Nuveen New York AMT Free Quality Municipal Income (NRK)

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Nuveen New York AMT Free Quality Municipal Income (NRK) is up 9.3% since the beginning of the year. NRK is currently trading at $11 per share. Investors who bought $1,000 worth of NRK shares 5 years ago would now be looking at an investment worth $1,013.

Nuveen New York AMT Free Quality Municipal Income (NRK) has returned 9.28% so far this year and 17.79% over the past 12 months. Over the last ten years, NRK has returned 2.33% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 16, 2003, NRK's average daily return is +0.02%, while the average monthly return is +0.40%. At this rate, an investment would double in approximately 14.5 years.

Historically, 61% of months were positive and 39% were negative. The best month was Jan 2009 with a return of +19.3%, while the worst month was Sep 2008 at -14.0%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.

On a daily basis, NRK closed higher 49% of trading days. The best single day was Oct 13, 2008 with a return of +13.2%, while the worst single day was Oct 10, 2008 at -12.8%.

Nuveen New York AMT Free Quality Municipal Income has an annualized alpha of 3.37%, beta of 0.15, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since January 16, 2003.

• This fund participated in 31.53% of S&P 500 Index downside but only 29.56% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.15 may look defensive, but with R2 of 0.04 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 0.04 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.

NRK has a high expense ratio of 2.16%, indicating above-average management fees.

NRK ranks 66 for risk / return — better than 66% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Nuveen New York AMT Free Quality Municipal Income provided a 7.78% 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 New York AMT Free Quality Municipal Income. 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 New York AMT Free Quality Municipal Income. 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 New York AMT Free Quality Municipal Income was 40.18%, occurring on Oct 10, 2008. Recovery took 209 trading sessions.

The current Nuveen New York AMT Free Quality Municipal Income drawdown is 1.38%.

The chart below shows the rolling one-month volatility.