CEF Advisors AICA Event NAVigator Podcast

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

11. Alternative Income Index

Data as of

About the Index

All funds in index must be monthly or quarterly paying funds that have a 6%+ with 65%+ of the yield paid February to October (seeking to avoid large year-end dividends to cause inclusion in the index, and not counting special dividends in this calculation for yield). (1) 15% allocation to all the funds in the Hybrid / Balanced Index, equal weight (2) 15% allocation to all the funds in the Multisector Bond Index, equal weight. (3) 14% allocation to funds in the Equity Income Index (non MLP/Non REIT) 1/3 of funds from the index (after MLP/REIT removal) ranked by lowest daily NAV correlation over the past 6 months to the Equity Income Index NAV, equal weight. (4) 14% allocation to funds in the Taxable Bond and BDC Index (non BDC or Multisector funds) 1/4 of the funds from the index (after BDC / Multisector fund removal) ranked by lowest daily NAV correlation in the past 6 months to the Taxable Bond and BDC Index's NAV, equal weight. (5) 10% allocation to the 10 most liquid as measured by 90 day average trade volume for the BDCs in our BDC index while allowing only 1 BDC per Fund Sponsor, equal weight. (6) 10% allocation to the 10 most liquid as measured by 90 day average trade volume for the MLP funds in our MLP index while only allowing 1 MLP fund per Fund Sponsor, equal weight. (7) 8% allocation to 1/2 of the REIT / Real Asset Funds in our index with the lowest 6 month NAV correlation to the Index's NAV while allowing only 1 fund per Fund Sponsor (lowest correlation), equal weight. (8) 8% allocation to any non-BDC CEFs that report a quarterly NAV, equal weight. (9) 6% allocation to the 5 Preferred Equity funds in our Preferred Equity Index with the lowest 6 month NAV correlation to the Preferred Equity Index's NAV while allowing only 1 fund per Fund Sponsor (lowest correlation), equal weight. The index constituents will be rebalanced each quarter. We manually have removed DXYZ from firm benchmarks.

