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

09. Premium CEF/BDC Index

Data as of 07/25/2024 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	967.22	-0.01	-0.73	1.20	3.66	3.46	6.81	-5.91	-3.65	-1.10	0.22	0.22	4.13
NAV	1,669.40	-0.09	-0.66	1.11	3.88	5.84	11.90	2.46	6.02	5.68	0.49	0.49	6.34
Difference		-0.08	0.07	-0.09	0.22	2.38	5.09	8.37	9.67	6.77	0.26	0.26	2.21
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.13

2024 - Monthly Performance (%) Show Previous Years
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2024
Price	0.66	1.04	1.16	2.89	-1.84	2.04	0.81	0.97	3.89	-	-	-	-	-	-	-	-	-	-
NAV	1.08	0.74	1.64	3.49	-0.50	1.63	1.12	2.25	5.82	-	-	-	-	-	-	-	-	-	-
Difference	0.41	-0.30	0.48	0.60	1.34	-0.41	0.30	1.28	1.93	-	-	-	-	-	-	-	-	-	-
2023 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2023
Price	3.62	-3.05	-0.88	-0.42	-0.80	-2.94	4.27	0.40	-0.02	4.86	-3.17	0.30	1.84	-6.10	7.78	3.39	4.64	6.57	6.55
NAV	5.38	-2.99	0.63	2.87	0.22	-0.81	3.18	2.57	5.51	2.42	-0.56	-3.42	-1.64	-1.64	6.59	3.98	9.02	7.23	13.14
Difference	1.76	0.05	1.51	3.29	1.02	2.13	-1.09	2.17	5.53	-2.44	2.61	-3.73	-3.48	4.46	-1.20	0.60	4.38	0.66	6.59
2022 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2022
Price	-6.56	-3.13	0.22	-9.28	-8.57	-2.49	-8.03	-18.01	-25.62	6.56	-3.32	-11.57	-8.90	4.05	4.74	3.08	12.33	2.34	-23.88
NAV	-2.81	-1.34	-0.13	-4.24	-6.37	-0.03	-7.02	-12.97	-16.66	5.62	-2.08	-6.71	-3.52	3.69	6.27	-3.32	6.54	2.79	-14.34
Difference	3.75	1.78	-0.35	5.04	2.20	2.47	1.01	5.04	8.96	-0.95	1.24	4.86	5.38	-0.36	1.54	-6.40	-5.80	0.45	9.54
2021 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2021
Price	0.50	1.51	3.08	5.15	2.30	0.91	2.12	5.42	10.85	-0.74	0.01	-4.01	-4.71	1.49	-0.83	1.31	1.97	-2.83	7.71
NAV	0.35	0.45	1.86	2.68	2.56	1.42	1.59	5.67	8.50	0.83	1.51	-1.38	0.94	1.92	-0.74	2.58	3.77	4.75	13.66
Difference	-0.15	-1.05	-1.21	-2.47	0.26	0.51	-0.53	0.25	-2.35	1.57	1.50	2.63	5.65	0.43	0.09	1.26	1.80	7.59	5.95
2020 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2020
Price	1.20	-9.40	-21.67	-28.18	2.94	5.87	1.90	11.05	-20.25	2.00	2.37	-1.35	3.01	-1.99	9.31	3.65	11.05	14.39	-8.77
NAV	2.16	-2.29	-15.42	-15.57	3.55	5.74	3.35	13.16	-4.46	4.13	2.30	-0.32	6.18	0.72	5.74	2.59	9.25	16.01	10.84
Difference	0.96	7.11	6.25	12.61	0.61	-0.13	1.46	2.11	15.79	2.13	-0.08	1.04	3.17	2.71	-3.58	-1.06	-1.79	1.62	19.61
2019 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2019
Price	7.34	1.90	1.64	11.16	-0.09	-2.39	4.16	1.59	12.93	0.75	-3.03	1.25	-1.08	-0.39	-0.17	2.10	1.53	0.43	13.42
NAV	5.18	1.21	2.36	8.97	1.65	-1.43	3.11	3.32	12.58	0.23	-0.61	0.86	0.48	0.12	-0.31	2.94	2.74	3.23	16.21
Difference	-2.16	-0.69	0.72	-2.20	1.75	0.96	-1.05	1.73	-0.34	-0.52	2.42	-0.39	1.56	0.51	-0.14	0.84	1.21	2.79	2.80
2018 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2018
Price	-2.63	-2.95	-0.80	-6.26	3.26	2.25	-1.18	4.33	-2.20	1.65	1.27	-0.94	1.98	-7.25	1.85	1.58	-4.05	-2.15	-4.31
NAV	1.18	-2.30	-0.61	-1.75	1.79	1.80	-0.03	3.60	1.79	1.29	0.66	0.63	2.61	-2.75	0.09	-2.02	-4.62	-2.14	-0.39
