Nuveen Kentucky Municipal Bond Fund

C000001670 Fund Overview

Nuveen Kentucky Municipal Bond Fund is a US mutual fund managed by Nuveen Multistate Trust IV, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Nuveen Multistate Trust IV
• Category: Long Municipal - National Bond
• Assets under management: $219.63M
• 1-year return: 5.3%
• SEC CIK: 0001018973
• SEC series ID: S000000597
• Share class ID: C000001670

C000001670 Investment Objective and Strategy

Nuveen Kentucky Municipal Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Nuveen Multistate Trust IV.

Investment objective

The investment objective of the Fund is to provide you with as high a level of current interest income exempt from regular federal, Kentucky state and, in some cases, Kentucky local income taxes as is consistent with preservation of capital.

Principal investment strategy

Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal and Kentucky personal income tax. These municipal bonds include obligations issued by the State of Kentucky and its subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories (such as Puerto Rico, the U.S. Virgin Islands and Guam) that pay interest that is exempt from regular federal and Kentucky personal income tax. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax. The Fund will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity in excess of 10 years.

Under normal market conditions, the Fund invests at least 80% of its net assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase by at least one independent rating agency or, if unrated, judged by the Funds sub-adviser to be of comparable quality. The Fund may invest up to 20% of its net assets in below investment grade municipal bonds, commonly referred to as high yield or junk bonds. The Fund may invest in all types of municipal bonds, including general obligation bonds, revenue bonds and participation interests in municipal leases. The Fund may invest in zero coupon bonds, which are issued at substantial discounts from their value at maturity and pay no cash income to their holders until they mature. The Fund may invest up to 15% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (inverse floaters).

Inverse floaters are derivative securities that provide leveraged exposure to underlying municipal bonds. The Funds investments in inverse floaters are designed to increase the Funds income and returns through this leveraged exposure. These investments are speculative, however, and also create the possibility that income and returns will be diminished. The Fund may utilize the following derivatives: futures contracts, swap contracts, options on futures contracts and options on swap contracts. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, and to manage the effective maturity or duration of securities in the Funds portfolio. The Funds sub-adviser uses a value-oriented strategy and looks for higher-yielding and undervalued long-term municipal bonds that offer above-average total return.

The sub-adviser may choose to sell municipal bonds with deteriorating credit or limited upside potential compared to other available bonds.

C000001670 Holdings

Top 10 holdings of Nuveen Kentucky Municipal Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000001670 holdings

C000001670 Portfolio Allocation

Asset-class allocation of Nuveen Kentucky Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000001670 Performance

Total returns for C000001670 (as of 2026-10-01), from SEC filings.

C000001670 Risk Information

Risk metrics for C000001670, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 2.4%

C000001670 Costs and Fees

C000001670 costs about $148 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.48%
• Gross expense ratio: 1.48%
• Portfolio turnover: 13%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000001670 Cashflows

Over the 12 months to 2026-05, Nuveen Kentucky Municipal Bond Fund had net outflows of $2.38M, from monthly SEC N-PORT filings.

C000001670 Debt Constituents

Largest debt holdings of Nuveen Kentucky Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000001670 Prospectus and SEC Filings

Official Nuveen Kentucky Municipal Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-09-28
• Prospectus (485BPOS) — filed 2025-09-26
• Prospectus (485BPOS) — filed 2024-09-27
• Portfolio holdings (N-PORT) — filed 2026-07-24
• Portfolio holdings (N-PORT) — filed 2026-04-27
• Portfolio holdings (N-PORT) — filed 2026-01-28
• Annual census (N-CEN) — filed 2026-08-13
• Annual census (N-CEN) — filed 2025-08-13

Related Funds

Other Long Municipal - National Bond funds tracked on ABC INVEST:

• Vanguard Intermediate-Term Tax-Exempt Fund (VWITX)
• iShares National Muni Bond ETF (MUB)
• Vanguard Limited-Term Tax-Exempt Fund (VMLTX)
• Tax Exempt Bond Fund Of America (AFTEX)
• Bridge Builder Municipal Bond Fund (BBMUX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.