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 6.30.2019

1 Month 3 Month YTD 1 Year 3 Year Weighted
Average
Discount
RiverNorth Taxable CEF Index (Price) Performance 4.49% 2.97% 19.36% 7.36% 9.82% -3.71%
RiverNorth Taxable CEF Index (NAV) Performance 3.68% 2.50% 13.81% 7.37% 8.60% - -

Index Returns as of 6.30.2019

Average Discount1 as of 6.30.2019

Asset Class Weightings as of 6.30.2019

Asset Class Allocation
Specialized Equity 13.99%
Multi-Sector Bonds 11.66%
Covered Call 11.64%
Bank Loans 8.05%
Domestic Equity 7.99%
Preferreds 7.18%
High Yield 7.06%
Hybrid 6.53%
Global Equity 6.43%
Real Estate 4.28%
Global Income 4.06%
International Equity 4.01%
Investment Grade (IG) 2.89%
Government & Agency 2.74%
Emerging Income 1.49%
Specialized Equity 13.99%
Multi-Sector Bonds 11.66%
Covered Call 11.64%
Bank Loans 8.05%
Domestic Equity 7.99%
Preferreds 7.18%
High Yield 7.06%
Hybrid 6.53%
Global Equity 6.43%
Real Estate 4.28%
Global Income 4.06%
International Equity 4.01%
Investment Grade (IG) 2.89%
Government & Agency 2.74%
Emerging Income 1.49%

Constituents as of 6.30.2019

SymbolWeightingFund Name
UTG 1.66%Reaves Utility Income
UTF 1.57%Cohen & Steers Infrastructure
RQI 1.55%Cohen & Steers Qty Inc Realty
HIX 1.50%Western Asset High Inc Fund II
EMD 1.49%Western Asset Emerg Mkts Debt
DNP 1.48%DNP Select Income
JPS 1.46%Nuveen Preferred Securities Income
JPC 1.45%Nuveen Pref Income Opps Fund
AWF 1.45%AllianceBernstein Glb High Inc
ADX 1.45%Adams Diversified Equity Fund
BTZ 1.44%BlackRock Credit Allocation Inc
OXLC 1.44%Oxford Lane Capital Corp
FPF 1.44%First Trust Inter Dur Pref & Income Fund
PTY 1.44%PIMCO Corporate & Income Opps
FFC 1.43%Flah&Crum Pref Securities Income
HIO 1.43%Western Asset High Income Opp
PDI 1.41%PIMCO Dynamic Income
PCI 1.41%PIMCO Dynamic Credit and Mortgage Inc
JQC 1.40%Nuveen Credit Strategies Income
BKT 1.40%BlackRock Income Trust
PDT 1.40%JH Premium Dividend Fund
HYT 1.40%BlackRock Corp High Yield
USA 1.40%Liberty All-Star Equity
GIM 1.39%Templeton Global Income
GAB 1.38%Gabelli Equity Trust
ETJ 1.38%EV Risk-Mgd Divers Equity Inc
DSL 1.38%DoubleLine Income Solutions
EOD 1.38%Wells Fargo Global Dividend Opportunity
AWP 1.37%Alpine Global Premier Property
CSQ 1.37%Calamos Strategic Total Return
AEF 1.37%Aberdeen Emerging Markets Equity Income Fund
ETY 1.36%EV Tax-Managed Div Equity Income
IGR 1.36%CBRE Clarion Global Real Est Income
EVV 1.35%EV Limited Duration Income
VVR 1.35%Invesco Senior Income Trust
RA 1.34%Brookfield Real Assets Income Fund Inc.
IFN 1.34%India Fund Inc
PHK 1.34%PIMCO High Income
FAX 1.34%Aberdeen Asia-Pacific Income
BGY 1.33%BlackRock Intern'l Grth & Inc
PPT 1.33%Putnam Premier Income Trust
NFJ 1.33%AllianzGI NFJ Div Interest & Prem
VTA 1.31%Invesco Dynamic Credit Opps
BOE 1.30%BlackRock Global Opportunities
CLM 1.30%Cornerstone Strategic Value
BDJ 1.30%BlackRock Enhanced Equity Div
CAF 1.30%MS China A Share
GGN 1.29%GAMCO Glb Gold Natural Res & Income
CEN 1.29%Center Coast MLP & Infrastructure
BST 1.29%BlackRock Science and Technology Trust
DHY 1.28%Credit Suisse High Yield Bond
GDV 1.28%Gabelli Dividend & Income
ETG 1.28%EV Tax Adv Global Dividend Inc
JFR 1.28%Nuveen Floating Rate Income
PPR 1.27%Voya Prime Rate Trust
CHW 1.26%Calamos Global Dynamic Income
CRF 1.25%Cornerstone Total Return
EXG 1.24%EV Tax-Mgd Gbl Div Equity Income
IGD 1.24%Voya Global Equity Dividend&Premium Opp
CHI 1.23%Calamos Convertible Opps & Income
GER 1.21%Goldman Sachs MLP and Energy Rena
RVT 1.21%Royce Value Trust
NHF 1.21%NexPoint Credit Strategies Fund
CHY 1.20%Calamos Convertible & High Income
AOD 1.20%Alpine Total Dynamic Dividend
BCX 1.20%BlackRock Resources & Commdty
GLO 1.20%Clough Global Opportunities
NCZ 1.19%AllianzGI Convertible & Inc II
CEM 1.18%ClearBridge Energy MLP
JMF 1.18%Nuveen Energy MLP Total Return
NML 1.17%Neuberger Berman MLP Income
ETW 1.15%EV Tax-Managed Glb B-W Opps
NCV 1.15%AllianzGI Convertible & Income
KYN 1.14%Kayne Anderson MLP
NTG 1.12%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).

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