Nuveen Minnesota Municipal Bond Fund (FJMNX)
The investment seeks to provide maximum current income that is exempt from both federal income tax and Minnesota state income tax to the extent consistent with prudent investment risk. Under normal market conditions, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal and Minnesota personal income tax.
Fund Info
| ISIN | US6706781845 |
|---|---|
| CUSIP | 670678184 |
| Issuer | Nuveen |
| Inception Date | Jul 10, 1988 |
| Category | Municipal Bonds |
| Min. Investment | $3,000 |
| Asset Class | Bond |
Expense Ratio
FJMNX features an expense ratio of 0.77%, falling within the medium range.
Share Price Chart
Loading data...
Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: FJMNX vs. SVBAX, FJMNX vs. DODIX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Nuveen Minnesota Municipal Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Nuveen Minnesota Municipal Bond Fund had a return of 2.81% year-to-date (YTD) and 8.00% in the last 12 months. Over the past 10 years, Nuveen Minnesota Municipal Bond Fund had an annualized return of 2.24%, while the S&P 500 had an annualized return of 11.31%, indicating that Nuveen Minnesota Municipal Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.81% | 24.72% |
| 1 month | -0.17% | 2.30% |
| 6 months | 2.35% | 12.31% |
| 1 year | 8.00% | 32.12% |
| 5 years (annualized) | 0.81% | 13.81% |
| 10 years (annualized) | 2.24% | 11.31% |
Monthly Returns
The table below presents the monthly returns of FJMNX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.11% | 0.20% | -0.19% | -0.71% | 0.02% | 1.62% | 0.76% | 0.67% | 0.94% | -0.99% | 2.81% | ||
| 2023 | 3.18% | -2.20% | 1.58% | -0.01% | -0.75% | 0.83% | 0.18% | -1.22% | -3.13% | -2.07% | 6.94% | 2.37% | 5.42% |
| 2022 | -2.33% | -0.51% | -2.99% | -2.99% | 1.01% | -2.16% | 2.72% | -2.21% | -4.39% | -1.31% | 5.40% | -0.12% | -9.82% |
| 2021 | 0.34% | -1.39% | 0.43% | 0.81% | 0.33% | 0.53% | 0.80% | -0.27% | -0.76% | -0.33% | 0.95% | 0.14% | 1.56% |
| 2020 | 1.51% | 1.39% | -4.26% | -2.15% | 3.37% | 1.23% | 1.55% | -0.31% | 0.11% | -0.22% | 1.37% | 0.58% | 4.02% |
| 2019 | 0.53% | 0.70% | 1.65% | 0.51% | 1.28% | 0.42% | 0.76% | 1.68% | -0.58% | 0.08% | 0.17% | 0.25% | 7.69% |
| 2018 | -1.36% | -0.43% | 0.61% | -0.43% | 1.14% | 0.09% | 0.09% | 0.26% | -0.69% | -1.05% | 0.98% | 1.23% | 0.39% |
| 2017 | 0.35% | 0.87% | 0.35% | 0.78% | 1.73% | -0.09% | 0.51% | 0.85% | -0.34% | 0.26% | -0.08% | 1.10% | 6.47% |
| 2016 | 1.14% | -0.13% | 0.72% | 0.71% | 0.36% | 1.69% | -0.06% | 0.17% | -0.40% | -0.90% | -4.71% | 1.24% | -0.31% |
| 2015 | 1.75% | -0.87% | 0.39% | -0.46% | -0.29% | -0.03% | 0.74% | 0.31% | 0.82% | 0.39% | 0.47% | 0.81% | 4.08% |
| 2014 | 2.41% | 1.30% | 0.67% | 1.28% | 1.53% | 0.14% | 0.31% | 1.43% | 0.22% | 0.73% | 0.14% | 0.65% | 11.34% |
| 2013 | 0.57% | 0.40% | -0.68% | 1.32% | -1.37% | -4.59% | -1.28% | -1.84% | 2.35% | 0.86% | -0.22% | -0.49% | -5.04% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of FJMNX is 65, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Nuveen Minnesota Municipal Bond Fund (FJMNX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Nuveen Minnesota Municipal Bond Fund provided a 3.54% dividend yield over the last twelve months, with an annual payout of $0.38 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.38 | $0.35 | $0.27 | $0.22 | $0.30 | $0.36 | $0.36 | $0.38 | $0.39 | $0.43 | $0.43 | $0.43 |
Dividend yield | 3.54% | 3.25% | 2.58% | 1.79% | 2.49% | 3.01% | 3.14% | 3.21% | 3.43% | 3.63% | 3.65% | 3.94% |
Monthly Dividends
The table displays the monthly dividend distributions for Nuveen Minnesota Municipal Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.32 | |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.27 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.22 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.30 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.38 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Nuveen Minnesota Municipal Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Nuveen Minnesota Municipal Bond Fund was 15.27%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Nuveen Minnesota Municipal Bond Fund drawdown is 2.60%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.27% | Aug 6, 2021 | 309 | Oct 25, 2022 | — | — | — |
| -13.9% | Jan 24, 2008 | 226 | Dec 15, 2008 | 168 | Aug 17, 2009 | 394 |
| -12.01% | Oct 18, 1993 | 286 | Nov 21, 1994 | 94 | Mar 31, 1995 | 380 |
| -11.73% | Mar 10, 2020 | 9 | Mar 20, 2020 | 170 | Nov 19, 2020 | 179 |
| -9.39% | May 3, 2013 | 87 | Sep 5, 2013 | 184 | May 30, 2014 | 271 |
Volatility
Volatility Chart
The current Nuveen Minnesota Municipal Bond Fund volatility is 1.52%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.