GEMG vs. MDST

Last updated Jul 17, 2026

GEMG (Leverage Shares 2X Long GEMI Daily ETF) and MDST (Westwood Salient Enhanced Midstream Income ETF) are both exchange-traded funds - GEMG 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. At a correlation of -0.06, they often move in opposite directions. GEMG charges 0.75%/yr vs 0.80%/yr for MDST.

Performance

GEMG vs. MDST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long GEMI Daily ETF (GEMG) 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, GEMG achieves a -89.00% return, which is significantly lower than MDST's 19.41% return.

GEMG

• 1D: -5.32%
• 1M: -11.78%
• 6M: -89.67%
• YTD: -89.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDST

• 1D: 0.86%
• 1M: 5.13%
• 6M: 18.80%
• YTD: 19.41%
• 1Y: 23.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GEMG vs. MDST - Yearly Performance Comparison

	2026 (YTD)	2025
GEMG Leverage Shares 2X Long GEMI Daily ETF	-89.00%	-71.91%
MDST Westwood Salient Enhanced Midstream Income ETF	19.41%	6.53%

Correlation

The correlation between GEMG and MDST is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	-0.06

Return for Risk

GEMG vs. MDST — Risk / Return Rank

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

GEMG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MDST

MDST Risk / Return Rank: 72
MDST Sharpe Ratio Rank: 71
MDST Sortino Ratio Rank: 74
MDST Omega Ratio Rank: 70
MDST Calmar Ratio Rank: 82
MDST Martin Ratio Rank: 65

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.

GEMG vs. MDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long GEMI Daily ETF (GEMG) 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.

	GEMG	MDST	Difference
Sharpe ratio: Return per unit of total volatility	—	1.82	—
Sortino ratio: Return per unit of downside risk	—	2.64	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	3.47	—
Martin ratio: Return relative to average drawdown	—	9.28	—

Drawdowns

GEMG vs. MDST - Drawdown Comparison

The maximum GEMG drawdown since its inception was -97.76%, which is greater than MDST's maximum drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for GEMG and MDST.

Drawdown Indicators

	GEMG	MDST	Difference
Max Drawdown Largest peak-to-trough decline	-97.76%	-14.19%	-83.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.74%	—
Current Drawdown Current decline from peak	-97.09%	-0.05%	-97.04%
Average Drawdown Average peak-to-trough decline	-82.67%	-2.19%	-80.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.51%	—

Volatility

Volatility by Period

	GEMG	MDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.55%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	213.79%	12.82%	+200.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	213.79%	16.10%	+197.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	213.79%	16.10%	+197.69%

GEMG vs. MDST - Expense Ratio Comparison

GEMG has a 0.75% expense ratio, which is lower than MDST's 0.80% expense ratio.

Dividends

GEMG vs. MDST - Dividend Comparison

GEMG has not paid dividends to shareholders, while MDST's dividend yield for the trailing twelve months is around 9.05%.

Position	TTM	2025	2024
GEMG Leverage Shares 2X Long GEMI Daily ETF	0.00%	0.00%	0.00%
MDST Westwood Salient Enhanced Midstream Income ETF	9.05%	10.22%	6.60%

Frequently Asked Questions

Can I hold both GEMG and MDST in my portfolio?

GEMG and MDST have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GEMG or MDST?

On fees, GEMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GEMG or MDST?

GEMG is cheaper with a 0.75% expense ratio, compared with 0.80% for MDST.

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

MDST has the higher dividend yield at 9.05%, compared with 0.00% for GEMG.

What is the main difference between GEMG and MDST?

GEMG is categorized as Leveraged Equities, while MDST is Energy Equities. They also come from different issuers: Leverage Shares and Westwood. Their fees differ too: 0.75% for GEMG and 0.80% for MDST.