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CEF Advisors Launches 25 Indexes to Cover the Entire $265 Billion US Listed Closed-End Fund (CEF) and Business Development Company (BDC) Universe

by on February 10, 2017

CEF Advisors’ launches 25 indexes to cover the entire closed-end fund (CEF) and business development company (BDC) universe. The indexes cover both bond and equity sector indexes as well as diversified portfolio objective indexes for example; the High Income Index and the Tax-Sensitive Income Index. The indexes are priced daily with data since 12/31/16, however, we are working by quarter-end to offer index data from 12/31/2011 to present as we have the data in our internally collected research system and database launched in 2012.

Data will be available on the indexes for additional benchmarking purposes including weighted discount, yield, leverage, duration, beta and other metrics for the underlying constituent funds. The indexes will be rebalanced quarterly.
The indexes were developed to help CEF Advisors monitor our separately managed accounts and model portfolio service as well as help our research/data clients and peers better benchmark themselves. John Cole Scott, CIO at CEF Advisors said, “We are pleased to offer better visualization of our data collection and production efforts which now has five years in internally collected data. We believe our ability to show the indexes’ weighted data, in addition to the typical performance calculations should help individuals and investment professionals properly benchmark their CEF/BDC allocations.”
The firm’s index project can be monitored via: They offer a performance table and a data table webpage summarizing each index. Clicking on each indexes’ name opens a detailed page containing the following information: 1. Index Methodology, 2. Market Price and Net Asset Value Performance, 3. Discounts, 4. Data Characteristics, 5. Holdings’ Asset Allocation, 6. Constituent Funds, and 7. Daily index market price and net asset value pricing.
Diversified Portfolio Indexes:
  1. 12 Major Sectors:
  2. High Income:
  3. Equity Income:
  4. 60 / 40 Balanced (w/ BDCs):
  5. Tax-Sensitive Income:
  6. Taxable Bond & BDC:
  7. Discount CEF/BDC:
  8. Premium CEF/BDC:
CEF Advisors uses CEFs as the building blocks for an entire portfolio, so wanted a better way to track their progress for clients. Previous portfolio style indexes seemed only focused on taxable bond and equity based CEF indexes and did not offer tracking for thematic investments.

Equity Sector Indexes:
  1. International Equity:
  2. US Equity:
  3. Global Equity:
  4. Covered Call / Option Funds:
  5. Global Real Estate, REIT & Real Asset:
  6. Utilities / Infrastructure:
  7. Master Limited Partnership (MLP):
  8. Preferred Equity:
Bond Sector Indexes:
  1. Debt-Focused Business Development Companies (BDC):
  2. BDC Baby Bond/Leverage Index (coming 1Q17)
  3. High Yield Bond:
  4. Senior Loan:
  5. Convertible Bond:
  6. Investment Grade Bond:
  7. Multisector Bond:
  8. National Municipal Bond:
  9. High Yield Municipal:
  10. Term Municipal Fund:
We will be adding deeper access to the indexes data for our paid subscribers. We plan to release a BDC Baby Bond/Leverage Index later this quarter as we continue to expand our BDC coverage.
Data Tables for CEF Advisors’ Indexes:
Performance Tables for CEF Advisors’ Indexes:


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