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02. High Income Index

Data as of

About the Index

50% Equity focused income funds and 50% Bond/BDC focused income funds: (1) Funds need to have 90-day average trading dollar ($) liquidity over $500K. (2) Taxable Bond + Preferred Equity groupings according to CEFdata.com, ranked by top 35% current market price yield (40% of the index weighting), (3) Debt-Focused Business Development Companies (BDCs), top 35% ranked by current market price yield (10% of the index weighting). (4) US Equity, Non-US Equity, Specialty Equity and Hybrid/Balanced Funds groupings in CEFData.com with funds only included if they pay monthly or quarterly distributions without a large year-end distribution in both of the past two calendar years. This selection is then ranked by top 35% of funds by current market price yield (50% of index weighting) 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 1,659.50 -0.73 0.59 2.02 3.46 2.90 11.53 12.18 12.10 5.82 1.25 2.85 5.42
NAV 1,549.14 -0.75 -0.17 2.20 3.62 2.24 9.53 9.91 9.13 4.92 1.17 2.95 3.39
Difference -0.02 -0.76 0.18 0.16 -0.67 -1.99 -2.27 -2.97 -0.89 -0.09 0.10 -2.03
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
2025 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2025
Price 5.00 0.06 -2.44 2.50 -1.47 3.09 - - - - - - - - - - - - -
NAV 2.47 -0.22 -1.78 0.42 -0.11 1.88 - - - - - - - - - - - - -
Difference -2.52 -0.28 0.66 -2.08 1.35 -1.21 - - - - - - - - - - - - -
2024 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 2.33 1.82 3.41 7.74 -1.39 3.97 1.64 4.20 12.27 3.69 1.39 2.17 7.41 -1.43 3.54 -3.98 -2.01 5.25 18.17
NAV 0.18 1.80 2.37 4.40 -1.46 2.47 0.89 1.87 6.35 2.32 1.76 1.72 5.91 -0.76 2.61 -2.25 -0.46 5.42 12.12
Difference -2.15 -0.01 -1.04 -3.34 -0.06 -1.50 -0.75 -2.33 -5.92 -1.37 0.37 -0.45 -1.50 0.67 -0.92 1.73 1.55 0.17 -6.05
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 11.21 -1.88 -2.64 6.23 0.60 -1.70 5.17 3.99 10.47 4.35 -1.65 -4.70 -2.20 -4.96 8.41 4.36 7.53 5.17 16.18
NAV 6.02 -2.12 0.39 4.18 1.07 -1.26 3.16 2.95 7.25 2.53 -1.00 -3.04 -1.58 -2.06 5.82 4.19 7.98 6.28 13.99
Difference -5.19 -0.24 3.04 -2.05 0.47 0.44 -2.01 -1.05 -3.22 -1.82 0.65 1.66 0.62 2.90 -2.59 -0.17 0.45 1.11 -2.19
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -1.69 -2.49 1.60 -2.60 -6.25 -1.07 -7.60 -14.30 -16.53 8.50 -1.58 -13.08 -7.19 6.10 5.91 -6.75 4.79 -2.74 -18.82
NAV -2.02 -1.17 1.02 -2.18 -4.70 -0.80 -6.64 -11.75 -13.67 5.69 -2.40 -6.68 -3.74 3.13 4.52 -3.17 4.38 0.47 -13.27
Difference -0.33 1.31 -0.58 0.42 1.55 0.27 0.96 2.55 2.85 -2.81 -0.81 6.39 3.45 -2.98 -1.38 3.58 -0.41 3.22 5.55
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 3.07 5.52 4.49 13.65 4.37 2.56 1.93 9.10 24.00 0.24 1.82 -2.85 -0.85 3.98 -2.28 0.60 2.22 1.36 25.68
