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

07. Taxable Bond & BDC Index

Data as of 07/06/2022 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	1,231.00	-0.59	1.81	-5.11	-11.53	-17.34	-18.87	0.20	2.53	4.19	0.65	0.65	-18.15
NAV	1,203.55	-0.34	0.29	-5.15	-9.69	-13.73	-13.35	0.06	2.53	4.50	0.12	0.12	-14.21
Difference		0.25	-1.52	-0.04	1.83	3.61	5.52	-0.14	-0.00	0.30	-0.53	-0.53	3.94
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00

2022 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	-4.25	-3.06	-0.45	-7.60	-5.50	-1.32	-5.63	-11.99	-18.68	-	-	-	-	-	-	-	-	-	-
NAV	-2.11	-1.73	-1.05	-4.82	-3.82	-1.25	-5.21	-9.97	-14.31	-	-	-	-	-	-	-	-	-	-
Difference	2.14	1.33	-0.60	2.78	1.67	0.07	0.41	2.01	4.37	-	-	-	-	-	-	-	-	-	-
2021 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	0.40	1.61	2.12	4.18	2.87	2.32	1.51	6.85	11.32	0.94	0.67	-2.18	-0.61	2.27	-2.03	0.30	0.50	-0.11	11.19
NAV	0.84	0.29	-0.35	0.78	1.78	0.96	1.05	3.84	4.65	0.62	0.84	-0.61	0.85	0.33	-1.00	1.17	0.50	1.35	6.06
Difference	0.44	-1.32	-2.47	-3.40	-1.09	-1.36	-0.46	-3.01	-6.67	-0.31	0.17	1.57	1.45	-1.94	1.04	0.87	-0.00	1.46	-5.13
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	1.75	-6.93	-19.29	-23.58	8.18	6.27	1.77	16.99	-10.59	4.10	1.74	-1.74	4.07	-0.92	9.86	3.17	12.30	16.87	4.49
NAV	1.23	-1.20	-16.32	-16.31	5.10	3.68	2.77	11.99	-6.28	3.65	1.99	-0.55	5.13	0.17	5.17	2.60	8.08	13.62	6.49
Difference	-0.52	5.73	2.97	7.26	-3.08	-2.58	1.00	-5.00	4.31	-0.45	0.25	1.18	1.06	1.09	-4.69	-0.57	-4.22	-3.24	2.00
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	8.77	2.17	0.80	12.02	1.75	-0.72	3.21	4.25	16.79	1.93	-0.77	1.29	2.45	0.96	0.78	2.23	4.02	6.57	24.46
NAV	4.22	1.21	0.93	6.46	1.28	-0.10	2.30	3.51	10.19	1.00	-0.28	0.38	1.10	0.59	0.29	1.98	2.88	4.01	14.62
Difference	-4.55	-0.96	0.13	-5.57	-0.46	0.63	-0.91	-0.74	-6.59	-0.93	0.49	-0.91	-1.36	-0.37	-0.49	-0.24	-1.13	-2.56	-9.85
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	-0.16	-1.29	0.62	-0.84	0.80	0.31	-0.15	0.96	0.11	1.98	0.88	-0.82	2.03	-5.03	-0.47	-2.97	-8.28	-6.42	-6.32
NAV	0.93	-0.88	0.15	0.19	0.04	-0.23	-0.10	-0.28	-0.09	1.34	-0.08	0.52	1.78	-1.64	-0.61	-1.48	-3.69	-1.98	-2.06
Difference	1.09	0.41	-0.46	1.04	-0.76	-0.54	0.05	-1.24	-0.19	-0.65	-0.96	1.34	-0.25	3.38	-0.13	1.48	4.59	4.45	4.26
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	2.86	2.17	-0.32	4.75	2.20	0.62	0.83	3.68	8.61	2.09	-0.63	0.97	2.44	-0.45	-1.08	1.33	-0.21	2.22	11.02
NAV	1.42	1.61	0.25	3.32	1.28	0.96	0.57	2.84	6.25	1.39	0.67	0.54	2.61	0.65	0.24	0.59	1.49	4.14	10.65
Difference	-1.43	-0.55	0.57	-1.43	-0.92	0.34	-0.25	-0.85	-2.36	-0.70	1.29	-0.43	0.18	1.09	1.32	-0.74	1.70	1.92	-0.37
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-1.47	0.44	6.33	5.23	2.79	0.55	2.43	5.86	11.39	4.38	1.82	-0.67	5.58	-1.82	-1.42	2.74	-0.57	4.97	16.93
NAV	-0.98	-0.69	3.41	1.69	2.45	0.54	1.27	4.31	6.07	2.61	1.17	0.85	4.70	0.16	-1.74	1.33	-0.27	4.42	10.77
