CEF Advisors AICA Event NAVigator Podcast

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01. 15 Major CEF Sectors Index

Data as of

About the Index

The seven most liquid funds by 90-day average trading dollar $ liquidity in each of the 15 major groupings of funds: Business Development Companies (BDCs), Convertible Bonds, Covered Call Funds, Global Equity, High Yield Bonds, Investment Grade Bonds, Master Limited Partnership (MLP), Municipal Bonds, Preferred Equity, REITs/Real Assets, Senior Loans, US Equity, Hybrid / Balanced Funds, Multi-sector Bonds and International Bonds . For Hybrid / Balanced Funds and Multi-sector Bonds sectors, the selection allows only the most liquid fund from each sponsor. From the selected funds, we exclude the least liquid 5 funds. Each sector has equal weight in the index (6.66%), which is distributed equally to funds within that sector. The index constituents will be rebalanced each quarter.

As of June 30, 2022, we updated the index rules to cover 3 more major sectors. Click here to see the previous index rules, used since 2017 for the index.
The seven most liquid funds by 90-day average trading dollar $ liquidity in each of the 12 major groupings of funds: Business Development Companies (BDCs), Convertible Bonds, Covered Call Funds, Global Equity, High Yield Bonds, Investment Grade Bonds, Master Limited Partnership (MLP), Municipal Bonds, Preferred Equity, REITs/Real Assets, Senior Loans, and US Equity. Combine leverage and non-leverage groupings into one grouping when calculating the seven funds. The funds will be equal weight in the index. If there are less than seven available funds in a specific grouping, then equal weight the grouping with the smaller number of funds available. Each group will be 1/12 of the indexes over-all 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 1,632.57 0.06 -0.78 2.13 6.28 11.84 19.57 3.64 6.85 6.13 0.56 5.55 5.55
NAV 1,582.99 -0.11 -0.79 2.22 4.12 9.60 16.69 3.69 6.39 5.71 0.41 2.71 2.71
Difference -0.16 -0.01 0.09 -2.16 -2.24 -2.88 0.05 -0.46 -0.42 -0.15 -2.84 -2.84
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.07
2024 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 2.69 2.21 - - - - - - - - - - - - - - - - -
NAV 0.41 1.87 - - - - - - - - - - - - - - - - -
Difference -2.27 -0.34 - - - - - - - - - - - - - - - - -
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 10.20 -2.35 -3.17 4.20 1.04 -1.76 4.95 4.18 8.55 3.72 -2.00 -3.94 -2.36 -3.75 8.58 3.78 8.46 5.90 14.96
