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If investors are looking at the Muni - Bonds fund category, Nuveen Intermediate Duration Municipals I (NUVBX - Free Report) could be a potential option. NUVBX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify NUVBX in the Muni - Bonds category, an area rife with potential choices. Muni - Bonds funds focus their investments on debt securities issued by state and local governments. These are typically used to pay for the construction of infrastructure, the operation of public schools, and other municipal functions. These securities can come in the form of revenue bonds, which are backed by taxes, as well as " general obligation " bonds that are not backed by a defined source. Investors are usually interested that come with most municipal bonds, which can be especially important for those in higher tax brackets.
History of Fund/Manager
Nuveen is based in Chicago, IL, and is the manager of NUVBX. Since Nuveen Intermediate Duration Municipals I made its debut in November of 1976, NUVBX has garnered more than $6.94 billion in assets. Paul L. Brennan is the fund's current manager and has held that role since December of 2007.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 1.08%, and it sits in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of -0.1%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 11.62%, the standard deviation of NUVBX over the past three years is 6.26%. Looking at the past 5 years, the fund's standard deviation is 5.72% compared to the category average of 12%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.64, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, NUVBX has a negative alpha of -0.14, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, NUVBX has 40.1% in high quality bonds rated at least 'AA' or higher, while 42.6% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of A, and focuses on high quality securities.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, NUVBX is a no load fund. It has an expense ratio of 0.45% compared to the category average of 0.84%. From a cost perspective, NUVBX is actually cheaper than its peers.
This fund requires a minimum initial investment of $100,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Nuveen Intermediate Duration Municipals I ( NUVBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, better downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
This could just be the start of your research on NUVBXin the Muni - Bonds category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.
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Is NUVBX a Strong Bond Fund Right Now?
If investors are looking at the Muni - Bonds fund category, Nuveen Intermediate Duration Municipals I (NUVBX - Free Report) could be a potential option. NUVBX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
We classify NUVBX in the Muni - Bonds category, an area rife with potential choices. Muni - Bonds funds focus their investments on debt securities issued by state and local governments. These are typically used to pay for the construction of infrastructure, the operation of public schools, and other municipal functions. These securities can come in the form of revenue bonds, which are backed by taxes, as well as " general obligation " bonds that are not backed by a defined source. Investors are usually interested that come with most municipal bonds, which can be especially important for those in higher tax brackets.
History of Fund/Manager
Nuveen is based in Chicago, IL, and is the manager of NUVBX. Since Nuveen Intermediate Duration Municipals I made its debut in November of 1976, NUVBX has garnered more than $6.94 billion in assets. Paul L. Brennan is the fund's current manager and has held that role since December of 2007.
Performance
Investors naturally seek funds with strong performance. This fund in particular has delivered a 5-year annualized total return of 1.08%, and it sits in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of -0.1%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 11.62%, the standard deviation of NUVBX over the past three years is 6.26%. Looking at the past 5 years, the fund's standard deviation is 5.72% compared to the category average of 12%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.64, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, NUVBX has a negative alpha of -0.14, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, NUVBX has 40.1% in high quality bonds rated at least 'AA' or higher, while 42.6% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of A, and focuses on high quality securities.
Expenses
As competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, NUVBX is a no load fund. It has an expense ratio of 0.45% compared to the category average of 0.84%. From a cost perspective, NUVBX is actually cheaper than its peers.
This fund requires a minimum initial investment of $100,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Nuveen Intermediate Duration Municipals I ( NUVBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, better downside risk, and lower fees, this fund looks like a good potential choice for investors right now.
This could just be the start of your research on NUVBXin the Muni - Bonds category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.