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10. All Sector Equity CEF Index

Data as of 12/03/2021 11/30/2021 10/29/2021 09/30/2021 08/31/2021 07/30/2021 06/30/2021 05/28/2021 04/30/2021 03/31/2021 02/26/2021 01/29/2021 12/31/2020 11/30/2020 10/30/2020 09/30/2020 08/31/2020 07/31/2020 06/30/2020 05/29/2020 04/30/2020 03/31/2020 02/28/2020 01/31/2020 12/31/2019 11/29/2019 10/31/2019 09/30/2019 08/30/2019 07/31/2019 06/28/2019 05/31/2019 04/30/2019 03/29/2019 02/28/2019 01/31/2019 12/31/2018 11/30/2018 10/31/2018 09/28/2018 08/31/2018 07/31/2018 06/29/2018 05/31/2018 04/30/2018 03/29/2018 02/28/2018 01/31/2018 12/29/2017 11/30/2017 10/31/2017 09/29/2017 08/31/2017 06/30/2017

• About
• Performance
• Discount
• Characteristics
• Asset Allocation
• Constituents
• Prices
• Disclosure

Index Performance

	Current($)	Previous Day(%)	1 Week(%)	1 Month(%)	3 Month(%)	6 Month(%)	1 Year(%)	3 Year(%)	5 Year(%)	MTD(%)	QTD(%)	YTD(%)
Price	1,800.98	-1.30	-2.04	-5.65	-3.76	-1.34	23.45	14.82	12.97	-2.04	-0.01	20.07
NAV	1,625.12	-0.80	-1.39	-5.18	-3.63	-1.82	16.98	12.55	10.70	-1.39	0.44	13.72
Difference		0.50	0.65	0.46	0.13	-0.49	-6.46	-2.27	-2.27	0.65	0.45	-6.36
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2021 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	1.94	5.28	4.27	11.91	4.11	3.16	1.35	8.85	21.81	-0.80	2.64	-3.18	-1.42	4.86	-2.66	-	-	-	-
NAV	0.74	3.49	3.22	7.62	4.15	2.26	0.60	7.14	15.30	-0.21	1.77	-3.31	-1.81	4.73	-2.75	-	-	-	-
Difference	-1.20	-1.78	-1.05	-4.29	0.03	-0.90	-0.75	-1.71	-6.50	0.59	-0.88	-0.13	-0.39	-0.14	-0.09	-	-	-	-
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	-0.69	-10.84	-21.27	-30.29	14.01	5.04	1.63	21.71	-15.16	3.78	4.51	-3.93	4.20	-2.13	16.23	5.28	19.76	24.79	5.87
NAV	-1.49	-7.88	-19.54	-26.98	12.95	4.92	1.88	20.74	-11.84	4.71	3.85	-3.31	5.14	-1.04	12.18	4.69	16.22	22.19	7.72
Difference	-0.80	2.96	1.73	3.31	-1.06	-0.12	0.25	-0.97	3.32	0.93	-0.67	0.62	0.94	1.10	-4.05	-0.59	-3.54	-2.60	1.85
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	12.93	2.71	1.27	17.46	2.47	-5.65	6.39	2.86	20.82	0.87	-2.92	2.88	0.74	1.57	1.02	3.64	6.35	7.14	29.45
NAV	9.39	2.39	1.50	13.69	2.16	-5.39	5.82	2.27	16.27	-0.13	-2.04	1.96	-0.25	1.68	1.16	3.64	6.60	6.33	23.63
Difference	-3.53	-0.32	0.23	-3.77	-0.31	0.26	-0.57	-0.59	-4.55	-1.00	0.88	-0.93	-1.00	0.10	0.14	0.00	0.25	-0.81	-5.81
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	4.51	-4.40	-1.77	-1.87	1.99	0.27	-0.46	1.79	-0.11	2.99	1.06	-0.77	3.28	-9.80	2.89	-8.90	-15.45	-12.68	-12.78
NAV	4.64	-5.38	-1.17	-2.15	1.26	0.58	-0.62	1.22	-0.96	3.62	0.58	-0.57	3.63	-7.18	1.70	-7.03	-12.24	-9.06	-9.93
Difference	0.13	-0.98	0.60	-0.28	-0.72	0.31	-0.16	-0.58	-0.85	0.62	-0.47	0.20	0.35	2.62	-1.19	1.87	3.21	3.63	2.85
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	5.02	3.40	1.58	10.30	3.42	1.16	1.12	5.78	16.68	2.87	-0.75	2.84	5.00	0.26	-0.47	2.64	2.42	7.54	25.48
NAV	3.07	2.78	1.14	7.13	1.31	1.03	1.00	3.37	10.74	2.72	0.04	1.42	4.21	0.67	1.24	1.28	3.23	7.58	19.14
Difference	-1.95	-0.62	-0.44	-3.17	-2.11	-0.13	-0.12	-2.41	-5.94	-0.15	0.79	-1.42	-0.79	0.41	1.71	-1.35	0.81	0.04	-6.34
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-7.24	0.15	8.22	0.53	3.36	0.78	1.80	6.04	6.61	4.71	0.24	-0.37	4.57	-3.25	0.89	1.69	-0.75	3.79	10.64
NAV	-5.62	-0.75	6.96	0.18	2.30	0.97	1.03	4.35	4.55	3.66	-0.16	0.27	3.77	-2.25	0.47	1.88	0.06	3.83	8.55
Difference	1.62	-0.90	-1.26	-0.35	-1.06	0.19	-0.77	-1.69	-2.06	-1.05	-0.40	0.64	-0.80	1.01	-0.42	0.19	0.80	0.04	-2.10
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	0.44	4.65	-1.69	3.33	1.92	-0.07	-3.73	-1.95	1.31	-2.42	-6.92	-5.12	-13.82	9.32	-2.46	-2.45	4.03	-10.35	-9.18
NAV	-0.13	4.02	-1.25	2.58	2.34	-0.01	-2.76	-0.51	2.06	-0.71	-6.02	-4.42	-10.81	7.34	-1.75	-3.02	2.27	-8.78	-6.90
Difference	-0.57	-0.63	0.43	-0.75	0.42	0.06	0.96	1.45	0.75	1.71	0.91	0.69	3.01	-1.98	0.70	-0.57	-1.75	1.57	2.27