Difference	0.50	-1.13	-2.92	-3.53	-0.34	-0.01	-1.16	-1.55	-5.32	-1.77	-0.65	1.52	-0.88	1.99	-0.31	-1.41	0.31	-0.55	-6.16
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	1.59	1.51	-0.71	2.39	1.77	-1.19	-3.77	-3.23	-0.92	-1.43	-2.33	-2.65	-6.29	4.69	-0.98	-0.73	2.90	-3.57	-4.46
NAV	1.08	1.14	-0.25	1.98	1.20	0.07	-1.28	-0.02	1.96	-0.15	-1.63	-1.73	-3.48	1.77	-0.48	-2.07	-0.82	-4.28	-2.40
Difference	-0.51	-0.37	0.46	-0.41	-0.57	1.26	2.50	3.21	2.88	1.28	0.70	0.92	2.80	-2.92	0.50	-1.34	-3.72	-0.71	2.06
2014 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2014
Price	1.98	2.92	0.23	5.20	2.06	1.69	1.52	5.37	10.85	-2.51	1.76	-3.18	-3.95	1.08	0.29	-2.48	-1.14	-5.04	5.26
NAV	1.69	1.85	0.86	4.47	1.23	1.77	0.91	3.96	8.60	-0.27	1.17	-1.94	-1.07	0.90	0.12	-2.04	-1.04	-2.10	6.32
Difference	-0.29	-1.07	0.63	-0.74	-0.84	0.07	-0.61	-1.41	-2.25	2.24	-0.59	1.24	2.88	-0.19	-0.17	0.44	0.10	2.95	1.06
2013 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2013
Price	3.36	1.06	0.36	4.83	1.70	-4.89	-3.10	-6.27	-1.74	-1.04	-2.42	2.06	-1.44	2.38	-1.53	0.76	1.58	0.12	-1.63
NAV	1.86	0.47	0.84	3.20	1.97	-1.28	-3.32	-2.68	0.44	1.20	-1.18	1.61	1.61	2.04	0.01	-0.24	1.81	3.45	3.90
Difference	-1.51	-0.59	0.49	-1.63	0.27	3.61	-0.22	3.59	2.18	2.23	1.24	-0.45	3.06	-0.34	1.54	-1.00	0.22	3.33	5.53
2012 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2012
Price	5.95	2.17	-0.50	7.71	1.27	-1.32	2.95	2.88	10.81	3.40	1.88	1.62	7.05	-0.09	0.12	0.14	0.16	7.22	18.81
NAV	3.52	2.17	0.22	6.00	1.10	-1.25	1.58	1.42	7.50	2.54	1.31	1.96	5.92	1.06	0.74	1.03	2.85	8.94	17.11
Difference	-2.43	0.00	0.72	-1.71	-0.18	0.08	-1.36	-1.46	-3.30	-0.86	-0.57	0.34	-1.13	1.15	0.63	0.89	2.69	1.71	-1.70

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -3.46%	1Yr Disc -0.04%	3Yr Disc -1.55%	5Yr Disc -2.26%	Rel Disc Range (3yr) 61.80%
Mkt Yield 9.60%	Lev Adj NAV Yield 6.94%	After Tax Yield* 7.70%	Est Tax Friction* 1.90%	3Yr NAV Volatiliy 10.83
1 Yr RoC 24.49%	3 Yr Dest RoC 24.61%	Leverage 34.60%	Non Lev Exp Ratio 1.48%	Beta (2yr) 0.66
Equity Exposure 3.78%	Bond Exposure 93.67%	# Holdings 80	Cash Weighted Duration 4.51
Comp NAV TR -0.23%	Comp Discount 1.10%	Net Assets (M) 799	Liquidity - 90d (K) 3,359
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

80 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
BBN	BR Taxable Muni BndTr	BlackRock	3.75	-2.74	7.85	3.06	34.23	1,177	5,252
NBB	Nuv Taxable Muni Incm Fd	Nuveen	3.86	-0.78	7.29	0.00	41.63	516	1,794
CHI	Calamos Convt Opp & Incm	Calamos	2.00	8.08	10.15	0.00	37.66	755	2,307
CHY	Calamos Convt & Hi Incm Fd	Calamos	1.92	2.93	10.67	0.00	37.67	812	2,261
CCD	Calamos Dyn Convt & Incm Fd	Calamos	1.94	6.30	10.75	0.00	37.64	516	2,106
NCZ	Virtus Convt & Incm Fd II	Virtus	1.84	-14.08	14.75	80.77	42.79	270	1,888
EMD	WA Emrg Mkt Dbt Fd	Franklin Templeton	3.81	-12.17	11.00	33.03	32.90	599	2,070
