Investment, Market, and Price Risk: Closed-end fund shares are subject to investment risk, including the possible loss of the entire principal amount that you invest. Common shares frequently trade at a discount to their NAV. At any point in time, your common shares may be worth less than you paid, even after considering the reinvestment of fund distributions.
MLP Units Risk: An investment in MLP units involves risks that differ from a similar investment in equity securities. Holders of MLP units have the rights typically afforded to limited partners in a limited partnership, which include more limited control and voting rights than common stockholders of a corporation receive.
Concentration Risk: The fund’s investments are concentrated in issuers of one or a few specific economic sectors, so the fund may be subject to more risks than if it were broadly diversified across the economy.
Common Stock Risk: Common stock returns often have experienced significant volatility.
Tax Risk: The tax treatment of fund distributions may be affected by future changes in tax laws and regulations or their interpretation by the Internal Revenue Service or state tax authorities.
Leverage Risk: The fund’s use of leverage may cause higher volatility for the fund’s per share NAV, market price, and distributions. Leverage typically magnifies the total return of the fund’s portfolio, whether that return is positive or negative. Leverage is intended to increase common share net income, but there is no assurance that the fund’s leveraging strategy will be successful. Different forms of leverage, including swaps, may introduce additional credit or interest rate risk. Leverage may also increase a fund’s liquidity risk, as the fund may need to sell securities at inopportune times to stay within fund or regulatory limits.
Potential distribution sources include net investment income, realized gains and return of capital. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time which may be viewed at: www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year. The fund seeks to maintain an attractive and stable regular distribution amount based on the fund’s net cash flow received from portfolio investments. Fund distributions are not intended to include expected portfolio appreciation; however, the fund invests in securities which have cash flow that ultimately may be fully or partially treated as gains or return of capital for tax purposes. You should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate.
Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent market price and NAV. Special distributions, including special capital gains distributions, are not included in the calculation.