximum DIVL drawdown since its inception was -14.06%, which is greater than MAGG's maximum drawdown of -4.56%. Use the drawdown chart below to compare losses from any high point for DIVL and MAGG.

Drawdown Indicators

	DIVL	MAGG	Difference
Max Drawdown Largest peak-to-trough decline	-14.06%	-4.56%	-9.50%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-2.53%	-8.62%
Current Drawdown Current decline from peak	-4.36%	-1.74%	-2.62%
Average Drawdown Average peak-to-trough decline	-2.52%	-1.24%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	0.98%	+1.67%

Volatility

DIVL vs. MAGG - Volatility Comparison

Madison Dividend Value ETF (DIVL) has a higher volatility of 3.57% compared to Madison Aggregate Bond ETF (MAGG) at 1.54%. This indicates that DIVL's price experiences larger fluctuations and is considered to be riskier than MAGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVL	MAGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	1.54%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	2.99%	+5.00%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	4.50%	+9.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.45%	4.82%	+7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.45%	4.82%	+7.63%