Westwood Salient Enhanced Midstream Income ETF
$28.80+0.27 (+0.96%)
- 0.80%
- $298M
- +21.9%
- 9.46%
- 0.1M sh
- $28.42
- low $24.93high $30.43
The ETF.net MDST Grade
C
Score 41 out of 100
- 6 of 7
Score 41 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D32 out of 100Rank 5 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.C40 out of 100Rank 3 of 5Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A70 out of 100Rank 2 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D31 out of 100Rank 5 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C51 out of 100Rank 4 of 6Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D34 out of 100Rank 6 of 7
Our read on MDST
CMidstream pipelines already throw off cash. MDST layers a covered call overlay on an actively picked pipeline and MLP book, then pays it out monthly, in a 1099 wrapper instead of the MLP K-1 shuffle.
The Fund seeks income by investing at least 80% of its net assets, including certain investment-purpose borrowings, in securities of North American midstream corporations and U.S. master limited partnerships.
Why people hold it
- Two income engines, one ticker: distributions from pipelines and MLPs, plus premium collected from writing calls on holdings. Cash goes out monthly.westwoodholdingsgroupinc.gcs-web.com
- Caps direct MLP holdings at 25% of assets, so shareholders get a 1099 and skip K-1 forms; part of each payout can be return of capital.dividend.comwestwoodgroup.com
- Actively run, not index-shadowing: Westwood's team picks the midstream names and runs the option overlay, with at least 80% in North American midstream and US MLPs.westwoodgroup.com
Worth knowing
- Costs 0.80% a year. That is about the energy-cohort median, but roughly double an index-built midstream fund like MLPX at 0.45%.
- Calls written on holdings swap upside for premium: when those pipelines rip, the capped positions do not come along for the whole ride.westwoodholdingsgroupinc.gcs-web.com
- Launched in 2024, non-diversified, and concentrated in one industry, so the record is short and the ride is sector-shaped.westwoodgroup.com
MDST Holdings
- Stocks
- 27
- 64%
- ET
Sectors
- Energy100.0%
Geography
- United States80.09%
- Canada19.91%
MDST Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
MDST$12,187
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | MDST |
|---|---|
| Year to date | +16.9% |
| 1 month | −2.4% |
| 3 months | +0.1% |
| 1 year | +21.9% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MDST |
|---|---|---|
| 2026 YTD | +16.9% | |
| 2025 | +7.1% | |
| 2024 | +17.2% |
MDST in the news
MDST Dividends
- 9.46%
- $2.70
- $0.23 per share
- Monthly
Distribution history
MDST Risk
- 12.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.91
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −14.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.20
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MDST Cost
0.80%
MDST0.80%
- The middle half of Energy Sector funds
- Median 0.77%
4 of the 7 Energy Sector funds charge less.
Other funds in Energy Sector
- BMLPXGlobal X - MLP & Energy Infrastructure ETFExpense ratio 0.45%1 year return +28.6%
- CTMLPTortoise MLP ETFExpense ratio 0.50%1 year return —
- CPXJInvesco Oil & Gas Services ETFExpense ratio 0.77%1 year return +84.4%
- CAMLPAlerian MLP ETFExpense ratio 1.01%1 year return +27.7%
- DCOALRange Global Coal Index ETFExpense ratio 0.85%1 year return +10.6%