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.
Common Stock Risk: Common stock returns often have experienced significant volatility.
Foreign Investment Risk: Investments in non-U.S securities involve special risks not typically associated with domestic investments including currency risk, if not hedged - the risk that changes in exchange rates will affect the value of the fund’s investments, as well as adverse political, social and economic developments. These risks often are magnified in emerging markets.
Currency Hedging Risk: The fund uses derivative instruments for hedging foreign currency exposure, but there is no assurance that the fund's currency exposure will be completely eliminated.
Counterparty Risk: Certain derivative instruments, repurchase agreements, swap agreements and other forms of financial instruments that involve counterparties subject the fund to the risk that the counterparty could default on its obligations under the agreement, either through the counterparty's bankruptcy or failure to perform its obligations. In the event of default, the fund could experience lengthy delays in recovering some or all of its assets or no recovery at all.
Call Option Risk: The value of call options sold (written) by the fund will fluctuate. The fund may not participate in any appreciation of its equity portfolio as fully as it would if the fund did not sell call options. In addition, the fund will continue to bear the risk of declines in the value of its equity portfolio.
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.
Preferred Securities Risk: Preferred securities are subordinated to bonds and other debt instruments in a company’s capital structure, and therefore are subject to greater credit risk.
Interest Rate Risk: Fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value if market interest rates rise.
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. Under its Managed Distribution policy, the fund seeks to maintain an attractive and stable regular distribution amount that, over the long term, matches the fund’s total distributions paid to its total return. 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.