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 | -10.80% | -9.97% | 8.96% | 18.91% | 32.21% | 8.86% | $642 | 16.96 | 18.31 | 1608 | 15.74% | 83.06% | 57.05% | 0.77 |
| Sector Equity CEFs | 85 | -4.40% | -4.07% | 8.61% | 28.29% | 29.17% | 15.38% | $983 | 15.52 | 16.62 | 3792 | 19.82% | 87.91% | 59.35% | 0.66 |
| Taxable Bond CEFs | 130 | -1.31% | -4.31% | 10.27% | 6.67% | 20.66% | 24.84% | $466 | 11.93 | 8.09 | 2140 | 10.48% | 64.83% | 51.16% | 0.45 |
| Debt Focused BDCs | 48 | -3.79% | -5.90% | 11.03% | 20.46% | 0.34% | 50.56% | $1531 | 22.75 | 5.44 | 8341 | 16.91% | N/A | 22.72% | 0.64 |
| Municipal (tax-free) CEFs | 107 | -8.45% | -5.37% | 5.90% | 6.03% | 14.03% | 31.29% | $487 | 9.69 | 7.21 | 1555 | 37.13% | 77.90% | 51.86% | 0.81 |
| All Listed CEFs/BDCs | 455 | -5.75% | -5.90% | 8.73% | 14.25% | 20.36% | 24.44% | $709 | 14.32 | 11.12 | 2855 | 20.56% | 68.07% | 50.88% | 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 | 1.44% | 1.09% | -2.50% | -2.47% | 0.19% | -0.64% | 6.25% | 4.14% | 19.15% | 14.79% | 0.57% | 1.58% | 6.28% | 6.18% | 6.84% | 6.28% | 1.44% | 1.23% | 1.44% | 1.23% |
| Sector Equity CEFs | 1.59% | 1.17% | -2.93% | -2.57% | -1.11% | -0.81% | 7.98% | 6.54% | 21.31% | 16.58% | 3.87% | 4.56% | 5.78% | 6.00% | 6.50% | 6.05% | 1.36% | 1.03% | 1.36% | 1.03% |
| Taxable Bond CEFs | 0.79% | 0.38% | -1.71% | -0.79% | -0.48% | 1.06% | 6.01% | 5.45% | 14.44% | 10.73% | 1.83% | 2.00% | 3.85% | 3.56% | 5.50% | 4.67% | 0.47% | 0.41% | 0.47% | 0.41% |
| Debt Focused BDCs | 0.78% | 0.71% | 0.79% | 1.95% | 3.75% | 3.07% | 1.31% | 5.54% | 8.59% | 9.28% | 6.42% | 6.76% | 6.86% | 6.83% | 8.12% | 7.17% | 0.10% | 0.00% | 0.10% | 0.00% |
| Municipal (tax-free) CEFs | 1.60% | 0.57% | -3.49% | -2.52% | -4.13% | -1.73% | 1.42% | 1.16% | 7.20% | 2.48% | -4.93% | -2.91% | -0.95% | -0.18% | 2.22% | 2.28% | 1.06% | 0.36% | 1.17% | 0.38% |
| All Listed CEFs/BDCs | 1.26% | 0.73% | -2.17% | -1.49% | -0.72% | 0.00% | 5.03% | 4.37% | 14.54% | 10.39% | 0.76% | 1.70% | 3.77% | 3.87% | 5.27% | 4.79% | 0.91% | 0.62% | 0.94% | 0.62% |
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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
