Nuveen Municipal Credit Income Fund (NZF)

FairStock Score: 43/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at NZF not as an operating business but as a closed-end municipal bond fund. It owns U.S. municipal securities, generally investment grade Baa/BBB or better, and aims to pay income exempt from regular federal tax. The appeal is straightforward: at the 2026-10-13 close of $10.92, the shares yield 8.34%, trade at a FairStock P/B of 0.87, and show a FairStock P/E of 12.00. FairStock's Graham Number is $16.23, implying a 32.72% margin of safety. Beta is 0.74, so the price has been less volatile than the market. But a fund is only as good as its portfolio and its leverage. D/E is 0.68, which can amplify both income and losses. ROE is 7.26%, while ROCE is 2.71%, modest for a leveraged credit vehicle. FairStock's health checks are poor: Piotroski 1/9 and Altman Z 0.79. The FairStock score is 43/100. The 52-week range is $10.45 to $13.02, so today's price sits near the low end. I see no traditional moat; Nuveen's scale and distribution are helpful, but muni credit and duration risk dominate. Growth is unproven: revenue and profit growth are not available, and the Lynch category is none because there are only 0 years of filed results, needing 3. That lack of history matters. The discount and high tax-free yield are attractive if credit remains stable, but leverage, weak scores, and an unproven filing record argue for caution. Price looks cheap on book and Graham math, but not without risk.

In plain English: The fund owns U.S. state and local government debt and aims to pay income that is free from regular federal tax. Its shares yield about 8%, trade below their accounting value, and have been less jumpy than the broad market. The numbers show modest profitability and weak safety scores, so the cheap-looking price comes with real risk.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer