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(%) | MTD(%) | QTD(%) | YTD(%) | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Price | 1,315.40 | 0.61 | 0.19 | -0.35 | 5.46 | 7.61 | 13.13 | 10.34 | 4.95 | -0.28 | 2.15 | 23.90 | |||||||
NAV | 1,222.53 | 0.53 | -0.68 | -0.87 | 3.98 | 5.08 | 9.89 | 7.90 | 3.67 | -0.64 | 1.72 | 17.58 | |||||||
Difference | -0.08 | -0.87 | -0.53 | -1.49 | -2.53 | -3.24 | -2.44 | -1.28 | -0.36 | -0.43 | -6.32 | ||||||||
* Periods greater than 1 Year are annualized. ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00 |
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 | 20.84 | 0.90 | -2.93 | 3.04 | 0.91 | 1.27 | 1.15 | - | - | - | 24.18 |
NAV | 9.97 | 1.97 | 1.63 | 13.96 | 1.41 | -4.72 | 5.58 | 2.01 | 15.98 | -0.12 | -1.83 | 1.88 | -0.11 | 1.39 | 0.96 | - | - | - | 18.22 |
Difference | -3.73 | 0.20 | 0.01 | -3.62 | -0.71 | 0.22 | -0.79 | -1.24 | -4.86 | -1.02 | 1.10 | -1.16 | -1.02 | 0.13 | -0.19 | - | - | - | -5.96 |
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 | -0.05 | 2.50 | 1.36 | -0.71 | 3.15 | -9.03 | 2.81 | -10.37 | -16.17 | -13.03 | -13.08 |
NAV | 3.73 | -6.10 | -1.10 | -3.67 | 2.00 | 1.17 | -0.22 | 2.97 | -0.70 | 3.41 | 0.76 | -0.39 | 3.80 | -6.67 | 1.65 | -8.04 | -12.77 | -8.97 | -9.67 |
Difference | 0.53 | -1.29 | 0.60 | -0.23 | -0.60 | 0.35 | -0.16 | -0.42 | -0.65 | 0.91 | -0.60 | 0.33 | 0.65 | 2.35 | -1.16 | 2.33 | 3.41 | 4.05 | 3.41 |
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 | 13.94 | 2.49 | -1.14 | 2.88 | 4.24 | -0.41 | -0.55 | 3.11 | 2.12 | 6.36 | 20.30 |
NAV | 2.39 | 2.74 | 0.54 | 5.76 | 0.87 | 0.23 | 1.09 | 2.21 | 7.97 | 2.35 | -0.47 | 1.71 | 3.61 | -0.10 | 1.33 | 1.64 | 2.89 | 6.50 | 14.47 |
Difference | -2.53 | -0.52 | -0.05 | -3.21 | -2.49 | -0.09 | -0.13 | -2.76 | -5.97 | -0.13 | 0.67 | -1.18 | -0.63 | 0.31 | 1.88 | -1.46 | 0.77 | 0.14 | -5.83 |
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 | 8.43 | 4.12 | -0.03 | 0.12 | 4.21 | -3.87 | 0.93 | 1.69 | -1.33 | 2.88 | 11.31 |
NAV | -6.13 | -0.69 | 6.78 | -0.46 | 3.18 | 1.08 | 1.58 | 5.95 | 5.49 | 3.29 | -0.37 | 0.59 | 3.52 | -2.77 | 0.50 | 2.31 | -0.03 | 3.49 | 8.98 |
Difference | 1.39 | -1.11 | -1.33 | -0.86 | -1.32 | 0.29 | -0.98 | -2.08 | -2.94 | -0.83 | -0.33 | 0.47 | -0.69 | 1.10 | -0.43 | 0.61 | 1.30 | 0.61 | -2.33 |
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 | -1.11 | -2.39 | -5.93 | -5.94 | -13.63 | 9.45 | -3.02 | -2.77 | 3.20 | -10.43 | -11.54 |
