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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$15.54

$20.2 B

5.41%

$0.84

0.76%

Vitals

YTD Return

4.3%

1 yr return

-13.2%

3 Yr Avg Return

-5.5%

5 Yr Avg Return

-2.1%

Net Assets

$20.2 B

Holdings in Top 10

16.1%

52 WEEK LOW AND HIGH

$15.5
$13.97
$18.02

Expenses

OPERATING FEES

Expense Ratio 0.76%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 18.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$15.54

$20.2 B

5.41%

$0.84

0.76%

NHMRX - Profile

Distributions

  • YTD Total Return 4.3%
  • 3 Yr Annualized Total Return -5.3%
  • 5 Yr Annualized Total Return -2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.37%
DIVIDENDS
  • Dividend Yield 5.4%
  • 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
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Miller

Fund Description

Under normal market conditions, the Fund 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 personal income tax. These municipal bonds include obligations issued by U.S. states and their subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories (such as Puerto Rico, the U.S. Virgin Islands and Guam) that pay interest that is exempt from regular federal personal income tax. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax. The Fund is a long-term bond fund and, as such, will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity of greater than 10 years.
The Fund invests significantly in lower-quality long-term municipal bonds and may employ effective leverage through investments in inverse floaters. These investment strategies should be considered high risk relative to strategies employed by investment grade municipal bond funds.
Under normal market conditions, the Fund invests at least 65% of its net assets in low- to medium-quality bonds rated BBB/Baa or lower at the time of purchase by at least one independent rating agency or, if unrated, judged by the Fund’s sub-adviser to be of comparable quality. Below investment grade municipal bonds (those rated BB/Ba or lower) are commonly referred to as “high yield” or “junk” bonds. The Fund may invest up to 10% of its net assets in defaulted municipal bonds (i.e., bonds on which the issuer has not paid principal or interest on time).
The Fund may invest in all types of municipal bonds, including general obligation bonds, revenue bonds and participation interests in municipal leases. The Fund may invest in zero coupon bonds, which are issued at substantial discounts from their value at maturity and pay no cash income to their holders until they mature.
The Fund may invest up to 15% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (“inverse floaters”). Inverse floaters are derivative securities that provide leveraged exposure to underlying municipal bonds. The Fund’s investments in inverse floaters are designed to increase the Fund’s income and returns through this leveraged exposure. These investments are speculative, however, and also create the possibility that income and returns will be diminished. The Fund may invest in inverse floaters that create effective leverage of up to 30% of the Fund’s total investment exposure. The Fund will only invest in inverse floating rate securities whose underlying bonds are rated A or higher.
The Fund may utilize the following derivatives: futures contracts; options on futures contracts; swap agreements, including interest rate swaps, total return swaps and credit default swaps, and options on swap agreements. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, and to manage the effective maturity or duration of securities in the Fund’s portfolio.
The Fund’s sub-adviser uses a research-intensive investment process to identify high-yielding municipal bonds that offer attractive value in terms of their current yields, prices, credit quality, liquidity and future prospects. The sub-adviser may choose to sell municipal bonds with deteriorating credit or limited upside potential compared to other available bonds.
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NHMRX - Performance

Return Ranking - Trailing

Period NHMRX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -15.2% 7.4% 22.57%
1 Yr -13.2% -18.2% 1.6% 75.45%
3 Yr -5.5%* -9.3% 2.3% 82.95%
5 Yr -2.1%* -5.3% 2.6% 64.43%
10 Yr -1.1%* -3.4% 4.3% 42.40%

* Annualized

Return Ranking - Calendar

Period NHMRX Return Category Return Low Category Return High Rank in Category (%)
2022 -19.4% -26.9% 2.6% 77.48%
2021 2.4% -1.0% 3.7% 5.02%
2020 -0.7% -3.5% 5.7% 90.32%
2019 1.6% -4.1% 3.4% 19.91%
2018 -0.7% -1.2% 2.6% 79.17%

Total Return Ranking - Trailing

Period NHMRX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -16.1% 7.4% 25.66%
1 Yr -13.2% -18.2% 1.6% 75.89%
3 Yr -5.3%* -9.3% 2.3% 77.42%
5 Yr -2.1%* -4.9% 2.6% 65.46%
10 Yr -1.1%* -3.4% 4.3% 47.20%

* Annualized

Total Return Ranking - Calendar

Period NHMRX Return Category Return Low Category Return High Rank in Category (%)
2022 -19.4% -26.9% 2.6% 77.93%
2021 2.4% -1.0% 3.7% 5.02%
2020 -0.7% -3.5% 5.7% 90.32%
2019 1.6% -4.1% 3.4% 20.85%
2018 -0.7% -1.2% 2.6% 81.77%

