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01. 12 Major CEF Sectors Index

Data as of 09/28/2020 08/31/2020 07/31/2020 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	1,149.76	1.17	-0.45	-3.18	5.98	25.74	-7.99	0.67	6.17	-3.37	3.73	-12.10
NAV	1,194.76	0.88	0.13	-2.31	5.89	22.91	-1.45	3.18	5.60	-2.35	4.28	-5.34
Difference		-0.29	0.57	0.87	-0.09	-2.83	6.55	2.51	-0.57	1.02	0.55	6.75
* 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	-15.26	3.84	3.38	-	-	-	-	-	-	-	-
NAV	0.34	-4.58	-19.13	-22.57	10.70	4.15	1.68	17.23	-9.23	4.07	2.61	-	-	-	-	-	-	-	-
Difference	-0.34	4.96	3.91	7.33	-2.33	-2.12	1.03	-3.66	6.03	0.24	-0.77	-	-	-	-	-	-	-	-
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

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -9.31%	1Yr Disc -6.02%	3Yr Disc -4.57%	5Yr Disc -4.73%	Rel Disc Range (3yr) 57.01%
Mkt Yield 8.96%	Lev Adj NAV Yield 6.71%	After Tax Yield* 7.55%	Est Tax Friction* 1.41%	3Yr NAV Volatiliy 19.03
1 Yr RoC 24.30%	3 Yr Dest RoC 15.06%	Leverage 22.64%	Non Lev Exp Ratio 1.48%	Beta (2yr) 0.81
Equity Exposure 38.95%	Bond Exposure 58.90%	# Holdings 84	Cash Weighted Duration 2.24
Comp NAV TR 3.61%	Comp Discount 1.94%	Net Assets (M) 1,204	Liquidity - 90d (K) 3,471
* 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	1.21	-4.25	6.90	0.54	35.33	1,869	3,933
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	1.20	6.14	7.46	0.00	33.70	870	2,130
FPF	FT Imd Dur Pref & Incm Fd	First Trust	1.17	-5.59	7.47	2.00	30.74	1,370	2,636
JPC	Nuv Pref & Incm Opp Fd	Nuveen	1.20	-5.47	7.51	0.98	36.04	926	2,098
DFP	F&C Dyn Pref and Incm Fd	Flaherty & Crumrine	1.29	7.03	7.35	0.00	33.90	483	1,550
PDT	JH Prm Div Fd	John Hancock	1.08	-1.36	9.47	10.46	37.33	609	1,271
HPI	JH Pref Incm Fd	John Hancock	1.12	1.68	7.88	4.09	32.32	483	1,186
ARCC	Ares Capital Corp	Ares	1.12	-10.87	11.34	0.00	50.96	6,690	30,243
FSKR	FS KKR Capital Corp. II	FS/KKR	1.29	-40.21	15.19	0.00	43.65	4,163	10,275
MAIN	Main Street Cap Corp	Main Street Capital	1.14	45.61	8.10	0.00	44.46	1,373	10,046
ORCC	Owl Rock Capital Corp	Owl Rock	1.19	-14.39	9.98	0.00	36.80	5,586	13,243
PSEC	Prospect Capital Corp	Prospect Capital	1.19	-37.41	14.06	0.00	40.33	3,084	7,062
GBDC	Golub Capital BDC	Golub Capital	1.30	-6.19	8.80	0.00	45.74	2,350	6,370
FSK	FS KKR Capital Corp	FS/KKR	1.37	-31.28	14.94	0.00	56.47	2,892	10,390
RQI	C&S Qlty Incm Rty Fd	Cohen & Steers	1.19	-8.31	8.61	0.00	24.20	1,632	5,160
RNP	C&S REIT & Pref Incm Fd	Cohen & Steers	1.24	-7.22	7.29	0.00	25.70	1,047	2,793
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Clarion	1.16	-18.94	10.08	60.54	21.44	856	2,361
