What this ETF is trying to do

The Nuveen New Jersey Quality Municipal Income Fund (ticker: NXJ) is an ETF. Based on its name, this fund focuses on providing income through municipal investments in New Jersey.

What the numbers show

As of April 24, 2026, the current price of NXJ is $12.41. An estimated price from roughly one year ago was approximately $11.31.

When looking at how this ETF has performed, it is important to understand two different measurements:

• Price Return: This only measures how much the share price itself changed.

• Total Return: This reflects the overall return, which includes both the share-price movement and the cash distributions paid to investors.

Over the last year, the one-year price return was approximately 9.73%. However, the one-year total return was higher, at approximately 18.58%. Over the last three years, the price return was about 8.20%, while the total return was approximately 30.51%.

For the current year so far (YTD), the price return has been -1.82%. However, when including distributions, the YTD total return is 0.69%.

Income and distribution explanation

This ETF provides cash distributions that are usually paid out monthly. The trailing distributions are $0.942. The distribution yield is approximately 7.59%.

It is important to remember that a high distribution yield is not the same as total return. The yield tells you how much cash was paid out relative to the price, but it does not show the full picture of your investment's value.

NAV erosion explanation

"NAV erosion" refers to a situation where the value of the underlying assets in an ETF drops, which can lead to a loss of principal (the original money you invested). If an ETF's share price falls significantly, it can be difficult to recover that lost value.

For this fund, the data shows an erosion-risk score of 100, which is labeled as "No price erosion detected." The erosion severity is described as "good," and there is no severe erosion-risk flag.

Pros

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

• It provides regular cash distributions (usually monthly).

• Current data shows no detected price erosion.

Cons

• The year-to-date (YTD) price return is negative, meaning the share price has declined by approximately 1.82% so far this year.

Beginner takeaway

When studying an ETF like NXJ, don't just look at the distribution yield. A high yield can sometimes hide a falling share price. Always check both the price return and the total return to see how the fund is actually performing. The total return is the most helpful number for seeing the combined effect of price changes and cash payments.