7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

08. US Bond Index

Data as of 04/25/2024 03/28/2024 02/29/2024 01/31/2024 12/29/2023 11/30/2023 10/31/2023 09/29/2023 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	1,458.57	-0.46	0.12	-1.34	1.98	17.53	17.48	1.44	4.55	5.14	-2.10	-2.10	3.58
NAV	1,408.76	-0.19	0.03	-0.57	1.71	9.64	11.82	1.96	3.96	4.70	-1.15	-1.15	1.78
Difference		0.27	-0.09	0.76	-0.26	-7.89	-5.66	0.53	-0.59	-0.43	0.95	0.95	-1.80
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2024 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2024
Price	2.60	1.59	1.51	5.80	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NAV	1.00	0.83	1.11	2.97	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Difference	-1.59	-0.76	-0.40	-2.83	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2023 - Monthly Performance (%)
	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	-1.24	1.89	-2.76	6.19	4.47	7.88	9.92	17.89
NAV	4.51	-0.52	-0.37	3.58	1.23	-0.96	1.82	2.08	5.73	1.75	0.69	-0.22	2.23	-1.21	3.50	3.44	5.76	8.12	14.31
Difference	-3.83	0.06	3.29	-0.19	-0.17	0.49	-1.61	-1.28	-1.52	-1.31	0.58	1.02	0.33	1.55	-2.69	-1.04	-2.12	-1.80	-3.57
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 -3.91%	1Yr Disc -5.95%	3Yr Disc -5.17%	5Yr Disc -5.27%	Rel Disc Range (3yr) 48.67%
Mkt Yield 10.51%	Lev Adj NAV Yield 8.00%	After Tax Yield* 7.98%	Est Tax Friction* 2.53%	3Yr NAV Volatiliy 6.78
1 Yr RoC 7.94%	3 Yr Dest RoC 6.34%	Leverage 27.47%	Non Lev Exp Ratio 1.99%	Beta (2yr) 0.45
Equity Exposure 7.68%	Bond Exposure 90.21%	# Holdings 59	Cash Weighted Duration 2.95
Comp NAV TR 0.61%	Comp Discount 0.44%	Net Assets (M) 457	Liquidity - 90d (K) 2,015
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

