ETF Report: Nuveen Preferred and Income Term Fund (JPI)

What this ETF is trying to do

The Nuveen Preferred and Income Term Fund, known by its ticker symbol JPI, is an ETF listed on the NYSE. This type of fund focuses on providing income to its investors.

What the numbers show

As of September 19, 2025, the current price of one share is $20.68. Looking at how the price has changed over time, the price has grown by about 3.19% over the last year.

If you look at "total return," which includes both price changes and the money paid out to investors, the numbers are higher. The one-year total return is 13.81%, and the three-year total return is 35.21%. This shows that the fund has grown significantly over a longer period.

Income and distribution explanation

This ETF is designed to pay out money regularly. Over the last 12 months, it paid out a total of $1.992 per share. It usually makes these payments every month, with 12 payouts recorded in the last year. The "distribution yield" is 9.63%, which tells you how much income the fund pays relative to its price.

It is important to remember that a high yield alone can be misleading. A high percentage might look good, but it does not tell the whole story about whether the fund's value is staying healthy.

NAV erosion explanation

"NAV erosion" happens when the actual value of the fund (the Net Asset Value) drops over time because the fund is paying out more money than it is earning. If a fund's share price falls from a high price to a much lower price, it can destroy your principal. Principal is the original money you put in.

However, for JPI, no price erosion has been detected. The "erosion score" is 100, which means the price is not being eaten away by its own payouts.

Pros

• The fund provides regular monthly income.

• The total return over three years has been quite high at 35.21%.

• There is no sign of severe price erosion.

Cons

• The price itself does not grow as fast as the total return because much of the value comes from the payouts.

Beginner takeaway

Income investors usually prefer ETFs that go sideways (stay at the same price) or move slightly up. They prefer this because they want to keep their original investment safe while collecting checks. If an ETF's price collapses, you might lose more money in value than you gain from the income payments.

To see how price affects your money, imagine you invested $10,000 one year ago when the estimated price was about $20.04. If the price had stayed exactly the same, you would still have $10,000. Because this fund's price actually went up slightly to $20.68, your $10,000 investment grew in value before even counting the monthly income payments.