Fund Description: Nuveen Insured New York Tax-Free Advantage Municipal Fund is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Nuveen Insured New York Tax-Free Advantage Municipal Fund seeks to provide current income exempt from regular federal income tax and the alternative minimum tax applicable to individuals and New York income tax and to enhance portfolio value. FUND STRATEGY: The Fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) or, if they are unrated, are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The Fund uses leverage. FUND MANAGEMENT: Nuveen Asset Management serves as the investment advisor to the Fund.