Nuveen Municipal Credit Opportunities Fund (NMCO)

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Nuveen Municipal Credit Opportunities Fund (NMCO) is up 8.8% since the beginning of the year. NMCO is currently trading at $11 per share. Investors who bought $1,000 worth of NMCO shares 5 years ago would now be looking at an investment worth $964.

Nuveen Municipal Credit Opportunities Fund (NMCO) has returned 8.79% so far this year and 11.23% over the past 12 months.

Based on dividend-adjusted daily data since Sep 17, 2019, NMCO's average daily return is +0.01%, while the average monthly return is +0.26%. At this rate, an investment would double in approximately 22.2 years.

Historically, 56% of months were positive and 44% were negative. The best month was Nov 2023 with a return of +15.1%, while the worst month was Sep 2022 at -16.6%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.

On a daily basis, NMCO closed higher 49% of trading days. The best single day was Mar 24, 2020 with a return of +19.5%, while the worst single day was Mar 23, 2020 at -13.8%.

Nuveen Municipal Credit Opportunities Fund has an annualized alpha of -2.68%, beta of 0.36, and R2 of 0.14 versus S&P 500 Index. Calculated based on daily prices since September 17, 2019.

• This fund participated in 100.98% of S&P 500 Index downside but only 54.70% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.36 may look defensive, but with R2 of 0.14 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 0.14 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.

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

NMCO ranks 21 for risk / return — below 21% 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.

Nuveen Municipal Credit Opportunities Fund provided a 7.68% dividend yield over the last twelve months, with an annual payout of $0.82 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Nuveen Municipal Credit Opportunities 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 Municipal Credit Opportunities 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 Municipal Credit Opportunities Fund was 42.03%, occurring on Mar 23, 2020. Recovery took 281 trading sessions.

The current Nuveen Municipal Credit Opportunities Fund drawdown is 9.51%.

The chart below shows the rolling one-month volatility.