CEF Advisors

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08. US Bond Index

Data as of

About the Index

(1) Taxable Bond Funds groupings according to CEFdata.com. (2) Removing funds with US / Non US Equity allocations over 5% each. (3) US Bond allocation over 80%. (4) 1 Year Trailing Income dividend classification over 80%. (5) 90-day average trade dollar $ liquidity over $250K. 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 1,055.87 -1.08 -1.88 -3.30 -6.93 -5.11 -3.13 9.90 5.02 -1.71 -6.62 -4.10
NAV 1,093.02 -0.27 -0.94 -1.84 -2.71 -1.47 0.19 8.28 5.02 -0.98 -3.30 -0.18
Difference 0.80 0.95 1.46 4.22 3.64 3.32 -1.62 -0.00 0.73 3.32 3.93
* 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 -0.45 -0.53 0.60 -0.38 0.79 0.38 -0.00 1.17 0.79 0.75 0.97 -0.00 1.72 -3.88 -1.16 - - - -2.39
NAV 1.04 -0.60 -0.11 0.32 0.42 0.15 0.09 0.67 0.99 1.15 0.36 0.62 2.14 -1.20 -1.15 - - - 0.80
Difference 1.49 -0.07 -0.71 0.70 -0.37 -0.23 0.10 -0.50 0.19 0.40 -0.61 0.62 0.41 2.68 0.00 - - - 3.19
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 3.30 1.82 -0.59 4.56 2.28 0.90 0.30 3.51 8.07 1.82 -0.55 1.15 2.43 -0.17 -1.75 1.42 -0.51 1.91 9.98
NAV 1.78 1.33 0.17 3.30 1.15 1.11 0.42 2.70 6.00 1.16 0.28 0.71 2.17 0.68 -0.06 0.48 1.10 3.27 9.27
Difference -1.53 -0.50 0.76 -1.26 -1.13 0.21 0.12 -0.81 -2.07 -0.66 0.83 -0.44 -0.26 0.84 1.69 -0.95 1.61 1.35 -0.71
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -2.67 -0.57 7.57 4.10 3.01 1.40 1.62 6.14 10.24 3.98 2.18 0.22 6.48 -0.45 0.22 3.10 2.86 9.34 19.58
NAV -1.71 -0.89 4.00 1.31 3.22 1.06 1.17 5.53 6.85 2.62 1.83 1.31 5.87 0.84 -0.17 1.79 2.48 8.35 15.20
Difference 0.97 -0.33 -3.56 -2.78 0.21 -0.34 -0.45 -0.61 -3.39 -1.36 -0.35 1.09 -0.61 1.29 -0.38 -1.31 -0.38 -0.99 -4.38
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 0.92 2.72 -0.43 3.22 1.51 -0.87 -3.47 -2.87 0.35 -1.02 -2.60 -1.92 -5.45 4.10 -1.94 -0.55 1.52 -3.92 -3.57
NAV 0.68 2.15 0.09 2.94 1.35 0.42 -0.99 0.77 3.70 -0.27 -1.54 -2.04 -3.81 1.44 -1.50 -2.48 -2.55 -6.36 -2.66
Difference -0.24 -0.57 0.51 -0.28 -0.16 1.29 2.48 3.63 3.35 0.75 1.06 -0.12 1.64 -2.66 0.44 -1.93 -4.08 -2.44 0.91

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-8.72%
1Yr Disc
-5.53%
3Yr Disc
-5.28%
5Yr Disc
-5.98%
Rel Disc Range (3yr)
22.57%
Mkt Yield
8.49%
Lev Adj NAV Yield
6.20%
After Tax Yield*
6.40%
Est Tax Friction*
2.09%
3Yr NAV Volatiliy
4.66
1 Yr RoC
1.51%
3 Yr Dest RoC
0.19%
Leverage
28.01%
Non Lev Exp Ratio
1.37%
Beta (2yr)
0.12
Equity Exposure
2.39%
Bond Exposure
94.30%
# Holdings
91
Cash Weighted Duration
3.49
Comp NAV TR
0.24%
Comp Discount
0.30%
Net Assets (M)
455
Liquidity - 90d (K)
1,523
* 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


