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Critical Facts You Need to Know About Preferred Stocks
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Nuveen Preferred Securities and Income Fund
mutual fund
NPSCX
Payout Change
No Change
Price as of:
$15.7
+0.0
+0.0%
primary theme
Preferred Stock
share class
NPSCX (Mutual Fund)
Nuveen Preferred Securities and Income Fund
Payout Change
No Change
Price as of:
$15.7
+0.0
+0.0%
primary theme
Preferred Stock
share class
NPSCX (Mutual Fund)
Nuveen Preferred Securities and Income Fund
Payout Change
No Change
Price as of:
$15.7
+0.0
+0.0%
primary theme
Preferred Stock
share class
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
9.4%
1 yr return
12.0%
3 Yr Avg Return
1.1%
5 Yr Avg Return
2.4%
Net Assets
$4.83 B
Holdings in Top 10
20.5%
52 WEEK LOW AND HIGH
$15.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.76%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 14.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$3,000
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
NPSCX - Profile
Distributions
- YTD Total Return 9.4%
- 3 Yr Annualized Total Return 1.1%
- 5 Yr Annualized Total Return 2.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.57%
- Dividend Yield 4.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameNuveen Preferred Securities and Income Fund
-
Fund Family NameNuveen Funds
-
Inception DateDec 19, 2006
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDouglas Baker
Fund Description
Under normal circumstances, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in preferred securities and other income producing securities. The Fund may invest in all types of preferred securities, including both perpetual preferred securities and hybrid securities. Perpetual preferred securities are generally equity securities of the issuer that have priority over the issuer’s common shares as to the payment of dividends (i.e., the issuer cannot pay dividends on its common shares until the dividends on the preferred shares are current) and as to the payout of proceeds of a bankruptcy or other liquidation, but are subordinate to an issuer’s senior debt and junior debt as to both types of payments. Additionally, in a bankruptcy or other liquidation, perpetual preferred securities are generally subordinate to an issuer’s trade creditors and other general obligations. Perpetual preferred securities typically have a fixed liquidation (or “par”) value.
The term “preferred securities” also includes hybrid securities and other types of preferred securities that do not have the features described above. Preferred securities that are hybrid securities often behave similarly to investments in perpetual preferred securities and are regarded by market investors as being part of the preferred securities market. Such hybrid securities possess varying combinations of features of both debt and perpetual preferred securities and as such they may constitute senior debt, junior debt or preferred shares in an issuer’s capital structure.
The term “preferred securities” also includes certain forms of debt that are regarded by the investment marketplace to be part of the broader preferred securities market. Among these preferred securities are certain exchange-listed debt issues that historically have several attributes, including trading and investment performance characteristics, in common with exchange-listed perpetual preferred securities and hybrid securities. Generally, these types of preferred securities are senior debt in the capital structure of an issuer.
The Fund may also invest in income producing securities that are not preferred securities. These include contingent capital securities (sometimes referred to as “CoCos”), which are hybrid securities, issued primarily by non-U.S. financial institutions, that have loss absorption mechanisms benefitting the issuer built into their terms. These loss absorption mechanisms may include automatic conversion into the issuer’s common stock or an automatic write down of the security’s principal amount upon the occurrence of a specified trigger or event. In addition, although the Fund will invest primarily in preferred securities and CoCos, it may invest up to 20% of its net assets, in the aggregate, in corporate debt securities, U.S. government securities (including securities issued or guaranteed by U.S. government agencies and instrumentalities) and taxable municipal securities.
The Fund may also invest in preferred securities or CoCos that are convertible into common stock.
The Fund normally invests at least 50% of its net assets in securities rated investment grade (BBB/Baa or higher) at the time of purchase by at least one independent rating agency and unrated securities judged to be of comparable quality by the Fund’s portfolio managers. The Fund may invest up to 50% of its net assets in securities rated below investment grade (BB/Ba or lower) or unrated securities judged to be of comparable quality by the Fund’s portfolio managers at the time of purchase, which are commonly referred to as “high yield” securities or “junk” bonds. The Fund may also invest in U.S. dollar-denominated securities issued by non-U.S. companies.
The Fund may invest in securities that have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) (“restricted securities”), including securities sold in private placement transactions between issuers and their purchasers and securities that meet the requirements of Rule 144A under the Securities Act (“Rule 144A securities”). Rule 144A securities may be resold under certain circumstances only to qualified institutional buyers as defined by the rule.
The Fund intends to invest at least 25% of its assets in the securities of companies principally engaged in financial services.