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 1,738.66 0.11 -0.16 5.07 -3.28 -1.24 10.00 8.37 12.74 6.07 0.90 -1.43 1.57
NAV 1,709.88 0.12 -0.15 4.03 -1.11 0.03 8.85 7.53 9.89 5.75 0.62 -0.07 1.64
Difference 0.01 0.01 -1.04 2.16 1.27 -1.15 -0.84 -2.85 -0.32 -0.28 1.36 0.07
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.08
2025 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2025
Price 4.31 0.43 -1.63 3.05 -2.31 - - - - - - - - - - - - - -
NAV 2.02 0.67 -0.96 1.72 -0.69 - - - - - - - - - - - - - -
Difference -2.29 0.25 0.67 -1.33 1.63 - - - - - - - - - - - - - -
2024 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 2.50 1.78 3.21 7.67 -1.95 3.64 2.07 3.72 11.68 2.67 2.06 2.80 7.72 -1.62 3.48 -3.92 -2.18 5.37 17.68
NAV 0.47 1.59 2.45 4.57 -1.62 2.76 1.01 2.13 6.79 2.02 1.94 2.01 6.09 -0.81 2.68 -2.45 -0.65 5.40 12.57
Difference -2.03 -0.20 -0.76 -3.10 0.33 -0.88 -1.05 -1.59 -4.89 -0.65 -0.12 -0.79 -1.63 0.81 -0.81 1.47 1.53 0.03 -5.12
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 8.75 -2.56 -3.38 2.38 0.99 -2.25 4.54 3.20 5.66 4.04 -1.79 -3.62 -1.52 -4.16 8.52 4.08 8.25 6.61 12.64
NAV 5.58 -2.75 -0.97 1.68 1.16 -2.06 3.07 2.12 3.83 2.87 -1.45 -2.32 -0.96 -1.88 6.26 3.93 8.37 7.32 11.44
Difference -3.17 -0.19 2.41 -0.71 0.17 0.19 -1.46 -1.08 -1.82 -1.17 0.34 1.31 0.55 2.29 -2.26 -0.15 0.12 0.72 -1.20
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -0.51 -3.03 1.97 -1.63 -5.81 -0.29 -6.69 -12.37 -13.79 7.41 -2.04 -12.07 -7.48 5.55 5.35 -4.44 6.27 -1.69 -15.25
NAV -1.59 -0.57 1.17 -1.00 -4.07 0.05 -6.08 -9.85 -10.76 5.03 -2.06 -6.92 -4.26 2.66 4.22 -1.53 5.35 0.86 -9.99
Difference -1.08 2.46 -0.80 0.63 1.73 0.34 0.62 2.51 3.04 -2.38 -0.02 5.15 3.22 -2.90 -1.13 2.90 -0.92 2.54 5.25
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 2.60 4.69 3.50 11.17 4.53 2.38 2.07 9.23 21.43 -0.08 1.33 -2.59 -1.38 4.64 -2.56 1.41 3.40 1.98 23.84
NAV 1.30 2.19 2.26 5.86 2.98 1.80 1.21 6.10 12.32 0.65 1.50 -1.38 0.75 2.26 -1.64 2.28 2.87 3.64 16.41
Difference -1.30 -2.49 -1.24 -5.31 -1.55 -0.58 -0.86 -3.13 -9.11 0.74 0.16 1.22 2.13 -2.39 0.92 0.86 -0.53 1.66 -7.43
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price 1.44 -10.30 -29.32 -35.68 15.28 5.11 0.19 21.41 -21.91 2.71 4.11 -3.64 3.03 -1.22 13.70 4.03 16.84 20.38 -5.99
NAV 0.16 -4.81 -19.88 -23.61 10.34 2.71 0.29 13.65 -13.19 3.29 2.42 -1.40 4.32 -0.14 7.57 4.06 11.77 16.59 1.22
Difference -1.29 5.48 9.44 12.07 -4.95 -2.40 0.09 -7.76 8.72 0.59 -1.69 2.24 1.28 1.08 -6.13 0.02 -5.07 -3.79 7.21
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 11.63 1.90 1.41 15.34 2.21 -2.42 3.87 3.60 19.50 1.61 -2.20 2.13 1.50 0.44 0.19 2.40 3.04 4.58 24.97
NAV 6.70 1.40 1.92 10.27 1.10 -1.37 2.82 2.53 13.06 0.56 -0.87 1.23 0.91 0.26 0.20 2.81 3.28 4.22 17.83
