In plain terms — Nuveen Multi-Market Income Fund
Shares currently cost about 8.8% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 9.1% discount, so today's level is not high for this fund (Z-score +0.4). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 6.2% a year of the share price (5.7% 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 $1.10 of assets — a ReinvestCapture™ rate of 6.8%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 2.9% 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 | -9.67% | 0.64% | +1.88 | 62 |
| 6 months | -10.00% | 0.76% | +2.03 | 117 |
| 1 year | -9.05% | 1.46% | +0.41 | 223 |
| 3 years | -7.30% | — | — | — |
| 5 years | -7.41% | — | — | — |
Current contemporaneous premium/discount -8.46% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -11.85% to -5.26%. 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 | -0.54% | -4.30% | -7.95% | -12.30% | +0.12% | -6.01% |
| Market price total return | -0.02% | -2.84% | -3.76% | -7.02% | +5.78% | -0.63% |
| NAV return | -2.07% | -4.80% | -7.10% | -7.93% | +0.49% | -4.52% |
| NAV total return | -1.61% | -3.49% | -3.29% | -2.89% | +5.75% | +0.52% |
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 Multi-Market Income Fund is a closed-end mutual fund concentrating on fixed income investments, established by Nuveen Investments, Inc. Its oversight is a joint effort between Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates its capital within the fixed income markets of the United States, with a strategy involving the acquisition of securities from companies operating across a variety of sectors. A core component of its portfolio consists of investment-grade debt instruments, which include U.S. agency and privately issued mortgage-backed securities, corporate debt, and asset-backed securities. Historically, the fund was known as American Income Fund, Inc. It commenced operations on December 30, 1988, and maintains its domicile in the United States.
CEF Explorer research page for Nuveen Multi-Market 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.