XAI Madison Equity Premium Income Fund (MCN) vs Western Asset Investment Grade Income Fund (PAI)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
XAI Madison Equity Premium Income Fund is the larger company by market cap ($110.4 million vs $107.9 million), about 1.0 times the size. On valuation, Western Asset Investment Grade Income Fund trades at a lower trailing P/E (12.5x vs 18.1x for XAI Madison Equity Premium Income Fund). XAI Madison Equity Premium Income Fund offers the higher dividend yield (13.69% vs 5.56%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | MCN | PAI |
|---|---|---|
| Share price | $5.26 | $11.34 |
| Market cap | $110.43M | $107.85M |
| 1-day change | +0.38% | +0.35% |
| P/E ratio (TTM) | 18.14 | 12.46 |
| EPS (TTM) | $0.29 | $0.91 |
| Dividend yield | 13.69% | 5.56% |
| Annual dividend | $0.72 | $0.63 |
| 52-week high | $6.30 | $12.95 |
| 52-week low | $5.18 | $11.25 |
| Distance from 52-week high | -16.51% | -12.43% |
| Average volume | 52.86K | 18.73K |
| Shares outstanding | 20.99M | 9.51M |
| Sector | Financial Services | Financial Services |
| Industry | Asset Management | Asset Management |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- XAI Madison Equity Premium Income Fund trades at a higher earnings multiple (18.1x vs 12.5x trailing P/E).
- XAI Madison Equity Premium Income Fund offers a meaningfully higher dividend yield (13.69% vs 5.56%).
About XAI Madison Equity Premium Income Fund
MCN stock →XAI Madison Equity Premium Income Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc. It is managed by Madison Asset Management, LLC.
Financial Services · Asset Management
About Western Asset Investment Grade Income Fund
PAI stock →Western Asset Investment Grade Income Fund Inc. is a closed-ended fixed income mutual fund launched and managed by Western Asset Management Company.
Financial Services · Asset Management
MCN vs PAI FAQ
Which is bigger, XAI Madison Equity Premium Income Fund or Western Asset Investment Grade Income Fund?
XAI Madison Equity Premium Income Fund (MCN) is larger, with a market capitalization of $110.43M compared with $107.85M for Western Asset Investment Grade Income Fund (PAI).
Which has the lower P/E ratio, MCN or PAI?
PAI has the lower trailing P/E at 12.5, versus 18.1 for MCN. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, XAI Madison Equity Premium Income Fund or Western Asset Investment Grade Income Fund?
XAI Madison Equity Premium Income Fund has the higher yield at 13.69%, compared with 5.56% for Western Asset Investment Grade Income Fund.
Are XAI Madison Equity Premium Income Fund and Western Asset Investment Grade Income Fund in the same industry?
Yes. Both are classified in the Asset Management industry within the Financial Services sector.