Nuveen Muni Bond Funds Overview and Performance

Nuveen Muni Bond Funds are designed to provide income and diversification to investors, with a focus on municipal bonds. They have a long history of investing in the municipal bond market, with over 90 years of experience.

The funds offer a range of options, from short-term to long-term investments, to suit different investor needs. This allows investors to choose the right fund for their individual goals and risk tolerance.

Nuveen Muni Bond Funds have a strong reputation for stability and consistency, with many funds having a low volatility rating. This makes them a popular choice for investors seeking predictable returns.

Investors can choose from a variety of Nuveen Muni Bond Funds, each with its own unique investment strategy and focus.

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The nuveen muni bond funds offer a range of investment options, but have you ever wondered what you're really getting into?

The expense ratio of these funds is based on the most recent fiscal year end, so you can expect the numbers to change over time. This information is crucial in understanding the overall cost of investing in these funds.

The net expense ratio excludes credits earned on cash on deposit with the custodian bank, if any, and also reflects a contractual commitment by the Fund's investment adviser to waive fees and/or reimburse expenses through 31 Jul 2026. This means you won't have to pay as much in fees for now, but keep in mind that absent this waiver and/or reimbursement, expenses would be higher and total returns would be less.

Here are some key details about the nuveen muni bond funds:

Performance metrics for Nuveen muni bond funds can be a bit complex, but let's break it down.

Average annual total returns are a key metric, and they vary depending on the specific fund. You can find these returns in the performance section of the fund's documentation.

Calendar year returns are another important metric, and they give you an idea of how the fund performed over a specific period. These returns are also included in the performance section.

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Morningstar Medalist Ratings and Morningstar Ratings are two separate ratings systems that evaluate the fund's performance and management. These ratings can give you an idea of how the fund stacks up against its peers.

Lipper rankings are another way to evaluate the fund's performance, and they're based on total return. These rankings can be a bit tricky to understand, but essentially, they compare the fund's performance to other funds in its category.

If you're looking at the performance of a specific fund, you may see a table or chart showing the fund's return ranking over different periods. This can give you a sense of how the fund has performed over time.

Here's an example of what you might see:

Keep in mind that past performance is no guarantee of future results, and you should always do your own research before investing in any fund.

Morningstar ratings for Nuveen muni bond funds may vary among share classes and are based on historical risk-adjusted total returns, which are not indicative of future results.

Nuveen muni bond funds employ high yield strategies, including significant investment in below investment grade bonds and opportunistic use of portfolio leverage through investment in inverse floating rate securities.

Lipper rankings for Nuveen muni bond funds are based on total return and related to each share class. The returns assume reinvestment of dividends and do not reflect any applicable sales charge.

A negative SEC 30-Day Yield results when accrued expenses of the past 30 days exceed the income generated during the past 30 days.

Here's a breakdown of Nuveen muni bond fund rankings over the past few years:

Past performance is no guarantee of future results, and it's essential to consider these rankings in the context of your overall investment strategy.

The Taxable-Equivalent Yield for a Fund's share class with a negative SEC 30-Day Yield is not provided because it does not represent the yield that must be earned on a taxable investment in order to equal the yield of the Fund on an after-tax basis. This is because it does not provide a meaningful comparison of the Fund's yield against the yield of a taxable investment at the assumed tax rate.

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The SEC 30-Day Yield is computed under an SEC standardized formula and is based on the maximum offer price per share. The Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis at a specified tax rate.

Funds that generate qualified dividend income that is taxable at a rate lower than an individual's ordinary graduated tax rate will have a lower Taxable-Equivalent Yield. This is because the yield is based on the Fund's Distribution Rate or SEC 30-Day Yield on the indicated date and the combined federal and state (if applicable) income tax rate shown.

Unless you are eligible for a waiver, you may be assessed a contingent deferred sales charge (CDSC) of 1% if you redeem any of your shares within 18 months of purchase.

The Taxable-Equivalent Yield for a Fund's share class with a negative SEC 30-Day Yield is not provided because it does not represent the yield that must be earned on a taxable investment in order to equal the yield of the Fund on an after-tax basis.

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The SEC 30-Day Yield is computed under an SEC standardized formula and is based on the maximum offer price per share. This means that the yield is calculated based on the highest possible price at which shares are offered.

Past performance does not guarantee future results, so it's essential to consider this when evaluating a Fund's performance.

The Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis at a specified tax rate.

With respect to investments that generate qualified dividend income that is taxable at a rate lower than an individual's ordinary graduated tax rate, the Taxable-Equivalent Yield would be lower.

The Taxable-Equivalent Yield is based on the Fund's Distribution Rate or SEC 30-Day Yield on the indicated date and the combined federal and state (if applicable) income tax rate shown.

Unless you are eligible for a waiver, you may be assessed a contingent deferred sales charge (CDSC) of 1% if you redeem any of your shares within 18 months of purchase.

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The distribution rate is the latest declared regular distribution, annualized, relative to the NAV. Special distributions, including special capital gains distributions, are not included in the calculation.

The fund intends to declare dividends daily and pay dividends monthly, usually on the first business day of the month. This means you can expect to receive a dividend payment at the beginning of each month.

The distribution rate should not be confused with yield or performance. It's a separate metric that provides insight into the fund's regular distribution habits.

Here's a breakdown of the fund's distribution frequency:

This regular distribution schedule can help you plan your investments and make informed decisions about your portfolio.

The distribution rate is not estimated to include a return of capital. This means that the distribution rate is based on the fund's net investment income, which can include both Short-Term Capital Gain and market discount.

Funds are required to recognize Short-Term Capital Gain and market discount as ordinary taxable income. This is an important consideration for investors, as it can impact the tax implications of their investments.

Any re-characterization of the fund's distributions will be reported in shareholders' 1099-DIV forms after the end of the year.

Nuveen muni bond funds have credit ratings from S&P, Moody's, or Fitch, which are subject to change.

AAA, AA, A, and BBB ratings are considered investment grade, while BB, B, CCC/CC/C, and D ratings are below-investment grade.

Holdings designated as Not Rated are not rated by these national rating agencies.

Positions of inverse floating rate securities show only the amount of the residual inverse floater, not the underlying bond and associated liability.

All characteristics are shown as a percentage of the fund's total net assets, and holdings and ratings are subject to change.

Totals may not add up to 100% due to rounding.

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Annual expense ratios for Nuveen Muni Bond Funds are an important consideration for investors. The Fund has adopted a Distribution and Servicing Plan for Class A1 and Class A2 Common Shares, which allows for distribution and servicing fees to be paid to the Distributor.

These fees are calculated as a percentage of the Fund's average daily net assets attributable to the respective common share classes. The maximum annual rates for these fees are 0.75% for Class A1 and 0.50% for Class A2.

The Fund's adviser has agreed to waive fees and/or reimburse expenses through July 31, 2027 to keep the total annual operating expenses below 1.50% of the average daily managed assets.

Here's a breakdown of the maximum annual rates for distribution and servicing fees:

It's worth noting that expense ratios are calculated using the prior 12 months of expense data as of the previous quarter-end.