About the Index
Multisector Bond grouping according to CEFData.com. 90-day average trade dollar $ liquidity over $500K. Equal weight each fund for the index. The index constituents will be rebalanced each quarter.
Index Performance
Current($) | Previous Day(%) | 1 Week(%) | 1 Month(%) | 3 Month(%) | 6 Month(%) | 1 Year(%) | 3 Year(%) | 5 Year(%) | 10 Year(%) | MTD(%) | QTD(%) | YTD(%) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Price | 1,284.34 | 0.50 | 3.23 | 1.00 | -1.89 | -0.48 | -2.32 | 2.72 | 1.72 | 4.81 | 1.97 | 2.64 | 5.57 | ||||||
NAV | 1,265.74 | 0.06 | 1.75 | -0.56 | 0.38 | 0.93 | -4.05 | 3.02 | 1.89 | 4.57 | 0.74 | 0.96 | 2.95 | ||||||
Difference | -0.44 | -1.49 | -1.55 | 2.27 | 1.41 | -1.73 | 0.29 | 0.17 | -0.24 | -1.22 | -1.67 | -2.61 | |||||||
* Periods greater than 1 Year are annualized. ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00 |
2023 - Monthly Performance (%) | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2023 | |
Price | 9.76 | -1.87 | -4.51 | 2.86 | 1.58 | -0.91 | - | - | - | - | - | - | - | - | - | - | - | - | - |
NAV | 4.59 | -1.76 | -0.77 | 1.97 | 1.07 | -0.84 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Difference | -5.17 | 0.11 | 3.74 | -0.89 | -0.51 | 0.07 | - | - | - | - | - | - | - | - | - | - | - | - | - |
2022 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2022 | |
Price | -3.81 | -2.77 | -0.03 | -6.50 | -4.01 | -0.86 | -5.38 | -9.95 | -15.80 | 6.08 | -1.09 | -10.26 | -5.84 | 3.43 | 5.95 | -4.96 | 4.15 | -1.93 | -17.43 |
NAV | -2.01 | -1.43 | -0.93 | -4.31 | -3.22 | -1.06 | -5.86 | -9.85 | -13.74 | 3.78 | -1.04 | -5.51 | -2.96 | -0.19 | 3.30 | -0.74 | 2.35 | -0.68 | -14.33 |
Difference | 1.80 | 1.33 | -0.90 | 2.19 | 0.79 | -0.20 | -0.48 | 0.10 | 2.07 | -2.30 | 0.04 | 4.75 | 2.88 | -3.63 | -2.64 | 4.22 | -1.81 | 1.24 | 3.10 |
2021 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2021 | |
Price | 0.92 | 2.37 | 2.78 | 6.18 | 2.34 | 1.75 | 1.53 | 5.73 | 12.26 | -0.27 | 1.05 | -3.32 | -2.57 | 0.97 | -2.35 | 0.72 | -0.69 | -3.24 | 8.62 |
NAV | 0.62 | 0.66 | 0.16 | 1.44 | 1.44 | 1.04 | 1.24 | 3.77 | 5.26 | 0.65 | 0.84 | -0.36 | 1.14 | -0.39 | -0.99 | 1.50 | 0.10 | 1.24 | 6.57 |
Difference | -0.30 | -1.71 | -2.62 | -4.74 | -0.90 | -0.71 | -0.29 | -1.96 | -7.00 | 0.93 | -0.21 | 2.95 | 3.70 | -1.36 | 1.36 | 0.77 | 0.80 | 4.48 | -2.05 |
2020 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2020 | |