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -3.00%	1Yr Disc -4.45%	3Yr Disc -6.00%	5Yr Disc -5.93%	Rel Disc Range (3yr) 70.69%
Mkt Yield 8.19%	Lev Adj NAV Yield 7.49%	After Tax Yield* 7.06%	Est Tax Friction* 1.13%	3Yr NAV Volatiliy 24.96
1 Yr RoC 42.62%	3 Yr Dest RoC 18.19%	Leverage 10.21%	Non Lev Exp Ratio 1.29%	Beta (2yr) 1.04
Equity Exposure 91.15%	Bond Exposure 6.82%	# Holdings 83	Cash Weighted Duration 0.07
Comp NAV TR -1.12%	Comp Discount 2.98%	Net Assets (M) 1,008	Liquidity - 90d (K) 2,585
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

83 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
ADX	Adams Divr Eq Fd	Adams Funds	1.31	-13.67	6.19	0.00	0.00	2,388	3,459
AOD	Abd Tot Dyn Div Fd	Aberdeen	1.99	-10.28	7.19	0.49	0.00	1,128	2,131
ASG	Liberty All-Star Gwth Fd	ALPS	2.03	5.28	8.60	0.00	0.00	429	2,304
BGY	BR Enh Intl DivTr	BlackRock	2.00	-6.58	6.65	31.83	0.00	681	1,348
BIF	Boulder Gwth & Incm Fd	Boulder	1.39	-17.78	3.71	10.72	12.81	1,541	1,196
BSTZ	BR Sci & Tech Tr II	BlackRock	1.94	-6.37	6.19	6.70	0.00	3,103	4,426
CAF	MS China A Shr Fd	Morgan Stanley	1.38	-12.17	0.00	0.00	0.00	518	603
CET	Cntrl Sec Corp	Central Securities	1.31	-16.76	9.44	0.00	0.00	1,252	730
CLM	Cornerstone Stgc Val Fd	Cornerstone	2.36	41.63	15.44	42.55	0.00	1,183	18,248
CRF	Cornerstone Tot Rtn Fd	Cornerstone	2.35	41.71	15.31	32.07	0.00	603	8,997
EMF	Tmp Emrg Mkt Fd	Franklin Templeton	1.38	-10.36	0.00	0.00	4.36	300	468
EOD	WF Glbl Div Opp Fd	Wells Fargo	2.15	-3.01	9.02	0.00	15.60	259	951
ETG	EV Tx-Adv Glbl Div Incm Fd	Eaton Vance	2.85	-1.70	7.28	15.33	18.50	1,663	2,630
ETO	EV Tx-Adv Glbl Div Opp Fd	Eaton Vance	1.41	-1.32	7.17	1.34	17.80	477	1,642
EVT	EV Tx-Adv Div Incm Fd	Eaton Vance	2.87	0.47	7.01	0.00	18.20	2,036	2,556
GAB	Gabelli Eq Tr	Gabelli	1.49	13.62	8.89	52.08	19.00	1,797	3,835
GAM	General American Invstr	General American Inv	1.36	-15.85	7.28	0.00	13.57	1,190	880
GDV	Gabelli Div & Incm Tr	Gabelli	2.81	-9.56	5.13	0.09	14.00	2,572	3,479
GGT	Gabelli Multimedia Tr	Gabelli	1.41	14.18	9.59	25.32	29.00	219	451
GLQ	Clough Glbl Eq Fd	Clough	1.95	0.21	11.47	0.00	39.48	247	1,318
HGLB	Highland Glbl Alloc Fd	Highland Capital	1.95	-23.53	9.75	0.00	10.20	251	692
HIE	Miller/Howard Hi Incm Eq Fd	Miller/Howard	1.37	-8.45	6.04	33.98	24.22	195	550
IAE	Voya AP Hi Div Eq Incm Fd	Voya	2.92	-10.66	10.80	80.22	0.00	106	422
