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Fund highlights
  • Enhanced yield potential: Offers enhanced yield potential relative to the short-term, U.S. investment-grade fixed-income market with comparable risk.
  • Core income portfolio: Offers an alternative to market-cap-weighted strategies that can serve as a diversified core income allocation in a portfolio.
  • Low cost, transparent solution: Provides cost-efficient, exchange-traded transparency and accessibility.

Fund description

The Fund offers the potential for enhanced yield with the risk and credit quality profile of the short-term, taxable U.S. investment-grade bond market. Rather than weighting by market cap, the strategy uses a rules-based methodology that allocates higher weights to securities and sectors that have the potential for higher yield, while maintaining comparable risk. The Fund invests primarily in U.S. government securities, debt securities issued by U.S. corporations, residential and commercial mortgage-backed securities, asset-based securities and U.S. dollar-denominated debt securities issued by non-U.S. governments and corporations and seeks to track the investment results, before fees and expenses, of the ICE BofA Enhanced Yield 1-5 Year U.S. Broad Bond Index.

Index description

The ICE BofA Enhanced Yield 1-5 Year U.S. Broad Bond Index (the “Enhanced Index”) is designed to broadly capture the 1-5 year U.S. investment grade fixed income market. Rather than weighting by capitalization, the Enhanced Index uses a rules-based methodology that allocates higher weights to securities and sectors that have the potential for higher yield while maintaining comparable risk.

Index provider: ICE Data Services

For term definitions, please access the glossary in the footer.

Fund basics

Fund data

Performance

  • Average annual total returns
  • Morningstar Ratings

Average annual total returns

Morningstar ratings

Morningstar ratings are based on historical risk-adjusted total returns, which are not indicative of future results.

Past performance is no guarantee of future results. Investment returns and principal value will fluctuate so that shares redeemed may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns assume reinvestment of dividends and capital gains. Market price returns are based on the closing market price.

Shares of ETFs are bought and sold at market price as opposed to net asset value. As a result, an investor may pay more than net asset value when buying and receive less than net asset value when selling. In addition, brokerage commissions will reduce returns. Fund shares are not individually redeemable directly with the Fund, but blocks of shares may be acquired from the Fund and tendered for redemption to the Fund by certain institutional investors in Creation Units.

Pricing

Daily pricing - market price

Daily pricing - NAV

Pricing history

Trailing median bid-ask spread

Premium/discount

Shares of ETFs are bought and sold at market price as opposed to net asset value. As a result, an investor may pay more than net asset value when buying and receive less than net asset value when selling. In addition, brokerage commissions will reduce returns. Fund shares are not individually redeemable directly with the Fund, but blocks of shares may be acquired from the Fund and tendered for redemption to the Fund by certain institutional investors in Creation Units. The premium/discount information provided herein represents past performance, which is no guarantee of future results.

Distributions

Distribution history

Characteristics

Portfolio statistics

  • Maturity breakdown in years
  • Credit quality
  • Sector allocation

Maturity breakdown in years

Credit quality

Ratings shown are given by one of the following national rating agencies: S&P, Moody's or Fitch. Credit ratings are subject to change. If all three agencies provide a rating for a security, an average of the ratings is used; if two of the three agencies rate a security, an average of the two is used; and if only one rating agency rates a security, that rating is used. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. U.S. Treasury, U.S. Agency, and U.S. Agency mortgage-backed securities are included in the U.S. Treasury/Agency category.

Sector allocation

All characteristics as a percentage of the fund's total net assets. Holdings and ratings are subject to change. Totals may not add up to 100% due to rounding.

Top portfolio positions

Holdings are subject to change and may not be representative of the Fund's current or future investments. The holdings listed only include the Fund's long-term investments and may exclude any temporary cash investments and equity index products. The holdings listed are not recommendations to buy or sell.

Literature

  • Fund literature
  • Prospectuses & reports
Related articles
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An exchange-traded fund (ETF) is a portfolio of securities that is listed on an exchange and can be bought and sold throughout the trading day at prices determined by market supply and demand.
Responsible Investing How Nuveen uses responsible investing across asset classes to seek higher returns and manage risks
ETFs What you need to know about ESG ETFs
Jordan Farris of Nuveen explains how ESG investing has evolved over the years, debunks common misconceptions about this approach, and highlights some key distinctions and benefits of Nuveen’s ESG ETFs.
A word on risk

Investing involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. This ETF seeks to generally track the investment results of an index; however the Fund may underperform, outperform or be more volatile than the referenced index. Interest rate risk is the risk that the value of the Fund's portfolio will decline because of rising interest rates. Credit risk is the risk that an issuer of a debt security may be unable or unwilling to make interest and principal payments when due and the related risk that the value of a debt security may decline because of concerns about the issuer's ability or willingness to make such payments. This ETF is concentrated in the financial sector. Performance of companies in the financial sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, changes in interest rates and decreased liquidity in credit markets. These and other risk considerations are described in detail in the Fund's prospectus.

ICE Data Indices, LLC and its affiliates (“ICE BofA”) indices and related information, the name “ICE BofA”, and related trademarks, are intellectual property licensed from ICE BofA, and may not be copied, used, or distributed without ICE BofA’s prior written approval. The licensee’s products have not been passed on as to their legality or suitability, and are not regulated, issued, endorsed, sold, guaranteed, or promoted by ICE BofA. ICE BofA MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE INDICES, ANY RELATED INFORMATION, ITS TRADEMARKS, OR THE PRODUCT(S) (INCLUDING WITHOUT LIMITATION, THEIR QUALITY, ACCURACY, SUITABILITY AND/OR COMPLETENESS).

It is not possible to invest directly in an index.

Past performance is no guarantee of future results. Investment returns and principal value will fluctuate so that shares redeemed may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns assume reinvestment of dividends and capital gains. Market price returns are based on the closing market price.

Shares of ETFs are bought and sold at market price as opposed to net asset value. As a result, an investor may pay more than net asset value when buying and receive less than net asset value when selling. In addition, brokerage commissions will reduce returns. Fund shares are not individually redeemable directly with the Fund, but blocks of shares may be acquired from the Fund and tendered for redemption to the Fund by certain institutional investors in Creation Units.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. ©2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from your financial professional or Nuveen at 800.257.8787.


Nuveen Fund Advisors, LLC serves as the Fund’s adviser and Teachers Advisors, LLC serves as the Fund’s sub-adviser; both the adviser and sub-adviser are subsidiaries of Nuveen, LLC.
Nuveen Securities, LLC, member FINRA and SIPC.

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All portfolio positions

Holdings are subject to change and may not be representative of the Fund's current or future investments. The holdings listed only include the Fund's long-term investments and may exclude any temporary cash investments and equity index products. The holdings listed are not recommendations to buy or sell.

Premium/discount history

Shares of ETFs are bought and sold at market price as opposed to net asset value. As a result, an investor may pay more than net asset value when buying and receive less than net asset value when selling. In addition, brokerage commissions will reduce returns. Fund shares are not individually redeemable directly with the Fund, but blocks of shares may be acquired from the Fund and tendered for redemption to the Fund by certain institutional investors in Creation Units. The premium/discount information provided herein represents past performance, which is no guarantee of future results.

Pricing history