Nuveen Municipal High Income Opportunity Fund (NMZ)

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Nuveen Municipal High Income Opportunity Fund (NMZ) is up 5.3% since the beginning of the year. NMZ is currently trading at $10 per share. Investors who bought $1,000 worth of NMZ shares 5 years ago would now be looking at an investment worth $935.

Nuveen Municipal High Income Opportunity Fund (NMZ) has returned 5.27% so far this year and 9.20% over the past 12 months. Over the last ten years, NMZ has returned 2.30% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Nov 20, 2003, NMZ's average daily return is +0.03%, while the average monthly return is +0.49%. At this rate, an investment would double in approximately 11.8 years.

Historically, 62% of months were positive and 38% were negative. The best month was Jan 2009 with a return of +16.3%, while the worst month was Nov 2008 at -15.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 7 months.

On a daily basis, NMZ closed higher 51% of trading days. The best single day was Oct 13, 2008 with a return of +32.7%, while the worst single day was Mar 12, 2020 at -14.0%.

Nuveen Municipal High Income Opportunity Fund has an annualized alpha of 3.15%, beta of 0.33, and R2 of 0.12 versus S&P 500 Index. Calculated based on daily prices since November 20, 2003.

• This fund participated in 44.49% of S&P 500 Index downside but only 40.87% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.33 may look defensive, but with R2 of 0.12 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 0.12 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.

NMZ has a high expense ratio of 1.50%, indicating above-average management fees.

NMZ ranks 16 for risk / return — in the bottom 16% 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 High Income Opportunity Fund provided a 7.61% dividend yield over the last twelve months, with an annual payout of $0.79 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Nuveen Municipal High Income Opportunity 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 High Income Opportunity 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 High Income Opportunity Fund was 58.53%, occurring on Dec 16, 2008. Recovery took 775 trading sessions.

The current Nuveen Municipal High Income Opportunity Fund drawdown is 10.60%.

The chart below shows the rolling one-month volatility.