91 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
ACP Abd Incm Cr Stgs Fd Aberdeen 0.95 -11.83 12.88 0.00 31.09 166 1,017
AFT Apollo Sr Flt Rt Fd Apollo Credit 1.08 -13.40 8.29 0.00 34.05 260 1,317
AIF Apollo Tactical Incm Fd Apollo Credit 1.08 -14.65 9.15 0.00 33.68 238 894
ARDC Ares Dyn Cr Alloc Fd Ares 1.09 -16.03 9.12 0.00 29.16 387 1,629
AWF AB Glbl Hi Incm Fd AllianceBernstein 1.09 -14.94 7.84 0.00 29.33 1,085 2,762
BGB B/GSO Stgc Cr Fd Blackstone 1.06 -12.64 9.36 0.00 36.74 721 2,698
BGH Barings Glbl Srt Dur Hi Yld Fd Barings 1.04 -12.50 10.67 0.98 29.74 382 1,626
BGIO 2022 Glbl Incm Opp Tr BlackRock 1.12 -8.11 7.15 0.00 17.53 202 595
BGT BR Flt Rt Incm Fd BlackRock 1.08 -12.80 6.19 0.00 29.53 325 1,013
BGX B/GSO Lng-Srt Cr Incm Fd Blackstone 1.09 -11.62 9.61 0.00 38.36 210 1,182
BHK BR Core Bnd Tr BlackRock 1.13 -9.97 6.40 0.00 29.37 730 1,481
BIT BR Mlt-Sctr Incm Tr BlackRock 1.11 -13.43 8.87 2.25 34.53 688 2,101
BKT BR Incm Tr BlackRock 1.20 -7.41 7.18 7.58 30.44 396 645
BLW BR Ltd Dur Incm Tr BlackRock 1.09 -14.55 6.97 0.00 27.32 583 1,623
BSL B/GSO Sr Flt Rt Trm Fd Blackstone 1.06 -6.75 8.01 0.00 32.78 262 975
BTZ BR Cr Alloc Incm Tr BlackRock 1.12 -13.88 6.97 0.00 32.92 1,403 2,786
CBH AG Convt & Incm 2024 Tgt Trm Allianz 1.07 -11.71 6.72 1.67 28.41 170 432
CIK CS Ast Mgmt Incm Fd Credit Suisse 1.07 -13.68 9.51 0.03 29.65 172 528
DCF DA Glbl Cr Incm 2024 Tgt Trm Dreyfus 1.06 -12.02 8.12 0.00 29.40 136 388
DHF Dreyfus Hi Yld Stgs Fd Dreyfus 1.06 -10.38 9.89 0.00 31.90 231 514
DHY CS Hi Yld Bnd Fd Credit Suisse 1.04 -9.16 10.53 4.16 35.42 260 805
DMO WA Mortg Dfin Opp Fd Legg Mason 1.13 2.67 9.77 0.00 31.40 219 847
DSL DbLin Incm Solutions Fd Doubleline 1.03 -10.10 10.37 1.56 30.24 1,957 7,342
DSU BR Dbt Stgs Fd BlackRock 1.09 -13.91 8.10 1.35 30.05 622 2,213
EAD WF Incm Opp Fd Wells Fargo 1.13 -13.62 9.79 2.90 27.20 587 1,566
EFF EV Flt-Rt Inc+ Fd Eaton Vance 1.10 -14.08 6.58 0.00 36.10 129 466
EFL EV Flt-Rt 2022 Tgt Trm Tr Eaton Vance 1.11 -6.77 6.08 0.00 35.70 220 684
EFR EV Sr Flt-Rt Tr Eaton Vance 1.10 -12.17 6.56 0.00 35.00 545 2,384
EFT EV Flt-Rt Incm Tr Eaton Vance 1.07 -13.15 6.42 0.00 34.60 600 1,906
EHT EV Hi Incm 2021 Tgt Trm Tr Eaton Vance 1.13 -5.43 5.33 0.00 24.00 209 448
