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 6.30.2020

1 Month 3 Month YTD 1 Year 3 Year Weighted
Average
Discount
RiverNorth Taxable CEF Index (Price) Performance 1.69% 18.55% -18.97% -14.83% -1.40% -6.85%
RiverNorth Taxable CEF Index (NAV) Performance 1.81% 16.56% -14.93% -11.58% -0.14% - -

Index Returns as of 6.30.2020

https://www.rivernorth.com/images/2020-06-30-cef-index-taxable-returns.svg

Average Discount1 as of 6.30.2020

https://www.rivernorth.com/images/2020-06-30-cef-index-taxable-discounts.svg

Asset Class Weightings as of 6.30.2020

Asset Class Allocation
Covered Call 13.70%
High Yield 10.60%
Domestic Equity 9.62%
Specialized Equity 9.60%
Hybrid 8.72%
Preferreds 7.71%
Bank Loans 7.68%
Investment Grade (IG) 6.02%
Multi-Sector Bonds 5.31%
Global Income 4.28%
Real Estate 3.99%
Limited Duration 3.06%
International Equity 2.80%
Global Equity 2.79%
Convertibles 2.72%
Emerging Income 1.39%
Covered Call 13.70%
High Yield 10.60%
Domestic Equity 9.62%
Specialized Equity 9.60%
Hybrid 8.72%
Preferreds 7.71%
Bank Loans 7.68%
Investment Grade (IG) 6.02%
Multi-Sector Bonds 5.31%
Global Income 4.28%
Real Estate 3.99%
Limited Duration 3.06%
International Equity 2.80%
Global Equity 2.79%
Convertibles 2.72%
Emerging Income 1.39%

Constituents as of 6.30.2020

# Symbol Weighting Fund Name
1 ETJ 1.76%EV Risk-Mgd Divers Equity Inc
2 CRF 1.73%Cornerstone Total Return
3 CLM 1.73%Cornerstone Strategic Value
4 BTZ 1.71%BlackRock Credit Allocation Inc
5 BKT 1.71%BlackRock Income Trust
6 FFC 1.70%Flah&Crum Pref Securities Income
7 CSQ 1.66%Calamos Strategic Total Return
8 GLO 1.65%Clough Global Opportunities
9 AWF 1.65%AllianceBernstein Glb High Inc
10 ADX 1.65%Adams Diversified Equity Fund
11 ETV 1.63%EV Tax-Managed Buy-Write Opps
12 HYT 1.62%BlackRock Corp High Yield
13 CHW 1.58%Calamos Global Dynamic Income
14 FPF 1.58%First Trust Inter Dur Pref & Income Fund
15 BGY 1.55%BlackRock Intern'l Grth & Inc
16 USA 1.55%Liberty All-Star Equity
17 FAX 1.55%Aberdeen Asia-Pacific Income
18 FTF 1.54%Franklin Limited Duration Income Trust
19 EXG 1.54%EV Tax-Mgd Gbl Div Equity Income
20 ETY 1.54%EV Tax-Managed Div Equity Income
21 DNP 1.54%DNP Select Income
22 RVT 1.53%Royce Value Trust
23 LDP 1.53%Cohen & Steers Limited Dur Prf & Inc
24 EVV 1.53%EV Limited Duration Income
25 HIO 1.53%Western Asset High Income Opp
26 ETW 1.52%EV Tax-Managed Glb B-W Opps
27 HIX 1.52%Western Asset High Inc Fund II
28 ETG 1.51%EV Tax Adv Global Dividend Inc
29 JPS 1.50%Nuveen Preferred Securities Income
30 BOE 1.48%BlackRock Global Opportunities
31 PTY 1.47%PIMCO Corporate & Income Opps
32 CAF 1.46%MS China A Share
33 ZTR 1.46%Virtus Global Dividend & Income
34 EAD 1.45%Wells Fargo Inc Opp
35 UTF 1.44%Cohen & Steers Infrastructure
36 PFN 1.43%PIMCO Income Strategy Fund II
37 GAB 1.43%Gabelli Equity Trust
38 DHF 1.43%Dreyfus High Yield Strategies
39 PPR 1.42%Voya Prime Rate Trust
40 BDJ 1.42%BlackRock Enhanced Equity Div
41 JPC 1.40%Nuveen Pref Income Opps Fund
42 EDD 1.39%MS Emerging Markets Domestic
43 DHY 1.39%Credit Suisse High Yield Bond
44 GIM 1.39%Templeton Global Income
45 GGN 1.38%GAMCO Glb Gold Natural Res & Income
46 EVT 1.37%EV Tax Advantaged Dividend Inc
47 RQI 1.36%Cohen & Steers Qty Inc Realty
48 NCZ 1.36%AllianzGI Convertible & Inc II
49 JFR 1.36%Nuveen Floating Rate Income
50 VTA 1.36%Invesco Dynamic Credit Opps
51 IGR 1.36%CBRE Clarion Global Real Est Income
52 JQC 1.36%Nuveen Credit Strategies Income
53 NCV 1.36%AllianzGI Convertible & Income
54 PCI 1.35%PIMCO Dynamic Credit and Mortgage Inc
55 VVR 1.35%Invesco Senior Income Trust
56 AEF 1.34%Aberdeen Emerging Markets Equity Income Fund
57 DSL 1.34%DoubleLine Income Solutions
58 PDI 1.34%PIMCO Dynamic Income
59 AOD 1.28%Alpine Total Dynamic Dividend
60 BCX 1.28%BlackRock Resources & Commdty
61 AWP 1.27%Alpine Global Premier Property
62 IGD 1.27%Voya Global Equity Dividend&Premium Opp
63 PHK 1.18%PIMCO High Income
64 RCS 1.13%PIMCO Strategic Income
65 NHF 1.00%NexPoint Credit Strategies Fund
66 OXLC 0.82%Oxford Lane Capital Corp
67 KMF 0.71%Kayne Anderson MidstreamEnergy
68 NML 0.68%Neuberger Berman MLP Income
69 KYN 0.61%Kayne Anderson MLP
70 CEM 0.47%ClearBridge Energy MLP
71 EMO 0.45%ClearBridge Energy MLP Opps
72 TYG 0.31%Tortoise Energy Infrastructure
73 GER 0.29%Goldman Sachs MLP and Energy Rena
74 CEN 0.24%Center Coast MLP & Infrastructure
75 NTG 0.22%Tortoise MLP 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).