NMVAX Fees and Costs — Nuveen Virginia Municipal Bond Fund, Class I
Data updated: 2026-09-28
The net expense ratio is 0.52%: a 0.49% management fee plus 0.08% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 10%.
NMVAX Fees and Expenses
Annual operating expenses and sales charges of NMVAX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.57% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.52% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
NMVAX Costs Over Time
On $10,000 invested in NMVAX, assuming 5% a year before costs, total costs come to $328 over 5 years, cutting the return by 0.55% 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 |
| Fund expenses (net expense ratio 0.52%) | $55 | $171 | $298 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $55 | $180 | $328 |
| Value after costs | $10,445 | $11,397 | $12,434 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
NMVAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $112.2M
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
NMVAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $25.9M | 25.19% |
| Bank of America, National Association | $19.4M | 18.89% |
| Jefferies LLC | $13.8M | 13.43% |
| Piper Sandler & Co. | $10.2M | 9.91% |
| BNY Mellon Capital Markets, LLC | $8.7M | 8.50% |
| JPMorgan Securities LLC | $8.2M | 7.95% |
| Morgan Stanley | $7.8M | 7.55% |
| Truist Investment Services, Inc. | $4.4M | 4.29% |
| RBC Capital Markets, LLC | $2.3M | 2.28% |
| UBS Financial Services Inc. | $2.1M | 2.01% |
Nuveen Virginia 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 |
|---|---|---|---|
| NMVAX | Class I | 0.52% | none |
| FVATX | Class A | 0.72% | 4.20% |
| FVCCX | Class C | 1.52% | 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.