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02. High Income 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	1,315.74	0.43	1.43	3.83	14.16	34.75	63.37	5.59	9.71	3.02	3.02	17.07
NAV	1,262.55	0.13	0.06	1.11	5.54	18.21	43.24	5.07	8.36	1.38	1.38	7.31
Difference		-0.30	-1.37	-2.72	-8.62	-16.54	-20.13	-0.52	-1.35	-1.64	-1.64	-9.76
* 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	3.07	5.52	4.49	13.65	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NAV	1.27	2.22	2.25	5.85	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Difference	-1.80	-3.30	-2.24	-7.79	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -0.09%	1Yr Disc -7.80%	3Yr Disc -4.78%	5Yr Disc -4.08%	Rel Disc Range (3yr) 77.82%
Mkt Yield 9.38%	Lev Adj NAV Yield 7.75%	After Tax Yield* 7.94%	Est Tax Friction* 1.44%	3Yr NAV Volatiliy 19.33
1 Yr RoC 52.88%	3 Yr Dest RoC 27.23%	Leverage 23.68%	Non Lev Exp Ratio 2.64%	Beta (2yr) 0.85
Equity Exposure 48.46%	Bond Exposure 49.24%	# Holdings 101	Cash Weighted Duration 1.74
Comp NAV TR -3.88%	Comp Discount 2.81%	Net Assets (M) 577	Liquidity - 90d (K) 2,776
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

101 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
OCCI	OFS Credit Company	OFS Capital	0.86	5.68	14.25	0.00	32.63	46	809
OXLC	Oxford Lane Cap Corp	Oxford Lane	0.91	12.85	11.98	0.00	36.53	525	6,775
OPP	RiverNorth DbLin Stgc Opp Fd	RiverNorth	0.86	-0.26	12.44	50.94	30.20	213	1,694
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.88	-4.54	11.38	65.47	35.91	956	5,208
RA	Brkf Real Ast Incm Fd	Brookfield	0.88	8.24	11.01	58.06	28.45	879	7,790
EDF	SH Emrg Mkt Incm Fd	Stone Harbor	0.88	26.29	10.92	64.93	25.51	116	842
PCF	Hi Incm Sec Fd	Hi Incm Sec Fd	0.87	-1.84	10.34	0.00	0.00	51	982
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.88	28.36	9.96	60.03	30.48	848	6,573
ACP	Abd Incm Cr Stgs Fd	Aberdeen	0.86	1.55	10.16	37.36	31.03	203	1,259
GGM	Gghm Cr Alloc Fd	Guggenheim Funds	0.87	13.71	10.09	32.65	22.50	193	1,361
FTF	FrkTmp Ltd Dur Incm Tr	Franklin Templeton	0.84	-2.34	10.34	40.10	31.75	283	1,096
VGI	Virtus Glbl Mlt-Sctr Incm Fd	Virtus	0.86	-0.25	9.92	59.54	26.96	137	670
XFLT	XAI Octgn Flt Rt & Alt Incm Trm	XA Investments	0.85	14.16	9.62	0.00	29.13	146	1,478
FAM	FT/Abd Glbl Opp Incm Fd	First Trust	0.84	-4.80	9.68	57.94	28.82	106	551
FCT	FT Sr Flt Rt Incm Fd II	First Trust	0.85	-3.15	9.51	33.34	28.35	330	2,107
EVV	EV Ltd Dur Incm Fd	Eaton Vance	0.84	-6.87	9.52	31.41	34.10	1,573	4,720
PDI	PIMCO Dyn Incm Fd	PIMCO	0.88	17.99	9.11	0.00	40.09	1,711	9,779
PCI	PIMCO Dyn Cr & Mortg Incm	PIMCO	0.87	13.02	9.15	1.38	43.61	3,039	12,083
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.86	10.81	9.28	3.17	33.31	708	2,655
PHT	Pioneer Hi Incm Tr	Pioneer	0.88	1.04	8.91	0.00	30.60	282	835
DMO	WA Mortg Opp Fd	Franklin Templeton	0.87	-0.47	9.03	23.48	24.20	166	1,017
NCZ	Virtus AG Convt & Incm Fd II	Virtus	0.88	-9.79	8.72	32.67	38.10	435	2,482
NCV	Virtus AG Convt & Incm Fd	Virtus	0.88	-8.78	8.76	29.87	37.61	577	2,746
