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(%) | 10 Year(%) | MTD(%) | QTD(%) | YTD(%) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Price | 1,014.56 | 0.02 | 1.64 | -0.15 | -2.25 | 6.29 | -2.35 | -0.25 | -1.03 | -0.08 | 0.46 | -0.26 | 4.39 | ||||||
NAV | 968.34 | 0.55 | 1.78 | -0.04 | 1.87 | 4.68 | -1.77 | -1.59 | -1.79 | -0.52 | 0.94 | 0.45 | 4.45 | ||||||
Difference | 0.53 | 0.14 | 0.11 | 4.11 | -1.60 | 0.58 | -1.34 | -0.76 | -0.44 | 0.48 | 0.71 | 0.06 | |||||||
* 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 (%) | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2023 | |
Price | 11.84 | -3.59 | -2.93 | 4.67 | 0.33 | -1.04 | - | - | - | - | - | - | - | - | - | - | - | - | - |
NAV | 6.37 | -3.10 | 0.89 | 3.98 | 0.24 | -0.72 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Difference | -5.47 | 0.48 | 3.82 | -0.69 | -0.09 | 0.32 | - | - | - | - | - | - | - | - | - | - | - | - | - |
2022 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2022 | |
Price | -1.19 | -5.35 | -1.41 | -7.79 | -5.91 | -2.05 | -7.76 | -14.99 | -21.62 | 2.82 | 0.61 | -11.73 | -8.68 | 0.80 | 9.35 | 1.83 | 12.24 | 2.49 | -19.66 |
NAV | -1.30 | -5.40 | -1.22 | -7.77 | -4.89 | -0.55 | -9.40 | -14.30 | -20.96 | 2.61 | -0.64 | -7.43 | -5.63 | 0.52 | 7.81 | 1.67 | 10.18 | 3.99 | -17.81 |
Difference | -0.11 | -0.05 | 0.18 | 0.02 | 1.03 | 1.50 | -1.64 | 0.69 | 0.66 | -0.21 | -1.25 | 4.30 | 3.06 | -0.28 | -1.54 | -0.16 | -2.06 | 1.49 | 1.86 |
2021 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2021 | |
Price | 0.91 | 0.00 | 0.60 | 1.52 | 3.00 | 2.08 | 1.33 | 6.54 | 8.16 | 0.71 | -0.24 | -3.47 | -3.02 | 1.28 | -3.44 | -2.08 | -4.23 | -7.12 | 0.46 |
NAV | -0.57 | -0.93 | -1.67 | -3.14 | 3.17 | 1.57 | -0.75 | 4.01 | 0.75 | -0.24 | 1.82 | -2.80 | -1.26 | -0.78 | -2.50 | 1.29 | -2.02 | -3.25 | -2.53 |
Difference | -1.48 | -0.93 | -2.27 | -4.66 | 0.17 | -0.51 | -2.08 | -2.53 | -7.41 | -0.95 | 2.06 | 0.67 | 1.75 | -2.06 | 0.94 | 3.37 | 2.22 | 3.87 | -2.99 |
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 | 17.55 | 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 | 11.55 | 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 | -6.01 | 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 |
2014 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2014 | |
Price | -1.92 | 4.64 | 1.80 | 4.48 | 3.26 | 2.44 | 1.09 | 6.94 | 11.73 | -2.20 | 1.41 | -4.37 | -5.16 | 0.52 | -1.09 | -6.37 | -6.91 | -11.71 | -1.36 |
NAV | -1.52 | 3.34 | 1.97 | 3.77 | 1.63 | 2.74 | 0.69 | 5.14 | 9.10 | -0.23 | 0.80 | -4.17 | -3.62 | 1.28 | -1.06 | -4.63 | -4.43 | -7.89 | 0.49 |
Difference | 0.40 | -1.30 | 0.16 | -0.71 | -1.63 | 0.30 | -0.40 | -1.80 | -2.63 | 1.98 | -0.61 | 0.20 | 1.54 | 0.76 | 0.03 | 1.74 | 2.48 | 3.82 | 1.84 |
2013 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2013 | |
Price | 2.24 | 0.45 | -2.12 | 0.52 | 1.92 | -7.14 | -6.25 | -11.28 | -10.81 | -0.90 | -4.36 | 3.77 | -1.65 | 2.83 | -3.74 | -0.04 | -1.05 | -2.68 | -13.20 |
NAV | 0.85 | -0.44 | -0.43 | -0.02 | 2.95 | -4.65 | -5.52 | -7.26 | -7.28 | 0.99 | -3.27 | 3.50 | 1.10 | 2.63 | -2.42 | -0.47 | -0.32 | 0.77 | -6.57 |
