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09. Premium CEF/BDC Index

Data as of 11/19/2024 10/31/2024 09/30/2024 08/30/2024 07/31/2024 06/28/2024 05/31/2024 04/30/2024 03/28/2024 02/29/2024 01/31/2024 12/29/2023 11/30/2023 10/31/2023 09/29/2023 08/31/2023 07/31/2023 06/30/2023 05/31/2023 04/28/2023 03/31/2023 03/23/2023 02/28/2023 01/31/2023 12/30/2022 11/30/2022 10/31/2022 09/30/2022 08/31/2022 07/29/2022 06/30/2022 05/31/2022 04/29/2022 03/31/2022 02/28/2022 02/11/2022 01/31/2022 12/31/2021 11/30/2021 10/29/2021 09/30/2021 08/31/2021 07/30/2021 06/30/2021 05/28/2021 04/30/2021 03/31/2021 02/26/2021 01/29/2021 12/31/2020 11/30/2020 10/30/2020 09/30/2020 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(%)	10 Year(%)	MTD(%)	QTD(%)	YTD(%)
Price	990.71	0.06	-0.98	-2.45	1.14	3.10	11.88	-4.42	-2.66	-1.06	-0.19	-2.84	6.66
NAV	1,763.14	0.19	0.01	0.12	3.19	7.38	18.94	3.36	7.25	6.29	0.86	0.09	12.31
Difference		0.13	0.98	2.57	2.05	4.28	7.07	7.77	9.91	7.35	1.04	2.93	5.65
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.13

