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Name

As of 10/04/2024

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 Preferred Securities and Income Fund

NPSFX | Fund

$15.79

$4.83 B

5.85%

$0.92

0.69%

Vitals

YTD Return

9.7%

1 yr return

18.9%

3 Yr Avg Return

1.9%

5 Yr Avg Return

3.8%

Net Assets

$4.83 B

Holdings in Top 10

20.0%

52 WEEK LOW AND HIGH

$15.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.69%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/04/2024

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 Preferred Securities and Income Fund

NPSFX | Fund

$15.79

$4.83 B

5.85%

$0.92

0.69%

NPSFX - Profile

Distributions

  • YTD Total Return 9.7%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.65%
DIVIDENDS
  • Dividend Yield 5.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Nuveen Preferred Securities and Income Fund
  • Fund Family Name
    Nuveen Funds
  • Inception Date
    Jun 30, 2016
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Douglas Baker

Fund Description

Under normal circumstances, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in preferred securities and other income producing securities. The Fund may invest in all types of preferred securities, including both perpetual preferred securities and hybrid securities. Perpetual preferred securities are generally equity securities of the issuer that have priority over the issuer’s common shares as to the payment of dividends (i.e., the issuer cannot pay dividends on its common shares until the dividends on the preferred shares are current) and as to the payout of proceeds of a bankruptcy or other liquidation, but are subordinate to an issuer’s senior debt and junior debt as to both types of payments. Additionally, in a bankruptcy or other liquidation, perpetual preferred securities are generally subordinate to an issuer’s trade creditors and other general obligations. Perpetual preferred securities typically have a fixed liquidation (or “par”) value.
The term “preferred securities” also includes hybrid securities and other types of preferred securities that do not have the features described above. Preferred securities that are hybrid securities often behave similarly to investments in perpetual preferred securities and are regarded by market investors as being part of the preferred securities market. Such hybrid securities possess varying combinations of features of both debt and perpetual preferred securities and as such they may constitute senior debt, junior debt or preferred shares in an issuer’s capital structure.
The term “preferred securities” also includes certain forms of debt that are regarded by the investment marketplace to be part of the broader preferred securities market. Among these preferred securities are certain exchange-listed debt issues that historically have several attributes, including trading and investment performance characteristics, in common with exchange-listed perpetual preferred securities and hybrid securities. Generally, these types of preferred securities are senior debt in the capital structure of an issuer.
The Fund may also invest in income producing securities that are not preferred securities. These include contingent capital securities (sometimes referred to as “CoCos”), which are hybrid securities, issued primarily by non-U.S. financial institutions, that have loss absorption mechanisms benefitting the issuer built into their terms. These loss absorption mechanisms may include automatic conversion into the issuer’s common stock or an automatic write down of the security’s principal amount upon the occurrence of a specified trigger or event. In addition, although the Fund will invest primarily in preferred securities and CoCos, it may invest up to 20% of its net assets, in the aggregate, in corporate debt securities, U.S. government securities (including securities issued or guaranteed by U.S. government agencies and instrumentalities) and taxable municipal securities.
The Fund may also invest in preferred securities or CoCos that are convertible into common stock.
The Fund normally invests at least 50% of its net assets in securities rated investment grade (BBB/Baa or higher) at the time of purchase by at least one independent rating agency and unrated securities judged to be of comparable quality by the Fund’s portfolio managers. The Fund may invest up to 50% of its net assets in securities rated below investment grade (BB/Ba or lower) or unrated securities judged to be of comparable quality by the Fund’s portfolio managers at the time of purchase, which are commonly referred to as “high yield” securities or “junk” bonds. The Fund may also invest in U.S. dollar-denominated securities issued by non-U.S. companies.
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 intends to invest at least 25% of its assets in the securities of companies principally engaged in financial services.
The Fund’s sub-adviser considers several factors in constructing the Fund’s portfolio of preferred securities, including credit risk, diversification, preferred sub-market analysis, call protection and yield curve analysis. From this analysis, the
Fund’s sub-adviser builds a portfolio of securities that it believes offers the most attractive mix of value relative to securities with similar credit ratings, current income and call protection.
Read More

NPSFX - Performance

Return Ranking - Trailing

Period NPSFX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.7% 5.9% 18.2% 64.10%
1 Yr 18.9% 12.0% 35.3% 66.67%
3 Yr 1.9%* -7.1% 8.4% 19.44%
5 Yr 3.8%* -4.6% 12.5% 11.76%
10 Yr N/A* 1.0% 5.2% 26.67%

* Annualized

Return Ranking - Calendar

Period NPSFX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.1% -3.6% 14.2% 79.49%
2022 -14.7% -29.4% -9.6% 15.28%
2021 0.3% -3.4% 17.2% 37.50%
2020 0.1% -24.8% 9.0% 73.91%
2019 11.3% 6.4% 19.1% 55.38%

