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08. US Bond Index

Data as of 01/22/2021 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	1,321.30	-0.16	0.62	2.73	11.76	16.14	1.71	6.09	10.89	1.73	1.73	1.73
NAV	1,301.89	-0.06	0.20	1.91	8.43	12.38	5.58	5.63	9.11	1.09	1.09	1.09
Difference		0.10	-0.42	-0.82	-3.33	-3.76	3.87	-0.46	-1.78	-0.64	-0.64	-0.64
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2020 - Monthly Performance (%) Show Previous Years
	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	10.31	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	8.11	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	-2.19	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 -4.42%	1Yr Disc -5.84%	3Yr Disc -4.71%	5Yr Disc -4.24%	Rel Disc Range (3yr) 73.56%
Mkt Yield 7.22%	Lev Adj NAV Yield 5.39%	After Tax Yield* 5.47%	Est Tax Friction* 1.75%	3Yr NAV Volatiliy 9.28
1 Yr RoC 7.05%	3 Yr Dest RoC 1.30%	Leverage 28.26%	Non Lev Exp Ratio 1.47%	Beta (2yr) 0.51
Equity Exposure 0.92%	Bond Exposure 96.58%	# Holdings 74	Cash Weighted Duration 3.62
Comp NAV TR -0.24%	Comp Discount 0.82%	Net Assets (M) 470	Liquidity - 90d (K) 1,862
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

