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 1,105.45 -0.38 0.69 -2.03 -0.71 0.24 0.06 9.66 5.90 -2.23 -2.23 0.28
NAV 1,122.53 -0.17 -0.15 -0.15 0.88 1.58 3.20 7.87 5.87 -0.69 -0.69 2.43
Difference 0.21 -0.84 1.88 1.58 1.34 3.14 -1.79 -0.03 1.54 1.54 2.15
* 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 - - - - - 2.51
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 - - - - - 3.12
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 - - - - - 0.61
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
-6.74%
1Yr Disc
-4.90%
3Yr Disc
-5.40%
5Yr Disc
-5.89%
Rel Disc Range (3yr)
34.57%
Mkt Yield
7.29%
Lev Adj NAV Yield
5.35%
After Tax Yield*
5.50%
Est Tax Friction*
1.79%
3Yr NAV Volatiliy
4.74
1 Yr RoC
1.40%
3 Yr Dest RoC
0.20%
Leverage
27.56%
Non Lev Exp Ratio
1.37%
Beta (2yr)
0.09
Equity Exposure
2.39%
Bond Exposure
95.37%
# Holdings
93
Cash Weighted Duration
3.47
Comp NAV TR
0.52%
Comp Discount
0.21%
Net Assets (M)
469
Liquidity - 90d (K)
1,315
* 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


93 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
ACP Abd Incm Cr Stgs Fd Aberdeen 1.08 -3.88 10.37 0.00 29.93 189 944
AFT Apollo Sr Flt Rt Fd Apollo Credit 1.07 -11.61 7.54 0.00 33.90 275 1,029
AIF Apollo Tactical Incm Fd Apollo Credit 1.08 -11.79 8.41 0.00 33.50 250 917
ARDC Ares Dyn Cr Alloc Fd Ares 1.10 -12.46 8.34 0.00 31.27 406 1,551
AWF AB Glbl Hi Incm Fd AllianceBernstein 1.08 -12.79 7.36 1.18 39.98 1,126 2,351
BGB B/GSO Stgc Cr Fd Blackstone 1.08 -8.04 8.10 0.00 36.85 756 1,860
BGH Barings Glbl Srt Dur Hi Yld Fd Barings 1.06 -9.68 9.58 2.93 28.06 412 1,690
BGIO 2022 Glbl Incm Opp Tr BlackRock 1.07 -7.04 6.89 0.00 15.53 207 672
BGT BR Flt Rt Incm Fd BlackRock 1.08 -10.08 5.74 0.00 28.70 340 931
BGX B/GSO Lng-Srt Cr Incm Fd Blackstone 1.10 -7.12 7.70 0.00 38.51 219 936
BHK BR Core Bnd Tr BlackRock 1.08 -7.84 6.21 0.00 28.69 736 1,293
BIT BR Mlt-Sctr Incm Tr BlackRock 1.08 -12.15 8.42 5.71 36.36 716 1,817
BKT BR Incm Tr BlackRock 1.08 -8.62 7.35 0.12 30.73 392 542
BLW BR Ltd Dur Incm Tr BlackRock 1.07 -12.55 6.58 0.00 27.64 607 1,328
BSL B/GSO Sr Flt Rt Trm Fd Blackstone 1.06 -3.02 6.72 0.00 32.67 273 681
BTZ BR Cr Alloc Incm Tr BlackRock 1.07 -13.96 6.76 0.53 32.59 1,454 2,628
CBH AG Convt & Incm 2024 Tgt Trm Allianz 1.08 -8.01 6.16 0.00 27.73 178 335
CIK CS Ast Mgmt Incm Fd Credit Suisse 1.09 -9.06 8.68 0.91 29.65 179 428
DCF DA Glbl Cr Incm 2024 Tgt Trm Dreyfus 1.08 -7.75 7.36 0.00 29.36 143 313
DHF Dreyfus Hi Yld Stgs Fd Dreyfus 1.03 -9.85 9.34 0.00 24.27 244 481
DHY CS Hi Yld Bnd Fd Credit Suisse 1.05 -4.21 9.60 4.37 35.42 270 640
