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

Data as of 01/23/2020 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	1,391.92	-0.24	-0.27	2.94	7.21	8.18	20.76	10.82	7.65	2.20	2.20	2.20
NAV	1,319.54	-0.16	-0.39	2.34	6.30	6.90	16.61	9.23	6.52	1.54	1.54	1.54
Difference		0.08	-0.12	-0.60	-0.91	-1.28	-4.16	-1.59	-1.13	-0.66	-0.66	-0.66
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2019 - Monthly Performance (%) Show Previous Years
	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	19.32	1.28	-1.92	2.32	1.63	1.04	1.10	2.96	5.18	6.81	26.14
NAV	7.27	2.04	1.33	10.91	1.97	-3.42	4.31	2.73	13.64	0.35	-1.13	1.36	0.57	1.14	0.95	2.96	5.13	5.69	19.33
Difference	-4.64	-0.42	0.20	-5.04	-0.50	0.66	-0.86	-0.65	-5.69	-0.93	0.79	-0.95	-1.07	0.10	-0.15	-0.00	-0.05	-1.12	-6.81
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	0.50	2.52	1.28	-0.97	2.83	-8.02	1.60	-7.42	-13.48	-10.65	-10.14
NAV	3.15	-3.55	-0.69	-1.19	0.89	0.49	-0.22	1.16	-0.04	2.59	0.70	-0.23	3.07	-5.02	0.62	-5.01	-9.22	-6.14	-6.18
Difference	0.88	-0.40	-0.01	0.42	-0.73	-0.19	-0.04	-0.96	-0.54	0.07	-0.57	0.73	0.24	3.00	-0.98	2.41	4.26	4.50	3.97
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	12.59	2.43	-0.84	2.42	4.03	-0.01	-0.68	1.90	1.18	5.21	17.81
NAV	2.11	2.27	0.74	5.21	1.33	1.08	0.90	3.34	8.55	2.02	0.08	1.29	3.42	0.75	0.81	1.01	2.59	6.01	14.56
Difference	-1.62	-0.65	-0.17	-2.54	-1.64	0.13	0.03	-1.51	-4.04	-0.41	0.92	-1.13	-0.61	0.77	1.50	-0.89	1.41	0.80	-3.25
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	8.64	4.62	0.92	-0.50	5.06	-2.65	0.37	2.25	-0.10	4.96	13.60
NAV	-3.90	-0.71	5.51	0.67	2.47	1.09	1.09	4.72	5.39	3.36	0.45	0.51	4.36	-1.25	-0.04	1.69	0.37	4.73	10.12
Difference	1.50	-0.96	-2.05	-1.33	-0.85	0.14	-1.14	-1.91	-3.25	-1.26	-0.47	1.01	-0.70	1.40	-0.41	-0.56	0.47	-0.23	-3.47
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	0.77	-2.04	-4.99	-4.34	-10.96	7.42	-1.82	-1.95	3.41	-7.56	-6.78
NAV	0.26	3.08	-0.57	2.76	1.76	0.13	-2.17	-0.31	2.44	-0.34	-4.22	-3.33	-7.73	5.09	-1.41	-2.84	0.68	-7.05	-4.61
Difference	-0.57	-0.70	0.56	-0.71	0.04	0.66	1.66	2.38	1.67	1.70	0.77	1.01	3.24	-2.33	0.41	-0.88	-2.73	0.51	2.18

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -3.41%	1Yr Disc -4.64%	3Yr Disc -4.80%	5Yr Disc -6.06%	Rel Disc Range (3yr) 62.46%
Mkt Yield 8.10%	Lev Adj NAV Yield 6.61%	After Tax Yield* 6.85%	Est Tax Friction* 1.25%	3Yr NAV Volatiliy 10.27
1 Yr RoC 27.44%	3 Yr Dest RoC 8.41%	Leverage 20.41%	Non Lev Exp Ratio 1.58%	Beta (2yr) 0.58
Equity Exposure 55.35%	Bond Exposure 41.88%	# Holdings 166	Cash Weighted Duration 1.34
