Ohio Municipal Bond Fund: Nuveen's Flagship Investment

Nuveen is a financial services company that offers a range of investment funds, including municipal bond funds. Municipal bonds are debt securities issued by states, cities, or other governmental entities to finance public projects. The Nuveen Ohio Municipal Bond Fund is one such fund that seeks to provide investors with a high level of current interest income exempt from federal, state, and local income taxes. The fund primarily invests in investment-grade municipal bonds and has a goal of preserving capital. With a focus on Ohio, the fund's top holdings include Buckeye Ohio TOB Settlement, Franklin County Ohio Sales Tax Revenue, and Ohio State Water Development Authority Water Pollution Control Revenue.

Nuveen Ohio Municipal Bond Fund Class I

The Nuveen Ohio Municipal Bond Fund Class I is an open-ended investment company that seeks to provide investors with a high level of current interest income exempt from regular federal, Ohio state, and local income taxes. The fund primarily invests in investment-grade municipal bonds, with a focus on preservation of capital.

Under normal market conditions, the fund commits at least 80% of its net assets in investment-grade municipal bonds rated BBB/Baa or higher by independent rating agencies. The remaining 20% of its net assets may be invested in below-investment-grade municipal bonds, often referred to as "high yield" or "junk" bonds.

The fund's top 5 holdings as a percentage of its portfolio include Buckeye Ohio TOB Settlement Fing Auth 5%, Franklin CNTY Ohio Sales Tax Rev 5%, Franklin CNTY Ohio Convention Facs Auth 5%, and Ohio ST WTR Dev Auth WTR Pollutn CTL Rev 5%. The total percentage of the portfolio dedicated to these top 5 holdings is 12.85%.

The Nuveen Ohio Municipal Bond Fund Class I is designed to offer investors monthly, tax-free income from an investment-grade state municipal portfolio, along with attractive after-tax returns and potential for capital preservation.

Nuveen Ohio Municipal Bond Fund Class A

The Nuveen Ohio Municipal Bond Fund Class A is an investment fund that seeks to provide investors with a high level of current interest income exempt from regular federal, Ohio state, and local income taxes. The fund primarily invests in investment-grade municipal bonds, with the goal of preserving capital. It is designed to offer attractive after-tax returns and potential for capital preservation over time.

Under typical market conditions, the fund commits at least 80% of its net assets in investment-grade municipal bonds rated BBB/Baa or higher by independent rating agencies. The remaining 20% of its net assets can be invested in below-investment-grade municipal bonds, often referred to as "high yield" or "junk" bonds.

The fund's performance has varied over the years, with a return of 1.00% in the past year, -2.34% over three years, 1.00% over five years, and 2.33% in the last decade. It has an expense ratio of 0.57%, which is considered below average for funds in the same category.

The Nuveen Ohio Municipal Bond Fund carries a high-risk rating from Morningstar and is subject to various risks, including market risk, credit risk, interest rate risk, and state concentration risk, among others.

Overall, the Nuveen Ohio Municipal Bond Fund Class A offers investors an opportunity to generate tax-exempt interest income while investing in investment-grade municipal bonds, with a focus on capital preservation.

Nuveen Ohio Municipal Bond Fund Class C

The Nuveen Ohio Municipal Bond Fund Class C (FAFMX) is a mutual fund that seeks to provide investors with a high level of current interest income exempt from federal, Ohio state, and local income taxes, while also preserving capital. The fund primarily invests in investment-grade municipal bonds, with a focus on preservation of capital and the potential for attractive after-tax returns.

Under normal market conditions, the fund commits at least 80% of its net assets to investment-grade municipal bonds rated BBB/Baa or higher by independent rating agencies. The remaining 20% of its net assets can be invested in below-investment-grade municipal bonds, also known as "high yield" or "junk" bonds.

The fund offers monthly, tax-free income and has a 1% CDSC for redemptions within one year for Class C shares. The fund's performance has varied over the past decade, with a return of 1.00% in the last year, -2.34% over three years, 1.00% over five years, and 2.33% over ten years.

The Nuveen Ohio Municipal Bond Fund carries a relatively low expense ratio of 0.57%, which is below the category average of 0.86%. However, it is considered high-risk according to Morningstar's volatility measurements.

Overall, the Nuveen Ohio Municipal Bond Fund Class C offers a tax-efficient investment opportunity for those seeking a balance between income and capital preservation, particularly for those in Ohio due to the tax advantages.

Nuveen Ohio Municipal Bond Fund's performance

The Nuveen Ohio Municipal Bond Fund seeks to provide investors with a high level of current interest income exempt from federal, Ohio state, and local income taxes. The fund primarily invests in investment-grade municipal bonds and aims to preserve capital.

As of September 2024, the fund's performance over the past year was 1.00%, -2.34% over three years, 1.00% over five years, and 2.33% over the past decade. The fund's expense ratio is 0.57%, which is below the category average of 0.86%.

According to Morningstar, the fund's risk is high compared to other funds in the same category. The fund's volatility measurements reflect the uncertainty or risk of changes in the value of its securities.

The fund's top five holdings as a percentage of its portfolio are:

• Buckeye Ohio TOB Settlement Fing Auth 5%
• Franklin Cnty Ohio Sales Tax Rev 5%
• Franklin Cnty Ohio Convention Facs Auth 5%
• Ohio St Wtr Dev Auth Wtr Pollutn CTL Rev 5%

These top five holdings make up 12.85% of the fund's portfolio.

Nuveen Ohio Municipal Bond Fund's investment strategy

Under normal market conditions, the fund commits at least 80% of its net assets to investment-grade municipal bonds rated BBB/Baa or higher by independent rating agencies. If unrated, the fund's sub-adviser assesses the bond to be of comparable quality. Up to 20% of its net assets can be invested in below-investment-grade municipal bonds, often called "high yield" or "junk" bonds.

The fund offers monthly, tax-free income and attractive after-tax returns. It focuses on preservation of capital, aiming to provide a high level of current interest income. The fund's performance has varied over time, with returns of 1.00% over one year, -2.34% over three years, 1.00% over five years, and 2.33% over ten years.

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