NAV & Total Return History


NHMRX - Holdings

Concentration Analysis

NHMRX Category Low Category High NHMRX % Rank
Net Assets 20.2 B 9.79 K 20.2 B 1.79%
Number of Holdings 3950 1 3950 1.79%
Net Assets in Top 10 3.41 B -102 M 3.41 B 1.79%
Weighting of Top 10 16.05% 1.1% 97.0% 31.53%

Top 10 Holdings

  1. Energy HBR Corp 5.54%
  2. PUERTO RICO COMWLTH 8% 2.41%
  3. FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV 6.5% 2.15%
  4. PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV 7% 1.50%
  5. CHICAGO ILL BRD ED 7% 1.36%
  6. PUERTO RICO COMWLTH 8% 1.36%
  7. PUERTO RICO SALES TAX FING CORP SALES TAX REV 0% 1.13%
  8. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0% 1.11%
  9. FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV 7.38% 1.04%
  10. PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5% 0.89%

Asset Allocation

Weighting Return Low Return High NHMRX % Rank
Bonds
91.78% 0.00% 146.69% 89.38%
Stocks
5.80% 0.00% 5.80% 1.77%
Cash
2.43% -3.16% 100.00% 35.43%
Preferred Stocks
0.00% -47.61% 0.32% 70.40%
Other
0.00% 0.00% 0.18% 72.20%
Convertible Bonds
0.00% 0.00% 0.00% 70.85%

Stock Sector Breakdown

Weighting Return Low Return High NHMRX % Rank
Utilities
0.00% 0.00% 0.00% 75.00%
Technology
0.00% 0.00% 0.00% 75.00%
Real Estate
0.00% 0.00% 0.00% 75.00%
Industrials
0.00% 0.00% 4.78% 50.00%
Healthcare
0.00% 0.00% 0.00% 75.00%
Financial Services
0.00% 0.00% 0.00% 75.00%
Energy
0.00% 0.00% 0.00% 75.00%
Communication Services
0.00% 0.00% 0.00% 75.00%
Consumer Defense
0.00% 0.00% 0.00% 75.00%
Consumer Cyclical
0.00% 0.00% 77.65% 50.00%
Basic Materials
0.00% 17.58% 100.00% 81.25%

Stock Geographic Breakdown

Weighting Return Low Return High NHMRX % Rank
US
5.80% 0.00% 5.80% 1.79%
Non US
0.00% 0.00% 0.01% 71.75%

Bond Sector Breakdown

Weighting Return Low Return High NHMRX % Rank
Municipal
96.64% 0.00% 100.00% 75.34%
Cash & Equivalents
2.69% 0.00% 100.00% 33.63%
Corporate
0.64% 0.00% 4.15% 21.08%
Derivative
0.02% 0.00% 0.02% 1.79%
Securitized
0.00% 0.00% 22.44% 73.09%
Government
0.00% 0.00% 0.09% 73.99%

Bond Geographic Breakdown

Weighting Return Low Return High NHMRX % Rank
US
83.30% 0.00% 139.84% 87.00%
Non US
8.48% 0.00% 21.09% 33.63%

NHMRX - Expenses

Operational Fees

NHMRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.76% 0.05% 2.63% 52.29%
Management Fee 0.48% 0.00% 1.41% 39.82%
12b-1 Fee 0.00% 0.00% 1.00% 14.41%
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

NHMRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

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

NHMRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 18.00% 2.00% 121.00% 43.75%

NHMRX - Distributions

Dividend Yield Analysis

NHMRX Category Low Category High NHMRX % Rank
Dividend Yield 5.41% 0.00% 12.84% 3.10%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

NHMRX Category Low Category High NHMRX % Rank
Net Income Ratio 5.37% 1.11% 5.70% 1.33%

Capital Gain Distribution Analysis

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

Distributions History

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NHMRX - Fund Manager Analysis

Managers

John Miller


Start Date

Tenure

Tenure Rank

Dec 31, 2000

21.43

21.4%

John leads the municipals fixed income strategic direction and investment perspectives for Nuveen. He also manages several municipal bond strategies and closed-end funds. John is a trusted public voice in discussing key issues and trends within the municipal market. He is a frequent guest on CNBC, Bloomberg Television and Fox Business News. His perspective is often sought out by leading industry media such as The Wall Street Journal, Barron’s, Bloomberg News and Morningstar. Before being named the 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. John 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. John 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. in Finance with honors from the University of Chicago. He holds the Chartered Financial Analyst designation and is a member of the CFA institute and the CFA society of Chicago. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.34 2.52