Company: NMI
Filing Date: 2025-01-06
Form Type: N-CSR
Source: 0001193125-25-002221
Chunk: 4

Company: NUVEEN MUNICIPAL INCOME FUND INC
Filing Date: 2025-01-06
Form: N-CSR
Chunk 4
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 the linked returns between the S&P Municipal Bond Index (through September 29, 2023) and the S&P Municipal Yield Index (subsequent to September 29, 2023). Top contributors to relative performance

| • |     | Duration and yield curve positioning, particularly an overweight to durations over 12 years and an underweight to |

5 (continued)

| durations of zero to four years. |

| • |     | Credit quality positioning, specifically an overweight tonon-ratedbonds and an underweight to high-grade(AAA-ratedandAA-rated)bonds. |

| • |     | Individual credit selection. |

Top detractors from relative performance

| • |     | Sector allocations, driven by exposure to the industrial development revenue and life care sectors. |

| • |     | Although security selection overall contributed, selection among bonds with durations longer than 12 years detracted. |

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors. Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein. For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc. (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings, while BB, B, CCC, CC, C and D are below investment grade ratings. Holdings designated N/R are not rated by these national rating agencies. Bond insurance guarantees only the