KNG vs. BHBFX

Last updated Apr 2, 2026

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

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. BHBFX is managed by Madison Funds. It was launched on Dec 18, 1986.

Performance

KNG vs. BHBFX - Performance Comparison

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

KNG vs. BHBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
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%
BHBFX Madison Dividend Income Fund	5.30%	8.19%	7.62%	1.76%	-5.50%	22.82%	6.34%	25.17%	3.21%

Returns By Period

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

KNG

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

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%

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

KNG vs. BHBFX - Expense Ratio Comparison

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

BHBFX

Madison Dividend Income Fund

KNG

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

Return for Risk

KNG vs. BHBFX — Risk / Return Rank

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

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

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

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.

KNG vs. BHBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) and Madison Dividend Income Fund (BHBFX). 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.

	KNG	BHBFX	Difference
Sharpe ratio Return per unit of total volatility	0.38	0.73	-0.35
Sortino ratio Return per unit of downside risk	0.64	1.10	-0.47
Omega ratio Gain probability vs. loss probability	1.08	1.16	-0.08
Calmar ratio Return relative to maximum drawdown	0.47	1.05	-0.58
Martin ratio Return relative to average drawdown	1.70	4.24	-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.

KNG vs. BHBFX - Sharpe Ratio Comparison

The current KNG Sharpe Ratio is 0.38, which is lower than the BHBFX Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of KNG and BHBFX, 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

	KNG	BHBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	0.73	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.39	+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	0.49	0.76	-0.27

Correlation

The correlation between KNG and BHBFX 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

KNG vs. BHBFX - Dividend Comparison

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

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
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%

Drawdowns

KNG vs. BHBFX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

KNG vs. BHBFX - Volatility Comparison

FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) has a higher volatility of 3.36% compared to Madison Dividend Income Fund (BHBFX) at 3.08%. This indicates that KNG's price experiences larger fluctuations and is considered to be riskier than BHBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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