Comp NAV TR 0.42%	Comp Discount 1.12%	Net Assets (M) 897	Liquidity - 90d (K) 2,894
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

166 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
PCI	PIMCO Dyn Cr & Mortg Incm	PIMCO	0.66	9.19	8.29	0.00	43.94	3,229	11,243
DSL	DbLin Incm Solutions Fd	Doubleline	0.67	2.55	8.79	3.20	30.83	2,029	6,846
PDI	PIMCO Dyn Incm Fd	PIMCO	0.67	20.20	8.04	0.00	38.64	1,584	5,807
BTZ	BR Cr Alloc Incm Tr	BlackRock	0.67	-5.65	7.02	7.99	26.91	1,580	5,817
RA	Brkf Real Ast Incm Fd	Brookfield	0.68	-5.34	10.87	44.09	21.88	846	4,994
PHK	PIMCO Hi Incm Fd	PIMCO	0.67	20.83	9.68	6.07	26.00	828	4,028
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.66	7.72	11.87	50.91	0.00	684	3,945
BIT	BR Mlt-Sctr Incm Tr	BlackRock	0.67	-6.43	9.11	22.00	36.69	654	3,645
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	0.67	-7.47	6.34	0.00	38.07	1,155	2,998
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.67	9.02	8.92	0.00	23.89	672	2,247
BHK	BR Core Bnd Tr	BlackRock	0.67	-4.64	5.41	11.97	24.62	848	2,118
PKO	PIMCO Incm Opp Fd	PIMCO	0.67	14.90	8.10	0.00	34.29	440	1,759
ARCC	Ares Capital Corp	Ares	0.27	9.50	8.47	0.00	45.64	7,373	35,833
FSK	FS KKR Capital Corp	FS/KKR	0.28	-20.48	12.16	0.00	45.30	4,001	13,496
GBDC	Golub Capital BDC	Golub Capital	0.27	9.96	7.16	0.00	48.46	2,223	10,781
MAIN	Main Street Cap Corp	Main Street Capital	0.28	81.90	5.59	0.00	39.77	1,535	10,476
NMFC	New Mountain Fin Corp	New Mountain Capital	0.28	6.44	9.57	0.00	58.35	1,292	8,796
PSEC	Prospect Capital Corp	Prospect Capital	0.28	-25.82	10.94	0.00	39.90	3,259	10,511
AINV	Apollo Inv Corp	Apollo	0.28	-5.99	10.24	0.00	54.94	1,244	8,868
HTGC	Hercules Capital	Hercules	0.28	38.54	8.90	0.00	51.53	1,086	7,367
CGBD	TCG BDC	Carlyle	0.30	-14.90	10.49	0.00	54.03	978	5,770
BCSF	Bain Cap Splty Fin	BCSF Advisors	0.27	0.46	8.28	0.00	60.77	1,018	5,307
TSLX	TPG Specialty Lending	TSL Advisers	0.28	29.55	7.20	0.00	43.52	1,112	4,723
NEWT	Newtek Biz Serv Corp	Newtek	0.26	40.88	13.08	0.00	53.68	300	3,576
TCPC	BR TCP Capital Corp	BlackRock	0.27	4.49	10.14	0.00	55.12	799	4,130
TPVG	TP Vntr Gwth BDC Corp	TriplePoint Capital	0.26	2.45	10.43	0.00	41.30	413	4,540
GSBD	Goldman Sachs BDC	Goldman Sachs	0.27	24.97	8.48	0.00	50.03	685	2,955
PNNT	PennantPark Inv Corp	PennantPark	0.28	-23.62	10.86	0.00	53.18	582	2,690
SLRC	Solar Capital	Solar Capital	0.28	-5.71	7.94	0.00	33.40	926	2,696
OCSL	Oaktree Splty Lending	Oaktree Capital	0.27	-15.45	6.81	0.00	31.96	930	2,902
ORCC	Owl Rock Capital Corp	Owl Rock	0.24	4.53	7.79	0.00	28.70	5,923	3,998
