About NAKFX
Nuveen California Municipal Bond Fund Class C is an open-end mutual fund focused on providing a high level of current interest income that is exempt from regular federal, California state, and, at times, local income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds issued by the State of California and its subdivisions, authorities, and instrumentalities. Notably, it aims to preserve capital while serving the needs of investors—especially California residents—seeking tax-efficient income streams. The fund’s portfolio tends to have longer durations, with maturities often exceeding 12 years and an effective duration around 7.65 years as of early 2025. With a moderate risk profile, the fund allocates assets across sectors such as public infrastructure, health facilities, community housing, and transportation, impacting essential public service sectors within California. It is structured as a level-load share class, making it accessible to investors with relatively low minimum investment requirements. The fund plays an important role in the municipal bond market by channeling capital into California’s public projects while offering investors a way to manage tax liabilities through federally and state tax-exempt income.
Fund Family Nuveen
Category Muni California Long
Performance Rating Low
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol NAKFX
Share Class Class C
Index S&P Municipal Bond TR USD
NAKFX had a total return of 5.21% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.39%.
