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CLOI VanEck CLO ETF Please read important disclosure Close important disclosure false

CLOI
VanEck CLO ETF

CLOI
VanEck CLO ETF

  • NAV
    $52.78

    as of May 06, 2026
  • YTD RETURNS
    1.69%

    as of May 06, 2026
  • Total Net Assets
    $1.32B

    as of May 06, 2026
  • Total Expense Ratio
    0.36%
  • Inception Date
    06/21/2022
  • 30-Day SEC Yield
    5.08%
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Overview

Why CLOI

  • IG Floating Rate CLO ExposureProvides access to investment grade floating rate CLOs
  • Attractive Relative YieldYield pickup versus similarly rated corporate bonds and loans with structural credit protectionsSource: J.P. Morgan and ICE Data Services

The VanEck CLO ETF (CLOI) is an actively managed ETF, sub-advised by PineBridge Investments, seeking capital preservation and current income. It invests primarily in investment grade-rated tranches of collateralized loan obligations (“CLOs”) of any maturity.

Yields  as of  05/06/2026

Distribution Frequency

Monthly

30-Day SEC Yield

5.08%

Distribution Yield

4.97%

12 Month Yield

5.35%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck CLO ETF would have been 5.08% on 05/06/26. Distributions may vary from time to time.

Performance

Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 06/21/22
CLOI (NAV) 0.79 1.01 1.54 6.05 7.14 -- -- 7.28
CLOI (Market Price) 0.71 0.88 1.33 5.65 7.03 -- -- 7.24
J.P. Morgan CLO IG Index 0.67 1.09 1.60 5.97 7.33 -- -- 7.16
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 06/21/22
CLOI (NAV) -0.08 0.75 0.75 5.31 7.15 -- -- 7.22
CLOI (Market Price) -- 0.62 0.62 5.40 7.08 -- -- 7.20
J.P. Morgan CLO IG Index 0.15 0.92 0.92 5.53 7.41 -- -- 7.13

*Returns less than one year are not annualized.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

