Nuveen AMT-Free Municipal Credit Income Fund (NVG)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Nuveen AMT-Free Municipal Credit Income Fund (NVG) trades at $12.84 with AI Score 49/100 (Grade C). Nuveen AMT-Free Municipal Credit Income Fund is a closed-end fund focusing on tax-exempt municipal securities. Market cap: $2.74B, Sector: Financial services.
Price live · AI analysis from Mar 18, 2026Analyst Coverage for NVG: NVG does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates NVG against Financial Services peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
NVG: the 1 perspectives are evenly split.
How is this calculated? →Nuveen AMT-Free Municipal Credit Income Fund (NVG) Financial Services Profile
Nuveen AMT-Free Municipal Credit Income Fund is a closed-end fund specializing in U.S. fixed-income markets, offering investors exposure to undervalued municipal securities exempt from federal income taxes. With a focus on securities rated Baa/BBB or better, the fund aims to deliver consistent income through strategic asset allocation and fundamental analysis.
What Is the Investment Thesis for NVG?
Nuveen AMT-Free Municipal Credit Income Fund presents a notable research candidate for income-seeking investors due to its focus on tax-exempt municipal bonds. With a dividend yield of 7.47%, the fund offers a substantial income stream. The fund's strategy of investing in bonds rated Baa/BBB or better provides a degree of credit quality, although it does expose the fund to some credit risk. The fund's profit margin of 25.0% indicates efficient management and profitability. Ongoing: The fund's performance is closely tied to interest rate movements and credit spreads in the municipal bond market. Upcoming: Any changes to federal tax policies could impact the attractiveness of municipal bonds, influencing investor demand and fund performance.
Based on FMP financials and quantitative analysis
NVG Key Highlights
- Market capitalization of $2.74B, indicating substantial size and liquidity.
- P/E ratio of 47.49, reflecting investor expectations and market valuation.
- Profit margin of 25.0%, demonstrating the fund's ability to generate profits from its investments.
- Gross margin of 81.5%, highlighting efficient management of investment-related expenses.
- Dividend yield of 7.47%, offering a significant income stream to investors.
Who Are NVG's Competitors?
NVG is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ETY Eaton Vance Tax-Managed Diversified Equity Income Fund | $14.61 | +0.21% | $2.33B | 44 |
| EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund | $9.86 | +0.72% | $3.02B | 54 |
| JPC Nuveen Preferred & Income Opportunities Fund | $7.85 | -0.25% | $2.95B | 58 |
| NAD Nuveen Quality Municipal Income Fund | $12.07 | +0.12% | $2.82B | 48 |
| LGI Lazard Global Total Return and Income Fund, Inc. | $18.68 | +0.35% | $243.15M | 67 |
| BKT BlackRock Income Trust, Inc. | $10.68 | +0.42% | $259.31M | 66 |
| AEUDX American Century Equity Income Fund R6 Class | $9.28 | +1.31% | $6.39B | 65 |
| TWEIX American Century Equity Income Investor Class | $9.22 | -0.32% | 7B | 65 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are NVG's Key Strengths?
- High dividend yield of 7.47%.
- Focus on tax-exempt municipal bonds.
- Managed by experienced investment professionals at Nuveen.
- Established track record since 1999.
What Are NVG's Weaknesses?
- Exposure to interest rate risk.
- Credit risk associated with Baa/BBB rated bonds.
- Reliance on the municipal bond market.
- Potential impact from changes in tax laws.
What Could Drive NVG Stock Higher?
- Continued demand for tax-exempt income driving investment into municipal bond funds.
- Active portfolio management by Nuveen to capitalize on market opportunities.
- Potential changes in tax legislation impacting the attractiveness of municipal bonds.
- Interest rate movements affecting the value of fixed-income securities.
What Are the Key Risks for NVG?
- Financial-distress signal — its Altman Z-Score of 1.20 sits in the distress zone (elevated bankruptcy risk).
- Rising interest rates reducing the value of existing bond holdings.
- Economic downturn leading to credit downgrades or defaults on municipal bonds.
- Changes in federal tax policies reducing the attractiveness of municipal bonds.
- Market volatility impacting the fund's net asset value (NAV).
What Are the Growth Opportunities for NVG?
