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04. 60/40 Balanced (w/ BDCs) Index

Data as of 07/17/2025 06/30/2025 05/30/2025 04/30/2025 03/31/2025 02/28/2025 01/31/2025 12/31/2024 11/29/2024 10/31/2024 09/30/2024 08/30/2024 07/31/2024 06/28/2024 05/31/2024 04/30/2024 03/28/2024 02/29/2024 01/31/2024 12/29/2023 11/30/2023 10/31/2023 09/29/2023 08/31/2023 07/31/2023 06/30/2023 05/31/2023 04/28/2023 03/31/2023 03/23/2023 02/28/2023 01/31/2023 12/30/2022 11/30/2022 10/31/2022 09/30/2022 08/31/2022 07/29/2022 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	2,213.32	0.20	-0.55	4.04	14.56	6.94	19.66	14.82	13.04	8.86	0.40	0.40	9.48
NAV	1,917.76	0.28	-0.38	3.17	11.31	5.97	10.38	11.58	9.57	6.96	0.29	0.29	7.53
Difference		0.08	0.16	-0.87	-3.25	-0.97	-9.28	-3.24	-3.47	-1.90	-0.11	-0.11	-1.95
* Periods greater than 1 Year are annualized.      ** On Inception Date (Dec. 30, 2016), Index Price was $1,000 and NAV was $1,000.02

2025 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2025
Price	4.26	-0.54	-1.67	1.96	-1.52	4.32	4.09	6.94	9.04	-	-	-	-	-	-	-	-	-	-
NAV	2.75	-0.18	-2.05	0.46	-0.36	3.37	3.62	6.73	7.21	-	-	-	-	-	-	-	-	-	-
Difference	-1.51	0.36	-0.38	-1.50	1.16	-0.96	-0.47	-0.22	-1.83	-	-	-	-	-	-	-	-	-	-
2024 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2024
Price	1.89	2.22	2.96	7.23	-2.79	3.71	1.66	2.49	9.90	2.78	2.09	2.30	7.34	-1.44	7.44	-1.34	4.48	12.14	23.24
NAV	-0.01	2.05	2.65	4.74	-2.28	2.84	0.94	1.45	6.25	2.24	1.87	1.82	6.04	-1.08	3.14	-2.95	-0.98	5.01	11.57
Difference	-1.90	-0.18	-0.31	-2.49	0.51	-0.86	-0.72	-1.04	-3.65	-0.54	-0.22	-0.48	-1.29	0.36	-4.30	-1.62	-5.46	-7.14	-11.67
2023 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2023
Price	9.69	-2.61	-1.88	4.82	0.49	-2.20	5.47	3.66	8.65	3.60	-2.57	-3.33	-2.42	-4.76	8.41	4.29	7.68	5.07	14.15
NAV	6.43	-2.74	0.20	3.72	0.97	-1.65	4.26	3.54	7.39	2.73	-1.77	-2.69	-1.80	-2.63	6.64	4.41	8.41	6.46	14.32
Difference	-3.26	-0.13	2.08	-1.09	0.48	0.55	-1.21	-0.12	-1.26	-0.87	0.80	0.64	0.62	2.13	-1.77	0.12	0.73	1.39	0.17
2022 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	-3.17	-2.88	1.76	-4.30	-6.88	-0.81	-7.22	-14.30	-17.99	8.08	-2.59	-11.64	-6.98	5.99	5.77	-5.08	6.40	-1.02	-18.83
NAV	-2.92	-1.40	1.04	-3.28	-5.53	-0.45	-6.68	-12.24	-15.12	5.98	-2.54	-7.51	-4.47	4.17	4.98	-2.87	6.22	1.48	-13.86
