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05. Tax-Advantaged Equity Dividend Index

Data as of

About the Index

(1) US Equity, Non-US Equity and Specialty Equity groupings according to CEFdata.com with monthly or quarterly distributions. (2) Removing Preferred Equity, MLP Funds and Single Country Funds. (3) Funds with Market Yield of 6% or more. (4) Leverage Adjusted NAV Yield under 10%. (5) 1 Year Trailing Return of Capital dividend classification over 20%. (6) 1 Year Trailing Income + Short Term Capital Gains under 65%. (7) 90-day average trade dollar $ liquidity over $250K. (8) Removing funds with US / Non US Equity over 10% each. 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(%) 10 Year(%) MTD(%) QTD(%) YTD(%)
Price 1,806.25 -0.35 -1.36 1.04 4.37 10.02 13.32 3.61 7.62 7.45 0.07 3.21 3.21
NAV 1,691.54 -0.20 -0.76 1.90 4.20 9.59 16.73 3.62 7.43 6.53 0.28 2.42 2.42
Difference 0.14 0.60 0.86 -0.17 -0.43 3.41 0.01 -0.20 -0.92 0.21 -0.79 -0.79
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
2024 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 0.49 2.64 - - - - - - - - - - - - - - - - -
NAV -0.45 2.60 - - - - - - - - - - - - - - - - -
Difference -0.94 -0.04 - - - - - - - - - - - - - - - - -
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 7.33 -3.02 -0.66 3.40 -0.88 -2.34 5.26 1.89 5.36 3.38 -3.36 -4.36 -4.45 -4.54 8.79 4.18 8.20 3.39 8.92
NAV 6.08 -3.57 0.54 2.85 0.81 -2.18 5.03 3.58 6.53 3.16 -2.76 -3.44 -3.13 -2.96 7.07 4.98 9.08 5.66 12.56
Difference -1.25 -0.55 1.20 -0.55 1.69 0.16 -0.23 1.69 1.17 -0.22 0.60 0.93 1.32 1.58 -1.72 0.80 0.88 2.28 3.64
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -3.56 -2.36 2.93 -3.08 -7.01 0.40 -6.40 -12.61 -15.30 7.77 -2.03 -12.01 -7.09 6.51 6.13 -4.12 8.38 0.69 -14.72
NAV -3.77 -1.88 2.28 -3.42 -6.55 -0.13 -6.68 -12.91 -15.89 6.90 -3.37 -9.50 -6.52 7.11 6.53 -3.38 10.25 3.06 -13.31
Difference -0.20 0.48 -0.66 -0.34 0.46 -0.53 -0.28 -0.30 -0.59 -0.88 -1.34 2.51 0.57 0.60 0.41 0.74 1.88 2.37 1.40
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 1.26 5.29 5.35 12.32 4.95 3.00 1.38 9.59 23.09 0.22 1.91 -4.13 -2.08 4.87 -1.07 3.18 7.05 4.82 29.02
NAV 0.25 4.00 4.19 8.62 3.67 1.89 0.39 6.03 15.18 0.71 1.82 -3.95 -1.51 4.71 -2.28 4.29 6.72 5.10 21.05
Difference -1.01 -1.29 -1.16 -3.69 -1.28 -1.11 -1.00 -3.56 -7.91 0.49 -0.09 0.18 0.57 -0.16 -1.20 1.11 -0.33 0.29 -7.97
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price -0.36 -11.43 -17.84 -27.49 11.82 4.61 0.59 17.67 -14.68 3.39 4.25 -5.19 2.19 -2.41 16.87 4.44 19.12 21.74 3.87
NAV -1.62 -8.43 -16.11 -24.42 11.06 4.98 1.63 18.48 -10.45 4.28 3.59 -3.04 4.74 -1.27 12.08 3.93 15.00 20.45 7.86
Difference -1.26 3.00 1.73 3.07 -0.76 0.36 1.04 0.82 4.23 0.89 -0.67 2.15 2.54 1.14 -4.79 -0.51 -4.12 -1.29 3.99
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 11.38 2.27 1.29 15.38 1.80 -4.92 6.69 3.27 19.15 0.63 -2.54 2.39 0.42 2.15 1.94 3.09 7.34 7.79 28.43
