DIVZ vs MCN
Polen Dividend Income ETF vs XAI Madison Equity Premium Income Fund
Which is better, DIVZ or MCN?
Each has led over a different period.
DIVZ led over the full window, MCN over 1Y. MCN is less concentrated, with 43.1% of the fund in its ten largest positions against 49.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DIVZ | MCN |
|---|---|---|
| Expense Ratio | 0.65% | - |
| AUM | $304M | $130M |
| Dividend Yield | 2.66% | 12.00% |
| Holdings | 58 | 81 |
| Volatility (annualized) | 14.4%Best | 19.1% |
| Max Drawdown | -15.4%Best | -24.5% |
| $10,000 over 4.4 years | $15,910Best | $13,797 |
| Top 10 Weight | 49.2% | 43.1%Best |
| Fund Family | TrueShares | Madison Funds |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jan 27, 2021 | Jul 28, 2004 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 488 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. DIVZ has data through Jun 13, 2025 and MCN through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Jan 28, 2021 to Jun 13, 2025 (4.4 years).
Risk: Volatility and Drawdowns
MCN has been the more volatile fund, with annualized monthly volatility of 19.1% compared with 14.4% for DIVZ. 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 -15.4% for DIVZ and -24.5% for MCN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
Holdings Overlap
14.1% of DIVZ's money is in holdings MCN also owns. 10.3% of MCN's money is in holdings DIVZ also owns.
DIVZ and MCN share little of their money.
The two holdings books were reported 62 days apart, DIVZ as of Oct 1, 2026 and MCN as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
4 positions in common, counted across the 30 positions we hold weights for in DIVZ and 41 in MCN, against full books of 58 and 81.
What only one of them owns
Our book lists 33 positions for MCN that do not appear in our book for DIVZ (86.2% of the fund), and 25 for DIVZ that do not appear in MCN (83.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of DIVZ and MCN you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is riskier, DIVZ or MCN?
MCN has been the more volatile fund at 19.1% annualized versus 14.4% for DIVZ. Worst drawdown: DIVZ -15.4% vs MCN -24.5%.
Should I hold both DIVZ and MCN?
DIVZ and MCN have a monthly-return correlation of 0.66, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DIVZ and MCN?
14.1% of DIVZ's money is in holdings MCN also owns. 10.3% of MCN's is in holdings DIVZ also owns. They hold 4 positions in common, counted across the 30 positions we hold weights for in DIVZ and 41 in MCN.
Which pays a higher dividend, DIVZ or MCN?
DIVZ yields 2.66% while MCN yields 12.00%, so MCN currently pays the higher dividend yield.
Is MCN better than DIVZ?
DIVZ led over the full window, MCN over 1Y. MCN is less concentrated, with 43.1% of the fund in its ten largest positions against 49.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.