Difference	0.25	1.48	-0.72	1.02	1.35	0.36	0.54	2.06	2.87	-2.09	0.05	4.13	2.51	-1.82	-0.78	2.21	-0.18	2.50	4.96
2021 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	1.62	4.47	3.74	10.13	3.78	2.48	1.62	8.08	19.02	-0.40	2.11	-2.69	-1.03	4.14	-2.58	2.51	4.00	2.93	22.51
NAV	0.90	2.50	1.98	5.47	3.19	1.67	1.01	5.97	11.76	0.08	1.50	-2.00	-0.45	3.17	-2.03	2.22	3.32	2.85	14.94
Difference	-0.72	-1.97	-1.77	-4.66	-0.59	-0.81	-0.61	-2.11	-7.26	0.48	-0.61	0.69	0.58	-0.97	0.55	-0.29	-0.68	-0.08	-7.56
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	-9.50	-21.75	-28.93	12.59	5.87	1.68	21.20	-13.87	4.09	3.86	-2.83	5.06	-1.96	14.61	4.35	17.26	23.19	6.10
NAV	-0.28	-5.29	-18.27	-22.82	10.16	4.39	2.27	17.61	-9.23	4.52	3.37	-2.14	5.72	-0.51	9.54	3.90	13.24	19.71	8.67
Difference	-0.64	4.21	3.48	6.12	-2.44	-1.48	0.60	-3.59	4.64	0.42	-0.50	0.68	0.66	1.45	-5.06	-0.46	-4.02	-3.47	2.57
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	11.90	2.46	1.13	15.95	2.46	-4.08	5.17	3.37	19.86	1.28	-1.92	2.32	1.63	1.04	1.10	2.96	5.18	6.90	28.13
NAV	7.27	2.04	1.33	10.91	1.97	-3.42	4.31	2.73	13.93	0.35	-1.13	1.36	0.57	1.14	0.95	2.96	5.13	5.72	20.45
Difference	-4.64	-0.42	0.20	-5.04	-0.50	0.66	-0.86	-0.65	-5.93	-0.93	0.79	-0.95	-1.07	0.10	-0.15	-0.00	-0.05	-1.18	-7.68
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	2.27	-3.15	-0.68	-1.62	1.62	0.68	-0.18	2.12	0.47	2.52	1.28	-0.97	2.83	-8.02	1.60	-7.42	-13.48	-11.03	-10.61
NAV	3.15	-3.55	-0.69	-1.19	0.89	0.49	-0.22	1.16	-0.05	2.59	0.70	-0.23	3.07	-5.02	0.62	-5.01	-9.22	-6.43	-6.47
Difference	0.88	-0.40	-0.01	0.42	-0.73	-0.19	-0.04	-0.96	-0.52	0.07	-0.57	0.73	0.24	3.00	-0.98	2.41	4.26	4.60	4.14
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	3.74	2.93	0.91	7.75	2.97	0.94	0.87	4.85	12.97	2.43	-0.84	2.42	4.03	-0.01	-0.68	1.90	1.18	5.26	18.91
NAV	2.11	2.27	0.74	5.21	1.33	1.08	0.90	3.34	8.72	2.02	0.08	1.29	3.42	0.75	0.81	1.01	2.59	6.10	15.36
Difference	-1.62	-0.65	-0.17	-2.54	-1.64	0.13	0.03	-1.51	-4.25	-0.41	0.92	-1.13	-0.61	0.77	1.50	-0.89	1.41	0.84	-3.56
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-5.40	0.25	7.55	2.00	3.32	0.95	2.24	6.63	8.77	4.62	0.92	-0.50	5.06	-2.65	0.37	2.25	-0.10	4.95	14.16
NAV	-3.90	-0.71	5.51	0.67	2.47	1.09	1.09	4.72	5.42	3.36	0.45	0.51	4.36	-1.25	-0.04	1.69	0.37	4.75	10.43
Difference	1.50	-0.96	-2.05	-1.33	-0.85	0.14	-1.14	-1.91	-3.35	-1.26	-0.47	1.01	-0.70	1.40	-0.41	-0.56	0.47	-0.21	-3.73
