The Fund does not have a performance history. Once available, the Fund’s performance information, and information that gives some indication of the risks of an investment in the Fund by comparing the Fund’s performance with a broad measure of market performance, will be available on the Fund’s website at www.madisonfunds.com.
The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
The following performance information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance over time. The following bar chart shows the Fund’s annual returns. The table illustrates how the Fund’s average annual returns for the 1-year and since inception periods compare with those of a broad measure of market performance. Performance is also shown for the Bloomberg U.S. 1-5 Year Government/Credit Index, which more closely represents the exposure sought by the Fund than the broad-based securities market index. The Fund’s past performance, before and after taxes, does not necessarily indicate how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.madisonfunds.com.
The Fund’s calendar year-to-date return as of September 30, 2026 was -0.41%.
During the period of time shown in the bar chart, the highest return for a calendar quarter was 3.32% (quarter ended September 30, 2024) and the lowest return for a calendar quarter was -0.36% (quarter ended December 31, 2024).
| 1 Year | Since
Inception (9/5/2023) | |
| Return Before Taxes | 6.72% | 6.66% |
| Return After Taxes on Distributions | 4.46% | 4.38% |
| Return After Taxes on Distributions and Sale of Fund Shares | 4.00% | 4.13% |
| Bloomberg
U.S. Aggregate Bond Index2 (reflects no deduction for fees, expenses, or taxes) |
7.30% | 5.90% |
Bloomberg U.S. 1-5 Year Government/Credit Index1 (reflects no deduction for fees, expenses, or taxes) |
6.11% | 5.69% |
| 1 | The Bloomberg U.S. 1-5 Year Govt/Credit Index is an unmanaged index which is a component of the US Government/Credit Index, which includes Treasury and agency securities (US Government Bond Index) and publicly issued US corporate and foreign debentures and secured notes (US Credit Bond Index). The bonds in the index are investment grade with a maturity between one and five years. Investors cannot invest directly in an index. |
| 2 | The Bloomberg U.S. Aggregate Bond Index is an unmanaged index measures the performance of that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. This includes Treasuries, government-related and corporate securities, mortgage-backed securities, asset-backed securities and collateralized mortgage-backed securities. Investors cannot invest directly in an index. |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred or other tax-advantaged arrangements such as an individual retirement account (“IRA”). In certain cases, the figures representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.
The following performance information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance over time. The following bar chart shows the Fund’s annual returns. The table illustrates how the Fund’s average annual returns for the 1-year and since inception periods compare with those of a broad measure of market performance. The Fund’s past performance, before and after taxes, does not necessarily indicate how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.madisonfunds.com.
The Fund’s calendar year-to-date return as of September 30, 2026 was -3.26%.
During the period of time shown in the bar chart, the highest return for a calendar quarter was 4.77% (quarter ended September 30, 2024) and the lowest return for a calendar quarter was -2.90% (quarter ended December 31, 2024).
| 1 Year | Since
Inception (8/28/2023) | |
| Return Before Taxes | 7.69% | 6.08% |
| Return After Taxes on Distributions | 5.60% | 4.00% |
| Return After Taxes on Distributions and Sale of Fund Shares | 4.52% | 3.76% |
| Bloomberg
U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes) |
7.30% | 5.72% |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred or other tax-advantaged arrangements such as an individual retirement account (“IRA”). In certain cases, the figures representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.
The following performance information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance over time. The following bar chart shows the Fund’s annual returns. The table illustrates how the Fund’s average annual returns for the 1-year and since inception periods compare with those of a broad measure of market performance. Performance is also shown for the CBOE S&P 500 BuyWrite Monthly Index, which more closely represents the exposure sought by the Fund than the broad-based securities market index. The Fund’s past performance, before and after taxes, does not necessarily indicate how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.madisonfunds.com.
The Fund’s calendar year-to-date return as of September 30, 2026 was 2.51%.
During the period of time shown in the bar chart, the highest return for a calendar quarter was 7.33% (quarter ended June 30, 2025) and the lowest return for a calendar quarter was -4.59% (quarter ended March 31, 2025).
| 1 Year | Since
Inception (8/21/2023) | |
| Return Before Taxes | 5.75% | 6.89% |
| Return After Taxes on Distributions | 2.86% | 3.12% |
| Return After Taxes on Distributions and Sale of Fund Shares | 3.65% | 3.84% |
| S&P
500 Total Return Index1 (reflects no deduction for fees, expenses, or taxes) |
17.88% | 22.25% |
CBOE S&P 500 BuyWrite Monthly Index2 (reflects no deduction for fees, expenses, or taxes) |
8.91% | 13.24% |
| 1 | The S&P 500 Total Return Index is an unmanaged composite of 500 large capitalization companies and includes the reinvestment of dividends. The Index is widely used by professional investors as a performance benchmark for large-cap stocks. Investors cannot invest directly in an index. |
| 2 | CBOE S&P 500 BuyWrite Index is a benchmark index designed to show the hypothetical performance of a portfolio that engages in a buywrite strategy using S&P 500 index call options. Investors cannot invest directly in an index. |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred or other tax-advantaged arrangements such as an individual retirement account (“IRA”). In certain cases, the figures representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.
The following performance information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance over time. The following bar chart shows the Fund’s annual returns. The table illustrates how the Fund’s average annual returns for the 1-year and since inception periods compare with those of a broad measure of market performance. Performance is also shown for the S&P 500 Dividend Aristocrats Index, which more closely represent the exposure sought by the Fund than the broad-based securities market index. Effective 10/31/2026, The Fund’s primary benchmark was changed from the Russell 1000 Value Total Return Index to the S&P 500 Dividend Aristocrats Index to provide a better comparison against the Fund’s investment strategy and underlying investment universe. The secondary benchmark Lipper Equity Income Funds Index was dropped as it did not align with the Fund’s investment strategy. The Fund’s past performance, before and after taxes, does not necessarily indicate how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.madisonfunds.com.
The Fund’s calendar year-to-date return as of September 30, 2026 was 7.41%.
During the period of time shown in the bar chart, the highest return for a calendar quarter was 9.04% (quarter ended September 30, 2024) and the lowest return for a calendar quarter was -4.28% (quarter ended June 30, 2024).
| 1 Year | Since
Inception (8/14/2023) | |
| Return Before Taxes | 9.73% | 8.14% |
| Return After Taxes on Distributions | 9.25% | 7.59% |
| Return After Taxes on Distributions and Sale of Fund Shares | 6.08% | 6.24% |
| S&P
500 Total Return Index1 (reflects no deduction for fees, expenses, or taxes) |
17.88% | 21.05% |
S&P 500 Dividend Aristocrats Index2 (reflects no deduction for fees, expenses, or taxes) |
7.28% | 6.61% |
| Russell 1000
Value Total Return Index3 (reflects no deduction for fees, expenses, or taxes) |
15.91% | 14.49% |
| 1 | The S&P 500 Total Return Index is an unmanaged composite of 500 large capitalization companies and includes the reinvestment of dividends. The Index is widely used by professional investors as a performance benchmark for large-cap stocks. Investors cannot invest directly in an index. |
| 2 | The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 companies that have increased dividends every year for the last 25 consecutive years. Investors cannot invest directly in an index. |
| 3 | The Russell 1000 Value Index measures the performance of large- and mid-capitalization U.S. stocks that exhibit value characteristics as determined by FTSE Russell. Returns for the Russell 1000 Value Index include the reinvestment of dividends. Investors cannot invest directly in an index. |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred or other tax-advantaged arrangements such as an individual retirement account (“IRA”). In certain cases, the figures representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.