XA Investments Announces INTVL-C, Expanding Its Interval Fund Index Suite with an Alternative Credit Benchmark
CHICAGO, Dec. 29, 2025 (GLOBE NEWSWIRE) -- XA Investments LLC ("XAI"), a leader in closed-end interval and tender offer fund research, announced it plans to expand the XAI Interval Fund Index™ ("INTVL") suite with its first sub-index. Expected to launch in Q1 2026, the XAI Interval Fund Credit Index™ ("INTVL-C") will track the performance of credit interval and tender offer funds.
The sub-index will offer asset managers greater transparency with a more comprehensive look at category constituents that have not been offered before. INTVL-C will provide fund sponsors with valuable performance metrics to improve investment decisions and risk assessment in credit funds, while enabling better fund comparisons through a dedicated benchmark.
"INTVL-C is instrumental in helping fund managers benchmark credit interval funds against a universe of similar peers," stated Kimberly Flynn, President of XA Investments. "Calculated on a total return basis, the sub-index provides fund managers a direct way to compare their funds against the most comprehensive interval fund credit index of over 50 credit interval and tender offer funds."
The sub-index factors in credit-centric elements such as distribution reinvestments, and calculations on a net total return basis. Its structure will ensure fair performance comparisons among funds with similar investment profiles and operational constraints, supporting more meaningful evaluation and informed decision-making.
The constituents that comprise INTVL-C represent a concentrated group of market leaders within the interval fund marketplace, capturing the funds that have emerged as primary drivers of performance within the segment. The top 10 leaders include funds from managers such as Cliffwater, CION, Carlyle, PIMCO, Lord Abbett, Variant, Stone Ridge, Apollo and Federated Hermes.
The XAI Interval Fund Credit Index™ (INTVL-C), a total return sub-index of the XAI Interval Fund Index™, tracks the performance of alternative credit non-listed closed-end interval and tender offer funds registered under the Investment Company Act of 1940 with majority allocations to credit strategies, including direct lending, multi-strategy, asset-backed lending, and structured credit, and currently consists of 54 constituents. The XAI Interval Fund Index™, also a total return index, measures the broader interval and tender offer fund universe with more than $100 million in net assets, offering diversified exposure across seven asset classes—credit, real estate/real assets, hedge funds, specialty, multi-asset, tax-free bonds, and venture/private equity—and currently consists of 93 constituents. Both indexes include interval and tender offer funds with daily or weekly net asset values that meet minimum asset thresholds, are calculated daily, rebalanced quarterly, and are maintained by Indxx, Inc. as the index calculation agent.
If you would like to license INTVL, INTVL-C, or have any questions, please contact [email protected] or 888-903-3358. The XAI Interval Fund Index™ is available on Bloomberg under the ticker INTVL.About XA Investments
XA Investments LLC ("XAI") is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund, respectively the XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT), the XAI Madison Equity Premium Income Fund (NYSE:MCN), and the Octagon XAI CLO Income Fund (OCTIX). In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit www.xainvestments.com.
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