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02. High Income Index

Data as of

About the Index

50% Equity focused income funds and 50% Bond/BDC focused income funds: (1) Funds need to have 90-day average trading dollar ($) liquidity over $500K. (2) Taxable Bond + Preferred Equity groupings according to CEFdata.com, ranked by top 35% current market price yield (40% of the index weighting), (3) Debt-Focused Business Development Companies (BDCs), top 35% ranked by current market price yield (10% of the index weighting). (4) US Equity, Non-US Equity, Specialty Equity and Hybrid/Balanced Funds groupings in CEFData.com with funds only included if they pay monthly or quarterly distributions without a large year-end distribution in both of the past two calendar years. This selection is then ranked by top 35% of funds by current market price yield (50% of index weighting) The index constituents will be rebalanced each quarter.

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 1,468.74 0.20 0.61 6.00 6.89 17.07 21.48 3.06 4.09 4.04 3.78 2.33 10.26
NAV 1,410.96 0.05 0.66 3.95 4.75 12.19 15.62 3.02 3.79 3.91 2.62 1.13 5.58
Difference -0.16 0.06 -2.06 -2.14 -4.89 -5.86 -0.04 -0.30 -0.13 -1.16 -1.20 -4.68
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
2024 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 2.33 1.82 3.41 7.74 -1.39 - - - - - - - - - - - - - -
NAV 0.18 1.80 2.37 4.40 -1.46 - - - - - - - - - - - - - -
Difference -2.15 -0.01 -1.04 -3.34 -0.06 - - - - - - - - - - - - - -
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 11.21 -1.88 -2.64 6.23 0.60 -1.70 5.17 3.99 10.47 4.35 -1.65 -4.70 -2.20 -4.96 8.41 4.36 7.53 5.17 16.18
NAV 6.02 -2.12 0.39 4.18 1.07 -1.26 3.16 2.95 7.25 2.53 -1.00 -3.04 -1.58 -2.06 5.82 4.19 7.98 6.28 13.99
Difference -5.19 -0.24 3.04 -2.05 0.47 0.44 -2.01 -1.05 -3.22 -1.82 0.65 1.66 0.62 2.90 -2.59 -0.17 0.45 1.11 -2.19
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -1.69 -2.49 1.60 -2.60 -6.25 -1.07 -7.60 -14.30 -16.53 8.50 -1.58 -13.08 -7.19 6.10 5.91 -6.75 4.79 -2.74 -18.82
NAV -2.02 -1.17 1.02 -2.18 -4.70 -0.80 -6.64 -11.75 -13.67 5.69 -2.40 -6.68 -3.74 3.13 4.52 -3.17 4.38 0.47 -13.27
Difference -0.33 1.31 -0.58 0.42 1.55 0.27 0.96 2.55 2.85 -2.81 -0.81 6.39 3.45 -2.98 -1.38 3.58 -0.41 3.22 5.55
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 3.07 5.52 4.49 13.65 4.37 2.56 1.93 9.10 24.00 0.24 1.82 -2.85 -0.85 3.98 -2.28 0.60 2.22 1.36 25.68
NAV 1.27 2.22 2.25 5.85 2.91 1.88 1.09 5.98 12.19 0.39 1.40 -1.62 0.15 2.28 -2.07 2.10 2.26 2.41 14.89
Difference -1.80 -3.30 -2.24 -7.79 -1.46 -0.68 -0.84 -3.12 -11.81 0.15 -0.42 1.24 1.00 -1.70 0.20 1.49 0.04 1.05 -10.78
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price -0.12 -10.78 -34.96 -42.04 21.51 6.53 -1.22 27.86 -25.90 2.19 3.50 -3.28 2.30 -1.47 16.90 3.83 19.59 22.34 -9.34
