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07. Taxable Bond & BDC Index

Data as of 06/18/2021 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	1,482.95	-0.37	-1.26	2.08	7.17	10.55	27.49	10.08	9.59	-0.01	5.25	9.64
NAV	1,374.90	0.04	-0.53	1.69	3.70	4.64	17.98	7.51	7.70	0.38	3.14	3.95
Difference		0.41	0.73	-0.39	-3.47	-5.91	-9.51	-2.56	-1.89	0.39	-2.10	-5.70
* 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	0.40	1.61	2.12	4.18	2.87	2.32	-	-	-	-	-	-	-	-	-	-	-	-	-
NAV	0.84	0.29	-0.35	0.78	1.78	0.96	-	-	-	-	-	-	-	-	-	-	-	-	-
Difference	0.44	-1.32	-2.47	-3.40	-1.09	-1.36	-	-	-	-	-	-	-	-	-	-	-	-	-
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	1.75	-6.93	-19.29	-23.58	8.18	6.27	1.77	16.99	-10.59	4.10	1.74	-1.74	4.07	-0.92	9.86	3.17	12.30	16.87	4.49
NAV	1.23	-1.20	-16.32	-16.31	5.10	3.68	2.77	11.99	-6.28	3.65	1.99	-0.55	5.13	0.17	5.17	2.60	8.08	13.62	6.49
Difference	-0.52	5.73	2.97	7.26	-3.08	-2.58	1.00	-5.00	4.31	-0.45	0.25	1.18	1.06	1.09	-4.69	-0.57	-4.22	-3.24	2.00
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	8.77	2.17	0.80	12.02	1.75	-0.72	3.21	4.25	16.79	1.93	-0.77	1.29	2.45	0.96	0.78	2.23	4.02	6.57	24.46
NAV	4.22	1.21	0.93	6.46	1.28	-0.10	2.30	3.51	10.19	1.00	-0.28	0.38	1.10	0.59	0.29	1.98	2.88	4.01	14.62
Difference	-4.55	-0.96	0.13	-5.57	-0.46	0.63	-0.91	-0.74	-6.59	-0.93	0.49	-0.91	-1.36	-0.37	-0.49	-0.24	-1.13	-2.56	-9.85
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	-0.16	-1.29	0.62	-0.84	0.80	0.31	-0.15	0.96	0.11	1.98	0.88	-0.82	2.03	-5.03	-0.47	-2.97	-8.28	-6.42	-6.32
NAV	0.93	-0.88	0.15	0.19	0.04	-0.23	-0.10	-0.28	-0.09	1.34	-0.08	0.52	1.78	-1.64	-0.61	-1.48	-3.69	-1.98	-2.06
Difference	1.09	0.41	-0.46	1.04	-0.76	-0.54	0.05	-1.24	-0.19	-0.65	-0.96	1.34	-0.25	3.38	-0.13	1.48	4.59	4.45	4.26
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	2.86	2.17	-0.32	4.75	2.20	0.62	0.83	3.68	8.61	2.09	-0.63	0.97	2.44	-0.45	-1.08	1.33	-0.21	2.22	11.02
NAV	1.42	1.61	0.25	3.32	1.28	0.96	0.57	2.84	6.25	1.39	0.67	0.54	2.61	0.65	0.24	0.59	1.49	4.14	10.65
Difference	-1.43	-0.55	0.57	-1.43	-0.92	0.34	-0.25	-0.85	-2.36	-0.70	1.29	-0.43	0.18	1.09	1.32	-0.74	1.70	1.92	-0.37
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-1.47	0.44	6.33	5.23	2.79	0.55	2.43	5.86	11.39	4.38	1.82	-0.67	5.58	-1.82	-1.42	2.74	-0.57	4.97	16.93
NAV	-0.98	-0.69	3.41	1.69	2.45	0.54	1.27	4.31	6.07	2.61	1.17	0.85	4.70	0.16	-1.74	1.33	-0.27	4.42	10.77
Difference	0.50	-1.13	-2.92	-3.53	-0.34	-0.01	-1.16	-1.55	-5.32	-1.77	-0.65	1.52	-0.88	1.99	-0.31	-1.41	0.31	-0.55	-6.16
