It is argued here that there is no fact of the matter between direct reference theory and neo-Fregeanism. To get a more precise idea of the central thesis of this paper, consider the following two claims: (i) While direct reference theory and neo-Fregeanism can be developed in numerous ways, they can be developed in essentially parallel ways; that is, for any (plausible) way of developing direct reference theory, there is an essentially parallel way of developing neoFregeanism, and vice versa. And (ii) for each such pair of theories, there is no fact of the matter as to which of them is superior; or more precisely, they are tied in terms of factual accuracy. These are sweeping claims that cannot be fully justified in a single paper. But arguments are given here that motivate these theses, i.e., that suggest that they are very likely true.