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 1,153.66 0.22 -0.14 -0.08 2.35 -0.77 3.75 7.03 6.47 0.68 0.68 1.32
NAV 1,131.18 -0.08 -0.29 -0.07 1.98 -0.71 5.53 4.80 6.11 0.90 0.90 1.47
Difference -0.30 -0.15 0.00 -0.38 0.05 1.78 -2.22 -0.36 0.22 0.22 0.14
* 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 - - - - - - - - - 0.64
NAV 2.26 -3.20 -0.88 -1.88 1.09 1.38 -0.04 2.45 0.56 - - - - - - - - - 0.56
Difference 1.14 -0.39 -0.15 0.54 -0.88 -0.36 0.62 -0.62 -0.07 - - - - - - - - - -0.07
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
-3.53%
1Yr Disc
-2.96%
3Yr Disc
-4.75%
5Yr Disc
-4.75%
Rel Disc Range (3yr)
55.83%
Mkt Yield
8.20%
Lev Adj NAV Yield
6.58%
After Tax Yield*
6.85%
Est Tax Friction*
1.35%
3Yr NAV Volatiliy
10.69
1 Yr RoC
20.92%
3 Yr Dest RoC
12.35%
Leverage
23.45%
Non Lev Exp Ratio
1.60%
Beta (2yr)
0.49
Equity Exposure
40.29%
Bond Exposure
58.30%
# Holdings
84
Cash Weighted Duration
2.77
Comp NAV TR
1.40%
Comp Discount
2.10%
Net Assets (M)
1,174
Liquidity - 90d (K)
3,216
* 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 1.19 -8.08 7.95 0.00 30.85 1,421 4,177
JPS Nuv Pref & Incm Sec Fd Nuveen 1.20 -7.88 7.57 0.00 34.56 1,965 4,027
JPC Nuv Pref & Incm Opp Fd Nuveen 1.20 -6.93 7.79 0.14 34.93 1,044 2,197
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 1.20 -1.19 7.15 0.00 33.90 857 1,732
DFP F&C Dyn Pref and Incm Fd Flaherty & Crumrine 1.21 -2.99 7.41 0.00 34.20 474 1,613
LDP C&S Ltd Dur Pref & Incm Fd Cohen & Steers 1.17 -1.37 7.42 2.47 29.30 737 1,429
PDT JH Prm Div Fd John Hancock 1.16 9.25 7.23 3.43 35.29 717 1,201
ARCC Ares Capital Corp Ares 1.21 -0.48 9.07 0.00 40.32 7,179 30,203
PSEC Prospect Capital Corp Prospect Capital 1.21 -25.89 10.53 0.00 40.58 3,353 8,744
MAIN Main Street Cap Corp Main Street Capital 1.22 65.15 5.83 0.00 39.12 1,407 8,112
FSIC FS Investment Corp FB Income 1.30 -13.76 9.62 0.00 42.23 2,221 7,626
HTGC Hercules Capital Hercules 1.23 35.60 9.41 0.00 47.67 902 6,412
CCT Corporate Capital Tr KKR Credit 1.28 -16.08 9.72 0.00 37.53 2,489 5,767
TSLX TPG Specialty Lending TSL Advisers 1.24 12.72 8.51 0.00 43.31 1,056 4,812
RQI C&S Qlty Incm Rty Fd Cohen & Steers 1.17 -8.19 8.08 0.00 25.80 1,413 3,157
RNP C&S REIT & Pref Incm Fd Cohen & Steers 1.18 -10.66 7.69 17.17 25.90 1,030 2,225
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Clarion 1.18 -11.72 7.97 66.50 16.00 995 1,840
AWP Abd Glbl Prmr Prop Fd Aberdeen 1.17 -7.74 9.49 35.98 0.27 585 1,621