Price | 2.74 | -6.46 | -19.52 | -22.65 | 6.75 | 5.02 | 1.69 | 14.00 | -11.82 | 3.59 | 1.83 | -0.04 | 5.45 | -1.18 | 8.31 | 2.03 | 9.21 | 15.16 | 1.55 |
NAV | 1.67 | -0.74 | -18.95 | -18.20 | 4.18 | 4.55 | 3.23 | 12.44 | -8.03 | 3.39 | 2.11 | -0.09 | 5.47 | 0.50 | 5.32 | 2.22 | 8.20 | 14.12 | 4.96 |
Difference | -1.07 | 5.71 | 0.57 | 4.45 | -2.57 | -0.47 | 1.54 | -1.56 | 3.79 | -0.20 | 0.28 | -0.06 | 0.03 | 1.68 | -2.99 | 0.19 | -1.01 | -1.03 | 3.42 |
2019 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2019 | |
Price | 9.08 | 2.70 | 1.34 | 13.52 | 0.35 | -0.21 | 2.95 | 3.10 | 17.04 | 1.68 | -1.34 | 1.18 | 1.51 | 1.50 | 0.66 | 0.11 | 2.29 | 3.84 | 21.53 |
NAV | 3.80 | 1.61 | 1.09 | 6.62 | 1.75 | 0.13 | 2.33 | 4.25 | 11.16 | 0.62 | -0.61 | 0.69 | 0.70 | 0.28 | 0.42 | 1.43 | 2.13 | 2.85 | 14.32 |
Difference | -5.28 | -1.09 | -0.25 | -6.90 | 1.40 | 0.33 | -0.62 | 1.16 | -5.88 | -1.06 | 0.73 | -0.49 | -0.81 | -1.23 | -0.24 | 1.31 | -0.16 | -0.99 | -7.21 |
2018 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2018 | |
Price | -1.46 | -0.81 | 0.92 | -1.36 | 1.17 | 1.98 | 0.51 | 3.71 | 2.30 | 2.36 | 0.76 | -0.62 | 2.50 | -5.24 | -0.13 | -3.91 | -9.06 | -6.79 | -4.65 |
NAV | 0.96 | -1.27 | -0.20 | -0.53 | 0.37 | 0.30 | -0.07 | 0.60 | 0.07 | 1.45 | 0.15 | 0.63 | 2.24 | -1.77 | -0.71 | -1.98 | -4.40 | -2.26 | -2.19 |
Difference | 2.41 | -0.46 | -1.12 | 0.83 | -0.80 | -1.68 | -0.58 | -3.11 | -2.23 | -0.91 | -0.61 | 1.25 | -0.26 | 3.48 | -0.58 | 1.92 | 4.66 | 4.54 | 2.46 |
2017 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2017 | |
Price | 4.33 | 2.05 | 0.38 | 6.88 | 3.44 | 2.11 | 0.81 | 6.47 | 13.79 | 1.76 | -0.35 | 1.30 | 2.73 | -0.49 | -1.60 | 0.71 | -1.39 | 1.30 | 15.27 |
NAV | 1.80 | 1.83 | 0.76 | 4.45 | 1.87 | 1.76 | 0.95 | 4.65 | 9.30 | 1.67 | 1.14 | 0.67 | 3.52 | 0.95 | -0.04 | 0.49 | 1.40 | 4.97 | 14.73 |
Difference | -2.53 | -0.22 | 0.38 | -2.43 | -1.57 | -0.35 | 0.14 | -1.82 | -4.49 | -0.09 | 1.49 | -0.63 | 0.79 | 1.44 | 1.56 | -0.21 | 2.79 | 3.67 | -0.54 |
2016 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2016 | |
Price | -1.94 | 0.25 | 6.30 | 4.50 | 3.86 | 0.91 | 3.53 | 8.50 | 13.39 | 4.20 | 1.46 | -0.46 | 5.23 | -2.09 | -2.22 | 2.73 | -1.65 | 3.50 | 17.35 |
NAV | -1.64 | -1.08 | 4.00 | 1.18 | 3.17 | 0.75 | 1.67 | 5.68 | 6.93 | 3.36 | 1.51 | 0.97 | 5.94 | 0.75 | -0.90 | 1.53 | 1.38 | 7.40 | 14.84 |
