Shareholder Report
May 31, 2026
USD ($)
Holding
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class I Shares |
$64 | 0.62% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Kansas Municipal Bond Fund returned 6.94% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Kansas Index, which returned 6.21%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds. • Credit-quality positioning, especially an overweight to BBB-rated and BB-rated bonds. • Sector positioning, especially an overweight to dedicated-tax bonds. • Security selection in the local school district and health care bond sectors, and in Overland Park Convention Center bonds. Top detractors from relative performance • An underweight to higher-education bonds. • Overland Park Prairiefire development bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class I Shares at NAV |
6.94 | % | 1.23 | % | 2.05 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Kansas Index |
6.21 | % | 1.51 | % | 2.30 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 194,548,848 | ||
| Total number of portfolio holdings |
151 | |||
| Portfolio turnover (%) |
15% | |||
| Total management fees paid for the year |
$ | 952,272 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class C Shares |
$167 | 1.62% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Kansas Municipal Bond Fund returned 5.90% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&P Municipal Bond Kansas Index, which returned 6.21%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds. • Credit-quality positioning, especially an overweight to BBB-rated and BB-rated bonds. • Sector positioning, especially an overweight to dedicated-tax bonds. • Security selection in the local school district and health care bond sectors, and in Overland Park Convention Center bonds. Top detractors from relative performance • An underweight to higher-education bonds. • Overland Park Prairiefire development bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class C Shares at NAV (excluding maximum sales charge) |
5.90 | % | 0.22 | % | 1.19 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Kansas Index |
6.21 | % | 1.51 | % | 2.30 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 194,548,848 | ||
| Total number of portfolio holdings |
151 | |||
| Portfolio turnover (%) |
15% | |||
| Total management fees paid for the year |
$ | 952,272 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class A Shares |
$85 | 0.82% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Kansas Municipal Bond Fund returned 6.71% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Kansas Index, which returned 6.21%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds. • Credit-quality positioning, especially an overweight to BBB-rated and BB-rated bonds. • Sector positioning, especially an overweight to dedicated-tax bonds. • Security selection in the local school district and health care bond sectors, and in Overland Park Convention Center bonds. Top detractors from relative performance • An underweight to higher-education bonds. • Overland Park Prairiefire development bonds. |
Average Annual Total Returns
| 1‑Year | 5‑Year | 10‑Year | ||||||||||
| Class A Shares at NAV (excluding maximum sales charge) |
6.71 | % | 1.03 | % | 1.85 | % | ||||||
| Class A Shares at maximum sales charge (Offering Price) |
2.20 | % | 0.16 | % | 1.41 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Kansas Index |
6.21 | % | 1.51 | % | 2.30 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 194,548,848 | ||
| Total number of portfolio holdings |
151 | |||
| Portfolio turnover (%) |
15% | |||
| Total management fees paid for the year |
$ | 952,272 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class A Shares |
$120 | 1.16% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Kentucky Municipal Bond Fund returned 7.29% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Kentucky Index, which returned 6.71%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to bonds with durations between two and six years. • Credit quality positioning, especially an overweight to non-rated bonds. • An underweight to the industrial revenue development bond sector. Top detractors from relative performance • Sector positioning, especially an overweight to health care bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class A Shares at NAV (excluding maximum sales charge) |
7.29 | % | 0.19 | % | 1.63 | % | ||||||
| Class A Shares at maximum sales charge (Offering Price) |
2.75 | % | (0.66 | )% | 1.19 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Kentucky Index |
6.71 | % | 1.50 | % | 2.51 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 220,120,918 | ||
| Total number of portfolio holdings |
98 | |||
| Portfolio turnover (%) |
13% | |||
| Total management fees paid for the year |
$ | 1,072,584 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
| (2) | Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class C Shares |
$202 | 1.96% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Kentucky Municipal Bond Fund returned 6.44% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&P Municipal Bond Kentucky Index, which returned 6.71%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to bonds with durations between two and six years. • Credit quality positioning, especially an overweight to non-rated bonds. • An underweight to the industrial revenue development bond sector. Top detractors from relative performance • Sector positioning, especially an overweight to health care bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class C Shares at NAV (excluding maximum sales charge) |
