Understanding the Nuveen Massachusetts Quality Municipal Income Fund (NMT)

What this ETF is trying to do

The Nuveen Massachusetts Quality Municipal Income Fund, known by its ticker symbol NMT, is an exchange-traded fund (ETF). This type of fund focuses on municipal income. Generally, these funds aim to provide regular payments to investors through interest from municipal bonds.

What the numbers show

As of July 10, 2026, the current price of one share of NMT is $12.80. Looking at how the fund has performed, the price has grown over different time periods. The one-year price return is 8.75%. When you include the money paid out to investors, the one-year total return is 16.11%.

To see how price changes affect an investment, let's look at a simple example. Imagine you invested $10,000 into this fund exactly one year ago when the estimated price was about $11.77 per share. If the price rose to the current $12.80 without counting any extra payments, your $10,000 would have grown to approximately $10,875 based on price changes alone.

Income and distribution explanation

Some investors look for "yield," which is a way to measure how much cash an ETF pays out compared to its price. NMT has a distribution yield of 6.082%. Over the last 12 months, the fund made 12 distributions, meaning it usually pays out money every month. The total amount paid out per share over the last year was $0.7785.

It is important to remember that a high yield alone can be misleading. A high percentage might look attractive, but you must also look at whether the actual price of the fund is staying steady or falling.

NAV erosion explanation

"NAV erosion" happens when the value of the underlying assets in the fund drops, causing the share price to fall over time. If an ETF's price collapses from a high amount to a much lower amount, it can destroy your "principal." Principal is the original money you put in. For example, if you invest $10,000 and the price drops by half, you only have $5,000 left, even if the fund pays you some interest.

For this specific fund, there is no severe erosion. The data shows "No price erosion detected," which is labeled as "good."

Pros

• The fund has shown positive total returns over one-year and three-year periods.

• It provides regular monthly distributions.

• The price has been increasing rather than falling.

Cons

• Investors must monitor if the high yield is sustainable or if it comes from a dropping share price.

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 payments. If an ETF's price collapses, the lost money can be much larger than the income you receive. In the case of NMT, the data shows the price has been growing alongside its distributions.