CEF Advisors

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01. 12 Major CEF Sectors Index

Data as of

About the Index

The seven most liquid funds by 90-day average trading dollar $ liquidity in each of the 12 major groupings of funds: Business Development Companies (BDCs), Convertible Bonds, Covered Call Funds, Global Equity, High Yield Bonds, Investment Grade Bonds, Master Limited Partnership (MLP), Municipal Bonds, Preferred Equity, REITs/Real Assets, Senior Loans, and US Equity. Combine leverage and non-leverage groupings into one grouping when calculating the seven funds. The funds will be equal weight in the index. If there are less than seven available funds in a specific grouping, then equal weight the grouping with the smaller number of funds available. Each group will be 1/12 of the indexes over-all 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 1,069.16 -0.17 -2.28 -4.08 -9.35 -8.31 -4.72 8.14 5.08 -2.17 -8.69 -5.86
NAV 1,087.26 0.02 -1.34 -2.64 -5.44 -4.23 -1.31 6.49 4.86 -1.58 -5.61 -2.30
Difference 0.18 0.94 1.44 3.91 4.08 3.41 -1.65 -0.22 0.59 3.08 3.56
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 1.13 -2.81 -0.73 -2.43 1.98 1.74 -0.66 3.07 0.64 1.90 1.54 -1.24 2.19 -7.33 0.72 - - - -3.70
NAV 2.26 -3.20 -0.88 -1.88 1.09 1.38 -0.04 2.45 0.56 1.95 1.22 -0.43 2.74 -4.17 0.08 - - - -0.72
Difference 1.14 -0.39 -0.15 0.54 -0.88 -0.36 0.62 -0.62 -0.07 0.05 -0.32 0.81 0.55 3.16 -0.64 - - - 2.97
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 3.20 2.74 -0.12 5.91 2.79 0.09 0.94 3.84 9.74 1.94 -1.40 1.97 2.49 -0.71 -0.50 2.32 1.10 3.58 13.33
NAV 1.55 1.95 0.26 3.79 1.07 0.64 0.68 2.41 6.20 1.43 -0.21 1.10 2.32 0.39 0.48 1.67 2.54 4.87 11.07
Difference -1.65 -0.79 0.37 -2.11 -1.71 0.55 -0.25 -1.43 -3.54 -0.51 1.19 -0.87 -0.16 1.09 0.97 -0.66 1.45 1.28 -2.26
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -4.92 0.29 6.86 1.90 3.56 1.14 2.65 7.52 9.41 4.00 1.22 -0.56 4.68 -3.13 0.12 2.42 -0.67 4.02 13.43
NAV -3.97 -0.86 4.98 -0.06 2.73 1.33 1.27 5.41 5.35 2.81 0.64 0.37 3.85 -1.11 -0.56 1.67 -0.02 3.82 9.18
Difference 0.95 -1.15 -1.88 -1.96 -0.82 0.19 -1.39 -2.10 -4.06 -1.20 -0.58 0.93 -0.84 2.02 -0.68 -0.75 0.64 -0.19 -4.25
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 1.44 2.83 -0.43 3.86 1.53 -0.75 -4.57 -3.84 0.02 -1.25 -3.50 -4.33 -8.83 6.51 -1.53 -1.81 2.99 -5.84 -5.81
NAV 0.52 2.32 -0.16 2.69 1.26 0.22 -2.34 -0.89 1.80 -0.16 -3.49 -3.31 -6.82 4.37 -1.43 -2.33 0.49 -6.34 -4.54
Difference -0.92 -0.52 0.28 -1.17 -0.27 0.97 2.23 2.94 1.77 1.09 0.01 1.02 2.00 -2.14 0.10 -0.52 -2.50 -0.50 1.27

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-7.32%
1Yr Disc
-4.15%
3Yr Disc
-4.11%
5Yr Disc
-4.89%
Rel Disc Range (3yr)
35.00%
Mkt Yield
9.18%
Lev Adj NAV Yield
7.07%
After Tax Yield*
7.69%
Est Tax Friction*
1.49%
3Yr NAV Volatiliy
9.88
1 Yr RoC
20.72%
3 Yr Dest RoC
5.90%
Leverage
23.62%
Non Lev Exp Ratio
1.53%
Beta (2yr)
0.49
Equity Exposure
39.40%
Bond Exposure
59.19%
# Holdings
84
Cash Weighted Duration
2.45
Comp NAV TR
0.93%
Comp Discount
1.39%
Net Assets (M)
1,121
Liquidity - 90d (K)
3,828
* 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


84 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
JPS Nuv Pref & Incm Sec Fd Nuveen 1.22 -10.65 8.35 0.00 35.23 1,836 5,046
FPF FT Imd Dur Pref & Incm Fd First Trust 1.20 -10.15 8.74 0.00 31.88 1,323 4,432
JPC Nuv Pref & Incm Opp Fd Nuveen 1.24 -8.01 8.50 0.06 35.60 967 3,204
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 1.19 -8.54 8.35 0.00 36.20 793 2,531
LDP C&S Ltd Dur Pref & Incm Fd Cohen & Steers 1.19 -9.26 8.72 10.50 30.00 682 2,235
PDT JH Prm Div Fd John Hancock 1.25 8.18 7.63 13.47 35.58 687 1,185
DFP F&C Dyn Pref and Incm Fd Flaherty & Crumrine 1.18 -9.35 8.60 0.00 36.60 437 1,491
ARCC Ares Capital Corp Ares 1.25 -3.96 9.47 0.00 37.10 7,315 33,470
PSEC Prospect Capital Corp Prospect Capital 1.19 -29.82 10.93 0.00 42.89 3,432 12,194
FSIC FS Investment Corp FB Income 1.12 -32.99 13.13 0.00 41.92 2,066 7,102
MAIN Main Street Cap Corp Main Street Capital 1.28 51.56 6.25 0.00 37.42 1,506 9,525
HTGC Hercules Capital Hercules 1.19 12.33 10.63 0.00 43.74 1,004 5,497
TSLX TPG Specialty Lending TSL Advisers 1.28 19.55 7.92 0.00 43.72 1,077 5,451
CCT Corporate Capital Tr KKR Credit 1.21 -29.32 11.70 0.00 41.65 2,413 6,248
RQI C&S Qlty Incm Rty Fd Cohen & Steers 1.26 -9.53 8.23 0.00 24.50 1,408 3,452
RNP C&S REIT & Pref Incm Fd Cohen & Steers 1.24 -13.57 8.11 6.68 25.30 1,009 2,269
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Clarion 1.21 -15.85 8.97 63.00 11.00 927 2,567
AWP Abd Glbl Prmr Prop Fd Aberdeen 1.20 -12.18 11.09 56.43 0.00 526 1,841
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 1.19 -15.75 8.84 8.08 31.75 472 1,281
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 1.24 -9.80 10.43 39.23 30.40 242 1,146
RFI C&S Tot Rtn Ry Fd Cohen & Steers 1.31 -5.94 7.98 37.88 0.00 334 973
CHI Calamos Convt Opp & Incm Calamos 1.08 -3.24 9.75 20.53 34.36 721 3,644
CHY Calamos Convt & Hi Incm Fd Calamos 1.03 -3.64 9.87 26.03 34.54 784 3,041
NCV AG Convt & Incm Fd Allianz 1.16 8.33 13.04 24.42 40.45 493 2,041
CCD Calamos Dyn Convt & Incm Fd Calamos 1.12 -3.78 10.93 29.70 34.51 465 1,589
NCZ AG Convt & Incm Fd II Allianz 1.15 6.26 13.12 34.74 40.92 373 1,532
AVK AC Convt Sec & Incm Fd Guggenheim 1.13 -14.29 10.52 51.80 31.56 539 1,828
ACV AG Divr Incm & Convt Fd Allianz 1.19 4.24 9.05 0.00 31.60 219 936
EXG EV Tx-Mgd Glol Divr Eq Incm Eaton Vance 1.15 0.86 11.12 91.15 0.00 2,453 7,059
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 1.22 0.50 7.61 39.20 0.00 827 3,999
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 1.14 -3.75 9.15 53.28 0.00 1,716 4,213
BDJ BR Enh Eq Div Tr BlackRock 1.12 -11.33 6.95 7.02 0.00 1,705 3,483
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 1.17 1.13 9.31 72.74 0.00 1,015 4,423
NFJ AG NFJ Div Int & Prm Stgy Allianz 1.14 -14.13 7.83 94.50 0.00 1,268 3,006
BST BR Sci & Tech Tr BlackRock 1.07 5.07 6.25 14.01 0.00 614 3,891
JQC Nuv Cr Stgs Incm Fd Nuveen 1.26 -13.30 6.11 0.00 36.51 1,184 2,941
PPR Voya Prime Rt Tr Voya 1.24 -13.44 6.61 0.00 29.51 802 2,422
VVR Invsc Sr Incm Tr Invesco 1.25 -13.35 5.72 3.79 29.49 850 2,476
JFR Nuv Flt Rt Incm Fd Nuveen 1.23 -11.65 7.48 0.00 37.02 620 1,911
VTA Invsc Dyn Cr Opp Fd Invesco 1.24 -14.40 6.97 15.98 30.46 931 2,400
JRO Nuv Flt Rt Incm Opp Fd Nuveen 1.25 -10.71 7.51 0.00 36.52 439 1,896
BGB B/GSO Stgc Cr Fd Blackstone 1.19 -11.98 9.26 0.00 36.74 723 2,572
NTG Tortoise MLP Fd Tortoise 1.08 -7.71 13.07 80.00 34.30 886 5,444
KYN KA MLP/Midstream Inv Co Kayne Anderson 1.12 -5.24 11.98 83.33 35.34 2,000 8,765
TYG Tortoise Nrg Infra Corp Tortoise 1.08 -4.62 12.08 75.00 30.50 1,198 6,019
FEI FT MLP & Nrg Incm Fd First Trust 1.12 -11.06 11.40 92.68 26.82 556 2,518
CEM CB MLP & Midstream Fd Legg Mason 1.05 -10.58 12.54 100.00 34.01 891 3,374
CEN Center Coast MLP & Infr Fd Center Coast 1.09 -0.90 16.28 100.00 30.70 234 1,637
JMF Nuv Nrg MLP Total Rtn Fd Nuveen 1.07 -9.03 11.27 100.00 28.16 398 1,751
HYT BR Corp Hi Yld Fd BlackRock 1.21 -13.90 9.00 0.00 31.48 1,380 3,915
GHY Pru Glbl Srt Dur Hi Yld Fd Prudential 1.27 -14.60 7.39 7.13 29.44 642 1,997
FSD FT Hi Incm Lng/Srt Fd First Trust 1.23 -15.00 9.19 32.44 20.14 574 1,639
BGH Barings Glbl Srt Dur Hi Yld Fd Barings 1.16 -11.96 10.59 0.98 29.74 383 1,613
ISD Pru Srt Dur Hi Yld Fd Prudential 1.26 -15.20 7.56 0.00 26.39 529 1,616
KIO KKR Incm Opp Fd KKR Credit 1.20 -10.67 10.07 1.77 30.50 339 1,416
DSU BR Dbt Stgs Fd BlackRock 1.23 -12.37 7.90 1.35 30.05 627 2,146
PTY PIMCO Corp & Incm Opp Fd PIMCO 1.15 9.28 10.12 1.35 40.57 1,191 5,848
PCN PIMCO Corp & Incm Stgy Fd PIMCO 1.11 7.31 8.85 0.60 20.40 561 2,333
GDO WA Glbl Corp Dfin Opp Fd Legg Mason 1.25 -10.84 7.96 0.00 24.50 255 742
VBF Invsc Bnd Fd Invesco 1.28 -8.35 4.84 0.89 0.00 213 553
PIM Putnam Mstr Imd Incm Tr Putnam 1.29 -8.14 8.18 0.00 14.33 255 552
IGI WA Inv Grd Dfin Opp Tr Legg Mason 1.18 -3.78 5.49 1.75 0.00 209 587
WEA WA Prmr Bnd Fd Legg Mason 1.26 -7.43 6.39 1.36 25.90 157 383
CLM Cornerstone Stgc Val Fd Cornerstone 1.19 9.35 20.06 84.05 0.00 812 8,007
USA Liberty All-Star Eq Fd ALPS 1.09 -7.62 11.23 0.00 0.00 1,216 5,764
CRF Cornerstone Tot Rtn Fd Cornerstone 1.16 9.96 19.98 82.01 0.00 414 4,726
RVT Royce Val Tr Legg Mason 1.05 -11.70 11.27 0.00 4.42 1,383 4,512
GDV Gabelli Div & Incm Tr Gabelli 1.08 -10.13 6.76 0.00 20.00 1,790 3,531
GAB Gabelli Eq Tr Gabelli 1.12 0.18 11.49 65.94 20.00 1,406 3,539
ADX Adams Divr Eq Fd Adams Express 1.04 -14.72 15.00 0.00 0.00 1,577 3,343
CAF MS China A Shr Fd Morgan Stanley 1.22 -14.69 8.95 0.00 0.00 496 2,245
AOD Abd Tot Dyn Div Fd Aberdeen 1.16 -14.97 9.00 12.91 0.00 970 3,108
TDF Tmp Dragon Fd Templeton 1.14 -12.45 1.28 0.00 0.00 675 2,506
IGD Voya Glbl Eq Div & Prm Opp Voya 1.13 -9.30 11.73 64.67 0.00 668 1,953
IFN India Fund Aberdeen 1.30 -13.42 13.30 0.00 0.00 667 2,370
BGY BR Enh Intl DivTr BlackRock 1.18 -12.78 7.92 14.27 0.00 635 1,954
AEF Abd Emrg Mkt Eq Incm Fd Aberdeen 1.24 -13.33 14.26 0.00 9.04 449 905
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 1.30 -13.47 5.15 0.00 39.94 3,783 8,995
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 1.27 -10.70 5.61 0.00 40.04 3,180 7,315
NAD Nuv Qlty Muni Incm Fd Nuveen 1.30 -13.96 5.08 0.00 39.92 2,963 7,239
NAC Nuv CA Qlty Muni Inc Fd Nuveen 1.31 -13.77 5.21 0.00 39.18 2,146 5,728
NZF Nuv Muni Cr Incm Fd Nuveen 1.26 -10.26 5.77 0.00 39.67 2,175 5,060
NUV Nuv Muni Val Fd Nuveen 1.32 -5.72 3.96 0.00 2.37 2,063 4,029
BBN BR Taxable Muni BndTr BlackRock 1.32 -6.00 6.74 0.00 37.17 1,285 4,357

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.

Class E Units       8% PIK             8.00 %   11/6/2021     4,055,099       4,055,099       4,055,099       2.32 %