6.44 | % | (0.61 | )% | 0.98 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Kentucky Index |
6.71 | % | 1.50 | % | 2.51 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 220,120,918 | ||
| Total number of portfolio holdings |
98 | |||
| Portfolio turnover (%) |
13% | |||
| Total management fees paid for the year |
$ | 1,072,584 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
| (2) | Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class I Shares |
$100 | 0.96% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Kentucky Municipal Bond Fund returned 7.50% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Kentucky Index, which returned 6.71%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to bonds with durations between two and six years. • Credit quality positioning, especially an overweight to non-rated bonds. • An underweight to the industrial revenue development bond sector. Top detractors from relative performance • Sector positioning, especially an overweight to health care bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class I Shares at NAV |
7.50 | % | 0.39 | % | 1.84 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Kentucky Index |
6.71 | % | 1.50 | % | 2.51 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 220,120,918 | ||
| Total number of portfolio holdings |
98 | |||
| Portfolio turnover (%) |
13% | |||
| Total management fees paid for the year |
$ | 1,072,584 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
| (2) | Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class I Shares |
$64 | 0.62% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Michigan Municipal Bond Fund returned 6.92% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Michigan Index, which returned 6.36%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds. • Credit quality positioning, especially an overweight to non-rated bonds. • An overweight to the dedicated-tax bond sector. Top detractors from relative performance • Sector allocation, especially an overweight to utility bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class I Shares at NAV |
6.92 | % | 0.07 | % | 1.69 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Michigan Index |
6.36 | % | 1.12 | % | 2.47 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 217,545,018 | ||
| Total number of portfolio holdings |
120 | |||
| Portfolio turnover (%) |
19% | |||
| Total management fees paid for the year |
$ | 977,391 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class C Shares |
$167 | 1.62% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Michigan Municipal Bond Fund returned 5.87% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&P Municipal Bond Michigan Index, which returned 6.36%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds. • Credit quality positioning, especially an overweight to non-rated bonds. • An overweight to the dedicated-tax bond sector. Top detractors from relative performance • Sector allocation, especially an overweight to utility bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class C Shares at NAV (excluding maximum sales charge) |
5.87 | % | (0.92 | )% | 0.83 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Michigan Index |
6.36 | % | 1.12 | % | 2.47 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 217,545,018 | ||
| Total number of portfolio holdings |
120 | |||
| Portfolio turnover (%) |
19% | |||
| Total management fees paid for the year |
$ | 977,391 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class A Shares |
$85 | 0.82% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Michigan Municipal Bond Fund returned 6.71% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Michigan Index, which returned 6.36%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds. • Credit quality positioning, especially an overweight to non-rated bonds. • An overweight to the dedicated-tax bond sector. Top detractors from relative performance • Sector allocation, especially an overweight to utility bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class A Shares at NAV (excluding maximum sales charge) |
6.71 | % | (0.13 | )% | 1.48 | % | ||||||
| Class A Shares at maximum sales charge (Offering Price) |
2.19 | % | (0.98 | )% | 1.05 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Michigan Index |
6.36 | % | 1.12 | % | 2.47 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 217,545,018 | ||
| Total number of portfolio holdings |
120 | |||
| Portfolio turnover (%) |
19% | |||
| Total management fees paid for the year |
$ | 977,391 | ||
| |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class A Shares |
$80 | 0.77% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Missouri Municipal Bond Fund returned 6.90% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&P Municipal Bond Missouri Index, which returned 7.30%. Top contributors to relative performance • Duration positioning, especially an overweight to bonds with durations of 10 years and longer and an underweight to bonds with durations of six years and shorter. Top detractors from relative performance • Security selection. • Shorter-duration health care bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class A Shares at NAV (excluding maximum sales charge) |
6.90 | % | 0.79 | % | 2.08 | % | ||||||
