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02. High Income Index

Data as of 01/22/2021 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	1,171.05	-0.22	0.23	5.58	21.30	26.38	-7.43	-0.67	11.09	4.20	4.20	4.20
NAV	1,205.48	-0.16	-0.13	3.63	13.16	18.23	-0.71	1.32	9.78	2.46	2.46	2.46
Difference		0.06	-0.36	-1.94	-8.14	-8.15	6.72	1.99	-1.31	-1.74	-1.74	-1.74
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2020 - Monthly Performance (%) Show Previous Years
	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	19.59	-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	13.64	-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	-5.95	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 -7.60%	1Yr Disc -10.13%	3Yr Disc -5.76%	5Yr Disc -5.15%	Rel Disc Range (3yr) 63.30%
Mkt Yield 10.23%	Lev Adj NAV Yield 7.68%	After Tax Yield* 8.71%	Est Tax Friction* 1.52%	3Yr NAV Volatiliy 20.43
1 Yr RoC 51.71%	3 Yr Dest RoC 32.24%	Leverage 24.87%	Non Lev Exp Ratio 2.13%	Beta (2yr) 0.92
Equity Exposure 47.88%	Bond Exposure 49.16%	# Holdings 99	Cash Weighted Duration 1.57
Comp NAV TR -2.00%	Comp Discount 0.66%	Net Assets (M) 586	Liquidity - 90d (K) 2,699
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

99 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
OCCI	OFS Credit Company	OFS Capital	0.94	-0.15	15.44	0.00	32.63	44	605
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.89	-8.90	14.27	63.87	35.95	960	4,748
OPP	RiverNorth DbLin Stgc Opp Fd	RiverNorth	0.88	-5.74	13.17	60.46	24.70	212	1,423
OXLC	Oxford Lane Cap Corp	Oxford Lane	1.06	33.20	12.39	23.53	36.53	431	7,181
RA	Brkf Real Ast Incm Fd	Brookfield	0.91	-6.98	12.89	55.17	25.74	874	3,785
EDF	SH Emrg Mkt Incm Fd	Stone Harbor	0.86	11.03	12.08	74.53	28.43	119	1,069
XFLT	XAI Octgn Flt Rt & Alt Incm Trm	XA Investments	0.94	6.42	10.79	0.00	28.29	111	855
PCF	Hi Incm Sec Fd	Hi Incm Sec Fd	0.86	-12.58	11.04	0.00	0.00	54	618
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.90	17.46	10.90	61.65	27.62	808	4,723
ACP	Abd Incm Cr Stgs Fd	Aberdeen	0.90	-3.62	10.98	22.72	31.04	198	1,102
GGM	Gghm Cr Alloc Fd	Guggenheim Funds	0.89	7.12	10.79	30.23	29.46	182	996
FCT	FT Sr Flt Rt Incm Fd II	First Trust	0.89	-9.74	10.79	45.46	28.62	336	1,335
PDI	PIMCO Dyn Incm Fd	PIMCO	0.87	5.56	10.09	0.00	38.67	1,677	9,090
VGI	Virtus Glbl Mlt-Sctr Incm Fd	Virtus	0.86	-6.12	10.16	58.21	27.63	142	567
FTF	FrkTmp Ltd Dur Incm Tr	Franklin	0.87	-1.79	10.09	47.80	31.67	287	1,049
PCI	PIMCO Dyn Cr & Mortg Incm	PIMCO	0.88	4.79	9.84	1.38	42.61	3,000	11,992
PHT	Pioneer Hi Incm Tr	Pioneer	0.90	-3.89	9.51	0.00	30.40	278	757
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.88	5.40	9.65	2.02	32.57	696	2,562
EVV	EV Ltd Dur Incm Fd	Eaton Vance	0.88	-9.08	9.59	30.73	34.84	1,598	4,496
PHK	PIMCO Hi Incm Fd	PIMCO	0.89	4.44	9.43	0.00	29.08	779	3,304
DMO	WA Mortg Opp Fd	Legg Mason	0.87	-5.73	9.53	22.92	25.90	166	806
ECC	Eagle Point Cr Co	Eagle Point	0.98	1.07	8.50	17.50	32.90	362	1,643
PFL	PIMCO Incm Stgy Fd	PIMCO	0.88	7.24	9.47	2.62	32.77	349	1,305