ERC WF Mlt-Sctr Incm Fd Wells Fargo 1.12 -12.68 11.14 0.00 30.30 410 1,595
EVF EV Sr Incm Tr Eaton Vance 1.11 -13.49 6.37 0.00 35.20 264 950
EVG EV Srt Dur Divr Incm Fd Eaton Vance 1.16 -13.32 6.18 5.03 37.90 260 556
EVV EV Ltd Dur Incm Fd Eaton Vance 1.12 -15.80 6.77 6.87 37.10 1,639 3,552
FCT FT Sr Flt Rt Incm Fd II First Trust 1.08 -14.16 6.25 9.37 29.57 358 1,397
FIV FT Sr Flt Rt 2022 Tgt Trm Fd First Trust 1.09 -7.91 5.89 0.00 30.70 331 784
FRA BR Flt Rt Incm Stgc Fd BlackRock 1.06 -13.51 6.30 0.00 29.43 527 2,109
GDO WA Glbl Corp Dfin Opp Fd Legg Mason 1.12 -12.19 8.05 0.64 24.50 256 766
GGM Gghm Cr Alloc Fd Guggenheim 1.06 -1.12 11.18 0.57 31.02 145 535
GHY Pru Glbl Srt Dur Hi Yld Fd Prudential 1.14 -15.36 7.49 6.59 29.44 639 2,033
HIO WA Hi Incm Opp Fd Legg Mason 1.12 -14.86 7.11 1.14 0.00 678 1,580
HIX WA Hi Incm Fd II Legg Mason 1.13 -14.43 9.21 5.93 28.10 597 1,759
HNW Pioneer Divr Hi Incm Tr Pioneer 1.08 -15.66 8.60 0.00 31.80 131 323
HYB New Amrc Hi Incm Fd T. Rowe Price 1.10 -14.99 8.38 0.00 29.00 217 458
HYI WA Hi Yld Dfin Opp Fd Legg Mason 1.12 -13.09 7.84 0.00 0.00 355 1,024
HYT BR Corp Hi Yld Fd BlackRock 1.09 -13.51 9.00 0.00 31.48 1,374 4,088
IGI WA Inv Grd Dfin Opp Tr Legg Mason 1.05 -5.67 5.58 2.61 0.00 210 593
IHIT Invsc Hi Incm 2023 Tgt Trm Fd Invesco 1.18 -0.90 6.08 0.00 24.91 239 547
ISD Pru Srt Dur Hi Yld Fd Prudential 1.12 -16.03 7.66 0.00 26.39 527 1,673
IVH Ivy Hi Incm Opp Fd Ivy Investment 1.05 -14.62 9.55 0.00 32.39 244 1,005
JCO Nuveen Cr Opp 2022 Tgt Trm Fd Nuveen 1.12 -4.28 6.30 0.00 29.56 259 504
JFR Nuv Flt Rt Incm Fd Nuveen 1.08 -13.33 7.69 0.00 37.61 615 1,936
JGH Nuv Glbl Hi Incm Fd Nuveen 1.08 -15.28 9.15 0.56 30.45 385 821
JHB Nuv Hi Incm Nov 2021 Tgt Trm Fd Nuveen 1.18 -3.10 5.94 0.00 25.68 541 1,096
JHD Nuv Hi Incm Dec 2019 Tgt Trm Fd Nuveen 1.20 -0.40 3.93 0.00 0.00 270 568
JHI JH Invstr Tr John Hancock 1.07 -10.96 8.66 0.00 37.01 143 323
JHS JH Incm Sec Tr John Hancock 1.13 -9.01 6.50 0.00 35.53 164 259
JHY Nuv Hi Incm 2020 Tgt Trm Fd Nuveen 1.23 4.39 4.68 0.00 28.72 151 387
JRO Nuv Flt Rt Incm Opp Fd Nuveen 1.08 -13.14 7.79 0.00 37.10 435 1,771
JSD Nuv Srt Dur Cr Opp Fd Nuveen 1.04 -11.78 8.42 0.00 38.22 169 860
