What this ETF is trying to do

The Nuveen New York Municipal Value Fund (NNY) is an ETF that focuses on municipal value. This generally means it invests in debt issued by New York local governments to fund public projects.

What the numbers show

As of October 9, 2026, the share price of NNY was $7.98. To understand how the price has changed, we can look at the price return and the total return.

• Price Return: This measures only the change in the share price. The one-year price return was -4.17%, and the year-to-date (YTD) price return was -6.82%.

• Total Return: This is a different measure that includes both the share-price change and the distributions paid to investors. The one-year total return was -0.07%, and the YTD total return was -3.85%.

For a simple example, if you had invested $10,000 based on the estimated price from roughly one year ago ($8.33), the price-only decline of -4.17% would mean your shares were worth approximately $9,583 before considering any cash distributions.

Income and distribution explanation

NNY provides cash payments to investors. It usually pays these distributions monthly, with 12 payouts over the last year. The distribution yield is 4.44%.

It is important for beginners to know that a high distribution yield alone can be misleading. A yield tells you how much cash is being paid relative to the price, but it does not guarantee that the overall investment is growing or that your original principal is safe.

NAV erosion explanation

"NAV erosion" happens when the actual value of the fund's underlying assets declines over time. Investors who want steady income care about principal stability because they don't want their initial investment to shrink while they collect payments.

For NNY, the erosion-risk score is 94, and the erosion severity is labeled as "good." The erosion label is "Stable / sideways," and the severe erosion-risk flag is false. This means the fund's price trend did not trigger a severe erosion warning.

Pros

• Regular Income: The fund typically pays distributions every month.

• Stability Score: The erosion-risk measurements indicate the fund is currently stable or sideways.

• Long-term Total Return: The three-year total return was 14.1%.

Cons

• Recent Price Decline: Both the YTD and one-year price returns are negative.

• Negative Short-term Total Return: The one-year total return was slightly negative at -0.07%.

Beginner takeaway

NNY is a fund that pays monthly income, but its share price has fallen recently. While the total return (which includes those payments) is higher than the price return alone, both were negative over the last year. However, the fund's erosion-risk score suggests the price has remained relatively stable over a longer period.