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Trending ETFs

Nuveen Arizona Municipal Bond Fund

mutual fund
NMARX
Payout Change
No Change
Price as of:
$10.28 -0.02 -0.19%
primary theme
Municipal Bond
NMARX (Mutual Fund)

Nuveen Arizona Municipal Bond Fund

Payout Change
No Change
Price as of:
$10.28 -0.02 -0.19%
primary theme
Municipal Bond
NMARX (Mutual Fund)

Nuveen Arizona Municipal Bond Fund

Payout Change
No Change
Price as of:
$10.28 -0.02 -0.19%
primary theme
Municipal Bond

Name

As of 10/07/2024

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

$10.28

$169 M

3.15%

$0.32

0.63%

Vitals

YTD Return

2.8%

1 yr return

12.1%

3 Yr Avg Return

-0.3%

5 Yr Avg Return

0.9%

Net Assets

$169 M

Holdings in Top 10

16.3%

52 WEEK LOW AND HIGH

$10.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.63%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 4.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/07/2024

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

$10.28

$169 M

3.15%

$0.32

0.63%

NMARX - Profile

Distributions

  • YTD Total Return 2.8%
  • 3 Yr Annualized Total Return -0.3%
  • 5 Yr Annualized Total Return 0.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.44%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Arizona Municipal Bond Fund
  • Fund Family Name
    Nuveen Funds
  • Inception Date
    Feb 03, 1997
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Hamilton

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 Arizona 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 Arizona 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 Arizona 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 Arizona 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 Arizona taxpayers.
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NMARX - Performance

Return Ranking - Trailing

Period NMARX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -1.9% 24.7% 53.22%
1 Yr 12.1% 2.4% 34.3% 30.86%
3 Yr -0.3%* -9.9% 3.4% 59.89%
5 Yr 0.9%* -6.7% 1104.6% 38.74%
10 Yr 2.4%* -0.8% 248.9% 15.05%

* Annualized

Return Ranking - Calendar

Period NMARX Return Category Return Low Category Return High Rank in Category (%)
2023 3.0% -1.4% 41.0% 40.32%
2022 -12.6% -39.7% 0.3% 62.48%
2021 -0.1% -5.6% 6.9% 32.95%
2020 2.4% -2.6% 310.0% 18.19%
2019 4.2% 0.0% 26.0% 34.05%

Total Return Ranking - Trailing

Period NMARX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -1.9% 24.7% 53.22%
1 Yr 12.1% 2.4% 34.3% 30.86%
3 Yr -0.3%* -9.9% 3.4% 59.89%
5 Yr 0.9%* -6.7% 1104.6% 38.74%
10 Yr 2.4%* -0.8% 248.9% 15.05%

* Annualized

Total Return Ranking - Calendar

Period NMARX Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% -1.3% 41.0% 39.59%
2022 -10.4% -39.7% 1.1% 65.25%
2021 2.2% -4.8% 23761504.0% 34.38%
2020 5.6% -1.5% 17057.9% 9.51%
2019 7.5% 0.2% 3514.6% 21.84%

NAV & Total Return History


NMARX - Holdings

Concentration Analysis

NMARX Category Low Category High NMARX % Rank
Net Assets 169 M 3.22 M 71.9 B 75.63%
Number of Holdings 189 4 13418 60.58%
Net Assets in Top 10 25.6 M -317 M 3.45 B 82.28%
Weighting of Top 10 16.26% 1.9% 100.1% 54.71%

Top 10 Holdings

  1. Queen Creek, Arizona, Excise Tax State Shared Revenue Obligation Bonds, Series 2020 2.95%
  2. Arizona Industrial Development Authority, Arizona, Lease Revenue Bonds, University of Indianapolis - Health Pavilion Project, Series 2019A 1.83%
  3. Maricopa County Industrial Development Authority, Arizona, Educational Facilities Revenue Bonds, Creighton University Projects, Series 2020 1.76%
  4. Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2023A 1.69%
  5. Phoenix Civic Improvement Corporation, Arizona, Water System Revenue Bonds, Junior Lien Sustainability Series 2020A 1.48%
  6. Yavapai County Jail District, Arizona, Pleged Revenue Obligation Bonds, Series 2020 1.40%
  7. Maricopa County Union High School District 210 Phoenix, Arizona, General Obligation Bonds, School Improvement Project 2011 and 2017, Series 2018 1.32%
  8. Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Refunding Series 2016A 1.30%
  9. Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2017A 1.28%
  10. Glendale, Arizona, Water and Sewer Revenue Bonds, Senior Lien Series 2022A 1.25%

Asset Allocation

Weighting Return Low Return High NMARX % Rank
Bonds
98.83% 0.00% 150.86% 54.31%
Cash
1.17% -50.86% 43.45% 45.19%
Stocks
0.00% 0.00% 99.89% 84.88%
Preferred Stocks
0.00% 0.00% 0.08% 83.28%
Other
0.00% -3.72% 51.88% 77.64%
Convertible Bonds
0.00% 0.00% 0.93% 83.28%

Bond Sector Breakdown

Weighting Return Low Return High NMARX % Rank
Municipal
100.00% 44.39% 100.00% 7.99%
Derivative
0.00% -3.72% 51.88% 76.44%
Cash & Equivalents
0.00% 0.00% 43.45% 93.03%
Securitized
0.00% 0.00% 5.93% 83.34%
Corporate
0.00% 0.00% 9.41% 84.94%
Government
0.00% 0.00% 52.02% 84.88%

Bond Geographic Breakdown

Weighting Return Low Return High NMARX % Rank
US
98.83% 0.00% 142.23% 52.09%
Non US
0.00% 0.00% 23.89% 85.60%

NMARX - Expenses

Operational Fees

NMARX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.63% 0.01% 8.02% 63.94%
Management Fee 0.51% 0.00% 1.20% 88.73%
12b-1 Fee 0.00% 0.00% 1.00% 14.36%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

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

Trading Fees

NMARX 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.

NMARX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 4.00% 0.00% 283.00% 3.47%

NMARX - Distributions

Dividend Yield Analysis

NMARX Category Low Category High NMARX % Rank
Dividend Yield 3.15% 0.00% 14.51% 37.00%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

NMARX Category Low Category High NMARX % Rank
Net Income Ratio 2.44% -0.53% 5.33% 22.03%

Capital Gain Distribution Analysis

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

Distributions History

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NMARX - Fund Manager Analysis

Managers

Michael Hamilton


Start Date

Tenure

Tenure Rank

Jan 01, 2011

11.42

11.4%

Michael S. Hamilton entered the financial services industry in 1989 when he joined FAF. He became a portfolio manager in 1992 and most recently served as Senior Fixed-Income Portfolio Manager at FAF until joining Nuveen Asset Management. He joined Nuveen Asset Management as Senior Vice President and Portfolio Manager on January 1, 2011 in connection with its acquisition of a portion of FAF’s asset management business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.33 1.58