# Commonwealth Africa Fund (CAFRX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/cafrx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: — · Asset class: Equity - Strategy: Actively Managed · Inception: 2011-11-09 Under normal market conditions, the fund invests at least 80% of its net assets in the securities of, and depositary receipts (including American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs"), and European Depositary Receipts ("EDRs")) represented by, African issuers that are tied economically to Africa. ## Key Facts | Metric | Value | |---|---| | Price | $12.02 | | Expense Ratio | 1.75% | | Assets Under Management | $9.0M | | NAV | $12.02 | | Holdings Count | — | | Distribution Yield (TTM) | 3.78% | | Annual Distribution (TTM) | $0.45 /share | | Distribution Frequency | Annual | | 52-Week Range | $10.48 – $13.20 | | Beta | 0.93 | ## Latest Distribution - Amount: $0.4540 /share - Ex-date: 2025-12-15 - Pay date: 2025-12-15 ## Frequently Asked Questions ### What does CAFRX invest in? Under normal market conditions, the fund invests at least 80% of its net assets in the securities of, and depositary receipts (including American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs"), and European Depositary Receipts ("EDRs")) represented by, African issuers that are tied economically to Africa. ### What is the expense ratio of CAFRX? Commonwealth Africa Fund (CAFRX) charges an expense ratio of 1.75%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is CAFRX? Commonwealth Africa Fund (CAFRX) manages $9.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is CAFRX actively managed or an index fund? CAFRX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (CAFRX's is 1.75%) in exchange for the discretion to over- or under-weight positions. ### When was CAFRX launched? Commonwealth Africa Fund (CAFRX) launched in November 2011 and is managed by the fund issuer. ### How has CAFRX performed? CAFRX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does CAFRX pay a dividend? Commonwealth Africa Fund (CAFRX) currently distributes little or no income. Trailing-twelve-month yield is 3.78%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does CAFRX pay dividends? Commonwealth Africa Fund pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is CAFRX's dividend yield? CAFRX's trailing-twelve-month yield is 3.78%, calculated from the sum of dividends over the past year divided by the current price. ### When is CAFRX's next ex-dividend date? The most recently announced ex-dividend date for CAFRX was 2025-12-15. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will CAFRX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.75% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does CAFRX charge its expense ratio? The expense ratio is deducted in tiny daily slices from CAFRX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does CAFRX cost more than a fund like VOO? CAFRX is actively managed (current expense ratio 1.75%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether CAFRX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to CAFRX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as CAFRX (1.75%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/cafrx - Distribution history: https://www.dividenddata.com/funds/cafrx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/cafrx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/cafrx/expenses - Peer comparison: https://www.dividenddata.com/funds/cafrx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.