GAIN	Gladstone Inv Corp	Gladstone	0.28	8.80	6.23	0.00	29.19	407	2,716
CSWC	Cap Southwest Corp	Capital Southwest	0.28	17.21	9.32	0.00	42.25	328	2,648
SAR	Saratoga Inv Corp	Saratoga	0.29	5.57	8.39	0.00	48.26	283	2,935
HFRO	Highland Incm Fd	Highland Capital	0.40	-9.54	7.33	36.14	29.03	1,002	5,073
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.39	-6.37	14.45	54.46	37.40	1,107	6,459
VVR	Invsc Sr Incm Tr	Invesco	0.40	-8.61	6.62	5.63	29.00	728	5,259
VTA	Invsc Dyn Cr Opp Fd	Invesco	0.40	-8.39	7.70	17.52	32.00	804	4,281
JFR	Nuv Flt Rt Incm Fd	Nuveen	0.40	-6.25	7.13	0.00	37.78	628	3,647
BGB	B/GSO Stgc Cr Fd	GSO / Blackstone	0.40	-4.97	8.57	0.00	37.24	691	2,859
PPR	Voya Prime Rt Tr	Voya	0.40	-6.22	5.45	0.00	27.46	808	3,061
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	0.40	-7.17	6.95	0.00	28.99	526	2,899
NSL	Nuv Sr Incm Fd	Nuveen	0.40	-6.83	7.13	0.00	38.28	254	3,129
JRO	Nuv Flt Rt Incm Opp Fd	Nuveen	0.40	-7.22	7.15	0.00	37.16	444	2,388
EFR	EV Sr Flt-Rt Tr	Eaton Vance	0.40	-6.89	7.31	0.00	35.46	546	2,656
EFT	EV Flt-Rt Incm Tr	Eaton Vance	0.41	-6.81	7.15	0.00	35.50	603	2,396
ARDC	Ares Dyn Cr Alloc Fd	Ares	0.40	-8.00	8.19	0.00	30.10	393	1,478
BGT	BR Flt Rt Incm Fd	BlackRock	0.41	-6.91	6.94	0.00	28.48	326	1,107
FCT	FT Sr Flt Rt Incm Fd II	First Trust	0.40	-7.39	7.75	4.29	28.35	368	1,120
HYT	BR Corp Hi Yld Fd	BlackRock	0.37	-5.70	8.31	3.58	29.29	1,454	6,275
ACP	Abd Incm Cr Stgs Fd	Aberdeen	0.38	-5.11	12.30	6.33	25.88	215	2,387
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.37	-8.06	8.12	0.00	24.16	561	2,322
HIX	WA Hi Incm Fd II	Legg Mason	0.37	-7.25	8.42	10.30	29.45	634	3,189
DSU	BR Dbt Stgs Fd	BlackRock	0.38	-7.06	7.45	5.35	30.10	609	2,197
FSD	FT Hi Incm Lng/Srt Fd	First Trust	0.37	-7.20	8.33	27.39	22.79	587	2,295
HIO	WA Hi Incm Opp Fd	Legg Mason	0.37	-8.08	7.50	1.81	0.00	713	2,252
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.37	-9.12	8.32	0.00	25.08	682	1,937
EAD	WF Incm Opp Fd	Wells Fargo	0.38	-5.78	8.36	3.33	29.18	549	1,783
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	0.38	-2.88	9.44	0.00	28.35	369	1,612
KIO	KKR Incm Opp Fd	KKR Credit	0.37	-1.42	9.39	0.00	31.01	330	1,435
HYI	WA Hi Yld Dfin Opp Fd	Legg Mason	0.37	-4.67	7.17	0.00	0.00	375	1,420
PHT	Pioneer Hi Incm Tr	Pioneer	0.38	-4.98	8.32	0.00	30.00	299	1,024
EHI	WA Glbl Hi Incm Fd	Legg Mason	0.37	-8.56	7.89	3.77	29.70	484	851
IVH	Ivy Hi Incm Opp Fd	Ivy Investment	0.37	-6.86	8.50	0.00	30.90	251	922
DHY	CS Hi Yld Bnd Fd	Credit Suisse	0.37	-4.23	7.95	11.86	27.87	269	1,123
JPS	Nuv Pref & Incm Sec Fd	Nuveen	0.62	-0.78	6.57	0.17	34.86	2,101	5,723
