# CVRD (Madison Covered Call ETF)

Madison · Income ETFs · data as of Sep 11, 2026

Over the year to Sep 11, 2026, CVRD paid 7.4% in cash and still finished 11.0 points behind SPY.

## Key facts

- CVRD, cash paid, 1 year, on its starting price: 7.4%, as of Sep 11, 2026.
- CVRD, total return, 1 year: +6.5%, as of Sep 11, 2026.
- CVRD, against SPY: −11.0 pts, as of Sep 11, 2026.
- CVRD, latest payout, annualized: 6.4%, as of Sep 11, 2026.
- CVRD, net assets: $32m (SEC filing, whole fund, as filed for Jun 30, 2026).
- CVRD, expense ratio: 0.92% (485BPOS XBRL, Oct 27, 2025).

## CVRD over each window to Sep 11, 2026

| Window | Cash paid | Price | Total return | SPY | Ahead or behind |
| --- | --- | --- | --- | --- | --- |
| 3 months | 1.6% | +1.1% | +2.8% | +3.3% | −0.5 pts |
| 6 months | 3.3% | +2.7% | +6.2% | +16.0% | −9.8 pts |
| 1 year | 7.4% | −1.3% | +6.5% | +17.5% | −11.0 pts |
| 3 years | 25.9% | −8.1% | +20.7% | +77.9% | −57.1 pts |
| Since launch | 26.3% | −6.7% | +22.6% | +81.1% | −58.5 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Strategy | covered call | ETFIQ |
| Benchmark | S&P 500 (SPY), used as a default proxy (proxy) | ETFIQ |
| Pays | quarterly | ETFIQ |
| Net assets | $32m | SEC filing, whole fund, as filed for Jun 30, 2026 |
| Latest payout, annualized | 6.4% | ETFIQ |
| Expense ratio | 0.92% | 485BPOS XBRL, Oct 27, 2025 |
| Cash paid, last 12 months, over today’s price | 7.5% | ETFIQ |
| Launched | Aug 22, 2023 | ETFIQ |
| Pays | quarterly | ETFIQ |
| Typical gap between ex-dates | 91 days | ETFIQ |
| Typical wait from ex-date to payment | 2 days | ETFIQ |
| Last paid, per share | $0.3 ex Jun 26, 2026 | ETFIQ |
| Sum of the last 12 distributions | $5.2638 | ETFIQ |

## Questions

### How much has CVRD paid over the last year?

Over the year to Sep 11, 2026, CVRD paid 7.4% of its starting price in cash distributions, while the price fell 1.3%.

### Is CVRD ahead of SPY?

Over the year to Sep 11, 2026, with every distribution reinvested, CVRD returned +6.5% against +17.5% for S&P 500 (SPY), used as a default proxy, so a holder was behind it by 11.0 points.

### How often does CVRD pay, and how much?

CVRD pays quarterly. The latest distribution annualizes to 6.4% at its price on Sep 11, 2026, which is not a promise; the next one can differ.

### When does CVRD next pay a distribution?

CVRD pays quarterly. The last distribution went ex on Jun 26, 2026 at $0.3 a share. The next is not declared; on a cadence of about 91 days the ex-date falls near Sep 25, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.

### What does CVRD cost?

The prospectus expense ratio is 0.92% a year.


## Cite this page

ETFIQ, CVRD, data as of Sep 11, 2026. https://etfiq.com/funds/cvrd
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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