74 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
AFT	Apollo Sr Flt Rt Fd	Apollo	1.35	-11.31	6.09	0.00	32.68	256	738
AIF	Apollo Tactical Incm Fd	Apollo	1.33	-13.01	6.34	0.00	32.16	239	721
ARDC	Ares Dyn Cr Alloc Fd	Ares	1.35	-11.00	8.08	0.00	30.18	373	1,221
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	1.32	-10.11	6.75	0.00	43.27	1,118	2,605
BGB	Blackstone Stgc Cr Fd	Blackstone	1.39	-9.99	6.70	0.00	36.68	649	2,602
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	1.35	-10.44	8.35	0.00	28.68	340	1,135
BGIO	2022 Glbl Incm Opp Tr	BlackRock	1.36	-0.54	6.52	8.16	14.03	205	422
BGX	Blackstone Lng-Srt Cr Incm Fd	Blackstone	1.38	-9.01	7.06	0.00	38.86	195	823
BHK	BR Core Bnd Tr	BlackRock	1.33	-0.61	5.52	5.11	25.08	880	2,145
BKT	BR Incm Tr	BlackRock	1.34	-1.61	6.77	15.50	28.52	396	1,710
BLW	BR Ltd Dur Incm Tr	BlackRock	1.34	-6.39	7.37	10.76	31.25	609	1,917
BSL	Blackstone Sr Flt Rt Trm Fd	Blackstone	1.38	-9.05	6.01	0.00	32.90	229	956
BTZ	BR Cr Alloc Incm Tr	BlackRock	1.36	-4.60	6.74	16.34	29.46	1,463	3,404
BWG	BwGlobal Glbl Incm Opp Fd	Legg Mason	1.32	-12.92	7.26	0.00	33.85	239	768
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	1.34	-7.85	8.52	0.61	31.47	180	3,437
DBL	DbLin Opportunistic Cr Fd	Doubleline	1.34	1.07	6.65	0.00	18.74	293	963
DCF	BYN A Glbl Cr Incm 2024 Tgt Trm	BNY Mellon	1.37	-5.84	6.89	0.00	28.08	138	403
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	1.33	-9.70	8.66	0.00	29.27	240	5,281
DHY	CS Hi Yld Bnd Fd	Credit Suisse	1.33	-9.84	8.65	0.77	28.03	263	4,987
DSL	DbLin Incm Solutions Fd	Doubleline	1.33	-7.05	7.95	6.64	27.42	1,819	9,465
EAD	WF Incm Opp Fd	Wells Fargo	1.33	-10.45	8.22	5.09	27.11	551	1,366
EFF	EV Flt-Rt Inc+ Fd	Eaton Vance	1.33	-6.43	4.86	10.06	35.50	127	232
EFL	EV Flt-Rt 2022 Tgt Trm Tr	Eaton Vance	1.37	-2.35	4.73	0.00	35.00	221	688
EFR	EV Sr Flt-Rt Tr	Eaton Vance	1.40	-7.16	5.93	0.00	37.53	530	1,708
EFT	EV Flt-Rt Incm Tr	Eaton Vance	1.40	-5.81	5.58	0.00	36.40	583	2,084
EHI	WA Glbl Hi Incm Fd	Legg Mason	1.36	-4.12	7.84	3.19	28.65	243	1,018
EHT	EV 2021 Tgt Trm Tr	Eaton Vance	1.34	-0.91	3.93	0.00	0.00	212	622
ERC	WF Mlt-Sctr Incm Fd	Wells Fargo	1.34	-6.60	9.04	0.00	27.93	375	1,010
EVF	EV Sr Incm Tr	Eaton Vance	1.38	-4.93	6.59	2.37	37.00	261	591
EVG	EV Srt Dur Divr Incm Fd	Eaton Vance	1.41	-5.48	6.87	14.63	38.27	248	430
FIV	FT Sr Flt Rt 2022 Tgt Trm Fd	First Trust	1.36	-4.37	1.67	0.00	26.40	344	962
FSLF	First Eagle Sr Ln Fd	THL Credit	1.35	-10.78	5.94	0.00	28.82	118	452
GDO	WA Glbl Corp Dfin Opp Fd	Legg Mason	1.31	-4.99	6.77	13.06	28.54	281	501
GHY	PGIM Glbl Hi Yld Fd	Prudential	1.34	-11.60	8.65	2.75	27.01	674	1,743
HIO	WA Hi Incm Opp Fd	Legg Mason	1.32	-10.24	7.94	11.82	0.00	520	2,834
HIX	WA Hi Incm Fd II	Legg Mason	1.33	-4.45	8.56	7.04	28.08	422	2,048
HNW	Pioneer Divr Hi Incm Tr	Pioneer	1.33	-6.27	9.11	0.00	30.80	129	376
HYB	New Amrc Hi Incm Fd	T. Rowe Price	1.34	-10.68	6.83	0.00	26.00	230	704
HYI	WA Hi Yld Dfin Opp Fd	Legg Mason	1.33	-3.14	7.36	3.25	0.00	360	915
HYT	BR Corp Hi Yld Fd	BlackRock	1.32	-6.41	8.32	14.17	31.96	1,464	4,511
IGI	WA Inv Grd Dfin Opp Tr	Legg Mason	1.30	-0.77	3.66	0.86	0.00	238	508
IHIT	Invsc Hi Incm 2023 Tgt Trm Fd	Invesco	1.40	-0.78	6.73	0.00	29.00	216	893
IHTA	Invsc Hi Incm 2024 Tgt Trm Fd	Invesco	1.37	-3.44	6.25	0.00	27.00	82	364
ISD	PGIM Hi Yld Bnd Fd	Prudential	1.35	-10.57	8.32	8.84	24.75	563	1,813
IVH	Ivy Hi Incm Opp Fd	Ivy Investment	1.32	-10.84	7.75	0.00	26.42	245	663
JCO	Nuveen Cr Opp 2022 Tgt Trm Fd	Nuveen	1.36	-1.08	6.86	0.00	26.72	231	762
JFR	Nuv Flt Rt Incm Fd	Nuveen	1.41	-9.30	6.29	0.00	35.75	581	2,859
JGH	Nuv Glbl Hi Incm Fd	Nuveen	1.30	-9.98	6.73	0.00	27.50	393	562
JHB	Nuv Corp Incm Nov 2021 Tgt Trm	Nuveen	1.34	-2.01	2.65	0.00	0.00	529	1,622
JRO	Nuv Flt Rt Incm Opp Fd	Nuveen	1.41	-9.40	6.22	0.00	35.75	410	3,424
JSD	Nuv Srt Dur Cr Opp Fd	Nuveen	1.36	-10.49	6.46	0.00	35.73	154	503
KIO	KKR Incm Opp Fd	KKR Credit	1.35	-10.01	8.59	1.30	36.72	331	1,529
MCI	Barings Corp Invstr	Barings	1.40	-7.13	7.02	0.00	9.01	297	473
NSL	Nuv Sr Incm Fd	Nuveen	1.39	-9.83	6.77	0.00	35.76	232	1,028
OCCI	OFS Credit Company	OFS Capital	1.44	-0.15	15.44	0.00	32.63	44	605
PCI	PIMCO Dyn Cr & Mortg Incm	PIMCO	1.34	4.79	9.84	1.38	42.61	3,000	11,992
PCM	PCM Fund	PIMCO	1.39	16.63	8.61	0.35	38.28	111	302
PCN	PIMCO Corp & Incm Stgy Fd	PIMCO	1.32	18.89	7.91	0.41	30.45	577	1,315
PDI	PIMCO Dyn Incm Fd	PIMCO	1.33	5.56	10.09	0.00	38.67	1,677	9,090
PFL	PIMCO Incm Stgy Fd	PIMCO	1.34	7.24	9.47	2.62	32.77	349	1,305
PFN	PIMCO Incm Stgy Fd II	PIMCO	1.34	5.40	9.65	2.02	32.57	696	2,562
PGP	PIMCO Glbl Stk+ & Incm Fd	PIMCO	1.36	4.29	8.12	0.00	28.66	108	534
PHD	Pioneer Flt Rt Tr	Pioneer	1.40	-7.47	6.96	0.00	27.60	144	1,259
PHK	PIMCO Hi Incm Fd	PIMCO	1.35	4.44	9.43	0.00	29.08	779	3,304
PHT	Pioneer Hi Incm Tr	Pioneer	1.37	-3.89	9.51	0.00	30.40	278	757
PKO	PIMCO Incm Opp Fd	PIMCO	1.32	5.04	9.19	0.00	40.36	480	1,857
PPR	Voya Prime Rt Tr	Voya	1.35	-8.45	3.56	0.00	20.54	608	2,070
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	1.35	26.52	8.70	3.35	42.79	1,249	6,481
RCS	PIMCO Stgc Incm Fd	PIMCO	1.34	3.90	8.84	0.00	23.70	294	1,109
TSI	TCW Stgc Incm Fd	TCW	1.31	-5.44	2.75	0.00	0.00	281	595
VLT	Invsc Hi Incm Tr II	Invesco	1.33	-10.03	8.49	15.47	25.00	98	325
VTA	Invsc Dyn Cr Opp Fd	Invesco	1.36	-8.35	8.20	11.11	30.00	754	2,923
VVR	Invsc Sr Incm Tr	Invesco	1.39	-8.79	6.07	19.05	30.00	696	2,060
WEA	WA Prmr Bnd Fd	Legg Mason	1.32	-4.40	5.61	0.00	28.50	175	336

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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