Nuveen New York AMT-Free Quality Municipal Income Fund — Cyborg Score 7/10
Solid
Bond Markets
Strategic Profile
The fund invests in undervalued municipal securities and other related investments the income, covered by insurance from insurers with a claims-paying ability, exempt from regular federal and New York income tax and are rated Baa, BBB or better. NRK is the only AMT-free offering in the New York peer category. The fund has a dividend yield of 7.8% as of May 2026.
Cyborg Score Rationale
NRK has a strong 24-year track record since inception with consistent tax-exempt distributions and a compelling yield profile. It maintains a differentiated market position with unique AMT-free municipal bond exposure for NY residents, though it faces typical closed-end fund valuation volatility.
Top Insights
Since inception in 2002, NRK has delivered strong results relative to peers and benchmarks, and continues to deliver attractive, reliable distributions which include double—and in some cases triple—tax-exempt income for New York residents
The fund is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New York State personal income taxes. The fund primarily invests in investment-grade municipal securities issued by or on behalf of public authorities and municipalities located in New York. Its portfolio is broadly diversified across metropolitan areas, local school districts, transportation authorities and other state and local entities
As of May 2026, the fund announced a monthly dividend of $0.069 per share with an annualized dividend yield of 7.8%
Portfolio holdings are rated Baa, BBB or better with an average maturity of 15.98 years
Named Competitors
iShares National AMT-Free Municipal Bond ETF — Municipal bond ETF with AMT-free focus
Invesco Municipal Opportunity Trust — Closed-end municipal bond fund
Vanguard Tax-Exempt Bond ETF — Tax-exempt municipal bond fund
Recent Developments
(May 2026) Monthly dividend of $0.069 per share announced with 7.8% dividend yield
(2024) Board election and shareholder meeting held regarding fund management continuity
(2002) Fund inception as Nuveen New York AMT-Free Municipal Income Fund
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