MCN vs QQQ
XAI Madison Equity Premium Income Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | MCN | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.18% | |
| AUM | $130M | $455.8B | |
| Dividend Yield | 11.96% | 0.41% | |
| Holdings | 81 | 108 | |
| YTD Return | +0.34% | +19.68% | |
| 1Y Return | +2.22% | +26.75% | |
| 3Y Return (annualized) | +2.48% | +26.25% | |
| 5Y Return (annualized) | +3.58% | +15.39% | |
| Volatility (annualized) | 17.2% | 30.6% | |
| Max Drawdown | -75.1% | -83.0% | |
| Fund Family | Madison Funds | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jul 28, 2004 | Mar 10, 1999 |
MCN vs QQQ Performance
XAI Madison Equity Premium Income Fund (MCN) is a ETF from Madison Funds and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year MCN returned +2.22% while QQQ returned +26.75%. Year to date, MCN is up 0.34% versus a gain of 19.68% for QQQ.
Over three years, MCN compounded at +2.48% per year against +26.25% for QQQ; over five years the annualized figures are +3.58% and +15.39% respectively. Across the full 22-year window we track, QQQ has the edge at +13.15% annualized vs -1.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 17.2% for MCN. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -75.1% for MCN and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
MCN and QQQ share 13 holdings out of 130 unique holdings combined, representing a 13.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, MCN or QQQ?
Over the past year MCN returned +2.22% vs +26.75% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (22 years), MCN annualized -1.81% vs +13.15% for QQQ. Past performance does not guarantee future results.
Which is riskier, MCN or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 17.2% for MCN. Worst drawdown: MCN -75.1% vs QQQ -83.0%.
Should I hold both MCN and QQQ?
MCN and QQQ have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MCN and QQQ?
MCN and QQQ share 13 common holdings with a 13.9% weight overlap. Combined, they hold 130 unique securities.
Which pays a higher dividend, MCN or QQQ?
MCN yields 11.96% while QQQ yields 0.41%, so MCN currently pays the higher dividend yield.
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