NCAAX Performance — Nuveen California Municipal Bond Fund, Class A
Data updated: 2026-07-24
NCAAX returned +1.87% year to date and +7.49% over one year to May 2026. Annualised returns are +3.91% over 3 years and +0.16% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $112, against $112 for the category, and to $107 over one year, against $107. Volatility over the past three years was 5.55% a year. In the 12 months to May 2026 the fund lost a net $10.9M, and assets reached $1.67B.
NCAAX Growth of $100
What $100 invested in Nuveen California 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 | NCAAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $112 | $112 |
| 5 years (Jun 2021 – May 2026) | $101 | $103 |
| Since data start (Sep 2019 – May 2026) | $107 | $109 |
NCAAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.87% |
| 1 year | +7.49% |
| 3 years (annualised) | +3.91% |
| 5 years (annualised) | +0.16% |
NCAAX Annual Returns
Calendar-year total returns of Nuveen California Municipal Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.87% |
| 2025 | +2.92% |
| 2024 | +2.86% |
| 2023 | +5.55% |
| 2022 | −11.71% |
| 2021 | +1.40% |
| 2020 | +5.24% |
| 2019 (Sep–Dec) | −0.36% |
NCAAX 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 | +0.5% | +1.4% | −1.6% | +0.9% | +0.6% | — | — | — | — | — | — | — |
| 2025 | 0.0% | +1.0% | −1.7% | −1.2% | −0.6% | +0.5% | −0.6% | +0.7% | +2.9% | +1.3% | +0.4% | +0.1% |
| 2024 | 0.0% | +0.4% | +0.2% | −1.1% | +0.3% | +1.6% | +0.9% | +0.5% | +1.1% | −1.2% | +1.4% | −1.3% |
| 2023 | +3.3% | −2.3% | +1.2% | 0.0% | −0.6% | +1.1% | 0.0% | −1.0% | −2.7% | −1.9% | +6.4% | +2.3% |
| 2022 | −3.1% | −0.4% | −3.7% | −3.6% | +1.9% | −2.8% | +3.1% | −2.3% | −4.7% | −1.6% | +5.5% | 0.0% |
| 2021 | +0.6% | −2.2% | +0.8% | +1.2% | +0.7% | +0.3% | +0.7% | −0.5% | −1.0% | −0.1% | +0.9% | 0.0% |
| 2020 | +2.2% | +1.7% | −5.2% | −1.8% | +3.8% | +1.4% | +1.8% | −0.5% | −0.1% | −0.1% | +1.9% | +0.5% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | +0.1% | +0.1% | +0.2% |
NCAAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.55%
- 3-year Sharpe ratio: -0.11 (vs 4.5% risk-free rate)
- Best month: +6.40% (Nov 2023)
- Worst month: −2.72% (Sep 2023)
NCAAX Fund Flows
Monthly money in and out of Nuveen California Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: −$10.9M
- 12-month gross sales (incl. reinvestments): $578.5M
- Sales ÷ redemptions: 0.98×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $41.1M | $37.8M | $3.3M |
| Apr 2026 | $48.3M | $44.7M | $3.6M |
| Mar 2026 | $32.7M | $30.2M | $2.5M |
| Feb 2026 | $34.3M | $20.9M | $13.4M |
| Jan 2026 | $46.8M | $39.5M | $7.3M |
| Dec 2025 | $49.9M | $56.4M | −$6.5M |
| Nov 2025 | $41.3M | $40.3M | $1.0M |
| Oct 2025 | $35.5M | $52.7M | −$17.2M |
| Sep 2025 | $46.9M | $65.1M | −$18.1M |
| Aug 2025 | $88.5M | $73.0M | $15.5M |
| Jul 2025 | $54.3M | $88.3M | −$34.0M |
| Jun 2025 | $58.8M | $40.6M | $18.2M |
NCAAX Assets Under Management
Net assets of Nuveen California Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.67B |
| 2026-02-28 | $1.67B |
| 2025-11-30 | $1.64B |
| 2025-08-31 | $1.62B |
| 2025-05-31 | $1.62B |
| 2025-02-28 | $1.71B |
| 2024-11-30 | $1.79B |
| 2024-08-31 | $1.74B |
| 2024-05-31 | $1.69B |
| 2024-02-29 | $1.71B |
| 2023-11-30 | $1.67B |
| 2023-08-31 | $1.72B |
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.