2024 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2024
Price	0.66	1.04	1.16	2.89	-1.84	2.04	0.81	0.97	3.89	2.18	0.90	2.48	5.65	-2.66	-	-	-	-	-
NAV	1.08	0.74	1.64	3.49	-0.50	1.63	1.12	2.25	5.82	1.97	1.98	1.97	6.03	-0.76	-	-	-	-	-
Difference	0.41	-0.30	0.48	0.60	1.34	-0.41	0.30	1.28	1.93	-0.20	1.07	-0.51	0.38	1.90	-	-	-	-	-
2023 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2023
Price	3.62	-3.05	-0.88	-0.42	-0.80	-2.94	4.27	0.40	-0.02	4.86	-3.17	0.30	1.84	-6.10	7.78	3.39	4.64	6.57	6.55
NAV	5.38	-2.99	0.63	2.87	0.22	-0.81	3.18	2.57	5.51	2.42	-0.56	-3.42	-1.64	-1.64	6.59	3.98	9.02	7.23	13.14
Difference	1.76	0.05	1.51	3.29	1.02	2.13	-1.09	2.17	5.53	-2.44	2.61	-3.73	-3.48	4.46	-1.20	0.60	4.38	0.66	6.59
2022 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	-6.56	-3.13	0.22	-9.28	-8.57	-2.49	-8.03	-18.01	-25.62	6.56	-3.32	-11.57	-8.90	4.05	4.74	3.08	12.33	2.34	-23.88
NAV	-2.81	-1.34	-0.13	-4.24	-6.37	-0.03	-7.02	-12.97	-16.66	5.62	-2.08	-6.71	-3.52	3.69	6.27	-3.32	6.54	2.79	-14.34
Difference	3.75	1.78	-0.35	5.04	2.20	2.47	1.01	5.04	8.96	-0.95	1.24	4.86	5.38	-0.36	1.54	-6.40	-5.80	0.45	9.54
2021 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	0.50	1.51	3.08	5.15	2.30	0.91	2.12	5.42	10.85	-0.74	0.01	-4.01	-4.71	1.49	-0.83	1.31	1.97	-2.83	7.71
NAV	0.35	0.45	1.86	2.68	2.56	1.42	1.59	5.67	8.50	0.83	1.51	-1.38	0.94	1.92	-0.74	2.58	3.77	4.75	13.66
Difference	-0.15	-1.05	-1.21	-2.47	0.26	0.51	-0.53	0.25	-2.35	1.57	1.50	2.63	5.65	0.43	0.09	1.26	1.80	7.59	5.95
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	1.20	-9.40	-21.67	-28.18	2.94	5.87	1.90	11.05	-20.25	2.00	2.37	-1.35	3.01	-1.99	9.31	3.65	11.05	14.39	-8.77
NAV	2.16	-2.29	-15.42	-15.57	3.55	5.74	3.35	13.16	-4.46	4.13	2.30	-0.32	6.18	0.72	5.74	2.59	9.25	16.01	10.84
Difference	0.96	7.11	6.25	12.61	0.61	-0.13	1.46	2.11	15.79	2.13	-0.08	1.04	3.17	2.71	-3.58	-1.06	-1.79	1.62	19.61
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	7.34	1.90	1.64	11.16	-0.09	-2.39	4.16	1.59	12.93	0.75	-3.03	1.25	-1.08	-0.39	-0.17	2.10	1.53	0.43	13.42
NAV	5.18	1.21	2.36	8.97	1.65	-1.43	3.11	3.32	12.58	0.23	-0.61	0.86	0.48	0.12	-0.31	2.94	2.74	3.23	16.21
Difference	-2.16	-0.69	0.72	-2.20	1.75	0.96	-1.05	1.73	-0.34	-0.52	2.42	-0.39	1.56	0.51	-0.14	0.84	1.21	2.79	2.80
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	-2.63	-2.95	-0.80	-6.26	3.26	2.25	-1.18	4.33	-2.20	1.65	1.27	-0.94	1.98	-7.25	1.85	1.58	-4.05	-2.15	-4.31
NAV	1.18	-2.30	-0.61	-1.75	1.79	1.80	-0.03	3.60	1.79	1.29	0.66	0.63	2.61	-2.75	0.09	-2.02	-4.62	-2.14	-0.39
Difference	3.81	0.64	0.20	4.51	-1.46	-0.44	1.15	-0.73	3.99	-0.36	-0.61	1.57	0.63	4.50	-1.76	-3.60	-0.57	0.01	3.92
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	2.10	0.83	0.01	2.95	2.44	1.54	-0.01	4.00	7.07	0.49	-0.79	0.80	0.49	-0.46	-0.74	1.02	-0.19	0.30	7.39
NAV	1.46	1.56	0.52	3.58	1.36	1.27	0.17	2.83	6.51	1.25	0.53	0.47	2.27	0.62	0.66	0.66	1.95	4.26	11.06
Difference	-0.64	0.73	0.51	0.63	-1.07	-0.27	0.18	-1.17	-0.56	0.76	1.32	-0.32	1.78	1.08	1.40	-0.36	2.14	3.97	3.67
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-2.61	1.39	3.81	2.51	4.47	-0.03	4.45	9.09	11.82	2.68	0.53	-1.61	1.56	-5.01	-1.71	0.69	-5.98	-4.52	6.77
NAV	-1.37	0.13	2.09	0.82	4.51	1.22	3.13	9.09	9.98	1.18	0.47	1.69	3.38	-0.75	-2.50	2.04	-1.25	2.08	12.27
Difference	1.24	-1.26	-1.72	-1.68	0.04	1.24	-1.32	-0.00	-1.84	-1.49	-0.05	3.30	1.82	4.26	-0.79	1.35	4.73	6.60	5.50
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	-2.05	1.51	-1.76	-2.31	0.74	-1.39	-5.22	-5.84	-8.02	-0.91	-4.17	-4.03	-8.87	6.68	-3.72	-0.92	1.76	-7.27	-14.70
NAV	-0.62	2.22	-0.60	0.98	1.06	0.69	-1.96	-0.24	0.74	0.43	-3.16	-2.48	-5.15	4.95	-2.06	-3.15	-0.44	-5.57	-4.87
Difference	1.43	0.71	1.16	3.29	0.31	2.08	3.26	5.60	8.76	1.35	1.01	1.55	3.72	-1.72	1.66	-2.23	-2.20	1.69	9.83
2014 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2014
Price	1.89	2.54	0.28	4.76	1.67	3.08	2.03	6.93	12.02	-2.13	3.99	-2.36	-0.63	1.72	1.47	-0.74	2.45	1.80	14.04
NAV	1.46	2.29	0.55	4.36	1.42	2.03	2.61	6.19	10.82	-1.25	2.95	-1.29	0.35	-0.51	-0.40	-1.99	-2.87	-2.53	8.01
Difference	-0.42	-0.25	0.27	-0.41	-0.25	-1.05	0.58	-0.74	-1.20	0.88	-1.04	1.07	0.98	-2.23	-1.86	-1.25	-5.32	-4.33	-6.03
2013 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2013
Price	6.40	1.67	0.48	8.70	2.11	-1.01	-1.75	-0.69	7.95	-0.44	-1.61	2.01	-0.07	2.47	0.10	2.17	4.81	4.74	13.06
NAV	3.84	0.45	2.02	6.42	2.00	-0.08	-2.17	-0.29	6.11	1.79	-1.68	2.59	2.67	2.00	0.78	1.01	3.84	6.61	13.12
Difference	-2.56	-1.21	1.54	-2.28	-0.11	0.93	-0.42	0.40	-1.84	2.23	-0.07	0.57	2.74	-0.47	0.67	-1.16	-0.97	1.87	0.06
2012 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2012
Price	5.58	2.84	0.06	8.64	1.38	-2.44	3.24	2.11	10.94	2.83	0.97	2.39	6.31	-0.67	-1.12	-1.22	-2.98	3.14	14.42
NAV	4.00	2.55	0.19	6.85	0.91	-2.37	1.24	-0.27	6.56	2.14	1.54	1.84	5.62	0.59	0.64	-0.02	1.22	6.91	13.92
Difference	-1.58	-0.30	0.13	-1.79	-0.47	0.06	-2.01	-2.39	-4.38	-0.69	0.57	-0.55	-0.68	1.26	1.77	1.20	4.20	3.78	-0.49

