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Name

As of 06/02/2026

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

Nuveen Short Term Municipal Bond Fund

NAAEX | Fund

$9.79

$425 M

1.90%

$0.19

1.51%

Vitals

YTD Return

0.5%

1 yr return

2.1%

3 Yr Avg Return

2.3%

5 Yr Avg Return

0.5%

Net Assets

$425 M

Holdings in Top 10

14.1%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.51%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 37.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$3,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/02/2026

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

Nuveen Short Term Municipal Bond Fund

NAAEX | Fund

$9.79

$425 M

1.90%

$0.19

1.51%

NAAEX - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.02%
DIVIDENDS
  • Dividend Yield 1.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Short Term Municipal Bond Fund
  • Fund Family Name
    Nuveen Funds
  • Inception Date
    Feb 10, 2014
  • Shares Outstanding
    N/A
  • Share Class
    C
  • 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 personal income tax. Regular federal personal income tax is different from, and does not include, the federal alternative minimum tax. These municipal bonds include obligations issued by U.S. states and their 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) that pay interest that is exempt from regular federal personal income tax. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax on individuals. The Fund normally may invest up to 20% of its net assets in taxable obligations. The Fund will attempt to maintain the weighted average maturity of its portfolio securities at three years or less under normal market conditions.
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; options on futures contracts; swap agreements, including interest rate swaps, and options on swap agreements. 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 may not use such instruments to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.
The Fund’s sub-adviser uses a value-oriented strategy and looks for higher-yielding and undervalued 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.
Read More

NAAEX - Performance

Return Ranking - Trailing

Period NAAEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -0.8% 14.7% 79.70%
1 Yr 2.1% 1.9% 27.1% 99.93%
3 Yr 2.3%* 1.1% 23.8% 97.41%
5 Yr 0.5%* -3.5% 7.1% 55.66%
10 Yr 0.5%* 0.1% 250.2% 98.43%

* Annualized

Return Ranking - Calendar

Period NAAEX Return Category Return Low Category Return High Rank in Category (%)
2025 0.4% -26.4% 12.1% 43.37%
2024 -0.2% -6.2% 34.9% 13.55%
2023 1.1% -1.4% 41.0% 92.67%
2022 -4.1% -39.7% 0.3% 5.16%
2021 -0.9% -5.6% 55.0% 71.42%

Total Return Ranking - Trailing

Period NAAEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -0.8% 14.7% 79.70%
1 Yr 2.1% 1.9% 27.1% 99.93%
3 Yr 2.3%* 1.1% 23.8% 97.41%
5 Yr 0.5%* -3.5% 7.1% 55.66%
10 Yr 0.5%* 0.1% 250.2% 98.43%

* Annualized

Total Return Ranking - Calendar

Period NAAEX Return Category Return Low Category Return High Rank in Category (%)
2025 2.5% -2.1% 17.0% 86.31%
2024 1.7% -1.8% 34.9% 66.24%
2023 2.3% 2.1% 41.0% 99.93%
2022 -3.9% -39.7% 1.1% 9.01%
2021 -0.8% -4.8% 23761504.0% 99.12%

NAV & Total Return History

NAAEX - Holdings

Concentration Analysis

NAAEX Category Low Category High NAAEX % Rank
Net Assets 425 M 4.18 M 87.7 B 55.99%
Number of Holdings 357 4 15641 38.84%
Net Assets in Top 10 59.5 M -317 M 4.4 B 64.39%
Weighting of Top 10 14.07% 1.2% 130.7% 63.98%

Top 10 Holdings

  1. Colorado Health Facilities Authority, Colorado, Revenue Bonds, Intermountain Healthcare, Series 2022A 2.41%
  2. Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2017 1.44%
  3. Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Series 2019D 1.43%
  4. Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2019B-3 1.36%
  5. Washington Health Care Facilities Authority, Revenue Bonds, CommonSpirit Health, Series 2019B-3 1.30%
  6. Florida Municipal Power Agency, Power Supply Revenue Bonds, All Requirements Project, Series 2025A 1.29%
  7. Washington State, General Obligation Bonds, Various Purpose Refunding Series 2025B 1.26%
  8. Alaska Housing Finance Corporation, General Obligation Bonds, State Capital Project II, Series 2025A 1.23%
  9. Massachusetts Port Authority, Revenue Bonds, Series 2019A 1.19%
  10. Board of Regents of the University of Texas System, Revenue Financing System Bonds, Series 2025A 1.18%

Asset Allocation

Weighting Return Low Return High NAAEX % Rank
Bonds 		99.82% 0.00% 150.86% 20.79%
Cash 		0.18% -50.86% 43.00% 78.61%
Stocks 		0.00% 0.00% 100.20% 77.71%
Preferred Stocks 		0.00% 0.00% 0.07% 74.73%
Other 		0.00% -1.59% 51.23% 76.88%
Convertible Bonds 		0.00% 0.00% 0.93% 74.19%

Bond Sector Breakdown

Weighting Return Low Return High NAAEX % Rank
Municipal 		93.67% 44.39% 100.00% 85.94%
Derivative 		0.00% -0.35% 48.45% 76.09%
Cash & Equivalents 		0.00% 0.00% 43.00% 88.01%
Securitized 		0.00% 0.00% 5.93% 74.26%
Corporate 		0.00% 0.00% 9.41% 78.15%
Government 		0.00% 0.00% 52.02% 75.41%

Bond Geographic Breakdown

Weighting Return Low Return High NAAEX % Rank
US 		99.82% 0.00% 135.36% 18.16%
Non US 		0.00% 0.00% 23.89% 78.10%

NAAEX - Expenses

Operational Fees

NAAEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.51% 0.03% 3.74% 15.25%
Management Fee 0.40% 0.00% 1.20% 43.15%
12b-1 Fee 1.00% 0.00% 1.00% 95.34%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

NAAEX 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% 75.59%

Trading Fees

NAAEX 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.

NAAEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 0.00% 283.00% 85.99%

NAAEX - Distributions

Dividend Yield Analysis

NAAEX Category Low Category High NAAEX % Rank
Dividend Yield 1.90% 0.00% 14.51% 90.82%

Dividend Distribution Analysis

NAAEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NAAEX Category Low Category High NAAEX % Rank
Net Income Ratio -0.02% -0.53% 5.32% 99.57%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NAAEX - Fund Manager Analysis

Managers

Christopher Drahn

Start Date

Tenure

Tenure Rank

Oct 25, 2002

19.61

19.6%

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.

Paul Brennan

Start Date

Tenure

Tenure Rank

Dec 10, 2020

1.47

1.5%

Paul L. Brennan, CFA, is Senior Vice President and Portfolio Manager of Nuveen Asset Management. He began his career in the financial industry in 1991 as a municipal credit analyst for Flagship Financial Inc. (“Flagship”) before becoming a portfolio manager at Flagship in 1994. Mr. Brennan joined Nuveen Asset Management in 1997 when the firm acquired Flagship.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.27 1.58

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