Nuveen AMT-Free Municipal Value Fund
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$13.67
- Net Assets:$254.96 Million
- NAV:$15.37
- Premium-11.06%
- Peer Rank:45 of 116
- Investment Rating:C-
- Performance:D
- RiskB
We rate Nuveen AMT-Free Municipal Value at C-. Positive factors that influence this rating include a low price volatility and low expense structure. The fund invests approximately 92% of its assets in bonds and may be considered for investors seeking a Municipal - National strategy.
Total return ranks below peers over the last three years. The Nuveen AMT-Free Municipal Value has returned an annual rate of 3.96% since inception. More recently, the fund has generated a total return of 0.30% in the last five years, -2.00% in the last three years, and 2.71% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 16% of them. It has also outpaced 25% of its competitors on a three year basis and 24% of them over the last year for the period ending 2/29/2024. On a year to date basis, NUW has returned 0.91%.
Downside risk has been below average. NUW has a draw down risk of -27.08%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 10.2%. This fund has had a low level of volatility in its monthly performance over the last 36 months.
Low expense ratio helps performance. On total assets of $254.96 million, NUW maintains a low expense ratio compared to its Municipal - National peers of just 0.63% 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 tenure is a net positive but 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 the last 8 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 38% of other fund managers.