Welcome to MutualFunds.com. Please help us personalize your experience.
Thank you for your submission, we hope you enjoy your experience

Select the one that best describes you
Mutualfunds logo

NHMAX Nuveen High Yield Municipal Bond A

  • Fund
  • NHMAX
  • Price as of: Aug 08, 2016
  • $17.90
  • - $0.01
  • - 0.06%
  • Category
  • High Yield Municipal Bonds

NHMAX - Profile

Vitals

  • YTD Return 4.4%
  • 3 Yr Annualized Return 10.9%
  • 5 Yr Annualized Return 10.1%
  • Net Assets $14.4 B
  • Holdings in Top 10 10.6%

52 WEEK LOW AND HIGH

$17.90
$16.91
$18.02

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.83%

SALES FEES

  • Front Load 4.20%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 14.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

N/A

Investment Themes

CATEGORY

High Yield Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return 4.4%
  • 3 Yr Annualized Total Return 9.3%
  • 5 Yr Annualized Total Return 9.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.66%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Nuveen High Yield Municipal Bond Fund
  • Fund Family Name Nuveen
  • Inception Date Jun 07, 1999
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager John V. Miller

Fund Description

The Nuveen High Yield Municipal Bond Fund Class A (NHMAX) is an actively managed municipal bond fund that seeks to provide a high level of tax-exempt income. NHMAX does this by betting on the high-yield segment of the muni bond market. These bonds are often tied to special projects or are from states/towns with less-than-stellar credit. The fund uses intensive credit and economic trend analysis to find bonds that offer high income with low risk.

Given its mandate for high, tax-free (albeit riskier) income, high earners looking to save on taxes could find the fund a great fit in their taxable accounts. The fund is managed by Nuveen.

NHMAX - Performance

Return Ranking - Trailing

Period NHMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.4% 1.0% 6.2% 22.22% 2
1 Yr 11.9% 3.5% 15.4% 14.97% 1
3 Yr 10.9% * 3.6% 11.6% 2.86% 1
5 Yr 10.1% * 3.2% 10.3% 1.63% 1
10 Yr 4.2% * 1.2% 6.2% 66.35% 4

* Annualized


Return Ranking - Calendar

Period NHMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.8% -2.0% 2.9% 46.53% 4
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

Total Return Ranking - Trailing

Period NHMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.4% 1.0% 6.2% 22.22% 2
1 Yr 7.2% -1.4% 15.1% 55.78% 3
3 Yr 9.3% * 2.7% 11.6% 13.57% 1
5 Yr 9.2% * 3.1% 10.3% 4.07% 1
10 Yr 3.7% * 1.2% 6.2% 79.81% 4

* Annualized


Total Return Ranking - Calendar

Period NHMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.8% -2.0% 2.9% 46.53% 4
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

NAV & Total Return History

NHMAX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

NHMAX Category Low Category High NHMAX % Rank Quintile
Net Assets 14.4 B 152 K 14.4 B 0.68% 1
Number of Holdings 2466 54 2466 0.68% 1
Net Assets in Top 10 1.5 B 45.4 K 1.5 B 0.68% 1
Weighting of Top 10 10.6% 7.4% 31.2% 21.09% 4

Top 10 Holdings

  1. Chicago Ill Brd Ed Ult Tax G 7% 1.61%
  2. California Statewide Cmntys De Rev 5.5% 1.23%
  3. Iowa Fin Auth 4.75% 1.21%
  4. New York Liberty Dev Corp Libe Rev 7.25% 1.12%
  5. Golden St Tob Securitization C To 5.125% 1.05%
  6. Golden St Tob Securitization C Tobacco S 0.96%
  7. New York Liberty Dev Corp Libe Rev Bd 5% 0.91%
  8. Iowa Fin Auth 5.25% 0.90%
  9. Golden St Tob Securitization C Tob 5.75% 0.83%
  10. Aaf Hldgs Llc / Aaf Fin 144A 12% 0.81%

Asset Allocation

Weighting Category Low Category High NHMAX % Rank Quintile
Bonds
95.77% 79.28% 101.69% 19.05% 4
Cash
3.60% -1.69% 20.71% 8.84% 2
Stocks
0.61% 0.00% 2.97% 1.36% 1
Other
0.02% -0.32% 3.42% 10.88% 3
Preferred Stocks
0.00% 0.00% 0.00% 0.68% 3
Convertible Bonds
0.00% 0.00% 0.00% 0.68% 3

