MCN vs. JHQDX

Last updated Apr 3, 2026

Compare and contrast key facts about XAI Madison Equity Premium Income Fund (MCN) and JPMorgan Hedged Equity 2 Fund Class I (JHQDX).

MCN is managed by XAI. It was launched on Jan 1, 2015. JHQDX is managed by JPMorgan. It was launched on Feb 26, 2021.

Performance

MCN vs. JHQDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in XAI Madison Equity Premium Income Fund (MCN) and JPMorgan Hedged Equity 2 Fund Class I (JHQDX). The values are adjusted to include any dividend payments, if applicable.

MCN vs. JHQDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MCN XAI Madison Equity Premium Income Fund	-0.34%	0.66%	-1.52%	7.02%	6.32%	22.48%
JHQDX JPMorgan Hedged Equity 2 Fund Class I	-2.82%	7.56%	18.03%	15.26%	-13.30%	14.40%

Returns By Period

In the year-to-date period, MCN achieves a -0.34% return, which is significantly higher than JHQDX's -2.82% return.

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%

JHQDX

• 1D: 0.21%
• 1M: -2.92%
• YTD: -2.82%
• 6M: -1.13%
• 1Y: 6.42%
• 3Y*: 9.79%
• 5Y*: 6.44%
• 10Y*: —

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

MCN vs. JHQDX - Expense Ratio Comparison

MCN has a 0.02% expense ratio, which is lower than JHQDX's 0.60% expense ratio.

JHQDX

JPMorgan Hedged Equity 2 Fund Class I

MCN

XAI Madison Equity Premium Income Fund

Return for Risk

MCN vs. JHQDX — Risk / Return Rank

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

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

JHQDX

JHQDX Risk / Return Rank: 34
JHQDX Sharpe Ratio Rank: 33
JHQDX Sortino Ratio Rank: 31
JHQDX Omega Ratio Rank: 31
JHQDX Calmar Ratio Rank: 35
JHQDX Martin Ratio Rank: 41

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.

MCN vs. JHQDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for XAI Madison Equity Premium Income Fund (MCN) and JPMorgan Hedged Equity 2 Fund Class I (JHQDX). 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.

	MCN	JHQDX	Difference
Sharpe ratio Return per unit of total volatility	0.40	0.87	-0.47
Sortino ratio Return per unit of downside risk	0.63	1.27	-0.63
Omega ratio Gain probability vs. loss probability	1.10	1.18	-0.09
Calmar ratio Return relative to maximum drawdown	0.48	1.26	-0.78
Martin ratio Return relative to average drawdown	1.66	5.32	-3.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCN vs. JHQDX - Sharpe Ratio Comparison

The current MCN Sharpe Ratio is 0.40, which is lower than the JHQDX Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of MCN and JHQDX, 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

	MCN	JHQDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	0.87	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.74	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.81	-0.54

Correlation

The correlation between MCN and JHQDX is 0.46, 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

MCN vs. JHQDX - Dividend Comparison

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

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
JHQDX JPMorgan Hedged Equity 2 Fund Class I	0.51%	0.50%	0.75%	0.96%	6.91%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MCN vs. JHQDX - Drawdown Comparison

The maximum MCN drawdown since its inception was -65.11%, which is greater than JHQDX's maximum drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for MCN and JHQDX.

Drawdown Indicators

	MCN	JHQDX	Difference
Max Drawdown Largest peak-to-trough decline	-65.11%	-15.25%	-49.86%
Max Drawdown (1Y) Largest decline over 1 year	-12.11%	-5.41%	-6.70%
Max Drawdown (5Y) Largest decline over 5 years	-24.47%	-15.25%	-9.22%
Max Drawdown (10Y) Largest decline over 10 years	-38.79%	—	—
Current Drawdown Current decline from peak	-6.83%	-4.17%	-2.66%
Average Drawdown Average peak-to-trough decline	-9.60%	-3.32%	-6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	1.28%	+2.62%

Volatility

MCN vs. JHQDX - Volatility Comparison

XAI Madison Equity Premium Income Fund (MCN) has a higher volatility of 3.95% compared to JPMorgan Hedged Equity 2 Fund Class I (JHQDX) at 2.60%. This indicates that MCN's price experiences larger fluctuations and is considered to be riskier than JHQDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCN	JHQDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.60%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	8.71%	5.55%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	16.60%	7.82%	+8.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	8.74%	+9.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.85%	8.70%	+10.15%