CEF / BDC References

CEF / BDC ReferencesAdmin Bantics2025-09-26T14:25:38-04:00

Asset Class Annual Returns (NAV) 2013 – 2023

Download a two page PDF with historical sector performance for most key CEF groupings as well as historical discounts data for the same sectors. We developed the piece as a simple way to explain to investors the difference in NAV movements vs. discounts movements over the past 10 years and give them context vs. current levels. Last update: 03/31/2023.

10 Year CEF NAV TR and Market Price TR Correlation Tables

Download a two page PDF with historical 10 Year NAV total return correlations for the 14 major CEF sectors and for 10 year market price total return correlations. We developed the piece as a simple way to explain to investors the difference in NAV movements and to help foster proper portfolio diversification. Giving context vs. the current environment. It acts as a nice companion for the discount and asset class tables. Last update: 6/30/2019.

Disclosure: Views and opinions expressed are for informational and educational purposes only as of the date of production/writing/speaking and may change without notice at any time based on a multitude of factors. Speaker’s/presenter’s/author’s opinions are their own and may not necessarily represent the opinions of AICA, its Board, or its staff. Materials may contain “forward-looking” information that is not purely historical in nature, such as projections, forecasts, market return estimates, proposed or expected portfolio composition, and other items. Listed closed-end funds and business development companies trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor will be able to sell shares at a price greater than or equal to the purchase price or that a closed-end fund’s discount will narrow. Non-listed closed-end funds and business development companies do not offer investors daily liquidity but rather offer liquidity on a monthly, quarterly or semi-annual basis, often on a small percentage of shares. Closed-end funds often use leverage, which can increase the fund’s volatility (i.e., risk). Actual distribution amounts may vary with fund performance and other conditions. Past performance is no guarantee of future results. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Closed-end funds frequently trade at a discount to their net asset value (NAV).