Nuveen Municipal Income Fund, Inc. (NMI)

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Nuveen Municipal Income Fund, Inc. (NMI) is up 8.3% since the beginning of the year. NMI is currently trading at $11 per share. Investors who bought $1,000 worth of NMI shares 5 years ago would now be looking at an investment worth $1,098.

Nuveen Municipal Income Fund, Inc. (NMI) has returned 8.28% so far this year and 11.45% over the past 12 months. Over the last ten years, NMI has returned 2.05% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Dec 16, 1988, NMI's average daily return is +0.02%, while the average monthly return is +0.47%. At this rate, an investment would double in approximately 12.3 years.

Historically, 59% of months were positive and 41% were negative. The best month was Jan 2014 with a return of +11.5%, while the worst month was Sep 2008 at -13.8%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 5 months.

On a daily basis, NMI closed higher 43% of trading days. The best single day was Mar 30, 2020 with a return of +7.5%, while the worst single day was Mar 18, 2020 at -14.7%.

Nuveen Municipal Income Fund, Inc. has an annualized alpha of 5.22%, beta of 0.11, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since December 16, 1988.

• This fund captured 14.49% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -6.67%) - a profile typical of hedging or uncorrelated assets.
• Beta of 0.11 may look defensive, but with R2 of 0.02 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 0.02 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.

NMI has an expense ratio of 0.72%, placing it in the medium range.

NMI ranks 11 for risk / return — in the bottom 11% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

Nuveen Municipal Income Fund, Inc. provided a 4.33% dividend yield over the last twelve months, with an annual payout of $0.46 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Nuveen Municipal Income Fund, Inc.. 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 Income Fund, Inc.. 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 Income Fund, Inc. was 28.92%, occurring on Oct 24, 2022. Recovery took 679 trading sessions.

The current Nuveen Municipal Income Fund, Inc. drawdown is 5.75%.

The chart below shows the rolling one-month volatility.