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	1.59	1.51	-0.71	2.39	1.77	-1.19	-3.77	-3.23	-0.92	-1.43	-2.33	-2.65	-6.29	4.69	-0.98	-0.73	2.90	-3.57	-4.46
NAV	1.08	1.14	-0.25	1.98	1.20	0.07	-1.28	-0.02	1.96	-0.15	-1.63	-1.73	-3.48	1.77	-0.48	-2.07	-0.82	-4.28	-2.40
Difference	-0.51	-0.37	0.46	-0.41	-0.57	1.26	2.50	3.21	2.88	1.28	0.70	0.92	2.80	-2.92	0.50	-1.34	-3.72	-0.71	2.06

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount 1.74%	1Yr Disc -3.40%	3Yr Disc -3.39%	5Yr Disc -3.29%	Rel Disc Range (3yr) 82.37%
Mkt Yield 7.35%	Lev Adj NAV Yield 5.77%	After Tax Yield* 5.88%	Est Tax Friction* 1.47%	3Yr NAV Volatiliy 10.24
1 Yr RoC 25.13%	3 Yr Dest RoC 8.65%	Leverage 30.55%	Non Lev Exp Ratio 1.50%	Beta (2yr) 0.56
Equity Exposure 3.86%	Bond Exposure 91.58%	# Holdings 86	Cash Weighted Duration 4.60
Comp NAV TR 0.13%	Comp Discount 1.54%	Net Assets (M) 885	Liquidity - 90d (K) 3,142
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

86 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
BBN	BR Taxable Muni BndTr	BlackRock	3.81	-0.16	5.52	4.50	31.63	1,489	3,734
GBAB	Gghm Taxable Muni Bnd & Inv Grd Dbt	Guggenheim Funds	3.89	6.43	6.12	15.06	30.18	480	1,272
CHY	Calamos Convt & Hi Incm Fd	Calamos	1.61	2.16	7.46	0.00	32.06	1,153	3,216
CHI	Calamos Convt Opp & Incm	Calamos	1.57	0.74	7.59	0.00	32.00	1,058	3,331
NCZ	Virtus AG Convt & Incm Fd II	Virtus	1.57	-8.10	8.62	35.71	39.12	432	2,151
NCV	Virtus AG Convt & Incm Fd	Virtus	1.57	-6.00	8.57	33.51	38.63	572	2,331
CCD	Calamos Dyn Convt & Incm Fd	Calamos	1.44	2.05	7.59	0.00	30.96	741	2,466
EMD	WA Emrg Mkt Dbt Fd	Franklin Templeton	2.62	-6.01	7.75	37.86	28.18	900	2,119
EDD	MS Emrg Mkt Dom Dbt	Morgan Stanley	2.53	-10.60	6.17	0.00	19.05	455	1,116
TEI	Tmp Emrg Mkt Incm Fd	Franklin Templeton	2.66	-6.75	9.09	14.33	0.00	406	2,060
FAX	Abd Asia-Pacific Incm Fd	Aberdeen	1.57	-7.45	7.59	54.38	29.56	1,164	3,101
GIM	Tmp Glbl Incm Fd	Franklin Templeton	1.55	-4.30	7.94	32.28	0.00	779	1,762
MIN	MFS Imd Incm Tr	MFS	1.47	-1.86	8.73	55.24	0.00	436	1,667
PPT	Putnam Prmr Incm Tr	Putnam	1.46	-0.41	6.50	42.43	0.00	493	1,222
RCS	PIMCO Stgc Incm Fd	PIMCO	1.55	16.69	8.03	1.83	41.61	290	836
DHY	CS Hi Yld Bnd Fd	Credit Suisse	0.55	-2.71	7.41	0.00	28.03	267	3,143
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	0.55	-3.31	8.04	0.00	28.59	241	2,560
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	0.55	0.00	7.74	0.00	25.64	183	3,148
HYT	BR Corp Hi Yld Fd	BlackRock	0.55	0.08	7.67	13.98	30.90	1,484	4,125
DLY	DbLin Yld Opp Fd	Doubleline	0.54	-3.33	7.09	0.95	20.75	979	2,167
FTHY	FT Hi Yld Opp 2027 Trm Fd	First Trust	0.53	-6.21	7.25	0.00	28.35	774	1,840
