11. Alternative Income Index

About the Index

All funds in index must be monthly or quarterly paying funds that have a 6%+ with 65%+ of the yield paid February to October (seeking to avoid large year-end dividends to cause inclusion in the index, and not counting special dividends in this calculation for yield). (1) 15% allocation to all the funds in the Hybrid / Balanced Index, equal weight (2) 15% allocation to all the funds in the Multisector Bond Index, equal weight. (3) 14% allocation to funds in the Equity Income Index (non MLP/Non REIT) 1/3 of funds from the index (after MLP/REIT removal) ranked by lowest daily NAV correlation over the past 6 months to the Equity Income Index NAV, equal weight. (4) 14% allocation to funds in the Taxable Bond and BDC Index (non BDC or Multisector funds) 1/4 of the funds from the index (after BDC / Multisector fund removal) ranked by lowest daily NAV correlation in the past 6 months to the Taxable Bond and BDC Index's NAV, equal weight. (5) 10% allocation to the 10 most liquid as measured by 90 day average trade volume for the BDCs in our BDC index while allowing only 1 BDC per Fund Sponsor, equal weight. (6) 10% allocation to the 10 most liquid as measured by 90 day average trade volume for the MLP funds in our MLP index while only allowing 1 MLP fund per Fund Sponsor, equal weight. (7) 8% allocation to 1/2 of the REIT / Real Asset Funds in our index with the lowest 6 month NAV correlation to the Index's NAV while allowing only 1 fund per Fund Sponsor (lowest correlation), equal weight. (8) 8% allocation to any non-BDC CEFs that report a quarterly NAV, equal weight. (9) 6% allocation to the 5 Preferred Equity funds in our Preferred Equity Index with the lowest 6 month NAV correlation to the Preferred Equity Index's NAV while allowing only 1 fund per Fund Sponsor (lowest correlation), equal weight. The index constituents will be rebalanced each quarter. We manually have removed DXYZ from firm benchmarks.

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	1,770.49	0.10	0.52	-1.19	3.43	1.05	13.62	5.43	17.65	6.29	0.37	0.37	3.43
NAV	1,720.58	0.25	0.72	-0.33	2.28	1.42	10.29	5.05	12.72	5.90	0.56	0.56	2.28
Difference		0.15	0.20	0.86	-1.15	0.37	-3.34	-0.37	-4.93	-0.39	0.18	0.18	-1.15
* Periods greater than 1 Year are annualized. ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.08

2025 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2025
Price	4.31	0.43	-1.63	3.05	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NAV	2.02	0.67	-0.96	1.72	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Difference	-2.29	0.25	0.67	-1.33	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2024 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2024
Price	2.50	1.78	3.21	7.67	-1.95	3.64	2.07	3.72	11.68	2.67	2.06	2.80	7.72	-1.62	3.48	-3.92	-2.18	5.37	17.68
NAV	0.47	1.59	2.45	4.57	-1.62	2.76	1.01	2.13	6.79	2.02	1.94	2.01	6.09	-0.81	2.68	-2.45	-0.65	5.40	12.57
