ETF Evaluator:
Nuveen High Yield Municipal Income ETF ()
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(as of Aug 26)
Best Performing in High Yield Muni Over the Last Year
| 10.8% | VanEck CEF Municipal Income ETF (XMPT) |
| 9.9% | Eaton Vance High Income Municipal ETF (EVYM) |
| 9.5% | Rockefeller Opportunistic Muncpl Bd ETF (RMOP) |
| 9.0% | Nomura National Hi-Yld Muncpl Bd ETF (HTAX) |
| 8.8% | Franklin Municipal High Yield ETF (FTMH) |
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ETF Details
Nuveen High Yield Municipal Income ETF Overview
Nuveen High Yield Municipal Income ETF (NHYM) is an actively managed Municipal Bond High Yield Muni exchange-traded fund (ETF). Nuveen launched the ETF in 2025.
The investment seeks to provide high current income exempt from regular federal income taxes; capital appreciation is a secondary objective when consistent with the fund's primary objective.
Under normal market conditions, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal income tax.
About Nuveen High Yield Municipal Income ETF (NHYM)
There are 5 members of the management team with an average tenure of 1.52 years: Daniel Close (2025), Steven Hlavin (2025), Stephen Candido (2025), Michael McElduff (2025) and Nicholas Mueller (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Nuveen High Yield Municipal Income ETF has 261 securities in its portfolio. The top 10 holdings constitute 12.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Nuveen High Yield Municipal Income ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. Nuveen High Yield Municipal Income ETF has 4.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.2% (94.9% domestic bond, 4.3% foreign bond and 0.0% convertible bond). Nuveen High Yield Municipal Income ETF has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $136 million in total assets, which is below the $990 million average for the High Yield Muni category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
NHYM Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Nuveen High Yield Municipal Income ETF expense ratio is below average compared to funds in the High Yield Muni category. Nuveen High Yield Municipal Income ETF has an expense ratio of 0.35%, which is 42% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Nuveen High Yield Municipal Income ETF has a portfolio turnover rate of 48%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 38% for the High Yield Muni category.
Recently, in the month of July 2026, Nuveen High Yield Municipal Income ETF returned -1.6%, which earned it a grade of B, as the High Yield Muni category had an average return of -1.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Nuveen High Yield Municipal Income ETF has a trailing yield of 4.58%, which is equal to the 4.58% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Nuveen High Yield Municipal Income ETF Grades
Year to date, the ETF has returned 2.0%, 0.1 percentage points better than the category, which translates into a grade of C. The fund has returned 8.4% over the past year (grade of B).
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NHYM Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NHYM Return (NAV) | -1.6% | 0.4% | 8.4% | na | na | na |
| NHYM Return (Price) | -1.5% | -0.1% | 8.3% | na | na | na |
| NAV +/- Price Return | -0.110% | 0.466% | 0.071% | na | na | na |
| High Yield Muni Avg | -1.8% | 0.3% | 7.4% | 4.8% | 0.2% | 2.2% |
| NHYM Grade (NAV) | B | C | B | na | na | na |
| +/- Category (NAV) | 0.2% | 0.0% | 1.0% | na | na | na |
| NHYM Tax-Cost Ratio | na | na | 0.0% | na | na | na |
NHYM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NHYM Return (NAV) | 2.0% | na | na | na | na | na | na | na | na | na | na |
| NHYM Return (Price) | 1.6% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.224% | na | na | na | na | na | na | na | na | na | na |
| High Yield Muni Avg | 1.9% | 4.1% | 5.5% | 6.4% | -14.8% | 6.0% | 3.9% | 10.4% | 1.1% | 7.1% | 0.7% |
| NHYM Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.1% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 4.6% |
| Total Assets: | $ 136 Mil |
| Share Class Assets: | $ 136 Mil |
| Turnover: | 48.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Close Daniel (2025), Hlavin Steven (2025), Candido Stephen (2025), McElduff Michael (2025), Mueller Nicholas (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 261 |
| % in Top 10 Holdings: | 12.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 94.9% |
| Foreign Bond: | 4.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Nuveen |
| Phone Number: | 888-290-9881 |
| Website: | http://www.nuveen.com |
| Inception Date: | January 22, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.60% |