NAV 6.07 -2.51 -0.13 3.28 0.95 -1.09 3.49 3.34 6.73 2.45 -1.36 -2.58 -1.55 -2.08 6.81 4.07 8.85 7.16 14.37
Difference -4.12 -0.16 3.04 -0.92 -0.09 0.67 -1.46 -0.84 -1.83 -1.27 0.64 1.35 0.80 1.67 -1.77 0.30 0.39 1.26 -0.59
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -2.87 -2.93 1.36 -4.43 -6.54 -1.01 -7.34 -14.28 -18.08 8.65 -1.77 -12.76 -6.90 5.43 6.66 -5.41 6.37 -0.97 -18.88
NAV -2.69 -1.26 0.86 -3.09 -5.00 -0.63 -6.55 -11.78 -14.50 6.09 -1.93 -7.47 -3.73 2.86 4.77 -2.35 5.23 1.31 -13.38
Difference 0.18 1.68 -0.50 1.35 1.54 0.38 0.79 2.50 3.58 -2.56 -0.16 5.30 3.17 -2.57 -1.89 3.06 -1.14 2.28 5.49
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 1.46 3.95 3.89 9.56 3.72 2.45 2.50 8.92 19.33 -0.21 1.61 -2.41 -1.04 3.97 -2.42 2.30 3.79 2.70 22.56
NAV 1.14 1.95 1.82 4.98 3.07 1.45 1.87 6.53 11.83 0.43 1.31 -1.46 0.26 2.88 -2.02 2.08 2.89 3.15 15.36
Difference -0.32 -2.00 -2.07 -4.58 -0.65 -1.00 -0.62 -2.39 -7.50 0.63 -0.30 0.95 1.30 -1.10 0.40 -0.21 -0.89 0.45 -7.20
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price 0.68 -9.54 -23.04 -29.90 13.04 6.26 0.65 20.89 -15.26 3.84 3.38 -2.95 4.18 -0.87 13.74 3.94 17.19 22.09 3.46
NAV 0.34 -4.58 -19.13 -22.57 10.70 4.15 1.68 17.23 -9.23 4.07 2.61 -1.94 4.72 0.16 8.62 3.31 12.39 17.70 6.84
Difference -0.34 4.96 3.91 7.33 -2.33 -2.12 1.03 -3.66 6.03 0.24 -0.77 1.02 0.55 1.03 -5.12 -0.63 -4.80 -4.38 3.39
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 11.53 2.07 1.77 15.86 2.43 -2.69 4.19 3.86 20.33 1.78 -1.38 1.96 2.34 0.01 1.05 2.90 3.99 6.42 28.05
NAV 6.68 1.83 1.94 10.74 1.54 -2.04 3.20 2.66 13.69 0.80 -0.58 1.01 1.23 0.37 0.44 2.77 3.60 4.88 19.23
Difference -4.85 -0.24 0.17 -5.11 -0.88 0.65 -0.99 -1.20 -6.64 -0.98 0.80 -0.95 -1.11 0.36 -0.61 -0.13 -0.38 -1.54 -8.82
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 1.13 -2.81 -0.73 -2.43 1.98 1.74 -0.66 3.07 0.56 1.90 1.54 -1.24 2.19 -7.33 0.72 -6.53 -12.76 -10.85 -10.35
NAV 2.27 -3.20 -0.88 -1.88 1.09 1.38 -0.04 2.45 0.52 1.95 1.22 -0.43 2.74 -4.17 0.08 -4.17 -8.10 -5.57 -5.08
Difference 1.14 -0.39 -0.15 0.54 -0.88 -0.35 0.62 -0.62 -0.05 0.05 -0.32 0.81 0.55 3.16 -0.64 2.36 4.67 5.28 5.26
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 3.20 2.74 -0.12 5.91 2.79 0.09 0.94 3.84 9.97 1.94 -1.40 1.97 2.49 -0.71 -0.50 2.32 1.10 3.61 13.94
NAV 1.55 1.95 0.26 3.79 1.07 0.64 0.68 2.41 6.29 1.43 -0.21 1.10 2.32 0.39 0.48 1.67 2.54 4.93 11.53
Difference -1.65 -0.79 0.37 -2.11 -1.71 0.55 -0.25 -1.43 -3.68 -0.51 1.19 -0.87 -0.16 1.09 0.97 -0.66 1.45 1.31 -2.41
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -4.92 0.29 6.86 1.90 3.56 1.14 2.65 7.52 9.55 4.00 1.22 -0.56 4.68 -3.13 0.12 2.42 -0.67 3.99 13.92
