Cliffwater Corporate Lending Fund (CCLFX)
CCLFX aims to provide diversified exposure to direct lending through a multi-lender model, focusing on middle-market loans to generate high income.
Fund Info
Mar 6, 2019
$10,000,000
Expense Ratio
CCLFX has a high expense ratio of 3.42%, indicating above-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Cliffwater Corporate Lending Fund (CCLFX) returned 0.75% year-to-date (YTD) and 7.89% over the past 12 months.
CCLFX
0.75%
1.13%
2.06%
7.89%
10.55%
N/A
^GSPC (Benchmark)
1.30%
12.79%
1.49%
12.35%
15.37%
10.87%
Monthly Returns
The table below presents the monthly returns of CCLFX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.94% | 0.75% | 0.46% | -2.12% | 0.75% | 0.75% | |||||||
| 2024 | 1.04% | 0.85% | 1.01% | 1.33% | 1.31% | 1.02% | 0.94% | 0.93% | 0.83% | 0.93% | 0.93% | 0.83% | 12.62% |
| 2023 | 1.15% | 0.66% | 0.47% | 1.02% | 1.05% | 1.13% | 1.20% | 1.14% | 1.03% | 0.91% | 1.13% | 1.09% | 12.66% |
| 2022 | 0.66% | 0.47% | 0.65% | 0.83% | -0.19% | 0.09% | 0.76% | 1.14% | -0.09% | 0.60% | 0.86% | 0.56% | 6.52% |
| 2021 | 1.17% | 0.77% | 0.86% | 1.04% | 1.00% | 0.57% | 0.57% | 1.10% | 0.57% | 0.66% | 1.02% | 0.62% | 10.39% |
| 2020 | 0.49% | 0.10% | -2.15% | 0.90% | 1.89% | 1.09% | 0.78% | 1.26% | 0.78% | 0.58% | 1.95% | 0.78% | 8.73% |
| 2019 | -0.10% | 0.00% | 0.00% | 0.20% | 0.40% | 0.21% | 0.50% | 0.10% | 1.00% | 0.72% | 3.06% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 95, CCLFX is among the top 5% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Cliffwater Corporate Lending Fund (CCLFX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Cliffwater Corporate Lending Fund provided a 10.93% dividend yield over the last twelve months, with an annual payout of $1.17 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Dividend | $1.17 | $1.20 | $1.16 | $0.84 | $0.75 | $0.71 | $0.15 |
Dividend yield | 10.93% | 11.27% | 10.96% | 8.06% | 7.03% | 6.90% | 1.52% |
Monthly Dividends
The table displays the monthly dividend distributions for Cliffwater Corporate Lending Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | $0.00 | $0.27 | $0.00 | $0.27 | |||||||
| 2024 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.30 | $0.00 | $0.30 | $1.20 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.30 | $0.00 | $0.30 | $1.16 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.21 | $0.00 | $0.24 | $0.84 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.19 | $0.10 | $0.75 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.13 | $0.26 | $0.71 |
| 2019 | $0.01 | $0.00 | $0.00 | $0.05 | $0.09 | $0.15 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Cliffwater Corporate Lending Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Cliffwater Corporate Lending Fund was 3.91%, occurring on Mar 25, 2020. Recovery took 44 trading sessions.
The current Cliffwater Corporate Lending Fund drawdown is 1.38%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -3.91% | Feb 28, 2020 | 19 | Mar 25, 2020 | 44 | May 28, 2020 | 63 |
| -2.95% | Apr 2, 2025 | 4 | Apr 7, 2025 | — | — | — |
| -0.47% | May 9, 2022 | 12 | May 24, 2022 | 10 | Jun 8, 2022 | 22 |
| -0.47% | Sep 23, 2022 | 5 | Sep 29, 2022 | 17 | Oct 24, 2022 | 22 |
| -0.28% | Jun 13, 2022 | 16 | Jul 6, 2022 | 7 | Jul 15, 2022 | 23 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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