Fund Evaluator:
Madison Aggressive Allocation A (MAGSX)
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Fund Details
Madison Aggressive Allocation A Overview
Madison Aggressive Allocation A (MAGSX) is an actively managed Allocation Moderately Aggressive Allocation fund. Madison Funds launched the fund in 2006.
The investment seeks capital appreciation. The fund invests primarily in shares of other registered investment companies (the "underlying funds"). Under normal circumstances, the fund's total net assets will be allocated among various asset classes and underlying funds, including those whose shares trade on a stock exchange, with target allocations over time of approximately 80% equity investments and 20% fixed income investments.
About Madison Aggressive Allocation A (MAGSX)
There are 2 members of the management team with an average tenure of 11.10 years: Patrick Ryan (2008), Stuart Dybdahl (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 4 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100%, Bloomberg US Agg Bond TR USD index with a weighting of 20%, Russell 3000 TR USD index with a weighting of 56% and MSCI ACWI Ex USA NR USD index with a weighting of 24%. Madison Aggressive Allocation A has 17 securities in its portfolio. The top 10 holdings constitute 79.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Madison Aggressive Allocation A is part of the Allocation global asset class and is within the Allocation fund group. Madison Aggressive Allocation A has 23.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 57.2%. There is 23.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 15.4% (15.1% domestic bond, 0.3% foreign bond and 0.0% convertible bond). Madison Aggressive Allocation A has 4.2% of the portfolio in cash.
Assets Under Management
The fund has $57 million in total assets, which is below the $572 million average for the Moderately Aggressive Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MAGSX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Madison Aggressive Allocation A expense ratio is high compared to funds in the Moderately Aggressive Allocation category. Madison Aggressive Allocation A has an expense ratio of 1.00%, which is 3% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Madison Aggressive Allocation A has a portfolio turnover rate of 45%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 34% for the Moderately Aggressive Allocation category.
Recently, in the month of August 2026, Madison Aggressive Allocation A returned 3.2%, which earned it a grade of A, as the Moderately Aggressive Allocation category had an average return of 1.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Madison Aggressive Allocation A has a trailing yield of 1.43%, which is below the 1.45% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Madison Aggressive Allocation A Grades
Year to date, the fund has returned 14.9%, 3.0 percentage points better than the category, which translates into a grade of A. The fund has returned 19.6% over the past year (grade of A), 13.6% over the past three years (grade of F) and 6.3% per year over the past five years (grade of F) and 7.9% per year over the past 10 years (grade of F).
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MAGSX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MAGSX Return (NAV) | 3.2% | 3.8% | 19.6% | 13.6% | 6.3% | 7.9% |
| MAGSX Grade | A | A | A | F | F | F |
| +/- Category | 1.3% | 1.8% | 2.0% | -3.1% | -2.3% | -2.5% |
| Moderately Aggressive Allocation Avg | 1.9% | 2.0% | 17.7% | 16.6% | 8.7% | 10.4% |
| MAGSX Tax Cost Ratio | na | na | 1.6% | 1.2% | 1.5% | 1.6% |
MAGSX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MAGSX Return (NAV) | 14.9% | 12.5% | 8.9% | 12.3% | -15.4% | 9.5% | 9.6% | 19.2% | -6.6% | 18.0% | 7.9% |
| MAGSX Grade | A | F | F | F | B | F | D | F | C | C | C |
| +/- Category | 3.0% | -3.5% | -6.8% | -4.2% | 0.3% | -8.6% | -3.4% | -3.4% | 0.4% | 0.8% | -1.4% |
| Moderately Aggressive Allocation Avg | 11.8% | 16.0% | 15.7% | 16.5% | -15.7% | 18.1% | 13.0% | 22.6% | -7.0% | 17.2% | 9.3% |
| Risk Measures | |
| Standard Deviation: | 9.8% |
| Total Risk Index: | 0.81 - Average |
| Category Risk Index: | 0.89 - Low |
| Category Risk Grade: | A (14% Rank) |
| Beta: | 1.02 |
| R-Squared: | 91% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $57 Mil |
| Fund Total Assets: | $ 57 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 45% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 18.7 years | |||
| Average Tenure: 11.1 years | |||
| Managers (Year): Ryan Patrick (2008), Dybdahl Stuart (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 17 |
| % in Top 10 Holdings: | 79.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 23.6% |
Portfolio Allocation |
|
| Domestic Stock: | 57.2% |
| Foreign Stock: | 23.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 15.1% |
| Foreign Bond: | 0.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.2% |
Purchase Information
| Fund Family: | Madison Funds |
| Phone Number: | 800-877-6089 |
| Website: | www.madisonfunds.com |
| Status: | Open |
| Inception Date: | June 30, 2006 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.00% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Madison Aggressive Allocation A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
