Taxable CEF Index

About the Taxable CEF Index
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 6.30.2021

1 Month 3 Month YTD 1 Year 3 Year† Weighted
Average
Discount
RiverNorth Taxable CEF Index (Price) Performance 2.47% 9.64% 20.23% 44.08% 9.62% -0.33%
RiverNorth Taxable CEF Index (NAV) Performance 1.46% 7.84% 13.54% 33.29% 8.14% - -

Index Returns as of 6.30.2021

https://www.rivernorth.com/images/2021-06-30-cef-index-taxable-returns.svg

Average Discount1 as of 6.30.2021

https://www.rivernorth.com/images/2021-06-30-cef-index-taxable-discounts.svg

Asset Class Weightings as of 6.30.2021

Asset Class Allocation
Specialized Equity 19.11%
Covered Call 11.54%
High Yield 8.71%
All Hybrid 8.67%
US Equity 8.48%
Bank Loans 8.19%
Preferreds 5.93%
Multi-Sector 5.05%
Investment Grade (IG) 4.70%
Real Estate 4.44%
Global Income 3.37%
Convertibles 2.82%
Global Equity 2.78%
Non-US Equity 2.66%
Limited Duration 2.42%
Emerging Income 1.14%
Specialized Equity 19.11%
Covered Call 11.54%
High Yield 8.71%
All Hybrid 8.67%
US Equity 8.48%
Bank Loans 8.19%
Preferreds 5.93%
Multi-Sector 5.05%
Investment Grade (IG) 4.70%
Real Estate 4.44%
Global Income 3.37%
Convertibles 2.82%
Global Equity 2.78%
Non-US Equity 2.66%
Limited Duration 2.42%
Emerging Income 1.14%

Constituents as of 6.30.2021

# Symbol Weighting Fund Name
1 OXLC 1.95%Oxford Lane Capital Corp
2 MIE 1.92%Cohen & Steers MLP Inc&Energy Opp
3 BSTZ 1.79%BlackRock Science & Technology Trust II
4 NRGX 1.76%PIMCO Energy & Tactical Credit Opps
5 DSE 1.76%Duff & Phelps Sel Enrg MLP & Midstm Enrg
6 KYN 1.69%Kayne Anderson MLP/Midstream
7 NML 1.65%NB MLP and Energy Income Fund Inc.
8 KMF 1.63%Kayne Anderson MidstreamEnergy
9 USA 1.62%Liberty All-Star Equity
10 CHW 1.51%Calamos Global Dynamic Income
11 AWP 1.51%Aberdeen Global Premier Property
12 IGR 1.49%CBRE Clarion Global Real Est Income
13 RVT 1.49%Royce Value Trust
14 GDV 1.47%Gabelli Dividend & Income
15 IFN 1.46%India Fund Inc
16 ETG 1.46%EV Tax Adv Global Dividend Inc
17 CSQ 1.46%Calamos Strategic Total Return
18 FEI 1.45%First Trust MLP & Energy Inc Fund
19 RQI 1.44%Cohen & Steers Qty Inc Realty
20 NCV 1.43%AllianzGI Convertible & Income
21 DHF 1.43%BNY Mellon High Yield Strategies Fund
22 EVT 1.42%EV Tax Advantaged Dividend Inc
23 GAB 1.40%Gabelli Equity Trust
24 NCZ 1.39%AllianzGI Convertible & Inc II
25 EXG 1.39%EV Tax-Mgd Gbl Div Equity Income
26 HFRO 1.38%Highland Income Fund
27 BDJ 1.37%BlackRock Enhanced Equity Div
28 BGR 1.34%BlackRock Energy & Resources
29 BCX 1.32%BlackRock Resources & Commdty
30 AOD 1.32%Aberdeen Total Dynamic Dividend
31 ETY 1.31%EV Tax-Managed Div Equity Income
32 PHK 1.31%PIMCO High Income
33 PTY 1.30%PIMCO Corporate & Income Opps
34 UTF 1.30%Cohen & Steers Infrastructure
35 NHF 1.29%NexPoint Strategic Opportunities Fund
36 BXMX 1.29%Nuveen S&P 500 Buy-Write Income
37 PFN 1.29%PIMCO Income Strategy Fund II
38 DHY 1.27%Credit Suisse High Yield Bond
39 VVR 1.27%Invesco Senior Income Trust
40 PDT 1.27%JH Premium Dividend Fund
41 ETW 1.27%EV Tax-Managed Glb B-W Opps
42 CLM 1.26%Cornerstone Strategic Value
43 BGY 1.26%BlackRock Enhanced Intl Div Trust
44 PCI 1.25%PIMCO Dynamic Credit and Mortgage Inc
45 NSL 1.25%Nuveen Senior Income
46 EAD 1.25%Wells Fargo Inc Opp
47 CRF 1.24%Cornerstone Total Return
48 IGD 1.24%Voya Global Equity Dividend&Premium Opp
49 ZTR 1.23%Virtus Total Return Fund Inc.
50 AWF 1.23%AllianceBernstein Glb High Inc
51 JQC 1.23%Nuveen Credit Strategies Income
52 ETJ 1.22%EV Risk-Mgd Divers Equity Inc
53 BLW 1.22%BlackRock Limited Duration Inc
54 HYT 1.22%BlackRock Corp High Yield
55 RCS 1.21%PIMCO Strategic Income
56 CAF 1.20%MS China A Share
57 PDI 1.20%PIMCO Dynamic Income
58 EVV 1.20%EV Limited Duration Income
59 JPC 1.20%Nuveen Pref & Income Opps Fund
60 DSL 1.19%DoubleLine Income Solutions
61 GGN 1.19%GAMCO Glb Gold Natural Res & Income
62 BTZ 1.17%BlackRock Credit Allocation Inc
63 ETV 1.17%EV Tax-Managed Buy-Write Opps
64 HIX 1.17%Western Asset High Inc Fund II
65 FPF 1.16%First Trust Inter Dur Pref & Income Fund
66 FAX 1.16%Aberdeen Asia-Pacific Income
67 JPS 1.16%Nuveen Pref & Income Securities Fund
68 EMD 1.14%Western Asset Emerg Mkts Debt
69 HIO 1.14%Western Asset High Income Opp
70 UTG 1.12%Reaves Utility Income
71 FFC 1.12%Flah&Crum Pref Securities Income
72 BRW 1.11%Saba Capital Income & Opportunities Fund
73 BKT 1.02%BlackRock Income Trust
74 GIM 1.01%Templeton Global Income
75 DNP 0.96%DNP Select Income

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).

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