NMAAX Performance — Nuveen Massachusetts Municipal Bond Fund, Class A
Data updated: 2026-07-24
NMAAX returned +1.87% year to date and +6.50% over one year to May 2026. Annualised returns are +3.10% over 3 years and −0.12% over 5 years. The fund trailed its Long-Term Municipal Bond category average: $100 invested three years ago grew to $110, against $112 for the category, and to $106 over one year, against $107. Volatility over the past three years was 5.17% a year. In the 12 months to May 2026 the fund took in a net $42.3M, and assets reached $439.68M.
NMAAX Growth of $100
What $100 invested in Nuveen Massachusetts 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 | NMAAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $107 |
| 3 years (Jun 2023 – May 2026) | $110 | $112 |
| 5 years (Jun 2021 – May 2026) | $99 | $103 |
| Since data start (Sep 2019 – May 2026) | $105 | $109 |
NMAAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.87% |
| 1 year | +6.50% |
| 3 years (annualised) | +3.10% |
| 5 years (annualised) | −0.12% |
NMAAX Annual Returns
Calendar-year total returns of Nuveen Massachusetts 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 | +2.33% |
| 2024 | +1.62% |
| 2023 | +5.51% |
| 2022 | −11.70% |
| 2021 | +1.89% |
| 2020 | +4.74% |
| 2019 (Sep–Dec) | −0.42% |
NMAAX 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 | +0.4% | +1.3% | −1.4% | +1.2% | +0.5% | — | — | — | — | — | — | — |
| 2025 | +0.1% | +0.8% | −1.7% | −0.8% | −0.5% | +0.4% | −0.7% | +0.6% | +2.7% | +1.2% | +0.4% | 0.0% |
| 2024 | −0.1% | 0.0% | −0.1% | −0.9% | +0.1% | +1.3% | +0.7% | +0.6% | +0.9% | −1.2% | +1.3% | −1.1% |
| 2023 | +2.8% | −2.0% | +1.7% | 0.0% | −0.5% | +0.8% | +0.1% | −1.1% | −2.7% | −1.6% | +6.0% | +2.1% |
| 2022 | −2.7% | −0.6% | −3.4% | −3.6% | +1.3% | −2.3% | +2.6% | −2.3% | −4.1% | −0.9% | +4.5% | −0.5% |
| 2021 | +0.6% | −1.8% | +0.6% | +1.2% | +0.5% | +0.3% | +0.8% | −0.6% | −0.9% | 0.0% | +1.0% | +0.1% |
| 2020 | +2.0% | +1.5% | −4.4% | −2.4% | +3.3% | +1.3% | +1.9% | −0.6% | 0.0% | −0.2% | +1.8% | +0.6% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | 0.0% | +0.1% | +0.2% |
NMAAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.17%
- 3-year Sharpe ratio: -0.27 (vs 4.5% risk-free rate)
- Best month: +6.00% (Nov 2023)
- Worst month: −2.72% (Sep 2023)
NMAAX Fund Flows
Monthly money in and out of Nuveen Massachusetts Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $42.3M
- 12-month gross sales (incl. reinvestments): $163.8M
- Sales ÷ redemptions: 1.35×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $8.5M | $5.1M | $3.4M |
| Apr 2026 | $7.8M | $5.9M | $1.8M |
| Mar 2026 | $13.5M | $5.4M | $8.1M |
| Feb 2026 | $6.3M | $6.9M | −$545K |
| Jan 2026 | $9.7M | $7.8M | $1.9M |
| Dec 2025 | $23.5M | $14.8M | $8.7M |
| Nov 2025 | $5.4M | $7.6M | −$2.1M |
| Oct 2025 | $8.0M | $9.1M | −$1.1M |
| Sep 2025 | $8.6M | $6.6M | $2.0M |
| Aug 2025 | $7.2M | $12.9M | −$5.7M |
| Jul 2025 | $11.4M | $11.1M | $231K |
| Jun 2025 | $53.9M | $28.4M | $25.5M |
NMAAX Assets Under Management
Net assets of Nuveen Massachusetts Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $439.68M |
| 2026-02-28 | $429.39M |
| 2025-11-30 | $415.62M |
| 2025-08-31 | $403.20M |
| 2025-05-31 | $385.39M |
| 2025-02-28 | $479.53M |
| 2024-11-30 | $565.65M |
| 2024-08-31 | $573.01M |
| 2024-05-31 | $568.27M |
| 2024-02-29 | $586.59M |
| 2023-11-30 | $550.81M |
| 2023-08-31 | $626.85M |
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.