NCAAX Fees and Costs — Nuveen California Municipal Bond Fund, Class A
Data updated: 2026-07-24
The net expense ratio is 0.73%. This share class carries a maximum front-end sales load of 4.20%. Portfolio turnover was 27%.
NCAAX Fees and Expenses
Annual operating expenses and sales charges of NCAAX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.20% |
| Other expenses | — |
| Gross expense ratio | 0.73% |
| Fee waiver | — |
| Net expense ratio | 0.73% |
| Sales charges | |
|---|---|
| Max front load | 4.20% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
NCAAX Costs Over Time
On $10,000 invested in NCAAX, assuming 5% a year before costs, total costs come to $976 over 5 years, cutting the return by 1.66% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $420 | $420 | $420 |
| Fund expenses (net expense ratio 0.73%) | $73 | $230 | $400 |
| Lost growth on money paid in costs | $21 | $78 | $156 |
| Total costs | $514 | $727 | $976 |
| Value after costs | $9,986 | $10,849 | $11,787 |
| Impact on return, per year | 5.14% | 2.25% | 1.66% |
NCAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $753.5M
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
NCAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $191.7M | 28.23% |
| Wells Fargo Securities, LLC | $88.4M | 13.02% |
| JPMorgan Securities LLC | $85.8M | 12.64% |
| Bank of America, National Association | $69.0M | 10.17% |
| Piper Sandler & Co. | $63.4M | 9.34% |
| Pershing LLC | $54.7M | 8.05% |
| Morgan Stanley | $51.4M | 7.58% |
| Raymond James & Associates Inc. | $39.3M | 5.78% |
| UBS Financial Services Inc. | $20.8M | 3.07% |
| Janney Montgomery Scott LLC | $14.4M | 2.12% |
Nuveen California Municipal Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NCSPX | Class I | 0.53% | none |
| NCAAX | Class A | 0.73% | 4.20% |
| NAKFX | Class C | 1.53% | none |
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.