Cliffwater Enhanced Lending Fund

CELFX Mutual fund

$10.75 $0.00 (0.00%) NAV as of Oct 20, 2026

Prices on SharpeShare since Oct 21, 2021

52-week range

Low $10.69High $11.09

Has CELFX beaten the S&P 500?

Over the last year (to Oct 20, 2026), CELFX returned +9.2%; the S&P 500 (SPY) returned +15.8%.

Key figures vs the S&P 500

Annualized growth 
CELFX
+9.2%
S&P 500
+15.8%
Largest decline 
CELFX
0.2%
S&P 500
8.9%
Risk-adjusted return 
CELFX
6.01
S&P 500
0.92
Downside risk-adjusted return 
CELFX
14.06
S&P 500
1.35

Oct 20, 2025 – Oct 20, 2026. Returns include dividends and other distributions, reinvested.

How are your investments doing?

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Returns by period

PeriodCELFXS&P 500
1 month +0.7% +1.0%
3 months +2.7% +3.9%
Year to date +7.0% +13.7%
1 year +9.2% +15.8%
3 years (annualized) +11.4% +23.7%

Volatility (1-year, annualized): 0.8%

How has CELFX done each year?

CELFX returned more than the S&P 500 in 1 of the 4 full calendar years SharpeShare can compare (2022).

CELFX S&P 500 (SPY)
  • 2021*: CELFX +2.7%, S&P 500 (SPY) +5.1%
  • 2022: CELFX +11.6%, S&P 500 (SPY) -18.2%
  • 2023: CELFX +12.7%, S&P 500 (SPY) +26.2%
  • 2024: CELFX +13.0%, S&P 500 (SPY) +24.9%
  • 2025: CELFX +11.3%, S&P 500 (SPY) +17.7%
  • 2026*: CELFX +7.0%, S&P 500 (SPY) +13.7%

* Part of a year: the returns SharpeShare measures start or end inside it.

January February March April May June July August September October November December 2021 2022 2023 2024 2025 2026

Select a month to see its return.

Each cell is that month's return, dividends included: green up, red down, uncolored when it rounds to 0.0%.

How rough does it get?

Counting dividends, CELFX's largest decline since Oct 2021 was 0.2%, from Aug 11 to Aug 12, 2022. It was back at that high on Aug 16, 2022, less than a month after the low. During the S&P 500's declines of 10% or more in that time, CELFX returned +8.7% (Jan 3 – Oct 12, 2022, when the S&P 500 fell 24.5%) and +1.6% (Feb 19 – Apr 8, 2025, when the S&P 500 fell 18.8%).

CELFX below its previous high S&P 500 (SPY) S&P 500 declines of 10% or more

In the last year, CELFX moved less than 1% up or down on every trading day. Its biggest one-day fall was 0.2% (Jun 12, 2026); its biggest rise 0.2% (Aug 14, 2026).

CELFX: share of days by daily move S&P 500 (SPY)

Highest closing price since Oct 2021: $11.20 on Jul 1, 2024. The latest close, $10.75 on Oct 20, 2026, is 4.0% below it.

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