NAV -3.97 -0.86 4.98 -0.06 2.73 1.33 1.27 5.41 5.35 2.81 0.64 0.37 3.85 -1.11 -0.56 1.67 -0.02 3.82 9.38
Difference 0.95 -1.15 -1.88 -1.96 -0.82 0.19 -1.39 -2.10 -4.21 -1.20 -0.58 0.93 -0.84 2.02 -0.68 -0.76 0.64 -0.16 -4.54
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 1.44 2.83 -0.43 3.86 1.53 -0.75 -4.57 -3.84 -0.13 -1.25 -3.50 -4.33 -8.83 6.51 -1.53 -1.81 2.99 -6.10 -6.22
NAV 0.52 2.32 -0.16 2.69 1.26 0.22 -2.34 -0.89 1.77 -0.16 -3.49 -3.31 -6.83 4.37 -1.43 -2.33 0.49 -6.37 -4.71
Difference -0.92 -0.52 0.28 -1.17 -0.27 0.97 2.23 2.94 1.90 1.09 0.01 1.02 2.00 -2.14 0.10 -0.52 -2.50 -0.27 1.51
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price 1.18 3.23 0.29 4.75 1.54 2.10 1.89 5.62 10.64 -2.13 2.81 -2.86 -2.26 1.19 0.87 -1.81 0.22 -2.04 8.38
NAV 0.98 2.68 0.78 4.50 1.28 1.88 1.79 5.04 9.76 -0.87 2.30 -1.87 -0.49 0.93 0.57 -1.12 0.37 -0.12 9.63
Difference -0.19 -0.55 0.49 -0.25 -0.26 -0.21 -0.09 -0.59 -0.88 1.26 -0.52 0.99 1.77 -0.26 -0.30 0.69 0.15 1.92 1.25
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 5.93 0.83 1.65 8.57 1.42 -2.58 -2.12 -3.29 5.00 0.48 -3.07 2.33 -0.33 2.99 -0.32 1.27 3.96 3.61 8.80
NAV 3.52 0.55 1.72 5.87 2.11 -0.29 -2.81 -1.04 4.77 2.14 -1.99 2.72 2.83 2.57 0.50 0.64 3.75 6.68 11.77
Difference -2.40 -0.29 0.06 -2.70 0.69 2.29 -0.69 2.25 -0.23 1.66 1.08 0.38 3.16 -0.42 0.83 -0.62 -0.21 3.07 2.97
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 6.89 3.27 0.07 10.46 0.88 -3.66 3.57 0.66 11.19 2.60 2.21 2.46 7.44 -0.52 -0.37 0.49 -0.40 7.01 18.98
NAV 4.39 2.58 0.74 7.88 0.83 -3.41 2.34 -0.33 7.52 2.35 1.49 2.16 6.11 0.55 0.62 1.23 2.42 8.67 16.85
Difference -2.50 -0.69 0.67 -2.58 -0.04 0.25 -1.24 -0.99 -3.67 -0.25 -0.72 -0.30 -1.33 1.07 0.99 0.74 2.81 1.66 -2.13

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-3.55%
1Yr Disc
-5.44%
3Yr Disc
-2.98%
5Yr Disc
-3.17%
Rel Disc Range (3yr)
43.94%
Mkt Yield
9.68%
Lev Adj NAV Yield
7.66%
After Tax Yield*
8.15%
Est Tax Friction*
1.53%
3Yr NAV Volatiliy
12.03
1 Yr RoC
37.66%
3 Yr Dest RoC
22.81%
Leverage
23.53%
Non Lev Exp Ratio
1.66%
Beta (2yr)
0.72
Equity Exposure
37.78%
Bond Exposure
59.77%
# Holdings
100
Cash Weighted Duration
2.97
Comp NAV TR
1.53%
Comp Discount
2.90%
Net Assets (M)
1,304
Liquidity - 90d (K)
5,260
* 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


100 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
JPC Nuv Pref & Incm Opp Fd Nuveen 0.96 -10.23 8.02 0.00 37.82 2,530 7,453
