About NBPAX
Nuveen Pennsylvania Municipal Bond Fund Class I is a fixed income mutual fund focused on investing primarily in investment-grade municipal bonds issued within Pennsylvania. Its primary objective is to deliver a high level of current interest income that is exempt from regular federal, Pennsylvania state, and, in some cases, local income taxes. This fund seeks to preserve capital while offering tax-advantaged income to its investors. With institutional share class features, it has a higher minimum initial investment and is structured to maintain cost efficiency through relatively low expense ratios. The portfolio primarily comprises municipal securities, but may allocate up to 20% of its net assets to below investment grade, or "high yield," municipal bonds, adding diversification and yield potential. Its holdings span various sectors within Pennsylvania, including government, education, healthcare, and infrastructure projects, reflecting its role in supporting local development and essential services. This fund serves investors seeking tax-exempt income within the municipal bond space, particularly those subject to Pennsylvania taxes, and plays a key role in the broader municipal bond market by channeling capital to public projects within the state.
Fund Family Nuveen
Category Muni Pennsylvania
Performance Rating Average
Risk Rating Above Average
Stock Exchange Nasdaq
Ticker Symbol NBPAX
Share Class - Class I
Index S&P Municipal Bond TR USD
NBPAX had a total return of -1.93% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.72%.
