Nuveen New York Quality Municipal Income Fund (NAN)

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Nuveen New York Quality Municipal Income Fund (NAN) is up 5.9% since the beginning of the year. NAN is currently trading at $12 per share. Investors who bought $1,000 worth of NAN shares 5 years ago would now be looking at an investment worth $1,033.

Nuveen New York Quality Municipal Income Fund (NAN) has returned 5.85% so far this year and 10.04% over the past 12 months. Over the last ten years, NAN has returned 2.43% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.

Based on dividend-adjusted daily data since May 26, 1999, NAN's average daily return is +0.02%, while the average monthly return is +0.44%. At this rate, an investment would double in approximately 13.2 years.

Historically, 61% of months were positive and 39% were negative. The best month was Jan 2009 with a return of +23.3%, while the worst month was Apr 2004 at -14.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 7 months.

On a daily basis, NAN closed higher 50% of trading days. The best single day was Oct 13, 2008 with a return of +10.8%, while the worst single day was Mar 18, 2020 at -11.8%.

Nuveen New York Quality Municipal Income Fund has an annualized alpha of 4.09%, beta of 0.15, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since May 27, 1999.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (25.39%) than losses (17.68%) - typical of diversified or defensive assets.
• Beta of 0.15 may look defensive, but with R2 of 0.05 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.05 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

NAN has an expense ratio of 0.04%, which is considered low.

NAN ranks 25 for risk / return — below 25% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Nuveen New York Quality Municipal Income Fund (NAN) and compare them to S&P 500 Index.

Nuveen New York Quality Municipal Income Fund provided a 7.48% dividend yield over the last twelve months, with an annual payout of $0.86 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Nuveen New York Quality Municipal Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Nuveen New York Quality Municipal Income 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 New York Quality Municipal Income Fund was 44.96%, occurring on Oct 10, 2008. Recovery took 344 trading sessions.

The current Nuveen New York Quality Municipal Income Fund drawdown is 1.03%.

The chart below shows the rolling one-month volatility.