Nuveen MI Municipal Bond C (FAFNX)
| Fund Assets | 188.68M |
| Expense Ratio | 1.65% |
| Min. Investment | $3,000 |
| Turnover | 38.00% |
| Dividend (ttm) | 0.23 |
| Dividend Yield | 2.32% |
| Dividend Growth | 8.20% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 10.10 |
| YTD Return | -2.77% |
| 1-Year Return | -3.63% |
| 5-Year Return | -8.50% |
| 52-Week Low | 9.98 |
| 52-Week High | 10.77 |
| Beta (5Y) | n/a |
| Holdings | 105 |
| Inception Date | Feb 10, 2014 |
About FAFNX
Nuveen Michigan Municipal Bond Fund Class C is a mutual fund focused on generating tax-exempt income by investing predominantly in investment-grade municipal bonds issued in the state of Michigan. The fund is structured to provide investors with a high level of current interest income that is exempt from both regular federal and Michigan state income taxes, making it particularly relevant for investors seeking tax efficiency, especially Michigan residents. Its portfolio typically targets municipal securities such as general obligation and revenue bonds issued by various Michigan municipalities, supporting public projects and infrastructure within the state. This fund aims to balance current income needs with the preservation of capital by maintaining a high allocation to investment-grade credits and monitoring portfolio duration, which is generally over six years. Nuveen Michigan Municipal Bond Fund Class C plays an important role in the municipal bond market by channeling capital to Michigan’s public sector while offering investors exposure to the state’s municipal debt markets and related tax benefits.
Performance
FAFNX had a total return of -3.63% in the past year, including dividends. Since the fund's inception, the average annual return has been 0.63%.
Top 10 Holdings
31.98% of assets| Name | Symbol | Weight |
|---|---|---|
| LANSING MICH BRD WTR & LT UTIL SYS REV 5% | MI.LANUTL 5 07.01.2048 | 5.18% |
| MICHIGAN ST TRUNK LINE 4% | MI.MISTRN 4 11.15.2045 | 4.30% |
| MICHIGAN FIN AUTH REV 4% | MI.MISFIN 4 02.15.2047 | 4.19% |
| MICHIGAN FIN AUTH REV 4% | MI.MISFIN 4 12.01.2049 | 4.03% |
| MICHIGAN FIN AUTH REV 4% | MI.MISFIN 4 11.01.2055 | 3.09% |
| OAKLAND UNIV MICH REV 5% | MI.OKLHGR 5 03.01.2047 | 2.81% |
| LANSING MICH BRD WTR & LT UTIL SYS REV 5% | MI.LANUTL 5 07.01.2044 | 2.54% |
| MICHIGAN FIN AUTH REV 5% | MI.MISFIN 5 11.01.2026 | 2.16% |
| MICHIGAN ST BLDG AUTH REV 4% | MI.MISFAC 4 10.15.2046 | 1.87% |
| MICHIGAN ST BLDG AUTH REV 5% | MI.MISFAC 5 04.15.2038 | 1.81% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Aug 29, 2025 | $0.022 | Sep 2, 2025 |
| Jul 31, 2025 | $0.0205 | Aug 1, 2025 |
| Jun 30, 2025 | $0.0205 | Jul 1, 2025 |
| May 30, 2025 | $0.0205 | Jun 2, 2025 |
| Apr 30, 2025 | $0.0195 | May 1, 2025 |
| Mar 31, 2025 | $0.0195 | Apr 1, 2025 |