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07. Taxable Bond & BDC Index

Data as of 04/13/2021 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	1,434.51	0.14	0.68	3.15	6.46	16.82	36.65	8.97	9.64	1.81	1.81	6.06
NAV	1,347.83	0.12	0.15	1.23	1.71	8.75	25.39	6.57	7.80	1.11	1.11	1.90
Difference		-0.02	-0.54	-1.92	-4.75	-8.07	-11.26	-2.41	-1.83	-0.69	-0.69	-4.16
* 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	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NAV	0.84	0.29	-0.35	0.78	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Difference	0.44	-1.32	-2.47	-3.40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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 0.27%	1Yr Disc -4.69%	3Yr Disc -3.60%	5Yr Disc -3.46%	Rel Disc Range (3yr) 80.27%
Mkt Yield 7.52%	Lev Adj NAV Yield 5.84%	After Tax Yield* 6.02%	Est Tax Friction* 1.50%	3Yr NAV Volatiliy 10.24
1 Yr RoC 27.03%	3 Yr Dest RoC 10.73%	Leverage 30.42%	Non Lev Exp Ratio 1.50%	Beta (2yr) 0.52
Equity Exposure 3.74%	Bond Exposure 91.18%	# Holdings 87	Cash Weighted Duration 4.43
Comp NAV TR -0.29%	Comp Discount 1.00%	Net Assets (M) 881	Liquidity - 90d (K) 3,441
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

87 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
BBN	BR Taxable Muni BndTr	BlackRock	3.77	0.16	5.71	4.55	32.77	1,414	4,799
GBAB	Gghm Taxable Muni Bnd & Inv Grd Dbt	Guggenheim Funds	3.82	4.32	6.38	10.23	41.57	461	1,686
CHY	Calamos Convt & Hi Incm Fd	Calamos	1.61	-2.64	7.56	0.00	32.03	1,195	4,540
CHI	Calamos Convt Opp & Incm	Calamos	1.62	-1.36	7.48	0.00	32.00	1,096	4,447
NCZ	Virtus AG Convt & Incm Fd II	Virtus	1.58	-9.79	8.72	32.67	38.10	435	2,482
NCV	Virtus AG Convt & Incm Fd	Virtus	1.57	-8.78	8.76	29.87	37.61	577	2,746
CCD	Calamos Dyn Convt & Incm Fd	Calamos	1.55	3.38	7.14	0.00	30.91	776	3,310
EMD	WA Emrg Mkt Dbt Fd	Franklin Templeton	2.62	-5.85	7.89	31.48	28.00	883	2,636
EDD	MS Emrg Mkt Dom Dbt	Morgan Stanley	2.52	-11.21	6.31	0.00	24.73	448	1,481
TEI	Tmp Emrg Mkt Incm Fd	Franklin Templeton	2.59	-10.41	11.84	25.42	0.00	406	1,259
FAX	Abd Asia-Pacific Incm Fd	Aberdeen	1.58	-8.17	7.73	61.85	28.92	1,152	4,601
GIM	Tmp Glbl Incm Fd	Franklin Templeton	1.55	-7.81	8.33	64.91	0.00	790	2,406
MIN	MFS Imd Incm Tr	MFS	1.49	-3.17	8.85	53.81	0.00	439	1,843
PPT	Putnam Prmr Incm Tr	Putnam	1.48	-3.65	6.57	44.17	0.00	504	1,364
RCS	PIMCO Stgc Incm Fd	PIMCO	1.54	13.76	8.23	0.00	22.66	290	1,089
DHY	CS Hi Yld Bnd Fd	Credit Suisse	0.54	-6.20	7.69	0.00	28.03	267	7,073
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	0.55	-5.76	8.30	0.00	28.74	240	6,519
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	0.55	-2.01	7.89	0.00	25.64	183	4,102
