FAFNX Performance — Nuveen Michigan Municipal Bond Fund, Class C
Data updated: 2026-09-28
FAFNX returned +0.86% year to date and +5.98% over one year to May 2026. Annualised returns are +2.20% over 3 years and −0.90% over 5 years. The fund trailed its Long-Term Municipal Bond category average: $100 invested three years ago grew to $107, against $112 for the category, and to $106 over one year, against $107. Volatility over the past three years was 5.83% a year. In the 12 months to May 2026 the fund took in a net $20.6M, and assets reached $217.01M.
FAFNX Growth of $100
What $100 invested in Nuveen Michigan Municipal Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | FAFNX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $107 |
| 3 years (Jun 2023 – May 2026) | $107 | $112 |
| 5 years (Jun 2021 – May 2026) | $96 | $103 |
| Since data start (Sep 2019 – May 2026) | $99 | $109 |
FAFNX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.86% |
| 1 year | +5.98% |
| 3 years (annualised) | +2.20% |
| 5 years (annualised) | −0.90% |
FAFNX Annual Returns
Calendar-year total returns of Nuveen Michigan Municipal Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.86% |
| 2025 | +2.25% |
| 2024 | +0.23% |
| 2023 | +4.41% |
| 2022 | −11.54% |
| 2021 | +0.56% |
| 2020 | +4.26% |
| 2019 (Sep–Dec) | −0.64% |
FAFNX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.2% | +1.4% | −2.2% | +1.2% | +0.4% | — | — | — | — | — | — | — |
| 2025 | −0.1% | +0.9% | −2.1% | −0.7% | −0.8% | +0.4% | −0.9% | +0.9% | +2.9% | +1.4% | +0.2% | +0.1% |
| 2024 | −0.1% | −0.1% | −0.2% | −1.1% | −0.1% | +1.4% | +0.7% | +0.2% | +0.9% | −1.2% | +1.4% | −1.5% |
| 2023 | +2.9% | −2.7% | +2.2% | −0.2% | −0.9% | +0.8% | +0.1% | −1.4% | −3.0% | −1.7% | +6.7% | +2.1% |
| 2022 | −2.8% | −0.4% | −3.5% | −3.0% | +1.0% | −2.4% | +2.6% | −2.9% | −3.8% | −0.9% | +4.7% | −0.4% |
| 2021 | +0.6% | −2.0% | +0.7% | +0.8% | +0.3% | +0.3% | +0.7% | −0.6% | −1.0% | −0.3% | +0.9% | +0.1% |
| 2020 | +1.7% | +1.3% | −2.9% | −1.4% | +3.3% | +0.3% | +1.3% | −0.6% | −0.1% | −0.3% | +1.5% | +0.3% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | 0.0% | +0.1% | +0.1% |
FAFNX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.83%
- 3-year Sharpe ratio: -0.39 (vs 4.5% risk-free rate)
- Best month: +6.66% (Nov 2023)
- Worst month: −3.01% (Sep 2023)
FAFNX Fund Flows
Monthly money in and out of Nuveen Michigan Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $20.6M
- 12-month gross sales (incl. reinvestments): $72.4M
- Sales ÷ redemptions: 1.40×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $24.4M | $4.8M | $19.6M |
| Apr 2026 | $2.0M | $3.7M | −$1.7M |
| Mar 2026 | $5.5M | $2.3M | $3.2M |
| Feb 2026 | $4.2M | $2.0M | $2.2M |
| Jan 2026 | $3.0M | $3.3M | −$211K |
| Dec 2025 | $2.7M | $4.5M | −$1.8M |
| Nov 2025 | $4.2M | $4.7M | −$518K |
| Oct 2025 | $4.2M | $3.9M | $281K |
| Sep 2025 | $6.8M | $4.7M | $2.1M |
| Aug 2025 | $3.7M | $4.8M | −$1.1M |
| Jul 2025 | $5.2M | $7.4M | −$2.2M |
| Jun 2025 | $6.4M | $5.5M | $953K |
FAFNX Assets Under Management
Net assets of Nuveen Michigan Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $217.01M |
| 2026-02-28 | $198.54M |
| 2025-11-30 | $196.41M |
| 2025-08-31 | $187.29M |
| 2025-05-31 | $190.27M |
| 2025-02-28 | $209.55M |
| 2024-11-30 | $238.08M |
| 2024-08-31 | $220.01M |
| 2024-05-31 | $221.76M |
| 2024-02-29 | $227.41M |
| 2023-11-30 | $225.69M |
| 2023-08-31 | $286.46M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.