# Cliffwater Enhanced Lending Fund (CELFX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/celfx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Cliffwater · Asset class: Equity - Strategy: Thematic · Inception: 2021-06-30 Non-diversified, closed-end interval fund launched July 1, 2021. Seeks high current income and modest capital appreciation with secondary capital preservation objective. Invests at least 80% of assets in business lending across private credit strategies including direct lending, specialty finance, asset-based lending, venture debt, and other lower-correlation credit strategies. Diversified across numerous sub-strategies. Targets accredited, high-net-worth, and institutional investors. Offers quarterly liquidity via share repurchases at NAV. ## Key Facts | Metric | Value | |---|---| | Price | $10.76 | | Expense Ratio | — | | Assets Under Management | $5.14B | | NAV | $10.76 | | Holdings Count | — | | Distribution Yield (TTM) | 10.07% | | Annual Distribution (TTM) | $1.08 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $10.69 – $11.09 | | Beta | -0.01 | ## Latest Distribution - Amount: $0.2592 /share - Ex-date: 2026-10-06 - Pay date: 2026-10-06 ## Frequently Asked Questions ### What does CELFX invest in? Non-diversified, closed-end interval fund launched July 1, 2021. Seeks high current income and modest capital appreciation with secondary capital preservation objective. Invests at least 80% of assets in business lending across private credit strategies including direct lending, specialty finance, asset-based lending, venture debt, and other lower-correlation credit strategies. Diversified across numerous sub-strategies. Targets accredited, high-net-worth, and institutional investors. Offers quarterly liquidity via share repurchases at NAV. ### What is the expense ratio of CELFX? An expense ratio for Cliffwater Enhanced Lending Fund (CELFX) is not available from our data sources. Neither our market-data feed nor the SEC's structured prospectus and annual-report datasets report one for this share class. The fund's prospectus on the issuer's site carries the authoritative fee. ### How big is CELFX? Cliffwater Enhanced Lending Fund (CELFX) manages $5.14B 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 CELFX actively managed or an index fund? CELFX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was CELFX launched? Cliffwater Enhanced Lending Fund (CELFX) launched in June 2021 and is managed by Cliffwater. ### How has CELFX performed? CELFX'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 CELFX pay a dividend? Cliffwater Enhanced Lending Fund (CELFX) currently distributes little or no income. Trailing-twelve-month yield is 10.07%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does CELFX pay dividends? Cliffwater Enhanced Lending Fund pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is CELFX's dividend yield? CELFX's trailing-twelve-month yield is 10.07%, calculated from the sum of dividends over the past year divided by the current price. ### When is CELFX's next ex-dividend date? The most recently announced ex-dividend date for CELFX was 2026-10-06. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### Why is CELFX's expense ratio not shown? Neither our market-data feed nor the SEC's structured filing datasets (prospectus fee tables and Form N-CEN annual reports, which we re-check monthly) report an expense ratio for Cliffwater Enhanced Lending Fund (CELFX). That usually means the fund family doesn't register this share class's ticker in the SEC's machine-readable data, or the vehicle reports fees outside the standard fund forms. Rather than estimate, we leave it blank; the prospectus on the issuer's site carries the authoritative number. ### How does CELFX charge its expense ratio? The expense ratio is deducted in tiny daily slices from CELFX'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. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/celfx - Distribution history: https://www.dividenddata.com/funds/celfx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/celfx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/celfx/expenses - Peer comparison: https://www.dividenddata.com/funds/celfx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.