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02. US Equity Index

Data as of

About the Index

(1) US-Equity, Non-US Equity or Specialty Equity fund grouping according to CEFData.com with 90-day average trade dollar $ over $500K. (2) US equity exposure over 80%, (3) international equity exposure under 20%, (4) US bond exposure under 15% (5) non-US bond exposure under 5% according to CEFdata.com. (6) Remove any funds in the master limited partnership (MLP), Finance, Energy, Real Estate Investment Trust (REIT) or Utility sector grouping according to CEFdata.com. (7) Remove any Fund of Funds like: FOF and RIV or with Preferred exposure over 10% and Industrials / Materials are over 50%. The remaining funds are equally weighted into the index. 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 1,343.77 -1.79 -0.82 -4.34 2.14 2.66 -1.86 10.52 8.66 -4.12 -2.26 16.62
NAV 1,267.01 -2.13 -1.29 -4.88 1.05 1.19 -1.26 8.86 7.13 -4.38 -3.05 12.10
Difference -0.34 -0.47 -0.54 -1.09 -1.47 0.60 -1.66 -1.52 -0.26 -0.78 -4.52
* 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 10.90 3.19 0.89 15.46 2.73 -6.05 7.16 3.43 18.88 1.94 - - - - - - - - 20.74
NAV 7.80 2.85 1.26 12.26 2.77 -5.83 6.32 2.89 15.15 1.40 - - - - - - - - 16.48
Difference -3.10 -0.34 0.36 -3.20 0.04 0.22 -0.84 -0.54 -3.74 -0.54 - - - - - - - - -4.26
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 3.57 -2.42 -1.58 -0.53 2.24 2.85 -0.25 4.88 4.35 2.80 2.91 -0.09 5.69 -10.28 2.43 -9.69 -17.01 -11.32 -6.96
NAV 4.56 -3.19 -2.02 -0.82 0.48 2.51 0.07 3.06 2.24 3.61 2.82 0.41 6.97 -7.05 0.91 -7.89 -13.61 -6.64 -4.40
Difference 0.99 -0.77 -0.44 -0.29 -1.76 -0.34 0.32 -1.82 -2.11 0.81 -0.08 0.50 1.28 3.23 -1.52 1.80 3.40 4.67 2.56
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 3.42 2.95 0.91 7.44 3.39 1.59 -0.15 4.87 12.31 2.19 -0.45 3.08 4.86 2.76 0.73 2.88 6.49 11.35 23.66
NAV 2.30 2.73 0.22 5.33 1.52 1.36 0.38 3.30 8.62 2.11 0.76 1.84 4.77 2.25 1.84 0.91 5.08 9.86 18.48
Difference -1.12 -0.22 -0.69 -2.12 -1.87 -0.22 0.53 -1.57 -3.69 -0.08 1.21 -1.24 -0.08 -0.51 1.11 -1.97 -1.41 -1.49 -5.18
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -8.41 0.37 7.20 -1.44 1.55 1.89 0.01 3.48 2.04 5.10 0.37 -0.78 4.66 -2.38 2.00 1.84 1.40 6.06 8.10
NAV -6.04 -0.44 5.91 -0.93 0.50 1.84 -0.33 2.02 1.08 3.92 0.07 0.43 4.45 -1.52 1.88 1.64 1.98 6.42 7.51
Difference 2.36 -0.81 -1.30 0.51 -1.05 -0.05 -0.34 -1.46 -0.95 -1.18 -0.30 1.21 -0.21 0.87 -0.13 -0.20 0.57 0.36 -0.59
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price -0.70 5.52 -0.72 4.02 0.44 1.50 -1.96 -0.05 3.97 0.26 -5.90 -4.82 -10.21 9.38 0.20 -0.17 9.41 -0.80 3.18
NAV -1.85 4.76 -0.64 2.16 0.65 1.59 -1.62 0.60 2.75 1.37 -5.63 -3.33 -7.53 7.06 -0.08 -1.22 5.67 -1.86 0.89
Difference -1.15 -0.77 0.08 -1.87 0.22 0.09 0.34 0.65 -1.22 1.11 0.27 1.49 2.68 -2.32 -0.28 -1.05 -3.74 -1.06 -2.28

