DIVL ETF — Madison Dividend Value ETF

Madison Dividend Value ETF (DIVL)

Updated October 9, 2026.

DIVL is an ETF. its distribution rate is 2.00%, its trailing-12-month yield is 1.79%, its expense ratio is 0.65%. Dividend Vision Distribution Safety Score™ is 82/100 (Safe). Total return is 33.5% over the past 3.2 years, 49.4 points behind SPY at 82.9%.

At the current 2.00% distribution rate, a $10,000 investment would generate approximately $200 per year, or $16.67 per month.

Madison Dividend Value ETF is an equity fund that invests at least 80% of its assets in dividend-paying stocks of companies with market capitalizations exceeding $1 billion, focusing on those with histories of dividend growth; it may also allocate up to 50% of its stock holdings to foreign securities and ADRs. The fund distributes dividends monthly and carries a current distribution rate in the low single digits with an expense ratio of 0.65%. The fund appeals to income-focused investors seeking regular dividend payments combined with the potential for dividend appreciation over time.

DIVL performance versus SPY

Price and return data through 2026-10-09.

Total return is 33.5% over the past 3.2 years, 49.4 points behind SPY at 82.9%. Over the past year its total return — price change plus distributions reinvested — is 10.4%. Its deepest 1-year drawdown was 6.9%.

DIVL key facts

Distribution Safety Score™

82 · Safe

Safety-Adjusted Yield

1.64%

Issuer

Madison Asset Management, LLC

Asset type

ETF

Asset class

Equity

Inception date

08/14/2023

Expense ratio

0.65%

Distribution rate

2.00%

Distribution frequency

Monthly

Trailing yield

1.79%

Last close

$24.79 (as of 2026-10-09)

AUM

$59,520,928

Average volume

9.0

Dividend

$0.04137

Ex-dividend date

09/28/2026

Payment date

09/30/2026

Beta

0.52

P/E ratio

21.5189

How Dividend Vision calculates yield and returns

Distribution rate (2.00%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (1.79%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Madison Asset Management, LLC; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

DIVL risks and drawbacks

DIVL's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.9%.

Who may consider DIVL — and who may not

DIVL may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from Madison Asset Management, LLC.