FPF	FT Imd Dur Pref & Incm Fd	First Trust	0.63	-3.16	6.57	2.43	30.42	1,519	4,686
JPC	Nuv Pref & Incm Opp Fd	Nuveen	0.61	-0.85	6.99	0.30	36.13	1,091	2,460
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	0.63	6.58	6.01	0.00	32.90	931	2,393
LDP	C&S Ltd Dur Pref & Incm Fd	Cohen & Steers	0.62	-0.41	7.02	8.90	29.80	772	1,801
PDT	JH Prm Div Fd	John Hancock	0.63	12.63	6.37	20.29	33.07	792	1,524
HPI	JH Pref Incm Fd	John Hancock	0.63	6.18	6.34	22.14	33.92	574	1,376
JPI	Nuv Pref & Incm Trm Fd	Nuveen	0.61	-0.85	6.30	0.09	33.52	592	1,350
NCV	AG Convt & Incm Fd	Allianz	1.01	1.73	10.70	38.50	40.90	523	2,353
CHY	Calamos Convt & Hi Incm Fd	Calamos	1.02	-2.08	8.67	45.91	32.65	880	2,029
CHI	Calamos Convt Opp & Incm	Calamos	1.02	-1.49	8.52	46.20	32.42	811	1,685
AVK	Advent Convt & Incm Fd	Guggenheim Funds	0.99	-8.32	8.92	67.51	39.20	593	1,721
NCZ	AG Convt & Incm Fd II	Allianz	1.00	-0.19	10.38	39.87	41.34	396	1,317
BBN	BR Taxable Muni BndTr	BlackRock	1.99	-1.67	5.41	0.95	38.13	1,441	4,207
NBB	Nuv Taxable Muni Incm Fd	Nuveen	2.01	0.31	4.93	0.00	37.33	614	1,495
ADX	Adams Divr Eq Fd	Adams Funds	0.80	-11.65	5.57	0.00	0.00	1,927	3,653
AEF	Abd Emrg Mkt Eq Incm Fd	Aberdeen	1.81	-10.64	2.30	8.47	9.12	444	471
AOD	Abd Tot Dyn Div Fd	Aberdeen	1.07	-11.12	7.64	22.91	0.00	1,071	2,522
ASG	Liberty All-Star Gwth Fd	ALPS	0.83	7.54	7.59	0.00	0.00	239	1,039
BGY	BR Enh Intl DivTr	BlackRock	1.04	-9.40	6.90	65.80	0.00	686	1,617
BIF	Boulder Gwth & Incm Fd	Boulder	1.18	-14.19	3.48	0.00	0.00	1,416	1,535
BSTZ	BR Sci & Tech Tr II	BlackRock	1.09	-3.09	5.63	99.73	0.00	1,718	3,186
CAF	MS China A Shr Fd	Morgan Stanley	0.76	-13.28	4.03	0.00	0.00	531	1,463
CET	Cntrl Sec Corp	Central Securities	0.79	-13.67	3.99	0.00	0.00	999	606
CHN	China Fund	Allianz	0.84	-9.74	6.44	0.00	0.00	252	679
CLM	Cornerstone Stgc Val Fd	Cornerstone	1.21	5.89	19.34	74.84	0.00	815	5,099
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.20	6.47	19.26	78.02	0.00	418	3,225
DNI	Div & Incm Fd	Bexil	0.79	-14.69	7.33	67.54	12.79	199	555
EMF	Tmp Emrg Mkt Fd	Templeton	0.79	-10.06	7.45	0.00	3.57	292	709
EOD	WF Glbl Div Opp Fd	Wells Fargo	1.08	-6.27	10.23	0.00	15.37	266	986
ETG	EV Tx-Adv Glbl Div Incm Fd	Eaton Vance	1.62	-2.43	6.66	37.06	24.16	1,445	2,733
ETO	EV Tx-Adv Glbl Div Opp Fd	Eaton Vance	0.79	1.82	8.23	20.13	24.70	389	1,215
EVT	EV Tx-Adv Div Incm Fd	Eaton Vance	1.62	0.78	6.73	19.17	20.03	1,881	2,917
FDEU	FT Dyn Euro Eq Incm Fd	First Trust	1.80	-4.62	9.50	9.21	26.40	276	1,091
GAB	Gabelli Eq Tr	Gabelli	0.78	2.70	9.87	77.33	21.00	1,511	3,187
