![]() ![]() Dow Jones Industrial Average ®, The Dow™, and The Dow 30™ are trademarks of Dow Jones Trademark Holdings LLC (“Dow Jones”) and have been licensed for use by S&P DJI and/or its affiliates and have sublicensed for certain purposes by Nuveen Fund Advisors, LLC. The Dow Jones Industrial Average (the “Index”) is a product of S&P Dow Jones Indices LLC (“S&P DJI”) and has been licensed to Nuveen Fund Advisors, LLC in connection with the Fund. Investors should carefully review and consider potential risks before investing. ![]() ![]() Closed-end funds frequently trade at a discount to their net asset value (NAV).Īn investment in this fund presents a number of risks and is not suitable for all investors. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Tax Risk: The tax treatment of fund distributions may be affected by future changes in tax laws and regulations or their interpretation by the Internal Revenue Service or state tax authorities. Index Call Option Risk: Because index options are settled in cash, sellers of index call options, such as the fund, cannot provide in advance for its potential settlement obligations by acquiring and holding the underlying securities In addition, the fund will continue to bear the risk of declines in the value of its equity portfolio. The fund may not participate in any appreciation of its equity portfolio as fully as it would if the fund did not sell call options. At any point in time, your common shares may be worth less than you paid, even after considering the reinvestment of fund distributions.Ĭommon Stock Risk: Common stock returns often have experienced significant volatility.Ĭall Option Risk: The value of call options sold (written) by the fund will fluctuate. Common shares frequently trade at a discount to their NAV. Investment, Market, and Price Risk: Closed-end fund shares are subject to investment risk, including the possible loss of the entire principal amount that you invest. Minimum Weighted Average Days to Expiration: Is the minimum average number of days to expiration during the month for all call options in the Fund's portfolio, weighted by notional values. Maximum Weighted Average Days to Expiration: Is the maximum average number of days to expiration during the month for all call options in the Fund's portfolio, weighted by notional values. Weighted Average Days to Expiration is the average days to expiration for all call options in the Fund's portfolio, weighted by notional values. Spot Price is the minimum average ratio (as defined above) of call option strike prices vs. Spot Price is the maximum average ratio (as defined above) of call option strike prices vs. A figure < 100% indicates that option strike prices, on average, are below spot prices and the calls are "in the money." A figure > 100% indicates that option strike prices, on average, are above their current (spot) prices and the calls are "out of the money". spot prices, weighted by the notional value of the calls. Spot Price is the average ratio of call option strike prices vs. Annualized leverage financing expense is included if the Fund was leveraged as of the previous month end.Īverage Call Option % Coverage is the percentage of the Fund's underlying equities overwritten by call options equals sum of notional values of call options divided by the market value of equities in the portfolio.Īverage Call Strike vs. Certain leveraging instruments including repurchase agreements (repos) are sometimes more efficient forms of leverage, but when used, the costs are difficult to accurately disaggregate and are not shown here.Įxpense ratios are calculated using the prior 12 months of expense data as of the previous month-end. Interest expenses from leverage represent costs associated with the Fund's financing activities, which are distinct from the costs associated with the Fund's underlying core operations. This column enables a common shareholder to better understand how fund expenses impact portfolio investment returns. The second column portrays the costs borne by the Fund on its total investment capital, which includes common assets as well as assets attributable to the Fund's issuance of senior securities (e.g. The first column portrays the costs directly and indirectly borne by common shareholders. Fund fees and expenses are presented as a percentage of both common shareholder capital and total fund investment capital. ![]()
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