Performance analysis of Nuveen Churchill Direct Lending (NCDL)
Annual Return
Since Jan 25, 2024, NCDL has had an average annual return of -1.50%, underperforming the benchmark SPY, which returned +20.17% annual.
| 2026 | 2025 | 2024 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| +0.80% | -9.95% | +6.10% |
Monthly Return
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annually Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.19% | -4.66% | +1.94% | +15.02% | -10.73% | -1.99% | +1.85% | +0.80% | |||||
| 2025 | +2.73% | +2.57% | -0.86% | -7.42% | +3.37% | +2.39% | +1.05% | -2.32% | -10.82% | +4.63% | +2.63% | -6.94% | -9.95% |
| 2024 | -0.45% | -5.40% | +10.26% | -3.71% | +2.42% | +0.79% | -1.09% | +3.94% | +0.51% | -3.44% | +3.46% | -0.40% | +6.10% |
Drawdown analysis of Nuveen Churchill Direct Lending (NCDL)
The maximum drawdown for the NCDL was -22.31%, occurring on Jun 22, 2026. This drawdown has not yet recovered.
The current NCDL drawdown is -16.16%.
Since Jan 25, 2024 NCDL has experienced the following drawdowns:
- 20% or more: 1 time
- 10% or more: 3 times
| Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -22.31% | Jul 17, 2025 | 233 | Jun 22, 2026 | Ongoing | Ongoing | Ongoing |
| -15.57% | Feb 20, 2025 | 36 | Apr 11, 2025 | 60 | Jul 10, 2025 | 96 |
| -10.15% | Jan 30, 2024 | 24 | Mar 5, 2024 | 12 | Mar 21, 2024 | 36 |
| -7.02% | Jul 17, 2024 | 18 | Aug 12, 2024 | 13 | Aug 29, 2024 | 31 |
| -5.76% | Mar 28, 2024 | 8 | Apr 10, 2024 | 40 | Jun 6, 2024 | 48 |
| -4.81% | Oct 9, 2024 | 64 | Jan 13, 2025 | 8 | Jan 24, 2025 | 72 |
| -3.06% | Jun 7, 2024 | 6 | Jun 17, 2024 | 10 | Jul 2, 2024 | 16 |
| -2.70% | Aug 30, 2024 | 5 | Sep 9, 2024 | 4 | Sep 13, 2024 | 9 |
| -2.18% | Mar 21, 2024 | 3 | Mar 26, 2024 | 2 | Mar 28, 2024 | 5 |
| -2.17% | Sep 18, 2024 | 11 | Oct 3, 2024 | 4 | Oct 9, 2024 | 15 |
| -1.90% | Jul 2, 2024 | 3 | Jul 8, 2024 | 7 | Jul 17, 2024 | 10 |
| -1.44% | Jan 27, 2025 | 2 | Jan 29, 2025 | 3 | Feb 3, 2025 | 5 |
| -1.17% | Jul 11, 2025 | 2 | Jul 15, 2025 | 1 | Jul 16, 2025 | 3 |
| -0.47% | Feb 3, 2025 | 3 | Feb 6, 2025 | 3 | Feb 11, 2025 | 6 |
| -0.28% | Jan 25, 2024 | 2 | Jan 29, 2024 | 1 | Jan 30, 2024 | 3 |