Difference	3.81	0.64	0.20	4.51	-1.46	-0.44	1.15	-0.73	3.99	-0.36	-0.61	1.57	0.63	4.50	-1.76	-3.60	-0.57	0.01	3.92
2017 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2017
Price	2.10	0.83	0.01	2.95	2.44	1.54	-0.01	4.00	7.07	0.49	-0.79	0.80	0.49	-0.46	-0.74	1.02	-0.19	0.30	7.39
NAV	1.46	1.56	0.52	3.58	1.36	1.27	0.17	2.83	6.51	1.25	0.53	0.47	2.27	0.62	0.66	0.66	1.95	4.26	11.06
Difference	-0.64	0.73	0.51	0.63	-1.07	-0.27	0.18	-1.17	-0.56	0.76	1.32	-0.32	1.78	1.08	1.40	-0.36	2.14	3.97	3.67
2016 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2016
Price	-2.61	1.39	3.81	2.51	4.47	-0.03	4.45	9.09	11.82	2.68	0.53	-1.61	1.56	-5.01	-1.71	0.69	-5.98	-4.52	6.77
NAV	-1.37	0.13	2.09	0.82	4.51	1.22	3.13	9.09	9.98	1.18	0.47	1.69	3.38	-0.75	-2.50	2.04	-1.25	2.08	12.27
Difference	1.24	-1.26	-1.72	-1.68	0.04	1.24	-1.32	-0.00	-1.84	-1.49	-0.05	3.30	1.82	4.26	-0.79	1.35	4.73	6.60	5.50
2015 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2015
Price	-2.05	1.51	-1.76	-2.31	0.74	-1.39	-5.22	-5.84	-8.02	-0.91	-4.17	-4.03	-8.87	6.68	-3.72	-0.92	1.76	-7.27	-14.70
NAV	-0.62	2.22	-0.60	0.98	1.06	0.69	-1.96	-0.24	0.74	0.43	-3.16	-2.48	-5.15	4.95	-2.06	-3.15	-0.44	-5.57	-4.87
Difference	1.43	0.71	1.16	3.29	0.31	2.08	3.26	5.60	8.76	1.35	1.01	1.55	3.72	-1.72	1.66	-2.23	-2.20	1.69	9.83
2014 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2014
Price	1.89	2.54	0.28	4.76	1.67	3.08	2.03	6.93	12.02	-2.13	3.99	-2.36	-0.63	1.72	1.47	-0.74	2.45	1.80	14.04
NAV	1.46	2.29	0.55	4.36	1.42	2.03	2.61	6.19	10.82	-1.25	2.95	-1.29	0.35	-0.51	-0.40	-1.99	-2.87	-2.53	8.01
Difference	-0.42	-0.25	0.27	-0.41	-0.25	-1.05	0.58	-0.74	-1.20	0.88	-1.04	1.07	0.98	-2.23	-1.86	-1.25	-5.32	-4.33	-6.03
2013 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2013
Price	6.40	1.67	0.48	8.70	2.11	-1.01	-1.75	-0.69	7.95	-0.44	-1.61	2.01	-0.07	2.47	0.10	2.17	4.81	4.74	13.06
NAV	3.84	0.45	2.02	6.42	2.00	-0.08	-2.17	-0.29	6.11	1.79	-1.68	2.59	2.67	2.00	0.78	1.01	3.84	6.61	13.12
Difference	-2.56	-1.21	1.54	-2.28	-0.11	0.93	-0.42	0.40	-1.84	2.23	-0.07	0.57	2.74	-0.47	0.67	-1.16	-0.97	1.87	0.06
2012 - Monthly Performance (%)
	Jan	Feb	Mar	Q1	Apr	May	Jun	Q2	1H	Jul	Aug	Sep	Q3	Oct	Nov	Dec	Q4	2H	2012
Price	5.58	2.84	0.06	8.64	1.38	-2.44	3.24	2.11	10.94	2.83	0.97	2.39	6.31	-0.67	-1.12	-1.22	-2.98	3.14	14.42
NAV	4.00	2.55	0.19	6.85	0.91	-2.37	1.24	-0.27	6.56	2.14	1.54	1.84	5.62	0.59	0.64	-0.02	1.22	6.91	13.92
Difference	-1.58	-0.30	0.13	-1.79	-0.47	0.06	-2.01	-2.39	-4.38	-0.69	0.57	-0.55	-0.68	1.26	1.77	1.20	4.20	3.78	-0.49

Performance Chart

Discount

Characteristics

PORTFOLIO Weighted Average Data
Discount 16.85%	1Yr Disc 11.51%	3Yr Disc 9.81%	5Yr Disc 8.14%	Rel Disc Range (3yr) 68.61%
Mkt Yield 10.91%	Lev Adj NAV Yield 10.04%	After Tax Yield* 8.98%	Est Tax Friction* 1.93%	3Yr NAV Volatiliy 9.74
1 Yr RoC 36.29%	3 Yr Dest RoC 26.97%	Leverage 28.30%	Non Lev Exp Ratio 1.99%	Beta (2yr) 0.59
Equity Exposure 24.87%	Bond Exposure 72.11%	# Holdings 33	Cash Weighted Duration 2.25
Comp NAV TR 1.72%	Comp Discount 19.04%	Net Assets (M) 898	Liquidity - 90d (K) 4,457
* Based on marginal tax rates of 25% and long-term capital gains rates of 15%.

