About the Index
Senior Loan grouping according to CEFdata.com. 90-day average trade dollar $ liquidity over $500K. Exposure to 80% or more Loans / Sr. Loans according to CEFdata.com. Equal weight each fund for the index. The index constituents will be rebalanced each quarter.
Index Performance
Current($) | Previous Day(%) | 1 Week(%) | 1 Month(%) | 3 Month(%) | 6 Month(%) | 1 Year(%) | 3 Year(%) | 5 Year(%) | 10 Year(%) | MTD(%) | QTD(%) | YTD(%) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Price | 1,450.23 | 0.17 | -0.26 | 2.90 | 8.30 | 13.37 | 26.91 | 6.77 | 7.23 | 5.27 | 1.24 | 7.01 | 7.01 | ||||||
NAV | 1,364.10 | 0.06 | 0.08 | 1.18 | 2.97 | 6.32 | 14.72 | 4.89 | 4.54 | 4.31 | 0.39 | 2.38 | 2.38 | ||||||
Difference | -0.11 | 0.35 | -1.72 | -5.33 | -7.05 | -12.20 | -1.89 | -2.69 | -0.96 | -0.85 | -4.63 | -4.63 | |||||||
* 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 | 3.15 | 2.47 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
NAV | 0.96 | 1.01 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Difference | -2.19 | -1.46 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
2023 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2023 | |
Price | 6.78 | 0.92 | -3.36 | 4.15 | 1.07 | -1.81 | 4.77 | 3.98 | 8.29 | 2.76 | 1.63 | 1.15 | 5.63 | -2.74 | 3.75 | 4.36 | 5.31 | 11.24 | 20.46 |
NAV | 3.64 | 0.28 | -0.25 | 3.66 | 0.93 | -0.83 | 2.97 | 3.07 | 6.84 | 1.43 | 1.37 | 0.72 | 3.56 | -0.57 | 1.90 | 2.04 | 3.39 | 7.07 | 14.40 |
Difference | -3.14 | -0.65 | 3.11 | -0.49 | -0.14 | 0.97 | -1.80 | -0.91 | -1.45 | -1.33 | -0.26 | -0.42 | -2.07 | 2.16 | -1.85 | -2.31 | -1.92 | -4.16 | -6.06 |
2022 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2022 | |
Price | -0.55 | -2.50 | -0.52 | -3.53 | -3.51 | -5.44 | -3.61 | -12.06 | -15.17 | 5.41 | -0.70 | -5.74 | -1.33 | 0.45 | 5.58 | -3.76 | 2.06 | 0.71 | -14.57 |
NAV | 0.34 | -0.75 | -0.01 | -0.42 | -0.50 | -4.05 | -4.35 | -8.69 | -9.07 | 3.35 | 1.56 | -4.19 | 0.56 | 1.08 | 1.64 | -0.02 | 2.72 | 3.29 | -6.07 |
Difference | 0.89 | 1.75 | 0.51 | 3.12 | 3.01 | 1.40 | -0.74 | 3.37 | 6.10 | -2.07 | 2.26 | 1.55 | 1.89 | 0.63 | -3.94 | 3.75 | 0.65 | 2.58 | 8.49 |
2021 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2021 | |
Price | 3.58 | 2.49 | 2.20 | 8.50 | 1.14 | 1.25 | 2.56 | 5.03 | 13.96 | -1.21 | 2.59 | 0.82 | 2.18 | 1.79 | 0.03 | 0.60 | 2.43 | 4.67 | 19.28 |
