# Variant Alternative Income Fund LP (NICHX)

> Source: Nexqual · https://nexqual.com/NICHX · data as of 2026-10-24 00:08 UTC · cite as "Nexqual, Variant Alternative Income Fund LP (NICHX), nexqual.com/NICHX" · informational, not investment advice.

**Price:** USD 25.79 (+0.08% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 25.77 · day 25.79–25.79 · 52w 25.66–26.9 · market cap null · NAS

## Key facts
- Total return with dividends: 1Y +6.2% vs S&P 500 +13.4%; 5Y +38.1% vs S&P 500 +76.9%.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +6.2% | +38.1% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +6.3% | +6.7% |
| Volatility (annualized) | 0.7% | 2.2% |
| Max drawdown | -0.4% (Jan 2026→Jan 2026) | -3.9% (May 2024→May 2024) |

## Peers
CCLFX (Cliffwater Corporate Lending Fu) USD 10.19 +0.00% · CELFX (Cliffwater Enhanced Lending Fund) USD 10.76 -0.00% · TIPWX (Bluerock Total Income + Real Es) USD 24.36 +0.00% · FROPX (Flat Rock Opportunity Fund) USD 13.67 -0.00% · VCRRX (Versus Capital Real Assets Fund) USD 29.18 -0.00%

## More
Full page: https://nexqual.com/NICHX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt