MCN CEF — XAI Madison Equity Premium Income Fund

XAI Madison Equity Premium Income Fund (MCN)

Updated November 6, 2026.

MCN is a CEF. Its distribution rate is 13.43%, its trailing-12-month yield is 13.43%. Dividend Vision Distribution Safety Score™ is 79/100 (Generally safe). Total return is 211.9% over the past 22.3 years, 689.0 points behind SPY at 900.9%.

MCN performance versus SPY

As of Nov 5, 2026

Total return is 211.9% over the past 22.3 years, 689.0 points behind SPY at 900.9%. Over the past year its total return — price change plus distributions reinvested — is 0.6%. Its deepest 1-year drawdown was 8.5%.

MCN key facts

Distribution Safety Score™

79 · Generally safe

Safety-Adjusted Yield

10.61%

Issuer

XA Investments

Asset type

CEF

Asset class

Equity

Inception date

07/28/2004

Distribution rate

13.43%

Distribution frequency

Monthly

Trailing yield

13.43%

5-year average yield

10.63

Last close

$5.36 (as of 2026-11-06)

NAV

$6.51

Premium / discount

Premium not shown · NAV date unknown

Market cap

$111,475,328

Average volume

104,327

Dividend

$0.06

Ex-dividend date

11/16/2026

Payment date

12/01/2026

Beta

0.685

Expense ratio and AUM unavailable in this published snapshot. Missing values do not mean zero or complete coverage. ?

How Dividend Vision calculates yield and returns

Distribution rate (13.43%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (13.43%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: XA Investments or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MCN risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.5%.

Who may consider MCN — and who may not

It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MCN

• All tickers starting with M

Tagged: Covered Call, Dividend, CEF.

Frequently asked questions

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