CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

View All Indexes

02. High Income Index

Data as of

About the Index

50% Equity focused income funds and 50% Bond/BDC focused income funds: (1) Funds need to have 90-day average trading dollar ($) liquidity over $500K. (2) Taxable Bond + Preferred Equity groupings according to CEFdata.com, ranked by top 35% current market price yield (40% of the index weighting), (3) Debt-Focused Business Development Companies (BDCs), top 35% ranked by current market price yield (10% of the index weighting). (4) US Equity, Non-US Equity, Specialty Equity and Hybrid/Balanced Funds groupings in CEFData.com with funds only included if they pay monthly or quarterly distributions without a large year-end distribution in both of the past two calendar years. This selection is then ranked by top 35% of funds by current market price yield (50% of index weighting) The index constituents will be rebalanced each quarter.

Index Performance

Current($) Previous Day(%) 1 Week(%) 1 Month(%) 3 Month(%) 6 Month(%) 1 Year(%) 3 Year(%) 5 Year(%) MTD(%) QTD(%) YTD(%)
Price 1,178.07 0.49 -0.87 5.07 3.21 3.24 15.04 8.36 5.73 2.84 2.84 2.84
NAV 1,146.93 0.25 -0.37 4.60 5.30 6.51 13.64 7.43 6.27 2.87 2.87 2.87
Difference -0.24 0.50 -0.47 2.09 3.27 -1.39 -0.92 0.54 0.03 0.03 0.03
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.65 3.04 0.58 8.46 2.68 0.61 0.13 3.45 11.91 2.40 -1.83 2.40 2.94 -2.28 -1.67 3.21 -0.82 2.12 14.03
NAV 2.10 1.90 0.21 4.26 1.12 0.50 0.50 2.14 6.40 1.77 -0.59 1.45 2.64 -0.47 0.18 2.31 2.01 4.64 11.04
Difference -2.55 -1.14 -0.37 -4.20 -1.56 -0.11 0.37 -1.31 -5.51 -0.63 1.24 -0.95 -0.31 1.81 1.84 -0.90 2.83 2.53 -2.99
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -7.98 0.29 10.04 1.55 8.55 1.42 3.32 13.75 15.30 4.99 2.08 0.57 7.78 -2.49 1.07 1.81 0.34 8.12 23.43
NAV -7.03 -0.67 7.13 -1.07 7.12 1.92 2.50 11.91 10.83 2.84 1.52 1.73 6.21 -1.07 0.64 2.00 1.55 7.76 18.59
Difference 0.95 -0.97 -2.91 -2.63 -1.42 0.50 -0.82 -1.84 -4.47 -2.15 -0.56 1.17 -1.58 1.41 -0.42 0.19 1.21 -0.36 -4.83
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 0.75 4.19 -1.61 3.28 2.55 -0.88 -4.38 -2.80 0.48 -3.34 -4.33 -5.75 -12.84 8.36 -3.53 -4.80 -0.49 -13.33 -12.85
NAV -0.18 3.07 -1.02 1.84 2.60 0.15 -2.12 0.58 2.42 -1.11 -3.79 -4.14 -8.80 5.62 -3.04 -5.73 -3.46 -12.25 -9.84
Difference -0.93 -1.12 0.59 -1.44 0.05 1.02 2.26 3.37 1.94 2.23 0.54 1.61 4.04 -2.73 0.49 -0.92 -2.96 1.08 3.02

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-3.91%
1Yr Disc
-2.22%
3Yr Disc
-4.40%
5Yr Disc
-2.60%
Rel Disc Range (3yr)
58.12%
Mkt Yield
10.31%
Lev Adj NAV Yield
8.01%
After Tax Yield*
8.69%
Est Tax Friction*
1.62%
3Yr NAV Volatiliy
15.49
1 Yr RoC
35.00%
3 Yr Dest RoC
27.83%
Leverage
26.06%
Non Lev Exp Ratio
1.92%
Beta (2yr)
0.78
Equity Exposure
47.95%
Bond Exposure
49.32%
# Holdings
106
Cash Weighted Duration
1.49
Comp NAV TR
-0.23%
Comp Discount
0.95%
Net Assets (M)
544
Liquidity - 90d (K)
2,880
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Asset Allocation

Asset Allocation as reported by each fund's sponsor as of the last reporting period.

