NBMAX: Nuveen MA Municipal Bond I

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NBMAX Nuveen MA Municipal Bond I


Profile

NBMAX - Profile

Vitals

  • YTD Return -4.5%
  • 3 Yr Annualized Return -0.4%
  • 5 Yr Annualized Return -0.8%
  • Net Assets $566 M
  • Holdings in Top 10 17.1%

52 WEEK LOW AND HIGH

$9.86
$9.38
$10.69

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.60%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 24.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $100,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -4.5%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.08%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Massachusetts Municipal Bond Fund
  • Fund Family Name
    Nuveen
  • Inception Date
    Dec 22, 1986
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Hamilton

Fund Description

The fund normally invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal and Massachusetts personal income tax. These municipal bonds include obligations issued by the Commonwealth of Massachusetts and its subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories.


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Categories

Performance

NBMAX - Performance

Return Ranking - Trailing

Period NBMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.5% -22.0% 197.1% 81.13%
1 Yr -2.0% -20.7% 191.9% 75.94%
3 Yr -0.4%* -7.3% 7.0% 65.32%
5 Yr -0.8%* -6.0% 11.3% 64.47%
10 Yr 0.2%* -5.3% 3.9% 45.00%

* Annualized

Return Ranking - Calendar

Period NBMAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% -4.3% 18.3% 41.17%
2018 -3.0% -11.7% 4.6% 65.22%
2017 2.3% -6.0% 8.3% 16.38%
2016 -2.4% -7.8% 7.7% 71.49%
2015 0.0% -18.3% 3.0% 13.68%

Total Return Ranking - Trailing

Period NBMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.5% -22.0% 197.1% 81.13%
1 Yr -2.0% -20.7% 191.9% 75.94%
3 Yr -0.4%* -7.3% 9.1% 69.70%
5 Yr -0.7%* -6.0% 11.3% 70.49%
10 Yr 0.2%* -5.3% 6.7% 59.23%

* Annualized

Total Return Ranking - Calendar

Period NBMAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% -4.3% 18.3% 41.75%
2018 -3.0% -11.7% 6.5% 72.26%
2017 2.3% -6.0% 10.4% 27.09%
2016 -2.4% -7.8% 10.7% 73.69%
2015 0.0% -12.6% 4.2% 22.12%

NAV & Total Return History


Holdings

NBMAX - Holdings

Concentration Analysis

NBMAX Category Low Category High NBMAX % Rank
Net Assets 566 M 652 K 269 B 53.08%
Number of Holdings 206 1 17723 62.61%
Net Assets in Top 10 96.8 M -216 M 24.5 B 55.30%
Weighting of Top 10 17.11% 2.4% 100.0% 61.38%

Top 10 Holdings

  1. MASSACHUSETTS ST 5.25% 2.56%
  2. MASSACHUSETTS ST 5% 2.30%
  3. MASSACHUSETTS ST WTR RES AUTH 5% 1.84%
  4. MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 5% 1.81%
  5. MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 5.25% 1.57%
  6. MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 5% 1.54%
  7. UNIVERSITY MASS BLDG AUTH PROJ REV 5% 1.47%
  8. MASSACHUSETTS ST PORT AUTH REV 5% 1.37%
  9. MASSACHUSETTS ST DEV FIN AGY REV 5% 1.33%
  10. BOSTON MASS 5% 1.32%

Asset Allocation

Weighting Return Low Return High NBMAX % Rank
Bonds
97.69% 80.16% 159.74% 44.77%
Cash
2.12% -59.74% 19.63% 47.03%
Other
0.20% -4.63% 28.26% 8.17%
Stocks
0.00% -0.38% 24.73% 71.31%
Preferred Stocks
0.00% 0.00% 7.43% 74.18%
Convertible Bonds
0.00% 0.00% 7.24% 82.99%

Bond Sector Breakdown

Weighting Return Low Return High NBMAX % Rank
Municipal
97.88% 0.00% 100.11% 28.55%
Cash & Equivalents
2.12% -29.57% 39.95% 53.33%
Derivative
0.00% -0.83% 31.05% 73.17%
Securitized
0.00% 0.00% 98.30% 85.71%
Corporate
0.00% 0.00% 99.29% 88.57%
Government
0.00% -2.21% 122.41% 87.00%

Bond Geographic Breakdown

Weighting Return Low Return High NBMAX % Rank
US
92.54% 61.81% 156.78% 52.11%
Non US
5.15% -17.15% 26.76% 43.59%

Expenses

NBMAX - Expenses

Operational Fees

NBMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.60% 0.01% 34.57% 68.23%
Management Fee 0.50% 0.00% 1.10% 87.77%
12b-1 Fee 0.00% 0.00% 1.00% 12.19%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

NBMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

NBMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

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.

NBMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.00% 0.00% 489.00% 33.49%

Distributions

NBMAX - Distributions

Dividend Yield Analysis

NBMAX Category Low Category High NBMAX % Rank
Dividend Yield 0.00% 0.00% 3.72% 76.79%

Dividend Distribution Analysis

NBMAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Semi-Annually Monthly Monthly

Net Income Ratio Analysis

NBMAX Category Low Category High NBMAX % Rank
Net Income Ratio 3.08% -0.20% 6.30% 21.45%

Capital Gain Distribution Analysis

NBMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

NBMAX - Fund Manager Analysis

Managers

Michael Hamilton


Start Date

Tenure

Tenure Rank

Jan 01, 2011

9.17

9.2%

Michael S. Hamilton entered the financial services industry in 1989 when he joined FAF. He became a portfolio manager in 1992 and most recently served as Senior Fixed-Income Portfolio Manager at FAF until joining Nuveen Asset Management. He joined Nuveen Asset Management as Senior Vice President and Portfolio Manager on January 1, 2011 in connection with its acquisition of a portion of FAF’s asset management business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.27 7.4 0.16