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03. Equity Income Index

Data as of

About the Index

(1) US Equity, Non-US Equity, Specialty Equity and Hybrid / Balanced Funds groupings according to CEFdata.com with regular distributions monthly or quarterly without a large year-end distribution in both of the past two calendar years. (2) Removing Preferred Equity, Single Country Funds. (3) Funds with US + Non-US Bonds exposure combined under 40%. (4) Top 50% ranked by 90-day average trading dollar ($) liquidity. (5) If there are only 1-3 funds in a group then combine all of these funds equal weight into a double allocation (estimated at 15.2% as each grouping is currently about 7.7% per group, but could change over time). (6) Remove current commodity funds as they are both liquidating in 1Q17; however, allow future commodity funds if they meet the other index criteria. For groups according to CEFdata.com with at least 3 funds, keep them grouped and give each group an equal weighting of the underlying funds. If there are less than 3 funds in the remaining group add them to a separate group. This group will have the double allocation mentioned previously. The index constituents will be rebalanced each quarter.

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 1,800.47 -0.22 -0.74 -1.58 2.53 8.87 12.75 2.55 7.37 5.68 -0.53 0.16 7.63
NAV 1,656.68 0.17 -0.09 -1.40 2.05 6.51 12.41 3.21 6.69 4.90 -0.38 0.16 5.32
Difference 0.40 0.64 0.18 -0.47 -2.37 -0.34 0.66 -0.68 -0.79 0.15 -0.00 -2.31
* Periods greater than 1 Year are annualized.      ** On Inception Date (12/30/16), Index Price was $1,000 and NAV was $1,000.00
2024 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2024
Price 0.72 2.26 4.34 7.46 -3.50 4.35 - - - - - - - - - - - - -
NAV -1.15 2.42 3.87 5.15 -3.30 3.97 - - - - - - - - - - - - -
Difference -1.87 0.16 -0.47 -2.31 0.21 -0.38 - - - - - - - - - - - - -
2023 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2023
Price 9.19 -3.51 -0.43 4.91 -0.05 -3.20 5.81 2.37 7.40 4.40 -3.77 -4.69 -4.24 -5.10 8.47 4.16 7.22 2.67 10.27
NAV 6.70 -3.92 0.78 3.33 1.25 -3.20 5.24 3.15 6.58 3.80 -3.06 -3.91 -3.31 -3.01 8.37 3.54 8.82 5.22 12.15
