NMS
StockNuveen Minnesota Quality Municipal Income Fund
One email when a drop — in price or in valuation — is historically rare for NMS. Otherwise we stay quiet.
Rare — pay attention.
Nuveen Minnesota Quality Municipal Income Fund is 21.5% off its high, 1809 days in — deeper than the vast majority of its 41 recorded drawdowns. This is the kind of decline the severity score exists to flag.
But down is not the same as cheap: Nuveen Minnesota Quality Municipal Income Fund's P/S Severity Score is 0.0 — its valuation sits in or above its typical range.
Strong
Current Drawdown
-21.5%
Days in Drawdown
1809
Avg Max Drawdown
2.8%
Avg Length
61
Drawdown Severity Score™
5.3
NMS - Price & High Water Mark
NMS - Drawdown Timeline
How to read this chart: Negative values indicate drawdowns from all-time highs. Values closer to 0% mean the stock is near its high water mark.
Valuation vs Its Own History
Data as of September 8, 2026 · updated daily
Where today's valuation sits within NMS's own multi-year range, scored with the same Drawdown Severity Score language as price, measured from its typical level rather than its record high — a higher score means it has rarely been cheaper. This is context, not a recommendation.
Price to Sales
Nuveen Minnesota Quality Municipal Income Fund has been cheaper on this measure only about 100% of the time in 6 years of daily history.
Price to Sales history
EV to EBITDA
Nuveen Minnesota Quality Municipal Income Fund has been cheaper on this measure only about 52% of the time in 6 years of daily history.
EV to EBITDA history · log scale
Nuveen Minnesota Quality Municipal Income Fund (NMS) Analysis: Current Drawdown Insights
Nuveen Minnesota Quality Municipal Income Fund is currently in a drawdown that is unusual by its own historical standards. As of 2026-09-25, the stock is trading at $9.91, which represents a 21.5% decline from its all-time high of $12.62. This drawdown has persisted for 1809 days.
Based on its full tracked price history, Nuveen Minnesota Quality Municipal Income Fund typically experiences drawdowns averaging 2.8% in depth, with an average duration of 61 days. Nuveen Minnesota Quality Municipal Income Fund has gone through 41 total drawdown events in its tracked history. The largest drawdown on record for Nuveen Minnesota Quality Municipal Income Fund was 25.1%, beginning in 2016. The longest drawdown duration on record was 1404 days.
The Drawdown Severity Score™ for Nuveen Minnesota Quality Municipal Income Fund currently stands at 5.30. This is our proprietary indicator that shows the relative severity of the current drawdown based on the asset's unique historical patterns. A score between 5.0 and 8.0 indicates a rare, significant drawdown: the asset seldom sees declines at this level in its tracked history.
Understanding Drawdowns: A drawdown measures how far a stock has fallen from its peak price. Every stock experiences drawdowns: periods when the price declines from all-time highs before recovering. By analyzing Nuveen Minnesota Quality Municipal Income Fund's historical drawdown patterns, investors can identify when the stock is experiencing a typical market fluctuation versus an unusual decline that is rare by that stock's own historical standards.
📜 Historical Drawdown Events
Current drawdown shown in blue. Showing the most recent and the deepest of 41 tracked pullbacks (41 listed).
| Start Date | End Date | Duration | Max Depth | Start Price | Lowest Price | Recovery Price |
|---|---|---|---|---|---|---|
| 2021-10-12 | Ongoing | 1809 days | -21.5% | $12.62 | $9.91 | n/a |
| 2021-09-15 | 2021-09-16 | 2 days | -1.0% | $12.61 | $12.48 | $12.62 |
| 2021-06-29 | 2021-09-14 | 78 days | -5.9% | $12.51 | $11.77 | $12.61 |
| 2021-06-24 | 2021-06-28 | 5 days | -1.1% | $12.51 | $12.37 | $12.51 |
| 2021-05-05 | 2021-06-23 | 50 days | -5.2% | $12.50 | $11.86 | $12.51 |
| 2021-04-22 | 2021-05-04 | 13 days | -1.7% | $11.99 | $11.79 | $12.50 |
| 2021-04-19 | 2021-04-21 | 3 days | -0.3% | $11.97 | $11.93 | $11.99 |
| 2021-04-15 | 2021-04-16 | 2 days | -0.3% | $11.82 | $11.78 | $11.97 |
