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 1,418.32 0.80 2.77 1.68 -2.09 -0.40 -4.24 7.96 4.10 5.34 1.92 1.17 5.42
NAV 1,411.88 0.96 2.07 1.32 1.11 1.65 -1.63 7.25 4.60 5.31 1.60 1.45 4.78
Difference 0.15 -0.70 -0.36 3.20 2.05 2.61 -0.70 0.50 -0.04 -0.32 0.28 -0.64
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
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 - - - - - - - - - - - - -
NAV 6.07 -2.51 -0.13 3.28 0.95 -1.09 - - - - - - - - - - - - -
Difference -4.13 -0.16 3.04 -0.92 -0.09 0.67 - - - - - - - - - - - - -
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 0.17 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 -1.13 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 1.81 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 -4.59 -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 19.24
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 2.26 -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 -8.09 -5.57 -5.08
Difference 1.14 -0.39 -0.15 0.54 -0.88 -0.36 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 -4.20 -1.20 -0.58 0.93 -0.84 2.02 -0.68 -0.75 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 -6.82 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 1.50
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 0.70 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 1.71 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 8.68 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
-6.52%
1Yr Disc
-5.21%
3Yr Disc
-3.43%
5Yr Disc
-3.54%
Rel Disc Range (3yr)
33.78%
Mkt Yield
10.04%
Lev Adj NAV Yield
7.68%
After Tax Yield*
8.41%
Est Tax Friction*
1.63%
3Yr NAV Volatiliy
13.21
1 Yr RoC
37.89%
3 Yr Dest RoC
18.68%
Leverage
24.99%
Non Lev Exp Ratio
1.64%
Beta (2yr)
0.81
Equity Exposure
37.34%
Bond Exposure
60.23%
# Holdings
100
Cash Weighted Duration
2.80
Comp NAV TR
1.01%
Comp Discount
2.49%
Net Assets (M)
1,242
Liquidity - 90d (K)
4,249
* 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)
JPS Nuv Pref & Incm Sec Fd Nuveen 0.96 -10.85 7.03 0.00 36.44 1,498 4,766
PTA Tx-Adv Pref Sec Pref Sec & Incm Fd Cohen&Steers 0.91 -10.71 9.46 19.31 36.60 1,052 2,753
FPF FT Imd Dur Pref & Incm Fd First Trust 0.94 -10.42 8.34 6.09 34.21 1,051 2,445
JPC Nuv Pref & Incm Opp Fd Nuveen 0.94 -10.79 8.19 0.00 37.50 760 2,654
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 0.95 -7.69 7.57 0.00 42.40 720 2,121
LDP C&S Ltd Dur Pref & Incm Fd Cohen&Steers 0.95 -7.77 9.10 11.82 36.10 562 1,801
PDT JH Prm Div Fd John Hancock 0.88 -1.13 10.25 19.09 38.47 567 1,263
ARCC Ares Capital Corp Ares 0.98 3.47 10.06 0.00 51.18 10,048 61,564
BXSL Blackstone Secur Lending Fd Blackstone 1.01 -0.50 10.78 0.00 56.13 4,196 20,500
ORCC Owl Rock Capital Corp Owl Rock 1.05 -9.90 9.67 0.00 53.97 5,905 23,289
FSK FS KKR Capital Corp FS/KKR 1.04 -21.22 13.03 0.00 54.26 6,982 20,727
HTGC Hercules Capital Hercules 1.11 35.86 10.61 0.00 52.72 1,541 28,808
MAIN Main Street Cap Corp Main Street Capital 0.97 48.07 6.70 0.00 46.34 2,191 13,579
OCSL Oaktree Splty Lending Oaktree Capital 0.94 -4.78 11.75 0.00 51.95 1,515 8,678
RQI C&S Qlty Incm Rty Fd Cohen&Steers 0.91 -6.71 8.42 0.00 29.90 1,642 3,866
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 0.94 -12.94 13.90 12.36 31.09 833 3,655
