Nuveen MI Municipal Bond A (FMITX)
| Fund Assets | 188.68M |
| Expense Ratio | 0.85% |
| Min. Investment | $3,000 |
| Turnover | 38.00% |
| Dividend (ttm) | 0.32 |
| Dividend Yield | 3.02% |
| Dividend Growth | 5.05% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 10.13 |
| YTD Return | -2.30% |
| 1-Year Return | -2.66% |
| 5-Year Return | -4.90% |
| 52-Week Low | 10.01 |
| 52-Week High | 10.80 |
| Beta (5Y) | n/a |
| Holdings | 105 |
| Inception Date | Jun 27, 1985 |
About FMITX
Nuveen Michigan Municipal Bond Fund Class A is an actively managed mutual fund focused on municipal bonds primarily issued within Michigan. Its principal objective is to provide investors with a high level of current interest income that is exempt from regular federal and Michigan state income taxes. The fund invests at least 80% of its assets in investment-grade municipal securities, including revenue and general obligation bonds tied to various local government and public service projects, such as utilities, transportation, and education. With a portfolio diversified across more than a hundred holdings, the fund targets consistent tax-advantaged income while aiming to preserve capital. Nuveen Michigan Municipal Bond Fund Class A serves individual investors seeking tax-efficient fixed income exposure, particularly those residing in Michigan, and plays a vital role in supporting state and municipal infrastructure financing while offering a pathway toward stable, tax-exempt returns within the broader municipal bond market.
Performance
FMITX had a total return of -2.66% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.12%.
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 | $0.029 | Sep 2, 2025 |
| Jul 31, 2025 | $0.0275 | Aug 1, 2025 |
| Jun 30, 2025 | $0.0275 | Jul 1, 2025 |
| May 30, 2025 | $0.0275 | Jun 2, 2025 |
| Apr 30, 2025 | $0.0265 | May 1, 2025 |
| Mar 31, 2025 | $0.0265 | Apr 1, 2025 |