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Name

As of 12/24/2024

Price

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

Nuveen Short Duration High Yield Municipal Bond Fund

NVHIX | Fund

$9.64

$4.75 B

5.11%

$0.49

0.87%

Vitals

YTD Return

6.6%

1 yr return

7.0%

3 Yr Avg Return

0.9%

5 Yr Avg Return

2.1%

Net Assets

$4.75 B

Holdings in Top 10

13.1%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.87%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 30.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/24/2024

Price

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

Nuveen Short Duration High Yield Municipal Bond Fund

NVHIX | Fund

$9.64

$4.75 B

5.11%

$0.49

0.87%

NVHIX - Profile

Distributions

  • YTD Total Return 6.6%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.93%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Short Duration High Yield Municipal Bond Fund
  • Fund Family Name
    Nuveen Funds
  • Inception Date
    Feb 01, 2013
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Steven Hlavin

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. Under normal market conditions, the Fund will generally maintain an investment portfolio with a weighted average effective duration of less than 4.5 years.
The Fund invests significantly in lower-quality long-term municipal bonds and 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. These investment strategies should be considered high risk relative to strategies employed by investment grade municipal bond funds. 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 generally 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, although it may invest less than this amount during abnormal market conditions or periods of large cash inflows or outflows. 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 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, to manage the effective maturity or duration of securities in the Fund’s portfolio or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions.
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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NVHIX - Performance

Return Ranking - Trailing

Period NVHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.6% -4.2% 11.1% 6.97%
1 Yr 7.0% -3.8% 11.4% 4.98%
3 Yr 0.9%* -9.3% 2.5% 2.04%
5 Yr 2.1%* -5.3% 3.4% 5.13%
10 Yr 3.3%* -0.8% 155.1% 20.47%

* Annualized

Return Ranking - Calendar

Period NVHIX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.9% -6.2% 7.5% 97.03%
2022 -10.2% -26.9% -3.5% 5.03%
2021 4.7% -1.9% 5.6% 6.60%
2020 -4.0% -4.0% 4.2% 98.98%
2019 3.9% -0.7% 9.1% 87.37%

Total Return Ranking - Trailing

Period NVHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.6% -4.2% 11.1% 6.97%
1 Yr 7.0% -3.8% 11.4% 4.98%
3 Yr 0.9%* -9.3% 2.5% 2.04%
5 Yr 2.1%* -5.3% 3.4% 5.13%
10 Yr 3.3%* -0.8% 155.1% 20.47%

* Annualized

Total Return Ranking - Calendar

Period NVHIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.5% -4.1% 10.9% 91.58%
2022 -7.1% -26.9% 4.3% 5.03%
2021 8.5% -1.9% 10.0% 4.57%
2020 0.1% -2.6% 8.2% 91.84%
2019 8.2% -0.7% 1028633.9% 58.42%

NAV & Total Return History

NVHIX - Holdings

Concentration Analysis

NVHIX Category Low Category High NVHIX % Rank
Net Assets 4.75 B 3.1 M 15.6 B 21.50%
Number of Holdings 2370 20 3325 10.55%
Net Assets in Top 10 623 M -102 M 1.96 B 19.10%
Weighting of Top 10 13.07% 4.6% 98.9% 45.73%

Top 10 Holdings

  1. Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2024A 2.72%
  2. Fixed Income Clearing Corp (FICC) 2.03%
  3. Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Seri 1.15%
  4. Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 3, Fixed Rate Series 2022A-1 1.10%
  5. Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Seri 1.10%
  6. Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 7 Series 2022C-2 1.09%
  7. California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green SIFMA Index Rate Series 2022A-1 1.05%
  8. Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022C 1.03%
  9. New Hope Cultural Education Facilities Finance Corporation, Texas, Senior Living Revenue Bonds, Sanctuary LTC LLC Project, Series 2021A-1 0.92%
  10. Central Plains Energy Project, Nebraska, Gas Project Revenue Bonds, Project 5, SOFR Series 2022-2 0.87%

Asset Allocation

Weighting Return Low Return High NVHIX % Rank
Bonds 		95.63% 0.00% 146.69% 81.68%
Cash 		10.04% -0.64% 10.86% 3.52%
Stocks 		0.00% 0.00% 99.72% 31.68%
Preferred Stocks 		0.00% -47.61% 0.00% 23.12%
Convertible Bonds 		0.00% 0.00% 0.00% 17.09%
Other 		-5.67% -5.67% 5.07% 99.50%

Stock Sector Breakdown

Weighting Return Low Return High NVHIX % Rank
Utilities 		0.00% 0.00% 0.00% 28.13%
Technology 		0.00% 0.00% 0.00% 28.13%
Real Estate 		0.00% 0.00% 0.00% 28.13%
Industrials 		0.00% 0.00% 4.78% 65.63%
Healthcare 		0.00% 0.00% 0.00% 28.13%
Financial Services 		0.00% 0.00% 0.00% 28.13%
Energy 		0.00% 0.00% 0.00% 9.38%
Communication Services 		0.00% 0.00% 0.00% 28.13%
Consumer Defense 		0.00% 0.00% 0.00% 28.13%
Consumer Cyclical 		0.00% 0.00% 77.65% 62.50%
Basic Materials 		0.00% 17.58% 100.00% 62.50%

Stock Geographic Breakdown

Weighting Return Low Return High NVHIX % Rank
US 		0.00% 0.00% 99.72% 32.16%
Non US 		0.00% 0.00% 0.00% 17.09%

Bond Sector Breakdown

Weighting Return Low Return High NVHIX % Rank
Municipal 		97.92% 50.68% 100.00% 54.27%
Corporate 		0.47% 0.00% 2.83% 30.65%
Cash & Equivalents 		0.00% 0.00% 10.86% 55.78%
Securitized 		0.00% 0.00% 22.44% 22.61%
Government 		0.00% 0.00% 0.09% 21.61%
Derivative 		-7.70% -7.70% 1.10% 99.50%

Bond Geographic Breakdown

Weighting Return Low Return High NVHIX % Rank
US 		95.63% 0.00% 139.84% 78.89%
Non US 		0.00% 0.00% 13.35% 25.63%

NVHIX - Expenses

Operational Fees

NVHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.22% 3.44% 55.45%
Management Fee 0.50% 0.00% 1.41% 51.98%
12b-1 Fee 0.00% 0.00% 1.00% 2.80%
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

NVHIX 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% 4.00% N/A

Trading Fees

NVHIX 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.

NVHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 2.00% 121.00% 71.66%

NVHIX - Distributions

Dividend Yield Analysis

NVHIX Category Low Category High NVHIX % Rank
Dividend Yield 5.11% 0.00% 5.94% 24.75%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

NVHIX Category Low Category High NVHIX % Rank
Net Income Ratio 3.93% 1.11% 5.44% 13.37%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NVHIX - Fund Manager Analysis

Managers

Steven Hlavin

Start Date

Tenure

Tenure Rank

Feb 01, 2013

9.33

9.3%

Steven M. Hlavin is Managing Director and Portfolio Manager for Nuveen Asset Management. Prior to his current position, Mr. Hlavin worked as a senior analyst responsible for the risk management and performance reporting process for Nuveen Asset Management. Mr. Hlavin joined an affiliate of Nuveen Asset Management in 2003. Mr. Hlavin earned a BA in finance and accounting and an MBA in finance from Miami University. He has been a speaker at the Leveraging Performance Attribution Analysis for Fixed Income Investments Conference series.

Timothy Ryan

Start Date

Tenure

Tenure Rank

Feb 01, 2013

9.33

9.3%

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

Feb 01, 2013

9.33

9.3%

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 7.58 2.52

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