MBLNX — Madison Diversified Income Fund
Data updated: 2026-09-17
MBLNX — Madison Diversified Income Fund. United States Multi-Cap / All-Cap Blend / Core Equity · $100.47M AUM. Holdings, fees, performance and SEC filings.
MBLNX Fund Overview
MBLNX — Madison Diversified Income Fund is a US mutual fund managed by Madison Funds, categorised as United States Multi-Cap / All-Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Madison Funds
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $100.47M
- 1-year return: -44.1%
- Ticker: MBLNX
- SEC CIK: 0001040612
- SEC series ID: S000020653
- Share class ID: C000057659
MBLNX Investment Objective and Strategy
Madison Diversified Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Madison Funds.
Investment objective
The Madison Diversified Income Fund seeks a high total return through the combination of income and capital appreciation.
Principal investment strategy
"The fund seeks income by investing in a broadly diversified array of securities, including bonds, common stocks, real estate securities, foreign market bonds and stocks, and money market instruments. Bonds, stock and cash components will vary, reflecting the portfolio managers judgments of the relative availability of attractively yielding and priced stocks and bonds; however, under normal market conditions, the funds portfolio managers generally attempt to target a 40% bond and 60% stock investment allocation. Nevertheless, bonds (including investment grade, non-investment grade securities (i.e., junk bonds), and mortgage- or asset-backed) may constitute up to 80% of the funds assets, stocks (including common stocks, preferred stocks and convertible bonds) may constitute up to 70% of the funds assets, real estate securities may constitute up to 25% of the funds assets, foreign (including American Depositary Receipts (""ADRs"") and emerging market) stocks and bonds may constitute up to 25% of the funds assets, and money market instruments may constitute up to 25% of the funds assets.
Although the fund is permitted to invest up to 80% of its assets in lower credit quality bonds, under normal circumstances, the fund intends to limit the investment in lower credit quality bonds to less than 50% of the funds assets. With regard to the fixed income component of the fund, while there is no maturity strategy utilized, the fund is managed with the goal of being between 90-110% of the market benchmark duration. The weighted average life of the funds bond portfolio as of December 31, 2017 was 7.31 years. Duration is an approximation of the expected change in a debt securitys price given a 1% move in interest rates, using the following formula: [change in debt security value = (change in interest rates) x (duration) x (-1)]. By way of example, assume XYZ company issues a five year bond which has a duration of 4.5 years.
If interest rates were to instantly increase by 1%, the bond would be expected to decrease in value by approximately 4.5%. As of December 31, 2017, the duration of the funds bond portfolio was 5.35 years, and the duration of the benchmark index (which, for this purpose, is the Bank of America Merrill Lynch U.S. Corporate, Government & Mortgage Index), was 6.03 years. The balance between the two strategies of the fund -- i.e., fixed income investing and equity investing -- is determined after reviewing the risks associated with each type of investment, with the goal of meaningful risk reduction as market conditions demand. The fund may also invest in exchange traded funds (ETFs) that are registered investment companies and may also write (sell) covered call options, when deemed appropriate by the portfolio managers, in order to generate additional income through the collection of option premiums.
With regard to the equity portion of the fund, the fund generally holds 30-60 individual securities in its portfolio at any given time. This reflects the belief of the fund's investment adviser, Madison Asset Management, LLC (""Madison""), that your money should be invested in the Madison's top investment ideas, and that focusing on Madison's best investment ideas is the best way to achieve the funds investment objective. The fund typically sells a stock when the fundamental expectations for producing competitive yields at an acceptable level of price risk no longer apply, the price exceeds its intrinsic value or other stocks appear more attractive. The funds investment strategy reflects Madison's general Participate and Protect investment philosophy. Madisons expectation is that investors in the fund will participate in market appreciation during bull markets and experience something less than full participation during bear markets compared with investors in portfolios holding more speculative and volatile securities; therefore, this investment philosophy is intended to represent a conservative investment strategy.
There is no assurance that Madisons expectations regarding this investment strategy will be realized. Although the fund expects to pursue its investment objective utilizing its principal investment strategies regardless of market conditions, the fund may invest up to 100% in money market instruments. To the extent the fund engages in this temporary defensive position, the funds ability to achieve its investment objective may be diminished."
MBLNX Holdings
Top 10 holdings of Madison Diversified Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Madison Dividend Value ETF | 21.66% |
| Madison Short-Term Strategic Income ETF | 17.76% |
| Madison Aggregate Bond ETF | 16.80% |
| Madison Covered Call ETF | 11.77% |
| State Street SPDR Portfolio High Yield Bond ETF | 10.97% |
| Schwab US Dividend Equity ETF | 8.40% |
| VanEck J. P. Morgan EM Local Currency Bond ETF | 6.27% |
| Global X MLP ETF | 3.41% |
| iShares 5-10 Year Investment Grade Corporate Bond ETF | 2.00% |
| State Street Global Advisors | 1.26% |
MBLNX Portfolio Allocation
Asset-class allocation of Madison Diversified Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.0% |
| Cash & Equivalents | 1.3% |
MBLNX Performance
Total returns for MBLNX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -44.1% |
| 3 years (annualised) | -39.0% |
MBLNX Risk Information
Risk metrics for MBLNX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.0%
MBLNX Costs and Fees
MBLNX costs about $186 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.86%
- Gross expense ratio: 1.86%
- Portfolio turnover: 24%
- Brokerage commissions: 3.84 bps of average net assets (SEC N-CEN)
MBLNX Cashflows
Over the 12 months to 2026-04, Madison Diversified Income Fund had net outflows of $28.19M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$1.17M |
| 2026-03 | −$2.83M |
| 2026-02 | −$3.35M |
| 2026-01 | −$1.81M |
| 2025-12 | −$2.15M |
| 2025-11 | −$2.08M |
MBLNX Debt Constituents
No individual debt constituents are reported in Madison Diversified Income Fund's latest SEC N-PORT filing.
MBLNX Prospectus and SEC Filings
Official Madison Diversified Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-27
- Prospectus (485BPOS) — filed 2025-02-28
- Prospectus (485BPOS) — filed 2024-03-04
- Portfolio holdings (N-PORT) — filed 2026-09-17
- Portfolio holdings (N-PORT) — filed 2026-06-23
- Portfolio holdings (N-PORT) — filed 2026-03-23
- Annual census (N-CEN) — filed 2026-01-09
- Annual census (N-CEN) — filed 2025-01-08
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.