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 1,161.63 0.29 -0.34 3.58 2.97 4.29 14.30 7.20 6.81 1.95 1.95 1.95
NAV 1,140.58 0.23 0.06 3.75 4.42 6.25 13.21 5.88 7.19 2.27 2.27 2.27
Difference -0.05 0.40 0.17 1.46 1.96 -1.09 -1.32 0.39 0.32 0.32 0.32
* 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 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
-5.06%
1Yr Disc
-3.59%
3Yr Disc
-5.66%
5Yr Disc
-4.46%
Rel Disc Range (3yr)
58.85%
Mkt Yield
7.96%
Lev Adj NAV Yield
6.32%
After Tax Yield*
6.65%
Est Tax Friction*
1.31%
3Yr NAV Volatiliy
10.82
1 Yr RoC
22.61%
3 Yr Dest RoC
11.18%
Leverage
22.66%
Non Lev Exp Ratio
1.52%
Beta (2yr)
0.62
Equity Exposure
41.69%
Bond Exposure
56.57%
# Holdings
84
Cash Weighted Duration
2.64
Comp NAV TR
1.62%
Comp Discount
0.45%
Net Assets (M)
1,199
Liquidity - 90d (K)
4,506
* 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 1.11 -5.90 7.65 0.00 33.13 2,107 4,907
FPF FT Imd Dur Pref & Incm Fd First Trust 1.15 -4.81 7.71 0.00 30.92 1,516 4,439
JPC Nuv Pref & Incm Opp Fd Nuveen 1.13 -6.74 7.82 1.43 33.61 1,105 3,041
LDP C&S Ltd Dur Pref & Incm Fd Cohen & Steers 1.16 -5.22 7.26 0.00 28.60 784 1,942
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 1.11 -3.66 7.32 0.00 33.30 895 2,103
PDT JH Prm Div Fd John Hancock 1.09 7.24 7.31 12.62 33.23 721 1,609
DFP F&C Dyn Pref and Incm Fd Flaherty & Crumrine 1.14 -0.57 7.13 0.00 33.30 503 1,196
ARCC Ares Capital Corp Ares 1.19 -3.03 9.51 0.00 38.54 7,030 30,316
PSEC Prospect Capital Corp Prospect Capital 1.20 -24.89 10.51 0.00 43.15 3,287 25,227
FSIC FS Investment Corp FB Income 1.25 -18.88 9.93 0.00 41.43 2,317 13,835
CCT Corporate Capital Tr KKR Credit 1.24 -17.09 6.46 0.00 37.51 2,729 11,091
MAIN Main Street Cap Corp Main Street Capital 1.15 64.94 5.87 0.00 39.07 1,367 9,809
TCAP Triangle Capital Corp Triangle Capital 1.26 -22.27 11.70 0.00 46.28 630 6,975
AINV Apollo Inv Corp Apollo Investment 1.22 -13.99 10.38 0.00 36.04 1,468 5,991
RQI C&S Qlty Incm Rty Fd Cohen & Steers 1.08 -8.31 8.21 0.00 23.90 1,393 3,898
AWP Alp Glbl Prmr Prop Fd Alpine 1.18 -10.85 8.80 73.85 0.00 653 2,604
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Clarion 1.14 -12.61 7.73 66.00 16.00 1,035 2,394
RNP C&S REIT & Pref Incm Fd Cohen & Steers 1.08 -10.09 7.56 38.80 24.50 1,042 2,259
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 1.17 -9.24 7.15 0.83 29.36 541 1,654
RIF RMR Rel-Est Incm Fd RMR 1.10 -17.77 7.35 0.00 24.00 223 825
