NCDL vs. PRFRX
NCDL (Nuveen Churchill Direct Lending Corp.) is a stock, while PRFRX (T. Rowe Price Floating Rate Fund) is High Yield Bonds fund managed by T. Rowe Price. Over the past year, NCDL returned -17.89% vs 7.80% for PRFRX. At a 0.13 correlation, their price movements are largely independent.
Performance
NCDL vs. PRFRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NCDL achieves a -6.55% return, which is significantly lower than PRFRX's 0.95% return.
NCDL
- 1D
- -1.23%
- 1M
- -6.21%
- YTD
- -6.55%
- 6M
- -6.89%
- 1Y
- -17.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRFRX
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- 0.95%
- 6M
- 2.23%
- 1Y
- 7.80%
- 3Y*
- 9.72%
- 5Y*
- 6.97%
- 10Y*
- 5.50%
NCDL vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NCDL Nuveen Churchill Direct Lending Corp. | -6.55% | -9.92% | 6.15% |
PRFRX T. Rowe Price Floating Rate Fund | 0.95% | 9.82% | 11.04% |
Correlation
The correlation between NCDL and PRFRX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024 | 0.13 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NCDL vs. PRFRX — Risk / Return Rank
NCDL
PRFRX
NCDL vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Churchill Direct Lending Corp. (NCDL) and T. Rowe Price Floating Rate Fund (PRFRX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NCDL | PRFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.76 | ||
| Sortino ratioReturn per unit of downside risk | -8.54 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 2.17 | -1.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 5.22 | -6.03 |
| Martin ratioReturn relative to average drawdown | -1.33 | 19.38 | -20.72 |
Loading charts...
Drawdowns
NCDL vs. PRFRX - Drawdown Comparison
The maximum NCDL drawdown since its inception was -22.29%, which is greater than PRFRX's maximum drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for NCDL and PRFRX.
Loading charts...
Drawdown Indicators
| NCDL | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.29% | -20.05% | -2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -22.29% | -1.50% | -20.79% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.35% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.05% | — |
Current DrawdownCurrent decline from peak | -22.29% | -0.44% | -21.85% |
Average DrawdownAverage peak-to-trough decline | -7.08% | -0.69% | -6.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.45% | 0.40% | +13.05% |
Volatility
NCDL vs. PRFRX - Volatility Comparison
Nuveen Churchill Direct Lending Corp. (NCDL) has a higher volatility of 8.04% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.63%. This indicates that NCDL's price experiences larger fluctuations and is considered to be riskier than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NCDL | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 0.63% | +7.41% |
Volatility (6M)Calculated over the trailing 6-month period | 18.45% | 1.85% | +16.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.50% | 2.64% | +19.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.38% | 2.91% | +17.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.38% | 3.92% | +16.46% |
Dividends
NCDL vs. PRFRX - Dividend Comparison
NCDL's dividend yield for the trailing twelve months is around 14.49%, more than PRFRX's 9.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCDL Nuveen Churchill Direct Lending Corp. | 14.49% | 14.24% | 12.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRFRX T. Rowe Price Floating Rate Fund | 9.25% | 9.99% | 10.20% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Frequently Asked Questions
NCDL and PRFRX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCDL has higher volatility (8.04%) compared to PRFRX (0.63%). In terms of maximum drawdown, NCDL dropped -22.29% vs PRFRX's -20.05%.
PRFRX currently has the higher Sharpe Ratio (2.96 vs -0.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for NCDL and PRFRX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer