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Name

As of 10/10/2024

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

Nuveen Floating Rate Income Fund

NFRIX | Fund

$18.18

$1.52 B

8.19%

$1.49

0.78%

Vitals

YTD Return

7.3%

1 yr return

11.0%

3 Yr Avg Return

5.7%

5 Yr Avg Return

5.5%

Net Assets

$1.52 B

Holdings in Top 10

17.4%

52 WEEK LOW AND HIGH

$18.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.78%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 52.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/10/2024

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

Nuveen Floating Rate Income Fund

NFRIX | Fund

$18.18

$1.52 B

8.19%

$1.49

0.78%

NFRIX - Profile

Distributions

  • YTD Total Return 7.3%
  • 3 Yr Annualized Total Return 5.7%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.10%
DIVIDENDS
  • Dividend Yield 8.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Floating Rate Income Fund
  • Fund Family Name
    Nuveen Funds
  • Inception Date
    May 02, 2011
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Caraher

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 floating rate securities. Floating rate securities are defined to include floating rate loans, other floating rate debt securities including corporate debt securities and U.S. government securities, money market securities and shares of money market and short-term bond funds. The Fund may invest up to 20% of its net assets in other securities, which would primarily be fixed rate debt securities of any maturity, convertible securities and equity securities received as a result of the restructuring of an issuer’s debt. A substantial portion of the Fund’s assets generally will be invested in securities rated below investment grade or, if unrated, deemed by the Fund’s portfolio managers to be of comparable quality. Below investment-grade securities are commonly referred to as “high yield” securities or “junk” bonds. The Fund invests both in securities issued by U.S. companies and in U.S. dollar-denominated securities issued by non-U.S. companies that are traded over-the-counter or listed on an exchange. Under normal market conditions, the average effective duration of the Fund’s portfolio will not be longer than one year. Effective duration is an estimate of how much the value of a debt security will change with a given change in interest rates.
The Fund may invest in securities that have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) (“restricted securities”), including securities sold in private placement transactions between issuers and their purchasers and securities that meet the requirements of Rule 144A under the Securities Act (“Rule 144A securities”). Rule 144A securities may be resold under certain circumstances only to qualified institutional buyers as defined by the rule.
The Fund may utilize the following derivatives: options; futures contracts; options on futures contracts; swap agreements, including interest rate swaps, total return swaps, and credit default 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, to manage the effective maturity or duration of securities in the Fund’s portfolio, including the use of interest rate derivatives to convert fixed-rate securities to floating rate securities, or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions.
The Fund’s sub-adviser bases its investment process on fundamental, bottom-up credit analysis. Analysts assess sector dynamics, company business models and asset quality. Inherent in the sub-adviser’s credit analysis process is the evaluation of potential upside and downside to any credit. As such, the sub-adviser concentrates its efforts on sectors where there is sufficient transparency to assess the downside risk and where firms have assets to support meaningful recovery in case of default. In its focus on downside protection, the sub-adviser favors opportunities where valuations can be quantified and risks assessed.
Read More

NFRIX - Performance

Return Ranking - Trailing

Period NFRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -3.2% 10.2% 19.85%
1 Yr 11.0% -3.6% 15.3% 8.24%
3 Yr 5.7%* -6.6% 8.2% 28.63%
5 Yr 5.5%* -6.5% 38.1% 11.52%
10 Yr 4.4%* -2.1% 19.6% 10.93%

* Annualized

Return Ranking - Calendar

Period NFRIX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -12.0% 11.1% 82.09%
2022 -6.5% -22.9% 5.1% 31.03%
2021 2.6% -12.2% 11.1% 10.20%
2020 -2.9% -14.1% 289.8% 63.27%
2019 2.0% -8.1% 7.5% 63.87%

Total Return Ranking - Trailing

Period NFRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -3.2% 10.2% 19.85%
1 Yr 11.0% -3.6% 15.3% 8.24%
3 Yr 5.7%* -6.6% 8.2% 28.63%
5 Yr 5.5%* -6.5% 38.1% 11.52%
10 Yr 4.4%* -2.1% 19.6% 10.93%

* Annualized

Total Return Ranking - Calendar

Period NFRIX Return Category Return Low Category Return High Rank in Category (%)
2023 11.3% -12.0% 22.1% 77.24%
2022 -1.6% -22.9% 5.1% 30.27%
2021 7.1% -10.2% 11.1% 10.59%
2020 2.0% -14.1% 306.9% 43.27%
2019 8.4% -3.6% 10.5% 30.67%

NAV & Total Return History

NFRIX - Holdings

Concentration Analysis

NFRIX Category Low Category High NFRIX % Rank
Net Assets 1.52 B 29.9 M 13.5 B 29.39%
Number of Holdings 420 2 1977 36.92%
Net Assets in Top 10 280 M -191 M 2.37 B 25.77%
Weighting of Top 10 17.38% 5.2% 100.7% 30.50%

