Nuveen High Yield Municipal Bond Fund Class R6 (NHMFX)

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Nuveen High Yield Municipal Bond Fund Class R6 (NHMFX) is up 1.9% since the beginning of the year. NHMFX is currently trading at $14 per share. Investors who bought $1,000 worth of NHMFX shares 5 years ago would now be looking at an investment worth $1,019.

Nuveen High Yield Municipal Bond Fund Class R6 (NHMFX) has returned 1.89% so far this year and 9.44% over the past 12 months. Over the last ten years, NHMFX has returned 3.22% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Jul 5, 2016, NHMFX's average daily return is +0.01%, while the average monthly return is +0.30%. At this rate, an investment would double in approximately 19.3 years.

Historically, 66% of months were positive and 34% were negative. The best month was Nov 2023 with a return of +10.1%, while the worst month was Mar 2020 at -13.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, NHMFX closed higher 45% of trading days. The best single day was Mar 25, 2020 with a return of +5.6%, while the worst single day was Mar 19, 2020 at -6.0%.

Nuveen High Yield Municipal Bond Fund Class R6 has an annualized alpha of 2.54%, beta of 0.06, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since July 05, 2016.

• This fund participated in 39.11% of S&P 500 Index downside but only 25.69% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.06 may look defensive, but with R2 of 0.03 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 0.03 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.

NHMFX has an expense ratio of 0.69%, placing it in the medium range.

NHMFX ranks 90 for risk / return — above 90% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.

Nuveen High Yield Municipal Bond Fund Class R6 provided a 5.76% dividend yield over the last twelve months, with an annual payout of $0.82 per share.

The table displays the monthly dividend distributions for Nuveen High Yield Municipal Bond Fund Class R6. 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 R6. 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 R6 was 22.25%, occurring on Mar 23, 2020. Recovery took 217 trading sessions.

The current Nuveen High Yield Municipal Bond Fund Class R6 drawdown is 2.55%.

The chart below shows the rolling one-month volatility.