Holdings

Daily Holdings (%) as of 05/06/2026

Download XLS Get holdings
Total Holdings: 156
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
Anchorage Capital Clo 2026-22 Ltd
4.88
 5.000
01/20/2039
64,418,622
Signal Peak Clo 4 Ltd
2.82
 0.053
10/26/2034
37,156,714
Regatta Vi Funding Ltd
2.77
 5.206
10/20/2038
36,544,312
United States Treasury Bill
2.76
 --
05/19/2026
36,456,675
Ocean Trails Clo Xv Ltd
2.66
 0.049
01/15/2039
35,150,910
Cqs Us Clo 6 Ltd
2.65
 --
03/31/2039
35,013,516
Neuberger Berman Loan Advisers Clo 38 L
2.03
 0.051
10/20/2036
26,793,814
Octagon 64 Ltd
1.90
 0.054
07/21/2037
25,089,046
Neuberger Berman Loan Advisers Clo 42 L
1.71
 0.051
07/16/2036
22,591,713
Sagard-Halseypoint Clo 10 Ltd
1.68
 0.054
10/20/2038
22,193,438
Kkr Clo 36 Ltd
1.68
 0.054
10/15/2034
22,110,523
Silver Rock Clo Ii Ltd
1.60
 0.053
01/20/2035
21,075,865
Trinitas Clo Xix Ltd
1.54
 0.048
10/20/2033
20,260,489
Sculptor Clo Xxix Ltd
1.53
 0.054
07/22/2038
20,146,201
Icg Us Clo 2025-2 Ltd
1.43
 0.050
01/18/2039
18,814,474
Trinitas Clo Xx Ltd
1.29
 0.052
07/20/2035
17,060,564
Capital Four Us Clo Ltd
1.28
 0.050
10/18/2038
16,828,484
Canyon Clo 2020-2 Ltd
1.27
 0.052
10/15/2034
16,736,496
Ozlm Xiv Ltd
1.25
 0.055
01/15/2038
16,514,837
Kkr Clo 37 Ltd
1.19
 0.053
04/20/2038
15,760,957
Sagard-Halseypoint Clo 8 Ltd
1.10
 0.051
01/30/2038
14,540,803
Bluemountain Clo Xxx Ltd
1.10
 0.053
04/15/2035
14,537,791
Lcm 39 Ltd
1.09
 0.057
10/15/2034
14,335,065
Kkr Clo 28 Ltd
1.08
 0.053
02/09/2035
14,276,651
Bluemountain Clo Xxxi Ltd
1.07
 0.053
04/19/2034
14,150,275
Signal Peak Clo 4 Ltd
1.05
 0.057
10/26/2034
13,903,717
Rockford Tower Clo 2021-3 Ltd
1.03
 0.053
01/15/2038
13,562,557
Lcm 40 Ltd
1.00
 0.058
01/15/2038
13,222,867
Sagard-Halseypoint Clo 10 Ltd
0.99
 0.057
10/20/2038
13,093,543
Bluemountain Clo Xxv Ltd
0.99
 0.050
01/15/2038
13,057,879
Trinitas Clo Xviii Ltd
0.97
 0.054
01/20/2035
12,818,021
Bain Capital Credit Clo 2021-2 Ltd
0.96
 0.068
07/16/2034
12,731,434
Rockford Tower Clo 2021-2 Ltd
0.95
 0.054
07/20/2034
12,545,783
Canyon Capital Clo 2019-2 Ltd
0.94
 0.056
10/15/2034
12,383,859
Generate Clo 22 Ltd
0.92
 0.054
07/20/2038
12,097,663
Rockford Tower Clo 2022-3 Ltd
0.91
 0.051
07/20/2037
12,042,163
Columbia Cent Clo 34 Ltd
0.91
 0.053
01/25/2038
12,033,762
Canyon Clo 2020-1 Ltd
0.88
 0.056
07/15/2034
