A bond's stated redemption value at maturity. Most bonds have a face value, or par value, of $1,000.
Fair Valuation is the price of a security that one might reasonably expect to receive upon a current sale.
FANG is the acronym for four high performing technology stocks in the market as of 2017 – Facebook, Amazon, Netflix, and Google (now Alphabet, Inc.).
Fed Funds Rate
The interest rate which is charged by banks to lend to other banks needing overnight loans. The Federal Reserve Board sets the target for this rate which is the most sensitive indicator of the direction of short-term interest rates.
Federal Reserve System
The central bank of the United States, which has regulated credit in the economy since its inception in 1913. It includes the Federal Reserve Bank, 14 district banks, and the member banks of the Federal Reserve.
Financial Industry Regulatory Authority (FINRA)
A regulatory body created after the merger of the National Association of Securities Dealers (NASD) and the New York Stock Exchange’s regulation committee. The Financial Industry Regulatory Authority is responsible for governing business between brokers, dealers and the investing public. By consolidating these two regulators, FINRA aims to eliminate regulatory overlap and cost inefficiencies.
An accounting period of 365 days (366 in leap years) for which a fund prepares financial statements and performance data. It is not necessarily the same as the calendar year (January 1 through December 31).
A fund whose objective is to provide current income by investing in fixed-income securities.
A security that pays a specific rate of interest or dividends. Fixed-income securities include bonds, CDs, and preferred stock (preference share).
Fixed Rate Preferred
Preferred shares issued by a closed-end fund featuring fixed rate dividends, with a fixed term and mandatory redemption. “Fixed Rate Preferred” includes the following securities: MuniFund Term Preferred (MTP)
Securities that have a single fixed coupon rate through its life.
Securities that step from one fixed rate coupon to another based on a schedule. This includes securities where the underlying index reset period is greater than 1 year.
Securities that are currently in the “fixed” portion of their schedule and will eventually switch to variable. This excludes securities that are within 1 year of converting to floating, and includes securities where the underlying index reset period is less than 1 year.
Floating Rate Floor
Floating rate securities often have minimum values the reference index interest rate cannot fall below. This is designed to protect holders of the security against losses in declining interest rate environments.
Floating Rate Securities
Bonds whose coupon rates adjust periodically based on a specified reset mechanism. Floating rate securities include most bank loans and some preferred stock.
Floating Rate Spread
Coupon rates for floating rate securities are typically determined by contractually designated value above (or occasionally below) a variable reference index rate, such as LIBOR or Prime. This value is known as the floating rate spread.
A purchase or sale of a security at a specified price with delivery and cash settlement at a specified future date.
A forward contract is a customized contract between two parties to buy or sell an asset at a specified price on a future date. A forward contract can be used for hedging or speculation, although its non-standardized nature makes it particularly apt for hedging.
Forward Interest Rate Swap
A contractual agreement between two counterparties under which one party agrees to make periodic payments to the other for an agreed period of time based on a fixed rate, while the other party agrees to make periodic payments based on a floating rate of interest based on an underlying index. Alternatively, both series of cash flows to be exchanged could be calculated using floating rates of interest but floating rates that are based upon different underlying indexes.
An agreement to enter into a swap at some date in the future.
Free Cash Flow
A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents the cash that a company is able to generate after laying out the money required to maintain or expand its asset base. Free cash flow is important because it allows a company to pursue opportunities that enhance shareholder value. Without cash, it's tough to develop new products, make acquisitions, pay dividends and reduce debt.
Free Cash Flow Yield
Free Cash Flow Yield is a financial ratio that standardizes the free cash flow per share a company is expected to earn against its market value per share. The ratio is calculated by taking the free cash flow per share divided by the share price.
See up-front sales charge.
FTSE Currency-Hedged World Government Bond Index
An unmanaged market-capitalization weighted index that tracks the performance of the government bond markets of Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Portugal, Spain, Sweden, Switzerland, the United Kingdom and the United States. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees. It is not possible to invest directly in an index.
FTSE EPRA/NAREIT Developed Index
The FTSE EPRA/NAREIT Developed Index is designed to track the performance of listed real estate companies and REITS worldwide. By making the index constituents free-float adjusted, liquidity, size and revenue screened, the series is suitable for use as the basis for investment products, such as derivatives and Exchange Traded Funds (ETFs).
FTSE EPRA/Nareit Global Real Estate Index
FTSE EPRA/Nareit Global Real Estate Index is a free-float adjusted, market capitalization-weighted index designed to track the performance of listed real estate companies in both developed and emerging countries worldwide.
FTSE NAREIT All Equity REITs Index
The FTSE NAREIT All Equity REITs index contains all tax-qualified REITs with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property that also meet minimum size and liquidity criteria.
FTSE Non-U.S. World Government Bond 1-3 Year Index
The Index is an index of fixed rate government bonds with a maturity of one year or longer and amounts outstanding of at least U.S. $25 million. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
FTSE Non-U.S. World Government Bond Index
A market-weighted index designed to reflect the performance of the government fixed-income markets of 20 non-U.S. developed countries as of January 1999. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees. It is not possible to invest directly in an index.
Full Faith and Credit
An unconditional commitment to pay interest and principal on debt securities, usually securities issued or guaranteed by the U. S. Treasury and tax-exempt municipal general obligation bonds.
An abbreviation of a fund's name, commonly used in newspaper listings.
Fund Net Assets
The total value of a fund's securities, cash, and other holdings, minus any outstanding debts.
The number assigned by Nuveen to each of its mutual fund portfolios.
The study of a company's business and financial condition to help forecast future movements in its stock price. Analysts consider the company's past record of earnings and sales as well as company assets, management, and markets to predict trends that could affect a company's stock. Also known as bottom-up analysis.
Preferred stock issued by Nuveen taxable closed-end fund. The stock is rated AAA, and dividends are paid weekly; the dividend rate is reset every 7 or 28 days.
See futures contracts
Exchange-traded, standardized agreements to buy or sell specific amounts of financial instruments or physical commodities for an agreed upon price at a specified time in the future.