- ISIN
- US67061E1047
- CUSIP
- 67061E104
- Issuer
- Nuveen
- Inception Date
- Jan 12, 1993
- Category
- Municipal Bonds
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
NMT Performance Chart
Nuveen Massachusetts Quality Municipal Income Fund (NMT) is up 16.2% since the beginning of the year. NMT is currently trading at $13 per share. Investors who bought $1,000 worth of NMT shares 5 years ago would now be looking at an investment worth $1,095.
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Returns By Period
Nuveen Massachusetts Quality Municipal Income Fund (NMT) has returned 16.24% so far this year and 15.74% over the past 12 months. Over the last ten years, NMT has returned 2.61% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Nuveen Massachusetts Quality Municipal Income Fund
- 1D
- -1.54%
- 1M
- 1.42%
- YTD
- 16.24%
- 6M
- 15.46%
- 1Y
- 15.74%
- 3Y*
- 13.68%
- 5Y*
- 1.83%
- 10Y*
- 2.61%
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%
NMT Monthly Returns History
Based on dividend-adjusted daily data since Oct 27, 1994, NMT's average daily return is +0.03%, while the average monthly return is +0.53%. At this rate, an investment would double in approximately 10.9 years.
Historically, 57% of months were positive and 43% were negative. The best month was Jan 2009 with a return of +21.4%, while the worst month was Oct 2008 at -11.5%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 5 months.
On a daily basis, NMT closed higher 46% of trading days. The best single day was Oct 13, 2008 with a return of +13.4%, while the worst single day was Mar 23, 2020 at -9.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.58% | 2.01% | 4.52% | 3.28% | 1.36% | 0.55% | 16.24% | ||||||
| 2025 | 1.67% | 2.94% | 0.18% | 0.62% | 2.72% | -2.14% | -3.07% | 0.63% | 3.39% | 0.13% | -0.13% | -1.10% | 5.77% |
| 2024 | 1.72% | -0.32% | 3.46% | -3.93% | 1.64% | 5.68% | 1.09% | 2.52% | 3.36% | 1.17% | 1.16% | -2.03% | 16.29% |
| 2023 | 4.98% | -2.94% | -0.50% | -0.79% | -2.04% | 1.71% | 0.63% | -3.19% | -6.08% | -2.37% | 11.41% | 2.84% | 2.58% |
| 2022 | -8.16% | -8.00% | -3.90% | -7.85% | 4.83% | -2.84% | 3.22% | -4.88% | -7.41% | -5.16% | 7.61% | -1.64% | -30.45% |
| 2021 | 2.72% | -4.13% | 0.53% | 3.40% | 1.53% | 1.85% | 0.90% | 0.37% | 1.16% | -0.25% | 0.54% | 3.35% | 12.42% |
Benchmark Metrics
Nuveen Massachusetts Quality Municipal Income Fund has an annualized alpha of 5.98%, beta of 0.09, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since October 27, 1994.
- This fund captured 19.22% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.43%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.09 may look defensive, but with R2 of 0.01 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 0.01 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
- 5.98%
- Beta
- 0.09
- R²
- 0.01
- Upside Capture
- 19.22%
- Downside Capture
- -0.43%
Expense Ratio
NMT has an expense ratio of 0.04%, which is considered low.
Return for Risk
Risk / Return Rank
NMT ranks 41 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Nuveen Massachusetts Quality Municipal Income Fund (NMT) 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.
| NMT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 2.78 | -0.08 |
| Martin ratioReturn relative to average drawdown | 8.72 | 12.44 | -3.72 |
Dividends
Dividend History
Nuveen Massachusetts Quality Municipal Income Fund provided a 6.10% dividend yield over the last twelve months, with an annual payout of $0.78 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.78 | $0.82 | $0.68 | $0.32 | $0.48 | $0.54 | $0.52 | $0.49 | $0.55 | $0.65 | $0.70 | $0.71 |
Dividend yield | 6.10% | 7.27% | 5.94% | 3.06% | 4.50% | 3.43% | 3.60% | 3.46% | 4.66% | 4.57% | 5.30% | 5.15% |
Monthly Dividends
The table displays the monthly dividend distributions for Nuveen Massachusetts Quality Municipal Income Fund. 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 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.38 | ||||||
| 2025 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.06 | $0.06 | $0.06 | $0.06 | $0.82 |
| 2024 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.68 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2022 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.48 |
| 2021 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.54 |
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 Massachusetts 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 Massachusetts Quality Municipal Income Fund was 40.12%, occurring on Oct 10, 2008. Recovery took 237 trading sessions.
The current Nuveen Massachusetts Quality Municipal Income Fund drawdown is 3.43%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -40.12%Oct 2008 | 2y 7mo | 11mo 16d | 3y 6moMar 2006 - Sep 2009 |
2023 bear market2023 | -38.88%Oct 2023 | 1y 11mo | 2y 6mo | 4y 5moNov 2021 - May 2026 |
2013 bear market2013 | -21.48%Dec 2013 | 10mo 22d | 1y 11mo | 2y 10moJan 2013 - Dec 2015 |
Rate-hike selloffLate 2018 | -20.50%Oct 2018 | 2y 2mo | 9mo 25d | 3y 6dJul 2016 - Aug 2019 |
2011 correction2011 | -18.24%Jan 2011 | 2mo 26d | 11mo 21d | 1y 2moOct 2010 - Jan 2012 |
Drawdown Indicators
| NMT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.12% | -56.78% | +16.66% |
Max Drawdown (1Y)Largest decline over 1 year | -5.84% | -9.10% | +3.26% |
Max Drawdown (3Y)Largest decline over 3 years | -13.28% | -18.90% | +5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -38.88% | -25.43% | -13.45% |
Max Drawdown (10Y)Largest decline over 10 years | -38.88% | -33.92% | -4.96% |
Current DrawdownCurrent decline from peak | -3.43% | -1.80% | -1.63% |
Average DrawdownAverage peak-to-trough decline | -8.44% | -10.71% | +2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 2.03% | -0.22% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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