59 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
AFT	Apollo Sr Flt Rt Fd	Apollo	1.72	-5.42	11.89	0.00	35.65	233	1,345
AIF	Apollo Tactical Incm Fd	Apollo	1.70	-4.83	12.34	0.00	36.04	213	1,996
ARDC	Ares Dyn Cr Alloc Fd	Ares	1.68	-5.16	10.22	0.00	35.12	333	1,392
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	1.69	-6.47	7.65	0.00	18.05	947	1,967
BGB	Blackstone Stgc Cr 2027 Trm Fd	Blackstone	1.71	-7.93	9.52	0.00	37.15	569	1,670
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	1.71	-9.54	9.03	0.00	25.81	311	864
BGT	BR Flt Rt Incm Fd	BlackRock	1.71	0.23	11.25	9.17	22.99	286	1,199
BGX	Blackstone Lng-Srt Cr Incm Fd	Blackstone	1.70	-8.67	10.40	0.00	31.98	169	667
BLW	BR Ltd Dur Incm Tr	BlackRock	1.65	-3.18	9.67	10.99	36.98	494	1,209
BSL	Blackstone Sr Flt Rt 2027 Trm Fd	Blackstone	1.71	-4.53	9.68	0.00	32.04	193	1,019
CCIF	Carlyle Cr Incm Fd	Carlyle Glbl Cr Inv Mgmt	1.72	-0.89	16.13	3.39	0.00	92	596
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	1.71	-1.03	9.34	0.00	25.18	156	403
DHF	BNY Mellon Hi Yld Stgs Fd	BNY Mellon	1.68	-12.83	9.09	0.00	28.78	193	698
DHY	CS Hi Yld Bnd Fd	Credit Suisse	1.74	-6.51	9.25	0.00	26.17	223	1,100
DLY	DbLin Yld Opp Fd	Doubleline	1.64	-4.68	9.29	3.05	19.34	758	2,493
DMO	WA Mortg Opp Fd	Franklin Templeton	1.69	-5.43	13.25	9.04	44.18	136	588
DSL	DbLin Incm Solutions Fd	Doubleline	1.64	-1.31	10.95	7.35	21.77	1,252	4,571
DSU	BR Dbt Stgs Fd	BlackRock	1.67	-1.30	11.13	9.67	20.27	503	1,639
EAD	Allspring Incm Opp Fd	Allspring	1.68	-10.75	9.72	0.00	30.51	423	1,200
ECC	Eagle Point Cr Co	Eagle Point	1.71	9.06	16.82	0.00	22.90	781	6,776
EFR	EV Sr Flt-Rt Tr	Eaton Vance	1.74	1.00	11.08	0.00	33.50	379	1,202
EFT	EV Flt-Rt Incm Tr	Eaton Vance	1.75	1.28	10.54	0.00	36.70	347	1,258
EIC	Eagle Point Incm Co	Eagle Point	1.61	2.25	15.52	0.00	32.21	196	1,998
ERC	Allspring Mlt-Sctr Incm Fd	Allspring	1.66	-9.68	8.86	0.00	29.71	275	625
EVF	EV Sr Incm Tr	Eaton Vance	1.74	2.26	11.56	0.00	37.88	98	526
EVG	EV Srt Dur Divr Incm Fd	Eaton Vance	1.70	-5.99	9.17	10.20	32.02	148	507
FCT	FT Sr Flt Rt Incm Fd II	First Trust	1.74	-6.52	11.28	8.86	11.40	287	1,040
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	1.75	-0.84	11.39	9.98	21.38	464	2,065
FTF	FrkTmp Ltd Dur Incm Tr	Franklin Templeton	1.70	-12.38	11.98	0.00	31.74	284	983
HIO	WA Hi Incm Opp Fd	Franklin Templeton	1.67	-9.27	11.45	13.01	0.00	390	1,190
HNW	Pioneer Divr Hi Incm Fd	Amundi Asset Mgmt	1.66	-8.67	9.50	4.02	28.80	104	279
HYB	New Amrc Hi Incm Fd	T. Rowe Price	1.67	-12.38	6.85	0.00	31.00	187	312
HYI	WA Hi Yld Dfin Opp Fd	Franklin Templeton	1.68	-4.01	9.91	5.16	0.00	271	494
INSI	Insight Sel Incm Fd	Cutwater	1.72	-4.60	4.95	0.00	0.00	182	349
JFR	Nuv Flt Rt Incm Fd	Nuveen	1.72	-7.45	11.90	2.03	37.87	1,241	4,795
JHI	JH Invstr Tr	John Hancock	1.71	-9.44	6.17	0.00	40.47	126	389
JHS	JH Incm Sec Tr	John Hancock	1.69	-6.35	4.01	0.00	39.49	136	350
JLS	Nuv Mortg Opp Trm Fd	Nuveen	1.71	-10.20	9.82	1.43	24.65	106	443
JQC	Nuv Cr Stgs Incm Fd	Nuveen	1.71	-7.33	11.91	3.47	38.03	796	3,341
KIO	KKR Incm Opp Fd	KKR Credit	1.69	-2.65	11.04	0.00	35.32	368	1,722
MCI	Barings Corp Invstr	Barings	1.78	5.55	8.59	0.00	11.07	340	634
MPV	Barings Partcp Invstr	Barings	1.66	0.00	9.09	0.00	11.67	163	314
OCCI	OFS Credit Company	OFS Capital	1.69	-6.43	17.17	0.00	34.31	119	770
OXLC	Oxford Lane Cap Corp	Oxford Lane	1.69	1.22	19.35	0.00	31.30	1,016	10,183
PAI	WA Inv Grd Incm Fd	Franklin Templeton	1.69	-5.71	4.95	0.00	0.00	120	269
PAXS	PIMCO Access Incm Fd	PIMCO	1.69	1.67	11.79	11.72	42.48	659	2,857
PDI	PIMCO Dyn Incm Fd	PIMCO	1.71	11.26	14.02	19.62	39.54	5,119	28,464
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	1.70	2.07	11.96	19.96	41.03	1,434	5,701
PGP	PIMCO Glbl Stk+ & Incm Fd	PIMCO	1.68	0.55	11.25	6.11	16.66	84	322
PHD	Pioneer Flt Rt Fd	Amundi Asset Mgmt	1.71	-7.65	11.64	0.00	31.90	128	517
PHT	Pioneer Hi Incm Fd	Amundi Asset Mgmt	1.65	-8.97	9.03	0.59	31.30	236	541
RCS	PIMCO Stgc Incm Fd	PIMCO	1.63	31.94	10.74	0.42	37.91	199	781
SDHY	PGIM Srt Dur Hi Yld Opp Fd	Prudential	1.69	-12.86	8.66	20.23	22.40	424	1,206
VBF	Invsc Bnd Fd	Invesco	1.68	-3.92	5.14	2.75	0.00	180	604
WDI	WA Divr Incm Fd	Franklin Templeton	1.69	-8.33	12.32	0.00	31.30	790	2,788
WEA	WA Prmr Bnd Fd	Franklin Templeton	1.75	-2.82	7.87	0.00	29.80	130	569
WIA	WA Inf-Lnk Incm Fd	Franklin Templeton	1.67	-14.02	7.64	0.00	39.30	213	291
WIW	WA Inf-Lnk Opp & Incm Fd	Franklin Templeton	1.68	-14.62	8.69	0.00	37.80	598	1,789
XFLT	XAI Octgn Flt Rt & Alt Incm Tr	XA Investments	1.73	2.19	14.55	5.79	38.17	375	2,787

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.

© Closed-End Fund Advisors Inc.(CEFadvisors) and CEFdata.com 2019. All rights reserved. Any copying, republication or redistribution of CEFadvisors, CEFdata.com, content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of CEFAdvisors. CEFAdvisors shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.