11,552,090
Trinitas Clo Xiv Ltd
0.87
 0.058
01/25/2034
11,531,372
Arini Us Clo Iii Ltd
0.86
 5.190
01/15/2039
11,284,803
Anchorage Capital Clo 2026-22 Ltd
0.84
 5.000
01/20/2039
11,144,046
Sycamore Tree Clo 2021-1 Ltd
0.84
 0.051
01/20/2038
11,067,162
Bluemountain Clo Xxxv Ltd
0.84
 0.054
10/22/2037
11,037,915
Symphony Clo 42 Ltd
0.81
 0.052
04/17/2037
10,646,591
Bain Capital Credit Clo 2017-2 Ltd
0.81
 0.051
07/25/2037
10,635,575
Sound Point Clo Xxvi Ltd
0.80
 0.056
07/20/2034
10,559,244
Rockford Tower Clo 2022-1 Ltd
0.80
 0.054
07/20/2035
10,536,063
Dryden 61 Clo Ltd
0.79
 0.053
01/17/2032
10,417,844
Sound Point Clo 2025r-1 Ltd
0.78
 5.306
02/20/2038
10,332,610
Canyon Capital Clo 2016-1 Ltd
0.76
 0.056
07/15/2031
10,074,460
Signal Peak Clo 3 Ltd
0.76
 --
04/23/2039
10,068,095
Generate Clo 9 Ltd
0.76
 0.054
01/20/2038
10,047,836
Wind River 2024-1 Clo Ltd
0.76
 --
04/20/2037
10,005,321
Bain Capital Credit Clo 2020-3 Ltd
0.76
 0.068
10/23/2034
9,979,004
Columbia Cent Clo 32 Ltd
0.75
 0.058
07/24/2034
9,903,388
Ocean Trails Clo Xi
0.75
 0.052
07/20/2034
9,835,159
Tcw Clo 2019-1 Amr Ltd
0.70
 5.605
08/16/2034
9,273,464
Sculptor Clo Xxviii Ltd
0.68
 0.056
01/20/2035
9,036,726
Bluemountain Clo Xxxiv Ltd
0.67
 0.053
04/20/2035
8,810,715
Rockford Tower Clo 2020-1 Ltd
0.66
 0.056
01/20/2036
8,682,322
Allegro Clo Xii Ltd
0.66
 0.051
07/21/2037
8,655,309
Bridge Street Clo Ii Ltd
0.65
 0.054
01/20/2039
8,588,438
Rockford Tower Clo 2021-2 Ltd
0.65
 0.056
07/20/2034
8,534,286
Anchorage Capital Clo 17 Ltd
0.60
 0.051
02/28/2038
7,895,413
Wellfleet Clo 2021-2 Ltd
0.59
 0.054
07/15/2034
7,789,740
Columbia Cent Clo 35 Ltd
0.57
 0.054
07/25/2036
7,522,163
Signal Peak Clo 4 Ltd
0.55
 0.071
10/26/2034
7,198,602
Trinitas Clo Xix Ltd
0.53
 0.066
10/20/2033
6,998,870
Bain Capital Credit Clo 2021-4 Ltd
0.50
 0.070
10/20/2034
6,600,828
Sculptor Clo Xxix Ltd
0.47
 0.050
07/22/2038
6,236,178
Canyon Capital Clo 2016-2 Ltd
0.46
 0.057
10/15/2031
6,044,861
Invesco Us Clo 2024-1 Ltd
0.46
 --
04/15/2037
6,038,021
Icg Us Clo 2021-3 Ltd
0.46
 0.058
10/20/2034
6,027,112
Wind River 2021-2 Clo Ltd
0.46
 0.053
07/20/2034
6,021,676
Ocp Clo 2019-17 Ltd
0.45
 0.051
07/20/2037
5,978,956
Bain Capital Credit Clo 2021-1 Ltd
0.45
 0.051
04/18/2034
5,970,906
Octagon 54 Ltd
0.45
 0.051
07/15/2034
5,923,791
Columbia Cent Clo 31 Ltd
0.44
 0.053
