Madison Dividend Value ETF (DIVL) Performance
DIVL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.9% since Dec 31, 2025
- 1 year
- +15.6% total return
- 3 years
- +14.5% a year
- Since first price
- +11.1% a year since 2023
DIVL trailing returns vs SPY, QQQ, AGG
| Period | DIVL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +5.3% | +5.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.9% | +3.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.6% | +3.6% | +7.8% | +8.4% | −1.5% |
| YTD | +14.9% | +13.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.6% | +13.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +49.9%+14.5%/yr | +40.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionAug 15, 2023 | +40.0%+11.1%/yr | +31.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DIVL vs SPY
From Aug 15, 2023: DIVL grew to $13,998, SPY to $17,855.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DIVL returns by calendar year
2 of 2 full years positive. Best 2025 (+10.0%), worst 2024 (+8.8%). 2026 is year to date.
DIVL annual returns table
| Year | DIVL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.9% | −6.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +10.0% | −12.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +8.8% | −7.5% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DIVL largest drawdowns
Now 0.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 29, 2024 | −14.1% | Apr 8, 2025 | Jul 2, 2025 | 4 months | 7 months |
| Sep 14, 2023 | −10.1% | Oct 27, 2023 | Dec 14, 2023 | 43 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DIVL risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +11.0% | +9.1% |
| Volatility (annualized) | 11.9% | 12.1% |
| Sharpe ratio | 0.57 | 0.42 |
| Sortino ratio | 0.86 | 0.62 |
| Best month | +6.6% | +6.6% |
| Worst month | −6.6% | −6.6% |
| Best 12 months | +23.2% | +23.2% |
| Worst 12 months | +2.9% | +2.9% |
| Positive months | 64% | 62% |
| Beta vs S&P 500 | 0.52 | — |
| Correlation with S&P 500 | 0.55 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DIVL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 27 | +2.9% | +12.6% | +23.2% | 100% |
| 3-year (a year) | 3 | +11.0% | +11.1% | +14.9% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
DIVL performance overview
Madison Dividend Value ETF (DIVL) returned +15.6% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +11.1% a year, turning $10,000 into about $13,998. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −14.1%, from Nov 29, 2024 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 12.1% a year.
Related: DIVL chart, DIVL holdings, DIVL dividends, DIVL valuation. See the DIVL overview for the latest quote and fund facts.
DIVL performance FAQ
What is the DIVL return over the past year?
DIVL returned +15.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.5%.
How much would $10,000 invested in DIVL be worth?
$10,000 invested in DIVL at its first recorded close on August 15, 2023 would be worth about $13,998 on October 23, 2026 with distributions reinvested.
What was the worst year for DIVL?
The worst calendar year was 2024, with a total return of +8.8%. The best was 2025 at +10.0%.
What is the biggest drawdown of DIVL?
The largest peak-to-trough decline was −14.1% between November 29, 2024 and April 8, 2025. It recovered to the old high on July 2, 2025, 3 months after the bottom.
How volatile is DIVL?
Over the past 3 years DIVL had an annualized volatility of 11.9% and a Sharpe ratio of 0.57 (excess return over 1–3 month T-bills per unit of risk).