Things must be tough at Nuveen.
It looks as though in an effort to cut costs they’ve replaced a superior ETFConnect.com with an inferior CEFConnect.com. It also appears that they replaced Lipper, which I believe was the previous data provider for ETFConnect.com, with Morningstar.
The new website is basically a warmed over Morningstar website for CEFs—it’s the same information. What you end up with is a lot less information and data configured for obfuscation.
As with credit rating companies who rated junk “AAA”, Morningstar doesn’t seem to have a clue as to configure data for the purpose of making an investment decision. As an illustration, their CEF rating system is based on their past performance to which they admit has no predictive value. Their rating system would be incredibly helpful if an investor was driving backwards.
Having the ability to compare CEFs with ETFs on a comparable platform was very helpful. Additionally, the ability to see historical numerical data on one page as opposed to having to flip through it year-by-year was an important analytical tool. I guess, in the case of Morningstar, when you don't have to make an investment decision, these issues are not important.
I’m sorry to see ETFconnect.com be retired and have it replaced with an albatross for the purpose of CEF investment analysis. We can only hope that there will be incremental improvements over time.