HYPG vs MCN

Comparison between Grayscale HYPE ETF (HYPG, ETF) and Madison Covered Call & Equity Strategy Fund (MCN, ETF).

HYPG vs MCN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HYPG(ETF)	MCN(ETF)
Net Assets	$127M	$127M
Expense Ratio	0.29%	N/A
Max Drawdown	26.56%	75.11%
Sharpe Ratio	-1.57	-0.21
5Y Beta	3.34	0.52
5Y Dividends CAGR	N/A	1.61%

Net Assets

HYPG

$127M

Winner

MCN

$127M

Expense Ratio

HYPG

0.29%

MCN

N/A

Max Drawdown

Winner

HYPG

26.56%

MCN

75.11%

Sharpe Ratio

HYPG

-1.57

Winner

MCN

-0.21

5Y Beta

HYPG

3.34

Winner

MCN

0.52

5Y Dividends CAGR

HYPG

N/A

MCN

1.61%

HYPG vs MCN - Historical Returns

Returns include dividend reinvestment.

Period	HYPG	MCN
1 month	-6.78%	+2.18%
3 months	N/A	-3.16%
6 months	N/A	-2.27%
1 year	N/A	+1.02%
5 years(CAGR)	N/A	+3.04%
10 years(CAGR)	N/A	+7.24%
Max(CAGR)	-82.31%	+5.37%

HYPG

-6.78%

Winner

MCN

+2.18%

HYPG

N/A

MCN

-3.16%

HYPG

N/A

MCN

-2.27%

HYPG

N/A

MCN

+1.02%

5Y(CAGR)

HYPG

N/A

MCN

+3.04%

10Y(CAGR)

HYPG

N/A

MCN

+7.24%

Max(CAGR)

HYPG

-82.31%

Winner

MCN

+5.37%

HYPG vs MCN - Annual Returns (2004 - 2026)

Returns include dividend reinvestment.

Year	HYPG	MCN
2026	-21.11%	-1.79%
2025	N/A	+0.20%
2024	N/A	-0.33%
2023	N/A	+8.02%
2022	N/A	+6.33%
2021	N/A	+30.38%
2020	N/A	+14.91%
2019	N/A	+17.28%
2018	N/A	-12.21%
2017	N/A	+9.80%
2016	N/A	+14.94%
2015	N/A	-0.75%
2014	N/A	+9.41%
2013	N/A	+14.32%
2012	N/A	+12.18%
2011	N/A	-10.59%
2010	N/A	+10.23%
2009	N/A	+54.72%
2008	N/A	-38.79%
2007	N/A	-16.23%
2006	N/A	+12.53%
2005	N/A	+7.26%
2004	N/A	+1.32%

HYPG vs MCN Drawdown Comparison

The maximum drawdown for HYPG was -26.56%, occurring on Jun 10, 2026. This drawdown has not yet recovered.

The maximum drawdown for MCN was -65.08%, occurring on Mar 9, 2009. Recovery took 1641 trading sessions.

The current HYPG drawdown is -21.11%. The current MCN drawdown is -7.12%.

Rank	HYPG	MCN
#1	-26.56% Jun 3, 2026 - Jun 10, 2026	-65.08% Apr 25, 2007 - Oct 29, 2013
#2	N/A	-38.60% Jan 15, 2020 - Nov 9, 2020
#3	N/A	-24.48% Jun 28, 2024 - Apr 7, 2025
#4	N/A	-22.86% Oct 1, 2018 - Jan 15, 2020
#5	N/A	-19.57% Sep 9, 2022 - Jan 11, 2023
#6	N/A	-18.33% Jan 12, 2022 - Sep 8, 2022
#7	N/A	-17.00% Apr 27, 2023 - Jun 28, 2024
#8	N/A	-15.90% May 21, 2015 - May 27, 2016
#9	N/A	-11.23% Aug 17, 2005 - Sep 25, 2006
#10	N/A	-9.01% Jul 10, 2014 - May 20, 2015
#11	N/A	-8.74% Sep 13, 2021 - Dec 10, 2021
#12	N/A	-8.15% Dec 10, 2021 - Jan 11, 2022
#13	N/A	-8.12% Jan 24, 2018 - Jul 2, 2018
#14	N/A	-5.66% Jun 11, 2021 - Jul 13, 2021
#15	N/A	-5.47% Oct 5, 2017 - Dec 28, 2017

Correlation

Correlation between HYPG and MCN is -1.00 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.

-1.00

-101