Constituents


106 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
OXLC Oxford Lane Cap Corp Oxford Lane 0.85 4.53 15.96 0.00 37.00 245 2,622
EDF SH Emrg Mkt Incm Fd Stone Harbor 0.87 8.81 13.25 38.65 21.65 239 2,030
PHK PIMCO Hi Incm Fd PIMCO 0.89 14.71 12.54 5.84 24.74 866 6,126
ECC Eagle Point Cr Co Eagle Point 0.82 9.12 13.11 21.40 36.01 315 1,950
EDI SH Emrg Mkt Tot Incm Fd Stone Harbor 0.85 0.51 11.55 26.49 23.83 151 1,166
PGP PIMCO Glbl Stk+ & Incm Fd PIMCO 0.77 18.49 10.62 10.30 26.21 125 1,092
NCZ AG Convt & Incm Fd II Allianz 0.87 4.30 10.95 11.10 37.92 452 1,465
NCV AG Convt & Incm Fd Allianz 0.87 5.94 10.94 0.00 37.60 597 2,554
DMO WA Mortg Dfin Opp Fd Legg Mason 0.89 22.65 10.43 0.00 30.80 220 1,850
VGI Virtus Glbl Mlt-Sctr Incm Fd Virtus 0.77 -3.94 11.82 20.41 26.32 186 1,387
FTF FrkTmp Ltd Dur Incm Tr Franklin 0.86 -3.96 10.45 45.30 34.19 279 1,270
ACP Abd Incm Cr Stgs Fd Aberdeen 0.87 -6.78 10.07 0.00 29.88 201 1,288
RA Brkf Real Ast Incm Fd Brookfield 0.86 -6.08 10.11 26.15 21.91 918 4,281
CHI Calamos Convt Opp & Incm Calamos 0.86 -1.67 10.16 44.41 32.42 806 3,346
CHY Calamos Convt & Hi Incm Fd Calamos 0.87 0.75 9.88 44.94 32.73 876 2,528
GOF Gghm Stgc Opp Fd Guggenheim 0.84 9.28 10.20 0.00 0.33 477 2,841
CCD Calamos Dyn Convt & Incm Fd Calamos 0.87 -3.80 9.78 57.02 31.94 520 1,335
GGM Gghm Cr Alloc Fd Guggenheim 0.87 0.85 9.65 0.00 31.22 165 632
ERC WF Mlt-Sctr Incm Fd Wells Fargo 0.86 -8.70 9.87 0.00 27.23 502 2,457
OPP RiverNorth DbLin Stgc Opp Fd RiverNorth 0.83 -7.26 9.93 5.38 24.40 215 1,635
IVH Ivy Hi Incm Opp Fd Ivy Investment 0.81 -10.47 8.26 0.00 31.47 269 1,227
PTY PIMCO Corp & Incm Opp Fd PIMCO 0.86 10.43 9.44 2.00 42.33 1,211 5,573
AGC AC Convt Sec & Incm Fd II Guggenheim 0.87 -9.97 9.19 27.85 40.08 187 974
RCS PIMCO Stgc Incm Fd PIMCO 0.85 19.45 9.44 5.66 23.60 327 1,936
KIO KKR Incm Opp Fd KKR Credit 0.84 -8.11 9.39 0.00 29.58 354 2,804
DHY CS Hi Yld Bnd Fd Credit Suisse 0.83 0.36 9.46 1.34 30.33 287 769
FSD FT Hi Incm Lng/Srt Fd First Trust 0.85 -8.00 9.26 11.64 20.09 539 2,529
PFL PIMCO Incm Stgy Fd PIMCO 0.85 1.76 9.32 0.00 24.32 290 1,025
PFN PIMCO Incm Stgy Fd II PIMCO 0.84 0.00 9.36 0.00 23.27 610 2,220
BGH Barings Glbl Srt Dur Hi Yld Fd Barings 0.85 -8.17 9.25 0.00 25.93 420 1,800
ACV AG Divr Incm & Convt Fd Allianz 0.88 -5.86 8.91 0.00 30.90 245 984
MIN MFS Imd Incm Tr MFS 0.82 -7.39 9.34 67.69 0.00 510 1,242
DBL DbLin Opportunistic Cr Fd Doubleline 0.81 1.62 9.38 16.12 23.31 313 1,967
DSL DbLin Incm Solutions Fd Doubleline 0.86 -5.14 8.78 1.47 29.62 2,189 7,974
PDI PIMCO Dyn Incm Fd PIMCO 0.84 2.96 8.94 0.00 44.06 1,444 6,659
