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Trending ETFs

Name

As of 04/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.47

$522 M

3.62%

$0.38

0.57%

Vitals

YTD Return

-0.5%

1 yr return

2.1%

3 Yr Avg Return

-0.7%

5 Yr Avg Return

1.2%

Net Assets

$522 M

Holdings in Top 10

19.1%

52 WEEK LOW AND HIGH

$10.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.57%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 5.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.47

$522 M

3.62%

$0.38

0.57%

FMMRX - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.72%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Missouri Municipal Bond Fund
  • Fund Family Name
    Nuveen Funds
  • Inception Date
    Feb 19, 1997
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Drahn

Fund Description

Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal and Missouri personal income tax. These municipal bonds include obligations issued by the State of Missouri and its subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories (such as Puerto Rico, the U.S. Virgin Islands and Guam) or other U.S. states that pay interest that is exempt from regular federal and Missouri personal income tax. The Fund may invest up to 20% of its net assets in municipal bonds that are exempt from regular federal income tax, but not from Missouri personal income tax if, in the judgment of the Fund’s sub-adviser, such purchases are expected to enhance the Fund's after-tax total return potential. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax on individuals, therefore, the Fund may not be suitable for investors subject to the federal alternative minimum tax individuals. For tax years beginning after December 31, 2022, exempt-interest dividends may affect the federal corporate alternative minimum tax for certain corporations. The Fund will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity in excess of 10 years.
Under normal market conditions, the Fund invests at least 80% of its net assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase by at least one independent rating agency or, if unrated, judged by the Fund’s sub-adviser to be of comparable quality. The Fund may invest up to 20% of its net assets in below investment grade municipal bonds, commonly referred to as “high yield” or “junk” bonds.
The Fund may invest in all types of municipal bonds, including general obligation bonds, revenue bonds and participation interests in municipal leases. The Fund may invest in zero coupon bonds, which are issued at substantial discounts from their value at maturity and pay no cash income to their holders until they mature.
The Fund may invest up to 15% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (“inverse floaters”). Inverse floaters are derivative securities that provide leveraged exposure to underlying municipal bonds. The Fund’s investments in inverse floaters are designed to increase the Fund’s income and returns through this leveraged exposure. These investments are speculative, however, and also create the possibility that income and returns will be diminished.
The Fund may utilize the following derivatives: futures contracts, swap contracts, options on futures contracts and options on swap contracts. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, and to manage the effective maturity or duration of securities in the Fund’s portfolio.
The Fund’s sub-adviser uses a value-oriented strategy and looks for higher-yielding and undervalued long-term municipal bonds that offer above-average total return. The sub-adviser may choose to sell municipal bonds with deteriorating credit or limited upside potential compared to other available bonds.
The Fund is primarily designed for investment by Missouri taxpayers.
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FMMRX - Performance

Return Ranking - Trailing

Period FMMRX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -5.0% 13.8% 55.81%
1 Yr 2.1% -8.1% 36.6% 32.51%
3 Yr -0.7%* -11.3% 2.7% 29.15%
5 Yr 1.2%* -6.2% 1102.0% 29.02%
10 Yr 2.4%* -0.3% 248.1% 17.72%

* Annualized

Return Ranking - Calendar

Period FMMRX Return Category Return Low Category Return High Rank in Category (%)
2023 2.9% -1.4% 41.0% 43.98%
2022 -11.4% -39.7% 0.3% 50.23%
2021 -0.3% -5.6% 6.9% 43.23%
2020 1.6% -2.6% 310.0% 57.23%
2019 3.8% 0.0% 26.0% 48.51%

Total Return Ranking - Trailing

Period FMMRX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -5.0% 13.8% 55.81%
1 Yr 2.1% -8.1% 36.6% 32.51%
3 Yr -0.7%* -11.3% 2.7% 29.15%
5 Yr 1.2%* -6.2% 1102.0% 29.02%
10 Yr 2.4%* -0.3% 248.1% 17.72%

