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 8.31.2021

1 Month 3 Month YTD 1 Year 3 Year Weighted
Average
Discount
RiverNorth Taxable CEF Index (Price) Performance 1.70% 3.82% 21.82% 37.38% 8.91% -0.93%
RiverNorth Taxable CEF Index (NAV) Performance 1.60% 3.31% 15.61% 26.98% 7.63% - -

Index Returns as of 8.31.2021

https://www.rivernorth.com/images/2021-08-31-cef-index-taxable-returns.svg

Average Discount1 as of 8.31.2021

https://www.rivernorth.com/images/2021-08-31-cef-index-taxable-discounts.svg

Asset Class Weightings as of 8.31.2021

Asset Class Allocation
Specialized Equity 18.16%
Covered Call 10.96%
US Equity 10.95%
All Hybrid 9.54%
High Yield 7.88%
Bank Loans 6.52%
Preferreds 5.38%
Investment Grade (IG) 5.34%
Multi-Sector 5.30%
Real Estate 4.18%
Global Income 3.90%
Non-US Equity 3.83%
Global Equity 2.71%
Convertibles 2.68%
Limited Duration 1.34%
Emerging Income 1.32%
Specialized Equity 18.16%
Covered Call 10.96%
US Equity 10.95%
All Hybrid 9.54%
High Yield 7.88%
Bank Loans 6.52%
Preferreds 5.38%
Investment Grade (IG) 5.34%
Multi-Sector 5.30%
Real Estate 4.18%
Global Income 3.90%
Non-US Equity 3.83%
Global Equity 2.71%
Convertibles 2.68%
Limited Duration 1.34%
Emerging Income 1.32%

Constituents as of 8.31.2021

# Symbol Weighting Fund Name
1 CLM 1.50%Cornerstone Strategic Value
2 CRF 1.48%Cornerstone Total Return
3 HGLB 1.45%Highland Global Allocation Fund
4 NHF 1.44%NexPoint Strategic Opportunities Fund
5 GLO 1.43%Clough Global Opportunities
6 AWP 1.41%Aberdeen Global Premier Property
7 EXG 1.40%EV Tax-Mgd Gbl Div Equity Income
8 IFN 1.40%India Fund Inc
9 FPF 1.39%First Trust Inter Dur Pref & Income Fund
10 ADX 1.39%Adams Diversified Equity Fund
11 UTG 1.39%Reaves Utility Income
12 IGR 1.39%CBRE Clarion Global Real Est Income
13 ETY 1.38%EV Tax-Managed Div Equity Income
14 IGD 1.38%Voya Global Equity Dividend&Premium Opp
15 DNP 1.38%DNP Select Income
16 RQI 1.38%Cohen & Steers Qty Inc Realty
17 CSQ 1.38%Calamos Strategic Total Return
18 PTY 1.38%PIMCO Corporate & Income Opps
19 NFJ 1.37%Virtus Divid, Interest & Prem
20 BXMX 1.37%Nuveen S&P 500 Buy-Write Income
21 HYT 1.36%BlackRock Corp High Yield
22 GDV 1.36%Gabelli Dividend & Income
23 AOD 1.36%Aberdeen Total Dynamic Dividend
24 ETW 1.36%EV Tax-Managed Glb B-W Opps
25 ETV 1.36%EV Tax-Managed Buy-Write Opps
26 UTF 1.35%Cohen & Steers Infrastructure
27 EOD 1.35%Wells Fargo Global Dividend Opportunity
28 RA 1.35%Brookfield Real Assets Income Fund Inc.
29 JPC 1.34%Nuveen Pref & Income Opps Fund
30 BDJ 1.34%BlackRock Enhanced Equity Div
31 BKT 1.34%BlackRock Income Trust
32 NCV 1.34%Virtus AllianzGI Convert & Inc Fund
33 NCZ 1.34%Virtus AllianzGI Convert & Inc Fund II
34 PCI 1.34%PIMCO Dynamic Credit and Mortgage Inc
35 DPG 1.34%Duff & Phelps Utility and Infra Fund Inc
36 EVV 1.34%EV Limited Duration Income
37 JFR 1.33%Nuveen Floating Rate Income
38 CIK 1.33%Credit Suisse Asset Mgmt Income
39 ZTR 1.33%Virtus Total Return Fund Inc.
40 PHK 1.33%PIMCO High Income
41 JPS 1.33%Nuveen Pref & Income Securities Fund
42 NSL 1.32%Nuveen Senior Income
43 PDT 1.32%JH Premium Dividend Fund
44 BMEZ 1.32%BlackRock Health Sciences Trust II
45 PDI 1.32%PIMCO Dynamic Income
46 EDD 1.32%MS Emerging Markets Domestic
47 HIO 1.32%Western Asset High Income Opp
48 ASG 1.32%Liberty All-Star Growth
49 BSTZ 1.31%BlackRock Science & Technology Trust II
50 GIM 1.31%Templeton Global Income
51 GOF 1.31%Guggenheim Strategic Opp Fund
52 BTZ 1.31%BlackRock Credit Allocation Inc
53 BCX 1.31%BlackRock Resources & Commdty
54 BHK 1.31%BlackRock Core Bond
55 MIN 1.31%MFS® Intermediate Income
56 RVT 1.31%Royce Value Trust
57 GAB 1.31%Gabelli Equity Trust
58 GGN 1.30%GAMCO Glb Gold Natural Res & Income
59 FPL 1.30%First Trust New Opps MLP & Energy
60 VVR 1.30%Invesco Senior Income Trust
61 CHW 1.29%Calamos Global Dynamic Income
62 JQC 1.29%Nuveen Credit Strategies Income
63 OXLC 1.28%Oxford Lane Capital Corp
64 FAX 1.28%Aberdeen Asia-Pacific Income
65 DHY 1.28%Credit Suisse High Yield Bond
66 KMF 1.28%Kayne Anderson MidstreamEnergy
67 NML 1.27%NB MLP and Energy Income Fund Inc.
68 USA 1.27%Liberty All-Star Equity
69 IAF 1.25%Aberdeen Australia Equity
70 DHF 1.23%BNY Mellon High Yield Strategies Fund
71 FEI 1.22%First Trust MLP & Energy Inc Fund
72 NRGX 1.20%PIMCO Energy & Tactical Credit Opps
73 KYN 1.20%Kayne Anderson MLP/Midstream
74 BGR 1.19%BlackRock Energy & Resources
75 IHD 1.18%Voya Emerging Markets High Dividend Eq

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).