PKO PIMCO Incm Opp Fd PIMCO 0.85 1.10 8.85 0.00 37.39 385 1,530
PCI PIMCO Dyn Cr & Mortg Incm PIMCO 0.84 -6.13 8.86 0.00 46.47 3,247 13,203
AVK AC Convt Sec & Incm Fd Guggenheim 0.87 -9.76 8.58 14.83 38.61 362 1,257
MCR MFS Charter Incm Tr MFS 0.84 -8.62 8.84 45.05 18.10 430 1,046
MMT MFS MltMkt Incm Tr MFS 0.83 -8.70 8.85 46.11 17.86 463 1,098
FAX Abd Asia-Pacific Incm Fd Aberdeen 0.87 -9.82 8.47 51.47 30.56 1,387 3,875
JGH Nuv Glbl Hi Incm Fd Nuveen 0.85 -8.67 8.44 0.00 28.95 434 2,275
DHF Dreyfus Hi Yld Stgs Fd Dreyfus 0.85 -5.92 8.44 0.00 30.82 258 811
PCM PCM Fund PIMCO 0.81 6.32 8.78 0.00 40.94 119 578
EAD WF Incm Opp Fd Wells Fargo 0.85 -9.91 8.10 0.00 25.96 651 2,156
PHT Pioneer Hi Incm Tr Pioneer 0.85 -10.24 8.02 0.00 28.40 317 1,192
TICC TICC Capital Corp TICC Management 0.59 -24.50 14.26 0.00 28.48 382 1,901
GARS Garrison Capital Garrison Capital 0.61 -30.24 13.68 0.00 51.23 188 414
CPTA Capitala Finance Corp Capitala 0.64 -45.74 12.96 0.00 54.89 226 1,279
TCAP Triangle Capital Corp Triangle Capital 0.66 -22.27 11.70 0.00 46.28 630 6,975
HCAP Harvest Cap Cr Corp Harvest Capital 0.64 -10.11 11.68 0.00 27.81 83 439
CMFN CM Finance CM Investment 0.66 -30.99 11.70 0.00 43.16 170 316
MCC Medley Capital Corp MCC Advisors 0.62 -37.40 12.10 0.00 50.76 460 1,779
TCRD THL Credit THL Credit 0.61 -20.11 11.92 0.00 43.31 371 1,222
ABDC Alcentra Capital Corp Alcentra 0.62 -31.87 11.96 0.00 37.93 175 1,217
KCAP KCAP Financial KCAP Financial 0.60 -32.12 11.90 0.00 31.39 185 440
BKCC BR Cap Inv Corp BlackRock 0.62 -22.49 11.67 0.00 28.79 582 3,025
OFS OFS Capital Corp OFS Capital 0.61 -15.83 11.42 0.00 46.07 189 588
TPVG TP Vntr Gwth BDC Corp TriplePoint Capital 0.62 -2.76 11.06 0.00 23.42 237 1,147
ACSF American Capital Sr Flt American Capital 0.66 -14.25 10.35 0.00 40.81 131 539
HRZN Horizon Tech Fin Corp Horizon Tech Fin 0.62 -4.74 10.67 0.00 31.30 136 699
PSEC Prospect Capital Corp Prospect Capital 0.62 -24.89 10.51 0.00 43.15 3,287 25,227
CLM Cornerstone Stgc Val Fd Cornerstone 1.14 13.90 17.76 56.84 0.00 618 4,665
CRF Cornerstone Tot Rtn Fd Cornerstone 1.14 15.80 17.44 56.22 0.00 305 3,320
DSE D&P Sel Nrg MLP Fd Virtus 1.27 1.97 13.08 100.00 36.57 173 1,514
NDP Tortoise Nrg Ind Fd Tortoise 1.16 -0.57 12.58 12.50 22.10 204 1,391
FMO F/C MLP Opp Fd Guggenheim 1.21 -0.90 12.01 100.00 35.43 512 4,463
RIV RiverNorth Opp Fd RiverNorth 1.13 1.94 12.32 0.00 15.42 107 1,478
CEN Center Coast MLP & Infr Fd Center Coast 1.20 -0.09 11.54 100.00 32.50 237 3,170
JMF Nuv Nrg MLP Total Rtn Fd Nuveen 1.20 -0.88 9.68 100.00 27.26 502 4,083
GGN GAMCO Glbl Gd NtrRes Incm Gabelli 1.13 -2.75 11.30 55.50 11.00 73 3,423
