Nuveen High Yield Municipal Bond Fund Class I NHMRX

Medalist Rating as of Apr 27, 2026 See Nuveen Investment Hub

NAV / 1-Day Return$13.75 / −0.51%
Fund Size$11.7B
Adjusted Expense Ratio0.560%
Net Expense Ratio1.700%
Fee Level: DistributionBelow Average
Share Class TypeInstitutional
Morningstar CategoryHigh Yield Muni
Fixed-Income Style Box (Funds)—
Minimum Initial Investment$100,000
Investment StatusOpen
TTM Yield5.96%
Average Effective Duration14.47 yrs

NAV and 1-Day Return as of Nov 11, 2026, 1:11:06 AM

Will NHMRX outperform in the future?

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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable NHMRX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the NHMRX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of NHMRX’s parent organization’s priorities and whether they’re in line with investors’ interests.

An aggressive high-yield muni option.

Tom Murphy

Associate Director

Summary

Nuveen High Yield Municipal Bond draws on extensive muni resources, but team changes and a process that takes more risks than nearly all high-yield muni Morningstar Category peers temper the strategy’s appeal.

by Tom Murphy

Rated on Apr 27, 2026 Published on Apr 27, 2026

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Portfolio Holdings NHMRX

More NHMRX Holdings

Current Portfolio DateSep 30, 2026
Equity Holdings—
Bond Holdings—
Other Holdings—
% Assets in Top 10 Holdings9.1

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
Net Receivable For Sale Of Vistra Vision Class B Units	2.94	320M	Cash and Equivalents
PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV 7%	1.66	181M	municipal
Fixed Income Clearing Corp Repo	1.39	152M	Cash and Equivalents
NEW HOPE CULTURAL ED FACS FIN CORP STUDENT HSG REV 5%	1.14	124M	municipal
AURORA HIGHLANDS CMNTY AUTH BRD COLO SPL TAX REV 5.75%	1.12	123M	municipal
PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%	0.87	95M	municipal
NEW YORK LIBERTY DEV CORP LIBERTY REV 7.25%	0.82	90M	municipal
BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%	0.77	84M	municipal
PUERTO RICO ELEC PWR AUTH PWR REV 6.13%	0.70	77M	municipal
PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%	0.70	77M	municipal

Nuveen High Yield Municipal Bond Fund Class I NHMRX

Morningstar’s Analysis NHMRX

Will NHMRX outperform in the future?

Process Pillar

People Pillar

Parent Pillar

An aggressive high-yield muni option.

Summary

Portfolio Holdings NHMRX

Net Receivable For Sale Of Vistra Vision Class B Units

PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV 7%

Fixed Income Clearing Corp Repo

NEW HOPE CULTURAL ED FACS FIN CORP STUDENT HSG REV 5%

AURORA HIGHLANDS CMNTY AUTH BRD COLO SPL TAX REV 5.75%

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

NEW YORK LIBERTY DEV CORP LIBERTY REV 7.25%

BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%

PUERTO RICO ELEC PWR AUTH PWR REV 6.13%

PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%

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