| 2021-02-16 | 2021-04-14 | 57 days | -3.5% | $11.51 | $11.10 | $11.82 |
| 2021-02-04 | 2021-02-09 | 6 days | -0.9% | $11.32 | $11.21 | $11.36 |
| 2021-01-21 | 2021-02-03 | 14 days | -2.3% | $11.30 | $11.05 | $11.32 |
| 2021-01-14 | 2021-01-20 | 7 days | -0.6% | $11.21 | $11.14 | $11.30 |
| 2020-12-02 | 2021-01-13 | 43 days | -2.5% | $11.15 | $10.86 | $11.21 |
| 2020-11-25 | 2020-12-01 | 7 days | -0.5% | $11.15 | $11.09 | $11.15 |
| 2020-11-18 | 2020-11-24 | 7 days | -1.2% | $11.15 | $11.01 | $11.15 |
| 2020-10-28 | 2020-11-17 | 21 days | -3.6% | $11.13 | $10.73 | $11.15 |
| 2020-08-20 | 2020-10-27 | 69 days | -7.3% | $11.05 | $10.24 | $11.13 |
| 2020-08-13 | 2020-08-19 | 7 days | -1.3% | $11.01 | $10.88 | $11.05 |
| 2020-08-10 | 2020-08-11 | 2 days | -0.1% | $10.90 | $10.90 | $10.98 |
| 2016-10-03 | 2020-08-06 | 1404 days | -25.1% | $10.87 | $8.14 | $10.88 |
| 2016-08-16 | 2016-09-30 | 46 days | -4.3% | $10.60 | $10.15 | $10.87 |
| 2016-08-12 | 2016-08-15 | 4 days | -0.0% | $10.59 | $10.58 | $10.60 |
| 2016-08-08 | 2016-08-11 | 4 days | -1.0% | $10.57 | $10.47 | $10.59 |
| 2016-07-07 | 2016-08-05 | 30 days | -4.0% | $10.53 | $10.11 | $10.57 |
| 2016-06-20 | 2016-07-06 | 17 days | -3.8% | $10.49 | $10.10 | $10.53 |
| 2016-06-14 | 2016-06-16 | 3 days | -1.0% | $10.21 | $10.11 | $10.33 |
| 2016-06-07 | 2016-06-13 | 7 days | -1.0% | $10.18 | $10.08 | $10.21 |
| 2016-04-14 | 2016-06-06 | 54 days | -4.0% | $9.96 | $9.56 | $10.18 |
| 2016-04-11 | 2016-04-13 | 3 days | -1.0% | $9.86 | $9.76 | $9.96 |
| 2016-04-07 | 2016-04-08 | 2 days | -0.6% | $9.72 | $9.66 | $9.86 |
| 2016-04-04 | 2016-04-05 | 2 days | -0.1% | $9.65 | $9.64 | $9.67 |
| 2016-03-02 | 2016-04-01 | 30 days | -1.5% | $9.56 | $9.41 | $9.65 |
| 2016-02-12 | 2016-02-25 | 14 days | -2.7% | $9.38 | $9.13 | $9.39 |
| 2016-02-05 | 2016-02-08 | 4 days | -0.2% | $8.96 | $8.94 | $9.04 |
| 2015-03-19 | 2016-01-29 | 317 days | -7.3% | $8.78 | $8.13 | $8.81 |
| 2015-03-06 | 2015-03-18 | 12 days | -1.3% | $8.76 | $8.65 | $8.78 |
| 2015-02-06 | 2015-03-03 | 26 days | -2.5% | $8.72 | $8.50 | $8.74 |
| 2015-02-02 | 2015-02-05 | 4 days | -0.9% | $8.65 | $8.57 | $8.72 |
| 2014-11-07 | 2015-01-27 | 82 days | -6.3% | $8.58 | $8.04 | $8.59 |
| 2014-10-16 | 2014-11-06 | 22 days | -5.6% | $8.44 | $7.97 | $8.58 |
| 2014-10-14 | 2014-10-15 | 2 days | -1.3% | $8.44 | $8.33 | $8.44 |
| 2014-10-10 | 2014-10-13 | 4 days | -1.1% | $8.43 | $8.34 | $8.44 |
How to read: Each row shows a complete drawdown from peak to recovery. Red rows = most severe drawdowns (worst 20% or 5x+ average), yellow rows = moderate (2x-5x worse than average).
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Or explore current drawdowns:
Nuveen Minnesota Quality Municipal Income Fund (NMS) is trading at $9.91 as of Sep 25, 2026. It is 21.5% below its high of $12.62. The drawdown has lasted 1,809 days. Severity score: 5.3 (Strong).
NMS Price History and Drawdown Data
Latest price
$9.91
High-water mark
$12.62
Current drawdown
-21.5%
Days in drawdown
1,809
This NMS page is built around daily price history, the latest high-water mark, current drawdown depth, drawdown duration, and comparable historical drawdown events. The chart above provides the price-history context, while the sections below explain how the current move compares with prior Nuveen Minnesota Quality Municipal Income Fund drawdowns.
What History Says About NMS
Nuveen Minnesota Quality Municipal Income Fund has dropped 5%+ from its high 7 times in its tracked history. These events lasted an average of 289 days with an average max drop of -9.0%.
The current drawdown of -21.5% has lasted 1,809 days, which is 6.3x the average duration of comparable events.
| Period | Max Drop | Duration |
|---|---|---|
| Oct 2016 to Aug 2020 | -25.1% | 1404 days |
| Aug 2020 to Oct 2020 | -7.3% | 69 days |
| Mar 2015 to Jan 2016 | -7.3% | 317 days |
| Nov 2014 to Jan 2015 | -6.3% | 82 days |
| Jun 2021 to Sep 2021 | -5.9% | 78 days |
| Oct 2014 to Nov 2014 | -5.6% | 22 days |
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NMS Recovers: How This Drawdown Compares to Its Past
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