DSU	BR Dbt Stgs Fd	BlackRock	0.55	-2.31	6.36	22.97	31.23	545	1,401
HIO	WA Hi Incm Opp Fd	Franklin Templeton	0.55	-4.92	6.90	12.43	0.00	522	969
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.55	-6.81	8.08	4.42	27.40	685	1,999
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.55	-5.41	7.75	10.26	24.11	571	1,581
EAD	WF Incm Opp Fd	Wells Fargo	0.55	-5.54	7.96	0.00	26.10	557	1,370
KIO	KKR Incm Opp Fd	KKR Credit	0.55	-3.26	7.73	0.93	36.97	343	1,061
SDHY	PGIM Srt Dur Hi Yld Opp Fd	Prudential	0.51	-6.74	6.99	0.00	12.60	491	1,512
JHB	Nuv Corp Incm Nov 2021 Tgt Trm	Nuveen	0.53	-0.53	1.85	0.00	0.00	528	1,166
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	2.65	35.87	8.01	7.66	47.16	1,262	8,776
PCN	PIMCO Corp & Incm Stgy Fd	PIMCO	2.59	25.43	7.48	0.41	36.79	593	1,392
GDO	WA Glbl Corp Dfin Opp Fd	Franklin Templeton	2.57	-1.98	6.63	11.64	28.67	279	606
EVV	EV Ltd Dur Incm Fd	Eaton Vance	2.59	-3.39	9.16	34.00	33.29	1,575	5,379
BLW	BR Ltd Dur Incm Tr	BlackRock	2.52	0.29	6.88	15.22	34.18	608	1,463
FTF	FrkTmp Ltd Dur Incm Tr	Franklin Templeton	2.51	-1.18	10.13	44.47	33.16	282	1,288
JFR	Nuv Flt Rt Incm Fd	Nuveen	0.62	-7.19	7.19	0.44	36.11	594	3,133
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.64	-5.44	10.04	64.46	36.43	947	4,703
NSL	Nuv Sr Incm Fd	Nuveen	0.63	-6.84	7.13	0.91	36.00	237	2,600
JRO	Nuv Flt Rt Incm Opp Fd	Nuveen	0.62	-7.64	7.23	1.38	36.16	419	1,898
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	0.62	-6.29	6.11	22.84	29.11	493	1,919
VTA	Invsc Dyn Cr Opp Fd	Invesco	0.63	-5.16	7.77	29.96	28.00	770	2,018
VVR	Invsc Sr Incm Tr	Invesco	0.64	-6.26	5.81	17.67	28.00	709	2,822
FCT	FT Sr Flt Rt Incm Fd II	First Trust	0.65	0.63	9.20	38.87	29.33	328	2,064
EFR	EV Sr Flt-Rt Tr	Eaton Vance	0.63	-1.73	6.89	0.00	37.00	531	1,657
BRW	Saba Cap Incm & Opp Fd	Saba Capital	0.62	-5.47	1.72	1.38	0.00	600	1,720
BGB	Blackstone Stgc Cr Fd	Blackstone	0.63	-7.39	6.33	0.00	37.20	658	1,694
EFT	EV Flt-Rt Incm Tr	Eaton Vance	0.63	-1.91	6.48	0.00	36.70	583	1,632
OPP	RiverNorth DbLin Stgc Opp Fd	RiverNorth	3.84	1.70	12.25	54.08	28.60	212	1,921
BKT	BR Incm Tr	BlackRock	3.80	4.83	6.56	21.89	24.86	383	1,532
PCI	PIMCO Dyn Cr & Mortg Incm	PIMCO	0.68	8.99	9.36	2.15	45.00	3,091	11,644
PDI	PIMCO Dyn Incm Fd	PIMCO	0.69	14.51	9.21	0.00	45.14	1,748	8,412
DSL	DbLin Incm Solutions Fd	Doubleline	0.67	-1.68	7.29	2.02	28.05	1,879	4,528
RA	Brkf Real Ast Incm Fd	Brookfield	0.71	6.34	11.03	67.25	29.68	897	6,459
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.68	24.08	10.34	57.17	29.57	881	7,921
