Fund
NSCOX
Price as of:
$10.08
+ $0.03
+ 0.30%
Primary Theme
fund company
Name
As of 11/25/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
4.5%
1 yr return
9.3%
3 Yr Avg Return
-1.8%
5 Yr Avg Return
0.9%
Net Assets
$1.09 B
Holdings in Top 10
13.5%
52 WEEK LOW AND HIGH
$10.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.61%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 52.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$3,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/25/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
NSCOX - Profile
Distributions
- YTD Total Return 4.5%
- 3 Yr Annualized Total Return -1.8%
- 5 Yr Annualized Total Return 0.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.79%
- Dividend Yield 3.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameNuveen Strategic Municipal Opportunities Fund
-
Fund Family NameNuveen Funds
-
Inception DateDec 16, 2014
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTimothy Ryan
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. Regular federal personal income tax is different from, and does not include, the federal alternative minimum 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 on individuals. For tax years beginning after December 31, 2022, income received from the Fund’s municipal bonds may affect the federal corporate alternative minimum tax for certain corporations.
The Fund may invest in bonds of any maturity. Under normal market conditions, the Fund expects to maintain a weighted average effective duration of no more than 15 years. Effective duration measures a bond’s expected life on a present value basis, taking into account the bond’s yield, interest payments, final maturity and, in the case of a bond with an embedded option (e.g., the right of the issuer to call the bond prior to maturity, or a sinking fund schedule), the probability that the option will be exercised.
The Fund may invest in municipal bonds of any credit quality, and may invest without limitation in securities rated below investment grade 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 20% of its net assets in taxable debt obligations, including taxable municipal bonds and U.S. Treasury securities.
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 invest in securities of other open-end or closed-end investment companies, including exchange-traded funds (“ETFs”), that invest primarily in the types of securities in which the Fund may invest directly.
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 top-down and bottom-up analysis to identify risks and opportunities presented by macro-economic conditions and technical specifics of the municipal market, and to identify municipal bonds that it believes are attractive. The sub-adviser may tactically adjust credit, duration and sector exposures in an attempt to manage risk or achieve additional return. The sub-adviser may choose to sell municipal bonds with deteriorating credit quality or limited upside potential compared to other available bonds.
NSCOX - Performance
Return Ranking - Trailing
| Period | NSCOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.5% | -2.0% | 12.4% | 81.37% |
| 1 Yr | 9.3% | 0.5% | 18.7% | 77.94% |
| 3 Yr | -1.8%* | -8.4% | 3.0% | 84.00% |
| 5 Yr | 0.9%* | -5.0% | 3.8% | 71.57% |
| 10 Yr | N/A* | -0.4% | 155.6% | N/A |
* Annualized
Return Ranking - Calendar
| Period | NSCOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.0% | -6.2% | 7.5% | 47.55% |
| 2022 | -17.1% | -26.9% | -3.5% | 48.76% |
| 2021 | 0.8% | -1.9% | 5.6% | 80.81% |
| 2020 | 3.7% | -4.0% | 4.2% | 1.52% |
| 2019 | 6.6% | -0.7% | 9.1% | 16.23% |
Total Return Ranking - Trailing
| Period | NSCOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.5% | -2.0% | 12.4% | 81.37% |
| 1 Yr | 9.3% | 0.5% | 18.7% | 77.94% |
| 3 Yr | -1.8%* | -8.4% | 3.0% | 84.00% |
| 5 Yr | 0.9%* | -5.0% | 3.8% | 71.57% |
| 10 Yr | N/A* | -0.4% | 155.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | NSCOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.1% | -4.1% | 10.9% | 66.18% |
| 2022 | -14.7% | -26.9% | 4.3% | 64.68% |
| 2021 | 4.1% | -1.9% | 10.0% | 77.78% |
| 2020 | 5.9% | -2.6% | 8.2% | 12.18% |
| 2019 | 9.2% | -0.7% | 1028633.9% | 37.17% |
NAV & Total Return History
NSCOX - Holdings
Concentration Analysis