Difference -2.49 -0.41 1.21 -1.58 1.30 0.00 -0.57 0.78 -0.82 -0.60 0.71 0.77 0.93 2.09 -0.11 -0.62 1.60 2.55 1.88
2022 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2022
Price -2.02 -2.25 4.01 -0.39 -6.79 0.73 -8.34 -13.94 -14.27 8.02 -2.54 -11.87 -7.23 7.26 5.84 -5.10 7.73 -0.05 -14.31
NAV -2.83 -0.70 3.38 -0.26 -6.03 1.08 -8.53 -13.12 -13.35 7.03 -3.08 -9.48 -6.11 6.88 6.68 -4.17 9.26 2.59 -11.11
Difference -0.81 1.55 -0.63 0.13 0.76 0.34 -0.19 0.81 0.92 -0.99 -0.54 2.39 1.12 -0.38 0.84 0.93 1.52 2.64 3.20
2021 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2021
Price 2.36 5.25 4.55 12.64 4.83 3.58 1.25 9.94 23.83 -0.47 2.55 -3.35 -1.35 5.54 -3.44 3.93 5.92 4.48 29.38
NAV 0.78 3.58 3.86 8.42 4.66 2.18 0.70 7.69 16.76 0.17 1.56 -3.15 -1.46 5.20 -3.79 4.49 5.76 4.21 21.67
Difference -1.58 -1.68 -0.68 -4.21 -0.17 -1.40 -0.55 -2.25 -7.07 0.65 -0.99 0.20 -0.11 -0.34 -0.34 0.55 -0.16 -0.28 -7.71
2020 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2020
Price -1.07 -11.61 -23.74 -33.31 16.48 4.95 0.26 22.56 -18.26 2.57 3.56 -4.48 1.46 -1.90 17.64 4.67 20.79 22.55 0.17
NAV -1.90 -8.84 -21.85 -30.11 14.43 4.86 0.67 20.80 -15.58 3.98 3.08 -3.96 2.94 -0.78 13.06 4.26 16.96 20.40 1.65
Difference -0.83 2.76 1.88 3.19 -2.05 -0.09 0.42 -1.76 2.68 1.41 -0.48 0.52 1.49 1.12 -4.58 -0.41 -3.83 -2.15 1.47
2019 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2019
Price 13.70 1.76 1.62 17.58 2.12 -4.95 6.38 3.26 21.41 0.90 -2.93 3.04 0.91 1.27 1.15 3.56 6.07 7.04 29.96
NAV 9.97 1.97 1.63 13.96 1.41 -4.72 5.58 2.01 16.26 -0.12 -1.83 1.88 -0.11 1.39 0.96 3.70 6.16 6.04 23.28
Difference -3.73 0.20 0.01 -3.62 -0.71 0.22 -0.79 -1.24 -5.16 -1.02 1.10 -1.16 -1.02 0.13 -0.19 0.14 0.08 -1.00 -6.68
2018 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2018
Price 3.20 -4.81 -1.70 -3.44 2.61 0.83 -0.06 3.39 -0.17 2.50 1.36 -0.71 3.15 -9.03 2.81 -10.37 -16.17 -13.54 -13.68
NAV 3.73 -6.10 -1.10 -3.67 2.00 1.17 -0.22 2.97 -0.81 3.41 0.76 -0.39 3.80 -6.67 1.65 -8.04 -12.77 -9.46 -10.19
Difference 0.53 -1.29 0.60 -0.23 -0.60 0.35 -0.16 -0.42 -0.64 0.91 -0.60 0.33 0.65 2.35 -1.16 2.33 3.41 4.08 3.49
2017 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2017
Price 4.91 3.26 0.59 8.97 3.36 0.32 1.23 4.97 14.38 2.49 -1.14 2.88 4.24 -0.41 -0.55 3.11 2.12 6.45 21.76