IDE	Voya Infra Ind & Matrls Fd	Voya	1.31	-7.80	7.90	72.33	0.00	208	526
IFN	India Fund	Aberdeen	1.33	-10.50	11.09	27.51	0.00	661	1,828
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.99	-9.22	8.26	65.58	0.00	517	1,485
IHD	Voya Emrg Mkt Hi Div Eq Fd	Voya	3.03	-7.53	10.11	81.88	0.00	147	439
JCE	Nuv Core Eq Alpha Fd	Nuveen	1.44	-0.89	7.31	0.00	0.00	269	855
LGI	Lzrd Glbl Tot Rtn & Incm Fd	Lazard	1.40	-5.94	6.98	18.92	25.20	274	694
RMT	Royce Micro-Cap Tr	Franklin Templeton	1.35	-13.05	7.59	10.86	3.45	564	1,221
RVT	Royce Val Tr	Franklin Templeton	2.12	-9.16	17.11	0.00	3.11	2,074	3,388
SPE	Spl Opp Fd	Bulldog	1.43	-7.02	8.32	16.93	6.04	212	532
TDF	Tmp Dragon Fd	Franklin Templeton	1.35	-8.73	5.34	0.00	0.00	643	1,478
TY	Tri-Cont Corp	Columbia Mngmt	2.18	-10.14	3.45	0.00	1.90	2,021	1,468
USA	Liberty All-Star Eq Fd	ALPS	1.92	0.51	10.66	0.00	0.00	1,974	9,559
BST	BR Sci & Tech Tr	BlackRock	0.31	-7.48	6.06	7.08	0.00	1,716	7,048
EXG	EV Tx-Mgd Glbl Divr Eq Incm	Eaton Vance	0.33	0.60	8.21	51.81	0.00	3,032	5,631
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	0.33	2.89	8.29	98.85	0.00	1,531	4,446
BDJ	BR Enh Eq Div Tr	BlackRock	0.32	-4.36	6.22	6.55	0.00	1,877	3,487
ETY	EV Tx-Mgd Divr Eq Incm Fd	Eaton Vance	0.33	1.21	7.83	44.55	0.00	2,133	3,360
NFJ	Virtus Div Int & Prm Stgy Fd	Virtus	0.33	-9.95	5.85	25.85	0.00	1,619	2,715
QQQX	Nuv Nasdaq 100 Dyn Owrt Fd	Nuveen	0.34	1.10	6.12	76.92	0.00	1,293	2,914
EOS	EV Enh Eq Incm Fd II	Eaton Vance	0.33	2.45	7.03	24.33	0.00	1,143	2,061
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	0.32	0.86	8.25	34.26	0.00	1,128	2,084
BXMX	Nuv S&P 500 By-Wrt Inc Fd	Nuveen	0.33	-4.26	5.98	64.47	0.00	1,562	2,073
ETJ	EV Risk-Mgd Divr Eq Incm Fd	Eaton Vance	0.32	3.71	8.60	75.10	0.00	654	1,661
BOE	BR Enh Glbl DivTr	BlackRock	0.33	-8.79	6.45	18.54	0.00	823	1,560
CII	BR Enh Cap & Incm Fd	BlackRock	0.33	-2.97	5.80	0.35	0.00	935	1,492
KYN	KA Nrg Infra Fd	Kayne Anderson	0.46	-13.42	9.11	100.00	26.39	1,122	4,074
FEI	FT MLP & Nrg Incm Fd	First Trust	0.46	-7.72	8.51	39.18	21.04	346	1,432
TYG	Tortoise Nrg Infra Corp	Tortoise	0.47	-23.09	6.71	100.00	24.10	416	1,681
CEM	CB MLP & Midstream Fd	Franklin Templeton	0.46	-15.51	7.31	100.00	29.41	422	1,207
KMF	KA NextGen Nrg & Infra	Kayne Anderson	0.46	-19.47	7.97	74.57	26.74	412	944
