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 1,466.03 0.61 2.31 9.45 12.02 0.94 -6.36 3.68 4.58 5.76 8.96 8.96 8.96
NAV 1,422.52 0.48 1.38 5.70 9.21 2.01 -4.75 3.94 4.33 5.80 5.57 5.57 5.57
Difference -0.13 -0.92 -3.75 -2.82 1.07 1.61 0.26 -0.26 0.05 -3.39 -3.39 -3.39
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
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
-4.38%
1Yr Disc
-4.61%
3Yr Disc
-3.49%
5Yr Disc
-3.18%
Rel Disc Range (3yr)
60.03%
Mkt Yield
9.30%
Lev Adj NAV Yield
7.31%
After Tax Yield*
7.78%
Est Tax Friction*
1.52%
3Yr NAV Volatiliy
19.88
1 Yr RoC
38.08%
3 Yr Dest RoC
29.18%
Leverage
24.84%
Non Lev Exp Ratio
1.58%
Beta (2yr)
0.81
Equity Exposure
36.81%
Bond Exposure
61.19%
# Holdings
100
Cash Weighted Duration
2.72
Comp NAV TR
0.05%
Comp Discount
1.97%
Net Assets (M)
1,240
Liquidity - 90d (K)
5,009
* 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 -9.15 6.52 0.00 38.78 1,687 4,697
PTA Tx-Adv Pref Sec Pref Sec & Incm Fd Cohen&Steers 0.97 -8.94 8.18 32.54 37.80 1,193 5,024
FPF FT Imd Dur Pref & Incm Fd First Trust 0.98 -8.13 7.19 1.22 32.56 1,243 4,113
LDP C&S Ltd Dur Pref & Incm Fd Cohen&Steers 0.95 -6.57 7.86 15.84 34.70 641 2,689
NPFD Nuv Var Rt Pref & Incm Fd Nuveen 0.94 -9.88 6.13 0.00 37.38 504 2,590
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 1.00 0.76 6.47 0.00 38.30 824 2,581
JPC Nuv Pref & Incm Opp Fd Nuveen 0.93 -7.66 7.31 0.00 37.77 878 2,188
ARCC Ares Capital Corp Ares 0.93 5.71 9.79 0.00 53.62 9,433 54,596
ORCC Owl Rock Capital Corp Owl Rock 1.01 -12.05 10.11 0.00 53.65 5,848 28,241
FSK FS KKR Capital Corp FS/KKR 1.01 -22.73 13.91 0.00 54.89 7,159 21,217
BXSL Blackstone Secur Lending Fd Blackstone Cr BDC Advis 0.92 -8.58 10.19 0.00 55.54 4,117 17,167
HTGC Hercules Capital Hercules 0.94 36.39 10.08 0.00 52.02 1,363 12,132
MAIN Main Street Cap Corp Main Street Capital 0.94 46.31 6.87 0.00 49.30 2,075 11,755
GBDC Golub Capital BDC Golub Capital 0.92 -7.12 9.54 0.00 54.45 2,545 10,403
RQI C&S Qlty Incm Rty Fd Cohen&Steers 1.00 -4.51 7.43 0.00 30.00 1,817 4,850
RNP C&S REIT & Pref Incm Fd Cohen&Steers 0.96 1.59 7.32 0.00 31.20 1,045 3,345
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 1.02 -6.06 10.81 11.41 29.98 827 3,041
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 0.99 -9.76 8.18 69.62 36.60 283 1,864
AWP abrdn Glbl Prmr Prop Fd abrdn 0.99 -6.21 10.96 71.17 11.03 399 1,666
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 0.95 -12.42 9.08 37.96 30.96 400 1,068
RFI C&S Tot Rtn Rty Fd Cohen&Steers 0.98 7.31 7.19 0.00 0.00 328 889
NCZ Virtus Convt & Incm Fd II Virtus 1.03 -7.73 13.47 97.25 42.97 276 1,990
CHI Calamos Convt Opp & Incm Calamos 1.01 13.80 9.47 0.00 38.98 785 2,014
CHY Calamos Convt & Hi Incm Fd Calamos 1.02 9.68 9.80 0.00 39.06 846 1,959
CCD Calamos Dyn Convt & Incm Fd Calamos 1.01 12.95 10.01 0.00 38.52 544 1,650