NAV | 2.08 | 0.90 | 0.09 | 3.09 | 0.77 | 0.78 | 0.74 | 2.31 | 5.47 | -0.18 | 1.11 | 0.83 | 1.77 | 0.26 | -0.54 | 0.77 | 0.49 | 2.27 | 7.86 |
Difference | -1.51 | -1.59 | -2.11 | -5.41 | -0.38 | -0.47 | -1.82 | -2.72 | -8.49 | 1.03 | -1.48 | 0.01 | -0.41 | -1.53 | -0.57 | 0.17 | -1.95 | -2.40 | -11.42 |
2020 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2020 | |
Price | 1.42 | -5.64 | -21.10 | -24.50 | 5.26 | 5.15 | 2.09 | 12.99 | -14.69 | 2.90 | 2.99 | 0.87 | 6.90 | -1.49 | 7.64 | 1.94 | 8.10 | 15.56 | -1.42 |
NAV | 0.81 | -2.31 | -18.67 | -19.90 | 5.23 | 4.90 | 1.65 | 12.21 | -10.12 | 2.73 | 2.14 | 0.53 | 5.49 | 0.02 | 3.81 | 2.03 | 5.94 | 11.76 | 0.45 |
Difference | -0.60 | 3.33 | 2.43 | 4.60 | -0.03 | -0.25 | -0.44 | -0.78 | 4.57 | -0.17 | -0.84 | -0.34 | -1.41 | 1.52 | -3.83 | 0.09 | -2.15 | -3.79 | 1.87 |
2019 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2019 | |
Price | 6.25 | 3.26 | -1.81 | 7.73 | 3.27 | -1.71 | 2.04 | 3.57 | 11.57 | 1.05 | -2.15 | 1.75 | 0.61 | -0.45 | 1.44 | 4.04 | 5.06 | 5.70 | 17.93 |
NAV | 3.95 | 2.10 | -0.45 | 5.66 | 2.17 | -0.82 | 0.20 | 1.53 | 7.28 | 0.99 | -0.50 | 0.57 | 1.06 | -0.96 | 0.75 | 2.30 | 2.08 | 3.16 | 10.67 |
Difference | -2.30 | -1.16 | 1.36 | -2.08 | -1.10 | 0.89 | -1.83 | -2.03 | -4.30 | -0.06 | 1.65 | -1.17 | 0.46 | -0.51 | -0.69 | -1.74 | -2.99 | -2.54 | -7.26 |
2018 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2018 | |
Price | 0.84 | 1.12 | 1.76 | 3.77 | 0.50 | -0.33 | -1.15 | -0.99 | 2.75 | 0.09 | 0.31 | 0.64 | 1.03 | -3.76 | -1.76 | -4.66 | -9.86 | -8.93 | -6.43 |
NAV | 1.62 | 0.12 | 0.22 | 1.97 | 0.58 | 0.21 | 0.02 | 0.80 | 2.79 | 1.06 | 0.47 | 0.92 | 2.48 | -0.52 | -1.53 | -4.38 | -6.33 | -4.01 | -1.34 |
Difference | 0.78 | -1.00 | -1.54 | -1.80 | 0.08 | 0.54 | 1.16 | 1.79 | 0.04 | 0.98 | 0.16 | 0.28 | 1.44 | 3.24 | 0.23 | 0.28 | 3.53 | 4.91 | 5.09 |
2017 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2017 | |
Price | 1.72 | 1.43 | -1.92 | 1.20 | 1.72 | -0.19 | -1.22 | 0.29 | 1.49 | 1.09 | -1.26 | 1.26 | 1.07 | -0.22 | -2.16 | 1.35 | -1.07 | -0.00 | 1.49 |
NAV | 0.68 | 0.97 | -0.11 | 1.55 | 0.55 | 0.45 | -0.10 | 0.91 | 2.47 | 1.07 | -0.28 | 0.49 | 1.28 | 0.70 | -0.03 | 0.32 | 1.00 | 2.29 | 4.82 |
Difference | -1.04 | -0.46 | 1.81 | 0.35 | -1.18 | 0.64 | 1.12 | 0.61 | 0.97 | -0.02 | 0.98 | -0.77 | 0.21 | 0.93 | 2.13 | -1.02 | 2.07 | 2.30 | 3.33 |