AWP	Abd Glbl Prmr Prop Fd	Aberdeen	1.16	-16.09	10.34	50.96	0.00	472	1,847
JRI	Nuv Rel-Ast Incm & Gwth Fd	Nuveen	1.23	-14.90	9.52	27.81	28.19	393	1,188
RFI	C&S Tot Rtn Ry Fd	Cohen & Steers	1.15	-2.17	7.90	32.69	0.00	326	1,095
NRO	NB Rel-Est Sec Incm Fd	Neuberger Berman	1.22	-6.44	12.70	65.58	13.80	192	988
CHY	Calamos Convt & Hi Incm Fd	Calamos	1.21	-12.66	8.75	1.90	29.56	978	2,989
CHI	Calamos Convt Opp & Incm	Calamos	1.21	-13.02	8.71	1.98	29.16	899	2,368
NCZ	AG Convt & Incm Fd II	Allianz	1.24	-13.29	10.95	32.01	42.29	361	2,518
CCD	Calamos Dyn Convt & Incm Fd	Calamos	1.27	-10.18	8.80	3.85	28.96	621	1,928
NCV	AG Convt & Incm Fd	Allianz	1.24	-12.85	11.06	36.65	41.79	478	2,738
AVK	Advent Convt & Incm Fd	Guggenheim Funds	1.23	-14.98	10.24	71.20	37.07	558	1,574
ACV	AG Divr Incm & Convt Fd	Allianz	1.29	-12.99	7.92	0.00	25.27	301	1,246
EXG	EV Tx-Mgd Glbl Divr Eq Incm	Eaton Vance	1.17	-12.05	10.03	92.90	0.00	2,538	4,638
QQQX	Nuv Nasdaq 100 Dyn Owrt Fd	Nuveen	1.23	-1.34	6.42	94.72	0.00	1,015	4,385
BST	BR Sci & Tech Tr	BlackRock	1.30	0.09	4.69	29.01	0.00	1,022	4,247
BDJ	BR Enh Eq Div Tr	BlackRock	1.15	-11.97	8.24	1.85	0.00	1,551	4,199
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	1.14	2.67	9.61	94.96	0.00	1,224	3,313
ETY	EV Tx-Mgd Divr Eq Incm Fd	Eaton Vance	1.18	-8.55	9.27	77.44	0.00	1,810	3,655
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	1.15	-10.46	10.19	60.40	0.00	1,028	2,367
JQC	Nuv Cr Stgs Incm Fd	Nuveen	1.21	-13.99	16.47	59.47	35.74	930	3,201
HFRO	Highland Incm Fd	Highland Capital	1.28	-30.68	10.51	17.36	35.10	905	3,234
VVR	Invsc Sr Incm Tr	Invesco	1.21	-14.82	6.63	12.93	29.00	650	3,271
VTA	Invsc Dyn Cr Opp Fd	Invesco	1.22	-15.96	9.71	0.99	30.00	695	3,039
BGB	B/GSO Stgc Cr Fd	GSO / Blackstone	1.24	-11.27	7.91	0.00	37.61	611	1,792
JFR	Nuv Flt Rt Incm Fd	Nuveen	1.23	-12.54	6.65	0.00	36.10	540	3,103
EFT	EV Flt-Rt Incm Tr	Eaton Vance	1.21	-13.54	6.23	0.00	34.80	551	1,042
KYN	KA MLP/Midstream Inv Co	Kayne Anderson	0.88	-25.41	14.81	100.00	33.33	687	3,612
TYG	Tortoise Nrg Infra Corp	Tortoise	1.08	-26.04	8.12	81.16	29.00	261	1,713
FEI	FT MLP & Nrg Incm Fd	First Trust	0.99	-23.66	12.74	68.23	20.14	290	1,067
CEM	CB MLP & Midstream Fd	Legg Mason	0.83	-25.52	16.99	86.73	34.01	209	938
NTG	Tortoise Midstream Nrg Fd	Tortoise	0.98	-27.31	8.53	95.50	25.20	124	703
FEN	FT Nrg Incm & Gwth Fd	First Trust	1.00	-22.45	13.16	83.90	20.25	235	960
KMF	KA Midstream/Nrg Fd	Kayne Anderson	1.05	-27.07	8.67	67.94	30.67	269	709
HYT	BR Corp Hi Yld Fd	BlackRock	1.21	-5.88	8.85	11.15	30.79	1,368	4,097