The Fund’s sub-adviser considers several factors in constructing the Fund’s portfolio of preferred securities, including credit risk, diversification, preferred sub-market analysis, call protection and yield curve analysis. From this analysis, the
Fund’s sub-adviser builds a portfolio of securities that it believes offers the most attractive mix of value relative to securities with similar credit ratings, current income and call protection.
NPSCX - Performance
Return Ranking - Trailing
| Period | NPSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.4% | 5.2% | 19.3% | 76.32% |
| 1 Yr | 12.0% | 7.5% | 25.2% | 80.26% |
| 3 Yr | 1.1%* | -7.0% | 6.8% | 55.71% |
| 5 Yr | 2.4%* | -4.7% | 11.2% | 53.73% |
| 10 Yr | 3.7%* | 0.9% | 5.2% | 54.35% |
* Annualized
Return Ranking - Calendar
| Period | NPSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.1% | -3.6% | 14.2% | 85.53% |
| 2022 | -14.6% | -29.4% | -9.6% | 14.29% |
| 2021 | 0.3% | -3.4% | 17.2% | 35.71% |
| 2020 | 0.0% | -24.8% | 9.0% | 74.63% |
| 2019 | 11.3% | 6.4% | 19.1% | 61.90% |
Total Return Ranking - Trailing
| Period | NPSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.4% | 5.2% | 19.3% | 76.32% |
| 1 Yr | 12.0% | 7.5% | 25.2% | 80.26% |
| 3 Yr | 1.1%* | -7.0% | 6.8% | 55.71% |
| 5 Yr | 2.4%* | -4.7% | 11.2% | 53.73% |
| 10 Yr | 3.7%* | 0.9% | 5.2% | 54.35% |
* Annualized
Total Return Ranking - Calendar
| Period | NPSCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.0% | -1.9% | 26.5% | 80.26% |
| 2022 | -10.7% | -26.0% | -5.8% | 21.43% |
| 2021 | 4.4% | -2.5% | 27.4% | 40.00% |
| 2020 | 4.8% | -19.2% | 12.3% | 64.18% |
| 2019 | 17.0% | 10.0% | 32.0% | 65.08% |
NAV & Total Return History
NPSCX - Holdings
Concentration Analysis
| NPSCX | Category Low | Category High | NPSCX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.83 B | 24.1 M | 14.5 B | 25.00% |
| Number of Holdings | 239 | 49 | 444 | 30.26% |
| Net Assets in Top 10 | 991 M | 13.2 M | 2.1 B | 15.79% |
| Weighting of Top 10 | 20.53% | 11.1% | 48.1% | 44.74% |
Top 10 Holdings
- US 10YR NOTE (CBT)Dec24 6.23%
- State Street Navigator Securities Lending Government Money Market Portfolio 2.01%
- Barclays PLC 1.82%
- US LONG BOND(CBT) Dec24 1.71%
- Banco Santander SA 1.53%
- US ULTRA BOND CBT Dec24 1.52%
- JPMorgan Chase Co 1.50%
- UBS Group AG 1.49%
- BNP Paribas SA 1.38%
- Societe Generale SA 1.34%
Asset Allocation
| Weighting | Return Low | Return High | NPSCX % Rank | |
|---|---|---|---|---|
| Bonds | 84.79% | 0.00% | 97.75% | 32.89% |
| Convertible Bonds | 28.65% | 0.00% | 31.65% | 17.81% |
| Preferred Stocks | 12.10% | 0.00% | 125.69% | 72.37% |
| Other | 10.15% | -4.40% | 10.15% | 5.26% |
| Cash | 2.01% | -0.02% | 11.04% | 51.32% |
| Stocks | 0.00% | 0.00% | 29.42% | 78.95% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | NPSCX % Rank | |
|---|---|---|---|---|
| Corporate | 98.24% | 62.31% | 100.00% | 34.25% |
| Derivative | 9.46% | -0.62% | 9.46% | 5.26% |
| Cash & Equivalents | 2.01% | 0.00% | 11.04% | 51.32% |
| Government | 0.73% | 0.00% | 21.71% | 20.55% |
| Securitized | 0.00% | 0.00% | 0.00% | 64.38% |
| Municipal | 0.00% | 0.00% | 0.00% | 64.38% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | NPSCX % Rank | |
|---|---|---|---|---|
| US | 84.79% | 0.00% | 97.61% | 31.58% |
| Non US | 0.00% | 0.00% | 22.53% | 81.58% |
NPSCX - Expenses
Operational Fees
| NPSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.76% | 0.05% | 4.46% | 24.00% |
