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03. Equity Income Index

Data as of

About the Index

(1) US Equity, Non-US Equity, Specialty Equity and Hybrid / Balanced Funds groupings according to CEFdata.com with regular distributions monthly or quarterly without a large year-end distribution in both of the past two calendar years. (2) Removing Preferred Equity, Single Country Funds. (3) Funds with US + Non-US Bonds exposure combined under 40%. (4) Top 50% ranked by 90-day average trading dollar ($) liquidity. (5) If there are only 1-3 funds in a group then combine all of these funds equal weight into a double allocation (estimated at 15.2% as each grouping is currently about 7.7% per group, but could change over time). (6) Remove current commodity funds as they are both liquidating in 1Q17; however, allow future commodity funds if they meet the other index criteria. For groups according to CEFdata.com with at least 3 funds, keep them grouped and give each group an equal weighting of the underlying funds. If there are less than 3 funds in the remaining group add them to a separate group. This group will have the double allocation mentioned previously. 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 1,717.96 0.94 0.96 -2.43 3.63 16.56 8.66 2.48 6.53 5.70 -4.43 -4.43 2.70
NAV 1,585.05 0.59 0.08 -2.49 2.75 13.42 8.66 2.70 5.97 4.94 -4.17 -4.17 0.76
Difference -0.35 -0.88 -0.06 -0.88 -3.14 -0.01 0.22 -0.56 -0.75 0.26 0.26 -1.93
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
2024 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 0.72 2.26 4.34 7.46 - - - - - - - - - - - - - - -
NAV -1.15 2.42 3.87 5.15 - - - - - - - - - - - - - - -
Difference -1.87 0.16 -0.47 -2.31 - - - - - - - - - - - - - - -
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 9.19 -3.51 -0.43 4.91 -0.05 -3.20 5.81 2.37 7.40 4.40 -3.77 -4.69 -4.24 -5.10 8.47 4.16 7.22 2.67 10.27
NAV 6.70 -3.92 0.78 3.33 1.25 -3.20 5.24 3.15 6.58 3.80 -3.06 -3.91 -3.31 -3.01 8.37 3.54 8.82 5.22 12.15
Difference -2.49 -0.41 1.21 -1.58 1.30 0.00 -0.57 0.78 -0.82 -0.60 0.71 0.77 0.93 2.09 -0.11 -0.62 1.60 2.55 1.88
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -2.02 -2.25 4.01 -0.39 -6.79 0.73 -8.34 -13.94 -14.27 8.02 -2.54 -11.87 -7.23 7.26 5.84 -5.10 7.73 -0.05 -14.31
NAV -2.83 -0.70 3.38 -0.26 -6.03 1.08 -8.53 -13.12 -13.35 7.03 -3.08 -9.48 -6.11 6.88 6.68 -4.17 9.26 2.59 -11.11
Difference -0.81 1.55 -0.63 0.13 0.76 0.34 -0.19 0.81 0.92 -0.99 -0.54 2.39 1.12 -0.38 0.84 0.93 1.52 2.64 3.20
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 2.36 5.25 4.55 12.64 4.83 3.58 1.25 9.94 23.83 -0.47 2.55 -3.35 -1.35 5.54 -3.44 3.93 5.92 4.48 29.38
NAV 0.78 3.58 3.86 8.42 4.66 2.18 0.70 7.69 16.76 0.17 1.56 -3.15 -1.46 5.20 -3.79 4.49 5.76 4.21 21.67
Difference -1.58 -1.68 -0.68 -4.21 -0.17 -1.40 -0.55 -2.25 -7.07 0.65 -0.99 0.20 -0.11 -0.34 -0.34 0.55 -0.16 -0.28 -7.71
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price -1.07 -11.61 -23.74 -33.31 16.48 4.95 0.26 22.56 -18.26 2.57 3.56 -4.48 1.46 -1.90 17.64 4.67 20.79 22.55 0.17
NAV -1.90 -8.84 -21.85 -30.11 14.43 4.86 0.67 20.80 -15.58 3.98 3.08 -3.96 2.94 -0.78 13.06 4.26 16.96 20.40 1.65
Difference -0.83 2.76 1.88 3.19 -2.05 -0.09 0.42 -1.76 2.68 1.41 -0.48 0.52 1.49 1.12 -4.58 -0.41 -3.83 -2.15 1.47
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 13.70 1.76 1.62 17.58 2.12 -4.95 6.38 3.26 21.41 0.90 -2.93 3.04 0.91 1.27 1.15 3.56 6.07 7.04 29.96
NAV 9.97 1.97 1.63 13.96 1.41 -4.72 5.58 2.01 16.26 -0.12 -1.83 1.88 -0.11 1.39 0.96 3.70 6.16 6.04 23.28
Difference -3.73 0.20 0.01 -3.62 -0.71 0.22 -0.79 -1.24 -5.16 -1.02 1.10 -1.16 -1.02 0.13 -0.19 0.14 0.08 -1.00 -6.68
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 3.20 -4.81 -1.70 -3.44 2.61 0.83 -0.06 3.39 -0.17 2.50 1.36 -0.71 3.15 -9.03 2.81 -10.37 -16.17 -13.54 -13.68
NAV 3.73 -6.10 -1.10 -3.67 2.00 1.17 -0.22 2.97 -0.81 3.41 0.76 -0.39 3.80 -6.67 1.65 -8.04 -12.77 -9.46 -10.19
Difference 0.53 -1.29 0.60 -0.23 -0.60 0.35 -0.16 -0.42 -0.64 0.91 -0.60 0.33 0.65 2.35 -1.16 2.33 3.41 4.08 3.49
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.91 3.26 0.59 8.97 3.36 0.32 1.23 4.97 14.38 2.49 -1.14 2.88 4.24 -0.41 -0.55 3.11 2.12 6.45 21.76
NAV 2.39 2.74 0.54 5.76 0.87 0.23 1.09 2.21 8.10 2.35 -0.47 1.71 3.61 -0.10 1.33 1.64 2.89 6.60 15.23
Difference -2.53 -0.52 -0.05 -3.21 -2.49 -0.09 -0.13 -2.76 -6.29 -0.13 0.67 -1.18 -0.63 0.31 1.88 -1.46 0.77 0.15 -6.53
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -7.52 0.42 8.11 0.40 4.50 0.79 2.57 8.03 8.46 4.12 -0.03 0.12 4.21 -3.87 0.93 1.69 -1.33 2.83 11.52
NAV -6.13 -0.69 6.78 -0.46 3.18 1.08 1.58 5.95 5.46 3.29 -0.37 0.59 3.52 -2.77 0.50 2.31 -0.03 3.49 9.14
Difference 1.39 -1.11 -1.33 -0.86 -1.32 0.29 -0.98 -2.08 -3.00 -0.83 -0.33 0.47 -0.69 1.10 -0.43 0.61 1.30 0.67 -2.38
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price -0.10 3.63 -2.06 1.40 1.80 -0.51 -3.74 -2.51 -1.15 -2.39 -5.93 -5.94 -13.63 9.45 -3.02 -2.77 3.20 -10.87 -11.89
NAV -0.60 3.35 -1.65 1.04 2.23 -0.11 -3.10 -1.05 -0.03 -0.45 -5.74 -4.87 -10.74 7.09 -1.92 -3.17 1.70 -9.22 -9.24
Difference -0.50 -0.28 0.41 -0.36 0.43 0.40 0.63 1.46 1.12 1.93 0.20 1.07 2.90 -2.36 1.10 -0.40 -1.50 1.65 2.65
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price -1.51 4.96 0.98 4.40 2.35 3.00 2.66 8.23 12.99 -1.65 2.96 -4.09 -2.88 1.12 1.02 -2.65 -0.56 -3.43 9.11
NAV -1.24 4.35 0.79 3.87 1.79 2.16 2.83 6.93 11.07 -2.04 3.39 -3.91 -2.68 0.90 0.22 -1.33 -0.22 -2.90 7.85
Difference 0.26 -0.62 -0.19 -0.53 -0.56 -0.84 0.17 -1.29 -1.92 -0.39 0.43 0.18 0.20 -0.22 -0.79 1.32 0.34 0.53 -1.27
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 7.81 0.66 2.82 11.58 1.57 -0.60 -2.37 -1.43 9.99 2.86 -3.81 2.17 1.09 3.89 -1.03 2.03 4.89 6.04 16.63
NAV 5.12 0.15 2.55 7.96 2.56 -1.08 -2.50 -1.08 6.80 4.00 -2.71 3.70 4.93 3.29 0.31 1.52 5.19 10.38 17.88
