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04. 60/40 Balanced (w/ BDCs) Index

Data as of 08/19/2025 07/31/2025 06/30/2025 05/30/2025 04/30/2025 03/31/2025 02/28/2025 01/31/2025 12/31/2024 11/29/2024 10/31/2024 09/30/2024 08/30/2024 07/31/2024 06/28/2024 05/31/2024 04/30/2024 03/28/2024 02/29/2024 01/31/2024 12/29/2023 11/30/2023 10/31/2023 09/29/2023 08/31/2023 07/31/2023 06/30/2023 05/31/2023 04/28/2023 03/31/2023 03/23/2023 02/28/2023 01/31/2023 12/30/2022 11/30/2022 10/31/2022 09/30/2022 08/31/2022 07/29/2022 06/30/2022 05/31/2022 04/29/2022 03/31/2022 02/28/2022 02/11/2022 01/31/2022 12/31/2021 11/30/2021 10/29/2021 09/30/2021 08/31/2021 07/30/2021 06/30/2021 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(%)	10 Year(%)	MTD(%)	QTD(%)	YTD(%)
Price	2,244.68	-0.09	-0.12	1.43	6.65	5.43	20.86	12.39	12.30	9.78	0.74	1.82	11.03
NAV	1,945.37	-0.08	-0.13	1.38	5.48	5.25	11.34	9.72	9.12	7.67	0.81	1.74	9.08
Difference		0.00	-0.01	-0.05	-1.17	-0.18	-9.52	-2.67	-3.18	-2.11	0.07	-0.08	-1.95
* Periods greater than 1 Year are annualized.      ** On Inception Date (Dec. 30, 2016), Index Price was $1,000 and NAV was $1,000.02

2025 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2025
Price	4.26	-0.54	-1.67	1.96	-1.52	4.32	4.09	6.94	9.04	1.08	-	-	-	-	-	-	-	-	-
NAV	2.75	-0.18	-2.05	0.46	-0.36	3.37	3.62	6.73	7.21	0.92	-	-	-	-	-	-	-	-	-
Difference	-1.51	0.36	-0.38	-1.50	1.16	-0.96	-0.47	-0.22	-1.83	-0.16	-	-	-	-	-	-	-	-	-
2024 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2024
Price	1.89	2.22	2.96	7.23	-2.79	3.71	1.66	2.49	9.90	2.78	2.09	2.30	7.34	-1.44	7.44	-1.34	4.48	12.14	23.24
NAV	-0.01	2.05	2.65	4.74	-2.28	2.84	0.94	1.45	6.25	2.24	1.87	1.82	6.04	-1.08	3.14	-2.95	-0.98	5.01	11.57
Difference	-1.90	-0.18	-0.31	-2.49	0.51	-0.86	-0.72	-1.04	-3.65	-0.54	-0.22	-0.48	-1.29	0.36	-4.30	-1.62	-5.46	-7.14	-11.67
2023 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2023
Price	9.69	-2.61	-1.88	4.82	0.49	-2.20	5.47	3.66	8.65	3.60	-2.57	-3.33	-2.42	-4.76	8.41	4.29	7.68	5.07	14.15
NAV	6.43	-2.74	0.20	3.72	0.97	-1.65	4.26	3.54	7.39	2.73	-1.77	-2.69	-1.80	-2.63	6.64	4.41	8.41	6.46	14.32
Difference	-3.26	-0.13	2.08	-1.09	0.48	0.55	-1.21	-0.12	-1.26	-0.87	0.80	0.64	0.62	2.13	-1.77	0.12	0.73	1.39	0.17
2022 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	-3.17	-2.88	1.76	-4.30	-6.88	-0.81	-7.22	-14.30	-17.99	8.08	-2.59	-11.64	-6.98	5.99	5.77	-5.08	6.40	-1.02	-18.83