| Management Fee | 0.65% | 0.00% | 1.00% | 43.42% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 90.32% |
| Administrative Fee | N/A | 0.01% | 0.55% | N/A |
Sales Fees
| NPSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 1.00% | 66.67% |
Trading Fees
| NPSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| NPSCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 14.00% | 12.00% | 199.00% | 12.12% |
NPSCX - Distributions
Dividend Yield Analysis
| NPSCX | Category Low | Category High | NPSCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.82% | 0.00% | 9.59% | 59.21% |
Dividend Distribution Analysis
| NPSCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| NPSCX | Category Low | Category High | NPSCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.57% | 0.88% | 7.54% | 63.89% |
Capital Gain Distribution Analysis
| NPSCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 30, 2024 | $0.063 | OrdinaryDividend |
| Nov 29, 2024 | $0.063 | OrdinaryDividend |
| Oct 31, 2024 | $0.064 | OrdinaryDividend |
| Sep 30, 2024 | $0.064 | OrdinaryDividend |
| Aug 30, 2024 | $0.064 | OrdinaryDividend |
| Jul 31, 2024 | $0.064 | OrdinaryDividend |
| Jun 28, 2024 | $0.064 | OrdinaryDividend |
| May 31, 2024 | $0.064 | OrdinaryDividend |
| Apr 30, 2024 | $0.064 | OrdinaryDividend |
| Mar 29, 2024 | $0.064 | OrdinaryDividend |
| Feb 29, 2024 | $0.064 | OrdinaryDividend |
| Jan 31, 2024 | $0.064 | OrdinaryDividend |
| Dec 28, 2023 | $0.064 | OrdinaryDividend |
| Nov 30, 2023 | $0.064 | OrdinaryDividend |
| Oct 31, 2023 | $0.061 | OrdinaryDividend |
| Sep 29, 2023 | $0.061 | OrdinaryDividend |
| Aug 31, 2023 | $0.061 | OrdinaryDividend |
| Jul 31, 2023 | $0.061 | OrdinaryDividend |
| Jun 30, 2023 | $0.061 | OrdinaryDividend |
| May 31, 2023 | $0.061 | OrdinaryDividend |
| Apr 28, 2023 | $0.061 | OrdinaryDividend |
| Mar 31, 2023 | $0.061 | OrdinaryDividend |
| Feb 28, 2023 | $0.061 | OrdinaryDividend |
| Jan 31, 2023 | $0.061 | OrdinaryDividend |
| Dec 29, 2022 | $0.061 | OrdinaryDividend |
| Nov 30, 2022 | $0.061 | OrdinaryDividend |
| Oct 31, 2022 | $0.060 | OrdinaryDividend |
| Sep 30, 2022 | $0.060 | OrdinaryDividend |
| Aug 31, 2022 | $0.060 | OrdinaryDividend |
| Jul 29, 2022 | $0.059 | OrdinaryDividend |
| Jun 30, 2022 | $0.059 | OrdinaryDividend |
| May 31, 2022 | $0.059 | OrdinaryDividend |
| Apr 29, 2022 | $0.059 | OrdinaryDividend |
| Mar 31, 2022 | $0.059 | OrdinaryDividend |
| Feb 28, 2022 | $0.059 | OrdinaryDividend |
| Jan 31, 2022 | $0.058 | OrdinaryDividend |
| Dec 30, 2021 | $0.058 | OrdinaryDividend |
| Nov 30, 2021 | $0.058 | OrdinaryDividend |
| Oct 30, 2021 | $0.058 | OrdinaryDividend |
| Sep 30, 2021 | $0.058 | OrdinaryDividend |
| Jul 30, 2021 | $0.059 | OrdinaryDividend |
| Jun 30, 2021 | $0.059 | OrdinaryDividend |
| May 28, 2021 | $0.059 | OrdinaryDividend |
| Apr 30, 2021 | $0.059 | OrdinaryDividend |
| Mar 31, 2021 | $0.059 | OrdinaryDividend |
| Feb 26, 2021 | $0.059 | OrdinaryDividend |
| Jan 29, 2021 | $0.059 | OrdinaryDividend |
| Dec 31, 2020 | $0.059 | OrdinaryDividend |
| Nov 30, 2020 | $0.059 | OrdinaryDividend |
| Oct 30, 2020 | $0.060 | OrdinaryDividend |
| Sep 30, 2020 | $0.060 | OrdinaryDividend |
| Aug 31, 2020 | $0.060 | OrdinaryDividend |
| Jul 31, 2020 | $0.060 | OrdinaryDividend |
| Jun 30, 2020 | $0.060 | OrdinaryDividend |
| May 29, 2020 | $0.060 | OrdinaryDividend |
| Apr 30, 2020 | $0.059 | OrdinaryDividend |