NCV Virtus Convt & Incm Fd Virtus 1.02 -3.20 12.98 96.75 42.66 367 1,418
AVK Advent Convt & Incm Fd Guggenheim Funds 0.99 -6.07 11.36 70.19 43.62 456 1,728
ACV Virtus Divr Incm & Convt Fd Virtus 1.05 2.98 9.93 0.00 32.11 219 906
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 0.92 -6.93 8.38 19.67 0.00 2,600 5,171
BST BR Sci & Tech Tr BlackRock 1.02 4.70 9.04 19.30 0.00 1,046 5,209
BDJ BR Enh Eq Div Tr BlackRock 0.89 0.55 7.39 0.00 0.00 1,691 4,450
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 0.97 6.05 8.73 10.29 0.00 1,033 3,681
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 0.91 2.80 8.87 69.01 0.00 1,357 3,747
NFJ Virtus Div Int & Prm Stgy Fd Virtus 0.95 -13.48 8.04 0.00 0.00 1,336 3,559
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.92 -0.69 8.44 12.84 0.00 1,801 3,519
VVR Invsc Sr Incm Tr Invesco 0.90 -4.13 9.72 2.76 31.80 630 3,314
JQC Nuv Cr Stgs Incm Fd Nuveen 0.91 -10.61 10.73 17.92 39.70 806 2,832
FSCO FS Cr Opp Corp FS/KKR 0.93 -21.75 11.87 0.00 36.39 1,259 2,427
BGB Blackstone Stgc Cr Fd Blackstone 0.91 -12.46 9.31 0.00 36.45 559 1,925
JFR Nuv Flt Rt Incm Fd Nuveen 0.94 -8.92 10.55 12.59 39.54 529 1,911
FRA BR Flt Rt Incm Stgc Fd BlackRock 0.91 -10.67 8.23 7.89 24.30 462 1,579
JRO Nuv Flt Rt Incm Opp Fd Nuveen 0.94 -9.02 10.61 10.98 39.39 373 1,354
KYN KA Nrg Infra Fd Kayne Anderson 0.96 -11.28 8.70 45.00 25.32 1,412 4,522
CEM CB MLP & Midstream Fd Franklin Templeton 0.95 -14.46 6.95 40.52 32.89 565 2,412
EMO CB Nrg Midstream Opp Fd Franklin Templeton 0.95 -13.51 6.80 24.22 33.33 461 1,907
TYG Tortoise Nrg Infra Corp Tortoise 0.92 -16.82 8.45 100.00 23.80 458 1,595
NML NB MLP & Nrg Incm Fd Neuberger Berman 0.95 -14.32 9.68 100.00 18.00 479 1,340
KMF KA NextGen Nrg & Infra Kayne Anderson 0.94 -15.51 8.10 94.06 22.78 441 1,084
FEI FT MLP & Nrg Incm Fd First Trust 0.93 -12.92 7.30 78.72 20.08 427 1,114
HYT BR Corp Hi Yld Fd BlackRock 0.92 -4.55 10.13 23.82 28.49 1,380 5,954
DLY DbLin Yld Opp Fd Doubleline 0.97 -6.42 9.61 7.83 20.49 747 3,533
FTHY FT Hi Yld Opp 2027 Trm Fd First Trust 0.95 -10.17 10.52 29.43 15.32 593 2,169
GHY PGIM Glbl Hi Yld Fd Prudential 0.96 -9.61 10.71 11.10 16.75 532 2,078
ISD PGIM Hi Yld Bnd Fd Prudential 0.96 -8.03 9.74 14.69 20.64 468 1,669
SDHY PGIM Srt Dur Hi Yld Opp Fd Prudential 0.94 -8.97 8.24 15.83 16.77 426 1,621
DSU BR Dbt Stgs Fd BlackRock 0.91 -10.34 8.79 8.78 25.05 500 1,495
PTY PIMCO Corp & Incm Opp Fd PIMCO 2.34 20.25 10.44 0.00 38.52 1,001 7,011
PCN PIMCO Corp & Incm Stgy Fd PIMCO 2.31 14.77 10.16 0.00 29.80 536 2,014
VBF Invsc Bnd Fd Invesco 2.18 -0.06 4.54 0.60 0.00 192 664
CLM Cornerstone Stgc Val Fd Cornerstone 0.94 19.28 18.61 82.54 0.00 1,434 11,985
BIGZ BR Innovation & Gwth Tr BlackRock 0.98 -20.25 10.99 100.00 0.00 2,200 12,546
CRF Cornerstone Tot Rtn Fd Cornerstone 0.95 20.56 18.19 81.86 0.00 657 5,868
USA Liberty All-Star Eq Fd ALPS 0.97 -1.13 9.79 0.00 0.00 1,576 5,337