04/20/2034
5,762,837
Fort Washington Clo 2019-1
0.42
 0.054
10/20/2037
5,522,575
Brant Point Clo 2024-4 Ltd
0.42
 0.054
07/20/2037
5,521,662
Wellfleet Clo 2021-2 Ltd
0.41
 0.074
07/15/2034
5,389,398
Dryden 95 Clo Ltd
0.40
 6.706
08/20/2034
5,321,074
Canyon Capital Clo 2019-2 Ltd
0.40
 0.047
10/15/2034
5,305,819
Signal Peak Clo 9 Ltd
0.40
 0.050
01/21/2038
5,298,702
Marble Point Clo Xxii Ltd
0.40
 0.054
07/25/2034
5,211,288
Park Blue Clo 2024-V Ltd
0.39
 0.052
07/25/2037
5,114,895
Silver Point Clo 9 Ltd
0.38
 0.055
03/31/2038
5,034,834
Wehle Park Clo Ltd
0.38
 0.056
10/21/2038
5,015,821
Bluemountain Clo Xxxii Ltd
0.38
 0.068
10/15/2034
5,002,321
United States Treasury Bill
0.38
 --
06/30/2026
4,973,031
Menlo Clo Iv Ltd
0.34
 5.000
03/20/2039
4,531,944
Midocean Credit Clo Xi Ltd
0.34
 0.052
01/18/2036
4,513,876
Bain Capital Credit Clo 2021-7 Ltd
0.34
 0.055
01/22/2035
4,504,015
Anchorage Capital Clo 17 Ltd
0.32
 0.053
02/28/2038
4,273,370
Tcw Clo 2020-1 Ltd
0.32
 0.057
04/20/2034
4,169,695
Wind River 2022-1 Clo Ltd
0.32
 0.050
07/20/2035
4,163,639
Silver Rock Clo V Ltd
0.31
 5.000
01/20/2039
4,079,493
Midocean Credit Clo Xiv Ltd
0.28
 --
04/15/2037
3,698,325
Octagon 66 Ltd
0.28
 5.652
02/16/2037
3,692,996
Lcm 39 Ltd
0.27
 0.069
10/15/2034
3,544,459
Creeksource 2024-1 Dunes Creek Clo Ltd
0.27
 0.053
01/15/2038
3,517,507
Lcm 41 Ltd
0.25
 0.054
04/15/2036
3,314,041
Trinitas Clo Xvii Ltd
0.25
 0.069
10/20/2034
3,243,242
Tcw Clo 2019-1 Amr Ltd
0.24
 7.584
08/16/2034
3,164,981
Anchorage Capital Clo 30 Ltd
0.23
 0.053
01/20/2037
3,085,343
Polus Us Clo Iii Ltd
0.23
 5.687
01/20/2039
3,067,862
Rockford Tower Clo 2019-2 Ltd
0.23
 5.656
08/20/2032
3,038,987
Agl Core Clo 8 Ltd
0.23
 0.052
01/20/2038
3,008,939
Regatta Xvi Funding Ltd
0.23
 0.051
04/15/2039
3,001,150
Sound Point Clo Xxix Ltd
0.22
 0.053
04/25/2034
2,907,439
Midocean Credit Clo Xx
0.20
 0.049
01/20/2039
2,692,992
Aimco Clo 24 Ltd
0.20
 0.055
04/19/2038
2,669,445
Harvest Us Clo 2023-1 Ltd
0.19
 0.052
01/15/2037
2,513,020
Tcw Clo 2019-1 Amr Ltd
0.18
 4.954
08/16/2034
2,328,064
Columbia Cent Clo 34 Ltd
0.18
 0.055
01/25/2038
2,311,927
Wise Clo 2023-1 Ltd
0.17
 0.054
10/20/2038
2,258,896
Sound Point Clo Xxxi Ltd
0.16
 0.072
10/25/2034
2,163,495
Canyon Capital Clo 2019-1 Ltd
0.16
 0.051
07/15/2037
2,158,912
Whitebox Clo Iii Ltd
0.16
 0.056
10/15/2035
