In plain terms — Nuveen Virginia Quality 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 1.8% discount, so today's level is unusually wide for this fund (Z-score -2.2). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 7.8% 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 $1.07 of assets — a ReinvestCapture™ rate of 8.3%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 6.8% over the past year including distributions (NAV total return).
Annual costs are 3.70% 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 | -4.23% | 1.99% | -1.25 | 62 |
| 6 months | -2.09% | 2.70% | -1.71 | 118 |
| 1 year | -1.79% | 2.26% | -2.18 | 224 |
| 3 years | -3.39% | — | — | — |
| 5 years | -3.31% | — | — | — |
Current contemporaneous premium/discount -6.72% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -7.73% to +1.58%. 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 | -5.36% | -18.18% | -15.45% | -18.96% | -0.28% | -10.57% |
| Market price total return | -4.76% | -16.75% | -11.02% | -13.24% | +6.24% | -5.57% |
| NAV return | -4.08% | -11.62% | -12.08% | -12.91% | -3.67% | -7.78% |
| NAV total return | -3.51% | -10.12% | -7.52% | -6.85% | +2.51% | -2.77% |
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 Virginia Quality Municipal Income Fund, established by Nuveen Investments, Inc., operates as a closed-end investment vehicle concentrating on fixed-income securities. Its management responsibilities are jointly overseen by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund primarily allocates its capital to the fixed-income markets within Virginia. A key focus is on acquiring municipal securities that hold an investment-grade rating of Baa/BBB or superior. A significant benefit of these holdings is their ability to generate income that is exempt from both federal and Virginia state income taxation. To construct its portfolio, the fund utilizes a rigorous investment strategy that combines fundamental analysis with a bottom-up security selection process. Its performance is measured against two relevant benchmarks: the S&P National Municipal Bond Index and the S&P Virginia Municipal Bond Index. Initially known as the Nuveen Virginia Premium Income Municipal Fund, this fund commenced operations on January 12, 1993, and is domiciled in the United States.
CEF Explorer research page for Nuveen Virginia 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.