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Morningstar

Nuveen High Yield Municipal Bond A NHMAX

Morningstar Medalist Rating
Medalist Rating as of | See Nuveen Investment Hub
  • NAV / 1-Day Return 14.92  /  0.69 %
  • Total Assets 17.6 Bil
  • Adj. Expense Ratio
    0.720%
  • Expense Ratio 0.920%
  • Distribution Fee Level Low
  • Share Class Type Front Load
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 3,000
  • Status Open
  • TTM Yield 5.33%
  • Effective Duration 13.17 years

USD | NAV as of May 30, 2023 | 1-Day Return as of May 30, 2023, 11:29 PM GMT+0

Morningstar’s Analysis NHMAX

Will NHMAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable NHMAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the NHMAX 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 NHMAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

New management at the helm.

Associate Analyst Elizabeth Templeton

Elizabeth Templeton

Associate Analyst

Summary

Nuveen High Yield Municipal Bond leverages an expansive analyst team to support its aggressive approach. Yet, the abrupt change in leadership of the group and the management of this strategy, combined with a process that comes with added volatility, give us reason to pause. Its cheapest share classes receive a Morningstar Analyst Rating of Neutral, while its most expensive are rated Negative.

by Elizabeth Templeton
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings NHMAX

More NHMAX Holdings
  • Current Portfolio Date Apr 30, 2023
  • Equity Holdings 3
  • Bond Holdings 3493
  • Other Holdings 22
  • % Assets in Top 10 Holdings 19.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Energy HBR Corp

8.44
1,504,881,175
Utilities

Fixed Income Clearing Corp Repo

3.43
611,619,171
Cash and Equivalents

FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV 6.5%

2.50
445,766,156
municipal

PUBLIC FIN AUTH WIS LTD OBLIG PILOT REV 7%

1.54
274,806,056
municipal

CHICAGO ILL BRD ED 7%

1.51
269,388,331
municipal

FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV 7.38%

1.12
199,640,700
municipal

FLORIDA DEV FIN CORP REV 7.25%

1.03
182,754,346
municipal

GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0%

0.80
142,684,051
municipal

BUCKEYE OHIO TOB SETTLEMENT FING AUTH 0%

0.73
130,081,528
municipal

FLORIDA DEV FIN CORP SURFACE TRANSN FAC REV 6.38%

0.70
125,278,153
municipal