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01. 12 Major CEF Sectors Index

Data as of 07/06/2020 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(%)	MTD(%)	QTD(%)	YTD(%)
Price	1,127.11	0.22	3.40	-3.35	31.64	-14.38	-9.37	0.76	3.95	1.68	1.68	-13.83
NAV	1,163.50	0.48	2.70	-1.70	22.48	-8.50	-4.42	3.08	3.73	1.55	1.55	-7.82
Difference		0.26	-0.70	1.65	-9.16	5.88	4.95	2.31	-0.22	-0.13	-0.13	6.01
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2020 - Monthly Performance (%) Show Previous Years
	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	-9.01	-	-	-	-	-	-	-	-	-	-
NAV	0.34	-4.58	-19.13	-22.57	10.70	4.15	1.68	17.23	-5.34	-	-	-	-	-	-	-	-	-	-
Difference	-0.34	4.96	3.91	7.33	-2.33	-2.12	1.03	-3.66	3.67	-	-	-	-	-	-	-	-	-	-
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	19.71	1.78	-1.38	1.96	2.34	0.01	1.05	2.90	3.99	6.33	26.04
NAV	6.68	1.83	1.94	10.74	1.54	-2.04	3.20	2.66	13.40	0.80	-0.58	1.01	1.23	0.37	0.44	2.77	3.60	4.83	18.24
Difference	-4.85	-0.24	0.17	-5.11	-0.88	0.65	-0.99	-1.20	-6.31	-0.98	0.80	-0.95	-1.11	0.36	-0.61	-0.13	-0.38	-1.49	-7.80
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	0.64	1.90	1.54	-1.24	2.19	-7.33	0.72	-6.53	-12.76	-10.57	-9.93
NAV	2.26	-3.20	-0.88	-1.88	1.09	1.38	-0.04	2.45	0.56	1.95	1.22	-0.43	2.74	-4.17	0.08	-4.17	-8.09	-5.35	-4.79
Difference	1.14	-0.39	-0.15	0.54	-0.88	-0.36	0.62	-0.62	-0.07	0.05	-0.32	0.81	0.55	3.16	-0.64	2.36	4.67	5.22	5.15
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	9.74	1.94	-1.40	1.97	2.49	-0.71	-0.50	2.32	1.10	3.58	13.33
NAV	1.55	1.95	0.26	3.79	1.07	0.64	0.68	2.41	6.20	1.43	-0.21	1.10	2.32	0.39	0.48	1.67	2.54	4.87	11.07
Difference	-1.65	-0.79	0.37	-2.11	-1.71	0.55	-0.25	-1.43	-3.54	-0.51	1.19	-0.87	-0.16	1.09	0.97	-0.66	1.45	1.28	-2.26
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	9.41	4.00	1.22	-0.56	4.68	-3.13	0.12	2.42	-0.67	4.02	13.43
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	9.18
Difference	0.95	-1.15	-1.88	-1.96	-0.82	0.19	-1.39	-2.10	-4.06	-1.20	-0.58	0.93	-0.84	2.02	-0.68	-0.75	0.64	-0.19	-4.25
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	0.02	-1.25	-3.50	-4.33	-8.83	6.51	-1.53	-1.81	2.99	-5.84	-5.81
NAV	0.52	2.32	-0.16	2.69	1.26	0.22	-2.34	-0.89	1.80	-0.16	-3.49	-3.31	-6.82	4.37	-1.43	-2.33	0.49	-6.34	-4.54
Difference	-0.92	-0.52	0.28	-1.17	-0.27	0.97	2.23	2.94	1.77	1.09	0.01	1.02	2.00	-2.14	0.10	-0.52	-2.50	-0.50	1.27

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -8.49%	1Yr Disc -4.79%	3Yr Disc -4.09%	5Yr Disc -4.74%	Rel Disc Range (3yr) 59.54%
Mkt Yield 9.27%	Lev Adj NAV Yield 6.81%	After Tax Yield* 7.82%	Est Tax Friction* 1.45%	3Yr NAV Volatiliy 19.20
1 Yr RoC 24.22%	3 Yr Dest RoC 15.09%	Leverage 22.84%	Non Lev Exp Ratio 1.43%	Beta (2yr) 0.83
Equity Exposure 40.46%	Bond Exposure 57.84%	# Holdings 84	Cash Weighted Duration 2.27
Comp NAV TR 3.07%	Comp Discount 1.69%	Net Assets (M) 1,172	Liquidity - 90d (K) 4,718
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

84 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
JPS	Nuv Pref & Incm Sec Fd	Nuveen	1.19	-3.29	7.10	1.06	32.96	1,797	6,249
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	1.18	8.45	6.99	0.00	35.00	831	3,707
