Company: NMS
Filing Date: 2025-08-06
Form Type: N-CSR
Source: 0001193125-25-174309
Chunk: 6

Company: Nuveen Minnesota Quality Municipal Income Fund
Filing Date: 2025-08-06
Form: N-CSR
Chunk 6
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 of the tax‑exempt Minnesota municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees. S&P Municipal Bond Missouri Index: An index designed to measure the performance of the tax‑exempt Missouri municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees. S&P Municipal Bond Virginia Index: An index designed to measure the performance of the tax‑exempt Virginia municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.

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Fund Performance, Leverage and Holdings Summaries The Fund Performance, Leverage and Holding Summaries for each Fund are shown below within this section of the report. Fund Performance Performance data for each Fund shown below represents past performance and does not predict or guarantee future results.Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund’s shares at NAV only. Indexes are not available for direct investment. Total returns for a period of less than one year are not annualized (i.e. cumulative returns). Since inception returns are shown for share classes that have less than 10‑years of performance. For performance, current to the most recent month‑end visit Nuveen.com or call (800) 257‑8787. Impact of Leverage One important factor impacting the returns of the Funds’ common shares relative to their comparative benchmarks was the Funds’ use of leverage through their issuance of preferred shares and/or investments in inverse floating rate securities, which represent leveraged investments in underlying bonds. The Funds use leverage because our research has shown that, over time, leveraging provides opportunities for additional income. The opportunity arises when short-term rates that a Fund pays on its leveraging instruments are lower than the interest the Fund earns on its portfolio of long-term bonds that it has bought with the proceeds of that leverage. However, use of leverage can expose Fund common shares to additional price volatility. When a Fund uses leverage, the Fund’s common shares will experience a greater increase in their net asset value if the securities acquired through the use of leverage increase in value, but will also experience a correspondingly larger decline in their net asset value if the securities acquired through leverage decline in value. All this will make