Mexico Equity & Income Fund : Quarterly Fiscal Factsheet – April 30, 2026

Published: 2026-05-14 15:56:13 ET MXE

Published on 05/14/2026 at 03:56 pm EDT

Source: Ultimus Fund Solutions; Bloomberg.

Global markets remained volatile amid geopolitical tensions, tariffs, and inflation uncertainty.

Mexican equities showed relative resilience within emerging markets, supported by nearshoring trends, foreign direct investment inflows, and exports to the U.S. exceeding US$50 billion monthly.

Source: Bloomberg.

The MXE NAV annual average return over the 5- and 10-year periods reflects a downward adjustment due to the 0.7879 split factor and the 21.2% dilution effect from the non-transferable rights offering executed on October 12, 2021.

Performance data quoted represents past performance; past performance does not guarantee future results.

Differentiated exposure included:

Mexico's only publicly listed pure-play private midstream natural gas operator, benefiting from nearshoring and rising energy demand,

Hard-discount retail operators, and

Defensive and cash flow-generative businesses representing approximately 15% of net assets.

NAV Total Fiscal 3Q Return: +0.75% (according to Ultimus Fund Solutions)

Year-to-Date Return: +7.73%

Relative underperformance narrowed versus year-end 2025, reflecting improved portfolio positioning during volatile market conditions.

Opportunistic trading during April volatility, particularly in copper, gold, and silver-related equities.

Mexico's near-term growth remains moderate; however, the investment team cautiously believes activity could improve toward year-end, supported by resilient exports, nearshoring dynamics, and increasing visibility regarding the renegotiation and long-term continuity of the USMCA framework.

The investment team continues to emphasize disciplined portfolio construction, liquidity, selective dividend capture, and active risk management amid ongoing geopolitical uncertainty.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. For the fund's must recent performance data, please see the price and performance section on the fund's web page (https://www.mxefund.com)

Source: Ultimus Fund Solutions; Bloomberg.

Performance data quoted represents past performance; past performance does not guarantee future results. Source: Ultimus Fund Solutions; Bloomberg.

Maximum Drawdown: A drawdown represents the measure of decline in an investment portfolio from its peak value to its lowest point, highlighting the duration and magnitude of financial loss.

**March 2020: COVID-19 pandemic.

Performance data quoted represents past performance; past performance does not guarantee future results. Source: Ultimus Fund Solutions; Bloomberg.

Schedule of Investments

Source: Ultimus Fund Solutions; Bloomberg.

Source: Bloomberg.

The Mexico Equity and Income Fund, Inc. ("the Fund"), achieves its investment objective through investments in securities, primarily equity, listed on the Mexican Stock Exchange. It serves as a vehicle for those who seek to invest in Mexican companies through a managed non-diversified porGolio as part of their overall investment program.

Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security. The information and views provided herein represent the opinion of Pichardo Asset Management, not the Fund's Board of Directors, and it does not intend to be a forecast of future events, a guarantee of future results, or investment advice. This report contains certain forward-looking statements about factors that may affect the Fund's future performance.

Our management, with a firm belief in the reasonableness of these forward-looking statements, acknowledges their inherent uncertainty and difficulty in prediction. This belief is a testament to our commitment to providing you with the most informed investment decisions.

All investments involve risk. Principal loss is possible. Investing in equities in Emerging markets involves additional risks such as currency fluctuations, currency devaluations, price volatility, social and economic instability, differing securities regulations and accounting standards, limited publicly available information, changes in taxation, periods of illiquidity, and other factors. These risks are more significant in emerging markets. Stocks of small- and medium-capitalization companies involve greater volatility and less liquidity than stocks of larger capitalization companies.

Investment in Mexican securities involves special considerations and risks that are not generally associated with investments in U.S. securities, including (1) relatively higher price volatility, lower liquidity, and the small market capitalization of Mexican securities markets; (2) currency fluctuations and the cost of converting Mexican pesos into U.S. dollars; (3) restrictions on foreign investment; (4) political, economic and social risks and uncertainties (5) higher rates of inflation and interest rates than in the United States. In addition, Mexican equity investments are in Mexican pesos. As a result, the PorGolio Securities must increase in market value at a rate over the rate of any decline in the peso's value against the U.S. dollar to avoid a reduction in their equivalent U.S. dollar value.

The Fund may have a higher turnover rate, which may result in higher transaction costs and tax liability, which may affect returns.

Net assets, end of year (000's) $69,944

Ratio of expenses to average net assets 1.96%

Ratio of net investment income (loss) to average net assets 1.03%

PorGolio turnover rate 63.03%

ACA Group; FINRA member.

Disclaimer

The Mexico Equity and Income Fund Inc. published this content on May 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2026 at 19:55 UTC.