NWQAX Fees and Costs — Nuveen Flexible Income Fund, Class A
Data updated: 2026-07-24
The net expense ratio is 0.96%: a 0.68% management fee, a 0.25% 12b-1 fee plus 0.10% other expenses, less a 0.07% fee waiver. This share class carries a maximum front-end sales load of 4.75%. In fiscal 2024 the fund paid $69K in broker commissions, 0.0063% of average net assets, and portfolio turnover was 27%.
NWQAX Fees and Expenses
Annual operating expenses and sales charges of NWQAX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.10% |
| Gross expense ratio | 1.03% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.96% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| 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 |
NWQAX Costs Over Time
On $10,000 invested in NWQAX, assuming 5% a year before costs, total costs come to $1,182 over 5 years, cutting the return by 2.02% 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 | $475 | $475 | $475 |
| Fund expenses (net expense ratio 0.96%) | $96 | $300 | $520 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $24 | $90 | $184 |
| Total costs | $595 | $866 | $1,182 |
| Value after costs | $9,905 | $10,710 | $11,580 |
| Impact on return, per year | 5.95% | 2.69% | 2.02% |
NWQAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0063%
- Total broker commissions: $69K
- Bought from dealers (principal trades, not a cost): $941.2M
- Portfolio turnover (prospectus): 27%
- Securities on loan, average value: $30.7M
- Net income from securities lending: $305K (0.028% of average net assets)
NWQAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $20K | 31.91% |
| Goldman Sachs & Co. LLC | $11K | 17.03% |
| National Financial Services LLC | $8K | 12.95% |
| Barclays Capital Inc. | $8K | 12.10% |
| Morgan Stanley | $6K | 9.82% |
| RBC Capital Markets, LLC | $5K | 8.67% |
| Guggenheim Capital, LLC | $1K | 2.09% |
| JPMorgan Securities LLC | $1K | 2.03% |
| Cowen and Company | $1K | 1.79% |
| Cantor Fitzgerald & Co. | $1K | 1.63% |
NWQAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $112.6M | 16.23% |
| Bank of America, National Association | $99.0M | 14.27% |
| JPMorgan Securities LLC | $97.4M | 14.04% |
| Jefferies LLC | $65.9M | 9.49% |
| Morgan Stanley | $58.6M | 8.45% |
| Wells Fargo Securities, LLC | $57.6M | 8.31% |
| Barclays Capital Inc. | $57.2M | 8.25% |
| RBC Capital Markets, LLC | $52.7M | 7.60% |
| Mizuho Securities USA, INC | $52.7M | 7.60% |
| Citigroup | $40.1M | 5.78% |
Nuveen Flexible Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NQWFX | Class R6 | 0.65% | none |
| NWQIX | Class I | 0.71% | none |
| NWQAX | Class A | 0.96% | 4.75% |
| NWQCX | Class C | 1.71% | 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.