| Mar 31, 2020 | $0.059 | OrdinaryDividend |
| Feb 28, 2020 | $0.059 | OrdinaryDividend |
| Jan 31, 2020 | $0.064 | OrdinaryDividend |
| Dec 31, 2019 | $0.064 | OrdinaryDividend |
| Nov 29, 2019 | $0.064 | OrdinaryDividend |
| Oct 31, 2019 | $0.065 | OrdinaryDividend |
| Sep 30, 2019 | $0.065 | OrdinaryDividend |
| Aug 30, 2019 | $0.065 | OrdinaryDividend |
| Jul 31, 2019 | $0.065 | OrdinaryDividend |
| Jun 28, 2019 | $0.065 | DailyAccrualFund |
| Dec 15, 2015 | $0.070 | CapitalGainLongTerm |
| Dec 15, 2014 | $0.090 | CapitalGainLongTerm |
| Dec 13, 2013 | $0.340 | CapitalGainLongTerm |
| Dec 14, 2012 | $0.019 | CapitalGainShortTerm |
| Dec 14, 2012 | $0.146 | CapitalGainLongTerm |
| Dec 14, 2010 | $0.296 | CapitalGainShortTerm |
| Dec 14, 2010 | $0.125 | CapitalGainLongTerm |
| Mar 31, 2010 | $0.085 | OrdinaryDividend |
| Feb 26, 2010 | $0.085 | OrdinaryDividend |
| Jan 29, 2010 | $0.085 | OrdinaryDividend |
| Dec 24, 2009 | $0.085 | OrdinaryDividend |
| Nov 30, 2009 | $0.085 | OrdinaryDividend |
| Oct 30, 2009 | $0.089 | OrdinaryDividend |
| Sep 30, 2009 | $0.089 | OrdinaryDividend |
| Aug 31, 2009 | $0.089 | OrdinaryDividend |
| Jul 31, 2009 | $0.090 | OrdinaryDividend |
| Jun 30, 2009 | $0.090 | OrdinaryDividend |
| May 29, 2009 | $0.090 | OrdinaryDividend |
| Apr 30, 2009 | $0.090 | OrdinaryDividend |
| Mar 31, 2009 | $0.090 | OrdinaryDividend |
| Feb 27, 2009 | $0.090 | OrdinaryDividend |
| Jan 30, 2009 | $0.090 | OrdinaryDividend |
| Dec 24, 2008 | $0.090 | OrdinaryDividend |
| Nov 28, 2008 | $0.090 | OrdinaryDividend |
| Oct 31, 2008 | $0.087 | OrdinaryDividend |
| Sep 30, 2008 | $0.087 | OrdinaryDividend |
| Aug 29, 2008 | $0.095 | OrdinaryDividend |
| Jul 31, 2008 | $0.095 | OrdinaryDividend |
| Jun 30, 2008 | $0.095 | OrdinaryDividend |
| May 30, 2008 | $0.095 | OrdinaryDividend |
| Apr 30, 2008 | $0.095 | OrdinaryDividend |
| Mar 31, 2008 | $0.095 | OrdinaryDividend |
| Feb 29, 2008 | $0.095 | OrdinaryDividend |
| Jan 31, 2008 | $0.094 | OrdinaryDividend |
| Dec 24, 2007 | $0.094 | OrdinaryDividend |
| Nov 29, 2007 | $0.094 | OrdinaryDividend |
NPSCX - Fund Manager Analysis
Managers
Douglas Baker
Start Date
Tenure
Tenure Rank
Dec 19, 2006
15.46
15.5%
Mr. Baker is the head of the Preferred Securities Sector Team and a member of the Fixed Income Strategy Committee, which establishes investment policy for all taxable fixed income products. He co-leads the taxable fixed income credit oversight process, which provides a structure for implementing credit strategy across taxable fixed income. As a senior fixed income portfolio manager, he is the lead manager for Nuveen Asset Management’s Preferred Securities related strategies, as well as a co-portfolio manager for the Multi-Sector, Core Plus Bond, and Inflation Protected Municipal Bond strategie
Brenda Langenfeld
Start Date
Tenure
Tenure Rank
Jan 31, 2012
10.34
10.3%
Brenda A. Langenfeld, CFA, entered the financial services industry in 2004. She has been a Vice President and Portfolio Manager at Nuveen Asset Management since joining the firm in 2011. She was named Co-Portfolio Manager of the Preferred Securities strategy in January 2012. In April 2015, she was named Co-Portfolio Manager of the Real Asset Income strategy. She was named Senior Vice President in March 2017. In March 2019, she was named Managing Director.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 30.32 | 7.57 | 11.42 |
