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03. Equity Income Index

Data as of Feb. 17, 2017

About the Index

(1) US Equity, Non-US Equity, Specialty Equity and Hybrid / Balanced Funds groupings according to CEFdata.com with regular distributions monthly or quarterly without a large year-end distribution in both of the past two calendar years. (2) Removing Preferred Equity, Single Country Funds. (3) Funds with US + Non-US Bonds exposure combined under 40%. (4) Top 50% ranked by 90-day average trading dollar ($) liquidity. (5) If there are only 1-3 funds in a group then combine all of these funds equal weight into a double allocation (estimated at 15.2% as each grouping is currently about 7.7% per group, but could change over time). (6) Remove current commodity funds as they are both liquidating in 1Q17; however, allow future commodity funds if they meet the other index criteria. For groups according to CEFdata.com with at least 3 funds, keep them grouped and give each group an equal weighting of the underlying funds. If there are less than 3 funds in the remaining group add them to a separate group. This group will have the double allocation mentioned previously. 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 1,065.17 -0.49 -0.58 3.30 9.59 4.69 32.35 4.62 7.24 1.53 6.52 6.52
NAV 1,155.65 -0.13 0.25 2.70 8.05 4.49 25.47 4.36 7.65 1.97 4.44 4.44
Diference 0.36 0.83 -0.60 -1.54 -0.20 -6.88 -0.27 0.41 0.44 -2.07 -2.07
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,106.48
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 Jul Aug Sep Q3 Oct Nov Dec Q4 2017
Price 4.91 - - - - - - - - - - - - - - - -
NAV 2.43 - - - - - - - - - - - - - - - -

Performance Chart

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Discount

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Characteristics

PORTFOLIO
Weighted Average Data
Discount
-7.39%
1Yr Disc
-8.65%
3Yr Disc
-8.44%
5Yr Disc
-7.29%
Rel Disc Range (3yr)
55.54%
Mkt Yield
8.55%
Lev Adj NAV Yield
7.17%
After Tax Yield*
7.51%
Est Tax Friction*
1.04%
1 Yr RoC
41.91%
3 Yr Dest RoC
28.93%
Leverage
13.51%
Non Lev Exp Ratio
1.34%
3Yr NAV Volatiliy
16.31
Equity Exposure
86.70%
Bond Exposure
11.08%
# Holdings
71
Cash Weighted Duration
Beta (2yr)
1.01
Comp NAV TR
-0.71%
Comp Discount
0.70%
Net Assets (M)
782
Liquidity - 90d (K)
2,819
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Asset Allocation

