CVRD vs. SPHD ETF Comparison

Comparison of Madison Covered Call ETF (CVRD) to PowerShares S&P 500 High Dividend Portfolio (SPHD)

CVRD

Madison Covered Call ETF

CVRD Description

The fund will seek to achieve its objectives by (1) investing in common stocks of equity securities that pay dividends and (2) writing (i.e., selling) covered call options on a substantial portion of its portfolio of securities. Under normal market conditions, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in equity securities of companies, including other investment companies.

Grade (RS Rating)

Last Trade

$19.64

Average Daily Volume

6,647

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SPHD

PowerShares S&P 500 High Dividend Portfolio

SPHD Description

The PowerShares S&P 500® High Dividend Portfolio (the “Fund”) seeks investment results that generally correspond (before fees and expenses) to the price and yield of the S&P 500 Low Volatility High Dividend Index (the “Underlying Index”). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Underlying Index. Standard & Poor’s® compiles, maintains and calculates the Underlying Index, which is composed of 50 securities traded on the S&P 500 Index that historically have provided high dividend yields and low volatility. The Fund and the Index are rebalanced and reconstituted semi-annually, in January and July

Grade (RS Rating)

Last Trade

$51.14

Average Daily Volume

656,652

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CVRD	SPHD
30 Days	0.70%	1.23%
60 Days	1.14%	2.34%
90 Days	2.31%	5.44%
12 Months	9.31%	33.65%

4 Overlapping Holdings

Symbol	Grade	Weight in CVRD	Weight in SPHD	Overlap
CSCO	B	3.92%	1.68%	1.68%
JNJ	D	1.47%	1.3%	1.3%
MDT	D	2.82%	1.55%	1.55%
UPS	C	2.1%	1.98%	1.98%

CVRD Overweight 38 Positions Relative to SPHD

Symbol	Grade	Weight
LVS	C	3.7%
CME	A	3.69%
GOOG	C	3.44%
ADBE	C	3.24%
V	A	3.17%
PYPL	B	3.02%
STZ	D	2.89%
CMCSA	B	2.81%
TMUS	B	2.59%
ABT	B	2.55%
MSFT	F	2.49%
APD	A	2.37%
HON	B	2.35%
ACN	C	2.33%
AES	F	2.19%
A	D	2.18%
AMZN	C	2.08%
EMR	A	2.04%
MCHP	D	2.04%
ADM	D	1.98%
AMD	F	1.86%
TXN	C	1.77%
LH	C	1.72%
LOW	D	1.7%
AMT	D	1.67%
PEP	F	1.67%
MTDR	B	1.6%
APH	A	1.57%
HPE	B	1.54%
UNP	C	1.52%
GLW	B	1.43%
DHR	F	1.42%
COP	C	1.32%
FAST	B	1.26%
ROST	C	1.03%
RIG	D	0.83%
DLTR	F	0.8%
APA	D	0.66%

CVRD Underweight 46 Positions Relative to SPHD

Symbol	Grade	Weight
MO	A	-3.1%
BMY	B	-2.97%
KMI	A	-2.93%
T	A	-2.72%
VZ	C	-2.68%
CCI	D	-2.52%
OKE	A	-2.52%
SPG	B	-2.46%
VICI	C	-2.42%
D	C	-2.38%
PM	B	-2.32%
WMB	A	-2.28%
KVUE	A	-2.26%
K	A	-2.26%
GILD	C	-2.24%
ETR	B	-2.21%
EVRG	A	-2.18%
O	D	-2.14%
PFE	D	-2.13%
AMCR	D	-2.06%
PNW	B	-2.02%
VTRS	A	-2.01%
KHC	F	-1.94%
WEC	A	-1.93%
ES	D	-1.9%
LYB	F	-1.88%
EIX	B	-1.84%
CAG	D	-1.84%
FRT	B	-1.84%
HST	C	-1.82%
EXC	C	-1.8%
DOW	F	-1.8%
PRU	A	-1.78%
IBM	C	-1.77%
FE	C	-1.75%
IPG	D	-1.75%
DRI	B	-1.69%
DUK	C	-1.68%
CVX	A	-1.65%
GIS	D	-1.49%
SJM	D	-1.48%
OMC	C	-1.43%
HRL	D	-1.42%
XOM	B	-1.39%
EMN	D	-1.38%
ABBV	D	-1.37%