NHMAX: Nuveen High Yield Municipal Bond A

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NHMAX Nuveen High Yield Municipal Bond A

  • Fund
  • NHMAX
  • Price as of: Dec 12, 2019
  • $18.00
    - $0.00 - 0.00%

Profile

NHMAX - Profile

Vitals

  • YTD Return 6.7%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 0.8%
  • Net Assets $22.2 B
  • Holdings in Top 10 10.7%

52 WEEK LOW AND HIGH

$18.00
$16.82
$18.14

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.12%

SALES FEES

  • Front Load 4.20%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 20.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $3,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 6.7%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.20%
DIVIDENDS
  • Dividend Yield 1.6%
  • 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.


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Categories

Performance

NHMAX - Performance

Return Ranking - Trailing

Period NHMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% 0.6% 9.1% 13.27%
1 Yr 7.0% 0.3% 14.1% 22.22%
3 Yr 3.2%* -0.1% 9.9% 32.34%
5 Yr 0.8%* -1.1% 7.9% 50.69%
10 Yr 1.8%* -0.3% 8.2% 33.00%

* Annualized

Return Ranking - Calendar

Period NHMAX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.4% -5.7% 9.2% 86.34%
2017 6.1% -9.7% 8.6% 9.20%
2016 -4.0% -6.1% -0.8% 86.54%
2015 -0.8% -5.6% 2.9% 71.22%
2014 12.4% 2.9% 83.0% 8.33%

Total Return Ranking - Trailing

Period NHMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% 0.6% 9.9% 13.27%
1 Yr 7.0% 0.3% 14.1% 20.71%
3 Yr 3.2%* -0.1% 9.9% 35.93%
5 Yr 0.8%* -1.1% 7.9% 54.86%
10 Yr 1.8%* -0.3% 8.2% 35.00%

* Annualized

Total Return Ranking - Calendar

Period NHMAX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.4% -5.7% 9.2% 87.98%
2017 6.1% -9.7% 8.8% 12.88%
2016 -3.9% -6.1% 1.0% 85.90%
2015 -0.8% -5.6% 5.3% 71.22%
2014 12.5% 2.9% 83.0% 12.12%

NAV & Total Return History


Holdings

NHMAX - Holdings

Concentration Analysis

NHMAX Category Low Category High NHMAX % Rank
Net Assets 22.2 B 15.5 M 22.2 B 0.50%
Number of Holdings 3702 6 3702 0.50%
Net Assets in Top 10 2.34 B -42.3 M 2.34 B 0.50%
Weighting of Top 10 10.67% 4.4% 98.8% 74.26%

Top 10 Holdings

  1. FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV 6.5% 2.29%
  2. PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV 7% 1.63%
  3. CHICAGO ILL BRD ED 7% 1.46%
  4. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0% 0.90%
  5. IOWA FIN AUTH MIDWESTERN DISASTER AREA REV 4.75% 0.87%
  6. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.88% 0.75%
  7. CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5.25% 0.70%
  8. CHICAGO ILL 6% 0.69%
  9. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3% 0.69%
  10. NEW YORK LIBERTY DEV CORP LIBERTY REV 5% 0.69%

Asset Allocation

Weighting Return Low Return High NHMAX % Rank
Bonds
97.51% 87.19% 144.05% 64.36%
Cash
1.14% -5.30% 11.78% 47.52%
Other
0.93% 0.00% 1.82% 7.92%
Stocks
0.42% 0.00% 0.65% 0.99%
Preferred Stocks
0.00% -44.14% 0.41% 32.18%
Convertible Bonds
0.00% 0.00% 0.01% 32.67%

Stock Sector Breakdown

Weighting Return Low Return High NHMAX % Rank
Industrials
0.41% 0.00% 0.65% 3.17%
Utilities
0.00% 0.00% 0.00% 31.75%
Technology
0.00% 0.00% 0.00% 31.75%
Real Estate
0.00% 0.00% 0.00% 31.75%
Healthcare
0.00% 0.00% 0.00% 31.75%
Financial Services
0.00% 0.00% 0.00% 31.75%
Energy
0.00% 0.00% 0.72% 33.33%
Communication Services
0.00% 0.00% 0.00% 31.75%
Consumer Defense
0.00% 0.00% 0.00% 31.75%
Consumer Cyclical
0.00% 0.00% 0.00% 31.75%
Basic Materials
0.00% 0.00% 0.06% 34.92%

Stock Geographic Breakdown

Weighting Return Low Return High NHMAX % Rank
US
0.42% 0.00% 0.65% 0.99%
Non US
0.00% 0.00% 0.00% 31.19%

Bond Sector Breakdown

Weighting Return Low Return High NHMAX % Rank
Municipal
96.65% 88.69% 144.05% 79.70%
Cash & Equivalents
1.14% -5.06% 11.78% 46.53%
Corporate
0.81% -44.14% 4.62% 9.41%
Derivative
0.05% -0.10% 0.05% 0.50%
Securitized
0.00% 0.00% 0.02% 32.67%
Government
0.00% -4.84% 6.64% 27.72%

Bond Geographic Breakdown

Weighting Return Low Return High NHMAX % Rank
US
91.43% 79.66% 138.15% 64.36%
Non US
6.08% 0.00% 14.04% 36.63%

Expenses

NHMAX - Expenses

Operational Fees

NHMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.12% 0.21% 3.71% 31.84%
Management Fee 0.48% 0.00% 1.32% 31.19%
12b-1 Fee 0.20% 0.00% 1.00% 27.50%
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

NHMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.20% 1.00% 4.75% 45.83%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

NHMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 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.

NHMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 6.16% 280.00% 28.71%

Distributions

NHMAX - Distributions

Dividend Yield Analysis

NHMAX Category Low Category High NHMAX % Rank
Dividend Yield 1.63% 0.00% 19796.78% 26.73%

Dividend Distribution Analysis

NHMAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NHMAX Category Low Category High NHMAX % Rank
Net Income Ratio 5.20% 1.46% 6.17% 2.49%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

NHMAX - Fund Manager Analysis

Managers

John V. Miller


Start Date

Tenure

Tenure Rank

Dec 31, 2000

18.93

18.9%

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. Mr. 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 Category High Category Average Category Mode
0.02 27.93 6.95 0.02