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05. Tax-Advantaged Equity Dividend Index

Data as of

About the Index

(1) US Equity, Non-US Equity and Specialty Equity groupings according to CEFdata.com with monthly or quarterly distributions. (2) Removing Preferred Equity, MLP Funds and Single Country Funds. (3) Funds with Market Yield of 6% or more. (4) Leverage Adjusted NAV Yield under 10%. (5) 1 Year Trailing Return of Capital dividend classification over 20%. (6) 1 Year Trailing Income + Short Term Capital Gains under 65%. (7) 90-day average trade dollar $ liquidity over $250K. (8) Removing funds with US / Non US Equity over 10% each. 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 1,801.53 0.05 0.42 3.10 8.75 8.39 6.84 4.89 7.71 7.51 2.44 2.94 2.94
NAV 1,685.19 0.16 0.75 2.96 8.31 9.61 11.16 4.38 7.47 6.51 2.50 2.04 2.04
Difference 0.11 0.33 -0.14 -0.44 1.22 4.32 -0.51 -0.24 -0.99 0.06 -0.91 -0.91
* 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 (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 0.49 - - - - - - - - - - - - - - - - - -
NAV -0.45 - - - - - - - - - - - - - - - - - -
Difference -0.94 - - - - - - - - - - - - - - - - - -
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 7.33 -3.02 -0.66 3.40 -0.88 -2.34 5.26 1.89 5.36 3.38 -3.36 -4.36 -4.45 -4.54 8.79 4.18 8.20 3.39 8.92
NAV 6.08 -3.57 0.54 2.85 0.81 -2.18 5.03 3.58 6.53 3.16 -2.76 -3.44 -3.13 -2.96 7.07 4.98 9.08 5.66 12.56
Difference -1.25 -0.55 1.20 -0.55 1.69 0.16 -0.23 1.69 1.17 -0.22 0.60 0.93 1.32 1.58 -1.72 0.80 0.88 2.28 3.64
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -3.56 -2.36 2.93 -3.08 -7.01 0.40 -6.40 -12.61 -15.30 7.77 -2.03 -12.01 -7.09 6.51 6.13 -4.12 8.38 0.69 -14.72
NAV -3.77 -1.88 2.28 -3.42 -6.55 -0.13 -6.68 -12.91 -15.89 6.90 -3.37 -9.50 -6.52 7.11 6.53 -3.38 10.25 3.06 -13.31
Difference -0.20 0.48 -0.66 -0.34 0.46 -0.53 -0.28 -0.30 -0.59 -0.88 -1.34 2.51 0.57 0.60 0.41 0.74 1.88 2.37 1.40
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 1.26 5.29 5.35 12.32 4.95 3.00 1.38 9.59 23.09 0.22 1.91 -4.13 -2.08 4.87 -1.07 3.18 7.05 4.82 29.02
NAV 0.25 4.00 4.19 8.62 3.67 1.89 0.39 6.03 15.18 0.71 1.82 -3.95 -1.51 4.71 -2.28 4.29 6.72 5.10 21.05
Difference -1.01 -1.29 -1.16 -3.69 -1.28 -1.11 -1.00 -3.56 -7.91 0.49 -0.09 0.18 0.57 -0.16 -1.20 1.11 -0.33 0.29 -7.97
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price -0.36 -11.43 -17.84 -27.49 11.82 4.61 0.59 17.67 -14.68 3.39 4.25 -5.19 2.19 -2.41 16.87 4.44 19.12 21.74 3.87
NAV -1.62 -8.43 -16.11 -24.42 11.06 4.98 1.63 18.48 -10.45 4.28 3.59 -3.04 4.74 -1.27 12.08 3.93 15.00 20.45 7.86
Difference -1.26 3.00 1.73 3.07 -0.76 0.36 1.04 0.82 4.23 0.89 -0.67 2.15 2.54 1.14 -4.79 -0.51 -4.12 -1.29 3.99
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 11.38 2.27 1.29 15.38 1.80 -4.92 6.69 3.27 19.15 0.63 -2.54 2.39 0.42 2.15 1.94 3.09 7.34 7.79 28.43
