- Issuer
- XAI
- Inception Date
- Jan 1, 2015
- Category
- Options Trading
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
MCN Performance Chart
XAI Madison Equity Premium Income Fund (MCN) is down 2.1% since the beginning of the year. MCN is currently trading at $6 per share. Investors who bought $1,000 worth of MCN shares 5 years ago would now be looking at an investment worth $1,152.
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Returns By Period
XAI Madison Equity Premium Income Fund (MCN) has returned -2.05% so far this year and 3.21% over the past 12 months. Over the last ten years, MCN has returned 7.57% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
XAI Madison Equity Premium Income Fund
- 1D
- -0.36%
- 1M
- -4.15%
- YTD
- -2.05%
- 6M
- -0.39%
- 1Y
- 3.21%
- 3Y*
- 2.01%
- 5Y*
- 2.87%
- 10Y*
- 7.57%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MCN Monthly Returns History
Based on dividend-adjusted daily data since Aug 2, 2004, MCN's average daily return is +0.03%, while the average monthly return is +0.55%. At this rate, an investment would double in approximately 10.5 years.
Historically, 58% of months were positive and 42% were negative. The best month was Oct 2022 with a return of +21.2%, while the worst month was Oct 2008 at -16.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 8 months.
On a daily basis, MCN closed higher 50% of trading days. The best single day was Oct 13, 2008 with a return of +14.9%, while the worst single day was Mar 12, 2020 at -12.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.50% | 3.16% | -4.38% | 4.31% | -1.65% | -4.64% | -2.05% | ||||||
| 2025 | -2.38% | -1.83% | -1.85% | -7.65% | 8.38% | 5.00% | -0.17% | 3.26% | -1.43% | -1.64% | 0.35% | 1.53% | 0.66% |
| 2024 | -5.98% | 2.12% | 3.63% | -4.10% | 3.14% | 7.74% | -2.76% | -0.95% | -0.31% | -3.65% | 3.06% | -2.58% | -1.52% |
| 2023 | 3.74% | -0.00% | 1.15% | 5.41% | -11.81% | 2.56% | 1.49% | -1.66% | -1.83% | -3.25% | 5.55% | 6.92% | 7.02% |
| 2022 | -3.49% | -0.00% | 4.73% | -6.31% | -2.70% | -3.61% | 2.36% | 9.94% | -13.36% | 21.21% | -1.28% | 2.61% | 6.32% |
| 2021 | 2.22% | 3.77% | 8.10% | 5.16% | 2.64% | 1.31% | 0.62% | 1.60% | -3.02% | 2.17% | -1.62% | 3.98% | 29.92% |
Benchmark Metrics
XAI Madison Equity Premium Income Fund has an annualized alpha of -0.70%, beta of 0.75, and R2 of 0.50 versus S&P 500 Index. Calculated based on daily prices since August 02, 2004.
- This fund participated in 86.78% of S&P 500 Index downside but only 71.40% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.50 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -0.70%
- Beta
- 0.75
- R²
- 0.50
- Upside Capture
- 71.40%
- Downside Capture
- 86.78%
Expense Ratio
MCN has an expense ratio of 0.02%, which is considered low.
Return for Risk
Risk / Return Rank
MCN ranks 5 for risk / return — in the bottom 5% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for XAI Madison Equity Premium Income Fund (MCN) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MCN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.37 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 2.78 | -2.41 |
| Martin ratioReturn relative to average drawdown | 1.11 | 12.44 | -11.33 |
Dividends
Dividend History
XAI Madison Equity Premium Income Fund provided a 13.02% dividend yield over the last twelve months, with an annual payout of $0.72 per share. The fund has been increasing its distributions for 15 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 | $0.72 |
Dividend yield | 13.02% | 12.00% | 10.73% | 9.56% | 9.29% | 8.98% | 10.67% | 10.86% | 11.69% | 9.33% | 9.35% | 9.76% |
Monthly Dividends
The table displays the monthly dividend distributions for XAI Madison Equity Premium Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.36 | ||||||
| 2025 | $0.00 | $0.00 | $0.18 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.72 |
| 2024 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.72 |
| 2023 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.72 |
| 2022 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.72 |
| 2021 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.72 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the XAI Madison Equity Premium Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the XAI Madison Equity Premium Income Fund was 65.11%, occurring on Mar 9, 2009. Recovery took 1170 trading sessions.
The current XAI Madison Equity Premium Income Fund drawdown is 8.42%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -65.11%Mar 2009 | 1y 10mo | 4y 7mo | 6y 6moApr 2007 - Oct 2013 |
COVID crash2020 | -38.79%Mar 2020 | 2mo 2d | 7mo 28d | 10moJan 2020 - Nov 2020 |
2025 selloff2025 | -24.47%Apr 2025 | 9mo 10d | — | 1y 11moJul 2024 - now |
Rate-hike selloffLate 2018 | -22.90%Dec 2018 | 2mo 22d | 1y 22d | 1y 3moOct 2018 - Jan 2020 |
Bear market2022 | -19.58%Sep 2022 | 18d | 3mo 13d | 4mo 1dSep 2022 - Jan 2023 |
Drawdown Indicators
| MCN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.11% | -56.78% | -8.33% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -9.10% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -24.47% | -18.90% | -5.57% |
Max Drawdown (5Y)Largest decline over 5 years | -24.47% | -25.43% | +0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -38.79% | -33.92% | -4.87% |
Current DrawdownCurrent decline from peak | -8.42% | -1.80% | -6.62% |
Average DrawdownAverage peak-to-trough decline | -9.55% | -10.71% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 2.03% | +0.88% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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