* Annualized

Total Return Ranking - Calendar

Period FMMRX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -1.3% 41.0% 29.02%
2022 -8.9% -39.7% 1.1% 46.16%
2021 2.0% -4.8% 23761504.0% 37.74%
2020 3.0% -1.5% 17057.9% 73.31%
2019 7.7% 0.2% 3514.6% 18.16%

NAV & Total Return History


FMMRX - Holdings

Concentration Analysis

FMMRX Category Low Category High FMMRX % Rank
Net Assets 522 M 3.22 M 71.9 B 44.85%
Number of Holdings 246 2 13067 47.13%
Net Assets in Top 10 95.5 M -317 M 3.4 B 44.11%
Weighting of Top 10 19.13% 1.9% 100.4% 44.20%

Top 10 Holdings

  1. Kansas City Industrial Development Authority, Missouri, Airport Special Obligation Bonds, Kansas City International Airport Terminal Modernization Pro 2.87%
  2. Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Series 2021A 2.36%
  3. Metropolitan St. Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Refunding Improvement Series 2017A 2.06%
  4. Missouri Development Finance Board, Solid Waste Disposal Revenue Bonds, Procter and Gamble Inc., Series 1999 1.95%
  5. Missouri Health and Educational Facilities Authority, Revenue Bonds, Saint Louis University, Series 2019A 1.92%
  6. Missouri Health and Education Facilities Authority, Health Facilities Revenue Bonds, Saint Luke's Health System, Inc., Series 2016 1.70%
  7. Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Variable Rate Demand Obligation Series 2017D 1.68%
  8. Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Mosaic Health System, Series 2019A 1.61%
  9. Kansas City Industrial Development Authority, Missouri, Airport Special Obligation Bonds, Kansas City International Airport Terminal Modernization Pro 1.56%
  10. Kansas City Industrial Development Authority, Missouri, Airport Special Obligation Bonds, Kansas City International Airport Terminal Modernization Pro 1.42%

Asset Allocation

Weighting Return Low Return High FMMRX % Rank
Bonds
99.53% 0.00% 150.86% 21.88%
Cash
0.47% -50.86% 50.09% 78.75%
Stocks
0.00% 0.00% 99.81% 97.17%
Preferred Stocks
0.00% 0.00% 0.52% 95.43%
Other
0.00% -8.54% 33.35% 88.60%
Convertible Bonds
0.00% 0.00% 0.93% 95.41%

Bond Sector Breakdown

Weighting Return Low Return High FMMRX % Rank
Municipal
100.00% 44.39% 100.00% 9.24%
Derivative
0.00% -8.54% 23.38% 88.22%
Cash & Equivalents
0.00% 0.00% 48.02% 98.20%
Securitized
0.00% 0.00% 5.93% 95.48%
Corporate
0.00% 0.00% 9.41% 95.99%
Government
0.00% 0.00% 52.02% 95.60%

Bond Geographic Breakdown

Weighting Return Low Return High FMMRX % Rank
US
99.53% 0.00% 142.23% 19.77%
Non US
0.00% 0.00% 23.89% 95.56%

FMMRX - Expenses

Operational Fees

FMMRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.57% 0.01% 20.65% 72.92%
Management Fee 0.50% 0.00% 1.20% 86.81%
12b-1 Fee 0.00% 0.00% 1.00% 17.35%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FMMRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FMMRX 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.

FMMRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.00% 0.00% 283.00% 6.65%

FMMRX - Distributions

Dividend Yield Analysis

FMMRX Category Low Category High FMMRX % Rank
Dividend Yield 3.62% 0.00% 14.54% 14.09%

Dividend Distribution Analysis

FMMRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

FMMRX Category Low Category High FMMRX % Rank
Net Income Ratio 2.72% -0.53% 5.33% 12.06%

Capital Gain Distribution Analysis

FMMRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

FMMRX - Fund Manager Analysis

Managers

Christopher Drahn


Start Date

Tenure

Tenure Rank

Jan 01, 2011

11.42

11.4%

Chris manages tax-exempt fixed income portfolios, including the Short Term Municipal Bond, the Colorado Municipal Bond, the Minnesota Municipal Bond, the Minnesota Intermediate Municipal Bond and the Missouri Municipal Bond products and related institutional portfolios. He also oversees various closed-end funds.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58