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01. All Debt BDC Funds - Cap Weighted

Data as of 06/27/2025 05/30/2025 04/30/2025 03/31/2025 02/28/2025 01/31/2025 12/31/2024 11/29/2024 10/31/2024 09/30/2024 08/30/2024 07/31/2024 06/28/2024 05/31/2024 04/30/2024 03/28/2024 02/29/2024 01/31/2024 12/29/2023 11/30/2023 10/31/2023 09/29/2023 08/31/2023 07/31/2023 06/30/2023 05/31/2023 04/28/2023 03/31/2023 03/23/2023 02/28/2023 01/31/2023 12/30/2022 11/30/2022 10/31/2022 09/30/2022 08/31/2022 07/29/2022 06/30/2022 05/31/2022 04/29/2022 03/31/2022 02/28/2022 02/11/2022 01/31/2022 12/31/2021 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(%)	10 Year(%)	MTD(%)	QTD(%)	YTD(%)
Price	2,362.14	0.22	1.23	-0.04	-1.89	-0.09	5.95	14.57	17.52	9.26	-0.27	-0.80	-0.08
NAV	2,151.59	0.22	0.30	0.53	1.23	3.78	9.21	8.32	15.53	7.77	0.51	1.15	2.97
Difference		0.00	-0.93	0.57	3.12	3.87	3.26	-6.25	-2.00	-1.49	0.78	1.96	3.05
* Periods greater than 1 Year are annualized.      ** On Inception Date (March 31, 2015), Index Price was $1,000 and NAV was $1,000.00

2025 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2025
Price	5.67	0.50	-5.15	0.73	-5.50	5.25	-	-	-	-	-	-	-	-	-	-	-	-	-
NAV	1.07	0.11	0.59	1.79	0.28	0.36	-	-	-	-	-	-	-	-	-	-	-	-	-
Difference	-4.60	-0.39	5.75	1.06	5.78	-4.90	-	-	-	-	-	-	-	-	-	-	-	-	-
2024 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2024
Price	2.86	0.18	2.46	5.59	2.21	3.30	-1.78	3.70	9.50	1.55	-1.57	-0.10	-0.15	2.09	4.00	0.08	6.26	6.10	16.18
NAV	1.24	0.17	0.89	2.31	1.37	0.35	1.07	2.80	5.18	0.92	0.36	1.09	2.39	1.06	0.31	1.62	3.02	5.48	10.94
Difference	-1.63	-0.01	-1.58	-3.27	-0.84	-2.95	2.84	-0.90	-4.32	-0.63	1.93	1.20	2.54	-1.03	-3.69	1.54	-3.24	-0.62	-5.23
2023 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2023
Price	9.44	1.69	-5.38	5.30	2.10	0.53	3.74	6.48	12.13	6.80	-0.63	0.66	6.83	-3.37	6.12	3.07	5.69	12.91	26.60
NAV	0.22	0.15	1.53	1.91	1.11	0.33	1.44	2.90	4.86	1.27	0.37	2.33	4.01	2.03	0.35	1.60	4.02	8.19	13.45
Difference	-9.22	-1.54	6.91	-3.39	-0.99	-0.20	-2.30	-3.58	-7.27	-5.53	1.00	1.67	-2.82	5.39	-5.76	-1.47	-1.67	-4.71	-13.15
2022 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	1.50	-0.29	0.76	1.97	-3.79	-3.28	-7.18	-13.62	-11.91	8.70	0.22	-14.93	-7.32	12.13	4.99	-6.07	10.58	2.48	-9.73
NAV	2.26	0.14	1.10	3.53	0.76	0.72	-1.44	0.03	3.56	-1.63	0.73	-0.08	-1.00	-0.48	0.76	0.42	0.69	-0.31	3.24