RFI C&S Tot Rtn Ry Fd Cohen & Steers 1.14 -2.90 7.74 26.03 0.00 334 1,032
CHY Calamos Convt & Hi Incm Fd Calamos 1.21 0.75 9.88 44.94 32.73 876 2,528
CHI Calamos Convt Opp & Incm Calamos 1.18 -1.67 10.16 44.41 32.42 806 3,346
NCV AG Convt & Incm Fd Allianz 1.20 5.94 10.94 0.00 37.60 597 2,554
NCZ AG Convt & Incm Fd II Allianz 1.20 4.30 10.95 11.10 37.92 452 1,465
CCD Calamos Dyn Convt & Incm Fd Calamos 1.20 -3.80 9.78 57.02 31.94 520 1,335
AVK AC Convt Sec & Incm Fd Guggenheim 1.20 -9.76 8.58 14.83 38.61 362 1,257
ACV AG Divr Incm & Convt Fd Allianz 1.21 -5.86 8.91 0.00 30.90 245 984
EXG EV Tx-Mgd Glol Divr Eq Incm Eaton Vance 1.22 -0.51 9.33 91.70 0.00 2,965 7,229
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 1.20 -1.34 8.08 57.05 0.00 1,896 4,410
BDJ BR Enh Eq Div Tr BlackRock 1.19 -7.90 5.94 0.00 0.00 1,922 3,987
NFJ AG NFJ Div Int & Prm Stgy Allianz 1.23 -11.84 6.68 93.33 0.00 1,450 4,079
BST BR Sci & Tech Tr BlackRock 1.28 -1.18 5.34 86.21 0.00 662 3,826
ETJ EV Risk-Mgd Divr Eq Incm Fd Eaton Vance 1.18 -4.60 9.36 18.31 0.00 650 3,835
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 1.18 1.44 8.59 83.21 0.00 993 2,796
HFRO Highland Flt Rt Opp Fd Highland Capital 1.17 1.90 5.93 15.40 2.01 1,097 3,465
JQC Nuv Cr Stgs Incm Fd Nuveen 1.16 -10.02 6.98 0.00 36.48 1,233 4,761
VTA Invsc Dyn Cr Opp Fd Invesco 1.19 -9.89 6.28 11.16 31.44 982 4,064
BGB B/GSO Stgc Cr Fd Blackstone 1.17 -7.75 8.02 0.00 35.47 761 2,976
PPR Voya Prime Rt Tr Voya 1.18 -10.21 5.18 0.00 27.91 839 2,892
JFR Nuv Flt Rt Incm Fd Nuveen 1.15 -4.26 7.35 0.00 36.68 655 2,601
VVR Invsc Sr Incm Tr Invesco 1.18 -9.76 5.27 9.15 30.26 886 2,839
KYN KA MLP Inv Kayne Anderson 1.24 -1.99 9.13 88.75 31.25 2,310 19,334
TYG Tortoise Nrg Infra Corp Tortoise 1.24 0.85 8.51 75.00 27.40 1,506 10,662
CEM CB Nrg MLP Fd Legg Mason 1.27 -0.78 8.56 67.00 30.67 1,175 9,635
NTG Tortoise MLP Fd Tortoise 1.27 -2.36 8.86 81.25 29.70 923 5,347
FMO F/C MLP Opp Fd Guggenheim 1.27 -0.90 12.01 100.00 35.43 512 4,463
GER GS MLP & Nrg Renaissance Fd Goldman Sachs 1.34 -4.21 9.08 24.28 33.36 582 4,555
CBA CB Amrc Nrg MLP Fd Legg Mason 1.28 -3.91 8.79 25.00 30.67 555 4,065
HYT BR Corp Hi Yld Fd BlackRock 1.17 -10.99 7.69 0.00 30.21 1,553 4,704
GHY Pru Glbl Srt Dur Hi Yld Fd Prudential 1.17 -12.03 7.50 1.98 27.41 670 3,263
KIO KKR Incm Opp Fd KKR Credit 1.16 -8.11 9.39 0.00 29.58 354 2,804
