# Herzfeld Credit Income Fund, Inc. (HERZ): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/herz 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: 1994-05-20 The Fund’s primary investment objective is to maximize risk adjusted total returns with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. ## Key Facts | Metric | Value | |---|---| | Price | $13.83 | | Expense Ratio | 4.33% | | Market Value | $27.9M | | NAV | Not on file (no daily NAV for closed-end funds) | | Holdings Count | — | | Distribution Yield (TTM) | 63.24% | | Annual Distribution (TTM) | $8.75 /share | | Distribution Frequency | Monthly | | 52-Week Range | $13.39 – $28.30 | | Beta | 0.77 | ## Latest Distribution - Amount: $0.1700 /share - Ex-date: 2026-12-17 - Pay date: 2026-12-31 ## Frequently Asked Questions ### What does HERZ invest in? The Fund’s primary investment objective is to maximize risk adjusted total returns with a secondary objective of generating high current income for stockholders. In accordance with the change in investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. ### What is the expense ratio of HERZ? Herzfeld Credit Income Fund, Inc. (HERZ) charges an expense ratio of 4.33%. This is the annual fee deducted from fund assets to cover management and operations. ### What is HERZ's dividend yield? HERZ's trailing-twelve-month yield is 63.24%, calculated from the sum of dividends over the past year divided by the current price. ### How big is HERZ? Herzfeld Credit Income Fund, Inc. (HERZ) has a market value of $27.9M: its share price times its shares outstanding. A closed-end fund trades above or below its net asset value, so its net assets differ from this figure. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is HERZ actively managed or an index fund? HERZ is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (HERZ's is 4.33%) in exchange for the discretion to over- or under-weight positions. ### When was HERZ launched? Herzfeld Credit Income Fund, Inc. (HERZ) launched in May 1994 and is managed by the fund issuer. ### Does HERZ pay a dividend? Yes, Herzfeld Credit Income Fund, Inc. (HERZ) distributes dividends to shareholders. The trailing-twelve-month yield is 63.24%. Full dividend history is on this page. ### How often does HERZ pay dividends? Herzfeld Credit Income Fund, Inc. pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is HERZ's next ex-dividend date? The most recently announced ex-dividend date for HERZ was 2026-12-17. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will HERZ's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 4.33% 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 HERZ charge its expense ratio? The expense ratio is deducted in tiny daily slices from HERZ'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 HERZ cost more than a fund like VOO? HERZ is actively managed (current expense ratio 4.33%). 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 HERZ's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to HERZ? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as HERZ (4.33%) 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/herz - Distribution history: https://www.dividenddata.com/funds/herz/dividend - Holdings & diversification: https://www.dividenddata.com/funds/herz/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/herz/expenses - Peer comparison: https://www.dividenddata.com/funds/herz/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.