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

Constituents


71 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
EXG EV Tx-Mgd Glol Divr Eq Incm Eaton Vance 0.56 -5.45 11.25 83.29 0.00 2,764 11,432
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.54 -7.69 9.36 89.19 0.00 1,750 5,185
BDJ BR Enh Eq Div Tr BlackRock 0.53 -11.17 6.71 69.69 0.00 1,776 3,722
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 0.56 -1.55 10.84 86.18 0.00 1,164 4,662
NFJ AG NFJ Div Int & Prm Stgy Allianz 0.54 -11.96 9.16 93.75 0.00 1,411 3,288
BXMX Nuv S&P 500 By-Wrt Inc Fd Nuveen 0.54 -4.61 6.90 10.39 0.00 1,437 3,302
BOE BR Glbl Opp Eq Tr BlackRock 0.55 -11.46 7.62 86.75 0.00 964 3,130
ETJ EV Risk-Mgd Divr Eq Incm Fd Eaton Vance 0.55 -5.74 11.72 84.25 0.00 643 2,988
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 0.53 6.29 8.74 47.53 0.00 914 2,433
CII BR Enh Cap & Incm Fd BlackRock 0.54 -9.79 7.00 87.49 0.00 694 2,236
QQQX Nuv Nasdaq 100 Dyn Ovr Fd Nuveen 0.57 -0.34 6.83 24.18 0.00 752 2,556
EOS EV Enh Eq Incm Fd II Eaton Vance 0.55 -6.89 7.77 73.00 0.00 691 1,819
EOI EV Enh Eq Incm Fd Eaton Vance 0.54 -8.16 8.01 89.31 0.00 552 1,599
STK ClmbSlgmn Prm Tech Gwth Fd Columbia Mngmt 0.54 1.75 9.38 0.00 0.00 298 1,379
AOD Alp Tot Dyn Div Fd Alpine 2.59 -13.86 8.54 16.29 0.00 1,009 4,592
IGD Voya Glbl Eq Div & Prm Opp Voya 2.59 -9.98 10.14 32.18 0.00 782 3,899
EOD WF Glbl Div Opp Fd Wells Fargo 2.47 -12.66 9.66 0.00 0.00 291 1,513
KYN KA MLP Inv Kayne Anderson 0.58 1.85 10.23 100.00 32.57 2,407 9,421
TYG Tortoise Nrg Infra Corp Tortoise 0.61 11.46 7.26 40.00 24.50 1,585 6,344
CEM CB Nrg MLP Fd Legg Mason 0.57 -4.19 8.28 36.50 27.40 1,254 4,389
NTG Tortoise MLP Fd Tortoise 0.57 -0.19 7.99 100.00 26.20 998 3,073
JMF Nuv Nrg MLP Total Rtn Fd Nuveen 0.54 -1.48 9.66 100.00 25.27 559 2,592
FEI FT MLP & Nrg Incm Fd First Trust 0.54 3.40 8.49 99.36 24.68 737 2,502
NML NB MLP Incm Fd Neuberger Berman 0.58 -9.71 6.34 100.00 19.50 653 3,179
CBA CB Amrc Nrg MLP Fd Legg Mason 0.56 -10.44 8.04 100.00 26.04 651 2,569
GER GS MLP & Nrg Renaissance Fd Goldman Sachs 0.61 -4.72 7.55 100.00 31.50 703 2,939
CTR CB Nrg MLP Tot Rtn Fd Legg Mason 0.55 -9.81 8.59 100.00 25.58 575 2,359
EMO CB Nrg MLP Opp Fd Legg Mason 0.54 -9.26 9.40 100.00 28.09 468 2,135
KYE KA Nrg Tot Rtn Fd Kayne Anderson 0.55 -5.96 7.92 59.00 28.65 491 2,384
FMO F/C MLP Opp Fd Guggenheim 0.58 7.69 10.26 100.00 25.85 525 2,316
GMZ GS MLP Incm Opp Fd Goldman Sachs 0.59 -8.22 7.60 100.00 31.60 534 2,074
BGY BR Intl Gwth & Incm Tr BlackRock 1.90 -10.28 7.92 82.44 0.00 706 3,204
INF Brkf Glbl Lstd Infra Incm Fd Brookfield 1.95 -6.01 10.17 72.93 28.77 202 1,502
IDE Voya Infra Ind & Matrls Fd Voya 1.91 -11.09 8.46 65.78 0.00 297 1,162
GLQ Clough Glbl Eq Fd Clough 1.96 -8.35 9.92 56.25 43.10 230 1,384
HQH Tekla Health Invstr Tekla 2.74 -3.33 7.48 0.00 0.00 971 4,566
THQ Tekla Health Opp Fd Tekla 2.66 -9.31 7.92 0.00 21.18 822 3,377
THW Tekla Wld Health Fd Tekla 2.69 -7.79 9.86 3.97 19.38 478 2,613
GDV Gabelli Div & Incm Tr Gabelli 1.89 -9.23 6.33 55.15 23.00 1,893 3,746
ETG EV Tx-Adv Glbl Div Incm Fd Eaton Vance 1.96 -9.37 8.10 6.32 25.90 1,278 4,421
EVT EV Tx-Adv Div Incm Fd Eaton Vance 1.92 -3.37 7.99 0.00 22.00 1,642 3,633
ETO EV Tx-Adv Glbl Div Opp Fd Eaton Vance 1.95 -3.18 9.72 2.76 27.10 333 1,230
RQI C&S Qlty Incm Rty Fd Cohen & Steers 2.49 -7.51 7.64 0.00 23.90 1,482 4,991
JRS Nuv Rel-Est Incm Fd Nuveen 2.48 -4.31 9.01 0.69 30.54 335 1,367
RFI C&S Tot Rtn Ry Fd Cohen & Steers 2.48 -8.09 7.75 0.00 0.00 352 1,408
GGN GAMCO Glbl Gd NtrRes Incm Gabelli 2.57 -3.45 10.71 100.00 10.00 694 5,258
BCX BR Res & Com Stgy Tr BlackRock 2.55 -15.11 6.14 74.83 0.00 1,016 2,835
BGR BR Nrg & Res Tr BlackRock 2.36 -9.86 6.61 69.70 0.00 466 1,271
CSQ Calamos Stgc Tot Rtn Fd Calamos 1.54 -9.39 9.08 55.83 27.31 1,859 4,430
GLO Clough Glbl Opp Fd Clough 1.62 -10.79 10.40 99.74 43.20 574 3,365
FOF C&S CE Opp Fd Cohen & Steers 1.53 -9.45 8.51 42.21 0.00 369 1,078
ZTR Virtus Glbl Div & Inc Fd Virtus 1.44 -8.83 11.94 13.83 27.42 320 1,273
GLV Clough Glbl Div & Incm Fd Clough 1.53 -9.27 9.81 76.00 42.71 145 721
CLM Cornerstone Stgc Val Fd Cornerstone 1.50 14.60 18.05 80.94 0.00 292 4,010
USA Liberty All-Star Eq Fd ALPS 1.51 -14.94 9.61 0.00 1.41 1,188 4,456
CRF Cornerstone Tot Rtn Fd Cornerstone 1.50 16.78 17.78 62.63 0.00 137 2,363
BIF Boulder Gwth & Incm Fd Boulder 1.50 -18.97 4.40 9.65 4.16 1,214 2,275
TY Tri-Cont Corp Columbia Mngmt 1.52 -14.59 4.15 0.00 2.50 1,569 2,051
UTF C&S Infra Fd Cohen & Steers 1.29 -10.26 7.79 0.00 31.20 1,963 5,567
UTG Reaves Util Incm Fd W.H. Reaves 1.29 0.09 5.83 0.00 22.49 1,130 5,038
DNP DNP Sel Incm Fd Duff & Phelps 1.27 9.74 7.29 15.02 27.17 2,766 3,080
DPG D&P Glbl Util Incm Fd Duff & Phelps 1.28 -14.18 8.51 40.64 27.55 727 2,403
BUI BR Util & Infra Tr BlackRock 1.29 -1.71 7.42 48.23 0.00 337 1,079
MGU Macquarie Glbl Infra Tot Rtn Macquarie 1.32 -13.46 6.85 25.00 29.61 311 1,225
NIE AG Eq & Convt Incm Fd Allianz 2.17 -12.13 7.86 0.00 0.00 610 1,819
LGI Lzrd Glbl Tot Rtn & Incm Fd Lazard 2.21 -12.45 6.71 68.57 25.90 161 345
FDEU FT Dyn Euro Eq Incm Fd First Trust 2.23 -9.28 8.79 27.21 N/A 314 1,712
IAE Voya AP Hi Div Eq Incm Fd Voya 2.29 -12.43 8.50 70.05 0.00 136 595
IHD Voya Emrg Mkt Hi Div Eq Fd Voya 2.28 -10.73 8.98 78.69 0.00 176 596
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Clarion 2.13 -14.12 8.02 57.54 8.00 1,016 3,874
BTO JH Fin Opp Fd John Hancock 2.10 2.39 4.01 34.14 14.45 669 3,704

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 the 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.