Nuveen Adds Municipal Bond Strategies To Active ETF Suite
Nuveen announced the launch of two new actively-managed municipal bond ETFs, expanding its municipal investment platform which manages nearly $200 billion in assets. The new offerings include the Nuveen High Yield Municipal Income ETF (NHYM) and Nuveen Municipal Income ETF (NUMI).
NHYM focuses on high-yield municipal bonds with some investment-grade exposure, while NUMI primarily invests in longer-duration investment-grade municipal securities. Both ETFs aim to provide tax-exempt income and capital appreciation. The launches address growing market demand for unlevered high yield and investment grade muni strategies, leveraging Nuveen's expertise in analyzing and selecting from over 80,000 borrowers and 1.5 million individual securities in the municipal bond universe.
Nuveen ha annunciato il lancio di due nuovi ETF obbligazionari municipali gestiti attivamente, ampliando la sua piattaforma di investimento municipale che gestisce quasi $200 miliardi in attivi. Le nuove offerte includono il Nuveen High Yield Municipal Income ETF (NHYM) e il Nuveen Municipal Income ETF (NUMI).
NHYM si concentra su obbligazioni municipali ad alto rendimento con una certa esposizione ad obbligazioni di qualità investibile, mentre NUMI investe principalmente in titoli municipali di lungo termine di qualità investibile. Entrambi gli ETF mirano a fornire reddito esente da tasse e apprezzamento del capitale. I lanci rispondono alla crescente domanda di strategie municipali ad alto rendimento e di qualità investibile, sfruttando l'esperienza di Nuveen nell'analisi e nella selezione di oltre 80.000 mutuatari e 1,5 milioni di titoli individuali nell'universo delle obbligazioni municipali.
Nuveen anunció el lanzamiento de dos nuevos ETFs de bonos municipales gestionados activamente, ampliando su plataforma de inversión municipal que gestiona casi $200 mil millones en activos. Las nuevas ofertas incluyen el Nuveen High Yield Municipal Income ETF (NHYM) y el Nuveen Municipal Income ETF (NUMI).
NHYM se centra en bonos municipales de alto rendimiento con cierta exposición a bonos de grado de inversión, mientras que NUMI invierte principalmente en valores municipales de largo plazo de grado de inversión. Ambos ETFs tienen como objetivo proporcionar ingresos exentos de impuestos y apreciación del capital. Los lanzamientos abordan la creciente demanda del mercado por estrategias municipales de alto rendimiento y grado de inversión, aprovechando la experiencia de Nuveen en el análisis y la selección de más de 80,000 prestatarios y 1.5 millones de valores individuales en el universo de bonos municipales.
누빈은 거의 $2000억 자산을 관리하는 지방채 투자 플랫폼을 확대하며, 두 개의 새로운 적극적으로 관리되는 지방채 ETF를 출시한다고 발표했습니다. 신규 상품으로는 Nuveen High Yield Municipal Income ETF (NHYM)과 Nuveen Municipal Income ETF (NUMI)가 포함됩니다.
NHYM은 고수익 지방채에 중점을 두고 일부 투자등급 채권에도 투자하며, NUMI는 주로 장기 투자등급 지방 증권에 투자합니다. 두 ETF 모두 세금 면제 수익과 자본 성장 제공을 목표로 합니다. 이번 출시는 증가하는 시장 수요를 반영하여 레버리지 없는 고수익 및 투자등급 공공 채권 전략에 대응하고 있으며, 누빈의 80,000명 이상의 차입자와 150만 개 개별 증권에 대한 분석 및 선택 전문가로서의 전문성을 활용하고 있습니다.
Nuveen a annoncé le lancement de deux nouveaux ETF d'obligations municipales gérés activement, élargissant ainsi sa plateforme d'investissement municipal qui gère presque 200 milliards de dollars d'actifs. Les nouvelles offres incluent le Nuveen High Yield Municipal Income ETF (NHYM) et le Nuveen Municipal Income ETF (NUMI).
NHYM se concentre sur les obligations municipales à haut rendement avec une certaine exposition aux obligations de qualité d'investissement, tandis que NUMI investit principalement dans des titres municipaux de durée plus longue de qualité d'investissement. Les deux ETF visent à fournir des revenus exonérés d'impôts et une appréciation du capital. Ces lancements répondent à la demande croissante du marché pour des stratégies municipales à haut rendement et de qualité d'investissement, en s'appuyant sur l'expertise de Nuveen dans l'analyse et la sélection de plus de 80 000 emprunteurs et 1,5 million de titres individuels dans l'univers des obligations municipales.