| Class A Shares at maximum sales charge (Offering Price) |
2.45 | % | (0.07 | )% | 1.64 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Missouri Index |
7.30 | % | 1.37 | % | 2.43 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 504,501,374 | ||
| Total number of portfolio holdings |
251 | |||
| Portfolio turnover (%) |
7% | |||
| Total management fees paid for the year |
$ | 2,457,683 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class C Shares |
$162 | 1.57% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Missouri Municipal Bond Fund returned 6.06% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&P Municipal Bond Missouri Index, which returned 7.30%. Top contributors to relative performance • Duration positioning, especially an overweight to bonds with durations of 10 years and longer and an underweight to bonds with durations of six years and shorter. Top detractors from relative performance • Security selection. • Shorter-duration health care bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class C Shares at NAV (excluding maximum sales charge) |
6.06 | % | (0.02 | )% | 1.43 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Missouri Index |
7.30 | % | 1.37 | % | 2.43 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 504,501,374 | ||
| Total number of portfolio holdings |
251 | |||
| Portfolio turnover (%) |
7% | |||
| Total management fees paid for the year |
$ | 2,457,683 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class I Shares |
$59 | 0.57% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Missouri Municipal Bond Fund returned 7.21% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund performed in line with the S&P Municipal Bond Missouri Index, which returned 7.30%. Top contributors to relative performance • Duration positioning, especially an overweight to bonds with durations of 10 years and longer and an underweight to bonds with durations of six years and shorter. Top detractors from relative performance • Security selection. • Shorter-duration health care bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class I Shares at NAV |
7.21 | % | 1.00 | % | 2.29 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Missouri Index |
7.30 | % | 1.37 | % | 2.43 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 504,501,374 | ||
| Total number of portfolio holdings |
251 | |||
| Portfolio turnover (%) |
7% | |||
| Total management fees paid for the year |
$ | 2,457,683 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class I Shares |
$58 | 0.56% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Ohio Municipal Bond Fund returned 6.50% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Ohio Index, which returned 5.96%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds. • Credit quality positioning, especially an overweight to non-rated bonds. • Sector positioning, especially an overweight to dedicated-tax bonds. Top detractors from relative performance • An underweight to the housing bond sector. • Security selection. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class I Shares at NAV |
6.50 | % | 0.67 | % | 1.94 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Ohio Index |
5.96 | % | 0.90 | % | 2.46 | % | ||||||
| Lipper Ohio Municipal Debt Funds Classification Average |
6.75 | % | 0.45 | % | 1.70 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 426,973,140 | ||
| Total number of portfolio holdings |
196 | |||
| Portfolio turnover (%) |
19% | |||
| Total management fees paid for the year |
$ | 2,181,795 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class C Shares |
$160 | 1.56% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Ohio Municipal Bond Fund returned 5.53% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund underperformed the S&P Municipal Bond Ohio Index, which returned 5.96%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds. • Credit quality positioning, especially an overweight to non-rated bonds. • Sector positioning, especially an overweight to dedicated-tax bonds. Top detractors from relative performance • An underweight to the housing bond sector. • Security selection. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class C Shares at NAV (excluding maximum sales charge) |
5.53 | % | (0.34 | )% | 1.08 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Ohio Index |
5.96 | % | 0.90 | % | 2.46 | % | ||||||
| Lipper Ohio Municipal Debt Funds Classification Average |
6.75 | % | 0.45 | % | 1.70 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 426,973,140 | ||
| Total number of portfolio holdings |
196 | |||
| Portfolio turnover (%) |
19% | |||
| Total management fees paid for the year |
$ | 2,181,795 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class A Shares |
$78 | 0.76% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Ohio Municipal Bond Fund returned 6.28% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Ohio Index, which returned 5.96%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds and an underweight to shorter-duration bonds. • Credit quality positioning, especially an overweight to non-rated bonds. • Sector positioning, especially an overweight to dedicated-tax bonds. Top detractors from relative performance • An underweight to the housing bond sector. • Security selection. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class A Shares at NAV (excluding maximum sales charge) |
6.28 | % | 0.47 | % | 1.74 | % | ||||||
| Class A Shares at maximum sales charge (Offering Price) |