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	0.83	3.78	-1.13	3.47	1.72	-0.53	-3.83	-2.69	0.68	-2.04	-4.99	-4.34	-10.96	7.42	-1.82	-1.95	3.41	-7.93	-7.30
NAV	0.26	3.08	-0.57	2.76	1.76	0.13	-2.17	-0.31	2.43	-0.34	-4.22	-3.33	-7.73	5.09	-1.41	-2.84	0.68	-7.10	-4.84
Difference	-0.57	-0.70	0.56	-0.71	0.04	0.66	1.66	2.38	1.75	1.70	0.77	1.01	3.24	-2.33	0.41	-0.88	-2.73	0.83	2.46
2014 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2014
Price	-0.57	3.92	0.66	4.00	1.57	2.40	2.25	6.35	10.60	-1.89	2.44	-3.29	-2.80	1.14	0.91	-2.50	-0.50	-3.28	6.98
NAV	-0.36	3.22	1.01	3.89	1.11	2.00	2.01	5.21	9.30	-1.07	2.36	-2.79	-1.56	1.17	0.43	-1.67	-0.09	-1.65	7.50
Difference	0.21	-0.70	0.35	-0.11	-0.45	-0.40	-0.24	-1.13	-1.30	0.81	-0.08	0.50	1.23	0.03	-0.48	0.83	0.41	1.62	0.52
2013 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2013
Price	6.45	0.79	2.03	9.46	1.65	-1.26	-2.51	-2.15	7.11	1.59	-3.00	2.40	0.91	3.55	-0.44	1.68	4.82	5.78	13.30
NAV	4.16	0.38	1.95	6.59	2.30	-0.41	-2.90	-1.08	5.44	3.11	-1.99	3.10	4.18	2.97	0.65	0.99	4.67	9.05	14.99
Difference	-2.29	-0.41	-0.08	-2.87	0.65	0.85	-0.39	1.07	-1.67	1.52	1.00	0.70	3.28	-0.58	1.09	-0.69	-0.15	3.28	1.69
2012 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2012
Price	7.91	3.88	0.14	12.25	0.53	-5.35	3.60	-1.43	10.64	2.77	2.18	2.83	7.97	-0.91	-1.01	1.17	-0.77	7.14	18.55
NAV	4.57	3.36	0.48	8.60	0.36	-5.28	2.76	-2.32	6.08	2.30	1.65	2.44	6.53	0.31	0.34	1.51	2.17	8.84	15.45
Difference	-3.34	-0.52	0.34	-3.64	-0.16	0.06	-0.84	-0.90	-4.57	-0.46	-0.53	-0.38	-1.45	1.22	1.35	0.34	2.94	1.70	-3.09

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount -3.25%	1Yr Disc -4.13%	3Yr Disc -5.77%	5Yr Disc -4.99%	Rel Disc Range (3yr) 60.13%
Mkt Yield 10.00%	Lev Adj NAV Yield 8.32%	After Tax Yield* 8.49%	Est Tax Friction* 1.51%	3Yr NAV Volatiliy 13.77
1 Yr RoC 39.77%	3 Yr Dest RoC 10.52%	Leverage 18.81%	Non Lev Exp Ratio 1.59%	Beta (2yr) 0.70
Equity Exposure 56.21%	Bond Exposure 41.52%	# Holdings 157	Cash Weighted Duration 1.41
Comp NAV TR 0.89%	Comp Discount -0.49%	Net Assets (M) 1,066	Liquidity - 90d (K) 3,525
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

157 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
PDI	PIMCO Dyn Incm Fd	PIMCO	0.62	12.96	13.99	16.93	34.08	6,441	32,810
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	0.61	30.39	14.68	60.36	13.68	2,046	12,518
