- What does NHMAX invest in?
- Typically, the fund allocates a minimum of 80% of its total investment capital – encompassing both its net assets and any funds borrowed for investment – to municipal bonds. These bonds generate interest that is exempt from regular federal personal income tax. A significant portion of this portfolio is directed towards longer-duration municipal bonds of lower credit quality, often referred to as high-yield municipal debt. Furthermore, the fund has the discretion to employ investment leverage, particularly through its holdings in inverse floaters.
- What is the expense ratio of NHMAX?
- Nuveen High Yield Municipal Bond Fund (NHMAX) charges an expense ratio of 2.00%. This is the annual fee deducted from fund assets to cover management and operations.
- What is NHMAX's dividend yield?
- NHMAX's trailing-twelve-month yield is 5.54%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of NHMAX?
- Effective duration measures NHMAX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. NHMAX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of NHMAX?
- NHMAX'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 NHMAX?
- Yield to maturity (YTM) is the total return you'd earn from NHMAX if every bond in the portfolio is held to maturity at the current price. NHMAX'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.