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-1.23%
1Yr Disc
-2.58%
3Yr Disc
-2.73%
5Yr Disc
-3.98%
Rel Disc Range (3yr)
61.26%
Mkt Yield
9.10%
Lev Adj NAV Yield
8.92%
After Tax Yield*
8.25%
Est Tax Friction*
0.85%
3Yr NAV Volatiliy
13.67
1 Yr RoC
43.69%
3 Yr Dest RoC
11.72%
Leverage
2.38%
Non Lev Exp Ratio
1.06%
Beta (2yr)
0.93
Equity Exposure
97.15%
Bond Exposure
0.46%
# Holdings
27
Cash Weighted Duration
Comp NAV TR
0.72%
Comp Discount
3.80%
Net Assets (M)
739
Liquidity - 90d (K)
1,859
* 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


27 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
ADX Adams Divr Eq Fd Adams Express 3.70 -12.72 6.16 0.00 0.00 1,828 2,250
ASG Liberty All-Star Gwth Fd ALPS 3.76 -1.20 8.32 0.00 0.00 217 1,026
BIF Boulder Gwth & Incm Fd Boulder 3.60 -16.82 3.86 30.75 0.00 1,318 1,349
BME BR Health Sci Tr BlackRock 3.68 0.99 6.38 0.00 0.00 393 1,160
BXMX Nuv S&P 500 By-Wrt Inc Fd Nuveen 3.72 -1.23 7.24 62.95 0.00 1,348 2,020
CET Cntrl Sec Corp Central Securities 3.70 -17.87 4.69 0.00 0.00 925 665
CII BR Enh Cap & Incm Fd BlackRock 3.67 -5.76 6.53 39.23 0.00 712 1,743
CLM Cornerstone Stgc Val Fd Cornerstone 3.77 9.12 21.67 88.66 0.00 771 4,787
CRF Cornerstone Tot Rtn Fd Cornerstone 3.76 9.30 21.56 85.67 0.00 396 3,123
DIAX Nuv Dow 30SM Dyn Owrt Fd Nuveen 3.74 -2.12 6.91 67.21 0.00 633 1,310
EOI EV Enh Eq Incm Fd Eaton Vance 3.76 0.89 7.29 51.11 0.00 575 1,333
EOS EV Enh Eq Incm Fd II Eaton Vance 3.65 0.93 7.30 20.38 0.00 769 1,940
ETB EV Tx-Mgd By-Wrt Incm Fd Eaton Vance 3.79 8.82 8.34 80.46 0.00 379 828
ETJ EV Risk-Mgd Divr Eq Incm Fd Eaton Vance 3.76 2.21 9.86 75.28 0.00 576 1,807
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 3.73 7.48 9.07 72.00 0.00 1,061 3,203
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 3.71 1.39 8.68 72.77 0.00 1,721 3,358
FFA FT Enh Eq Incm Fd First Trust 3.63 -0.97 7.45 35.98 0.00 309 602
GPM Gghm Enh Eq Incm Fd Guggenheim Funds 3.59 3.77 12.47 66.97 31.07 358 929
HIE Miller/Howard Hi Incm Eq Fd Miller/Howard 3.63 5.41 13.23 69.40 31.79 167 762
HQH Tekla Health Invstr Tekla 3.59 -10.45 9.46 46.74 0.00 900 2,498
HQL Tekla Life Sci Invstr Tekla 3.57 -8.85 9.33 22.05 0.00 396 1,150
JCE Nuv Core Eq Alpha Fd Nuveen 3.79 -3.16 7.25 42.37 0.00 228 774
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 3.75 -1.00 7.16 52.97 0.00 865 2,293
RVT Royce Val Tr Legg Mason 3.58 -11.40 8.52 0.00 3.12 1,409 3,220
SPXX Nuv S&P 500 Dyn Owrt Fd Nuveen 3.98 6.96 6.50 80.86 0.00 256 612
STK ClmbSlgmn Prm Tech Gwth Fd Columbia Mngmt 3.85 3.25 9.09 0.00 0.00 308 1,220
USA Liberty All-Star Eq Fd ALPS 3.58 -2.73 11.22 8.53 0.00 1,251 4,391

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, 2017. 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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Class E Units       8% PIK             8.00 %   11/6/2021     4,055,099       4,055,099       4,055,099       2.32 %