2,110,837
Bluemountain Clo Xxxiii Ltd
0.15
 0.074
10/20/2038
2,026,985
Polus Us Clo Ii Ltd
0.15
 0.084
07/20/2038
2,018,021
Palmer Square Clo 2023-2 Ltd
0.15
 0.059
07/20/2038
2,016,899
Anchorage Capital Clo 15 Ltd
0.15
 0.058
07/20/2038
2,014,151
Madison Park Funding Lxiii Ltd
0.15
 0.058
07/21/2038
2,013,689
Thl Credit Wind River 2017-3 Clo Ltd
0.15
 0.059
04/15/2035
2,011,937
Sculptor Clo Xxx Ltd
0.15
 0.057
07/20/2038
2,010,425
Tcw Clo 2023-1 Ltd
0.15
 0.054
03/31/2038
2,008,305
Silver Rock Clo Ii Ltd
0.15
 0.058
01/20/2035
2,008,125
Barings Clo Ltd 2024-I
0.15
 --
01/20/2039
2,005,903
Lcm 41 Ltd
0.14
 0.073
04/15/2036
1,820,557
Wind River 2021-2 Clo Ltd
0.13
 0.057
07/20/2034
1,762,044
Sculptor Clo Xxvi Ltd
0.13
 0.055
01/20/2038
1,735,065
Aimco Clo Series 2018-B
0.11
 --
04/16/2037
1,513,958
Hps Loan Management 2023-18 Ltd
0.11
 0.067
07/20/2039
1,512,779
Cbam 2017-2 Ltd
0.11
 0.058
07/17/2034
1,508,291
Columbia Cent Clo 35 Ltd
0.11
 0.057
07/25/2036
1,504,399
Signal Peak Clo 10 Ltd
0.11
 0.051
01/24/2038
1,503,706
Octagon 71 Ltd
0.10
 --
04/18/2037
1,274,145
Kkr Clo 24 Ltd
0.09
 0.050
04/20/2032
1,223,951
Lcm 39 Ltd
0.09
 0.107
10/15/2034
1,210,434
Halseypoint Clo 7 Ltd
0.09
 0.059
07/20/2038
1,207,429
Carlyle Us Clo 2021-7 Ltd
0.09
 0.049
04/15/2038
1,154,148
Sound Point Clo Xxvi Ltd
0.08
 0.051
07/20/2034
1,103,768
Dryden 104 Clo Ltd
0.08
 5.256
08/20/2034
1,087,736
Midocean Credit Clo Xiv Ltd
0.08
 --
04/15/2037
1,008,593
Wind River 2023-1 Clo Ltd
0.08
 0.057
07/25/2038
1,005,535
Sound Point Clo Xxiii
0.08
 0.051
07/15/2034
1,004,065
Anchorage Capital Clo 17 Ltd
0.08
 0.049
02/15/2038
1,003,589
Allegro Clo Xv Ltd
0.08
 0.049
04/20/2038
1,002,906
Bain Capital Credit Clo 2021-7 Ltd
0.07
 0.102
01/22/2035
975,958
Kkr Clo 27 Ltd
0.07
 0.099
01/15/2035
952,024
Regatta Xii Funding Ltd
0.05
 0.048
10/15/2037
601,982
Bluemountain Clo 2018-3 Ltd
0.04
 0.049
10/25/2030
584,597
Lcm 29 Ltd
0.02
 0.050
04/15/2031
324,441
Dryden 64 Clo Ltd
0.01
 0.049
04/18/2031
187,521
--
0.08
 --
--
1,058,576
Other/Cash
-0.02
 --
--
-268,974
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Country of risk is defined using the International Organization for Standardization’s (ISO) country codes which take four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the CEO, CFO, COO or General Counsel is otherwise.

Portfolio

Credit Quality (%) as of 03/31/2026

Composite % of Net Assets
Investment Grade AAA 38.44
AA 38.51
A 13.70
BBB 4.76
Non-Investment Grade BB 1.46
Total Investment Grade -- 95.41
Total Non-Investment Grade -- 1.46
Not Rated -- 4.13
If more than one rating is available for an underlying security, the lowest rating is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Years to Maturity as at 03/31/2026

  • Years

    Maturity (%)

  • < 1

    3.18

  • 1 - 3

    0.00

  • 3 - 5

    0.08

  • 5 - 7

    2.33

  • 7 - 10

    38.98

  • 10 - 15

    56.15

  • 15 - 20

    0.00

  • 20 - 30

    0.00

  • 30 +

    0.00

Fees

Distributions

Distribution History

Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains
Ex-date Record
Date 		Payable date Dividend
Income‡ 		Short-Term
Capital Gains 		Long-Term
Capital Gains 		Return of
Capital 		Total
Distributions
05/01/2026 05/01/2026 05/06/2026 $ 0.2185 -- -- -- $ 0.22
04/01/2026 04/01/2026 04/07/2026 $ 0.2216 -- -- -- $ 0.22
03/02/2026 03/02/2026 03/05/2026 $ 0.2002 -- -- -- $ 0.20
02/02/2026 02/02/2026 02/05/2026 $ 0.2334 -- -- -- $ 0.23
12/29/2025 12/29/2025 12/31/2025 $ 0.2332 $ 0.0070 $ 0.0279 -- $ 0.27
11/28/2025 11/28/2025 12/03/2025 $ 0.2279 -- -- -- $ 0.23
11/03/2025 11/03/2025 11/06/2025 $ 0.2454 -- -- -- $ 0.25
10/01/2025 10/01/2025 10/06/2025 $ 0.2416 -- -- -- $ 0.24
09/02/2025 09/02/2025 09/05/2025 $ 0.2502 -- -- -- $ 0.25
08/01/2025 08/01/2025 08/06/2025 $ 0.2486 -- -- -- $ 0.25
07/01/2025 07/01/2025 07/07/2025 $ 0.2431 -- -- -- $ 0.24
06/02/2025 06/02/2025 06/05/2025 $ 0.2617 -- -- -- $ 0.26
05/01/2025 05/01/2025 05/06/2025 $ 0.2359 -- -- -- $ 0.24
04/01/2025 04/01/2025 04/04/2025 $ 0.2596 -- -- -- $ 0.26
03/03/2025 03/03/2025 03/06/2025 $ 0.2175 -- -- -- $ 0.22
02/03/2025 02/03/2025 02/06/2025 $ 0.2612 -- -- -- $ 0.26
12/27/2024 12/27/2024 12/30/2024 $ 0.2782 $ 0.0808 $ 0.0371 -- $ 0.40
12/02/2024 12/02/2024 12/05/2024 $ 0.2520 -- -- -- $ 0.25
11/01/2024 11/01/2024 11/06/2024 $ 0.2643 -- -- -- $ 0.26
10/01/2024 10/01/2024 10/04/2024 $ 0.2620 -- -- -- $ 0.26
09/03/2024 09/03/2024 09/06/2024 $ 0.3091 -- -- -- $ 0.31
08/01/2024 08/01/2024 08/06/2024 $ 0.2840 -- -- -- $ 0.28
07/01/2024 07/01/2024 07/05/2024 $ 0.3120 -- -- -- $ 0.31
06/03/2024 06/03/2024 06/06/2024 $ 0.2947 -- -- -- $ 0.29
05/01/2024 05/02/2024 05/07/2024 $ 0.2747 -- -- -- $ 0.27
04/01/2024 04/02/2024 04/05/2024 $ 0.2971 -- -- -- $ 0.30
03/01/2024 03/04/2024 03/07/2024 $ 0.2635 -- -- -- $ 0.26
02/01/2024 02/02/2024 02/07/2024 $ 0.3305 -- -- -- $ 0.33
12/27/2023 12/28/2023 12/29/2023 $ 0.2648 -- -- -- $ 0.26
12/01/2023 12/04/2023 12/07/2023 $ 0.2235 -- -- -- $ 0.22
11/01/2023 11/02/2023 11/07/2023 $ 0.2518 -- -- -- $ 0.25
10/02/2023 10/03/2023 10/06/2023 $ 0.2317 -- -- -- $ 0.23
09/01/2023 09/05/2023 09/08/2023 $ 0.2816 -- -- -- $ 0.28
08/01/2023 08/02/2023 08/10/2023 $ 0.2327 -- -- -- $ 0.23
07/03/2023 07/05/2023 07/07/2023 $ 0.2399 -- -- -- $ 0.24
06/01/2023 06/02/2023 06/07/2023 $ 0.2728 -- -- -- $ 0.27
05/01/2023 05/02/2023 05/05/2023 $ 0.2189 -- -- -- $ 0.22
04/03/2023 04/04/2023 04/10/2023 $ 0.2505 -- -- -- $ 0.25
03/01/2023 03/02/2023 03/07/2023 $ 0.1732 -- -- -- $ 0.17
02/01/2023 02/02/2023 02/07/2023 $ 0.2848 -- -- -- $ 0.28
12/28/2022 12/29/2022 12/30/2022 $ 0.2144 -- -- -- $ 0.21
12/01/2022 12/02/2022 12/07/2022 $ 0.2351 -- -- -- $ 0.24
11/01/2022 11/02/2022 11/07/2022 $ 0.1815 -- -- -- $ 0.18
10/03/2022 10/04/2022 10/07/2022 $ 0.1623 -- -- -- $ 0.16
09/01/2022 09/02/2022 09/08/2022 $ 0.1830 -- -- -- $ 0.18
08/01/2022 08/02/2022 08/05/2022 $ 0.1520 -- -- -- $ 0.15

‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.

Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.

Click here to access more detailed yearend tax information

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