Nuveen Variable Rate Pref & Inc Fund:NPFD

    Manage Alerts

    Overview

    As of 9/29/2023

     Share
    Price    		NAVPremium/
    Discount
    Current$15.67$18.44-15.02%
    52 Wk Avg$16.64$18.95-12.29%
    52 Wk High$19.22$21.16-6.49%
    52 Wk Low$14.50$16.98-16.51%
    Regular Distribution Type†Income Only
    Distribution Rate6.62%
    Distribution Amount$0.0865
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    To seek to provide a high level of current income and total return by investing in a portfolio of variable rate preferred securities and other variable rate income producing securities. The Fund’s portfolio will be actively managed to capitalize on the relative value opportunities of different instrument types, including but not limited to securities with different variable rate coupon structures, and to invest in securities so that all, or almost all, of the Fund’s distributions of net investment income will be treated as qualified dividend income (“QDI”).

    Capital Structure

    As of 9/29/2023

    Total Investment Exposure:$706.184M
    Total Common Assets:$445.587M
    Common Shares Outstanding:24,164,141
    Leverage

    As of 9/29/2023

    Preferred Share Assets:
    Total Debt (USD): $260.597M
    Regulatory Leverage (USD): $260.597M
    Effective Leverage (USD): $260.597M
    Effective Leverage (%): 36.90%
    Annual Expense Ratios

    As of 12/31/2022

      Per Common Share
    Management FeesN/A
    Other Expenses:N/A
    Baseline Expense: N/A
    Interest Expense:N/A
    Total: 2.13%
    Fund Management

    Fund Sponsor
    Nuveen Fund Advisors, LLC.

    Portfolio Managers
    Douglas M. Baker, Brenda A. Langenfeld

    Basics
    Category: Fixed Income - Taxable-Preferreds
    Ticker: NPFD
    NAV Ticker: XNPFX
    Average Daily Volume (shares): 90,132
    Average Daily Volume (USD): $1.510M
    Inception Date: 12/15/2021
    Inception Share Price: $25.00
    Inception NAV: $25.00
    Tender Offer: No
    Term: No
    Fiscal Year End: December 31
    Third Party Links & Reports

    Distributions

    As of 9/29/2023

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    to
    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions†
    Avg. Earnings Per Share:
    As of 1/31/2023    		 $0.3831
    Annualized Distribution Rate on NAV:
    As of 9/29/2023    		5.63%
    Total Return on NAV (12 months):
    As of 9/29/2023    		1.96%
    Avg. Portfolio Coupon:
    As of 9/29/2023    		 6.70%
    Total % Portfolio Effectively Leveraged:
    As of 9/29/2023     		36.90%

    For the latest UNII information on this fund, please visit the Nuveen fund resources.

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 10/2/2023

    PeriodAvg Discount
    6 Month-14.28%
    1 Year-12.29%
    3 Year 
    5 Year 
    Z-Score

    As of 9/29/2023

    PeriodZStat
    3 Month-1.46
    6 Month-0.72
    1 Year-1.13
    Pricing History
     from  
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 9/30/2023
    Category: Morningstar US CEF Preferreds

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD-6.27%-0.84%-5.42%-1.18%
    2022-25.28%-16.88%-22.47%-15.85%
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 9/30/2023
    Category: Morningstar US CEF Preferreds

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 9/29/2023    		6.70%
    Number of Holdings:
    As of 8/31/2023    		182
    Annual Portfolio Turnover:
    As of 12/31/2022    		14.00%
    Pre-Refunded:
    		0.00%
    Average Bond Price:
    As of 8/31/2023    		$94.03
    Asset Allocation

    As of 8/31/2023

    Top Sectors

    As of 8/31/2023

    Sector%Portfolio
    Corporate (Super Sector)95.18%
    Corporate Bond77.07%
    Preferred Stock18.01%
    Convertible0.09%
    Government Related0.01%
    Government (Super Sector)0.01%
    Call Exposure

    As of 8/31/2023

    Top Holdings

    As of 8/31/2023

    HoldingValue% Portfolio
    JPMorgan Chase & Co DR$16.95M2.43%
    Citigroup Inc. 6.3%$16.70M2.40%
    Emera Inc 6.75%$13.53M1.94%
    AerCap Holdings N.V. 5.88%$13.42M1.93%
    The Charles Schwab Corporation 5.38%$12.67M1.82%
    Bank of America Corporation 6.5%$10.64M1.53%
    Wells Fargo & Co New 7.63%$10.59M1.52%
    General Motors Financial Company Inc 5.75%$10.11M1.45%
    Vodafone Group PLC 7%$10.07M1.45%
    Markel Group Inc 6%$10.03M1.44%
    Credit Quality

    As of 8/31/2023

    Maturity Breakdown

    As of 8/31/2023

    Country Allocation

    As of 8/31/2023

    Country% Portfolio
    United Kingdom - Fixed Income6.38%
    United States - Fixed Income5.55%
    Canada - Fixed Income4.72%
    France - Fixed Income3.89%
    Ireland - Fixed Income2.81%
    Australia - Fixed Income2.23%
    Netherlands - Fixed Income1.46%
    Switzerland - Fixed Income1.34%
    Germany - Fixed Income0.77%
    Spain - Fixed Income0.73%
    Chile - Fixed Income0.60%
    Italy - Fixed Income0.46%
    Finland - Fixed Income0.25%
    Denmark - Fixed Income0.24%
    Mexico - Fixed Income0.21%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

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

    The following information applies to closed-end funds 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. Shares of closed-end funds 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 frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    E-2949862P-E0623W

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