In plain terms — Nuveen Global High Income Fund
Shares currently cost about 13.5% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 8.2% discount, so today's level is unusually wide for this fund (Z-score -3.0). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 10.9% a year of the share price (9.4% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.16 of assets — a ReinvestCapture™ rate of 12.6%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 3.2% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -9.56% | 1.69% | -1.81 | 62 |
| 6 months | -8.50% | 1.70% | -2.42 | 118 |
| 1 year | -8.24% | 1.46% | -3.01 | 224 |
| 3 years | -6.80% | — | — | — |
| 5 years | -7.88% | — | — | — |
Current contemporaneous premium/discount -12.62% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -12.62% to -5.81%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -6.97% | -10.07% | -10.07% | -13.70% | +1.76% | -6.85% |
| Market price total return | -6.17% | -7.79% | -3.18% | -4.80% | +11.88% | +2.93% |
| NAV return | -2.59% | -4.22% | -4.57% | -5.73% | +2.34% | -4.75% |
| NAV total return | -1.84% | -2.01% | +2.16% | +3.19% | +11.83% | +4.42% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Nuveen Global High Income Fund (JGH) is a closed-end investment fund focused on fixed income, initiated by Nuveen Investments, Inc. It is jointly managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. This fund allocates capital to debt markets around the world, with a primary focus on U.S. and non-U.S. high-yield bonds from both established and developing economies. Its portfolio also includes corporate debt, U.S. and international government debt instruments, mortgage-backed and asset-backed securities, preferred stock, secured and unsecured loans, and convertible debt. The fund specifically targets sub-investment grade securities, typically rated BB/Ba or lower. Employing a diverse global high-income strategy, it builds its holdings by combining various high-yield and income-generating assets from different global regions, across the capital structure, and throughout the credit spectrum. Its performance is measured against the Barclays Global High Yield Index. Established on August 5, 2014, the fund is based in the United States.
CEF Explorer research page for Nuveen Global High Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.