NAV 7.72 2.16 1.45 11.65 1.50 -4.95 5.62 1.90 13.77 0.24 -1.91 1.43 -0.26 2.08 1.81 3.10 7.15 6.87 21.58
Difference -3.66 -0.11 0.16 -3.73 -0.29 -0.03 -1.07 -1.36 -5.38 -0.38 0.63 -0.96 -0.68 -0.07 -0.12 0.01 -0.19 -0.92 -6.84
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 3.04 -4.37 -1.48 -2.92 3.25 1.64 -0.18 4.74 1.69 2.37 1.16 -0.20 3.36 -9.82 2.92 -9.17 -15.70 -12.87 -11.40
NAV 3.26 -5.10 -1.38 -3.35 1.91 0.86 -0.03 2.76 -0.68 3.16 1.03 -0.03 4.20 -6.77 1.55 -7.19 -12.14 -8.44 -9.06
Difference 0.22 -0.73 0.10 -0.43 -1.33 -0.78 0.15 -1.98 -2.37 0.79 -0.13 0.17 0.85 3.05 -1.37 1.98 3.57 4.43 2.34
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.64 2.25 1.36 8.45 3.07 1.20 1.02 5.37 14.28 2.92 -0.96 2.99 4.97 0.51 -0.07 2.55 3.00 8.12 23.55
NAV 2.74 2.13 0.86 5.83 1.19 1.14 0.48 2.83 8.82 2.35 0.15 1.41 3.95 0.83 1.72 1.06 3.65 7.74 17.25
Difference -1.90 -0.12 -0.50 -2.63 -1.88 -0.06 -0.55 -2.54 -5.45 -0.57 1.11 -1.57 -1.02 0.32 1.79 -1.49 0.65 -0.38 -6.31
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -6.71 0.01 7.89 0.66 2.02 1.41 1.46 4.97 5.66 3.89 0.55 0.86 5.37 -3.07 0.86 1.43 -0.84 4.48 10.39
NAV -5.04 -0.42 6.65 0.85 1.72 0.63 0.90 3.28 4.15 2.93 -0.05 0.72 3.62 -1.80 0.93 1.64 0.74 4.38 8.72
Difference 1.67 -0.44 -1.24 0.18 -0.30 -0.78 -0.56 -1.69 -1.51 -0.97 -0.60 -0.14 -1.75 1.28 0.07 0.21 1.58 -0.09 -1.68
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price -0.01 4.32 -1.23 3.03 1.64 0.51 -2.85 -0.75 2.25 0.13 -5.75 -4.57 -9.94 8.41 -0.32 -0.47 7.56 -3.13 -0.95
NAV -1.11 4.35 -1.71 1.43 2.09 0.78 -2.54 0.28 1.71 0.89 -5.60 -2.78 -7.41 7.06 -0.79 -1.40 4.73 -3.03 -1.37
Difference -1.09 0.02 -0.48 -1.60 0.45 0.27 0.31 1.03 -0.54 0.76 0.15 1.79 2.53 -1.35 -0.47 -0.93 -2.83 0.10 -0.42
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price -2.17 4.72 0.32 2.77 2.03 3.11 1.51 6.79 9.75 -1.58 3.15 -4.00 -2.54 1.44 1.75 -3.75 -0.66 -3.18 6.26
NAV -2.52 4.14 -0.03 1.49 0.98 1.89 1.94 4.88 6.45 -1.80 2.67 -3.14 -2.35 0.68 1.05 -1.00 0.73 -1.63 4.71
Difference -0.35 -0.58 -0.34 -1.28 -1.04 -1.22 0.43 -1.90 -3.29 -0.22 -0.49 0.86 0.19 -0.75 -0.70 2.75 1.39 1.55 -1.54
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 6.58 0.39 2.95 10.17 1.70 -0.33 -2.83 -1.51 8.50 3.33 -3.13 2.29 2.40 4.42 0.60 2.79 7.97 10.56 19.97
NAV 3.84 -0.04 2.09 5.96 2.41 -0.84 -2.38 -0.87 5.03 4.01 -2.31 3.65 5.32 3.73 1.04 2.04 6.94 12.63 18.30
Difference -2.75 -0.44 -0.87 -4.21 0.71 -0.52 0.45 0.64 -3.47 0.68 0.82 1.36 2.92 -0.69 0.44 -0.75 -1.03 2.06 -1.67
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 8.71 4.20 0.62 13.98 -0.26 -6.01 4.12 -2.39 11.26 3.01 2.65 2.85 8.75 -1.41 -0.80 0.28 -1.92 6.66 18.67
NAV 4.19 3.25 0.76 8.41 0.22 -6.41 3.93 -2.52 5.68 2.21 1.95 2.09 6.39 -0.32 0.25 1.46 1.39 7.86 13.98
Difference -4.51 -0.95 0.14 -5.58 0.48 -0.40 -0.19 -0.13 -5.58 -0.80 -0.70 -0.76 -2.37 1.09 1.05 1.18 3.31 1.20 -4.69