GAM	General American Invstr	General American Inv	0.79	-13.79	6.45	0.00	15.50	1,077	955
GDV	Gabelli Div & Incm Tr	Gabelli	1.61	-8.55	5.99	38.56	19.00	1,987	7,098
GLQ	Clough Glbl Eq Fd	Clough	0.81	-7.38	10.46	0.00	39.84	181	712
HGLB	Highland Glbl Alloc Fd	Highland Capital	1.03	-20.35	11.05	19.71	39.16	259	1,034
HIE	Miller/Howard Hi Incm Eq Fd	Miller/Howard	1.06	5.09	12.26	64.12	34.00	191	1,184
IDE	Voya Infra Ind & Matrls Fd	Voya	1.08	-11.07	7.92	33.72	0.00	251	1,138
IFN	India Fund	Aberdeen	0.81	-11.21	11.07	0.00	0.00	624	2,090
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.08	-10.54	7.64	58.42	0.00	681	3,640
IHD	Voya Emrg Mkt Hi Div Eq Fd	Voya	0.78	-5.95	9.11	62.62	0.00	160	589
IIF	MS India Inv Fd	Morgan Stanley	0.80	-14.64	0.13	0.00	0.00	325	900
INF	Brkf Glbl Lstd Infra Incm Fd	Brookfield	1.11	-6.46	6.57	51.68	25.75	215	946
JCE	Nuv Core Eq Alpha Fd	Nuveen	0.79	-3.00	6.72	80.67	0.00	246	668
LGI	Lzrd Glbl Tot Rtn & Incm Fd	Lazard	0.79	-9.77	7.60	36.67	27.41	242	771
RMT	Royce Micro-Cap Tr	Legg Mason	0.79	-10.57	7.81	15.72	5.40	394	1,158
RVT	Royce Val Tr	Legg Mason	1.21	-10.04	6.95	0.83	4.33	1,580	3,711
TDF	Tmp Dragon Fd	Templeton	0.78	-12.13	5.10	0.00	0.00	741	1,174
TY	Tri-Cont Corp	Columbia Mngmt	1.22	-8.37	3.48	0.00	2.30	1,675	1,271
USA	Liberty All-Star Eq Fd	ALPS	1.24	0.00	9.94	0.00	0.00	1,400	5,148
EXG	EV Tx-Mgd Glbl Divr Eq Incm	Eaton Vance	0.19	-2.18	8.24	87.55	0.00	2,777	5,252
BDJ	BR Enh Eq Div Tr	BlackRock	0.18	-4.02	6.28	0.00	0.00	1,868	4,628
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	0.19	3.55	8.78	93.93	0.00	1,203	4,606
ETY	EV Tx-Mgd Divr Eq Incm Fd	Eaton Vance	0.19	1.45	8.01	67.82	0.00	1,870	3,619
NFJ	AG NFJ Div Int & Prm Stgy	Allianz	0.20	-8.91	6.77	48.00	0.00	1,383	2,871
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	0.19	-0.57	8.40	63.41	0.00	1,123	2,690
BST	BR Sci & Tech Tr	BlackRock	0.20	2.15	5.73	0.00	0.00	777	2,833
BXMX	Nuv S&P 500 By-Wrt Inc Fd	Nuveen	0.19	-1.09	6.81	82.66	0.00	1,435	2,379
BOE	BR Enh Glbl DivTr	BlackRock	0.19	-9.90	6.81	58.95	0.00	808	2,170
QQQX	Nuv Nasdaq 100 Dyn Owrt Fd	Nuveen	0.19	-0.57	6.39	94.88	0.00	970	2,169
EOS	EV Enh Eq Incm Fd II	Eaton Vance	0.20	2.39	6.44	23.25	0.00	866	1,810
CII	BR Enh Cap & Incm Fd	BlackRock	0.19	-3.34	6.04	39.65	0.00	793	1,833
ETJ	EV Risk-Mgd Divr Eq Incm Fd	Eaton Vance	0.19	1.50	9.61	92.74	0.00	596	1,813
KYN	KA MLP/Midstream Inv Co	Kayne Anderson	0.20	-6.70	10.55	58.33	34.36	1,848	15,393
TYG	Tortoise Nrg Infra Corp	Tortoise	0.21	-3.85	14.57	100.00	34.30	1,005	9,899
NTG	Tortoise Midstream Nrg Fd	Tortoise	0.20	-6.77	15.94	100.00	36.40	719	8,691
