Nuveen MI Municipal Bond I (NMMIX)
| Fund Assets | 188.68M |
| Expense Ratio | 0.65% |
| Min. Investment | $100,000 |
| Turnover | 38.00% |
| Dividend (ttm) | 0.34 |
| Dividend Yield | 3.38% |
| Dividend Growth | 5.83% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 10.11 |
| YTD Return | -2.27% |
| 1-Year Return | -2.45% |
| 5-Year Return | -3.85% |
| 52-Week Low | 9.99 |
| 52-Week High | 10.78 |
| Beta (5Y) | n/a |
| Holdings | 105 |
| Inception Date | Feb 3, 1997 |
About NMMIX
Nuveen Michigan Municipal Bond Fund Class I is an institutional mutual fund specializing in investment-grade municipal bonds issued within the state of Michigan. Its primary function is to generate a high level of current interest income for investors, with distributions that are generally exempt from regular federal and Michigan state income taxes, aiming to provide tax-advantaged returns while preserving capital. The fund invests mainly in municipal securities, such as general obligation and revenue bonds, that support a range of public projects including infrastructure, education, and utilities throughout Michigan. Featuring a medium to extensive interest rate sensitivity and predominantly investment-grade credit quality, the fund’s portfolio is diversified across various Michigan issuers, concentrating a significant portion in its top holdings to address local public financing needs. As an institutional share class, it has a relatively low expense ratio and is designed for large investors, such as organizations and employee benefit plans. Nuveen Michigan Municipal Bond Fund Class I serves an important role for investors seeking stable, tax-exempt income through exposure to Michigan’s municipal bond market while contributing to the state’s public development projects.
Performance
NMMIX had a total return of -2.45% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.90%.
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 | $0.0305 | Sep 2, 2025 |
| Jul 31, 2025 | $0.0295 | Aug 1, 2025 |
| Jun 30, 2025 | $0.0295 | Jul 1, 2025 |
| May 30, 2025 | $0.0295 | Jun 2, 2025 |
| Apr 30, 2025 | $0.0285 | May 1, 2025 |
| Mar 31, 2025 | $0.0285 | Apr 1, 2025 |