Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.0%
1 yr return
1.0%
3 Yr Avg Return
-2.8%
5 Yr Avg Return
-0.4%
Net Assets
$228 M
Holdings in Top 10
26.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.64%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 4.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$3,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FAFNX - Profile
Distributions
- YTD Total Return -1.0%
- 3 Yr Annualized Total Return -2.8%
- 5 Yr Annualized Total Return -0.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.39%
- Dividend Yield 2.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameNuveen Michigan Municipal Bond Fund
-
Fund Family NameNuveen Funds
-
Inception DateFeb 10, 2014
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDaniel Close
Fund Description
FAFNX - Performance
Return Ranking - Trailing
Period | FAFNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.0% | -4.7% | 10.3% | 90.06% |
1 Yr | 1.0% | -5.0% | 32.8% | 92.46% |
3 Yr | -2.8%* | -11.3% | 2.6% | 93.97% |
5 Yr | -0.4%* | -6.3% | 1101.9% | 93.12% |
10 Yr | 1.2%* | -0.5% | 248.2% | 76.65% |
* Annualized
Return Ranking - Calendar
Period | FAFNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.5% | -1.4% | 41.0% | 59.87% |
2022 | -12.6% | -39.7% | 0.3% | 63.79% |
2021 | -0.7% | -5.6% | 6.9% | 56.84% |
2020 | 2.6% | -2.6% | 310.0% | 12.29% |
2019 | 4.2% | 0.0% | 26.0% | 35.03% |
Total Return Ranking - Trailing
Period | FAFNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.0% | -4.7% | 10.3% | 90.06% |
1 Yr | 1.0% | -5.0% | 32.8% | 92.46% |
3 Yr | -2.8%* | -11.3% | 2.6% | 93.97% |
5 Yr | -0.4%* | -6.3% | 1101.9% | 93.12% |
10 Yr | 1.2%* | -0.5% | 248.2% | 76.65% |
* Annualized
Total Return Ranking - Calendar
Period | FAFNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.4% | -1.3% | 41.0% | 76.48% |
2022 | -11.5% | -39.7% | 1.1% | 81.60% |
2021 | 0.5% | -4.8% | 23761504.0% | 76.76% |
2020 | 3.7% | -1.5% | 17057.9% | 53.36% |
2019 | 6.1% | 0.2% | 3514.6% | 61.56% |
NAV & Total Return History
FAFNX - Holdings
Concentration Analysis
FAFNX | Category Low | Category High | FAFNX % Rank | |
---|---|---|---|---|
Net Assets | 228 M | 3.22 M | 71.9 B | 67.43% |
Number of Holdings | 120 | 2 | 13067 | 78.36% |
Net Assets in Top 10 | 60.6 M | -317 M | 3.56 B | 59.39% |
Weighting of Top 10 | 26.66% | 2.0% | 100.2% | 18.47% |
Top 10 Holdings
- Lansing Board of Water and Light, Michigan, Utility System Revenue Bonds, Series 2019A 5.79%
- Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan Program Series 2020B 4.06%
- Oakland University, Michigan, General Revenue Bonds, Series 2016 2.44%
- Michigan Finance Authority, Distributable State Aid Revenue Bonds, Charter County of Wayne, Second Lien Refunding Series 2020 2.44%
- Kent Hospital Finance Authority, Michigan, Revenue Bonds, Mary Free Bed Rehabilitatin Hospital, Series 2021A 2.26%
- Lansing Board of Water and Light, Michigan, Utility System Revenue Bonds, Series 2019A 2.25%
- Grand Rapids Public Schools, Kent County, Michigan, General Obligation Bonds, Refunding School Building Site Series 2016 1.97%
- West Ottawa Public School District, Ottawa County, Michigan, General Obligation Bonds, School Building Site Series 2019 1.90%
- Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Regional Convention Facility Authority Local Project, Series 2014H-1 1.80%
- Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2021I 1.75%
Asset Allocation
Weighting | Return Low | Return High | FAFNX % Rank | |
---|---|---|---|---|
Bonds | 97.20% | 0.00% | 150.86% | 72.21% |
Cash | 2.80% | -50.86% | 46.80% | 23.20% |
Stocks | 0.00% | 0.00% | 99.81% | 66.36% |
Preferred Stocks | 0.00% | 0.00% | 0.10% | 61.66% |
Other | 0.00% | -3.18% | 23.38% | 61.92% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 61.64% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FAFNX % Rank | |
---|---|---|---|---|
Municipal | 98.76% | 44.39% | 100.00% | 43.57% |
Derivative | 0.00% | -3.18% | 23.38% | 59.78% |
Cash & Equivalents | 0.00% | 0.00% | 46.24% | 83.37% |
Securitized | 0.00% | 0.00% | 5.93% | 61.38% |
Corporate | 0.00% | 0.00% | 9.41% | 67.91% |
Government | 0.00% | 0.00% | 52.02% | 65.17% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FAFNX % Rank | |
---|---|---|---|---|
US | 97.20% | 0.00% | 142.23% | 68.62% |
Non US | 0.00% | 0.00% | 23.89% | 66.02% |
FAFNX - Expenses
Operational Fees
FAFNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.64% | 0.01% | 20.65% | 7.55% |
Management Fee | 0.50% | 0.00% | 1.20% | 84.29% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 92.74% |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
FAFNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | 1.00% | 0.25% | 5.00% | 62.46% |
Trading Fees
FAFNX 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.
FAFNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 4.00% | 0.00% | 283.00% | 2.90% |
FAFNX - Distributions
Dividend Yield Analysis
FAFNX | Category Low | Category High | FAFNX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.11% | 0.00% | 14.54% | 87.08% |
Dividend Distribution Analysis
FAFNX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FAFNX | Category Low | Category High | FAFNX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.39% | -0.53% | 5.33% | 75.94% |
Capital Gain Distribution Analysis
FAFNX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
May 01, 2024 | $0.019 | OrdinaryDividend |
Apr 01, 2024 | $0.019 | OrdinaryDividend |
Mar 01, 2024 | $0.019 | DailyAccrualFund |
Feb 01, 2024 | $0.019 | DailyAccrualFund |
Dec 29, 2023 | $0.019 | DailyAccrualFund |
Dec 01, 2023 | $0.019 | DailyAccrualFund |
Nov 01, 2023 | $0.017 | DailyAccrualFund |
Oct 02, 2023 | $0.017 | DailyAccrualFund |
Sep 01, 2023 | $0.017 | DailyAccrualFund |
Aug 01, 2023 | $0.017 | DailyAccrualFund |
Jul 03, 2023 | $0.017 | DailyAccrualFund |
Jun 01, 2023 | $0.017 | DailyAccrualFund |
May 01, 2023 | $0.015 | DailyAccrualFund |
Apr 03, 2023 | $0.015 | DailyAccrualFund |
Mar 01, 2023 | $0.015 | DailyAccrualFund |
Feb 01, 2023 | $0.013 | DailyAccrualFund |
Dec 30, 2022 | $0.013 | DailyAccrualFund |
Dec 01, 2022 | $0.013 | DailyAccrualFund |
Nov 01, 2022 | $0.011 | DailyAccrualFund |
Oct 03, 2022 | $0.011 | DailyAccrualFund |
Sep 01, 2022 | $0.011 | DailyAccrualFund |
Aug 01, 2022 | $0.011 | DailyAccrualFund |
Jul 01, 2022 | $0.011 | DailyAccrualFund |
Jun 01, 2022 | $0.011 | DailyAccrualFund |
May 02, 2022 | $0.010 | DailyAccrualFund |
Apr 01, 2022 | $0.010 | DailyAccrualFund |
Mar 01, 2022 | $0.010 | DailyAccrualFund |
Feb 01, 2022 | $0.010 | DailyAccrualFund |
Dec 31, 2021 | $0.010 | DailyAccrualFund |
Dec 01, 2021 | $0.010 | DailyAccrualFund |
Nov 01, 2021 | $0.010 | DailyAccrualFund |
Oct 01, 2021 | $0.010 | DailyAccrualFund |
Aug 02, 2021 | $0.012 | DailyAccrualFund |
Jul 01, 2021 | $0.012 | DailyAccrualFund |
Jun 01, 2021 | $0.012 | DailyAccrualFund |
May 03, 2021 | $0.014 | DailyAccrualFund |
Apr 01, 2021 | $0.014 | DailyAccrualFund |
Mar 01, 2021 | $0.014 | DailyAccrualFund |
Feb 01, 2021 | $0.014 | DailyAccrualFund |
Dec 31, 2020 | $0.014 | DailyAccrualFund |
Dec 01, 2020 | $0.014 | DailyAccrualFund |
Nov 02, 2020 | $0.016 | DailyAccrualFund |
Oct 01, 2020 | $0.016 | DailyAccrualFund |
Sep 01, 2020 | $0.016 | DailyAccrualFund |
Aug 03, 2020 | $0.016 | DailyAccrualFund |
Jul 01, 2020 | $0.016 | DailyAccrualFund |
Jun 01, 2020 | $0.016 | DailyAccrualFund |
May 01, 2020 | $0.016 | DailyAccrualFund |
Apr 01, 2020 | $0.016 | DailyAccrualFund |
Mar 02, 2020 | $0.016 | DailyAccrualFund |
Feb 03, 2020 | $0.016 | DailyAccrualFund |
Dec 31, 2019 | $0.016 | DailyAccrualFund |
Dec 02, 2019 | $0.016 | DailyAccrualFund |
Nov 01, 2019 | $0.016 | DailyAccrualFund |
Oct 01, 2019 | $0.016 | DailyAccrualFund |
Sep 03, 2019 | $0.016 | DailyAccrualFund |
Aug 01, 2019 | $0.017 | DailyAccrualFund |
Jul 01, 2019 | $0.017 | DailyAccrualFund |
Jun 03, 2019 | $0.017 | DailyAccrualFund |
May 01, 2019 | $0.017 | DailyAccrualFund |
Apr 01, 2019 | $0.017 | DailyAccrualFund |
Mar 01, 2019 | $0.017 | DailyAccrualFund |
Feb 01, 2019 | $0.017 | DailyAccrualFund |
Dec 31, 2018 | $0.017 | DailyAccrualFund |
Dec 03, 2018 | $0.017 | DailyAccrualFund |
Oct 01, 2018 | $0.017 | DailyAccrualFund |