NAV -1.37 -6.57 -26.08 -31.89 15.62 4.34 0.44 21.17 -17.46 3.59 2.39 -2.11 3.83 0.35 9.24 3.67 13.64 18.00 -2.61
Difference -1.25 4.21 8.88 10.15 -5.89 -2.19 1.67 -6.68 8.43 1.40 -1.11 1.17 1.53 1.82 -7.66 -0.16 -5.95 -4.34 6.73
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 14.98 1.62 1.73 18.85 1.82 -3.40 4.02 2.32 21.61 1.41 -4.11 1.96 -0.84 -0.62 -0.23 3.79 2.91 2.04 24.09
NAV 8.73 1.35 2.01 12.41 1.06 -2.34 3.08 1.74 14.37 -0.10 -2.38 1.20 -1.31 -0.50 -0.41 4.02 3.08 1.73 16.35
Difference -6.25 -0.27 0.29 -6.44 -0.76 1.06 -0.94 -0.58 -7.24 -1.51 1.73 -0.76 -0.46 0.13 -0.18 0.22 0.17 -0.31 -7.74
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 2.43 -4.30 -1.81 -3.75 4.21 2.23 -0.35 6.15 2.17 3.05 1.41 -1.22 3.23 -8.13 0.45 -10.41 -17.31 -14.65 -12.79
NAV 2.81 -4.45 -1.76 -3.49 2.81 1.96 -0.13 4.68 1.03 3.05 0.68 -0.29 3.45 -4.66 0.10 -6.62 -10.89 -7.82 -6.87
Difference 0.38 -0.15 0.06 0.26 -1.40 -0.27 0.22 -1.47 -1.15 0.00 -0.73 0.93 0.22 3.46 -0.36 3.79 6.42 6.83 5.92
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.65 3.04 0.58 8.46 2.68 0.61 0.13 3.45 12.20 2.40 -1.83 2.40 2.94 -2.28 -1.67 3.21 -0.82 2.09 14.55
NAV 2.10 1.90 0.21 4.26 1.12 0.50 0.50 2.14 6.49 1.77 -0.59 1.45 2.64 -0.47 0.18 2.31 2.01 4.70 11.49
Difference -2.55 -1.14 -0.37 -4.20 -1.56 -0.11 0.37 -1.31 -5.71 -0.63 1.24 -0.95 -0.31 1.81 1.84 -0.90 2.83 2.60 -3.06
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -7.98 0.29 10.04 1.55 8.55 1.42 3.32 13.75 15.52 4.99 2.08 0.57 7.78 -2.49 1.07 1.81 0.34 8.15 24.93
NAV -7.03 -0.67 7.13 -1.07 7.12 1.92 2.50 11.91 10.70 2.84 1.52 1.73 6.21 -1.07 0.64 2.00 1.55 7.86 19.40
Difference 0.95 -0.97 -2.91 -2.63 -1.42 0.50 -0.82 -1.84 -4.81 -2.15 -0.56 1.17 -1.58 1.41 -0.42 0.19 1.21 -0.29 -5.53
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 0.75 4.19 -1.61 3.28 2.55 -0.88 -4.38 -2.80 0.39 -3.34 -4.33 -5.75 -12.84 8.36 -3.53 -4.80 -0.49 -13.27 -12.93
NAV -0.18 3.07 -1.02 1.84 2.60 0.15 -2.12 0.58 2.43 -1.11 -3.79 -4.14 -8.80 5.62 -3.04 -5.73 -3.46 -11.95 -9.81
Difference -0.93 -1.12 0.59 -1.44 0.05 1.02 2.26 3.37 2.04 2.23 0.54 1.61 4.04 -2.73 0.49 -0.92 -2.96 1.32 3.12
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price 0.42 3.75 0.23 4.43 1.61 2.44 2.06 6.25 10.96 -2.33 2.44 -4.27 -4.23 -0.06 -0.64 -5.93 -6.59 -10.54 -0.73
NAV -0.08 2.99 0.70 3.63 1.19 1.52 1.74 4.51 8.30 -1.13 1.83 -2.90 -2.24 -0.23 -0.83 -3.06 -4.08 -6.23 1.55
Difference -0.50 -0.76 0.46 -0.81 -0.43 -0.93 -0.33 -1.74 -2.66 1.21 -0.61 1.37 1.99 -0.17 -0.18 2.87 2.51 4.31 2.29
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 6.78 0.51 1.72 9.18 1.21 -1.76 -2.39 -2.96 5.95 1.14 -2.83 2.55 0.78 3.01 -1.11 1.19 3.08 3.89 10.07
NAV 3.64 -0.09 1.47 5.07 1.72 -0.41 -2.71 -1.44 3.55 2.71 -1.44 2.68 3.95 2.35 0.35 0.62 3.34 7.42 11.23