NAV | -0.60 | 3.35 | -1.65 | 1.04 | 2.23 | -0.11 | -3.10 | -1.05 | -0.02 | -0.45 | -5.74 | -4.87 | -10.74 | 7.09 | -1.92 | -3.17 | 1.70 | -9.03 | -9.05 |
Difference | -0.50 | -0.28 | 0.41 | -0.36 | 0.43 | 0.40 | 0.63 | 1.46 | 1.09 | 1.93 | 0.20 | 1.07 | 2.90 | -2.36 | 1.10 | -0.40 | -1.50 | 1.40 | 2.50 |
Performance Chart
Discount
Characteristics
PORTFOLIO Weighted Average Data |
||||
---|---|---|---|---|
Discount -3.45% |
1Yr Disc -5.34% |
3Yr Disc -5.14% |
5Yr Disc -5.96% |
Rel Disc Range (3yr) 61.05% |
Mkt Yield 9.29% |
Lev Adj NAV Yield 7.93% |
After Tax Yield* 8.36% |
Est Tax Friction* 0.93% |
3Yr NAV Volatiliy 13.71 |
1 Yr RoC 47.80% |
3 Yr Dest RoC 17.02% |
Leverage 14.14% |
Non Lev Exp Ratio 1.40% |
Beta (2yr) 0.81 |
Equity Exposure 89.53% |
Bond Exposure 8.23% |
# Holdings 68 |
Cash Weighted Duration |
|
Comp NAV TR 2.55% |
Comp Discount 1.74% |
Net Assets (M) 853 |
Liquidity - 90d (K) 2,307 |
|
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%. |
Asset Allocation
Constituents
68 Funds
Ticker | Name | Sponsor | Allocation | Discount | Market Yield | RoC(1yr) | Leverage | Net Assets | Liquidity (90d) |
---|---|---|---|---|---|---|---|---|---|
EXG | EV Tx-Mgd Glbl Divr Eq Incm | Eaton Vance | 0.62 | -2.71 | 8.57 | 86.39 | 0.00 | 2,686 | 4,699 |
BDJ | BR Enh Eq Div Tr | BlackRock | 0.61 | -3.52 | 6.26 | 0.00 | 0.00 | 1,864 | 4,083 |
ETV | EV Tx-Mgd By-Wrt Opp Fd | Eaton Vance | 0.60 | 2.21 | 8.99 | 85.91 | 0.00 | 1,189 | 3,480 |
ETY | EV Tx-Mgd Divr Eq Incm Fd | Eaton Vance | 0.61 | 1.33 | 8.27 | 56.60 | 0.00 | 1,808 | 3,273 |
ETW | EV Tx-Mgd Glbl By-Wrt Opp | Eaton Vance | 0.62 | -1.36 | 8.57 | 59.44 | 0.00 | 1,109 | 2,682 |
NFJ | AG NFJ Div Int & Prm Stgy | Allianz | 0.62 | -9.08 | 6.97 | 48.63 | 0.00 | 1,347 | 2,797 |
BST | BR Sci & Tech Tr | BlackRock | 0.62 | 3.90 | 5.28 | 0.00 | 0.00 | 739 | 2,087 |
QQQX | Nuv Nasdaq 100 Dyn Owrt Fd | Nuveen | 0.64 | 1.01 | 6.50 | 73.47 | 0.00 | 934 | 2,131 |
BXMX | Nuv S&P 500 By-Wrt Inc Fd | Nuveen | 0.63 | 0.58 | 6.75 | 72.75 | 0.00 | 1,422 | 2,356 |
BOE | BR Enh Glbl DivTr | BlackRock | 0.60 | -10.65 | 7.04 | 48.11 | 0.00 | 792 | 2,122 |
EOS | EV Enh Eq Incm Fd II | Eaton Vance | 0.61 | 0.47 | 6.89 | 23.48 | 0.00 | 825 | 1,652 |
CII | BR Enh Cap & Incm Fd | BlackRock | 0.60 | -5.54 | 6.00 | 31.17 | 0.00 | 773 | 1,637 |
ETJ | EV Risk-Mgd Divr Eq Incm Fd | Eaton Vance | 0.60 | 1.20 | 9.80 | 89.25 | 0.00 | 586 | 1,450 |
DIAX | Nuv Dow 30SM Dyn Owrt Fd | Nuveen | 0.60 | -1.26 | 6.56 | 71.13 | 0.00 | 662 | 1,233 |
KYN | KA MLP/Midstream Inv Co | Kayne Anderson | 0.60 | -9.19 | 11.57 | 40.82 | 36.63 | 1,732 | 8,936 |
