JHQTX vs. MCN

Last updated Apr 3, 2026

Compare and contrast key facts about JPMorgan Hedged Equity 3 Fund (JHQTX) and XAI Madison Equity Premium Income Fund (MCN).

JHQTX is managed by JPMorgan. It was launched on Feb 25, 2021. MCN is managed by XAI. It was launched on Jan 1, 2015.

Performance

JHQTX vs. MCN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Hedged Equity 3 Fund (JHQTX) and XAI Madison Equity Premium Income Fund (MCN). The values are adjusted to include any dividend payments, if applicable.

JHQTX vs. MCN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHQTX JPMorgan Hedged Equity 3 Fund	-2.76%	9.32%	16.76%	18.60%	-14.49%	13.16%
MCN XAI Madison Equity Premium Income Fund	-0.34%	0.66%	-1.52%	7.02%	6.32%	22.48%

Returns By Period

In the year-to-date period, JHQTX achieves a -2.76% return, which is significantly lower than MCN's -0.34% return.

JHQTX

• 1D: 0.25%
• 1M: -2.25%
• YTD: -2.76%
• 6M: 0.01%
• 1Y: 9.48%
• 3Y*: 12.50%
• 5Y*: 6.64%
• 10Y*: —

MCN

• 1D: -0.97%
• 1M: -3.41%
• YTD: -0.34%
• 6M: -0.93%
• 1Y: 6.66%
• 3Y*: 0.33%
• 5Y*: 4.44%
• 10Y*: 8.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JHQTX vs. MCN - Expense Ratio Comparison

JHQTX has a 0.60% expense ratio, which is higher than MCN's 0.02% expense ratio.

JHQTX

JPMorgan Hedged Equity 3 Fund

MCN

XAI Madison Equity Premium Income Fund

Return for Risk

JHQTX vs. MCN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JHQTX

JHQTX Risk / Return Rank: 51
JHQTX Sharpe Ratio Rank: 46
JHQTX Sortino Ratio Rank: 48
JHQTX Omega Ratio Rank: 49
JHQTX Calmar Ratio Rank: 58
JHQTX Martin Ratio Rank: 55

MCN

MCN Risk / Return Rank: 10
MCN Sharpe Ratio Rank: 10
MCN Sortino Ratio Rank: 10
MCN Omega Ratio Rank: 11
MCN Calmar Ratio Rank: 10
MCN Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JHQTX vs. MCN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Hedged Equity 3 Fund (JHQTX) and XAI Madison Equity Premium Income Fund (MCN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	JHQTX	MCN	Difference
Sharpe ratio Return per unit of total volatility	1.05	0.40	+0.65
Sortino ratio Return per unit of downside risk	1.58	0.63	+0.95
Omega ratio Gain probability vs. loss probability	1.24	1.10	+0.14
Calmar ratio Return relative to maximum drawdown	1.73	0.48	+1.25
Martin ratio Return relative to average drawdown	6.76	1.66	+5.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHQTX vs. MCN - Sharpe Ratio Comparison

The current JHQTX Sharpe Ratio is 1.05, which is higher than the MCN Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of JHQTX and MCN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JHQTX	MCN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	0.40	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.24	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.27	+0.48

Correlation

The correlation between JHQTX and MCN is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

JHQTX vs. MCN - Dividend Comparison

JHQTX's dividend yield for the trailing twelve months is around 0.51%, less than MCN's 12.41% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHQTX JPMorgan Hedged Equity 3 Fund	0.51%	0.50%	0.70%	0.94%	1.99%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MCN XAI Madison Equity Premium Income Fund	12.41%	12.00%	10.73%	9.56%	9.29%	8.98%	10.67%	10.86%	11.69%	9.33%	9.35%	9.76%

Drawdowns

JHQTX vs. MCN - Drawdown Comparison

The maximum JHQTX drawdown since its inception was -18.72%, smaller than the maximum MCN drawdown of -65.11%. Use the drawdown chart below to compare losses from any high point for JHQTX and MCN.

Drawdown Indicators

	JHQTX	MCN	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-65.11%	+46.39%
Max Drawdown (1Y) Largest decline over 1 year	-5.78%	-12.11%	+6.33%
Max Drawdown (5Y) Largest decline over 5 years	-18.72%	-24.47%	+5.75%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.79%	—
Current Drawdown Current decline from peak	-4.13%	-6.83%	+2.70%
Average Drawdown Average peak-to-trough decline	-4.25%	-9.60%	+5.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	3.90%	-2.37%

Volatility

JHQTX vs. MCN - Volatility Comparison

The current volatility for JPMorgan Hedged Equity 3 Fund (JHQTX) is 2.92%, while XAI Madison Equity Premium Income Fund (MCN) has a volatility of 3.95%. This indicates that JHQTX experiences smaller price fluctuations and is considered to be less risky than MCN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHQTX	MCN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.95%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	5.80%	8.71%	-2.91%
Volatility (1Y) Calculated over the trailing 1-year period	9.50%	16.60%	-7.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.69%	18.31%	-8.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.66%	18.85%	-9.19%