Top 10 Holdings

  1. BlackRock Liquidity Funds T-Fund 6.06%
  2. Invesco Senior Loan ETF 2.02%
  3. Jazz Financing Lux S.a.r.l., Term Loan B 1.75%
  4. Ultimate Software Group Inc (The), Term Loan B 1.16%
  5. Surgery Center Holdings, Inc., Term Loan 1.13%
  6. Parexel International Corporation, Term Loan, First Lien 1.13%
  7. Medline Borrower, LP, Term Loan B 1.09%
  8. Bausch Lomb, Inc., Term Loan 1.04%
  9. Freeport LNG Investments LLLP 1.02%
  10. GTCR W Merger Sub LLC, Term Loan B 0.97%

Asset Allocation

Weighting Return Low Return High NFRIX % Rank
Bonds 		95.50% 0.00% 161.82% 50.38%
Stocks 		9.41% 0.00% 100.74% 5.38%
Other 		0.22% -52.39% 34.87% 36.92%
Cash 		0.16% -61.90% 16.36% 78.08%
Preferred Stocks 		0.02% -3.99% 7.30% 21.92%
Convertible Bonds 		0.00% 0.00% 5.51% 48.06%

Stock Sector Breakdown

Weighting Return Low Return High NFRIX % Rank
Utilities 		0.00% 0.00% 100.00% 62.67%
Technology 		0.00% 0.00% 100.00% 7.56%
Real Estate 		0.00% 0.00% 48.61% 46.67%
Industrials 		0.00% 0.00% 100.00% 67.11%
Healthcare 		0.00% 0.00% 100.00% 4.44%
Financial Services 		0.00% 0.00% 89.61% 57.78%
Energy 		0.00% 0.00% 100.00% 68.89%
Communication Services 		0.00% 0.00% 100.00% 12.00%
Consumer Defense 		0.00% 0.00% 100.00% 32.89%
Consumer Cyclical 		0.00% 0.00% 97.66% 70.67%
Basic Materials 		0.00% 0.00% 1.36% 15.11%

Stock Geographic Breakdown

Weighting Return Low Return High NFRIX % Rank
US 		9.41% -0.01% 100.74% 5.38%
Non US 		0.00% 0.00% 0.68% 24.23%

Bond Sector Breakdown

Weighting Return Low Return High NFRIX % Rank
Corporate 		83.73% 0.00% 99.80% 83.72%
Derivative 		0.22% -10.96% 0.85% 18.46%
Cash & Equivalents 		0.16% 0.00% 25.03% 78.85%
Securitized 		0.00% 0.00% 91.68% 51.16%
Municipal 		0.00% 0.00% 0.47% 11.63%
Government 		0.00% 0.00% 3.18% 29.07%

Bond Geographic Breakdown

Weighting Return Low Return High NFRIX % Rank
US 		95.50% 0.00% 123.41% 34.23%
Non US 		0.00% 0.00% 63.23% 48.85%

NFRIX - Expenses

Operational Fees

NFRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.78% 0.03% 5.51% 79.03%
Management Fee 0.57% 0.00% 1.89% 25.09%
12b-1 Fee 0.00% 0.00% 1.00% 0.74%
Administrative Fee N/A 0.02% 0.27% N/A

Sales Fees

NFRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

NFRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 9.30%

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.

NFRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 52.00% 4.00% 180.00% 40.41%

NFRIX - Distributions

Dividend Yield Analysis

NFRIX Category Low Category High NFRIX % Rank
Dividend Yield 8.19% 0.00% 11.13% 22.01%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

NFRIX Category Low Category High NFRIX % Rank
Net Income Ratio 4.10% 1.77% 9.82% 21.09%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NFRIX - Fund Manager Analysis

Managers

Scott Caraher

Start Date

Tenure

Tenure Rank

May 02, 2011

11.09

11.1%

Mr. Caraher is a Co-Head of Investments, a member of the Risk Committee and responsible for Symphony’s retail and institutional bank loan-focused portfolios, including credit trading related to bank loans. Mr. Caraher has served more than 15 years at Symphony. Prior to joining the firm in 2002, he was an Investment Banking Analyst in the industrial group at Deutsche Banc Alex Brown in New York.  Mr. Caraher received a BS in finance from Georgetown University.

Kevin Lorenz

Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

Kevin is a portfolio manager for Nuveen’s global fixed income team and heads the leveraged finance sector team, which selects high yield and leveraged loan securities for all portfolios. He is also the lead portfolio manager for the High Yield strategies, co-manager of the Multi-Sector Bond strategy and a member of the Investment Committee, which establishes investment policy for all global fixed income products. Kevin has served in a variety of roles since joining the firm in 1987. He has been investing in high yield over his entire career and has focused exclusively on high yield since 1995. He began his career at the firm as a generalist focusing on the private placement market. Kevin has been quoted in The New York Times, Barron’s, The Wall Street Journal, Reuters and other financial press as well as appearances on CNBC for his seasoned views on the high yield asset class. Kevin graduated with a B.S. in Accounting from Rider University and an M.B.A. in Finance from Indiana University. He holds the CFA designation and is a member of the New York Society of Security Analysts. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.06 3.25

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