Difference -3.14 -0.61 -0.25 -4.11 0.51 1.36 -0.32 1.51 -2.40 1.58 1.39 0.13 3.16 -0.66 1.46 -0.57 0.26 3.53 1.16
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 8.54 3.57 -0.37 12.00 0.07 -5.11 3.45 -1.77 10.01 3.19 2.80 2.50 8.74 -1.57 -1.65 0.06 -3.13 5.34 15.88
NAV 4.29 3.06 0.38 7.88 0.15 -4.81 2.86 -1.93 5.80 2.07 1.88 2.38 6.46 0.17 0.21 1.42 1.81 8.39 14.68
Difference -4.25 -0.52 0.75 -4.11 0.08 0.31 -0.59 -0.16 -4.21 -1.13 -0.92 -0.12 -2.28 1.74 1.86 1.36 4.94 3.06 -1.20

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-3.47%
1Yr Disc
-5.78%
3Yr Disc
-3.47%
5Yr Disc
-4.00%
Rel Disc Range (3yr)
48.12%
Mkt Yield
12.19%
Lev Adj NAV Yield
9.53%
After Tax Yield*
10.26%
Est Tax Friction*
1.93%
3Yr NAV Volatiliy
12.56
1 Yr RoC
48.48%
3 Yr Dest RoC
33.22%
Leverage
25.66%
Non Lev Exp Ratio
2.52%
Beta (2yr)
0.65
Equity Exposure
46.57%
Bond Exposure
50.29%
# Holdings
90
Cash Weighted Duration
1.14
Comp NAV TR
-0.26%
Comp Discount
1.18%
Net Assets (M)
658
Liquidity - 90d (K)
2,721
* 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


90 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
OXLC Oxford Lane Cap Corp Oxford Lane 1.11 9.80 17.84 0.00 31.30 1,016 11,270
ACP abrdn Incm Cr Stgs Fd abrdn 1.07 1.76 17.29 38.91 28.72 355 2,270
OCCI OFS Credit Company OFS Capital 1.11 3.27 16.62 0.00 34.31 117 1,017
ECC Eagle Point Cr Co Eagle Point 1.06 13.57 16.45 0.00 22.90 797 6,971
CCIF Carlyle Cr Incm Fd Carlyle Glbl Cr Inv Mgmt 1.07 2.81 15.63 1.32 34.00 97 629
FCO abrdn Glbl Incm Fd abrdn 1.15 55.58 14.02 70.11 30.44 52 440
GOF Gghm Stgc Opp Fd Guggenheim Funds 1.05 20.79 15.16 60.57 19.68 1,680 10,065
EIC Eagle Point Incm Co Eagle Point 1.02 6.57 14.81 0.00 32.21 210 2,070
XFLT XAI Octgn Flt Rt & Alt Incm Tr XA Investments 1.05 2.02 14.41 5.79 38.17 406 2,906
BRW Saba Cap Incm & Opp Fd Saba Capital 1.03 -8.35 14.09 79.47 20.98 336 1,112
OPP RiverNorth DbLin Stgc Opp Fd RiverNorth 1.03 -9.15 14.09 60.65 35.30 216 745
PDI PIMCO Dyn Incm Fd PIMCO 1.05 12.90 13.80 25.25 39.54 5,226 27,186
NHS NB Hi Yld Stgs Fd Neuberger Berman 1.03 1.02 13.66 46.98 29.00 204 736
EDF Virtus SH Emrg Mkt Incm Fd Virtus 1.03 13.29 13.41 21.12 24.70 137 799
HIX WA Hi Incm Fd II Franklin Templeton 1.03 -4.58 13.42 25.49 25.59 413 1,905
DMO WA Mortg Opp Fd Franklin Templeton 1.05 -4.20 12.89 9.96 44.18 138 635
NCV Virtus Convt & Incm Fd Virtus 1.01 -12.43 12.59 88.85 36.95 334 1,752
FSCO FS Cr Opp Corp FS/KKR 1.08 -13.34 11.67 0.00 33.41 1,412 4,009
VVR Invsc Sr Incm Tr Invesco 1.06 8.42 11.78 16.70 31.36 619 2,867
NCZ Virtus Convt & Incm Fd II Virtus 1.01 -12.16 12.46 89.58 37.88 250 1,096
WDI WA Divr Incm Fd Franklin Templeton 1.07 -5.68 11.64 0.00 31.30 812 3,294
FAX abrdn Asia-Pacific Incm Fd abrdn 0.96 -13.67 12.74 46.38 31.25 743 2,026
