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 1,865.32 0.47 0.54 -2.96 0.86 2.06 13.99 6.29 18.56 6.79 -1.97 0.96 0.96
NAV 1,752.32 0.39 0.45 -1.67 0.04 2.02 10.37 5.67 14.44 5.94 -1.42 0.84 0.84
Difference -0.08 -0.09 1.29 -0.82 -0.04 -3.62 -0.62 -4.11 -0.85 0.56 -0.12 -0.12
* 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 - - - - - - - - - - - - - - - - -
NAV 2.01 0.27 - - - - - - - - - - - - - - - - -
Difference -1.29 0.57 - - - - - - - - - - - - - - - - -
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
0.47%
1Yr Disc
-0.37%
3Yr Disc
-3.20%
5Yr Disc
-2.62%
Rel Disc Range (3yr)
64.59%
Mkt Yield
10.50%
Lev Adj NAV Yield
8.75%
After Tax Yield*
8.92%
Est Tax Friction*
1.58%
3Yr NAV Volatiliy
11.63
1 Yr RoC
39.25%
3 Yr Dest RoC
23.41%
Leverage
22.94%
Non Lev Exp Ratio
1.63%
Beta (2yr)
0.62
Equity Exposure
37.25%
Bond Exposure
60.56%
# Holdings
96
Cash Weighted Duration
2.55
Comp NAV TR
0.20%
Comp Discount
3.14%
Net Assets (M)
1,433
Liquidity - 90d (K)
6,752
* 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


96 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
JPC Nuv Pref & Incm Opp Fd Nuveen 0.99 0.25 10.01 3.87 38.04 2,558 7,902
PTA Tx-Adv Pref Sec Pref Sec & Incm Fd Cohen&Steers 0.99 -5.90 8.26 19.25 34.30 1,144 2,907
FPF FT Imd Dur Pref & Incm Fd First Trust 1.01 -3.70 8.92 29.99 34.91 1,169 2,448
FFC F&C Pref Sec Incm Fd Flaherty & Crumrine 1.01 -6.27 6.84 0.00 37.80 830 1,952
NPFD Nuv Var Rt Pref & Incm Fd Nuveen 1.00 -6.28 10.77 20.53 37.15 481 1,519
PDT JH Prm Div Fd John Hancock 0.99 -5.74 7.63 7.76 36.46 677 1,545
LDP C&S Ltd Dur Pref & Incm Fd Cohen&Steers 0.98 -6.47 7.71 3.44 33.10 634 1,535
ARCC Ares Capital Corp Ares 0.96 9.35 8.83 0.00 48.58 13,356 102,522
BXSL Blackstone Secur Lending Fd Blackstone 1.00 19.86 9.38 0.00 52.38 6,240 36,015
FSK FS KKR Capital Corp FS/KKR 0.91 -13.20 12.48 0.00 51.94 6,621 31,933
OBDC Blue Owl Cap Corp Blue Owl 0.98 -1.77 9.87 0.00 53.79 7,796 50,095
MAIN Main Street Cap Corp Main Street Capital 0.97 83.92 5.15 0.00 41.44 2,803 32,659
HTGC Hercules Capital Hercules 0.93 62.86 8.43 0.00 46.17 2,019 22,638
GBDC Golub Capital BDC Golub Capital 0.95 -0.73 10.39 0.00 54.61 4,017 21,575
RQI C&S Qlty Incm Rty Fd Cohen&Steers 1.00 -3.81 7.61 15.27 29.20 1,764 4,695
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 1.07 2.14 13.71 59.97 31.62 754 4,584
RNP C&S REIT & Pref Incm Fd Cohen&Steers 1.02 2.67 7.45 0.90 30.90 1,020 2,628
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 1.05 -2.33 12.31 54.13 33.06 365 1,743
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 1.03 -3.69 8.44 73.64 34.60 272 1,448
AWP abrdn Glbl Prmr Prop Fd abrdn 1.00 1.83 12.34 81.77 19.55 329 1,315
RFI C&S Tot Rtn Rty Fd Cohen&Steers 1.01 1.95 8.00 18.45 0.00 313 949
AVK Advent Convt & Incm Fd Guggenheim Funds 0.96 -4.31 12.19 70.93 39.06 532 1,793
