About the Index
The RiverNorth Municipal Closed-End Fund ("CEF") Index is an equal weighted index of 50 national municipal
closed-end funds. The
rules-based index has two objectives: 1) to ensure the index constituents reflect the national municipal
closed-end fund market as a whole, and, 2) to ensure the index constituents have trading
liquidity. To accomplish these objectives, the RiverNorth methodology selects the 50 most liquid national
municipal closed-end funds and equally weights each security in the index. The index is rebalanced annually
on June 30th.
For more information: info@rivernorth.com
See also: Taxable CEF Index
Performance as of 12.31.2022
|
1 Mo |
3 Mo |
1 Year |
3 Year† |
Weighted Average Discount |
RiverNorth Municipal CEF Index (Price) Performance |
-2.47% |
5.72% |
-24.26% |
-4.16% |
-7.41% |
RiverNorth Municipal CEF Index (NAV) Performance |
-0.61% |
5.47% |
-18.21% |
-3.03% |
- - |
1 Month |
-2.47% |
3 Month |
5.72% |
1 Year |
-24.26% |
3 Year |
-4.16% |
Weighted Average Discount |
-7.41% |
RiverNorth Municipal CEF Index (NAV) Performance |
1 Month |
-0.61% |
3 Month |
5.47% |
1 Year |
-18.21% |
3 Year |
-3.03% |
Index Returns as of 12.31.2022
Average Discount1 as of 12.31.2022
Constituents as of 12.31.2022
Symbol |
Weighting |
Fund Name |
NXP |
2.17% |
Nuveen Select Tax-Free Income Portfolio |
NID |
2.15% |
Nuveen Intermediate Duration Municipal Term Fund |
PCK |
2.13% |
PIMCO California Municipal Income Fund II |
VKQ |
2.09% |
Invesco Municipal Trust |
OIA |
2.08% |
Invesco Municipal Income Opportunities Trust |
EIM |
2.08% |
Eaton Vance Municipal Bond Fund |
NEA |
2.07% |
Nuveen AMT-Free Quality Municipal Income Fund |
NZF |
2.06% |
Nuveen Municipal Credit Income Fund |
MYI |
2.06% |
BlackRock MuniYield Quality Fund III, Inc. |
VMO |
2.06% |
Invesco Municipal Opportunity Trust |
MHD |
2.05% |
BlackRock MuniHoldings Fund, Inc. |
NUV |
2.05% |
Nuveen Municipal Value Fund, Inc. |
VGM |
2.05% |
Invesco Trust for Investment Grade Municipals |
PMM |
2.04% |
Putnam Managed Municipal Income Trust |
NKX |
2.04% |
Nuveen California AMT-Free Quality Municipal Income Fund |
BTT |
2.04% |
BlackRock Municipal 2030 Target Term Trust |
MUI |
2.04% |
BlackRock Municipal Income Fund, Inc. |
MMU |
2.04% |
Western Asset Managed Municipals Fund Inc. |
PMX |
2.04% |
PIMCO Municipal Income Fund III |
MFM |
2.03% |
MFS Municipal Income Trust |
NAD |
2.03% |
Nuveen Quality Municipal Income Fund |
RFMZ |
2.02% |
RiverNorth Flexible Municipal Income Fund II, Inc. |
MVF |
2.02% |
BlackRock MuniVest Fund, Inc. |
IIM |
2.01% |
Invesco Value Municipal Income Trust |
BFK |
2.01% |
BlackRock Municipal Income Trust |
BLE |
2.01% |
BlackRock Municipal Income Trust II |
MYD |
2.00% |
BlackRock MuniYield Fund, Inc. |
CMU |
2.00% |
MFS High Yield Municipal Trust |
DSM |
2.00% |
BNY Mellon Strategic Municipal Bond Fund, Inc. |
LEO |
1.99% |
BNY Mellon Strategic Municipals, Inc. |
NRK |
1.99% |
Nuveen New York AMT-Free Quality Municipal Income Fund |
CXE |
1.99% |
MFS High Income Municipal Trust |
NVG |
1.99% |
Nuveen AMT-Free Municipal Credit Income Fund |
IQI |
1.98% |
Invesco Quality Municipal Income Trust |
PMO |
1.98% |
Putnam Municipal Opportunities Trust |
MYN |
1.96% |
BlackRock MuniYield New York Quality Fund, Inc. |
MQY |
1.96% |
BlackRock MuniYield Quality Fund, Inc. |
VKI |
1.95% |
Invesco Advantage Municipal Income Trust II |
PMF |
1.95% |
PIMCO Municipal Income Fund |
NDMO |
1.95% |
Nuveen Dynamic Municipal Opportunities Fund |
MUA |
1.94% |
BlackRock MuniAssets Fund, Inc. |
EVN |
1.93% |
Eaton Vance Municipal Income Trust |
NMCO |
1.93% |
Nuveen Municipal Credit Opportunities Fund |
MUC |
1.92% |
BlackRock MuniHoldings California Quality Fund, Inc. |
NAC |
1.92% |
Nuveen California Quality Municipal Income Fund |
VCV |
1.92% |
Invesco California Value Municipal Income Trust |
NMZ |
1.90% |
Nuveen Municipal High Income Opportunity Fund |
PML |
1.82% |
PIMCO Municipal Income Fund II |
MUJ |
1.80% |
BlackRock MuniHoldings New Jersey Quality Fund, Inc. |
DMB |
1.73% |
BNY Mellon Municipal Bond Infrastructure Fund, Inc. |
Disclosures
The index was created and developed by RiverNorth Capital Management, LLC. RiverNorth does not guarantee the accuracy or the completeness of the index or any data included therein and RiverNorth shall have no liability for any errors, omissions or interruptions therein. RiverNorth 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. RiverNorth 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 RiverNorth 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.
1 Discounts are the result of a closed-end fund's market price deviating from its Net Asset Value (NAV).