NMI CEF — Nuveen Municipal Income Fund Inc

Nuveen Municipal Income Fund Inc (NMI)

Updated November 12, 2026.

NMI is a CEF. Its distribution rate is 4.61%, its trailing-12-month yield is 4.99%, its expense ratio is 0.7101%. Dividend Vision Distribution Safety Score™ is 90/100 (Safe). Total return is 510.4% over the past 38.5 years.

At the current 4.61% distribution rate, a $10,000 investment would generate approximately $461 per year, or $38.42 per month.

Nuveen Municipal Income Fund is a closed-end fund that invests primarily in municipal bonds issued by U.S. state and local government authorities. The fund distributes income monthly at a current distribution rate in the mid-single digits. The fund appeals to income-focused investors seeking tax-advantaged returns from municipal securities, though investors should be aware that closed-end funds may trade at a premium or discount to their underlying net asset value.

NMI performance

As of Nov 12, 2026

Total return is 510.4% over the past 38.5 years. Over the past year its total return — price change plus distributions reinvested — is 2.5%. Its deepest 1-year drawdown was 16.8%.

NMI key facts

Distribution Safety Score™

90 · Safe

Safety-Adjusted Yield

4.15%

Issuer

Nuveen

Asset type

CEF

Asset class

Fixed Income

Inception date

05/04/1988

Expense ratio

0.7101%

Distribution rate

4.61%

Distribution frequency

Monthly

Trailing yield

4.99%

5-year average yield

4.03

Last close

$9.90 (as of 2026-11-12)

NAV

$9.95; NAV date unknown

Premium / discount

Premium not shown · NAV date unknown

Average volume

72,917

Dividend

$0.038

Ex-dividend date

11/13/2026

Payment date

12/01/2026

Beta

0.357

AUM unavailable in this published snapshot. Missing values do not mean zero or complete coverage. ?

How Dividend Vision calculates yield and returns

Distribution rate (4.61%) uses latest regular dividend ($0.038) × 12 ÷ market price dated 2026-11-12; one-off specials excluded; identified recurring supplementals included. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (4.99%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Nuveen; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

NMI risks and drawbacks

The deepest 1-year drawdown on record here is 16.8%.

Who may consider NMI — and who may not

NMI may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.

More on NMI

• CEFs going ex-dividend this week
• All tickers starting with N

Tagged: CEF, Municipal, Fixed Income.

Frequently asked questions

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