Fund Evaluator:

Nuveen Preferred SecuritiesAndIncMgdAcCo Overview

Nuveen Preferred SecuritiesAndIncMgdAcCo (NISPX) is an actively managed Taxable Bond Miscellaneous Fixed Income fund. Nuveen launched the fund in 2022.

The investment seeks a high level of current income and total return. Under normal circumstances, the portfolio invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in preferred securities or other income producing securities. The portfolio may invest in all types of preferred securities, including both perpetual preferred securities and hybrid securities. The portfolio may invest up to 50% of its assets in securities rated lower than investment grade or unrated securities of comparable quality as determined by the portfolio’s sub-adviser.

About Nuveen Preferred SecuritiesAndIncMgdAcCo (NISPX)

There are 2 members of the management team with an average tenure of 3.83 years: Brenda Langenfeld (2022), Matthew Diamond (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE U.S. Institutional Capitl Sec TR USD index with a weighting of 100%. Nuveen Preferred SecuritiesAndIncMgdAcCo has 102 securities in its portfolio. The top 10 holdings constitute 25.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Nuveen Preferred SecuritiesAndIncMgdAcCo is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Nuveen Preferred SecuritiesAndIncMgdAcCo has 43.9% 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 32.8% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 58.5% (14.5% domestic bond, 43.9% foreign bond and 2.0% convertible bond). Nuveen Preferred SecuritiesAndIncMgdAcCo has 8.8% of the portfolio in cash.

Assets Under Management

The fund has $17 million in total assets, which is below the $716 million average for the Miscellaneous Fixed Income 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.

NISPX 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 Preferred SecuritiesAndIncMgdAcCo expense ratio is low compared to funds in the Miscellaneous Fixed Income category. Nuveen Preferred SecuritiesAndIncMgdAcCo has an expense ratio of 0.01%, which is 96% lower than its category average, making the fund expense ratio grade a C. 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 Preferred SecuritiesAndIncMgdAcCo has a portfolio turnover rate of 44%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 109% for the Miscellaneous Fixed Income category.

Recently, in the month of August 2026, Nuveen Preferred SecuritiesAndIncMgdAcCo returned 0.7%, which earned it a grade of B, as the Miscellaneous Fixed Income category had an average return of 0.5%. 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 funds in that category.

Nuveen Preferred SecuritiesAndIncMgdAcCo has a trailing yield of 6.77%, which is above the 5.72% 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 Preferred SecuritiesAndIncMgdAcCo Grades

Year to date, the fund has returned 2.9%, 0.9 percentage points better than the category, which translates into a grade of B. The fund has returned 6.9% over the past year (grade of A) and 10.7% over the past three years (grade of A).

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