EDD	MS Emrg Mkt Dom Dbt	Morgan Stanley	3.73	-13.10	6.39	17.40	24.04	333	967
FAX	abrdn Asia-Pacific Incm Fd	abrdn	1.43	-18.21	12.04	43.95	34.88	830	2,578
MIN	MFS Imd Incm Tr	MFS	1.55	-5.35	8.99	72.23	0.00	369	1,416
GIM	Tmp Glbl Incm Fd	Franklin Templeton	1.54	-4.91	9.49	50.49	0.00	481	899
PPT	Putnam Prmr Incm Tr	Putnam	1.58	-4.88	8.00	36.12	0.00	419	884
RCS	PIMCO Stgc Incm Fd	PIMCO	1.55	10.52	11.88	3.16	49.32	209	725
HYT	BR Corp Hi Yld Fd	BlackRock	0.69	-0.11	9.85	12.49	28.25	1,161	3,798
DLY	DbLin Yld Opp Fd	Doubleline	0.70	-10.95	9.73	3.95	24.78	775	2,453
FTHY	FT Hi Yld Opp 2027 Trm Fd	First Trust	0.69	-8.68	11.18	11.63	30.12	581	1,973
DSU	BR Dbt Stgs Fd	BlackRock	0.70	-10.03	7.93	14.70	31.63	474	1,591
HIX	WA Hi Incm Fd II	Franklin Templeton	0.71	-2.54	11.78	5.43	32.90	332	1,549
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.68	-10.36	11.20	15.90	18.79	514	1,374
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.69	-10.69	10.33	13.03	24.88	454	1,264
NHS	NB Hi Yld Stgs Fd	Neuberger Berman	0.69	-3.81	13.02	30.87	36.60	169	1,271
FSD	FT Hi Incm Lng/Srt Fd	First Trust	0.69	-10.64	11.11	31.60	29.70	425	1,079
SDHY	PGIM Srt Dur Hi Yld Opp Fd	Prudential	0.70	-10.31	8.61	11.25	24.05	414	1,091
KIO	KKR Incm Opp Fd	KKR Credit	0.70	-10.31	10.81	0.00	37.83	264	1,036
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	4.01	16.71	10.97	4.32	46.86	980	6,005
PCN	PIMCO Corp & Incm Stgy Fd	PIMCO	3.97	12.64	10.38	1.80	38.88	503	1,598
EVV	EV Ltd Dur Incm Fd	Eaton Vance	2.56	-3.80	11.55	39.76	38.10	1,255	3,552
BLW	BR Ltd Dur Incm Tr	BlackRock	2.55	-6.15	9.29	12.56	37.53	482	1,477
FTF	FrkTmp Ltd Dur Incm Tr	Franklin Templeton	2.52	-8.10	11.55	25.86	29.59	294	1,196
VVR	Invsc Sr Incm Tr	Invesco	0.75	-8.65	8.21	3.78	29.00	637	3,250
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.77	-11.54	9.67	42.58	37.78	799	2,724
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	0.77	-7.10	6.95	16.40	31.50	437	1,866
JFR	Nuv Flt Rt Incm Fd	Nuveen	0.77	-8.49	9.54	11.46	36.87	516	1,705
EFR	EV Sr Flt-Rt Tr	Eaton Vance	0.76	-1.46	8.04	12.57	35.98	348	1,561
EFT	EV Flt-Rt Incm Tr	Eaton Vance	0.76	-6.63	7.96	7.77	36.90	362	1,504
JRO	Nuv Flt Rt Incm Opp Fd	Nuveen	0.78	-8.34	9.54	7.45	37.04	364	1,475
BGB	Blackstone Stgc Cr Fd	Blackstone	0.76	-10.77	7.24	0.00	36.87	556	1,319
XFLT	XAI Octgn Flt Rt & Alt Incm Trm	XA Investments	0.80	10.17	12.07	15.34	39.59	220	1,370
FCT	FT Sr Flt Rt Incm Fd II	First Trust	0.76	-7.22	8.73	44.04	28.71	277	1,124
OPP	RiverNorth DbLin Stgc Opp Fd	RiverNorth	3.90	-1.60	15.98	62.20	32.40	219	1,602
BKT	BR Incm Tr	BlackRock	3.90	-5.12	7.62	31.88	31.37	312	1,397
PDI	PIMCO Dyn Incm Fd	PIMCO	0.79	8.48	12.46	0.00	46.45	4,405	20,799
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.76	19.42	13.61	49.65	24.03	1,408	9,042
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	0.81	-5.12	10.61	0.00	46.96	1,677	7,612
