CELFX vs. SPY
Compare and contrast key facts about Cliffwater Enhanced Lending Fund (CELFX) and SPDR S&P 500 ETF (SPY).
CELFX is managed by Cliffwater. It was launched on Jul 26, 2021. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CELFX or SPY.
Key characteristics
| CELFX | SPY | |
|---|---|---|
| YTD Return | 8.28% | 26.77% |
| 1Y Return | 10.72% | 37.43% |
| 3Y Return (Ann) | 11.73% | 10.15% |
| Sharpe Ratio | 3.35 | 3.06 |
| Sortino Ratio | 3.72 | 4.08 |
| Omega Ratio | 4.17 | 1.58 |
| Calmar Ratio | 3.91 | 4.44 |
| Martin Ratio | 13.74 | 20.11 |
| Ulcer Index | 0.79% | 1.85% |
| Daily Std Dev | 3.23% | 12.18% |
| Max Drawdown | -2.77% | -55.19% |
| Current Drawdown | -1.79% | -0.31% |
Correlation
The correlation between CELFX and SPY is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CELFX vs. SPY - Performance Comparison
In the year-to-date period, CELFX achieves a 8.28% return, which is significantly lower than SPY's 26.77% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CELFX vs. SPY - Expense Ratio Comparison
CELFX has a 1.68% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
CELFX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Cliffwater Enhanced Lending Fund (CELFX) and SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
CELFX vs. SPY - Dividend Comparison
CELFX's dividend yield for the trailing twelve months is around 8.28%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CELFX Cliffwater Enhanced Lending Fund | 8.28% | 10.67% | 9.42% | 3.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
CELFX vs. SPY - Drawdown Comparison
The maximum CELFX drawdown since its inception was -2.77%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CELFX and SPY. For additional features, visit the drawdowns tool.
Volatility
CELFX vs. SPY - Volatility Comparison
The current volatility for Cliffwater Enhanced Lending Fund (CELFX) is 0.24%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.88%. This indicates that CELFX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.