In plain terms — Nuveen Massachusetts Quality Municipal Income Fund
Shares currently cost about 1.1% more than the value of the assets behind them (a premium).
Over the past year it has averaged a 8.7% premium, so today's level is somewhat wide for this fund (Z-score -1.2). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 7.2% 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 above the value of their assets, each dollar of reinvested distributions buys about $0.99 of assets — a ReinvestCapture™ rate of 7.1%, less than the payout rate itself. That is buying power, not a return.
The assets themselves fell 5.5% over the past year including distributions (NAV total return).
Annual costs are 3.60% 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 | +11.32% | 4.98% | -1.85 | 62 |
| 6 months | +12.73% | 4.09% | -2.60 | 118 |
| 1 year | +8.65% | 5.67% | -1.16 | 224 |
| 3 years | -0.76% | — | — | — |
| 5 years | -4.08% | — | — | — |
Current contemporaneous premium/discount +2.10% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range +0.62% to +19.21%. 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 | -10.50% | -20.91% | -11.21% | -12.98% | +2.25% | -8.31% |
| Market price total return | -10.01% | -19.72% | -7.03% | -7.36% | +8.70% | -3.53% |
| NAV return | -4.58% | -10.86% | -10.94% | -11.73% | -4.30% | -7.80% |
| NAV total return | -4.02% | -9.36% | -6.31% | -5.55% | +1.79% | -3.09% |
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 Massachusetts Quality Municipal Income Fund is a closed-end fixed income mutual fund, originally established on January 12, 1993, and domiciled in the United States. Launched by Nuveen Investments, Inc., it is jointly managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates capital to the fixed income markets within Massachusetts, United States, concentrating on undervalued municipal securities and associated investments that offer exemptions from both federal and Massachusetts income taxes. A core investment criterion is that securities must achieve an investment-grade rating of at least Baa/BBB from S&P, Moody's, or Fitch. Portfolio construction employs a rigorous fundamental analysis coupled with a bottom-up security selection methodology. Its performance is benchmarked against the Standard & Poor's (S&P) Massachusetts Municipal Bond Index and the Standard & Poor's (S&P) National Municipal Bond Index. This fund was previously known as the Nuveen Massachusetts Premium Income Municipal Fund.
CEF Explorer research page for Nuveen Massachusetts 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.