Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Nuveen Municipal Income
$23.66+0.14 (+0.57%)
- 0.30%
- $84M
- −2.7%
- 3.63%
- 0M sh
- $23.54
- low $22.51high $25.66
The ETF.net NUMI Grade
B
Score 56 out of 100
- 34 of 63
Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C52 out of 100Rank 29 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A77 out of 100Rank 47 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D39 out of 100Rank 52 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B55 out of 100Rank 27 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C51 out of 100Rank 41 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C40 out of 100Rank 47 of 63
Our read on NUMI
BNuveen put its veteran muni desk into an ETF in 2025: actively run, deliberately long-maturity, and free to lean up to 35% into high-yield municipals while index rivals stay plain investment grade.
The Fund invests at least 80% of its net assets in municipal securities whose interest is exempt from federal income taxes.
Why people hold it
- Active muni management at 0.29%, just under the typical fee in its peer group.
- At least 80% of net assets sit in municipal bonds paying interest exempt from federal income tax, and the fund distributes monthly.
- Primarily investment grade (65% floor) with room for up to 35% in below-investment-grade munis, so credit picking, not just index weight, drives the portfolio.nuveen.commutualfunds.com
- Roughly 300 bonds spread the single-issuer risk that comes with buying munis one CUSIP at a time.
Worth knowing
- A long-term bond fund by mandate: weighted average maturity above 10 years means sharper price moves when rates shift.nuveen.commutualfunds.com
- Index heavyweights VTEB, SCMB and MUB run for a few basis points, so this fee buys active credit work rather than the cheapest muni beta.
- Launched in 2025, still modest in size and thinly traded, which can widen spreads at the open and close.
NUMI Holdings
- Bonds
- 286
- 17%
- GVMXX
Sectors
- Financials100.0%
NUMI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
NUMI$9,730
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | NUMI |
|---|---|
| Year to date | −3.9% |
| 1 month | −2.4% |
| 3 months | −5.5% |
| 1 year | −2.7% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | NUMI |
|---|---|---|
| 2026 YTD | −3.9% | |
| 2025 | +3.8% |
NUMI in the news
NUMI Dividends
- 3.63%
- $0.85
- $0.07 per share
- Monthly
Distribution history
NUMI Risk
- 5.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.78
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −7.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.16
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
NUMI Cost
0.30%
NUMI0.30%
- The middle half of Other Municipal Bond funds
- Median 0.30%
28 of the 63 Other Municipal Bond funds charge less.
Other funds in Other Municipal Bond
- CFTMNPutnam ETF Trust - Franklin Minnesota Municipal Income ETFExpense ratio 0.36%1 year return —
- BJHMUJohn Hancock Investments - Dynamic Municipal Bond ETFExpense ratio 0.39%1 year return −1.1%
- BMMINNYLI MacKay Muni Insured ETFExpense ratio 0.40%1 year return −2.4%
- CBMOPBNY Mellon Municipal Opportunities ETFExpense ratio 0.54%1 year return —
- CFTPAFranklin Pennsylvania Municipal Income ETFExpense ratio 0.36%1 year return —