PTA Tx-Adv Pref Sec Pref Sec & Incm Fd Cohen&Steers 0.98 -6.09 8.35 26.12 35.30 1,134 3,423
FPF FT Imd Dur Pref & Incm Fd First Trust 1.01 -6.02 9.27 14.41 33.43 1,152 3,581
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 0.96 -9.72 6.85 0.00 39.50 783 2,497
LDP C&S Ltd Dur Pref & Incm Fd Cohen&Steers 0.98 -6.27 7.96 19.45 34.50 612 2,220
PDT JH Prm Div Fd John Hancock 1.01 -1.92 8.41 13.81 39.28 590 1,793
HPS JH Pref Incm Fd III John Hancock 0.97 4.19 8.84 16.51 37.80 457 989
ARCC Ares Capital Corp Ares 0.91 4.94 9.51 0.00 49.93 11,204 76,464
BXSL Blackstone Secur Lending Fd Blackstone 1.02 13.99 10.13 0.00 48.47 5,108 30,590
FSK FS KKR Capital Corp FS/KKR 0.87 -24.45 13.85 0.00 53.16 6,850 33,600
OBDC Blue Owl Cap Corp Blue Owl 0.96 -1.49 9.72 0.00 52.38 6,021 29,499
HTGC Hercules Capital Hercules 1.00 58.09 8.85 0.00 45.50 1,810 17,264
MAIN Main Street Cap Corp Main Street Capital 0.98 58.22 6.23 0.00 40.56 2,481 17,000
OCSL Oaktree Splty Lending Oaktree Capital 0.85 0.31 11.46 0.00 49.68 1,511 13,683
RQI C&S Qlty Incm Rty Fd Cohen&Steers 0.87 -6.43 8.25 7.00 28.80 1,672 5,170
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 0.89 -6.93 13.74 23.43 25.02 788 4,125
RNP C&S REIT & Pref Incm Fd Cohen&Steers 0.94 0.93 7.91 0.00 31.20 976 2,511
AWP abrdn Glbl Prmr Prop Fd abrdn 0.90 -6.70 12.77 76.75 19.63 344 1,330
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 0.91 -10.97 9.51 65.98 34.40 261 1,194
RFI C&S Tot Rtn Rty Fd Cohen&Steers 0.91 1.74 8.23 25.89 0.00 304 851
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 0.89 -14.34 10.57 37.03 29.31 363 802
CHI Calamos Convt Opp & Incm Calamos 1.00 13.03 10.11 39.14 37.35 750 2,120
CHY Calamos Convt & Hi Incm Fd Calamos 0.96 13.16 10.04 41.20 37.48 809 1,642
NCV Virtus Convt & Incm Fd Virtus 0.89 -12.77 12.71 87.87 37.54 333 1,332
NCZ Virtus Convt & Incm Fd II Virtus 0.88 -13.46 12.72 88.74 38.54 249 1,638
CCD Calamos Dyn Convt & Incm Fd Calamos 1.03 15.66 10.53 33.93 37.03 514 2,110
AVK Advent Convt & Incm Fd Guggenheim Funds 0.96 -3.73 11.86 72.27 41.93 426 1,351
ACV Virtus Divr Incm & Convt Fd Virtus 1.03 9.57 9.25 93.75 32.69 221 943
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 0.95 -11.84 8.25 76.67 0.00 2,793 4,394
BDJ BR Enh Eq Div Tr BlackRock 0.95 -11.74 8.46 17.46 0.00 1,681 4,735
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.98 -6.05 7.41 0.00 0.00 2,185 3,274
BST BR Sci & Tech Tr BlackRock 0.98 0.06 8.30 74.59 0.00 1,253 3,966
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 0.90 -9.84 7.24 37.57 0.00 1,256 3,022
