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08. US Bond Index

Data as of 09/28/2023 08/31/2023 07/31/2023 06/30/2023 05/31/2023 04/28/2023 03/31/2023 03/23/2023 02/28/2023 01/31/2023 12/30/2022 11/30/2022 10/31/2022 09/30/2022 08/31/2022 07/29/2022 06/30/2022 05/31/2022 04/29/2022 03/31/2022 02/28/2022 02/11/2022 01/31/2022 12/31/2021 11/30/2021 10/29/2021 09/30/2021 08/31/2021 07/30/2021 06/30/2021 05/28/2021 04/30/2021 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(%)	10 Year(%)	MTD(%)	QTD(%)	YTD(%)
Price	1,297.39	0.21	-0.78	-1.45	1.76	5.57	12.36	3.42	2.79	4.60	-1.84	1.27	8.62
NAV	1,300.09	-0.05	-0.57	-0.25	2.15	4.72	10.60	3.10	2.84	4.54	-0.87	1.55	7.38
Difference		-0.26	0.21	1.20	0.40	-0.85	-1.76	-0.31	0.05	-0.06	0.96	0.28	-1.24
* 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 (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2023
Price	8.34	-0.59	-3.66	3.76	1.40	-1.45	3.43	3.36	7.25	3.05	0.11	-	-	-	-	-	-	-	-
NAV	4.51	-0.52	-0.37	3.58	1.23	-0.96	1.82	2.08	5.73	1.75	0.69	-	-	-	-	-	-	-	-
Difference	-3.83	0.06	3.29	-0.19	-0.17	0.49	-1.61	-1.28	-1.52	-1.31	0.58	-	-	-	-	-	-	-	-
2022 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	-4.12	-3.50	-1.22	-8.60	-4.26	-2.49	-5.80	-12.06	-19.62	6.15	-1.04	-8.91	-4.31	2.79	6.72	-4.26	5.02	0.49	-19.23
NAV	-1.47	-1.58	-0.93	-3.93	-2.49	-2.25	-6.57	-10.95	-14.45	4.29	-0.17	-4.72	-0.80	1.33	2.45	-0.44	3.36	2.54	-12.28
Difference	2.65	1.91	0.29	4.67	1.78	0.23	-0.78	1.11	5.17	-1.86	0.87	4.19	3.52	-1.46	-4.27	3.83	-1.65	2.05	6.95
2021 - Monthly Performance (%)
	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	2.19	1.55	2.09	5.94	12.53	-0.29	1.67	-1.36	-0.01	1.53	-1.34	1.01	1.18	1.17	13.85
NAV	1.16	0.80	0.18	2.15	1.37	0.81	1.12	3.34	5.56	0.33	0.82	0.05	1.20	-0.07	-0.90	1.31	0.32	1.53	7.17
Difference	-0.45	-1.17	-2.34	-4.07	-0.82	-0.73	-0.97	-2.60	-6.97	0.62	-0.85	1.42	1.21	-1.60	0.44	0.30	-0.86	0.35	-6.68
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
2014 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2014
Price	1.43	2.29	-0.03	3.72	1.28	1.07	1.29	3.70	7.55	-2.46	1.32	-2.72	-3.87	0.84	-0.30	-2.11	-1.58	-5.39	1.75
NAV	1.44	1.46	0.45	3.39	0.70	1.18	0.84	2.75	6.23	-0.50	0.93	-1.40	-0.97	0.41	-0.12	-2.06	-1.78	-2.73	3.33
Difference	0.01	-0.82	0.49	-0.32	-0.58	0.11	-0.45	-0.95	-1.32	1.97	-0.38	1.32	2.90	-0.43	0.18	0.05	-0.20	2.66	1.58
2013 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2013
Price	4.65	1.00	0.73	6.47	1.37	-3.93	-2.53	-5.07	1.08	-0.94	-1.93	1.51	-1.39	2.05	-1.44	1.37	1.96	0.54	1.63
NAV	2.21	0.59	1.02	3.86	1.71	-0.32	-2.57	-1.22	2.59	1.63	-0.45	1.11	2.30	2.14	0.51	0.20	2.87	5.24	7.97
Difference	-2.44	-0.41	0.29	-2.62	0.34	3.61	-0.04	3.85	1.52	2.57	1.49	-0.40	3.69	0.09	1.96	-1.17	0.91	4.70	6.34
2012 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2012