TYG | Tortoise Nrg Infra Corp | Tortoise | 0.57 | -2.69 | 15.76 | 100.00 | 36.80 | 918 | 4,773 |
CEN | Center Coast Brkf MLP & Nrg Infr | Brookfield | 0.59 | 3.28 | 20.91 | 97.08 | 30.07 | 195 | 3,052 |
NTG | Tortoise Midstream Nrg Fd | Tortoise | 0.57 | -5.67 | 17.21 | 100.00 | 40.98 | 658 | 4,162 |
CEM | CB MLP & Midstream Fd | Legg Mason | 0.61 | -10.81 | 11.82 | 100.00 | 34.25 | 788 | 3,461 |
MIE | C&S MLP Incm & Nrg Opp Fd | Cohen & Steers | 0.53 | 1.48 | 13.47 | 94.57 | 33.60 | 181 | 1,535 |
KMF | KA Midstream/Nrg Fd | Kayne Anderson | 0.62 | -13.53 | 9.33 | 94.81 | 33.33 | 527 | 2,170 |
EMO | CB Nrg Midstream Opp Fd | Legg Mason | 0.61 | -12.51 | 12.19 | 77.25 | 35.59 | 619 | 2,477 |
JMF | Nuv Nrg MLP Total Rtn Fd | Nuveen | 0.58 | -2.99 | 13.99 | 100.00 | 29.94 | 301 | 1,742 |
NML | NB MLP Incm Fd | Neuberger Berman | 0.61 | -10.70 | 10.41 | 92.51 | 25.80 | 402 | 1,820 |
FEN | FT Nrg Incm & Gwth Fd | First Trust | 0.63 | 4.20 | 11.39 | 78.23 | 27.11 | 391 | 1,877 |
FEI | FT MLP & Nrg Incm Fd | First Trust | 0.66 | -3.55 | 11.04 | 93.69 | 27.03 | 530 | 2,395 |
RQI | C&S Qlty Incm Rty Fd | Cohen & Steers | 2.55 | -0.41 | 6.52 | 0.00 | 21.70 | 1,613 | 5,523 |
AWP | Abd Glbl Prmr Prop Fd | Aberdeen | 2.88 | -9.33 | 7.37 | 62.14 | 8.31 | 613 | 2,180 |
IGR | CBRE Clr Glbl Rel-Est Incm Fd | CBRE Clarion | 2.80 | -8.54 | 7.47 | 68.97 | 12.84 | 1,024 | 2,296 |
BSTZ | BR Sci & Tech Tr II | BlackRock | 0.87 | -1.74 | 6.07 | 99.60 | 0.00 | 1,571 | 2,741 |
IGD | Voya Glbl Eq Div & Prm Opp | Voya | 0.93 | -11.63 | 7.89 | 58.36 | 0.00 | 668 | 3,669 |
AOD | Abd Tot Dyn Div Fd | Aberdeen | 0.95 | -10.98 | 8.03 | 17.23 | 5.95 | 1,017 | 2,320 |
BGY | BR Enh Intl DivTr | BlackRock | 0.96 | -8.93 | 7.10 | 58.71 | 0.00 | 664 | 1,552 |
GLQ | Clough Glbl Eq Fd | Clough | 0.96 | -9.08 | 10.56 | 0.00 | 34.27 | 173 | 688 |
HIE | Miller/Howard Hi Incm Eq Fd | Miller/Howard | 0.94 | 7.13 | 12.52 | 67.35 | 33.95 | 183 | 1,133 |
IDE | Voya Infra Ind & Matrls Fd | Voya | 0.90 | -13.53 | 8.19 | 19.90 | 0.00 | 249 | 928 |
HGLB | Highland Glbl Alloc Fd | Highland Capital | 0.79 | -25.19 | 14.62 | 23.63 | 38.94 | 271 | 830 |
INF | Brkf Glbl Lstd Infra Incm Fd | Brookfield | 0.89 | -8.34 | 7.37 | 58.32 | 25.75 | 196 | 804 |
HQH | Tekla Health Invstr | Tekla | 3.08 | -10.97 | 7.89 | 73.10 | 0.00 | 988 | 3,557 |
THQ | Tekla Health Opp Fd | Tekla | 2.92 | -9.34 | 7.28 | 74.13 | 22.40 | 848 | 1,919 |
THW | Tekla Wld Health Fd | Tekla | 2.80 | -6.55 | 10.33 | 91.67 | 22.75 | 439 | 1,411 |