NAV 1.27 2.22 2.25 5.85 2.91 1.88 1.09 5.98 12.19 0.39 1.40 -1.62 0.15 2.28 -2.07 2.10 2.26 2.41 14.89
Difference -1.80 -3.30 -2.24 -7.79 -1.46 -0.68 -0.84 -3.12 -11.81 0.15 -0.42 1.24 1.00 -1.70 0.20 1.49 0.04 1.05 -10.78
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price -0.12 -10.78 -34.96 -42.04 21.51 6.53 -1.22 27.86 -25.90 2.19 3.50 -3.28 2.30 -1.47 16.90 3.83 19.59 22.34 -9.34
NAV -1.37 -6.57 -26.08 -31.89 15.62 4.34 0.44 21.17 -17.46 3.59 2.39 -2.11 3.83 0.35 9.24 3.67 13.64 18.00 -2.61
Difference -1.25 4.21 8.88 10.15 -5.89 -2.19 1.67 -6.68 8.43 1.40 -1.11 1.17 1.53 1.82 -7.66 -0.16 -5.95 -4.34 6.73
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 14.98 1.62 1.73 18.85 1.82 -3.40 4.02 2.32 21.61 1.41 -4.11 1.96 -0.84 -0.62 -0.23 3.79 2.91 2.04 24.09
NAV 8.73 1.35 2.01 12.41 1.06 -2.34 3.08 1.74 14.37 -0.10 -2.38 1.20 -1.31 -0.50 -0.41 4.02 3.08 1.73 16.35
Difference -6.25 -0.27 0.29 -6.44 -0.76 1.06 -0.94 -0.58 -7.24 -1.51 1.73 -0.76 -0.46 0.13 -0.18 0.22 0.17 -0.31 -7.74
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 2.43 -4.30 -1.81 -3.75 4.21 2.23 -0.35 6.15 2.17 3.05 1.41 -1.22 3.23 -8.13 0.45 -10.41 -17.31 -14.65 -12.79
NAV 2.81 -4.45 -1.76 -3.49 2.81 1.96 -0.13 4.68 1.03 3.05 0.68 -0.29 3.45 -4.66 0.10 -6.62 -10.89 -7.82 -6.87
Difference 0.38 -0.15 0.06 0.26 -1.40 -0.27 0.22 -1.47 -1.15 0.00 -0.73 0.93 0.22 3.46 -0.36 3.79 6.42 6.83 5.92
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.65 3.04 0.58 8.46 2.68 0.61 0.13 3.45 12.20 2.40 -1.83 2.40 2.94 -2.28 -1.67 3.21 -0.82 2.09 14.55
NAV 2.10 1.90 0.21 4.26 1.12 0.50 0.50 2.14 6.49 1.77 -0.59 1.45 2.64 -0.47 0.18 2.31 2.01 4.70 11.49
Difference -2.55 -1.14 -0.37 -4.20 -1.56 -0.11 0.37 -1.31 -5.71 -0.63 1.24 -0.95 -0.31 1.81 1.84 -0.90 2.83 2.60 -3.06
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -7.98 0.29 10.04 1.55 8.55 1.42 3.32 13.75 15.52 4.99 2.08 0.57 7.78 -2.49 1.07 1.81 0.34 8.15 24.93
NAV -7.03 -0.67 7.13 -1.07 7.12 1.92 2.50 11.91 10.70 2.84 1.52 1.73 6.21 -1.07 0.64 2.00 1.55 7.86 19.40
Difference 0.95 -0.97 -2.91 -2.63 -1.42 0.50 -0.82 -1.84 -4.81 -2.15 -0.56 1.17 -1.58 1.41 -0.42 0.19 1.21 -0.29 -5.53
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price 0.75 4.19 -1.61 3.28 2.55 -0.88 -4.38 -2.80 0.39 -3.34 -4.33 -5.75 -12.84 8.36 -3.53 -4.80 -0.49 -13.27 -12.93
NAV -0.18 3.07 -1.02 1.84 2.60 0.15 -2.12 0.58 2.43 -1.11 -3.79 -4.14 -8.80 5.62 -3.04 -5.73 -3.46 -11.95 -9.81
Difference -0.93 -1.12 0.59 -1.44 0.05 1.02 2.26 3.37 2.04 2.23 0.54 1.61 4.04 -2.73 0.49 -0.92 -2.96 1.32 3.12
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price 0.42 3.75 0.23 4.43 1.61 2.44 2.06 6.25 10.96 -2.33 2.44 -4.27 -4.23 -0.06 -0.64 -5.93 -6.59 -10.54 -0.73
NAV -0.08 2.99 0.70 3.63 1.19 1.52 1.74 4.51 8.30 -1.13 1.83 -2.90 -2.24 -0.23 -0.83 -3.06 -4.08 -6.23 1.55
Difference -0.50 -0.76 0.46 -0.81 -0.43 -0.93 -0.33 -1.74 -2.66 1.21 -0.61 1.37 1.99 -0.17 -0.18 2.87 2.51 4.31 2.29
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 6.78 0.51 1.72 9.18 1.21 -1.76 -2.39 -2.96 5.95 1.14 -2.83 2.55 0.78 3.01 -1.11 1.19 3.08 3.89 10.07
NAV 3.64 -0.09 1.47 5.07 1.72 -0.41 -2.71 -1.44 3.55 2.71 -1.44 2.68 3.95 2.35 0.35 0.62 3.34 7.42 11.23
Difference -3.14 -0.61 -0.25 -4.11 0.51 1.36 -0.32 1.51 -2.40 1.58 1.39 0.13 3.16 -0.66 1.46 -0.57 0.26 3.53 1.16
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 8.54 3.57 -0.37 12.00 0.07 -5.11 3.45 -1.77 10.01 3.19 2.80 2.50 8.74 -1.57 -1.65 0.06 -3.13 5.34 15.88
NAV 4.29 3.06 0.38 7.88 0.15 -4.81 2.86 -1.93 5.80 2.07 1.88 2.38 6.46 0.17 0.21 1.42 1.81 8.39 14.68
Difference -4.25 -0.52 0.75 -4.11 0.08 0.31 -0.59 -0.16 -4.21 -1.13 -0.92 -0.12 -2.28 1.74 1.86 1.36 4.94 3.06 -1.20

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-2.50%
1Yr Disc
-2.81%
3Yr Disc
-5.01%
5Yr Disc
-4.17%
Rel Disc Range (3yr)
62.21%
Mkt Yield
13.45%
Lev Adj NAV Yield
10.91%
After Tax Yield*
11.49%
Est Tax Friction*
1.96%
3Yr NAV Volatiliy
12.90
1 Yr RoC
52.57%
3 Yr Dest RoC
21.80%
Leverage
23.00%
Non Lev Exp Ratio
2.18%
Beta (2yr)
0.64
Equity Exposure
52.23%
Bond Exposure
44.76%
# Holdings
88
Cash Weighted Duration
1.43
Comp NAV TR
-1.05%
Comp Discount
0.68%
Net Assets (M)
705
Liquidity - 90d (K)
3,859
* 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


88 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
OXLC Oxford Lane Cap Corp Oxford Lane 1.04 3.55 24.71 0.00 26.41 909 28,237
OCCI OFS Credit Company OFS Capital 1.16 0.48 21.87 0.00 37.45 163 2,392
ECC Eagle Point Cr Co Eagle Point 1.04 2.31 22.34 3.15 38.23 909 11,041
CCIF Carlyle Cr Incm Fd Carlyle Glbl Cr Inv Mgmt 1.07 -0.61 19.35 0.00 38.24 138 1,318
EIC Eagle Point Incm Co Eagle Point 0.97 -7.43 11.93 0.00 26.68 380 4,270
ACP abrdn Incm Cr Stgs Fd abrdn 1.11 -3.27 15.74 37.36 28.18 767 4,052
XFLT XAI Octgn Flt Rt & Alt Incm Tr XA Investments 1.08 -6.26 14.76 0.00 37.89 462 2,595
SPMC Sound Point Meridian Cap Sound Point Meridian Mgmt Co 0.99 -3.84 16.87 0.00 24.50 381 485
EDF Virtus SH Emrg Mkt Incm Fd Virtus 1.10 6.82 14.37 38.69 24.23 138 656
NHS NB Hi Yld Stgs Fd Neuberger Berman 1.12 1.98 14.09 47.98 23.50 227 1,141
HIX WA Hi Incm Fd II Franklin Templeton 1.13 -2.31 13.90 14.83 32.38 390 1,746
GOF Gghm Stgc Opp Fd Guggenheim Funds 1.04 29.01 14.94 58.88 15.68 2,005 16,389
EDD MS Emrg Mkt Dom Dbt Morgan Stanley 1.20 -7.50 12.65 0.00 10.55 353 1,332
PDI PIMCO Dyn Incm Fd PIMCO 1.06 12.02 14.13 20.40 35.03 6,430 44,199
NPCT Nuv Core Plus Impact Fd Nuveen 1.11 -4.50 12.16 56.01 36.05 319 2,156