DMO WA Mortg Dfin Opp Fd Legg Mason 1.06 4.55 10.34 0.00 31.50 221 1,287
DSL DbLin Incm Solutions Fd Doubleline 1.04 -5.10 9.39 0.87 30.16 2,047 6,740
DSU BR Dbt Stgs Fd BlackRock 1.08 -12.35 7.52 0.96 32.00 659 1,398
EAD WF Incm Opp Fd Wells Fargo 1.08 -12.87 9.48 4.47 27.08 611 1,168
EFF EV Flt-Rt Inc+ Fd Eaton Vance 1.08 -13.52 5.89 0.93 36.40 136 400
EFL EV Flt-Rt 2022 Tgt Trm Tr Eaton Vance 1.09 -5.86 5.64 0.00 36.60 230 480
EFR EV Sr Flt-Rt Tr Eaton Vance 1.08 -10.72 6.07 0.00 35.71 571 1,729
EFT EV Flt-Rt Incm Tr Eaton Vance 1.07 -9.95 5.66 0.00 35.40 629 1,416
EHT EV Hi Incm 2021 Tgt Trm Tr Eaton Vance 1.10 -2.92 5.92 0.00 23.00 213 398
ERC WF Mlt-Sctr Incm Fd Wells Fargo 1.09 -9.51 10.57 0.00 29.81 434 1,465
EVF EV Sr Incm Tr Eaton Vance 1.08 -13.54 5.89 0.00 36.20 277 686
EVG EV Srt Dur Divr Incm Fd Eaton Vance 1.09 -13.49 6.08 5.55 40.30 265 593
EVV EV Ltd Dur Incm Fd Eaton Vance 1.08 -15.13 6.52 8.87 36.10 1,689 3,236
FCT FT Sr Flt Rt Incm Fd II First Trust 1.06 -12.75 5.88 4.83 27.21 375 834
FIV FT Sr Flt Rt 2022 Tgt Trm Fd First Trust 1.07 -6.63 5.55 0.00 28.97 346 619
FRA BR Flt Rt Incm Stgc Fd BlackRock 1.08 -9.46 5.73 0.00 28.87 555 1,620
GDO WA Glbl Corp Dfin Opp Fd Legg Mason 1.06 -11.28 7.78 0.00 23.34 262 555
GGM Gghm Cr Alloc Fd Guggenheim 1.06 2.31 10.24 0.00 31.20 153 466
GHY Pru Glbl Srt Dur Hi Yld Fd Prudential 1.07 -15.60 7.32 4.53 28.86 656 1,854
HIO WA Hi Incm Opp Fd Legg Mason 1.07 -14.13 6.88 1.04 0.00 695 1,186
HIX WA Hi Incm Fd II Legg Mason 1.09 -13.13 8.78 4.36 25.62 617 1,327
HNW Pioneer Divr Hi Incm Tr Pioneer 1.06 -15.19 8.07 0.00 31.40 139 446
HYB New Amrc Hi Incm Fd T. Rowe Price 1.06 -14.58 7.99 0.00 29.00 226 490
HYI WA Hi Yld Dfin Opp Fd Legg Mason 1.10 -10.45 7.38 1.05 0.00 366 900
HYT BR Corp Hi Yld Fd BlackRock 1.07 -12.19 8.45 0.00 30.87 1,451 3,207
IGI WA Inv Grd Dfin Opp Tr Legg Mason 0.99 -4.59 5.45 0.81 0.00 212 405
IHIT Invsc Hi Incm 2023 Tgt Trm Fd Invesco 1.11 -0.79 6.01 0.00 24.73 242 415
ISD Pru Srt Dur Hi Yld Fd Prudential 1.07 -15.02 7.42 0.00 25.92 538 1,335
IVH Ivy Hi Incm Opp Fd Ivy Investment 1.06 -12.18 8.71 0.00 31.57 260 839
JCO Nuveen Cr Opp 2022 Tgt Trm Fd Nuveen 1.08 -4.71 6.06 0.00 28.70 270 443
JFR Nuv Flt Rt Incm Fd Nuveen 1.08 -11.43 7.09 0.00 36.58 652 1,832
JGH Nuv Glbl Hi Incm Fd Nuveen 1.07 -13.62 8.50 1.21 29.69 406 995
JHA Nuv Hi Incm Dec 2018 Tgt Trm Fd Nuveen 1.10 -0.70 3.29 0.00 0.00 291 511
JHB Nuv Hi Incm Nov 2021 Tgt Trm Fd Nuveen 1.09 -4.65 5.92 0.00 25.39 553 835
JHD Nuv Hi Incm Dec 2019 Tgt Trm Fd Nuveen 1.11 -1.30 4.26 0.00 0.00 271 525
