11. Alternative Income Index

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.

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