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
See also: Municipal CEF Index
Performance as of 10.31.2023
RiverNorth Taxable CEF Index (Price) Performance |
-4.68% |
-10.69% |
-0.17% | 0.14% |
6.59% |
-9.41% |
RiverNorth Taxable CEF Index (NAV) Performance |
-2.33% |
-6.39% |
2.32% | 4.52% |
6.01% |
- - |
Index Returns as of 10.31.2023
Average Discount1 as of 10.31.2023
Asset Class Weightings as of 10.31.2023
Specialized Equity |
17.83% |
Covered Call |
11.81% |
US Equity |
11.47% |
All Hybrid |
9.46% |
Bank Loans |
7.13% |
Preferreds |
6.75% |
High Yield |
6.65% |
Multi-Sector |
6.49% |
Global Income |
4.11% |
Investment Grade |
4.03% |
Real Estate |
3.67% |
Non-US Equity |
2.70% |
Global Equity |
2.61% |
Convertibles |
2.51% |
Emerging Income |
1.40% |
Limited Duration |
1.39% |
|
Specialized Equity |
|
17.83% |
|
Covered Call |
|
11.81% |
|
US Equity |
|
11.47% |
|
All Hybrid |
|
9.46% |
|
Bank Loans |
|
7.13% |
|
Preferreds |
|
6.75% |
|
High Yield |
|
6.65% |
|
Multi-Sector |
|
6.49% |
|
Global Income |
|
4.11% |
|
Investment Grade |
|
4.03% |
|
Real Estate |
|
3.67% |
|
Non-US Equity |
|
2.70% |
|
Global Equity |
|
2.61% |
|
Convertibles |
|
2.51% |
|
Emerging Income |
|
1.40% |
|
Limited Duration |
|
1.39% |
Constituents as of 10.31.2023
Symbol |
Weighting |
Fund Name |
NRGX |
1.76% | PIMCO Energy & Tactical Credit Opps |
FEI |
1.62% | First Trust MLP & Energy Inc Fund |
BGR |
1.54% | BlackRock Energy & Resources |
VVR |
1.52% | Invesco Senior Income Trust |
OXLC |
1.51% | Oxford Lane Capital Corp |
JQC |
1.46% | Nuveen Credit Strategies Income |
KYN |
1.44% | Kayne Anderson Energy Infrastructure |
GGN |
1.44% | GAMCO Glb Gold Natural Res & Income |
IFN |
1.44% | India Fund Inc |
JPC |
1.44% | Nuveen Pref & Income Securities Fund |
DHY |
1.43% | Credit Suisse High Yield Bond |
KMF |
1.43% | Kayne Anderson NextGen Energy&Infras |
ECC |
1.42% | Highland Income Fund |
HYT |
1.41% | BlackRock Corp High Yield |
BCX |
1.40% | BlackRock Resources & Commdty |
MIN |
1.40% | MFS® Intermediate Income |
EMD |
1.40% | Western Asset Emerg Mkts Debt |
DHF |
1.40% | BNY Mellon High Yield Strategies Fund |
ADX |
1.39% | Adams Diversified Equity Fund |
NML |
1.39% | NB MLP and Energy Income Fund Inc. |
PDT |
1.39% | First Trust Inter Dur Pref & Income Fund |
WDI |
1.39% | Western Asset Diversified Income Fund |
EVV |
1.39% | EV Limited Duration Income |
IGD |
1.38% | Voya Global Equity Dividend&Premium Opp |
DSL |
1.38% | DoubleLine Income Solutions |
BCAT |
1.37% | BlackRock Capital Allocation Trust Ordin |
PTY |
1.37% | PIMCO Corporate & Income Opps |
FFC |
1.36% | Cohen & Steers Tax-adv Prd Sec and Inc |
BTZ |
1.36% | BlackRock Credit Allocation Inc |
PTA |
1.35% | Nuveen Pref & Income Opps Fund |
ETJ |
1.34% | EV Risk-Mgd Divers Equity Inc |
FAX |
1.33% | abrdn Asia-Pacific Income |
USA |
1.33% | Liberty All-Star Equity |
UTG |
1.33% | Reaves Utility Income |
PDI |
1.32% | PIMCO Dynamic Income |
BST |
1.32% | BlackRock Science and Technology Trust |
ETV |
1.31% | EV Tax-Managed Buy-Write Opps |
ETY |
1.31% | EV Tax-Managed Div Equity Income |
NBXG |
1.31% | Neuberger Brmn Nxt Gnrtn Cnnctvty |
EXG |
1.31% | EV Tax-Mgd Gbl Div Equity Income |
AOD |
1.31% | abrdn Total Dynamic Dividend |
EOD |
1.31% | Allspring Global Dividend Opportunity |
CIK |
1.30% | Credit Suisse Asset Mgmt Income |
BGY |
1.30% | BlackRock Enhanced Intl Div Trust |
BKT |
1.30% | BlackRock Income Trust |
PFN |
1.30% | PIMCO Income Strategy Fund II |
CHW |
1.30% | Calamos Global Dynamic Income |
PHK |
1.29% | PIMCO High Income |
ETW |
1.29% | EV Tax-Managed Glb B-W Opps |
RIV |
1.29% | RiverNorth Opportunities |
CSQ |
1.29% | Calamos Strategic Total Return |
NFJ |
1.29% | Virtus Divid, Interest & Prem |
RVT |
1.28% | Royce Value Trust |
DNP |
1.28% | DNP Select Income |
BDJ |
1.27% | BlackRock Enhanced Equity Div |
AWP |
1.27% | abrdn Global Premier Property |
NCV |
1.26% | Virtus Convertible & Income Fund |
GLO |
1.26% | Clough Global Opportunities |
TDF |
1.26% | Templeton Dragon Fund |
ASG |
1.26% | Liberty All-Star Growth |
CRF |
1.26% | Cornerstone Total Return |
CLM |
1.24% | Cornerstone Strategic Value |
NCZ |
1.24% | Virtus Convertible & Income Fund II |
UTF |
1.24% | Cohen & Steers Infrastructure |
RQI |
1.22% | Cohen & Steers Qty Inc Realty |
HFRO |
1.21% | Nuveen Senior Income |
FPF |
1.21% | Flah&Crum Pref Securities Income |
BIGZ |
1.20% | BlackRock Innovation and Growth Trust |
BMEZ |
1.19% | BlackRock Health Sciences Trust II |
BSTZ |
1.19% | BlackRock Science & Technology Trust II |
GAB |
1.19% | Gabelli Equity Trust |
IGR |
1.18% | CBRE Global Real Estate Income |
ZTR |
1.18% | Virtus Total Return Fund Inc. |
GOF |
1.18% | Guggenheim Strategic Opp Fund |
RA |
1.10% | Brookfield Real Assets Income 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).