CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

View All Indexes

03. High Yield Bond Index

Data as of

About the Index

Include both leveraged and unleveraged High Yield Bond groupings according to CEFdata.com. 90-day average trade dollar $ liquidity over $500K. Equal weight each fund for the index. 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 1,038.09 -0.09 -0.95 -3.13 -5.32 -3.42 -3.28 10.17 3.71 0.06 -5.43 -4.14
NAV 1,077.03 0.06 -0.75 -2.32 -2.98 -1.80 -0.43 8.20 4.33 -0.29 -3.70 -0.63
Difference 0.15 0.21 0.80 2.34 1.62 2.85 -1.96 0.62 -0.35 1.73 3.51
* 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 -0.69 -1.28 -0.23 -2.18 0.71 -0.18 0.67 1.20 -0.99 0.44 1.92 -0.09 2.28 -4.18 -1.37 - - - -4.20
NAV 1.00 -0.85 -0.54 -0.40 0.74 -0.04 0.24 0.95 0.54 1.30 0.42 0.79 2.52 -1.80 -1.65 - - - -0.35
Difference 1.69 0.42 -0.31 1.78 0.04 0.15 -0.43 -0.25 1.53 0.86 -1.50 0.88 0.25 2.38 -0.28 - - - 3.86
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 2.70 1.34 -1.04 3.00 2.58 1.09 -0.75 2.92 5.93 2.34 -0.72 1.92 3.56 -0.45 -2.34 1.58 -1.25 2.32 8.24
NAV 1.75 1.76 -0.30 3.23 1.24 1.05 0.03 2.33 5.56 1.26 -0.20 1.19 2.25 0.54 -0.58 0.50 0.46 2.71 8.27
Difference -0.95 0.42 0.73 0.23 -1.34 -0.04 0.77 -0.59 -0.37 -1.09 0.51 -0.74 -1.32 0.99 1.76 -1.08 1.70 0.39 0.02
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -2.66 1.30 7.40 5.90 3.66 1.54 1.94 7.30 13.20 3.89 2.39 -0.03 6.34 -2.00 0.18 3.74 1.84 8.18 21.38
NAV -1.95 -0.34 4.41 2.02 4.10 1.23 1.16 6.59 8.61 2.93 2.40 0.93 6.39 0.51 -0.35 2.20 2.37 8.75 17.36
Difference 0.71 -1.65 -2.99 -3.88 0.43 -0.31 -0.78 -0.71 -4.59 -0.96 0.01 0.97 0.05 2.51 -0.52 -1.54 0.52 0.57 -4.02
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 0.80 2.78 -1.33 2.23 1.51 -0.94 -4.06 -3.53 -1.30 -2.48 -3.21 -3.10 -8.54 6.12 -3.41 -0.80 1.68 -6.87 -8.17
NAV 0.49 2.90 -0.22 3.17 1.61 0.57 -1.36 0.80 3.97 -0.80 -2.11 -2.94 -5.75 2.48 -2.01 -3.48 -3.07 -8.82 -4.85
Difference -0.31 0.11 1.11 0.94 0.11 1.51 2.69 4.33 5.27 1.69 1.11 0.16 2.80 -3.64 1.40 -2.68 -4.75 -1.95 3.32

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-11.41%
1Yr Disc
-9.62%
3Yr Disc
-9.10%
5Yr Disc
-8.71%
Rel Disc Range (3yr)
27.60%
Mkt Yield
10.70%
Lev Adj NAV Yield
8.21%
After Tax Yield*
8.12%
Est Tax Friction*
2.58%
3Yr NAV Volatiliy
5.55
1 Yr RoC
3.25%
3 Yr Dest RoC
0.12%
Leverage
23.41%
Non Lev Exp Ratio
1.23%
Beta (2yr)
0.24
Equity Exposure
1.04%
Bond Exposure
92.54%
# Holdings
21
Cash Weighted Duration
3.66
Comp NAV TR
-0.39%
Comp Discount
-1.81%
Net Assets (M)
453
Liquidity - 90d (K)
1,333
* 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


21 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
ACP Abd Incm Cr Stgs Fd Aberdeen 4.10 -10.99 12.79 0.00 31.09 165 994
BGH Barings Glbl Srt Dur Hi Yld Fd Barings 4.47 -11.96 10.59 0.98 29.74 383 1,613
DHY CS Hi Yld Bnd Fd Credit Suisse 4.48 -8.00 10.43 4.16 35.42 259 817
DSU BR Dbt Stgs Fd BlackRock 4.77 -12.37 7.90 1.35 30.05 627 2,146
EAD WF Incm Opp Fd Wells Fargo 4.90 -12.85 9.65 3.68 27.20 590 1,556
EHI WA Glbl Hi Incm Fd Legg Mason 4.92 -13.32 8.39 5.04 27.60 451 958
FSD FT Hi Incm Lng/Srt Fd First Trust 4.75 -15.00 9.19 32.44 20.14 574 1,639
GHY Pru Glbl Srt Dur Hi Yld Fd Prudential 4.92 -14.60 7.39 7.13 29.44 642 1,997
HIO WA Hi Incm Opp Fd Legg Mason 4.85 -13.93 7.05 1.14 0.00 677 1,536
HIX WA Hi Incm Fd II Legg Mason 4.84 -13.75 9.16 4.98 28.10 596 1,709
HYB New Amrc Hi Incm Fd T. Rowe Price 4.75 -13.81 8.26 0.00 29.00 217 461
HYI WA Hi Yld Dfin Opp Fd Legg Mason 4.80 -12.52 7.80 0.00 0.00 355 1,037
HYT BR Corp Hi Yld Fd BlackRock 4.67 -13.90 9.00 0.00 31.48 1,380 3,915
ISD Pru Srt Dur Hi Yld Fd Prudential 4.87 -15.20 7.56 0.00 26.39 529 1,616
IVH Ivy Hi Incm Opp Fd Ivy Investment 4.62 -13.78 9.31 0.00 32.39 248 961
JHB Nuv Hi Incm Nov 2021 Tgt Trm Fd Nuveen 5.12 -1.75 5.84 0.00 25.68 543 1,062
JHD Nuv Hi Incm Dec 2019 Tgt Trm Fd Nuveen 5.11 -0.90 3.94 0.00 0.00 270 543
KIO KKR Incm Opp Fd KKR Credit 4.65 -10.67 10.07 1.77 30.50 339 1,416
NHS NB Hi Yld Stgs Fd Neuberger Berman 4.80 -14.88 7.67 2.57 33.20 236 806
PCF Hi Incm Sec Fd Hi Incm Sec Fd 4.99 -3.39 52.85 2.61 0.00 126 345
PHT Pioneer Hi Incm Tr Pioneer 4.63 -13.52 9.31 0.00 29.90 283 940

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 %