Difference	0.75	0.43	0.34	1.56	4.55	4.00	5.74	13.65	15.47	-10.33	0.51	14.84	6.32	-12.60	-4.24	6.49	-9.88	-2.79	12.97
2021 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	3.26	9.56	3.05	16.58	6.56	1.40	0.06	8.12	26.04	1.19	2.08	-0.82	2.45	4.89	-2.30	2.00	4.52	7.09	34.97
NAV	3.99	0.14	3.03	7.29	2.92	0.58	3.71	7.37	15.20	3.52	0.51	2.28	6.43	2.16	0.49	2.34	5.06	11.82	28.81
Difference	0.73	-9.42	-0.02	-9.28	-3.63	-0.82	3.65	-0.75	-10.84	2.33	-1.57	3.10	3.97	-2.73	2.79	0.34	0.54	4.73	-6.16
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	-0.23	-9.44	-36.10	-42.26	17.65	10.69	-1.08	28.81	-25.62	0.58	4.61	-1.43	3.71	-3.18	20.87	0.85	18.02	22.41	-8.96
NAV	0.47	0.20	-10.53	-9.92	-10.52	0.77	2.85	-7.26	-16.46	2.42	0.75	3.99	7.31	3.59	0.70	3.98	8.46	16.39	-2.77
Difference	0.71	9.64	25.57	32.34	-28.18	-9.92	3.94	-36.07	9.16	1.84	-3.86	5.42	3.60	6.78	-20.18	3.12	-9.56	-6.01	6.19
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	13.12	3.07	-1.66	14.65	4.80	-3.39	2.65	3.93	19.16	2.27	0.03	1.76	4.10	1.29	3.76	0.17	5.28	9.60	30.60
NAV	-1.87	0.15	2.01	0.25	1.58	0.30	1.03	2.93	3.19	0.70	0.31	0.59	1.60	0.34	0.61	0.55	1.50	3.13	6.41
Difference	-14.98	-2.92	3.67	-14.40	-3.22	3.69	-1.63	-1.00	-15.97	-1.58	0.28	-1.17	-2.50	-0.95	-3.15	0.38	-3.77	-6.47	-24.18
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	0.11	-4.09	1.13	-2.90	2.70	4.51	-0.77	6.50	3.42	5.29	1.05	-1.28	5.03	-3.14	0.53	-9.10	-11.49	-7.04	-3.86
NAV	0.92	0.16	0.54	1.62	1.04	0.26	1.52	2.83	4.50	1.31	0.49	1.14	2.97	0.89	0.30	-1.06	0.11	3.09	7.72
Difference	0.81	4.24	-0.59	4.52	-1.66	-4.25	2.28	-3.67	1.08	-3.97	-0.56	2.42	-2.06	4.03	-0.23	8.04	11.60	10.12	11.58
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	1.81	5.19	0.86	8.01	2.54	-6.49	1.39	-2.78	5.00	1.44	-5.23	3.55	-0.45	-1.84	1.01	-2.01	-2.85	-3.29	1.55
NAV	0.73	0.21	0.84	1.78	0.71	0.30	0.94	1.97	3.79	0.79	0.28	0.43	1.50	0.28	0.25	1.15	1.68	3.21	7.12
Difference	-1.08	-4.98	-0.02	-6.22	-1.83	6.79	-0.45	4.75	-1.22	-0.66	5.51	-3.12	1.96	2.12	-0.76	3.16	4.52	6.49	5.56
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-5.15	2.96	7.31	4.79	3.92	-2.39	2.95	4.43	9.43	6.93	5.28	-2.66	9.57	-0.18	4.26	1.90	6.05	16.20	27.16
NAV	-2.63	0.21	-0.12	-2.55	-0.15	0.32	1.15	1.32	-1.27	1.14	0.34	1.90	3.41	1.85	0.32	0.87	3.07	6.58	5.23
Difference	2.52	-2.75	-7.43	-7.34	-4.08	2.71	-1.80	-3.11	-10.70	-5.79	-4.94	4.56	-6.17	2.02	-3.93	-1.02	-2.98	-9.62	-21.93

