MCN vs HYPG

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

MCN vs HYPG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MCN(ETF)	HYPG(ETF)
Net Assets	$127M	$127M
Expense Ratio	N/A	0.29%
Max Drawdown	75.11%	26.56%
Sharpe Ratio	-0.22	-1.26
5Y Beta	0.52	3.44
5Y Dividends CAGR	1.61%	N/A

Net Assets

Winner

MCN

$127M

HYPG

$127M

Expense Ratio

MCN

N/A

HYPG

0.29%

Max Drawdown

MCN

75.11%

Winner

HYPG

26.56%

Sharpe Ratio

Winner

MCN

-0.22

HYPG

-1.26

5Y Beta

Winner

MCN

0.52

HYPG

3.44

5Y Dividends CAGR

MCN

1.61%

HYPG

N/A

MCN vs HYPG - Historical Returns

Returns include dividend reinvestment.

Period	MCN	HYPG
1 month	+1.99%	-10.41%
3 months	-2.57%	N/A
6 months	-0.76%	N/A
1 year	+1.73%	N/A
5 years(CAGR)	+3.13%	N/A
10 years(CAGR)	+7.29%	N/A
Max(CAGR)	+5.40%	-77.32%

Winner

MCN

+1.99%

HYPG

-10.41%

MCN

-2.57%

HYPG

N/A

MCN

-0.76%

HYPG

N/A

MCN

+1.73%

HYPG

N/A

5Y(CAGR)

MCN

+3.13%

HYPG

N/A

10Y(CAGR)

MCN

+7.29%

HYPG

N/A

Max(CAGR)

Winner

MCN

+5.40%

HYPG

-77.32%

MCN vs HYPG - Annual Returns (2004 - 2026)

Returns include dividend reinvestment.

Year	MCN	HYPG
2026	-1.26%	-17.72%
2025	+0.20%	N/A
2024	-0.33%	N/A
2023	+8.02%	N/A
2022	+6.33%	N/A
2021	+30.38%	N/A
2020	+14.91%	N/A
2019	+17.28%	N/A
2018	-12.21%	N/A
2017	+9.80%	N/A
2016	+14.94%	N/A
2015	-0.75%	N/A
2014	+9.41%	N/A
2013	+14.32%	N/A
2012	+12.18%	N/A
2011	-10.59%	N/A
2010	+10.23%	N/A
2009	+54.72%	N/A
2008	-38.79%	N/A
2007	-16.23%	N/A
2006	+12.53%	N/A
2005	+7.26%	N/A
2004	+1.32%	N/A

MCN vs HYPG Drawdown Comparison

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

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

The current MCN drawdown is -6.62%. The current HYPG drawdown is -17.72%.

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

Correlation

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

-1.00

-101