CEM	CB MLP & Midstream Fd	Legg Mason	0.20	-9.14	10.70	96.00	32.57	855	5,801
EMO	CB Nrg Midstream Opp Fd	Legg Mason	0.21	-11.46	11.03	78.75	33.11	676	4,312
CEN	Center Coast Brkf MLP & Nrg Infr	Brookfield	0.21	3.24	19.63	100.00	30.07	264	4,332
FEI	FT MLP & Nrg Incm Fd	First Trust	0.20	-3.52	10.43	92.07	25.64	560	3,241
KMF	KA Midstream/Nrg Fd	Kayne Anderson	0.20	-14.01	8.68	92.83	32.15	569	3,134
FMO	F/C Nrg Infra Fd	Guggenheim Funds	0.21	-6.52	16.40	100.00	35.54	299	2,747
NML	NB MLP Incm Fd	Neuberger Berman	0.21	-10.11	9.76	100.00	25.80	426	2,741
MIE	C&S MLP Incm & Nrg Opp Fd	Cohen & Steers	0.20	3.83	9.49	99.16	33.60	196	2,475
GER	GS MLP & Nrg Renaissance Fd	Goldman Sachs	0.20	-6.77	15.50	100.00	38.19	352	2,592
RQI	C&S Qlty Incm Rty Fd	Cohen & Steers	0.78	-6.33	6.76	0.00	21.70	1,655	6,090
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Clarion	0.83	-9.75	7.36	68.33	12.84	1,053	2,558
AWP	Abd Glbl Prmr Prop Fd	Aberdeen	0.84	-10.39	7.23	67.78	5.65	633	2,467
HQH	Tekla Health Invstr	Tekla	0.83	-10.00	7.92	62.72	0.00	985	3,665
THQ	Tekla Health Opp Fd	Tekla	0.82	-9.82	7.17	77.38	22.40	865	2,424
HQL	Tekla Life Sci Invstr	Tekla	0.81	-9.48	7.72	41.69	0.00	438	1,733
GGN	GAMCO Glbl Gd NtrRes Incm	Gabelli	0.79	2.83	13.76	92.17	12.00	592	3,781
BCX	BR Res & Com Stgy Tr	BlackRock	0.81	-9.36	7.80	66.51	0.00	798	2,375
BGR	BR Nrg & Res Tr	BlackRock	0.82	-1.32	7.81	56.23	0.00	360	2,594
CSQ	Calamos Stgc Tot Rtn Fd	Calamos	0.42	-1.00	8.01	56.96	30.00	2,166	3,365
TEAF	Tortoise Ess Ast Incm Trm Fd	Tortoise	0.42	-7.69	7.64	0.00	12.80	249	2,310
NIE	AG Eq & Convt Incm Fd	Allianz	0.44	-6.22	6.38	0.00	0.00	704	1,500
ZTR	Virtus Glbl Div & Inc Fd	Virtus	0.41	5.13	11.82	80.31	27.42	516	1,610
GLO	Clough Glbl Opp Fd	Clough	0.43	-11.44	10.95	55.46	41.36	358	1,399
RIV	RiverNorth Opp Fd	RiverNorth	0.43	-0.64	12.69	61.64	9.78	160	1,055
UTF	C&S Infra Fd	Cohen & Steers	0.51	-4.29	6.84	0.23	26.80	2,424	8,238
DNP	DNP Sel Incm Fd	Duff & Phelps	0.50	16.70	6.03	30.13	24.63	3,334	4,747
UTG	Reaves Util Incm Fd	W.H. Reaves	0.51	0.86	5.58	0.00	19.97	2,183	3,920
DPG	D&P Util & Infra Fd	Duff & Phelps	0.51	-7.46	8.89	52.71	29.36	646	1,570
GUT	Gabelli Util Tr	Gabelli	0.50	54.76	7.53	98.00	28.00	278	1,177
IAE	Voya AP Hi Div Eq Incm Fd	Voya	1.03	-8.04	9.90	63.68	0.00	112	398
CUBA	Herzfeld Caribbean Basin Fd	Herzfeld Cuba	0.99	-16.42	17.07	81.10	0.00	49	140
BTO	JH Fin Opp Fd	John Hancock	0.95	-0.49	6.34	17.25	15.53	651	1,475

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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