RVT Royce Val Tr Franklin Templeton 0.95 -9.86 8.08 5.27 4.52 1,720 4,276
NBXG NB Nxt Gen Connectivity Fd Neuberger Berman 0.96 -20.43 12.04 100.00 0.00 987 3,735
GDV Gabelli Div & Incm Tr Gabelli 0.93 -13.57 6.06 0.78 14.00 2,275 3,385
BSTZ BR Sci & Tech Tr II BlackRock 1.03 -13.19 12.50 48.25 0.00 1,658 8,964
AOD abrdn Tot Dyn Div Fd abrdn 0.94 -12.92 8.25 31.91 1.05 1,012 3,658
BGY BR Enh Intl DivTr BlackRock 0.94 -12.72 7.48 57.98 0.00 638 1,941
IFN India Fund abrdn 1.06 -1.88 11.60 0.00 0.00 484 2,066
IGD Voya Glbl Eq Div & Prm Opp Voya 0.89 -10.51 8.81 52.33 0.00 486 1,455
TDF Tmp Dragon Fd Franklin Templeton 1.07 -11.43 10.44 0.00 0.00 476 1,163
GLQ Clough Glbl Eq Fd Clough 0.84 -13.74 11.45 62.27 46.83 139 932
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 0.88 -11.74 3.65 0.00 40.76 3,896 16,109
NAD Nuv Qlty Muni Incm Fd Nuveen 0.88 -11.35 3.99 0.00 40.82 3,125 12,139
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 0.90 -10.37 4.07 0.00 41.39 2,985 11,316
NZF Nuv Muni Cr Incm Fd Nuveen 0.89 -11.15 4.18 0.00 40.80 2,299 9,485
NUV Nuv Muni Val Fd Nuveen 0.92 -4.34 3.72 0.00 1.12 1,961 6,519
NMZ Nuv Muni Hi Incm Opp Fd Nuveen 0.93 -4.61 4.98 0.00 40.40 1,270 5,691
NAC Nuv CA Qlty Muni Inc Fd Nuveen 0.90 -12.96 3.78 0.00 40.50 1,899 6,005
BCAT BR Cap Alloc Tr BlackRock 0.94 -15.13 8.37 52.61 0.00 1,901 7,829
CSQ Calamos Stgc Tot Rtn Fd Calamos 0.94 1.77 8.57 15.86 34.99 2,248 3,334
AIO Virtus AI & Tech Opp Fd Virtus 0.94 -13.14 10.39 21.44 15.84 685 2,558
GUG Gghm Active Alloc Fd Guggenheim Funds 0.94 -12.53 9.86 7.48 26.26 545 2,382
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 0.95 -12.03 8.14 0.00 0.00 560 1,888
GLO Clough Glbl Opp Fd Clough 0.87 -14.16 11.52 65.25 46.71 255 2,081
NMAI Nuv Multi-Asset Incm Fd Nuveen 0.95 -13.67 11.20 9.31 34.44 484 1,480
PDI PIMCO Dyn Incm Fd PIMCO 0.98 12.31 12.95 0.00 42.51 4,424 24,326
GOF Gghm Stgc Opp Fd Guggenheim Funds 0.95 26.24 13.20 57.91 22.47 1,504 8,027
DSL DbLin Incm Solutions Fd Doubleline 0.98 0.57 10.62 1.06 23.71 1,261 6,499
BTZ BR Cr Alloc Incm Tr BlackRock 0.97 -5.67 9.03 23.12 34.60 1,105 4,180
RA Brkf Real Ast Incm Fd Brookfield 0.95 8.48 13.73 53.29 27.10 891 3,591
WDI WA Divr Incm Fd Franklin Templeton 0.98 -8.20 10.81 2.00 32.95 802 3,070
HFRO Highland Incm Fd Highland Capital 0.89 -27.86 8.77 0.00 13.42 994 1,851
FAX abrdn Asia-Pacific Incm Fd abrdn 1.12 -13.60 11.54 44.79 31.83 820 3,094
EMD WA Emrg Mkt Dbt Fd Franklin Templeton 1.06 -10.90 10.13 29.58 27.73 641 2,101
GIM Tmp Glbl Incm Fd Franklin Templeton 1.05 -8.83 8.32 0.00 0.00 500 1,154
TEI Tmp Emrg Mkt Incm Fd Franklin Templeton 1.04 -7.58 10.05 0.00 0.00 289 1,286
ACP abrdn Incm Cr Stgs Fd abrdn 1.20 8.29 15.31 0.00 42.25 180 1,232
EDD MS Emrg Mkt Dom Dbt Morgan Stanley 1.10 -13.97 5.98 0.00 12.36 358 891

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 %