In plain terms — Nuveen Minnesota Quality Municipal Income Fund
Shares currently cost about 2.5% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 0.5% premium, so today's level is somewhat wide for this fund (Z-score -1.4). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 7.5% a year of the share price (7.3% 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 $1.03 of assets — a ReinvestCapture™ rate of 7.7%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 7.4% over the past year including distributions (NAV total return).
Annual costs are 3.66% of assets.
Guided view hides the statistical panels. Switch to Expert view in the grey bar to see them. Nothing here is advice.
Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -1.35% | 3.54% | -0.55 | 62 |
| 6 months | +0.69% | 3.42% | -1.16 | 118 |
| 1 year | +0.45% | 2.68% | -1.39 | 224 |
| 3 years | -3.20% | — | — | — |
| 5 years | -2.85% | — | — | — |
Current contemporaneous premium/discount -3.28% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -5.57% to +6.92%. 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 | -4.46% | -17.24% | -13.99% | -15.44% | +1.32% | -8.66% |
| Market price total return | -3.87% | -15.84% | -9.63% | -9.66% | +7.99% | -3.55% |
| NAV return | -4.16% | -11.96% | -13.07% | -13.36% | -3.64% | -7.60% |
| NAV total return | -3.59% | -10.48% | -8.61% | -7.39% | +2.57% | -2.55% |
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 Minnesota Quality Municipal Income Fund (NMS) operates as a closed-end mutual fund, focusing on fixed income assets, initially launched by Nuveen Investments, Inc. Its management responsibilities are jointly handled by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates its capital within the fixed income markets across the United States. A core part of its strategy involves investing in investment-grade municipal bonds that provide exemptions from regular federal and Minnesota personal income taxes. To ensure quality, the fund targets securities with a credit rating of at least Baa/BBB or better, as assessed by S&P, Moody's, or Fitch. This fund, formerly recognized as the Nuveen Minnesota Municipal Income Fund, was established on June 25, 1993, and is domiciled in the United States.
CEF Explorer research page for Nuveen Minnesota Quality 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.