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 | -9.96% | -9.97% | 8.95% | 19.68% | 32.20% | 8.76% | $638 | 17.09 | 18.15 | 1644 | 14.72% | 83.78% | 57.12% | 0.76 |
| Sector Equity CEFs | 85 | -3.58% | -4.07% | 8.52% | 28.29% | 29.22% | 15.41% | $994 | 15.69 | 16.70 | 4189 | 21.72% | 87.67% | 59.35% | 0.63 |
| Taxable Bond CEFs | 130 | -0.96% | -4.30% | 10.29% | 6.70% | 20.57% | 25.03% | $464 | 11.92 | 8.09 | 2146 | 10.67% | 64.63% | 51.34% | 0.44 |
| Debt Focused BDCs | 47 | -3.40% | -5.90% | 11.04% | 20.46% | 0.34% | 50.46% | $1563 | 22.73 | 5.44 | 8724 | 12.82% | N/A | 25.72% | 0.53 |
| Municipal (tax-free) CEFs | 107 | -7.13% | -5.37% | 5.94% | 6.03% | 14.11% | 31.36% | $476 | 9.72 | 7.24 | 1567 | 28.16% | 77.83% | 53.12% | 0.84 |
| All Listed CEFs/BDCs | 454 | -5.00% | -5.90% | 8.72% | 14.37% | 20.41% | 24.44% | $708 | 14.39 | 11.13 | 2968 | 18.05% | 68.30% | 51.56% | 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 | 1.06% | 0.17% | -0.66% | -1.96% | 1.02% | -0.98% | 4.93% | 2.02% | 19.45% | 14.44% | 0.61% | 1.35% | 5.92% | 5.61% | 6.90% | 6.27% | 1.87% | 0.74% | 1.87% | 0.74% |
| Sector Equity CEFs | 1.59% | 0.91% | 0.84% | -0.31% | 0.13% | -0.40% | 7.25% | 5.00% | 22.98% | 17.94% | 4.24% | 4.70% | 5.80% | 5.80% | 6.60% | 6.07% | 2.90% | 1.74% | 2.90% | 1.74% |
| Taxable Bond CEFs | 0.26% | 0.19% | -0.82% | -0.47% | 0.08% | 0.85% | 4.97% | 4.27% | 14.50% | 10.03% | 2.07% | 2.01% | 3.70% | 3.38% | 5.52% | 4.68% | 0.70% | 0.38% | 0.70% | 0.38% |
| Debt Focused BDCs | 0.88% | 0.04% | 1.80% | 1.26% | 3.40% | 3.04% | 1.08% | 5.43% | 10.32% | 9.26% | 6.49% | 6.75% | 6.56% | 6.83% | 8.39% | 7.16% | 0.37% | 0.06% | 0.37% | 0.06% |
| Municipal (tax-free) CEFs | 0.02% | -0.74% | -1.96% | -2.60% | -4.08% | -2.84% | 0.25% | -1.33% | 7.26% | 0.85% | -4.47% | -3.31% | -1.13% | -0.65% | 2.08% | 2.00% | 0.77% | -1.39% | 0.88% | -1.37% |
| All Listed CEFs/BDCs | 0.72% | 0.08% | -0.45% | -1.02% | -0.27% | -0.32% | 4.04% | 2.77% | 15.13% | 9.99% | 1.04% | 1.59% | 3.60% | 3.57% | 5.30% | 4.72% | 1.33% | 0.24% | 1.36% | 0.25% |
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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
