FCNRX Performance — Nuveen North Carolina Municipal Bond Fund, Class I
Data updated: 2026-09-28
FCNRX returned +1.42% year to date and +7.24% over one year to May 2026. Annualised returns are +3.47% over 3 years and +0.13% over 5 years. The fund trailed its Long-Term Municipal Bond category average: $100 invested three years ago grew to $111, against $112 for the category, and to $107 over one year, against $107. Volatility over the past three years was 5.87% a year. In the 12 months to May 2026 the fund lost a net $28.6M, and assets reached $487.65M.
FCNRX Growth of $100
What $100 invested in Nuveen North Carolina 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 | FCNRX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $111 | $112 |
| 5 years (Jun 2021 – May 2026) | $101 | $103 |
| Since data start (Sep 2019 – May 2026) | $106 | $109 |
FCNRX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.42% |
| 1 year | +7.24% |
| 3 years (annualised) | +3.47% |
| 5 years (annualised) | +0.13% |
FCNRX Annual Returns
Calendar-year total returns of Nuveen North Carolina Municipal Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.42% |
| 2025 | +3.73% |
| 2024 | +1.27% |
| 2023 | +5.51% |
| 2022 | −10.87% |
| 2021 | +1.27% |
| 2020 | +5.01% |
| 2019 (Sep–Dec) | −0.58% |
FCNRX 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 | +0.7% | +1.6% | −2.7% | +1.4% | +0.5% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.0% | −2.0% | −0.5% | −0.4% | +0.5% | −0.6% | +1.0% | +2.9% | +1.6% | +0.2% | +0.2% |
| 2024 | −0.1% | −0.1% | −0.1% | −1.1% | −0.2% | +1.6% | +0.7% | +0.6% | +1.1% | −1.6% | +1.7% | −1.4% |
| 2023 | +3.0% | −2.5% | +2.2% | −0.2% | −1.0% | +0.7% | +0.2% | −1.1% | −3.2% | −1.3% | +6.3% | +2.5% |
| 2022 | −3.1% | −0.4% | −3.6% | −3.5% | +1.6% | −2.0% | +2.8% | −2.6% | −4.7% | −0.7% | +4.9% | +0.1% |
| 2021 | +0.7% | −2.0% | +0.6% | +1.1% | +0.4% | +0.2% | +1.0% | −0.5% | −1.0% | −0.3% | +0.9% | 0.0% |
| 2020 | +1.9% | +1.4% | −3.3% | −1.9% | +3.2% | +0.6% | +1.6% | −0.4% | −0.2% | −0.4% | +1.8% | +0.7% |
| 2019 | — | — | — | — | — | — | — | — | −0.9% | 0.0% | 0.0% | +0.2% |
FCNRX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.87%
- 3-year Sharpe ratio: -0.17 (vs 4.5% risk-free rate)
- Best month: +6.31% (Nov 2023)
- Worst month: −3.21% (Sep 2023)
FCNRX Fund Flows
Monthly money in and out of Nuveen North Carolina Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: −$28.6M
- 12-month gross sales (incl. reinvestments): $118.7M
- Sales ÷ redemptions: 0.81×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $11.5M | $9.1M | $2.3M |
| Apr 2026 | $7.2M | $8.4M | −$1.1M |
| Mar 2026 | $9.3M | $10.5M | −$1.2M |
| Feb 2026 | $7.9M | $5.1M | $2.8M |
| Jan 2026 | $10.5M | $9.4M | $1.2M |
| Dec 2025 | $12.7M | $10.3M | $2.3M |
| Nov 2025 | $9.1M | $6.1M | $3.0M |
| Oct 2025 | $8.3M | $8.8M | −$447K |
| Sep 2025 | $7.0M | $9.0M | −$2.1M |
| Aug 2025 | $8.4M | $34.4M | −$26.0M |
| Jul 2025 | $10.2M | $18.0M | −$7.8M |
| Jun 2025 | $16.6M | $18.2M | −$1.6M |
FCNRX Assets Under Management
Net assets of Nuveen North Carolina Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $487.65M |
| 2026-02-28 | $495.75M |
| 2025-11-30 | $481.48M |
| 2025-08-31 | $463.49M |
| 2025-05-31 | $499.52M |
| 2025-02-28 | $517.84M |
| 2024-11-30 | $546.43M |
| 2024-08-31 | $537.88M |
| 2024-05-31 | $523.73M |
| 2024-02-29 | $535.98M |
| 2023-11-30 | $505.58M |
| 2023-08-31 | $541.02M |
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.