NAV	-2.92	-1.40	1.04	-3.28	-5.53	-0.45	-6.68	-12.24	-15.12	5.98	-2.54	-7.51	-4.47	4.17	4.98	-2.87	6.22	1.48	-13.86
Difference	0.25	1.48	-0.72	1.02	1.35	0.36	0.54	2.06	2.87	-2.09	0.05	4.13	2.51	-1.82	-0.78	2.21	-0.18	2.50	4.96
2021 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	1.62	4.47	3.74	10.13	3.78	2.48	1.62	8.08	19.02	-0.40	2.11	-2.69	-1.03	4.14	-2.58	2.51	4.00	2.93	22.51
NAV	0.90	2.50	1.98	5.47	3.19	1.67	1.01	5.97	11.76	0.08	1.50	-2.00	-0.45	3.17	-2.03	2.22	3.32	2.85	14.94
Difference	-0.72	-1.97	-1.77	-4.66	-0.59	-0.81	-0.61	-2.11	-7.26	0.48	-0.61	0.69	0.58	-0.97	0.55	-0.29	-0.68	-0.08	-7.56
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	0.36	-9.50	-21.75	-28.93	12.59	5.87	1.68	21.20	-13.87	4.09	3.86	-2.83	5.06	-1.96	14.61	4.35	17.26	23.19	6.10
NAV	-0.28	-5.29	-18.27	-22.82	10.16	4.39	2.27	17.61	-9.23	4.52	3.37	-2.14	5.72	-0.51	9.54	3.90	13.24	19.71	8.67
Difference	-0.64	4.21	3.48	6.12	-2.44	-1.48	0.60	-3.59	4.64	0.42	-0.50	0.68	0.66	1.45	-5.06	-0.46	-4.02	-3.47	2.57
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	11.90	2.46	1.13	15.95	2.46	-4.08	5.17	3.37	19.86	1.28	-1.92	2.32	1.63	1.04	1.10	2.96	5.18	6.90	28.13
NAV	7.27	2.04	1.33	10.91	1.97	-3.42	4.31	2.73	13.93	0.35	-1.13	1.36	0.57	1.14	0.95	2.96	5.13	5.72	20.45
Difference	-4.64	-0.42	0.20	-5.04	-0.50	0.66	-0.86	-0.65	-5.93	-0.93	0.79	-0.95	-1.07	0.10	-0.15	-0.00	-0.05	-1.18	-7.68
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	2.27	-3.15	-0.68	-1.62	1.62	0.68	-0.18	2.12	0.47	2.52	1.28	-0.97	2.83	-8.02	1.60	-7.42	-13.48	-11.03	-10.61
NAV	3.15	-3.55	-0.69	-1.19	0.89	0.49	-0.22	1.16	-0.05	2.59	0.70	-0.23	3.07	-5.02	0.62	-5.01	-9.22	-6.43	-6.47
Difference	0.88	-0.40	-0.01	0.42	-0.73	-0.19	-0.04	-0.96	-0.52	0.07	-0.57	0.73	0.24	3.00	-0.98	2.41	4.26	4.60	4.14
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	3.74	2.93	0.91	7.75	2.97	0.94	0.87	4.85	12.97	2.43	-0.84	2.42	4.03	-0.01	-0.68	1.90	1.18	5.26	18.91
NAV	2.11	2.27	0.74	5.21	1.33	1.08	0.90	3.34	8.72	2.02	0.08	1.29	3.42	0.75	0.81	1.01	2.59	6.10	15.36
Difference	-1.62	-0.65	-0.17	-2.54	-1.64	0.13	0.03	-1.51	-4.25	-0.41	0.92	-1.13	-0.61	0.77	1.50	-0.89	1.41	0.84	-3.56
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-5.40	0.25	7.55	2.00	3.32	0.95	2.24	6.63	8.77	4.62	0.92	-0.50	5.06	-2.65	0.37	2.25	-0.10	4.95	14.16
NAV	-3.90	-0.71	5.51	0.67	2.47	1.09	1.09	4.72	5.42	3.36	0.45	0.51	4.36	-1.25	-0.04	1.69	0.37	4.75	10.43
