Nuveen Churchill Direct Lending (NCDL) Total Return Calculator
$10,000 since Jan 2024, with and without reinvesting · data through Oct 2026
Since Jan 2024, $10,000 became $8,822 reinvested (-4.5% a year), or $9,222 taking the dividends as cash, $2,942 of it paid out along the way.
NCDL became
$8,822
S&P 500: $16,162
Return a year
-4.5%
S&P 500: 19.1%
Payouts reinvested
$3,408
bought more shares
Worst drop
-21.5%
S&P 500: -7.6%
$10,000, Jan 2024 to Oct 2026
Payouts reinvested · S&P 500 reinvested
| Year | NCDL total return | Paid out | S&P 500 |
|---|---|---|---|
| 2026 (part) | −8.1% | $874 | +11.7% |
| 2025 | −9.9% | $1,274 | +17.7% |
| 2024 (part) | +6.6% | $1,260 | +22.9% |
"Paid out" is what your holding received that year. Month-end prices; no costs or taxes.
Key facts: NCDL total return
Data as of · Source: SmarterDividends data
- $10,000 invested in Nuveen Churchill Direct Lending (NCDL) at the end of Jan 2024, with dividends reinvested, was worth $8,822 at the end of Oct 2026: -4.5% a year, against $16,162 (19.1% a year) in the S&P 500.
- Taking NCDL's dividends as cash instead of reinvesting them, the same $10,000 ended at $9,222, including $2,942 of cash received; reinvesting added $0.
- NCDL's best calendar year in that time was 2025 (-9.9%) and its worst 2025 (-9.9%), with dividends reinvested.
Cite this page
SmarterDividends, "Nuveen Churchill Direct Lending (NCDL) Total Return Calculator," updated Nov 9, 2026, https://smarterdividends.com/stocks/NCDL/total-return
NCDL total return questions
What is NCDL's total return since Jan 2024?
-12% in total, or -4.5% a year, through Oct 2026 with dividends reinvested. The share price alone fell 37%.
What was NCDL's worst year?
2025, at -9.9% with dividends reinvested (S&P 500: 17.7%). Its deepest fall from a peak, on month-end values, was -21.5%.
How is total return calculated here?
From month-end prices: the adjusted price counts every dividend reinvested in the month it was paid; the plain price doesn't. The S&P 500 is SPY with its dividends reinvested. No trading costs or taxes.