Fund Evaluator:
Nuveen Real Asset Income A (NRIAX)
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Fund Details
Nuveen Real Asset Income A Overview
Nuveen Real Asset Income A (NRIAX) is an actively managed Allocation Global Moderately Conservative Allocation fund. Nuveen launched the fund in 2011.
The investment seeks a high level of current income; the secondary objective is to seek capital appreciation. The fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in securities issued by real asset related companies that are generating income at the time of purchase. It will invest in both equity securities and debt securities, but will not invest more than 40% of its net assets in debt securities. The fund will invest in non-U.S. securities, but will limit its exposure to emerging markets to 50% of its net assets at the time of purchase.
About Nuveen Real Asset Income A (NRIAX)
There are 5 members of the management team with an average tenure of 6.21 years: Brenda Langenfeld (2015), Tryg Sarsland (2015), Benjamin Kerl (2021), Noah Hauser (2024), James Kim (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Bloomberg US Corporate High Yield TR USD index with a weighting of 100%. Nuveen Real Asset Income A has 467 securities in its portfolio. The top 10 holdings constitute 12.8% 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 Real Asset Income A is part of the Allocation global asset class and is within the Allocation fund group. Nuveen Real Asset Income A has 29.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 28.1%. There is 23.4% allocated to foreign stock, and 12.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 32.2% (26.1% domestic bond, 6.0% foreign bond and 1.6% convertible bond). Nuveen Real Asset Income A has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $133 million in total assets, which is below the $304 million average for the Global Moderately Conservative Allocation 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.
NRIAX 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 Real Asset Income A expense ratio is high compared to funds in the Global Moderately Conservative Allocation category. Nuveen Real Asset Income A has an expense ratio of 1.16%, which is 18% higher than its category average, making the fund expense ratio grade a D. 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 Real Asset Income A has a portfolio turnover rate of 74%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Global Moderately Conservative Allocation category.
Recently, in the month of July 2026, Nuveen Real Asset Income A returned 0.9%, which earned it a grade of A, as the Global Moderately Conservative Allocation 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 Real Asset Income A has a trailing yield of 5.45%, which is above the 3.07% 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 Real Asset Income A Grades
Year to date, the fund has returned 7.2%, 2.1 percentage points better than the category, which translates into a grade of A. The fund has returned 11.7% over the past year (grade of B), 9.7% over the past three years (grade of A) and 4.4% per year over the past five years (grade of B) and 4.9% per year over the past 10 years (grade of D).
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NRIAX 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 |
|
| NRIAX Return (NAV) | 0.9% | 0.7% | 11.7% | 9.7% | 4.4% | 4.9% |
| NRIAX Grade | A | F | B | A | B | D |
| +/- Category | 1.4% | -0.7% | 0.8% | 0.6% | 0.5% | -0.5% |
| Global Moderately Conservative Allocation Avg | -0.5% | 1.5% | 10.9% | 9.1% | 3.9% | 5.4% |
| NRIAX Tax Cost Ratio | na | na | 2.1% | 1.9% | 1.9% | 2.0% |
NRIAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NRIAX Return (NAV) | 7.2% | 11.2% | 6.8% | 8.1% | -12.0% | 11.6% | -3.7% | 22.4% | -6.4% | 12.1% | 9.6% |
| NRIAX Grade | A | D | C | F | A | A | F | A | F | A | A |
| +/- Category | 2.1% | -0.3% | -0.5% | -2.2% | 1.5% | 4.1% | -12.6% | 7.4% | -1.6% | 1.4% | 3.5% |
| Global Moderately Conservative Allocation Avg | 5.1% | 11.6% | 7.3% | 10.4% | -13.5% | 7.5% | 8.9% | 15.0% | -4.8% | 10.7% | 6.1% |
| Risk Measures | |
| Standard Deviation: | 8.6% |
| Total Risk Index: | 0.70 - Below Average |
| Category Risk Index: | 1.16 - High |
| Category Risk Grade: | F (102% Rank) |
| Beta: | 0.82 |
| R-Squared: | 79% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | Medium Quality Limited Sensitivity |
| Yield: | 5.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1212 Mil |
| Fund Total Assets: | $ 133 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 74% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 11.3 years | |||
| Average Tenure: 6.2 years | |||
| Managers (Year): Langenfeld Brenda (2015), Sarsland Tryg (2015), Kerl Benjamin (2021), Hauser Noah (2024), Kim James (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 467 |
| % in Top 10 Holdings: | 12.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 29.5% |
Portfolio Allocation |
|
| Domestic Stock: | 28.1% |
| Foreign Stock: | 23.4% |
| Preferred Stock: | 12.4% |
| Domestic Bond: | 26.1% |
| Foreign Bond: | 6.0% |
| Convertible Bond: | 1.6% |
| Other: | 0.4% |
| Cash: | 1.9% |
Purchase Information
| Fund Family: | Nuveen |
| Phone Number: | 800-257-8787 |
| Website: | www.nuveen.com |
| Status: | Open |
| Inception Date: | September 13, 2011 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $2,000 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.16% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Nuveen Real Asset Income I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
