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Cliffwater Enhanced Lending Fund
mutual fund
CELFX
Payout Change
Pending
Price as of:
$11.06
+0.01
+0.09%
primary theme
Bond Sector Diversified
share class
CELFX (Mutual Fund)
Cliffwater Enhanced Lending Fund
Payout Change
Pending
Price as of:
$11.06
+0.01
+0.09%
primary theme
Bond Sector Diversified
share class
CELFX (Mutual Fund)
Cliffwater Enhanced Lending Fund
Payout Change
Pending
Price as of:
$11.06
+0.01
+0.09%
primary theme
Bond Sector Diversified
share class
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
12.1%
1 yr return
13.6%
3 Yr Avg Return
11.4%
5 Yr Avg Return
N/A
Net Assets
$3.96 B
Holdings in Top 10
36.3%
52 WEEK LOW AND HIGH
$11.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.68%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 11.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000,000
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
CELFX - Profile
Distributions
- YTD Total Return 12.1%
- 3 Yr Annualized Total Return 11.4%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 4.24%
- Dividend Yield 11.1%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameCliffwater Enhanced Lending Fund
-
Fund Family NameCliffwater
-
Inception DateJul 26, 2021
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Nesbitt
Fund Description
CELFX - Performance
Return Ranking - Trailing
| Period | CELFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.1% | -11.6% | 18.0% | 2.48% |
| 1 Yr | 13.6% | -9.3% | 20.6% | 3.56% |
| 3 Yr | 11.4%* | -16.5% | 16.8% | 0.95% |
| 5 Yr | N/A* | -14.6% | 13.8% | N/A |
| 10 Yr | N/A* | -7.2% | 6.9% | N/A |
* Annualized
Return Ranking - Calendar
| Period | CELFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.3% | -12.0% | 8.9% | 71.41% |
| 2022 | 1.6% | -31.8% | 18.4% | 0.63% |
| 2021 | N/A | -16.2% | 25.7% | N/A |
| 2020 | N/A | -31.1% | 18.7% | N/A |
| 2019 | N/A | -6.1% | 15.3% | N/A |
Total Return Ranking - Trailing
| Period | CELFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.1% | -11.6% | 18.0% | 2.48% |
| 1 Yr | 13.6% | -9.3% | 20.6% | 3.56% |
| 3 Yr | 11.4%* | -16.5% | 16.8% | 0.95% |
| 5 Yr | N/A* | -14.6% | 13.8% | N/A |
| 10 Yr | N/A* | -7.2% | 6.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | CELFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.6% | -6.9% | 22.2% | 27.82% |
| 2022 | 11.6% | -31.8% | 21.1% | 0.95% |
| 2021 | N/A | -13.5% | 49.9% | N/A |
| 2020 | N/A | -28.6% | 24.1% | N/A |
| 2019 | N/A | -4.8% | 19.1% | N/A |
NAV & Total Return History
CELFX - Holdings
Concentration Analysis
| CELFX | Category Low | Category High | CELFX % Rank | |
|---|---|---|---|---|
| Net Assets | 3.96 B | 2.63 M | 143 B | 15.13% |
| Number of Holdings | 327 | 4 | 9638 | 62.87% |
| Net Assets in Top 10 | 1.44 B | -204 M | 89.4 B | 14.35% |
| Weighting of Top 10 | 36.30% | 5.8% | 265.8% | 32.70% |
Top 10 Holdings
- State Street Institutional U.S. Government Money Market Fund - Class Premier 7.66%
- DAWSON EVERGREEN FUND LP / 6.79%
- HERCULES PRIVATE GLO FUND V-L LP / 3.82%
- VPC LEGAL FINANCE FUND / 3.39%
- BSOF Parallel Onshor Class SRT Enhanced / 2.70%
- AG ASSET BASED CREDIT FUND L.P. / 2.64%
- Guggenheim MM-C CLO 2023-5 LLC 2.60%
- KING STREET OPPOTUNI CREDIT EVERGREEN FUN / 2.47%
- SYMBIOTIC CAPITAL CREDIT PARALLEL / 2.26%
- VPC ASSET BACKED OPP CREDIT FUND LP / 1.98%
Asset Allocation
| Weighting | Return Low | Return High | CELFX % Rank | |
|---|---|---|---|---|
| Stocks | 75.29% | -6.18% | 99.68% | 7.96% |
| Bonds | 20.74% | 0.00% | 199.60% | 87.83% |
| Cash | 7.66% | -94.66% | 99.97% | 24.80% |
| Preferred Stocks | 1.42% | 0.00% | 21.58% | 10.45% |
| Convertible Bonds | 0.00% | 0.00% | 33.50% | 86.54% |
| Other | -1.27% | -75.22% | 147.15% | 94.07% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | CELFX % Rank | |
|---|---|---|---|---|