NCV Virtus Convt & Incm Fd Virtus 0.93 -9.97 12.37 100.00 36.82 331 1,669
CHY Calamos Convt & Hi Incm Fd Calamos 0.84 3.98 11.48 80.48 37.17 789 2,591
CCD Calamos Dyn Convt & Incm Fd Calamos 0.88 22.12 10.70 61.95 37.37 483 1,310
CHI Calamos Convt Opp & Incm Calamos 0.83 7.05 11.21 80.28 37.07 730 2,066
NCZ Virtus Convt & Incm Fd II Virtus 0.92 -9.79 12.20 100.00 37.67 249 1,082
ACV Virtus Divr Incm & Convt Fd Virtus 0.90 -4.57 10.66 58.33 31.15 220 579
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 1.00 -8.27 9.48 38.90 0.00 2,775 5,101
BST BR Sci & Tech Tr BlackRock 0.91 -4.68 8.77 14.66 0.00 1,246 5,017
BDJ BR Enh Eq Div Tr BlackRock 1.02 -5.65 8.56 7.84 0.00 1,628 4,249
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.94 0.35 8.26 0.00 0.00 2,260 3,724
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 0.85 -10.43 9.35 26.66 0.00 1,306 3,651
EOS EV Enh Eq Incm Fd II Eaton Vance 0.89 1.72 8.35 42.21 0.00 1,127 3,197
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 0.97 -9.50 9.51 37.79 0.00 1,015 2,730
FSCO FS Cr Opp Corp FS/KKR 1.02 -2.88 10.95 0.00 34.63 1,444 5,808
XFLT XAI Octgn Flt Rt & Alt Incm Tr XA Investments 0.89 -3.07 15.40 5.98 39.60 469 3,876
JFR Nuv Flt Rt Incm Fd Nuveen 0.93 -3.98 12.09 7.09 38.20 1,415 10,106
VVR Invsc Sr Incm Tr Invesco 1.00 6.90 11.32 16.39 34.36 578 3,266
JQC Nuv Cr Stgs Incm Fd Nuveen 0.94 -5.07 11.93 13.74 38.27 776 3,951
BGB Blackstone Stgc Cr 2027 Trm Fd Blackstone 0.96 -4.43 8.85 0.00 37.27 564 2,499
FRA BR Flt Rt Incm Stgc Fd BlackRock 0.91 2.08 11.64 19.65 23.71 442 2,528
KYN KA Nrg Infra Fd Kayne Anderson 1.37 -12.83 7.52 4.91 15.27 2,478 5,810
EMO CB Nrg Midstream Opp Fd Franklin Templeton 1.47 -10.53 8.65 0.00 24.54 1,016 2,194
SRV NXG Cushing Midstream Nrg Fd Cushing 1.35 0.41 12.40 94.49 23.57 174 1,672
NML NB Nrg Infra & Incm Fd Neuberger Berman 1.40 -9.46 7.71 100.00 17.75 569 1,763
TYG Tortoise Nrg Infra Corp Tortoise 1.42 -9.95 10.02 88.84 20.00 837 4,932
ACP abrdn Incm Cr Stgs Fd abrdn 1.00 -4.63 15.58 44.38 25.96 785 4,820
HYT BR Corp Hi Yld Fd BlackRock 0.96 0.52 9.74 16.97 23.54 1,498 6,056
DLY DbLin Yld Opp Fd Doubleline 0.99 1.01 8.72 3.08 17.48 765 2,270
DSU BR Dbt Stgs Fd BlackRock 0.96 1.45 11.28 20.58 14.37 558 2,591
KIO KKR Incm Opp Fd KKR Credit 0.90 -4.74 11.89 0.00 35.15 535 2,935
HIX WA Hi Incm Fd II Franklin Templeton 0.99 -4.06 13.84 33.98 32.58 399 2,028
GHY PGIM Glbl Hi Yld Fd Prudential 1.03 -0.46 9.66 29.70 19.99 536 3,119
PTY PIMCO Corp & Incm Opp Fd PIMCO 2.30 22.56 9.94 14.97 10.62 2,128 9,659
PCN PIMCO Corp & Incm Stgy Fd PIMCO 2.31 14.02 10.00 10.38 3.28 759 2,904
RCS PIMCO Stgc Incm Fd PIMCO 1.90 39.96 7.57 6.36 32.89 211 1,485
CLM Cornerstone Stgc Inv Fd Cornerstone 0.86 16.54 19.66 71.22 0.00 1,610 15,536
CRF Cornerstone Tot Rtn Fd Cornerstone 0.84 20.66 19.04 72.36 0.00 718 7,756