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	0.61	3.09	11.51	8.76	35.87	1,694	5,388
DSL	DbLin Incm Solutions Fd	Doubleline	0.60	-0.74	10.97	12.80	21.17	1,384	4,139
PAXS	PIMCO Access Incm Fd	PIMCO	0.62	-0.73	11.91	6.91	39.89	691	3,279
PHK	PIMCO Hi Incm Fd	PIMCO	0.62	4.37	12.05	10.47	9.62	791	2,545
WDI	WA Divr Incm Fd	Franklin Templeton	0.62	0.00	11.95	0.00	32.30	772	2,484
BTZ	BR Cr Alloc Incm Tr	BlackRock	0.61	-3.47	9.28	28.83	35.67	1,049	2,172
PFN	PIMCO Incm Stgy Fd II	PIMCO	0.62	5.26	11.63	9.77	15.50	660	2,016
RA	Brkf Real Ast Incm Fd	Brookfield	0.61	-7.91	10.67	9.44	24.19	796	2,151
NPCT	Nuv Core Plus Impact Fd	Nuveen	0.60	-3.13	11.92	62.80	36.04	321	2,105
BHK	BR Core Bnd Tr	BlackRock	0.60	-2.95	9.38	33.38	40.00	710	2,586
BIT	BR Mlt-Sctr Incm Tr	BlackRock	0.61	1.26	10.26	33.50	33.58	599	2,016
ARCC	Ares Capital Corp	Ares	0.26	17.31	8.26	0.00	49.16	13,669	92,054
OBDC	Blue Owl Cap Corp	Blue Owl	0.27	-0.26	9.80	0.00	55.29	7,737	37,295
BXSL	Blackstone Secur Lending Fd	Blackstone	0.26	18.47	9.49	0.00	52.85	6,245	28,624
MAIN	Main Street Cap Corp	Main Street Capital	0.27	102.37	4.72	0.00	42.73	2,852	34,030
FSK	FS KKR Capital Corp	FS/KKR	0.28	-3.81	11.39	0.00	53.70	6,545	26,346
HTGC	Hercules Capital	Hercules	0.27	68.23	8.23	0.00	49.03	2,026	22,296
GBDC	Golub Capital BDC	Golub Capital	0.26	2.93	10.08	0.00	54.00	4,006	20,668
CSWC	Cap Southwest Corp	Capital Southwest	0.26	39.22	9.98	0.00	50.78	884	12,699
TSLX	Sixth St Splty Lending	Sixth St Splty Lending	0.26	47.30	7.33	0.00	52.73	1,601	12,444
PFLT	PennantPark Flt Rt Cap	PennantPark	0.26	-2.26	11.37	0.00	55.25	1,098	9,121
PSEC	Prospect Capital Corp	Prospect Capital	0.27	-52.83	15.79	0.00	52.32	3,274	10,050
OCSL	Oaktree Splty Lending	Oaktree Capital	0.27	-12.36	10.90	0.00	47.04	1,475	9,208
TRIN	Trinity Capital	Trinity Capital	0.27	14.71	13.63	0.00	51.63	844	10,335
MSDL	MS Direct Lending Fd	MS Cap Patnr Advis	0.26	-5.13	10.21	0.00	51.35	1,800	7,745
GSBD	Goldman Sachs BDC	Goldman Sachs	0.27	-9.39	10.70	0.00	53.31	1,548	7,794
CGBD	Carlyle Secured Lending	Carlyle	0.27	-14.85	11.30	0.00	49.69	1,212	5,811
MFIC	MidCap Fin Invt Corp	Apollo	0.27	-9.91	11.30	0.00	57.87	1,393	4,987
NMFC	New Mountain Fin Corp	New Mountain Capital	0.26	-13.09	11.83	0.00	56.44	1,343	4,531
BCSF	Bain Cap Splty Fin	BCSF Advisors	0.26	-10.71	10.67	0.00	54.92	1,144	4,159