FEN	FT Nrg Incm & Gwth Fd	First Trust	0.47	-2.34	8.99	90.08	21.27	266	801
EMO	CB Nrg Midstream Opp Fd	Franklin Templeton	0.46	-19.55	7.15	100.00	30.03	352	1,049
NTG	Tortoise Midstream Nrg Fd	Tortoise	0.48	-20.88	7.77	100.00	21.70	209	919
NML	NB MLP & Nrg Incm Fd	Neuberger Berman	0.47	-21.04	3.92	100.00	15.10	358	719
RQI	C&S Qlty Incm Rty Fd	Cohen&Steers	1.52	-4.36	6.00	0.00	24.10	2,247	4,905
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Invst Mgmt	1.51	-8.43	6.73	57.81	20.36	1,134	2,363
AWP	Abd Glbl Prmr Prop Fd	Aberdeen	1.45	-7.20	7.75	58.50	15.00	570	1,889
BMEZ	BR Health Sci Tr II	BlackRock	0.91	-8.22	7.53	5.04	N/A	2,836	3,600
HQH	Tekla Health Invstr	Tekla	0.94	-0.48	8.87	32.60	0.00	1,032	2,521
THQ	Tekla Health Opp Fd	Tekla	1.08	-1.54	5.85	30.33	18.71	968	1,989
THW	Tekla Wld Health Fd	Tekla	1.00	5.22	9.02	98.99	17.50	548	1,530
BCX	BR Res & Com Stgy Tr	BlackRock	1.44	-5.69	5.26	56.70	0.00	854	2,329
GGN	GAMCO Glbl Gd NtrRes Incm	Gabelli	1.43	0.00	9.57	75.56	13.00	579	2,183
NRGX	PIMCO Nrg & Tac Cr Opp Fd	PIMCO	1.48	-15.04	5.35	76.05	16.50	669	1,845
CSQ	Calamos Stgc Tot Rtn Fd	Calamos	0.63	1.99	6.66	1.93	28.79	2,850	3,569
GLO	Clough Glbl Opp Fd	Clough	0.57	0.53	11.36	0.00	39.68	454	2,133
RIV	RiverNorth Opp Fd	RiverNorth	0.60	0.79	12.29	8.88	10.79	288	2,707
NIE	Virtus AG Eq & Convt Incm Fd	Virtus	0.61	-11.03	5.04	0.00	0.00	940	1,523
CPZ	Calamos Lng-Srt Eq & Dyn Incm	Calamos	0.56	-7.74	8.97	0.00	20.79	398	1,094
ZTR	Virtus Tot Rtn Fd	Virtus	0.61	3.77	10.27	64.27	26.00	430	1,172
UTG	Reaves Util Incm Fd	W.H. Reaves	0.71	0.46	6.89	0.00	17.26	2,098	8,179
DNP	DNP Sel Incm Fd	Virtus	0.71	14.67	7.34	29.87	25.13	3,148	4,775
UTF	C&S Infra Fd	Cohen&Steers	0.71	2.67	6.80	11.42	27.90	2,497	3,834
DPG	D&P Util & Infra Fd	Virtus	0.73	4.92	9.94	71.93	28.66	509	1,326
BUI	BR Util Infra & Pwr OppTr	BlackRock	0.71	1.60	5.73	31.22	0.00	531	1,580
GUT	Gabelli Util Tr	Gabelli	0.72	92.79	7.48	95.50	27.00	264	854
FDEU	FT Dyn Euro Eq Incm Fd	First Trust	1.61	-13.45	5.89	14.83	22.91	243	497
CUBA	Herzfeld Caribbean Basin Fd	Herzfeld Cuba	1.55	-16.22	20.09	100.00	0.00	37	142
BTO	JH Fin Opp Fd	John Hancock	1.64	6.34	5.29	17.07	14.05	736	1,582
NMAI	Nuv Multi-Asset Incm Fd	Nuveen	1.33	-5.78	7.60	N/A	N/A	653	2,643

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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