ISD Pru Srt Dur Hi Yld Fd Prudential 1.19 -9.68 7.43 0.00 20.86 550 3,202
FSD FT Hi Incm Lng/Srt Fd First Trust 1.18 -8.00 9.26 11.64 20.09 539 2,529
HIO WA Hi Incm Opp Fd Legg Mason 1.15 -10.89 6.61 3.81 0.00 724 2,370
HIX WA Hi Incm Fd II Legg Mason 1.16 -9.74 7.94 3.19 26.35 664 2,478
PTY PIMCO Corp & Incm Opp Fd PIMCO 1.18 10.43 9.44 2.00 42.33 1,211 5,573
PCN PIMCO Corp & Incm Stgy Fd PIMCO 1.15 11.11 8.04 4.28 21.36 593 1,581
GDO WA Glbl Corp Dfin Opp Fd Legg Mason 1.15 -6.99 7.70 0.00 22.44 284 615
PIM Putnam Mstr Imd Incm Tr Putnam 1.18 -5.51 6.50 1.63 23.98 272 639
IGI WA Inv Grd Dfin Opp Tr Legg Mason 1.10 2.92 4.74 0.00 0.00 226 489
VBF Invsc Bnd Fd Invesco 1.16 -1.35 4.18 1.19 0.00 228 484
DUC D&P Util & Corp Bnd Tr Duff & Phelps 1.16 -7.87 4.78 40.26 32.00 262 632
GAB Gabelli Eq Tr Gabelli 1.22 -4.56 9.40 93.93 20.00 1,709 6,213
USA Liberty All-Star Eq Fd ALPS 1.27 -8.39 10.81 2.23 0.75 1,386 5,129
CLM Cornerstone Stgc Val Fd Cornerstone 1.21 13.90 17.76 56.84 0.00 618 4,665
ADX Adams Divr Eq Fd Adams Express 1.23 -14.89 8.75 0.00 0.00 1,886 4,115
RVT Royce Val Tr Legg Mason 1.22 -7.88 8.26 10.47 4.63 1,529 4,074
GDV Gabelli Div & Incm Tr Gabelli 1.22 -7.37 5.41 59.62 21.00 2,171 3,591
CRF Cornerstone Tot Rtn Fd Cornerstone 1.21 15.80 17.44 56.22 0.00 305 3,320
CAF MS China A Shr Fd Morgan Stanley 1.32 -11.38 4.61 0.00 0.00 652 3,658
IGD Voya Glbl Eq Div & Prm Opp Voya 1.22 -5.55 9.15 47.55 0.00 822 2,779
AOD Alp Tot Dyn Div Fd Alpine 1.22 -8.44 6.99 21.32 3.16 1,160 2,867
IFN India Fund Aberdeen 1.38 -9.03 11.38 0.00 0.00 858 2,873
BGY BR Enh Intl DivTr BlackRock 1.21 -6.23 6.74 80.49 0.00 787 2,046
FDEU FT Dyn Euro Eq Incm Fd First Trust 1.24 -3.26 7.31 42.90 22.68 354 1,365
TDF Tmp Dragon Fd Templeton 1.29 -10.84 1.45 0.00 0.00 908 1,316
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 1.15 -10.25 5.16 0.00 36.67 3,947 6,122
NAD Nuv Qlty Muni Incm Fd Nuveen 1.14 -10.68 5.03 0.00 36.23 3,099 6,010
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 1.15 -6.90 5.70 0.00 36.74 3,318 5,785
NZF Nuv Muni Cr Incm Fd Nuveen 1.15 -6.09 5.61 0.00 35.76 2,265 4,750
NAC Nuv CA Qlty Muni Inc Fd Nuveen 1.15 -8.84 4.97 0.00 35.63 2,249 4,391
BTT BR Muni 2030 Tgt Trm Tr BlackRock 1.15 -8.47 3.91 0.00 36.93 1,698 3,244
VMO Invsc Muni Opp Tr Invesco 1.16 -8.84 5.42 0.00 42.00 907 2,916

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.

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