Westwood Salient Enhanced Midstream Income ETF
$28.82+0.12 (+0.40%)
- Expense ratio
- 0.80%
- Fund size
- $298M
- 1Y return
- +18.9%
- Yield · Last 12 months
- 9.41%
- Holdings
- 23
- Volume · 30D
- 0.1M sh
- NAV per share
- $28.94
- 52W range
The ETF.net MDST Grade
Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.DScore 32Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.DScore 32Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 71Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 37Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 51Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 28Category rank
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
- 23
- 64%
- ET
Sectors
Geography
MDST Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +16.6% |
| 1 month | −1.7% |
| 3 months | +1.8% |
| 1 year | +18.9% |
| 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 | +16.6% | |
| 2025 | +7.1% | |
| 2024 | +17.2% |
MDST in the news
ETF.net Research hasn’t filed on MDST yet — coverage lands here as it’s written.
MDST Dividends
- 9.41%
- $2.70
- $0.23 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 28, 2026 | Sep 2, 2026 | $0.23 |
| Jul 30, 2026 | Aug 4, 2026 | $0.23 |
| Jun 29, 2026 | Jul 6, 2026 | $0.23 |
| May 28, 2026 | Jun 2, 2026 | $0.23 |
| Apr 29, 2026 | May 4, 2026 | $0.23 |
| Mar 30, 2026 | Apr 6, 2026 | $0.23 |
| Feb 26, 2026 | Mar 3, 2026 | $0.23 |
| Jan 29, 2026 | Feb 3, 2026 | $0.23 |
| Jan 5, 2026 | Jan 9, 2026 | $0.23 |
| Nov 26, 2025 | Dec 1, 2025 | $0.23 |
| Oct 30, 2025 | Nov 4, 2025 | $0.23 |
| Sep 29, 2025 | Oct 2, 2025 | $0.23 |
MDST Risk
- 10.8%
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.
- 1.33
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
- The middle half of Energy Sector funds
- Median 0.77%
4 of the 7 Energy Sector funds charge less.