AVK Advent Convt & Incm Fd Guggenheim Funds 1.05 -2.59 11.70 71.43 42.88 427 1,295
FTF FrkTmp Ltd Dur Incm Tr Franklin Templeton 1.05 -10.59 11.66 0.00 31.74 286 1,059
JFR Nuv Flt Rt Incm Fd Nuveen 1.05 -5.91 11.64 2.00 37.87 1,248 4,752
PHK PIMCO Hi Incm Fd PIMCO 1.01 3.48 12.10 12.75 20.32 720 2,309
PDO PIMCO Dyn Incm Opp Fd PIMCO 1.05 3.70 11.66 20.59 41.03 1,453 5,339
JQC Nuv Cr Stgs Incm Fd Nuveen 1.05 -5.25 11.59 3.20 38.03 800 3,198
MSD MS Emrg Mkt Dbt Fd Morgan Stanley 1.05 -8.81 11.76 0.00 0.00 158 447
AIF Apollo Tactical Incm Fd Apollo 1.07 -0.87 11.69 0.00 36.04 216 1,972
PFN PIMCO Incm Stgy Fd II PIMCO 1.03 4.85 11.72 20.70 20.89 606 2,021
AFT Apollo Sr Flt Rt Fd Apollo 1.09 -0.73 11.21 0.00 35.65 235 1,359
PFL PIMCO Incm Stgy Fd PIMCO 1.03 5.03 11.70 15.72 19.63 317 855
EVF EV Sr Incm Tr Eaton Vance 1.05 3.54 11.38 0.55 35.50 98 492
FRA BR Flt Rt Incm Stgc Fd BlackRock 1.07 0.76 11.21 10.18 21.38 464 1,953
PHD Pioneer Flt Rt Fd Amundi Asset Mgmt 1.05 -5.21 11.30 0.00 31.90 128 588
PAXS PIMCO Access Incm Fd PIMCO 1.06 5.31 11.29 19.67 42.48 664 2,719
FCT FT Sr Flt Rt Incm Fd II First Trust 1.07 -4.26 11.03 8.57 14.07 286 1,140
TPVG TP Vntr Gwth BDC Corp TriplePoint Capital 0.61 4.21 17.02 0.00 55.21 341 3,310
ICMB Investcorp Cr Mgmt BDC Investcorp 0.67 -40.98 14.81 0.00 58.34 79 108
PTMN Portman Ridge Fin Corpn Sierra Crest Inv Mgmt 0.68 -9.22 13.47 0.00 54.77 210 922
TRIN Trinity Capital Trinity Capital 0.64 15.92 13.66 0.00 51.73 637 7,136
MRCC Monroe Capital Corp Monroe Capital 0.63 -20.65 13.55 0.00 60.99 201 489
OFS OFS Capital Corp OFS Capital 0.61 -10.02 13.64 0.00 62.39 148 461
FSK FS KKR Capital Corp FS/KKR 0.67 -17.64 12.78 0.00 52.59 6,811 33,445
OXSQ Oxford Square Cap Corp Oxford Lane 0.61 30.17 13.33 0.00 44.73 145 663
RWAY Runway Gwth Fin Corp Runway Gwth Cap 0.59 -12.28 13.65 0.00 46.16 527 4,695
PSEC Prospect Capital Corp Prospect Capital 0.63 -37.04 12.72 0.00 51.14 3,756 10,507
TCPC BR TCP Capital Corp BlackRock 0.63 -3.23 12.62 0.00 57.21 953 5,656
GECC Great Elm Cap Corp Great Elm Capital 0.57 -17.98 13.58 0.00 52.12 119 182
SAR Saratoga Inv Corp Saratoga 0.62 -13.68 12.47 0.00 66.71 372 1,528
WHF WhiteHorse Finance H.I.G. Capital 0.66 -3.11 11.77 0.00 53.10 314 1,174
CION CION Inv Corp CION Inv Mgmt 0.69 -22.37 11.56 0.00 59.44 860 3,802
SCM Stellus Cap Inv Corp Stellus Capital 0.67 5.52 11.30 0.00 64.27 324 1,661
CLM Cornerstone Stgc Val Fd Cornerstone 1.38 7.73 17.31 46.16 0.00 1,667 10,645
NXG NXG NextGen Infra Incm Fd Cushing 1.47 -7.49 15.62 52.38 26.17 117 1,076
CRF Cornerstone Tot Rtn Fd Cornerstone 1.39 13.00 16.46 41.50 0.00 749 5,248
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 1.33 -7.98 13.87 37.85 29.35 789 2,733
SRV NXG Cushing Midstream Nrg Fd Cushing 1.41 -0.26 12.78 93.00 25.86 123 1,414
NMAI Nuv Multi-Asset Incm Fd Nuveen 1.41 -10.91 12.81 53.25 25.11 469 787
