AVGG vs. MDST

Last updated Jun 25, 2026

AVGG (Leverage Shares 2X Long AVGO Daily ETF) and MDST (Westwood Salient Enhanced Midstream Income ETF) are both exchange-traded funds - AVGG is a Leveraged Equities fund actively managed by Leverage Shares, while MDST is a Energy Equities fund actively managed by Westwood. Both are actively managed. Over the past year, AVGG returned 51.13% vs 20.44% for MDST. At a correlation of -0.11, they often move in opposite directions. AVGG charges 0.76%/yr vs 0.80%/yr for MDST.

Performance

AVGG vs. MDST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long AVGO Daily ETF (AVGG) and Westwood Salient Enhanced Midstream Income ETF (MDST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVGG achieves a 3.10% return, which is significantly lower than MDST's 16.65% return.

AVGG

• 1D: 0.29%
• 1M: -19.76%
• YTD: 3.10%
• 6M: 0.74%
• 1Y: 51.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDST

• 1D: 0.10%
• 1M: -1.80%
• YTD: 16.65%
• 6M: 16.74%
• 1Y: 20.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVGG vs. MDST - Yearly Performance Comparison

	2026 (YTD)	2025
AVGG Leverage Shares 2X Long AVGO Daily ETF	3.10%	91.10%
MDST Westwood Salient Enhanced Midstream Income ETF	16.65%	3.86%

Correlation

The correlation between AVGG and MDST is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since May 16, 2025	-0.11

Return for Risk

AVGG vs. MDST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVGG

AVGG Risk / Return Rank: 23
AVGG Sharpe Ratio Rank: 18
AVGG Sortino Ratio Rank: 27
AVGG Omega Ratio Rank: 27
AVGG Calmar Ratio Rank: 22
AVGG Martin Ratio Rank: 19

MDST

MDST Risk / Return Rank: 57
MDST Sharpe Ratio Rank: 55
MDST Sortino Ratio Rank: 56
MDST Omega Ratio Rank: 53
MDST Calmar Ratio Rank: 69
MDST Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVGG vs. MDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long AVGO Daily ETF (AVGG) and Westwood Salient Enhanced Midstream Income ETF (MDST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVGG	MDST	Difference
Sharpe ratio: Return per unit of total volatility	0.56	1.65	-1.10
Sortino ratio: Return per unit of downside risk	1.35	2.36	-1.01
Omega ratio: Gain probability vs. loss probability	1.18	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	0.96	3.05	-2.09
Martin ratio: Return relative to average drawdown	2.01	8.22	-6.21

AVGG vs. MDST - Sharpe Ratio Comparison

The current AVGG Sharpe Ratio is 0.56, which is lower than the MDST Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of AVGG and MDST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVGG vs. MDST - Drawdown Comparison

The maximum AVGG drawdown since its inception was -53.77%, which is greater than MDST's maximum drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for AVGG and MDST.

Drawdown Indicators

	AVGG	MDST	Difference
Max Drawdown Largest peak-to-trough decline	-53.77%	-14.19%	-39.58%
Max Drawdown (1Y) Largest decline over 1 year	-53.77%	-6.74%	-47.03%
Current Drawdown Current decline from peak	-40.29%	-2.10%	-38.19%
Average Drawdown Average peak-to-trough decline	-18.61%	-2.20%	-16.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.55%	2.49%	+23.06%

Volatility

AVGG vs. MDST - Volatility Comparison

Leverage Shares 2X Long AVGO Daily ETF (AVGG) has a higher volatility of 44.99% compared to Westwood Salient Enhanced Midstream Income ETF (MDST) at 4.83%. This indicates that AVGG's price experiences larger fluctuations and is considered to be riskier than MDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGG	MDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.99%	4.83%	+40.16%
Volatility (6M) Calculated over the trailing 6-month period	67.23%	8.71%	+58.52%
Volatility (1Y) Calculated over the trailing 1-year period	92.90%	12.44%	+80.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.45%	16.10%	+74.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.45%	16.10%	+74.35%

AVGG vs. MDST - Expense Ratio Comparison

AVGG has a 0.76% expense ratio, which is lower than MDST's 0.80% expense ratio.

Dividends

AVGG vs. MDST - Dividend Comparison

AVGG's dividend yield for the trailing twelve months is around 2.19%, less than MDST's 9.19% yield.

Position	TTM	2025	2024
AVGG Leverage Shares 2X Long AVGO Daily ETF	2.19%	2.26%	0.00%
MDST Westwood Salient Enhanced Midstream Income ETF	9.19%	10.22%	6.60%

Frequently Asked Questions

Can I hold both AVGG and MDST in my portfolio?

AVGG and MDST have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGG or MDST?

AVGG has higher volatility (44.99%) compared to MDST (4.83%). In terms of maximum drawdown, AVGG dropped -53.77% vs MDST's -14.19%.

Which ETF is better, AVGG or MDST?

On 1-year performance, AVGG leads with 51.13% vs 20.44% for MDST. On fees, AVGG is cheaper at 0.76% per year. On volatility, MDST has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGG or MDST?

Over the 1-year period, AVGG has performed better with a 51.13% return vs 20.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGG or MDST?

AVGG is cheaper with a 0.76% expense ratio, compared with 0.80% for MDST.

Which ETF pays a higher dividend yield, AVGG or MDST?

MDST has the higher dividend yield at 9.19%, compared with 2.19% for AVGG.

What is the main difference between AVGG and MDST?

AVGG is categorized as Leveraged Equities, while MDST is Energy Equities. They also come from different issuers: Leverage Shares and Westwood. Their fees differ too: 0.76% for AVGG and 0.80% for MDST.

Which has better risk-adjusted returns?

MDST currently has the higher Sharpe Ratio (1.65 vs 0.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.