Nuveen Quality Municipal Income Fund

Frequently Asked Questions About NAD

What does NAD invest in?

The Nuveen Quality Municipal Income Fund (NAD) is a U.S.-domiciled, closed-end mutual fund that began operations on January 15, 1999, having previously been known as the Nuveen Dividend Advantage Municipal Fund. Launched by Nuveen Investments, Inc., this fund is jointly overseen by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. Its core objective is to invest in undervalued municipal bonds and similar instruments within the American fixed-income market, aiming to generate income that is exempt from federal income taxes. The fund's portfolio predominantly comprises investment-grade securities, targeting an average maturity of roughly 18 years. Management employs a bottom-up, fundamental analysis approach for constructing its holdings. Its performance is measured against benchmarks set by Standard & Poor's (S&P).

What is the expense ratio of NAD?

Nuveen Quality Municipal Income Fund (NAD) charges an expense ratio of 3.74%. This is the annual fee deducted from fund assets to cover management and operations.

What is NAD's dividend yield?

NAD's trailing-twelve-month yield is 7.34%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of NAD?

Effective duration measures NAD's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. NAD's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of NAD?

NAD'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 NAD?

Yield to maturity (YTM) is the total return you'd earn from NAD if every bond in the portfolio is held to maturity at the current price. NAD'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.