RIV RiverNorth Opp Fd RiverNorth 1.37 -3.29 12.84 79.13 31.99 267 910
HGLB Highland Glbl Alloc Fd NexPoint 1.34 -35.32 12.98 0.00 3.11 262 565
AWP abrdn Glbl Prmr Prop Fd abrdn 1.34 -3.96 12.37 74.22 16.86 345 1,013
MEGI MainStay CBRE Glbl Infra MTrnd Trm New York Life 1.47 -12.94 11.14 17.24 25.00 805 1,849
HQL abrdn Life Sci Invstr abrdn 1.40 -12.53 13.62 29.32 0.00 432 1,206
HQH abrdn Health Invstr abrdn 1.40 -11.98 13.55 26.02 0.00 978 2,723
GLO Clough Glbl Opp Fd Clough 1.38 -18.05 11.23 99.91 27.92 268 767
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 1.34 -5.23 11.48 41.08 22.99 163 518
CPZ Calamos Lng-Srt Eq & Dyn Incm Calamos 1.38 -14.33 10.81 19.88 25.46 356 874
GUT Gabelli Util Tr Gabelli 1.47 98.33 10.08 92.17 24.00 225 859
ZTR Virtus Tot Rtn Fd Virtus 1.35 -14.64 10.95 92.62 30.17 396 1,772
THQ abrdn Health Opp Fd abrdn 1.40 -6.65 10.54 40.03 19.60 908 3,319
THW abrdn Wld Health Fd abrdn 1.35 3.51 10.78 34.30 20.10 478 1,291
ECAT BR ESG Cap Alloc Trm Tr BlackRock 1.32 -10.67 10.75 82.52 0.00 1,909 3,469
NBXG NB Nxt Gen Connectivity Fd Neuberger Berman 1.41 -15.08 9.91 100.00 0.00 1,123 3,053
ASGI abrdn Glbl Infra Incm Fd abrdn 1.46 -11.66 12.66 9.88 0.00 541 1,449
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 1.35 -14.16 10.36 38.36 29.11 370 893
GUG Gghm Active Alloc Fd Guggenheim Funds 1.39 -9.27 9.52 39.04 21.71 544 1,224
USA Liberty All-Star Eq Fd ALPS 1.29 -3.00 10.59 0.00 0.00 1,960 4,910
NML NB Nrg Infra & Incm Fd Neuberger Berman 1.43 -12.37 9.08 100.00 17.45 499 1,928
GGN GAMCO Glbl Gd NtrRes Incm Gabelli 1.47 -1.19 8.70 85.67 11.00 646 1,855
CHW Calamos Glbl Dyn Incm Fd Calamos 1.40 -12.04 9.02 45.81 31.42 483 1,374
TYG Tortoise Nrg Infra Corp Tortoise 1.51 -17.27 8.27 42.07 21.50 447 1,637
BCAT BR Cap Alloc Trm Tr BlackRock 1.30 -11.19 9.69 73.17 0.00 1,911 4,733
TEAF Ecofin Susble & Soc Impact Trm Tortoise 1.38 -20.95 9.06 66.51 5.10 203 375
JCE Nuv Core Eq Alpha Fd Nuveen 1.41 -1.72 8.94 85.68 0.00 235 675
IGD Voya Glbl Eq Div & Prm Opp Voya 1.35 -12.92 11.56 64.51 0.00 470 1,143
EOD Allspring Glbl Div Opp Fd Allspring 1.39 -13.80 8.98 0.00 17.83 241 616
AIO Virtus AI & Tech Opp Fd Virtus 1.36 -8.30 9.05 68.94 14.81 745 2,388
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 1.29 -10.65 9.48 58.64 34.60 261 940

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.

© Closed-End Fund Advisors Inc.(CEFadvisors) and CEFdata.com 2019. All rights reserved. Any copying, republication or redistribution of CEFadvisors, CEFdata.com, content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of CEFAdvisors. CEFAdvisors shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Class E Units       8% PIK             8.00 %   11/6/2021     4,055,099       4,055,099       4,055,099       2.32 %