NAV 7.72 2.16 1.45 11.65 1.50 -4.95 5.62 1.90 13.77 0.24 -1.91 1.43 -0.26 2.08 1.81 3.10 7.15 6.87 21.58
Difference -3.66 -0.11 0.16 -3.73 -0.29 -0.03 -1.07 -1.36 -5.38 -0.38 0.63 -0.96 -0.68 -0.07 -0.12 0.01 -0.19 -0.92 -6.84
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 3.04 -4.37 -1.48 -2.92 3.25 1.64 -0.18 4.74 1.69 2.37 1.16 -0.20 3.36 -9.82 2.92 -9.17 -15.70 -12.87 -11.40
NAV 3.26 -5.10 -1.38 -3.35 1.91 0.86 -0.03 2.76 -0.68 3.16 1.03 -0.03 4.20 -6.77 1.55 -7.19 -12.14 -8.44 -9.06
Difference 0.22 -0.73 0.10 -0.43 -1.33 -0.78 0.15 -1.98 -2.37 0.79 -0.13 0.17 0.85 3.05 -1.37 1.98 3.57 4.43 2.34
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.64 2.25 1.36 8.45 3.07 1.20 1.02 5.37 14.28 2.92 -0.96 2.99 4.97 0.51 -0.07 2.55 3.00 8.12 23.55
NAV 2.74 2.13 0.86 5.83 1.19 1.14 0.48 2.83 8.82 2.35 0.15 1.41 3.95 0.83 1.72 1.06 3.65 7.74 17.25
Difference -1.90 -0.12 -0.50 -2.63 -1.88 -0.06 -0.55 -2.54 -5.45 -0.57 1.11 -1.57 -1.02 0.32 1.79 -1.49 0.65 -0.38 -6.31
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -6.71 0.01 7.89 0.66 2.02 1.41 1.46 4.97 5.66 3.89 0.55 0.86 5.37 -3.07 0.86 1.43 -0.84 4.48 10.39
NAV -5.04 -0.42 6.65 0.85 1.72 0.63 0.90 3.28 4.15 2.93 -0.05 0.72 3.62 -1.80 0.93 1.64 0.74 4.38 8.72
Difference 1.67 -0.44 -1.24 0.18 -0.30 -0.78 -0.56 -1.69 -1.51 -0.97 -0.60 -0.14 -1.75 1.28 0.07 0.21 1.58 -0.09 -1.68
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price -0.01 4.32 -1.23 3.03 1.64 0.51 -2.85 -0.75 2.25 0.13 -5.75 -4.57 -9.94 8.41 -0.32 -0.47 7.56 -3.13 -0.95
NAV -1.11 4.35 -1.71 1.43 2.09 0.78 -2.54 0.28 1.71 0.89 -5.60 -2.78 -7.41 7.06 -0.79 -1.40 4.73 -3.03 -1.37
Difference -1.09 0.02 -0.48 -1.60 0.45 0.27 0.31 1.03 -0.54 0.76 0.15 1.79 2.53 -1.35 -0.47 -0.93 -2.83 0.10 -0.42
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price -2.17 4.72 0.32 2.77 2.03 3.11 1.51 6.79 9.75 -1.58 3.15 -4.00 -2.54 1.44 1.75 -3.75 -0.66 -3.18 6.26
NAV -2.52 4.14 -0.03 1.49 0.98 1.89 1.94 4.88 6.45 -1.80 2.67 -3.14 -2.35 0.68 1.05 -1.00 0.73 -1.63 4.71
Difference -0.35 -0.58 -0.34 -1.28 -1.04 -1.22 0.43 -1.90 -3.29 -0.22 -0.49 0.86 0.19 -0.75 -0.70 2.75 1.39 1.55 -1.54
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 6.58 0.39 2.95 10.17 1.70 -0.33 -2.83 -1.51 8.50 3.33 -3.13 2.29 2.40 4.42 0.60 2.79 7.97 10.56 19.97
NAV 3.84 -0.04 2.09 5.96 2.41 -0.84 -2.38 -0.87 5.03 4.01 -2.31 3.65 5.32 3.73 1.04 2.04 6.94 12.63 18.30
Difference -2.75 -0.44 -0.87 -4.21 0.71 -0.52 0.45 0.64 -3.47 0.68 0.82 1.36 2.92 -0.69 0.44 -0.75 -1.03 2.06 -1.67
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 8.71 4.20 0.62 13.98 -0.26 -6.01 4.12 -2.39 11.26 3.01 2.65 2.85 8.75 -1.41 -0.80 0.28 -1.92 6.66 18.67
NAV 4.19 3.25 0.76 8.41 0.22 -6.41 3.93 -2.52 5.68 2.21 1.95 2.09 6.39 -0.32 0.25 1.46 1.39 7.86 13.98
Difference -4.51 -0.95 0.14 -5.58 0.48 -0.40 -0.19 -0.13 -5.58 -0.80 -0.70 -0.76 -2.37 1.09 1.05 1.18 3.31 1.20 -4.69