Difference	1.50	-0.96	-2.05	-1.33	-0.85	0.14	-1.14	-1.91	-3.35	-1.26	-0.47	1.01	-0.70	1.40	-0.41	-0.56	0.47	-0.21	-3.73
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	0.83	3.78	-1.13	3.47	1.72	-0.53	-3.83	-2.69	0.68	-2.04	-4.99	-4.34	-10.96	7.42	-1.82	-1.95	3.41	-7.93	-7.30
NAV	0.26	3.08	-0.57	2.76	1.76	0.13	-2.17	-0.31	2.43	-0.34	-4.22	-3.33	-7.73	5.09	-1.41	-2.84	0.68	-7.10	-4.84
Difference	-0.57	-0.70	0.56	-0.71	0.04	0.66	1.66	2.38	1.75	1.70	0.77	1.01	3.24	-2.33	0.41	-0.88	-2.73	0.83	2.46
2014 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2014
Price	-0.57	3.92	0.66	4.00	1.57	2.40	2.25	6.35	10.60	-1.89	2.44	-3.29	-2.80	1.14	0.91	-2.50	-0.50	-3.28	6.98
NAV	-0.36	3.22	1.01	3.89	1.11	2.00	2.01	5.21	9.30	-1.07	2.36	-2.79	-1.56	1.17	0.43	-1.67	-0.09	-1.65	7.50
Difference	0.21	-0.70	0.35	-0.11	-0.45	-0.40	-0.24	-1.13	-1.30	0.81	-0.08	0.50	1.23	0.03	-0.48	0.83	0.41	1.62	0.52
2013 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2013
Price	6.45	0.79	2.03	9.46	1.65	-1.26	-2.51	-2.15	7.11	1.59	-3.00	2.40	0.91	3.55	-0.44	1.68	4.82	5.78	13.30
NAV	4.16	0.38	1.95	6.59	2.30	-0.41	-2.90	-1.08	5.44	3.11	-1.99	3.10	4.18	2.97	0.65	0.99	4.67	9.05	14.99
Difference	-2.29	-0.41	-0.08	-2.87	0.65	0.85	-0.39	1.07	-1.67	1.52	1.00	0.70	3.28	-0.58	1.09	-0.69	-0.15	3.28	1.69
2012 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2012
Price	7.91	3.88	0.14	12.25	0.53	-5.35	3.60	-1.43	10.64	2.77	2.18	2.83	7.97	-0.91	-1.01	1.17	-0.77	7.14	18.55
NAV	4.57	3.36	0.48	8.60	0.36	-5.28	2.76	-2.32	6.08	2.30	1.65	2.44	6.53	0.31	0.34	1.51	2.17	8.84	15.45
Difference	-3.34	-0.52	0.34	-3.64	-0.16	0.06	-0.84	-0.90	-4.57	-0.46	-0.53	-0.38	-1.45	1.22	1.35	0.34	2.94	1.70	-3.09

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -3.28%	1Yr Disc -4.01%	3Yr Disc -5.81%	5Yr Disc -4.95%	Rel Disc Range (3yr) 61.07%
Mkt Yield 9.96%	Lev Adj NAV Yield 8.30%	After Tax Yield* 8.47%	Est Tax Friction* 1.49%	3Yr NAV Volatiliy 13.70
1 Yr RoC 41.43%	3 Yr Dest RoC 15.54%	Leverage 18.39%	Non Lev Exp Ratio 1.59%	Beta (2yr) 0.77
Equity Exposure 56.54%	Bond Exposure 41.19%	# Holdings 157	Cash Weighted Duration 1.46
Comp NAV TR -0.67%	Comp Discount 0.39%	Net Assets (M) 1,065	Liquidity - 90d (K) 3,446
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

157 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
PDI	PIMCO Dyn Incm Fd	PIMCO	0.63	13.80	13.77	17.98	32.47	6,766	34,179