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 1.19 -12.76 7.85 4.41 30.71 513 1,213
JRS Nuv Rel-Est Incm Fd Nuveen 1.20 -8.92 8.27 33.99 29.32 314 779
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 1.19 -4.09 10.47 32.44 31.78 255 795
CHY Calamos Convt & Hi Incm Fd Calamos 1.20 9.64 9.25 33.91 32.93 864 2,572
CHI Calamos Convt Opp & Incm Calamos 1.21 7.31 9.48 24.89 32.71 793 2,317
NCV AG Convt & Incm Fd Allianz 1.19 10.97 11.17 4.72 38.58 560 1,442
ACV AG Divr Incm & Convt Fd Allianz 1.24 0.50 8.37 0.00 31.03 245 1,537
CCD Calamos Dyn Convt & Incm Fd Calamos 1.21 3.67 9.08 56.09 32.65 519 1,450
NCZ AG Convt & Incm Fd II Allianz 1.19 6.19 11.50 11.51 38.90 424 1,259
AVK AC Convt Sec & Incm Fd Guggenheim 1.20 -10.20 9.08 38.60 40.30 346 914
EXG EV Tx-Mgd Glol Divr Eq Incm Eaton Vance 1.22 3.56 9.51 90.56 0.00 2,794 5,481
BDJ BR Enh Eq Div Tr BlackRock 1.19 -6.11 6.08 7.02 0.00 1,842 3,841
BST BR Sci & Tech Tr BlackRock 1.24 9.10 5.12 36.10 0.00 721 3,915
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 1.23 0.72 8.03 65.58 0.00 1,870 3,865
QQQX Nuv Nasdaq 100 Dyn Ovr Fd Nuveen 1.16 4.61 6.67 53.24 0.00 882 3,573
NFJ AG NFJ Div Int & Prm Stgy Allianz 1.20 -12.37 7.06 94.92 0.00 1,379 2,970
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 1.21 3.26 8.39 78.16 0.00 1,046 3,008
JQC Nuv Cr Stgs Incm Fd Nuveen 1.19 -12.67 5.60 0.00 36.44 1,233 2,571
FRA BR Flt Rt Incm Stgc Fd BlackRock 1.18 -6.93 5.60 0.00 30.72 553 2,188
HFRO Highland Flt Rt Opp Fd Highland Capital 1.20 4.54 5.82 23.76 1.63 1,090 2,071
BGB B/GSO Stgc Cr Fd Blackstone 1.20 -5.39 7.88 0.00 36.46 754 1,963
VTA Invsc Dyn Cr Opp Fd Invesco 1.16 -12.61 6.56 9.37 32.22 970 1,871
EFT EV Flt-Rt Incm Tr Eaton Vance 1.19 -7.08 5.69 0.00 34.90 625 1,753
PPR Voya Prime Rt Tr Voya 1.17 -11.70 5.66 0.00 25.88 834 1,701
KYN KA MLP Inv Kayne Anderson 1.16 0.72 9.95 93.03 35.59 2,073 5,535
TYG Tortoise Nrg Infra Corp Tortoise 1.17 2.49 9.93 50.00 32.40 1,323 3,858
NTG Tortoise MLP Fd Tortoise 1.07 -3.69 10.99 63.95 35.90 756 3,862
CEM CB Nrg MLP Fd Legg Mason 1.17 -5.11 10.19 57.85 33.30 1,034 2,351
FEI FT MLP & Nrg Incm Fd First Trust 1.18 -0.31 11.00 65.68 26.37 608 2,081
CEN Center Coast MLP & Infr Fd Center Coast 1.20 1.58 13.89 100.00 35.30 218 2,015
JMF Nuv Nrg MLP Total Rtn Fd Nuveen 1.14 -6.07 9.65 96.21 26.50 450 1,658
HYT BR Corp Hi Yld Fd BlackRock 1.19 -11.32 8.23 0.00 30.79 1,483 2,324
GHY Pru Glbl Srt Dur Hi Yld Fd Prudential 1.18 -15.36 7.27 5.30 26.82 658 2,274