| NSCOX | Category Low | Category High | NSCOX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.09 B | 9.79 K | 15.6 B | 48.51% |
| Number of Holdings | 604 | 1 | 3325 | 40.30% |
| Net Assets in Top 10 | 142 M | -102 M | 3.51 B | 50.25% |
| Weighting of Top 10 | 13.51% | 4.6% | 98.8% | 49.50% |
Top 10 Holdings
- Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2023C 3.09%
- Vistra Vision Corporation Private Equity 2.27%
- District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Subordinate Lien Series 2015B 1.16%
- Puerto Rico, GDB Debt Recovery Authority Commonwealth Bonds, Taxable Series 2018 1.14%
- New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2024G-1 1.08%
- Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 4, Series 2022B-1 0.99%
- Michigan Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2016 0.97%
- Jefferson County Board of Education, Alabama, General Obligation Warrants, Public School Tender Option Bond Trust Series 2022-XM1090 0.95%
- Invesco Municipal Opportunity Trust Variable Rate Munifund Term Preferred Shares Series 2015/6VMO. JP MORGAN CHASE PUTTERS / DRIVERS TR VAR STS CTFS 5 0.93%
- California State, General Obligation Bonds, Taxable Various Purpose Series 2018 0.92%
Asset Allocation
| Weighting | Return Low | Return High | NSCOX % Rank | |
|---|---|---|---|---|
| Bonds | 98.40% | 0.00% | 146.69% | 61.27% |
| Stocks | 2.30% | 0.00% | 99.62% | 10.29% |
| Preferred Stocks | 0.00% | -47.61% | 0.00% | 36.82% |
| Other | 0.00% | -5.59% | 5.07% | 48.76% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 31.84% |
| Cash | 0.00% | -0.64% | 100.00% | 80.10% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | NSCOX % 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% | 100.00% |
| 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% | 100.00% |
| Basic Materials | 0.00% | 17.58% | 100.00% | 100.00% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | NSCOX % Rank | |
|---|---|---|---|---|
| US | 2.30% | 0.00% | 99.62% | 10.45% |
| Non US | 0.00% | 0.00% | 0.00% | 31.84% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | NSCOX % Rank | |
|---|---|---|---|---|
| Municipal | 97.65% | 0.00% | 100.00% | 61.19% |
| Corporate | 0.07% | 0.00% | 2.83% | 46.27% |
| Derivative | 0.00% | -7.53% | 2.16% | 41.79% |
| Cash & Equivalents | 0.00% | 0.00% | 100.00% | 60.70% |
| Securitized | 0.00% | 0.00% | 22.44% | 35.82% |
| Government | 0.00% | 0.00% | 0.09% | 35.32% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | NSCOX % Rank | |
|---|---|---|---|---|
| US | 98.40% | 0.00% | 139.84% | 57.21% |
| Non US | 0.00% | 0.00% | 13.35% | 36.82% |
NSCOX - Expenses
Operational Fees
| NSCOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.61% | 0.22% | 3.44% | 24.14% |
| Management Fee | 0.48% | 0.00% | 1.41% | 43.14% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 83.49% |
| Administrative Fee | N/A | 0.02% | 0.35% | N/A |
Sales Fees
| NSCOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 4.50% | N/A |
| Deferred Load | 1.00% | 1.00% | 4.00% | 38.89% |
Trading Fees
| NSCOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 33.33% |
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.
| NSCOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 52.00% | 2.00% | 121.00% | 79.37% |
NSCOX - Distributions
Dividend Yield Analysis
| NSCOX | Category Low | Category High | NSCOX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.34% | 0.00% | 5.94% | 82.35% |
Dividend Distribution Analysis
| NSCOX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| NSCOX | Category Low | Category High | NSCOX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.79% | 1.11% | 5.44% | 96.57% |
Capital Gain Distribution Analysis
| NSCOX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.028 | OrdinaryDividend |
| Oct 31, 2024 | $0.028 | OrdinaryDividend |
| Sep 30, 2024 | $0.028 | OrdinaryDividend |
| Aug 30, 2024 | $0.028 | OrdinaryDividend |
| Jul 31, 2024 | $0.027 | OrdinaryDividend |
| Jun 28, 2024 | $0.027 | OrdinaryDividend |
| May 31, 2024 | $0.027 | OrdinaryDividend |
| Apr 30, 2024 | $0.027 | OrdinaryDividend |
| Mar 29, 2024 | $0.027 | OrdinaryDividend |
| Feb 29, 2024 | $0.027 | OrdinaryDividend |
| Jan 31, 2024 | $0.025 | OrdinaryDividend |
| Dec 28, 2023 | $0.025 | OrdinaryDividend |
| Nov 30, 2023 | $0.025 | OrdinaryDividend |
