Is NAZ a Friend, Question Mark or Foe?

NAZ is classified a Foe under the Income Quality Score framework, based on long-duration distribution and total-return history. This is a research classification, not investment advice.

How safe is the NAZ distribution?

A Foe is an income asset whose long-term distributions have historically outrun its economic total return, or whose distribution or working capital has eroded over time. It describes a weak historical income-quality record — it is not a prediction or a recommendation to sell.

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Public snapshot

NAZ Income Quality Score

Name: NAZ Income Quality Score
Creator: Income Quality Score
Keywords: NAZ income quality, NAZ dividend quality, NAZ dividend safety, NAZ distribution history, NAZ dividend score, NAZ analysis, Nuveen Arizona Quality Municipal Income Fund dividend

Nuveen Arizona Quality Municipal Income Fund (NAZ) has an Income Quality Score of 35/100, classified as a Foe with high confidence, based on a 10-year income and total-return history.

Nuveen Arizona Quality Municipal Income Fund (NAZ) is a closed-end fund and is part of the IQ Score universe.

July 2026 snapshotAs of July 7, 2026Lookback: 10-year

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Long-term focused10-year income and total-return analysis

Data-drivenObjective scoring across 4 quality, distribution and risk signals

Clear classificationFriends to own. Foes to avoid.

IQ Score

35/100

FoeHigh confidence

Asset Type

CEF

Exchange

—

Trailing Yield (TTM)

—

Rank in CEF Universe

250 of 263

Lookback

10-year

Data as of

July 7, 2026

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About this snapshot
This is the public July 2026 snapshot. Public snapshots are delayed and frozen: once released, a month's scores do not change, and current data is reserved for members. The July 2026 snapshot is published as the public launch snapshot.

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IQ Signal Scores

4 quality, distribution and risk signals combined into the overall IQ Score.

Economic Payout Coverage

33/100

Working Capital Preservation

58/100

Distribution Cut Score

10/100

Distribution Trend

42/100

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IQ Score History

IQ Score trajectory since 2023

NAZ's IQ Score has 70 recorded points from 2023-05-31 to 2026-07-07, most recently 35, ranging between 13 and 44 over the period. Over that window NAZ recorded 2 classification changes. The chart above plots the score against the methodology's Friend and Foe thresholds and overlays a base-100 normalised price line for capital-preservation context.

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NAZ distribution history & safety

Across 12 years of distribution data (2015–2026), NAZ recorded 5 annual increases and 3 distribution cuts. Distribution stability is a core IQ Score signal — a long record free of cuts supports a stronger classification, while repeated cuts weaken it. Per-year figures are shown in the panel above.

Annual increases

2015–2026

Distribution cuts

2015–2026

Years of data

2015–2026

—

Trailing yield (TTM)

As of snapshot

Variable

Distribution trend

Over available history

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IQ Score is a long-duration quality and distribution-safety classification for income assets. It is research based on historical data, not personal investment advice, and it does not tell you what to buy or sell. Figures reflect a delayed public snapshot and may differ from current data.