Oct. 19, 2025 8:48 AM ETXAI Madison Equity Premium Income Fund (MCN)USA, EOS, MCNCain Lee7.08K FollowersSummaryXAI Madison Equity Premium Income Fund offers high-yield and defensive equity exposure but has underperformed peers over long periods.MCN's 11.7% dividend yield is attractive, yet inconsistent earnings and reliance on market gains raise concerns about long-term sustainability.The fund trades at a discount to NAV, but this reflects structural limitations rather than a compelling buying opportunity versus alternatives like EOS and USA.Maintain Hold rating: MCN suits defensive, income-focused investors, but persistent underperformance and dividend coverage risks limit its broader appeal.PM Images/DigitalVision via Getty ImagesOverviewAs market indexes continue to experience elevated levels of volatility related to macroeconomic influences, investors may be looking for a way to add some stability to their portfolio. XAI Madison Equity Premium Income Fund (This article was written byCain Lee7.08K FollowersFinancial analyst by day and a seasoned investor by passion, I've been involved in the world of investing for over 15 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering high quality dividend stocks and other assets that offer potential for long term-growth that pack a serious punch for bill-paying potential. I use myself as an example that with a solid base of classic dividend growth stocks, sprinkling in some Business Development Companies, REITs, and Closed End Funds can be a highly efficient way to boost your investment income while still capturing a total return that follows traditional index funds. I created a hybrid system between growth and income and manage to still capture a total return that is on par with the S&P.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments