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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 1,171.65 -0.28 -0.42 -0.75 2.12 6.76 5.54 10.23 7.22 -1.18 2.25 2.89
NAV 1,151.12 0.04 0.11 -0.18 2.59 6.41 6.76 7.69 6.45 -0.49 2.68 3.24
Difference 0.32 0.52 0.57 0.46 -0.35 1.21 -2.54 -0.78 0.68 0.43 0.35
* 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 - - - - - - - 4.07
NAV 2.26 -3.20 -0.88 -1.88 1.09 1.38 -0.04 2.45 0.56 1.95 1.22 - - - - - - - 3.74
Difference 1.14 -0.39 -0.15 0.54 -0.88 -0.36 0.62 -0.62 -0.07 0.05 -0.32 - - - - - - - -0.33
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
-3.65%
1Yr Disc
-3.08%
3Yr Disc
-4.33%
5Yr Disc
-4.79%
Rel Disc Range (3yr)
51.99%
Mkt Yield
8.16%
Lev Adj NAV Yield
6.53%
After Tax Yield*
6.84%
Est Tax Friction*
1.32%
3Yr NAV Volatiliy
10.36
1 Yr RoC
21.84%
3 Yr Dest RoC
7.56%
Leverage
23.45%
Non Lev Exp Ratio
1.60%
Beta (2yr)
0.49
Equity Exposure
40.58%
Bond Exposure
57.97%
# Holdings
84
Cash Weighted Duration
2.68
Comp NAV TR
1.26%
Comp Discount
2.19%
Net Assets (M)
1,199
Liquidity - 90d (K)
3,153
* 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)
FPF FT Imd Dur Pref & Incm Fd First Trust 1.18 -8.19 7.94 0.00 30.78 1,425 3,632
JPS Nuv Pref & Incm Sec Fd Nuveen 1.17 -9.82 7.71 0.00 34.56 1,971 4,661
JPC Nuv Pref & Incm Opp Fd Nuveen 1.17 -9.27 7.96 0.00 34.81 1,048 2,312
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 1.16 -3.39 7.38 0.00 34.50 849 1,666
DFP F&C Dyn Pref and Incm Fd Flaherty & Crumrine 1.19 -3.42 7.49 0.00 34.80 471 1,190
LDP C&S Ltd Dur Pref & Incm Fd Cohen & Steers 1.11 -6.14 7.80 6.88 29.90 737 1,514
PDT JH Prm Div Fd John Hancock 1.17 9.05 7.20 8.47 34.63 722 1,188
ARCC Ares Capital Corp Ares 1.23 1.64 9.00 0.00 36.94 7,268 26,965
PSEC Prospect Capital Corp Prospect Capital 1.31 -21.07 9.76 0.00 39.59 3,412 11,209
MAIN Main Street Cap Corp Main Street Capital 1.22 64.32 5.94 0.00 38.67 1,452 7,556
FSIC FS Investment Corp FB Income 1.16 -19.39 10.63 0.00 41.94 2,124 8,187
HTGC Hercules Capital Hercules 1.25 30.04 9.33 0.00 44.84 979 6,278
CCT Corporate Capital Tr KKR Credit 1.21 -18.79 10.11 0.00 41.09 2,430 5,309
TSLX TPG Specialty Lending TSL Advisers 1.37 26.59 7.53 0.00 43.38 1,065 5,703
RQI C&S Qlty Incm Rty Fd Cohen & Steers 1.22 -6.07 7.75 0.00 24.50 1,439 2,944
RNP C&S REIT & Pref Incm Fd Cohen & Steers 1.20 -9.90 7.53 6.88 25.30 1,043 1,991
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Clarion 1.16 -12.44 8.12 51.33 13.13 984 1,684
AWP Abd Glbl Prmr Prop Fd Aberdeen 1.16 -6.86 9.60 48.49 0.00 573 1,507
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 1.19 -12.28 7.84 5.51 30.41 511 1,315
JRS Nuv Rel-Est Incm Fd Nuveen 1.19 -8.70 8.22 48.80 27.88 316 720
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 1.16 -6.15 10.71 47.61 30.10 255 887
CHY Calamos Convt & Hi Incm Fd Calamos 1.23 10.93 9.10 27.09 32.70 869 2,353
CHI Calamos Convt Opp & Incm Calamos 1.22 7.46 9.42 16.79 32.55 798 2,658
NCV AG Convt & Incm Fd Allianz 1.19 10.51 11.24 16.56 38.81 560 1,486
ACV AG Divr Incm & Convt Fd Allianz 1.27 0.70 8.18 0.00 30.32 250 947
CCD Calamos Dyn Convt & Incm Fd Calamos 1.21 2.53 9.15 45.95 32.33 521 1,397
NCZ AG Convt & Incm Fd II Allianz 1.23 9.77 11.17 26.02 39.13 423 1,273
AVK AC Convt Sec & Incm Fd Guggenheim 1.21 -11.28 8.99 42.82 39.51 609 1,153
EXG EV Tx-Mgd Glol Divr Eq Incm Eaton Vance 1.22 2.79 9.53 90.21 0.00 2,809 5,609
BDJ BR Enh Eq Div Tr BlackRock 1.22 -5.82 5.87 7.02 0.00 1,902 3,355
BST BR Sci & Tech Tr BlackRock 1.23 9.19 5.12 25.71 0.00 722 3,232
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 1.25 -0.23 7.91 51.87 0.00 1,917 3,554
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 1.08 -1.36 7.01 38.53 0.00 912 3,845
NFJ AG NFJ Div Int & Prm Stgy Allianz 1.22 -11.37 6.83 94.50 39.13 1,409 3,252
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 1.23 3.61 8.27 88.77 0.00 1,116 3,262
JQC Nuv Cr Stgs Incm Fd Nuveen 1.18 -13.22 5.82 0.00 36.25 1,242 3,598
FRA BR Flt Rt Incm Stgc Fd BlackRock 1.17 -7.64 5.61 0.00 29.43 556 1,570
HFRO Highland Flt Rt Opp Fd Highland Capital 1.16 2.52 5.98 16.34 1.63 1,082 1,615
BGB B/GSO Stgc Cr Fd Blackstone 1.19 -5.81 7.93 0.00 36.85 753 1,633
VTA Invsc Dyn Cr Opp Fd Invesco 1.17 -13.40 6.52 17.26 31.35 984 1,698
EFT EV Flt-Rt Incm Tr Eaton Vance 1.19 -6.62 5.48 0.00 35.40 627 1,306
PPR Voya Prime Rt Tr Voya 1.16 -12.17 6.02 15.55 28.50 838 2,196
KYN KA MLP/Midstream Inv Co Kayne Anderson 1.15 -5.48 9.93 93.56 31.95 2,417 5,594
TYG Tortoise Nrg Infra Corp Tortoise 1.23 -1.15 9.51 75.00 28.10 1,469 3,520
NTG Tortoise MLP Fd Tortoise 1.14 -4.12 10.36 81.98 27.60 1,075 6,494
CEM CB Nrg MLP Fd Legg Mason 1.24 -5.67 9.70 78.93 31.25 1,093 2,142
FEI FT MLP & Nrg Incm Fd First Trust 1.15 -5.81 9.62 74.37 25.46 622 2,216
CEN Center Coast MLP & Infr Fd Center Coast 1.29 -0.31 13.01 100.00 31.50 280 2,194
JMF Nuv Nrg MLP Total Rtn Fd Nuveen 1.20 -9.30 9.23 96.21 25.91 487 1,685
HYT BR Corp Hi Yld Fd BlackRock 1.19 -11.20 8.19 0.00 30.31 1,480 2,927
GHY Pru Glbl Srt Dur Hi Yld Fd Prudential 1.19 -14.61 7.18 4.67 28.51 661 2,021
ISD Pru Srt Dur Hi Yld Fd Prudential 1.19 -13.46 7.21 0.00 25.88 543 1,435
DSU BR Dbt Stgs Fd BlackRock 1.19 -10.64 7.31 0.96 31.49 665 1,340
KIO KKR Incm Opp Fd KKR Credit 1.18 -5.82 9.08 1.77 28.80 357 1,374
HIX WA Hi Incm Fd II Legg Mason 1.17 -12.55 8.61 3.89 25.62 625 1,224
FSD FT Hi Incm Lng/Srt Fd First Trust 1.19 -13.31 8.53 28.26 17.92 607 1,747
PTY PIMCO Corp & Incm Opp Fd PIMCO 1.21 20.56 8.78 5.27 42.73 1,229 4,652
PCN PIMCO Corp & Incm Stgy Fd PIMCO 1.24 24.49 7.34 7.01 21.77 582 1,408
GDO WA Glbl Corp Dfin Opp Fd Legg Mason 1.15 -9.41 7.50 0.00 23.34 267 482
VBF Invsc Bnd Fd Invesco 1.15 -8.32 4.73 0.89 0.00 217 470
INSI Insight Sel Incm Fd Cutwater 1.16 -7.89 4.31 0.00 0.00 216 322
JHS JH Incm Sec Tr John Hancock 1.16 -7.48 5.13 0.00 34.81 168 285
PIM Putnam Mstr Imd Incm Tr Putnam 1.14 -8.70 5.85 0.00 14.43 265 418
CLM Cornerstone Stgc Val Fd Cornerstone 1.20 8.61 20.27 77.71 0.00 926 7,991
USA Liberty All-Star Eq Fd ALPS 1.27 -3.13 9.97 0.00 0.00 1,387 5,370
CRF Cornerstone Tot Rtn Fd Cornerstone 1.19 10.98 19.94 74.68 0.00 473 4,723
RVT Royce Val Tr Legg Mason 1.23 -6.20 7.21 0.00 4.47 1,651 4,694
GDV Gabelli Div & Incm Tr Gabelli 1.27 -4.83 5.45 4.89 20.00 2,099 2,652
GAB Gabelli Eq Tr Gabelli 1.25 -1.06 9.30 52.16 20.00 1,677 2,597
ADX Adams Divr Eq Fd Adams Express 1.27 -13.44 8.24 0.00 0.00 1,955 2,483
CAF MS China A Shr Fd Morgan Stanley 1.08 -15.12 5.52 0.00 0.00 553 4,265
IGD Voya Glbl Eq Div & Prm Opp Voya 1.20 -4.26 9.88 64.38 0.00 751 2,109
AOD Abd Tot Dyn Div Fd Aberdeen 1.20 -12.34 7.77 18.69 0.00 1,090 2,595
IFN India Fund Aberdeen 1.09 -12.84 12.48 0.00 0.00 712 1,625
BGY BR Enh Intl DivTr BlackRock 1.18 -10.87 7.94 30.67 0.00 702 1,540
TDF Tmp Dragon Fd Templeton 1.09 -10.28 1.12 0.00 0.00 755 2,255
AEF Abd Emrg Mkt Eq Incm Fd Aberdeen 1.14 -14.27 13.53 0.00 9.04 481 1,208
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 1.18 -7.77 5.38 0.00 35.76 3,208 4,024
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 1.15 -12.06 5.06 0.00 36.81 3,792 4,219
NZF Nuv Muni Cr Incm Fd Nuveen 1.18 -6.70 5.52 0.00 38.11 2,184 2,889
NAC Nuv CA Qlty Muni Inc Fd Nuveen 1.15 -12.31 5.11 0.00 36.71 2,156 3,060
NAD Nuv Qlty Muni Incm Fd Nuveen 1.13 -13.08 5.03 0.00 37.16 2,964 3,419
BBN BR Taxable Muni BndTr BlackRock 1.13 -5.84 6.70 0.00 36.64 1,291 2,515
NUV Nuv Muni Val Fd Nuveen 1.15 -6.13 3.98 0.00 0.00 2,058 2,458

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 %