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. We manually have removed DXYZ from firm benchmarks.

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 1,876.29 0.21 0.60 -1.30 1.55 1.04 12.90 5.38 16.99 6.76 0.79 0.79 1.55
NAV 1,759.52 0.34 0.59 -0.78 1.25 0.98 9.54 5.07 13.12 5.91 0.87 0.87 1.25
Difference 0.13 -0.01 0.51 -0.30 -0.06 -3.36 -0.31 -3.87 -0.86 0.09 0.09 -0.30
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.07
2025 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2025
Price 3.30 -0.30 -2.17 0.76 - - - - - - - - - - - - - - -
NAV 2.01 0.27 -1.87 0.37 - - - - - - - - - - - - - - -
Difference -1.29 0.57 0.30 -0.39 - - - - - - - - - - - - - - -
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 3.14 8.25 -2.83 3.51 2.04 2.63 11.10 2.97 2.27 2.52 7.96 -1.33 4.34 -3.26 -0.40 7.52 19.45
NAV 0.41 1.87 2.26 4.60 -1.98 2.50 1.27 1.75 6.44 1.94 2.12 1.82 6.00 -0.76 3.33 -2.54 -0.06 5.94 12.76
Difference -2.27 -0.34 -0.88 -3.65 0.86 -1.01 -0.77 -0.88 -4.66 -1.03 -0.14 -0.70 -1.96 0.57 -1.01 0.72 0.35 -1.58 -6.69
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
0.86%
1Yr Disc
0.07%
3Yr Disc
-2.91%
5Yr Disc
-2.31%
Rel Disc Range (3yr)
65.40%
Mkt Yield
10.46%
Lev Adj NAV Yield
8.73%
After Tax Yield*
8.88%
Est Tax Friction*
1.58%
3Yr NAV Volatiliy
11.91
1 Yr RoC
36.77%
3 Yr Dest RoC
23.89%
Leverage
23.25%
Non Lev Exp Ratio
1.64%
Beta (2yr)
0.64
Equity Exposure
36.22%
Bond Exposure
61.78%
# Holdings
98
Cash Weighted Duration
2.56
Comp NAV TR
0.72%
Comp Discount
3.65%
Net Assets (M)
1,450
Liquidity - 90d (K)
6,659
* 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


98 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
JPC Nuv Pref & Incm Opp Fd Nuveen 0.95 -0.25 10.06 7.19 37.90 2,558 7,346
PTA Tx-Adv Pref Sec Pref Sec & Incm Fd Cohen&Steers 0.96 -3.80 8.14 19.25 34.30 1,135 2,417
FPF FT Imd Dur Pref & Incm Fd First Trust 0.94 -3.84 9.04 27.29 34.91 1,156 2,150
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 0.95 -6.15 6.90 0.00 37.80 822 1,803
LDP C&S Ltd Dur Pref & Incm Fd Cohen&Steers 0.95 -5.89 7.69 3.44 33.10 632 1,450
PDT JH Prm Div Fd John Hancock 0.94 -5.84 7.59 7.76 35.52 682 1,415
NPFD Nuv Var Rt Pref & Incm Fd Nuveen 0.95 -5.83 10.72 23.42 37.08 481 1,345
ARCC Ares Capital Corp Ares 0.96 12.67 8.57 0.00 48.58 13,356 102,379
OBDC Blue Owl Cap Corp Blue Owl 0.95 -3.15 10.01 0.00 53.79 7,796 52,833
FSK FS KKR Capital Corp FS/KKR 0.99 -9.94 12.02 0.00 51.94 6,621 36,706
BXSL Blackstone Secur Lending Fd Blackstone 0.95 18.58 9.48 0.00 52.38 6,240 34,001
MAIN Main Street Cap Corp Main Street Capital 0.96 81.58 5.22 0.00 41.44 2,803 31,419
HTGC Hercules Capital Hercules 0.94 63.46 8.39 0.00 46.17 2,019 22,806
GBDC Golub Capital BDC Golub Capital 0.95 0.13 10.30 0.00 54.61 4,017 21,602
RQI C&S Qlty Incm Rty Fd Cohen&Steers 0.96 -3.57 7.55 15.27 29.20 1,772 4,461
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 0.95 1.97 13.93 59.97 31.62 744 3,943
RNP C&S REIT & Pref Incm Fd Cohen&Steers 0.96 5.10 7.27 0.90 30.90 1,021 2,620
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 0.96 -2.47 12.29 58.43 32.85 367 1,565