2016 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2016 | |
Price | -3.27 | -1.61 | 9.19 | 3.92 | 1.93 | 2.15 | 0.25 | 4.39 | 8.48 | 3.89 | 1.35 | 2.58 | 8.01 | 0.57 | 1.75 | 3.28 | 5.68 | 14.15 | 23.83 |
NAV | -1.31 | -1.07 | 4.64 | 2.16 | 2.93 | 1.39 | -0.06 | 4.30 | 6.55 | 2.34 | 1.11 | 1.26 | 4.78 | 1.15 | 0.29 | 1.46 | 2.93 | 7.85 | 14.91 |
Difference | 1.96 | 0.54 | -4.56 | -1.76 | 1.00 | -0.76 | -0.31 | -0.09 | -1.93 | -1.55 | -0.24 | -1.32 | -3.23 | 0.58 | -1.45 | -1.82 | -2.75 | -6.30 | -8.91 |
2015 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2015 | |
Price | 0.13 | 4.54 | 1.68 | 6.43 | 1.49 | -0.91 | -3.14 | -2.59 | 3.67 | 0.32 | -2.41 | -2.17 | -4.23 | 0.56 | -0.79 | -1.20 | -1.43 | -5.60 | -2.13 |
NAV | 0.50 | 2.03 | 0.50 | 3.05 | 1.13 | 0.27 | -0.80 | 0.59 | 3.66 | 0.19 | -1.15 | -1.44 | -2.38 | -0.15 | -1.64 | -2.06 | -3.81 | -6.10 | -2.66 |
Difference | 0.38 | -2.51 | -1.18 | -3.38 | -0.36 | 1.18 | 2.34 | 3.18 | -0.01 | -0.13 | 1.26 | 0.74 | 1.84 | -0.71 | -0.85 | -0.86 | -2.38 | -0.50 | -0.53 |
2014 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2014 | |
Price | 0.85 | 0.99 | -0.13 | 1.71 | -0.80 | 0.40 | 0.83 | 0.43 | 2.15 | -0.96 | -0.19 | -2.04 | -3.16 | -0.82 | 0.07 | -1.69 | -2.43 | -5.52 | -3.49 |
NAV | 0.98 | 0.44 | 0.32 | 1.75 | 0.08 | 0.65 | 0.70 | 1.43 | 3.21 | -0.08 | 0.30 | -1.04 | -0.81 | 0.27 | 0.46 | -1.75 | -1.03 | -1.83 | 1.32 |
Difference | 0.13 | -0.55 | 0.46 | 0.04 | 0.88 | 0.24 | -0.13 | 1.01 | 1.06 | 0.88 | 0.50 | 1.00 | 2.35 | 1.09 | 0.39 | -0.06 | 1.40 | 3.68 | 4.81 |
2013 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2013 | |
Price | 4.69 | 1.79 | 0.33 | 6.92 | 0.90 | -2.56 | -0.55 | -2.22 | 4.54 | -0.28 | -2.28 | -1.21 | -3.73 | 1.22 | -1.27 | 0.90 | 0.82 | -2.94 | 1.47 |
NAV | 2.03 | 0.41 | 1.13 | 3.61 | 0.99 | 0.25 | -0.89 | 0.35 | 3.97 | 1.56 | -0.14 | 0.41 | 1.84 | 1.21 | 0.67 | 0.56 | 2.47 | 4.35 | 8.49 |
Difference | -2.66 | -1.39 | 0.80 | -3.31 | 0.09 | 2.81 | -0.33 | 2.57 | -0.57 | 1.84 | 2.14 | 1.62 | 5.57 | -0.00 | 1.95 | -0.33 | 1.64 | 7.29 | 7.02 |
2012 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2012 | |
Price | 5.84 | 2.22 | 2.66 | 11.07 | 0.54 | -1.84 | 1.43 | 0.10 | 11.18 | 3.16 | 2.63 | 2.34 | 8.35 | 0.20 | -0.30 | 0.83 | 0.73 | 9.14 | 21.34 |