OPP RiverNorth DbLin Stgc Opp Fd RiverNorth 1.07 -5.98 13.69 24.68 36.30 211 761
DMO WA Mortg Opp Fd Franklin Templeton 1.12 -0.50 13.14 15.65 46.65 136 719
BRW Saba Cap Incm & Opp Fd Saba Capital 1.12 -6.56 13.01 25.07 16.35 357 1,161
EHI WA Glbl Hi Incm Fd Franklin Templeton 1.09 -4.16 13.02 15.80 29.51 204 501
NCV Virtus Convt & Incm Fd Virtus 1.16 -8.99 12.04 84.07 37.32 337 1,177
FAX abrdn Asia-Pacific Incm Fd abrdn 1.12 -4.80 12.47 44.21 38.19 689 2,203
NCZ Virtus Convt & Incm Fd II Virtus 1.16 -8.63 11.82 84.57 38.14 254 824
WDI WA Divr Incm Fd Franklin Templeton 1.14 0.34 12.02 0.00 32.30 765 2,905
AVK Advent Convt & Incm Fd Guggenheim Funds 1.13 -2.23 11.86 70.09 39.17 536 1,734
VVR Invsc Sr Incm Tr Invesco 1.11 0.00 12.13 12.05 33.82 577 3,571
JQC Nuv Cr Stgs Incm Fd Nuveen 1.10 -5.17 12.18 16.15 39.24 761 6,459
JFR Nuv Flt Rt Incm Fd Nuveen 1.09 -5.49 12.33 10.56 35.31 1,408 5,569
CHI Calamos Convt Opp & Incm Calamos 1.16 4.44 11.26 48.77 35.95 752 2,872
CHY Calamos Convt & Hi Incm Fd Calamos 1.14 2.24 11.45 49.35 36.23 814 2,846
KIO KKR Incm Opp Fd KKR Credit 1.10 -3.40 11.92 0.00 29.41 517 2,529
PHK PIMCO Hi Incm Fd PIMCO 1.09 4.38 12.08 11.05 7.80 789 3,351
BGT BR Flt Rt Incm Fd BlackRock 1.12 4.64 11.44 27.16 18.31 327 1,585
FRA BR Flt Rt Incm Stgc Fd BlackRock 1.10 4.53 11.50 26.45 22.97 437 1,755
BWG BwGlobal Glbl Incm Opp Fd Franklin Templeton 1.08 -9.45 11.79 31.87 40.12 151 659
FCT FT Sr Flt Rt Incm Fd II First Trust 1.07 -5.90 11.78 14.91 13.59 273 1,100
PFN PIMCO Incm Stgy Fd II PIMCO 1.07 3.42 11.87 10.66 16.86 658 2,361
TPVG TP Vntr Gwth BDC Corp TriplePoint Capital 0.59 -16.36 16.64 0.00 51.49 347 2,200
OXSQ Oxford Square Cap Corp Oxford Lane 0.51 9.09 18.42 0.00 43.35 149 1,164
WHF WhiteHorse Finance H.I.G. Capital 0.57 -23.70 16.67 0.00 53.20 281 793
ICMB Investcorp Cr Mgmt BDC Investcorp 0.53 -47.79 16.96 0.00 58.28 78 134
OFS OFS Capital Corp OFS Capital 0.55 -24.90 15.13 0.00 59.86 160 487
GECC Great Elm Cap Corp Great Elm Capital 0.62 -3.58 13.39 0.00 57.60 132 258
HRZN Horizon Tech Fin Corp Horizon Tech Fin 0.48 -0.53 17.53 0.00 59.65 305 3,529
CION CION Inv Corp CION Inv Mgmt 0.52 -36.55 15.89 0.00 64.19 752 3,476
FSEN FS Splty Lending Fd FS/EIG Advisor 0.65 -29.38 12.66 0.00 40.65 1,535 13
PNNT PennantPark Inv Corp PennantPark 0.57 -9.63 14.20 0.00 49.61 488 3,474
TRIN Trinity Capital Trinity Capital 0.57 10.73 14.12 0.00 51.63 844 8,875
PSEC Prospect Capital Corp Prospect Capital 0.47 -54.62 16.41 0.00 52.32 3,274 10,936
PTMN Portman Ridge Fin Corpn Sierra Crest Inv Mgmt 0.48 -38.67 16.26 0.00 57.74 173 640
MRCC Monroe Capital Corp Monroe Capital 0.49 -22.48 14.95 0.00 58.76 187 577
RWAY Runway Gwth Fin Corp Runway Gwth Cap 0.60 -25.67 13.17 0.00 47.65 503 4,031
TCPC BR TCP Capital Corp BlackRock 0.56 -15.36 12.87 0.00 58.25 781 4,719
