About the Index
The RiverNorth Municipal Closed-End Fund ("CEF") Index is an equal weighted index of 50 national municipal
closed-end funds. The
rules-based index has two objectives: 1) to ensure the index constituents reflect the national municipal
closed-end fund market as a whole, and, 2) to ensure the index constituents have trading
liquidity. To accomplish these objectives, the RiverNorth methodology selects the 50 most liquid national
municipal closed-end funds and equally weights each security in the index. The index is rebalanced annually
on June 30th.
For more information: info@rivernorth.com
See also: Taxable CEF Index
Performance as of 5.31.2024
|
1 Mo |
3 Mo |
YTD | 1 Year |
3 Year† |
Weighted
Average
Discount |
| RiverNorth Municipal CEF Index (Price) Performance |
2.21% |
0.08% |
2.01% | 6.96% |
-6.52% |
-9.49% |
| RiverNorth Municipal CEF Index (NAV) Performance |
0.21% |
-1.66% |
-1.77% | 3.88% |
-3.99% |
- - |
| 1 Month |
2.21% |
| 3 Month |
0.08% |
| 1 Year |
6.96% |
| 3 Year |
-6.52% |
| Weighted Average Discount |
-9.49% |
| RiverNorth Municipal CEF Index (NAV) Performance |
| 1 Month |
0.21% |
| 3 Month |
-1.66% |
| 1 Year |
3.88% |
3
Year |
-3.99% |
Index Returns as of 5.31.2024
Average Discount1 as of 5.31.2024
Constituents as of 5.31.2024
| Symbol |
Weighting |
Fund Name |
| NDMO |
2.16% |
Nuveen Dynamic Municipal Opportunities |
| MUA |
2.16% |
BlackRock MuniAssets Fund |
| MUI |
2.09% |
BlackRock Municipal Income Fund |
| VCV |
2.09% |
Invesco CA Value Muni Income |
| MHI |
2.07% |
Pioneer Municipal High Income |
| MQY |
2.06% |
BlackRock MuniYield Quality |
| NRK |
2.06% |
Nuveen NY AMT - Free Quality Muni Inc |
| EIM |
2.06% |
EV Municipal Bond |
| VMO |
2.06% |
Invesco Muni Opps. Trust |
| VKQ |
2.06% |
Invesco Municipal Trust |
| MVF |
2.05% |
BlackRock MuniVest |
| NZF |
2.05% |
Nuveen Municipal Credit Income |
| CXE |
2.04% |
MFS High Income Municipal Trust |
| OIA |
2.04% |
Invesco Muni Income Opps Trust |
| VKI |
2.04% |
Invesco Adv Muni Inc II |
| MYD |
2.03% |
BlackRock MuniYield |
| MYN |
2.02% |
BlackRock MuniYield NY Quality |
| VGM |
2.02% |
Invesco Muni Invst. Grade Trust |
| MFM |
2.02% |
MFS Municipal Income |
| NVG |
2.01% |
Nuveen AMT-Free Muni Credit Inc |
| IQI |
2.01% |
Invesco Quality Muni Income Trust |
| IIM |
2.01% |
Invesco Value Muni Income Trust |
| BKN |
2.01% |
BlackRock Invst. Quality Muni |
| MHD |
2.01% |
BlackRock MuniHoldings Fund |
| EVN |
2.00% |
EV Municipal Income |
| BLE |
2.00% |
BlackRock Municipal Income II |
| MYI |
2.00% |
BlackRock MuniYield Qty III |
| BFK |
2.00% |
BlackRock Municipal Income |
| NAC |
2.00% |
Nuveen CA Quality Muni Income |
| NXJ |
2.00% |
Nuveen NJ Quality Muni Inc |
| NAD |
1.99% |
Nuveen Quality Muni Income Fund |
| NKX |
1.98% |
Nuveen CA AMT - Free Quality Muni Inc |
| MUJ |
1.98% |
BlackRock MuniHoldings NJ Qty |
| NEA |
1.98% |
Nuveen AMT-Free Quality Muni Inc |
| AFB |
1.98% |
AllianceBernstein Nat Muni Inc |
| MUC |
1.97% |
BlackRock MuniHoldings CA Qty |
| DSM |
1.97% |
BNY Mellon Strategic Muni Bond |
| PMM |
1.97% |
Putnam Managed Muni Income |
| NMZ |
1.95% |
Nuveen Muni High Inc Opp |
| NMCO |
1.94% |
Nuveen Municipal Credit Opps Fund |
| NXP |
1.94% |
Nuveen Select TaxFree Income |
| BFZ |
1.94% |
BlackRock CA Municipal Income |
| PMO |
1.93% |
Putnam Municipal Opportunities |
| BTT |
1.93% |
BlackRock Municipal 2030 Target Term |
| NUV |
1.93% |
Nuveen Municipal Value |
| PML |
1.91% |
PIMCO Municipal Income II |
| PCK |
1.89% |
PIMCO CA Municipal Income II |
| LEO |
1.89% |
BNY Mellon Strategic Municipals |
| PMX |
1.86% |
PIMCO Municipal Income III |
| PCQ |
1.84% |
PIMCO CA Municipal Income |
Disclosures
The index was created and developed by RiverNorth Capital Management, LLC. RiverNorth does not guarantee the accuracy or the completeness of the index or any data included therein and RiverNorth shall have no liability for any errors, omissions or interruptions therein. RiverNorth makes no warranty, express or implied, as to results to be obtained by any person or entity from the use of the index or any data included therein. RiverNorth makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, in no event shall RiverNorth have any liability for any special, punitive, direct, indirect or consequential damages (including lost profits) arising out of matters relating to the use of the index, even if notified of the possibility of such damages.
The historical values above have not been verified by an independent third party. The historical performance data is for illustrative purposes only and does not represent the actual performance of any investment product. No representation is being made that any investment will achieve performance similar to that shown. The index does not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the historical performance shown. The index is unmanaged and an investor cannot invest directly in the index.
Performance information for the index is for illustrative purposes only and does not represent the performance of any actual investment. The historical performance of the price and NAV of the index should not be taken as an indication of future performance, and no assurance can be given as to the index's value on any date. The data for the historical performance of the index was calculated on materially the same basis on which the performance of the index is now calculated.
1 Discounts are the result of a closed-end fund's market price deviating from its Net Asset Value (NAV).