ISD Pru Srt Dur Hi Yld Fd Prudential 1.18 -14.15 7.31 0.00 23.27 541 2,138
DSU BR Dbt Stgs Fd BlackRock 1.18 -10.56 7.35 0.33 30.13 661 1,844
KIO KKR Incm Opp Fd KKR Credit 1.18 -5.44 9.08 1.77 24.85 355 1,621
HIX WA Hi Incm Fd II Legg Mason 1.19 -11.64 8.47 1.75 26.90 629 1,437
FSD FT Hi Incm Lng/Srt Fd First Trust 1.18 -13.85 8.66 31.23 20.17 601 1,415
PTY PIMCO Corp & Incm Opp Fd PIMCO 1.20 20.58 8.87 4.19 43.75 1,186 6,213
PCN PIMCO Corp & Incm Stgy Fd PIMCO 1.19 19.42 7.67 5.80 22.07 580 1,438
GDO WA Glbl Corp Dfin Opp Fd Legg Mason 1.17 -7.86 7.33 0.00 23.50 268 564
VBF Invsc Bnd Fd Invesco 1.16 -8.24 4.70 1.53 0.00 218 533
INSI Insight Sel Incm Fd Cutwater 1.17 -8.09 4.29 0.00 0.00 217 477
JHS JH Incm Sec Tr John Hancock 1.19 -7.75 5.25 0.00 34.82 170 439
PIM Putnam Mstr Imd Incm Tr Putnam 1.18 -8.33 5.71 0.00 23.92 270 457
CLM Cornerstone Stgc Val Fd Cornerstone 1.16 9.86 20.55 76.43 0.00 560 8,070
USA Liberty All-Star Eq Fd ALPS 1.23 -4.57 10.18 0.00 0.00 1,355 5,433
CRF Cornerstone Tot Rtn Fd Cornerstone 1.15 11.12 20.32 76.85 0.00 276 4,564
RVT Royce Val Tr Legg Mason 1.17 -10.60 7.65 4.57 4.51 1,609 4,157
GDV Gabelli Div & Incm Tr Gabelli 1.22 -5.21 5.67 38.56 22.00 2,025 2,998
GAB Gabelli Eq Tr Gabelli 1.20 -1.40 9.62 35.46 21.00 1,621 2,861
ADX Adams Divr Eq Fd Adams Express 1.22 -14.37 8.71 0.00 0.00 1,881 2,804
CAF MS China A Shr Fd Morgan Stanley 1.16 -16.02 5.24 0.00 0.00 589 4,631
IGD Voya Glbl Eq Div & Prm Opp Voya 1.20 -2.50 9.87 69.90 0.00 739 2,082
AOD Abd Tot Dyn Div Fd Aberdeen 1.20 -11.39 7.78 20.25 0.29 1,077 2,162
IFN India Fund Aberdeen 1.21 -12.30 11.48 0.00 0.00 778 1,699
BGY BR Enh Intl DivTr BlackRock 1.19 -10.11 7.89 43.42 0.00 701 1,480
TDF Tmp Dragon Fd Templeton 1.18 -13.38 1.63 0.00 0.00 832 1,405
AEF Abd Emrg Mkt Eq Incm Fd Aberdeen 1.19 -13.33 13.20 0.00 0.00 490 1,525
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 1.19 -9.51 5.37 0.00 39.23 3,279 5,219
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 1.18 -12.19 4.95 0.00 39.25 3,881 4,676
NZF Nuv Muni Cr Incm Fd Nuveen 1.19 -8.35 5.51 0.00 38.80 2,230 3,778
NAC Nuv CA Qlty Muni Inc Fd Nuveen 1.19 -12.12 4.97 0.00 38.60 2,214 3,480
NAD Nuv Qlty Muni Incm Fd Nuveen 1.18 -12.03 5.22 0.00 39.16 3,036 3,518
BBN BR Taxable Muni BndTr BlackRock 1.17 -5.95 6.53 0.00 36.28 1,326 3,169
NUV Nuv Muni Val Fd Nuveen 1.18 -5.94 3.92 0.00 2.31 2,089 2,498

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 %