ESN vs MCN
Essential 40 Stock ETF vs XAI Madison Equity Premium Income Fund
Which is better, ESN or MCN?
ESN has been ahead.
ESN led over 1Y and the full window. ESN is less concentrated, with 34.8% of the fund in its ten largest positions against 43.1%.
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 | ESN | MCN |
|---|---|---|
| Expense Ratio | 0.70% | - |
| AUM | $355M | $130M |
| Dividend Yield | 0.77% | 12.00% |
| Holdings | 84 | 81 |
| YTD Return | +19.65%Best | -3.45% |
| 1Y Return | +21.71%Best | -2.11% |
| 3Y Return (annualized) | - | +2.46% |
| 5Y Return (annualized) | - | +2.55% |
| Volatility (annualized) | 10.6%Best | 13.5% |
| Max Drawdown | -13.6%Best | -21.2% |
| $10,000 over 2 years | $13,719Best | $9,602 |
| Top 10 Weight | 34.8%Best | 43.1% |
| Fund Family | KKM Financial | Madison Funds |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jun 11, 2024 | Jul 28, 2004 |
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Oct 21, 2024 to Oct 14, 2026 (2 years).
ESN vs MCN growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2 years both funds cover.
ESN vs MCN Performance
Essential 40 Stock ETF (ESN) is an ETF from KKM Financial and XAI Madison Equity Premium Income Fund (MCN) is an ETF from Madison Funds. Over the past year ESN returned +21.71% while MCN returned -2.11%. Year to date, ESN is up 19.65% versus a loss of 3.45% for MCN.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MCN has been the more volatile fund, with annualized monthly volatility of 13.5% compared with 10.6% for ESN. 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 -13.6% for ESN and -21.2% 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 0.59. They move together some of the time, and apart the rest.
Holdings Overlap
18.6% of ESN's money is in holdings MCN also owns. 20.2% of MCN's money is in holdings ESN also owns.
MCN and ESN share little of their money.
The two holdings books were reported 62 days apart, ESN 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.
8 positions in common, counted across the 41 positions we hold weights for in ESN and 41 in MCN, against full books of 84 and 81.
What only one of them owns
Our book lists 30 positions for MCN that do not appear in our book for ESN (76.3% of the fund), and 31 for ESN that do not appear in MCN (76.4%).
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.
Top Shared Holdings
| Stock | Weight in ESN | Weight in MCN | Difference |
|---|---|---|---|
| CVSCvs Health Corp | 2.36% | 3.81% | 1.45% |
| CMEC M E Group Inc. | 2.17% | 3.71% | 1.54% |
| MSFTMicrosoft Corp | 2.39% | 3.01% | 0.62% |
| VVisa Inc Class A | 2.32% | 2.92% | 0.60% |
| PFEPfizer Inc | 2.42% | 2.18% | 0.24% |
| NEMNewmont Corp Common | 2.23% | 2.33% | 0.10% |
| AMZNAmazon.Com Inc | 2.24% | 2.25% | 0.01% |
| METAMeta Platforms Inc | 2.52% | 0.00% | 2.52% |
20.2% of MCN is already inside ESN.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which performed better, ESN or MCN?
Over the past year ESN returned +21.71% vs -2.11% for MCN, so ESN leads on 1-year performance. Over the longest common window we track (2 years), ESN annualized +17.13% vs -2.01% for MCN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ESN or MCN?
MCN has been the more volatile fund at 13.5% annualized versus 10.6% for ESN. Worst drawdown: ESN -13.6% vs MCN -21.2%.
Should I hold both ESN and MCN?
ESN and MCN have a monthly-return correlation of 0.59, 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 ESN and MCN?
20.2% of MCN's money is in holdings ESN also owns. 20.2% of MCN's is in holdings ESN also owns. They hold 8 positions in common, counted across the 41 positions we hold weights for in ESN and 41 in MCN.
Which pays a higher dividend, ESN or MCN?
ESN yields 0.77% while MCN yields 12.00%, so MCN currently pays the higher dividend yield.
Is MCN better than ESN?
ESN led over 1Y and the full window. ESN is less concentrated, with 34.8% of the fund in its ten largest positions against 43.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.