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount 7.79%	1Yr Disc 8.91%	3Yr Disc 3.66%	5Yr Disc 3.89%	Rel Disc Range (3yr) 59.65%
Mkt Yield 10.13%	Lev Adj NAV Yield 6.86%	After Tax Yield* 7.60%	Est Tax Friction* 2.53%	3Yr NAV Volatiliy 3.59
1 Yr RoC 0.00%	3 Yr Dest RoC 0.00%	Leverage 51.28%	Non Lev Exp Ratio 3.34%	Beta (2yr) 0.53
Equity Exposure 9.75%	Bond Exposure 86.94%	# Holdings 48	Cash Weighted Duration
Comp NAV TR 3.84%	Comp Discount 16.41%	Net Assets (M) 5,521	Liquidity - 90d (K) 40,194
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

48 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
ARCC	Ares Capital Corp	Ares	19.57	10.75	8.75	0.00	49.16	13,669	112,874
BBDC	Barings BDC	Barings	1.28	-19.40	11.43	0.00	54.30	1,188	4,614
BCSF	Bain Cap Splty Fin	BCSF Advisors	1.25	-15.31	11.24	0.00	54.92	1,144	4,682
BXSL	Blackstone Secur Lending Fd	Blackstone	9.47	14.42	9.83	0.00	52.85	6,245	38,203
CCAP	Crescent Capital BDC	Crescent Capital	0.72	-26.20	11.60	0.00	54.70	727	3,115
CGBD	Carlyle Secured Lending	Carlyle	1.35	-16.30	11.49	0.00	49.69	1,212	6,050
CION	CION Inv Corp	CION Inv Mgmt	0.70	-33.40	15.14	0.00	64.19	752	3,633
CSWC	Cap Southwest Corp	Capital Southwest	1.50	30.96	10.61	0.00	50.78	884	13,294
FDUS	Fidus Investment Corp	Fidus	0.92	2.58	8.65	0.00	43.08	679	4,208
FSEN	FS Splty Lending Fd	FS/EIG Advisor	1.44	-30.66	12.89	0.00	40.65	1,535	17
FSK	FS KKR Capital Corp	FS/KKR	7.71	-11.68	12.40	0.00	53.70	6,545	33,152
GAIN	Gladstone Inv Corp	Gladstone	0.70	3.91	6.82	0.00	45.28	499	2,246
GBDC	Golub Capital BDC	Golub Capital	5.15	-3.99	10.80	0.00	54.00	4,006	22,434
GECC	Great Elm Cap Corp	Great Elm Capital	0.16	-6.02	13.74	0.00	57.60	132	236
GLAD	Gladstone Cap Corp	Gladstone	0.78	24.85	7.41	0.00	37.51	478	2,844
GSBD	Goldman Sachs BDC	Goldman Sachs	1.85	-11.89	11.01	0.00	53.31	1,548	8,900
HRZN	Horizon Tech Fin Corp	Horizon Tech Fin	0.39	-5.28	18.41	0.00	59.65	305	3,760
HTGC	Hercules Capital	Hercules	4.17	57.06	8.82	0.00	49.03	2,026	23,445
ICMB	Investcorp Cr Mgmt BDC	Investcorp	0.05	-48.89	17.33	0.00	58.28	78	134
KBDC	Kayne Anderson BDC	KA Credit Advisors	1.49	-4.97	10.20	0.00	44.97	1,170	2,444
LRFC	Logan Ridge Fin Corpn	Mount Logan	0.07	-36.65	7.66	0.00	53.41	79	214
MAIN	Main Street Cap Corp	Main Street Capital	6.88	84.08	5.19	0.00	42.73	2,852	34,064
MFIC	MidCap Fin Invt Corp	Apollo	1.55	-16.28	12.16	0.00	57.87	1,393	5,776
MRCC	Monroe Capital Corp	Monroe Capital	0.18	-26.54	15.77	0.00	58.76	187	553
MSDL	MS Direct Lending Fd	MS Cap Patnr Advis	2.24	-6.92	10.41	0.00	51.35	1,800	9,298
MSIF	MSC Incm Fd	Main Street Capital	1.01	6.32	8.58	0.00	43.12	724	1,060
NCDL	Nuv Churchill Direct Lending	Churchill DLC Advis	1.12	-8.69	10.98	0.00	55.71	903	4,414
NMFC	New Mountain Fin Corp	New Mountain Capital	1.47	-15.34	12.14	0.00	56.44	1,343	5,682
OBDC	Blue Owl Cap Corp	Blue Owl	9.87	-3.96	10.18	0.00	55.29	7,737	45,739
OCSL	Oaktree Splty Lending	Oaktree Capital	1.54	-19.04	11.80	0.00	47.04	1,475	9,898
OFS	OFS Capital Corp	OFS Capital	0.15	-29.41	16.09	0.00	59.86	160	433
OXSQ	Oxford Square Cap Corp	Oxford Lane	0.21	7.18	18.75	0.00	43.35	149	1,201
PFLT	PennantPark Flt Rt Cap	PennantPark	1.32	-7.41	12.00	0.00	55.25	1,098	12,055
PFX	PhenixFIN Corp	PhenixFIN Corp	0.13	-36.48	0.00	0.00	45.70	159	70
PIAC	Princeton Cap Corp	House Hanover	0.01	-56.25	0.00	N/A	0.00	19	0
PNNT	PennantPark Inv Corp	PennantPark	0.59	-9.49	14.18	0.00	49.61	488	3,483
PSBD	Palmer Sq Cap BDC	Palmer Sq BDC Advis	0.60	-12.18	10.34	0.00	56.82	513	674
PSEC	Prospect Capital Corp	Prospect Capital	1.91	-56.14	16.98	0.00	52.32	3,274	10,957
PTMN	Portman Ridge Fin Corpn	Sierra Crest Inv Mgmt	0.15	-33.85	15.08	0.00	57.74	173	654
RWAY	Runway Gwth Fin Corp	Runway Gwth Cap	0.55	-21.44	12.46	0.00	47.65	503	3,787
SAR	Saratoga Inv Corp	Saratoga	0.50	-4.56	12.16	0.00	65.61	397	2,696
SCM	Stellus Cap Inv Corp	Stellus Capital	0.52	5.58	11.43	0.00	61.66	377	2,164
SLRC	SLR Inv Corp	SLR Capital	1.16	-11.40	10.19	0.00	41.53	991	3,193
TCPC	BR TCP Capital Corp	BlackRock	0.84	-16.78	13.09	0.00	58.25	781	4,645
TPVG	TP Vntr Gwth BDC Corp	TriplePoint Capital	0.36	-19.14	17.22	0.00	51.49	347	2,147
TRIN	Trinity Capital	Trinity Capital	1.23	9.89	14.23	0.00	51.63	844	9,863
TSLX	Sixth St Splty Lending	Sixth St Splty Lending	2.89	39.50	7.74	0.00	52.73	1,601	13,092
WHF	WhiteHorse Finance	H.I.G. Capital	0.27	-27.83	17.62	0.00	53.20	281	838

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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