TCPC	BR TCP Capital Corp	BlackRock	0.25	-14.60	12.76	0.00	58.25	781	3,981
BBDC	Barings BDC	Barings	0.26	-14.08	10.72	0.00	54.30	1,188	4,074
NCDL	Nuv Churchill Direct Lending	Churchill DLC Advis	0.26	-4.68	10.51	0.00	55.71	903	3,823
FDUS	Fidus Investment Corp	Fidus	0.27	13.41	7.82	0.00	43.08	679	3,787
HRZN	Horizon Tech Fin Corp	Horizon Tech Fin	0.29	8.06	16.14	0.00	59.65	305	4,320
FSCO	FS Cr Opp Corp	FS/KKR	0.66	-2.17	11.28	0.00	32.32	1,462	5,624
JQC	Nuv Cr Stgs Incm Fd	Nuveen	0.68	-3.89	11.91	17.59	37.12	837	4,519
JFR	Nuv Flt Rt Incm Fd	Nuveen	0.67	-3.86	12.04	12.69	34.96	1,418	4,349
VVR	Invsc Sr Incm Tr	Invesco	0.66	1.08	12.13	11.83	33.82	571	2,056
XFLT	XAI Octgn Flt Rt & Alt Incm Tr	XA Investments	0.66	-7.93	15.08	0.00	37.89	461	2,217
BGB	Blackstone Stgc Cr 2027 Trm Fd	Blackstone	0.68	-3.21	8.63	0.00	37.30	571	1,666
FRA	BR Flt Rt Incm Stgc Fd	BlackRock	0.67	5.70	11.28	28.10	22.86	441	1,433
BGT	BR Flt Rt Incm Fd	BlackRock	0.66	2.38	11.59	28.94	18.71	337	1,765
ARDC	Ares Dyn Cr Alloc Fd	Ares	0.68	-0.89	9.28	0.00	37.94	336	1,194
HYT	BR Corp Hi Yld Fd	BlackRock	0.46	0.73	9.64	19.29	22.98	1,544	6,077
ACP	abrdn Incm Cr Stgs Fd	abrdn	0.47	-2.61	15.60	36.89	27.98	768	3,346
DLY	DbLin Yld Opp Fd	Doubleline	0.45	-2.29	9.10	4.44	15.80	764	2,157
KIO	KKR Incm Opp Fd	KKR Credit	0.46	-1.86	11.53	0.00	30.61	526	2,634
DSU	BR Dbt Stgs Fd	BlackRock	0.46	1.94	11.25	27.42	17.95	576	2,196
GHY	PGIM Glbl Hi Yld Fd	Prudential	0.44	-0.69	9.74	31.60	15.64	533	1,883
CIK	CS Ast Mgmt Incm Fd	Credit Suisse	0.46	1.03	9.15	4.40	28.35	160	1,592
HIO	WA Hi Incm Opp Fd	Franklin Templeton	0.47	-1.48	10.65	18.69	0.00	386	1,196
HIX	WA Hi Incm Fd II	Franklin Templeton	0.47	-0.46	13.55	17.88	32.14	393	1,396
ISD	PGIM Hi Yld Bnd Fd	Prudential	0.46	0.36	8.97	30.27	18.93	466	1,401
BGH	Barings Glbl Srt Dur Hi Yld Fd	Barings	0.48	-0.13	9.21	0.00	27.47	320	1,412
FTHY	FT Hi Yld Opp 2027 Trm Fd	First Trust	0.45	-2.60	10.26	24.98	21.50	552	1,194
EAD	Allspring Incm Opp Fd	Allspring	0.47	-3.41	9.05	0.00	30.80	434	1,113
JPC	Nuv Pref & Incm Opp Fd	Nuveen	0.63	1.51	9.91	14.32	36.94	2,562	6,208
FPF	FT Imd Dur Pref & Incm Fd	First Trust	0.63	-1.61	8.73	23.56	34.49	1,169	2,185
PTA	Tx-Adv Pref Sec Pref Sec & Incm Fd	Cohen&Steers	0.63	-3.24	8.03	13.29	35.00	1,144	1,849
FFC	F&C Pref Sec Incm Fd	Flaherty & Crumrine	0.64	-3.88	6.78	0.00	37.80	833	1,664
PDT	JH Prm Div Fd	John Hancock	0.62	-3.45	7.52	11.13	36.03	671	1,549