Stock Sector Breakdown

Weighting Category Low Category High NHMAX % Rank Quintile
Industrials
0.60% 0.00% 2.96% 5.56% 1
Consumer Cyclical
0.01% 0.00% 0.01% 2.78% 1
Financial Services
0.00% 0.00% 0.00% 2.78% 4
Technology
0.00% 0.00% 0.00% 2.78% 4
Healthcare
0.00% 0.00% 0.00% 2.78% 4
Real Estate
0.00% 0.00% 0.00% 2.78% 4
Energy
0.00% 0.00% 0.00% 2.78% 4
Communication Services
0.00% 0.00% 0.00% 2.78% 4
Consumer Defense
0.00% 0.00% 0.00% 2.78% 4
Utilities
0.00% 0.00% 0.00% 2.78% 4
Basic Materials
0.00% 0.00% 0.00% 2.78% 4

Stock Geographic Breakdown

Weighting Category Low Category High NHMAX % Rank Quintile
US
0.61% 0.00% 2.97% 1.36% 1
Non US
0.00% 0.00% 0.00% 0.68% 3

Bond Sector Breakdown

Weighting Category Low Category High NHMAX % Rank Quintile
Municipal
94.17% 78.39% 100.27% 23.81% 5
Cash & Equivalents
3.60% -1.69% 20.71% 9.52% 2
Government
0.82% -4.00% 3.33% 9.52% 2
Corporate
0.80% 0.00% 1.24% 2.72% 1
Securitized
0.00% 0.00% 0.78% 1.36% 3
Derivative
0.00% -0.05% 0.00% 0.68% 3

Bond Geographic Breakdown

Weighting Category Low Category High NHMAX % Rank Quintile
US
95.77% 79.11% 101.69% 19.05% 4
Non US
0.00% -0.14% 0.17% 1.36% 3

NHMAX - Expenses

Operational Fees

NHMAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.83% 0.27% 44.43% 36.73% 2
Management Fee 0.50% 0.00% 0.75% 8.16% 3
12b-1 Fee 0.20% 0.00% 1.00% 15.32% 1
Administrative Fee N/A 0.00% 0.35% N/A N/A

Sales Fees

NHMAX Fees (% of AUM) Category Low Category High NHMAX Rank Quintile
Front Load 4.20% 1.00% 4.75% 10.26% 3
Deferred Load N/A 0.60% 5.50% N/A N/A

Trading Fees

NHMAX Fees (% of AUM) Category Low Category High NHMAX Rank Quintile
Max Redemption Fee N/A 0.75% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NHMAX Fees (% of AUM) Category Low Category High NHMAX Rank Quintile
Turnover 14.00% 4.00% 120.00% 14.97% 2

NHMAX - Distributions

Dividend Yield Analysis

NHMAX Category Low Category High NHMAX % Rank Quintile
Dividend Yield 0.9% 0.16% 0.96% 1.40% 1

Dividend Distribution Analysis

NHMAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

NHMAX Category Low Category High NHMAX % Rank Quintile
Net Income Ratio 5.66% 1.39% 7.33% 4.76% 1

Capital Gain Distribution Analysis

NHMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

NHMAX - Managers

John V. Miller

Manager

Start Date

Dec 31, 2000

Tenure

15.59

Tenure Rank

1.1%

John V. Miller, CFA, is Managing Director and Co-Head of Fixed Income at Nuveen Asset Management. Before being named to co-head of fixed income in 2011, he was chief investment officer for the firm’s municipal bond team starting in 2007. He was named a managing director and head of portfolio management for Nuveen Asset Management in 2006. Mr. Miller became a portfolio manager in 2000 after starting at the firm as a municipal credit analyst in 1996. He began working in the financial industry at a private account management firm in 1993. Miller earned a B.A. in Economics and Political Science from Duke University, an M.A. in Economics from Northwestern University, and an M.B.A. with honors in Finance from the University of Chicago.


Tenure Analysis

Category Low

0.3

Category High

27.6

Category Average

7.52

Category Mode

1.6