Price	5.44	2.34	0.07	7.99	1.65	-1.16	2.10	2.58	10.78	3.44	2.48	2.30	8.44	-1.18	-0.49	-0.18	-1.84	6.45	17.92
NAV	3.36	2.52	0.60	6.60	1.03	-1.23	1.58	1.35	8.04	2.38	1.85	2.09	6.46	1.05	0.66	1.12	2.86	9.51	18.31
Difference	-2.08	0.17	0.53	-1.39	-0.63	-0.07	-0.53	-1.23	-2.74	-1.06	-0.62	-0.21	-1.98	2.23	1.15	1.30	4.70	3.06	0.39

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -5.97%	1Yr Disc -6.01%	3Yr Disc -4.34%	5Yr Disc -4.67%	Rel Disc Range (3yr) 34.86%
Mkt Yield 11.30%	Lev Adj NAV Yield 8.25%	After Tax Yield* 8.60%	Est Tax Friction* 2.70%	3Yr NAV Volatiliy 6.85
1 Yr RoC 7.11%	3 Yr Dest RoC 6.56%	Leverage 28.74%	Non Lev Exp Ratio 1.86%	Beta (2yr) 0.47
Equity Exposure 5.27%	Bond Exposure 92.86%	# Holdings 61	Cash Weighted Duration 3.15
Comp NAV TR 0.10%	Comp Discount 1.00%	Net Assets (M) 501	Liquidity - 90d (K) 1,825
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

61 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
AFT	Apollo Sr Flt Rt Fd	Apollo	1.63	-10.82	11.52	0.00	35.78	235	739
AIF	Apollo Tactical Incm Fd	Apollo	1.63	-8.67	10.95	0.00	36.40	212	1,147
ARDC	Ares Dyn Cr Alloc Fd	Ares	1.63	-8.19	10.93	0.00	36.00	322	1,126
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	1.53	-7.88	8.10	0.00	23.97	908	1,778
BGB	Blackstone Stgc Cr 2027 Trm Fd	Blackstone	1.58	-12.22	11.14	0.00	35.61	559	1,695
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	1.56	-12.53	9.98	0.00	24.96	291	795
BGT	BR Flt Rt Incm Fd	BlackRock	1.64	-6.00	11.30	4.71	24.83	286	1,099
BGX	Blackstone Lng-Srt Cr Incm Fd	Blackstone	1.61	-10.86	11.54	0.00	37.83	166	556
BLW	BR Ltd Dur Incm Tr	BlackRock	1.55	-4.80	9.14	9.30	33.89	483	905
BSL	Blackstone Sr Flt Rt 2027 Trm Fd	Blackstone	1.62	-9.37	10.78	0.00	30.26	190	459
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	1.42	-8.48	10.42	5.56	25.72	149	268
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	1.54	-15.75	8.41	0.00	29.87	185	883
DHY	CS Hi Yld Bnd Fd	Credit Suisse	1.57	-9.62	9.89	2.59	26.72	215	1,197
DLY	DbLin Yld Opp Fd	Doubleline	1.58	-2.32	9.51	6.40	20.41	723	2,714
DMO	WA Mortg Opp Fd	Franklin Templeton	1.59	-10.45	12.89	8.18	42.01	136	496
DSL	DbLin Incm Solutions Fd	Doubleline	1.53	1.03	11.26	7.26	23.06	1,186	3,962
DSU	BR Dbt Stgs Fd	BlackRock	1.65	-4.55	10.64	4.16	22.09	502	1,395
EAD	Allspring Incm Opp Fd	Allspring	1.50	-12.48	9.33	0.00	30.80	416	1,199
ECC	Eagle Point Cr Co	Eagle Point	1.59	9.61	16.55	0.00	27.15	642	5,290
EFR	EV Sr Flt-Rt Tr	Eaton Vance	1.62	-6.85	10.80	2.64	33.80	379	787
EFT	EV Flt-Rt Incm Tr	Eaton Vance	1.66	-6.74	11.31	3.25	34.10	384	931
EHI	WA Glbl Hi Incm Fd	Franklin Templeton	1.45	-6.20	12.07	14.38	31.58	161	303
EIC	Eagle Point Incm Co	Eagle Point	1.69	3.19	15.16	0.00	22.73	131	779
ERC	Allspring Mlt-Sctr Incm Fd	Allspring	1.54	-5.31	8.56	3.27	30.00	270	497
EVF	EV Sr Incm Tr	Eaton Vance	1.73	-4.84	11.39	1.16	34.90	109	487