Difference	-2.03	-0.20	-0.76	-3.10	0.33	-0.88	-1.05	-1.59	-4.89	-0.65	-0.12	-0.79	-1.63	0.81	-0.81	1.47	1.53	0.03	-5.12
2023 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2023
Price	8.75	-2.56	-3.38	2.38	0.99	-2.25	4.54	3.20	5.66	4.04	-1.79	-3.62	-1.52	-4.16	8.52	4.08	8.25	6.61	12.64
NAV	5.58	-2.75	-0.97	1.68	1.16	-2.06	3.07	2.12	3.83	2.87	-1.45	-2.32	-0.96	-1.88	6.26	3.93	8.37	7.32	11.44
Difference	-3.17	-0.19	2.41	-0.71	0.17	0.19	-1.46	-1.08	-1.82	-1.17	0.34	1.31	0.55	2.29	-2.26	-0.15	0.12	0.72	-1.20
2022 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	-0.51	-3.03	1.97	-1.63	-5.81	-0.29	-6.69	-12.37	-13.79	7.41	-2.04	-12.07	-7.48	5.55	5.35	-4.44	6.27	-1.69	-15.25
NAV	-1.59	-0.57	1.17	-1.00	-4.07	0.05	-6.08	-9.85	-10.76	5.03	-2.06	-6.92	-4.26	2.66	4.22	-1.53	5.35	0.86	-9.99
Difference	-1.08	2.46	-0.80	0.63	1.73	0.34	0.62	2.51	3.04	-2.38	-0.02	5.15	3.22	-2.90	-1.13	2.90	-0.92	2.54	5.25
2021 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	2.60	4.69	3.50	11.17	4.53	2.38	2.07	9.23	21.43	-0.08	1.33	-2.59	-1.38	4.64	-2.56	1.41	3.40	1.98	23.84
NAV	1.30	2.19	2.26	5.86	2.98	1.80	1.21	6.10	12.32	0.65	1.50	-1.38	0.75	2.26	-1.64	2.28	2.87	3.64	16.41
Difference	-1.30	-2.49	-1.24	-5.31	-1.55	-0.58	-0.86	-3.13	-9.11	0.74	0.16	1.22	2.13	-2.39	0.92	0.86	-0.53	1.66	-7.43
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	1.44	-10.30	-29.32	-35.68	15.28	5.11	0.19	21.41	-21.91	2.71	4.11	-3.64	3.03	-1.22	13.70	4.03	16.84	20.38	-5.99
NAV	0.16	-4.81	-19.88	-23.61	10.34	2.71	0.29	13.65	-13.19	3.29	2.42	-1.40	4.32	-0.14	7.57	4.06	11.77	16.59	1.22
Difference	-1.29	5.48	9.44	12.07	-4.95	-2.40	0.09	-7.76	8.72	0.59	-1.69	2.24	1.28	1.08	-6.13	0.02	-5.07	-3.79	7.21
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	11.63	1.90	1.41	15.34	2.21	-2.42	3.87	3.60	19.50	1.61	-2.20	2.13	1.50	0.44	0.19	2.40	3.04	4.58	24.97
NAV	6.70	1.40	1.92	10.27	1.10	-1.37	2.82	2.53	13.06	0.56	-0.87	1.23	0.91	0.26	0.20	2.81	3.28	4.22	17.83
Difference	-4.93	-0.49	0.51	-5.07	-1.11	1.05	-1.05	-1.07	-6.44	-1.06	1.33	-0.90	-0.58	-0.18	0.01	0.41	0.24	-0.36	-7.14
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	1.05	-2.84	-0.61	-2.42	2.52	1.49	0.05	4.10	1.58	2.60	0.89	-1.21	2.25	-7.13	0.69	-6.11	-12.21	-10.23	-8.81
NAV	2.01	-3.24	-0.92	-2.21	1.49	1.17	-0.24	2.42	0.16	2.19	0.90	-0.15	2.95	-3.57	0.01	-3.76	-7.18	-4.44	-4.29
Difference	0.96	-0.40	-0.32	0.21	-1.03	-0.32	-0.29	-1.67	-1.42	-0.41	0.01	1.07	0.70	3.56	-0.68	2.36	5.03	5.79	4.53
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	4.56	3.30	0.79	8.85	2.73	-0.23	0.44	2.95	12.06	1.97	-0.94	1.43	2.45	-0.87	-1.20	2.13	0.03	2.49	14.85
NAV	2.31	1.85	0.63	4.86	1.08	0.49	0.71	2.30	7.27	1.65	-0.02	0.61	2.24	0.15	0.35	1.71	2.22	4.51	12.11
Difference	-2.25	-1.45	-0.15	-4.00	-1.65	0.72	0.28	-0.65	-4.79	-0.32	0.92	-0.82	-0.21	1.02	1.54	-0.42	2.18	2.02	-2.74
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-5.47	0.24	7.84	2.19	4.64	0.74	3.43	9.03	11.42	4.34	2.37	-0.17	6.63	-2.74	0.72	1.93	-0.15	6.47	18.63