GDV | Gabelli Div & Incm Tr | Gabelli | 2.67 | -10.88 | 6.32 | 31.04 | 21.00 | 1,932 | 5,354 |
EVT | EV Tx-Adv Div Incm Fd | Eaton Vance | 2.78 | -0.32 | 7.00 | 0.00 | 20.30 | 1,819 | 2,682 |
ETG | EV Tx-Adv Glbl Div Incm Fd | Eaton Vance | 2.95 | -1.51 | 6.97 | 22.61 | 24.60 | 1,367 | 2,401 |
GGN | GAMCO Glbl Gd NtrRes Incm | Gabelli | 2.75 | 2.87 | 13.95 | 90.98 | 12.00 | 584 | 3,513 |
BCX | BR Res & Com Stgy Tr | BlackRock | 2.83 | -11.33 | 8.07 | 60.35 | 0.00 | 789 | 1,743 |
BGR | BR Nrg & Res Tr | BlackRock | 2.70 | -8.83 | 8.50 | 60.54 | 0.00 | 358 | 1,416 |
CSQ | Calamos Stgc Tot Rtn Fd | Calamos | 1.43 | 0.15 | 7.48 | 51.26 | 31.26 | 2,046 | 3,128 |
NIE | AG Eq & Convt Incm Fd | Allianz | 1.41 | -7.18 | 6.76 | 0.00 | 0.00 | 672 | 1,554 |
CHW | Calamos Glbl Dyn Incm Fd | Calamos | 1.53 | 7.08 | 9.74 | 58.58 | 36.95 | 477 | 1,637 |
GLO | Clough Glbl Opp Fd | Clough | 1.42 | -12.06 | 10.96 | 40.98 | 38.29 | 342 | 1,184 |
ZTR | Virtus Glbl Div & Inc Fd | Virtus | 2.78 | 7.17 | 12.26 | 65.49 | 27.72 | 487 | 988 |
FOF | C&S CE Opp Fd | Cohen & Steers | 1.37 | -1.58 | 7.96 | 51.96 | 0.00 | 363 | 783 |
CLM | Cornerstone Stgc Val Fd | Cornerstone | 1.40 | 5.33 | 19.75 | 85.51 | 0.00 | 798 | 4,563 |
USA | Liberty All-Star Eq Fd | ALPS | 1.39 | -1.05 | 10.35 | 0.00 | 0.00 | 1,359 | 4,024 |
RVT | Royce Val Tr | Legg Mason | 1.43 | -10.14 | 7.15 | 0.46 | 4.33 | 1,537 | 3,461 |
CRF | Cornerstone Tot Rtn Fd | Cornerstone | 1.40 | 5.69 | 19.68 | 82.42 | 0.00 | 409 | 3,035 |
BIF | Boulder Gwth & Incm Fd | Boulder | 1.41 | -14.48 | 3.54 | 19.85 | 0.00 | 1,395 | 1,374 |
UTG | Reaves Util Incm Fd | W.H. Reaves | 1.67 | 4.24 | 5.82 | 0.00 | 19.77 | 1,734 | 4,870 |
UTF | C&S Infra Fd | Cohen & Steers | 1.58 | -0.57 | 7.12 | 0.20 | 26.80 | 2,240 | 5,261 |
DNP | DNP Sel Incm Fd | Duff & Phelps | 1.63 | 25.10 | 6.14 | 29.49 | 23.76 | 3,018 | 4,712 |
DPG | D&P Util & Infra Fd | Duff & Phelps | 1.54 | -3.98 | 9.35 | 30.57 | 29.02 | 591 | 1,401 |
GUT | Gabelli Util Tr | Gabelli | 1.73 | 58.28 | 7.75 | 90.57 | 27.00 | 264 | 1,021 |
IAE | Voya AP Hi Div Eq Incm Fd | Voya | 3.20 | -11.99 | 10.55 | 67.19 | 0.00 | 110 | 260 |
IHD | Voya Emrg Mkt Hi Div Eq Fd | Voya | 3.54 | -8.89 | 9.76 | 66.15 | 0.00 | 154 | 426 |
FDEU | FT Dyn Euro Eq Incm Fd | First Trust | 3.59 | -4.86 | 9.89 | 6.92 | 26.01 | 266 | 948 |
CUBA | Herzfeld Caribbean Basin Fd | Herzfeld Cuba | 3.40 | -14.12 | 17.17 | 0.00 | 0.00 | 47 | 89 |
BTO | JH Fin Opp Fd | John Hancock | 3.52 | -1.36 | 6.34 | 16.13 | 16.40 | 657 | 1,744 |