1.80 | % | (0.38 | )% | 1.31 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Ohio Index |
5.96 | % | 0.90 | % | 2.46 | % | ||||||
| Lipper Ohio Municipal Debt Funds Classification Average |
6.75 | % | 0.45 | % | 1.70 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 426,973,140 | ||
| Total number of portfolio holdings |
196 | |||
| Portfolio turnover (%) |
19% | |||
| Total management fees paid for the year |
$ | 2,181,795 | ||
 |
 |
| (1) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class A Shares |
$114 | 1.10% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Wisconsin Municipal Bond Fund returned 7.98% for Class A Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Wisconsin Index, which returned 6.74%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds. • Credit-quality positioning, especially an overweight to BBB-rated bonds. • Sector positioning, especially an overweight to appropriation, health care and housing bonds and an underweight to state general obligation bonds. • Security selection, especially among non-rated and out-of-state bonds. Top detractors from relative performance • Overweights to dedicated-tax and utility bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class A Shares at NAV (excluding maximum sales charge) |
7.98 | % | 0.98 | % | 2.08 | % | ||||||
| Class A Shares at maximum sales charge (Offering Price) |
3.49 | % | 0.11 | % | 1.65 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Wisconsin Index |
6.74 | % | 1.45 | % | 2.42 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 102,921,015 | ||
| Total number of portfolio holdings |
91 | |||
| Portfolio turnover (%) |
8% | |||
| Total management fees paid for the year |
$ | 413,794 | ||
 |
 |
| (1) | Affiliated investment. |
| (2) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
| (3) | Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class C Shares |
$197 | 1.90% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Wisconsin Municipal Bond Fund returned 7.12% for Class C Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Wisconsin Index, which returned 6.74%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds. • Credit-quality positioning, especially an overweight to BBB-rated bonds. • Sector positioning, especially an overweight to appropriation, health care and housing bonds and an underweight to state general obligation bonds. • Security selection, especially among non-rated and out-of-state bonds. Top detractors from relative performance • Overweights to dedicated-tax and utility bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class C Shares at NAV (excluding maximum sales charge) |
7.12 | % | 0.17 | % | 1.44 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Wisconsin Index |
6.74 | % | 1.45 | % | 2.42 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 102,921,015 | ||
| Total number of portfolio holdings |
91 | |||
| Portfolio turnover (%) |
8% | |||
| Total management fees paid for the year |
$ | 413,794 | ||
 |
 |
| (1) | Affiliated investment. |
| (2) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
| (3) | Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)
| Cost of a $10,000 investment | Costs paid as a percentage of $10,000 investment* | |||
| Class I Shares |
$94 | 0.90% | ||
| * | Annualized for period less than one year. |
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights The Nuveen Wisconsin Municipal Bond Fund returned 8.17% for Class I Shares at net asset value (NAV) for the 12 months ended May 31, 2026. The Fund outperformed the S&P Municipal Bond Wisconsin Index, which returned 6.74%. Top contributors to relative performance • Duration positioning, especially an overweight to longer-duration bonds. • Credit-quality positioning, especially an overweight to BBB-rated bonds. • Sector positioning, especially an overweight to appropriation, health care and housing bonds and an underweight to state general obligation bonds. • Security selection, especially among non-rated and out-of-state bonds. Top detractors from relative performance • Overweights to dedicated-tax and utility bonds. |
Average Annual Total Returns
| 1-Year | 5-Year | 10-Year | ||||||||||
| Class I Shares at NAV |
8.17 | % | 1.16 | % | 2.27 | % | ||||||
| S&P Municipal Bond Index |
6.57 | % | 1.14 | % | 2.30 | % | ||||||
| S&P Municipal Bond Wisconsin Index |
6.74 | % | 1.45 | % | 2.42 | % | ||||||
| Lipper Other States Municipal Debt Funds Classification Average |
7.08 | % | 0.43 | % | 1.54 | % | ||||||
Fund Statistics (as of May 31, 2026)
| Fund net assets |
$ | 102,921,015 | ||
| Total number of portfolio holdings |
91 | |||
| Portfolio turnover (%) |
8% | |||
| Total management fees paid for the year |
$ | 413,794 | ||
 |
 |
| (1) | Affiliated investment. |
| (2) | The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies. |
| (3) | Total investments include the Fund’s assets attributable to financial leverage. For these purposes, financial leverage includes the Fund’s investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities. |
How has the Fund changed?
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
For more complete information, you may review the Fund’s next prospectus, which is expected to be available by September 30, 2026 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.
| [1] | Annualized for period less than one year. |
| [2] | Annualized for period less than one year. |
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