NAV	-3.91	-0.74	4.48	-0.34	3.57	1.33	3.17	8.27	7.90	2.75	0.80	2.01	5.65	-1.34	-0.14	2.28	0.76	6.46	14.86
Difference	1.56	-0.97	-3.36	-2.53	-1.08	0.59	-0.26	-0.77	-3.52	-1.59	-1.57	2.18	-0.98	1.40	-0.87	0.35	0.91	-0.01	-3.76
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	0.55	3.10	-1.29	2.33	2.07	-0.84	-4.86	-3.70	-1.45	-1.93	-3.19	-5.42	-10.20	7.13	-2.06	-3.19	1.57	-8.79	-10.11
NAV	0.06	2.09	-0.37	1.77	1.82	-0.27	-2.32	-0.81	0.95	-0.29	-3.12	-4.35	-7.60	4.18	-1.71	-3.84	-1.54	-9.02	-8.16
Difference	-0.49	-1.01	0.92	-0.56	-0.25	0.57	2.53	2.89	2.40	1.64	0.07	1.07	2.60	-2.95	0.35	-0.65	-3.11	-0.23	1.96
2014 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2014
Price	1.10	3.33	0.14	4.62	2.37	2.70	2.78	8.06	13.05	-2.51	2.99	-3.85	-3.45	1.13	0.81	-3.03	-1.14	-4.55	7.90
NAV	0.67	2.68	1.40	4.81	1.55	2.08	2.72	6.47	11.59	-1.09	2.32	-2.29	-1.11	0.19	0.21	-2.15	-1.75	-2.84	8.43
Difference	-0.43	-0.66	1.25	0.19	-0.82	-0.62	-0.07	-1.58	-1.46	1.42	-0.67	1.56	2.34	-0.94	-0.60	0.89	-0.60	1.72	0.53
2013 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2013
Price	5.48	1.31	1.95	8.95	1.81	-2.32	-2.02	-2.56	6.16	0.01	-2.84	1.68	-1.20	2.98	0.23	1.53	4.79	3.53	9.92
NAV	3.58	0.52	2.00	6.20	1.83	-0.73	-2.50	-1.44	4.67	1.73	-1.82	2.46	2.34	2.50	0.42	1.50	4.47	6.91	11.90
Difference	-1.90	-0.80	0.05	-2.75	0.01	1.59	-0.48	1.12	-1.49	1.73	1.02	0.78	3.54	-0.48	0.19	-0.03	-0.32	3.38	1.99
2012 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2012
Price	8.05	3.70	-0.68	11.28	0.28	-3.41	4.01	0.75	12.12	3.03	2.85	2.39	8.50	-0.05	-0.93	0.24	-0.75	7.69	20.74
NAV	3.62	2.64	0.65	7.04	0.44	-3.63	3.89	0.56	7.64	2.46	1.53	1.30	5.38	0.53	0.01	2.79	3.34	8.89	17.22
Difference	-4.43	-1.06	1.33	-4.24	0.16	-0.22	-0.12	-0.19	-4.48	-0.57	-1.32	-1.09	-3.12	0.58	0.94	2.55	4.08	1.20	-3.53

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -1.83%	1Yr Disc -2.35%	3Yr Disc -4.63%	5Yr Disc -3.60%	Rel Disc Range (3yr) 61.95%
Mkt Yield 10.94%	Lev Adj NAV Yield 8.67%	After Tax Yield* 9.21%	Est Tax Friction* 1.73%	3Yr NAV Volatiliy 11.51
1 Yr RoC 42.73%	3 Yr Dest RoC 28.63%	Leverage 27.27%	Non Lev Exp Ratio 1.94%	Beta (2yr) 0.53
Equity Exposure 41.72%	Bond Exposure 54.96%	# Holdings 81	Cash Weighted Duration 1.26
Comp NAV TR 0.99%	Comp Discount 1.59%	Net Assets (M) 1,202	Liquidity - 90d (K) 6,455
* 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

81 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
NMAI	Nuv Multi-Asset Incm Fd	Nuveen	1.06	-8.70	13.84	77.44	29.29	442	1,468
CPZ	Calamos Lng-Srt Eq & Dyn Incm	Calamos	2.03	-8.78	10.85	0.00	26.40	333	1,145
AIO	Virtus AI & Tech Opp Fd	Virtus	1.03	-0.05	8.64	0.00	14.38	717	2,060
CSQ	Calamos Stgc Tot Rtn Fd	Calamos	1.04	-2.49	7.49	15.96	31.37	2,701	3,579
ZTR	Virtus Tot Rtn Fd	Virtus	2.05	-12.66	10.00	97.50	31.19	382	1,979
FOF	C&S CE Opp Fd	Cohen&Steers	1.03	1.17	8.61	55.67	0.00	331	554
