Correlation
The correlation between MSDL and SPY is 0.24, 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.
MSDL vs. SPY
Compare and contrast key facts about Morgan Stanley Direct Lending Fund (MSDL) and SPDR S&P 500 ETF (SPY).
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: MSDL or SPY.
Performance
MSDL vs. SPY - Performance Comparison
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Key characteristics
MSDL:
-0.11
SPY:
0.57
MSDL:
-0.13
SPY:
0.87
MSDL:
0.98
SPY:
1.13
MSDL:
-0.28
SPY:
0.55
MSDL:
-0.50
SPY:
2.11
MSDL:
10.25%
SPY:
4.91%
MSDL:
23.85%
SPY:
20.35%
MSDL:
-18.12%
SPY:
-55.19%
MSDL:
-10.34%
SPY:
-5.23%
Returns By Period
In the year-to-date period, MSDL achieves a -3.37% return, which is significantly lower than SPY's -0.89% return.
MSDL
-3.37%
0.83%
0.06%
-1.16%
N/A
N/A
N/A
SPY
-0.89%
5.17%
-2.13%
10.77%
15.38%
16.09%
12.57%
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Risk-Adjusted Performance
MSDL vs. SPY — Risk-Adjusted Performance Rank
MSDL
SPY
MSDL vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Direct Lending Fund (MSDL) 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.
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Dividends
MSDL vs. SPY - Dividend Comparison
MSDL's dividend yield for the trailing twelve months is around 11.29%, more than SPY's 1.24% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSDL Morgan Stanley Direct Lending Fund | 11.29% | 10.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.24% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
MSDL vs. SPY - Drawdown Comparison
The maximum MSDL drawdown since its inception was -18.12%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MSDL and SPY.
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Volatility
MSDL vs. SPY - Volatility Comparison
Morgan Stanley Direct Lending Fund (MSDL) has a higher volatility of 7.78% compared to SPDR S&P 500 ETF (SPY) at 4.45%. This indicates that MSDL's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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