LDP	C&S Ltd Dur Pref & Incm Fd	Cohen&Steers	0.63	-3.45	7.40	4.64	33.00	640	1,216
DFP	F&C Dyn Pref & Incm Fd	Flaherty & Crumrine	0.64	-6.35	6.72	0.00	37.80	459	1,071
NPFD	Nuv Var Rt Pref & Incm Fd	Nuveen	0.62	-4.03	10.55	33.09	36.49	480	1,025
CHY	Calamos Convt & Hi Incm Fd	Calamos	0.99	0.28	11.03	57.08	34.93	861	2,457
CHI	Calamos Convt Opp & Incm	Calamos	0.99	1.85	10.90	56.70	34.62	797	2,156
AVK	Advent Convt & Incm Fd	Guggenheim Funds	1.00	-4.42	11.60	70.10	38.75	560	1,679
CCD	Calamos Dyn Convt & Incm Fd	Calamos	1.01	2.83	11.49	46.81	34.32	537	1,663
NCV	Virtus Convt & Incm Fd	Virtus	0.99	-10.52	11.56	87.11	36.25	357	1,074
BBN	BR Taxable Muni BndTr	BlackRock	1.96	-5.55	7.48	14.60	33.81	1,035	2,235
GBAB	Gghm Taxable Muni Bnd & Inv Grd Dbt	Guggenheim Funds	1.98	1.08	10.12	45.07	28.23	398	1,413
ADX	Adams Divr Eq Fd	Adams Funds	1.07	-7.82	8.44	3.00	0.00	2,781	6,027
AEF	abrdn Emrg Mkt ex-China Fd	abrdn	1.52	-10.98	10.00	98.44	10.55	274	743
AGD	abrdn Glbl Dyn Div Fd	abrdn	1.21	0.09	11.72	40.21	2.12	280	1,339
AOD	abrdn Tot Dyn Div Fd	abrdn	1.20	-7.40	13.32	43.84	0.79	1,026	3,984
ASG	Liberty All-Star Gwth Fd	ALPS	0.74	-7.00	8.60	0.00	0.00	361	1,087
BGY	BR Enh Intl DivTr	BlackRock	1.17	-7.44	8.94	28.77	0.00	560	1,397
BSTZ	BR Sci & Tech Trm Tr	BlackRock	1.19	-7.67	12.50	28.70	0.00	1,550	4,417
BTX	BR Tech & Pvt Eq Trm Tr	BlackRock	1.05	-4.74	13.22	100.00	0.00	886	4,800
CEE	Cntrl & East Euro Fd	Deutsche	0.73	-0.13	2.27	0.00	0.00	101	611
CET	Cntrl Sec Corp	Central Securities	0.73	-16.88	4.79	0.00	0.00	1,671	1,061
CHN	China Fund	Allianz	0.75	-4.26	0.98	0.00	0.00	154	572
CLM	Cornerstone Stgc Inv Fd	Cornerstone	1.05	16.98	18.38	55.25	0.00	1,939	13,978
CRF	Cornerstone Tot Rtn Fd	Cornerstone	1.07	17.12	18.13	75.19	0.00	1,016	8,751
EOD	Allspring Glbl Div Opp Fd	Allspring	0.76	-9.41	9.21	0.00	16.60	261	593
ETG	EV Tx-Adv Glbl Div Incm Fd	Eaton Vance	0.72	-4.61	7.49	13.64	19.71	1,657	2,508
ETO	EV Tx-Adv Glbl Div Opp Fd	Eaton Vance	0.73	-6.61	7.63	3.03	19.17	478	872
EVT	EV Tx-Adv Div Incm Fd	Eaton Vance	1.49	-8.46	8.26	6.46	19.87	1,948	3,215
GAB	Gabelli Eq Tr	Gabelli	0.74	7.09	10.19	18.63	17.00	1,690	3,018
GAM	General American Invstr	General American Inv	0.74	-11.08	0.44	0.00	12.33	1,508	972
GDV	Gabelli Div & Incm Tr	Gabelli	1.52	-10.85	6.39	14.57	16.00	2,629	3,874
GGT	Gabelli Multimedia Tr	Gabelli	0.74	12.57	19.95	69.47	34.00	125	823