BCAT	BR Cap Alloc Trm Tr	BlackRock	1.04	-6.41	23.39	89.82	0.00	1,636	7,084
NIE	Virtus Eq & Convt Incm Fd	Virtus	1.03	-7.74	8.97	0.00	0.00	670	1,422
CGO	Calamos Glbl Tot Rtn Fd	Calamos	1.03	-4.75	9.21	0.00	35.25	108	280
GUG	Gghm Active Alloc Fd	Guggenheim Funds	1.03	-7.77	9.38	31.98	28.04	544	1,310
PDX	PIMCO Dyn Incm Stgy Fd	PIMCO	1.04	-2.35	6.43	5.42	23.85	1,140	6,430
TBLD	Thornburg Incm Bldr Opp Tr	Thornburg Inv Mgmt	2.02	-8.86	7.03	0.00	0.00	626	1,193
CHW	Calamos Glbl Dyn Incm Fd	Calamos	1.03	-11.20	9.35	0.00	34.89	462	1,253
RIV	RiverNorth Opp Fd	RiverNorth	1.03	-2.21	12.84	84.65	34.12	262	940
SCD	LMP Cap & Incm Fd	Franklin Templeton	1.04	-5.19	8.96	7.43	18.14	291	583
GLO	Clough Glbl Opp Fd	Clough	1.03	-11.94	12.17	100.00	31.42	240	794
ECAT	BR ESG Cap Alloc Trm Tr	BlackRock	1.04	-2.56	22.81	93.47	0.00	1,628	5,644
DSL	DbLin Incm Solutions Fd	Doubleline	0.86	1.21	10.54	11.52	22.05	1,362	4,736
BIT	BR Mlt-Sctr Incm Tr	BlackRock	0.87	0.84	10.29	29.70	35.62	592	2,586
BTZ	BR Cr Alloc Incm Tr	BlackRock	0.87	-4.37	9.38	27.22	34.34	1,047	2,667
DBL	DbLin Opportunistic Cr Fd	Doubleline	0.87	1.62	8.41	27.95	14.15	281	788
BRW	Saba Cap Incm & Opp Fd	Saba Capital	0.87	-4.07	13.13	6.34	20.16	344	1,591
PAXS	PIMCO Access Incm Fd	PIMCO	0.88	5.36	11.12	12.14	36.62	689	3,150
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.87	36.41	13.95	56.97	16.94	1,907	16,209
PHK	PIMCO Hi Incm Fd	PIMCO	0.88	4.95	11.80	11.44	9.80	792	3,358
PCF	Hi Incm Sec Fd	Hi Incm Sec Fd	0.86	-5.18	10.80	34.13	0.00	204	517
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.88	6.20	11.43	11.75	7.00	655	2,238
AWF	AB Glbl Hi Incm Fd	AllianceBernstein	0.87	-4.01	7.29	0.00	15.24	968	2,497
HFRO	Highland Opp & Incm Fd	NexPoint	0.86	-58.28	8.99	0.00	15.88	681	1,680
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	0.87	6.22	11.10	6.39	35.26	1,664	8,301
RA	Brkf Real Ast Incm Fd	Brookfield	0.87	-9.78	10.74	15.54	24.24	808	2,617
NPCT	Nuv Core Plus Impact Fd	Nuveen	0.88	-7.29	13.36	58.20	34.76	332	1,742
PFL	PIMCO Incm Stgy Fd	PIMCO	0.87	6.86	11.40	25.11	14.40	355	1,335
WDI	WA Divr Incm Fd	Franklin Templeton	0.88	-2.76	12.32	0.00	32.02	771	2,528
PDI	PIMCO Dyn Incm Fd	PIMCO	0.88	17.09	13.32	24.10	30.43	6,247	44,055
FINS	Angel Oak Fin Stgs Incm Trm Tr	Angel Oak	0.87	-4.65	9.67	43.54	26.90	355	615
BHK	BR Core Bnd Tr	BlackRock	0.88	5.18	8.16	30.55	38.37	565	1,382
CLM	Cornerstone Stgc Inv Fd	Cornerstone	1.02	17.80	19.64	71.02	0.00	1,595	15,465
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.02	20.03	19.33	73.34	0.00	711	7,621
DNP	DNP Sel Incm Fd	Virtus	1.00	3.71	7.98	30.25	25.07	3,484	6,566
IAE	Voya AP Hi Div Eq Incm Fd	Voya	1.01	-12.14	12.68	78.83	0.00	76	243
GGN	GAMCO Glbl Gd NtrRes Incm	Gabelli	1.02	-0.23	8.22	73.61	11.00	683	2,214
THQ	abrdn Health Opp Fd	abrdn	1.00	1.59	10.59	47.90	20.50	830	2,936
MEGI	MainStay CBRE Glbl Infra MTrnd Trm	New York Life	1.03	-8.95	11.09	41.67	27.00	773	2,500
THW	abrdn Wld Health Fd	abrdn	0.99	2.08	12.43	67.47	20.62	437	1,939