Difference -2.69 -0.51 -0.27 -3.62 0.99 -0.48 -0.13 0.35 -3.19 1.14 1.10 1.53 3.84 -0.59 1.35 -0.51 0.30 4.34 1.25
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 8.89 4.10 0.22 13.60 0.39 -7.09 3.55 -3.42 9.72 3.36 2.34 2.56 8.50 -1.16 -1.80 0.32 -2.64 5.63 15.90
NAV 4.65 3.61 0.30 8.75 0.12 -7.27 3.73 -3.69 4.74 2.69 1.87 2.26 6.97 -0.16 -0.25 1.11 0.69 7.71 12.81
Difference -4.23 -0.49 0.07 -4.85 -0.26 -0.18 0.18 -0.27 -4.98 -0.68 -0.47 -0.30 -1.52 1.00 1.56 0.79 3.33 2.08 -3.09

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-9.17%
1Yr Disc
-9.70%
3Yr Disc
-6.72%
5Yr Disc
-6.92%
Rel Disc Range (3yr)
37.74%
Mkt Yield
9.98%
Lev Adj NAV Yield
8.16%
After Tax Yield*
8.96%
Est Tax Friction*
1.02%
3Yr NAV Volatiliy
19.18
1 Yr RoC
51.85%
3 Yr Dest RoC
31.83%
Leverage
12.18%
Non Lev Exp Ratio
1.40%
Beta (2yr)
0.89
Equity Exposure
88.04%
Bond Exposure
9.55%
# Holdings
62
Cash Weighted Duration
0.04
Comp NAV TR
0.27%
Comp Discount
-1.05%
Net Assets (M)
966
Liquidity - 90d (K)
2,476
* 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


62 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
BDJ BR Enh Eq Div Tr BlackRock 0.84 -11.41 8.43 17.46 0.00 1,681 4,134
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 0.82 -12.68 10.13 70.68 0.00 2,729 3,983
BST BR Sci & Tech Tr BlackRock 0.79 -1.96 8.94 33.83 0.00 1,188 3,484
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.84 -3.08 9.21 0.00 0.00 2,098 3,082
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 0.84 -6.57 9.52 65.57 0.00 1,565 2,966
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 0.82 -10.25 7.44 37.64 0.00 1,229 2,768
NFJ Virtus Div Int & Prm Stgy Fd Virtus 0.81 -15.28 9.40 0.00 0.00 1,334 2,451
BXMX Nuv S&P 500 By-Wrt Inc Fd Nuveen 0.84 -11.67 7.53 42.99 0.00 1,481 2,393
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 0.82 -13.03 10.20 55.20 0.00 984 2,114
EOS EV Enh Eq Incm Fd II Eaton Vance 0.83 -4.19 9.40 40.26 0.00 1,062 1,676
BOE BR Enh Glbl DivTr BlackRock 0.83 -15.14 7.58 74.04 0.00 724 1,533
KYN KA Nrg Infra Fd Kayne Anderson 1.35 -13.49 9.03 8.49 21.32 1,906 4,590
CEM CB MLP & Midstream Fd Franklin Templeton 1.36 -6.88 6.73 33.18 28.09 653 1,148
NML NB Nrg Infra & Incm Fd Neuberger Berman 1.36 -13.40 9.51 100.00 18.85 482 1,723
TYG Tortoise Nrg Infra Corp Tortoise 1.40 -17.24 8.95 42.07 21.00 412 1,356
SRV NXG Cushing Midstream Nrg Fd Cushing 1.36 1.80 13.05 84.67 25.47 118 1,438
FEI FT MLP & Nrg Incm Fd First Trust 1.38 -1.32 6.17 26.50 17.85 446 1,269
EMO CB Nrg Midstream Opp Fd Franklin Templeton 1.36 -7.23 6.58 21.51 27.70 561 1,023
RQI C&S Qlty Incm Rty Fd Cohen&Steers 2.17 -4.43 8.72 15.24 29.40 1,549 4,422
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 2.16 -7.40 14.75 33.63 25.02 738 3,051
AWP abrdn Glbl Prmr Prop Fd abrdn 2.20 -2.66 13.11 68.27 14.94 321 1,061
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 2.16 -8.54 9.86 56.65 34.60 245 1,031
BSTZ BR Sci & Tech Trm Tr BlackRock 1.40 -16.04 7.30 93.28 0.00 1,556 4,783