RNP C&S REIT & Pref Incm Fd Cohen&Steers 0.91 -5.51 8.81 0.00 32.40 936 2,267
AWP abrdn Glbl Prmr Prop Fd abrdn 0.89 -8.83 12.57 72.08 13.78 358 1,082
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 0.95 -14.28 9.40 66.31 36.10 259 1,016
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 0.93 -15.95 9.21 42.11 29.84 370 891
RFI C&S Tot Rtn Rty Fd Cohen&Steers 0.89 -1.83 8.50 0.00 0.00 304 689
CHI Calamos Convt Opp & Incm Calamos 0.95 3.70 10.99 2.36 37.68 744 1,640
NCZ Virtus Convt & Incm Fd II Virtus 0.94 -14.41 12.37 88.67 43.87 259 1,386
CHY Calamos Convt & Hi Incm Fd Calamos 0.91 -1.42 11.54 4.77 37.82 802 1,752
CCD Calamos Dyn Convt & Incm Fd Calamos 1.07 22.22 9.82 0.00 37.19 516 1,846
AVK Advent Convt & Incm Fd Guggenheim Funds 0.95 -6.99 12.29 68.42 44.76 426 1,017
NCV Virtus Convt & Incm Fd Virtus 0.95 -14.14 12.44 86.36 43.62 345 1,883
ACV Virtus Divr Incm & Convt Fd Virtus 0.95 -8.16 11.35 31.83 32.99 215 758
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 0.96 -9.13 8.44 34.39 0.00 2,649 4,430
BST BR Sci & Tech Tr BlackRock 1.01 2.01 8.82 49.03 0.00 1,125 3,190
BDJ BR Enh Eq Div Tr BlackRock 0.91 -5.22 8.25 0.00 0.00 1,608 3,260
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.96 -2.88 8.19 12.26 0.00 1,907 2,707
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 0.93 -5.46 9.26 74.15 0.00 1,516 3,214
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 1.00 3.06 6.74 0.00 0.00 1,172 2,593
NFJ Virtus Div Int & Prm Stgy Fd Virtus 0.95 -15.18 8.27 0.00 0.00 1,324 2,327
VVR Invsc Sr Incm Tr Invesco 0.98 -7.90 12.55 17.86 33.76 620 2,663
JQC Nuv Cr Stgs Incm Fd Nuveen 0.93 -14.11 11.56 10.08 38.63 778 2,193
FSCO FS Cr Opp Corp FS/KKR 0.99 -29.80 12.98 0.00 36.35 1,291 3,016
JFR Nuv Flt Rt Incm Fd Nuveen 0.92 -12.71 11.42 7.93 39.05 511 1,851
FRA BR Flt Rt Incm Stgc Fd BlackRock 0.98 -7.58 11.75 2.99 23.23 456 1,873
ARDC Ares Dyn Cr Alloc Fd Ares 0.95 -12.89 11.35 0.00 35.40 313 1,417
BGB Blackstone Stgc Cr 2027 Trm Fd Blackstone 0.94 -13.90 10.09 0.00 33.14 543 1,128
KYN KA Nrg Infra Fd Kayne Anderson 0.91 -16.72 10.28 10.12 24.75 1,335 3,945
CEM CB MLP & Midstream Fd Franklin Templeton 0.98 -15.76 7.76 50.80 31.95 521 940
EMO CB Nrg Midstream Opp Fd Franklin Templeton 0.96 -15.35 7.64 50.95 32.15 427 738
NML NB Nrg Infra & Incm Fd Neuberger Berman 0.95 -15.80 10.78 64.02 17.65 437 975
TYG Tortoise Nrg Infra Corp Tortoise 0.92 -19.34 10.12 23.75 22.30 394 1,053
KMF KA NextGen Nrg & Infra Kayne Anderson 0.88 -17.72 9.07 83.28 22.68 405 1,097
FEI FT MLP & Nrg Incm Fd First Trust 0.94 -16.33 7.97 46.12 18.39 407 881
HYT BR Corp Hi Yld Fd BlackRock 0.95 -7.59 10.82 29.29 28.28 1,334 4,279
KIO KKR Incm Opp Fd KKR Credit 0.99 -10.65 12.97 0.00 37.23 341 1,641
DLY DbLin Yld Opp Fd Doubleline 0.97 -5.59 9.88 6.43 21.01 720 2,078
GHY PGIM Glbl Hi Yld Fd Prudential 0.95 -11.95 11.56 6.35 22.36 507 1,517
ACP abrdn Incm Cr Stgs Fd abrdn 0.97 -2.76 17.91 0.00 29.70 359 1,758
FTHY FT Hi Yld Opp 2027 Trm Fd First Trust 0.93 -11.93 11.49 16.26 17.99 567 1,025
ISD PGIM Hi Yld Bnd Fd Prudential 0.96 -10.21 10.30 16.37 22.41 453 1,200
PTY PIMCO Corp & Incm Opp Fd PIMCO 2.35 19.39 10.97 0.00 34.96 1,507 5,663
PCN PIMCO Corp & Incm Stgy Fd PIMCO 2.32 15.30 10.47 0.00 24.47 545 1,478