RA	Brkf Real Ast Incm Fd	Brookfield	0.76	10.68	12.95	51.26	29.14	869	4,955
DSL	DbLin Incm Solutions Fd	Doubleline	0.77	-6.61	10.74	0.00	27.88	1,342	4,773
BTZ	BR Cr Alloc Incm Tr	BlackRock	0.76	-6.86	9.26	14.79	31.29	1,091	3,407
HFRO	Highland Incm Fd	Highland Capital	0.77	-26.27	8.19	38.13	13.84	1,040	2,520
BHK	BR Core Bnd Tr	BlackRock	0.78	-2.44	7.72	0.00	39.03	642	2,543
WDI	WA Divr Incm Fd	Franklin Templeton	0.76	-11.54	10.55	2.72	27.90	799	2,300
PHK	PIMCO Hi Incm Fd	PIMCO	0.77	8.90	11.21	2.01	33.52	638	2,255
JPS	Nuv Pref & Incm Sec Fd	Nuveen	1.11	-6.65	7.15	0.00	37.39	1,609	4,995
PTA	Tx-Adv Pref Sec Pref Sec & Incm Fd	Cohen&Steers	1.09	-8.83	8.21	14.94	34.40	1,152	3,573
JPC	Nuv Pref & Incm Opp Fd	Nuveen	1.11	-3.88	8.27	0.00	36.93	841	2,660
FPF	FT Imd Dur Pref & Incm Fd	First Trust	1.09	-4.22	8.22	1.70	32.09	1,182	2,562
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	1.10	1.08	8.48	0.00	36.90	796	2,167
LDP	C&S Ltd Dur Pref & Incm Fd	Cohen&Steers	1.09	-6.19	8.23	6.70	31.30	609	1,762
DFP	F&C Dyn Pref & Incm Fd	Flaherty & Crumrine	1.04	-4.51	8.79	0.00	36.60	442	1,653
WIW	WA Inf-Lnk Opp & Incm Fd	Franklin Templeton	3.76	-11.31	6.38	0.00	33.40	714	1,675
WIA	WA Inf-Lnk Incm Fd	Franklin Templeton	3.90	-10.73	5.41	0.00	35.80	261	672
ARCC	Ares Capital Corp	Ares	0.40	-1.94	9.00	0.00	51.81	9,378	68,954
ORCC	Owl Rock Capital Corp	Owl Rock	0.39	-15.79	9.90	0.00	53.27	5,871	34,765
FSK	FS KKR Capital Corp	FS/KKR	0.42	-24.92	13.26	0.00	52.15	7,762	30,484
HTGC	Hercules Capital	Hercules	0.39	27.82	9.54	0.00	49.19	1,340	21,040
MAIN	Main Street Cap Corp	Main Street Capital	0.39	51.83	6.56	0.00	47.99	1,889	16,125
GBDC	Golub Capital BDC	Golub Capital	0.39	-14.14	9.10	0.00	53.00	2,623	14,986
PSEC	Prospect Capital Corp	Prospect Capital	0.40	-33.12	9.96	1.32	42.07	4,239	13,512
BXSL	Blackstone Secur Lending Fd	Blackstone Cr BDC Advis	0.36	-15.38	9.59	0.00	54.57	4,429	9,538
GSBD	Goldman Sachs BDC	Goldman Sachs	0.38	5.32	10.82	0.00	52.64	1,611	8,345
OCSL	Oaktree Splty Lending	Oaktree Capital	0.39	-8.40	9.92	0.00	49.47	1,331	8,261
BBDC	Barings BDC	Barings	0.39	-20.57	10.19	2.79	51.77	1,317	6,834
TSLX	Sixth St Splty Lending	Sixth St Splty Lending	0.39	10.84	8.77	0.00	45.01	1,288	6,850
NMFC	New Mountain Fin Corp	New Mountain Capital	0.39	-10.18	9.85	2.73	58.32	1,366	5,242
SLRC	SLR Inv Corp	SLR Capital	0.39	-23.57	10.97	20.33	36.22	1,071	4,913
PFLT	PennantPark Flt Rt Cap	PennantPark	0.40	-6.10	9.62	0.00	57.92	521	3,789
AINV	Apollo Inv Corp	Apollo	0.39	-30.21	11.25	0.00	59.82	1,003	3,774
CSWC	Cap Southwest Corp	Capital Southwest	0.39	10.14	10.34	0.00	54.27	421	3,779
NEWT	Newtek Biz Serv Corp	Newtek	0.40	19.04	15.28	0.00	45.43	398	3,721
CGBD	TCG BDC	Carlyle	0.39	-24.08	9.85	0.00	52.68	898	3,529
TCPC	BR TCP Capital Corp	BlackRock	0.39	-10.79	9.43	19.57	55.34	824	3,506

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.