The Morningstar Analyst Rating of Neutral issued for Nuveen All-American Municipal Bond R6 FAAWX on July 17, 2020, was incorrect due to an error in the prospectus adjusted operating expense ratio that is used as an input to the rating. The correct prospectus adjusted operating expense ratio, exclusive of interest expense, is 0.45%. Based on this corrected figure, the strategy’s strong team and investment process earn that share class a Morningstar Analyst Rating of Bronze. The more expensive share classes are rated Neutral.
Will FLAAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FLAAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FLAAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of FLAAX’s parent organization’s priorities and whether they’re in line with investors’ interests.