Nuveen hat die Einführung von zwei neuen aktiv verwalteten kommunalen Anleihen-ETFs angekündigt, was die kommunale Investitionsplattform erweitert, die nahezu $200 Milliarden in Vermögenswerten verwaltet. Zu den neuen Angeboten gehören der Nuveen High Yield Municipal Income ETF (NHYM) und der Nuveen Municipal Income ETF (NUMI).
NHYM konzentriert sich auf Anleihen mit hoher Rendite, die eine gewisse Exposition gegenüber Anleihen mit Investment-Grade bieten, während NUMI hauptsächlich in langfristige Anleihen mit Investment-Grade investiert. Beide ETFs zielen darauf ab, steuerbefreite Einkünfte und Kapitalzuwachs zu bieten. Die neuen Produkte reagieren auf die wachsende Marktnachfrage nach unerhebelten Hochzins- und Investment-Grade-Strategien und nutzen die Expertise von Nuveen bei der Analyse und Auswahl von über 80.000 Kreditnehmern und 1,5 Millionen einzelnen Wertpapieren im Universum der kommunalen Anleihen.
- Management of substantial $200 billion AUM in municipal investments
- Expansion of product offering to meet diverse investor needs
- Access to large municipal bond universe (80,000+ borrowers, 1.5M+ securities)
- Tax-exempt income potential for investors
- None.
Insights
Nuveen's strategic launch of two actively-managed municipal bond ETFs marks a significant development in the $4 trillion municipal bond market. The timing is particularly relevant as investors increasingly seek tax-efficient income solutions in a high-rate environment.
The introduction of NHYM (high-yield) and NUMI (investment-grade) ETFs demonstrates sophisticated product differentiation. NUMI's longer duration focus positions it to potentially benefit from future rate cuts, while NHYM's high-yield strategy could attract investors seeking enhanced yields in the current market environment. The active management approach is important in the municipal market, where credit analysis and security selection are paramount given the vast universe of over 80,000 borrowers and 1.5 million individual securities.
What makes this launch particularly noteworthy is Nuveen's extensive municipal bond expertise and their $200 billion municipal platform. The active management component is important as it allows for tactical adjustments in key sectors like healthcare, higher education and infrastructure projects - areas that often present both opportunities and risks requiring specialized knowledge to navigate effectively.
For investors, these ETFs provide several advantages: 1) Professional credit analysis in a complex market 2) Daily liquidity compared to traditional mutual funds 3) Potential tax advantages through municipal bond exposure 4) Flexibility to choose between higher yield or investment-grade focus based on risk tolerance. However, investors should note that active management typically comes with higher expense ratios compared to passive alternatives.
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
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:
| |
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
Media Contact
Sally Lyden | Sally.Lyden@nuveen.com | 646.984.1913
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has
This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. We may not sell securities for a fund until the registration statement filed with the Securities and Exchange Commission is effective.
Exchange-Traded Funds (ETFs) may not be marketed or advertised as an open-end investment company or mutual fund. Shares of ETFs are bought and sold at market price as opposed to net asset value. As a result, an investor may pay more than net asset value when buying and receive less than net asset value when selling. In addition, brokerage commissions will reduce returns. Fund shares are not individually redeemable directly with the Fund, but blocks of shares may be acquired from the Fund and tendered for redemption to the Fund by certain institutional investors in Creation Units.
Investing involves risk; principal loss is possible. Fixed-income securities may be susceptible to general movements in the bond market and are subject to credit and interest rate risks.
These and other risk considerations, such as active management, high yield securities, tax, market, issuer and income volatility risks, are described in detail in the Fund's prospectus.
Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from your financial professional or Nuveen at 888.849.5734 or visit nuveen.com.
Nuveen Fund Advisors, LLC serves as the Fund's adviser and Nuveen Asset Management, LLC serves as the Fund's sub-adviser; both the adviser and sub-adviser are subsidiaries of Nuveen, LLC. Nuveen Securities, LLC, member FINRA and SIPC.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
1 Smith's All-Star Municipal Analyst Awards Program is the only program that consistently and prominently provides recognition in the municipal space. Smith's Research & Gradings announced the annual awards on 04 December 2024. The program starts with the formation of Smith's Blue Ribbon Ballot Committee of Portfolio Managers. Members of the committee nominate the nation's leading municipal analysts to the ballot. Once the ballot nominations for the 29 different categories are compiled and verified, the final ballot is sent to 1,000 institutional investors for voting. The entire process is transparent, and the voting increases the democratization of the municipal bond market. Please see https://www.smithsresearch.net/events/smiths-municipal-all-star-awards for more information. | ||||
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SOURCE Nuveen
FAQ
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