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Nuveen California AMT-Free Quality Municipal Income Fund (NKX)

Single State Muni Bond Funds - California (CA) Municipal Bond

Data as of Sept. 21, 2023
Market Price $10.65 (- $0.06)
NAV (Sept. 21, 2023) $12.41 (- $0.17)
Fund Listed NYSE
Premium / Discount -14.18% (+0.68%)
Fund Info
Inception Nov. 22, 2002
Sponsor Nuveen Fund Advisors
Phone 800-257-8787
Location Illinois
Incorporated Massachusetts
Staggered Board Yes
Term Date N/A
Objective: Current income exempt from regular federal income tax, California income tax and MAT; investment grade municipal securities
Related Indexes
California Municipal Index
Capital & Leverage
Outstanding Shares 47,520,333
Total Assets (Reported: July 30, 2023) $1,053M
Estimated Total Assets $998M
Net Assets $590M
Market Cap $506M
Portfolio Turnover 58.00%
Total Leverage 40.89%
Structural Leverage (out of total) 92.22%
Portfolio Leverage (out of total) 7.78%
Expense Ratio 3.45%
Non Lev Exp Ratio 1.05%
Rel Lev Cost 3.47%
Discount Data
Average Discount (3 Yr) -7.39%
Discount Low(3 Yr) -15.01%
Discount High(3 Yr) 0.07%
Discount Rel Range (3 Yr) 5.48%
Comp Discount -1.92
Discount St Dev (1Yr) 2.82
Z-Stat (6mo) -0.89
Z-Stat (1Yr) -1.13
Z-Stat (3Yr) -1.78
Comp Z-Stat (6mo) 0.57
Comp Z-Stat (3Yr) -0.30
Distribution Data
Market Yield 4.68%
Income Yield 4.68%
Lev Adj NAV Yield 2.85%
Distribution Frequency M
Current Distribution $0.042
Current Income $0.042
Ex-Date 9/14/23
Payable Date 10/2/23
Div Growth (3yr) -23.85%
Dividend Change -11.7% on 1/3/23
Expected Div 10/2/23
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (K) $951
Avg Volume 30 day 101,380
Avg Volume 90 day 89,319
Volume Trend 13.50%
Comp Volume Trend -3.95%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's California Municipal Index
Most Correlated Peer (Mk Pr): NAC 86.0%
NAV - Price Correlation (30 d) 81.0%
NAV - Price Correlation (90 d) 93.4%
NAV - Price Correlation (1 Yr) 67.3%
Price St Dev (1Yr) 12.9%
NAV St Dev (1Yr) 6.7%
Earnings / Share (7/31/23) $0.038
Earn Coverage 92.05%
Earnings Trend Down
UNII / Share (7/31/23) $0.000
Rel UNII 0.06
UNII Trend Up
Bond Specific Data
Maturity 21.59
Duration 13.10
Credit Rating (rbo) AA
Investment Grade 79.60%
Non Investment Grade 3.30%
Unrated Bonds 17.00%
Average Bond Price 94.33
Discount vs Price -19.85
Coupon 4.89%
Zero Coupon 11.60%
AMT 0.00%
AMT Yield 4.68%
Bond Calls Risk 14.20%
NAV Beta (2yr)
vs. S&P 500 (TR)
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
NAV Beta (2yr)
vs. CEFA's California Municipal Index

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NOTES: Distribution type sourced from For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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