Constituents

33 Funds

Ticker	Name	Sponsor	Allocation	Discount	Market Yield	RoC(1yr)	Leverage	Net Assets	Liquidity (90d)
GUT	Gabelli Util Tr	Gabelli	3.63	108.90	9.84	92.67	25.00	219	841
FCO	abrdn Glbl Incm Fd	abrdn	3.46	59.56	14.58	65.85	30.74	48	326
RCS	PIMCO Stgc Incm Fd	PIMCO	3.75	50.11	9.24	3.65	35.64	204	710
PTY	PIMCO Corp & Incm Opp Fd	PIMCO	3.50	26.92	10.01	16.89	18.71	1,824	7,239
GOF	Gghm Stgc Opp Fd	Guggenheim Funds	3.57	28.17	14.34	55.81	17.53	1,729	9,658
CHI	Calamos Convt Opp & Incm	Calamos	3.52	17.71	9.80	72.47	37.39	745	1,905
CRF	Cornerstone Tot Rtn Fd	Cornerstone	3.44	14.69	16.10	58.11	0.00	762	5,071
MCN	Madison Cov Call & Eq Stgc	Madison	3.34	5.52	9.92	43.20	0.00	145	282
ECC	Eagle Point Cr Co	Eagle Point	3.41	12.23	17.11	0.00	24.43	775	9,622
HPS	JH Pref Incm Fd III	John Hancock	3.49	9.49	8.35	15.27	37.35	461	756
VVR	Invsc Sr Incm Tr	Invesco	3.44	5.99	12.14	21.12	32.12	614	3,034
PAXS	PIMCO Access Incm Fd	PIMCO	3.43	2.13	11.67	17.20	42.86	663	2,394
PDO	PIMCO Dyn Incm Opp Fd	PIMCO	3.54	4.87	11.51	19.38	41.02	1,472	5,303
MPV	Barings Partcp Invstr	Barings	3.45	2.83	8.82	0.00	9.56	168	267
KIO	KKR Incm Opp Fd	KKR Credit	3.56	3.33	10.44	0.00	35.27	366	1,581
JCE	Nuv Core Eq Alpha Fd	Nuveen	3.49	1.10	8.72	68.64	0.00	234	559
ACP	abrdn Incm Cr Stgs Fd	abrdn	3.34	-2.11	18.52	40.70	29.22	762	2,601
EFT	EV Flt-Rt Incm Tr	Eaton Vance	3.49	1.82	10.56	0.00	37.00	345	1,064
PGP	PIMCO Glbl Stk+ & Incm Fd	PIMCO	3.53	1.20	10.94	12.35	18.01	86	339
BHK	BR Core Bnd Tr	BlackRock	3.59	3.31	8.18	36.45	35.04	572	1,469
EFR	EV Sr Flt-Rt Tr	Eaton Vance	3.50	1.63	11.09	0.98	34.00	376	1,212
ARDC	Ares Dyn Cr Alloc Fd	Ares	3.49	1.09	9.48	0.00	37.02	337	1,436
BLW	BR Ltd Dur Incm Tr	BlackRock	3.50	-0.36	9.71	9.53	41.12	502	1,264
AWP	abrdn Glbl Prmr Prop Fd	abrdn	3.71	3.31	11.82	71.32	16.23	336	1,444
EOI	EV Enh Eq Incm Fd	Eaton Vance	3.37	-1.73	8.58	4.67	0.00	769	1,518
HTGC	Hercules Capital	Hercules	1.61	81.69	7.57	0.00	47.40	1,886	19,015
MAIN	Main Street Cap Corp	Main Street Capital	1.57	69.80	5.81	0.00	43.04	2,554	18,560
CGBD	Carlyle Secured Lending	Carlyle	1.64	6.39	8.81	0.00	51.99	867	3,658
GLAD	Gladstone Cap Corp	Gladstone	1.59	20.20	8.32	0.00	45.66	431	2,515
CSWC	Cap Southwest Corp	Capital Southwest	1.53	54.58	8.89	0.00	49.52	748	7,516
BXSL	Blackstone Secur Lending Fd	Blackstone	1.54	16.13	10.16	0.00	49.27	5,023	27,101
ARCC	Ares Capital Corp	Ares	1.55	6.35	9.24	0.00	48.21	11,870	67,672
MSDL	MS Direct Lending Fd	MS Cap Patnr Advis	1.43	-5.56	10.25	0.00	43.71	1,848	1,437

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.