- Growth opportunity 1: Increasing demand for tax-exempt income: As tax rates potentially rise, the demand for municipal bonds, which offer tax-exempt income, is likely to increase. This trend could drive more investment into funds like NVG, increasing its assets under management (AUM). The municipal bond market is estimated to be worth over $4 trillion, providing a substantial opportunity for growth. Timeline: Ongoing.
- Growth opportunity 2: Strategic portfolio management: Nuveen's expertise in actively managing its portfolio to capitalize on undervalued municipal securities can drive growth. By identifying and investing in bonds with strong credit profiles and attractive yields, the fund can enhance its performance and attract more investors. Timeline: Ongoing.
- Growth opportunity 3: Expansion of investment strategies: The fund could explore new investment strategies within the municipal bond market, such as investing in specific sectors or geographies that offer higher yields or growth potential. This diversification could attract a broader range of investors and enhance the fund's overall performance. Timeline: 1-3 years.
- Growth opportunity 4: Leveraging Nuveen's distribution network: Nuveen's established distribution network can be leveraged to market the fund to a wider audience of financial advisors and individual investors. By increasing awareness of the fund's benefits and track record, Nuveen can drive more inflows and grow the fund's AUM. Timeline: Ongoing.
- Growth opportunity 5: Adapting to regulatory changes: The fund can capitalize on regulatory changes in the municipal bond market, such as new disclosure requirements or tax law updates. By proactively adapting to these changes and positioning itself as a leader in compliance and transparency, the fund can attract investors who value stability and reliability. Timeline: Ongoing.
What Opportunities Does NVG Have?
- Increasing demand for tax-advantaged investments.
- Strategic portfolio management to enhance returns.
- Expansion into new sectors within the municipal bond market.
- Leveraging Nuveen's distribution network.
What Threats Does NVG Face?
- Rising interest rates.
- Economic downturn affecting municipal bond issuers.
- Changes in federal tax policies.
- Increased competition from other fixed-income funds.
What Are NVG's Competitive Advantages?
- Established track record in managing municipal bond portfolios.
- Expertise in fundamental analysis and bottom-up stock picking.
- Access to Nuveen's research and resources.
- Brand recognition and reputation in the closed-end fund market.
What Does NVG Do?
Nuveen AMT-Free Municipal Credit Income Fund, established on July 12, 1999, is a closed-end fixed income mutual fund managed by Nuveen Investments, Inc. The fund operates under the co-management of Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It focuses on investing in the fixed income markets of the United States, specifically targeting undervalued municipal securities and related investments that are exempt from regular federal income taxes. These securities typically hold a rating of Baa/BBB or better from Standard & Poor's (S&P), Moody's, or Fitch. The fund's investment strategy involves a fundamental analysis approach with bottom-up stock picking to construct its portfolio. The fund's objective is to provide a high level of current income that is exempt from federal income taxes, achieved through strategic investments in municipal bonds. The portfolio maintains an average maturity of approximately 17.02 years. Nuveen AMT-Free Municipal Credit Income Fund benchmarks its performance against the Standard & Poor's (S&P) Insured Municipal Bond Index. Historically, the fund was known as Nuveen Insured Dividend Advantage Municipal Fund and Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund before adopting its current name. The fund is domiciled in the United States and is designed to cater to investors seeking tax-advantaged income through municipal bond investments.
What Products and Services Does NVG Offer?
- Invests in fixed income markets within the United States.
- Focuses on undervalued municipal securities.
- Targets securities exempt from regular federal income taxes.
- Invests in bonds rated Baa/BBB or better by S&P, Moody's, or Fitch.
- Employs fundamental analysis with a bottom-up stock picking approach.
- Benchmarks performance against the S&P Insured Municipal Bond Index.
How Does NVG Make Money?
- Generates income through interest payments from municipal bonds.
- Manages a portfolio of municipal securities to maximize returns.
- Provides tax-exempt income to investors.
- Charges management fees for its services.
What Industry Does NVG Operate In?
Nuveen AMT-Free Municipal Credit Income Fund operates within the asset management industry, specifically focusing on fixed-income municipal bonds. The municipal bond market is influenced by factors such as interest rates, credit quality, and tax policies. The fund competes with other closed-end funds and ETFs that invest in municipal bonds, such as ACP-PA (Stone Harbor Income Opportunity Trust II), ETY (Eaton Vance Tax-Managed Yield Trust), EXG (Eaton Vance Tax-Managed Global Diversified Equity Income Fund), JPC (Nuveen Preferred & Income Opportunities Fund), and NAD (Nuveen Dividend Advantage Municipal Fund). Demand for municipal bonds is driven by investors seeking tax-exempt income, particularly in high-tax states.
