Cornerstone Total Return Fund (CRF) vs Morgan Stanley Direct Lending Fund (MSDL)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Morgan Stanley Direct Lending Fund is the larger company by market cap ($1.13 billion vs $1.05 billion), about 1.1 times the size. On valuation, Cornerstone Total Return Fund trades at a lower trailing P/E (5.6x vs 19.4x for Morgan Stanley Direct Lending Fund). Cornerstone Total Return Fund offers the higher dividend yield (22.70% vs 14.17%).
Summary generated from market data by MetaCap's automated system. Methodology
Head-to-head
| Metric | CRF | MSDL |
|---|---|---|
| Share price | $6.18 | $13.40 |
| Market cap | $1.05B | $1.13B |
| 1-day change | -0.08% | +0.56% |
| P/E ratio (TTM) | 5.61 | 19.43 |
| Forward P/E | — | 7.44 |
| EPS (TTM) | $1.10 | $0.69 |
| Dividend yield | 22.70% | 14.17% |
| Annual dividend | $1.40 | $1.90 |
| 52-week high | $8.25 | $17.91 |
| 52-week low | $6.05 | $13.23 |
| Distance from 52-week high | -25.15% | -25.16% |
| Analyst consensus | — | none |
| Avg. price target upside | — | +16.45% |
| Average volume | 1.49M | 453.64K |
| Shares outstanding | 170.26M | 84.11M |
| Sector | Finance | Financial Services |
| Industry | Finance/Investors Services | Asset Management |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Morgan Stanley Direct Lending Fund trades at a higher earnings multiple (19.4x vs 5.6x trailing P/E).
- Cornerstone Total Return Fund offers a meaningfully higher dividend yield (22.70% vs 14.17%).
- The two companies sit in different sectors: Cornerstone Total Return Fund in Finance and Morgan Stanley Direct Lending Fund in Financial Services.
About Cornerstone Total Return Fund
CRF stock →Cornerstone Total Return Fund, Inc. is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, LLC.
Finance · Finance/Investors Services
About Morgan Stanley Direct Lending Fund
MSDL stock →Morgan Stanley Direct Lending Fund is a business development company. It is a Private Debt fund.
Financial Services · Asset Management
CRF vs MSDL FAQ
Which is bigger, Cornerstone Total Return Fund or Morgan Stanley Direct Lending Fund?
Morgan Stanley Direct Lending Fund (MSDL) is larger, with a market capitalization of $1.13B compared with $1.05B for Cornerstone Total Return Fund (CRF).
Which has the lower P/E ratio, CRF or MSDL?
CRF has the lower trailing P/E at 5.6, versus 19.4 for MSDL. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Cornerstone Total Return Fund or Morgan Stanley Direct Lending Fund?
Cornerstone Total Return Fund has the higher yield at 22.70%, compared with 14.17% for Morgan Stanley Direct Lending Fund.
Are Cornerstone Total Return Fund and Morgan Stanley Direct Lending Fund in the same industry?
No. Cornerstone Total Return Fund is in the Finance sector, while Morgan Stanley Direct Lending Fund is in Financial Services.