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.61	29.43	14.74	61.86	11.50	2,114	12,932
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	0.62	4.04	11.25	10.99	34.53	1,735	5,645
DSL	DbLin Incm Solutions Fd	Doubleline	0.61	-0.41	10.80	14.92	21.40	1,401	4,669
PAXS	PIMCO Access Incm Fd	PIMCO	0.63	1.31	11.55	8.42	38.42	698	3,368
PHK	PIMCO Hi Incm Fd	PIMCO	0.63	5.40	11.80	11.54	9.74	812	2,604
WDI	WA Divr Incm Fd	Franklin Templeton	0.63	0.20	11.80	0.00	32.27	780	2,470
BTZ	BR Cr Alloc Incm Tr	BlackRock	0.61	-3.79	9.23	28.53	35.35	1,058	1,955
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.63	5.88	11.40	10.39	14.93	678	2,199
RA	Brkf Real Ast Incm Fd	Brookfield	0.60	-8.80	10.76	6.08	24.23	797	2,385
NPCT	Nuv Core Plus Impact Fd	Nuveen	0.60	-3.71	11.82	64.09	35.80	326	2,110
BHK	BR Core Bnd Tr	BlackRock	0.60	-3.52	9.33	35.25	24.08	719	2,973
BIT	BR Mlt-Sctr Incm Tr	BlackRock	0.58	-3.22	10.73	33.64	33.58	612	3,270
ARCC	Ares Capital Corp	Ares	0.25	12.51	8.58	0.00	48.53	14,037	82,469
OBDC	Blue Owl Cap Corp	Blue Owl	0.25	-5.59	10.43	0.00	53.03	7,681	35,261
BXSL	Blackstone Secur Lending Fd	Blackstone	0.25	10.06	10.24	0.00	51.71	6,292	26,847
MAIN	Main Street Cap Corp	Main Street Capital	0.27	101.95	4.69	0.00	41.93	2,889	30,651
FSK	FS KKR Capital Corp	FS/KKR	0.22	-19.97	14.59	0.00	54.97	6,142	28,070
HTGC	Hercules Capital	Hercules	0.26	61.82	8.35	0.00	48.18	2,151	20,335
GBDC	Golub Capital BDC	Golub Capital	0.25	-1.73	10.58	0.00	55.80	3,996	17,808
CSWC	Cap Southwest Corp	Capital Southwest	0.25	35.99	10.29	0.00	49.19	923	13,296
TSLX	Sixth St Splty Lending	Sixth St Splty Lending	0.25	41.00	7.60	0.00	50.55	1,618	11,832
PFLT	PennantPark Flt Rt Cap	PennantPark	0.25	-6.75	12.04	0.00	55.18	1,087	7,981
PSEC	Prospect Capital Corp	Prospect Capital	0.23	-60.14	18.69	0.00	52.32	3,274	9,508
OCSL	Oaktree Splty Lending	Oaktree Capital	0.25	-18.08	11.65	0.00	48.84	1,476	8,588
TRIN	Trinity Capital	Trinity Capital	0.29	19.89	12.82	0.00	51.48	933	11,956
MSDL	MS Direct Lending Fd	MS Cap Patnr Advis	0.24	-13.89	11.28	0.00	52.28	1,788	9,283
GSBD	Goldman Sachs BDC	Goldman Sachs	0.26	-13.67	11.39	0.00	52.80	1,486	7,324
CGBD	Carlyle Secured Lending	Carlyle	0.25	-16.31	11.64	0.00	51.21	1,198	6,046
MFIC	MidCap Fin Invt Corp	Apollo	0.25	-11.86	11.69	0.00	59.45	1,376	5,043
NMFC	New Mountain Fin Corp	New Mountain Capital	0.24	-14.82	12.31	0.00	56.61	1,299	4,396
BCSF	Bain Cap Splty Fin	BCSF Advisors	0.25	-12.30	10.91	0.00	56.32	1,139	3,962