NHS	NB Hi Yld Stgs Fd	Neuberger Berman	0.88	-7.01	9.20	32.25	34.61	186	967
ERC	WF Mlt-Sctr Incm Fd	Wells Fargo	0.88	-6.60	9.04	0.00	27.93	375	1,010
PKO	PIMCO Incm Opp Fd	PIMCO	0.86	5.04	9.19	0.00	40.36	480	1,857
HFRO	Highland Incm Fd	Highland Capital	0.87	-22.35	9.01	13.26	32.90	943	4,490
FSD	FT Hi Incm Lng/Srt Fd	First Trust	0.89	-10.09	8.87	30.93	25.75	554	1,339
NCV	AG Convt & Incm Fd	Allianz	0.88	-11.64	8.84	31.48	38.42	590	4,181
NCZ	AG Convt & Incm Fd II	Allianz	0.88	-13.48	8.88	24.31	38.91	446	6,273
RCS	PIMCO Stgc Incm Fd	PIMCO	0.88	3.90	8.84	0.00	23.70	294	1,109
MIN	MFS Imd Incm Tr	MFS	0.86	-3.84	8.92	57.38	0.00	453	1,290
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	0.88	26.52	8.70	3.35	42.79	1,249	6,481
KIO	KKR Incm Opp Fd	KKR Credit	0.89	-10.01	8.59	1.30	36.72	331	1,529
DHY	CS Hi Yld Bnd Fd	Credit Suisse	0.88	-9.84	8.65	0.77	28.03	263	4,987
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.88	-11.60	8.65	2.75	27.01	674	1,743
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	0.87	-9.70	8.66	0.00	29.27	240	5,281
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	0.88	-7.85	8.52	0.61	31.47	180	3,437
HIX	WA Hi Incm Fd II	Legg Mason	0.87	-4.45	8.56	7.04	28.08	422	2,048
AVK	Advent Convt & Incm Fd	Guggenheim Funds	0.90	-14.23	8.27	74.69	32.85	684	1,946
BIT	BR Mlt-Sctr Incm Tr	BlackRock	0.87	-5.22	8.52	32.02	34.70	690	1,919
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.89	-10.57	8.32	8.84	24.75	563	1,813
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	0.88	-10.44	8.35	0.00	28.68	340	1,135
VTA	Invsc Dyn Cr Opp Fd	Invesco	0.89	-8.35	8.20	11.11	30.00	754	2,923
GECC	Great Elm Cap Corp	Great Elm Capital	0.59	-41.41	30.74	0.00	43.63	122	868
HCAP	Harvest Cap Cr Corp	Harvest Capital	0.66	-23.70	24.74	0.00	54.15	61	553
BKCC	BR Cap Inv Corp	BlackRock	0.69	-31.60	13.79	0.00	49.09	307	1,108
FSK	FS KKR Capital Corp	FS/KKR	0.70	-29.11	13.84	0.00	55.85	3,027	10,342
OXSQ	Oxford Square Cap Corp	Oxford Lane	0.74	-8.05	11.86	0.00	35.61	191	1,350
FSKR	FS KKR Capital Corp. II	FS/KKR	0.69	-30.98	12.93	0.00	42.49	4,195	10,367
PSEC	Prospect Capital Corp	Prospect Capital	0.74	-26.07	11.59	0.00	39.74	3,197	12,934
ICMB	Investcorp Cr Mgmt BDC	Investcorp	0.69	-36.88	12.17	0.00	59.31	109	232
PTMN	Portman Ridge Fin Corpn	Sierra Crest Inv Mgmt	0.66	-30.63	12.18	0.00	56.19	125	740
CGBD	TCG BDC	Carlyle	0.72	-25.05	11.38	0.00	56.01	845	2,842
MRCC	Monroe Capital Corp	Monroe Capital	0.69	-19.85	11.52	0.00	58.50	231	1,044
AINV	Apollo Inv Corp	Apollo	0.77	-20.27	10.07	0.00	60.48	1,008	6,445
CSWC	Cap Southwest Corp	Capital Southwest	0.66	19.21	11.14	0.00	55.09	286	2,561
CCAP	Crescent Capital BDC	Crescent Capital	0.70	-18.20	10.51	0.00	43.54	537	338
BCSF	Bain Cap Splty Fin	BCSF Advisors	0.68	-21.02	10.58	0.00	57.76	1,050	4,149
CLM	Cornerstone Stgc Val Fd	Cornerstone	1.27	24.60	15.43	73.46	0.00	770	8,895
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.27	26.17	15.24	75.37	0.00	393	4,840