VBF Invsc Bnd Fd Invesco 2.15 -6.69 5.10 2.53 0.00 183 381
CLM Cornerstone Stgc Val Fd Cornerstone 1.01 16.47 18.28 90.60 0.00 1,535 9,787
BIGZ BR Innovation & Gwth Trm Tr BlackRock 0.91 -16.59 10.99 100.00 0.00 2,078 6,340
CRF Cornerstone Tot Rtn Fd Cornerstone 1.01 15.66 18.33 90.68 0.00 696 5,185
USA Liberty All-Star Eq Fd ALPS 0.93 -1.29 9.82 10.52 0.00 1,660 3,940
ADX Adams Divr Eq Fd Adams Funds 0.98 -16.23 6.63 0.00 0.00 2,331 2,803
RVT Royce Val Tr Franklin Templeton 0.92 -13.46 7.55 23.61 2.19 1,683 3,037
GDV Gabelli Div & Incm Tr Gabelli 0.94 -15.74 6.45 33.51 13.00 2,189 2,877
BSTZ BR Sci & Tech Trm Tr BlackRock 0.92 -15.06 10.83 54.08 0.00 1,627 4,597
AOD abrdn Tot Dyn Div Fd abrdn 0.96 -14.03 8.53 16.93 4.03 992 2,071
IFN India Fund abrdn 0.97 -3.12 10.05 1.62 0.00 476 1,134
BGY BR Enh Intl DivTr BlackRock 0.96 -12.01 7.48 61.04 0.00 627 1,278
IGD Voya Glbl Eq Div & Prm Opp Voya 0.94 -13.19 9.60 56.60 0.00 457 1,105
IIF MS India Inv Fd Morgan Stanley 1.00 -18.64 9.57 0.00 0.00 263 596
TDF Tmp Dragon Fd Franklin Templeton 0.84 -13.03 13.83 0.00 0.00 366 552
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 0.91 -15.24 3.93 0.00 39.74 3,768 7,519
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 0.92 -14.99 4.47 0.00 40.71 2,863 5,725
NAD Nuv Qlty Muni Incm Fd Nuveen 0.91 -15.08 4.13 0.00 39.66 3,034 5,827
NZF Nuv Muni Cr Incm Fd Nuveen 0.91 -15.53 4.54 0.00 41.51 2,608 5,767
NMZ Nuv Muni Hi Incm Opp Fd Nuveen 0.92 -5.33 5.21 0.00 39.31 1,223 2,901
NAC Nuv CA Qlty Muni Inc Fd Nuveen 0.92 -15.67 4.08 0.00 40.07 1,819 3,473
BBN BR Taxable Muni BndTr BlackRock 0.87 -7.89 6.78 20.28 33.04 1,104 2,682
ECAT BR ESG Cap Alloc Trm Tr BlackRock 0.96 -11.82 9.57 72.52 0.00 1,819 5,268
CSQ Calamos Stgc Tot Rtn Fd Calamos 0.96 -2.50 8.76 28.27 33.23 2,305 2,846
AIO Virtus AI & Tech Opp Fd Virtus 0.95 -12.05 10.49 54.62 16.28 670 1,374
GLO Clough Glbl Opp Fd Clough 0.94 -17.10 12.08 76.56 48.75 252 1,030
GUG Gghm Active Alloc Fd Guggenheim Funds 0.95 -12.92 10.27 10.15 26.13 526 1,039
RIV RiverNorth Opp Fd RiverNorth 0.95 -8.26 13.67 63.81 34.96 262 853
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 0.94 -12.24 8.14 0.00 0.00 561 872
PDI PIMCO Dyn Incm Fd PIMCO 0.99 4.81 14.45 0.00 41.69 4,500 20,245
GOF Gghm Stgc Opp Fd Guggenheim Funds 0.95 28.44 13.71 46.78 23.26 1,475 7,213
DSL DbLin Incm Solutions Fd Doubleline 0.98 -0.17 11.32 4.95 22.69 1,194 3,983
RA Brkf Real Ast Incm Fd Brookfield 0.98 11.05 14.32 56.90 26.66 839 3,785
BTZ BR Cr Alloc Incm Tr BlackRock 0.96 -8.30 9.79 29.96 35.37 1,048 2,680
AWF AB Glbl Hi Incm Fd AllianceBernstein 0.97 -5.73 7.96 0.00 23.80 904 2,072
HFRO Highland Incm Fd Highland Capital 0.99 -32.44 10.15 25.13 15.10 918 2,256
FAX abrdn Asia-Pacific Incm Fd abrdn 1.13 -14.42 12.36 56.08 31.70 773 1,810
EMD WA Emrg Mkt Dbt Fd Franklin Templeton 1.11 -14.56 9.94 26.15 29.43 596 1,330
TEI Tmp Emrg Mkt Incm Fd Franklin Templeton 1.10 -10.41 11.45 58.55 15.68 264 765
GIM Tmp Glbl Incm Fd Franklin Templeton 1.04 -9.69 9.07 58.54 0.00 466 675
EDD MS Emrg Mkt Dom Dbt Morgan Stanley 1.15 -14.99 6.88 48.28 16.06 360 967
BWG BwGlobal Glbl Incm Opp Fd Franklin Templeton 1.10 -15.75 12.47 43.21 41.65 153 409

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 %