Nuveen High Yield Municipal Bond A (NHMAXÂ -Â MF report) a Zacks Rank #1 (Strong Buy) seeks high current income exempt from regular federal income taxes. Capital appreciation is a secondary objective. The fund invests at least 65% of the fund’s net assets in medium- to low-quality bonds. The fund may invest up to 10% of its net assets in defaulted municipal bonds.
The Nuveen High Yield Municipal Bond A fund, managed by Nuveen, carries an expense ratio of 0.77% and requires a minimal initial investment of $3,000.
NHMAX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 1, 3, 5 year benchmarks; 1 year 8.9%, 3 year 6.4% and 5 year 10%. To see how this fund performed compared in its category and other #1 and #2 Ranked Mutual Funds,please click here.
NHMAX’s performance, as of the last filing, when compared to funds in its category was in the top 2% in 1 year, top 1% over the past 3 years, and in the 1% over the past 5 years.