FPF	FT Imd Dur Pref & Incm Fd	First Trust	1.17	-1.44	7.50	2.27	29.94	1,308	3,474
JPC	Nuv Pref & Incm Opp Fd	Nuveen	1.19	-2.47	7.66	1.89	33.48	879	2,965
DFP	F&C Dyn Pref and Incm Fd	Flaherty & Crumrine	1.19	3.22	7.31	0.00	35.40	459	2,160
PDT	JH Prm Div Fd	John Hancock	1.20	9.77	8.60	6.69	37.77	602	1,947
HPI	JH Pref Incm Fd	John Hancock	1.19	11.61	7.45	4.60	33.48	466	1,920
ARCC	Ares Capital Corp	Ares	1.17	-7.38	11.09	0.00	51.75	6,584	44,635
FSKR	FS KKR Capital Corp. II	FS/KKR	1.19	-48.17	0.00	N/A	44.40	4,314	24,701
MAIN	Main Street Cap Corp	Main Street Capital	1.17	49.98	7.91	0.00	43.79	1,345	19,988
ORCC	Owl Rock Capital Corp	Owl Rock	1.18	-11.64	9.96	0.00	38.63	5,408	14,769
PSEC	Prospect Capital Corp	Prospect Capital	1.09	-40.35	15.13	0.00	41.86	2,947	12,681
GBDC	Golub Capital BDC	Golub Capital	1.18	-19.49	9.86	0.00	54.34	2,445	12,150
FSK	FS KKR Capital Corp	FS/KKR	1.42	-40.72	66.48	0.00	57.24	3,015	12,549
RQI	C&S Qlty Incm Rty Fd	Cohen & Steers	1.19	-8.77	8.63	0.00	27.00	1,636	8,812
RNP	C&S REIT & Pref Incm Fd	Cohen & Steers	1.20	-9.83	7.62	0.00	28.50	1,031	3,973
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Clarion	1.19	-16.83	9.87	61.58	18.83	852	2,875
AWP	Abd Glbl Prmr Prop Fd	Aberdeen	1.20	-15.60	10.08	42.64	0.00	482	2,131
JRI	Nuv Rel-Ast Incm & Gwth Fd	Nuveen	1.20	-15.44	9.79	12.69	25.67	384	1,596
RFI	C&S Tot Rtn Ry Fd	Cohen & Steers	1.24	4.57	7.36	11.55	0.00	327	1,539
NRO	NB Rel-Est Sec Incm Fd	Neuberger Berman	1.20	-7.94	12.94	67.81	14.23	191	1,225
CHY	Calamos Convt & Hi Incm Fd	Calamos	1.18	-9.39	8.96	7.61	32.34	921	3,083
CHI	Calamos Convt Opp & Incm	Calamos	1.20	-8.73	8.83	7.93	32.00	845	2,765
NCZ	AG Convt & Incm Fd II	Allianz	1.24	-6.62	11.00	36.67	46.26	333	2,429
CCD	Calamos Dyn Convt & Incm Fd	Calamos	1.22	-7.15	9.13	15.39	31.33	579	2,061
NCV	AG Convt & Incm Fd	Allianz	1.23	-6.97	11.23	39.76	45.76	441	1,894
AVK	Advent Convt & Incm Fd	Guggenheim Funds	1.20	-11.71	10.48	67.33	38.41	525	1,594
ACV	AG Divr Incm & Convt Fd	Allianz	1.23	-8.53	8.31	0.00	29.36	273	1,067
EXG	EV Tx-Mgd Glbl Divr Eq Incm	Eaton Vance	1.19	-8.56	9.88	91.56	0.00	2,477	6,318
QQQX	Nuv Nasdaq 100 Dyn Owrt Fd	Nuveen	1.24	-0.79	6.50	92.81	0.00	973	5,122
BST	BR Sci & Tech Tr	BlackRock	1.22	-0.76	5.06	15.57	0.00	952	5,063
BDJ	BR Enh Eq Div Tr	BlackRock	1.18	-10.42	8.12	3.50	0.00	1,547	4,671
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	1.17	6.31	9.40	94.45	0.00	1,153	4,379
ETY	EV Tx-Mgd Divr Eq Incm Fd	Eaton Vance	1.18	-6.12	9.28	63.24	0.00	1,761	4,201
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	1.20	-5.84	9.85	72.17	0.00	1,011	3,937
JQC	Nuv Cr Stgs Incm Fd	Nuveen	1.21	-13.01	16.34	54.82	34.41	928	3,696
HFRO	Highland Incm Fd	Highland Capital	1.15	-36.33	11.67	16.00	36.01	892	3,530
VVR	Invsc Sr Incm Tr	Invesco	1.17	-16.22	6.94	7.65	30.00	632	2,951
VTA	Invsc Dyn Cr Opp Fd	Invesco	1.18	-15.73	10.00	1.02	32.00	673	2,666
BGB	B/GSO Stgc Cr Fd	GSO / Blackstone	1.17	-13.13	9.91	0.00	36.07	585	2,314
JFR	Nuv Flt Rt Incm Fd	Nuveen	1.18	-14.18	6.96	0.00	34.10	526	2,075
EFT	EV Flt-Rt Incm Tr	Eaton Vance	1.17	-14.39	5.99	0.00	35.90	532	1,802
KYN	KA MLP/Midstream Inv Co	Kayne Anderson	1.11	-19.48	12.00	100.00	31.55	785	6,254