HYT	BR Corp Hi Yld Fd	BlackRock	0.55	-1.98	7.88	15.00	29.55	1,476	4,379
DLY	DbLin Yld Opp Fd	Doubleline	0.55	-3.82	7.13	10.56	20.01	1,212	2,612
FTHY	FT Hi Yld Opp 2027 Trm Fd	First Trust	0.54	-6.03	7.19	0.00	28.15	779	2,420
DSU	BR Dbt Stgs Fd	BlackRock	0.54	-5.21	6.54	24.44	30.17	546	1,868
HIO	WA Hi Incm Opp Fd	Franklin Templeton	0.55	-5.50	6.99	12.08	0.00	518	1,365
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.55	-8.11	8.29	4.33	27.40	676	1,790
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.55	-6.84	7.90	10.51	24.11	569	1,604
EAD	WF Incm Opp Fd	Wells Fargo	0.55	-5.62	7.82	1.59	26.20	550	1,524
KIO	KKR Incm Opp Fd	KKR Credit	0.54	-5.04	7.96	1.36	36.53	339	1,297
SDHY	PGIM Srt Dur Hi Yld Opp Fd	Prudential	0.54	-4.04	6.74	0.00	12.60	494	1,242
JHB	Nuv Corp Incm Nov 2021 Tgt Trm	Nuveen	0.54	-0.74	2.61	0.00	0.00	531	1,391
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	2.59	31.47	8.37	4.79	41.26	1,248	6,755
PCN	PIMCO Corp & Incm Stgy Fd	PIMCO	2.58	22.94	7.66	0.41	32.67	586	1,353
GDO	WA Glbl Corp Dfin Opp Fd	Franklin Templeton	2.55	-4.11	6.83	11.85	27.79	276	680
EVV	EV Ltd Dur Incm Fd	Eaton Vance	2.52	-6.87	9.52	31.41	34.10	1,573	4,720
BLW	BR Ltd Dur Incm Tr	BlackRock	2.55	-0.94	6.95	18.28	32.91	610	1,625
FTF	FrkTmp Ltd Dur Incm Tr	Franklin Templeton	2.51	-2.34	10.34	40.10	31.75	283	1,096
JFR	Nuv Flt Rt Incm Fd	Nuveen	0.64	-6.46	7.18	0.00	35.56	590	6,064
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.66	-4.54	11.38	65.47	35.91	956	5,208
NSL	Nuv Sr Incm Fd	Nuveen	0.64	-7.38	7.22	0.00	35.52	236	5,142
JRO	Nuv Flt Rt Incm Opp Fd	Nuveen	0.64	-6.82	7.21	0.00	35.55	416	3,167
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	0.63	-7.06	6.14	29.70	29.80	494	2,612
VTA	Invsc Dyn Cr Opp Fd	Invesco	0.63	-5.37	7.86	16.98	28.00	762	2,497
VVR	Invsc Sr Incm Tr	Invesco	0.63	-7.64	5.96	19.93	28.00	701	2,221
FCT	FT Sr Flt Rt Incm Fd II	First Trust	0.63	-3.15	9.51	33.34	28.35	330	2,107
EFR	EV Sr Flt-Rt Tr	Eaton Vance	0.64	-2.30	5.56	0.00	38.40	529	1,757
PPR	Voya Prime Rt Tr	Voya	0.63	-6.07	2.84	0.58	3.60	600	1,856
BGB	Blackstone Stgc Cr Fd	Blackstone	0.63	-8.62	6.38	0.00	36.09	653	1,702
EFT	EV Flt-Rt Incm Tr	Eaton Vance	0.63	-2.74	5.16	0.00	37.90	581	1,628
OPP	RiverNorth DbLin Stgc Opp Fd	RiverNorth	3.83	-0.26	12.44	50.94	30.20	213	1,694
BKT	BR Incm Tr	BlackRock	3.79	0.00	6.73	23.56	26.44	391	1,410
PCI	PIMCO Dyn Cr & Mortg Incm	PIMCO	0.71	13.02	9.15	1.38	43.61	3,039	12,083
PDI	PIMCO Dyn Incm Fd	PIMCO	0.71	17.99	9.11	0.00	40.09	1,711	9,779
DSL	DbLin Incm Solutions Fd	Doubleline	0.69	-1.04	7.27	5.87	27.42	1,870	6,669
RA	Brkf Real Ast Incm Fd	Brookfield	0.72	8.24	11.01	58.06	28.45	879	7,790
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.72	28.36	9.96	60.03	30.48	848	6,573
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	0.71	3.10	6.90	0.00	9.47	2,164	4,614
BTZ	BR Cr Alloc Incm Tr	BlackRock	0.69	-4.68	6.86	19.10	29.41	1,439	3,134
PHK	PIMCO Hi Incm Fd	PIMCO	0.70	14.94	8.51	0.00	34.15	786	3,047
HFRO	Highland Incm Fd	Highland Capital	0.70	-17.40	8.21	4.34	26.60	972	2,888
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.70	10.81	9.28	3.17	33.31	708	2,655
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	0.69	-6.93	6.57	0.00	40.87	1,108	2,216
JPS	Nuv Pref & Incm Sec Fd	Nuveen	0.96	-0.31	6.20	0.00	36.20	1,997	4,516
JPC	Nuv Pref & Incm Opp Fd	Nuveen	0.96	-2.55	6.66	0.00	36.16	1,013	3,247
FPF	FT Imd Dur Pref & Incm Fd	First Trust	0.96	-1.06	6.32	6.70	30.71	1,486	2,996
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	0.95	11.84	6.61	0.00	32.80	936	2,043
PDT	JH Prm Div Fd	John Hancock	0.96	4.68	7.70	0.00	34.91	707	2,362
PTA	Tx-Adv Pref Sec Pref Sec & Incm Fd	Cohen & Steers	0.95	-2.61	6.23	34.46	32.70	1,286	2,317
HPI	JH Pref Incm Fd	John Hancock	0.94	1.58	7.19	2.38	32.26	532	1,734
HPF	JH Pref Incm Fd II	John Hancock	0.97	6.95	6.93	6.31	32.56	427	1,691
WIW	WA Inf-Lnk Opp & Incm Fd	Franklin Templeton	7.63	-11.15	3.23	48.83	31.40	845	1,503
ARCC	Ares Capital Corp	Ares	0.43	13.55	8.30	0.00	52.43	7,176	43,760
PSEC	Prospect Capital Corp	Prospect Capital	0.44	-11.16	9.05	0.00	37.39	3,456	24,158
ORCC	Owl Rock Capital Corp	Owl Rock	0.43	-4.34	8.79	0.00	46.82	5,769	17,508
MAIN	Main Street Cap Corp	Main Street Capital	0.45	86.76	5.89	0.00	43.64	1,519	15,811
FSKR	FS KKR Capital Corp. II	FS/KKR	0.45	-19.12	10.84	0.00	46.51	4,265	11,368
FSK	FS KKR Capital Corp	FS/KKR	0.45	-17.55	11.63	0.00	55.85	3,096	11,305
HTGC	Hercules Capital	Hercules	0.44	50.09	7.57	0.00	49.03	1,300	11,536
TSLX	Sixth St Splty Lending	Sixth St Splty Lending	0.47	29.60	7.37	0.00	47.48	1,165	10,687
GBDC	Golub Capital BDC	Golub Capital	0.44	5.14	7.56	0.00	48.57	2,442	8,715
GSBD	Goldman Sachs BDC	Goldman Sachs	0.42	21.87	9.28	0.00	49.12	1,616	7,548
AINV	Apollo Inv Corp	Apollo	0.45	-9.04	8.74	0.00	58.80	1,017	5,812
NMFC	New Mountain Fin Corp	New Mountain Capital	0.44	2.61	9.27	0.00	58.58	1,222	5,967
NEWT	Newtek Biz Serv Corp	Newtek	0.43	77.86	7.28	0.00	53.72	339	4,298
TCPC	BR TCP Capital Corp	BlackRock	0.44	9.06	8.31	0.00	51.22	765	4,608
OCSL	Oaktree Splty Lending	Oaktree Capital	0.45	-3.65	7.27	0.00	38.73	1,235	5,259
BCSF	Bain Cap Splty Fin	BCSF Advisors	0.45	-5.20	8.67	0.00	56.02	1,068	4,033
CSWC	Cap Southwest Corp	Capital Southwest	0.45	52.16	8.68	0.00	54.01	313	4,278
BBDC	Barings BDC	Barings	0.43	-6.46	7.39	0.00	56.29	718	3,508

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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