ADX Adams Divr Eq Fd Adams Funds 0.93 -11.37 9.85 3.42 0.00 2,533 6,042
BTX BR Tech & Pvt Eq Trm Tr BlackRock 0.88 -5.01 15.59 100.00 0.00 1,489 5,742
USA Liberty All-Star Eq Fd ALPS 0.97 -1.34 10.23 0.00 0.00 1,947 5,186
RVT Royce Small-Cap Tr Franklin Templeton 0.88 -7.93 8.26 0.15 1.72 1,855 4,008
BSTZ BR Sci & Tech Trm Tr BlackRock 0.89 -7.59 14.28 52.71 0.00 1,431 4,805
AOD abrdn Tot Dyn Div Fd abrdn 1.02 -9.54 13.90 37.17 0.00 1,006 4,437
IFN India Fund abrdn 1.00 -5.45 11.91 0.00 0.00 643 3,352
BGY BR Enh Intl DivTr BlackRock 1.06 -6.62 8.84 37.65 0.00 575 1,786
IGD Voya Glbl Eq Div & Prm Opp Voya 1.03 -7.95 10.58 77.39 0.00 486 1,460
IIF MS India Inv Fd Morgan Stanley 1.02 -13.01 10.43 0.00 0.00 266 1,048
AGD abrdn Glbl Dyn Div Fd abrdn 1.04 -7.35 12.93 32.54 0.88 274 1,199
NEA Nuv AMT-Fr Qlty Muni Incm Fd Nuveen 0.97 -6.44 7.84 34.46 40.09 3,573 11,598
NAD Nuv Qlty Muni Incm Fd Nuveen 0.95 -8.28 7.94 30.35 40.89 2,904 9,134
NVG Nuv AMT-Fr Muni Cr Incm Fd Nuveen 0.97 -6.76 7.73 31.37 40.14 2,810 6,930
NZF Nuv Muni Cr Incm Fd Nuveen 0.97 -7.35 7.88 25.19 39.62 2,532 7,116
NAC Nuv CA Qlty Muni Inc Fd Nuveen 0.97 -6.82 7.88 43.75 40.74 1,740 4,887
NUV Nuv Muni Val Fd Nuveen 0.97 -6.00 4.52 0.00 2.89 1,903 4,464
BCAT BR Cap Alloc Trm Tr BlackRock 0.96 -7.27 23.71 89.82 0.00 1,643 7,399
CSQ Calamos Stgc Tot Rtn Fd Calamos 0.91 -2.24 7.43 81.35 31.37 2,715 3,526
AIO Virtus AI & Tech Opp Fd Virtus 0.85 1.89 8.36 0.00 14.38 727 2,155
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 1.07 -8.99 7.01 0.00 0.00 628 1,378
GUG Gghm Active Alloc Fd Guggenheim Funds 0.99 -8.79 9.47 31.87 28.04 544 1,500
NMAI Nuv Multi-Asset Incm Fd Nuveen 0.97 -9.02 13.80 77.44 29.70 445 1,592
RIV RiverNorth Opp Fd RiverNorth 1.00 -3.94 13.11 84.65 34.12 261 1,032
PDI PIMCO Dyn Incm Fd PIMCO 1.08 16.18 13.35 19.28 30.43 6,280 45,568
GOF Gghm Stgc Opp Fd Guggenheim Funds 1.02 37.88 13.87 56.87 16.94 1,883 15,590
DSL DbLin Incm Solutions Fd Doubleline 0.98 1.37 10.51 11.52 22.05 1,364 5,136
WDI WA Divr Incm Fd Franklin Templeton 1.01 -3.57 12.21 0.00 32.02 784 2,839
RA Brkf Real Ast Incm Fd Brookfield 0.96 -10.14 10.80 15.54 20.23 806 2,741
BTZ BR Cr Alloc Incm Tr BlackRock 0.99 -5.25 9.46 27.22 34.09 1,048 2,844
AWF AB Glbl Hi Incm Fd AllianceBernstein 0.98 -4.79 7.33 0.00 15.24 972 2,657
FAX abrdn Asia-Pacific Incm Fd abrdn 1.27 -5.19 12.31 48.98 38.05 700 2,539
EMD WA Emrg Mkt Dbt Fd Franklin Templeton 1.18 -7.39 10.91 30.18 24.50 621 2,235
EDD MS Emrg Mkt Dom Dbt Morgan Stanley 1.24 -8.13 13.17 0.00 17.34 341 1,223
EHI WA Glbl Hi Incm Fd Franklin Templeton 1.16 -1.88 12.41 34.88 30.76 209 674
TEI Tmp Emrg Mkt Incm Fd Franklin Templeton 1.24 -4.13 10.23 0.00 19.26 274 968
MSD MS Emrg Mkt Dbt Fd Morgan Stanley 1.25 5.47 12.79 0.00 0.00 159 706

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 %