Total Return Ranking - Trailing

Period NPSFX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.7% 5.9% 18.2% 64.10%
1 Yr 18.9% 12.0% 35.3% 66.67%
3 Yr 1.9%* -7.1% 8.4% 19.44%
5 Yr 3.8%* -4.6% 12.5% 11.76%
10 Yr N/A* 1.0% 5.2% 24.49%

* Annualized

Total Return Ranking - Calendar

Period NPSFX Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% -1.9% 26.5% 57.69%
2022 -9.8% -26.0% -5.8% 13.89%
2021 5.5% -2.5% 27.4% 13.89%
2020 6.0% -19.2% 12.3% 37.68%
2019 18.3% 10.0% 32.0% 36.92%

NAV & Total Return History

NPSFX - Holdings

Concentration Analysis

NPSFX Category Low Category High NPSFX % Rank
Net Assets 4.83 B 24.1 M 14.5 B 23.08%
Number of Holdings 240 49 439 28.21%
Net Assets in Top 10 910 M 8.45 M 1.89 B 14.10%
Weighting of Top 10 20.05% 11.3% 48.1% 43.59%

Top 10 Holdings

  1. US 10YR NOTE (CBT)Sep24 6.75%
  2. State Street Navigator Securities Lending Government Money Market Portfolio 2.60%
  3. US LONG BOND(CBT) Sep24 1.77%
  4. US ULTRA BOND CBT Sep24 1.53%
  5. Societe Generale SA 1.43%
  6. Assured Guaranty Municipal Holdings Inc 1.30%
  7. Barclays PLC 1.25%
  8. Assurant Inc 1.15%
  9. SBL Holdings Inc 1.14%
  10. Deutsche Bank AG 1.13%

Asset Allocation

Weighting Return Low Return High NPSFX % Rank
Bonds 		83.58% 0.00% 97.80% 30.77%
Convertible Bonds 		28.65% 0.00% 31.65% 13.33%
Preferred Stocks 		14.26% 0.25% 125.69% 66.67%
Other 		10.18% -4.41% 10.18% 1.28%
Cash 		2.60% -0.02% 10.76% 35.90%
Stocks 		0.00% 0.00% 29.42% 48.72%

Bond Sector Breakdown

Weighting Return Low Return High NPSFX % Rank
Corporate 		98.24% 62.31% 100.00% 29.33%
Derivative 		10.05% -0.56% 10.05% 1.28%
Cash & Equivalents 		2.60% 0.00% 10.76% 33.33%
Government 		0.73% 0.00% 21.71% 16.00%
Securitized 		0.00% 0.00% 0.00% 12.00%
Municipal 		0.00% 0.00% 0.00% 12.00%

Bond Geographic Breakdown

Weighting Return Low Return High NPSFX % Rank
US 		83.58% 0.00% 97.80% 29.49%
Non US 		0.00% 0.00% 22.53% 50.00%

NPSFX - Expenses

Operational Fees

NPSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.69% 0.05% 4.46% 79.22%
Management Fee 0.65% 0.00% 1.00% 34.62%
12b-1 Fee 0.00% 0.00% 1.00% 6.06%
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

NPSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

NPSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

NPSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 12.00% 199.00% 7.35%

NPSFX - Distributions

Dividend Yield Analysis

NPSFX Category Low Category High NPSFX % Rank
Dividend Yield 5.85% 0.00% 9.59% 24.36%

Dividend Distribution Analysis

NPSFX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

NPSFX Category Low Category High NPSFX % Rank
Net Income Ratio 4.65% 0.88% 7.54% 28.38%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NPSFX - Fund Manager Analysis

Managers

Douglas Baker

Start Date

Tenure

Tenure Rank

Dec 19, 2006

15.46

15.5%

Mr. Baker is the head of the Preferred Securities Sector Team and a member of the Fixed Income Strategy Committee, which establishes investment policy for all taxable fixed income products. He co-leads the taxable fixed income credit oversight process, which provides a structure for implementing credit strategy across taxable fixed income. As a senior fixed income portfolio manager, he is the lead manager for Nuveen Asset Management’s Preferred Securities related strategies, as well as a co-portfolio manager for the Multi-Sector, Core Plus Bond, and Inflation Protected Municipal Bond strategie

Brenda Langenfeld

Start Date

Tenure

Tenure Rank

Jan 31, 2012

10.34

10.3%

Brenda A. Langenfeld, CFA, entered the financial services industry in 2004. She has been a Vice President and Portfolio Manager at Nuveen Asset Management since joining the firm in 2011. She was named Co-Portfolio Manager of the Preferred Securities strategy in January 2012. In April 2015, she was named Co-Portfolio Manager of the Real Asset Income strategy. She was named Senior Vice President in March 2017. In March 2019, she was named Managing Director.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42

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