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	0.72	4.42	6.69	0.00	46.62	2,209	6,497
BTZ	BR Cr Alloc Incm Tr	BlackRock	0.69	-3.14	6.65	14.84	29.29	1,460	3,018
PHK	PIMCO Hi Incm Fd	PIMCO	0.69	15.84	8.47	0.00	38.61	785	2,973
HFRO	Highland Incm Fd	Highland Capital	0.65	-23.21	8.60	4.34	13.60	999	3,695
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.71	13.98	8.99	4.38	36.14	719	2,840
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	0.70	-5.68	6.40	0.00	30.16	1,123	1,993
JPS	Nuv Pref & Incm Sec Fd	Nuveen	0.94	-0.10	6.16	0.00	36.16	2,009	3,288
JPC	Nuv Pref & Incm Opp Fd	Nuveen	0.97	0.61	6.42	0.00	36.48	1,018	2,289
FPF	FT Imd Dur Pref & Incm Fd	First Trust	0.97	0.52	6.12	5.27	30.88	1,510	2,782
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	0.88	4.44	6.79	0.00	32.80	969	1,907
PDT	JH Prm Div Fd	John Hancock	1.04	14.85	6.97	4.74	34.09	711	1,942
PTA	Tx-Adv Pref Sec Pref Sec & Incm Fd	Cohen & Steers	0.93	-3.58	6.22	40.22	32.80	1,301	2,397
HPI	JH Pref Incm Fd	John Hancock	0.95	3.05	6.97	3.98	31.65	541	1,157
HPF	JH Pref Incm Fd II	John Hancock	0.95	4.57	6.96	7.63	31.93	435	1,436
WIW	WA Inf-Lnk Opp & Incm Fd	Franklin Templeton	7.83	-9.57	3.34	49.58	32.03	876	1,502
ARCC	Ares Capital Corp	Ares	0.41	8.88	8.42	0.00	49.97	7,632	38,857
PSEC	Prospect Capital Corp	Prospect Capital	0.46	-10.23	8.55	9.08	35.60	3,637	20,598
ORCC	Owl Rock Capital Corp	Owl Rock	0.43	-4.25	8.74	0.00	47.86	5,801	18,643
MAIN	Main Street Cap Corp	Main Street Capital	0.43	80.09	6.03	0.00	44.69	1,545	13,231
FSK	FS KKR Capital Corp	FS/KKR	0.92	-15.87	10.96	0.00	52.17	3,221	13,078
HTGC	Hercules Capital	Hercules	0.44	50.79	7.47	0.00	47.65	1,315	11,416
TSLX	Sixth St Splty Lending	Sixth St Splty Lending	0.45	31.09	7.60	0.00	44.28	1,196	8,042
GBDC	Golub Capital BDC	Golub Capital	0.42	2.22	7.64	1.39	45.30	2,500	8,443
GSBD	Goldman Sachs BDC	Goldman Sachs	0.43	24.19	9.06	0.00	48.42	1,627	8,718
AINV	Apollo Inv Corp	Apollo	0.41	-14.74	9.16	0.00	57.74	1,036	4,549
NMFC	New Mountain Fin Corp	New Mountain Capital	0.42	-0.31	9.37	8.15	56.62	1,244	4,916
NEWT	Newtek Biz Serv Corp	Newtek	0.51	106.33	8.34	0.00	50.70	366	6,280
TCPC	BR TCP Capital Corp	BlackRock	0.40	1.33	8.73	7.39	54.98	783	3,789
OCSL	Oaktree Splty Lending	Oaktree Capital	0.43	-7.05	7.89	0.00	45.61	1,279	6,341
BCSF	Bain Cap Splty Fin	BCSF Advisors	0.43	-7.55	8.81	0.00	53.86	1,078	2,643
CSWC	Cap Southwest Corp	Capital Southwest	0.45	53.72	8.61	0.00	51.84	336	3,651
BBDC	Barings BDC	Barings	0.43	-7.27	7.74	0.00	57.05	728	2,602

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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