NAV 2.39 2.74 0.54 5.76 0.87 0.23 1.09 2.21 8.10 2.35 -0.47 1.71 3.61 -0.10 1.33 1.64 2.89 6.60 15.23
Difference -2.53 -0.52 -0.05 -3.21 -2.49 -0.09 -0.13 -2.76 -6.29 -0.13 0.67 -1.18 -0.63 0.31 1.88 -1.46 0.77 0.15 -6.53
2016 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2016
Price -7.52 0.42 8.11 0.40 4.50 0.79 2.57 8.03 8.46 4.12 -0.03 0.12 4.21 -3.87 0.93 1.69 -1.33 2.83 11.52
NAV -6.13 -0.69 6.78 -0.46 3.18 1.08 1.58 5.95 5.46 3.29 -0.37 0.59 3.52 -2.77 0.50 2.31 -0.03 3.49 9.14
Difference 1.39 -1.11 -1.33 -0.86 -1.32 0.29 -0.98 -2.08 -3.00 -0.83 -0.33 0.47 -0.69 1.10 -0.43 0.61 1.30 0.67 -2.38
2015 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2015
Price -0.10 3.63 -2.06 1.40 1.80 -0.51 -3.74 -2.51 -1.15 -2.39 -5.93 -5.94 -13.63 9.45 -3.02 -2.77 3.20 -10.87 -11.89
NAV -0.60 3.35 -1.65 1.04 2.23 -0.11 -3.10 -1.05 -0.03 -0.45 -5.74 -4.87 -10.74 7.09 -1.92 -3.17 1.70 -9.22 -9.24
Difference -0.50 -0.28 0.41 -0.36 0.43 0.40 0.63 1.46 1.12 1.93 0.20 1.07 2.90 -2.36 1.10 -0.40 -1.50 1.65 2.65
2014 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2014
Price -1.51 4.96 0.98 4.40 2.35 3.00 2.66 8.23 12.99 -1.65 2.96 -4.09 -2.88 1.12 1.02 -2.65 -0.56 -3.43 9.11
NAV -1.24 4.35 0.79 3.87 1.79 2.16 2.83 6.93 11.07 -2.04 3.39 -3.91 -2.68 0.90 0.22 -1.33 -0.22 -2.90 7.85
Difference 0.26 -0.62 -0.19 -0.53 -0.56 -0.84 0.17 -1.29 -1.92 -0.39 0.43 0.18 0.20 -0.22 -0.79 1.32 0.34 0.53 -1.27
2013 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2013
Price 7.81 0.66 2.82 11.58 1.57 -0.60 -2.37 -1.43 9.99 2.86 -3.81 2.17 1.09 3.89 -1.03 2.03 4.89 6.04 16.63
NAV 5.12 0.15 2.55 7.96 2.56 -1.08 -2.50 -1.08 6.80 4.00 -2.71 3.70 4.93 3.29 0.31 1.52 5.19 10.38 17.88
Difference -2.69 -0.51 -0.27 -3.62 0.99 -0.48 -0.13 0.35 -3.19 1.14 1.10 1.53 3.84 -0.59 1.35 -0.51 0.30 4.34 1.25
2012 - Monthly Performance (%)
Jan Feb Mar Q1 Apr May Jun Q2 1H Jul Aug Sep Q3 Oct Nov Dec Q4 2H 2012
Price 8.89 4.10 0.22 13.60 0.39 -7.09 3.55 -3.42 9.72 3.36 2.34 2.56 8.50 -1.16 -1.80 0.32 -2.64 5.63 15.90
NAV 4.65 3.61 0.30 8.75 0.12 -7.27 3.73 -3.69 4.74 2.69 1.87 2.26 6.97 -0.16 -0.25 1.11 0.69 7.71 12.81
Difference -4.23 -0.49 0.07 -4.85 -0.26 -0.18 0.18 -0.27 -4.98 -0.68 -0.47 -0.30 -1.52 1.00 1.56 0.79 3.33 2.08 -3.09

Performance Chart

Discount

Characteristics

PORTFOLIO
Weighted Average Data
Discount
-9.44%
1Yr Disc
-9.80%
3Yr Disc
-6.92%
5Yr Disc
-6.81%
Rel Disc Range (3yr)
36.33%
Mkt Yield
10.44%
Lev Adj NAV Yield
8.58%
After Tax Yield*
9.45%
Est Tax Friction*
0.99%
3Yr NAV Volatiliy
19.12
1 Yr RoC
53.40%
3 Yr Dest RoC
31.97%
Leverage
11.91%
Non Lev Exp Ratio
1.39%
Beta (2yr)
0.88
Equity Exposure
88.14%
Bond Exposure
9.28%
# Holdings
60
Cash Weighted Duration
0.04
Comp NAV TR
0.64%
Comp Discount
-0.68%
Net Assets (M)
1,030
Liquidity - 90d (K)
2,361
* 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


60 Funds

Ticker Name Sponsor Allocation Discount Market Yield RoC(1yr) Leverage Net Assets Liquidity (90d)
BDJ BR Enh Eq Div Tr BlackRock 0.85 -11.82 8.37 17.46 0.00 1,701 3,477
EXG EV Tx-Mgd Glbl Divr Eq Incm Eaton Vance 0.90 -11.09 9.36 73.19 0.00 2,901 3,952
BST BR Sci & Tech Tr BlackRock 0.88 -4.40 8.03 25.37 0.00 1,357 3,406
ETY EV Tx-Mgd Divr Eq Incm Fd Eaton Vance 0.92 -4.22 8.45 0.00 0.00 2,314 3,342
ETV EV Tx-Mgd By-Wrt Opp Fd Eaton Vance 0.89 -7.40 8.99 68.00 0.00 1,672 2,609
QQQX Nuv Nasdaq 100 Dyn Owrt Fd Nuveen 0.88 -11.33 6.90 47.77 0.00 1,341 2,456
NFJ Virtus Div Int & Prm Stgy Fd Virtus 0.81 -13.91 9.28 2.00 0.00 1,329 2,414
BXMX Nuv S&P 500 By-Wrt Inc Fd Nuveen 0.87 -10.68 7.16 58.63 0.00 1,542 2,228
ETW EV Tx-Mgd Glbl By-Wrt Opp Eaton Vance 0.87 -12.34 9.67 50.56 0.00 1,030 1,995
EOS EV Enh Eq Incm Fd II Eaton Vance 0.93 -4.66 8.42 36.55 0.00 1,191 1,839
BOE BR Enh Glbl DivTr BlackRock 0.87 -13.67 7.21 64.43 0.00 747 1,599
KYN KA Nrg Infra Fd Kayne Anderson 1.42 -11.68 8.49 8.49 22.62 1,984 4,689
CEM CB MLP & Midstream Fd Franklin Templeton 1.34 -9.25 6.84 0.00 13.61 659 1,361
NML NB Nrg Infra & Incm Fd Neuberger Berman 1.41 -12.51 9.20 53.34 17.45 493 1,768
TYG Tortoise Nrg Infra Corp Tortoise 1.48 -17.59 8.55 54.05 20.90 434 1,414
SRV NXG Cushing Midstream Nrg Fd Cushing 1.39 1.51 12.93 94.17 25.86 119 1,105
EMO CB Nrg Midstream Opp Fd Franklin Templeton 1.36 -9.27 6.65 0.00 14.73 568 1,010
RQI C&S Qlty Incm Rty Fd Cohen&Steers 2.26 -7.14 8.39 30.51 29.40 1,656 4,205
IGR CBRE Clr Glbl Rel-Est Incm Fd CBRE Invst Mgmt 2.25 -6.00 14.37 42.06 29.35 746 2,362
AWP abrdn Glbl Prmr Prop Fd abrdn 2.31 -1.04 12.60 73.61 17.60 329 998
RLTY C&S Rel-Est Opp & Incm Fd Cohen&Steers 2.31 -8.32 9.29 69.99 34.60 259 910
BSTZ BR Sci & Tech Trm Tr BlackRock 1.60 -13.42 12.93 93.26 0.00 1,723 4,476
AOD abrdn Tot Dyn Div Fd abrdn 1.60 -14.78 8.25 29.86 5.37 1,034 2,069
BGY BR Enh Intl DivTr BlackRock 1.57 -13.06 7.43 59.09 0.00 630 1,078
IGD Voya Glbl Eq Div & Prm Opp Voya 1.56 -11.99 11.67 71.76 0.00 461 1,134
