3 Nuveen Mutual Funds for Excellent Returns
With $1.1 trillion in assets under management as of Mar 31, 2023, Nuveen, LLC is a wholly-owned subsidiary of the Teachers Insurance and Annuity Association of America. It manages a wide range of mutual funds, including both equity and fixed-income funds, and domestic and foreign funds. Founded in 1898 by John Nuveen, the company currently has more than $478 billion of assets invested in fixed-income bonds.
Nuveen manages assets across a wide range of asset classes and products. Also, it offers financial services to its clients using a multi-boutique structure. The company provides these services through its independent team — Nuveen Asset Management, Winslow Capital and Symphony.
Below, we share with you three top-ranked Nuveen mutual funds, viz., Nuveen Small/Mid Cap Value Fund NSMAX, Nuveen International Value Fund NAIGX and Nuveen High Yield Municipal Bond Fund NHMAX. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.
Nuveen Small/Mid Cap Value Fund invests in equity securities of U.S. companies with market capitalization similar to those on the Russell 2500 Value Index. NSMAX also invests its net assets in non-U.S. equity securities, including in emerging market countries.
Nuveen Small/Mid Cap Value Fund has three-year annualized returns of 17.2%. As of March 2023, NSMAX held 59 issues, with 2.7% of its assets invested in Nvent Electric.
Nuveen International Value Fund seeks to provide long-term capital appreciation by investing in equity securities of companies domiciled in countries other than the United States. NAIGX advisors choose to invest in medium to large capitalization companies.
Nuveen International Value Fund has three-year annualized returns of 12%. James T. Stephenson has been one of the fund managers of NAIGX since 2018.
Nuveen High Yield Municipal Bond Fund seeks high current income exempt from regular federal income taxes. NHMAX invests in medium- to low-quality bonds.
Nuveen High Yield Municipal Bond Fund has three-year annualized returns of 1.9%. NHMAX has an expense ratio of 0.74% compared with the category average of 0.92%
To view the Zacks Rank and the past performance of all mid-cap blend mutual funds, investors can click here to see the complete list of Nuveen mutual funds.
Want key mutual fund info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>
View All Zacks #1 Ranked Mutual Funds
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Get Your Free (NSMAX): Fund Analysis Report
Get Your Free (NHMAX): Fund Analysis Report
Get Your Free (NAIGX): Fund Analysis Report