MCI Barings Corp Invstr Barings 1.19 -0.85 7.92 0.00 8.92 307 308
NCV AG Convt & Incm Fd Allianz 1.01 6.81 13.45 26.19 40.45 485 2,023
NHS NB Hi Yld Stgs Fd Neuberger Berman 1.11 -15.53 7.76 2.38 33.20 235 824
NSL Nuv Sr Incm Fd Nuveen 1.09 -13.62 7.63 0.00 38.05 249 822
OXLC Oxford Lane Cap Corp Oxford Lane 1.09 -4.03 17.00 0.00 33.73 361 3,123
PAI WA Inv Grd Incm Fd Legg Mason 1.24 -0.28 4.91 0.00 0.00 134 350
PCF Hi Incm Sec Fd Hi Incm Sec Fd 1.17 -3.39 52.85 0.00 0.00 126 364
PCI PIMCO Dyn Cr & Mortg Incm PIMCO 1.09 -2.89 9.01 0.00 45.82 3,088 14,151
PCM PCM Fund PIMCO 1.07 2.44 9.54 0.00 38.44 114 388
PCN PIMCO Corp & Incm Stgy Fd PIMCO 0.98 6.41 9.04 0.52 20.40 554 2,332
PDI PIMCO Dyn Incm Fd PIMCO 1.07 9.51 8.83 0.00 38.74 1,538 8,875
PFL PIMCO Incm Stgy Fd PIMCO 1.07 0.57 10.27 4.16 23.90 268 838
PFN PIMCO Incm Stgy Fd II PIMCO 1.08 0.43 10.17 0.00 23.05 565 2,361
PHD Pioneer Flt Rt Tr Pioneer 1.10 -13.81 7.08 0.00 32.10 292 1,039
PHT Pioneer Hi Incm Tr Pioneer 1.06 -14.38 9.49 0.00 29.90 281 989
PIM Putnam Mstr Imd Incm Tr Putnam 1.15 -9.39 8.29 0.00 14.33 255 544
PKO PIMCO Incm Opp Fd PIMCO 1.08 4.13 9.22 0.00 32.10 368 1,665
PPR Voya Prime Rt Tr Voya 1.10 -14.63 6.74 0.00 29.51 798 2,467
PPT Putnam Prmr Incm Tr Putnam 1.11 -8.63 8.62 0.00 13.01 569 1,761
PTY PIMCO Corp & Incm Opp Fd PIMCO 1.01 7.90 10.38 1.19 40.57 1,175 5,797
RCS PIMCO Stgc Incm Fd PIMCO 1.16 36.39 9.22 17.59 41.77 296 1,397
TLI WA Corp Ln Fd Legg Mason 1.11 -14.74 6.91 1.45 32.50 107 405
TSI TCW Stgc Incm Fd TCW 1.15 -7.23 5.74 2.11 0.00 277 437
TSLF THL Cr Sr Ln Fd THL Credit 1.10 -12.60 7.87 0.00 29.80 131 538
VBF Invsc Bnd Fd Invesco 1.15 -8.35 4.86 0.99 0.00 211 549
VLT Invsc Hi Incm Tr II Invesco 1.13 -12.97 8.93 12.68 27.74 121 366
VVR Invsc Sr Incm Tr Invesco 1.10 -14.59 5.88 3.30 29.49 839 2,396
WEA WA Prmr Bnd Fd Legg Mason 1.16 -6.35 6.30 1.80 25.90 157 402
WIA WA Inf-Lnk Incm Fd Western Asset 1.13 -12.98 3.86 1.34 30.00 359 664
WIW WA Inf-Lnk Opp & Incm Fd Western Asset 1.12 -13.90 4.20 0.00 29.24 731 1,305
XFLT XAI Octgn Flt Rt & Alt Incm Trm XA Investments 1.02 -8.53 10.02 0.00 31.40 75 190

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 %