FCT	FT Sr Flt Rt Incm Fd II	First Trust	1.61	-9.99	11.64	11.41	19.25	289	591
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	1.62	-4.47	11.13	4.53	23.45	465	1,632
FTF	FrkTmp Ltd Dur Incm Tr	Franklin Templeton	1.55	-13.37	11.65	6.73	32.11	284	915
FTHY	FT Hi Yld Opp 2027 Trm Fd	First Trust	1.55	-12.54	11.71	27.48	17.84	560	1,158
HIO	WA Hi Incm Opp Fd	Franklin Templeton	1.53	-12.29	11.70	3.59	0.00	395	956
HIX	WA Hi Incm Fd II	Franklin Templeton	1.46	-3.25	13.18	14.84	27.27	307	685
HNW	Pioneer Divr Hi Incm Fd	Amundi Asset Mgmt	1.58	-13.54	10.57	4.25	30.70	99	365
HYB	New Amrc Hi Incm Fd	T. Rowe Price	1.53	-17.14	7.41	0.00	31.00	183	369
HYI	WA Hi Yld Dfin Opp Fd	Franklin Templeton	1.54	-6.05	9.92	3.70	0.00	277	758
IGI	WA Inv Grd Dfin Opp Tr	Franklin Templeton	1.52	-3.94	5.19	0.00	0.00	179	378
IHIT	Invsc Hi Incm 2023 Tgt Trm Fd	Invesco	1.43	-6.46	3.52	0.00	0.00	176	699
ISD	PGIM Hi Yld Bnd Fd	Prudential	1.49	-10.96	10.70	14.67	22.64	440	1,278
JFR	Nuv Flt Rt Incm Fd	Nuveen	6.60	-10.57	12.42	7.13	38.23	1,231	3,900
JQC	Nuv Cr Stgs Incm Fd	Nuveen	1.60	-13.36	12.81	7.48	38.34	792	2,500
KIO	KKR Incm Opp Fd	KKR Credit	1.60	-8.84	12.19	0.00	34.71	356	1,621
MCI	Barings Corp Invstr	Barings	1.68	-5.85	8.78	0.00	10.44	343	702
OCCI	OFS Credit Company	OFS Capital	1.43	-12.79	31.03	0.00	37.20	88	1,203
OXLC	Oxford Lane Cap Corp	Oxford Lane	1.64	4.18	19.24	0.00	37.72	824	9,559
PAXS	PIMCO Access Incm Fd	PIMCO	1.47	-3.88	12.92	1.87	44.23	635	2,165
PCM	PCM Fund	PIMCO	1.46	39.72	10.79	15.10	46.05	76	192
PDI	PIMCO Dyn Incm Fd	PIMCO	1.44	3.78	15.31	3.45	43.27	4,556	21,572
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	1.45	-1.33	12.92	3.16	43.59	1,350	4,929
PGP	PIMCO Glbl Stk+ & Incm Fd	PIMCO	1.47	-0.75	12.51	0.00	24.04	76	239
PHD	Pioneer Flt Rt Fd	Amundi Asset Mgmt	1.64	-11.75	12.32	0.00	32.30	126	466
PHT	Pioneer Hi Incm Fd	Amundi Asset Mgmt	1.58	-12.29	9.84	0.64	32.30	224	731
PIM	Putnam Mstr Imd Incm Tr	Putnam	1.49	-9.04	8.74	17.39	0.00	162	240
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	1.47	23.65	10.91	3.54	28.84	1,512	6,435
RCS	PIMCO Stgc Incm Fd	PIMCO	1.61	27.95	11.53	3.34	35.66	189	511
SDHY	PGIM Srt Dur Hi Yld Opp Fd	Prudential	1.52	-13.70	8.94	15.10	23.04	414	783
VBF	Invsc Bnd Fd	Invesco	1.50	-5.92	5.47	2.52	0.00	176	438
VVR	Invsc Sr Incm Tr	Invesco	1.61	-5.31	11.94	6.77	32.79	634	2,406
WDI	WA Divr Incm Fd	Franklin Templeton	1.55	-11.14	12.69	0.00	32.61	772	1,904
WEA	WA Prmr Bnd Fd	Franklin Templeton	1.57	-7.00	8.33	0.00	27.06	129	325
WIA	WA Inf-Lnk Incm Fd	Franklin Templeton	1.49	-14.16	7.67	0.00	39.23	212	312
WIW	WA Inf-Lnk Opp & Incm Fd	Franklin Templeton	1.47	-16.11	8.82	0.00	37.90	600	1,669
XFLT	XAI Octgn Flt Rt & Alt Incm Trm	XA Investments	1.66	4.20	14.68	0.00	41.07	294	1,887

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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