HGLB	Highland Glbl Alloc Fd	NexPoint	0.70	-30.94	12.62	0.00	3.47	281	530
IDE	Voya Infra Ind & Matrls Fd	Voya	0.74	-3.37	10.22	38.50	0.00	184	553
IFN	India Fund	abrdn	0.71	-5.80	10.21	0.00	0.00	688	2,092
IGD	Voya Glbl Eq Div & Prm Opp	Voya	1.19	-4.94	10.40	76.42	0.00	479	1,160
IIF	MS India Inv Fd	Morgan Stanley	0.72	-10.74	9.07	0.00	0.00	296	773
JCE	Nuv Core Eq Alpha Fd	Nuveen	0.74	-2.46	8.29	0.00	0.00	269	465
JEQ	abrdn Japan Eq Fd	abrdn	0.70	-4.60	6.06	58.80	8.76	108	455
JOF	Japan Sml Caplz Fd	Nomura	0.73	-11.69	11.10	0.00	0.00	308	793
LGI	Lzrd Glbl Tot Rtn & Incm Fd	Lazard	1.17	-6.46	10.56	38.74	30.09	232	855
MXF	Mexico Fund	Impulsora del	0.72	-16.14	5.80	26.85	0.00	297	1,124
NBXG	NB Nxt Gen Connectivity Fd	Neuberger Berman	1.08	-9.87	8.11	100.00	0.00	1,293	2,904
RMT	Royce Micro-Cap Tr	Franklin Templeton	0.75	-12.12	7.58	0.00	0.37	558	1,332
RVT	Royce Small-Cap Tr	Franklin Templeton	1.09	-10.51	7.53	0.00	1.77	2,025	3,737
SOR	Source Capital	First Pacific	0.73	-5.54	5.75	0.00	0.00	377	519
SPE	Spl Opp Fd	Bulldog	0.73	-9.67	8.50	7.59	24.21	182	493
STEW	SRH Tot Rtn Fd	Paralel Advisors	1.06	-20.15	3.75	27.73	9.50	2,126	2,189
TDF	Tmp Dragon Fd	Franklin Templeton	0.74	-14.62	1.98	0.00	0.00	299	500
TWN	Taiwan Fund	Nomura	0.74	-16.46	0.88	0.00	0.00	341	767
TY	Tri-Cont Corp	Columbia Mngmt	0.74	-11.19	3.61	0.00	2.10	1,901	1,401
USA	Liberty All-Star Eq Fd	ALPS	1.07	-3.39	10.54	0.00	0.00	2,084	4,981
EXG	EV Tx-Mgd Glbl Divr Eq Incm	Eaton Vance	0.25	-6.12	9.01	23.01	0.00	2,851	5,129
QQQX	Nuv Nasdaq 100 Dyn Owrt Fd	Nuveen	0.25	-7.69	8.52	38.14	0.00	1,391	3,796
ETY	EV Tx-Mgd Divr Eq Incm Fd	Eaton Vance	0.25	2.10	7.65	0.00	0.00	2,402	3,748
BST	BR Sci & Tech Tr	BlackRock	0.25	-6.47	7.77	25.17	0.00	1,433	3,398
BDJ	BR Enh Eq Div Tr	BlackRock	0.25	-5.54	8.38	7.59	0.00	1,660	3,511
ETW	EV Tx-Mgd Glbl By-Wrt Opp	Eaton Vance	0.25	-9.28	9.27	23.99	0.00	1,039	2,712
ETV	EV Tx-Mgd By-Wrt Opp Fd	Eaton Vance	0.25	-5.75	8.65	23.78	0.00	1,706	2,665
BXMX	Nuv S&P 500 By-Wrt Inc Fd	Nuveen	0.25	-8.04	7.81	78.22	0.00	1,580	2,269
NFJ	Virtus Div Int & Prm Stgy Fd	Virtus	0.25	-9.93	9.67	34.10	0.00	1,327	2,484
EOS	EV Enh Eq Incm Fd II	Eaton Vance	0.25	1.51	7.57	26.13	0.00	1,246	2,133
CII	BR Enh Large Cap Core Fd	BlackRock	0.24	-6.52	8.03	0.00	0.00	922	1,849
KYN	KA Nrg Infra Fd	Kayne Anderson	0.88	-9.68	7.80	9.58	14.01	2,305	3,966
