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08. US Bond Index

Data as of 04/13/2021 03/31/2021 02/26/2021 01/29/2021 12/31/2020 11/30/2020 10/30/2020 09/30/2020 08/31/2020 07/31/2020 06/30/2020 05/29/2020 04/30/2020 03/31/2020 02/28/2020 01/31/2020 12/31/2019 11/29/2019 10/31/2019 09/30/2019 08/30/2019 07/31/2019 06/28/2019 05/31/2019 04/30/2019 03/29/2019 02/28/2019 01/31/2019 12/31/2018 11/30/2018 10/31/2018 09/28/2018 08/31/2018 07/31/2018 06/29/2018 05/31/2018 04/30/2018 03/29/2018 02/28/2018 01/31/2018 12/29/2017 11/30/2017 10/31/2017 09/29/2017 08/31/2017 06/30/2017

• About
• Performance
• Discount
• Characteristics
• Asset Allocation
• Constituents
• Prices
• Disclosure

Index Performance

	Current($)	Previous Day(%)	1 Week(%)	1 Month(%)	3 Month(%)	6 Month(%)	1 Year(%)	3 Year(%)	5 Year(%)	MTD(%)	QTD(%)	YTD(%)
Price	1,398.92	0.15	0.74	2.46	6.98	16.69	35.56	8.26	10.12	1.40	1.40	7.70
NAV	1,325.85	0.00	0.04	1.00	2.38	9.92	27.48	6.24	8.45	0.79	0.79	2.95
Difference		-0.15	-0.70	-1.47	-4.60	-6.77	-8.07	-2.02	-1.66	-0.61	-0.61	-4.75
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2021 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	1.61	1.97	2.52	6.22	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NAV	1.16	0.80	0.18	2.15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Difference	-0.45	-1.17	-2.34	-4.07	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	1.51	-5.77	-19.87	-23.35	5.97	6.11	1.78	14.44	-12.29	3.40	1.96	-0.14	5.28	-0.88	8.52	2.54	10.31	16.13	1.86
NAV	0.86	-1.51	-17.75	-18.30	4.67	5.15	2.65	12.98	-7.70	3.62	2.07	-0.07	5.68	0.38	4.95	2.62	8.11	14.26	5.46
Difference	-0.65	4.25	2.13	5.05	-1.30	-0.97	0.88	-1.46	4.59	0.22	0.10	0.07	0.40	1.26	-3.57	0.08	-2.19	-1.88	3.60
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	7.17	2.74	0.49	10.65	2.46	-0.98	2.54	4.03	15.11	1.30	-0.95	1.79	2.13	0.74	0.81	2.68	4.28	6.50	22.59
NAV	4.07	1.63	0.67	6.47	1.70	-0.41	1.67	2.98	9.64	0.75	-0.22	0.41	0.94	-0.11	0.58	2.04	2.51	3.48	13.46
Difference	-3.10	-1.12	0.18	-4.18	-0.76	0.58	-0.87	-1.05	-5.47	-0.54	0.73	-1.38	-1.19	-0.85	-0.23	-0.64	-1.77	-3.02	-9.13
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	-0.45	-0.53	0.60	-0.38	0.79	0.38	-0.00	1.17	0.79	0.75	0.97	-0.00	1.72	-3.88	-1.16	-3.18	-8.01	-6.43	-5.69
NAV	1.04	-0.60	-0.11	0.32	0.42	0.15	0.09	0.67	0.99	1.15	0.36	0.62	2.14	-1.20	-1.15	-2.50	-4.78	-2.75	-1.78
Difference	1.49	-0.07	-0.71	0.70	-0.37	-0.23	0.10	-0.50	0.20	0.40	-0.61	0.62	0.41	2.68	0.00	0.68	3.23	3.68	3.91
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	3.30	1.82	-0.59	4.56	2.28	0.90	0.30	3.51	8.23	1.82	-0.55	1.15	2.43	-0.17	-1.75	1.42	-0.51	1.90	10.29
NAV	1.78	1.33	0.17	3.30	1.15	1.11	0.42	2.70	6.09	1.16	0.28	0.71	2.17	0.68	-0.06	0.48	1.10	3.29	9.59
Difference	-1.53	-0.50	0.76	-1.26	-1.13	0.21	0.12	-0.81	-2.14	-0.66	0.83	-0.44	-0.26	0.84	1.69	-0.95	1.61	1.39	-0.70
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-2.67	-0.57	7.57	4.10	3.01	1.40	1.62	6.14	10.49	3.98	2.18	0.22	6.48	-0.45	0.22	3.10	2.86	9.53	21.02
NAV	-1.71	-0.89	4.00	1.31	3.22	1.06	1.17	5.53	6.92	2.62	1.83	1.31	5.87	0.84	-0.17	1.79	2.48	8.50	16.01
Difference	0.97	-0.33	-3.56	-2.78	0.21	-0.34	-0.45	-0.61	-3.57	-1.36	-0.35	1.09	-0.61	1.29	-0.38	-1.31	-0.38	-1.03	-5.01
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	0.92	2.72	-0.43	3.22	1.51	-0.87	-3.47	-2.87	0.26	-1.02	-2.60	-1.92	-5.45	4.10	-1.94	-0.55	1.52	-4.01	-3.76
NAV	0.68	2.15	0.09	2.94	1.35	0.42	-0.99	0.77	3.73	-0.27	-1.54	-2.04	-3.81	1.44	-1.50	-2.48	-2.55	-6.26	-2.77
Difference	-0.24	-0.57	0.51	-0.28	-0.16	1.29	2.48	3.63	3.47	0.75	1.06	-0.12	1.64	-2.66	0.44	-1.93	-4.08	-2.26	0.98