LGI Lzrd Glbl Tot Rtn & Incm Fd Lazard 1.61 -10.08 7.60 77.96 31.40 239 660
HGLB Highland Glbl Alloc Fd NexPoint 1.53 -34.76 13.28 18.78 4.63 256 511
BMEZ BR Health Sci Trm Tr BlackRock 2.17 -14.12 14.41 100.00 0.00 1,848 3,735
THQ abrdn Health Opp Fd abrdn 2.43 -7.00 10.62 53.76 19.60 904 2,631
HQH abrdn Health Invstr abrdn 2.36 -13.00 13.99 42.49 0.00 982 2,470
THW abrdn Wld Health Fd abrdn 2.37 4.98 10.71 49.82 20.10 515 1,202
BCX BR Res & Com Stgy Tr BlackRock 2.35 -13.86 6.95 69.20 0.00 877 2,009
PDX PIMCO Dyn Incm Stgy Fd PIMCO 2.39 -12.71 6.45 18.34 17.86 1,080 1,949
GGN GAMCO Glbl Gd NtrRes Incm Gabelli 2.49 -0.25 8.93 85.89 11.00 623 1,860
ECAT BR ESG Cap Alloc Trm Tr BlackRock 1.36 -8.45 20.68 79.13 0.00 1,918 4,198
CSQ Calamos Stgc Tot Rtn Fd Calamos 1.41 -2.03 7.30 41.67 31.70 2,760 3,195
NIE Virtus Eq & Convt Incm Fd Virtus 1.37 -9.05 8.77 57.29 0.00 695 1,459
TBLD Thornburg Incm Bldr Opp Tr Thornburg Inv Mgmt 1.34 -13.01 7.86 15.68 0.00 587 1,303
ZTR Virtus Tot Rtn Fd Virtus 1.31 -14.35 11.30 93.08 31.28 383 1,643
RIV RiverNorth Opp Fd RiverNorth 1.37 -4.78 12.93 84.28 31.99 269 816
SCD LMP Cap & Incm Fd Franklin Templeton 1.35 -8.44 8.86 42.92 19.95 286 669
CLM Cornerstone Stgc Val Fd Cornerstone 1.39 6.67 17.33 59.43 0.00 1,690 11,095
BIGZ BR Innovation & Gwth Trm Tr BlackRock 1.21 -14.91 14.71 100.00 0.00 1,912 4,730
USA Liberty All-Star Eq Fd ALPS 1.30 -4.28 10.73 0.00 0.00 1,960 4,381
CRF Cornerstone Tot Rtn Fd Cornerstone 1.40 13.22 16.33 54.50 0.00 757 5,481
RVT Royce Small-Cap Tr Franklin Templeton 1.26 -13.53 7.89 0.00 1.87 1,863 2,748
NBXG NB Nxt Gen Connectivity Fd Neuberger Berman 1.49 -13.25 9.40 100.00 0.00 1,159 3,249
ASG Liberty All-Star Gwth Fd ALPS 1.31 -9.69 9.20 25.00 0.00 342 1,064
UTG Reaves Util Incm Fd W.H. Reaves 1.62 0.81 8.32 5.94 20.93 2,123 8,143
UTF C&S Infra Fd Cohen&Steers 1.52 -1.01 8.28 20.12 30.00 2,187 4,421
DNP DNP Sel Incm Fd Virtus 1.43 2.27 9.63 21.61 28.20 2,871 5,875
MEGI MainStay CBRE Glbl Infra MTrnd Trm New York Life 1.58 -13.27 12.08 25.57 25.00 745 1,661
ASGI abrdn Glbl Infra Incm Fd abrdn 1.67 -7.99 13.58 11.58 0.00 508 1,354
DPG D&P Util & Infra Fd Virtus 1.57 -13.06 8.76 90.63 28.93 421 1,258
IAE Voya AP Hi Div Eq Incm Fd Voya 3.29 -13.64 12.32 82.96 0.00 81 197
AEF abrdn Emrg Mkt Eq Incm Fd abrdn 3.28 -15.25 7.58 88.02 10.20 316 516
GDV Gabelli Div & Incm Tr Gabelli 3.11 -15.74 5.84 21.33 12.00 2,413 3,333
EVT EV Tx-Adv Div Incm Fd Eaton Vance 3.12 -10.51 8.53 6.91 18.50 1,928 2,485
CUBA Herzfeld Caribbean Basin Fd Herzfeld Cuba 2.90 -25.33 23.85 100.00 0.00 46 149
BTO JH Fin Opp Fd John Hancock 2.84 -2.01 9.71 17.21 18.64 538 1,387

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 %