TCPC	BR TCP Capital Corp	BlackRock	0.23	-17.91	13.99	0.00	60.99	741	3,529
BBDC	Barings BDC	Barings	0.26	-13.69	10.78	0.00	56.15	1,176	3,866
NCDL	Nuv Churchill Direct Lending	Churchill DLC Advis	0.25	-10.44	11.21	0.00	53.71	885	3,001
FDUS	Fidus Investment Corp	Fidus	0.26	8.74	8.08	0.00	42.08	692	3,713
HRZN	Horizon Tech Fin Corp	Horizon Tech Fin	0.24	2.81	19.02	0.00	58.84	287	3,568
FSCO	FS Cr Opp Corp	FS/KKR	0.67	0.27	10.99	0.00	32.32	1,464	6,066
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.68	-2.13	11.76	18.84	37.09	832	3,695
JFR	Nuv Flt Rt Incm Fd	Nuveen	0.66	-3.89	12.13	14.47	36.09	1,408	4,435
VVR	Invsc Sr Incm Tr	Invesco	0.63	-1.89	12.56	13.63	33.71	568	1,999
XFLT	XAI Octgn Flt Rt & Alt Incm Tr	XA Investments	0.65	-8.05	15.33	0.00	37.89	454	2,646
BGB	Blackstone Stgc Cr 2027 Trm Fd	Blackstone	0.68	-1.57	8.54	0.00	37.30	567	1,580
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	0.66	6.90	11.28	29.74	23.12	436	1,309
BGT	BR Flt Rt Incm Fd	BlackRock	0.66	2.99	11.64	31.10	17.79	347	2,026
ARDC	Ares Dyn Cr Alloc Fd	Ares	0.68	0.00	9.23	0.00	37.46	335	1,339
HYT	BR Corp Hi Yld Fd	BlackRock	0.45	-1.76	9.86	20.58	22.67	1,564	6,207
ACP	abrdn Incm Cr Stgs Fd	abrdn	0.47	-2.77	15.58	34.81	28.09	770	3,121
DLY	DbLin Yld Opp Fd	Doubleline	0.45	-3.22	9.15	6.44	15.05	767	2,407
KIO	KKR Incm Opp Fd	KKR Credit	0.45	-2.89	11.74	0.00	30.61	523	3,189
DSU	BR Dbt Stgs Fd	BlackRock	0.45	2.24	11.30	29.87	16.95	591	2,547
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.45	-0.38	9.57	25.44	15.64	541	2,004
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	0.46	2.41	9.06	6.31	28.12	160	1,352
HIO	WA Hi Incm Opp Fd	Franklin Templeton	0.46	-2.95	10.78	18.67	0.00	387	1,085
HIX	WA Hi Incm Fd II	Franklin Templeton	0.47	-1.59	13.58	20.86	32.14	396	1,291
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.47	1.91	8.74	30.10	18.93	470	1,340
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	0.49	2.88	8.94	0.00	27.47	320	1,462
FTHY	FT Hi Yld Opp 2027 Trm Fd	First Trust	0.45	-2.26	10.20	28.49	22.73	553	1,168
EAD	Allspring Incm Opp Fd	Allspring	0.46	-4.21	9.12	0.00	30.80	435	1,069
JPC	Nuv Pref & Incm Opp Fd	Nuveen	0.63	0.12	9.93	16.58	37.05	2,621	6,030
FPF	FT Imd Dur Pref & Incm Fd	First Trust	0.63	-3.17	8.71	22.28	34.32	1,191	2,298
PTA	Tx-Adv Pref Sec Pref Sec & Incm Fd	Cohen&Steers	0.63	-3.77	7.97	12.96	35.00	1,159	2,042
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	0.62	-7.46	7.07	0.00	37.50	846	1,708