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -0.92%	1Yr Disc -5.38%	3Yr Disc -4.47%	5Yr Disc -4.01%	Rel Disc Range (3yr) 83.42%
Mkt Yield 6.98%	Lev Adj NAV Yield 5.42%	After Tax Yield* 5.29%	Est Tax Friction* 1.69%	3Yr NAV Volatiliy 9.34
1 Yr RoC 7.68%	3 Yr Dest RoC 0.83%	Leverage 27.76%	Non Lev Exp Ratio 1.49%	Beta (2yr) 0.49
Equity Exposure 1.22%	Bond Exposure 96.21%	# Holdings 70	Cash Weighted Duration 3.71
Comp NAV TR -0.28%	Comp Discount 0.53%	Net Assets (M) 491	Liquidity - 90d (K) 1,980
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

70 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
AFT	Apollo Sr Flt Rt Fd	Apollo	1.45	-8.24	6.30	0.00	32.08	259	992
AIF	Apollo Tactical Incm Fd	Apollo	1.45	-8.45	6.13	0.00	31.54	241	641
ARDC	Ares Dyn Cr Alloc Fd	Ares	1.42	-7.49	7.70	0.00	30.12	376	1,455
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	1.42	-6.93	6.57	0.00	40.87	1,108	2,216
BGB	Blackstone Stgc Cr Fd	Blackstone	1.41	-8.62	6.38	0.00	36.09	653	1,702
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	1.44	-6.88	7.74	0.00	30.62	353	1,053
BGIO	2022 Glbl Incm Opp Tr	BlackRock	1.44	1.52	6.40	15.18	7.97	205	470
BGX	Blackstone Lng-Srt Cr Incm Fd	Blackstone	1.43	-7.07	6.79	0.00	38.08	196	760
BHK	BR Core Bnd Tr	BlackRock	1.41	-1.38	5.71	0.14	32.23	857	2,337
BLW	BR Ltd Dur Incm Tr	BlackRock	1.43	-0.94	6.95	18.28	32.91	610	1,625
BSL	Blackstone Sr Flt Rt Trm Fd	Blackstone	1.45	-2.32	5.48	0.00	32.98	222	1,051
BTZ	BR Cr Alloc Incm Tr	BlackRock	1.41	-4.68	6.86	19.10	29.41	1,439	3,134
BWG	BwGlobal Glbl Incm Opp Fd	Franklin Templeton	1.44	-11.21	7.87	0.00	33.10	231	717
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	1.43	-2.01	7.89	0.00	25.64	183	4,102
DBL	DbLin Opportunistic Cr Fd	Doubleline	1.42	1.43	6.64	0.00	18.74	293	862
DCF	BYN A Glbl Cr Incm 2024 Tgt Trm	BNY Mellon	1.42	1.07	6.37	0.00	29.02	139	381
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	1.43	-5.76	8.30	0.00	28.74	240	6,519