JMLP Nuv All Cap Nrg MLP Opp Fd Nuveen 1.17 -1.85 9.97 100.00 26.59 122 737
EXD EV Tx-Adv Bnd & Opt Stgs Fd Eaton Vance 1.08 -7.32 11.60 91.29 0.00 105 582
GLO Clough Glbl Opp Fd Clough 1.13 -10.87 10.83 97.46 37.03 403 2,534
ZF Virtus Total Return Fd Zweig 1.05 -5.23 12.07 6.99 26.56 272 981
GLV Clough Glbl Div & Incm Fd Clough 1.12 -7.62 10.77 61.59 36.88 103 655
HIE Miller/Howard Hi Incm Eq Fd Miller/Howard 1.16 0.38 10.63 65.53 28.80 176 923
EOD WF Glbl Div Opp Fd Wells Fargo 1.15 -6.80 10.83 0.00 13.53 294 1,119
GLQ Clough Glbl Eq Fd Clough 1.14 -9.20 10.53 67.35 35.85 168 1,182
EMO CB Nrg MLP Opp Fd Legg Mason 1.19 -4.16 10.10 93.00 32.15 412 3,153
USA Liberty All-Star Eq Fd ALPS 1.20 -8.39 10.81 2.23 0.75 1,386 5,129
GPM Gghm Enh Eq Incm Fd Guggenheim 1.14 -1.93 10.47 61.27 30.89 449 1,999
FPL FT New Opp MLP & Nrg Fd First Trust 1.17 3.61 9.98 90.65 25.01 307 1,956
GER GS MLP & Nrg Renaissance Fd Goldman Sachs 1.27 -4.21 9.08 24.28 33.36 582 4,555
THW Tekla Wld Health Fd Tekla 1.15 -7.25 9.86 38.92 20.00 472 2,620
ZTR Virtus Glbl Div & Inc Fd Virtus 1.13 7.11 10.01 29.20 27.60 310 1,175
CTR CB Nrg MLP Tot Rtn Fd Legg Mason 1.20 -6.32 9.21 100.00 28.90 516 3,086
HTY JH Tx-Adv Glbl ShrHld Yld John Hancock 1.18 4.44 9.36 56.57 0.00 99 825
KYE KA Nrg Tot Rtn Fd Kayne Anderson 1.22 -6.55 9.23 85.00 28.82 426 2,964
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 1.05 -2.97 10.33 37.50 31.24 256 994
EXG EV Tx-Mgd Glol Divr Eq Incm Eaton Vance 1.15 -0.51 9.33 91.70 0.00 2,965 7,229
CBA CB Amrc Nrg MLP Fd Legg Mason 1.21 -3.91 8.79 25.00 30.67 555 4,065
NTG Tortoise MLP Fd Tortoise 1.20 -2.36 8.86 81.25 29.70 923 5,347
NHF NexPoint Cr Stgs Fd Highland Capital 1.09 -5.40 9.59 0.00 12.07 602 3,149
ETJ EV Risk-Mgd Divr Eq Incm Fd Eaton Vance 1.12 -4.60 9.36 18.31 0.00 650 3,835
KYN KA MLP Inv Kayne Anderson 1.17 -1.99 9.13 88.75 31.25 2,310 19,334
IGD Voya Glbl Eq Div & Prm Opp Voya 1.15 -5.55 9.15 47.55 0.00 822 2,779
GMZ GS MLP Incm Opp Fd Goldman Sachs 1.22 -6.24 8.48 17.50 30.90 469 3,111
CEM CB Nrg MLP Fd Legg Mason 1.20 -0.78 8.56 67.00 30.67 1,175 9,635
CHW Calamos Glbl Dyn Incm Fd Calamos 1.17 -1.75 8.80 44.06 30.93 574 1,881
IRL New Ireland Fd Kleinwort Benson 1.13 -14.53 9.02 0.00 0.00 75 670
HQH Tekla Health Invstr Tekla 1.16 -6.24 8.75 1.33 0.00 1,030 4,741
KED KA Nrg Dev Kayne Anderson 1.18 -5.77 8.82 85.00 30.49 207 1,338
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 1.15 4.18 8.77 86.57 0.00 1,273 3,086
SRV Cushing MLP Tot Rtn Fd Cushing 1.14 -11.10 8.78 100.00 31.50 93 695
FEI FT MLP & Nrg Incm Fd First Trust 1.11 4.40 9.07 84.04 24.01 701 3,404

