MHNC vs MSDL

Comparison between Maiden Holdings North American Ltd 775 Nts 12012043 (MHNC, Company) and Morgan Stanley Direct Lending Fund (MSDL, Company).

MHNC vs MSDL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MHNC(COMPANY)	MSDL(COMPANY)
Market Cap	$1.31B	$1.30B
Max Drawdown	58.28%	42.73%
Sharpe Ratio	-1.12	-0.69
5Y Beta	0.10	0.54
Industry	N/A	Asset Management
P/E Ratio	-6.18	15.07
Forward P/E	N/A	8.16
PEG Ratio	-0.01	N/A
Dividend Yield	10.60%	12.70%
5Y Dividends CAGR	4.56%	N/A
5Y EPS CAGR	18.84%	N/A
Debt to Equity	678.14%	121.45%
Free Cash Flow Yield	-7.37%	15.59%

Market Cap

Winner

MHNC

$1.31B

MSDL

$1.30B

Max Drawdown

MHNC

58.28%

Winner

MSDL

42.73%

Sharpe Ratio

MHNC

-1.12

Winner

MSDL

-0.69

5Y Beta

Winner

MHNC

0.10

MSDL

0.54

Industry

MHNC

N/A

MSDL

Asset Management

P/E Ratio

Winner

MHNC

-6.18

MSDL

15.07

Forward P/E

MHNC

N/A

MSDL

8.16

PEG Ratio

MHNC

-0.01

MSDL

N/A

Dividend Yield

MHNC

10.60%

Winner

MSDL

12.70%

5Y Dividends CAGR

MHNC

4.56%

MSDL

N/A

5Y EPS CAGR

MHNC

18.84%

MSDL

N/A

Debt to Equity

MHNC

678.14%

Winner

MSDL

121.45%

Free Cash Flow Yield

MHNC

-7.37%

Winner

MSDL

15.59%

MHNC vs MSDL - Historical Returns

Returns include dividend reinvestment.

Period	MHNC	MSDL
1 month	-7.70%	+2.03%
3 months	-5.24%	+3.53%
6 months	-19.58%	-1.85%
1 year	-23.44%	-13.26%
5 years(CAGR)	-3.65%	N/A
10 years(CAGR)	+0.82%	N/A
Max(CAGR)	+3.07%	-1.51%

MHNC

-7.70%

Winner

MSDL

+2.03%

MHNC

-5.24%

Winner

MSDL

+3.53%

MHNC

-19.58%

Winner

MSDL

-1.85%

MHNC

-23.44%

Winner

MSDL

-13.26%

5Y(CAGR)

MHNC

-3.65%

MSDL

N/A

10Y(CAGR)

MHNC

+0.82%

MSDL

N/A

Max(CAGR)

Winner

MHNC

+3.07%

MSDL

-1.51%

MHNC vs MSDL - Annual Returns (2013 - 2026)

Returns include dividend reinvestment.

Year	MHNC	MSDL
2026	-21.11%	-2.68%
2025	-0.47%	-11.88%
2024	+5.68%	+11.06%
2023	+13.11%	N/A
2022	-10.47%	N/A
2021	+13.55%	N/A
2020	+6.69%	N/A
2019	+4.60%	N/A
2018	+1.98%	N/A
2017	-1.35%	N/A
2016	+6.93%	N/A
2015	+8.97%	N/A
2014	+34.94%	N/A
2013	-15.14%	N/A

MHNC vs MSDL Drawdown Comparison

The maximum drawdown for MHNC was -32.49%, occurring on Mar 7, 2019. Recovery took 597 trading sessions.

The maximum drawdown for MSDL was -29.56%, occurring on Mar 27, 2026. This drawdown has not yet recovered.

The current MHNC drawdown is -28.86%. The current MSDL drawdown is -19.46%.

Rank	MHNC	MSDL
#1	-32.49% Aug 7, 2017 - Dec 19, 2019	-29.56% Jun 21, 2024 - Mar 27, 2026
#2	-31.67% Sep 12, 2025 - Mar 20, 2026	-6.13% May 9, 2024 - Jun 21, 2024
#3	-29.19% Feb 4, 2020 - May 29, 2020	-6.08% Mar 27, 2024 - May 6, 2024
#4	-28.20% Sep 30, 2021 - Dec 13, 2023	-4.94% Jan 25, 2024 - Mar 14, 2024
#5	-19.57% Nov 4, 2024 - Aug 13, 2025	-4.15% Mar 20, 2024 - Mar 22, 2024
#6	-15.91% Nov 27, 2013 - Feb 14, 2014	-2.76% Mar 22, 2024 - Mar 26, 2024
#7	-9.62% Dec 13, 2023 - Oct 18, 2024	-2.37% May 6, 2024 - May 8, 2024
#8	-8.40% Jun 3, 2020 - Aug 11, 2020	-1.63% Mar 15, 2024 - Mar 20, 2024
#9	-7.70% Dec 10, 2015 - Feb 25, 2016	N/A
#10	-6.67% Aug 11, 2020 - Nov 23, 2020	N/A
#11	-5.82% Mar 16, 2017 - Jun 27, 2017	N/A
#12	-4.48% Sep 7, 2016 - Dec 27, 2016	N/A
#13	-3.86% Oct 18, 2024 - Oct 28, 2024	N/A
#14	-3.86% Feb 23, 2021 - Mar 16, 2021	N/A
#15	-3.61% Dec 21, 2020 - Jan 13, 2021	N/A

Correlation

Correlation between MHNC and MSDL is 0.31 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.31

-101

Dividend Comparison (2014 - 2026)

MHNC vs MSDL dividend yield comparison.

Year	MHNC	MSDL
2026	8.32%	5.97%
2025	12.26%	12.14%
2024	10.83%	10.65%
2023	10.18%	0.00%
2022	10.35%	0.00%
2021	8.43%	0.00%
2020	8.97%	0.00%
2019	8.59%	0.00%
2018	6.15%	0.00%
2017	7.93%	0.00%
2016	7.18%	0.00%
2015	7.19%	0.00%
2014	7.42%	0.00%