Nuveen Massachusetts Municipal Bond Fund (NBMAX)
The investment seeks to provide with as high a level of current interest income exempt from regular federal, Massachusetts State and, in some cases, Massachusetts local income taxes as is consistent with preservation of capital. The fund normally 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 Massachusetts personal income tax. The fund may invest up to 20% of its net assets in below investment grade municipal bonds, commonly referred to as âhigh yieldâ or âjunkâ bonds.
Fund Info
US67065N8112
Dec 21, 1986
$100,000
Expense Ratio
NBMAX features an expense ratio of 0.57%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Nuveen Massachusetts 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 Massachusetts Municipal Bond Fund had a return of -0.03% year-to-date (YTD) and 2.31% in the last 12 months. Over the past 10 years, Nuveen Massachusetts Municipal Bond Fund had an annualized return of 1.91%, while the S&P 500 had an annualized return of 11.31%, indicating that Nuveen Massachusetts Municipal Bond Fund did not perform as well as the benchmark.
NBMAX
-0.03%
0.51%
0.24%
2.31%
-0.04%
1.91%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of NBMAX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -0.03% | -0.03% | |||||||||||
| 2024 | -0.05% | 0.05% | -0.21% | -0.64% | 0.05% | 1.36% | 0.81% | 0.50% | 0.93% | -1.09% | 1.37% | -1.10% | 1.96% |
| 2023 | 2.84% | -2.11% | 1.87% | 0.02% | -0.61% | 0.79% | 0.14% | -1.05% | -2.59% | -1.65% | 6.02% | 2.12% | 5.62% |
| 2022 | -2.77% | -0.61% | -3.36% | -3.59% | 1.34% | -2.33% | 2.66% | -2.19% | -4.07% | -1.01% | 4.53% | -0.33% | -11.46% |
| 2021 | 0.66% | -1.81% | 0.65% | 1.22% | 0.54% | 0.35% | 0.82% | -0.49% | -0.87% | -0.29% | 1.18% | 0.25% | 2.19% |
| 2020 | 2.06% | 1.55% | -4.38% | -2.43% | 3.36% | 1.30% | 1.87% | -0.56% | 0.01% | -0.18% | 1.84% | 0.67% | 4.96% |
| 2019 | 0.36% | 0.57% | 1.88% | 0.46% | 1.35% | 0.45% | 0.74% | 1.98% | -0.74% | 0.03% | 0.13% | 0.22% | 7.65% |
| 2018 | -1.31% | -0.54% | 0.46% | -0.44% | 1.17% | 0.16% | -0.04% | 0.06% | -0.64% | -0.85% | 0.88% | 1.19% | 0.06% |
| 2017 | 0.26% | 0.66% | 0.16% | 0.56% | 1.56% | -0.14% | 0.55% | 0.65% | -0.43% | 0.36% | -0.04% | 1.25% | 5.53% |
| 2016 | 0.88% | 0.09% | 0.58% | 0.77% | 0.48% | 1.73% | -0.10% | 0.16% | -0.51% | -0.90% | -3.24% | 0.97% | 0.83% |
| 2015 | 1.79% | -1.04% | 0.41% | -0.57% | -0.28% | -0.18% | 0.82% | 0.50% | 0.50% | 0.30% | 0.20% | 0.99% | 3.46% |
| 2014 | 2.53% | 1.16% | 0.13% | 1.55% | 1.53% | 0.03% | 0.23% | 1.42% | 0.23% | 0.72% | 0.07% | 0.72% | 10.79% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of NBMAX is 32, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Nuveen Massachusetts Municipal Bond Fund (NBMAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Nuveen Massachusetts Municipal Bond Fund provided a 3.38% dividend yield over the last twelve months, with an annual payout of $0.31 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.31 | $0.27 | $0.22 | $0.21 | $0.26 | $0.30 | $0.31 | $0.31 | $0.34 | $0.35 | $0.40 |
Dividend yield | 3.38% | 3.35% | 2.92% | 2.40% | 1.97% | 2.50% | 2.88% | 3.16% | 3.06% | 3.40% | 3.38% | 3.92% |
Monthly Dividends
The table displays the monthly dividend distributions for Nuveen Massachusetts 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.00 | $0.03 | ||||||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.27 |
| 2022 | $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 |
| 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 | $0.21 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2019 | $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 |
| 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 | $0.31 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.35 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.40 |
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 Massachusetts 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 Massachusetts Municipal Bond Fund was 17.04%, occurring on Dec 15, 2008. Recovery took 176 trading sessions.
The current Nuveen Massachusetts Municipal Bond Fund drawdown is 5.03%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.04% | Jan 24, 2008 | 226 | Dec 15, 2008 | 176 | Aug 27, 2009 | 402 |
| -15.61% | Jul 20, 2021 | 322 | Oct 25, 2022 | — | — | — |
| -12.25% | Mar 10, 2020 | 9 | Mar 20, 2020 | 170 | Nov 19, 2020 | 179 |
| -10.48% | Feb 1, 1994 | 211 | Nov 22, 1994 | 91 | Mar 29, 1995 | 302 |
| -8.46% | May 3, 2013 | 90 | Sep 10, 2013 | 166 | May 8, 2014 | 256 |
Volatility
Volatility Chart
The current Nuveen Massachusetts Municipal Bond Fund volatility is 1.07%, 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.