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-10.99%
1Yr Disc
-9.85%
3Yr Disc
-5.80%
5Yr Disc
-6.16%
Rel Disc Range (3yr)
17.21%
Mkt Yield
8.26%
Lev Adj NAV Yield
6.96%
After Tax Yield*
7.43%
Est Tax Friction*
0.83%
3Yr NAV Volatiliy
16.91
1 Yr RoC
52.44%
3 Yr Dest RoC
24.09%
Leverage
6.31%
Non Lev Exp Ratio
1.21%
Beta (2yr)
0.79
Equity Exposure
95.32%
Bond Exposure
3.16%
# Holdings
42
Cash Weighted Duration
0.06
Comp NAV TR
-0.82%
Comp Discount
-1.75%
Net Assets (M)
829
Liquidity - 90d (K)
2,049
* 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


42 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
AEF abrdn Emrg Mkt Eq Incm Fd abrdn 2.35 -15.26 7.05 78.10 10.23 306 508
AWP abrdn Glbl Prmr Prop Fd abrdn 2.31 -6.70 12.77 76.75 19.63 344 1,330
BCX BR Res & Com Stgy Tr BlackRock 2.33 -13.74 7.02 59.46 0.00 866 3,362
BGR BR Nrg & Res Tr BlackRock 2.40 -13.49 6.14 46.75 0.00 407 961
BGY BR Enh Intl DivTr BlackRock 2.40 -13.56 7.48 56.78 0.00 629 1,218
BIGZ BR Innovation & Gwth Trm Tr BlackRock 2.48 -14.03 6.86 100.00 0.00 2,031 7,259
BME BR Health Sci Tr BlackRock 2.37 -5.86 6.21 51.81 0.00 610 1,500
BMEZ BR Health Sci Trm Tr BlackRock 2.57 -12.34 6.70 100.00 0.00 1,960 7,266
BOE BR Enh Glbl DivTr BlackRock 2.41 -14.94 7.38 67.91 0.00 741 1,759
BTO JH Fin Opp Fd John Hancock 2.10 -1.47 9.49 0.00 17.91 547 1,574
BUI BR Util Infra & Pwr OppTr BlackRock 2.25 -3.70 6.89 45.21 0.00 492 1,315
DIAX Nuv Dow 30SM Dyn Owrt Fd Nuveen 2.33 -12.44 8.10 71.17 0.00 588 1,501
BXSY Bexil Investment Tr Bexil 2.39 -37.04 7.92 0.00 10.00 257 268
DPG D&P Util & Infra Fd Virtus 2.30 -12.79 9.19 84.25 29.66 400 1,455
EOI EV Enh Eq Incm Fd Eaton Vance 2.52 -4.13 7.35 3.31 0.00 752 1,488
ETB EV Tx-Mgd By-Wrt Incm Fd Eaton Vance 2.43 -8.81 8.31 52.71 0.00 434 1,005
ETG EV Tx-Adv Glbl Div Incm Fd Eaton Vance 2.46 -11.94 6.68 0.83 19.80 1,562 2,456
ETJ EV Risk-Mgd Divr Eq Incm Fd Eaton Vance 2.49 -8.24 8.32 22.73 0.00 612 1,429
ETO EV Tx-Adv Glbl Div Opp Fd Eaton Vance 2.44 -9.69 6.67 0.00 19.20 448 661
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 2.45 -6.93 8.83 57.23 0.00 1,618 3,361
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 2.43 -13.35 8.68 46.74 0.00 1,018 2,473
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 2.50 -6.05 7.41 0.00 0.00 2,185 3,274
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 2.44 -11.84 8.25 76.67 0.00 2,793 4,394
FFA FT Enh Eq Incm Fd First Trust 2.36 -4.83 6.73 0.00 0.00 393 484
FUND Sprott Focus Tr Sprott 2.20 -11.47 6.56 21.27 0.00 258 269
GAB Gabelli Eq Tr Gabelli 2.46 1.50 11.09 54.63 18.00 1,610 3,764
GDV Gabelli Div & Incm Tr Gabelli 2.39 -16.80 5.95 24.42 13.00 2,400 4,336
GRX Gabelli Health & Well Tr Gabelli 2.43 -18.79 6.12 2.75 23.00 193 433
HEQ JH Hgd Eq & Incm Fd John Hancock 2.30 -13.98 9.97 49.46 0.00 142 447
HQH abrdn Health Invstr abrdn 2.36 -14.58 11.58 67.98 0.00 960 3,254
HQL abrdn Life Sci Invstr abrdn 2.36 -14.46 11.56 65.56 0.00 422 1,714
IDE Voya Infra Ind & Matrls Fd Voya 2.36 -14.68 9.01 19.87 0.00 181 349
IGA Voya Glbl Adv & Prm Opp Fd Voya 2.42 -14.16 9.03 39.85 0.00 156 382
IGD Voya Glbl Eq Div & Prm Opp Voya 2.47 -12.77 9.25 66.08 0.00 469 1,133
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 2.28 -6.93 13.74 23.43 25.02 788 4,125
IHD Voya Emrg Mkt Hi Div Eq Fd Voya 2.36 -13.75 10.25 75.25 0.00 110 153
JCE Nuv Core Eq Alpha Fd Nuveen 2.33 -1.94 9.36 93.55 0.00 225 665
LGI Lzrd Glbl Tot Rtn & Incm Fd Lazard 2.45 -12.18 7.81 69.27 30.20 238 644
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 2.31 -9.84 7.24 37.57 0.00 1,256 3,022
RMT Royce Micro-Cap Tr Franklin Templeton 2.25 -12.24 6.67 42.93 0.38 512 1,045
SPXX Nuv S&P 500 Dyn Owrt Fd Nuveen 2.33 -9.91 7.75 44.31 0.00 303 811
UTF C&S Infra Fd Cohen&Steers 2.45 -0.49 8.36 23.32 30.10 2,154 6,157

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, 2019. 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.

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Class E Units       8% PIK             8.00 %   11/6/2021     4,055,099       4,055,099       4,055,099       2.32 %