| Oct 31, 2023 | $0.025 | OrdinaryDividend |
| Sep 29, 2023 | $0.025 | OrdinaryDividend |
| Aug 31, 2023 | $0.025 | OrdinaryDividend |
| Jul 31, 2023 | $0.025 | OrdinaryDividend |
| Jun 30, 2023 | $0.025 | OrdinaryDividend |
| May 31, 2023 | $0.025 | OrdinaryDividend |
| Apr 28, 2023 | $0.023 | OrdinaryDividend |
| Mar 31, 2023 | $0.023 | OrdinaryDividend |
| Feb 28, 2023 | $0.023 | OrdinaryDividend |
| Jan 31, 2023 | $0.019 | OrdinaryDividend |
| Dec 29, 2022 | $0.019 | OrdinaryDividend |
| Dec 06, 2022 | $0.093 | CapitalGainLongTerm |
| Nov 30, 2022 | $0.019 | OrdinaryDividend |
| Oct 31, 2022 | $0.019 | OrdinaryDividend |
| Sep 30, 2022 | $0.019 | OrdinaryDividend |
| Aug 31, 2022 | $0.019 | OrdinaryDividend |
| Jul 29, 2022 | $0.018 | OrdinaryDividend |
| Jun 30, 2022 | $0.016 | OrdinaryDividend |
| May 31, 2022 | $0.016 | OrdinaryDividend |
| Apr 29, 2022 | $0.015 | OrdinaryDividend |
| Mar 31, 2022 | $0.015 | OrdinaryDividend |
| Feb 28, 2022 | $0.015 | OrdinaryDividend |
| Jan 31, 2022 | $0.015 | OrdinaryDividend |
| Dec 30, 2021 | $0.015 | OrdinaryDividend |
| Dec 06, 2021 | $0.080 | CapitalGainShortTerm |
| Dec 06, 2021 | $0.108 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.015 | OrdinaryDividend |
| Oct 30, 2021 | $0.016 | OrdinaryDividend |
| Sep 30, 2021 | $0.016 | OrdinaryDividend |
| Jul 30, 2021 | $0.016 | OrdinaryDividend |
| Jun 30, 2021 | $0.016 | OrdinaryDividend |
| May 28, 2021 | $0.016 | OrdinaryDividend |
| Apr 30, 2021 | $0.016 | OrdinaryDividend |
| Mar 31, 2021 | $0.016 | OrdinaryDividend |
| Feb 26, 2021 | $0.016 | OrdinaryDividend |
| Jan 29, 2021 | $0.016 | OrdinaryDividend |
| Dec 31, 2020 | $0.016 | OrdinaryDividend |
| Dec 07, 2020 | $0.030 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.016 | OrdinaryDividend |
| Oct 30, 2020 | $0.016 | OrdinaryDividend |
| Sep 30, 2020 | $0.016 | OrdinaryDividend |
| Aug 31, 2020 | $0.016 | OrdinaryDividend |
| Jul 31, 2020 | $0.016 | OrdinaryDividend |
| Jun 30, 2020 | $0.016 | OrdinaryDividend |
| May 29, 2020 | $0.016 | OrdinaryDividend |
| Apr 30, 2020 | $0.016 | OrdinaryDividend |
| Mar 31, 2020 | $0.016 | OrdinaryDividend |
| Feb 28, 2020 | $0.016 | OrdinaryDividend |
| Jan 31, 2020 | $0.017 | OrdinaryDividend |
| Dec 31, 2019 | $0.017 | OrdinaryDividend |
| Dec 06, 2019 | $0.050 | CapitalGainShortTerm |
| Dec 06, 2019 | $0.002 | CapitalGainLongTerm |
| Nov 29, 2019 | $0.017 | OrdinaryDividend |
| Oct 31, 2019 | $0.017 | OrdinaryDividend |
| Sep 30, 2019 | $0.017 | OrdinaryDividend |
| Aug 30, 2019 | $0.017 | OrdinaryDividend |
| Jul 31, 2019 | $0.017 | OrdinaryDividend |
| Jun 28, 2019 | $0.017 | DailyAccrualFund |
| Dec 06, 2017 | $0.013 | DailyAccrualFund |
| Dec 06, 2016 | $0.005 | ExtraDividend |
| Dec 06, 2016 | $0.085 | CapitalGainShortTerm |
| Dec 06, 2016 | $0.011 | CapitalGainLongTerm |
NSCOX - Fund Manager Analysis
Managers
Timothy Ryan
Start Date
Tenure
Tenure Rank
Dec 16, 2014
7.46
7.5%
Timothy T. Ryan, CFA, is a Managing Director and Portfolio Manager at Nuveen Asset Management. Mr. Ryan joined an affiliate of Nuveen Asset Management in 2010. Prior to joining Nuveen Asset Management, Mr. Ryan was a principal of SSGA FM and a Vice President of SSGA and responsible for managing the series of the Trust that invest primarily in municipal securities. Prior to joining SSGA, Mr. Ryan was a lead portfolio manager in the municipal bond group at Deutsche Bank Asset Management, formally Scudder Insurance Asset Management. His clients included nuclear decommissioning trusts, insurance portfolios and corporate cash. Mr. Ryan began working at Deutsche Bank in 1991 as a municipal bond analyst covering high yield, transportation, higher education, general obligation, and money market sectors. He joined Deutsche Bank with 8 years of experience as vice president and investment banker at Mesirow Financial and vice president and financial consultant at Speer Financial. Mr. Ryan has a BS from University of Wisconsin and a Master of Management from JL Kellogg Graduate School of Management Northwestern University. Mr. Ryan has earned the Chartered Financial Analyst designation.
John Miller
Start Date
Tenure
Tenure Rank
Dec 16, 2014
7.46
7.5%
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 |
|---|---|---|---|
| 0.25 | 21.43 | 7.55 | 2.52 |