PFL	PIMCO Incm Stgy Fd	PIMCO	0.85	13.43	9.01	4.53	33.77	359	1,527
MIN	MFS Imd Incm Tr	MFS	0.83	-3.17	8.85	53.81	0.00	439	1,843
ERC	WF Mlt-Sctr Incm Fd	Wells Fargo	0.85	-2.27	8.79	0.00	27.50	358	972
JGH	Nuv Glbl Hi Incm Fd	Nuveen	0.87	-7.08	8.61	0.00	28.64	393	792
FSD	FT Hi Incm Lng/Srt Fd	First Trust	0.84	-7.87	8.74	30.03	25.73	549	1,018
PKO	PIMCO Incm Opp Fd	PIMCO	0.87	15.69	8.45	0.00	45.00	485	1,815
PHK	PIMCO Hi Incm Fd	PIMCO	0.85	14.94	8.51	0.00	34.15	786	3,047
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	0.87	31.47	8.37	4.79	41.26	1,248	6,755
HIX	WA Hi Incm Fd II	Franklin Templeton	0.86	-1.69	8.40	6.15	28.80	418	1,009
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.86	-8.11	8.29	4.33	27.40	676	1,790
NHS	NB Hi Yld Stgs Fd	Neuberger Berman	0.86	2.84	8.32	32.56	33.80	186	655
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	0.86	-5.76	8.30	0.00	28.74	240	6,519
RCS	PIMCO Stgc Incm Fd	PIMCO	0.86	13.76	8.23	0.00	22.66	290	1,089
HFRO	Highland Incm Fd	Highland Capital	0.86	-17.40	8.21	4.34	26.60	972	2,888
TEI	Tmp Emrg Mkt Incm Fd	Franklin Templeton	0.87	-10.41	11.84	25.42	0.00	406	1,259
MCR	MFS Charter Incm Tr	MFS	0.84	-1.51	8.15	42.12	21.00	382	656
BIT	BR Mlt-Sctr Incm Tr	BlackRock	0.86	-0.75	8.05	35.99	36.85	697	2,402
EMD	WA Emrg Mkt Dbt Fd	Franklin Templeton	0.88	-5.85	7.89	31.48	28.00	883	2,636
FAX	Abd Asia-Pacific Incm Fd	Aberdeen	0.88	-8.17	7.73	61.85	28.92	1,152	4,601
CHY	Calamos Convt & Hi Incm Fd	Calamos	0.90	-2.64	7.56	0.00	32.03	1,195	4,540
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.86	-6.84	7.90	10.51	24.11	569	1,604
CHI	Calamos Convt Opp & Incm	Calamos	0.91	-1.36	7.48	0.00	32.00	1,096	4,447
ECC	Eagle Point Cr Co	Eagle Point	0.87	2.08	7.82	11.54	26.30	389	1,640
HCAP	Harvest Cap Cr Corp	Harvest Capital	0.67	-13.63	21.33	0.00	49.20	62	219
FSK	FS KKR Capital Corp	FS/KKR	0.69	-17.55	11.63	0.00	55.85	3,096	11,305
BKCC	BR Cap Inv Corp	BlackRock	0.73	-13.24	10.90	0.00	35.14	315	1,570
GECC	Great Elm Cap Corp	Great Elm Capital	0.62	-5.20	12.20	0.00	40.82	81	985
FSKR	FS KKR Capital Corp. II	FS/KKR	0.69	-19.12	10.84	0.00	46.51	4,265	11,368
PTMN	Portman Ridge Fin Corpn	Sierra Crest Inv Mgmt	0.73	-15.97	9.92	0.00	62.20	217	1,132
ICMB	Investcorp Cr Mgmt BDC	Investcorp	0.68	-27.55	10.56	0.00	57.96	109	279
TPVG	TP Vntr Gwth BDC Corp	TriplePoint Capital	0.69	19.04	9.33	0.00	38.20	401	2,952
MRCC	Monroe Capital Corp	Monroe Capital	0.68	-3.82	9.45	0.00	59.91	234	1,164
FCRD	First Eagle Alt Cap BDC	First Eagle Alt Cr	0.67	-31.87	9.55	0.00	46.95	185	291
CGBD	TCG BDC	Carlyle	0.67	-11.24	9.37	0.00	53.78	847	2,597
NMFC	New Mountain Fin Corp	New Mountain Capital	0.68	2.61	9.27	0.00	58.58	1,222	5,967
PFLT	PennantPark Flt Rt Cap	PennantPark	0.71	1.10	8.88	0.00	53.23	492	2,981
CCAP	Crescent Capital BDC	Crescent Capital	0.75	9.98	8.22	0.00	45.21	511	580
PSEC	Prospect Capital Corp	Prospect Capital	0.67	-11.16	9.05	0.00	37.39	3,456	24,158
CLM	Cornerstone Stgc Val Fd	Cornerstone	1.23	35.93	14.11	68.20	0.00	782	14,050
