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 5.31.2023
RiverNorth Taxable CEF Index (Price) Performance |
-2.04% |
-3.85% |
2.66% | -7.26% |
8.64% |
-6.98% |
RiverNorth Taxable CEF Index (NAV) Performance |
-1.75% |
-0.52% |
2.48% | -4.52% |
8.17% |
- - |
Index Returns as of 5.31.2023
Average Discount1 as of 5.31.2023
Asset Class Weightings as of 5.31.2023
Specialized Equity |
17.70% |
Covered Call |
12.50% |
US Equity |
12.48% |
All Hybrid |
8.93% |
High Yield |
6.87% |
Multi-Sector |
6.84% |
Bank Loans |
6.63% |
Preferreds |
5.94% |
Investment Grade (IG) |
4.18% |
Global Income |
4.13% |
Real Estate |
3.34% |
Global Equity |
2.75% |
Convertibles |
2.64% |
Non-US Equity |
2.39% |
Emerging Income |
1.39% |
Limited Duration |
1.29% |
|
|
Specialized Equity |
|
17.70% |
|
|
Covered Call |
|
12.50% |
|
|
US Equity |
|
12.48% |
|
|
All Hybrid |
|
8.93% |
|
|
High Yield |
|
6.87% |
|
|
Multi-Sector |
|
6.84% |
|
|
Bank Loans |
|
6.63% |
|
|
Preferreds |
|
5.94% |
|
|
Investment Grade (IG) |
|
4.18% |
|
|
Global Income |
|
4.13% |
|
|
Real Estate |
|
3.34% |
|
|
Global Equity |
|
2.75% |
|
|
Convertibles |
|
2.64% |
|
|
Non-US Equity |
|
2.39% |
|
|
Emerging Income |
|
1.39% |
|
|
Limited Duration |
|
1.29% |
Constituents as of 5.31.2023
Symbol |
Weighting |
Fund Name |
NRGX |
1.52% | PIMCO Energy & Tactical Credit Opps |
PTY |
1.52% | PIMCO Corporate & Income Opps |
CLM |
1.51% | Cornerstone Strategic Value |
NBXG |
1.50% | Neuberger Brmn Nxt Gnrtn Cnnctvty |
BGY |
1.49% | BlackRock Enhanced Intl Div Trust |
CSQ |
1.49% | Calamos Strategic Total Return |
IFN |
1.47% | India Fund Inc |
NML |
1.47% | NB MLP and Energy Income Fund Inc. |
ETY |
1.47% | EV Tax-Managed Div Equity Income |
GGN |
1.47% | GAMCO Glb Gold Natural Res & Income |
BST |
1.47% | BlackRock Science and Technology Trust |
CRF |
1.47% | Cornerstone Total Return |
BGR |
1.47% | BlackRock Energy & Resources |
GOF |
1.46% | Guggenheim Strategic Opp Fund |
DHY |
1.45% | Credit Suisse High Yield Bond |
ADX |
1.45% | Adams Diversified Equity Fund |
BCAT |
1.45% | BlackRock Capital Allocation Trust Ordin |
EXG |
1.45% | EV Tax-Mgd Gbl Div Equity Income |
CIK |
1.43% | Credit Suisse Asset Mgmt Income |
NFJ |
1.41% | Virtus Divid, Interest & Prem |
VVR |
1.41% | Invesco Senior Income Trust |
DSL |
1.40% | DoubleLine Income Solutions |
AOD |
1.40% | abrdn Total Dynamic Dividend |
BMEZ |
1.40% | BlackRock Health Sciences Trust II |
EMD |
1.39% | Western Asset Emerg Mkts Debt |
ETW |
1.39% | EV Tax-Managed Glb B-W Opps |
USA |
1.39% | Liberty All-Star Equity |
FAX |
1.38% | abrdn Asia-Pacific Income |
BIGZ |
1.38% | BlackRock Innovation and Growth Trust |
WDI |
1.37% | Western Asset Diversified Income Fund |
JQC |
1.37% | Nuveen Credit Strategies Income |
KYN |
1.37% | Kayne Anderson Energy Infrastructure |
OXLC |
1.37% | Oxford Lane Capital Corp |
BTZ |
1.37% | BlackRock Credit Allocation Inc |
DHF |
1.37% | BNY Mellon High Yield Strategies Fund |
BDJ |
1.36% | BlackRock Enhanced Equity Div |
BCX |
1.36% | BlackRock Resources & Commdty |
PDI |
1.36% | PIMCO Dynamic Income |
NSL |
1.35% | Nuveen Senior Income |
PHK |
1.35% | PIMCO High Income |
NCZ |
1.35% | Virtus Convertible & Income Fund II |
FEI |
1.35% | First Trust MLP & Energy Inc Fund |
MIN |
1.34% | MFS® Intermediate Income |
EOD |
1.34% | Allspring Global Dividend Opportunity |
ETJ |
1.34% | EV Risk-Mgd Divers Equity Inc |
DNP |
1.33% | DNP Select Income |
RA |
1.32% | Brookfield Real Assets Income Fund Inc. |
BSTZ |
1.31% | BlackRock Science & Technology Trust II |
HYT |
1.30% | BlackRock Corp High Yield |
ETV |
1.30% | EV Tax-Managed Buy-Write Opps |
KMF |
1.30% | Kayne Anderson NextGen Energy&Infras |
PFN |
1.30% | PIMCO Income Strategy Fund II |
BKT |
1.30% | BlackRock Income Trust |
NCV |
1.29% | Virtus Convertible & Income Fund |
EVV |
1.29% | EV Limited Duration Income |
IGD |
1.28% | Voya Global Equity Dividend&Premium Opp |
RVT |
1.27% | Royce Value Trust |
ASG |
1.26% | Liberty All-Star Growth |
GAB |
1.26% | Gabelli Equity Trust |
PTA |
1.23% | Cohen & Steers Tax-adv Prd Sec and Inc |
JPS |
1.23% | Nuveen Pref & Income Securities Fund |
UTG |
1.23% | Reaves Utility Income |
CHW |
1.21% | Calamos Global Dynamic Income |
UTF |
1.18% | Cohen & Steers Infrastructure |
RQI |
1.18% | Cohen & Steers Qty Inc Realty |
RIV |
1.18% | RiverNorth Opportunities |
JPC |
1.17% | Nuveen Pref & Income Opps Fund |
FPF |
1.16% | First Trust Inter Dur Pref & Income Fund |
FFC |
1.15% | Flah&Crum Pref Securities Income |
HFRO |
1.13% | Highland Income Fund |
ZTR |
1.12% | Virtus Total Return Fund Inc. |
AWP |
1.11% | abrdn Global Premier Property |
IGR |
1.05% | CBRE Global Real Estate Income |
GLO |
0.97% | Clough Global Opportunities |
TDF |
0.92% | Templeton Dragon Fund |
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).