Nuveen Minnesota Quality Municipal Income Fund (NMS)

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Nuveen Minnesota Quality Municipal Income Fund (NMS) is up 5.8% since the beginning of the year. NMS is currently trading at $12 per share. Investors who bought $1,000 worth of NMS shares 5 years ago would now be looking at an investment worth $958.

Nuveen Minnesota Quality Municipal Income Fund (NMS) has returned 5.79% so far this year and 13.07% over the past 12 months. Over the last ten years, NMS has returned 1.67% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Oct 8, 2014, NMS's average daily return is +0.02%, while the average monthly return is +0.32%. At this rate, an investment would double in approximately 18.1 years.

Historically, 58% of months were positive and 42% were negative. The best month was Nov 2023 with a return of +14.3%, while the worst month was Sep 2022 at -17.8%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.

On a daily basis, NMS closed higher 49% of trading days. The best single day was Apr 8, 2022 with a return of +7.8%, while the worst single day was Mar 23, 2020 at -9.3%.

Nuveen Minnesota Quality Municipal Income Fund has an annualized alpha of 2.00%, beta of 0.15, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since October 08, 2014.

• This fund participated in 33.14% of S&P 500 Index downside but only 23.31% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.15 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.

NMS has an expense ratio of 0.03%, which is considered low.

NMS ranks 53 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 Minnesota Quality Municipal Income Fund provided a 6.74% dividend yield over the last twelve months, with an annual payout of $0.81 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Nuveen Minnesota Quality Municipal Income 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 Minnesota Quality Municipal Income 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 Minnesota Quality Municipal Income Fund was 38.76%, occurring on Oct 25, 2023. The portfolio has not yet recovered.

The current Nuveen Minnesota Quality Municipal Income Fund drawdown is 5.06%.

The chart below shows the rolling one-month volatility.