About the Index
(1) Taxable Bond Funds groupings according to CEFdata.com. (2) Removing funds with US / Non US Equity allocation over 10% each. (3) Removing funds with US Bonds allocation over 50%. (4) 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 | 1,208.63 | -0.47 | -0.65 | 1.52 | 14.58 | 15.13 | -0.73 | 1.33 | 8.86 | 0.37 | 0.37 | 0.37 | |||||||
NAV | 1,146.57 | -0.21 | -0.12 | -0.18 | 6.93 | 7.68 | 0.93 | 0.35 | 5.87 | -0.92 | -0.92 | -0.92 | |||||||
Difference | 0.26 | 0.53 | -1.70 | -7.65 | -7.45 | 1.66 | -0.98 | -2.98 | -1.28 | -1.28 | -1.28 | ||||||||
* 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 | 1.18 | -5.44 | -22.37 | -25.72 | 2.49 | 8.84 | 2.93 | 14.82 | -14.72 | 5.48 | 0.38 | -2.94 | 2.77 | -1.74 | 11.58 | 4.33 | 14.39 | 14.39 | 0.25 |
NAV | 0.55 | -2.30 | -19.20 | -20.62 | 3.54 | 7.69 | 3.76 | 15.70 | -8.16 | 3.32 | 1.30 | -1.97 | 2.60 | 0.13 | 5.67 | 2.75 | 8.72 | 8.72 | 2.45 |
Difference | -0.63 | 3.14 | 3.17 | 5.10 | 1.06 | -1.15 | 0.83 | 0.88 | 6.56 | -2.15 | 0.92 | 0.97 | -0.16 | 1.87 | -5.91 | -1.58 | -5.67 | -5.67 | 2.19 |
2019 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2019 | |
Price | 10.39 | 2.32 | -0.92 | 11.92 | 1.35 | -1.57 | 4.41 | 4.15 | 16.56 | 2.61 | -5.20 | 1.75 | -1.01 | 1.87 | -0.69 | 3.53 | 4.73 | 3.67 | 20.85 |
NAV | 5.41 | 0.41 | -0.17 | 5.66 | 0.57 | -0.54 | 3.25 | 3.27 | 9.12 | 1.46 | -3.89 | 0.52 | -1.98 | 1.50 | -1.11 | 2.87 | 3.25 | 1.21 | 10.44 |
Difference | -4.99 | -1.90 | 0.75 | -6.26 | -0.78 | 1.03 | -1.16 | -0.88 | -7.44 | -1.15 | 1.31 | -1.23 | -0.96 | -0.37 | -0.42 | -0.66 | -1.48 | -2.46 | -10.41 |
2018 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2018 | |
Price | 1.04 | -1.87 | -0.53 | -1.38 | -1.23 | -4.29 | -2.74 | -8.05 | -9.32 | 3.35 | -2.49 | -0.49 | 0.28 | -4.51 | 0.13 | -0.01 | -4.39 | -4.13 | -13.07 |
NAV | 1.98 | -2.07 | -0.29 | -0.43 | -1.50 | -3.47 | -3.03 | -7.80 | -8.19 | 3.35 | -4.56 | 1.75 | 0.37 | -1.56 | 0.27 | 0.34 | -0.95 | -0.58 | -8.72 |
Difference | 0.94 | -0.20 | 0.24 | 0.96 | -0.28 | 0.82 | -0.29 | 0.25 | 1.13 | 0.01 | -2.07 | 2.25 | 0.10 | 2.95 | 0.14 | 0.35 | 3.44 | 3.55 | 4.34 |
2017 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2017 | |
Price | 4.42 | 2.58 | -0.27 | 6.82 | 2.91 | 1.54 | -1.00 | 3.45 | 10.50 | 3.57 | -0.32 | 1.03 | 4.30 | -0.00 | -2.38 | 1.63 | -0.79 | 3.47 | 14.34 |
NAV | 2.40 | 2.43 | 0.59 | 5.50 | 1.52 | 0.64 | 0.01 | 2.18 | 7.81 | 1.87 | 1.38 | 0.08 | 3.36 | -0.31 | 0.19 | 0.68 | 0.56 | 3.94 | 12.05 |
Difference | -2.02 | -0.15 | 0.86 | -1.32 | -1.39 | -0.90 | 1.01 | -1.26 | -2.70 | -1.70 | 1.70 | -0.95 | -0.94 | -0.30 | 2.57 | -0.95 | 1.35 | 0.47 | -2.29 |
2016 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2016 | |
Price | -2.02 | 2.52 | 8.39 | 8.87 | 3.75 | -0.84 | 3.34 | 6.31 | 15.75 | 5.03 | 2.05 | -0.71 | 6.42 | -1.58 | -4.43 | 2.85 | -3.26 | 2.95 | 19.17 |
