• Overview
  • Target allocations
  • Performance
  • Characteristics
  • Portfolio statistics
  • Literature
  • Management
  • Contact
  • Risks
utility-drawer__close
0
Add funds
Fund 1
Fund 2
Fund 3
Fund 4
TOOLS
The Morningstar Fund Compare tool quickly evaluates different funds against one another. In addition to Nuveen funds, add any MF, CEF or ETF available from Morningstar. Important information and disclosures are included after you click Generate Report. Please ensure to enable pop-ups in your browser.
The Morningstar Portfolio Review tool compares and analyzes your portfolio holdings. In addition to Nuveen funds, add any MF, CEF or ETF available from Morningstar. Important information and disclosures are included after you click Generate Report. Please ensure to enable pop-ups in your browser.
utility-drawer__mobile-restriction Tools are currently unavailable for use on mobile. Please visit the desktop site.
fund compare tool image
Fund Compare
Quickly evaluate different MFs, CEFs and ETFs against one another
portfolio review tool image
Portfolio Review
Generate a detailed analysis of your portfolio holdings including MFs, CEFs and ETFs
Image of Municipal bond investing ladder tool
Municipal Bond Ladder Tool
Learn how a laddered portfolio may perform in rising rate environments
Powered by Morning star
Confirm your location and role
location select
language select
This site and all the information contained herein is general and/or educational in nature. Individuals should consult an investment advisor before making any investment decisions. By using the site I agree to the applicable terms for Financial Intermediaries, Institutional Investors and Individuals.
Privacy notice Cookie policy, terms of use
Accept to continue
Contact Nuveen
(Up to 600 characters)
Please check reCaptcha to continue
*Indicates Response Required
Thank You

Thank you for your message. We will contact you shortly.

model portfolio hero

Key distinctions
  • Strategic, forward-looking outcome-focused approach informed by Nuveen's global market views and deep municipal expertise to help deliver income while minimizing downside risk
  • Simplified diversification strategies to help achieve investors' income and risk objectives in an increasingly volatile and complex municipal market
  • Broad municipal fund offering from an industry leader providing diversified access to Nuveen's municipal market thought leadership and research capabilities

An active approach to diversified tax-exempt income

Nuveen's forward-thinking approach to portfolio construction leverages 120 years as a leader in the municipal bond industry to help achieve outcomes that align with investors’ tax-exempt income objectives while seeking to minimize downside risk.

Highlights
  • During the third quarter, the Federal Reserve raised the Fed Funds rate by 75 bps in July and September. This led to the front end of the yield curve to rise by more than the belly (middle) and long end of the curve. The 2-year yield rose by 133 bps, while the 10- and 30-year yield rose by 82 and 59 bps. In September, the Fed’s dot plot was revised to an additional 125 bps of rate hikes by year end.
  • AAA municipal/US Treasury ratios (“ratios”) rose at the front and long end tenors, while they declined across the belly of the curve. The 2-year ratio rose by 6% and finished the quarter at 72%. The 30-year ratio moved range bound  between 95% and 105% and ended the quarter at 104%. This is leading to the municipal curve to be much steeper than the treasury curve.
  • With respect to recent portfolio changes, we focused on managing duration risk in anticipation of an aggressive rate hiking cycle, while reducing credit risk. Several of the underlying funds had a modest increase in duration over the quarter. With the expectations for rate hikes, the team made modest decreases to higher duration funds in favor of lower duration funds. This resulted in the models having a similar duration profile compared to the beginning of the quarter.
  • In the conservative portfolio, intermediate duration was reduced, while adding to limited term. In the moderate portfolio, high yield and All-American was reduced and exposure to intermediate duration rose. High yield spreads modestly rose over the quarter but remain in line with the long-term average, we continue to have a neutral stance on credit. The neutral view on credit, while trying to balance duration, led to a reduction in the high yield and intermediate duration funds for short duration high yield and All-American in the high income model.

Target allocations

LOWER
HIGHER
POTENTIAL VOLATILITY AND YIELD

Performance

Yields

Yield is represented by the weighted average SEC 30-day yield of the blended model portfolio. The SEC 30-day yield is computed under an SEC standardized formula and is based on the maximum offer price per share. The Taxable-equivalent yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis at a specified tax rate. If the comparison were instead to investments that generate qualified dividend income, which is taxable at a rate lower than an individual’s ordinary graduated tax rate, the Fund’s Taxable-equivalent yield would be lower. The Taxable-equivalent yield is based on the Fund’s SEC 30-day yield on the indicated date and a federal income tax rate of 40.8% (maximum federal income tax rate and the Medicare tax). Investors should consider their own tax rate when investing in municipal bonds.

Average annual total returns

Performance data shown represents past performance and does not predict or guarantee future results. Performance shown is based on a representative account. Nuveen model portfolios are intended to illustrate how combinations of Nuveen affiliated products could be used to achieve the stated investment objectives. The value of the portfolio will fluctuate based on the value of the underlying securities. Daily returns are calculated net of underlying Fund expenses. Total returns for a period of less than one year are cumulative. Results are inherently limited and do not represent actual results and may not account for the impact of the general market.

Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.

S&P Municipal Bond Index is shown for reference purposes only. These Nuveen model portfolios are designed to achieve an outcome, in this case different levels of tax-exempt income for different levels of risk. They are not designed to outperform or track a particular benchmark or index.

Calendar year returns

Expense ratios

Expense ratios are represented by the weighted average expense ratio of the blended model portfolio and are based on the Funds’ most recent fiscal year end. Please see the underlying fund prospectuses for details.

Characteristics

  • Sector allocation
  • Maturity profile
  • Bond credit quality

Sector allocation

Sector allocation is represented by the weighted average sector allocation of the blended model portfolio.

Maturity profile

Bond credit quality

Credit quality is represented by the weighted average credit quality of the blended model portfolio. Ratings shown are the highest rating given by one of the following national rating agencies: S&P, Moody’s or Fitch. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. U.S. government securities, if owned by the Fund, are included in the U.S. Treasury/Agency category (included only if applicable). Holdings designated NR are not rated by these national rating agencies.

Portfolio statistics

  • Conservative
  • Moderate
  • High

Conservative

Portfolio statistics are represented by the weighted average statistics of the blended model portfolio.

Moderate

Portfolio statistics are represented by the weighted average statistics of the blended model portfolio.

High

Portfolio statistics are represented by the weighted average statistics of the blended model portfolio.

Literature

Related content
city momentum
Tax-exempt income models overview
Nathan Shetty, Head of Multi-Asset, discusses diversified solutions for tax-exempt outcomes.
Staggered white stairs
Income investing
The ability to find yield changes as markets change, and today our clients are seeking stable income with reduced volatility.
Inflation considerations
Inflation: preparing income portfolios for a shifting environment
How can investors manage the possible risks while also positioning portfolios to take advantage of the shifting environment?
Anders S. Persson, Nathan S. Shetty, Brian Griggs

Portfolio managers

Shetty,

Nathan S. Shetty, CFA, FRM

Head of Multi-Asset
Suschko,

Nazar Suschko Ph.D., FRM

Portfolio Manager
Contact us
Financial Professionals
800.752.8700
Individual Investors
800.257.8787
Important information on risk

Model portfolios

Nuveen model portfolios (“models”) are intended to illustrate how combinations of Nuveen affiliated products could be used to achieve the stated investment objectives. Results are inherently limited and do not represent actual results and may not account for the impact of the general market. Models are not automatically rebalanced; allocations may not achieve model objectives and are not guaranteed. Both the actual underlying Funds and model allocations may vary. Allocations are reviewed periodically and may change based on Nuveen's strategic and tactical views. There are no management or other fees at the model level; however fees apply for the underlying Funds as outlined in each Fund’s prospectus. The models’ risks are directly related to those of the underlying Funds, as described below. Allocations may not match a client’s actual experience from an account managed in accordance with the model portfolio allocation.

Important information on risk

Investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the funds, are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuers ability to make interest and principal payments when due. The models concentrate in non-investment-grade and unrated bonds with long and short maturities and durations which carry heightened credit risk, liquidity risk, and potential for default. In addition, the funds oftentimes engage in a significant amount of portfolio leverage and in doing so, assumes a high level of risk in pursuit of its objectives. Leverage involves the risk that the funds could lose more than its original funding amount and also increases the exposure to volatility, interest rate risk and credit risk.

Portfolio allocations will be principally to funds managed by affiliates and to affiliated sub-advisers, which may present a conflict of interest.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

FRM® (Financial Risk Manager) is a trademark owned by the Global Association of Risk Professionals.

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.


Featuring portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen, LLC.

Nuveen Securities, LLC, member FINRA and SIPC.

OCM-2469342PR-Q1022P

Footer Arc Background

Discover

Investing

Our Company

The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or investment strategy and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her financial professionals.

Nuveen provides investment advisory solutions through its investment specialists. Nuveen Securities, LLC, member FINRA  and SIPC  .

The TIAA group of companies does not provide legal or tax advice. Please consult your legal or tax advisor.

The information on this website is intended for U.S. residents only. If you are a non-U.S. resident, please visit the Global section of our website www.nuveen.com/global  . The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.

NOT FDIC INSURED         MAY LOSE VALUE         NO BANK GUARANTEE

© 2022 Nuveen, LLC. All rights reserved.

O-2580651P-Y1122W

You are about to access our website for visitors outside of the United States.

Continue

You are about to access our website for Nuveen Global Cities REIT

Continue

You are leaving the Nuveen website.

You are leaving the Nuveen website and going to the website of the MI 529 Advisor Plan, distributed by Nuveen Securities, LLC.
Continue

The Nuveen website for institutional investors is available for you.

Continue

You are about to access our website for visitors outside of the United States.

Continue
Contact us
Contact us
Back to Top