Difference | 0.30 | -1.33 | -2.31 | -3.32 | -0.69 | -0.16 | -1.86 | -2.83 | -6.46 | -0.84 | 0.05 | 1.43 | 0.70 | 2.84 | 1.32 | -1.20 | 3.03 | 3.90 | -2.52 |
2015 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2015 | |
Price | 3.59 | 2.37 | 0.22 | 6.28 | 2.09 | -1.29 | -4.43 | -3.69 | 2.36 | -0.76 | -1.65 | -0.87 | -3.25 | 4.63 | -1.76 | -0.10 | 2.69 | -0.64 | 1.70 |
NAV | 1.65 | 2.13 | 0.31 | 4.14 | 1.45 | 0.56 | -1.06 | 0.94 | 5.12 | 0.19 | -1.78 | -1.48 | -3.06 | 1.59 | -0.94 | -2.33 | -1.71 | -4.71 | 0.17 |
Difference | -1.94 | -0.23 | 0.09 | -2.14 | -0.64 | 1.85 | 3.37 | 4.63 | 2.76 | 0.95 | -0.13 | -0.61 | 0.19 | -3.04 | 0.82 | -2.23 | -4.40 | -4.07 | -1.53 |
2014 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2014 | |
Price | 2.45 | 2.56 | 0.06 | 5.13 | 2.52 | 2.06 | 1.38 | 6.07 | 11.51 | -2.73 | 2.35 | -2.59 | -3.03 | 1.39 | 0.03 | -4.08 | -2.72 | -5.66 | 5.20 |
NAV | 2.36 | 2.02 | 0.57 | 5.03 | 1.13 | 2.02 | 0.85 | 4.06 | 9.30 | -0.11 | 1.16 | -1.33 | -0.29 | 0.51 | 0.17 | -2.84 | -2.17 | -2.46 | 6.61 |
Difference | -0.08 | -0.53 | 0.51 | -0.10 | -1.38 | -0.04 | -0.53 | -2.01 | -2.21 | 2.62 | -1.19 | 1.26 | 2.73 | -0.87 | 0.14 | 1.24 | 0.55 | 3.20 | 1.41 |
2013 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2013 | |
Price | 6.76 | 1.36 | 0.88 | 9.16 | 1.60 | -4.27 | -2.74 | -5.40 | 3.26 | -2.23 | -1.44 | 3.27 | -0.49 | 2.87 | -2.47 | 1.11 | 1.45 | 0.95 | 4.24 |
NAV | 3.95 | 0.65 | 0.91 | 5.57 | 2.65 | -0.30 | -3.85 | -1.60 | 3.88 | 1.11 | -0.73 | 1.62 | 1.99 | 2.79 | 0.37 | -0.47 | 2.68 | 4.73 | 8.79 |
Difference | -2.81 | -0.71 | 0.03 | -3.59 | 1.05 | 3.96 | -1.11 | 3.80 | 0.62 | 3.34 | 0.71 | -1.65 | 2.48 | -0.08 | 2.84 | -1.58 | 1.23 | 3.78 | 4.55 |
2012 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2012 | |
Price | 4.40 | 3.08 | -1.37 | 6.14 | 1.67 | -1.17 | 2.28 | 2.78 | 9.09 | 3.99 | 1.99 | 2.99 | 9.23 | -0.20 | -1.58 | -0.38 | -2.16 | 6.87 | 16.58 |
NAV | 4.12 | 3.39 | 0.65 | 8.35 | 1.15 | -1.61 | 2.10 | 1.61 | 10.10 | 3.16 | 2.67 | 3.36 | 9.46 | 1.26 | 0.94 | 0.72 | 2.94 | 12.69 | 24.06 |
Difference | -0.27 | 0.30 | 2.02 | 2.21 | -0.52 | -0.45 | -0.18 | -1.17 | 1.01 | -0.83 | 0.68 | 0.37 | 0.24 | 1.46 | 2.52 | 1.10 | 5.10 | 5.82 | 7.48 |
Performance Chart
Discount
Characteristics
PORTFOLIO Weighted Average Data |
||||
---|---|---|---|---|
Discount -2.62% |
1Yr Disc -2.55% |
3Yr Disc -0.48% |
5Yr Disc 0.28% |
Rel Disc Range (3yr) 43.85% |
Mkt Yield 10.94% |