TYG	Tortoise Nrg Infra Corp	Tortoise	0.88	-5.67	10.25	75.26	20.40	781	2,899
EMO	CB Nrg Midstream Opp Fd	Franklin Templeton	0.90	-5.47	9.16	35.21	21.88	908	2,038
RQI	C&S Qlty Incm Rty Fd	Cohen&Steers	0.68	-4.40	7.76	0.00	29.00	1,740	3,367
IGR	CBRE Clr Glbl Rel-Est Incm Fd	CBRE Invst Mgmt	0.66	3.64	14.04	51.59	31.53	742	2,319
AWP	abrdn Glbl Prmr Prop Fd	abrdn	0.65	0.26	12.60	76.93	11.92	333	1,133
RLTY	C&S Rel-Est Opp & Incm Fd	Cohen&Steers	0.68	-5.50	8.63	65.14	34.00	271	905
BMEZ	BR Health Sci Trm Tr	BlackRock	0.67	-7.75	14.29	99.86	0.00	951	3,348
HQH	abrdn Health Invstr	abrdn	0.69	-10.30	13.70	49.59	0.00	962	3,335
THQ	abrdn Health Opp Fd	abrdn	0.65	0.80	12.24	57.58	22.60	724	2,806
BME	BR Health Sci Tr	BlackRock	0.67	-7.14	8.77	7.73	0.00	499	1,609
GGN	GAMCO Glbl Gd NtrRes Incm	Gabelli	0.92	-0.45	8.09	54.62	10.00	696	2,574
BCX	BR Res & Com Stgy Tr	BlackRock	0.92	-6.62	8.72	63.07	0.00	783	1,631
NXG	NXG NextGen Infra Incm Fd	Cushing	0.88	2.76	13.29	100.00	29.11	180	1,791
ECAT	BR ESG Cap Alloc Trm Tr	BlackRock	0.39	-2.31	21.90	90.36	0.00	1,636	4,563
CSQ	Calamos Stgc Tot Rtn Fd	Calamos	0.39	-3.69	6.73	45.74	30.55	3,042	3,381
NIE	Virtus Eq & Convt Incm Fd	Virtus	0.39	-9.70	8.33	0.00	0.00	737	1,358
TBLD	Thornburg Incm Bldr Opp Tr	Thornburg Inv Mgmt	0.40	-0.39	6.14	0.00	0.00	656	1,734
CHW	Calamos Glbl Dyn Incm Fd	Calamos	0.39	-11.47	8.45	6.38	26.50	512	962
ZTR	Virtus Tot Rtn Fd	Virtus	0.38	-11.82	9.80	65.17	29.73	386	968
CPZ	Calamos Lng-Srt Eq & Dyn Incm	Calamos	0.39	-9.38	10.41	7.46	25.66	350	1,053
UTG	Reaves Util Incm Fd	W.H. Reaves	0.46	0.75	6.58	0.00	19.63	3,228	8,284
DNP	DNP Sel Incm Fd	Virtus	0.45	6.80	8.01	18.21	24.21	3,399	5,210
UTF	C&S Infra Fd	Cohen&Steers	0.44	3.53	7.05	7.38	29.00	2,460	4,879
ASGI	abrdn Glbl Infra Incm Fd	abrdn	0.46	-3.57	12.29	28.57	0.00	615	3,255
MEGI	MainStay CBRE Glbl Infra MTrnd Trm	New York Life	0.45	-8.51	10.57	41.67	25.40	807	1,828
BUI	BR Util Infra & Pwr OppTr	BlackRock	0.45	3.89	6.31	14.00	0.00	566	1,391
IAE	Voya AP Hi Div Eq Incm Fd	Voya	0.78	-7.63	11.11	80.75	0.00	82	501
IHD	Voya Emrg Mkt Hi Div Eq Fd	Voya	0.77	-8.28	11.24	82.92	0.00	114	455
HERZ	Herzfeld Cr Incm Fd	Herzfeld Cuba	0.74	-8.68	38.43	54.37	0.00	42	240
BTO	JH Fin Opp Fd	John Hancock	0.80	2.02	7.16	12.01	16.59	703	1,414

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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