Nuveen AMT-Free Municipal Value Fund

NUW

Market cap $253M

Overview Fund Activity

14.09 USD

-0.02

0.14%

At close Updated Sep 12, 4:00 PM EDT

1 day

-0.14%

5 days

0.71%

1 month

2.18%

3 months

3.22%

6 months

1.81%

Year to date

3.3%

1 year

-1.61%

5 years

-12.48%

10 years

-15.22%

About: Nuveen AMT-Free Municipal Value Fund is a diversified closed-end management investment company. Its investment objective is to provide current income exempt from regular federal income tax by investing in a portfolio of municipal obligations. The fund predominantly invests in long-term municipal bonds, corporate bonds, short-term municipal bonds, and other assets.

Financials Asset Management

0

Funds holding %

of 7,462 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

38% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 16

29% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 7

4% more funds holding

Funds holding: 56 [Q1] → 58 (+2) [Q2]

0.66% less ownership

Funds ownership: 35.08% [Q1] → 34.42% (-0.66%) [Q2]

2% less capital invested

Capital invested by funds: $86.6M [Q1] → $84.5M (-$2.08M) [Q2]

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Financial journalist opinion

NUW: Rates Pressure Long Duration Assets As Discount Narrows

NUW offers a diversified, mostly tax-free muni bond portfolio with minimal leverage, appealing to conservative investors seeking stability and tax efficiency. The fund's discount has narrowed recently, with some of that due to NAV pressure, making it less appealing. Distribution coverage remains strong at 97.5%, with nearly all payouts federally tax-exempt, distinguishing NUW from higher-yielding peers.

NUW: Rates Pressure Long Duration Assets As Discount Narrows

Unleveraged Options In The Tax-Exempt Sector

Fund-level leverage is only attractive when carry or capital gains potential is high; current tight spreads and an inverted yield curve make it less appealing. For tax-exempt CEFs, higher yields often come from longer duration, not leverage; unleveraged long-duration funds or ETFs can offer similar or better yields. Investors should not assume more leverage is always better; careful, situation-specific exposure to fund-level leverage is key to balancing risk and return.

Unleveraged Options In The Tax-Exempt Sector

NUW: Muni Bond Fund Not Funding Distributions With Capital Returns

Nuveen AMT-Free Municipal Value Fund is a closed-end fund focused on AMT-free municipal bonds, making it ideal for high-income investors seeking tax-exempt income. The fund avoids leverage, maintains investment-grade quality, and does not boost distributions with return of capital, ensuring transparency in payouts. NUW's structure shields investors from redemption cascades and offers diversification, but its long duration exposes it to interest rate risk.

NUW: Muni Bond Fund Not Funding Distributions With Capital Returns

2 Monthly Tax-Free Income CEFs At Attractive Discounts

Looking for places to put capital to work as income investors leaves us with many choices, depending on what type of investor you are. Municipal bonds offer tax-free income, making them attractive for high-income earners looking to minimize tax obligations. Today, we are looking at two muni-bond-focused closed-end funds, one being leveraged and a virtually non-leveraged option.

2 Monthly Tax-Free Income CEFs At Attractive Discounts

NUW: Discounted Tax-Free Diversified Municipal Bond Opportunity

Municipal bonds offer tax-free income and lower risk, ideal for income investors in the higher tax brackets. The Nuveen AMT-Free Municipal Value Fund is a closed-end fund that provides investors exposure to a diversified pool of municipal bonds. NUW's current discount of -8.85% is appealing as Treasury Rates have somewhat stabilized, at least relatively speaking, since late 2022/early 2023.

NUW: Discounted Tax-Free Diversified Municipal Bond Opportunity

5 Closed-End Fund Buys In The Month Of September 2024

The broader market indexes continue to hit all-time highs, with broader participation continuing into September. Every month, I add to my positions in my closed-end fund portfolio to grow my cash flow month after month. The main theme this month, which has been most of the theme this year, was adding to funds that should benefit from a lower rate environment.

5 Closed-End Fund Buys In The Month Of September 2024

The ABCs On CEFs

Closed-end funds offer unique advantages like fixed share numbers, no redemption liquidity issues, and exposure to hard-to-access asset classes, enhancing portfolio diversification. CEFs can trade at significant discounts or premiums to NAV due to supply and demand, unlike mutual funds and ETFs which align closely with NAV. Nuveen's AMT-Free Municipal Value Fund is a low-risk CEF with strong distribution coverage, primarily investing in investment-grade municipal bonds and trading at a discount to NAV.

The ABCs On CEFs

NUW: Tax-Free Income At A Discount

Nuveen AMT-Free Municipal Value Fund is a closed-end fund offering investors exposure to municipal bonds. NUW's portfolio is focused on high-quality, investment-grade holdings, and the fund is essentially non-leveraged (less than 1% effective leverage). The fund's discount remains deep, which can provide some potential further upside for investors.

NUW: Tax-Free Income At A Discount

My Top 10 Closed-End Fund Holdings: August 2024

Closed-end funds overall have seen discounts narrow since the start of the year, but opportunities still exist in certain areas of the market. With increased market volatility more recently, that may lead to discounts widening back out, which could create even more opportunities in this structure. I hold 42 positions in my CEF portfolio, with the top 10 positions making up 37.40% of the portfolio—here's a review of those top 10 names.

My Top 10 Closed-End Fund Holdings: August 2024

5 Closed-End Fund Buys (And 2 Sells) In The Month Of June 2024

June was another month where we saw broader equities hitting new all-time highs. However, that participation was rather narrow as the mega-cap tech names led the way higher. This last month, I added to or initiated positions in five different closed-end fund names; I sold out of two positions this month.

5 Closed-End Fund Buys (And 2 Sells) In The Month Of June 2024

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