The investment seeks high current income exempt from regular federal income taxes; capital appreciation is a secondary objective. The fund normally invests at least 80% of net assets in municipal bonds that pay interest that is exempt from regular federal personal income tax. Under normal market conditions, it invests at least 65% of its net assets in low-to-medium-quality bonds rated BBB/Baa or lower. 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").
Fund filings (PDF) »

Asset manager:
John Miller (Started: Dec 31, 2000)

Advisor Company:
Nuveen Fund Advisors, LLC.
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	7.15	1.94	-4.33	-0.63
Beta*	1.28	1.48	1.78	1.40
Mean annual return	1.14	0.91	0.52	0.48
R-squared*	90.12	74.98	37.65	37.86
Standard deviation	3.81	6.43	13.82	10.39
Sharpe ratio	3.55	1.68	0.43	0.39
* Against standard index

Risk measurement details »

Security	Net Assets
Iowa Fin Auth 4.75%	1.00%
Tennessee Engy Acquisition C Jr R 5.625%	0.90%
Buckeye Ohio Tob Settlement Fi To 5.875%	0.73%
Tobacco Settlement Fing Corp V Asset 5%	0.69%
Tulsa Okla Mun Arpt Tr Rev Rev Bds 6.25%	0.62%
Dallas-Fort Worth Tex Intl Arp Re 6.375%	0.59%
Illinois Fin Auth 6.5%	0.55%
Buckeye Ohio Tob Settlement Fi Tob 5.75%	0.54%
Pennsylvania Econ Dev Fing Rev Bds 6%	0.52%
Golden St Tob Securitization C Tobacco S	0.52%

Holdings Performance »