Nuveen Virginia Quality Municipal Income Fund

Frequently Asked Questions About NPV

What does NPV invest in?

The Nuveen Virginia Quality Municipal Income Fund, established by Nuveen Investments, Inc., operates as a closed-end investment vehicle concentrating on fixed-income securities. Its management responsibilities are jointly overseen by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates its capital to the fixed-income markets within Virginia. A key focus is on acquiring municipal securities that hold an investment-grade rating of Baa/BBB or superior. A significant benefit of these holdings is their ability to generate income that is exempt from both federal and Virginia state income taxation. To construct its portfolio, the fund utilizes a rigorous investment strategy that combines fundamental analysis with a bottom-up security selection process. Its performance is measured against two relevant benchmarks: the S&P National Municipal Bond Index and the S&P Virginia Municipal Bond Index. Initially known as the Nuveen Virginia Premium Income Municipal Fund, this fund commenced operations on January 12, 1993, and is domiciled in the United States.

What is the expense ratio of NPV?

Nuveen Virginia Quality Municipal Income Fund (NPV) charges an expense ratio of 3.90%. This is the annual fee deducted from fund assets to cover management and operations.

What is NPV's distribution yield?

NPV's trailing-twelve-month yield is 7.85%, calculated from the sum of distributions over the past year divided by the current price.

How does NPV's covered-call strategy work?

NPV sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

What is the duration of NPV?

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

What is the credit quality of NPV?

NPV'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.