DISCLOSURES:

These indexes were created and developed by Closed-End Fund Advisors, Inc. CEF Advisors launched these indexes in January 2017 based on December 31, 2016 data and began pricing on January 1, 2017. CEF Advisors does not guarantee the accuracy or the completeness of the index or any data included therein and CEF Advisors shall have no liability for any errors, omissions or interruptions therein. CEF Advisors makes no warranty, express or implied, as to results to be obtained by any person or entity from the use of the index or any data included therein. CEF Advisors makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, in no event shall CEF Advisors have any liability for any special, punitive, direct, indirect or consequential damages (including lost profits) arising out of matters relating to the use of the index, even if notified of the possibility of such damages.

The historical values above have not been verified by an independent third party. The historical performance data is for illustrative purposes only and does not represent the actual performance of any investment product. No representation is being made that any investment will achieve performance similar to that shown. The index does not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the historical performance shown. The index is unmanaged and an investor cannot invest directly in the index.

Performance information for the index is for illustrative purposes only and does not represent the performance of any actual investment. The historical performance of the price and NAV of the index should not be taken as an indication of future performance, and no assurance can be given as to the index's value on any date. The data for the historical performance of the index was calculated on materially the same basis on which the performance of the index is now calculated. Discounts are the result of a closed-end fund’s market price deviating from its Net Asset Value (NAV).

In case any constituents of the index experience a liquidation, merger, open-ending or are no longer a closed-end fund, we will remove them as of their last day of existence. For mergers, if the merged fund is in the same sub-grouping inside CEFdata.com, then we will replace the merged fund with it's replacement in equal dollar terms. If a fund is liquidated, open-ended, etc, we will remove the fund and its allocation from the index. In this case, for example. If a fund was 2% of the index then future pricing would assume a full allocation was 98%. The 2% is adsorbed on a pro-rata basis by all surviving funds.

© Closed-End Fund Advisors Inc.(CEFadvisors) and CEFdata.com 2017. All rights reserved. Any copying, republication or redistribution of CEFadvisors, CEFdata.com, content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of CEFAdvisors. CEFAdvisors shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.