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 0.95 -5.22 8.55 73.64 34.60 272 1,311
AWP abrdn Glbl Prmr Prop Fd abrdn 0.95 2.36 12.31 80.95 11.70 328 1,247
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 0.95 -4.62 11.35 71.96 23.66 164 1,050
CHY Calamos Convt & Hi Incm Fd Calamos 1.12 2.70 11.70 33.18 37.17 784 2,653
CHI Calamos Convt Opp & Incm Calamos 1.13 3.49 11.66 32.31 37.07 726 2,198
AVK Advent Convt & Incm Fd Guggenheim Funds 1.10 -2.95 12.23 70.90 39.06 523 1,706
NCV Virtus Convt & Incm Fd Virtus 1.11 -10.37 12.51 98.04 36.82 329 1,662
CCD Calamos Dyn Convt & Incm Fd Calamos 1.11 21.05 10.88 28.07 37.37 480 1,265
NCZ Virtus Convt & Incm Fd II Virtus 1.12 -9.39 12.23 98.06 37.67 247 1,097
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 0.95 -8.19 9.64 35.49 0.00 2,726 4,940
BST BR Sci & Tech Tr BlackRock 0.97 -3.03 8.86 14.66 0.00 1,213 4,914
BDJ BR Enh Eq Div Tr BlackRock 0.95 -6.20 8.62 7.84 0.00 1,626 3,907
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.95 -0.28 8.32 0.00 0.00 2,259 3,785
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 0.98 -9.89 9.31 26.66 0.00 1,303 3,645
EOS EV Enh Eq Incm Fd II Eaton Vance 0.96 -0.09 8.56 38.57 0.00 1,120 3,167
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 0.95 -4.93 8.95 30.59 0.00 1,635 2,994
JFR Nuv Flt Rt Incm Fd Nuveen 0.95 -3.53 12.04 7.12 34.59 1,413 10,022
FSCO FS Cr Opp Corp FS/KKR 0.94 -2.36 10.99 0.00 34.63 1,430 5,843
JQC Nuv Cr Stgs Incm Fd Nuveen 0.94 -6.83 12.18 13.85 38.44 774 4,890
VVR Invsc Sr Incm Tr Invesco 0.95 -0.53 12.13 16.39 34.36 580 3,815
XFLT XAI Octgn Flt Rt & Alt Incm Tr XA Investments 0.96 -2.15 15.61 5.98 39.60 458 3,500
FRA BR Flt Rt Incm Stgc Fd BlackRock 0.94 2.80 11.57 19.65 23.71 441 2,426
BGB Blackstone Stgc Cr 2027 Trm Fd Blackstone 0.94 -3.52 8.86 0.00 37.27 558 2,298
KYN KA Nrg Infra Fd Kayne Anderson 1.34 -12.82 7.39 4.91 15.27 2,520 5,741
TYG Tortoise Nrg Infra Corp Tortoise 1.34 -10.62 10.05 88.95 20.00 841 4,768
EMO CB Nrg Midstream Opp Fd Franklin Templeton 1.36 -10.07 8.54 0.00 26.57 1,024 2,108
NML NB Nrg Infra & Incm Fd Neuberger Berman 1.35 -11.04 7.63 100.00 17.75 585 1,733
SRV NXG Cushing Midstream Nrg Fd Cushing 1.32 0.30 12.28 94.49 23.57 176 1,622
HYT BR Corp Hi Yld Fd BlackRock 0.94 0.42 9.77 16.97 23.54 1,495 5,993
ACP abrdn Incm Cr Stgs Fd abrdn 0.94 -4.55 15.82 39.62 27.89 773 4,288
GHY PGIM Glbl Hi Yld Fd Prudential 0.95 3.60 9.33 30.87 19.99 534 3,270
KIO KKR Incm Opp Fd KKR Credit 0.94 -4.38 11.93 0.00 35.15 531 3,010
DSU BR Dbt Stgs Fd BlackRock 0.95 0.97 11.35 20.58 14.37 558 2,516
DLY DbLin Yld Opp Fd Doubleline 0.95 1.39 8.70 3.08 17.48 764 2,053
HIO WA Hi Incm Opp Fd Franklin Templeton 0.95 -2.47 10.78 23.11 0.00 385 2,025
PTY PIMCO Corp & Incm Opp Fd PIMCO 2.23 24.53 9.82 16.89 10.62 2,121 9,508
PCN PIMCO Corp & Incm Stgy Fd PIMCO 2.22 15.79 9.90 12.81 3.28 755 2,745
RCS PIMCO Stgc Incm Fd PIMCO 2.22 38.98 7.69 7.02 32.89 209 1,348
CLM Cornerstone Stgc Inv Fd Cornerstone 0.95 17.80 19.64 71.02 0.00 1,595 15,465
CRF Cornerstone Tot Rtn Fd Cornerstone 0.95 20.03 19.33 73.34 0.00 711 7,621
ADX Adams Divr Eq Fd Adams Funds 0.96 -10.47 9.77 3.42 0.00 2,528 5,886