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	1.26	-11.04	9.42	0.00	30.22	224	3,783
DHY	CS Hi Yld Bnd Fd	Credit Suisse	1.27	-9.62	9.17	5.21	30.29	247	2,975
HIO	WA Hi Incm Opp Fd	Legg Mason	1.25	-6.27	7.91	8.32	0.00	667	1,872
HIX	WA Hi Incm Fd II	Legg Mason	1.22	-5.71	9.13	5.24	29.90	575	1,516
ISD	PGIM Hi Yld Bnd Fd	Prudential	1.21	-12.79	9.15	3.99	25.16	525	1,360
EAD	WF Incm Opp Fd	Wells Fargo	1.23	-12.07	9.24	0.00	25.00	507	1,303
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	1.22	27.72	9.70	1.59	39.79	1,109	5,966
PCN	PIMCO Corp & Incm Stgy Fd	PIMCO	1.14	19.27	8.76	0.40	31.69	516	1,297
PIM	Putnam Mstr Imd Incm Tr	Putnam	1.16	-5.83	8.91	46.78	1.73	220	457
IGI	WA Inv Grd Dfin Opp Tr	Legg Mason	1.12	-2.16	3.83	0.54	0.00	231	589
VBF	Invsc Bnd Fd	Invesco	1.16	-5.10	3.76	1.37	0.00	241	556
DUC	D&P Util & Corp Bnd Tr	Duff & Phelps	1.14	-4.47	6.54	48.31	29.00	264	232
GDO	WA Glbl Corp Dfin Opp Fd	Legg Mason	1.20	-6.42	7.23	20.43	29.50	268	511
CLM	Cornerstone Stgc Val Fd	Cornerstone	1.26	14.54	20.46	86.75	0.00	726	6,583
GDV	Gabelli Div & Incm Tr	Gabelli	1.21	-15.93	7.27	16.21	18.00	1,955	4,249
USA	Liberty All-Star Eq Fd	ALPS	1.23	-7.44	10.72	0.00	0.00	1,373	4,152
RVT	Royce Val Tr	Legg Mason	1.18	-15.39	7.94	8.74	4.64	1,495	2,896
EVT	EV Tx-Adv Div Incm Fd	Eaton Vance	1.19	-7.62	8.86	7.41	23.00	1,563	3,112
ADX	Adams Divr Eq Fd	Adams Funds	1.24	-14.55	5.59	0.00	0.00	2,047	3,006
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.27	17.61	20.05	89.12	0.00	370	3,868
BSTZ	BR Sci & Tech Tr II	BlackRock	1.28	-12.89	4.79	100.00	0.00	2,247	6,244
AOD	Abd Tot Dyn Div Fd	Aberdeen	1.19	-14.36	8.77	6.23	0.00	969	2,144
IFN	India Fund	Aberdeen	1.21	-14.63	11.26	14.29	0.00	515	1,415
CAF	MS China A Shr Fd	Morgan Stanley	1.25	-17.18	3.87	0.00	0.00	560	1,519
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.20	-15.46	9.76	72.75	0.00	563	1,714
BGY	BR Enh Intl DivTr	BlackRock	1.20	-13.56	7.67	56.93	0.00	640	1,068
TDF	Tmp Dragon Fd	Templeton	1.39	-12.29	8.43	0.00	0.00	839	1,606
NEA	Nuv AMT-Fr Qlty Muni Incm Fd	Nuveen	1.20	-8.43	4.73	0.00	37.33	4,360	6,519
NVG	Nuv AMT-Fr Muni Cr Incm Fd	Nuveen	1.18	-8.27	5.06	0.00	37.71	3,610	5,174
NAD	Nuv Qlty Muni Incm Fd	Nuveen	1.20	-8.67	4.71	0.00	37.19	3,367	5,203
BBN	BR Taxable Muni BndTr	BlackRock	1.20	3.19	5.18	0.08	33.73	1,436	4,372
NZF	Nuv Muni Cr Incm Fd	Nuveen	1.15	-9.41	5.12	0.00	37.69	2,297	3,431
NMZ	Nuv Muni Hi Incm Opp Fd	Nuveen	1.18	0.15	5.56	0.00	35.61	1,098	2,713
NUV	Nuv Muni Val Fd	Nuveen	1.20	0.19	3.52	0.00	1.34	2,186	3,009

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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