HGLB	Highland Glbl Alloc Fd	Highland Capital	1.26	-34.77	12.47	11.53	25.82	228	1,211
RIV	RiverNorth Opp Fd	RiverNorth	1.24	-0.12	12.22	82.28	13.52	167	1,182
DPG	D&P Util & Infra Fd	Duff & Phelps	1.28	-3.62	10.74	77.07	31.32	513	2,731
CEM	CB MLP & Midstream Fd	Legg Mason	1.36	-18.67	10.03	100.00	31.75	325	2,705
FEN	FT Nrg Incm & Gwth Fd	First Trust	1.29	-11.16	10.40	79.73	19.95	253	1,739
CTR	CB MLP & Midstream Tot Rtn Fd	Legg Mason	1.35	-22.36	9.76	100.00	29.67	154	911
ZTR	Virtus Tot Rtn Fd	Virtus	1.20	-6.03	11.00	78.94	27.73	441	1,508
NRO	NB Rel-Est Sec Incm Fd	Neuberger Berman	1.15	-5.16	8.85	59.00	19.57	211	1,153
EOD	WF Glbl Div Opp Fd	Wells Fargo	1.28	-11.91	10.36	0.00	18.23	249	1,060
MCN	Madison Cov Call & Eq Stgc	Madison	1.28	-0.96	10.01	36.86	0.00	152	844
FPL	FT New Opp MLP & Nrg Fd	First Trust	1.34	-14.75	9.49	86.02	20.98	140	883
KYN	KA Nrg Infra Fd	Kayne Anderson	1.36	-16.56	9.23	100.00	31.95	985	7,812
FEI	FT MLP & Nrg Incm Fd	First Trust	1.30	-13.81	9.62	83.84	18.23	330	2,219
GGN	GAMCO Glbl Gd NtrRes Incm	Gabelli	1.22	-12.62	10.20	49.35	12.00	666	3,190
HEQ	JH Hgd Eq & Incm Fd	John Hancock	1.22	-10.34	9.98	49.66	0.00	158	911
IFN	India Fund	Aberdeen	1.24	-11.79	9.69	29.06	0.00	630	1,938
IHD	Voya Emrg Mkt Hi Div Eq Fd	Voya	1.36	-7.91	8.97	80.00	0.00	166	637
GLO	Clough Glbl Opp Fd	Clough	1.31	-13.76	10.73	61.17	35.24	454	2,079
EMO	CB Nrg Midstream Opp Fd	Legg Mason	1.37	-22.66	8.46	100.00	29.24	271	1,809
GLQ	Clough Glbl Eq Fd	Clough	1.31	-14.04	10.73	52.21	35.00	231	1,038
USA	Liberty All-Star Eq Fd	ALPS	1.26	-3.68	10.76	0.00	0.00	1,560	5,586
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.25	-12.66	8.92	74.42	0.00	586	1,985
AWP	Abd Glbl Prmr Prop Fd	Aberdeen	1.26	-7.41	8.73	64.17	10.30	507	2,602
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	1.21	-6.62	8.97	62.26	0.00	1,120	3,721
IGA	Voya Glbl Adv & Prm Opp Fd	Voya	1.24	-12.04	8.91	2.03	0.00	183	782
JRS	Nuv Rel-Est Incm Fd	Nuveen	1.21	-12.23	8.90	32.49	28.33	281	935
JDD	Nuv Divr Div & Incm Fd	Nuveen	1.21	-14.41	8.86	50.63	28.03	203	502
SCD	LMP Cap & Incm Fd	Legg Mason	1.22	-14.94	8.78	61.61	20.60	250	715
IDE	Voya Infra Ind & Matrls Fd	Voya	1.29	-12.08	8.45	75.66	0.00	229	876
THW	Tekla Wld Health Fd	Tekla	1.29	11.11	8.24	100.00	21.96	461	2,254
ETJ	EV Risk-Mgd Divr Eq Incm Fd	Eaton Vance	1.21	2.45	8.73	64.71	0.00	651	2,493
CHW	Calamos Glbl Dyn Incm Fd	Calamos	1.25	-2.57	8.51	8.18	29.93	602	2,027
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Clarion	1.21	-14.13	8.66	70.83	24.00	941	2,991
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	1.18	3.56	8.79	94.85	0.00	1,326	3,764
ETB	EV Tx-Mgd By-Wrt Incm Fd	Eaton Vance	1.19	1.02	8.74	62.10	0.00	390	1,231
JRI	Nuv Rel-Ast Incm & Gwth Fd	Nuveen	1.20	-15.28	8.60	42.88	27.64	437	1,416
EXG	EV Tx-Mgd Glbl Divr Eq Incm	Eaton Vance	1.22	-6.43	8.32	94.59	0.00	2,874	6,539
NRGX	Nrg & Tac Cr Opp Fd	PIMCO	1.35	-18.15	7.61	53.22	16.58	488	2,914

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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