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Trending ETFs

Nuveen Virginia Municipal Bond Fund

mutual fund
FVATX
Payout Change
No Change
Price as of:
$10.49 +0.0 +0.0%
primary theme
Municipal Bond
FVATX (Mutual Fund)

Nuveen Virginia Municipal Bond Fund

Payout Change
No Change
Price as of:
$10.49 +0.0 +0.0%
primary theme
Municipal Bond
FVATX (Mutual Fund)

Nuveen Virginia Municipal Bond Fund

Payout Change
No Change
Price as of:
$10.49 +0.0 +0.0%
primary theme
Municipal Bond

Name

As of 12/04/2024

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

$10.49

$507 M

3.32%

$0.35

0.80%

Vitals

YTD Return

3.7%

1 yr return

6.2%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

1.0%

Net Assets

$507 M

Holdings in Top 10

15.4%

52 WEEK LOW AND HIGH

$10.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.80%

SALES FEES

Front Load 4.20%

Deferred Load N/A

TRADING FEES

Turnover 6.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$3,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/04/2024

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

$10.49

$507 M

3.32%

$0.35

0.80%

FVATX - Profile

Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.18%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Virginia Municipal Bond Fund
  • Fund Family Name
    Nuveen Funds
  • Inception Date
    Mar 27, 1986
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stephen Candido

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 and Virginia 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 the State of Virginia and its 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) or other U.S. states that pay interest that is exempt from regular federal and Virginia personal income tax. The Fund may invest up to 20% of its net assets in municipal bonds that are exempt from regular federal income tax, but not from Virginia personal income tax if, in the judgment of the Fund’s sub-adviser, such purchases are expected to enhance the Fund's after-tax total return potential. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax on individuals, therefore, the Fund may not be suitable for investors subject to the federal alternative minimum tax on individuals. For tax years beginning after December 31, 2022, exempt-interest dividends may affect the federal corporate alternative minimum tax for certain corporations. The Fund will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity in excess of 10 years.
Under normal market conditions, the Fund invests at least 80% of its net assets in investment grade municipal bonds rated BBB/Baa or higher 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. The Fund may invest up to 20% of its net assets in below investment grade municipal bonds, commonly referred to as “high yield” or “junk” bonds.
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 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 utilize the following derivatives: futures contracts, swap contracts, options on futures contracts and options on swap contracts. 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 a value-oriented strategy and looks for higher-yielding and undervalued long-term municipal bonds that offer above-average total return. The sub-adviser may choose to sell municipal bonds with deteriorating credit or limited upside potential compared to other available bonds.
The Fund is primarily designed for investment by Virginia taxpayers.
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FVATX - Performance

Return Ranking - Trailing

Period FVATX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -4.7% 38.6% 35.46%
1 Yr 6.2% -2.4% 46.4% 23.51%
3 Yr -0.5%* -10.3% 6.8% 60.86%
5 Yr 1.0%* -6.5% 1104.9% 50.42%
10 Yr 2.2%* -0.9% 249.0% 26.05%

* Annualized

Return Ranking - Calendar

Period FVATX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -1.4% 41.0% 20.07%
2022 -13.1% -39.7% 0.3% 73.31%
2021 -0.6% -5.6% 6.9% 54.16%
2020 2.4% -2.6% 310.0% 19.89%
2019 4.7% 0.0% 26.0% 20.88%

Total Return Ranking - Trailing

Period FVATX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -4.7% 38.6% 35.46%
1 Yr 6.2% -2.4% 46.4% 23.51%
3 Yr -0.5%* -10.3% 6.8% 60.86%
5 Yr 1.0%* -6.5% 1104.9% 50.42%
10 Yr 2.2%* -0.9% 249.0% 26.05%

* Annualized

Total Return Ranking - Calendar

Period FVATX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -1.3% 41.0% 21.89%
2022 -11.0% -39.7% 1.1% 74.54%
2021 1.3% -4.8% 23761504.0% 57.73%
2020 5.1% -1.5% 17057.9% 13.80%
2019 7.9% 0.2% 3514.6% 16.41%