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-10.88%
1Yr Disc
-9.55%
3Yr Disc
-5.67%
5Yr Disc
-6.08%
Rel Disc Range (3yr)
18.36%
Mkt Yield
8.26%
Lev Adj NAV Yield
6.96%
After Tax Yield*
7.53%
Est Tax Friction*
0.73%
3Yr NAV Volatiliy
17.10
1 Yr RoC
57.03%
3 Yr Dest RoC
22.91%
Leverage
6.35%
Non Lev Exp Ratio
1.21%
Beta (2yr)
0.83
Equity Exposure
95.23%
Bond Exposure
3.22%
# Holdings
42
Cash Weighted Duration
0.06
Comp NAV TR
-1.37%
Comp Discount
-1.55%
Net Assets (M)
828
Liquidity - 90d (K)
2,199
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Asset Allocation

Asset Allocation as reported by each fund's sponsor as of the last reporting period.

Constituents


42 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
AEF abrdn Emrg Mkt Eq Incm Fd abrdn 2.34 -14.77 7.09 78.10 10.58 302 546
AWP abrdn Glbl Prmr Prop Fd abrdn 2.26 -8.40 12.94 76.75 19.54 346 1,427
BCX BR Res & Com Stgy Tr BlackRock 2.20 -15.07 7.40 53.57 0.00 834 2,870
BGR BR Nrg & Res Tr BlackRock 2.30 -13.31 6.40 44.85 0.00 390 948
BGY BR Enh Intl DivTr BlackRock 2.38 -13.37 7.54 56.78 0.00 623 1,288
BIGZ BR Innovation & Gwth Trm Tr BlackRock 2.55 -13.46 6.67 100.00 0.00 2,085 8,693
BME BR Health Sci Tr BlackRock 2.43 -5.26 6.04 43.48 0.00 623 1,739
BMEZ BR Health Sci Trm Tr BlackRock 2.59 -12.93 6.66 100.00 0.00 1,993 8,842
BOE BR Enh Glbl DivTr BlackRock 2.40 -14.81 7.38 66.55 0.00 740 1,838
BTO JH Fin Opp Fd John Hancock 2.19 0.04 9.14 39.44 17.91 558 1,710
BUI BR Util Infra & Pwr OppTr BlackRock 2.22 -3.84 6.98 38.52 0.00 486 1,359
DIAX Nuv Dow 30SM Dyn Owrt Fd Nuveen 2.42 -11.63 7.82 61.22 0.00 604 1,740
BXSY Bexil Investment Tr Bexil 2.37 -35.68 8.01 0.00 10.00 249 265
DPG D&P Util & Infra Fd Virtus 2.31 -12.69 9.18 98.13 29.66 400 1,522
EOI EV Enh Eq Incm Fd Eaton Vance 2.48 -4.64 7.43 28.39 0.00 748 1,337
ETB EV Tx-Mgd By-Wrt Incm Fd Eaton Vance 2.40 -8.98 8.36 49.74 0.00 432 1,005
ETG EV Tx-Adv Glbl Div Incm Fd Eaton Vance 2.44 -11.73 6.71 31.60 19.80 1,551 2,628
ETJ EV Risk-Mgd Divr Eq Incm Fd Eaton Vance 2.47 -8.28 8.36 64.06 0.00 610 1,406
ETO EV Tx-Adv Glbl Div Opp Fd Eaton Vance 2.43 -9.44 6.69 22.48 19.20 446 678
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 2.44 -5.97 8.82 68.70 0.00 1,603 3,447
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 2.40 -13.06 8.74 57.90 0.00 1,007 2,717
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 2.48 -6.09 7.45 23.90 0.00 2,172 3,390
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 2.40 -12.25 8.35 77.74 0.00 2,775 4,726
FFA FT Enh Eq Incm Fd First Trust 2.38 -4.14 6.72 0.00 0.00 391 525
FUND Sprott Focus Tr Sprott 2.24 -10.29 6.42 21.67 0.00 257 314
GAB Gabelli Eq Tr Gabelli 2.45 0.00 11.15 89.17 18.00 1,610 3,712
GDV Gabelli Div & Incm Tr Gabelli 2.41 -15.31 5.91 67.27 13.00 2,378 4,534
GRX Gabelli Health & Well Tr Gabelli 2.48 -18.40 5.99 73.83 23.00 205 431
HEQ JH Hgd Eq & Incm Fd John Hancock 2.38 -11.91 9.66 42.61 0.00 144 496
HQH abrdn Health Invstr abrdn 2.44 -14.16 11.23 74.44 0.00 984 3,856
HQL abrdn Life Sci Invstr abrdn 2.43 -14.27 11.29 72.41 0.00 432 1,938
IDE Voya Infra Ind & Matrls Fd Voya 2.33 -13.89 9.12 19.87 0.00 177 348
IGA Voya Glbl Adv & Prm Opp Fd Voya 2.40 -13.79 9.13 39.85 0.00 154 373
IGD Voya Glbl Eq Div & Prm Opp Voya 2.42 -13.22 9.38 62.50 0.00 465 1,206
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 2.18 -9.63 14.20 28.19 25.02 785 4,598
IHD Voya Emrg Mkt Hi Div Eq Fd Voya 2.34 -14.00 10.34 75.25 0.00 110 179
JCE Nuv Core Eq Alpha Fd Nuveen 2.37 -2.05 9.23 93.63 0.00 228 706
LGI Lzrd Glbl Tot Rtn & Incm Fd Lazard 2.42 -13.72 7.95 67.50 29.74 238 635
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 2.39 -8.40 7.04 39.06 0.00 1,273 3,078
RMT Royce Micro-Cap Tr Franklin Templeton 2.30 -11.91 6.68 66.68 4.14 506 1,100
SPXX Nuv S&P 500 Dyn Owrt Fd Nuveen 2.39 -9.19 7.58 30.99 0.00 307 841
UTF C&S Infra Fd Cohen&Steers 2.38 -2.34 8.56 23.32 30.10 2,140 6,179

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.

Class E Units       8% PIK             8.00 %   11/6/2021     4,055,099       4,055,099       4,055,099       2.32 %