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On the lookout for a Muni - Bonds fund? Starting with Nuveen Intermediate Duration Municipals I (NUVBX - Free Report) is one possibility. NUVBX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes NUVBX as Muni - Bonds, which is a segment packed with options. Muni - Bonds funds invest in debt securities issued by states or local municipalities. These are generally used to finance construction of infrastructure, pay for schools, or other government functions. Some are backed by taxes (revenue bonds), while others are " general obligation " and may not be backed by a defined source. Investors usually appreciate the tax benefits that come with many municipal bonds, which are especially impressive for those in high tax brackets.
History of Fund/Manager
Nuveen is based in Chicago, IL, and is the manager of NUVBX. Nuveen Intermediate Duration Municipals I made its debut in November of 1976, and since then, NUVBX has accumulated about $6.85 billion in assets, per the most up-to-date date available. Paul L. Brennan is the fund's current manager and has held that role since December of 2007.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 1.57%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 2.35%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of NUVBX over the past three years is 6.01% compared to the category average of 11.18%. Over the past 5 years, the standard deviation of the fund is 5.41% compared to the category average of 10.8%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.56, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, NUVBX has a positive alpha of 0.17, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, NUVBX has 47% in high quality bonds rated at least 'AA' or higher, while 38.9% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of A, and focuses on high quality securities.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, NUVBX is a no load fund. It has an expense ratio of 0.44% compared to the category average of 0.84%. Looking at the fund from a cost perspective, NUVBX is actually cheaper than its peers.
This fund requires a minimum initial investment of $100,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Nuveen Intermediate Duration Municipals I ( NUVBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, better downside risk, and lower fees, Nuveen Intermediate Duration Municipals I ( NUVBX ) looks like a good potential choice for investors right now.
Want even more information about NUVBX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.
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Is NUVBX a Strong Bond Fund Right Now?
On the lookout for a Muni - Bonds fund? Starting with Nuveen Intermediate Duration Municipals I (NUVBX - Free Report) is one possibility. NUVBX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
Zacks categorizes NUVBX as Muni - Bonds, which is a segment packed with options. Muni - Bonds funds invest in debt securities issued by states or local municipalities. These are generally used to finance construction of infrastructure, pay for schools, or other government functions. Some are backed by taxes (revenue bonds), while others are " general obligation " and may not be backed by a defined source. Investors usually appreciate the tax benefits that come with many municipal bonds, which are especially impressive for those in high tax brackets.
History of Fund/Manager
Nuveen is based in Chicago, IL, and is the manager of NUVBX. Nuveen Intermediate Duration Municipals I made its debut in November of 1976, and since then, NUVBX has accumulated about $6.85 billion in assets, per the most up-to-date date available. Paul L. Brennan is the fund's current manager and has held that role since December of 2007.
Performance
Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 1.57%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 2.35%, which places it in the middle third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of NUVBX over the past three years is 6.01% compared to the category average of 11.18%. Over the past 5 years, the standard deviation of the fund is 5.41% compared to the category average of 10.8%. This makes the fund less volatile than its peers over the past half-decade.
This fund has a beta of 0.56, meaning that it is less volatile than a broad market index of fixed income securities. Taking this into account, NUVBX has a positive alpha of 0.17, which measures performance on a risk-adjusted basis.
Ratings
Investors should also consider a bond's rating, which is a grade ( 'AAA' to 'D' ) given to a bond that indicates its credit quality. With this letter scale in mind, NUVBX has 47% in high quality bonds rated at least 'AA' or higher, while 38.9% are of medium quality, with ratings of 'A' to 'BBB'. The fund has an average quality of A, and focuses on high quality securities.
Expenses
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, NUVBX is a no load fund. It has an expense ratio of 0.44% compared to the category average of 0.84%. Looking at the fund from a cost perspective, NUVBX is actually cheaper than its peers.
This fund requires a minimum initial investment of $100,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Nuveen Intermediate Duration Municipals I ( NUVBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, better downside risk, and lower fees, Nuveen Intermediate Duration Municipals I ( NUVBX ) looks like a good potential choice for investors right now.
Want even more information about NUVBX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.