45 Notes to Financial Statements
50 Financial Highlights
52 Build Your Wealth Automatically
53 Fund Information
Compound Your Wealth - Automatically
All Nuveen Municipal Closed-End ETFs let you reinvest dividends and capital gains directly into additional
shares of your Fund. This is a great way to see your investment grow through the power of compounding.
For more information about Dividend Reinvestment, see the last page of this report or speak with your financial
Photo of: Timothy R. Schwertfeger
Chairman of the Board
Sidebar text: "A well-balanced portfolio can help you reduce your investment risks."
One of the primary goals of your Nuveen Fund is to provide you with attractive, dependable tax-free income
from a quality port-folio. I am pleased to report that over the past fiscal year your Fund has continued to meet
these objectives. I urge you to read the Portfolio Managers' Comments and Performance Overview pages
included in this report, which provide more details about Fund results, how they were achieved, and how the
Funds are trying to position themselves for the future.
The uncertain markets of this past reporting period also remind us of another important reason for investing in
Nuveen Funds. In times such as these, your Nuveen Fund can help bring a measure of diversification to your
overall portfolio and serve as a useful counterbalance to other holdings. A well-balanced portfolio can help you
reduce your investment risks and provide one of the keys to strong long-term performance.
Invest Well. Look Ahead. Leave Your Mark.
At Nuveen, we believe that investors should focus not only on investments that can help them accumulate wealth,
but also on the plans and services that can help preserve that wealth and pass it along to future generations. This
long-term perspective is an integral part of our portfolio management strategies, our insistence on quality, and our
desire to provide investments that can withstand the test of time.