In plain terms — Nuveen Credit Strategies Income Fund
Shares currently cost about 13.9% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 10.2% discount, so today's level is somewhat wide for this fund (Z-score -1.9). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 13.2% a year of the share price (11.3% 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 15.3%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 4.4% over the past year including distributions (NAV total return).
Annual costs are 4.45% of assets.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -11.04% | 0.72% | -2.41 | 61 |
| 6 months | -10.93% | 0.63% | -2.93 | 117 |
| 1 year | -10.21% | 1.33% | -1.94 | 222 |
| 3 years | -7.23% | — | — | — |
| 5 years | -8.82% | — | — | — |
Current contemporaneous premium/discount -12.79% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -13.26% to -6.18%. 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 | -3.83% | -6.03% | -9.96% | -12.06% | -3.05% | -7.26% |
| Market price total return | -2.81% | -3.05% | -1.13% | -0.32% | +8.92% | +3.43% |
| NAV return | -1.87% | -2.78% | -5.76% | -6.76% | -3.16% | -5.52% |
| NAV total return | -0.95% | -0.05% | +2.50% | +4.38% | +7.92% | +4.37% |
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 Credit Strategies Income Fund, a closed-end balanced mutual fund, was established by Nuveen Investments, Inc. and is actively managed by Symphony Asset Management, LLC. This U.S.-domiciled fund, formed on June 25, 2003, and previously known as Nuveen Multi-Strategy Income & Growth Fund 2, strategically allocates capital within the fixed income and public equity markets of the United States. Its investment mandate specifically targets senior secured and second-lien loans, preferred securities, convertible securities, and other related instruments, with a primary objective to acquire investment-grade securities. Portfolio construction is grounded in a fundamental analysis approach, emphasizing bottom-up security selection. This analytical framework thoroughly considers elements such as prevailing interest rate levels, the evolving conditions and trends within both bond and equity markets, comparative valuations of preferred, convertible, and other debt instruments, alongside broader economic and market indicators like the overall economic outlook and inflation. The fund incorporates leverage into its operations and measures its performance against the Barclays Capital U.S. Aggregate Bond Index.
CEF Explorer research page for Nuveen Credit Strategies 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.