AEF	abrdn Emrg Mkt ex-China Fd	abrdn	1.02	-13.49	12.00	94.07	11.41	235	1,316
HQH	abrdn Health Invstr	abrdn	0.99	-9.36	14.35	41.79	0.00	929	3,230
BTO	JH Fin Opp Fd	John Hancock	1.02	4.40	7.61	6.80	15.48	647	1,573
UTF	C&S Infra Fd	Cohen&Steers	1.03	4.19	7.18	12.77	29.20	2,398	5,450
ASGI	abrdn Glbl Infra Incm Fd	abrdn	1.02	-8.62	12.36	27.92	0.00	584	3,298
FSCO	FS Cr Opp Corp	FS/KKR	1.62	-2.36	10.99	0.00	34.63	1,430	5,843
XFLT	XAI Octgn Flt Rt & Alt Incm Tr	XA Investments	1.65	-2.15	15.61	5.98	39.60	458	3,500
VVR	Invsc Sr Incm Tr	Invesco	1.63	-0.53	12.13	16.39	34.36	580	3,815
JFR	Nuv Flt Rt Incm Fd	Nuveen	1.64	-3.53	12.04	7.12	34.59	1,413	10,022
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	1.61	2.80	11.57	19.65	23.71	441	2,426
SABA	Saba Cap Incm & Opp Fd II	Saba Capital	1.62	-8.64	8.03	51.56	47.56	267	848
BGT	BR Flt Rt Incm Fd	BlackRock	1.61	1.07	11.71	20.66	18.66	322	1,853
KIO	KKR Incm Opp Fd	KKR Credit	1.61	-4.38	11.93	0.00	35.15	531	3,010
DSU	BR Dbt Stgs Fd	BlackRock	1.62	0.97	11.35	20.58	14.37	558	2,516
PDT	JH Prm Div Fd	John Hancock	3.01	-5.84	7.59	7.76	35.52	682	1,415
ARCC	Ares Capital Corp	Ares	1.17	12.67	8.57	0.00	48.58	13,356	102,379
OBDC	Blue Owl Cap Corp	Blue Owl	1.17	-3.15	10.01	0.00	53.79	7,796	52,833
BXSL	Blackstone Secur Lending Fd	Blackstone	1.16	18.58	9.48	0.00	52.38	6,240	34,001
HTGC	Hercules Capital	Hercules	1.15	63.46	8.39	0.00	46.17	2,019	22,806
GBDC	Golub Capital BDC	Golub Capital	1.16	0.13	10.30	0.00	54.61	4,017	21,602
PFLT	PennantPark Flt Rt Cap	PennantPark	1.16	-2.29	11.10	0.00	57.26	997	14,566
MSDL	MS Direct Lending Fd	MS Cap Patnr Advis	1.18	-2.55	9.86	0.00	50.45	1,842	13,309
OCSL	Oaktree Splty Lending	Oaktree Capital	1.16	-13.10	10.44	0.00	51.16	1,450	11,590
CSWC	Cap Southwest Corp	Capital Southwest	1.15	32.97	10.52	0.00	51.43	839	11,780
PSEC	Prospect Capital Corp	Prospect Capital	1.14	-48.47	13.37	0.00	57.04	3,471	10,471
TYG	Tortoise Nrg Infra Corp	Tortoise	1.17	-10.62	10.05	88.95	20.00	841	4,768
EMO	CB Nrg Midstream Opp Fd	Franklin Templeton	1.19	-10.07	8.54	0.00	26.57	1,024	2,108
NML	NB Nrg Infra & Incm Fd	Neuberger Berman	1.18	-11.04	7.63	100.00	17.75	585	1,733
SRV	NXG Cushing Midstream Nrg Fd	Cushing	1.16	0.30	12.28	94.49	23.57	176	1,622
JRI	Nuv Rel-Ast Incm & Gwth Fd	Nuveen	3.15	-2.47	12.29	58.43	32.85	367	1,565
NRO	NB Rel-Est Sec Incm Fd	Neuberger Berman	3.09	-4.62	11.35	71.96	23.66	164	1,050
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Invst Mgmt	3.10	1.97	13.93	59.97	31.62	744	3,943
LDP	C&S Ltd Dur Pref & Incm Fd	Cohen&Steers	1.40	-5.89	7.69	3.44	33.10	632	1,450
JPC	Nuv Pref & Incm Opp Fd	Nuveen	1.40	-0.25	10.06	7.19	37.90	2,558	7,346
DFP	F&C Dyn Pref & Incm Fd	Flaherty & Crumrine	1.39	-8.20	6.82	0.00	37.70	453	1,028
FPF	FT Imd Dur Pref & Incm Fd	First Trust	1.38	-3.84	9.04	27.29	34.91	1,156	2,150

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.

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