| Financial Services | 100.00% | 0.00% | 100.00% | 0.87% |
| Utilities | 0.00% | 0.00% | 100.00% | 53.91% |
| Technology | 0.00% | 0.00% | 28.30% | 44.35% |
| Real Estate | 0.00% | 0.00% | 100.00% | 51.59% |
| Industrials | 0.00% | 0.00% | 100.00% | 60.58% |
| Healthcare | 0.00% | 0.00% | 18.60% | 44.93% |
| Energy | 0.00% | 0.00% | 100.00% | 74.78% |
| Communication Services | 0.00% | 0.00% | 100.00% | 52.75% |
| Consumer Defense | 0.00% | 0.00% | 99.97% | 46.96% |
| Consumer Cyclical | 0.00% | 0.00% | 89.95% | 56.23% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 47.25% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | CELFX % Rank | |
|---|---|---|---|---|
| US | 74.42% | -6.18% | 99.68% | 7.96% |
| Non US | 0.87% | -0.30% | 17.73% | 3.43% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | CELFX % Rank | |
|---|---|---|---|---|
| Corporate | 35.33% | 0.00% | 96.66% | 51.05% |
| Cash & Equivalents | 7.66% | 0.00% | 94.89% | 21.91% |
| Securitized | 5.56% | 0.00% | 99.65% | 75.36% |
| Municipal | 0.00% | 0.00% | 54.26% | 45.89% |
| Government | 0.00% | 0.00% | 99.43% | 87.44% |
| Derivative | -1.27% | -75.22% | 147.15% | 97.03% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | CELFX % Rank | |
|---|---|---|---|---|
| US | 20.35% | 0.00% | 199.60% | 86.27% |
| Non US | 0.39% | 0.00% | 74.14% | 64.27% |
CELFX - Expenses
Operational Fees
| CELFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.68% | 0.03% | 34.13% | 29.86% |
| Management Fee | 0.95% | 0.00% | 2.29% | 81.42% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| CELFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
| CELFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| CELFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 11.00% | 0.00% | 632.00% | 2.45% |
CELFX - Distributions
Dividend Yield Analysis
| CELFX | Category Low | Category High | CELFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 11.05% | 0.00% | 23.30% | 51.93% |
Dividend Distribution Analysis
| CELFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| CELFX | Category Low | Category High | CELFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.24% | -1.55% | 11.51% | 14.74% |
Capital Gain Distribution Analysis
| CELFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 02, 2024 | $0.306 | OrdinaryDividend |
| Jul 02, 2024 | $0.307 | OrdinaryDividend |
| Mar 28, 2024 | $0.302 | OrdinaryDividend |
| Dec 28, 2023 | $0.025 | ReturnOfCapital |
| Dec 28, 2023 | $0.275 | OrdinaryDividend |
| Dec 28, 2023 | $0.001 | CapitalGainLongTerm |
| Jul 05, 2023 | $0.273 | OrdinaryDividend |
| Apr 04, 2023 | $0.270 | OrdinaryDividend |
| Dec 29, 2022 | $0.269 | OrdinaryDividend |
| Oct 04, 2022 | $0.242 | OrdinaryDividend |
| Jul 06, 2022 | $0.244 | OrdinaryDividend |
| Apr 04, 2022 | $0.241 | OrdinaryDividend |
| Dec 30, 2021 | $0.084 | OrdinaryDividend |
| Nov 29, 2021 | $0.239 | OrdinaryDividend |
CELFX - Fund Manager Analysis
Managers
Stephen Nesbitt
Start Date
Tenure
Tenure Rank
Jun 30, 2021
0.92
0.9%
Stephen L. Nesbitt, Chief Executive Officer and Chief Investment Officer of the Investment Manager, is primarily responsible for the day-to-day management of the Fund. Mr. Nesbitt has been the portfolio manager of the Fund since its inception. Prior to forming the Investment Manager in 2004, Mr. Nesbitt was a Senior Managing Director at Wilshire Associates. From 1990 to 2004, Mr. Nesbitt led the Consulting division at Wilshire Associates and also started and built its asset management business using a “manager of managers” investment approach, including private equity and hedge fund-of-fund portfolios. Mr. Nesbitt started his career at Wells Fargo Investment Advisors, an early pioneer in index funds, where he developed and managed index funds and oversaw asset allocation
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.71 | 3.19 |
