About the Index
(1) Taxable Bond Funds groupings according to CEFdata.com. (2) Removing funds with US / Non US Equity allocations over 5% each. (3) US Bond allocation over 80%. (4) 1 Year Trailing Income dividend classification over 80%. (5) 90-day average trade dollar $ liquidity over $250K. Equal weight each fund for the index. The index constituents will be rebalanced each quarter.
Index Performance
Current($) | Previous Day(%) | 1 Week(%) | 1 Month(%) | 3 Month(%) | 6 Month(%) | 1 Year(%) | 3 Year(%) | 5 Year(%) | 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 (%) | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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%. |
Asset Allocation
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 |