PDT	JH Prm Div Fd	John Hancock	0.63	-4.99	7.42	16.48	35.83	691	1,610
LDP	C&S Ltd Dur Pref & Incm Fd	Cohen&Steers	0.63	-4.35	7.37	4.47	32.95	648	1,352
DFP	F&C Dyn Pref & Incm Fd	Flaherty & Crumrine	0.63	-8.40	6.83	0.00	37.50	467	1,210
NPFD	Nuv Var Rt Pref & Incm Fd	Nuveen	0.63	-3.49	10.37	35.54	36.11	485	1,095
CHY	Calamos Convt & Hi Incm Fd	Calamos	0.98	1.31	11.10	57.64	34.93	853	2,183
CHI	Calamos Convt Opp & Incm	Calamos	0.97	1.49	11.13	54.47	34.62	802	1,786
AVK	Advent Convt & Incm Fd	Guggenheim Funds	1.01	-2.68	11.41	70.32	38.41	559	1,803
CCD	Calamos Dyn Convt & Incm Fd	Calamos	1.01	4.96	11.52	45.18	34.32	533	1,861
NCV	Virtus Convt & Incm Fd	Virtus	1.01	-8.19	11.28	89.30	36.25	356	1,222
BBN	BR Taxable Muni BndTr	BlackRock	1.96	-6.04	7.39	15.33	32.98	1,054	2,438
GBAB	Gghm Taxable Muni Bnd & Inv Grd Dbt	Guggenheim Funds	2.00	1.54	9.96	44.63	28.24	404	1,462
ADX	Adams Divr Eq Fd	Adams Funds	1.05	-8.35	8.51	7.46	0.00	2,834	5,837
AEF	abrdn Emrg Mkt ex-China Fd	abrdn	1.53	-9.57	9.77	96.94	10.37	276	897
AGD	abrdn Glbl Dyn Div Fd	abrdn	1.23	2.12	11.43	41.06	2.43	281	1,387
AOD	abrdn Tot Dyn Div Fd	abrdn	1.21	-7.15	13.20	44.41	1.08	1,032	4,278
ASG	Liberty All-Star Gwth Fd	ALPS	0.71	-8.28	8.84	0.00	0.00	356	1,003
BGY	BR Enh Intl DivTr	BlackRock	1.16	-6.36	8.91	37.59	0.00	555	1,666
BSTZ	BR Sci & Tech Trm Tr	BlackRock	1.20	-5.99	12.27	24.64	0.00	1,548	4,997
BTX	BR Tech & Pvt Eq Trm Tr	BlackRock	1.05	-4.49	13.09	98.36	0.00	883	4,475
CEE	Cntrl & East Euro Fd	Deutsche	0.81	5.94	2.02	0.00	0.00	107	801
CET	Cntrl Sec Corp	Central Securities	0.75	-15.74	4.63	0.00	0.00	1,703	826
CHN	China Fund	Allianz	0.80	-3.91	0.91	0.00	0.00	165	841
CLM	Cornerstone Stgc Inv Fd	Cornerstone	1.05	17.99	18.36	54.51	0.00	1,938	12,375
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.07	18.65	18.06	75.95	0.00	1,014	7,352
EOD	Allspring Glbl Div Opp Fd	Allspring	0.78	-8.83	8.92	0.00	16.60	268	747
ETG	EV Tx-Adv Glbl Div Incm Fd	Eaton Vance	0.71	-5.76	7.53	13.34	19.71	1,668	2,188
ETO	EV Tx-Adv Glbl Div Opp Fd	Eaton Vance	0.72	-7.35	7.64	6.05	19.17	481	819
EVT	EV Tx-Adv Div Incm Fd	Eaton Vance	1.50	-7.62	8.19	0.00	19.87	1,946	2,973
GAB	Gabelli Eq Tr	Gabelli	0.74	6.95	10.00	37.88	17.00	1,724	2,772
GAM	General American Invstr	General American Inv	0.76	-10.65	0.42	0.00	11.35	1,541	1,063
GDV	Gabelli Div & Incm Tr	Gabelli	1.52	-10.86	6.34	30.94	16.00	2,651	3,579