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount 11.92%	1Yr Disc 8.06%	3Yr Disc 5.18%	5Yr Disc 4.54%	Rel Disc Range (3yr) 63.19%
Mkt Yield 9.82%	Lev Adj NAV Yield 8.68%	After Tax Yield* 8.32%	Est Tax Friction* 1.50%	3Yr NAV Volatiliy 10.82
1 Yr RoC 41.07%	3 Yr Dest RoC 27.00%	Leverage 29.26%	Non Lev Exp Ratio 1.90%	Beta (2yr) 0.69
Equity Exposure 23.42%	Bond Exposure 75.06%	# Holdings 33	Cash Weighted Duration 4.94
Comp NAV TR 2.04%	Comp Discount 14.04%	Net Assets (M) 929	Liquidity - 90d (K) 5,210
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

33 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
RCS	PIMCO Stgc Incm Fd	PIMCO	3.65	73.20	7.96	6.39	35.98	206	1,244
CCD	Calamos Dyn Convt & Incm Fd	Calamos	3.43	22.28	9.76	56.79	36.72	527	1,836
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	3.63	32.83	13.92	56.39	17.21	1,835	12,405
CRF	Cornerstone Tot Rtn Fd	Cornerstone	3.96	30.03	14.16	57.01	0.00	779	6,796
PDI	PIMCO Dyn Incm Fd	PIMCO	3.48	11.47	13.82	21.23	35.62	5,817	38,786
MCI	Barings Corp Invstr	Barings	3.65	15.12	8.08	0.00	7.89	350	553
ECC	Eagle Point Cr Co	Eagle Point	3.36	5.23	18.56	0.00	22.24	947	8,761
HPS	JH Pref Incm Fd III	John Hancock	3.29	5.53	8.43	34.95	36.23	473	688
HPI	JH Pref Incm Fd	John Hancock	3.34	4.80	8.48	28.39	36.26	442	774
HPF	JH Pref Incm Fd II	John Hancock	3.37	4.91	8.56	35.77	36.34	355	629
BHK	BR Core Bnd Tr	BlackRock	3.33	5.63	8.09	37.01	33.96	567	1,536
NHS	NB Hi Yld Stgs Fd	Neuberger Berman	3.23	-1.91	14.12	50.53	27.50	225	1,119
EIC	Eagle Point Incm Co	Eagle Point	3.56	4.45	15.28	0.00	28.31	289	2,861
MPV	Barings Partcp Invstr	Barings	3.56	3.61	9.04	0.00	8.17	168	336
PMF	PIMCO Muni Incm Fd	PIMCO	3.36	0.74	5.28	34.26	40.69	249	721
FOF	C&S CE Opp Fd	Cohen&Steers	3.57	4.67	8.17	63.85	0.00	337	556
SRV	NXG Cushing Midstream Nrg Fd	Cushing	3.61	-5.32	12.09	100.00	28.37	189	1,455
PML	PIMCO Muni Incm Fd II	PIMCO	3.35	-1.59	5.47	32.34	39.53	584	1,538
OIA	Invsc Muni Incm Opp Tr	Invesco	3.43	0.62	5.37	16.62	27.31	308	499
PGP	PIMCO Glbl Stk+ & Incm Fd	PIMCO	3.48	3.24	10.40	13.51	20.02	89	286
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Invst Mgmt	3.10	0.00	12.86	57.93	28.77	787	3,269
AWP	abrdn Glbl Prmr Prop Fd	abrdn	3.39	2.38	11.14	67.92	16.50	360	1,227
MUA	BR MuniAst Fd	BlackRock	3.51	1.53	5.56	25.95	29.10	454	1,139
ARDC	Ares Dyn Cr Alloc Fd	Ares	3.62	2.42	9.26	0.00	39.13	341	1,267
NPV	Nuv VA Qlty Muni Incm Fd	Nuveen	3.68	6.56	6.57	21.44	39.28	221	571
GLAD	Gladstone Cap Corp	Gladstone	1.80	26.49	7.39	0.00	39.95	473	3,378
GAIN	Gladstone Inv Corp	Gladstone	1.61	9.69	7.01	0.00	39.25	458	2,359
MAIN	Main Street Cap Corp	Main Street Capital	1.72	73.96	5.53	0.00	43.17	2,696	19,800
NCDL	Nuv Churchill Direct Lending	Churchill DLC Advis	1.62	-6.12	10.56	0.00	51.14	989	1,635
CSWC	Cap Southwest Corp	Capital Southwest	1.46	38.58	10.09	0.00	48.93	791	7,073
ARCC	Ares Capital Corp	Ares	1.68	10.42	8.80	0.00	49.82	12,773	71,676
HTGC	Hercules Capital	Hercules	1.56	67.37	8.39	0.00	47.57	1,852	15,657
PSBD	Palmer Sq Cap BDC	Palmer Sq BDC Advis	1.60	-5.18	10.67	0.00	58.32	542	440

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.