Difference -4.93 -0.49 0.51 -5.07 -1.11 1.05 -1.05 -1.07 -6.44 -1.06 1.33 -0.90 -0.58 -0.18 0.01 0.41 0.24 -0.36 -7.14
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 1.05 -2.84 -0.61 -2.42 2.52 1.49 0.05 4.10 1.58 2.60 0.89 -1.21 2.25 -7.13 0.69 -6.11 -12.21 -10.23 -8.81
NAV 2.01 -3.24 -0.92 -2.21 1.49 1.17 -0.24 2.42 0.16 2.19 0.90 -0.15 2.95 -3.57 0.01 -3.76 -7.18 -4.44 -4.29
Difference 0.96 -0.40 -0.32 0.21 -1.03 -0.32 -0.29 -1.67 -1.42 -0.41 0.01 1.07 0.70 3.56 -0.68 2.36 5.03 5.79 4.53
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.56 3.30 0.79 8.85 2.73 -0.23 0.44 2.95 12.06 1.97 -0.94 1.43 2.45 -0.87 -1.20 2.13 0.03 2.49 14.85
NAV 2.31 1.85 0.63 4.86 1.08 0.49 0.71 2.30 7.27 1.65 -0.02 0.61 2.24 0.15 0.35 1.71 2.22 4.51 12.11
Difference -2.25 -1.45 -0.15 -4.00 -1.65 0.72 0.28 -0.65 -4.79 -0.32 0.92 -0.82 -0.21 1.02 1.54 -0.42 2.18 2.02 -2.74
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -5.47 0.24 7.84 2.19 4.64 0.74 3.43 9.03 11.42 4.34 2.37 -0.17 6.63 -2.74 0.72 1.93 -0.15 6.47 18.63
NAV -3.91 -0.74 4.48 -0.34 3.57 1.33 3.17 8.27 7.90 2.75 0.80 2.01 5.65 -1.34 -0.14 2.28 0.76 6.46 14.86
Difference 1.56 -0.97 -3.36 -2.53 -1.08 0.59 -0.26 -0.77 -3.52 -1.59 -1.57 2.18 -0.98 1.40 -0.87 0.35 0.91 -0.01 -3.76
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 0.55 3.10 -1.29 2.33 2.07 -0.84 -4.86 -3.70 -1.45 -1.93 -3.19 -5.42 -10.20 7.13 -2.06 -3.19 1.57 -8.79 -10.11
NAV 0.06 2.09 -0.37 1.77 1.82 -0.27 -2.32 -0.81 0.95 -0.29 -3.12 -4.35 -7.60 4.18 -1.71 -3.84 -1.54 -9.02 -8.16
Difference -0.49 -1.01 0.92 -0.56 -0.25 0.57 2.53 2.89 2.40 1.64 0.07 1.07 2.60 -2.95 0.35 -0.65 -3.11 -0.23 1.96
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price 1.10 3.33 0.14 4.62 2.37 2.70 2.78 8.06 13.05 -2.51 2.99 -3.85 -3.45 1.13 0.81 -3.03 -1.14 -4.55 7.90
NAV 0.67 2.68 1.40 4.81 1.55 2.08 2.72 6.47 11.59 -1.09 2.32 -2.29 -1.11 0.19 0.21 -2.15 -1.75 -2.84 8.43
Difference -0.43 -0.66 1.25 0.19 -0.82 -0.62 -0.07 -1.58 -1.46 1.42 -0.67 1.56 2.34 -0.94 -0.60 0.89 -0.60 1.72 0.53
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 5.48 1.31 1.95 8.95 1.81 -2.32 -2.02 -2.56 6.16 0.01 -2.84 1.68 -1.20 2.98 0.23 1.53 4.79 3.53 9.92
NAV 3.58 0.52 2.00 6.20 1.83 -0.73 -2.50 -1.44 4.67 1.73 -1.82 2.46 2.34 2.50 0.42 1.50 4.47 6.91 11.90
Difference -1.90 -0.80 0.05 -2.75 0.01 1.59 -0.48 1.12 -1.49 1.73 1.02 0.78 3.54 -0.48 0.19 -0.03 -0.32 3.38 1.99
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 8.05 3.70 -0.68 11.28 0.28 -3.41 4.01 0.75 12.12 3.03 2.85 2.39 8.50 -0.05 -0.93 0.24 -0.75 7.69 20.74
NAV 3.62 2.64 0.65 7.04 0.44 -3.63 3.89 0.56 7.64 2.46 1.53 1.30 5.38 0.53 0.01 2.79 3.34 8.89 17.22
Difference -4.43 -1.06 1.33 -4.24 0.16 -0.22 -0.12 -0.19 -4.48 -0.57 -1.32 -1.09 -3.12 0.58 0.94 2.55 4.08 1.20 -3.53