AOD abrdn Tot Dyn Div Fd abrdn 1.51 -15.56 8.77 34.33 2.57 983 2,282
BGY BR Enh Intl DivTr BlackRock 1.49 -14.31 7.79 70.59 0.00 610 1,064
IGD Voya Glbl Eq Div & Prm Opp Voya 1.55 -12.44 11.67 70.75 0.00 463 1,088
LGI Lzrd Glbl Tot Rtn & Incm Fd Lazard 1.48 -14.49 8.31 72.22 29.26 230 611
HGLB Highland Glbl Alloc Fd NexPoint 1.47 -37.36 13.67 0.00 3.11 257 511
BMEZ BR Health Sci Trm Tr BlackRock 2.12 -15.38 7.42 100.00 0.00 1,835 4,604
THQ abrdn Health Opp Fd abrdn 2.27 -7.93 11.27 60.79 20.40 861 3,304
HQH abrdn Health Invstr abrdn 2.27 -14.07 11.91 67.98 0.00 928 2,611
THW abrdn Wld Health Fd abrdn 2.28 7.37 11.04 77.32 20.80 450 1,538
BCX BR Res & Com Stgy Tr BlackRock 2.39 -14.19 6.81 60.33 0.00 898 3,032
PDX Dyn Incm Stgy Fd PIMCO 2.41 -10.61 6.40 20.74 9.08 1,062 2,633
GGN GAMCO Glbl Gd NtrRes Incm Gabelli 2.47 -0.74 8.98 85.44 11.00 623 1,828
FIF FT Nrg Infra Fd First Trust 2.39 -1.63 6.62 0.00 20.10 289 1,104
ECAT BR ESG Cap Alloc Trm Tr BlackRock 1.26 -10.75 11.18 80.39 0.00 1,838 3,972
CSQ Calamos Stgc Tot Rtn Fd Calamos 1.30 -1.71 7.91 25.00 30.56 2,537 3,357
NIE Virtus Eq & Convt Incm Fd Virtus 1.31 -10.15 9.26 56.64 0.00 666 1,537
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 1.31 -13.64 8.09 15.68 0.00 574 1,135
ZTR Virtus Tot Rtn Fd Virtus 1.30 -11.46 11.26 92.19 30.68 413 1,331
RIV RiverNorth Opp Fd RiverNorth 1.29 -5.84 13.51 79.25 32.42 261 960
SCD LMP Cap & Incm Fd Franklin Templeton 1.29 -6.25 9.23 69.37 19.16 269 899
CLM Cornerstone Stgc Val Fd Cornerstone 1.30 8.43 18.10 49.87 0.00 1,575 10,306
BIGZ BR Innovation & Gwth Trm Tr BlackRock 1.19 -16.55 7.51 100.00 0.00 1,912 5,174
USA Liberty All-Star Eq Fd ALPS 1.26 -0.90 10.84 0.00 0.00 1,873 5,327
CRF Cornerstone Tot Rtn Fd Cornerstone 1.31 14.33 17.14 44.92 0.00 707 4,954
RVT Royce Val Tr Franklin Templeton 1.26 -12.52 7.69 4.71 1.87 1,823 3,278
NBXG NB Nxt Gen Connectivity Fd Neuberger Berman 1.32 -14.30 10.54 91.67 0.00 1,047 2,876
ASG Liberty All-Star Gwth Fd ALPS 1.26 -9.14 9.47 25.00 0.00 330 1,538
UTG Reaves Util Incm Fd W.H. Reaves 1.53 0.23 8.76 3.96 20.93 2,027 8,409
UTF C&S Infra Fd Cohen&Steers 1.50 0.04 8.35 19.34 30.00 2,145 5,507
DNP DNP Sel Incm Fd Virtus 1.55 13.37 8.84 26.18 28.20 2,821 5,333
MEGI MainStay CBRE Glbl Infra MTrnd Trm New York Life 1.48 -14.22 12.76 17.24 25.00 714 1,829
ASGI abrdn Glbl Infra Incm Fd abrdn 1.52 -14.38 10.61 9.88 0.00 500 1,295
DPG D&P Util & Infra Fd Virtus 1.55 -13.08 8.96 85.27 28.93 412 1,340
IAE Voya AP Hi Div Eq Incm Fd Voya 3.07 -14.10 13.07 75.00 0.00 77 236
AEF abrdn Emrg Mkt Eq Incm Fd abrdn 3.08 -14.63 7.35 77.95 10.32 291 511
GDV Gabelli Div & Incm Tr Gabelli 3.03 -16.57 6.01 23.39 12.00 2,369 3,676
EVT EV Tx-Adv Div Incm Fd Eaton Vance 3.01 -10.71 8.81 6.97 19.70 1,872 2,676
CUBA Herzfeld Caribbean Basin Fd Herzfeld Cuba 2.94 -26.38 22.56 94.34 0.00 49 213
BTO JH Fin Opp Fd John Hancock 2.97 -1.04 9.38 17.21 17.79 551 1,426

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 %