- What does FNMTX invest in?
- The fund's primary objective is to generate a high level of current income, free from federal, New Mexico state, and, in some instances, New Mexico local income taxes, while prioritizing the preservation of capital. Under typical market conditions, at least 80% of its net assets are invested in municipal bonds considered investment-grade. These bonds must possess a rating of BBB/Baa or higher from at least one independent rating agency when purchased, or if unrated, be deemed of equivalent quality by the fund's sub-adviser. The portfolio may also allocate up to 20% of its net assets to municipal bonds that are below investment grade, commonly referred to as "high yield" or "junk" bonds.
- What is the expense ratio of FNMTX?
- Nuveen Flagship New Mexico Muni Bd Fd Cl A (FNMTX) charges an expense ratio of 0.86%. This is the annual fee deducted from fund assets to cover management and operations.
- What is FNMTX's dividend yield?
- FNMTX's trailing-twelve-month yield is 3.13%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of FNMTX?
- Effective duration measures FNMTX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. FNMTX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of FNMTX?
- FNMTX's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.
- What is the yield to maturity of FNMTX?
- Yield to maturity (YTM) is the total return you'd earn from FNMTX if every bond in the portfolio is held to maturity at the current price. FNMTX's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.
