ETF Report: Nuveen Virginia Quality Municipal Income Fund (NPV)

What this ETF is trying to do

The Nuveen Virginia Quality Municipal Income Fund, known by its ticker symbol NPV, is an ETF traded on the NYSE. This fund focuses on providing income to its investors. It does this by investing in municipal bonds, which are types of debt issued by local governments.

What the numbers show

As of July 10, 2026, the current price of one share is $11.40. Looking at how the fund has performed over different periods, we see a few different things:

• Year-to-Date (YTD): The price has gone up by 2.981%, while the total return (which includes payouts) is 6.5062%.

• One Year: The price increased by 0.5291%, but the total return was 7.7362%.

• Three Years: The price grew by 5.4579%, and the total return reached 27.0623%.

To see how price changes affect money, let's look at a simple example. If you had invested $10,000 into this fund one year ago when the estimated price was about $11.34, your investment value would have changed based on the price return before any extra payouts were added.

Income and distribution explanation

This ETF is designed to pay out money regularly. Over the last 12 months, it distributed a total of $0.7905 per share. These payments happened 12 times, meaning they usually happen once every month. Because of these payments, the distribution yield is 6.9342%.

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

NAV erosion explanation

"NAV erosion" happens when the value of the underlying assets in an ETF drops, causing the share price to fall over time. If an ETF's price collapses from a high number to a much lower number, it can destroy your principal. Your "principal" is the original amount of money you put in.

For this specific fund, no price erosion was detected. The erosion score is listed as "good," meaning the share price has not been steadily shrinking.

Pros

• The fund provides regular monthly income.

• The total returns over one and three years have been positive.

• There is no sign of severe price erosion.

Cons

• The price growth (price return) is much slower than the total return, meaning most of the gains come from the payouts rather than the share price going up.

Beginner takeaway

Income investors usually prefer ETFs that go sideways (stay at a steady price) or move slightly up. This is because they want to collect the monthly payments without losing the original money they invested. While NPV provides a yield of 6.9342%, always check if the share price is staying healthy alongside those payments.