NAV | -1.41 | 1.20 | 5.61 | 5.38 | 3.05 | -1.51 | 3.56 | 5.11 | 10.76 | 2.12 | 1.29 | 0.48 | 3.93 | -0.14 | -4.48 | 1.86 | -2.84 | 0.98 | 11.84 |
Difference | 0.62 | -1.32 | -2.78 | -3.50 | -0.70 | -0.67 | 0.22 | -1.21 | -4.99 | -2.91 | -0.76 | 1.19 | -2.49 | 1.44 | -0.05 | -0.99 | 0.42 | -1.97 | -7.32 |
2015 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2015 | |
Price | 1.06 | 1.28 | -1.85 | 0.45 | 4.12 | -1.85 | -4.93 | -2.85 | -2.41 | -2.72 | -4.78 | -3.26 | -10.39 | 8.38 | -2.66 | -1.95 | 3.44 | -7.31 | -9.54 |
NAV | -0.29 | 1.46 | -1.88 | -0.74 | 3.14 | -1.23 | -2.19 | -0.36 | -1.10 | -1.35 | -3.08 | -3.25 | -7.50 | 4.36 | -0.69 | -3.45 | 0.06 | -7.44 | -8.46 |
Difference | -1.35 | 0.18 | -0.03 | -1.19 | -0.97 | 0.62 | 2.74 | 2.49 | 1.31 | 1.36 | 1.70 | 0.01 | 2.89 | -4.02 | 1.98 | -1.50 | -3.37 | -0.14 | 1.08 |
Performance Chart
Discount
Characteristics
PORTFOLIO Weighted Average Data |
||||
---|---|---|---|---|
Discount -3.96% |
1Yr Disc -7.16% |
3Yr Disc -5.71% |
5Yr Disc -7.05% |
Rel Disc Range (3yr) 71.88% |
Mkt Yield 7.96% |
Lev Adj NAV Yield 6.38% |
After Tax Yield* 6.67% |
Est Tax Friction* 1.29% |
3Yr NAV Volatiliy 10.13 |
1 Yr RoC 45.08% |
3 Yr Dest RoC 39.55% |
Leverage 20.12% |
Non Lev Exp Ratio 1.55% |
Beta (2yr) 0.44 |
Equity Exposure 0.65% |
Bond Exposure 88.52% |
# Holdings 13 |
Cash Weighted Duration 4.83 |
|
Comp NAV TR -2.49% |
Comp Discount 1.34% |
Net Assets (M) 460 |
Liquidity - 90d (K) 1,615 |
|
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%. |
Asset Allocation
Constituents
13 Funds
Ticker | Name | Sponsor | Allocation | Discount | Market Yield | RoC(1yr) | Leverage | Net Assets | Liquidity (90d) |
---|---|---|---|---|---|---|---|---|---|
ACP | Abd Incm Cr Stgs Fd | Aberdeen | 7.92 | -3.62 | 10.98 | 22.72 | 31.04 | 198 | 1,102 |
DLY | DbLin Yld Opp Fd | Doubleline | 7.88 | -6.67 | 7.36 | 12.67 | 20.01 | 1,218 | 3,974 |
EDD | MS Emrg Mkt Dom Dbt | Morgan Stanley | 7.64 | -14.19 | 6.81 | 0.00 | 21.32 | 475 | 1,515 |
EDF | SH Emrg Mkt Incm Fd | Stone Harbor | 7.54 | 11.03 | 12.08 | 74.53 | 28.43 | 119 | 1,069 |
EDI | SH Emrg Mkt Tot Incm Fd | Stone Harbor | 7.29 | 3.34 | 11.07 | 69.03 | 28.08 | 83 | 502 |
EMD | WA Emrg Mkt Dbt Fd | Legg Mason | 7.56 | -9.15 | 7.88 | 23.72 | 29.30 | 917 | 2,586 |
FAM | FT/Abd Glbl Opp Incm Fd | First Trust | 7.75 | -4.25 | 9.07 | 48.80 | 27.56 | 140 | 470 |
FAX | Abd Asia-Pacific Incm Fd | Aberdeen | 7.63 | -9.65 | 7.50 | 51.55 | 27.65 | 1,206 | 3,398 |
FCO | Abd Glbl Incm Fd | Aberdeen | 7.81 | 14.82 | 10.53 | 60.33 | 24.77 | 61 | 324 |
GIM | Tmp Glbl Incm Fd | Franklin | 7.82 | -7.43 | 3.44 | 0.00 | 0.00 | 813 | 3,891 |
JEMD | Nuv Emrg Mkt Dbt 2022 Tgt Trm | Nuveen | 7.86 | -2.29 | 5.24 | 0.00 | 22.57 | 112 | 429 |
MSD | MS Emrg Mkt Dbt Fd | Morgan Stanley | 7.72 | -11.60 | 4.56 | 0.00 | 1.24 | 213 | 506 |
TEI | Tmp Emrg Mkt Incm Fd | Franklin | 7.59 | -11.71 | 7.27 | 0.00 | 0.00 | 418 | 1,177 |