Nuveen Churchill Direct Lending (NCDL) vs Nuveen California AMT-Free Quality Municipal Income Fund (NKX)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Nuveen California AMT-Free Quality Municipal Income Fund is the larger company by market cap ($585.9 million vs $537.8 million), about 1.1 times the size. On valuation, Nuveen Churchill Direct Lending trades at a lower trailing P/E (11.5x vs 24.2x for Nuveen California AMT-Free Quality Municipal Income Fund). Nuveen California AMT-Free Quality Municipal Income Fund pays a dividend yielding 8.77%, while Nuveen Churchill Direct Lending does not currently pay one.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | NCDL | NKX |
|---|---|---|
| Share price | $10.89 | $10.40 |
| Market cap | $537.83M | $585.86M |
| 1-day change | +1.87% | -0.19% |
| YTD return | -18.37% | — |
| 1-year return | -20.28% | — |
| P/E ratio (TTM) | 11.46 | 24.19 |
| Forward P/E | 7.09 | — |
| EPS (TTM) | $0.95 | $0.43 |
| Dividend yield | 13.96% | 8.77% |
| Annual dividend | $0.00 | $0.912 |
| 52-week high | $15.07 | $13.20 |
| 52-week low | $10.54 | $10.30 |
| Distance from 52-week high | -27.74% | -21.21% |
| Analyst consensus | none | — |
| Avg. price target upside | +25.80% | — |
| Average volume | 197.03K | 208.78K |
| Shares outstanding | 49.39M | 56.33M |
| Sector | Financial Services | Finance |
| Industry | Asset Management | Finance/Investors Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Nuveen California AMT-Free Quality Municipal Income Fund trades at a higher earnings multiple (24.2x vs 11.5x trailing P/E).
- Nuveen Churchill Direct Lending offers a meaningfully higher dividend yield (13.96% vs 8.77%).
- The two companies sit in different sectors: Nuveen Churchill Direct Lending in Financial Services and Nuveen California AMT-Free Quality Municipal Income Fund in Finance.
About Nuveen Churchill Direct Lending
NCDL stock →Nuveen Churchill Direct Lending Corp. (the Company) is business development company and was formed on March 13, 2018, as a limited liability company under the laws of the State of Delaware and was converted into a Maryland corporation on June 18, 2019 prior to the commencement of operations.
Financial Services · Asset Management
About Nuveen California AMT-Free Quality Municipal Income Fund
NKX stock →Nuveen California AMT-Free Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC.
Finance · Finance/Investors Services
NCDL vs NKX FAQ
Which is bigger, Nuveen Churchill Direct Lending or Nuveen California AMT-Free Quality Municipal Income Fund?
Nuveen California AMT-Free Quality Municipal Income Fund (NKX) is larger, with a market capitalization of $585.86M compared with $537.83M for Nuveen Churchill Direct Lending (NCDL).
Which has the lower P/E ratio, NCDL or NKX?
NCDL has the lower trailing P/E at 11.5, versus 24.2 for NKX. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Nuveen Churchill Direct Lending or Nuveen California AMT-Free Quality Municipal Income Fund?
Nuveen Churchill Direct Lending has the higher yield at 13.96%, compared with 8.77% for Nuveen California AMT-Free Quality Municipal Income Fund.
Are Nuveen Churchill Direct Lending and Nuveen California AMT-Free Quality Municipal Income Fund in the same industry?
No. Nuveen Churchill Direct Lending is in the Financial Services sector, while Nuveen California AMT-Free Quality Municipal Income Fund is in Finance.