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 12.31.2022
RiverNorth Taxable CEF Index (Price) Performance |
-5.59% |
5.01% |
-17.05% |
-0.14% |
-7.22% |
RiverNorth Taxable CEF Index (NAV) Performance |
-2.83% |
6.22% |
-12.28% |
1.04% |
- - |
Index Returns as of 12.31.2022
Average Discount1 as of 12.31.2022
Asset Class Weightings as of 12.31.2022
Specialized Equity |
18.25% |
Covered Call |
12.35% |
US Equity |
11.64% |
All Hybrid |
9.08% |
Bank Loans |
6.81% |
Multi-Sector |
6.62% |
High Yield |
6.59% |
Preferreds |
6.52% |
Investment Grade (IG) |
3.99% |
Global Income |
3.95% |
Real Estate |
3.48% |
Global Equity |
2.80% |
Convertibles |
2.67% |
Non-US Equity |
2.47% |
Emerging Income |
1.48% |
Limited Duration |
1.31% |
|
|
Specialized Equity |
|
18.25% |
|
|
Covered Call |
|
12.35% |
|
|
US Equity |
|
11.64% |
|
|
All Hybrid |
|
9.08% |
|
|
Bank Loans |
|
6.81% |
|
|
Multi-Sector |
|
6.62% |
|
|
High Yield |
|
6.59% |
|
|
Preferreds |
|
6.52% |
|
|
Investment Grade (IG) |
|
3.99% |
|
|
Global Income |
|
3.95% |
|
|
Real Estate |
|
3.48% |
|
|
Global Equity |
|
2.80% |
|
|
Convertibles |
|
2.67% |
|
|
Non-US Equity |
|
2.47% |
|
|
Emerging Income |
|
1.48% |
|
|
Limited Duration |
|
1.31% |
Constituents as of 12.31.2022
Symbol |
Weighting |
Fund Name |
NRGX |
1.62% | PIMCO Energy & Tactical Credit Opps |
BGR |
1.59% | BlackRock Energy & Resources |
BCX |
1.55% | BlackRock Resources & Commdty |
NML |
1.54% | NB MLP and Energy Income Fund Inc. |
BDJ |
1.51% | BlackRock Enhanced Equity Div |
EMD |
1.48% | Western Asset Emerg Mkts Debt |
CSQ |
1.46% | Calamos Strategic Total Return |
DNP |
1.46% | DNP Select Income |
KYN |
1.45% | Kayne Anderson Energy Infrastructure |
VVR |
1.44% | Invesco Senior Income Trust |
GGN |
1.44% | GAMCO Glb Gold Natural Res & Income |
EOD |
1.43% | Allspring Global Dividend Opportunity |
FEI |
1.43% | First Trust MLP & Energy Inc Fund |
KMF |
1.42% | Kayne Anderson NextGen Energy&Infras |
IGD |
1.41% | Voya Global Equity Dividend&Premium Opp |
BGY |
1.40% | BlackRock Enhanced Intl Div Trust |
JQC |
1.40% | Nuveen Credit Strategies Income |
PTY |
1.40% | PIMCO Corporate & Income Opps |
EXG |
1.39% | EV Tax-Mgd Gbl Div Equity Income |
IFN |
1.39% | India Fund Inc |
NFJ |
1.38% | Virtus Divid, Interest & Prem |
GOF |
1.38% | Guggenheim Strategic Opp Fund |
AOD |
1.37% | abrdn Total Dynamic Dividend |
ADX |
1.37% | Adams Diversified Equity Fund |
NSL |
1.37% | Nuveen Senior Income |
DHF |
1.36% | BNY Mellon High Yield Strategies Fund |
ETY |
1.36% | EV Tax-Managed Div Equity Income |
JPC |
1.35% | Nuveen Pref & Income Opps Fund |
BMEZ |
1.34% | BlackRock Health Sciences Trust II |
RVT |
1.34% | Royce Value Trust |
NCV |
1.34% | Virtus Convertible & Income Fund |
BCAT |
1.34% | BlackRock Capital Allocation Trust Ordin |
UTF |
1.33% | Cohen & Steers Infrastructure |
DSL |
1.33% | DoubleLine Income Solutions |
PDI |
1.33% | PIMCO Dynamic Income |
ETW |
1.33% | EV Tax-Managed Glb B-W Opps |
DHY |
1.33% | Credit Suisse High Yield Bond |
NCZ |
1.33% | Virtus Convertible & Income Fund II |
CLM |
1.32% | Cornerstone Strategic Value |
NBXG |
1.32% | Neuberger Brmn Nxt Gnrtn Cnnctvty |
MIN |
1.32% | MFS® Intermediate Income |
BTZ |
1.32% | BlackRock Credit Allocation Inc |
JPS |
1.32% | Nuveen Pref & Income Securities Fund |
PHK |
1.32% | PIMCO High Income |
CIK |
1.32% | Credit Suisse Asset Mgmt Income |
OXLC |
1.32% | Oxford Lane Capital Corp |
WDI |
1.31% | Western Asset Diversified Income Fund |
PTA |
1.31% | Cohen & Steers Tax-adv Prd Sec and Inc |
EVV |
1.31% | EV Limited Duration Income |
HYT |
1.31% | BlackRock Corp High Yield |
CRF |
1.30% | Cornerstone Total Return |
FAX |
1.30% | abrdn Asia-Pacific Income |
UTG |
1.29% | Reaves Utility Income |
USA |
1.29% | Liberty All-Star Equity |
ETV |
1.29% | EV Tax-Managed Buy-Write Opps |
HFRO |
1.29% | Highland Income Fund |
PFN |
1.28% | PIMCO Income Strategy Fund II |
GAB |
1.28% | Gabelli Equity Trust |
FPF |
1.28% | First Trust Inter Dur Pref & Income Fund |
BKT |
1.28% | BlackRock Income Trust |
ETJ |
1.28% | EV Risk-Mgd Divers Equity Inc |
RA |
1.27% | Brookfield Real Assets Income Fund Inc. |
RIV |
1.27% | RiverNorth Opportunities |
FFC |
1.26% | Flah&Crum Pref Securities Income |
BST |
1.24% | BlackRock Science and Technology Trust |
BIGZ |
1.23% | BlackRock Innovation and Growth Trust |
RQI |
1.21% | Cohen & Steers Qty Inc Realty |
ASG |
1.19% | Liberty All-Star Growth |
CHW |
1.18% | Calamos Global Dynamic Income |
ZTR |
1.17% | Virtus Total Return Fund Inc. |
BSTZ |
1.15% | BlackRock Science & Technology Trust II |
AWP |
1.14% | abrdn Global Premier Property |
IGR |
1.13% | CBRE Global Real Estate Income |
TDF |
1.08% | Templeton Dragon Fund |
GLO |
1.02% | Clough Global Opportunities |
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).