TYG	Tortoise Nrg Infra Corp	Tortoise	1.12	-27.27	0.00	83.93	26.80	282	2,849
FEI	FT MLP & Nrg Incm Fd	First Trust	1.11	-19.34	11.24	59.12	18.53	311	1,808
CEM	CB MLP & Midstream Fd	Legg Mason	1.09	-21.49	12.84	78.88	30.40	265	1,654
NTG	Tortoise Midstream Nrg Fd	Tortoise	1.10	-26.11	0.00	100.00	22.50	139	1,609
FEN	FT Nrg Incm & Gwth Fd	First Trust	1.14	-16.07	11.37	71.69	18.79	252	1,567
KMF	KA Midstream/Nrg Fd	Kayne Anderson	1.13	-25.55	8.24	89.28	30.67	277	1,423
HYT	BR Corp Hi Yld Fd	BlackRock	1.21	-4.19	8.89	8.62	30.32	1,339	6,727
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	1.21	-11.67	9.74	0.00	30.60	218	4,261
DHY	CS Hi Yld Bnd Fd	Credit Suisse	1.18	-12.23	9.85	9.74	27.87	237	3,932
HIO	WA Hi Incm Opp Fd	Legg Mason	1.20	-9.81	8.32	7.36	0.00	661	2,242
HIX	WA Hi Incm Fd II	Legg Mason	1.19	-6.71	9.39	6.81	30.65	565	1,932
ISD	PGIM Hi Yld Bnd Fd	Prudential	1.19	-12.90	9.38	1.67	26.08	513	1,909
EAD	WF Incm Opp Fd	Wells Fargo	1.21	-12.09	9.58	0.00	25.90	497	1,847
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	1.20	29.59	9.87	0.12	36.62	1,075	8,424
PCN	PIMCO Corp & Incm Stgy Fd	PIMCO	1.19	26.79	8.49	0.00	22.00	500	1,943
PIM	Putnam Mstr Imd Incm Tr	Putnam	1.21	-4.13	8.61	33.61	1.73	223	669
IGI	WA Inv Grd Dfin Opp Tr	Legg Mason	1.19	2.63	3.89	0.00	0.00	231	618
VBF	Invsc Bnd Fd	Invesco	1.18	-3.86	3.75	0.79	0.00	239	612
DUC	D&P Util & Corp Bnd Tr	Duff & Phelps	1.16	-4.33	6.46	37.86	29.00	267	592
GDO	WA Glbl Corp Dfin Opp Fd	Legg Mason	1.21	-4.70	7.21	30.29	31.00	264	562
CLM	Cornerstone Stgc Val Fd	Cornerstone	1.21	10.99	20.98	82.81	0.00	725	5,941
GDV	Gabelli Div & Incm Tr	Gabelli	1.18	-14.06	7.42	12.35	19.00	1,877	5,272
USA	Liberty All-Star Eq Fd	ALPS	1.19	-7.92	9.64	0.16	0.00	1,318	4,640
RVT	Royce Val Tr	Legg Mason	1.18	-12.95	8.23	4.66	5.89	1,380	4,257
EVT	EV Tx-Adv Div Incm Fd	Eaton Vance	1.18	-5.86	8.95	7.07	23.48	1,519	4,025
ADX	Adams Divr Eq Fd	Adams Funds	1.20	-14.77	5.89	0.00	0.00	1,951	3,592
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.20	12.92	20.90	85.21	0.00	366	3,701
BSTZ	BR Sci & Tech Tr II	BlackRock	1.23	-11.84	5.05	100.00	0.00	2,105	5,831
AOD	Abd Tot Dyn Div Fd	Aberdeen	1.19	-13.64	8.79	7.93	0.00	958	2,623
IFN	India Fund	Aberdeen	1.23	-12.86	10.33	7.01	0.00	424	2,264
CAF	MS China A Shr Fd	Morgan Stanley	1.30	-17.44	3.79	0.00	0.00	573	2,182
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.19	-14.29	9.76	72.45	0.00	557	1,834
BGY	BR Enh Intl DivTr	BlackRock	1.21	-11.50	7.64	34.28	0.00	631	1,523
TDF	Tmp Dragon Fd	Templeton	1.29	-14.56	4.41	0.00	0.00	882	1,348
NEA	Nuv AMT-Fr Qlty Muni Incm Fd	Nuveen	1.19	-9.20	4.84	0.00	38.33	4,301	8,703
NVG	Nuv AMT-Fr Muni Cr Incm Fd	Nuveen	1.17	-8.98	5.17	0.00	38.95	3,565	7,739
NAD	Nuv Qlty Muni Incm Fd	Nuveen	1.18	-10.31	4.85	0.00	38.21	3,327	6,546
BBN	BR Taxable Muni BndTr	BlackRock	1.18	2.65	5.33	0.08	33.40	1,402	4,952
NZF	Nuv Muni Cr Incm Fd	Nuveen	1.18	-7.68	5.07	0.00	38.92	2,277	4,725
NMZ	Nuv Muni Hi Incm Opp Fd	Nuveen	1.18	0.23	5.60	0.00	37.69	1,060	4,041
NUV	Nuv Muni Val Fd	Nuveen	1.19	-1.81	3.61	0.00	1.37	2,171	3,916

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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