DHY	CS Hi Yld Bnd Fd	Credit Suisse	1.42	-6.20	7.69	0.00	28.03	267	7,073
DSL	DbLin Incm Solutions Fd	Doubleline	1.41	-1.04	7.27	5.87	27.42	1,870	6,669
EAD	WF Incm Opp Fd	Wells Fargo	1.44	-5.62	7.82	1.59	26.20	550	1,524
EFF	EV Flt-Rt Inc+ Fd	Eaton Vance	1.43	-0.48	4.29	9.22	35.60	126	738
EFL	EV Flt-Rt 2022 Tgt Trm Tr	Eaton Vance	1.46	4.95	4.18	0.00	34.32	220	601
EFR	EV Sr Flt-Rt Tr	Eaton Vance	1.43	-2.30	5.56	0.00	38.40	529	1,757
EFT	EV Flt-Rt Incm Tr	Eaton Vance	1.42	-2.74	5.16	0.00	37.90	581	1,628
EHI	WA Glbl Hi Incm Fd	Franklin Templeton	1.40	-2.17	7.77	3.84	30.40	240	450
EHT	EV 2021 Tgt Trm Tr	Eaton Vance	1.41	-0.41	3.42	0.00	0.00	212	649
ERC	WF Mlt-Sctr Incm Fd	Wells Fargo	1.42	-2.27	8.79	0.00	27.50	358	972
EVF	EV Sr Incm Tr	Eaton Vance	1.42	-2.48	6.10	0.00	38.90	260	534
FIV	FT Sr Flt Rt 2022 Tgt Trm Fd	First Trust	1.41	-2.18	1.63	0.00	26.88	345	781
FSLF	First Eagle Sr Ln Fd	THL Credit	1.43	-8.37	5.77	0.00	28.30	118	436
FTHY	FT Hi Yld Opp 2027 Trm Fd	First Trust	1.42	-6.03	7.19	0.00	28.15	779	2,420
GDO	WA Glbl Corp Dfin Opp Fd	Franklin Templeton	1.43	-4.11	6.83	11.85	27.79	276	680
GHY	PGIM Glbl Hi Yld Fd	Prudential	1.43	-8.11	8.29	4.33	27.40	676	1,790
HIO	WA Hi Incm Opp Fd	Franklin Templeton	1.44	-5.50	6.99	12.08	0.00	518	1,365
HIX	WA Hi Incm Fd II	Franklin Templeton	1.44	-1.69	8.40	6.15	28.80	418	1,009
HNW	Pioneer Divr Hi Incm Tr	Pioneer	1.44	-4.35	8.83	0.00	32.10	130	479
HYB	New Amrc Hi Incm Fd	T. Rowe Price	1.45	-6.04	6.42	0.00	27.00	232	731
HYI	WA Hi Yld Dfin Opp Fd	Franklin Templeton	1.42	-2.77	7.34	7.33	0.00	360	714
HYT	BR Corp Hi Yld Fd	BlackRock	1.43	-1.98	7.88	15.00	29.55	1,476	4,379
IGI	WA Inv Grd Dfin Opp Tr	Franklin Templeton	1.40	-0.98	3.76	1.63	0.00	232	503
IHIT	Invsc Hi Incm 2023 Tgt Trm Fd	Invesco	1.42	1.97	6.42	0.00	27.00	220	792
ISD	PGIM Hi Yld Bnd Fd	Prudential	1.43	-6.84	7.90	10.51	24.11	569	1,604
IVH	Ivy Hi Incm Opp Fd	Ivy Investment	1.42	-9.32	7.00	0.00	25.98	251	760
JCO	Nuveen Cr Opp 2022 Tgt Trm Fd	Nuveen	1.45	2.87	6.57	0.00	26.70	232	515
JFR	Nuv Flt Rt Incm Fd	Nuveen	1.42	-6.46	7.18	0.00	35.56	590	6,064
JGH	Nuv Glbl Hi Incm Fd	Nuveen	1.45	-7.08	8.61	0.00	28.64	393	792
JHB	Nuv Corp Incm Nov 2021 Tgt Trm	Nuveen	1.42	-0.74	2.61	0.00	0.00	531	1,391
JHS	JH Incm Sec Tr	John Hancock	1.38	-3.77	5.14	0.00	33.24	185	247
JRO	Nuv Flt Rt Incm Opp Fd	Nuveen	1.42	-6.82	7.21	0.00	35.55	416	3,167
JSD	Nuv Srt Dur Cr Opp Fd	Nuveen	1.44	-8.04	7.26	0.00	35.48	157	424
KIO	KKR Incm Opp Fd	KKR Credit	1.41	-5.04	7.96	1.36	36.53	339	1,297
MCI	Barings Corp Invstr	Barings	1.47	-3.19	6.59	0.00	8.96	305	383
NSL	Nuv Sr Incm Fd	Nuveen	1.43	-7.38	7.22	0.00	35.52	236	5,142
OCCI	OFS Credit Company	OFS Capital	1.43	5.68	14.25	0.00	32.63	46	809
PCI	PIMCO Dyn Cr & Mortg Incm	PIMCO	1.46	13.02	9.15	1.38	43.61	3,039	12,083
PCN	PIMCO Corp & Incm Stgy Fd	PIMCO	1.44	22.94	7.66	0.41	32.67	586	1,353
PDI	PIMCO Dyn Incm Fd	PIMCO	1.47	17.99	9.11	0.00	40.09	1,711	9,779
PFL	PIMCO Incm Stgy Fd	PIMCO	1.42	13.43	9.01	4.53	33.77	359	1,527
PFN	PIMCO Incm Stgy Fd II	PIMCO	1.43	10.81	9.28	3.17	33.31	708	2,655
PGP	PIMCO Glbl Stk+ & Incm Fd	PIMCO	1.47	9.34	7.53	0.00	24.27	111	447
PHK	PIMCO Hi Incm Fd	PIMCO	1.43	14.94	8.51	0.00	34.15	786	3,047
PHT	Pioneer Hi Incm Tr	Pioneer	1.47	1.04	8.91	0.00	30.60	282	835
PKO	PIMCO Incm Opp Fd	PIMCO	1.46	15.69	8.45	0.00	45.00	485	1,815
PPR	Voya Prime Rt Tr	Voya	1.41	-6.07	2.84	0.58	3.60	600	1,856
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	1.45	31.47	8.37	4.79	41.26	1,248	6,755
RCS	PIMCO Stgc Incm Fd	PIMCO	1.44	13.76	8.23	0.00	22.66	290	1,089
TSI	TCW Stgc Incm Fd	TCW	1.41	-4.24	3.89	0.00	0.00	282	754
VLT	Invsc Hi Incm Tr II	Invesco	1.42	-6.17	8.27	18.66	24.00	97	260
VTA	Invsc Dyn Cr Opp Fd	Invesco	1.42	-5.37	7.86	16.98	28.00	762	2,497
WEA	WA Prmr Bnd Fd	Franklin Templeton	1.40	-4.47	5.70	0.00	27.90	173	372

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.

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