Nuveen AMT-Free Municipal Value FundFind Ratings Reports
- Last Ratings Update:08/31/2018
- Price as of 08/31/2018 :$15.22
- Net Assets:$256.28 Million
- Peer Rank:94 of 104
- Investment Rating:D
We rate Nuveen AMT-Free Municipal Value at D. Negative factors that influence this rating include a well below average total return. The fund invests approximately 92% of its assets in bonds and may be considered for investors seeking a Municipal - National strategy.
POSITIVES AND RISKS
Total return ranks well below peers over the last three years. The Nuveen AMT-Free Municipal Value has returned an annual rate of 5.28% since inception. More recently, the fund has generated a total return of 5.51% in the last five years, 1.91% in the last three years, and -6.67% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 55% of them. It has also outpaced 24% of its competitors on a three year basis and 13% of them over the last year for the period ending 8/31/2018. On a year to date basis, NUW has returned -9.17%.
Downside risk has been below average. NUW has a draw down risk of -20.52%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 9.9%. This fund has had a low level of volatility in its monthly performance over the last 36 months. As of 8/31/2018, the fund was trading at a price of $15.22, which is 1.5% below its 52-week high of $15.45 and 0.5% above its 52-week low of $15.15.
Low expense ratio helps performance. On total assets of $256.28 million, NUW maintains a low expense ratio compared to its Municipal - National peers of just 0.81% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As NUW is a closed end fund, it has no front end or back end load.
Manager lacks tenure and performance record lags managerial peers. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The Nuveen AMT-Free Municipal Value has been managed by Daniel J. Close for only 2 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 28% of other fund managers.