In plain terms — Nuveen Taxable Municipal Income Fund
Shares currently cost about 6.3% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 3.0% discount, so today's level is unusually wide for this fund (Z-score -2.6). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.2% a year of the share price (7.7% 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 $1.07 of assets — a ReinvestCapture™ rate of 8.8%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 3.7% over the past year including distributions (NAV total return).
Annual costs are 3.24% 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 | -3.39% | 1.40% | -1.81 | 62 |
| 6 months | -3.03% | 1.17% | -2.49 | 118 |
| 1 year | -2.97% | 1.15% | -2.58 | 224 |
| 3 years | -4.39% | — | — | — |
| 5 years | -4.09% | — | — | — |
Current contemporaneous premium/discount -5.93% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -6.21% to -0.12%. 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 | -7.64% | -10.60% | -11.96% | -14.98% | -0.80% | -9.33% |
| Market price total return | -7.03% | -8.89% | -6.94% | -8.51% | +7.25% | -2.60% |
| NAV return | -2.66% | -5.95% | -8.47% | -10.33% | -1.88% | -8.01% |
| NAV total return | -2.04% | -4.20% | -3.39% | -3.68% | +5.73% | -1.46% |
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 Taxable Municipal Income Fund, previously identified as the Nuveen Build America Bond Fund, operates as a closed-end mutual fund concentrated on fixed-income investments. This U.S.-domiciled fund, established by Nuveen Investments, Inc. on December 4, 2009, is jointly overseen by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It primarily allocates capital within the United States' fixed income markets, specifically targeting Build America Bonds, which are taxable municipal securities. A portion of its portfolio may also be directed toward derivative instruments. The fund employs a comprehensive fundamental analysis strategy, integrating both bottom-up and top-down security selection methodologies to construct its holdings. Its investment performance is measured against the Barclays Capital Build America Bond Index.
CEF Explorer research page for Nuveen Taxable Municipal 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.