Shareholder Report
Mar. 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* | |||
| Nuveen High Yield Municipal Income ETF |
$36 | 0.35% | ||
* Annualized for period less than one year.
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights • The Nuveen High Yield Municipal Income ETF returned 3.54% for Common Shares at net asset value (NAV) for the 12 months ended March 31, 2026. The Fund performed in line with the S&P Municipal Yield Index, which returned 3.63%. • Top contributors to relative performance • Underweight to bonds with durations less than six years. • Overweight to bonds rated AAA, A and BBB, as well as an underweight to bonds rated BB and B. • Overweight to incremental tax bonds. • Security selection. • Top detractors from relative performance • Underweight to the health care sector. • Underweight to the housing sector. |
Average Annual Total Returns
| 1‑Year | Since Inception (1/22/25) | |||
| NAV |
3.54% | 2.97% | ||
| S&P Municipal Bond Index |
4.32% | 3.44% | ||
| S&P Municipal Yield Index |
3.63% | 3.06% | ||
Fund Statistics (as of March 31, 2026)
| Fund net assets |
$117,209,461 | |||
| Total number of portfolio holdings |
235 | |||
| Portfolio turnover (%) |
48% | |||
| Total management fees paid for the year |
$ 319,658 | |||
| (1) | The ratings disclosed are the lowest 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 July 31, 2026 at https://www.nuveen.com/en‑us/exchange‑traded‑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 July 31, 2026 at https://www.nuveen.com/en‑us/exchange‑traded‑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* | |||
| Nuveen Municipal Income ETF |
$31 | 0.30% | ||
* Annualized for period less than one year.
How did the Fund perform last year? What affected the Fund’s performance?
| Performance Highlights • The Nuveen Municipal Income ETF returned 4.38% for Common Shares at net asset value (NAV) for the 12 months ended March 31, 2026. The Fund performed in line with the S&P Municipal Bond Index, which returned 4.32%. • Top contributors to relative performance • Underweight to bonds with durations less than two years and overweight in bonds with durations greater than eight years. • Underweight to tobacco settlement bonds. • Security selection. • Top detractors from relative performance • Sector allocations in housing, industrial development revenue, transportation and health care. • Overweight to non‑rated bonds and an underweight to AAA‑rated and AA‑rated bonds. |
Average Annual Total Returns
| 1‑Year | Since Inception (1/22/25) | |||
| NAV |
4.38% | 3.06% | ||
| S&P Municipal Bond Index |
4.32% | 3.44% | ||
Fund Statistics (as of March 31, 2026)
| Fund net assets |
$76,544,211 | |||
| Total number of portfolio holdings |
260 | |||
| Portfolio turnover (%) |
81% | |||
| Total management fees paid for the year |
$ 188,956 | |||
| (1) | The ratings disclosed are the lowest 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 July 31, 2026 at https://www.nuveen.com/en‑us/exchange‑traded‑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 July 31, 2026 at https://www.nuveen.com/en‑us/exchange‑traded‑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. |