NAV & Total Return History


FVATX - Holdings

Concentration Analysis

FVATX Category Low Category High FVATX % Rank
Net Assets 507 M 3.22 M 71.9 B 47.18%
Number of Holdings 235 4 13418 49.56%
Net Assets in Top 10 82.3 M -317 M 3.09 B 51.04%
Weighting of Top 10 15.43% 1.8% 100.3% 61.76%

Top 10 Holdings

  1. Hampton Roads Transportation Accountability Commission, Virginia, Hampton Roads Transportation Fund Revenue Bonds, Senior Lien Series 2018A 2.00%
  2. Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 2.00%
  3. The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Refunding Series 2017A 1.83%
  4. Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital improvement Projects, Sec 1.54%
  5. Fairfax County Economic Development Authority, Virginia, Revenue Bonds, Smithsonian Institution, Series 2003A 1.50%
  6. Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017 1.49%
  7. Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1 1.43%
  8. Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Bon Secours Mercy Health, Inc., Series 2020A 1.30%
  9. Virginia Commonwealth University Health System Authority, General Revenue Bonds, Series 2017B 1.24%
  10. Roanoke Economic Development Authority, Virginia, Hospital Revenue Bonds, Carilion Clinic Obligated Group, Series 2020A 1.09%

Asset Allocation

Weighting Return Low Return High FVATX % Rank
Bonds
100.80% 0.00% 150.86% 13.49%
Stocks
0.00% 0.00% 99.78% 22.21%
Preferred Stocks
0.00% 0.00% 0.07% 10.95%
Other
0.00% -3.69% 53.54% 23.64%
Convertible Bonds
0.00% 0.00% 0.93% 10.05%
Cash
0.00% -50.86% 44.62% 83.81%

Bond Sector Breakdown

Weighting Return Low Return High FVATX % Rank
Municipal
100.00% 44.39% 100.00% 1.28%
Derivative
0.00% -3.69% 53.54% 21.09%
Cash & Equivalents
0.00% 0.00% 44.41% 60.51%
Securitized
0.00% 0.00% 5.93% 11.67%
Corporate
0.00% 0.00% 9.41% 27.44%
Government
0.00% 0.00% 52.02% 17.13%

Bond Geographic Breakdown

Weighting Return Low Return High FVATX % Rank
US
100.80% 0.00% 142.23% 13.10%
Non US
0.00% 0.00% 23.89% 14.84%

FVATX - Expenses

Operational Fees

FVATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.01% 8.02% 42.94%
Management Fee 0.49% 0.00% 1.20% 77.45%
12b-1 Fee 0.20% 0.00% 1.00% 26.51%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FVATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.20% 0.50% 4.75% 26.15%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FVATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

FVATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 6.00% 0.00% 283.00% 7.61%

FVATX - Distributions

Dividend Yield Analysis

FVATX Category Low Category High FVATX % Rank
Dividend Yield 3.32% 0.00% 14.51% 24.90%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FVATX Category Low Category High FVATX % Rank
Net Income Ratio 2.18% -0.53% 5.33% 36.30%

Capital Gain Distribution Analysis

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

Distributions History

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FVATX - Fund Manager Analysis

Managers

Stephen Candido


Start Date

Tenure

Tenure Rank

May 31, 2016

6.0

6.0%

Stephen J. Candido, CFA, is Vice President, Portfolio Manager and Senior Research Analyst at Nuveen Asset Management, LLC. Mr. Candido is a portfolio manager and senior research analyst for the Municipal Fixed Income Team, responsible for conducting fundamental credit analysis and contributing to relative value assessments with portfolio managers and traders, primarily for high yield strategies. He specializes in covering land secured credits, including special assessment districts, tax increment financings, and project finance. In addition, he is assigned to the student loan and housing sectors, including student housing. Mr. Candido started working in the financial services industry in 1996 when he joined the firm in the Unit Trust Division. Prior to his current role on the research team, he was an assistant vice president for Nuveen’s Global Structured Products team beginning in 2005. He also served as the manager of the Fixed Income Unit Trust Product Management and Pricing Group starting in 2001 and prior to that held positions as an equity research analyst and fixed income pricing analyst. Mr. Candido earned a B.S. in finance from Miami University in Ohio and an M.B.A. in finance with honors as a member of Beta Gamma Sigma from the University of Illinois-Chicago. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Chicago.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58