BTX BR Tech & Pvt Eq Trm Tr BlackRock 0.95 -5.86 16.19 100.00 0.00 1,419 5,161
USA Liberty All-Star Eq Fd ALPS 0.95 -1.49 10.30 0.00 0.00 1,936 5,157
RVT Royce Small-Cap Tr Franklin Templeton 0.96 -8.01 8.29 0.15 1.72 1,851 3,929
EVT EV Tx-Adv Div Incm Fd Eaton Vance 0.95 -8.90 8.46 0.00 18.90 1,911 3,297
BSTZ BR Sci & Tech Trm Tr BlackRock 0.97 -6.18 14.60 52.71 0.00 1,370 4,732
AOD abrdn Tot Dyn Div Fd abrdn 0.95 -9.16 14.23 41.12 2.78 978 4,326
IFN India Fund abrdn 0.94 -6.01 11.76 0.00 0.00 655 3,000
BGY BR Enh Intl DivTr BlackRock 0.94 -7.28 9.13 37.65 0.00 561 1,883
IGD Voya Glbl Eq Div & Prm Opp Voya 0.93 -7.47 10.53 80.58 0.00 486 1,489
AEF abrdn Emrg Mkt ex-China Fd abrdn 0.95 -13.49 12.00 94.07 11.88 235 1,316
AGD abrdn Glbl Dyn Div Fd abrdn 0.95 -6.72 13.20 37.42 4.18 267 1,150
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 0.95 -6.04 7.82 34.22 40.09 3,564 10,168
NAD Nuv Qlty Muni Incm Fd Nuveen 0.95 -6.94 7.86 29.75 40.89 2,892 7,983
NZF Nuv Muni Cr Incm Fd Nuveen 0.95 -5.76 7.78 21.55 39.62 2,522 5,983
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 0.95 -5.34 7.63 29.51 40.14 2,801 5,570
NAC Nuv CA Qlty Muni Inc Fd Nuveen 0.95 -5.69 7.82 43.47 40.74 1,731 4,472
NUV Nuv Muni Val Fd Nuveen 0.95 -4.37 4.45 0.00 2.89 1,901 3,579
NMZ Nuv Muni Hi Incm Opp Fd Nuveen 0.95 0.28 7.21 10.84 39.35 1,231 2,861
BCAT BR Cap Alloc Trm Tr BlackRock 0.96 -6.41 23.39 89.82 0.00 1,636 7,084
PDX PIMCO Dyn Incm Stgy Fd PIMCO 0.96 -2.35 6.43 5.42 23.85 1,140 6,430
CSQ Calamos Stgc Tot Rtn Fd Calamos 0.96 -2.49 7.49 15.96 31.37 2,701 3,579
AIO Virtus AI & Tech Opp Fd Virtus 0.95 -0.05 8.64 0.00 14.38 717 2,060
NMAI Nuv Multi-Asset Incm Fd Nuveen 0.98 -8.70 13.84 77.44 29.29 442 1,468
GUG Gghm Active Alloc Fd Guggenheim Funds 0.95 -7.77 9.38 31.98 28.04 544 1,310
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 0.94 -8.86 7.03 0.00 0.00 626 1,193
PDI PIMCO Dyn Incm Fd PIMCO 0.96 17.09 13.32 24.10 30.43 6,247 44,055
GOF Gghm Stgc Opp Fd Guggenheim Funds 0.95 36.41 13.95 56.97 16.94 1,907 16,209
DSL DbLin Incm Solutions Fd Doubleline 0.94 1.21 10.54 11.52 22.05 1,362 4,736
BTZ BR Cr Alloc Incm Tr BlackRock 0.95 -4.37 9.38 27.22 34.34 1,047 2,667
RA Brkf Real Ast Incm Fd Brookfield 0.95 -9.78 10.74 15.54 24.24 808 2,617
WDI WA Divr Incm Fd Franklin Templeton 0.96 -2.76 12.32 0.00 32.02 771 2,528
AWF AB Glbl Hi Incm Fd AllianceBernstein 0.95 -4.01 7.29 0.00 15.24 968 2,497
FAX abrdn Asia-Pacific Incm Fd abrdn 0.96 -5.19 12.46 47.33 38.19 692 2,270
EMD WA Emrg Mkt Dbt Fd Franklin Templeton 0.95 -6.63 10.95 26.01 24.50 614 2,045
EDD MS Emrg Mkt Dom Dbt Morgan Stanley 0.95 -7.06 13.50 0.00 17.34 329 1,135
TEI Tmp Emrg Mkt Incm Fd Franklin Templeton 0.96 -4.87 10.42 0.00 19.26 272 925
EDF Virtus SH Emrg Mkt Incm Fd Virtus 0.93 7.13 14.52 21.25 25.06 136 661
MSD MS Emrg Mkt Dbt Fd Morgan Stanley 0.94 5.42 11.03 0.00 0.00 153 611
BWG BwGlobal Glbl Incm Opp Fd Franklin Templeton 0.96 -6.53 11.37 40.12 39.55 152 614

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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Class E Units       8% PIK             8.00 %   11/6/2021     4,055,099       4,055,099       4,055,099       2.32 %