The Active Investment Company Alliance (AICA) will be the premier 501(c)(6) non-profit trade association for listed closed-end funds, business development companies, interval and tender offer funds.
Membership will be broad-based globally across fund sponsors (member firm who manages a closed-ended management company, BDC or equivalent), or product sponsors (member firm who manages an investment product: open-end, UIT, ETF, CEF, SMA, LP where the underlying investments are focused on closed-ended management companies, BDC or equivalent).
Average CEF Universe Data
| #Funds | Current Disc/Prm | 10 Yr Avg Disc/Prm | Market Yield | 3 Yr Div Growth | 3 Yr RoC % | Leverage | Net Assets (MM) | 1 Yr Price St. Dev | 3 Yr NAV St. Dev | 90 Day $ Liquidity (M) | 90 Day Volume Trend | 90 Day Price/Nav Corr | Corr to 12 Sectors Index | Beta to S&P 500 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| US / Global Equity CEFs | 81 | -10.32% | -9.97% | 8.94% | 19.68% | 32.15% | 8.89% | $642 | 17.08 | 18.14 | 1652 | 14.93% | 83.68% | 57.00% | 0.76 |
| Sector Equity CEFs | 85 | -3.90% | -4.07% | 8.47% | 28.29% | 29.22% | 15.60% | $1001 | 15.69 | 16.70 | 4245 | 20.03% | 87.44% | 58.93% | 0.63 |
| Taxable Bond CEFs | 130 | -1.11% | -4.29% | 10.28% | 6.70% | 20.62% | 25.06% | $465 | 11.92 | 8.09 | 2155 | 10.20% | 64.71% | 50.88% | 0.44 |
| Debt Focused BDCs | 47 | -2.58% | -5.90% | 10.95% | 20.46% | 0.34% | 50.46% | $1565 | 22.75 | 5.44 | 8865 | 8.66% | N/A | 24.55% | 0.53 |
| Municipal (tax-free) CEFs | 107 | -7.20% | -5.37% | 5.93% | 5.89% | 14.24% | 31.03% | $477 | 9.72 | 7.24 | 1567 | 25.66% | 77.58% | 51.27% | 0.84 |
| All Listed CEFs/BDCs | 454 | -5.07% | -5.90% | 8.69% | 14.31% | 20.44% | 24.43% | $711 | 14.40 | 11.13 | 2997 | 16.60% | 68.20% | 50.69% | 0.61 |
| 1 Week(%) | 1 Month(%) | 3 Month(%) | 6 Month(%) | 1 Year(%) | 3 Year(%) | 5 Year(%) | 10 Year(%) | QTD(%) | YTD(%) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | |
| US / Global Equity CEFs | 1.25% | 0.75% | 0.24% | -0.90% | 0.78% | -0.78% | 6.00% | 3.31% | 20.75% | 16.17% | 0.67% | 1.55% | 5.95% | 5.73% | 6.92% | 6.34% | 2.08% | 1.32% | 2.08% | 1.32% |
| Sector Equity CEFs | 2.15% | 1.83% | 2.58% | 0.96% | 0.15% | -0.13% | 8.73% | 6.56% | 24.73% | 20.18% | 4.42% | 5.00% | 5.90% | 5.99% | 6.66% | 6.17% | 3.47% | 2.66% | 3.47% | 2.66% |
| Taxable Bond CEFs | 0.42% | 0.49% | 0.14% | -0.08% | 0.01% | 1.01% | 5.67% | 4.78% | 15.14% | 10.70% | 2.13% | 2.11% | 3.73% | 3.44% | 5.54% | 4.72% | 0.86% | 0.68% | 0.86% | 0.68% |
| Debt Focused BDCs | 1.81% | 0.07% | 2.92% | 1.11% | 3.23% | 3.05% | 2.92% | 5.53% | 11.28% | 9.36% | 6.79% | 6.79% | 6.74% | 6.85% | 8.49% | 7.18% | 1.29% | 0.08% | 1.29% | 0.08% |
| Municipal (tax-free) CEFs | 0.23% | -0.47% | -0.86% | -1.87% | -4.06% | -2.82% | 0.88% | -1.09% | 8.21% | 1.67% | -4.40% | -3.22% | -1.08% | -0.59% | 2.10% | 2.02% | 0.97% | -1.12% | 1.09% | -1.10% |
| All Listed CEFs/BDCs | 1.08% | 0.51% | 0.72% | -0.33% | -0.28% | -0.18% | 5.11% | 3.50% | 16.28% | 11.13% | 1.15% | 1.73% | 3.67% | 3.66% | 5.34% | 4.77% | 1.69% | 0.67% | 1.72% | 0.68% |
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June 6th, 2025 - DownTown Association - 60 Pine Street, NY, NY 10005
November 13th, 2025 DownTown Association 60 Pine Street, NY, NY 10005
November 13th, 2024 - DownTown Association - 60 Pine Street, NY, NY 1005
