- ISIN
- US67065Q5586
- CUSIP
- 67065Q558
- Issuer
- Nuveen
- Inception Date
- Jun 30, 2016
- Category
- High Yield Muni
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
NHMFX Performance Chart
Nuveen High Yield Municipal Bond Fund Class R6 (NHMFX) is up 3.5% 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 $1,047.
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Returns By Period
Nuveen High Yield Municipal Bond Fund Class R6 (NHMFX) has returned 3.49% so far this year and 9.86% over the past 12 months.
Nuveen High Yield Municipal Bond Fund Class R6
- 1D
- 0.07%
- 1M
- 2.53%
- YTD
- 3.49%
- 6M
- 4.62%
- 1Y
- 9.86%
- 3Y*
- 4.69%
- 5Y*
- 0.93%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
NHMFX Monthly Returns History
Based on dividend-adjusted daily data since Jul 5, 2016, NHMFX's average daily return is +0.01%, while the average monthly return is +0.31%. At this rate, an investment would double in approximately 18.7 years.
Historically, 67% of months were positive and 33% 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%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.62% | 2.01% | -2.42% | 1.83% | 1.04% | 0.42% | 3.49% | ||||||
| 2025 | 0.45% | 1.53% | -2.06% | -1.74% | -0.86% | 0.63% | -2.08% | 1.09% | 4.64% | 1.45% | 0.20% | 0.12% | 3.21% |
| 2024 | 0.52% | 1.19% | 0.65% | -1.49% | 1.81% | 2.86% | 0.63% | 0.76% | -1.00% | -1.61% | 2.75% | -1.81% | 5.23% |
| 2023 | 4.56% | -3.60% | 2.29% | 0.40% | -0.18% | 0.01% | 0.21% | -2.01% | -4.11% | -3.36% | 10.11% | 3.09% | 6.74% |
| 2022 | -2.80% | -0.94% | -3.56% | -4.65% | 2.49% | -5.95% | 5.65% | -2.34% | -8.32% | -1.39% | 7.74% | -0.79% | -14.90% |
| 2021 | 1.87% | -0.82% | 1.57% | 1.70% | 1.62% | 1.55% | 0.72% | -0.15% | -0.64% | 0.05% | 1.98% | 0.11% | 9.94% |
Benchmark Metrics
Nuveen High Yield Municipal Bond Fund Class R6 has an annualized alpha of 2.73%, 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 38.32% 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.
- Alpha
- 2.73%
- Beta
- 0.06
- R²
- 0.03
- Upside Capture
- 25.69%
- Downside Capture
- 38.32%
Expense Ratio
NHMFX has an expense ratio of 0.69%, placing it in the medium range.
Return for Risk
Risk / Return Rank
NHMFX ranks 67 for risk / return — better than 67% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Nuveen High Yield Municipal Bond Fund Class R6 (NHMFX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NHMFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.37 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 2.78 | 0.00 |
| Martin ratioReturn relative to average drawdown | 8.33 | 12.44 | -4.11 |
Dividends
Dividend History
Nuveen High Yield Municipal Bond Fund Class R6 provided a 6.12% dividend yield over the last twelve months, with an annual payout of $0.88 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.88 | $0.94 | $0.79 | $1.04 | $0.85 | $0.87 | $0.89 | $0.91 | $0.92 | $0.94 | $0.42 |
Dividend yield | 6.12% | 6.59% | 5.35% | 6.99% | 5.68% | 4.71% | 5.05% | 5.03% | 5.46% | 5.37% | 2.52% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.00 | $0.34 | ||||||
| 2025 | $0.07 | $0.07 | $0.13 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.14 | $0.94 |
| 2024 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.79 |
| 2023 | $0.07 | $0.07 | $0.07 | $0.07 | $0.14 | $0.07 | $0.07 | $0.07 | $0.14 | $0.07 | $0.13 | $0.07 | $1.04 |
| 2022 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.00 | $0.14 | $0.00 | $0.14 | $0.07 | $0.07 | $0.85 |
| 2021 | $0.00 | $0.07 | $0.15 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.00 | $0.14 | $0.07 | $0.87 |
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.
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Worst Drawdowns
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.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -22.25%Mar 2020 | 21d | 10mo 15d | 11mo 6dMar 2020 - Feb 2021 |
Bear market2022 | -21.55%Oct 2022 | 9mo 24d | 3y 3mo | 4y 1moJan 2022 - Feb 2026 |
2016 pullback2016 | -8.37%Dec 2016 | 3mo 8d | 7mo 21d | 10mo 29dAug 2016 - Jul 2017 |
2026 pullback2026 | -3.58%Mar 2026 | 25d | 2mo 3d | 2mo 28dMar 2026 - May 2026 |
Rate-hike selloffLate 2018 | -2.41%Nov 2018 | 2mo 16d | 2mo 13d | 4mo 29dSep 2018 - Jan 2019 |
Drawdown Indicators
| NHMFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.25% | -56.78% | +34.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.58% | -9.10% | +5.52% |
Max Drawdown (3Y)Largest decline over 3 years | -10.66% | -18.90% | +8.24% |
Max Drawdown (5Y)Largest decline over 5 years | -21.55% | -25.43% | +3.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -4.84% | -10.71% | +5.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 2.03% | -0.84% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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