NAV | 2.31 | 1.48 | 1.01 | 4.87 | 1.07 | -1.10 | 0.99 | 0.95 | 5.86 | 1.41 | 1.37 | 1.56 | 4.41 | 0.73 | 0.38 | 0.75 | 1.87 | 6.37 | 12.60 |
Difference | -3.52 | -0.74 | -1.66 | -6.20 | 0.52 | 0.75 | -0.44 | 0.85 | -5.32 | -1.75 | -1.26 | -0.77 | -3.94 | 0.53 | 0.68 | -0.08 | 1.14 | -2.77 | -8.74 |
Performance Chart
Discount
Characteristics
PORTFOLIO Weighted Average Data |
||||
---|---|---|---|---|
Discount -2.76% |
1Yr Disc -8.74% |
3Yr Disc -7.12% |
5Yr Disc -8.56% |
Rel Disc Range (3yr) 64.72% |
Mkt Yield 11.10% |
Lev Adj NAV Yield 8.23% |
After Tax Yield* 8.43% |
Est Tax Friction* 2.67% |
3Yr NAV Volatiliy 4.16 |
1 Yr RoC 7.53% |
3 Yr Dest RoC 7.96% |
Leverage 31.76% |
Non Lev Exp Ratio 1.57% |
Beta (2yr) 0.10 |
Equity Exposure 1.48% |
Bond Exposure 97.26% |
# Holdings 13 |
Cash Weighted Duration 0.34 |
|
Comp NAV TR -1.64% |
Comp Discount 0.92% |
Net Assets (M) 437 |
Liquidity - 90d (K) 1,908 |
|
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%. |
Asset Allocation
Constituents
13 Funds
Ticker | Name | Sponsor | Allocation | Discount | Market Yield | RoC(1yr) | Leverage | Net Assets | Liquidity (90d) |
---|---|---|---|---|---|---|---|---|---|
AFT | Apollo Sr Flt Rt Fd | Apollo | 7.86 | -5.58 | 11.57 | 0.00 | 35.75 | 234 | 1,432 |
BGB | Blackstone Stgc Cr 2027 Trm Fd | Blackstone | 7.67 | -7.25 | 9.39 | 0.00 | 36.68 | 573 | 1,817 |
BGT | BR Flt Rt Incm Fd | BlackRock | 7.68 | 0.86 | 11.13 | 7.36 | 24.84 | 287 | 1,380 |
BSL | Blackstone Sr Flt Rt 2027 Trm Fd | Blackstone | 7.82 | -3.71 | 9.57 | 0.00 | 32.01 | 193 | 1,008 |
EFR | EV Sr Flt-Rt Tr | Eaton Vance | 7.59 | 0.46 | 11.08 | 0.00 | 33.50 | 381 | 1,162 |
EFT | EV Flt-Rt Incm Tr | Eaton Vance | 7.82 | 0.23 | 10.60 | 0.00 | 36.70 | 349 | 1,354 |
EVF | EV Sr Incm Tr | Eaton Vance | 7.44 | 2.09 | 11.53 | 0.00 | 37.88 | 98 | 588 |
FCT | FT Sr Flt Rt Incm Fd II | First Trust | 7.58 | -6.68 | 11.26 | 9.31 | 11.40 | 288 | 1,074 |
FRA | BR Flt Rt Incm Stgc Fd | BlackRock | 7.52 | -1.67 | 11.44 | 8.59 | 23.22 | 465 | 2,143 |
JFR | Nuv Flt Rt Incm Fd | Nuveen | 7.78 | -6.34 | 11.70 | 1.93 | 38.04 | 1,248 | 5,267 |
JQC | Nuv Cr Stgs Incm Fd | Nuveen | 7.85 | -5.57 | 11.59 | 3.69 | 38.10 | 803 | 3,902 |
PHD | Pioneer Flt Rt Fd | Amundi Asset Mgmt | 7.75 | -6.74 | 11.46 | 0.00 | 32.70 | 129 | 648 |
VVR | Invsc Sr Incm Tr | Invesco | 7.64 | 4.40 | 12.08 | 14.55 | 31.36 | 626 | 2,942 |