- ISIN
- US6706951059
- CUSIP
- 670695100
- Issuer
- Nuveen
- Inception Date
- Feb 25, 2009
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
NUW Performance Chart
Nuveen AMT-Free Municipal Value Fund (NUW) is up 1.8% since the beginning of the year. NUW is currently trading at $14 per share. Investors who bought $1,000 worth of NUW shares 5 years ago would now be looking at an investment worth $1,019.
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Returns By Period
Nuveen AMT-Free Municipal Value Fund (NUW) has returned 1.77% so far this year and 9.08% over the past 12 months. Over the last ten years, NUW has returned 1.26% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Nuveen AMT-Free Municipal Value Fund
- 1D
- -0.14%
- 1M
- 2.64%
- YTD
- 1.77%
- 6M
- 1.48%
- 1Y
- 9.08%
- 3Y*
- 5.63%
- 5Y*
- 0.37%
- 10Y*
- 1.26%
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%
NUW Monthly Returns History
Based on dividend-adjusted daily data since Feb 25, 2009, NUW's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, an investment would double in approximately 15.2 years.
Historically, 58% of months were positive and 42% were negative. The best month was Jan 2019 with a return of +7.6%, while the worst month was Oct 2016 at -9.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, NUW closed higher 50% of trading days. The best single day was Mar 26, 2020 with a return of +5.6%, while the worst single day was Mar 18, 2020 at -11.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.67% | -0.08% | -0.42% | -1.21% | 0.99% | 0.84% | 1.77% | ||||||
| 2025 | 1.69% | 1.96% | -1.37% | 0.07% | -0.59% | 1.17% | 0.06% | 0.87% | 3.79% | 1.75% | -1.20% | 1.40% | 9.90% |
| 2024 | 3.03% | -2.05% | -0.93% | 0.02% | -0.36% | 4.14% | 0.02% | 1.61% | 1.76% | -2.00% | 1.27% | -2.80% | 3.51% |
| 2023 | 5.22% | -3.52% | 0.51% | 0.73% | 0.51% | -0.64% | 1.24% | -1.44% | -1.31% | -5.66% | 5.98% | 2.73% | 3.79% |
| 2022 | -4.84% | -0.64% | -5.14% | -2.17% | -0.35% | -0.84% | 4.10% | -4.71% | -5.68% | 0.75% | 4.40% | -0.59% | -15.19% |
| 2021 | 1.21% | 1.98% | -2.14% | 1.88% | 2.03% | 1.58% | -0.82% | 1.22% | -1.05% | -1.47% | -0.72% | 1.25% | 4.93% |
Benchmark Metrics
Nuveen AMT-Free Municipal Value Fund has an annualized alpha of 2.75%, beta of 0.15, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since February 25, 2009.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (15.31%) than losses (7.02%) - typical of diversified or defensive assets.
- Beta of 0.15 may look defensive, but with R2 of 0.05 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 0.05 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
- 2.75%
- Beta
- 0.15
- R²
- 0.05
- Upside Capture
- 15.31%
- Downside Capture
- 7.02%
Return for Risk
Risk / Return Rank
NUW ranks 24 for risk / return — below 24% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Nuveen AMT-Free Municipal Value Fund (NUW) 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.
| NUW | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.78 | -0.92 |
| Martin ratioReturn relative to average drawdown | 5.81 | 12.44 | -6.63 |
Dividends
Dividend History
Nuveen AMT-Free Municipal Value Fund provided a 4.08% dividend yield over the last twelve months, with an annual payout of $0.58 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.58 | $0.58 | $0.53 | $0.49 | $0.47 | $0.66 | $0.47 | $0.63 | $0.79 | $0.92 | $0.77 | $0.80 |
Dividend yield | 4.08% | 4.07% | 3.89% | 3.58% | 3.44% | 3.98% | 2.85% | 3.87% | 5.34% | 5.33% | 4.72% | 4.45% |
Monthly Dividends
The table displays the monthly dividend distributions for Nuveen AMT-Free Municipal Value 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 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.29 | ||||||
| 2025 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.58 |
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.53 |
| 2023 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
| 2022 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2021 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.23 | $0.66 |
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 AMT-Free Municipal Value 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 AMT-Free Municipal Value Fund was 26.43%, occurring on Mar 18, 2020. Recovery took 324 trading sessions.
The current Nuveen AMT-Free Municipal Value Fund drawdown is 1.73%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -26.43%Mar 2020 | 6mo 29d | 1y 3mo | 1y 10moAug 2019 - Jun 2021 |
2023 bear market2023 | -22.58%Oct 2023 | 2y 1mo | — | 4y 10moAug 2021 - now |
2013 bear market2013 | -21.57%Aug 2013 | 8mo 25d | 1y 4mo | 2y 29dNov 2012 - Dec 2014 |
Rate-hike selloffLate 2018 | -19.59%Oct 2018 | 10mo 1d | 8mo 27d | 1y 6moDec 2017 - Jul 2019 |
2011 correction2011 | -17.71%Jan 2011 | 3mo 8d | 8mo 27d | 1yOct 2010 - Oct 2011 |
Drawdown Indicators
| NUW | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.43% | -56.78% | +30.35% |
Max Drawdown (1Y)Largest decline over 1 year | -4.89% | -9.10% | +4.21% |
Max Drawdown (3Y)Largest decline over 3 years | -10.19% | -18.90% | +8.71% |
Max Drawdown (5Y)Largest decline over 5 years | -22.58% | -25.43% | +2.85% |
Max Drawdown (10Y)Largest decline over 10 years | -26.43% | -33.92% | +7.49% |
Current DrawdownCurrent decline from peak | -1.73% | -1.80% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -8.09% | -10.71% | +2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 2.03% | -0.46% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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