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.23	39.36	13.74	69.44	0.00	396	7,292
RIV	RiverNorth Opp Fd	RiverNorth	1.24	3.54	11.45	51.20	7.41	172	1,495
HGLB	Highland Glbl Alloc Fd	Highland Capital	1.31	-25.27	10.25	4.27	24.76	242	1,458
IFN	India Fund	Aberdeen	1.19	-6.50	11.05	51.49	0.00	604	2,050
GLO	Clough Glbl Opp Fd	Clough	1.28	-3.43	10.06	13.89	32.51	433	2,307
GLQ	Clough Glbl Eq Fd	Clough	1.27	-5.08	10.13	0.00	32.28	221	1,409
DPG	D&P Util & Infra Fd	Duff & Phelps	1.26	-1.71	10.17	54.79	29.80	531	2,511
ZTR	Virtus Tot Rtn Fd	Virtus	1.23	0.00	10.28	75.73	26.99	443	1,447
GGN	GAMCO Glbl Gd NtrRes Incm	Gabelli	1.27	-9.45	9.89	88.29	13.00	628	3,309
USA	Liberty All-Star Eq Fd	ALPS	1.31	2.75	9.73	0.00	0.00	1,737	7,524
GLV	Clough Glbl Div & Incm Fd	Clough	1.27	4.44	9.50	73.86	37.26	98	643
FMO	F/C Nrg Infra Fd	Guggenheim Funds	1.22	-9.51	9.90	100.00	16.55	78	684
EOD	WF Glbl Div Opp Fd	Wells Fargo	1.28	-8.60	9.36	0.00	16.60	257	1,239
HEQ	JH Hgd Eq & Incm Fd	John Hancock	1.24	-8.01	9.44	69.58	0.00	163	728
MCN	Madison Cov Call & Eq Stgc	Madison	1.28	4.60	9.05	39.69	0.00	159	804
IRR	Voya Ntr Res Eq Incm Fd	Voya	1.20	-1.80	9.42	71.00	0.00	70	594
THW	Tekla Wld Health Fd	Tekla	1.25	3.05	9.02	100.00	21.20	560	3,596
IHD	Voya Emrg Mkt Hi Div Eq Fd	Voya	1.19	-7.65	9.17	79.00	0.00	162	681
FEN	FT Nrg Incm & Gwth Fd	First Trust	1.24	-2.14	8.77	98.57	20.67	272	1,689
HQL	Tekla Life Sci Invstr	Tekla	1.20	-5.38	8.80	0.00	0.00	493	1,696
FEI	FT MLP & Nrg Incm Fd	First Trust	1.23	-11.08	8.60	86.08	20.42	355	1,660
GUT	Gabelli Util Tr	Gabelli	1.24	62.76	8.47	100.00	32.00	240	1,392
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	1.24	3.66	8.38	95.56	0.00	1,403	3,929
ETJ	EV Risk-Mgd Divr Eq Incm Fd	Eaton Vance	1.24	5.68	8.31	69.85	0.00	664	2,260
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	1.26	-0.83	8.15	61.08	0.00	1,161	3,509
FPL	FT New Opp MLP & Nrg Fd	First Trust	1.19	-12.81	8.59	88.97	20.52	150	890
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.24	-7.46	8.23	78.42	0.00	598	1,886
KYN	KA Nrg Infra Fd	Kayne Anderson	1.23	-12.77	8.29	100.00	29.07	1,050	5,249
HQH	Tekla Health Invstr	Tekla	1.20	-3.59	8.44	6.36	0.00	1,100	3,782
JDD	Nuv Divr Div & Incm Fd	Nuveen	1.30	-8.64	7.89	60.93	28.79	214	620
IGA	Voya Glbl Adv & Prm Opp Fd	Voya	1.20	-8.14	8.31	42.64	0.00	188	747
ETB	EV Tx-Mgd By-Wrt Incm Fd	Eaton Vance	1.24	3.74	8.05	54.41	0.00	413	1,102
CHW	Calamos Glbl Dyn Incm Fd	Calamos	1.29	8.73	7.76	0.00	33.36	592	2,161
NRO	NB Rel-Est Sec Incm Fd	Neuberger Berman	1.25	-3.50	7.98	60.21	17.60	230	1,098
SCD	LMP Cap & Incm Fd	Franklin Templeton	1.28	-10.43	7.91	69.82	18.60	264	625
CEM	CB MLP & Midstream Fd	Franklin Templeton	1.23	-13.55	8.00	100.00	30.21	381	1,925
AWP	Abd Glbl Prmr Prop Fd	Aberdeen	1.25	-3.91	7.82	65.50	15.94	546	2,768
CGO	Calamos Glbl Tot Rtn Fd	Calamos	1.30	4.65	7.50	0.00	32.07	136	524
JCE	Nuv Core Eq Alpha Fd	Nuveen	1.29	-3.47	7.66	6.41	0.00	264	760

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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