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 0.95 -13.35 8.68 46.74 0.00 1,018 2,473
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 0.96 -6.93 8.83 57.23 0.00 1,618 3,361
JFR Nuv Flt Rt Incm Fd Nuveen 0.97 -6.89 11.79 1.93 38.04 1,245 5,961
FSCO FS Cr Opp Corp FS/KKR 0.96 -16.36 12.24 0.00 33.41 1,394 4,227
JQC Nuv Cr Stgs Incm Fd Nuveen 0.98 -6.09 11.68 3.69 38.10 801 4,173
VVR Invsc Sr Incm Tr Invesco 0.95 2.93 12.26 14.55 31.36 626 2,915
XFLT XAI Octgn Flt Rt & Alt Incm Tr XA Investments 0.91 2.46 14.43 0.00 39.28 366 2,316
AIF Apollo Tactical Incm Fd Apollo 0.99 1.21 10.96 0.00 36.15 216 2,035
BGB Blackstone Stgc Cr 2027 Trm Fd Blackstone 0.96 -7.79 9.43 0.00 36.68 573 1,971
KYN KA Nrg Infra Fd Kayne Anderson 1.00 -14.56 9.25 9.88 23.81 1,882 5,592
CEM CB MLP & Midstream Fd Franklin Templeton 1.00 -8.20 7.04 33.18 30.49 634 2,024
TYG Tortoise Nrg Infra Corp Tortoise 0.94 -20.08 9.73 42.07 21.20 393 1,358
EMO CB Nrg Midstream Opp Fd Franklin Templeton 1.02 -8.28 6.92 21.51 30.49 540 1,157
NML NB Nrg Infra & Incm Fd Neuberger Berman 0.95 -13.75 9.80 91.67 18.85 470 1,557
SRV NXG Cushing Midstream Nrg Fd Cushing 1.10 3.60 13.39 76.33 25.47 113 1,423
FEI FT MLP & Nrg Incm Fd First Trust 1.01 -2.69 6.39 18.91 17.85 436 1,150
HYT BR Corp Hi Yld Fd BlackRock 0.94 0.73 9.66 20.15 24.46 1,372 4,415
DLY DbLin Yld Opp Fd Doubleline 0.96 -2.81 8.98 3.48 19.96 769 3,493
ACP abrdn Incm Cr Stgs Fd abrdn 0.96 -2.53 17.29 23.75 28.51 371 2,249
GHY PGIM Glbl Hi Yld Fd Prudential 0.94 -9.75 10.81 33.94 21.52 529 2,221
KIO KKR Incm Opp Fd KKR Credit 0.96 -3.87 11.06 0.00 37.44 372 1,810
EAD Allspring Incm Opp Fd Allspring 0.93 -9.48 9.42 0.00 30.30 430 1,247
ISD PGIM Hi Yld Bnd Fd Prudential 0.96 -6.96 9.82 25.08 20.74 459 1,699
PTY PIMCO Corp & Incm Opp Fd PIMCO 1.78 28.77 9.83 14.63 26.52 1,708 8,213
PCN PIMCO Corp & Incm Stgy Fd PIMCO 1.79 18.35 9.88 14.73 17.48 622 3,105
RCS PIMCO Stgc Incm Fd PIMCO 1.63 39.64 9.98 0.67 36.72 202 894
MIN MFS Imd Incm Tr MFS 1.58 -7.04 9.23 59.24 0.00 324 942
CLM Cornerstone Stgc Val Fd Cornerstone 0.94 5.35 17.90 48.85 0.00 1,622 10,339
BIGZ BR Innovation & Gwth Trm Tr BlackRock 0.97 -14.03 6.86 100.00 0.00 2,031 7,259
CRF Cornerstone Tot Rtn Fd Cornerstone 0.95 9.53 17.19 53.20 0.00 729 4,626
USA Liberty All-Star Eq Fd ALPS 1.02 -2.14 9.93 0.00 0.00 1,957 6,030
RVT Royce Val Tr Franklin Templeton 0.88 -12.93 7.57 4.71 1.87 1,860 3,535
GDV Gabelli Div & Incm Tr Gabelli 0.93 -16.80 5.95 24.42 13.00 2,400 4,336
EVT EV Tx-Adv Div Incm Fd Eaton Vance 0.93 -11.41 7.90 7.03 19.70 1,902 2,890