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-3.37%
1Yr Disc
-2.62%
3Yr Disc
-4.91%
5Yr Disc
-3.53%
Rel Disc Range (3yr)
58.47%
Mkt Yield
11.24%
Lev Adj NAV Yield
8.77%
After Tax Yield*
9.46%
Est Tax Friction*
1.78%
3Yr NAV Volatiliy
11.92
1 Yr RoC
43.04%
3 Yr Dest RoC
21.80%
Leverage
27.21%
Non Lev Exp Ratio
1.90%
Beta (2yr)
0.52
Equity Exposure
41.99%
Bond Exposure
54.71%
# Holdings
81
Cash Weighted Duration
1.29
Comp NAV TR
0.30%
Comp Discount
1.12%
Net Assets (M)
1,176
Liquidity - 90d (K)
6,574
* 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


81 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
NMAI Nuv Multi-Asset Incm Fd Nuveen 1.09 -8.53 13.79 77.87 29.75 443 1,366
CPZ Calamos Lng-Srt Eq & Dyn Incm Calamos 2.11 -8.74 10.72 0.00 26.62 337 1,134
AIO Virtus AI & Tech Opp Fd Virtus 1.10 1.64 8.31 0.00 15.51 733 2,163
CSQ Calamos Stgc Tot Rtn Fd Calamos 1.07 -2.02 7.46 20.74 33.19 2,697 4,278
ZTR Virtus Tot Rtn Fd Virtus 2.13 -11.52 9.88 89.17 30.89 381 1,419
FOF C&S CE Opp Fd Cohen&Steers 1.03 0.08 8.82 55.64 0.00 326 703
BCAT BR Cap Alloc Trm Tr BlackRock 1.09 -3.58 22.76 88.52 0.00 1,611 7,648
NIE Virtus Eq & Convt Incm Fd Virtus 1.05 -8.95 8.98 0.00 0.00 678 1,584
CGO Calamos Glbl Tot Rtn Fd Calamos 1.10 -3.66 8.91 0.00 36.68 110 319
GUG Gghm Active Alloc Fd Guggenheim Funds 1.07 -5.89 9.28 33.24 26.90 538 1,159
PDX PIMCO Dyn Incm Stgy Fd PIMCO 0.93 -10.01 7.36 2.29 25.10 1,081 2,274
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 2.11 -7.91 6.88 0.00 0.00 633 1,304
CHW Calamos Glbl Dyn Incm Fd Calamos 1.09 -10.05 9.06 0.00 36.20 470 1,357
RIV RiverNorth Opp Fd RiverNorth 1.05 -2.48 12.98 77.50 31.41 260 905
SCD LMP Cap & Incm Fd Franklin Templeton 1.02 -3.70 9.39 1.09 18.85 273 665
GLO Clough Glbl Opp Fd Clough 1.08 -11.46 11.98 100.00 31.42 243 811
ECAT BR ESG Cap Alloc Trm Tr BlackRock 1.06 -3.02 22.85 92.77 0.00 1,612 5,355
DSL DbLin Incm Solutions Fd Doubleline 0.86 0.83 10.89 13.71 21.17 1,323 5,926
BIT BR Mlt-Sctr Incm Tr BlackRock 0.88 0.49 10.37 34.15 33.55 596 2,497
BTZ BR Cr Alloc Incm Tr BlackRock 0.88 -4.68 9.51 30.76 34.51 1,037 3,033
DBL DbLin Opportunistic Cr Fd Doubleline 0.88 1.97 8.52 27.65 15.41 277 933
BRW Saba Cap Incm & Opp Fd Saba Capital 0.88 -7.05 13.33 12.23 16.35 350 1,221
PAXS PIMCO Access Incm Fd PIMCO 0.85 0.86 11.82 10.02 38.49 683 3,103
GOF Gghm Stgc Opp Fd Guggenheim Funds 0.84 27.59 15.05 57.70 17.04 1,969 17,668
PHK PIMCO Hi Incm Fd PIMCO 0.89 5.24 11.95 12.10 7.61 783 3,811
PCF Hi Incm Sec Fd Hi Incm Sec Fd 0.85 -8.15 11.28 31.37 0.00 202 455
PFN PIMCO Incm Stgy Fd II PIMCO 0.87 3.28 11.90 12.02 8.21 652 2,607
AWF AB Glbl Hi Incm Fd AllianceBernstein 0.88 -4.14 7.38 0.00 17.84 958 2,552
HFRO Highland Opp & Incm Fd NexPoint 0.87 -57.81 9.15 0.00 15.84 662 1,410
PDO PIMCO Dyn Incm Opp Fd PIMCO 0.88 5.22 11.37 9.12 34.18 1,660 9,029
RA Brkf Real Ast Incm Fd Brookfield 0.87 -9.95 11.02 15.69 24.28 788 2,499
NPCT Nuv Core Plus Impact Fd Nuveen 0.88 -7.44 13.82 59.89 35.42 321 1,609
PFL PIMCO Incm Stgy Fd PIMCO 0.87 4.79 11.75 21.54 10.91 354 1,353
WDI WA Divr Incm Fd Franklin Templeton 0.89 -1.66 12.51 0.00 32.30 750 2,831
PDI PIMCO Dyn Incm Fd PIMCO 0.87 14.06 13.88 24.40 32.41 6,277 51,540
FINS Angel Oak Fin Stgs Incm Trm Tr Angel Oak 0.87 -8.47 9.92 43.85 26.40 361 637
BHK BR Core Bnd Tr BlackRock 0.86 3.05 8.54 33.55 38.56 551 1,300
CLM Cornerstone Stgc Inv Fd Cornerstone 1.00 11.89 20.80 58.99 0.00 1,605 18,082
CRF Cornerstone Tot Rtn Fd Cornerstone 0.99 12.79 20.64 67.75 0.00 718 9,455
DNP DNP Sel Incm Fd Virtus 1.01 4.79 8.10 26.41 25.07 3,396 6,604
IAE Voya AP Hi Div Eq Incm Fd Voya 1.07 -10.50 12.36 80.58 0.00 76 410
GGN GAMCO Glbl Gd NtrRes Incm Gabelli 1.03 -2.26 8.33 71.94 10.00 688 2,889
THQ abrdn Health Opp Fd abrdn 0.92 1.33 11.83 51.63 22.60 746 2,265
MEGI MainStay CBRE Glbl Infra MTrnd Trm New York Life 1.07 -8.54 10.95 41.67 25.40 780 2,381
THW abrdn Wld Health Fd abrdn 0.95 1.85 13.36 64.87 22.08 412 1,353
AEF abrdn Emrg Mkt ex-China Fd abrdn 1.10 -13.01 11.36 97.41 11.72 246 1,318
HQH abrdn Health Invstr abrdn 0.97 -8.60 14.21 39.87 0.00 896 2,995
BTO JH Fin Opp Fd John Hancock 1.01 1.58 7.79 6.80 16.84 650 1,565
UTF C&S Infra Fd Cohen&Steers 1.04 3.35 7.27 4.39 29.00 2,389 5,955
ASGI abrdn Glbl Infra Incm Fd abrdn 1.08 -7.38 12.57 29.23 0.00 597 2,905
FSCO FS Cr Opp Corp FS/KKR 1.68 -3.67 10.92 0.00 37.49 1,460 7,256
XFLT XAI Octgn Flt Rt & Alt Incm Tr XA Investments 1.64 -3.23 16.21 0.00 37.89 449 2,958
VVR Invsc Sr Incm Tr Invesco 1.59 -3.76 12.74 18.61 33.82 571 3,468
JFR Nuv Flt Rt Incm Fd Nuveen 1.63 -6.61 12.45 8.58 35.01 1,412 8,293
FRA BR Flt Rt Incm Stgc Fd BlackRock 1.63 0.96 11.78 25.50 24.00 442 1,832
SABA Saba Cap Incm & Opp Fd II Saba Capital 1.65 -11.23 8.07 52.51 47.56 273 677
BGT BR Flt Rt Incm Fd BlackRock 1.63 -0.66 11.93 26.81 18.95 328 1,633
KIO KKR Incm Opp Fd KKR Credit 1.64 -3.90 12.09 0.00 35.15 522 3,014
DSU BR Dbt Stgs Fd BlackRock 1.68 1.55 11.28 26.32 15.43 563 2,779
PDT JH Prm Div Fd John Hancock 3.01 -5.42 7.76 11.13 35.49 663 1,509
ARCC Ares Capital Corp Ares 1.12 6.26 9.12 0.00 49.16 13,669 111,623
OBDC Blue Owl Cap Corp Blue Owl 1.15 -8.26 10.66 0.00 55.29 7,737 56,205
BXSL Blackstone Secur Lending Fd Blackstone 1.11 8.69 10.35 0.00 52.85 6,245 38,981
HTGC Hercules Capital Hercules 1.07 51.34 9.15 0.00 49.03 2,026 24,541
GBDC Golub Capital BDC Golub Capital 1.13 -3.86 10.79 0.00 54.00 4,006 23,779
PFLT PennantPark Flt Rt Cap PennantPark 1.08 -11.11 12.20 0.00 57.26 997 15,401
MSDL MS Direct Lending Fd MS Cap Patnr Advis 1.13 -9.93 10.75 0.00 51.35 1,800 11,694
OCSL Oaktree Splty Lending Oaktree Capital 1.06 -17.67 11.60 0.00 47.04 1,475 11,948
CSWC Cap Southwest Corp Capital Southwest 1.06 20.61 11.59 0.00 51.43 839 12,218
PSEC Prospect Capital Corp Prospect Capital 1.03 -51.17 15.25 0.00 52.32 3,274 10,580
TYG Tortoise Nrg Infra Corp Tortoise 1.11 -8.82 10.92 89.05 19.60 759 3,870
EMO CB Nrg Midstream Opp Fd Franklin Templeton 1.09 -9.07 9.56 8.91 24.89 904 1,985
NML NB Nrg Infra & Incm Fd Neuberger Berman 1.13 -9.63 8.21 100.00 17.97 535 1,625
SRV NXG Cushing Midstream Nrg Fd Cushing 1.09 1.95 13.44 94.49 29.44 158 1,508
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 3.22 -2.26 12.34 57.61 32.95 364 1,634
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 3.11 -3.87 11.59 66.29 24.31 160 943
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 3.11 1.82 14.29 62.14 32.12 726 3,529
LDP C&S Ltd Dur Pref & Incm Fd Cohen&Steers 1.41 -6.42 7.82 3.48 33.00 625 1,518
JPC Nuv Pref & Incm Opp Fd Nuveen 1.42 0.13 10.18 9.10 38.20 2,523 8,396
DFP F&C Dyn Pref & Incm Fd Flaherty & Crumrine 1.41 -7.76 7.01 0.00 38.60 447 1,169
FPF FT Imd Dur Pref & Incm Fd First Trust 1.38 -4.40 9.26 25.89 35.23 1,134 2,249

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.

© Closed-End Fund Advisors Inc.(CEFadvisors) and CEFdata.com 2019. 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 %