Closed-End Funds

CEF

Nuveen Dividend Advantage Municipal Fund 2 (NYSE MKT: NXZ)

Capital Structure

As of 6/30/2014
Common Net Assets$456,291,442
Variable Rate Demand Prefer$196,000,000
Total Managed Assets$652,291,442
Tender Option Bond Floating Rate Obligation$40,695,000
Total Investment Exposure$692,986,442

Leverage

As of 6/30/2014
 DollarPercent
Total Regulatory Leverage$196,000,00030.05%
Effective Leverage$236,695,00034.16%
Asset Coverage 1$652,291,442332.80%

 

Average Leverage Costs: 
Annualized cost, based on the latest month0.28%

 

Common Shares 
Shares Outstanding29,478,412
Avg. Daily Volume (in shares)60,986

 

Fund Basics

CUSIP67070F100
NAV TickerXNXZX
Inception Date3/27/2001
Inception NAV$14.33
Inception Share Price$15.00

Annual Expense Ratios

As of 6/30/2014
 Common SharesTotal Fund
Management Fees0.87%0.60%
Other Expenses0.09%0.06%
SubTotal:0.96%0.66%
Interest Expense from Leverage0.59%0.40%
Total1.55%1.06%

Fund fees and expenses are presented as a percentage of both common shareholder capital and total fund investment capital. Total investment capital includes common assets as well as assets attributable to the fund's issuance of senior securities (e.g. preferred shares and other forms of leverage). The table's first column portrays the costs directly and indirectly borne by common shareholders on an investment in the fund's common shares. The table's second column portrays the costs borne by the fund on its total investment capital, which enables a common shareholder to better understand how fund expenses impact portfolio investment returns. Interest expenses from leverage are shown separately, because they represent costs associated with the fund's financing activities which are distinct from the costs associated with the fund's underlying core operations.

Other Expenses and Total Expenses do not include interest expenses arising from the application of SFAS No. 140 to certain inverse floating rate securities (if any) held by the Fund. Interest expense arises because accounting rules require the fund to treat interest paid by trusts issuing certain inverse floating rate instruments held by the fund as having been paid (indirectly) by the fund. Because the fund also recognizes a corresponding amount of additional income earned (also indirectly), the fund's net asset value per share, net investment income and total return have not been affected by this accounting treatment. See the fund's Annual Report for information on the fund's inverse floating rate investments and recognized interest expense.


Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.

An investment in this fund presents a number of risks and is not suitable for all investors. Investors should carefully review and consider potential risks before investing. For more detailed information on the specific risks associated with this fund, please view the Overview tab.

NOTES

1 The ratio of a fund's total managed assets to the sum of (the fund's outstanding preferred shares, at par, plus its outstanding borrowings).

The ratio of the sum of (debt interest plus preferred dividends) to the average leverage amount for a given time period. These figures do not include costs associated with tender option bond floating rate obligations.

Not registered?

Register for access to investment team commentary, detailed portfolio information, and other advisor resources. For instant access, register now.

Your Contacts

Our goal is to deliver lasting value to our clients. For assistance, please call or email our advisor service team or contact your personal Nuveen Service Team.

Log in to nuveen.com to access your personal Nuveen Service Team.

Financial Advisors

800-752-8700
Email

Registered Investment Advisors

800-558-4487

Account Access

For more information on Mutual Fund Vision, FAN Mail, or accessing client accounts, please visit our advisor account access page.

Advisor Access

Investor Access