JHI JH Invstr Tr John Hancock 1.08 -8.64 6.83 0.00 36.29 150 297
JHS JH Incm Sec Tr John Hancock 1.07 -8.84 5.26 0.00 35.15 166 252
JHY Nuv Hi Incm 2020 Tgt Trm Fd Nuveen 1.11 0.21 4.81 0.00 28.53 153 326
JRO Nuv Flt Rt Incm Opp Fd Nuveen 1.09 -10.37 7.12 0.00 36.08 462 1,870
JSD Nuv Srt Dur Cr Opp Fd Nuveen 1.10 -5.22 7.36 0.00 37.09 180 807
KMM Deutsche Multi-Mkt Incm Tr Deutsche 1.10 -0.77 4.35 0.00 10.80 202 367
MCI Barings Corp Invstr Barings 1.07 -0.93 8.04 0.00 9.05 302 298
NCV AG Convt & Incm Fd Allianz 1.06 10.91 11.80 19.60 37.98 532 1,704
NHS NB Hi Yld Stgs Fd Neuberger Berman 1.06 -16.15 7.46 3.52 33.28 247 626
NSL Nuv Sr Incm Fd Nuveen 1.10 -11.21 6.98 0.00 37.00 265 755
OXLC Oxford Lane Cap Corp Oxford Lane 1.13 8.92 14.90 0.00 39.13 287 3,072
PAI WA Inv Grd Incm Fd Legg Mason 1.08 -7.35 5.22 0.00 0.00 135 262
PCF Hi Incm Sec Fd Putnam 1.09 -3.09 3.61 2.08 0.00 126 566
PCI PIMCO Dyn Cr & Mortg Incm PIMCO 1.06 -2.71 8.56 0.00 45.90 3,247 13,187
PCM PCM Fund PIMCO 1.06 6.42 8.91 0.00 37.31 117 332
PCN PIMCO Corp & Incm Stgy Fd PIMCO 1.07 20.05 7.67 4.97 20.46 578 1,608
PDI PIMCO Dyn Incm Fd PIMCO 1.05 9.70 8.35 0.00 38.24 1,622 8,230
PFL PIMCO Incm Stgy Fd PIMCO 1.06 3.95 9.55 10.21 23.00 279 771
PFN PIMCO Incm Stgy Fd II PIMCO 1.07 3.14 9.42 0.00 22.12 593 2,087
PHD Pioneer Flt Rt Tr Pioneer 1.06 -13.25 6.75 0.00 32.00 304 960
PHT Pioneer Hi Incm Tr Pioneer 1.05 -12.81 8.81 0.00 29.30 297 821
PIM Putnam Mstr Imd Incm Tr Putnam 1.10 -8.94 5.89 0.00 13.68 263 409
PKO PIMCO Incm Opp Fd PIMCO 1.04 4.62 8.76 0.00 34.12 384 1,455
PPR Voya Prime Rt Tr Voya 1.08 -13.40 5.99 7.72 29.42 838 2,374
PPT Putnam Prmr Incm Tr Putnam 1.05 -8.93 6.24 0.00 12.52 586 1,246
PTY PIMCO Corp & Incm Opp Fd PIMCO 1.07 17.81 9.07 5.77 41.51 1,226 4,543
RCS PIMCO Stgc Incm Fd PIMCO 1.06 32.34 9.30 9.51 39.64 303 1,368
TLI WA Corp Ln Fd Legg Mason 1.08 -13.45 6.54 1.31 32.60 112 264
TSI TCW Stgc Incm Fd TCW 1.09 -6.36 5.68 0.00 0.00 278 351
TSLF THL Cr Sr Ln Fd THL Credit 1.11 -8.92 6.88 0.00 29.80 136 434
VBF Invsc Bnd Fd Invesco 1.07 -9.18 4.84 0.89 0.00 214 478
VLT Invsc Hi Incm Tr II Invesco 1.08 -12.97 8.62 8.16 27.12 125 332
VVR Invsc Sr Incm Tr Invesco 1.09 -13.62 5.51 5.25 29.00 886 2,390
WEA WA Prmr Bnd Fd Legg Mason 1.07 -8.30 6.30 0.62 25.70 161 353
WIA WA Inf-Lnk Incm Fd Western Asset 1.07 -12.11 3.78 0.31 28.26 364 519
WIW WA Inf-Lnk Opp & Incm Fd Western Asset 1.06 -13.09 4.12 0.00 28.81 738 967
XFLT XAI Octgn Flt Rt & Alt Incm Trm XA Investments 1.09 1.05 8.63 0.00 32.90 79 211

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 %