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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_TheMexicanEconomyMember_lbl" xml:lang="en-US">The Mexican Economy [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_CommonStockRiskMember" xlink:label="mxe_CommonStockRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_CommonStockRiskMember" xlink:to="mxe_CommonStockRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_CommonStockRiskMember_lbl" xml:lang="en-US">Common Stock Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_SmallAndMediumCapitalizationCompanyRiskMember_lbl" xml:lang="en-US">Small and Medium Capitalization Company Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_MarketRiskMember_lbl" xml:lang="en-US">Market Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_MarketDiscountFromNetAssetValueRiskMember_lbl" xml:lang="en-US">Market Discount from Net Asset Value Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_SharesOfOtherInvestmentCompaniesMember_lbl" xml:lang="en-US">Shares of Other Investment Companies [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_RestrictedOrIlliquidSecuritiesRisksMember" xlink:label="mxe_RestrictedOrIlliquidSecuritiesRisksMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_RestrictedOrIlliquidSecuritiesRisksMember_lbl" xml:lang="en-US">Restricted or Illiquid Securities Risks [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_IssuerSpecificChangesRiskMember" xlink:label="mxe_IssuerSpecificChangesRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_IssuerSpecificChangesRiskMember_lbl" xml:lang="en-US">Issuer Specific Changes Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_AntiTakeoverProvisionsRiskMember_lbl" xml:lang="en-US">Anti-Takeover Provisions Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_BorrowingRisksMember" xlink:label="mxe_BorrowingRisksMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_ChangesInPoliciesRiskMember_lbl" xml:lang="en-US">Changes in Policies Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditRiskMember_lbl" xml:lang="en-US">Credit Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_DefensivePositionRiskMember" xlink:label="mxe_DefensivePositionRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_DefensivePositionRiskMember" xlink:to="mxe_DefensivePositionRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_DefensivePositionRiskMember_lbl" xml:lang="en-US">Defensive Position Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_HighPortfolioTurnoverRateRiskMember" xlink:label="mxe_HighPortfolioTurnoverRateRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_HighPortfolioTurnoverRateRiskMember_lbl" xml:lang="en-US">High Portfolio Turnover Rate Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_InitialPublicOfferingsRisksMember" xlink:label="mxe_InitialPublicOfferingsRisksMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_InitialPublicOfferingsRisksMember" xlink:to="mxe_InitialPublicOfferingsRisksMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_InitialPublicOfferingsRisksMember_lbl" xml:lang="en-US">Initial Public Offerings Risks [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="mxe-20260731.xsd#mxe_PreferredStockRiskMember" xlink:label="mxe_PreferredStockRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_PreferredStockRiskMember" xlink:to="mxe_PreferredStockRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mxe_PreferredStockRiskMember_lbl" xml:lang="en-US">Preferred Stock Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_InvestmentsInForeignSecuritiesRisksMember_doc" xml:lang="en-US">Investments in Foreign Securities Risks.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_MarketIlliquidityVolatilityMember_doc" xml:lang="en-US">Market Illiquidity, Volatility.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_MarketCorrectionsMember_doc" xml:lang="en-US">Market Corrections.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_TheMexicanEconomyMember_doc" xml:lang="en-US">The Mexican Economy.</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_CommonStockRiskMember_doc" xml:lang="en-US">Common Stock Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_ConvertibleSecuritiesRiskMember" xlink:to="mxe_ConvertibleSecuritiesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_ConvertibleSecuritiesRiskMember_doc" xml:lang="en-US">Convertible Securities Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_SmallAndMediumCapitalizationCompanyRiskMember" xlink:to="mxe_SmallAndMediumCapitalizationCompanyRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_SmallAndMediumCapitalizationCompanyRiskMember_doc" xml:lang="en-US">Small and Medium Capitalization Company Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_MarketRiskMember" xlink:to="mxe_MarketRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_MarketRiskMember_doc" xml:lang="en-US">Market Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_MarketDiscountFromNetAssetValueRiskMember" xlink:to="mxe_MarketDiscountFromNetAssetValueRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_MarketDiscountFromNetAssetValueRiskMember_doc" xml:lang="en-US">Market Discount from Net Asset Value Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_ManagementRiskMember" xlink:to="mxe_ManagementRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_ManagementRiskMember_doc" xml:lang="en-US">Management Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_RealEstateInvestmentTrustREITRiskMember" xlink:to="mxe_RealEstateInvestmentTrustREITRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_RealEstateInvestmentTrustREITRiskMember_doc" xml:lang="en-US">Real Estate Investment Trust ("REIT") Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_ExchangeTradedFundsRiskMember" xlink:to="mxe_ExchangeTradedFundsRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_ExchangeTradedFundsRiskMember_doc" xml:lang="en-US">Exchange Traded Funds Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_SharesOfOtherInvestmentCompaniesMember" xlink:to="mxe_SharesOfOtherInvestmentCompaniesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_SharesOfOtherInvestmentCompaniesMember_doc" xml:lang="en-US">Shares of Other Investment Companies.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_RestrictedOrIlliquidSecuritiesRisksMember" xlink:to="mxe_RestrictedOrIlliquidSecuritiesRisksMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_RestrictedOrIlliquidSecuritiesRisksMember_doc" xml:lang="en-US">Restricted or Illiquid Securities Risks.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mxe_IssuerSpecificChangesRiskMember" xlink:to="mxe_IssuerSpecificChangesRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mxe_IssuerSpecificChangesRiskMember_doc" xml:lang="en-US">Issuer Specific Changes Risk.</link:label>
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