Who Are NVG's Key Customers?
- Individual investors seeking tax-advantaged income.
- Financial advisors looking for fixed-income investment options for their clients.
- Institutions seeking stable returns from municipal bonds.
F-Score 6/9Financial Health
Nuveen AMT-Free Municipal Credit Income Fund's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.20 places it in the distress zone, a signal of elevated financial risk.
ROE 2%Key Financial Metrics
Return on equity for Nuveen AMT-Free Municipal Credit Income Fund stands at 2.1%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 1.2%, showing how much profit it generates from its asset base. NVG trades at a trailing price-to-earnings ratio of 47.40, above the Financial Services sector average of ~18x. Its free cash flow yield is 6.9%, a gauge of the cash the business throws off relative to its market value. A current ratio of 2.45 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 2.1%, the inverse of the P/E and a quick read on earnings relative to price.
Nuveen AMT-Free Municipal Credit Income Fund (NVG) Valuation Context
Valued at $2.74B, NVG is classified as a mid-cap stock. Relative to its peer group, NVG's quantitative score of 49/100 is roughly in line with the peer average of 54/100.
NVG Financials
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence from management in the fund's long-term strategy.
- Community sentiment has shifted positively, with discussions highlighting the fund's resilience in uncertain markets.
- Investors are increasingly attracted to municipal credit funds as a safe haven amid rising interest rates.
- The fund's focus on tax-exempt income appeals to investors looking for stable returns in a volatile environment.
Bear Case
- Concerns about rising interest rates could pressure the fund's performance and attractiveness to investors.
- Bearish sentiment is fueled by worries over potential credit downgrades in the municipal bond market.
- Recent discussions indicate skepticism about the fund's ability to maintain yield amid economic headwinds.
- Insider selling activity has raised red flags, suggesting some management may be less optimistic about future performance.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
NVG Latest News
No recent news available for NVG.
NVG Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for NVG.
Price Targets
Wall Street price target analysis for NVG.
NVG MoonshotScore
What does this score mean?
The MoonshotScore rates NVG's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
What Investors Ask About Nuveen AMT-Free Municipal Credit Income Fund (NVG) — Financial Services
What does Nuveen AMT-Free Municipal Credit Income Fund do?
Nuveen AMT-Free Municipal Credit Income Fund is a closed-end fund that invests primarily in municipal securities exempt from regular federal income taxes. The fund's objective is to provide a high level of current income consistent with capital preservation. It achieves this by strategically selecting undervalued municipal bonds rated Baa/BBB or better, employing a fundamental, bottom-up investment approach. The fund is managed by Nuveen, a well-established asset manager, and aims to deliver consistent, tax-advantaged returns to its investors through active portfolio management and credit analysis.
What are the main risks for NVG?
The primary risks for Nuveen AMT-Free Municipal Credit Income Fund include interest rate risk, credit risk, and market risk. Rising interest rates can negatively impact the value of the fund's bond holdings, potentially leading to capital losses. Credit risk refers to the possibility that municipal bond issuers may default on their obligations. Market risk encompasses broader economic and market factors that can affect the overall performance of the municipal bond market. Additionally, changes in federal tax policies could reduce the attractiveness of municipal bonds, impacting investor demand and fund performance.
What are the key factors to evaluate for NVG?
Nuveen AMT-Free Municipal Credit Income Fund (NVG) holds an AI score of 49/100 (low). Not financial advice.
How frequently does NVG data refresh on this page?
NVG prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven NVG's recent stock price performance?
Nuveen AMT-Free Municipal Credit Income Fund (NVG) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: High dividend yield of 7.47%. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider NVG overvalued or undervalued right now?
Valuing Nuveen AMT-Free Municipal Credit Income Fund (NVG) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying NVG?
Before investing in Nuveen AMT-Free Municipal Credit Income Fund (NVG), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding NVG to a portfolio?
Key strength of Nuveen AMT-Free Municipal Credit Income Fund (NVG): High dividend yield of 7.47%. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Data is based on information available as of 2026-03-18.
- AI analysis is pending and will provide further insights.
- Investment decisions should be based on thorough research and consultation with a financial advisor.