BSTZ BR Sci & Tech Trm Tr BlackRock 1.01 -15.52 6.73 77.78 0.00 1,661 6,049
AOD abrdn Tot Dyn Div Fd abrdn 0.93 -15.00 8.46 34.59 1.44 1,012 2,527
IFN India Fund abrdn 1.02 15.35 8.51 0.00 0.00 539 2,645
BGY BR Enh Intl DivTr BlackRock 0.94 -13.56 7.48 56.78 0.00 629 1,218
IGD Voya Glbl Eq Div & Prm Opp Voya 0.97 -12.77 9.25 66.08 0.00 469 1,133
IIF MS India Inv Fd Morgan Stanley 1.09 -17.93 7.22 0.00 0.00 273 1,092
HGLB Highland Glbl Alloc Fd NexPoint 0.90 -32.81 12.72 0.00 3.11 258 717
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 0.91 -14.16 5.52 5.68 38.90 3,821 9,755
NAD Nuv Qlty Muni Incm Fd Nuveen 0.90 -14.55 5.53 0.00 40.18 3,081 7,256
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 0.92 -13.63 5.76 3.84 39.88 2,962 7,334
NZF Nuv Muni Cr Incm Fd Nuveen 0.92 -13.30 5.75 0.00 38.97 2,679 6,626
NUV Nuv Muni Val Fd Nuveen 0.91 -8.09 4.03 0.00 1.09 1,949 4,327
NAC Nuv CA Qlty Muni Inc Fd Nuveen 0.91 -13.73 5.32 1.48 40.62 1,855 3,751
NMZ Nuv Muni Hi Incm Opp Fd Nuveen 0.96 -7.51 5.44 0.00 38.74 1,251 4,071
ECAT BR ESG Cap Alloc Trm Tr BlackRock 0.94 -10.94 10.89 68.85 0.00 1,891 4,985
CSQ Calamos Stgc Tot Rtn Fd Calamos 0.97 -2.76 7.77 16.67 31.10 2,610 3,608
AIO Virtus AI & Tech Opp Fd Virtus 1.02 -9.37 9.35 72.66 15.52 729 2,769
GUG Gghm Active Alloc Fd Guggenheim Funds 0.92 -10.48 9.65 37.83 21.17 544 1,716
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 0.94 -12.49 7.86 15.68 0.00 583 1,641
NMAI Nuv Multi-Asset Incm Fd Nuveen 0.87 -12.57 13.46 53.25 26.45 455 956
RIV RiverNorth Opp Fd RiverNorth 0.98 -6.50 13.27 71.11 31.95 268 1,075
PDI PIMCO Dyn Incm Fd PIMCO 0.99 11.23 13.92 19.62 37.97 4,992 29,165
GOF Gghm Stgc Opp Fd Guggenheim Funds 1.06 21.41 14.94 57.53 19.23 1,652 11,314
DSL DbLin Incm Solutions Fd Doubleline 0.94 0.08 10.54 7.95 23.21 1,283 5,390
RA Brkf Real Ast Incm Fd Brookfield 0.92 -12.88 11.02 54.94 16.96 819 3,766
BTZ BR Cr Alloc Incm Tr BlackRock 0.96 -4.32 9.28 31.59 36.12 1,058 3,256
WDI WA Divr Incm Fd Franklin Templeton 0.94 -8.26 11.93 0.00 31.53 815 2,877
HFRO Highland Opp & Incm Fd NexPoint 0.74 -51.21 7.42 0.00 16.14 872 2,705
FAX abrdn Asia-Pacific Incm Fd abrdn 1.32 -10.16 12.04 44.97 30.31 755 2,376
EMD WA Emrg Mkt Dbt Fd Franklin Templeton 1.30 -11.97 10.94 35.26 29.08 615 2,337
SABA Saba Cap Incm & Opp Fd II Saba Capital 1.28 -13.10 9.21 31.89 0.00 246 1,110
EDD MS Emrg Mkt Dom Dbt Morgan Stanley 1.31 -13.66 7.59 0.00 6.15 358 1,268
TEI Tmp Emrg Mkt Incm Fd Franklin Templeton 1.34 -12.66 10.73 0.00 15.37 287 790

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 %