FSK FS KKR Capital Corp FS/KKR 0.60 -9.41 12.09 0.00 53.70 6,545 38,779
BCAT BR Cap Alloc Trm Tr BlackRock 1.48 -4.22 22.65 84.45 0.00 1,612 7,978
ECAT BR ESG Cap Alloc Trm Tr BlackRock 1.44 -3.01 22.57 89.77 0.00 1,615 4,933
CLM Cornerstone Stgc Inv Fd Cornerstone 1.54 19.70 18.45 60.63 0.00 1,876 17,084
CRF Cornerstone Tot Rtn Fd Cornerstone 1.52 18.17 18.42 70.18 0.00 768 10,018
BTX BR Tech & Pvt Eq Trm Tr BlackRock 1.61 -2.21 13.66 100.00 0.00 1,547 4,685
BSTZ BR Sci & Tech Trm Tr BlackRock 1.56 -8.58 13.48 34.00 0.00 1,458 4,598
HQL abrdn Life Sci Invstr abrdn 1.41 -9.76 13.39 30.57 0.00 411 1,481
AOD abrdn Tot Dyn Div Fd abrdn 1.47 -9.13 12.47 47.18 2.46 1,005 4,332
BMEZ BR Health Sci Trm Tr BlackRock 1.38 -5.38 14.08 99.87 0.00 952 4,398
HQH abrdn Health Invstr abrdn 1.34 -8.97 13.83 49.59 0.00 924 3,355
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 1.42 3.00 13.98 45.72 31.53 750 2,985
NMAI Nuv Multi-Asset Incm Fd Nuveen 1.47 -9.02 12.28 74.84 29.18 452 1,222
NXG NXG NextGen Infra Incm Fd Cushing 1.51 3.90 12.99 100.00 29.11 182 2,052
AGD abrdn Glbl Dyn Div Fd abrdn 1.51 -3.63 12.44 44.34 4.17 274 1,327
RIV RiverNorth Opp Fd RiverNorth 1.45 -2.82 12.73 56.55 31.41 266 837
HGLB Highland Glbl Alloc Fd NexPoint 1.52 -25.91 11.84 0.00 3.30 279 712
ASGI abrdn Glbl Infra Incm Fd abrdn 1.54 -5.41 12.64 29.27 0.00 610 3,208
JRI Nuv Rel-Ast Incm & Gwth Fd Nuveen 1.44 -3.06 12.33 55.81 32.05 367 1,586
AWP abrdn Glbl Prmr Prop Fd abrdn 1.44 2.33 12.15 78.74 11.82 334 1,198
GLO Clough Glbl Opp Fd Clough 1.53 -10.66 11.39 100.00 29.00 253 825
SRV NXG Cushing Midstream Nrg Fd Cushing 1.38 0.16 12.65 94.49 29.44 188 1,505
THW abrdn Wld Health Fd abrdn 1.32 1.04 13.10 63.43 22.08 423 1,531
AEF abrdn Emrg Mkt ex-China Fd abrdn 1.59 -11.94 10.56 97.41 10.97 262 943
IFN India Fund abrdn 1.40 -5.29 10.30 0.00 0.00 671 2,488
LGI Lzrd Glbl Tot Rtn & Incm Fd Lazard 1.50 -6.20 10.76 31.18 31.31 227 1,096
NRO NB Rel-Est Sec Incm Fd Neuberger Berman 1.38 -3.30 11.63 58.25 24.31 211 757
IDE Voya Infra Ind & Matrls Fd Voya 1.53 -3.39 10.52 26.92 0.00 179 600
MEGI MainStay CBRE Glbl Infra MTrnd Trm New York Life 1.51 -7.25 10.57 41.67 25.40 796 2,076
GUT Gabelli Util Tr Gabelli 1.50 84.36 10.60 94.82 15.00 270 1,291
CPZ Calamos Lng-Srt Eq & Dyn Incm Calamos 1.46 -7.55 10.48 0.00 26.04 340 1,104
THQ abrdn Health Opp Fd abrdn 1.27 2.66 11.65 54.85 22.60 747 2,691
IGD Voya Glbl Eq Div & Prm Opp Voya 1.41 -5.12 10.43 78.00 0.00 478 1,179
IGA Voya Glbl Adv & Prm Opp Fd Voya 1.44 -2.73 10.21 35.39 0.00 158 752
USA Liberty All-Star Eq Fd ALPS 1.45 -1.62 8.97 0.00 0.00 2,004 5,550
TYG Tortoise Nrg Infra Corp Tortoise 1.40 -7.40 10.26 82.58 19.20 795 3,149

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 %