NEW YORK, Jan. 22, 2025 -- Nuveen, the investment manager of TIAA, is expanding access to its flagship municipal investment platform with the launch of two actively-managed exchange-traded funds (ETFs).
These launches underscore the firm's commitment to delivering its renowned expertise in muni credit analysis, selection, and active management across the spectrum of product wrappers to meet the portfolio construction goals of investors across wealth and institutional audiences. With nearly $200 billion in assets under management (AUM), Nuveen's municipals platform provides access to the asset class via mutual funds, closed-end funds, ETFs, separately managed accounts, model portfolios and an interval fund, providing investors the flexibility to invest in the vehicle that best meets their needs.
Today's universe of municipal bond issuers extends to more than 80,000 borrowers and 1.5 million individual securities. Nuveen's award-winning research and investment management team is dedicated to helping investors navigate the complexities of the asset class by identifying attractive opportunities and capitalizing on market inefficiencies, seeking to deliver income and long-term outperformance.
The two new ETFs seek to provide tax-exempt income to meet investor demand for unlevered high yield and investment grade muni strategies.
About the Funds:
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Name and Ticker: | Nuveen High Yield Municipal Income ETF (NYSE: NHYM) |
Investment Objective: | Primarily invests in high yield municipal bonds with opportunistic exposure to investment grade municipal securities. Seeks to maximize total return through income exempt from regular federal income taxes and capital appreciation. |
Reference Benchmark: | S&P Municipal Yield Index |
Portfolio Managers: | Daniel Close, CFA; Stephen Candido, CFA; Steven Hlavin; Michael McElduff; Nicholas Mueller |
Name and Ticker: | Nuveen Municipal Income ETF (NYSE: NUMI) |
Investment Objective: | Primarily allocates to longer duration municipal bonds, mainly in investment grade securities with opportunistic exposure to below investment grade securities. Seeks to maximize total return through income exempt from regular federal income taxes and capital appreciation. |
Reference Benchmark: | S&P Municipal Bond Index |
Portfolio Managers: | Timothy Ryan, CFA; Paul Brennan, CFA; Michael McElduff; Nicholas Mueller |
"The NHYM and NUMI strategies bring two of our highest conviction active strategies to market in the wrapper that is increasingly in-demand by muni investors," said Daniel Close, Head of Municipals at Nuveen. "NUMI directly answers the significant appetite in the market for longer duration allocations and NHYM has been created for those investors seeking additional yield."
Understanding underlying fundamental credit risk within the muni space is critically important to providing consistent tax-exempt income to investors. These products will deliver the full scale of Nuveen's muni platform, highlighting the team's ability to tactfully adjust exposure to sectors such as healthcare, higher education, and infrastructure projects while uncovering opportunity through bottom-up credit analysis to identify specific projects with additional return potential.
About Nuveen's Municipal Platform
Nuveen is an industry leader ranking among the largest municipal fund managers, with nearly 80 investment professionals averaging 22 years of experience. The firm's specialized municipal credit research team is among the largest and most experienced in the asset class and was recently named the #1 team in the 2024 Smith's All-Star Municipal Analysts Awards1.
About Nuveen's ETF Suite
The addition of these two active strategies brings Nuveen's ETF lineup to a total of 25 funds with $10.2 billion in AUM2. The suite provides investors access to equities, fixed income and REITs and includes 11 actively managed ETFs and 14 index-tracking ETFs.
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