Lev Adj NAV Yield 8.37% |
After Tax Yield* 8.77% |
Est Tax Friction* 2.17% |
3Yr NAV Volatiliy 6.67 |
1 Yr RoC 30.64% |
3 Yr Dest RoC 20.24% |
Leverage 28.50% |
Non Lev Exp Ratio 1.46% |
Beta (2yr) 0.70 |
Equity Exposure 8.78% |
Bond Exposure 88.38% |
# Holdings 19 |
Cash Weighted Duration 4.35 |
|
Comp NAV TR -0.26% |
Comp Discount 0.72% |
Net Assets (M) 931 |
Liquidity - 90d (K) 3,239 |
|
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%. |
Asset Allocation
Constituents
19 Funds
Ticker | Name | Sponsor | Allocation | Discount | Market Yield | RoC(1yr) | Leverage | Net Assets | Liquidity (90d) |
---|---|---|---|---|---|---|---|---|---|
AWF | AB Glbl Hi Incm Fd | AllianceBernstein | 5.28 | -5.73 | 7.96 | 0.00 | 23.80 | 904 | 2,072 |
BHK | BR Core Bnd Tr | BlackRock | 5.02 | -4.21 | 8.55 | 17.02 | 34.30 | 590 | 1,695 |
BIT | BR Mlt-Sctr Incm Tr | BlackRock | 5.20 | 0.21 | 10.22 | 35.52 | 32.55 | 547 | 1,358 |
BTZ | BR Cr Alloc Incm Tr | BlackRock | 5.21 | -8.30 | 9.79 | 29.96 | 35.37 | 1,048 | 2,680 |
DBL | DbLin Opportunistic Cr Fd | Doubleline | 5.54 | 4.79 | 8.75 | 46.62 | 17.43 | 237 | 642 |
DSL | DbLin Incm Solutions Fd | Doubleline | 5.36 | -0.17 | 11.32 | 4.95 | 22.69 | 1,194 | 3,983 |
FINS | Angel Oak Fin Stgs Incm Trm Tr | Angel Oak | 4.98 | -14.33 | 9.68 | 40.28 | 29.31 | 345 | 936 |
GOF | Gghm Stgc Opp Fd | Guggenheim Funds | 5.17 | 28.44 | 13.71 | 46.78 | 23.26 | 1,475 | 7,213 |
HFRO | Highland Incm Fd | Highland Capital | 5.40 | -32.44 | 10.15 | 25.13 | 15.10 | 918 | 2,256 |
NPCT | Nuv Core Plus Impact Fd | Nuveen | 5.15 | -15.30 | 9.94 | 45.58 | 39.00 | 340 | 857 |
PAXS | PIMCO Access Incm Fd | PIMCO | 5.16 | -4.42 | 12.36 | 0.00 | 44.74 | 667 | 2,345 |
PDI | PIMCO Dyn Incm Fd | PIMCO | 5.40 | 4.81 | 14.45 | 0.00 | 41.69 | 4,500 | 20,245 |
PDO | PIMCO Dyn Incm Opp Fd | PIMCO | 5.53 | 0.54 | 11.82 | 0.00 | 47.09 | 1,429 | 5,552 |
PFL | PIMCO Incm Stgy Fd | PIMCO | 5.28 | 3.84 | 12.03 | 7.14 | 28.21 | 297 | 760 |
PFN | PIMCO Incm Stgy Fd II | PIMCO | 5.31 | 4.50 | 11.97 | 12.62 | 25.82 | 578 | 1,337 |
PHK | PIMCO Hi Incm Fd | PIMCO | 5.22 | 3.52 | 12.23 | 0.00 | 22.26 | 665 | 1,696 |
RA | Brkf Real Ast Incm Fd | Brookfield | 5.33 | 11.05 | 14.32 | 56.90 | 26.66 | 839 | 3,785 |
TSI | TCW Stgc Incm Fd | TCW | 5.22 | -7.11 | 5.11 | 0.00 | 0.00 | 242 | 504 |
WDI | WA Divr Incm Fd | Franklin Templeton | 5.24 | -11.88 | 12.27 | 0.00 | 32.62 | 776 | 1,516 |