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Nuveen High Yield Municipal Bond Fund Class A NHMAX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | NHMAX | Replication |
|---|---|---|
| Annualized growth | -1.6% | -0.8% |
| Annualized volatility | 9.0% | 5.8% |
| Sharpe ratio | -0.13 | -0.10 |
| Maximum drawdown | 21.1% | 16.0% |
| Replication fit (R²) | 0.76 · Tracking error 4.4% | |
Replication portfolio
The published portfolio below is the investable basket used to model NHMAX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 80.5% |
| VCLT | FI · Long Corp | 17.1% |
| SPTL | FI · Long Gov | 2.4% |