GGT	Gabelli Multimedia Tr	Gabelli	0.74	10.32	23.02	78.43	35.00	126	734
HGLB	Highland Glbl Alloc Fd	NexPoint	0.70	-30.41	12.54	0.00	3.47	281	536
IDE	Voya Infra Ind & Matrls Fd	Voya	0.76	-1.29	9.84	37.58	0.00	187	587
IFN	India Fund	abrdn	0.69	-5.80	10.92	0.00	0.00	675	2,156
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.20	-5.33	10.24	76.67	0.00	488	1,232
IIF	MS India Inv Fd	Morgan Stanley	0.70	-10.98	9.19	0.00	0.00	293	784
JCE	Nuv Core Eq Alpha Fd	Nuveen	0.74	-3.47	8.23	4.05	0.00	274	471
JEQ	abrdn Japan Eq Fd	abrdn	0.78	-2.51	5.40	58.80	8.24	118	611
JOF	Japan Sml Caplz Fd	Nomura	0.78	-11.80	10.24	0.00	0.00	334	813
LGI	Lzrd Glbl Tot Rtn & Incm Fd	Lazard	1.23	-2.82	9.99	41.19	29.57	236	882
MXF	Mexico Fund	Impulsora del	0.75	-13.36	5.55	23.74	0.00	300	763
NBXG	NB Nxt Gen Connectivity Fd	Neuberger Berman	1.07	-9.53	8.16	100.00	0.00	1,281	2,881
RMT	Royce Micro-Cap Tr	Franklin Templeton	0.76	-11.53	7.39	0.00	0.36	568	1,244
RVT	Royce Small-Cap Tr	Franklin Templeton	1.09	-10.84	7.46	0.00	1.72	2,051	4,287
SOR	Source Capital	First Pacific	0.73	-5.23	5.68	0.00	0.00	381	485
SPE	Spl Opp Fd	Bulldog	0.72	-9.99	8.55	6.90	24.21	182	442
STEW	SRH Tot Rtn Fd	Paralel Advisors	1.09	-19.67	3.65	26.17	9.50	2,172	1,694
TDF	Tmp Dragon Fd	Franklin Templeton	0.76	-13.67	1.89	0.00	0.00	311	404
TWN	Taiwan Fund	Nomura	0.79	-15.95	0.81	0.00	0.00	358	606
TY	Tri-Cont Corp	Columbia Mngmt	0.75	-10.03	3.50	0.00	2.00	1,933	1,479
USA	Liberty All-Star Eq Fd	ALPS	1.01	-6.03	11.01	0.00	0.00	2,052	5,282
EXG	EV Tx-Mgd Glbl Divr Eq Incm	Eaton Vance	0.25	-5.78	8.96	21.00	0.00	2,857	5,034
QQQX	Nuv Nasdaq 100 Dyn Owrt Fd	Nuveen	0.25	-7.70	8.38	48.81	0.00	1,414	3,871
ETY	EV Tx-Mgd Divr Eq Incm Fd	Eaton Vance	0.25	1.89	7.61	0.00	0.00	2,419	3,668
BST	BR Sci & Tech Tr	BlackRock	0.25	-5.20	7.69	21.20	0.00	1,429	3,521
BDJ	BR Enh Eq Div Tr	BlackRock	0.25	-6.23	8.36	7.53	0.00	1,676	3,384
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	0.25	-8.66	8.99	19.90	0.00	1,063	2,533
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	0.25	-6.09	8.59	22.44	0.00	1,726	2,493
BXMX	Nuv S&P 500 By-Wrt Inc Fd	Nuveen	0.25	-8.84	7.72	77.12	0.00	1,614	1,988
NFJ	Virtus Div Int & Prm Stgy Fd	Virtus	0.25	-9.53	9.52	35.33	0.00	1,331	2,505
EOS	EV Enh Eq Incm Fd II	Eaton Vance	0.24	-0.17	7.68	31.64	0.00	1,249	2,033
CII	BR Enh Large Cap Core Fd	BlackRock	0.25	-4.56	7.70	0.00	0.00	942	1,703
KYN	KA Nrg Infra Fd	Kayne Anderson	0.86	-10.16	7.93	11.15	13.32	2,280	4,021