Difference | -1.39 | -0.89 | 1.69 | -0.55 | 1.03 | 2.49 | 0.73 | 4.01 | 3.53 | 1.89 | 1.09 | -0.28 | 2.75 | -0.20 | 1.32 | -0.43 | 0.73 | 3.45 | 6.64 |
2012 - Monthly Performance (%) | |||||||||||||||||||
Jan | Feb | Mar | Q1 | Apr | May | Jun | Q2 | 1H | Jul | Aug | Sep | Q3 | Oct | Nov | Dec | Q4 | 2H | 2012 | |
Price | 6.18 | 2.42 | -1.51 | 7.11 | 1.16 | -4.69 | 3.69 | -0.02 | 7.09 | 4.19 | 1.72 | 0.82 | 6.85 | 0.34 | 1.00 | 1.45 | 2.81 | 9.86 | 17.65 |
NAV | 4.58 | 2.71 | -1.14 | 6.19 | 1.29 | -4.67 | 3.57 | 0.01 | 6.20 | 3.68 | 1.04 | 2.08 | 6.93 | 1.04 | 0.93 | 1.84 | 3.86 | 11.06 | 17.94 |
Difference | -1.60 | 0.29 | 0.37 | -0.92 | 0.12 | 0.02 | -0.12 | 0.03 | -0.89 | -0.51 | -0.68 | 1.25 | 0.08 | 0.70 | -0.07 | 0.40 | 1.04 | 1.20 | 0.29 |
Performance Chart
Discount
Characteristics
PORTFOLIO Weighted Average Data |
||||
---|---|---|---|---|
Discount -6.43% |
1Yr Disc -5.56% |
3Yr Disc -4.63% |
5Yr Disc -5.31% |
Rel Disc Range (3yr) 37.35% |
Mkt Yield 12.14% |
Lev Adj NAV Yield 9.46% |
After Tax Yield* 10.36% |
Est Tax Friction* 1.78% |
3Yr NAV Volatiliy 8.98 |
1 Yr RoC 50.43% |
3 Yr Dest RoC 53.15% |
Leverage 21.99% |
Non Lev Exp Ratio 1.60% |
Beta (2yr) 0.83 |
Equity Exposure 0.84% |
Bond Exposure 95.86% |
# Holdings 14 |
Cash Weighted Duration 5.21 |
|
Comp NAV TR 0.06% |
Comp Discount 1.40% |
Net Assets (M) 287 |
Liquidity - 90d (K) 789 |
|
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%. |
Asset Allocation
Constituents
14 Funds
Ticker | Name | Sponsor | Allocation | Discount | Market Yield | RoC(1yr) | Leverage | Net Assets | Liquidity (90d) |
---|---|---|---|---|---|---|---|---|---|
ACP | abrdn Incm Cr Stgs Fd | abrdn | 7.41 | -2.76 | 17.91 | 0.00 | 29.70 | 359 | 1,758 |
BWG | BwGlobal Glbl Incm Opp Fd | Franklin Templeton | 7.14 | -15.75 | 12.47 | 43.21 | 41.65 | 153 | 409 |
DCF | BYN A Glbl Cr Incm 2024 Tgt Trm | BNY Mellon | 7.27 | -3.80 | 5.53 | 0.00 | 28.19 | 119 | 332 |
EDD | MS Emrg Mkt Dom Dbt | Morgan Stanley | 7.49 | -14.99 | 6.88 | 48.28 | 16.06 | 360 | 967 |
EDF | Virtus SH Emrg Mkt Incm Fd | Virtus | 6.48 | -0.25 | 17.91 | 57.68 | 24.13 | 69 | 260 |
EDI | Virtus SH Emrg Mkt Tot Incm Fd | Virtus | 6.24 | -2.93 | 18.10 | 53.90 | 23.29 | 48 | 183 |
EMD | WA Emrg Mkt Dbt Fd | Franklin Templeton | 7.22 | -14.56 | 9.94 | 26.15 | 29.43 | 596 | 1,330 |
FAM | FT/abrdn Glbl Opp Incm Fd | First Trust | 7.13 | -11.88 | 12.29 | 72.17 | 19.76 | 67 | 187 |
FAX | abrdn Asia-Pacific Incm Fd | abrdn | 7.34 | -14.42 | 12.36 | 56.08 | 31.70 | 773 | 1,810 |
FCO | abrdn Glbl Incm Fd | abrdn | 7.72 | 30.32 | 15.76 | 72.25 | 25.00 | 54 | 319 |
GHY | PGIM Glbl Hi Yld Fd | Prudential | 7.25 | -11.95 | 11.56 | 6.35 | 22.36 | 507 | 1,517 |
GIM | Tmp Glbl Incm Fd | Franklin Templeton | 6.77 | -9.69 | 9.07 | 58.54 | 0.00 | 466 | 675 |
MSD | MS Emrg Mkt Dbt Fd | Morgan Stanley | 7.34 | -14.11 | 9.77 | 0.00 | 0.00 | 153 | 298 |
TEI | Tmp Emrg Mkt Incm Fd | Franklin Templeton | 7.18 | -10.41 | 11.45 | 58.55 | 15.68 | 264 | 765 |