Understanding the Nuveen New York AMT-Free Quality Municipal Income Fund (NRK)

What this ETF is trying to do

The NRK is an Exchange Traded Fund (ETF). This specific fund focuses on municipal income. This means it invests in debt from local governments, like cities or states, to provide regular payments to investors.

What the numbers show

As of July 10, 2026, the current price of one share is $10.67. Looking back at the past year, the price has grown. One year ago, the estimated price was about $9.74.

The fund's performance shows different types of growth:

• Year-to-Date (YTD) Total Return: 10.0091%

• One-Year Total Return: 18.8187%

• Three-Year Total Return: 27.6792%

The "total return" is important because it includes both the change in the share price and the extra money paid out to investors.

Income and distribution explanation

This ETF is designed to pay out regular income. Over the last 12 months, it distributed a total of $0.8245 per share. These payments happen 12 times a year, which means they are usually sent out every month. The distribution yield is 7.7273%.

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 share price is staying steady or falling.

NAV erosion explanation

"NAV erosion" happens when the value of the fund's underlying assets drops, causing the share price to fall over time. If an ETF has severe erosion, a person could see their original investment shrink significantly. For example, if you invested $10,000 and the share price collapsed from a high number to a much lower number, your principal (the money you started with) could be destroyed.

However, for this fund, the "erosion score" is 94, which is labeled as "Stable / sideways." This means it does not show signs of severe erosion. Income investors usually prefer ETFs that go sideways or slightly up. They want to collect their monthly payments without seeing their original investment disappear due to a falling share price.

Pros

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

• It provides regular monthly income.

• The price history shows the fund is currently stable rather than collapsing.

Cons

• The price of the shares can still change based on market conditions.

• Investors must monitor if the yield stays consistent with the price.

Beginner takeaway

NRK focuses on providing monthly income through municipal bonds. While the 7.7273% yield is a key feature, looking at the total return helps you see how the share price and the payments work together. Because this fund is labeled as stable, it avoids the danger of severe NAV erosion.