TYG	Tortoise Nrg Infra Corp	Tortoise	0.88	-5.45	10.18	69.13	20.00	785	2,998
EMO	CB Nrg Midstream Opp Fd	Franklin Templeton	0.89	-4.13	9.12	47.62	21.88	898	2,439
RQI	C&S Qlty Incm Rty Fd	Cohen&Steers	0.67	-3.68	7.81	0.00	29.04	1,715	3,421
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Invst Mgmt	0.64	0.81	14.46	57.38	31.55	746	2,959
AWP	abrdn Glbl Prmr Prop Fd	abrdn	0.68	2.33	12.15	74.94	11.02	340	1,453
RLTY	C&S Rel-Est Opp & Incm Fd	Cohen&Steers	0.68	-4.42	8.60	66.72	34.37	268	906
BMEZ	BR Health Sci Trm Tr	BlackRock	0.67	-10.11	14.09	99.86	0.00	977	3,606
HQH	abrdn Health Invstr	abrdn	0.72	-6.90	12.20	42.84	0.00	983	3,502
THQ	abrdn Health Opp Fd	abrdn	0.62	-4.19	12.75	61.05	30.52	732	4,343
BME	BR Health Sci Tr	BlackRock	0.68	-7.80	8.61	6.15	0.00	512	1,748
GGN	GAMCO Glbl Gd NtrRes Incm	Gabelli	0.93	-1.52	7.95	46.39	10.00	716	2,076
BCX	BR Res & Com Stgy Tr	BlackRock	0.91	-6.52	8.71	75.08	0.00	783	1,706
NXG	NXG NextGen Infra Incm Fd	Cushing	0.83	-2.33	14.04	100.00	23.38	265	2,113
ECAT	BR ESG Cap Alloc Trm Tr	BlackRock	0.40	1.35	21.14	91.51	0.00	1,614	5,457
CSQ	Calamos Stgc Tot Rtn Fd	Calamos	0.39	-4.27	6.69	54.07	30.55	3,081	3,413
NIE	Virtus Eq & Convt Incm Fd	Virtus	0.39	-9.69	8.25	0.00	0.00	744	1,436
TBLD	Thornburg Incm Bldr Opp Tr	Thornburg Inv Mgmt	0.39	-4.25	6.24	0.00	0.00	671	1,857
CHW	Calamos Glbl Dyn Incm Fd	Calamos	0.39	-9.88	8.32	14.03	26.50	511	1,128
ZTR	Virtus Tot Rtn Fd	Virtus	0.39	-10.88	9.51	59.83	29.73	393	1,105
CPZ	Calamos Lng-Srt Eq & Dyn Incm	Calamos	0.40	-6.69	10.20	7.46	25.66	347	1,037
UTG	Reaves Util Incm Fd	W.H. Reaves	0.47	1.36	6.30	0.00	18.05	3,367	8,815
DNP	DNP Sel Incm Fd	Virtus	0.45	4.90	7.93	18.76	24.21	3,496	5,069
UTF	C&S Infra Fd	Cohen&Steers	0.45	2.53	6.95	10.58	29.84	2,518	4,651
ASGI	abrdn Glbl Infra Incm Fd	abrdn	0.47	0.52	11.76	30.07	0.00	617	3,519
MEGI	MainStay CBRE Glbl Infra MTrnd Trm	New York Life	0.46	-8.46	10.42	41.67	24.30	818	2,215
BUI	BR Util Infra & Pwr OppTr	BlackRock	0.47	5.83	6.03	12.05	0.00	581	1,529
IAE	Voya AP Hi Div Eq Incm Fd	Voya	0.79	-6.56	10.96	82.08	0.00	82	282
IHD	Voya Emrg Mkt Hi Div Eq Fd	Voya	0.78	-7.93	11.15	83.58	0.00	114	373
HERZ	Herzfeld Cr Incm Fd	Herzfeld Cuba	0.74	-6.84	37.96	54.37	0.00	41	228
BTO	JH Fin Opp Fd	John Hancock	0.76	1.15	7.37	12.01	16.26	691	1,198

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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