Taxable CEF Index

About
Performance
Index Returns
Average Discount
Asset Class Weightings
Constituents
Disclosures

About the Index

The RiverNorth Closed-End Fund ("CEF") Index is an equal weighted index of 75 taxable closed-end funds. The rules-based index has two objectives: 1) to ensure the index constituents provide asset class exposures similar to the broader taxable closed-end fund market, and, 2) to ensure the index constituents have trading liquidity. To accomplish these objectives, the RiverNorth methodology weights the asset classes based on their respective net asset values within the taxable closed-end fund market and second, selects the most liquid closed-end funds within each asset class, and equally weights each security to represent the asset class in the index. The index is rebalanced annually on June 30th.

For more information: info@rivernorth.com

Performance as of 12.31.2021

1 Month 3 Month 1 Year 3 Year Weighted
Average
Discount
RiverNorth Taxable CEF Index (Price) Performance 2.28% 4.27% 23.56% 14.58% -0.83%
RiverNorth Taxable CEF Index (NAV) Performance 3.37% 4.15% 17.79% 11.60% - -

Index Returns as of 12.31.2021

https://www.rivernorth.com/images/2021-12-31-cef-index-taxable-returns.svg

Average Discount1 as of 12.31.2021

https://www.rivernorth.com/images/2021-12-31-cef-index-taxable-discounts.svg

Asset Class Weightings as of 12.31.2021

Asset Class Allocation
Specialized Equity 18.19%
US Equity 11.77%
Covered Call 11.23%
All Hybrid 9.38%
High Yield 7.78%
Bank Loans 6.74%
Preferreds 5.25%
Investment Grade (IG) 4.99%
Multi-Sector 4.79%
Real Estate 4.49%
Non-US Equity 3.80%
Global Income 3.74%
Global Equity 2.73%
Convertibles 2.57%
Limited Duration 1.34%
Emerging Income 1.20%
Specialized Equity 18.19%
US Equity 11.77%
Covered Call 11.23%
All Hybrid 9.38%
High Yield 7.78%
Bank Loans 6.74%
Preferreds 5.25%
Investment Grade (IG) 4.99%
Multi-Sector 4.79%
Real Estate 4.49%
Non-US Equity 3.80%
Global Income 3.74%
Global Equity 2.73%
Convertibles 2.57%
Limited Duration 1.34%
Emerging Income 1.20%

Constituents as of 12.31.2021

Symbol Weighting Fund Name
CLM 1.72%Cornerstone Strategic Value
CRF 1.69%Cornerstone Total Return
RQI 1.55%Cohen & Steers Qty Inc Realty
IGR 1.49%CBRE Clarion Global Real Est Income
ADX 1.46%Adams Diversified Equity Fund
AWP 1.45%Aberdeen Global Premier Property
EVT 1.45%NexPoint Strategic Opportunities Fund
ETY 1.45%EV Tax-Managed Div Equity Income
OXLC 1.43%Oxford Lane Capital Corp
CSQ 1.43%Calamos Strategic Total Return
NFJ 1.42%Virtus Divid, Interest & Prem
RVT 1.42%Royce Value Trust
GAB 1.42%Gabelli Equity Trust
ASG 1.42%Liberty All-Star Growth
IGD 1.41%Voya Global Equity Dividend&Premium Opp
EXG 1.41%EV Tax-Mgd Gbl Div Equity Income
BDJ 1.40%BlackRock Enhanced Equity Div
DNP 1.40%DNP Select Income
NML 1.39%NB MLP and Energy Income Fund Inc.
ETW 1.39%EV Tax-Managed Glb B-W Opps
ETV 1.39%EV Tax-Managed Buy-Write Opps
EOD 1.38%Wells Fargo Global Dividend Opportunity
UTG 1.38%Reaves Utility Income
DPG 1.38%Duff & Phelps Utility and Infra Fund Inc
NRGX 1.37%PIMCO Energy & Tactical Credit Opps
IFN 1.37%India Fund Inc
GDV 1.37%Gabelli Dividend & Income
HGLB 1.36%Highland Global Allocation Fund
HYT 1.36%BlackRock Corp High Yield
BXMX 1.36%Nuveen S&P 500 Buy-Write Income
JFR 1.36%Nuveen Floating Rate Income
BHK 1.35%BlackRock Core Bond
AOD 1.35%Aberdeen Total Dynamic Dividend
EVV 1.34%EV Limited Duration Income
NSL 1.34%Nuveen Senior Income
ZTR 1.33%Virtus Total Return Fund Inc.
DHY 1.33%Credit Suisse High Yield Bond
PDT 1.33%JH Premium Dividend Fund
UTF 1.33%Cohen & Steers Infrastructure
RA 1.32%Brookfield Real Assets Income Fund Inc.
HIO 1.32%Western Asset High Income Opp
BCX 1.32%BlackRock Resources & Commdty
JPS 1.31%Nuveen Pref & Income Securities Fund
FPF 1.31%First Trust Inter Dur Pref & Income Fund
JPC 1.31%Nuveen Pref & Income Opps Fund
VVR 1.31%Invesco Senior Income Trust
CIK 1.31%Credit Suisse Asset Mgmt Income
JQC 1.30%Nuveen Credit Strategies Income
BSTZ 1.30%BlackRock Science & Technology Trust II
MIN 1.30%MFS® Intermediate Income
BTZ 1.30%BlackRock Credit Allocation Inc
NCZ 1.29%Virtus AllianzGI Convert & Inc Fund II
NCV 1.28%Virtus AllianzGI Convert & Inc Fund
BGR 1.28%BlackRock Energy & Resources
IAF 1.28%Aberdeen Australia Equity
KMF 1.28%Kayne Anderson MidstreamEnergy
GGN 1.27%GAMCO Glb Gold Natural Res & Income
GIM 1.27%Templeton Global Income
USA 1.26%Liberty All-Star Equity
FPL 1.25%First Trust New Opps MLP & Energy
CHW 1.24%Calamos Global Dynamic Income
FEI 1.24%First Trust MLP & Energy Inc Fund
PDI 1.23%PIMCO Dynamic Income
PHK 1.22%PIMCO High Income
GLO 1.21%Clough Global Opportunities
EDD 1.20%MS Emerging Markets Domestic
BKT 1.20%BlackRock Income Trust
KYN 1.18%Kayne Anderson MLP/Midstream
PFN 1.18%PIMCO Dynamic Credit and Mortgage Inc
BMEZ 1.18%BlackRock Health Sciences Trust II
FAX 1.16%Aberdeen Asia-Pacific Income
GOF 1.16%Guggenheim Strategic Opp Fund
IHD 1.15%Voya Emerging Markets High Dividend Eq
DHF 1.13%BNY Mellon High Yield Strategies Fund
PTY 1.13%PIMCO Corporate & Income Opps

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).