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Morgan Stanley Direct Lending Fund (MSDL)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Financials

Company Info

ISIN

US61774A1034

IPO Date

Jan 24, 2024

Highlights

Market Cap

$1.70B

EPS (TTM)

$2.18

PE Ratio

8.94

Total Revenue (TTM)

$328.50M

Gross Profit (TTM)

$210.64M

EBITDA (TTM)

$88.35M

Year Range

$17.59 - $21.78

Target Price

$19.90

Short %

0.22%

Short Ratio

0.27

Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart


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S&P 500

Returns By Period

Morgan Stanley Direct Lending Fund (MSDL) returned -3.37% year-to-date (YTD) and -1.16% over the past 12 months.


MSDL

YTD

-3.37%

1M

0.83%

6M

0.06%

1Y

-1.16%

3Y*

N/A

5Y*

N/A

10Y*

N/A

^GSPC (Benchmark)

YTD

-1.34%

1M

5.02%

6M

-2.79%

1Y

9.39%

3Y*

13.76%

5Y*

14.45%

10Y*

10.68%

*Annualized

Monthly Returns

The table below presents the monthly returns of MSDL, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20251.69%-3.67%1.06%-2.40%0.00%-3.37%
2024-0.82%-4.10%12.27%-0.23%7.67%-3.57%-6.64%1.78%-1.81%0.51%7.88%-0.86%10.95%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of MSDL is 37, indicating average performance compared to other stocks on our website. Here’s a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of MSDL is 3737
Overall Rank
The Sharpe Ratio Rank of MSDL is 4545
Sharpe Ratio Rank
The Sortino Ratio Rank of MSDL is 3333
Sortino Ratio Rank
The Omega Ratio Rank of MSDL is 3333
Omega Ratio Rank
The Calmar Ratio Rank of MSDL is 3434
Calmar Ratio Rank
The Martin Ratio Rank of MSDL is 4242
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Morgan Stanley Direct Lending Fund (MSDL) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Morgan Stanley Direct Lending Fund Sharpe ratios as of May 26, 2025 (values are recalculated daily):

  • 1-Year: -0.11
  • All Time: 0.21

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Morgan Stanley Direct Lending Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.


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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Morgan Stanley Direct Lending Fund provided a 11.29% dividend yield over the last twelve months, with an annual payout of $2.20 per share.


10.65%$0.00$0.50$1.00$1.50$2.002024
Dividends
Dividend Yield
PeriodTTM2024
Dividend$2.20$2.20

Dividend yield

11.29%10.65%

Monthly Dividends

The table displays the monthly dividend distributions for Morgan Stanley Direct Lending Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.50$0.00$0.00$0.50
2024$0.50$0.00$0.00$0.50$0.00$0.10$0.50$0.00$0.10$0.50$2.20

Dividend Yield & Payout


Dividend Yield

Morgan Stanley Direct Lending Fund has a dividend yield of 11.29%, which means its dividend payment is significantly above the market average.

Payout Ratio

Morgan Stanley Direct Lending Fund has a payout ratio of 68.97%, which is quite average when compared to the overall market. This suggests that Morgan Stanley Direct Lending Fund strikes a balance between reinvesting profits for growth and paying dividends to shareholders.

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 Morgan Stanley Direct 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 Morgan Stanley Direct Lending Fund was 18.12%, occurring on Apr 8, 2025. The portfolio has not yet recovered.

The current Morgan Stanley Direct Lending Fund drawdown is 10.34%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-18.12%Jun 24, 2024199Apr 8, 2025
-6.13%May 10, 202411May 24, 202418Jun 21, 202429
-6.08%Mar 28, 202412Apr 15, 202415May 6, 202427
-4.94%Jan 26, 202424Feb 29, 202410Mar 14, 202434
-4.15%Mar 21, 20241Mar 21, 20241Mar 22, 20242
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Financials

Financial Performance

The chart below illustrates the trends in the financial health of Morgan Stanley Direct Lending Fund over time, highlighting three key metrics: Total Revenue, Earnings Before Interest and Taxes (EBIT), and Net Income.


Annual
Quarterly

0.0

Earnings Per Share

The chart presents the Earnings Per Share (EPS) performance of Morgan Stanley Direct Lending Fund, comparing actual results with analytics estimates. In the past quarter, the company did not meet analyst expectations for EPS, resulting in a surprise of -5.4%.


0.550.600.652024FebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember2025FebruaryMarch
0.52
0.55
Actual
Estimate

Valuation

The Valuation section provides an overview of how Morgan Stanley Direct Lending Fund is priced in the market compared to other companies in the Asset Management industry. It includes key financial ratios that help investors assess whether the stock is undervalued or overvalued.


PE Ratio

The chart displays the Price-to-Earnings (P/E) ratio for MSDL, comparing it with other companies in the Asset Management industry. Currently, MSDL has a P/E ratio of 8.9. This P/E ratio is in line with the industry average, suggesting the stock may be fairly valued relative to its earnings.

PS Ratio

This chart shows the Price-to-Sales (P/S) ratio for MSDL relative to other companies in the Asset Management industry. Currently, MSDL has a P/S ratio of 9.0. This P/S ratio falls within the average range for the industry, suggesting the stock is fairly valued based on its revenue.

PB Ratio

The chart illustrates the Price-to-Book (P/B) ratio for MSDL in comparison with other companies in the Asset Management industry. Currently, MSDL has a P/B value of 0.9. This P/B ratio is in line with the industry average, suggesting the stock is valued fairly in relation to its book value.

Income Statement



TTM
Revenue

Total Revenue

Cost Of Revenue

Gross Profit

Operating Expenses

Selling, General & Admin Expenses

R&D Expenses

Depreciation And Amortization

Total Operating Expenses

Income

Income Before Tax

Operating Income

EBITDA

EBIT

Earnings From Continuing Operations

Net Income

Income Tax Expense

Other Non-Operating Income (Expenses)

Extraordinary Items

Discontinued Operations

Effect Of Accounting Charges

Non Recurring

Minority Interest

Other Items

Interest Income

Interest Expense

Net Interest Income

Values in undefined except per share items