Nuveen High Yield Municipal Bond Fund Class A (NHMAX)

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Nuveen High Yield Municipal Bond Fund Class A (NHMAX) is up 3.4% since the beginning of the year. NHMAX is currently trading at $14 per share. Investors who bought $1,000 worth of NHMAX shares 5 years ago would now be looking at an investment worth $1,039.

Nuveen High Yield Municipal Bond Fund Class A (NHMAX) has returned 3.38% so far this year and 9.06% over the past 12 months. Over the last ten years, NHMAX has returned 3.34% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jun 7, 1999, NHMAX's average daily return is +0.02%, while the average monthly return is +0.41%. At this rate, an investment would double in approximately 14.1 years.

Historically, 71% of months were positive and 29% were negative. The best month was Sep 2009 with a return of +11.2%, while the worst month was Dec 2008 at -14.6%. The longest winning streak lasted 17 consecutive months, and the longest losing streak was 4 months.

On a daily basis, NHMAX closed higher 49% of trading days. The best single day was Mar 25, 2020 with a return of +5.5%, while the worst single day was Mar 19, 2020 at -6.0%.

Nuveen High Yield Municipal Bond Fund Class A has an annualized alpha of 4.69%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 07, 1999.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (22.63%) than losses (12.09%) - typical of diversified or defensive assets.
• Beta of 0.01 may look defensive, but with R2 of 0.00 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 0.00 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.

NHMAX has a high expense ratio of 2.00%, indicating above-average management fees.

NHMAX ranks 59 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

Nuveen High Yield Municipal Bond Fund Class A provided a 5.40% dividend yield over the last twelve months, with an annual payout of $0.78 per share.

The table displays the monthly dividend distributions for Nuveen High Yield Municipal Bond Fund Class A. 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 High Yield Municipal Bond Fund Class A. 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 High Yield Municipal Bond Fund Class A was 45.60%, occurring on Dec 17, 2008. Recovery took 848 trading sessions.

The chart below shows the rolling one-month volatility.