Sep 04, 2018 | $0.017 | DailyAccrualFund |
Aug 01, 2018 | $0.018 | DailyAccrualFund |
Jul 02, 2018 | $0.018 | DailyAccrualFund |
Jun 01, 2018 | $0.018 | DailyAccrualFund |
May 01, 2018 | $0.018 | DailyAccrualFund |
Apr 02, 2018 | $0.018 | DailyAccrualFund |
Mar 01, 2018 | $0.018 | DailyAccrualFund |
Feb 01, 2018 | $0.018 | DailyAccrualFund |
Dec 29, 2017 | $0.018 | DailyAccrualFund |
Dec 01, 2017 | $0.018 | DailyAccrualFund |
Nov 01, 2017 | $0.020 | DailyAccrualFund |
Oct 02, 2017 | $0.020 | DailyAccrualFund |
Sep 01, 2017 | $0.020 | DailyAccrualFund |
Aug 01, 2017 | $0.021 | DailyAccrualFund |
Jul 03, 2017 | $0.021 | DailyAccrualFund |
Jun 01, 2017 | $0.021 | DailyAccrualFund |
May 01, 2017 | $0.022 | DailyAccrualFund |
Apr 03, 2017 | $0.022 | DailyAccrualFund |
Mar 01, 2017 | $0.022 | DailyAccrualFund |
Feb 01, 2017 | $0.022 | DailyAccrualFund |
Dec 30, 2016 | $0.022 | DailyAccrualFund |
Dec 01, 2016 | $0.022 | DailyAccrualFund |
Nov 01, 2016 | $0.023 | DailyAccrualFund |
Oct 03, 2016 | $0.023 | DailyAccrualFund |
Sep 01, 2016 | $0.023 | DailyAccrualFund |
Aug 01, 2016 | $0.025 | DailyAccrualFund |
Jul 01, 2016 | $0.025 | DailyAccrualFund |
Jun 01, 2016 | $0.025 | DailyAccrualFund |
May 02, 2016 | $0.025 | DailyAccrualFund |
Apr 01, 2016 | $0.025 | DailyAccrualFund |
Mar 01, 2016 | $0.025 | DailyAccrualFund |
Feb 01, 2016 | $0.025 | DailyAccrualFund |
Dec 31, 2015 | $0.025 | DailyAccrualFund |
Dec 01, 2015 | $0.025 | DailyAccrualFund |
Nov 02, 2015 | $0.027 | DailyAccrualFund |
Oct 01, 2015 | $0.027 | DailyAccrualFund |
Sep 01, 2015 | $0.027 | DailyAccrualFund |
Aug 03, 2015 | $0.027 | DailyAccrualFund |
Jul 01, 2015 | $0.027 | DailyAccrualFund |
Jun 01, 2015 | $0.027 | DailyAccrualFund |
May 01, 2015 | $0.029 | DailyAccrualFund |
Apr 01, 2015 | $0.029 | DailyAccrualFund |
Mar 02, 2015 | $0.029 | DailyAccrualFund |
Feb 02, 2015 | $0.030 | DailyAccrualFund |
Dec 31, 2014 | $0.030 | DailyAccrualFund |
Dec 01, 2014 | $0.030 | DailyAccrualFund |
Nov 03, 2014 | $0.030 | DailyAccrualFund |
Oct 01, 2014 | $0.030 | DailyAccrualFund |
Sep 02, 2014 | $0.030 | DailyAccrualFund |
Aug 01, 2014 | $0.030 | DailyAccrualFund |
Jul 01, 2014 | $0.030 | DailyAccrualFund |
Jun 02, 2014 | $0.030 | DailyAccrualFund |
May 01, 2014 | $0.030 | DailyAccrualFund |
Apr 01, 2014 | $0.030 | DailyAccrualFund |
Mar 03, 2014 | $0.030 | DailyAccrualFund |
FAFNX - Fund Manager Analysis
Managers
Daniel Close
Start Date
Tenure
Tenure Rank
Mar 01, 2007
15.26
15.3%
Dan is the lead portfolio manager for the firm’s taxable municipal strategies. He manages several state-specific municipal bond strategies, including Georgia, Kentucky, Michigan, North Carolina, Ohio and Tennessee, and related institutional portfolios. Dan also serves as portfolio manager for the inflation-protected strategy and national closed-end funds. Prior to his current position, he served as a research analyst covering the corporate-backed, energy, transportation and utilities sectors. Before joining the firm in 2000, he worked as an analyst at Banc of America Securities specializing in originating and structuring asset-backed securities. Dan received a BS in business from Miami University in Ohio and an MBA at the J.L. Kellogg School of Management at Northwestern University. He also holds the Chartered Financial Analyst® designation and is a member of the CFA® Institute and the CFA Society of Chicago. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |